First of all this was a question posed on reddit in more detail
Read here first: http://www.reddit.com/r/peercoin/comments/2dcxwp/so_i_asked_yesterday_and_received_the_usual/
As I know many of you are not active on reddit I wanted to ask it here. Almost all of Peercoins volume takes place on BTC-e. Recently they have allowed free swaps to short Peercoin. I think this is important topic of discussion. Could this be contributing to Peercoins downfall recently?
Fascinating. I didn’t know this was possible on BTC-e either.
This means that if the price jumps, it could squeeze the shorts into closing their positions, leading to an even bigger jump. I wonder if the total amount shorted is publicly available data.
Thanks for bringing this to attention. I also wasn’t aware this was available at BTC-e now.
I wonder if this has anything to do with the recent narrowing of the “discount” on BTC-e Bitcoins compared to other exchanges. Today the BTC/USD appears nearly equivalent to elsewhere. Could this indicate higher demand for BTC in order to short altcoins?
From the Reddit thread:
As the price of PPC goes down against BTC, my BTC collateral is worth MORE PPC than it was worth when i first started. AND I am making a BTC profit on the short at the same time. Therefore my relative margin requirement keeps dropping the farther i go. It takes less and less BTC to hold my position!
If this is really how it works, it seems extremely shortsighted and risky for BTC-e. I am now worried about solvency for BTC-e considering its prominent role for Peercoin. I wonder what will happen when everyone withdraws their PPC balance and there are none left on the exchange to buy?
I think we should do anything we can to grow independent vom btc-e.
The current volume distribution is worrying and makes the PPC price extremely vulnerable to manipulation.
[quote=“willywithcoinnode, post:4, topic:2790”]I think we should do anything we can to grow independent vom btc-e.
The current volume distribution is worrying and makes the PPC price extremely vulnerable to manipulation.[/quote]dat
https://www.therocktrading.com/ + Ripple
Call to action: deposit 100PPC to The Rock Trading, place 50PPCs on their regular orderbook, other 50PPCs on Ripple network
Promote on Reddit
.
^^^
If you need XRP to activate your Ripple account and add trust to exchanges- post your address.
I can contribute too: I will gift 100 XRP and 1 PPC for anyone wishing to try Ripple.
/paci
I agree, we should promote other exchanges ; decentralization means also having the possibility and flexibility to have as many option as possible to trade, and utilize Peercoins…
I will contribute, 100 PPC on therocktrading.com and Ripple network
PPC + Malta
We should also get some volume over at Atomic-Trade
Learn about this great exchange here https://www.atomic-trade.com/about
It is a legitimate exchange I expect to be here for the long term. The Fincen license costed near 10 million dollars to acquire. They are updating site with candlesticks and a whole lot of other features soon.
Transparent: https://www.atomic-trade.com/Liquidity
By the way they have an innovative feeshare: https://www.atomic-trade.com/Rewards
We should add Atomic-Trade to list of exchanges to trade Peercoin and direct trading there. With enough volume they will add PPC/USD
My referral: ;D
https://www.Atomic-Trade.com?refid=HLAD3GIR
Atomic Trade has, on their site:
Fees subject to change without notice (because we may not get any notice unfortunatly).Although this is a bit nit-picky, I would be hesitant to send my money to a company that cannot spell.
It is very nice to see that they have a mission statement with noble principles in it but as Chronos mentioned is not great publicity to have spelling errors on their presentation page…should be easy to fix tho 
[quote=“kac-, post:5, topic:2790”][quote=“willywithcoinnode, post:4, topic:2790”]I think we should do anything we can to grow independent vom btc-e.
The current volume distribution is worrying and makes the PPC price extremely vulnerable to manipulation.[/quote]dat
https://www.therocktrading.com/ + Ripple
Call to action: deposit 100PPC to The Rock Trading, place 50PPCs on their regular orderbook, other 50PPCs on Ripple network
Promote on Reddit
.[/quote]
Yes you are right!
I’ll look into this too!
Why PPC on Ripple matters (and TheRock as a gateway):
Yup, we will hold some PPC in hot(ripple)wallet and pay merchants which prefer USD. They will receive bitstamp:USD or therock:USD IOUs in seconds. There is a risk of holding therock:USD( or PPC) IOUs but merchants are ok with that risk as long as gateway is creditable.
There will be tools soon™ that remove risk of holding PPC IOUs from client side- no risk of losing PPCs while keeping ability to pay with PPC instantly.
This will be much better than Coinbase or Bitpay.
While BTC is somehow Ripple’s competitor- PPC isn’t. PPC as a store of value (with value that gives security), Ripple network as medium of exchange, XRP as utility tokens. PPC can offload 99% of transfers to the Ripple network and not lose on security even a bit (unlike all? other coins [tx fees]).
Until we’ll have services directly suited for PPC - Ripple is a tool that can extend and add enormous value to PPC.
[quote=“learnmore, post:3, topic:2790”]Thanks for bringing this to attention. I also wasn’t aware this was available at BTC-e now.
I wonder if this has anything to do with the recent narrowing of the “discount” on BTC-e Bitcoins compared to other exchanges. Today the BTC/USD appears nearly equivalent to elsewhere. Could this indicate higher demand for BTC in order to short altcoins?
From the Reddit thread:
As the price of PPC goes down against BTC, my BTC collateral is worth MORE PPC than it was worth when i first started. AND I am making a BTC profit on the short at the same time. Therefore my relative margin requirement keeps dropping the farther i go. It takes less and less BTC to hold my position!
If this is really how it works, it seems extremely shortsighted and risky for BTC-e. I am now worried about solvency for BTC-e considering its prominent role for Peercoin. I wonder what will happen when everyone withdraws their PPC balance and there are none left on the exchange to buy?[/quote]
shouldn’t it be ok of btce as they just margin call.
Ripple is good.
Withdraw our PPC from BTCe, beat the short side.
According to this tweet, it happened on February 2nd, 2014…
Basically, speculators are the most active traders. Hardcore ppc hoarders usually withdraw their coins from the exchange. :
I withdrew almost all of my ppc from btc-e. They also mint with your ppc and sell them at market. Crazy to leave your holdings there. Everybody should remove everything and leave only some for trading.
I withdrew all of my money a while ago and only put something on there when I need to trade.