[XMR] Monero - A secure, private, untraceable cryptocurrency - page 918.

koolkitty25

newbie

Activity: 28

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Quote from: Cryptogenius on May 18, 2015, 08:16:02 PM

Quote from: americanpegasus on May 18, 2015, 09:40:20 AM

Quote from: Cryptogenius on May 18, 2015, 09:34:41 AM

How does Monero fare in the blocksize debate that's currently going on with Bitcoin? Is a 1mb cap going to be an issue?

No, Monero has no block size limit and a fee that scales with the transaction, so issues like block size and attacking the network with dust are irrelevant. This is one of the core reasons why I have realized Monero truly is "Bitcoin 2".

Sweet, I didn't know that was even possible.

Meow! I think the same. Monero is getting a lot of volume on Polo.

Cryptogenius

newbie

Activity: 6

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Quote from: americanpegasus on May 18, 2015, 09:40:20 AM

Quote from: Cryptogenius on May 18, 2015, 09:34:41 AM

How does Monero fare in the blocksize debate that's currently going on with Bitcoin? Is a 1mb cap going to be an issue?

No, Monero has no block size limit and a fee that scales with the transaction, so issues like block size and attacking the network with dust are irrelevant. This is one of the core reasons why I have realized Monero truly is "Bitcoin 2".

Sweet, I didn't know that was even possible.

LucyLovesCrypto

sr. member

Activity: 414

Merit: 251

Sorry for posting in this thread but XMR holders are smart! I love XMR

However I also have some BBR I want to withdraw from Poloniex. They do not offer a web wallet and I am not sure how long it would take me to set up a paper wallet to withdraw to directly without downloading the GUI first to create one. Can anyone tell me if the official BBR GUI is safe from malware etc?

My malware software cant find a problem but Firefox warns me when I download it. Thanks for any advice!

Johnny Mnemonic

hero member

Activity: 795

Merit: 514

It would actually be great to see some volume shift to new exchanges, which is why I see this as win-win. Poloniex is growing up and Monero is growing up with it. I expect Polo to remain XMR's dominant exchange, but if not, it's still good news.

celestio

sr. member

Activity: 770

Merit: 250

Quote from: oblox on May 18, 2015, 06:45:14 PM

Quote from: Johnny Mnemonic on May 18, 2015, 06:35:47 PM

I really don't see much trade volume leaving Poloniex. I'd guess the majority of its users can still trade comfortably within the "Level 1 Verification" requirements and not have to give away any meaningful information.

However, the introduction of margin trading will most likely be a positive thing for XMR. We're also getting closer to seeing a USD/XMR trading pair.

Maybe smaller accounts will be fine but then there goes the liquidity and support from the larger holders moving elsewhere. It's a possibility nonetheless. No one knows how it will affect the markets in the next couple of days. All we have to go on right now is the 35k dumped thus far and knowing that people have until the 20th to get their coins off. Hard to really get a gauge on what the order books would look like if you lose the largest players providing the majority of liquidity.

It my view it might have the opposite effect. Large holders want to be safe in their dealing and activities, and KYC is safer than a regular crypto exchange without it.

Large holders would probably stay and the same for small holders, but the "medium" guys or the ones smack dab in the middle might leave(Since the max withdrawal limit is $2k per day with the basic identity info).

kazuki49

sr. member

Activity: 350

Merit: 250

Quote from: Anon136 on May 18, 2015, 06:54:56 PM

I love how these are like the only terms and conditions in the history of the world that people are actually reading. Cheesy

Everything about Monero is being hyper scrutinized, except our transactions Cheesy

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: oblox on May 18, 2015, 06:45:14 PM

Quote from: Johnny Mnemonic on May 18, 2015, 06:35:47 PM

I really don't see much trade volume leaving Poloniex. I'd guess the majority of its users can still trade comfortably within the "Level 1 Verification" requirements and not have to give away any meaningful information.

However, the introduction of margin trading will most likely be a positive thing for XMR. We're also getting closer to seeing a USD/XMR trading pair.

Maybe smaller accounts will be fine but then there goes the liquidity and support from the larger holders moving elsewhere. It's a possibility nonetheless. No one knows how it will affect the markets in the next couple of days. All we have to go on right now is the 35k dumped thus far and knowing that people have until the 20th to get their coins off. Hard to really get a gauge on what the order books would look like if you lose the largest players providing the majority of liquidity.

If there is demand for liquidity then compliant suppliers will arrive to serve that demand.

However, it is possible that trading shifts to other exchanges.

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: xa4 on May 18, 2015, 06:33:22 PM

Quote from: celestio on May 18, 2015, 06:25:39 PM

Quote from: ?? on ??

Quote

causes beyond its reasonable control, including but not limited to acts of God

LOL

Is that in the terms and conditions?

yes,

under 27. FORCE MAJEURE

I love how these are like the only terms and conditions in the history of the world that people are actually reading. Cheesy

oblox

legendary

Activity: 1442

Merit: 1018

Quote from: Johnny Mnemonic on May 18, 2015, 06:35:47 PM

I really don't see much trade volume leaving Poloniex. I'd guess the majority of its users can still trade comfortably within the "Level 1 Verification" requirements and not have to give away any meaningful information.

However, the introduction of margin trading will most likely be a positive thing for XMR. We're also getting closer to seeing a USD/XMR trading pair.

Maybe smaller accounts will be fine but then there goes the liquidity and support from the larger holders moving elsewhere. It's a possibility nonetheless. No one knows how it will affect the markets in the next couple of days. All we have to go on right now is the 35k dumped thus far and knowing that people have until the 20th to get their coins off. Hard to really get a gauge on what the order books would look like if you lose the largest players providing the majority of liquidity.

celestio

sr. member

Activity: 770

Merit: 250

Is Poloniex going to open fiat markets?

Johnny Mnemonic

hero member

Activity: 795

Merit: 514

I really don't see much trade volume leaving Poloniex. I'd guess the majority of its users can still trade comfortably within the "Level 1 Verification" requirements and not have to give away any meaningful information.

However, the introduction of margin trading will most likely be a positive thing for XMR. We're also getting closer to seeing a USD/XMR trading pair.

xa4

member

Activity: 71

Merit: 10

Quote from: celestio on May 18, 2015, 06:25:39 PM

Quote from: ?? on ??

Quote

causes beyond its reasonable control, including but not limited to acts of God

LOL

Is that in the terms and conditions?

yes,

under 27. FORCE MAJEURE

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: jwinterm on May 18, 2015, 09:42:06 AM

Quote from: Cryptogenius on May 18, 2015, 09:34:41 AM

How does Monero fare in the blocksize debate that's currently going on with Bitcoin? Is a 1mb cap going to be an issue?

There is no hard blocksize cap in Monero and other Cryptonotes, so this shouldn't be an issue. Cryptonotes implement a coinbase reward penalty if the blocksize is larger than the median of the last 'x' number of blocks, but there's no hard limit.

Monero stands to gain considerably from any disruption of Bitcoin over the 1MB limit.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: celestio on May 18, 2015, 06:25:39 PM

Quote from: ?? on ??

Quote

causes beyond its reasonable control, including but not limited to acts of God

LOL

Is that in the terms and conditions?

It is a trade term, commonly used in the T&Cs to represent a certain list of calamities.

rpietila

donator

Activity: 1722

Merit: 1036

It seems that the new requirements they ask are very mild for those who were anyway intending to be compliant. For those who did not intend such, it was ridiculous to assume that their funds would be safe in any exchange, especially one based in the U.S. So, objectively this was fully expected, and is implemented reasonably.

BUT: The 2 days withdrawal period is a joke, and there will never be enough coins in the hotwallet, all the people trying to withdraw will experience a nonperformance, will need to file a ticket, the 2 days period will end, then endless hours will be consumed in sorting out the tickets and whether the KYC will be required regarding them or not, causing very much bad feelings.

Perhaps the listing of CKG in Poloniex will keep the XMR trading there alive

celestio

sr. member

Activity: 770

Merit: 250

Quote from: ?? on ??

Quote

causes beyond its reasonable control, including but not limited to acts of God

LOL

Is that in the terms and conditions?

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: celestio on May 18, 2015, 06:03:50 PM

Oh it's not that bad. All I had to do was put in a phone #, it could be temporary, and address and you can withdraw.

i just dont like all that talk about crosschecking us against databases. gives me the creeps. ill just use shapeshift.io if i want to buy more in future.

celestio

sr. member

Activity: 770

Merit: 250

Oh it's not that bad. All I had to do was put in a phone #, it could be temporary, and address and you can withdraw.

americanpegasus

hero member

Activity: 770

Merit: 504

Quote from: oblox on May 18, 2015, 05:46:17 PM

I think the biggest takeaway from all this is now to find a new home for XMR trading. There is the possibility of moving to Bittrex but again, they are US-based and it will most likely be a situation where it is only a matter of time before similar things happen there. There is a very real possibility that there won't be much of a market until a new exchange is established. I'm sure there will be a substantial amount of users looking at withdrawaling what coins they have there (that applies to all alts). For what it's worth, there's still about 80k worth of buy support above .002 so for those that don't want to chance potential illiquidity, there's the ability to get back into BTC. People ultimately need to decide for themselves how comfortable they feel in the interim if there isn't much liquidity post-KYC exodus. And I'm merely speculating that will be the case given the background that XMR-users are coming from.

Mmmm.... Blood in the streets....

kazuki49

sr. member

Activity: 350

Merit: 250

Quote from: oblox on May 18, 2015, 05:46:17 PM

I think the biggest takeaway from all this is now to find a new home for XMR trading. There is the possibility of moving to Bittrex but again, they are US-based and it will most likely be a situation where it is only a matter of time before similar things happen there. There is a very real possibility that there won't be much of a market until a new exchange is established. I'm sure there will be a substantial amount of users looking at withdrawaling what coins they have there.

I'm trading (actually just buying) on bittrex for a while only because of this: https://bittrex.zendesk.com/hc/en-us/articles/204310644

Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 918. (Read 4670673 times)