You summed that up very well. Please share with us you you tink might happen if you had to guess.
[/quote]


In the past I have misjudged inertia rather badly, e.g.  I was a researcher at AT&T Bell Labs back when Lucent was created, cleaving the equipment
design/manufacture from the service. A rampant question among us was where to go? Lucent or AT&T? I knew quite a lot about the
products Lucent would inherit and I was confident that Lucent was ultimately a loser... too big/wasteful/slow/unaware/noncompetitive relative
to all the hungry upstarts.

I knew it was a loser, but made the mistake of thinking that because the collapse was inevitable, because I saw it, it would start happening.
It did happen, but first I watched a 20-30 times price growth in the stock over a couple+ years   -  a case of "the market can remain
irrational longer than you can remain solvent'.

Many people in this domain have very strong opinions about what is going to happen.
It is a very human way of processing information. Start with agenda; weigh each piece of information as it comes in; if it supports my agenda I
call it true; if it hurts my agenda I call it false, and slander the source of the information while I am at it.

I am interested in profit, not satisfaction for my id (as in the Freudian id).
So... to answer your question, I really do not know. I feel sure it will be a problem, even with support for a "solution", rolling it
out at current political/monetary scale will be non-trivial indeed.

But I respect the power of inertia which I suspect will keep the ball rolling
until there is enough critical mass of complaint.

Right now I have traded  more than 1/2 of my btc for eth (and some etc), since that is a logical path
for a BTC holder to solve the delay and expense problem. I'm guessing eth will continue to gain market share
from btc, and it could run up quite a bit more before it is done. They also have a good mass of marketing/hype going.
I'm about 25% cash, and I have software keeping a very close eye on the fear/greed price dynamic. I'll be happy
to jump ship when the mood changes or the next piece of disaster-news pops up.

If I could find cheap long-term puts, out of the money LEAPs for btc, I'd be buying some.

>>At what point will the backlog of unconfirmed transaction affect BTC price?

I don't see how it can be a total non-issue, nor the logic that people don't really transfer them therefor
they don't suffer the problem first hand.  The transactions come from use by definition, no?

Investment in/deployment of  the underlying technology is sprouting like weeds. That inertia combined
with btc owning the top spot combined with pure speculation provides inertia to the price, but
multi-day waits and way-too-high fees will surely take a toll.

Market share loss has already been significant... but when, how high, and does a solution front-run
any serious damage?  No idea, but I'd like to know as well.

For all the 'great minds' to go after the reward, they would need a pretty deep inside connection
to Bitfinex... which is pretty unlikely

Do they get a commission for BFX trades?

I wonder what the commission will be for trading their iou's...

>>I think they will cover the loss very fast


Hopefully, but they have to have it to pay it out.
How many people will remain, continuing to pay commissions do you think?



I was all fiat, but don't ever expect to see it back. I'll believe the 63.5% only when I have
it somewhere really safe.


...and what are the odds personal stakes on their side will
be dipped into to make customers whole?

>>start making some noise on reddit? that seems to get more of a response.

I will give that a try, thanks.

Define  "on hold", say what is needed, don't say "success" when it isn't, and answer support tickets... is that
really so hard? A little text explanation could preclude all the effort and grief.

Three transfers in were easy and quick, but nothing can leave... Right now it is just
a black hole to me.

How can they maintain a user base?

I tried bittrex as the 3rd option and it all went smoothly. So I will start sending them
my business in increasing increments as long as that maintains

After getting stabbed through the heart by bitfinex I was looking around
for another eth/etc trading platform. So there was Kraken... I had an account already from some
time in the past and it was still active.

I transferred some funds (crypto) in, made a trade, and transferred the resulting crypto out.
I got the "success!" email, and was well within the account limits for the withdrawal.

Despite the "success!" message, the withdrawal sits  on "hold" status, and there has been no response to
the corresponding support ticket. Also, no security procedures are turned on
or in play.

It was a token amount, but material, and coming on the heels of bitfinex.... arrrghhh

I can find no reason for the hold, no need to satiate to remove it, and no response from
support 

Can any kind soul shed some light?

thanks

I'd like a disclosure about personal holdings on Bitfinex among the people who made the decision
to "socialize" the losses.

Did any of them personally benefit from that decision? if so, by how much?

if you had used those "10s of thousands of dollars" to buy btc instead of mining hardware then
your hypothetical rise from 200 to 1500 would have been a much happier event

spend 2k to earn $5 or $6 a day or so?  
and the amount earned drops every few days?
plus time and effort...

no, it's not worth it, but
people like doing it

"...which rightfully belongs to me in the first place"


Willingness or even desperation to get funds returned is understandable, as you have no
leverage.  But the TOS states:

"Once a deposit is made, the funds transferred become the property of DGEX.com and the client can hold no claim for the funds displayed on their DGEX.com account should any unforeseen circumstances occur. "


So as soon as you made the deposit, the funds were no longer yours. The second phrase is subsumed by
the first, and certainly unclear however in any case, the bar  of one 'unforeseen circumstance' is quite low
and defined completely by them.

Whether such an agreement could hold up in court is another
discussion, but on the surface, once you made the deposit the funds were not yours to reclaim
Anything returned to you was superfluous.

I think the benefits to merchants can be compelling beyond the front-end publicity/hype.
Though I wonder if the merchants can in turn induce joe-consumer to use bitcoin. There just is
not enough incentive for most people to bother to use it for transactions.

There is a lot more appeal as a a store of wealth, but that is also where a lot
of conflict arises with powers-that-be.

It is what it is.  Maybe better to just move on.

If they want public support for a coin, they need to support the public.

A programmer can fill in the blanks, adjust the pointers and get it running, but an
audience limited to programmers is unlikely to ever build any kind of significant value in the coin.

Yes, a programmer can fill in the blanks and adjust the pointers to make it work, but
I think the issue is releasing it to the public. Those operating by pattern recognition
are obviously having a lot of issues, most of which more thorough preparation could have avoided.

a couple thing I worked around so far in case they are of some help to others:

are you getting "Redirection is not supported." ?  
    use -T when you run the miner.  this seems to be a curses related problem (used for direct cursor address to display the screen)

did you make your own  .conf file because you did not see one?
  put it in c:\users\yourusrname\AppData\Roaming\Ultracoin\Ultracoin.conf   it does not seem to look in the current directory first

on *nix, when you set a port in the .conf file, use netstat -an  to see if it actually is listening there.  if not, your .conf is not being read




devs here are not crap/worthless/garbage, etc.  they probably just underestimated the effort.  a professional dev, who makes his/her living
at this is used to releasing to a schedule for an audience of 24/7 users ... well, this could have used a couple of those along with a decent systems engineer

better to slip the date and give yourself time to get it right. at the very least they need to COMMUNICATE  

a few typos from index.html:


index.html -

  of a Ultracoin balance   -   s/b   of an Ultracoin

  that means you can send or receive ultracoins   -  s/b  Ultracoins

  Scrypt Jane coding you can feel at ease, You won't   -  s/b a period after 'ease' instead of a comma

  involved in the mining of blocks if they hold Utc.   -  s/b  UTC (maybe)

  Many statistics such as stakeholder purchases, wallet contents, real time pool data   -   sentence fragment

  Team members who love crypto, and are in it long term.    -   not a sentence

  businesspartners    -   s/b  two words

>> Anyway, is there any alternative to DigitalOcen (free or cheap VPS or dedicated servers)

all judgmental notions aside, I have to agree with the other poster that
spending some time looking into this would be wise before launching into it
again.

Why would anybody, anywhere, ever provide you with free profit?  the answer of
course is that they won't. If you spend money to mine, you will be taking the risk
that future gain will provide your return.... or perhaps I am the one being naive, since your
technique so far has yielded 0.3 btc with no actual payment on your part.  perhaps you
can just rinse and repeat and hope you never get caught (ok, a teeny bit of judgmental language)

 

Getting your legal team to send out threatening letters may be manageable, but
the cost of actual pursuit is very high.

filing in a court, at a distance, seeing it through to a judgement, THEN starting to try to
collect... speaking from experience, I can tell you that's a lesson you only need to learn once.

The vast majority of unpaid charges are just written off and not pursued. That is
the case when a business has the resources to bother (but won't because it is rarely
cost effective to do so). When the company is small the likelihood of an ultimately
successful pursuit is near zero.

they may try, and re-try charging the card in the future to capture (more of) the payment,
but you can control this as you already suggested.

this is of course only my opinion. good luck to you.

If you feel you have been ripped off, you can contest the charges
by calling your cc provider.