Johnny Mnemonic
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May 25, 2016, 10:08:30 PM |
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When Bitsquare grows to include lending/margin markets and Tether, why would anyone want to put up with Polo's counterparty risk, trading fees, KYC/AMA, and PG rated troll box?
The answer, as always, is convenience and ease of use. Bitsquare requires users to run their own wallet software, where Poloniex is just a website that you can log into and trade. I don't see centralized exchanges going anywhere soon.
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dEBRUYNE
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May 25, 2016, 10:24:54 PM |
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Awesome. Can't wait for ETH support to bring in the drooling masses! I wonder if Poloniex will get around to adding an ETH/XMR pair before Bitsquare makes them obsolete... Has anyone tried the site (Monero or other coins)? It sounds like a great concept, but I haven't seen any user reviews. TheKoziTwo did: I've successfully completed one trade on bitsquare. This is fantastic news and I hope everybody support bitsquare by adding liquidity to the market. I certainly will.
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smooth (OP)
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May 25, 2016, 10:31:08 PM |
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When Bitsquare grows to include lending/margin markets and Tether, why would anyone want to put up with Polo's counterparty risk, trading fees, KYC/AMA, and PG rated troll box?
The answer, as always, is convenience and ease of use. Bitsquare requires users to run their own wallet software, where Poloniex is just a website that you can log into and trade. I don't see centralized exchanges going anywhere soon. I see them as completely different markets. Exchanges offer real time trading, but at the cost of custodial risk, less privacy, and possibly higher fees. Even without Bitsquare there has always been a steady stream of OTC trades of Monero (and I assume other coins) but Bitsquare should make it more convenient and possibly safer, and therefore increase the volume.
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iCEBREAKER
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Crypto is the separation of Power and State.
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May 25, 2016, 10:33:22 PM |
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When Bitsquare grows to include lending/margin markets and Tether, why would anyone want to put up with Polo's counterparty risk, trading fees, KYC/AMA, and PG rated troll box?
The answer, as always, is convenience and ease of use. Bitsquare requires users to run their own wallet software, where Poloniex is just a website that you can log into and trade. I don't see centralized exchanges going anywhere soon. Ease of use cuts both ways, EG when Polo is down from DDOS or too many users, or you are a user in New York State/Venezuela/Iran. Convenience cuts both ways, EG when Polo demands to sequence a stool sample to authorize withdrawls (but not deposits of course) or when they get hacked/Goxxed. Bitsquare only very recently got to the holy grail of a decentralized exchange. Absent .gov crackdowns, they won't replace centralized exchanges soon(tm), but in a few years I expect to run Bitsquare on my phone (natively or possibly linked to a VPS backend like Mininero).
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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Johnny Mnemonic
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May 25, 2016, 10:47:07 PM |
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Ease of use cuts both ways, EG when Polo is down from DDOS or too many users, or you are a user in New York State/Venezuela/Iran.
Convenience cuts both ways, EG when Polo demands to sequence a stool sample to authorize withdrawls (but not deposits of course) or when they get hacked/Goxxed.
Bitsquare only very recently got to the holy grail of a decentralized exchange.
Absent .gov crackdowns, they won't replace centralized exchanges soon(tm), but in a few years I expect to run Bitsquare on my phone (natively or possibly linked to a VPS backend like Mininero).
Agreed that decentralized exchanges are an important check against escalating KYC policies. I also wouldn't be surprised if govt regulation on crypto slowed down as a result of increased use of these systems. I also expect fees on traditional exchanges to increase as large traders will be willing to risk less capital in favor of the security of the alternatives.
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TooDumbForBitcoin
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May 25, 2016, 11:23:21 PM |
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Hueristic,
When Bitsquare grows to include lending/margin markets and Tether, why would anyone want to put up with Polo's counterparty risk, trading fees, KYC/AMA, and PG rated troll box?
Why do you want a G-rated trollbox?
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explorer
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May 26, 2016, 12:03:00 AM |
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Hueristic,
When Bitsquare grows to include lending/margin markets and Tether, why would anyone want to put up with Polo's counterparty risk, trading fees, KYC/AMA, and PG rated troll box?
Why do you want a G-rated trollbox?
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owm123
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May 26, 2016, 12:23:12 AM |
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Awesome. Can't wait for ETH support to bring in the drooling masses!
I wonder if Poloniex will get around to adding an ETH/XMR pair before Bitsquare makes them obsolete...
I doubt it. What is more likely, Polo will remove XMR market and replace with ETH one. More and more often i see ppl asking why there is even xmr market, when xmr has so low volume on polo as compared to eth.
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r0ach
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May 26, 2016, 12:28:25 AM |
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Awesome. Can't wait for ETH support to bring in the drooling masses!
I wonder if Poloniex will get around to adding an ETH/XMR pair before Bitsquare makes them obsolete...
I doubt it. What is more likely, Polo will remove XMR market and replace with ETH one. More and more often i see ppl asking why there is even xmr market, when xmr has so low volume on polo as compared to eth. Because Eth is likely wash traded with backroom deals by poloniex staff to give them non-public rates (which kinda makes them in on the scam). https://bitcointalk.org/index.php?topic=1473947.0
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smooth (OP)
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May 26, 2016, 12:28:52 AM |
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Awesome. Can't wait for ETH support to bring in the drooling masses!
I wonder if Poloniex will get around to adding an ETH/XMR pair before Bitsquare makes them obsolete...
I doubt it. What is more likely, Polo will remove XMR market and replace with ETH one. More and more often i see ppl asking why there is even xmr market, when xmr has so low volume on polo as compared to eth. Then there would likely be an ETH/XMR pair! This would make sense somewhat, but the price of ETH at almost 1/30 BTC is a bit high for it to be as useful. The main use for the secondary pairs is trading lower value coins where XMR's 1/500 BTC is a better fit. The only lower-priced coins with higher volume that would be a good fit for the role would be Factom (barf) or now Lisk (if the volume holds up). Over the two years, the pattern has been for XMR volume to sustain while other temporarily-hot coins come and go. ETH will probably break out of that pattern, but I'm less confident about the others.
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iCEBREAKER
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Crypto is the separation of Power and State.
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May 26, 2016, 03:34:48 AM |
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Polo will remove XMR market and replace with ETH one.
Then there would likely be an ETH/XMR pair! Finally!
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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americanpegasus
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May 26, 2016, 03:00:22 PM |
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The FUD is reaching epic levels. There is so much nonsense spackle about the '12 exploits' but I am quite sure none of them exist. Think about it - if you had an exploit which allowed you to reveal Dash transactions, generate Dash, double-spend Dash, or even defeat the private key encryption... what would you do? Troll the Dash board with claims of existence? No, if you were white hat you would arrange for a dev to get secure hold of these (possibly for a bounty). If you were black hat, you would just use them already and take whatever info / coins you could get your hands on.
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Account is back under control of the real AmericanPegasus.
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noobtrader
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May 26, 2016, 03:12:53 PM |
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The FUD is reaching epic levels. There is so much nonsense spackle about the '12 exploits' but I am quite sure none of them exist. Think about it - if you had an exploit which allowed you to reveal Dash transactions, generate Dash, double-spend Dash, or even defeat the private key encryption... what would you do? Troll the Dash board with claims of existence? No, if you were white hat you would arrange for a dev to get secure hold of these (possibly for a bounty). If you were black hat, you would just use them already and take whatever info / coins you could get your hands on.
or..... he is not into black hat business, and he doesnt want to help monero dev either.
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"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...", satoshi@vistomail.com
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generalizethis
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Facts are more efficient than fud
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May 26, 2016, 03:14:07 PM Last edit: May 26, 2016, 05:59:03 PM by generalizethis |
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The FUD is reaching epic levels. There is so much nonsense spackle about the '12 exploits' but I am quite sure none of them exist. Think about it - if you had an exploit which allowed you to reveal Dash transactions, generate Dash, double-spend Dash, or even defeat the private key encryption... what would you do? Troll the Dash board with claims of existence? No, if you were white hat you would arrange for a dev to get secure hold of these (possibly for a bounty). If you were black hat, you would just use them already and take whatever info / coins you could get your hands on.
My guess is that Mr. Connor put a for sale sign up as a delay tactic and BCX is just a dick acting like a dick in a dick way. Also, in Connor's tweets with fluffy, he promised some sort of happening in march, so....
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jehst
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May 26, 2016, 04:22:37 PM |
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friends, look at the ether chart. looking a lot like bitcoin in 2014.
there's a lot of dumb money on polo right now.
be careful. i'd rather see them lose than you. i would be a seller around .0035 to .004
best call i've made in my life. doubt i'll ever make a call that good again. here's what i'm thinking now. http://coinmarketcap.com/charts/#btc-percentagebtc is historically weak right now compared to altcoins. i'm betting that when bitcoin breaks out of this range, it will reclaim some dominance and climb back to 90%+ of the total crypto market cap. that means that i want to be in bitcoin now so that i can buy more xmr later when btc is dominant.
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Year 2021 Bitcoin Supply: ~90% mined Supply Inflation: <1.8%
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TrueCryptonaire
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May 26, 2016, 05:06:39 PM |
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Bitcoinexpress is indeed active these days. Last time he was active Monero was pushed to the valley of dead, shadows and darkness for a while. Personally I am considering buying some coins at 0.001 price range.
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elrippo
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May 26, 2016, 05:20:53 PM |
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Bitcoinexpress is indeed active these days. Last time he was active Monero was pushed to the valley of dead, shadows and darkness for a while. Personally I am considering buying some coins at 0.001 price range.
I would prefer to use the $/€ price instead of BTCIf BTC goes to 1000$ 0,001 BTC equals to 1$/Monero, which is more than at the moment speaking! If you prefer the absoloute price of 0,5$ then you would need 0,0005 BTC/Monero If you are holding BTC in the majority then it would make sense to mention 0,001 BTC as your personal buyline. I rather prefer $/Monero = 0,5$ and below to buy more. So your statement implicates that you are holding more BTC than $ or € Just my two Moneroj
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For Advertisement. PM me to discuss.
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jehst
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May 26, 2016, 06:00:29 PM |
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So your statement implicates that you are holding more BTC than $ or € not necessarily. let's say my net worth is $100,000 and keep 5% in cryptocurrency ($5,000) within that 5%, i have to decide whether i want to be holding 90% in btc ($4,500-worth) vs. 10% in xmr ($500-worth) or 50/50 or some other allocation. if i think that xmr is severely overvalued against btc, then i will do 100% in btc ($5,000 in btc). if i think that xmr is undervalued, i may go 100% xmr ($5,000 in XMR). let's say that another 30% of my net worth is in precious metals. if i think that silver is severely undervalued compared to gold, maybe i will put the whole $30,000 into silver. when silver rises against gold, i will sell some silver and buy gold. in this example, cryptocurrency is still only 5% of my net worth, but i am still thinking about XMR in terms of BTC. even though precious metals are only 30% of my net worth, i am thinking of silver in terms of gold. it doesn't imply that >50% of my net worth is in cryptocurrency. nor does it imply that >50% of my net worth is in precious metals. i understand why some people think of xmr in terms of dollars. you should try to understand why others think of it in terms of btc.
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Year 2021 Bitcoin Supply: ~90% mined Supply Inflation: <1.8%
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DaveyJones
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May 26, 2016, 06:16:24 PM |
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The FUD is reaching epic levels. There is so much nonsense spackle about the '12 exploits' but I am quite sure none of them exist. Think about it - if you had an exploit which allowed you to reveal Dash transactions, generate Dash, double-spend Dash, or even defeat the private key encryption... what would you do? Troll the Dash board with claims of existence? No, if you were white hat you would arrange for a dev to get secure hold of these (possibly for a bounty). If you were black hat, you would just use them already and take whatever info / coins you could get your hands on.
or..... he is not into black hat business, and he doesnt want to help monero dev either. so that is why in his own words he did the first exploit ... but now he ain´t in the same business he claims? Pls provide deeper thoughts next time
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Kramerc
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May 26, 2016, 07:03:49 PM |
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Stop quoting the troll.
If you like reading nonsense and even spend time responding to it, then please, do it without the quotation, for the sake of the rest of us.
Thank you!
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