Can't wait for the extra coins to be listed on the Mineshaft 2.0. Been mining on there since the release yesterday and like the new features that allow the low/ medium and high auto difficulty settings and fixed difficulty setting.  The previous version of mineshaft was a bit limited when hiring big mining rigs that required fixed difficulty or didn't work properly on low difficulty. Keep up the good work !

the exchange works great but I think what really makes Cryptopia unique are the additional  features like the marketplace that allows you to use crypto for buying and selling items, the forums and mineshaft.

Like a lot of exchanges there are many coins listed on Cryptopia. Crypto is vulnerable to hype and manipulation. Often when coins are launched the prices rocket and then drop. If you look on the coininfo page PSB has a 0 star rating - that is a bit of a warning. https://www.cryptopia.co.nz/CoinInfo/?coin=PSB

Coins are listed on the exchange if they meet basic technical criteria (wallets work, nodes are active and blockchain code is secure)  and listings are usually paid for ( in the past were voted on by users of the exchange) .  Just because a coin is listed it does not mean they are endorsed in any way by the exchange. It also doesn't mean that the coin is not flawed. The exchange tries to make sure that there are not any obvious problems but they are not the developers of the coin so they are not responsible for the technical or financial success or failure of the coin.

I've used Cryptopia.co.nz for some time now and like the way it operates and prefer it over the other numerous exchanges that I use.

Bitcoin is only pseudo anonymous. It becomes identifiable at its endpoints (exchanges) and where a wallet becomes identifiable (usually by choice of the owner or by IP).  The public ledger is view-able indefinitely https://blockchain.info/

Yes -  it is illegal - you are taking digital assets that don't belong to you.  Accessing a public website for a purpose other than what it is designed for can even land you in jail. https://www.wired.com/2013/03/att-hacker-gets-3-years/

There are still lots of scam sites offering the non existent Yesminer and symilar non existent scam miners. I recommend that as many people as possible do a negative review on these miners so fewer people get duped by these scam sites.

http://fortune.com/2016/08/08/government-seized-bitcoin-auction/

Yeah sorry - the post was party tongue in cheek. I should have looked it up to get my facts straight - the auction I was referring to already took place in August.

But no doubt new ones will come up - in different countries. Australian Authorities have done the same thing.

Yes - R1's are very unreliable. I have 2. One intermittently works. The other will if you default it often enough work for short periods and then stop working altogether. I wouldn't recommend buying one.

They are a great idea (if they worked properly)  - bitcoin lottery 1:4000 years chance of hitting a block
I use the usb of the R1 to power a raspberry pi

Buy it from the FBI auction. They seized lots from silk road and other illegal operations. Surely cannot be safer than buying it from the FBI. 

It is a Pyramid sceme. A lot of people will loose money in it.

The admins on there hate this site.  So you are unlikely to get an "official" thead on bitcointalk from them.

Avon, Herbalife and Amway all sell products that some of which are priced far more expensive than any of their competitors products.

They all run cultish style training seminars.

MLM is overpriced items that are sold through pyramid style scemes. Leocoin is an overpriced crypto sold through MLM. There is little or no difference.

MLM is legal and it appeals to certain parts of the population.

I do have an issue with the false claims like "truly anonymous" - it isn't. Wallets can be traced to an owner.
The pumping of prices on exchanges to make it look like it is traded there.

They also claim that the smaller denomination of leo coin makes it more usable and that because Bitcoin reached up to 1200USD per coin, which made it inaccessible for many people and not practical as currency - which is bullshit because a Satoshi is smaller in value than a cent.

I differ in opinion as to whether Leo is a ponzi and only time will tell who is right. A ponzi eventually collapses.

Would I invest in it - hell no !  Crypto is full of good opportunities and Leo - in my opinion - isn't one of them.

But there is also lots of other crypto out there that have fake markets and some exchanges have fake volume by using volume bots.

CLARIFICATION: Leocoin in my opinion is scammy. I wouldn't put money in it and would advise other likewise.
This is a theoretical post only - it is NOT an endorsement of Leocoin or MLM.


EDITED POST:

MLM tends to be a bit pseudo religious and cult like - I don't personally like it - but it is legal in most countries.

The main exchange, the code, the mining (POS)  and the promotion is all controlled by the same people and main stakeholders.

Centralisation makes it risky. If the system collapses it has no recoverable value.

With MLM you always pay a high premium for a product because it has many levels of commissions to pay - so you will never get a bargain or good deal. So it does NOT make a good investment.

There are some successful MLM products  - like Avon, Herbalife and Amway - however this is not necessarily a good thing. Just because companies that use questionable sale techniques don't go broke doesn't make them worthwhile joining.

The price of LEOcoin is being manipulated on the exchanges.




This images shows that exchange pumps take place to give the appearance of market change. It is just a price increase instigated by a large holder of the Leocoin crypto.

Because crypto is largely unregulated many unethical things can occur. If this happened with a registered security in a regulated market it would in most likelyhood result in prosecution.

This is something that happens in crypto and should be viewed as a warning of market manipulation.


HOWEVER - AS A SYSTEM:

CONTROLLED MINING, CONTROLLED EXCHANGE, NODE CONTROL and SOFTWARE CONTROL can have advantages and makes a system secure if the people controlling the system stay around. It also makes you totally dependent on that group of people.

Controlled POW mining (rather than pos), controlled exchange, node control and software control would be ideal for an existing trusted and regulated bank. It would make transactions easy and secure. Government oversight and strict financial controls would be needed for such a system to be safe.

If it was run by a established bank and had some government oversight it would have commerce benefits.
Without such a trusted organisation and government oversight it creates additional risk.

Crypto is still largely unregulated - unlike financial markets. Centralized control creates extra risk.

So when security, anonymity, price and success of the coin is controlled by the same group of private people it becomes like joining bartercard or investing in interest bearing gift cards or sending via paypal.

It does remove a lot of the benefits of decentralized open source crypto that is subject to market forces and relatively free from government control.



NOTE: This post is heavily edited from the first post to make it clear that it is only talking about SYSTEMS.

This is NOT AN ENDORSEMENT of Leocoin. In my opinion Leocoin is NOT a good investment.

In my opinion Leocoin has been sold using exaggerations and misrepresentations.