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Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: A Cryptsy Opinion [Poll Added]
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on: January 16, 2016, 07:41:58 PM
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... most likely the "hacker" will never be found as it is most likely vern himself. I hope he at least looses in court and will have to pay back everything lost + does jail time. Maybe it will then serve as a warning for other exchanges.
I understand being pissed off about losing money, but it's important to place 'blame' in the right place. Did Vern or anyone else at Cryptsy actually do anything crooked? Or did they just get hacked and then try to survive the attack? Did Vern or someone else at Cryptsy do something that you would not have done in a similar situation? Of course, not letting the public know way long ago this had happened. Most people put faith and trust the funds were going to be there. We all thought they were whole, not doing a ponzi... and yes, this is a very good example of close to being a ponzi. You notify your users and then let the cards fall where they may. Your eventually will be exposed one way or another, it might be the next day or 2 years if you do not, but it will be found out. |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 16, 2016, 07:26:24 PM
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The drop is caused because Cryptsy is collapsing, I think.
If a reasonable solution is reached, then we'll see a recover, otherwise two more years of bear
Speaking of which, I think Craptsy is dark now. The drop is caused because Cryptsy is collapsing, I think.
If a reasonable solution is reached, then we'll see a recover, otherwise two more years of bear
Causing a fall of $ 430 to $ 370, loss of 1 billion dollars in marketcap, in 1 single day? I don't think so. I'm sure it helped. Not Cryptsy itself, but Cryptsy reaffirming the (seemingly obvious) fact that so-called 'trustless' currencies, like filthy fiat, rely on trust. Only instead of needing to trust legacy institutions -- greedy banks and their henchmen, the lying governments -- trustless currencies require you to trust fellers like TradeFortress, Ukyo, and Big Vern. Yeah that was kinda my round a bout point yesterday that trust is a huge thing, and with the exchange ( another I might add ) going down and lord only knows how many thousands of dollars are now missing, to the normal joe this is not good. The media will have a field day with this for sure... again showing how much growing this thing needs to do. |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 15, 2016, 11:27:26 PM
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So Cryptsy was really not whole ? Pulled a Gox? If that is true then guess what? BTC image is going to be damaged big time, and much worse than Gox era.
No one gives a shit about Cryptsy. I don't think there was single moment in time where they weren't a shit hole experiencing problems. Also, they were hacked a year and a half ago, and the coins have been sitting since. I know they had issues from the start, and that was the main reason I stopped using them. I got into the crypto game around the time it got too expensive to mine via video cards, so I went scrypt, made my BTC that way. But they were the only real exchange at the time that did the alts, and man, I hated nothing more than getting ready to deposit coins while there was a pump only for the coins to go into limbo for days and by that time it was too late. So Cryptsy was really not whole ? Pulled a Gox? If that is true then guess what? BTC image is going to be damaged big time, and much worse than Gox era.
Not really! Gox was much much worse! Maybe, as the amount yes, but to be honest, the whole exchange thing was to have matured enough to the point where people should not have to worry about such examples of this. There has been more than enough time for exchanges to get their shit together so this was not to happen again. Sure, this might have happened in 2014, but just now coming out with this info is just plain wrong. Innocent people ONCE AGAIN put trust and their coins into an exchange that had no way of actually being able to pay it back. IMO, this is almost like a Ponzi on some levels. |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 28, 2015, 02:35:20 AM
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Beijing market is in meltdown, so expect some temporary gains in Bitcoin. Next few hours will be interesting.
But we will be back to 230 by Friday.
If that is the case you should be more than happy to take 10 bucks over your spot price then, after all, giving you 10 dollar profit. More profitable to sell at 290 and buy them back at the lower price. If you are a hoddler, then you may not get that. What this holder doesn't get is how you can be so sure it's going to be appreciably lower on Friday, let alone all the way down to $230. Sounds like a typical beartard pipe dream. If it goes down to 230 or below I will gladly toss in more than me weekly 3% I normally do. Heck, still waiting on the sub 200, I got very lucky earlier this year and caught the crash below 200 and happened to have money to buy a little bit. IMO, a return on my 1.5 BTC buy has shown great return if I have to cash out now. More than if I had put it into a saving account for sure. |
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