The owners of the major exchanges are scammers?

[jolie]

Concealcoin is 100% scam.

How does Cryptsy add a coin so quick, when other coins have paid votes plus regular votes and haven't been added on. My guess is that one of their cronies created the coin, with a short PoW to create panic and hype and a rush on the exchanges to trade the coin.

Then Bittrex/Polo hop on the scam train and list this giant turd.

24HR PoW + Whitepaper scam = hype and huge exchange trading volume. Plain and simple.

These exchanges need to be careful. I know Bittrex and Cryptsy are US Based so if they are complicit to this scam then they can be shut down.  

People are asking why the dev would scam if they didn't premine. Well, they don't need to premine if the scammer owns an exchange and makes money from the fees.

Quoted for truthiness

[jeffersonairplane]

Nothing much we can do about it as far as altcoins go, exchanges like Bittrex and Poloniex dominate the market. Just ride the waves and hopefully it doesn't crash while you're still on the  boat

Just one reason not to keep too much of your BTC on any exchange. When C-Cex went down a few weeks ago I was so sure i was gonna get gox'd out of my Minerals.

[bounst]

chinese is coming!


China Exchanges, like LakeBTC, HUOBI etc, will come to global market soon.

[xandrino]

yes they are. coz they have the power to do so. and coz nobody holds them accountable to their actions.

for this reason, careful of riding along pumps and dumps

[EmilioMann]

Scam Alert. Fake exchange: https://bitcointalk.org/index.php?topic=702513.0

[BitJohn]

My opinion I think some exchanges are behind and work closely with coin developers with money changing hands. I can say that we do not engage in that practice. Most of our dealings with devs are involving Forks updates etc.

[Kprawn]

There are a few technologies being developed to keep them honest {Smart contracts} And also making them more transparent. With MtGox and some more failures on exchange levels, a lot of the spotlight was shine on them. 

You will also see regulators putting a lot of pressure on them, to be honest one of these days. And this is not only a problem with crypto currencies, it happens with fiat exchanges every year too. 

MtGox will not be the last, we see of scammers at exchange levels.

[MisO69]

Yes of course they are scamming. They collude with scam coins and are probably responsible for some of them. The coins that get listed immediately on the major exchanges are likely their own creation. If anyone here thinks that the authorities are not watching and collecting data are burying their heads in the sand.

[AliceWonder]

This is why it is best to use an exchange in your country that is registered with the appropriate financial institution in your country - like CampBX is with FinCEN.

But those exchanges don't have a lot of altcoins if any.

But you don't have to use an exchange to buy altcoins, you can buy them using an escrow :

A) You and seller agree on escrow agent with good rep
B) You send coins to escrow (or do multisig)
C) When confirmed in blockchain, you send address for altcoin to escrow agent and seller
D) seller sends coins to address
E) when specified coins to that address, escrow releases BTC to seller

That way your BTC is never in the hands of an exchange and you won't get gox'd.

You can't play day trader that way, but to be honest, all these people playing day trader help the pump and are what makes the altcoin scams profitable.

[nutildah]

Mintpal sure was.... For all their haters, you gotta give it up to Cryptsy and Poloniex for staying up there. Sure, they probably run on fractional reserve banking, but unless there is a huge run on multiple coins at the same time, I doubt this will be a problem for them.

[Zombier0]

What about yobit?

[nutildah]

How do you guys feel about bter? They've done things to both increase and decrease their credibility. But they're still there, despite the various hacks & so forth.

[BitcoinEXpress]

I guess this puts to rest people accusing Cryptsy of taking bribes.

~BCX~

[unusualfacts30]

Yes.

2016 will be end of shitcoins and some of these exchanges will become regulated or eliminated and owner will end up behind the bars for being part of ponzi schemes.

Also, if you aren't reporting these exchanges eventhough you know they're scam you're part of the problem. Take some responsibility ffs and stop playing victim.

Save this post.

[MR1]

Note: I just posted this for lulz. I do not really care about topic.

LOL Karpeles is undoubtedly one of the most sophisticated scammers of all times. 

[tyz]

All centralized exchange could be a scamming site. That's why you should trade only on decentralized exchange like the Nxt Asset Exchange or on Counterparty.

[sirslayer]

No, not any more as scammers and the trend is more towards pioneering that includes providing set of "good" coins to the consumer and at turn creating competition to ignite a market (exchange)..  Im kinda looking forward to see other alt coins try to out do bitcoin...