Topic: Obyte: Totally new consensus algorithm + private untraceable payments - page 11. (Read 1234316 times)

Maybe ease off on smoking weed - you are getting paranoid.

First thinking that exchanges follow KYC and AML rules to scam people and then thinking anyone who understands why they do KYC and AML, must be paid off.

Grow up and don't keep/send on centralized exchange more than you are ready to lose.

I think so, but there is no UI for that yet, it needs to be done  programmatically with headless-obyte or obyte.js library. For example, chatbot can generate payment request for multiple assets, oswap.io does that for adding liquidity.

of course, every customer received a notification about the changed terms and conditions and could agree or not -> if not - dissolution of the business relationship.
In which country do you live?

From Bittrex comes only a terse email and a week to react!
and that in the holiday season when many are not regularly active in the Internet.


is that serious business for you?


edit:

It almost looks like you have some kind of business relationship with Bittrex.

Profit-sharing?

End of the discussion on this topic here with you

I have one question about bonded stablecoins. Is any way to redeem both t1 & t2 (e.g. IUSD & GRD) in one TX to minimise curve fee and t2 price impact?

What are you talking about? Did somebody forced you to use the exchange? Did your bank asked your agreement when they started following the new 5th Anti-Money Laundering Directive (AML5D)?
No, they did not.

If you make a transfer to your bank account and they find it suspicious, they will ask source of funds. If you make a transfer to your bank account and the amount is bigger than 10 000 USD, they will have to ask source of funds even if it's not suspicious.

Regulated centralized exchanges are like banks, they have to follow AML laws. If you held more there than you can afford to lose and you can't explain the source then it's your fault.

Yes, but you can decide for yourself whether you want to enter into a business relationship with this bank
or whether you want to accept changed conditions
or cancel them if you don't like them!

Soon the first lawsuits regarding DSGVO (Data Protection Regulation in EU - General Data Protection Regulation GDPR)
will come when more and more people are supposed to fill in these private data in this bunglingly made PDF
which is (allegedly) sent out by Bittrex via email link.
You can't even check if the document is really authorised by Bittrex!



 

Nope, exchanges can confiscate if you can't explain the source. AML applies to fiat banks too, they have to ask additional questions when you move more than $10k, but they can ask you the origin of the funds even with much smaller amounts. Doesn't matter if you have done the basic KYC or not, AML laws require them to ask more questions.
Most banks ask extra questions even when you withdraw money from exchange, back to your bank and they freeze deposit once you explain it's origins. Doesn't matter how much you withdraw.
There isn't much difference from regular bank and regulated exchange.

Not you keys, not your Bitcoin.

 but they have to give you the chance to withdraw your assets and then end the business relationship and not just confiscate everything; - not even the fiat banks act like that!
even long-time registered customers (with KYC) are affected by the fact that they can no longer get their property!

That is expropriation!

 

Liquidity distribution was launched in October and it's length was evaluated in December, it's all in the announcement. Next evaluation whether it should continue or not will be in April
https://medium.com/obyte/liquidity-mining-8cce2bf3722e

IUSD, IBIT, ITH, IAU have GBYTE as reserve asset. OUSD, OBIT, OETH, OAU are just stablecoins without interest and can be exchanged with stable+ tokens.
TOTAL_CAP has OUSD as reserve asset.

It's proper DeFi, humans don't control it, it's locked in smart-contract (Autonomous Agent) and can be taken back at price, which is based on multidimensional bonding curve formula when redeeming governance token or stable+ token.

It's not only Bittrex who does that. Ever since they added fiat currencies and credit card payments, they have required more KYC because AML regulations require that. For random or bigger payments, they are forced to ask source of founds too.

This is normal thing that happens in regulated exchanges.

I would stay away of KuCoin https://www.coindesk.com/hackers-drain-kucoin-crypto-exchanges-funds

stay away from Bittrex!


(Bittrex global)

https://twitter.com/BittrexGlobal

for about half a year now, they have been blocking more and more long-standing customers and refusing to withdraw values without notice
(Obyte of course also)

https://bitcointalksearch.org/topic/m.55046197

https://bitcointalksearch.org/topic/m.54567100

That's understandable. It's not uncommon that you have to sacrifice some privacy to get a benefit. To minimize the privacy impact, we don't require any other personally identifiable information, even email, so we can't (even if we wanted to) link your trading history to your identity.

There are multiple distributions going on, choose whichever distribution you feel most comfortable:
https://medium.com/obyte/obyte-trading-rewards-c7abf1086518
https://medium.com/obyte/introducing-referral-program-for-bonded-stablecoins-b5455f189c1c
https://medium.com/obyte/liquidity-mining-8cce2bf3722e

"To participate, you will need to create a read-only API key in your Bittrex account and join the rewards program with this key at trade.obyte.org."

With this API you are able to read ALL user's balances and trades, somehow I'm not feeling too comfortable doing that.

Because, centralized exchanges have trading pairs with other blockchains, if the GBYTE loses value on centralized exchanges then stablecoins need more GBYTE as reserve. In order to have more value in Bonded Stablecoins, GBYTE value needs to improve too and that value can come from people buying GBYTE at higher price. Luckily, there is a loop, if stablecoins need more reserve then the one who fixes the peg, gets rewarded, which means they fix the peg by buying GBYTE and if they do it at higher price, it fixes the peg without buying any extra governance tokens or selling stable+ tokens.

oswap.io already has distribution https://liquidity.obyte.org/, but both odex.ooo and oswap.io are decentralized exchanges with Obyte tokens, they don't bring in value from other cryptocurrencies. They let Obyte users switch between different Obyte assets.

Why would centralized exchange list OUSD, OAU, OBIT if they already have better alternatives with higher supply. There is not much point for listing OBIT if they already have BTC. These stablecoins make sense being traded on Obyte at same value they are being traded on centralized exchanges.

There is more point if exchanges list IUSD, IAU or IBIT, but that's bit boring for them too because while there can be some price difference with ostable.org, there will not be much price difference if the stable+ coins are on-peg.

What would make most sense to have listed on centralized exchanges from Bonded Stablecoins are GRD, GRB and GRAU because these are volatile speculative assets, which price depends on speculation of how much stable+ tokens get issued.

We are launching two rewards programs to improve the liquidity of GBYTE:

- we double your profit from long positions -- for traders
- rewards for net buys -- for holders



Join here: https://trade.obyte.org

More background and details in the blog post: https://medium.com/obyte/obyte-trading-rewards-c7abf1086518

Welcome GCMC!

GCMC is a new asset similar to OCMC, but reserve currency is represented by GBYTE instead of OUSD.
GCMC also tracks the total cryptocurrency market capitalization as OCMC, but GCMC is priced in GBYTE.
As a result, you make a profit when any of the GBYTE price or the total market capitalization of the cryptocurrency rises.
When the GBYTE price and the total cryptocurrency market capitalization grow together, you get double the profit!

Let's rock - BUY the dip!

Best Order Provider candidates are those who have some other benefit for having the Obyte network properly functioning, so they don't have to receive any funds from undistributed funds or network fees, but rather their everyday business. Others just want to be early adopters of new technology, latest Order Provider said they do it for education and research purposes.

Witnesses is bad name because other blockchain witnesses do different things. Order Provider is bad name too because the word "order" has many meanings. Sure, there would be disorder if Order Providers would stop posting, but I have a feeling that you have not properly read the Medium blog because they are not Order Keeper, but Order Providers. Another proposed alternative was also call them as Lighthouses, but I guess that would not help to understand them either.

Not sure what you mean that they are not independent, all non-founder Order Providers are independent.

There can be unlimited amount of Order Provider candidates, 12 can be for each transaction, 11 in a transaction must be same as others, majority is 7 out of 12 and there are 7 independent non-founder Order Providers. The 13 you saw is probably Order Providers that some user has different than other because they haven't updated their list.

Thank you for trying to understand, but you fundamentally still don't understand the basics, so I laugh at your attempt to teach about things you don't understand.