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Poloinex = Problem

Discussion in 'Exchanges' started by WyteMtr, Aug 20, 2016.

  1. WyteMtr

    WyteMtr New Member

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    I'm actually losing sleep over this, so I will give you guys a little homework.

    Poloniex
    XRP
    Dash

    Your thoughts on this exchange, relationship between XRP and Dash, 24 hour volumes, and why in god's earth is something like this happening. I have a couple pretty good theories, but I want to see if anyone else's conclusions are anywhere close to mine. Sorry for being vague, but I'm going to puke my guts out over this. Any and all comments are welcome. Discuss.

    WyteMtr
     
  2. WyteMtr

    WyteMtr New Member

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    Oops, I replace XRP w XMR.

    WyteMtr
     
  3. WyteMtr

    WyteMtr New Member

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    My sincerest apologies to the Ripple community for that blunder.

    WyteMtr
     
  4. tungfa

    tungfa Administrator
    Dash Core Team Foundation Member Masternode Owner/Operator Moderator

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    i do not understand what you are talking about
    can you clarify
    (before you puke your guys out :rolleyes:)
     
  5. raganius

    raganius cryptoPag.com
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    My opinion on exchanges, not only Poloniex: The basic premise is that the moment you send your coins to any exchange those are no longer your coins, you only have IOUs from that exchange, you can trade with those IOUs on the exchange platform, and pray that the exchange will honour those IOUs and pay you back whenever you try to "withdraw" real cryptocoins.

    From that knowledge, it is easy to understand that we do not know what is going on behind the scenes on exchanges... we have to (or, we have no other option but, need to) trust that they are honest. That's all.

    So, in reality, they will can do anything, don't be surprised... just play accordingly ;)
     
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  6. fible1

    fible1 Well-known Member
    Dash Core Team Masternode Owner/Operator

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    I think he is asking about the XMR pump and the relationship between XMR trading and Dash trading.

    Pablo.
     
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  7. rustycase

    rustycase Active Member

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    Indicators I have viewed lead me to believe most DASH is traded on the Poloniex exchange.

    Same sources declare almost ALL Monero is traded on Poloniex.

    Most recently, Monero (XMR) trading volume has exceeded that of DASH.
    I would attribute that to the recent PR campaign by Monero devs viewed favorably by devoted followers in the Crypto world.

    The Ethereum battle with Ethereum Classic has generated a great deal of traffic and is a significant black mark on the Crypto world.

    I do feel dragon miners are leaving Bitcoin and shall begin mining other coins, causing or influencing a significant drop in the market value of BTC.

    I like Poloniex quite a bit, and am fully aware the chat feature is trash talking, with a more recent influx of gamer kids, mixing it up with the drunkards.
    No user is required to participate in that optional function of Poloniex.

    It does seem that some coins are afforded more favorable treatment than others upon Poloniex, yet I am not inordinately concerned, it is their business, and they run it as they wish.

    Hosting USDT trading for certain altcoins is an anomaly, since Poloniex will not transfer fiat via their exchange.

    Apparently BitFinEx offers superior trading tools and charts, yet I have read there are disadvantages in the fee structure for those outside China.

    IMO, Poloniex offers a wider scope of potential than other exchanges I have seen.

    YMMV
    rc
     
  8. Comodore

    Comodore Member

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    As stated by myself many times before - there is very high chance that there are some monero paid schills. Scamcoins should not be our wories anyway.

    Let's make cryptocurrency world big, create more added value and win new markets.
     
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  9. raganius

    raganius cryptoPag.com
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    Agreed, I want distance from XMR and feel sorry for those who fall into their traps :/
     
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  10. WyteMtr

    WyteMtr New Member

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    I was told about what was going to happen prior to........what happened. I refuse to sell or exchange my dash, because I feel, Evan and his team are doing good things. They aren't out to centralize the currency, they are transparent, they aren't manipulating markets. Could I have exchanged my Dash for XMR for pennies on the dollar? Was I told indirectly this was going to happen? Did I want to be wrong?

    I honestly wanted to believe the pieces I was putting together didn't fit, but they did. I'm probably an idiot for not exchanging, knowing what I did at the time. But this isn't about making quick money based on tips and rumors, developers who remain "Anonymous", and an exchange that is making ridiculous amounts of money, exploiting graphs and coins that......who even knows, are capable of doing what they claim.

    I dunno, what can ya do I guess.

    WyteMtr
     
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  11. WyteMtr

    WyteMtr New Member

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    I took it as a direct, engineered, assault against a coin that I strongly believe in.

    It's basically what it boils down to.

    WyteMtr
     
  12. rustycase

    rustycase Active Member

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    It is probable any exchange has an agenda to promote some particular altcoin...
    I see little evidence of that at the poloniex exchange, though there is some, which is obvious in the Ethereum debacle.

    Presently, Poloniex has advised users it shall soon drop a number of coins from it's roster. I can understand this... they may not generate a satisfactory level of revenue for the venture.

    I am grateful Poloniex has endeavored to offer trading in a wide variety of cryptocoins !
    Only in such an environment shall DASH prove it's value in comparison with alternatives.

    WyteMtr, I am interested in an 'Idiots Guide to Margin Trading Cryptocoins and Lending'.
    Is there such advice/mentoring available on the web that you know of ?

    Tnx
    rc
     
  13. WyteMtr

    WyteMtr New Member

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    I'm not the one to ask regarding things like margin trading. I'm no financial advisor, nor do I have a degree or credentials to be advising any of the above you have requested. I wish I could help you, but maybe there are other members who are more qualified than myself that can be of more assistance.

    Good luck.

    WyteMtr
     
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  14. rustycase

    rustycase Active Member

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    Tnx !
    So much to learn ! Always looking for advice, even a link that could be promising ...
    Best
    rc
     
  15. WyteMtr

    WyteMtr New Member

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    1. POORLY develop and mimic an already established top 10 market cap coin.

    2. ????

    3. PROFIT!!!!!!

    WyteMtr
     
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  16. rustycase

    rustycase Active Member

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    Tnx WhyteMtr,

    Yes. I have learned about market cap, and have further questions, and I do hope for profit to invest further in DASH !
    Volatility is a concern, when gambling on altcoins...

    Presently, I am considering possible advantage of hedging my bets on other coins by offering up a portion of what I may hold in that coin for loan, at some percentage rate...
    As always, Thanks for your reply !
    :)
    rc
     
    #16 rustycase, Aug 27, 2016
    Last edited: Aug 27, 2016
  17. WyteMtr

    WyteMtr New Member

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    Rusty, I wasn't trollin' ya. That wasn't even a shot at you. I can't throw one or two links that can help you understand, or not, what I have or haven't learned, since I mined my first share of Drkcoin.

    WyteMtr
     
  18. slamdunk

    slamdunk Member

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    I certainly think Exchange pumping occurs and that maybe it occurred in this instance with XMR.

    But, I will put forth another scenario...the hybrid pump.

    By now, the XMR rise has also been attributed to the DNMs. So, possibly, some DNM people and some Exchange people drove this. Possibly, they benefited from FOMO. Most definitely, XMR makes alot of sense for the DNMs. So, for a variety of reasons (some valid) XMR rose.

    DNMs/XMR represent a niche though. It's a narrow application of cryptocurrency relative to what DASH is doing.

    DASH is creating an ecosystem. I think the ecosystem will become much larger. I think DASH is the hardest working cryptocurrency out there.

    My 2 cents...
     
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  19. rustycase

    rustycase Active Member

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    It's all good !
    :)
    rc
     
  20. Aravind

    Aravind New Member

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    hi we launched new trading platform dc-ex.com
     
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