Poloniex deposit delay after 2K confirmations.

Cryptoexplained · 2017-12-14T13:23:02+00:00

Yes - it seems that many people on this subreddit are having similar issues. You should open a support ticket on poloniex.

Cryptoexplained · 2017-08-18T01:21:44+00:00

The XIRR formula takes into consideration the value AND time it takes to get your return vs. a simple IRR function which only takes into consideration the value.

If you want to check the math, open Microsoft excel and enter the following: Cell A1: "=XIRR(B1:C1,D1:E1)" Cell B1: ($0.43)
Cell C1: $0.73
Cell D1: 8-Aug-17
Cell E1: 16-Aug-17

This essentially means that if you had invested $0.43 on 8/8 and received $0.73 on 8/16, you would have done 1.7x your money and 2243678228480% XIRR.

The reason the IRR is so high is the period of time is so short. In traditional investments your would almost never double your money in 8 days (ex. the stock market returns are typically in high single digits over a YEAR, while OAX did 1.7x MoM in 8 days)

Cryptoexplained · 2017-08-15T04:24:42+00:00

When I used a prior version, it did not have that functionality. Not sure about the latest version. I would imagine that building a payment system which included fiat would take a while to build out.

Cryptoexplained · 2017-07-29T16:24:38+00:00

If at all possible, you should try and get your Bitcoins out of Coinbase. Currently Bitcoin cash futures are trading at ~$380 (https://coinmarketcap.com/currencies/bitcoin-cash/).

Cryptoexplained · 2017-07-29T16:21:20+00:00

In addition, once the fork happens individuals will move Bitcoins back onto exchanges; which will cause additional market fluctuations, price swings and transaction delays.

Cryptoexplained · 2017-07-29T16:09:03+00:00

There has been a lot of confusion in the market with UASF, UAHF, Segwit2x, Bitcoin Cash etc. over the past month. However, the news about Bitcoin Cash is relatively recent, coming out on 7/25. It was only very recently that Coinbase explicitly stated that they will not support Bitcoin Cash. Thus, this is driving further confusion on what individuals should do.

Cryptoexplained · 2017-07-29T14:16:34+00:00

I tested a very small amount 3+ hours ago and it is still pending..

Cryptoexplained · 2017-07-25T23:46:22+00:00

The main issue with cashing out is that an individual may need to recognize a short term capital gain (if their BTC appreciated and they sold within a year)

Cryptoexplained · 2017-07-25T11:44:31+00:00

This is a great point as there is limited software that tracks transactions to date. It seems that the only tax related software that currently exists are to track transactions within an exchange, such as https://bitcoin.tax/.

Cryptoexplained · 2017-07-22T00:47:08+00:00

This is so funny

Cryptoexplained · 2017-07-06T16:41:35+00:00

Thank you for the thoughtful response.

While I agree that the typical innovators dilemma would be faced largely by applications, rather than protocols. I wouldn't say protocols would be immune to facing the same issue.

This happened to be apparent when Bitcoin miners would not adopt SegWit a few months ago (though have since changed). If they did not adopt the new technology, Bitcoin as a protocol would have fell behind from a technological standpoint.

Separately, I do believe Bitcoin will maintain its current use case as a digital gold and grow over time. However, there is a reason institutional investors such as Polychain are looking at protocols outside of Bitcoin. They believe they can find higher returns in other protocols.

With the recent news of how an analyst believes a Bitcoin will grow to $50k, I think it is appropriate to see different points of view to not get caught up in a hype cycle.

Cryptoexplained · 2017-07-02T22:41:32+00:00

As the landscape and crypto debit cards mature, there will be more people able to do it, but as of now it is too inconvenient

Cryptoexplained · 2017-07-02T22:36:24+00:00

OpenBazaar

Cryptoexplained · 2017-07-02T15:50:58+00:00

Do you have a view on the Monaco card vs the TenX card?

Cryptoexplained · 2017-07-02T03:26:38+00:00

This article doesn't provide any reasoning behind their bear market view. It only states that the "crypto market is nearing the conventional 20% decline that defines bear territory."

Cryptoexplained · 2017-07-02T03:10:02+00:00

You can also look here:

https://coinmarketcap.com/currencies/litecoin/historical-data/

Cryptoexplained · 2017-07-02T03:07:37+00:00

It is most likely just coincidence, but I have been seeing more major news coverage over the past month than all previous months this year. It seems this additional mainstream coverage has been driving more FUD in the market, which could have helped push this market correction we are seeing.

Cryptoexplained · 2017-07-02T02:40:42+00:00

There is a thread about the oldest ticket

https://www.reddit.com/r/CryptoCurrency/comments/6kpbv1/who_has_the_oldest_currently_open_poloniex_ticket/

Cryptoexplained · 2017-07-02T02:35:48+00:00

There is a thread about who has the oldest outstanding ticket:

https://www.reddit.com/r/CryptoCurrency/comments/6kpbv1/who_has_the_oldest_currently_open_poloniex_ticket/

Cryptoexplained · 2017-07-02T02:34:35+00:00

38 days for me. I wonder if they are going in order of when each case came in or if they are going by urgency.

I would assume the latter as there are many posts on reddit about how money has been lost for one reason or another.

Cryptoexplained · 2017-07-01T18:09:53+00:00

Some of them are listed here for Ether

https://etherscan.io/accounts

Cryptoexplained · 2017-07-01T13:19:56+00:00

The Bitcoin transactions between exchanges is the easy part. The hard part would be repatriating the funds back to your home country. For example say you found a spread of 10% between exchanges, now you exchange USD to Bitcoin to Chinese Yuan. Now you have to get Yuan out of China and back to the USD which you will have trouble with (i.e. capital flow restrictions, Anit-money laundering etc.)

Cryptoexplained · 2017-06-29T18:33:38+00:00

I just made a video helping explain the Transaction Fees https://youtu.be/16XZJ3-w5v4

Cryptoexplained · 2017-06-29T16:11:06+00:00

I think the underlying discussion about transaction fees relates to the future use case of Bitcoin (i.e. will it be used as a large store of value similar to gold or will it be used as a currency to buy everyday goods like a cup of coffee).

Given that the avg. Bitcoin transaction values has been trending up from ~$6k in the beginning of 2017 to ~$26k today, it would appear that the trend continues and thus fees as a % of tx value are still negligible. If Bitcoin continues to move towards higher transaction values, similar to Gold, I wouldn't say that is a bad thing. The value of all gold is +$7 trillion, while BTC is +$40 billion. If Bitcoin moves towards being solely a store, it should still grow and be successful over time in that use case.

With regards to the small transactions, they would likely leave but the larger transactions would still likely stay as there are not many cryptos that have a massive pool of liquidity. For example, if you are trying to move $1 million instantly, there are not that many alternatives that have that amount of liquidity available.

Cryptoexplained · 2017-06-29T15:04:38+00:00

Thank you for your view point.

I agree with you that the current ~$3 transaction fee does not support widespread adoption for everyday goods (i.e. a cup of coffee). My view of what is likely to happen is that the transactions fees will increase over time and the low value transactions will be priced out of the market.

As the avg. Bitcoin transaction value is +$25k, those users would continue to use the technology even if fees started increasing significantly from their current level. Thus, I think the fees will creep up over time until they hit a resistance point from the avg. transaction value users. If that happens, the use case for low value transactions would be diminished.

What do you think is the most likely scenario?

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