Secoccular, hi

In the l o n g downturn following the 2013 spike, I was devving with another rare crypto. And as now with 42, we were concerned to drive volume. And I personally was interested in P2P.

So, ‘hoovering’: The Coin had – as we have – that splendidly tradeable ‘flatness’ of price. I allocated a good chunk of capital to the project.

Note: tight buy-sell spread.

So, I would leave my computer logged in to the trading-pair in question open as I did stuff.

I’d keep pushing my bid to the top of the ‘low side’ bids. Or if the spread went crazy crazy tight, I’d buy tiny bits on the high side.

Note again: rare coin. Small amounts on the markets.

Well, within three months, I had about eight thousand bucks’ worth of ‘packets’ of Rare Coin safely at home in my QT, and with the buy-in prices marked.

Then I started selling packets of coin to the members of our ‘in group’ – I belong to an alliance that’s been running for years.

The project was non-profit – but if you are committed to the crypto in question, you don’t mind having quantities in your control.* Sometimes I actually sold packets at less than the market price: members had only to ask what I held.

And we called it ‘Hoovering’ exactly because it involved patiently ‘sucking up’ all those little bits of Rare Coin that got put up by bots on both the high and low sides.


*Abd there's a bunch of theory about 'price modulation' mixed in with all this

Small overview of 42 coin exchanges

Trade Satoshi - exchange with chat/trollbox, faucets (free coins to get you started), and a working support line, as well as chat tips. Has minor GUI bugs that sometimes occur,
                       nothing serious, easy verification with very little info, 2FA enabled. Chart has poor indicators.
                      Withdraw fee is 0.00000005 42 coins
                      42 pairs: BTC, DOGE, LTC, ETH
                      50 confirmations for deposits
                      Overall OK

Livecoin - exchange with a working support line. 2FA enabled, no ID verification necessary. Chart has poor indicators.
               Withdraw fee is 0.00000100 42 coins
               42 pairs: BTC, ETH, USD
               8 confirmations for deposits
               Overall OK

Nova Exchange - exchange with chat/trollbox, 2FA enabled, easy ID verification, working support line. Chart has poor indicators. Could have better design of listed/traded coins.
                         Withdraw fee is 0.00000015 42, formed with TX fee and withdraw fee together
                         42 pairs: BTC, DOGE
                         40 confirmations for deposits
                         Overall OK

XBTS - decentralized exchange, no verification necessary
            Withdraw fee is 0.47737 BTS(Bitshares) and 0.0001 42 gateway fee
            (have yet to make deposits)

Note that confirmations are set by the exchange, not the network. They range from 8-50 confirmations, so with a 20minute block time, 50 confirmations in around 17 hours.

Cryptopia: Update: We have transitioned 24% of all wallets to our new secure servers. Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.

Maybe you don't even want to log in at Cryptopia Do they have any plans to pay everything back to their customers?

Crytopia is open and my funds are still there!!!  42-coins forever!!!!  

update::  the nodes info is still down!!

So all police investigations are done already? Otherwise I don't think they should be allowed to resume trading. Has the police been involved?

Appreciate your response in such detail and thank you also for sharing the article!

Lots going on -- P2P now. But details to follow.

Meanwhile, IndiaMikeZulu got crypto colleagues stuck in Venezuela: no power. No water. Occasional Net.

And if you want to send them a message, leave it here, and I will pass it on.

 And some news from Cryptopia:

"If you held balances in coins that were lost in the event you will start to see Withdraws on your account for those coins. The TXID for the withdraw will not exist on the network but will detail how the coin was impacted in the event. For each withdraw you will also see a subsequent deposit of Cryptopia Loss Marker(CLM), the TXID for this will also not exist on a network but will detail the coin it represents a loss for. CLM is not a coin, it can't be traded as yet, it is just a number in the database that represents the loss for each coin for each user in $NZD at the time of the event. There are still steps to take to ensure we are taking a legal path toward reimbursement."