![]() This is just like a bank run, and serves to prove that exchanges work on a fractional reserve basis.ģ) The exchange is trying to use the assets themselves via staking. Founded in 2012, it has become the go-to platform for traders & institutional. Short of this reason, it must be.Ģ) There are not enough Iotas availible to meet withdrawal demand. Bitfinex is the longest-running and most liquid major cryptocurrency exchange. Its entirely possible that a withdrawal will stay indefinitely stick on 'processing' because Bitfinexs has no IOTA left to withdraw in its hot wallet. While Binance will retain their IOTA, were emptying other CEXs hot wallets. In this way it functions as an explanation for why it is not possible. Huge delays when withdrawing on Bitfinex. Suspending withdrawals only makes sense in two situations:ġ) When a network is malfunctioning or upgrading and transfers are no longer possible. Suspending withdrawals does not make the funds somehow safer. I don't buy the logic that they are aware enough to know about updates to a wallet, but also think that they are somehow worth preemptively shutting down withdrawals for. You can still trade as normal on our platform with IOTA and any other available token. We are still waiting for confirmation from them with regards to when they will resume transaction operations. In you're reasoning, it would also require timely knowledge of the impending updates, which itself implies a more than cursory knowledge and awareness of the platform itself. Binance responded by saying the following: Hello, IOTA has currently suspended transactions due to a bug in their system. It's back up They halted withdrawals when the coordinator was having issues but they haven't reopened them yet now that it's fixed. The act of suspending withdrawals is not an automatic action. Got an email this morning that IOTA withdraws were available again but of course I'm away from my computer. You don't see all other tokens having their withdrawals suspended for extended periods of time due to any old update (including those that involve transitioning to staking like Cardano or Ethereum). r/CryptoCurrency.I still disagree with this line of reasoning. Posts that are not related to IOTA can be made elsewhere, e.g. This includes, but is not limited to, no: personal attacks, threats of violence, slurs, trolling, profanity, posting people's private information (doxxing). No buying/selling of iotas on Reddit (only trust the listed market exchanges) scammers may try to scam you! Report any scammers to mods here. Related Subreddits: r/IOTA / r/IOTAsupport / r/iotaTipBot / r/IOTAmemes / r/CryptoCurrency / r/CryptoCurrencies Rulesįor discussion of non-market-related IOTA topics, visit r/IOTA. Supply & Units: i./lsq4610.jpeg / i./Y6zOB5G.jpg IEN Application: goo.gl/forms/OrrXmhu1rKfy2dgp2 InformationĮcosystem Fund: /iota-ecosystem-fund-2-millionĪMA: r/Iota/comments/6hugtq/ask_us_anything We sell quality used post-war British military uniforms for serving personnel, 1940s events, fancy dress, steampunk - British Army, RAF and Royal Navy. ![]() IOTA is focused on being useful for the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT), data integrity, micro-/nano- payments, and other applications where a scalable decentralized system is warranted. Further, unlike blockchain architecture, IOTA has no separation between users and validators (miners / stakers) rather, validation is an intrinsic property of using the ledger, thus avoiding centralization. Scaling limitations have been removed, since throughput grows in conjunction with activity the more activity, the more transactions can be processed & the faster the network. ![]() IOTA uniquely offers zero-fee transactions & no fixed limit on how many transactions can be confirmed per second. The IOTA Tangle is a quantum-resistant Directed Acyclic Graph (DAG), whose digital currency ' iota' has a fixed money supply with zero inflationary cost. Cant withdraw my iota on Binance US I purchased iota with an ACH transfer about 10 days ago, and had the iota i purchased locked until today. IOTA is an open-source distributed ledger protocol launched in 2015 that goes 'beyond blockchain' through its core invention of the blockless ‘Tangle’. For discussion of non-market-related IOTA topics, visit r/IOTA Please focus discussion on IOTA investment, trading, and market-related activity.
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