They run a liquidation algorithm that is supposed to prevent flashcrashes which could result in "socialized losses".
And how would we even know if they did that or have not already done it? I am not sure I understand your question here, could you clarify? |
|
|
|
...
I believe it has never happened, yet.
The actual terms are somewhat more complex, but no question the lender is taking some risk.
Also, even if hypothetically the loan were 100% safe (though I'm not really sure how that would be possible), funds on an exchange are not.
...
https://www.bitfinex.com/pages/howitworks3. Margin Funding
Our peer-to-peer margin funding feature goes hand in hand with the margin trading feature described above. If you are not a trader and prefer steadier returns, this feature may be for you.
Bitfinex allows you, using your Deposit Wallet, to provide margin funding to other traders in the form of bitcoins, litecoins, ethers, and/or US dollars. You can enter offers with your own chosen terms (daily rate of return, duration, and amount). When an offer is taken by a trader, the money in your wallet will be used to buy or sell bitcoins, litecoins, and/or ethers, a margin funding contract will be opened. When the position closes the funds used in that position are returned to your wallet. Fees to the funding providers are paid daily at approximately 1:30 UTC.
You are not exposed to exchange risk when providing margin funding with Bitfinex. The exchange risk is taken on by the trader, and in the case that the position loses money, the trader will cover the loss using funds in his trading wallet.
... my question here is who covers the part of the loss that is not covered by the traders equity? This can happen in a fast moving market where a margin call results in a loss in excess of the traders equity. Maybe they are running a delay? Or they feel the risk is minimal and coverable. After all they do control all the data right? They run a liquidation algorithm that is supposed to prevent flashcrashes which could result in "socialized losses". |
|
|
|
I would really like to see a margin market appear where people can borrow XMR to long other crypto. I just don't like the idea that borrowing XMR immediately means shorting it. Maybe with time and adoption, the volume on the XMR market in Polo will support this.
Why not use your XMR as collateral to go margin long on another crypto? Concept is the same. |
|
|
|
...
EDIT: Thanks aerbax for posting those!
Certainly! I feel like I'm always in a race with you to post the latest news...and you win 95% of the time.  Hehe. I wasn't taking notes though at the meeting, so you win :-P |
|
|
|
I sent an email to cryptonotepool.org.uk. Haven't heard back yet.
I urge other community members to do the same, please send a mail to the pools listed in my previous comment urging them to upgrade. Any Hydrogen Helix version is fine (0.9.x). Just pull your miners on them. That will get their attention faster.  They obviously don't bother monitoring this thread or Github. It's not like we didn't know about this fork a year ago. If they want to profit from miners they should at least make the effort to keep the code up to date. Agree. I also advised this in the thread on reddit and here on bitcointalk in my post. EDIT: Thanks aerbax for posting those! |
|
|
|
I sent an email to cryptonotepool.org.uk. Haven't heard back yet.
I urge other community members to do the same, please send a mail to the pools listed in my previous comment urging them to upgrade. Any Hydrogen Helix version is fine (0.9.x). |
|
|
|
Bump, still no progress from the pools listed below. All others have upgraded and are safe to mine on. Bump, none of the pools listed below have upgraded yet. However, Minergate said they will upgrade soon, see: https://twitter.com/MinerGate/status/710727384136335361PSA: Users, (solo)miners, exchanges/merchants, and pooloperators must be on 0.9.x (preferably 0.9.2) in advance of the hardfork otherwise you will get forked/booted off the network. If you are mining on one of the following pools, please contact your poolop immediately or switch to another pool.
Approximately the 23th of March there will be a hardfork on the Monero network. Most pools have upgraded, but some have not yet. If they don't upgrade before the hardfork they will get forked/booted off the network. As a result you will miss out on revenue if you are mining on these pools. Thus, if you are mining on the following pools, please contact your pool owner as soon as possible and urge them to upgrade. Alternatively, you can switch to a pool that is on the right version. FYI: You can plug the blockheader of your pool into " http://moneroblocks.info/api/get_block_header/hash_of_blockheader". The minor_version must show "minor_version: 2". This means that the pool is on the right version. If it shows "0" or "1" the pool is on an outdated version. An example of a pool on the right version (Monerohash): http://moneroblocks.info/api/get_block_header/2a88740443bf654e595bba7061509e6a3a80623da5de2478c4a90b45454a7fa8List of pools that haven't upgraded yet: List of pools that have upgraded:You can find most pools here: https://monerohash.com/#networkSome of the aforementioned pools are listed there as well. If you are switching, avoid the aforementioned pools.
Binaries:Monero v0.9.2 - Hydrogen Helix - released! (Urgent and important bug fixes for the upcoming hard fork)https://github.com/monero-project/bitmonero/releases/tag/v0.9.2<fluffypony> will do shasums / gpg signed mesage tomorrow Information from Github: This has urgent and important bug fixes to 0.9.0 Hydrogen Helix - Major performance and size improvements to the LMDB database implementation
- Urgent and important bug fixes for the upcoming hard fork
- Huge bug fixes to the database hard fork handling
- New simplewallet flag to restore from keys
- Initial work on a wallet library / API
- Updated in-source block headers
General hardfork information:Background: https://forum.getmonero.org/4/academic-and-technical/303/a-formal-approach-towards-better-hard-fork-managementWhat are the change(s) with the upcoming hard fork on the 20th of March? - Blocktime is bumped from 1 to 2 minutes. See:
https://forum.getmonero.org/20/general-discussion/2401/increasing-the-block-time- Minimum blocksize is bumped to 60 KB. See:
https://forum.getmonero.org/20/general-discussion/2409/increasing-the-minimum-block-sizeA big advantage of this is that current individual transactions that sometimes won't go through (because they are a bit above the median due to many outputs (e.g. dust), or the daemon / MyMonero rejects them for some reason) can easily be included in the block without incurring a penalty. Above is a bit of a blunt explanation, I am sure one of the core-team members / developers could give you a more detailed explanation. - Finally, the recommendations from the MRL team stated in MRL-0004, of which the minimum mixin >= 3 is probably the most salient. See:
https://lab.getmonero.org/pubs/MRL-0004.pdfP.S. Due to variance the hard fork will likely be on the 21th or 22th of March. A specific block height was determined for the hardfork, not a specific date. The specific blockheight for the hardfork can be found here: https://github.com/monero-project/bitmonero/blob/master/src/cryptonote_core/blockchain.cpp#L83// version 2 starts from block 1009827 P.P.S. As long as you are on any 0.9.x version in advance of the hardfork you are fine. |
|
|
|
is it compatible with wp7? i think i have one somewhere from a dev conference. Not sure, you could try of course. |
|
|
|
Bump, still no progress from the pools listed below. All others have upgraded and are safe to mine on. Bump, none of the pools listed below have upgraded yet. However, Minergate said they will upgrade soon, see: https://twitter.com/MinerGate/status/710727384136335361PSA: Users, (solo)miners, exchanges/merchants, and pooloperators must be on 0.9.x (preferably 0.9.2) in advance of the hardfork otherwise you will get forked/booted off the network. If you are mining on one of the following pools, please contact your poolop immediately or switch to another pool.
Approximately the 23th of March there will be a hardfork on the Monero network. Most pools have upgraded, but some have not yet. If they don't upgrade before the hardfork they will get forked/booted off the network. As a result you will miss out on revenue if you are mining on these pools. Thus, if you are mining on the following pools, please contact your pool owner as soon as possible and urge them to upgrade. Alternatively, you can switch to a pool that is on the right version. FYI: You can plug the blockheader of your pool into " http://moneroblocks.info/api/get_block_header/hash_of_blockheader". The minor_version must show "minor_version: 2". This means that the pool is on the right version. If it shows "0" or "1" the pool is on an outdated version. An example of a pool on the right version (Monerohash): http://moneroblocks.info/api/get_block_header/2a88740443bf654e595bba7061509e6a3a80623da5de2478c4a90b45454a7fa8List of pools that haven't upgraded yet: List of pools that have upgraded:You can find most pools here: https://monerohash.com/#networkSome of the aforementioned pools are listed there as well. If you are switching, avoid the aforementioned pools.
Binaries:Monero v0.9.2 - Hydrogen Helix - released! (Urgent and important bug fixes for the upcoming hard fork)https://github.com/monero-project/bitmonero/releases/tag/v0.9.2<fluffypony> will do shasums / gpg signed mesage tomorrow Information from Github: This has urgent and important bug fixes to 0.9.0 Hydrogen Helix - Major performance and size improvements to the LMDB database implementation
- Urgent and important bug fixes for the upcoming hard fork
- Huge bug fixes to the database hard fork handling
- New simplewallet flag to restore from keys
- Initial work on a wallet library / API
- Updated in-source block headers
General hardfork information:Background: https://forum.getmonero.org/4/academic-and-technical/303/a-formal-approach-towards-better-hard-fork-managementWhat are the change(s) with the upcoming hard fork on the 20th of March? - Blocktime is bumped from 1 to 2 minutes. See:
https://forum.getmonero.org/20/general-discussion/2401/increasing-the-block-time- Minimum blocksize is bumped to 60 KB. See:
https://forum.getmonero.org/20/general-discussion/2409/increasing-the-minimum-block-sizeA big advantage of this is that current individual transactions that sometimes won't go through (because they are a bit above the median due to many outputs (e.g. dust), or the daemon / MyMonero rejects them for some reason) can easily be included in the block without incurring a penalty. Above is a bit of a blunt explanation, I am sure one of the core-team members / developers could give you a more detailed explanation. - Finally, the recommendations from the MRL team stated in MRL-0004, of which the minimum mixin >= 3 is probably the most salient. See:
https://lab.getmonero.org/pubs/MRL-0004.pdfP.S. Due to variance the hard fork will likely be on the 21th or 22th of March. A specific block height was determined for the hardfork, not a specific date. The specific blockheight for the hardfork can be found here: https://github.com/monero-project/bitmonero/blob/master/src/cryptonote_core/blockchain.cpp#L83// version 2 starts from block 1009827 P.P.S. As long as you are on any 0.9.x version in advance of the hardfork you are fine. |
|
|
|
LOAN OFFERS Total: 51740.99914053 XMR I vaguely recall them being over 100k this morning or last night. Anyone able to confirm this? Also, rates are around 0.1%, which is quite high. |
|
|
|
I suppose we will be bouncing around between this support and resistance zone until the hardfork.  The support zone is pretty strong since is is (i) previous major resistance (i.e. previous highs (resistance turns into support)) and (ii) tested multiple times on high volume. |
|
|
|
|
Show Posts
