Question as to changing the Clam protocol (or whatever) to prevent future Whale Diggers.
Forgive me if this has been presented before, but there are many pages in this thread now, but:
Has anyone proposed, a new coin being created from burning your Clam coins?
What I am proposing is a secondary coin (like dogeparty), where we burn our clams now, and lock in that total clam cap,
by a certain date. Anyone who wants these non-dig-able Clams after that date, can no longer burn their clams for conversion.
These "cooked" clams would still have staking and etc, but are not diggable and forever fixed, except for the staking.
This allows current Clam Coin to not change its protocol, which is a violation of the social contact,
and would also allow current Clam holders not to lose value with potential whale diggers.
We could call them "Cooked Clams".
I speak for only myself, but I have no desire to splinter the CLAM community.
This doesn't, of course, change the fact that any party could choose to fork CLAM and create such a network.
There was a lot of people margin trading since volume was huge, so that might have been margin call . also is no one ever supposed to sell or whats your point ?
I saw that too. After buying 10k CLAMs and not being able to withdraw them, I put them up for lending at 0.5% per day. They were very quickly taken up by people. The rate has since dropped considerably from lenders undercutting each other, so now you're better off staking instead of lending probably.
When you put up CLAMs for lending that is taken up not buy margin buyers but by people selling CLAMs short (i.e. betting on CLAMs dropping in value), which is something that has been happening a lot during this whole episode. Margin calls on short selling result in market buys, not market sells.
People
buying coins on margin will be borrowing BTC, but it is hard to interpret much from the BTC lending market since people could be doing that to buy any of the coins on margin, and probably most of that is the bigger coins like ETH.
Could you please explain, if you know this, how margin trading works on poloniex? If I short sell like 10k clams and price is stagnating and I decide to close that short will that appear as a buy in market?
The small purchases are made to cover loses incurred by the short-selling (if price goes up after a short-sale, the portfolio has lost 'value', and must purchase CLAM to cover that loss).
At least, that is my understanding of it.
EDIT:
When you close a short-sold position, you must purchase the CLAM to cover your position (and thus reimburse the person you loaned the CLAM from).
Never really participated in margin orders, but that is mt understanding.
