Topic: [XMR] Monero Speculation - page 1888. (Read 3314330 times)

Quote from: wpalczynski on May 26, 2015, 04:05:37 PM

am i the only one that feels that the 25k daily limit on polo may slow down monero's growth?
why should somone bet on 10 dollar monero prices if they wont be able to cash out quick enough. I am sure not the only one that feels uncomfortable with the situation, no?
not that i think it will happen tomorrow, but still.

yes, 25k is a lot, i agree, it's a lot for me too. nevertheless the situation might happen where one wants to withdrawl more and quicker.
same goes for marketmakers and fake wall makers. the market just wont be the same like that...

did you hear anything about another exchange? please feed me with the newest rumours!
a big OTC market maybe would do it too for the moment. should check out the OTC chanell on freenode, never been there.

we have to talk about this. Its sure not the desired situation to have the only liquid xmr market on an exchange where you need to register.

maybe this is not the right place, but the whole topic surely affects price/volume/market sentiment

If the limits are too limiting, bring it up with support. They're flexible given due circumstances.

i allready asked this question. they said to me the limit is the maximum, they said it's not possible to raise it because its part of the law they are following.
in the past, limits could've always been raised, but this was before this all happend..

I'm very curious what law they are following which states you cannot move >25k of your own money after all verifications of identity are in place.

I'm sure if thats the case its all done to protect your "freedom".

Although I agree that 25k is a lot of monero right now it wouldn't be if it went back up to its high of 5 or 6 dollars. This limit would make it hard for people who like to hop in and out of currency unless they keep their crypto on the exchange. I wonder if they will make exceptions.

kazuki49

sr. member

Activity: 350

Merit: 250

am i the only one that feels that the 25k daily limit on polo may slow down monero's growth?
why should somone bet on 10 dollar monero prices if they wont be able to cash out quick enough. I am sure not the only one that feels uncomfortable with the situation, no?
not that i think it will happen tomorrow, but still.

yes, 25k is a lot, i agree, it's a lot for me too. nevertheless the situation might happen where one wants to withdrawl more and quicker.
same goes for marketmakers and fake wall makers. the market just wont be the same like that...

did you hear anything about another exchange? please feed me with the newest rumours!
a big OTC market maybe would do it too for the moment. should check out the OTC chanell on freenode, never been there.

we have to talk about this. Its sure not the desired situation to have the only liquid xmr market on an exchange where you need to register.

maybe this is not the right place, but the whole topic surely affects price/volume/market sentiment

If the limits are too limiting, bring it up with support. They're flexible given due circumstances.

i allready asked this question. they said to me the limit is the maximum, they said it's not possible to raise it because its part of the law they are following.
in the past, limits could've always been raised, but this was before this all happend..

I'm very curious what law they are following which states you cannot move >25k of your own money after all verifications of identity are in place.

I'm sure if thats the case its all done to protect your "freedom".

wpalczynski

legendary

Activity: 1456

Merit: 1000

Quote from: equipoise on May 26, 2015, 07:53:01 AM

am i the only one that feels that the 25k daily limit on polo may slow down monero's growth?
why should somone bet on 10 dollar monero prices if they wont be able to cash out quick enough. I am sure not the only one that feels uncomfortable with the situation, no?
not that i think it will happen tomorrow, but still.

yes, 25k is a lot, i agree, it's a lot for me too. nevertheless the situation might happen where one wants to withdrawl more and quicker.
same goes for marketmakers and fake wall makers. the market just wont be the same like that...

did you hear anything about another exchange? please feed me with the newest rumours!
a big OTC market maybe would do it too for the moment. should check out the OTC chanell on freenode, never been there.

we have to talk about this. Its sure not the desired situation to have the only liquid xmr market on an exchange where you need to register.

maybe this is not the right place, but the whole topic surely affects price/volume/market sentiment

If the limits are too limiting, bring it up with support. They're flexible given due circumstances.

i allready asked this question. they said to me the limit is the maximum, they said it's not possible to raise it because its part of the law they are following.
in the past, limits could've always been raised, but this was before this all happend..

I'm very curious what law they are following which states you cannot move >25k of your own money after all verifications of identity are in place.

binaryFate

legendary

Activity: 1512

Merit: 1012

Still wild and free

Quote from: binaryFate on May 26, 2015, 07:18:54 AM

Quote from: equipoise on May 26, 2015, 07:17:19 AM

Quote from: GingerAle on May 26, 2015, 06:40:28 AM

Quote from: shmadz on May 26, 2015, 04:07:03 AM

Quote from: dEBRUYNE on May 25, 2015, 12:13:39 PM

Quote from: jwinterm on May 25, 2015, 11:14:34 AM

Quote from: medusa13 on May 25, 2015, 11:04:31 AM

i tried it, worked well.
unfortunately they send with mixing 0, rest worked fine for me. sometimes the price they offer is not so good, sometimes its better than on the exchange.

Hmm, I haven't tried it myself, but I could've sworn that I read Shapeshift uses mixin 3 now. I thought it was on reddit, but not seeing it now. Did you try within the last week or two, or longer ago than that?

They set it back to zero because of some problems with dust outputs or something. I don't know who received that message, but if you read this, please come and elaborate more on this matter (or perhaps shapeshift itself could elaborate?).

Just fyi,
I just tried shapeshift, (I just can't say no to +500 xmr/btc) - the transaction was done with mixin = 1

Looks completely obfuscated to me, but I'm really only starting to experiment with Monero transactions.

I just looked through my IRC log, and I'm not entirely sure, but it looks like the lowered mixins have to do with too many support tickets cropping up because the wallet software gets messed up with random huge transactions due to "not enough outputs to mix". So, my interpretation is that for personal use, you could fix this kind of error just by retrying with different send amounts etc, but with an automated system (like shapeshift) it doesn't work as well.

In general, I think this phenomenon is on the to do list, wherein the codebase will be modified such that any output can be utilized for a ring signature, as opposed to just unspent outputs. This has the effect of increasing the total number of available outputs for inclusion in the ring signature. This was in one of our podcasts somewhere.

A workaround for shapeshift could be: 1) receive/send with two digits XMR precision + 2) regularly/automatically consolidating amounts between two hot wallets. 2) could help poloniex with the same issue, but I'm not sure they'll want to enforce 1) (one more mining directly to polo problem).

You can't stricly enforce 1), people can make mistakes, or they can decide to "bloat" your wallet maliciously.

They could round down to the second digit and then also subtract 0.01 or 0.02 XMR (wallet consolidation fee) from each deposit. This way they'll be able to keep the withdraw fee the same or even lower it while increasing the mixin to 3-10 for withdraws. Wallet consolidation fee may also discourage mining directly to the exchange. Whoever decide to ""bloat" your wallet maliciously" would pay the fee to consolidate it again. Could they possibly (legally?) enforce that?

It's just offsetting the cumulative worst-case cost to *all* users. I suppose it might be acceptable for an exchange, maybe less for shapeshift or xmr.to; I can speak at least for xmr.to, this is not an experience we'd like to offer to users.

vokain

legendary

Activity: 1834

Merit: 1019

Quote from: medusa13 on May 26, 2015, 12:48:59 PM

yeah maybe i just dramatize. Cheesy

with current xmr prices i am not affected too, but we all know how fast things can turn around here.

i just want to say, longterm, we need at least one liquid alternate market without regulation as long as possible
it does not need to be the leading exchange, but at least the option should exist.

if enough people raise their voice for it, it might happen

Indeed.

Try here too: https://bitcointalksearch.org/topic/mercury-fully-trustless-cryptocurrency-exchange-looking-for-testers-946174

I don't know how much the CN code base may or may not be compatible, but seems worth exploring:

"Many more currencies and crypto-assets will be added in the future if they are in high demand by Mercury users. Rather than supporting all altcoins, I strongly believe in only supporting cryptocurrencies that provide real value, especially innovative "Bitcoin 2.0" technologies. Any crypto-asset can be tradable on Mercury, as long as it at least supports transaction scripts like Bitcoin's."

medusa13

sr. member

Activity: 453

Merit: 500

hello world

yeah maybe i just dramatize. Cheesy

with current xmr prices i am not affected too, but we all know how fast things can turn around here.

i just want to say, longterm, we need at least one liquid alternate market without regulation as long as possible
it does not need to be the leading exchange, but at least the option should exist.

if enough people raise their voice for it, it might happen

dEBRUYNE

legendary

Activity: 2268

Merit: 1141

am i the only one that feels that the 25k daily limit on polo may slow down monero's growth?
why should somone bet on 10 dollar monero prices if they wont be able to cash out quick enough. I am sure not the only one that feels uncomfortable with the situation, no?
not that i think it will happen tomorrow, but still.

yes, 25k is a lot, i agree, it's a lot for me too. nevertheless the situation might happen where one wants to withdrawl more and quicker.
same goes for marketmakers and fake wall makers. the market just wont be the same like that...

did you hear anything about another exchange? please feed me with the newest rumours!
a big OTC market maybe would do it too for the moment. should check out the OTC chanell on freenode, never been there.

we have to talk about this. Its sure not the desired situation to have the only liquid xmr market on an exchange where you need to register.

maybe this is not the right place, but the whole topic surely affects price/volume/market sentiment

If the limits are too limiting, bring it up with support. They're flexible given due circumstances.

i allready asked this question. they said to me the limit is the maximum, they said it's not possible to raise it because its part of the law they are following.
in the past, limits could've always been raised, but this was before this all happend..

It's 25k per 24 hours, so within 25 hours you can get 50k USD out, which is approximately 110k of Monero given current prices. In my opinion this is sufficient, since it was estimated by rpietila that there are only around 8 holders with over 100k (reference -> https://bitcointalksearch.org/topic/m.11031502). Furthermore, by the time Monero is worth a lot more (e.g. 10$ like you stated) there will probably be better options to unlimitedly cash out. I don't think we should really worry about this, it could also be an advantage that we have a legitimate exchange (or atleast one that complies) with the biggest volume. Don't forget that Cryptsy and Bittrex are also in the USA, so they probably have to implement these kind of limitations and rules as well (I don't know this for sure though, I don't know the precise US law regarding this and also don't have a reliable source).

medusa13

sr. member

Activity: 453

Merit: 500

hello world

am i the only one that feels that the 25k daily limit on polo may slow down monero's growth?
why should somone bet on 10 dollar monero prices if they wont be able to cash out quick enough. I am sure not the only one that feels uncomfortable with the situation, no?
not that i think it will happen tomorrow, but still.

yes, 25k is a lot, i agree, it's a lot for me too. nevertheless the situation might happen where one wants to withdrawl more and quicker.
same goes for marketmakers and fake wall makers. the market just wont be the same like that...

did you hear anything about another exchange? please feed me with the newest rumours!
a big OTC market maybe would do it too for the moment. should check out the OTC chanell on freenode, never been there.

we have to talk about this. Its sure not the desired situation to have the only liquid xmr market on an exchange where you need to register.

maybe this is not the right place, but the whole topic surely affects price/volume/market sentiment

If the limits are too limiting, bring it up with support. They're flexible given due circumstances.

i allready asked this question. they said to me the limit is the maximum, they said it's not possible to raise it because its part of the law they are following.
in the past, limits could've always been raised, but this was before this all happend..

vokain

legendary

Activity: 1834

Merit: 1019