Bitcoin Forum

I have watched the progress of this new "exchange", in short, alt coin miners are getting duped and they are falling for it. Have you looked at the standing buy orders for every new coin? they are all the same price asking for similar amounts. That site is rigged to make sure alt coins fail by devaluing them. We are the suppliers, ergo we have a say in the price, i motion we drop that site off the forum completely and ignore them until they get serious, my word, in 3 days they killed 6 alt coins that actually were gaining a following.

No altcoin was killed, only value dropped.

I did find it quite odd that the exchange is moving at such a small rate. Meh, ill stick to mcxnow anyways    :-\

ABORT CRYPTSY! No buy volume = panic selling to the bottom for miners and holders thinking no one wants to buy.

The problem is:


MARKETS / LAST TRADE
BQC/BTC
0.00004900
BTB/BTC
0.29000000
CNC/BTC
0.00010000
DGC/BTC
0.00030000
ELC/BTC
0.00055001
FTC/BTC
0.00101002
GLD/BTC
0.00000999
JKC/BTC
0.00000900
LTC/BTC
0.02475000
MNC/BTC
0.00085000
NMC/BTC
0.00000000
NVC/BTC
0.03200000
PHX/BTC
0.00000000
PPC/BTC
0.00150000
PWC/BTC
0.00002010
RYC/BTC
0.00001100
TRC/BTC
0.00300010
WDC/BTC
0.00025010
YAC/BTC
0.00039900

Too many coins... Can spend my BTC only once...

The exchange is trash. Saturated with alts trying to dump.

This. The only thing about Cryptsy  is it's been adding new alts faster than other exchanges, so these new coins have even less time to build up interest before they get pumped and dumped on an exchange. Thus, the downward spiral just starts up quicker. That's not a fault of the site though. It's a free market - if these coins can't withstand that then too bad.

Long-term, if the coin has actual merit, it will survive.

i said ...


Doest have volume there

I'm calling BS on this. Big Vern is probably one of the largest supporters of ALT coins with a large number of pools and an exchange. There are too many coins for this community to support them all. It's not Cryptsy's fault and is actually a nice exchange.

Many currencies have an issue, but some still find a degree of stability even after listed on Cryptsy.com (like Digitalcoin).  Really what we have is a hyper exposure to the new currencies that don't really have a good foundation to begin with and therefore they die off - in this day of at least three new alt currencies per day, maybe the "invisible hand" isn't such a bad thing.

I've never seen such a blind gang, have you noticed that most of the anti-alt coin rhetoric has disappeared? And then somehow, a record breaking alt-killer adds coins on a daily basis? real sites wait and watch to see a coins future, eg btc-e and gox, even bter is more cautious after the cnc fiasco. You guys maybe mine a coin worth something today, then tumar you guys are trading at an average of 30 ltc per 1k, then jus because the "official " site says 1 ltc per 100000, you all folow their lead. You are letting yourselves be convinced that your product is worthless, but wait and see in a month, they will sell you your coins at current docs prices or higher. it's your loss anyway, this is a community of open ideas, try yours, i'll work with mine. Sound mnd, sound decisions, RESOUNDING profits.

Hanzi Big Vern, who is big vern to value your product? So what if the man has pools? are all his pools free? NO! everyone wants to profit and pay the bills. Once you realise tz a dog eat cat world, you'll be more canine.

This ^^ if i charge you 3% of everything you mine, you and a thousand other people, i would never need to mine again. Let alone when i have an exchange. The buy orders are bogus, and to prove a point, once my btc gets confirmed, i'm going to help rob people blind today.

You don't know what the heck you are talking about. All of his pools are donation driven - that's a 0% fee if you didn't understand.

Plus running a pool is not a cakewalk. Sure it's easy to set one up but with the way pools get DDoSed here upkeep and mitigation is costly. If you think pool ops are raking in the $$$$ you are wrong, maybe a few big ones are like BTCGuild but it took them years to get there.

You argue that Cryptsy is setup to make alt-coins fail by devaluing them. But it's run by someone who runs a ton of alt-coin pools. Where's the benefit?

Big Vern stands to gain by successful alt-coins. That means more people mining, more profit from pools (even though it's donation-only), higher trade-values and volumes from successful coins on the exchange will net higher fees. Everything is set up in such a way that Big Vern benefits from strong alt-coins. So why would his exchange be set up to make them fail?

please open the transaction history on any of the websites you mine on, you'll fid that even if you specify 0% donation and the pool is free, deductions are still made. get your ducks in a row man.

the hand that feeds can also be the hand that punishes

Let's face it. We don't like Cryptsy because make us to Dump to soon.

If you're really worried DDoS them. Or we can collect bounties so they don't put the coin into the exchange.

The market dictated the value of the coins. Vern simply instituted the mechanism for trading said coins. All the coins added since launch were due to petitioning by miners and/or coin developers and supporters. During beta there wasn't a single coin on the exchange that he didn't have a pool for. A free pool mind you. Of course bag holders are going to be upset when their coin-of-the-week gets massively devalued, penny stock holders probably feel the same way when their investments fall through. The market is decided by... the market. And as stated earlier, if a coin has merit it will survive. Of course, it's always easy to find fault when you look hard enough.

true, ddos huh?

Cryptsy is what happens when people with shit for programming skills whip together a complete turd of an exchange overnight. Everything about the site is just awful.

THe name is alright I think :)

that's it.

Ok, the buyers and sellers of certain coins agree to an average of 1 btc per thousand, they trade for 3 days at that price, then the moment it pops up on cryptsy, the buy orders are all of a sudden 100k for 1btc? in the space of 5 minutes? Maybe i'm a monkey on a keyboard then and my mining rigs are piles of bananas http://www.lolroflmao.com/wp-content/uploads/2011/12/rich-bitch-monkey-banana-pile.jpg

Who is 'We"? This is one of the most ridiculous statements I have seen posted. And you would resort to crime to support misguided beliefs. Truly pathetic.

you just simplified this equation

I think that was snark, not a straight statement.

OK well it just pisses me off when I see DDoS as a solution.

If people are willing to sell at that price, then unless the medium used to facilitate the exchange somehow brained wash them, the fault would lie with the seller... more so even than the person placing the buy order. Let alone the medium used for the exchange. I have coins on Cryptsy, but have found it no more necessary to sell low than I do on BTC-E or Gox. The fact that others do does not put anyone or anything at fault but themselves for being manipulated. Or the scammer setting the low buy orders. A free market is not a democracy where a few individuals can sit back and dictate a pricing structure which everyone else must adhere to.

Seriously man, the guy has skills, the exchange works fine. It's not the most beautiful creation but devs normally aren't designers as well.

And it doesn't have a god awful troll box lol

ok, everything is cool now, he removed my coin from the exchange, he has agreed to give us a week to get our coin to grow up a lil YAY!!!!

now people are reporting missing balances, but i'm sure they will all be refunded, have patience, the man is doing his best  ;D

You are forgetting a lot more miners are jumping on these coins lately as well. Most of them don't care if they sell their coins for a pittance, so long as the effective profitability is higher than mining LTC/BTC. That in itself is a huge reason why prices are dropping.

this

+1. Agreed. The "flash miner" mentality is what is devaluing coins more so than anything else. That and the fact that most coins can only be traded for other coins which can only be traded for other coins, ad infinitum.

so the guy sucks monkey balls, is a horrible coder, has a rigged site, is killing all the alt-coins, robbing everyone blind...he removes your favorite coin per request and now he's awesome and is doing the best he can?? That's one hell of an about-face. What about all the other alt-coin he's "destroying" guess you're as selfish as the miners you got what you wanted so everything is grand now. Are you 12?

If they are selling your precious coin so low. why you did not buy it?  Let the market decide its worth. The site interface is great and professional except they have little buyers but they will catch some volume soon.

What is crypsty expected to launch any coin if crypsty dont have volume enough??

Just for kill coins... pay attention guys

A example was mcxnow started just MNC/BTC and now they have a good volume , it is basic without volume nobody won

i could think up a dozen jokes referring to your maturity, but i'd rather not since you fail to see the joke. is English your first language or did you jump on the train later on in life?

http://belieber.files.wordpress.com/2010/08/haters-gonna-hate.gif

here's me at twelve

What about those coins that were on the orders, and have not returned to your account

I think Cryptsy is interesting experimental software but, unfortunately, it is beta quality and has distorted markets unfavorably.

I do not believe it is executing orders correctly.  If, one example, you put in a sell for .00000000001 it will execute it at that price regardless of whether there is a matching higher buy order.  Vern insists this is "by design" but I disagree.

For now, I think we will be better off doing peer to peer exchanges on this forum.

Perfect!!

i agree with you maybe he wants kill all altcoin or he isn't smart too see that

I was trading on Betfair for long time, and this is ridiculous !
Order should be executed at maximal available price !

What you are looking for is a "Market" order option, which is coming out this weekend.

BigVern

Isn't that one of the most basic, basic kind of orders?

Should you take the maximum seller price or the maximum buyers price,   each would prefer the others.

Like I said, for the case that was originally listed, he was wanting a Market Order, which is coming out soon.


BigVern

Market order is somethig different...

vern,

open an account on bter or btc-e and put in a SELL order for .000001 on any coin.  It will match you against the highest buy order in the stack, then the second highest, etc... until you are completely filled.

That is what a seller expects.  He does not expect to fill at the illusory price

i said it all about a month ago ha ha - its strange being involved with a group that doesn’t understand 50 % of the aspect of their own entity?

I was not being serious of course.

All this shitty alt coins could be banned out of the forum as in the old times of btctalk.

We should invest our time in creating worthful alts. As I think is the NooScript's one or others.

Scams like de PXCs or others are only damaging the community.

Wow, that is HORRIBLE design!!

Seriously, NO exchange in the world uses such a horrible model that it executes below highest ask. You have to be joking right? ONLY reason for this is so that people can 'use' this flaw if they know about it.

Well said :)

But, It doesn't change the facts that PXC is still a fail coin.

Actually, yes, my pools are free.   I don't set the value on the market, the users do.

BigVern

This ^ I did go and check my records to the pools and they add up. He is not trying to devalue any coins. Quite the contrary if he is listing it on an exchange out of his OWN resources. Get real people.  ::)

Yeah vern has a vested interest in ALT's I use the exchange pretty exclusively now. Have no issues.

vern seems like a great guy and Cryptsy has lots of potential just need to align its trading behavior with the other sites

I don't actually mind using the site now that I understand how the site executes trades.  Just advise everyone to be VERY careful when keying in sell order prices.  What you type is what you'll get regardless if there are higher buy orders in the queue.

I also like the site, but this matching rule should change. I've never seen any exchange match like that.

Worthless coin gonna be worthless.

I've actually created a warning popup earlier today that alerts the user if they attempt to sell below top buy and visa-versa.   Now it tells you straight up whats going to happen.

BigVern

nice addition vern

Excellent I think a warning suffices.  Do you do your own coding?  Very nice work on the exchange

Vern recently stated he will not be listing anymore coins that are not at least a week old and then after that only after talking to the dev. Good news :) Also yes vern does his own coding.

I think its down since yesterday .

http://isup.me/www.cryptisis.com

It's https://www.cryptsy.com/

Phew - I was having a hard time keeping up!

oh yeah poor sal musta been taking a toll on you

Where did you see that?

I mine all of verns pools and they have their own forums where he puts out the info for his pools and exchange.

This is nonsense, the market is manipulated every hour of the day with carefully crafted buy and sell orders, you only have to have a look at the bots on Gox to see that. There are people that know what they are doing, and know how to take advantage of miners dumping new coins.

Crazy how people try to make poor vern a villain hes about the straightest shooter I have met in the coin world.

The irony is that you pointed out yourself this happens on just about every other exchange currently available. Same thing happens in real world trading. People TAKE advantage of, and people get TAKEN advantage of. For everything sold anywhere, someone is making a profit and someone is losing a possible opportunity for more. Doesn't matter if it's a penny stock, a car, real estate, or as in this case, a coin. Saying it's not market dictated because some people are better at it than others is like saying the NASDAQ isn't a free market because Warren Buffet is better at it than everyone else. Look at oil. Nothing is more systematically price controlled. yet people are still willing to pay for it. People will pay or sell at the price currently dictated by the market. No more and typically no less. Why the price point is where it is at is irrelevant if someone is still willing to trade. Would you prefer some sort of oversight committee? Maybe some sort of centralized regulatory commission? Isn't that what crypto's are trying to stay away from at their fundamental core?

I'm kinda on the fence about liking cryptsy or not...but I use several of Big Vern's pools and they are all well run imho.  I don't think he'd be up to something scammy or shady with cryptsy.  Again, just my opinion.

It's not scammy, it just lacks some pretty obvious features for traders, like volume info, long session timeouts, and a trollbox  ;D

I also find the candlestick chart style hard to read, but that's personal taste. I like the line charts on bitcoinity.org

Even when there is no price movement the candlesticks have a bit of wick sticking out each end, the ones on BTC-e don't, so they look cleaner easier to glance. Also get rid of all the zeros padding to the right of each number, it's just visual noise that hinders readability. When you look at a coin trade page on Cryptsy, the first thing you see is zeros all over the place hundreds possibly thousands of zeros that simply don't need to be there. I don't see the point in representing 2,000  as 2000.00000000

+1 agreed.

Let's get real; 90% of alts are created for the sole purpose of mine and dump. The value of a currency is dictated by it's usability. That's why BTC is so high, LTC has some value, other coins drop like a stone as soon as pump support dissapears, a couple of hours after they hit an exchange. No real world use == no value.

I agree with the first part, however I think the "drop like a stone" is because miners are clueless and just want a sale, they will try and sell at what ever the top buyer is offering. Traders on the other hand have a buy price they don't want to sell lower than, but exchanges like Cryptsy are full of miners selling, not traders selling.

Couldn't agree more. BTC and LTC can actually be used as intended, as a form of currency. Hence their fairly stable valuation. Everything else thus far, with maybe the exception of FTC which can actually be used with some retailers, are simple investment commodities. Their only real value is a speculated one. A value which is pegged against similar investment commodities with similar speculated value. The problem I see, is that even an honest to god coin with every intention of breaking the mold will simply fall prey to the pump and dump flash mining mentality. For every 1 person with an actual vested interest in cryptocurrencies, you have 100 who are simply here to pay the electric bill, break even on the hardware, and buy a case of beer.

anyone lost a few words abour fees yet ? i mean that site just started and for that the fees are mighty high. maybe drop the fees for a promotional period to lure some btc in ?

When I started mining it was because I saw merit in the ideas behind bitcoin, but it was an experiment and I took the veiw that it was worth risking some time and energy on it. The coins I mined were hardly worth the cost of electricity, but as months passed those coins slowly gained value. When I mined litecoins it was much the same.

Let me give it to you straight... It ain't easy to make money... These new coins may have less resistance to development because of bitcoins successes but there must be development behind the currency.. not just the release of the client. And anybody can (and apparently will) release a coin so suddenly theres alot of competition... yada yada limited market capital.. blah blah debasement.

Personally I feel angry when someone who is doing something for cryptocurrency gets used as somebody's scapegoat when their get rich quick scheme doesn't come off as planned....

I hate Cryptsy, with a passion. It is a joke exchange. People only use it, because it is super easy, t use it to manipulate prices of coins, to make them appear profitable on CoinChoose. PWC did it, and now GLD is doing it, and, since their are a lot of stupid people in the world, as we saw when PWC reported as 1500% profitable, people are wasting votes on GLD. I believe we should take a stand, and boycot Cryptsy, completely

I say let the noob alts fight for survival in the arena of Crypsty !!!

(Cue classic star trek arena battle theme music)

NO MERCY !!!! KILL!!! KILL!!! KILL!!!

FYI - PWC's 1500% profitability was a bug on my site (actually a crash in the PWC daemon which I made an error in my script to restart when the daemons crash).  I do filter out a bit on Crytpsy really tiny trades AND my hope is the market notices (as anyone should be able to write a bot that would equalize out the prices when people do dumb things like that - since Crytpsy has an inherent API that is easy to use.

It's impressive this guy can set up alt.coins into and exchange so fast, sometimes there isn't even a daemon.

I totally agree with you man. There is too much drama on crypto altcoins. We should just stick to BTC.

If you have ever mined on any of verns pools you'll find that they are well done. He codes his own stuff and has a community that feeds him info. He is an all around good guy who loves alt coins. Cryptsy is his beta exchange it is still BETA he is constantly working to make it better some really cool features on the way. Eventually he has mentioned he will add FIAT deposits etc. When vern calls cryptsy no longer a beta then complain about how its not what you like. For now features are added daily.

Additionally Vern has decided to only add coins after a week and only after speaking to the coin dev. I don't think anyone anticipated it could hurt the market I mean Vern is providing a service its the miners who dump for pennies not paying attention to profits that hurt the alt coins led by coinchoose and again I don't blame Sal he provides a tool that folks should use to assist not guide their decisions. Heck I use coinchoose all the time but I read between the lines on the exchange that is showing the prices and attempt to make educated decisions on the topic.

For you new miners out there don't dump your coins immediately hold and sell at the going rates you will probably make double your profit. Some folks out there I know aren't even covering the electric bill.

Anyhow my thoughts on the topic.

I agree on the pool part. The only pool I actually set up a donation. Still waiting on that 5k LKY block  ;D

Can you set up powecoin pool for us?

Put BTE ByteCoin on this exchange! :P

I've been using this exchange for about a day with DGC, PWC, GLD, WDC and BTC

Works fine for me.

This devs of this exchange seem to have adding new coins down to a science. Out of all the exchanges out there. This is the only one I've actually bought coins on :)

But doesnt have BTC volume for all coins in crypsty.com

Main thing that bugs me with Cryptsy is the incessant need to login all the time, other exchange have a way more sensible session timeout.

I've traded there successfully, no probs, quick too

It's more intuitive than MXCNOW and some others. I don't have any problems with it. Volume will increase over time from buyers.

I also like the graph feature where you can slide the parameters to stretch it.

Cryptsy is currently the best exchange imho. Very active devs and volumes will pick up with time.

Cryptsy


eror witchdraw


N4

This sumer same proublum

Today this exchanger eat my 4 bitcoin





I NEED PAY INTERNET PROVIDER RUSIA
I BE OFLINE

THIS CRYPSY MAKE ME SUKER IN MAY JUN JUL MAKE ME NERVOUS HOW FREZE MY 80 LTC


TODAY THIS CRYPTSY MAKE ME SICK


40 or 50 GUYS POST IN CHAT SAME SITUATION

You mad?

This place is a joke, its seriously needs some regulation, crypsty are high volume trading on spreads and canceling sell orders so they can cash in.
Its been going on for to long now, its not hard when u are doing 10mil + volume a day to rent pubnub.com servers..... the only explanation for this is its more financial beneficial to not fix.
I just made my options clear in irc and was greeted with a instant BAN, now consider i have lost over 5btc with crypsty today and that is not including all my canceled orders and "missing money".
We must stand as a community and not let them get away with such blatant day light robbery. Can anyone suggest to me a new exchange to take my volume to please? If we stay at crypsty we send the message that this behavior is acceptable.

Very well put little digger - I see lots of dedication from some party's (e.g sxc) and only time will tell as to which will see us through the fog n smoke.

Closer to topic I have also experienced some erratic irreversible behaviour on my cryptsy account for which I have filled out a support application and as I'm sure many have experienced that whilst you wait for a reply you are being left behind in the market.

This may not be quite the evil hand some are making out and missing out on a profitable trade is annoying but it's a full on piss take to wake up to your hard mined funds going AWOL....

I feel this is essentially added risk to miners due to greedy wales, us miners support the network and are only seeking a ROI & little profit.... 10x profits is just unrealistic greed.

Good exchange but must NOT add every shit coin that comes out. Enough is enough.

If you're doing day-to-day trading and it requires moving coins between exchanges, AVOID Cryptsy like the plague.

Yea, I am waiting to withdraw 0.05 since yesterday and still not confirmed...?..i will avoid using cryptsy in future.

BitCoin   1KAsG7djfSe3fp8S8NA2QjKSxxxxxxx   0.05000000 BTC   No   2014-01-30 07:39:28
Pending

This is why you got to love the iCoin team for not wanting to push there coin out too fast onto these big exchanges. They want value first.

Cryptsy just keeps adding coins while the concerns of the users are ignored.

I don't use Cryptsy unless I end up with a large amount of crypto I can't sell elsewhere.

Coinedups website is slow as hell sometimes not even loading but I haven't had a single problem there.
Deposits always show up on time they don't get lost in some black hole for hours on end.

Coins-E has also been very good to me. People should really boycott Cryptsy because of their poor business practice.

I have seen so many hate messages about cryptsy that i won't ever use it.

My favorite exchange is mcxNOW (http://bit.ly/1ckq2p8)
You can get paid by simply chatting in there. Along with mcxFEE it has nice features and it is really fast.

I have a question.

How is the HI/LOW calculated on cryptsy?
For example, on DOGE/BTC the high went to 0.00005 and the low was 0.00000002.

I had buy orders on levels higher than the declared low (Sitting there for 3 days or more) but they never paired. So is it a bug, or someone actually bought at the low?

What's going on with cryptsy? Transfer doge coin 2 days ago and increase coin in cryptsy wallet but Cryptsy DOGE Amount in Cryptsy is still 0.

Please don't use Cryptsy in the future.

I must be the only person who actually likes Cryptsy. It works well for me, and the fees are reasonable. The only problem I really had was with the 502 error, although that seems to have improved. I've found I sometimes get issues if I try to have multiple tabs loaded for different coins, but if I just have Cryptsy in on one tab, it's really stable. Sure, stability could be improved, but all in all, it works, and I haven't seen anything better, especially with that range of coins.

i some btc left in cryptsy, i hear ppl experiencing troubles can anyone confirm this?  :'(

thanks in advance

You didn't confirm email. That's your bad

Dont believe the trolls your money is fine.