Topic: [DATA]Exchanges: their way of using a fractional-reserve and generate inflation - page 4. (Read 17723 times)

Just a challenge to help the discuss: DO NOT HOLD YOUR FIAT MONEY ON THIRD PARTY BANKS - BE YOUR OWN BANK.

People must be aware.... thanks for the help !

Great, thank you very much mate!

For anyone else willing to translate that in other languages if you can please do so.
Thanks

 Ok thank you. i would better start to translate

We really need more decentralized exchanges connected to local atms and traders.

I can aswer for gbianchi and the answer is YES

I really don't know. But I would assume that!

It makes sense that they have an inhouse order book where they keep track of transactions while not moving the actual bitcoins. It is probably much cheaper and faster. Imagine you had to wait 10 or even more minutes for an exchange to confirm (I know there are faster ways at a cost, but still) or had to pay tx fees for dust transaction.

What they do with this "power" is another thing.

I would like to ask, do bitcoin gambling sites function in a similar way?

 Could you let me to translate this topic in Turkish ?

Thanks again gbianchi for your useful explanation, I've added this topic here : https://bitcointalksearch.org/topic/btercom-hacked-7170-btc-stolen-dont-keep-your-money-on-an-exchange-956738

I started looking at BTC in 2011 because of this. After reading what gbianchi wrote I connected the dots and I realized that what you say is really happening.
We're on a fractional reserve banking 2.0 system.
And we have to destroy that in my point of view. It is against the whole BTC philosophy as I see it.

Have you read Orwell's Animal Farm?

There's someone here who's playing the pig's role. All animals are equal at first and then "All animals are equal, but some animals are more equal than others".

This is my view of it.
BTC can't be another ugly monetary system. It's way more than that.
Thanks for sharing your thoughts.

please be more specific
 

anyway, we gave quite a good explanation and then you can just refer to what normal banks do.
There's a lot you can read out there.

but you can say more we might be more helpful. give it a try

I like your reasoning and I think you're onto something. However, may you please elaborate why the fractional-reserve practise you describe becomes more risky/obvious with rising prices?

Don't be depressed.... help us to spread the word  

pretty sure you guys are here on the biggest inherent weakness of the complete system.

all other sentiments except prices were running quite well last year, maybe the sentiment was not that good but this is directly correlated to the price your stuff is probably not the worst explanation.

I directly thought on this thread when the bter event happened.

I'm not a tech-savvy guy but I understand incentive schemes, and btc was the schumpeterian wet dream until I discovered this thread. What almost depresses me is that the centralized places can and could even offer interest on btc and all other cryptocurrencies, while using the btc on a different place. this completely destroys the incentive system bitcoin had offered before - the point is that they can incentivesize hodling on centralized entity.

at this point it looks like the same shit as we have in the real financial world. fractional reserve banking 2.0.

edit:
an interesting look insight can also maybe be given by looking at the btc swaps on finex - you could lend btc at around 5% per year (!) a few days ago - no rational trader would take the counterparty risk for that price for a longer period of time. guess who probably offers the swaps 2. with increasing prices the rate goes much higher, this could be explained by market behaviour, there could also be another explanation

 http://bfxdata.com/swaphistory/btc.php

Yes another exchange was robbed : https://bitcointalksearch.org/topic/btercom-hacked-7170-btc-stolen-dont-keep-your-money-on-an-exchange-956738

Bter booom!

Damn. I was hoping somewhere this has been automated on a website. Great work otherwise.

Maybe someone should create a website that data mines each new block, (or a few blocks a day) like you have done.
I think that information is very important and that all Bitcoin users should have access to that, without needing C++ and Pearl knowledge.

Great work nonetheless.
 

I extrat the data with a c++ blockchain parser and a perl script that I wrote.

^^^Hey, can anyone point me in the direction or provide a link to get the above raw addresses data for myself?

Please PM me the info so I get it.
Thanks.