After more than one year of people talking about monero shortage i had some free time and decided to make a little research. i checked how many xmr were aviable in the order books of all the exchanges listed on coingecko at one point in the time (few hours ago), it took me almost 7 minutes to complete the task so i hope it doesn't invalidate the data too much.
Waves exchange terminated XMR support but was interesting how many pairs were listed on this exchange, in particular is worth noticing the degrees of connections that all those projects have one to each other. pastebin.com/Z8GwTAKz
in my opinion is strange how Hitbtc and fmfw have practically identical books but fmfw has less tradable pairs. is also strange how exchanges like nominex, hitbtc, btse can have roughly the same sell ammount as exchanges like Kraken, kucoin, huobi... Are beyond ridiculous the 47000 XMR on sale on whitebit if compared with 30000 on bitfinex. Make your own conclusion, probably this can prove the fractional reserve and how binance and others are selling paper xmr on shadow CEX trying to get real xmr cheap for their users. Imo this would explain the recent strength showed by XMR against btc and other shitcoins.
Just a matter of time befor other exchanges will suspend monero withdrawals again... I just know this.
Ryder Collins
It's been a long accepted fact that these chink exchanges launder funds with the help of paper XMR. The street price of actual Monero has always been way higher than its exchange price which should tell you something. I forget which exchange it was that collapsed a few years ago because of a run on XMR, there have been too many that have gone dark over the years.
Brody Ortiz
So to put it simply for a smooth brain:
Exchanges sell more monero to moon chumps than they actually possess. Because the exchanges know the phsycological profile of the moon faggots who are in the game for greed and they are confident they aren’t all going to just withdraw all their monero at once? I’ve never used a centralized KYC exchange before. I imagine it works like a stock market? And most of the consoomers of exchanges don’t hold their crypto in a private wallet right?
Hmm makes me think of a system where you would have gold backed currency almost. You can print as many greenbacks as you want. But the gold in the vault might not be there? If I am imagining this right, since I’ve never used an exchange, they sell you monero. It’s not deposited in your wallet. So your just buying a monero “IOU”. It sounds like, there trying to pull the same bullshit the federal reserve did with gold and silver. Just created an infinite amount of IOU’s and promised to tax citizens 50 years in the future. I guess they haven’t done the whole selling debt in bonds and promises to tax future citizens truck yet. So far there just selling scammy “monero IOU’s” to people and hoping customers don’t all at the same time demand their private wallets get filled. Am I on the right track here?
William Evans
There are 2 typos in crypto: the ones that can use it, the ones that are in for the gains and most of them leave all their btc on CEXs. Whoever is using whitebit.com/ is def not in for the tech. I mean look at it, def a binance side hustle.
Thomas Ortiz
Yes
Luis Nguyen
almost forgot! >noticing the degrees of connections that all those projects have one to each other Your Defi idol Tetra did get the invite to the party.
That is so gay. Why the fuck does everyone flock to these scams? Why the fuck is money always manipulated by scummy people like bankers and politicians. Crypto was supposed to prevent this. But it isn’t going to work if the evil sheepherders keep winning vs the sheepherders who actually want true freedom.
Christopher Jones
awesome work user and thank you for sharing yep. any time you see “fractional reserve,” just think, “someone else is making money with my money, instead of me”
Nicholas White
Great info. Thanks, OP. I understood something for once. I follow ya.
Zachary Powell
Poloniex has said XMR is "down for maintenence" for a month now and has disabled all withdrawals.
Samuel Lee
just like waves exchange
Austin James
The answer to your question would be considered antisemitic but with crypto you at least have the option to opt out of ((their)) schemes. Withdraw and hold in cold storage as much XMR as possible and you will be on the winning side eventually.
Ayden Brown
>So your just buying a monero “IOU" Exactly. Monero is targeted for abuse specifically because it's the perfect coin for exchanges to use to hide their activity. They could be siphoning funds off of their exchange wallets and using them for leverage trading on other exchanges, for example. If their actual Monero supply is running dry they just fucking blame/FUD Monero for some bullshit reason, or blame regulators spooking them about their privacy coins.
Julian Turner
What happens if they delist XMR and never allow withdrawals again?
Joseph Edwards
You’d have to be a complete smooth brain NPC in the event their supply runs dry to believe it if exchanges try to blame monero itself. Don’t really give a fuck. These fuckers trying to FUD the monero so that their sheeple won’t use it must be retarded? They seem to think people with principles aren’t behind the whole monero project, and we don’t give a fuck if monero goes down to 50 cents, so long as it’s private and we can send it to a citizen of communist China if need be. It’s like the sheepherders know and feel threatened by privacy coins but they can’t comprehend humans that aren’t addicted to money and greed and MOOOOOONING exist.
Another exchange will take the market share or atomic swaps becomes profitable business
maybe after this bear market we will leave behind the EVM tokens saga and retail will start to focus on tech, which means bitcoin and privacy oriented coins that are working and studying new ways of securing freedom of speech
