Bitcoin Forum

Hello,

I am interested in your opinion about what is happening to cryptsy lately. Cyptsy used to add new coins and in my opinion was leading altcoin exchange. In last weeks cryptsy added only known coins (which were already 'pumped') and very few really alternative ones. On the other hand coinedUP invested in new coins making more and more people to leave cryptsy in hope of profit from not yet known coins.
I heard that cryptsy is performing some upgrades to their page, but can it be really explanantion for stopping trusted users earning money on altcoins? Alterative coin's market is changing rapidly, most of us can not afford to wait weeks for them to fix their problems...

Being honest, I want to add that I wrote this in hope that someone from cryptsy team would read this and finally understand that it is unfair to punish users for cryptsy's problems.

Thanks in advance for answers and ideas

fud up in here

One factor could be the trading fees charged by Cryptsy vs 0% on CoinedUp.

Adds up quickly, especially for day traders.

But Cryptsy uses 2FA, and that extra security may be worth the extra fees?

Volume is key for trading - I'm guessing Cryptsy has more, but I could be wrong.

Depends. I know guys that trade on low volume exchanges and rake in the crypto. They use different strategies for low volume, and it works for them. Higher volume is what most people plan for, so, it's kind of a self-fulfilling prophesy there.

coinedup took on a lot of new coins, so got the interest - but it's so slow for me

Love the 0% fees, though

No, you are probably right - "normal" technical analysis and techniques for regular markets such as stocks, futures, or commodities cannot be applied to the BTC and altcoin markets.

My greatest fear, though, is hodling some huge stash of "whatever" coin, but with no volume, essentially left as the last "baghodler" :D

cryptsy has the appearance of being a leader as for a long time it was the only place to trade altcoins, and i guess being american exchange they get more media attention there as well but so many bugs/issues i think they are slowly losing users to other exchanges now like coinex and coinedup.

it seems like they also manipulate new coin listings as well to give impression its valuable eg 42 is a manipulated coin launch, , it began at ridiculously high price before real trading began, the tradebook was even frozen for a few hours so even matching buys after the inital price fixing did not go through.  its not fair to the traders who bought some beleving the hype about rarity and expecting it to go up, place buys over the overpriced buy orders that were frozen.
A fair release of 42/BTC would hav been to let the market decide its value, instead there were overpriced buy/sells minutes after it was listed, too early to believe that they were actual deposits from the miners of 42.  this type manipulation of markets i don't see how US financial authorities would allow this sort of behavior to continue if cryptsy is serious about getting USD pairs on there.