cAPSLOCK
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Activity: 3794
Merit: 5197
Maybe the Mars is the future!
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May 21, 2015, 02:18:21 AM |
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Every coin I own has been removed from all exchanges, i expect this i.d crap to spread among them quickly. I could also be wrong I had like 97 XMR on Poloniex this AM. I had forgotten about them. They have been whisked off as of today. It gets easier to be a bagholder. I would not leave funds in an exchange unless one is activley trading. AML/KNC is the least of one's concerns. Ever heard of MTGox? By the way I will be going for level 3 verification on Poloniex and did not have funds on deposit there when the changeover occured. On another note: The most effective way to squeeze the shorts to the wall is to buy and then take delivery. https://bitcointalk.org/index.php?topic=753252.msg11415501#msg11415501I really did forget that stash.
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americanpegasus
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May 21, 2015, 02:34:31 AM |
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I don't even get why they keep working on Bytecoin. The jig is up. Who's going to use an 82% premined scamcoin?
Everyone wants to be in on the next big crypto pump, when good and bad alike get pumped, especially if they can stay in the top 20 or so. And if you look at the absolute crap in the top 20 these days, it doesn't take much. They're paying one or two developers in a third world country to pretend to do real development. How expensive is that? As coin scams go, it's fairly smart. Bytecoin was likely a pre-alpha testnet, and remains as a false flag meta-lightning-rod. The evidence is pretty overwhelming, if anyone cares to do the resea... Sorry, I meant: BUY MONERO. MOOOOOOOOOOON
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Account is back under control of the real AmericanPegasus.
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mrkavasaki
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May 21, 2015, 02:40:41 AM |
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moooon?? lol THIS PIECE OF SHITCOIN IS GOING NOWHERE BUT DOWN!!!!!
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smooth (OP)
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Activity: 2968
Merit: 1198
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May 21, 2015, 02:42:24 AM |
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No posts deleted but consider this a warning to raise the level of discourseNon-substantive comments such as Monero sucks, Monero is a scam, Monero is great, Monero to the moon, etc. are considered off topic. Every post and reply should add to the discussion.
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ArticMine
Legendary
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Activity: 2282
Merit: 1050
Monero Core Team
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May 21, 2015, 02:51:13 AM |
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moooon?? lol THIS PIECE OF SHITCOIN IS GOING NOWHERE BUT DOWN!!!!! There are over 30000 XMR on offer for lending at Poloniex with some very attractive rates, for those who wish to act on mrkavasaki's recommendation and sell XMR short. I for one am not planning on following mrkavasaki's recommendation. If a real short squeeze develops here it can be very interesting.
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americanpegasus
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May 21, 2015, 03:02:53 AM |
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moooon?? lol THIS PIECE OF SHITCOIN IS GOING NOWHERE BUT DOWN!!!!! Yes, I agree with the above poster. Please come short the coin. If you don't think this is the time to acquire, because of the fear and uncertainty, you are wrong: but at least you will not lose money. You will just lose out on some outrageous profits over the next month. But if you think that now is the time to short Monero.... please do. All you dash-tards and Monero-sux clowns, come on in. The borrowing rates are attractive and the sooner your trading account gets vaporized, the sooner we can get back to reasonable discourse about the likely future price movements of this exponential asset.
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Account is back under control of the real AmericanPegasus.
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celestio
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May 21, 2015, 03:09:41 AM |
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I believe some of these trolls like mrkavaski are truly ill..
Calm trolling most of the time, then Boom, explosive trolling out of nowhere.
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"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime" - Satoshi Nakamoto, June 17, 2010
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smooth (OP)
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Activity: 2968
Merit: 1198
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May 21, 2015, 03:13:16 AM |
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When you lend to other users using the Platform’s P2P lending system, you risk the loss of an unpaid principle if the borrower defaults on a loan and liquidation of the borrower's account fails to raise sufficient funds to cover his or her debt. Be warned. Also, Poloniex, if you're reading this, check your spelling.
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americanpegasus
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May 21, 2015, 03:16:55 AM Last edit: May 21, 2015, 03:29:22 AM by americanpegasus |
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I believe that once the Polo-exodus is over (soon), we are going to see sentiment shift from bearish to positive again. Once sentiment shifts, something awesome is going to happen. XMR will start to trickle up, and people will enviously eye the positive returns it is generating. Wildcard: XMR holders can leverage their XMR to buy more XMR.. This is unwise, but will happen anyway. All it's going to take is the first good green candle or two, and people will say, "Hey, Monero is going up. I want more." (Remember that climb to 260 a few days ago?) Before when their warchest of powder ran out, they were dry and couldn't buy anymore. But now they have leverage.... a LOT of leverage. 2.5x to every Polo customer is nuts. And this is going to cause people to jump on the Monero bandwagon quick. So we are not only going to see any short positions get vaporized pretty quickly, but soon afterwards the madness will truly begin. After all, if Monero only goes up, lets leverage harder! We can just close those positions out later anyway. Basically, I'm forseeing a temporary XMR bubble forming over the coming couple of weeks/month based off this new leverage that Polo has extended everyone. It's going to be a fun ride... unless you accidentally get caught at the top. Be careful, and don't buy more on Margin than you can afford to lose.
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Account is back under control of the real AmericanPegasus.
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wpalczynski
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Activity: 1456
Merit: 1000
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May 21, 2015, 03:45:21 AM |
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When you lend to other users using the Platform’s P2P lending system, you risk the loss of an unpaid principle if the borrower defaults on a loan and liquidation of the borrower's account fails to raise sufficient funds to cover his or her debt. Be warned. Also, Poloniex, if you're reading this, check your spelling. How could this be? Wouldnt the algorithm liquidate the position prior to any loses for investors? Has anyone ever lost BTC lending on finex?
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smooth (OP)
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Activity: 2968
Merit: 1198
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May 21, 2015, 03:46:33 AM |
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When you lend to other users using the Platform’s P2P lending system, you risk the loss of an unpaid principle if the borrower defaults on a loan and liquidation of the borrower's account fails to raise sufficient funds to cover his or her debt. Be warned. Also, Poloniex, if you're reading this, check your spelling. How could this be? Wouldnt the algorithm liquidate the position prior to any loses for investors? Evan gets hit by a bus.
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luigi1111
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Activity: 1105
Merit: 1000
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May 21, 2015, 03:59:43 AM |
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When you lend to other users using the Platform’s P2P lending system, you risk the loss of an unpaid principle if the borrower defaults on a loan and liquidation of the borrower's account fails to raise sufficient funds to cover his or her debt. Be warned. Also, Poloniex, if you're reading this, check your spelling. I don't know about you, but I'd love to get paid for my principles.
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ArticMine
Legendary
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Activity: 2282
Merit: 1050
Monero Core Team
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May 21, 2015, 04:01:50 AM |
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When you lend to other users using the Platform’s P2P lending system, you risk the loss of an unpaid principle if the borrower defaults on a loan and liquidation of the borrower's account fails to raise sufficient funds to cover his or her debt. Be warned. Also, Poloniex, if you're reading this, check your spelling. How could this be? Wouldnt the algorithm liquidate the position prior to any loses for investors? Has anyone ever lost BTC lending on finex? A margin call on a short is basically a market buy order. Now there are over 30,000 XMR on loan offer. Try buying 30,000 XMR at market. It actually gets better. Let us say some long term XMR investor smells short blood and decides to market buy by taking out a fake sell wall. If there are significant over leveraged short positions the resulting short squeeze can easilly set off a buying panic and the shorts cannot be covered without a loss to the lenders.
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americanpegasus
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May 21, 2015, 04:50:31 AM |
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I created a pretty elaborate technical video demonstrating my thoughts in light of the recent leveraged "short" dumps that are occurring on Poloniex. https://youtu.be/PD5Imb7vWSc
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Account is back under control of the real AmericanPegasus.
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americanpegasus
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May 21, 2015, 05:14:49 AM |
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I laughed my ass off, thanks. Not sure how I haven't seen that before.
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Account is back under control of the real AmericanPegasus.
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Anon136
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Activity: 1722
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May 21, 2015, 05:33:33 AM |
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I laughed my ass off, thanks. Not sure how I haven't seen that before. you and i both man. i laughed so hard when i first saw that. one of those sorts of laughs you only get to experience a hand full of times in your life.
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Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
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aminorex
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Merit: 1030
Sine secretum non libertas
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May 21, 2015, 06:04:44 AM |
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Smooth, you are far too hard on Busoni. No one is going to lose coins. They will just be limited in the rate of withdrawal. In fact the limits are high enough so that perhaps no one in xmr will actually encounter them in practice, given current xmr distribution and price.
I had far too many coins there, and this served as a needed prompting to reduce that number, so I closed out of plx entirely. Then I openned a new acct and verified for a 25k usd per diem cap, in case I should ever need to use plx liquidity in an emergency.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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smooth (OP)
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Activity: 2968
Merit: 1198
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May 21, 2015, 06:07:10 AM |
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Smooth, you are far too hard on Busoni. No one is going to lose coins. They will just be limited in the rate of withdrawal. No, the limited rate is 0 if you don't verify level one. That's a change to the terms. There should be an opt out (closing account and refunding coins), or a least a decent notice period. People were on the trollbox a little while ago complaining they hadn't seen it and it had already gone into effect (based on UTC) I'd have far less of an issue with it just being rate limited, but that's not what happened.
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americanpegasus
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May 21, 2015, 06:13:25 AM |
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Smooth, you are far too hard on Busoni. No one is going to lose coins. They will just be limited in the rate of withdrawal. No, the limited rate is 0 if you don't verify level one. That's a change to the terms. There should be an opt out, or a least a notice decent period. I'd have far less of an issue with it just being rate limited, but that's not what happened. smooth, we have to assume that the people running Polo are rational players who don't want to piss off their customers. They had to have known that making these changes happen within two days was going to do that. It makes no sense for them, either socially or financially to *want* to piss off their customers. Polo denies it up and down, but the timing coupled with the fact that they stay silent everyone someone asks them to explain why they choose to implement this policy in two days suggests to me that their hand was forced, and likely they can't discuss it openly. There is simply no way they would flagrantly pee on their customers like that without good reason. These aren't asshat bankers; they are crypto true believers who recognized the appeal of XMR so much they featured it heavily. So I think we should be mad at the situation, but not blame Polo too much. It really doesn't feel like their fault.
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Account is back under control of the real AmericanPegasus.
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