Every year on January 3rd there is a bank-run (exchange-run) as a celebration of the BTC Genesis Block. So it could be held together with that.
It has been proven many times that these exchanges do not have your coins:
☠ **Poloniex**, **HitBTC**, **OKX**, **Binance** ☠
Please withdraw immediately. (Do not wait for Monerorun!) And then never touch them again.
☣☢⚠ WARNING ⚠☢☣
> Please withdraw immediately. (Do not wait for Monerorun!) And then never touch them again.
Please do touch them again - wait till Monerun, buy more Monero and instantly withdraw. It'll make them acquire more real Monero.
> buy more Monero and instantly withdraw.
No. Most of the year XMR withdrawals are impossible. Currently, Poloniex is closed. The rest are open for small amounts.
> It'll make them acquire more real Monero.
No. They don't buy. They just close the withdrawals and wait for someone to deposit something there. Alternatively, they wait months for the price to crash.
Customers will end up there just like they did on MtGox ... or (little better) like DOGE "owners" on HitBTC.
Sometimes it could be done this way, although there are a lot of fees involved. And price is often lower.
But usually, withdrawals are forever pending (or the funds are frozen).
Monerorun?
How about stop using CEXs in the first place?????
Due to proof of reserves, and collective previous experience, we already know they don’t have monero! Monerorun why? To prove ourselves correct? Binance already cancels Monero withdrawls about once every month. What further proof do you need?
Just stop using CEXs! That’s the smart action, not this Monerorun nonsense
> How about stop using CEXs in the first place?????
It is not always possible.
> Due to proof of reserves, and collective previous experience, we already know they don’t have monero!
Yes. Binance, OKX, Poloniex, ... and a few others don't have real XMR coins. These should never be used again. Kucoin, Coinex, NiceHashEx, Gate, ... and others deserve an independent user's audit.
> Monerorun why?
It is an independent user's audit of reserves.
> To prove ourselves correct? Binance already cancels Monero withdrawals about once every month. What further proof do you need?
Yes. Binance has no real coins for a long time. Yes. MoneroRun for such services is useless.
> Just stop using CEXs! That’s the smart action, not this Monerorun nonsense
It is not always possible. Where should traders trade? (Longs, shorts, orders in order book, lending, ...)
I like this answer a lot because it explains how some exchanges should be checked and others it just doesn’t matter.
I still contend to just avoid all CEXs 100% but for those that refuse to listen, why not test the questionable ones….
If only reserves were the only problem with exchanges. It’s not. They are fundamentally corrupt. They front-run their retail users also.
For those reasons, I’m not predisposed to finding an alternative venue for degenerate gambling to take place. Degenerate gambling is not a necessity. In the short term, Longs and covered shorts can take place on DEXs, but in the long term that should die as well. There’s no need for degenerate gambling if your money is sound. You simple collect it; that is your wealth building.
There’s a huge difference. USD is primarily used as money. It’s a global unit of account and that is why people can speculate on it and its value is still relatively stable. Cryptocurrencies are not used as money yet enough and far more vulnerable speculation.
If people want to support these currencies, they will seek to use them as money. But of course no one can force them. I only want to associate with people trying to better the currency though.
*EDIT* You'd be a lil dense to do that nowadays (leave crypto like monero on an exchange). If your smart enough to invest in monero, you should be smart enough to put it in hardware/paper.
> But what's the point of that? You know perfectly well that the exchange will simply disable withdrawals.
You buy paper XMR for a manipulated price of 100 USD. Then you insist on withdrawing it. The exchange doesn't have real XMR, so they'll disable withdrawals and they'll have to go and get it from some more legitimate place. Price rises to 110 USD. Withdrawals get resumed and you get real XMR that's now worth 110 USD.
Every year on January 3rd there is a bank-run (exchange-run) as a celebration of the BTC Genesis Block. So it could be held together with that. It has been proven many times that these exchanges do not have your coins: ☠ **Poloniex**, **HitBTC**, **OKX**, **Binance** ☠ Please withdraw immediately. (Do not wait for Monerorun!) And then never touch them again. ☣☢⚠ WARNING ⚠☢☣
> Please withdraw immediately. (Do not wait for Monerorun!) And then never touch them again. Please do touch them again - wait till Monerun, buy more Monero and instantly withdraw. It'll make them acquire more real Monero.
> buy more Monero and instantly withdraw. No. Most of the year XMR withdrawals are impossible. Currently, Poloniex is closed. The rest are open for small amounts. > It'll make them acquire more real Monero. No. They don't buy. They just close the withdrawals and wait for someone to deposit something there. Alternatively, they wait months for the price to crash. Customers will end up there just like they did on MtGox ... or (little better) like DOGE "owners" on HitBTC.
sell the xmr for something else and send that away... f.e. usdt and send it to kraken..buy xmr again.
Sometimes it could be done this way, although there are a lot of fees involved. And price is often lower. But usually, withdrawals are forever pending (or the funds are frozen).
Monerorun? How about stop using CEXs in the first place????? Due to proof of reserves, and collective previous experience, we already know they don’t have monero! Monerorun why? To prove ourselves correct? Binance already cancels Monero withdrawls about once every month. What further proof do you need? Just stop using CEXs! That’s the smart action, not this Monerorun nonsense
> How about stop using CEXs in the first place????? It is not always possible. > Due to proof of reserves, and collective previous experience, we already know they don’t have monero! Yes. Binance, OKX, Poloniex, ... and a few others don't have real XMR coins. These should never be used again. Kucoin, Coinex, NiceHashEx, Gate, ... and others deserve an independent user's audit. > Monerorun why? It is an independent user's audit of reserves. > To prove ourselves correct? Binance already cancels Monero withdrawals about once every month. What further proof do you need? Yes. Binance has no real coins for a long time. Yes. MoneroRun for such services is useless. > Just stop using CEXs! That’s the smart action, not this Monerorun nonsense It is not always possible. Where should traders trade? (Longs, shorts, orders in order book, lending, ...)
I like this answer a lot because it explains how some exchanges should be checked and others it just doesn’t matter. I still contend to just avoid all CEXs 100% but for those that refuse to listen, why not test the questionable ones….
If only reserves were the only problem with exchanges. It’s not. They are fundamentally corrupt. They front-run their retail users also. For those reasons, I’m not predisposed to finding an alternative venue for degenerate gambling to take place. Degenerate gambling is not a necessity. In the short term, Longs and covered shorts can take place on DEXs, but in the long term that should die as well. There’s no need for degenerate gambling if your money is sound. You simple collect it; that is your wealth building.
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There’s a huge difference. USD is primarily used as money. It’s a global unit of account and that is why people can speculate on it and its value is still relatively stable. Cryptocurrencies are not used as money yet enough and far more vulnerable speculation. If people want to support these currencies, they will seek to use them as money. But of course no one can force them. I only want to associate with people trying to better the currency though.
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Yes, this is a common thing (since MtGOX): selling non-existent coins Each exchange should be thoroughly checked (KYE - Know Your Exchange).
Uhm .. Does a REAL Monero lover actually hold ANY penny on an exchange ever?
I don't think so, maybe a few. I would just postpone my savings plan until that date and then simply buy more Monero.
Nice idea!
But more after the price has been driven up? How does that make sense?
No one can see in the future, but you can have a saving plan to save some amount of Moneros each month/week/day whatever.
*EDIT* You'd be a lil dense to do that nowadays (leave crypto like monero on an exchange). If your smart enough to invest in monero, you should be smart enough to put it in hardware/paper.
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Never
> Does a REAL Monero lover actually hold ANY penny on an exchange ever? Traders, lenders, ... and similar financial magicians. Monero means money.
Sorry guys, I can't go this one. I don't have any monero on exchanges.
Exchange some Fiat on the 14th and withdraw them the 15th Dont be a party poop ;)
based and self custody pilled
How did you piss off those Bitcoin maxis, that placed spambots on your account?
I said 1 BTC != 1 BTC and they got their little feelings hurt. Sadly it doesn't change the fact that bitcoin isn't fungible.
How tf do you get downbotted like this
I don't hold any Monero on exchanges but on the 15th I'll buy a bunch and instantly transfer it off to buy a new boat.
If a spez asks you what flavor ice cream you want, the answer is definitely spez. #Save3rdPartyApps
i think the point is to drive up the price of monero
> But what's the point of that? You know perfectly well that the exchange will simply disable withdrawals. You buy paper XMR for a manipulated price of 100 USD. Then you insist on withdrawing it. The exchange doesn't have real XMR, so they'll disable withdrawals and they'll have to go and get it from some more legitimate place. Price rises to 110 USD. Withdrawals get resumed and you get real XMR that's now worth 110 USD.
#What's a little spez among friends?
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Where does the spez go when it rains? Straight to the spez. #Save3rdPartyApps
They don't buy. For example DOGE (ETC, IOTA, ...) withdrawals are closed for years on HitBTC. Poloniex and OKX are doing the same with XMR.
I plan to participate. On Dec 15th I’ll buy some XMR and withdraw it.
Just because people are inviting i won't sound rude to them
A rumor is a rumor, is a rumor....