Starwalker Has Been Busy with Disruptions with Cryptoexchanges and Ethereum!
Hello people of Steemit. Starwalker here. Sorry I have not been able to post anything here since my introduction. I've been very busy invading Earth.
For one, I am using crazy skills to take over the minds of Earthlings by helping create an addiction to .... yes kittens!!
No not those kind of kittens, but CryptoKitties
Perhaps you've heard about it?
..."That might be the case on ethereum, where one project is proving so popular it's putting pressure on the network's technology. Best thought of as a decentralized Tamagotchi, CryptoKitties appears to be striking a nerve with new users, making ethereum fun and accessible to those who aren't in the tech nerd domain.
Already, the app, which uses ethereum's blockchain to create a public, shared history of cryptographically unique (not to mention cute and cuddly) fluffballs, is ethereum's most popular, with users having spent at least $3 million total on breeding, buying and selling the in-game items, up from $1 million just yesterday. And currently, the average cat is trading for $100 in ether.
"But the application is clogging the ethereum network, putting transactions in a long-time limbo.
Due to network congestion, we are increasing the birthing fee from 0.001 ETH to 0.002 ETH. This will ensure your kittens are born on time!" the CryptoKitties team stated in a tweet surrounded by siren emojis to express the direness of the situation.
Now that we are in control of Ethereum all kinds of things are happening. Many crypto exchanges like Bittrex are having problems....seeeee....
muhahahaha!
Starwalker did not anticipate this kind of thing to actually happen. Perhaps this is the true reason Bittrex is having a bad day?
Since the summer of this year, Bittrex has been imposing changes on its users and requiring increasingly detailed verification paperwork. Accounts have retroactively been downgraded in response to these policy changes. As a result, many users have found their accounts disabled, and many more have noticed their withdrawal capabilities locked.
While this began several months ago, the majority of users were affected in November, where Legacy accounts (unverified but registered well before the new verification policy came into play) saw withdrawals limited to just .025 BTC/day, and then reduced just a week later to zero.
In order to regain withdrawal privileges, users must fill out verification forms. With basic verification, users can withdraw .025 BTC/day. Once users receive enhanced verification, their withdrawal limits are expanded to 100 BTC/day, so long as they have two factor authentication enabled.
While this sounds understandable on the surface, the real problem lies in how Bittrex is handling verification. Users who fail basic verification, whether due to misusing an international character or even for no reason at all, are required to submit enhanced verification. If the details in documents uploaded for enhanced verification don’t match the details submitted for basic verification, users must have their documents manually reviewed by Bittrex support staff.
Don't let this make you feel like Grump Cat!
So, Starwalker has been busy. But Starwalker will be back with much to say here on Steemit! So, in the mean time comment, resteem, and upvote all of my steemit posts! Oh and follow me. You want to follow me, ok?
That's what's up.
Indeed. :)
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