Bitcoin Forum

Anybody considering purchasing any digital assets off of crypto::stocks needs to be made aware:

DVC, LTC, and BTC wallets are supposedly offline (preventing one from withdrawing) even though it seems to be accepting dividend payments from asset owners for shares held any attempt to withdraw your coins will currently fail.

I don't like CryptoStocks at all, but the two things you've mentioned are completely disparate and can run in isolation. In order to accept dividend payments all it needs to do is run a node and watch the blockchain ("watch only" style). To withdraw funds, though, that's a hot wallet and would normally be on separate infrastructure if they have any semblance of a clue.

You do raise an interesting point.  However, the fact remains it doesn't seem to be a very high priority for the fella in charge.  These hot-wallets, if indeed that's even how he has them structured have now been down for several days.

*so now it appears as though dividends are being delayed yet again.  Was kinda hoping I was wrong about not having a multi-tiered wallet situation going on.

And to add to this warning, I tried to deposit 0.1 BTC to my CryptoStocks account today and it has not shown up in my account despite 10 confirmations. I submitted a support request but they administrators have not historically been very communicative.

I think with all of the exchange competition, someone needs to create a more reliable Cryptostocks exchange!

When they were down and out yesterday, I was able to get a div from one of the ventures on there but not a likely payment from one of the sig sponsors here. They better run an audit soon.

Have actually been discussing this very topic with a couple of my friends.  Though CS has been around for quite sometime, it's becoming more and more apparent that Kumala doesn't seem to spend a whole lotta time even making sure his sites wallet's are working.  Add to this the ridiculous fee's, 0 due-diligence, and serious lack of support we've all agreed that CS's time is limited at best barring some sort of major delta in Kumala's modus operandi of who gives a flying-<beep>.

Decentralized exchanges are the next logical step in my opinion.  It seems that no matter how decent the intentions anyone of these fellas starts off with, at some point in time they all ultimately let the greed get the better of them and head for the proverbial hill's with everybody's bitcoin.  I really hope I'm wrong about the operator(s) of this exchange (not convinced there is more than 1), but it's not looking good.  :/

the stocks are doing deals as well for this weekend, i have a 0.1 BTC on the way to Cryptostocks but fails to show.

Last time this happened the BTC address was missing about a month ago, I also raised it via email but to be ignored until Monday Morning.


So I am wondering if the chap who runs the site? why dont they have more staff that might work weekends?!

It's run by Kumala.

You may know him from his other popular scam, Vircurex.

http://www.cryptoarticles.com/crypto-news/2014/3/24/vircurex-freezes-users-withdrawals-the-next-mt-gox

https://bitcointalk.org/index.php?topic=569037.0;all

He hasn't been around here since April 11th when he posted in this thread: https://bitcointalk.org/index.php?topic=140700.0;all

Just tried withdrawing LTC, DVC, and BTC yet again.  Wallets still offline :/

Way to stay on top of things Kumala

**So now we have MSP, DEBT, and KINETICS all requesting that we disclose our e-mail addresses given how shaky things have been at CS lately I can't really blame them...this is really getting pathetic!  No sense crying over satoshi's lost I guess. 

***Have a feeling the fat lady is warming up on CS fellas.

As I understand, all wallets on CS are offline. So probably it just needs restart.

If he was going to scam, he would let people deposit, so he can get more

There are Cryptsy shares on CS, do you thik BigVern would let it slide if its scam?

It's either a scam or an extremely inept operator. Which would make you sleep better at night?

Ticker "COIN" has just paid dividend to share holders. I wonder if CS wallet is still offline, can anyone confirm?

Maybe Kumala could ask for usagi's help, I heard he's quite good with online wallets.

I almost listed something on Cryptostocks, but think I will wait and reassess before I do. What we need as a community is to not accept these low standards of service. I really like the idea of what Cryptostocks provides and there definitely is a gap in the market for it, but their execution is terrible. Does anyone know of similar security exchanges? Havelock Investments seems decent, but there are very few securities listed on their exchange.

great idea, perhaps tradefortress, ukyo and karpeles can lend a hand too, all star lineup creating a killer exchange platform

Havelock's volume is a few times that of cryptostocks. While the variety of shares is important, its better to list on an exchange with good volume than an exchange with no volume and tons of listings (such as cryptostocks)

Confirmed.

Just tried withdrawing my DVC, still getting wallet offline error

lmao at the Karpeles, Ukyo, tradefortress.io lending kumala a hand to get things back online...that was funny in a painful sort of way

damit, its time to panic buy whats left in our account?

Tbh i was afraid of this weeks ago that this turned into vicurex saga sigh

I really don't understand why people keept their money with Kumala after Vircurex fiasco. Maybe they are stuck in "securities" with neverending IPO's, is this the explanation?
Anyway, cryptostocks is a joke aproaching to it's end.

This should raise a red flag about their listing. If they've managed to pay dividends while wallets are not working, this might mean that they never actually used the funds raised on CS, and simply redistribute them to the stock-holders in a pyramid scheme.

Some of the securities are legit, and Cryptostocks is the only way to invest with them. Cryptsy, Coinfarm, Cannabit are all good.
However, it might still not be worth it to take the risk inherent in dealing with CS, even though these securities are good.

Yeah true, i also tho that.

But they could also have sold shares in these 4 days when CS wallet was down. Perhaps they thought it was better to pay what is left then keep it if CS go down for real. So they try to save themself not losing the coins, shady imo

That would be possible, however, their recent trading history shows prices that are all over the place; so Coin eithers sell their share at market price (shady), or they've never used their funds at all (very shady).

Right, stuck with IPO's and some project are good invest like coinfarm. Those guys will pay dividend tru another way if CS ever goes down. Just have to trust the project and aware not to leave much in CS wallet

They are not the only project that paid dividend when wallet is offline haha

BCMINECS
MINPIT
WPOOL
SBFS
BITSEED

Its also possible they left funds on the site in order to cover dividend payments, but it is fairly shady

People, keep this thread updated when any withdrawal is approved. For now this doesnt look well

Tried a BTC withdrawal again about an hour ago, no go.

There are two persons on CoinReturn's thread who report having withdrawed and deposited successfully!
https://bitcointalk.org/index.php?topic=504128.220;topicseen (https://bitcointalk.org/index.php?topic=504128.220;topicseen)

I can also confirm that my withdrawal was just pushed through and successfully received on the other end

Assuming that withdrawals are now fully enabled, hopefully this is a learning experience for everyone here (and a free one, at that).

Cryptostocks really cannot be trusted to act in its participants' best interests. What other exchange has had a wallet down for days?

Great news!!

Good lesson idd

I'm not sure what to do - I don't really trust Cryptostocks after this, but can't really get funds out because so many projects are IPO-locked and there isn't enough buyers on there to sell out at a decent rate anyhow. I hope projects look into alternative crypto stock exchanges or this spurs a developer to make a better one. Why aren't there more options for trading securities than CryptoStocks and Havelock? There are so many competing coin exchanges right now that converting one into a stock exchange would make sense.

My Friday deposit is now in (Tuesday), I also feel the trust has gone

At least we know he's not a thief. But the lack of transparence, and possibly of gross negligence or incompetence, might be good enough reasons to stay away from the site.

i think i will be slowing down with this site, hoping alternatives come


I am now transferring other BTC across to CS, this is working

Confirmed.  Successfully withdrew BTC and DVC.

I also successfully withrawed.

now if he'd just fix his mail server so we get notifications again...

=squeak=

did i make an exchange overnight

We need a good crypto stock site, I would love to invest but not with such an unreliable platform. 

If you do decide to invest, don't do it on a site that doesn't care enough about making your full transaction history and trading history available, at any time... (and not just through the API, which CS doesn't even make available there, either)

No logged history, is never something you should accept from a site that deals with financials. EVER.

=squeak=

At least CS allows for the venture owners to access your email address and it's linked to your share ownership so if there was a prolonged DDOS or outright meltdown, then you could still get your divs on a different wallet. Of course, it would be a headache to manually pay out divs in micros every other day til they were able to get us on another platform. As it currently stands, most of the securities out there are listed on CS so if you're trying to invest in some of these great ventures, that's the situation here. The key thing in investing here imo is that at least business can be done offline if necessary and that the security owners don't run off. RETURN is the best and CryptoVest is an up and coming favorite of mine.

Realised that I had a tiny amount of BTC on there and got it out- of course, paying the ridiculous withdrawal fee of 0.005 in the process.

That isn't enough to overcome the inability of us to audit our own accounts in the first place.

=squeak=

There's also the fact that, well, it barely has any competion.
Trading these unregistered stocks is in a legal grey area, so I doubt a legit, trustworthy and feature-rich exchange could be developped around them.

Why dont we build our own Cryptostocks exchange. Need 2 main guys that runs the exchange, 2 developers, 2 guys do the support. We raise a funds and investors are stockholders.

We only need trustworthy transparant guys that can run it. Raising a funds isnt a problem im sure of it.

Agreed, need a couple decent community organizers to step up and create an IPO and I'd put a coin into it as a shareholder. CS charges .005 to withdraw so there's definitely a way to undercut that and still be pretty profitable. Then, we can host all the other securities plus the new ones that will come out this year and next, we'd be booming.

And securities pay the 1 BTC fees to be listed.
That would definitely be profitable, especially since pretty much everybody has lost confidence in Cryptostocks and are simply wishing for a new service to come along.

I'd be willing to help with customer service on it... my coding is too rusty but I still understand the issues... and I did that kind of work before...

and I'm pretty anal about giving people the service I expect to get myself...

=squeak=

ps: as for the withdrawal fee, should be straightforward to make it more optional... a standard fee if the customer is impatient, and wants a higher priority withdrawal, and a reduced fee if the customer is ok with it taking a while to get into the blockchain, if it means saving him a little coin on the other side of it.

Hi all,

Good to see some ppl are interest about this idea of a new stock exchange. I have also received a PM but we should go furter from here. I think there will be more ppl interested if they read it. Also i have seen post on this forum ppl willing to buy Cryptostocks if it is for sale.
I was plan to make a Thread about this but my english is bad so i skip it. Hope someone else step in to make a thread and we can discuss from there.

I think this can go BIG!

If someone starts a thread about this, please link to it here, I'll move over...

Just... please, if we start something new? Lets PLEASE get complete auditing records for the customers available, and complete trading email notifications... about the only thing I still like about Vircurex, is it gives all of the info we need in their email notifications... that is, when we actually GET them...

I wouldn't be able to invest much... I've taken heavy losses at CS... but I would definitely invest.

=squeak=

I have been working on just that. Thats why I've been quiet as of recently, any developers (please show proof of work/knowledge) and people with prior 'support staff experience' please PM me.

not sure why you're trying to waste time creating another exchange platform
counterparty decentralised exchange's wallet's can't be frozen- there are none
dividends can't be withheld by exchange operator - there is no exchange operator
everything is transparent and auditable on the blockchain.

Does it allow trading of cryptocurrency/asset, or does it simply allow distribution of dividends?
If it is the latter, both Peershares and Nxt allows that already, so it's nothing new.

There is also value in having a platform for those who like to invest who aren't necessarily as computer savvy as many of us are.

=squeak=

The btct.co / litecoinglobal.com (BTC Trading / LTC-GLOBAL) code is still up for sale.


It had all that and a bunch more.  (oAuth API, sample oAuth client, third-party android and iphone apps, complete CSV account record downloads, google auth support, yubikey support, voting system, notifications system, basic options trading, manual withdrawal system, multiple security features, etc.)

I don't think it's sold yet because the price tag is pretty high.  It's one of the few sites that didn't lose everyone's coins to hacks.  (think for a few minutes about what that's worth.)  Not going to let it go for less than 180 BTC at this point.  I need the funds to offset legal fees.   :(  :(  :(

I'm really happy Cryptostocks is working again.

In regards to costs to raise funds CS is the cheapest hands down.

It has paid for itself in no time.

I think the rules are simple

1. never invest anonymously so that when the site goes down the owners can still contact you.
2. Never leave your crypto on the exchange.

As long as both those rules are followed its a pretty good exchange so far.

The other exchanges charge in excess of 1000%-10000% more over the year.


Kr,

Malcolm O

That's definitely a project we would love to support as well.

Kr,

Malcolm O

He is the right guy to make this happen, any real developers should contact him

Well the CS owner didn't reply to my email or other emails, we are live but for how long.  I possibly not going to invest much more there until I see something more from CS, they need to open up now as we all know it will happen again.

I have also been vocal about duplicating their site, why not!? we need protection.  My coding is rusty and not a project I can do right now but I don't see it being impossible.  A lot of the stocks are like crowd-funded bitcoin mining operations, a lot of them seem to be updating their hardware and I hope they stay consistent.

Go ahead guys, I am not a developer or designer, just an investor.
I am going to invest if you start and will be great if Coinfarm and Return are from the begining. They give good reputation.
I am bored with CS issues and many scams listing there.
You have my support

Havelock seems pretty good for an alternative, yes? I havent really tried it out but i'm really surprised I don't have money there but do have money on CS, wish RETURN and other legit projects could somehow move there.

If people made another funding platform like CS it could definitly be improved with some very basic things:
- Require project owners have a password that is 16 characters w/ one uppercase, one number, one symbol
- Require certain changes to projects to have a waiting period, like 24 hours to create new shares.
- maybe allow shareholders to issue stoptrade order if like 1/2 request it (i.e. project owner gets on forum here and says account has been hacked, bunch of shareholders found proof of fraud) and stoptrade would freeze owners withdrawals.

Havelock is nice, but they have higher costs on the share issuers, which is the only thing going for cryptostocks is that little business's are able to sell shares. Litecoininvest is also good but its in LTC, fee is only 10 LTC to list and the people running it are competent (have talked quite a bit with them). To bad their volume sucks :S

Don't have too many complaints about Havelock (other than down frequently).  Haven't heard of litecoininvest, will have to check them out :)

cryptostocks is nice site, but there are problems sometimes. When he fixes, it will be good.

There are godd projects on cryptostocks. Cryptsy, return, cannabit.... I won shares from many projects on cryptostocks, it would be shame if it broke down.