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I have this feeling that this whole thing is due to the rise of BTC soonish. Anyone else thinks the same?
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what is considered a large stash of moneros these days?
I would consider anything above 25k moneroj quite large, but if you are a whale it may be nothing. u r whale ? A nice stash would be the one that you did not spend so much to own. A perfect stash is (usually) some more than that. I'd say a good number would have been somewhere over 1000 at the moment. At these prices it won't cost you much and I'm sure you're NOT gonna regret having them after a year or so. I said it earlier in this thread; the perfect case is to own as much as possible you can handle to lose and not care; and so much so that if it gets to the moon, you don't blame yourself for not having more. |
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This question is purely posted out of curiosity. The website Minergate has a feature called web mining; where simply having a browser tab open that includes the following code enables mining of one of a number of chosen Cryptonote currencies. However the speed is a fraction (reporting less than 1 h/s) of what you would get using the same number of cores via a miner such as Claymore's. Would scripting a miner like Claymore's into a code similar to the following even be possible? Perhaps if you ran it on a VPS or what not? Here is the webmining script from Minergate: <script type="text/javascript">
(function() {
var w = document.createElement("iframe");
w.style.border = 'none';
w.style.width = '293px';
w.style.height = '73px';
w.src = 'http://minergate.com/wmr/mro/emailaddress%40accountuser.com/1/88rr95245d7cd44f/big/0';
var s = document.getElementsByTagName('body')[0];
s.appendChild(w, s);
})();
</script> Thanks! Strato That's not the actual script, and JS doesn't allow access to CPU instructions, so not really. I've used the webminer too; it delivers about 1H/s on an i5, while using all the available CPU power. What's even more interesting though, is that when you try to run it from a mobile phone (Samsung Note 3) it manages about 2-3H/s!!! I'm a bit confused, but I think that's it's a JS routine that does only the computation work and another routine takes the shares for it. Just speculating of course, I can't say for sure. |
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I hope this will help increase the price of gcoin so I can spend my coins
Hi Webnet It's hard to know. LTC is even down  I was holding a lot too. Fingers crossed !! Best Greg IMHO, it's not GCN relative more than BTC/LTC relative. Every alt is in decline since BTC is in decline. Don't forget that most of the alts are being used as alternative vehicles in and out of the exchanges, for arbitrage purposes etc. It's been long happening since transferring fiat from exchange to exchange would've take days, sometimes even weeks. I expect all the alts (LTC/GCN included) to recover after the BTC recovers first. That shouldn't be long, since a lot of news are pointing towards a great movement from Wall St. to the cryptocoin world. I certainly don't hold my breath on it; but I wish for it to happen...  |
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walls bouncing a lot..
High volume dump on Huobi. Stamp follows. This could be interesting...  |
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Jorge, I'm sorry to insist too, but I find no difference between "say MY opinion of what would be fair" and "I was trying to guess what KOBAYASHI may decide, by trying to place myself in his place and looking at the situation as HE is probably seeing it, with the constraints that HE may have". We're expressing our ideas concerning a matter which we've never had the chance to intimately inspect nor we know the internal procedures. Maybe it's due to my cultural behaviour, but this is called "I say my opinion" where I live.
Now; for starters, I never took Kobayashi as M.K. replacement. He was ordered by the Judge to do a specific job and I expect him to do it the fairest way possible for ALL the people involved. That includes Mark Karpeles as well as myself and about (allegedly) 1,000,000 customers. He doesn't owe us anything, but an explanation - or better - some clear directions on where the situation is going. This has been performed poorly IMHO so far and I have reasons to believe that it's not (only) his fault...
Second; I don't fool myself that I or any other involved have a saying against Kobayashi's practices or he even cares what we think (or ask him to do). The colourful metaphor about the liver transplant pretty much draws it out what Kobayashi's role is in the case of the "patient" MtGox. We're just close relatives to the patient and care to see what's there to be done in order for the patient to live. He may as well declare that the patient is dead and start donating the organs to others for that matter.
Third; I concur that he's in a difficult position and that I wouldn't want to be at his place. The idea of yours to liquidate as a ponzi scheme is valid, but I don't think it will move this way eventually. If it was that simple, everything would've been over by now and we wouldn't discuss it at the moment. As per the "traditional" receipts; I remind you that every transaction from fiat->MtGox BTCs is at people's Bank Account statements. For instance, I can tell you the exact time I've sent money to MtGox, when I withdrawn BTCs out and I believe that ANY VERIFIED member can prove those claims as well. Besides, it works both ways; they have them also.
So, finally there are 2 parts in the equation: We have the REAL people that gave REAL money to buy BTCs off MtGox and we have a bunch of "ghost" accounts, un-verified, that allegedly bought and sold millions of dollars in BTCs and require a share of the pie. Now please tell me; if it was you in the place of Kobayashi; would you be treating the same both parts?
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Yes, I've read them carefully. Unfortunately, if the db is doctored then the results are (possibly) meaningless. If we accept that this was the original db though, there are blind spots which -even with their expertise- they were unable to find. As a side note I cannot leave aside the fact that the db they have in hand MAY has been "leaked" purposely in order someone could deliver their aforementioned assumptions.
Frankly, I don't think this goes anywhere but here. We can talk all we like, write millions of lines about it, but the bottom line is that we won't EVER be able to guess what *REALLY* happened. I find this alone a great liability, since as I've mentioned before here on this forum, I don't trust any exchange. The coins I've left into any of them are considered by myself as "possibly lost". That means I never leave in there anymore than I can afford to lose.
And I mean EVERY exchange. No exceptions.
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Happy Birthday! I wish you all fellow XMR hodlers & traders a prosperous and joyful future. XMR is an idea worth investing in, it has a great community, devoted members and developers. I don't know if it grows bigger than BTC (that would've been awesome since I hold a lot more than my BTCs) but I believe it will soon be the 1st altcoin in capitalization.
A great "Thank you" to every developer and every member of this community for keeping this alive and bring it to our lives.
Happy Birthday XMR!!
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Well, the website does explicitly say that you should not presume that:
Important announcement to all users confirming their account
This balance confirmation service is provided on this site only for the convenience of all users. Please be aware that confirming the balance on this site does not constitute a filing of bankruptcy claims under the bankruptcy procedure and note that the balance amounts shown on this site should also not be considered an acknowledgment by the bankruptcy trustee of the amount of any bankruptcy claims of users. Bankruptcy claims under a bankruptcy procedure will be fixed through filing of claims and the investigation procedure. The method for filing claims will be published on this site as soon as we are in a situation to announce it.
See what I mean? Even though it is written with all letters, you all refuse to even contemplate the idea that YOUR BALANCES ARE NOT WHAT YOU ARE OWED. And I am not trying to argue what *I* think would be right. I am only trying to warn you that it is KOBAYASHI who will decide how the claims will be defined; and what *YOU* like, or you think is right, is the least important thing he has to consider. Laws, precedents, and HIS notion of fairness will come first.
That is one reason why the claims should not be based on the final balances: in the final weeks, many users felt forced to do bad trades (e.g. selling their coins at 20% of the external market price) because they were led to believe that they could only get yen or dollars out. Other clients profited from their despair to acquire lots of coins at that ridiculos prices. The coins have lost value since then, but it is not clear who profited from those "unnatural" trades.
Even for clients who did not trade in those last few days, their final balances are the resut of trading in an false (probably fraudulent) market, so their gains or losses were probably affected by fraud (even if unknowingly). For example, MtGOX's price was significantly higher than the outside market for many months. It is conjectured that some client was buying coins (probably through the "Willy" robot) with non-existent money; and that the missing coins were already missing by then. So, profits made by trading inside MtGOX may have been bogus because they were built by trading non-existent coins and money, at prices that were distorted by the fraud.
To me, those distortions make the deposits-minus-withdrawals criterion seems a logical necessity in cases like MtGOX.
Imagine a soccer match were one of the goals happens to be 20% wider than the other, and the diference is discovered only after the game is over. There is no way to adjust the score after the fact to make it fair: that 20% difference in size may have affected the game in all sorts of ways, not just increased the score by 20%. The only fair decision would be to cancel that match and play it again.
Well, that's not gonna happen; and you know it better than me. The secrecy involved in this matter, plus the fact that's been over a year now that the incident occurred AND NO ONE CAN TELL FOR SURE what has happened, must tell us a lot. I'm not less pessimistic than you on the matter. What I posted was my own thoughts, what I think would have been fair. Nothing more.
Nevertheless, I don't think that life is fair at all. Especially to small fish like me. Maybe it's fairer to the bigger ones... ie: M.K. who knows? only time will tell.  |
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it's not china that pumps this time  Orly? Ive been watching this crap - it has come from okgox, bots on finex followed. It was definitely China on the pump. Here's the proof.  Left=Huobi Right=Bitstamp |
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Erm, "presumed" in what sense? That is probably what the victims expect and would like, but the point is that the law and/or legal precedents seem to be different -- and they woudl prevail over the victims' convictions about "right". (The MtGOX website warns that the balance is provided only for information, and should NOT be assumed to be the claim.)
Presumed based on the fact on what the online database -that everyone is able to login with his account credentials- presents. Otherwise what is it there for? Pardon me, but I wouldn't like that as a victim as you propose. I'd like the possibility to get back about 4000eur which I tried to withdraw back then and wasn't able to. On the contrary I've been offered to buy back some of my coins (at the time it was a bit more expensive) and I got trapped with only some virtual coins which I couldn't withdraw either. Not to mention that, according to what I have read, the database has been doctored and/or some of the trades recorded i it are not legitimate. If that is the case, those balances cannot be taken into account. Even if your balance is correct according to your accounting, if other people's balances are artificially inflated, your refund would be diminished. Ditto if some large accounts are owned by MtGOX managers or associates (they should not get any refunds)
I don't know, but If the claims are defined as deposits minus withdrawals, clients may have to submit at least a list of such actions with dates. Also, I gather that there are old accounts without full ID information, or may have been created with bogus IDs.
Doctored or not, there is proof for all the transactions we've made (I personally have an electronic copy of every single one). So; I guess if I'm able to cross-match, mr Kobayashi should be able to do it too. As per the artificial balances and/or non verified accounts, I'd rule all of them as fake unless the owner(s) have proof that they're actually theirs (good luck with that)... |
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I've decided to remove BlindMayorBitcorn from The List once more, since he followed my 3 out of 3 posts rule (3 useful - not trolling - not offending posts so far). Please update your list if you feel like it's a nice decision or don't if you like him in there. I didn't want to TBH since he was provocative at me, but rules are rules and ought to be obeyed. Cheers. Edit:It's been a pretty busy night for sockpuppets. I've updated The List with the following users: China!
Ergodan
Paranoia-meter
dfsdfs
SlowNinja
indicabob
Foilking
Please update your Lists! Cheers |
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is kenr12 NLC?
Yep; he was added. Please update your list. Thanks for the heads up!!  |
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28,1xx shorts
How many till they let it rip you think? 30k?
Swap rates are low
Yet the price hovering at the same level it has been for like a week now. If nothing significant happens (hint: Monday) then don't expect anything dramatic happening in price. Nevertheless, I expect some movement if CERTAIN factors we've been waiting for A LONG time to come, hit the streets in two days... but then again; it's bitcoinland. You never know for sure what's gonna happen. |
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The deadline for victims to file claims was 2015-05-25, right? That is only 1 month away, and AFAIK Mr. Kobayashi has yet to tell former MtGOX clients what will constitute a valid claim, and what they will have to provide in order to prove that they are entitled to it.
Perhaps you may have noticed my bazillion warnings that "your claim" may not be just your balance in the MtGOX ledgers at some random date, but instead the difference between what you deposited and what you withdrew, with the market price *at the time* used to evaluate BTC deposits and withdrawals. AFAIK, the latter method, rather than the account balances, has been used in similar cases, such as the Madoff ponzi liquidation.
But it seems that no one is worried by that question, because apparently no one has thought of asking Mr. Kobayashi which of the two alternatives he will use. It seems that everybody is still convinced that the preferences of the victims will prevail over the laws, the legal precedents, and the trustee's preferences.
I don't even fell like saying "good luck to you" any more...
Good points. To the most significant one; a valid claim is presumed that will be based on the balance that each client had at the time the closure happened (ie: the balance you have now on your account). The problem is that they're short on coins. On the other hand they're (allegedly) have to give A LOT of fiat back. As per the 1 month period and the "valid claim", I don't buy it. Besides; what's more valid than a customer that it was mandatory to prove his ID, residence, etc in order to become a member in Gox? Don't you find it overemphasized? Too many aspects are so damn wrong in there... and the sad thing is that I don't see it become any better; yes. Even when the deadline is passed...  |
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I don't see funds coming out from Gox. The only viable solution on the matter would be the MtGox->Kraken transition but -unfortunately- I don't see it happening anytime soon. The authorities have no comment on the matter, M.K. is nowhere to be found and if you ask the guys at Kraken they say "we're in the (negotiation) process". As many here before me have mentioned, "there is a LOT we don't know" and I bet, there's more that we don't even imagine. |
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I've been watching this market pretty closely lately and i just wanted to share an observation and some implications of that observation.
Earlier today someone posted a 10,000 monero buy wall at 0.003. That wall remained for about as long as it would take someone to send monero from cold storage to poloniex and than execute a trade. It was taken down in one fell swoop. I find it interesting that this seems to occur again and again any time someone puts up a buy wall of reasonable size near the current price. Who ever this/these buyers are, they are always willing to sell but never willing to take the price down in the process. They want to take some profit, but they care about not crashing monero into the ground. This would seem to indicate that they have a more monero in storage than they are selling. And we know they are selling a lot.
What can we infer about the buyer? well not a lot. He could be a whale who wants more, or he could be a fish hoping to grow into a whale, or he could be a lot of fishes hoping to grow into dolphins. So we dont really know much about them at all. So on average there is a reasonable chance that they are smaller holders.
This hints at the distinct probability that the currency holding is becoming more widely distributed.
If this is this is the case than there are some things we can deduce from this. In a market where the asset is more distributed prices are more useful and more meaningful. Thus as a currency monero has more utility. It means that so long as the price holds throughout this process, the smaller holders are going to be more likely to clench onto their small holdings. After all a small holder is more willing to take a loss than someone who invested a quarter of a million dollars. Also a small holder can wait to cash out on low liquidity (i.e. a higher price) a large holder cant be so focused on the price, he has to take advantage of liquidity where ever he can get it. So the longer this process goes on the more bullish things become. Its like a rocket that's slowly being fueled up.
I have the same feeling but with a different way of thinking. I believe XMR is a WIP that slowly but surely gets where it should be. The good thing is, that it's pretty early for adopters to get in (the price is still pretty nice - I've averaged my stash @ ~0.002) and the variance gives the opportunity to traders to get more for less. I strongly believe that XMR needs to be into more exchanges with high liquidity. Polo is nice but it's also a possible liability. I don't feel comfortable after being Goxxed leaving even 100XMR on an exchange, except if I wish to sell/buy... |
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In every exchange, somebody's dumping constantly. Down we go... I believe we're gonna test 220 again. Arbitrage transfers a dump anywhere to all other exchanges very quickly -- in less than a minute, it seems. The 1-minute charts rarely show a delay. One would have to look at the logs of individual trades to tell who started it. The 1M question is: "But, are they real?"  @Gyrsur: LOL...  |
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In every exchange, somebody's dumping constantly. Down we go... I believe we're gonna test 220 again. |
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