bitcoin

[mrcash02]

Lol, you can be right, but what can we do? We need exchanges to deal with money, to buy/sell currencies, to trade, to convert BTC to fiat... The risk is everywhere, but we have no choice here, or you use exchanges or you don't use Bitcoins. The only thing we can do about this is to withdraw our money from exchanges often, to use trusted sites, this way we are minimizing the risks.

[Duzter]

There are enough stable exchanges.  Bitfinex, Chinese exchanges and arguably BTC-E don't represent all exchanges, you can just go to Bitstamp, Coinbase or Kraken where you can deposit and withdraw Bitcoin and fiat quickly and freely.

USDT is crap but it doesn't apply to everything.

Those exchanges require way too many data to trade. Most of us just want to trade BTC into altcoins and back to BTC without having to give our personal data, so those 3 exchanges you cited are useless for that as far as I know since they require personal data for withdraws.

If you want to trade anonymously you are going to accept some risks unfortunately, at least until someone can come up with a proper decentralized exchange.

Yobit and Kraken don't require personal ID to trade btc-->altcoins as far as I know.  Not sure about Polo, but I think that's true for them as well.  I don't entirely agree with the OP here, but a lot of the exchanges are certainly dodgy as fuck.  That includes Yobit and others.  Don't know anything about how or who runs them, and that's kind of important when you're entrusting them with large amounts of money.

Lots and lots of exchange websites are available for the users to make a better profiting. Very few have gained popularity as a recognised exchange service provider such as Yobit, Liqui, bitrex, etc. Most of the trading services through the same have provided the access into all forms of altcoin and other exchange moves.

[cpfreeplz]

There's a lot of people currently living in mansions earning millions for doing nothing. They're all insolvent. It's not going to end well.

That is correct, but that is unavoidable, if you collected large capital somehow you are in a state when you don't need to work anymore.
Your financial benefits will accrue from reinvesting itself. This ugly truth is still more visible in fiat money ecosystem.

So what are you suggesting Op? Boycott all exchanges? Not the best or wisest idea IMO.

A smarter idea would be to use decentralized exchanges only. The problem is I don't know of any and if I did I doubt the volume would be any good on them.

[QuestionAuthority]

Figured that one out all on your own, huh.

[Sniper44]

this is perfectly expected and if anyone thinks otherwise then they don't know how the world works! we have bitcoin which is offering some sort of anonymity to those using it then we have these "websites" working with it. and the funny part is that they just exist, there is no safety guarantee, there is no regulation, nothing!
and they DO run away and they DO do shady things.

and unless we start seeing either some decentralized (good) exchanges or at least regulations that makes it much harder and nearly impossible for them to scam, we will continue trading in fear.

[Juggy777]

Shell Game
https://en.wikipedia.org/wiki/Shell_game
The shell game (also known as thimblerig, three shells and a pea, the old army game) is portrayed as a gambling game, but in reality, when a wager for money is made, it is almost always a confidence trick used to perpetrate fraud. In confidence trick slang, this swindle is referred to as a short-con because it is quick and easy to pull off.

https://pbs.twimg.com/media/C-e16GsXkAAmAcR.jpg
https://pbs.twimg.com/media/C-NS6HSWAAAJHZU.jpg
There's a lot of people currently living in mansions earning millions for doing nothing. They're all insolvent. It's not going to end well.



It doesn't take a prophet to see that it's only a matter of time before all these exchanges collapse.  

Now is your last chance to withdraw your coins and savings.  

Don't say I didn't warn you.  

The lord has spoken.  

I do agree your concerns are legit, but to say all exchanges will fall flat, is a bit too much of exaggerated don't you think so? I don't see any need to remove coins from exchanges I am using and I am happy to keep it safe out there and nothing is going to happen. Yes few rotten exchanges might be there but then there are other trustworthy ones to. All you need is to weed out the rotten ones and stick to legit ones. Kraken or coinbase in my opinion are legit. So if ones holds his coins out there I see no reason him/her to be worried about exchanges going flat.

[AGD]

Poloniex has already shown how to make customers pay for a security hole:

http://www.bitcoinx.com/poloniex-hacked-12-3-bitcoin-supply-withdraws-difference-user-accounts/

Honest customers paid this 76 BTC bill with a higher fee and Poloniex even made it look like it was a good and professional way to do it.

NEVER TRUST EXCHANGES!
They will definitely run with your money. It's only a matter of time.

[Kprawn]

BTW bitcoin is pointless if you're going to keep your bitcoins on an exchange or in someone elses wallet. The whole point of bitcoin is to have control over your own money, and to give your power to people that you want to invest in. As soon as you place your bitcoins on an exchange, it's not your money anymore.  

The people running these exchanges are the shadiest, slimiest, most corrupt creatures on earth. If only you knew!  

You've been warned.  

How will you grow Bitcoin if you not going to have some platform where you going to trade for Fiat? Localbitcoin is one option and as you can see

the Chinese has already figured that out. The Chinese exchanges are the only exchanges with some problems these days and people are getting

ways to go back to the way that things were supposed to be done. {P2P}