Understood, we hold factoids - but aren’t the outlook of the value of the company and the token highly correlated?
That assumes that their business outlook relies entirely on the Factom protocol. Signs point to yes, but look at Ripple. They've established a ton of partnerships and deals with major banking players, but most of those don't use XRP. There is nothing that says every product Factom produces has to rely on the use of factoids. Factom is also not a publicly traded company so they don't have to release a whole lot of information on that front.
Nano/XRB added to the giant Asian exchange Okex. Binance coming soon. Getting on big exchanges is probably a bigger deal for Nano than for most other cryptos. Let's say you think the scenarios for widespread mainstream adoption are fanciful or idiotic. Fair enough. But the clearest short term use case is for moving coins between exchanges to take advantage of arbitrage opportunities. Nano is the fastest out there and it's also free, which makes it the perfect coin for arbitrage.
Made my first deposit into Gemini today. Which coin should provide fastest transfer time and/or lowest fees over to bittrex?
How exactly are you going to arbitrage unless the price of Raiblocks (don’t call it Nano) is different on different exchanges? Many of the exchanges that XRB is on don’t allow you to buy or trade out in fiat so I’m struggling to see how moving XRB around gives you arb opportunities
Considering it was a market sell at quite low prices, it appears someone's long was liquidated on polo.
An investment in factoids should be a much better investment than one in Factom the company. Factoids are essential to the success of Factom inc. Paul Snow has said he expects Factom inc to only account for 5% of the total usage of the protocol in the future.
An entry credit is required to make an entry onto the Factom blockchain. Factoids have to be burned to create an EC. They are essential to the success of Factom Inc. This is not like Ripple and XRP. http://factomize.com/the-genius-of-the-factom-two-token-system/
Large companies and banks don't want to touch cryptocurrencies. When you use Factom, you don't have to. No other company/coin has this solution. Genius.
Buy the fucking dip. The FUD on this downturn the past month isn't even that strong. It's full of misleading information and scary headlines.
The total 24h volume is only $11,540,500. Throwing 10% of the daily volume all at once causes a drop, and crypto is so reactionary that the drop creates more dropping.
It's about the relation between two currencies not XRB alone. Say you have BTC on one exchange but it's trading 10% higher versus XRB on another exchange. You transfer your BTC into XRB, instantly get it on the other exchange, then swap it back for 10% more BTC. You could then keep it there, transfer it back and eat the fee, or wait for the rates between XRB/BTC on both exchanges to meet in the middle before swapping back. Also it's factually Nano, there is nothing else to call it...
I'm talking about moving the money between the exchanges, regardless of whether that arbitrage is actually on a NANO pair. For example, let's say you notice that BTC-XMR is arb-able on two different exchanges. You'll probably need to send funds back and forth to complete this arb. If you send your money in XMR or BTC, it's both going to take awhile and it's going to cost you a decent fee. What happens if that arb disappears while you're waiting for your transaction to be confirmed? That's not only a likely possibility but now you've lost money because you had to pay a transaction fee (I sent a little over half a BTC yesterday and it cost me over $18). With NANO your move will be basically instant and free outside of any trading fees. You don't need fiat for arbitrage. Fiat on-off ramps long term are obviously good and most will eventually want to convert to fiat but If I'm a BTC holder and I have 10 BTC currently but can increase that holding to 11 BTC risk-free, I'll do it every time and so would pretty much anyone.
There is nothing that says every product Factom Inc produces has to use the Factom protocol. For all any of us know, they could be developing blockchain solutions for companies independent of the Factom protocol. This was basically what was asked in their December AMA, and went unanswered:
Exchanges can take as long as they want to process a withdrawal of any crypto, so I have a hard time thinking that moving XMR is going to be basically instant.
XMR is slow :) It is true that exchanges can takes as long as they want to process withdrawals. Kucoin was under a minute for me. From what I've read on Reddit, others have ranged anywhere from 30 seconds to 5 minutes. I should have been more careful with my wording, but the point still stands that it would be by far the best coin to move between exchanges for arbitrage purposes.
It’s at the point where I’m like: “Do I take a hit on NEBL and just dump what’s left in there all into VEN at it’s more stable price points?” Yolo.gif
Binance withdrawal fees suck a dick. They really do not want small stakes people like me moving tokens off Binance to MEW. Or they do and they want to rape me with exorbitant extortion fees.