The FTX issue has affected Solana real bad but I'm sure that things will still get better for it especially when the market goes into its recovery phase. Solana has built a good foundation already so it wouldn't crash continuously that easily. There will be investors who will doubt and would feel hesitant but I'm sure that it still has a huge potential to rise again. We only have to wait until the market recovers.
FTX dumped a lot of SOL which helped drag the price down. That dump should be finished by now, and margin calls should have stabilized. I don't believe there is anything fundamentally wrong with SOL and it's network, therefore it should crawl back up once this "dump everything flight to USD" cycle is finally over. |
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FTX has disappointed everyone and mind you, this is worst than the time of Mt.Gox when crypto was still fighting for more adoptions. I believe they caused the panic and started the distortion thinking that they will get away with it. This is particularly as their headquarters is in Nassau in Bahamas where they believe regulation is much weaker than in the US, EU and others. But the country has proven itself now.
If not for this shady plan, Binance would have bought it and everything would be silenced. But who would buy a problematic asset? All of their plans have backfired. More investigations should shock us more over time.
It's worse than Mt Gox, because FTX happened at a time when money is fleeing risky assets to the USD. There is a lot less money circulating than last year because of Fed rate hikes. Not so easy to borrow anymore. So people that were sitting on the fence wondering if to cash out into USD, suddenly FTX headlines gave them a reason to do so. |
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That sounds so wrong, what's next nVidia asking for KYC to purchase a video card?
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Binance just reset all the API keys! So anyone running bots are going to be broken until you generate new keys. Fellow Binancians,
Binance has removed all prior existing API keys and has now re-enabled API key creation. API users may now recreate their API keys from their user account center.
Another announcement regarding the re-opening of trading will be made once the maintenance is complete. Please stay tuned for further information.
We apologize for any inconvenience caused, and thank you for your patience.
Thanks for your support!
Binance Team
2018/07/04 |
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No idea, but it looked like a good buy opportunity.
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Why dont you upload your ID, have your account verified, withdraw your coins and never come back? I think some people dont have the proper IDs to have them verified. There are some people who have multi-accounts on the site which they dont want to be caught red handed wash trading low volume coins.
I am pretty sure that's what a lot of people are doing, otherwise how to you explain the sudden drop in Bittrex market share since they started this verification scam. Remember the old adage, "only 4% of customers complain, 96% will simply go elsewhere" I see it ending either with the Bittrex shareholders screaming blue murder, and forcing management to do the right thing by the clients to stop the exodus, or Bittrex quietly fades away as more honorable exchanges take over Bittrex clients. Remember the AML, KYC cover story for suspending withdrawals on unverified accounts is bogus on two fronts. Firstly, Bittrex don't do fiat. Secondly they could move their headquarters offshore if they wanted to do fiat and skip all the nonsense. Either way, the don't have a feasible excuse for suddenly seizing their customers funds and holding them ransom until they get private information (which has value) from them. |
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I had a problem with account verification because of non-English character. After a month passed without any reply from support, I mentioned about the problem over twitter. Even I don't have more than 10+ follower, they sent an e-mail to and they said they are about to hire more people to their support team. Probably they found my e-mail address by ticket number. And a week later my verification was completed.
Yeah but, you shouldn't have to verify yourself in order to withdraw cryptos, that's pretty stupid and the fact that they did it without any kind of notice is suspicious. Any other exchange has a limit on how much cryptos you can withdraw without verification but all of them let you withdraw at least something. I think it's a scam to collect personal data, some DHS staff joined Bittrex in December. http://uk.businessinsider.com/bittrex-hires-two-former-homeland-security-chiefs-amazon-security-exec-2017-12If they were honest, Bittrex would have given people notice and a grace period to withdraw their funds. As I result I can see that Bittrex are loosing market share, fallen down from number 2 spot to number 7 since they did this. |
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Alt coins have been doing really badly for over a week now, not sure why haven't seen it this bad in previous BTC rallies.
The top 10 market cap coins are really struggling against BTC, even ETH is down over 30% in the past couple of weeks.
The crazy thing is that BTC only represents 38% of the crypto market cap, in other words the alt coins represent 62%.
I blame the exchanges. They are slack when it comes to USD or USDT alt coin pairs. They prefer to pair only with BTC.
If most alt coins were able to pair with fiat instead of going through BTC the market would improve greatly in terms of independence.
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5m5 minutes ago
All of our engines are back online and we are processing data validation for pre-trading at the moment.
We hope to have an updated, accurate ETA to provide shortly. Thank you again for your patience; we are in the final stages of preparing the exchange for normal operations.
Getting close to the 30th hour of the one hour maintenance. Fingers crossed this time. |
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So why doesn't a billion dollar company like Binance have a full disaster recovery center at another location that they can flip over to anytime it's needed rather than having a 30 hour outage so far?
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Data recovery was successful and we are in the process of prepping the system for return of services. We do not have an exact ETA to provide for this process but we expect at least another 1-2 hours. We appreciate your patience and we hope to be operating normally again shortly. https://twitter.com/binance_2017So they stall once again another 1-2hours, that's the 4th. stall now. |
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They just tweeted that it's another 1-2hours.
They keep moving the target.
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Well, it's probably cost them over a $billion in lost trade today, plus whatever business they loose from pissing off clients for not giving warning of the maintenance.
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Still no word on why Cardano (ADA) withdrawals have been unavailable for over a week.
What's happening?
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Why have Cardano (ADA) withdrawals been disabled for the past week?
I full wallet re-sync on the Cardano block chain only takes an hour or two, it's not that large yet.
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AML/KYC regulations. The issue isn't taxation, but money transmission. Chairman of the SEC, Jay Clayton, made that clear in a statement last month: As I have stated previously, these market participants should treat payments and other transactions made in cryptocurrency as if cash were being handed from one party to the other. US money transmiters fall under the jurisdiction of the Bank Secrecy Act, which requires KYC. The exact requirements (for example, whether SSN is really required) aren't clear to me. But it seems like Bitcoin exchanges are increasingly seen as "financial institutions": The BSA requires financial institutions to engage in customer due diligence, or KYC, which is sometimes known in the parlance as know your customer. This includes obtaining satisfactory identification to give assurance that the account is in the customer's true name, and having an understanding of the expected nature and source of the money that flows through the customer's accounts. Where, in US law, does it say that an exchange like Bittrex which doesn't deal in fiat, is classified as a "money transmitter" ? |
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Binance have some real problems atm. eg. you haven't been able to withdraw Cardano (ADA) for about a week, keeps saying network error which is BS, Cardano wallets elsewhere are working fine. I suspect they are overloaded with support issues, and Cardano withdrawals are just a side effect.
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So what is VISA's reason for suspending pre-paid cards?
After all they are pre-paid so there is no credit risc.
Governments and tax offices whining about money laundering and tax evasion I guess? In which case it should effect all pre-paid Visa cards, not just crypto related ones. |
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