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If we all made a pact to withdraw all XMR from all exchanges then …

price would have to go up. You don’t need XMR to trade, you can use another asset like BTC and borrow almost anything else to trade with leverage. The spread between Kraken and Binance is over $20 as I write this. There might be some truth to many exchanges running a fractional reserve when it comes to XMR. It was the same with gold 100’s of years ago, nobody ever found out until too many people tried to withdraw at the same time. There’s 220k members on this subreddit. If we make a pact to never leave any XMR on exchanges, and withdraw bought XMR immediately it would pull the curtain on this alleged fractional reserve.

What do you think?

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12 Comments

  1. I have a serious amount of XMR left on Binance because I treated it like a tier 1 bank. Maybe it is, maybe it is running a fractional reserve, I don’t know for sure. I just know that if they are making billions each year they can afford to source XMR from other places without running a fractional reserve and hurting the price. I have taken off my XMR off all other exchanges, just waiting on Binance to let me withdraw.

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