Bitcoin Forum

When these bitcoin exchanges freeze withdrawals for long periods of time how do we know they aren't doing this for profit? For example cryptsy right now has withdrawals pending for over two weeks so do to the scare the price of alts have shot up on the marketplace because people are trying to withdraw.

good luck if you get your withdrawals , today altcoins  exchanges are a bigger risk then the atlcoins they exchanged.,. i dont even use Cryptsy anymore since they to me are dead..  hate to say this but best if you trade and mine coins that are traded between the few exchanges that are support, exp bitcoins, litecoins ect ect..   

you will probably lose all your money. people warned about that exchange since months (google).

Cryptsy already turned scam. Say goodbye to your coins and move on.

If you cannot withdraw Bitcoins from Cryptsy then buy a small test amount of an altcoin and try to withdraw it. Keep trying different coins until you find one that you can withdraw quickly. After you find one then swap your Bitcoins for that altcoin and withdraw to a different exchange where you can sell them for Bitcoins.

You will take a haircut off your Bitcoins but get to withdraw them quickly.

Happened many times before with these Exchanges. i think Cryptsy is lost. The past is repeating.

I think it's because they're out of funds, these exchanges convert the bitcoins to fiat and vice versa and when the price is up they don't want to buy because they will lose money and which is why they hold withdrawals. Exchanges are the biggest scams in Bitcoin world, run one legit for some time, let the bitcoiners think it's trustworthy and when you have enough, make up a story that it was hacked, wait a while then come back with a new name.

The thing is whenever you send bitcoins from your wallet to anywhere, there is no assurance that you will get them back. There are  legit services/exchanges but it's so hard to know which is which.

True. I lost a fortune with Mt Gox. Since i am very sceptic about exchanges.

I only have 100 tied up in cryptsy so its not a big loss at all. But I really do feel like they're using this down time to make money. They can easily load up on alt coins and bring them to cryptsy to sell to users because they control bitcoin withdrawals. Right now more than 15 coins are overpriced on cryptsy

Anyone still using Cryptsy is mad, people have been warning about that exchange for months now.  It sounds like it will only be a matter of time. :(

ever noticed when you look at the order list, its small.. but as soon as you place an order a totally new order (never in list before) jumps ahead of you.
thats the cryptsy's own bot.
if they think you can make a profit because there is a spread. they will put in an order above yours so they can get that profit before you

Its a lost case. Its very obvious. Cryptsy died and no one is going to transfer out their funds. Cryptsy CEO is smoking blunts and fucks luxuary hookers in the Bahamas with your Moneys.

Yeah I've noticed it a few times. We need an exchange for the people

Say goodbye to your coins man, Cryptsy is abslotely turned into scam exchange. I have leave this sucks exchange few months ago.. Move on

I and a lot of other people have been trying to get in contact with Cryptsy and they are ignoring us, they even made the chatbox to registered only most likely because they don't want to see non registered people to see the amount of people complaining to mods in the chatbox about how they can't withdraw their money. Luckly I only had altcoin trash in Cryptsy but still annoys me that I can't sell it and get some sats out of it.

Its quite simpel scam business model.

1. Setup company
2. gain lots of trust and reputation
3. Misuse that trust and reputation AND TAKE IT ALL

Step 3 is happening now. 

the name was cryptsy wat a dead give away

Keeping bitcoin in exchanges is always risky. There is no one out there protecting your money- you can only depend on "blinded" trust. Get your money out as soon as possible. Keep the transaction amount small.

what does mean a fortune for you? give some numbers.

Fuck that, that only encourages people to start exchanges and scam people. What this gentleman needs to do is get his coins back, however he can.  And yeah this could be to profit but probably not.  They're losing all of their customers because of this. There's not going to be any exchange left.

They are blatant scams that steals bitcoins. That shouldn't be called profit.

Cryptsy is now a scam. and maybe you should move on about your coin.


And start with a coin in the other.

People please stop posting that cryptsy is a scam and suggesting what I should do in the future to not lose coins. I didn't post this for help over the lost coins! I posted this to suggest a possible unmoral technique cryptsy might be using to pump and dump coins on their market. If they're doing what I think they're doing they are having a success rate of basically 100%.

well they indeed appear to be scammer now, i dunno why they are dojg what they are doing

but this https://bitcointalk.org/index.php?topic=1292355.msg13275094#msg13275094 remind me that they are not trustworthy anymore

I don't think they are playing a good strategy. Once they start to halt withdraws people start to panic and try to get their coins. this causes even more difficulties for the exchange to satisfy the customers requests

altcoin exchanges don't need to scare people. they are earning big money from pos coins that they have in their cold wallets from all their users. they can simply dump the staked coins and get the money. it's easy and free profit.

I don't think they are worried about satisfying us. If they can stock pile alt coins, freeze wallets, then be the only ones that can withdraw btc they make bank because people will pay for overpriced alt coins.

Surprisingly overnight I got a reply to them from a query I sent ages ago.  Their peercoin wallet was non-functional.  Conveniently it has been restored.

It is sad but true and really it is killing slowly a lot of coins, the fair would be the exchanges pay the stake to the coin owners and they take only a fee of it, not the whole like actually

Cryptsy did got some bashing but all the withdrawals did came true right.

The amount of topics here is crazy. This guy Big Vern is a public figure, will he risk all that?

Definitely don't recommend keeping anything but dust in cryptsy wallets right now.  Though I've been using them for quite sometime I can't ever remember a time where things have been as bad as they have been this past month and a half.

The moment exchanges hold your funds, stop using them and inform other users.
Exchanges losing customers run scared and they will adjust their policy, if not they will go broke eventually.

When I checking cryptsy.com we looked at many factors, such as the ownership details, location, popularity and other sites relating to reviews, threats, phishing etc. Although a site like may have a high trust rating, it's worth just checking the countries involved as these could indicate that goods would be shipped from abroad rather than your home country