 Show Posts
|
|
Pages: [1] 2 3 4 5 6 »
|
So I forged a block with the acct# in my sig today. There is only 23000 NXT in that account. SEE IT CAN HAPPEN!  Mises |
|
|
|
There is a new developer working on this right now.. |
|
|
|
Who is Ricky Robertson?
The Sheriff |
|
|
|
I thought you guys had moved to the new thread.
I dont remember agreeing to moving. It is easier for me to follow a linear thread. I can see people coming back really quickly. I was planning on staying to keep Emule company in the dark. how nice of you. shall we dump some toghetter? Afraid I only have 56K worth. Won't move the price much. lets play a game: sell them all the way down to 0.00006 than you put buy order for 60K @59000 and i fill it  that is the power of 56K makes you wonder what 1M can do? Just clear the order book completely. Let the market determine the new price. And we will have a nice big red bloody candle to remember you by, forever.  |
|
|
|
|
FOR ANYONE WHO HAS FUNDS ON VIRCUREX:
Frozen Funds
In preparation of the following, we have with immediate effect stopped the possibilities to withdraw BTC, LTC, FTC and TRC. All incoming deposits will also not be credited to the users accounts for the time being.
On 24th March 2014 we will be freezing the current BTC, LTC, TRC and FTC accounts, then perform the below distribution of the available coins and reenable deposits and withdrawals. This action will also require us to delete all open sell orders for BTC, LTC, FTC and TRC.
As you may very well be aware, we had two incidents last year that lead to a loss of a significant number of BTC, LTC, FTC, TRC. We had communicated at that time that we will be covering those losses from our income, which we have done so far. We had enough coin balances in our cold wallet to upkeep our platform and the positive cashflow enabled us to gradually refill the wallets.
Unfortunately we had large fund withdrawals in the last weeks which have lead to a complete depletion of our cold wallet balance and we are now facing the option of either closing the site with significant unrecoverable losses for all or to work out a solution that allows the exchange to continue to operate and gradually pay back the losses.
We have obviously chosen the later and hence are going to do the following:
1. We will introduce an additional balance type called "Frozen Funds". Funds in this balance type cannot be used to trade or withdraw. Those are the balances that the exchange will gradually pay back and hence transfer back to the available balance over time.
2. We will move all current balances for BTC, LTC, TRC and FTC to the "Frozen Balance", i.e. your balance will be set to 0.
3. We'll take the current available cold storage balance and distribute it based on the below described distribution logic.
4. Monthly we will take the net profit of the exhchange and credit back that amount distributed to the users based on the described distribution logic.
The freezing of the balances is a one-time action, it does not affect future deposits in any ways.
Distribution logic
50% of the amount will be distributed top down and the other 50% will be distributed bottom up.
Top down means: credit the amount from the largest account balance down to the smaller accounts Bottom up: credit the amount from the smallest account balance to the larger accounts.
Example
User 1: 5 BTC
User 2: 4 BTC
User 3: 3 BTC
User 4: 3 BTC
User 5: 3 BTC
User 6: 3 BTC
User 7: 1 BTC
Amount to distribute: 12 BTC:
Step 1: Top down distribute 6 BTC:
User 1: Credit 5 BTC
User 2: Credit 1 BTC, remaining frozen balance = 3 BTC
Step 2: Bottom up distribute 6 BTC:
User 7: Credit 1 BTC
User 6: Credit 3 BTC
User 5: Credit 2 BTC, remaining frozen balance = 1 BTC
This approach has the advantages that
all users will eventually receive their funds, though the timeframe depends on the monthly volume available
new deposits and users are not penalized, thus supporting the ongoing operations of the platform
fund withdrawals from the available funds are guaranteed, no surprises or unecessary delays
We believe that this is the best way forward and hope for your support and understanding.
|
|
|
|
Yeah, looked fine to me too...must be Cryptsy's problem. No idea about the weird dates and the "9 confirmations" thing....but the balances are right. It does say "unconfirmed balance" on the Cryptsy wallet though (in the block explorer...Cryptsy website has no record of it).. |
|
|
|
Hi Brian. Thanks for posting your concerns in detail. I found it easier to digest than trying to follow the back-and-forth nature of discussion here. I agree that the fee thing needs to be sorted out with an eye towards future price appreciation. Unfortunately, I don't think there is a simple solution. Charging fees based on bandwidth usage or size of transaction seemed like an elegant solution when I first heard about it. However, as nxt intends to compete with a variety of financial systems, each with complicated fee structures of their own, I'm concerned that some great nxt services will be "priced out" of the market, while other services will be unnecessarily cheap. When thinking of nxt as bitcoin in the future, I think the analogy breaks down when talking about fees. Specifically, the future of bitcoin assumes much lower price volatility. Therefore, denominating fees in bitcoin instead of fiat isn't a big deal. For us, we expect high volatility for the near term. Denominating fees in terms of fiat (or gold or any other asset with lower volatility) might make sense in the near term. With regards to charging fees for placing an order in the asset exchange, I think that there is room for the nxt AE to improve upon the way markets currently work. If you follow nanexllc on twitter (his work has been featured in the Wall Street Journal, amongst other publications), you will learn that high frequency trading firms have been abusing the stock markets in the United States. They take profit, and justify this profit by claiming to increase liquidity and lower the bid-ask spread. However, in reality, the displayed liquidity (order book) can rarely be accessed by real trades, and orders often disappear before a counterparty can fill them. I know that setting walls is a strategy for day trading. However, for a wall to be effective, it has to be large. This implies that the fee would be tiny in comparison to the size of the wall. Additionally, Nanex's recent studies show that the bid-ask spread has not tightened over the life of the current regulation (Reg NMS). Based on these issues in current stock markets, I am suspicious of HFT terrorizing our infant network, and I think that charging fees for placing an order prevents both spam and these predatory trading practices. We aren't designing the AE for the profit of algorithmic day traders. My 2 cents on HFT: it's becoming very obvious that trading bots are being used to HFT the fuck out of some exchanges. Cryptsy trading is now becoming almost impossible for manual traders in popular markets. I spent 15 frustrating minutes trying to place a buy order for LTC->NXT last night, got topped by 50 satoshis on every buy order I placed wihtin less than a second of placing the order. In the end, i just hodled the LTC, which made me cry a little this morning. I started off not liking the idea of a fee on the AE for just placing an order, but HFT is taking predatory capitalism to new heights (or lows, depending on your point of view) and fees may well exclude these traders from the NXT AE, which is a good thing IMHO I have been trying to buy NXT today on Bter... annoying as hell. Still holding my BTC. I feel your pain brother! |
|
|
|
|
BTER (again)
0.00005000 2,069,503.024 103.4751
|
|
|
|
AAAAND 2m buy wall gone Good. Maybe my order will get filled now.. |
|
|
|
There's market manipulation going on right now. Someone forced the market down to get a bunch of cheap coins before the next pump.
Yeah, I hope it will go back up soon. Bought at 1540 so I'm not in a comfortable position right now. Ouch. Don't worry too much I think we are about bottomed out now. |
|
|
|
|
Picked up an extra 37k C2 through trading today.. ready for another round!
|
|
|
|
Coin2 (C2) - Revolutionary Cryptocurrency haha thats awesome |
|
|
|
What does Adam B Levine have to say about NXT?" I have 8 projects that I am working on. So far we have two of them on Counterparty, one of them on Mastercoin.. I want to do one on NXT, pretty much as soon as possible. They have some of the best software out there as far as I have seen. The wallet is really outstanding. It's funny, it's like looking on what a future version of bitcoin will be. But, you know, it's here now and you can see it."http://www.youtube.com/watch?v=hcFGR_VUheA&feature=share&t=15m15sLTBcoin and the Future of Media - Q&A #1 Mises I think the above quote from Adam B. needs to find its way into our marketing material. I could kiss him...... Agreed (minus the kissing) |
|
|
|
What does Adam B Levine have to say about NXT?" I have 8 projects that I am working on. So far we have two of them on Counterparty, one of them on Mastercoin.. I want to do one on NXT, pretty much as soon as possible. They have some of the best software out there as far as I have seen. The wallet is really outstanding. It's funny, it's like looking at what a future version of bitcoin will be. But, you know, it's here now and you can see it."http://www.youtube.com/watch?v=hcFGR_VUheA&feature=share&t=15m15sLTBcoin and the Future of Media - Q&A #1 Mises
|
|
|
|
how the hell do i come back to see i have nearly 600 nodecoins?? :/
 |
|
|
|
|
Joel, any thoughts on implementing KGW or Digishield or something similar?
|
|
|
|
Just passed $10k in 24 hour volume...nice  lookin good! |
|
|
|
Mises_77: I sold some Nxt to buy at 313 Nice. I have BTC sitting in a ultra low buy for NXT, Just waiting for the dump.. The dump always happens so I am not worried about that. I originally gave all my C2 to my kids and bought more at 20 satoshi! Sold that off and bought in again I think around 275-300 sat |
|
|
|
|
