Vircurex just another scam-exchange now ???

[markm]

Either Vircurex's display of chain hashpower and difficulty is broken or they have decided to jioin the ranks of the scam-exchanges who sell garbage that has such pathetically tiny difficulty and hashpower that it is basically just a freebie give-away for anyone with a handful of banks of Jupiters block-eruptors to PWN.

How is a coin that doesn't even have a few hundred millions of difficulty, heck doesn't even have a few tens of millions of difficulty, not automatically de-listed as too vulnerable to remain on an exchange

WTF, once upon a time Vircurex seemed like it might actually be taking its business seriously, but if the figures it is showing for the difficulty and hashpower of the brand new scamcoin "DOGE" that they just listed today we'd better take all our money out of there since they obviously no longer care about security. Is there much likelihood at all that any of the coins they think they have in their wallet will still be there once the people trading DOGE to BTC and taking the BTC home with them release their alternative blockchain?

-MarkM-

[BitcoinEXpress]

Either Vircurex's display of chain hashpower and difficulty is broken or they have decided to jioin the ranks of the scam-exchanges who sell garbage that has such pathetically tiny difficulty and hashpower that it is basically just a freebie give-away for anyone with a handful of banks of Jupiters block-eruptors to PWN.

How is a coin that doesn't even have a few hundred millions of difficulty, heck doesn't even have a few tens of millions of difficulty, not automatically de-listed as too vulnerable to remain on an exchange

WTF, once upon a time Vircurex seemed like it might actually be taking its business seriously, but if the figures it is showing for the difficulty and hashpower of the brand new scamcoin "DOGE" that they just listed today we'd better take all our money out of there since they obviously no longer care about security. Is there much likelihood at all that any of the coins they think they have in their wallet will still be there once the people trading DOGE to BTC and taking the BTC home with them release their alternative blockchain?

-MarkM-

What is it exactly that you are so butt hurt over?

How does the low hash rate of a coin and its subsequent forking compromise the security of Vircurex?


~BCX~

[markm]

If the coins turn out not to be in your wallet once you buy them and take them home that would be bad.

If the coins turn out not to be in the exchange's wallet when you try to withdraw them that could be bad too though maybe in principle if the losses were not too much the exchange might cover it, maybe, if you are lucky. Bear in mind coldwallets are no defense against 50+% attacks...

As to the butthurt, it hurts to recommend an exchange as being maybe possibly the one, or one of the few, that might be taking its business seriously, then have it turn out to be just another scam-marketplace. It makes one's other coins seem besmirched by association by being listed on such a site, and one's recommendations suspect as one had in the past told people it looked like that particular exchange was maybe actually taking care to pick things to sell that might actually be good secure currencies not yet another 51%-attack-in-the-making.

People trust the major global stock-exchanges to list stocks that are mostly not all scams-ab-initio, that is why they buy more confidently from e.g. the New York Stock Exchange from the under the counter psst psst wanna buy a stock guy in the raincoat in the alley a few blocks down the street...

Finding out what one had thought might be a serious business is actually just another guy in a raincoat selling any scam he thinks he might be able to make a buck on is unpleasant.

-MarkM-

EDIT: Oh gosh it turns out its yet another scrypt-coin, so it's difficulty and hashpower are actually better than some of the ones already on Vircurex. So maybe it is not afterall the one most in need of de-listing. But even if there were only 3 scrypt-coins that cannot be merged mined together at least one of them would mathematically have to have less than 50% of the hash-power and even if only two existed the only way to prevent one of them having les than half the hash power would be to exactly maintain their hash power at exactly precisely half the hashpower each, and even if you could accomplish that it'd just mean both are right on the borderline, horribly vulnerable. So having it turn out to be non merged mined scrypt isn't maybe myuch better than having it turn out to be a SHA256 coin whose hashpower is way down in the range some scrypt coins have been known to achieve... Maybe they added it in preparation to dropping one or more of the other scrypt coins that have a lower hashpower than it does?