Altcoins are dead ? FinCEN investigation!

[david1365]

Last days i heard about FinCEN investigation... so what will happen to altcoins world?
Are exchanges like bittrex or cyptsy in danger of closing? or what? should we be concerned with this situation?
Please discussion about it.

[Snail2]

Nothing will happen. Even if Cryptsy and Bittrex goes down (what is quite unlikely) there are still many option outside FinCEN's reach. There is whole wide and financially relative free world outside of the US .

[david1365]

Nothing will happen. Even if Cryptsy and Bittrex goes down (what is quite unlikely) there are still many option outside FinCEN's reach. There is whole wide and financially relative free world outside of the US .

But bittrex and cryptsy are two major exchanges right now, so what will happen if they goes down? alternative exchanges? there will not major and high volume exchanges after trex or cryptsy.

[aleix]

Nothing will happen. Even if Cryptsy and Bittrex goes down (what is quite unlikely) there are still many option outside FinCEN's reach. There is whole wide and financially relative free world outside of the US .

But bittrex and cryptsy are two major exchanges right now, so what will happen if they goes down? alternative exchanges? there will not major and high volume exchanges after trex or cryptsy.

In the long run, an intervention of FinCen would be good for crypto. It would force the ecosystem to create and use p2p exchanges, anonymity and other good features. 

[david1365]

Nothing will happen. Even if Cryptsy and Bittrex goes down (what is quite unlikely) there are still many option outside FinCEN's reach. There is whole wide and financially relative free world outside of the US .

But bittrex and cryptsy are two major exchanges right now, so what will happen if they goes down? alternative exchanges? there will not major and high volume exchanges after trex or cryptsy.

In the long run, an intervention of FinCen would be good for crypto. It would force the ecosystem to create and use p2p exchanges, anonymity and other good features. 

I hope so...

[Snail2]

But bittrex and cryptsy are two major exchanges right now, so what will happen if they goes down? alternative exchanges? there will not major and high volume exchanges after trex or cryptsy.

Major exchanges...and then what? Once upon a time there was a major exchange called MtGox... and quite lot more . I think we could do quite well with distributed exchanges only. Moreover I think distributed exchanges are the natural way for the evolution of crypto economy.

[sdmathis]

Nothing will happen. Even if Cryptsy and Bittrex goes down (what is quite unlikely) there are still many option outside FinCEN's reach. There is whole wide and financially relative free world outside of the US .

But bittrex and cryptsy are two major exchanges right now, so what will happen if they goes down? alternative exchanges? there will not major and high volume exchanges after trex or cryptsy.

So was MtGox, but trading continued after it went under.

I doubt that Bittrex will have any immediate problems. Cryptsy on the other hand, deals in fiat and are more vulnerable. They are working on becoming compliant, but from what I understand, are only compliant on the federal level. They are still noncompliant in most states.

[Daedelus]

But bittrex and cryptsy are two major exchanges right now, so what will happen if they goes down? alternative exchanges? there will not major and high volume exchanges after trex or cryptsy.

Major exchanges...and then what? Once upon a time there was a major exchange called MtGox... and quite lot more . I think we could do quite well with distributed exchanges only. Moreover I think distributed exchanges are the natural way for the evolution of crypto economy.

Re: distributed exchanges, have you tried Multigateway? multigateway.org, main exchange is for BTC right now but supports 5-6 others.

I don't think people will move from centralized options until they are forced to, i.e. by their absence

[MRKLYE]

I for one am sort of glad that FinCEN is cracking down on these shitty IPO coins to be honest.
FOr the most part their should never be a need for an IPO to launch your coin.

I honestly think this is a good thing and people may think twice about posting garbage IPO coins from now on.

[thebenjamincode]

Last days i heard about FinCEN investigation... so what will happen to altcoins world?
Are exchanges like bittrex or cyptsy in danger of closing? or what? should we be concerned with this situation?
Please discussion about it.

what does FinCEN mean? and how will the altcoin exchanges bittrex and cryptsy or all other exchanges will be in danger of closing if they are from different countries and far from each other? i think it will be hard to close them all

[inigthz]

Just call poloniex. The UI design is so great.

[CryptoClub]

FinCEN is basically useless since exchanges can just be located or move out of their jurisdiction. Fiat exchange can still be regulated, but it is impossible for them to regulate pure crypto trades. The White House just got a moderate Bitcoin advisor, and Nasdaq is going to use the blockchain. I see a more moderate future.

[rdnkjdi]

I for one am sort of glad that FinCEN is cracking down on these shitty IPO coins to be honest.
FOr the most part their should never be a need for an IPO to launch your coin.

I honestly think this is a good thing and people may think twice about posting garbage IPO coins from now on.

-415 trust?  What did YOU do?!  er, what do people claim you did ...

[Crestington]

I for one am sort of glad that FinCEN is cracking down on these shitty IPO coins to be honest.
FOr the most part their should never be a need for an IPO to launch your coin.

I honestly think this is a good thing and people may think twice about posting garbage IPO coins from now on.

-415 trust?  What did YOU do?!  er, what do people claim you did ...

Don't be lazy, just click on his trust rating.

[hack_]

FInCEn bites only that which it can reach. Which is the U.S only.

Exchange software has been open sourced, there is no reason why new exchanges from other parts of the world will not take over.

[adidas]

I for one am sort of glad that FinCEN is cracking down on these shitty IPO coins to be honest.
FOr the most part their should never be a need for an IPO to launch your coin.

I honestly think this is a good thing and people may think twice about posting garbage IPO coins from now on.

OMG
-415 trust.

How did you do that?  


Altcoins are not dead.
If BTC is alive it also means that alts are alive.

[d3former]

Big news gonna come from an alt soon its due.

[pc888]

Decentralised ones are safe and the untraceable are safer

[BTTrader]

FinCEN is basically useless since exchanges can just be located or move out of their jurisdiction. Fiat exchange can still be regulated, but it is impossible for them to regulate pure crypto trades. The White House just got a moderate Bitcoin advisor, and Nasdaq is going to use the blockchain. I see a more moderate future.

FinCEN is regulating bitcoin related business and won't kill them IMO. It enforces them comply with the anti money laundering law. It is good for their development. Bitcoin has more applications coming. It will attract ppl's attention and thrive!

[Undermood]

But bittrex and cryptsy are two major exchanges right now, so what will happen if they goes down? alternative exchanges? there will not major and high volume exchanges after trex or cryptsy.

Major exchanges...and then what? Once upon a time there was a major exchange called MtGox... and quite lot more . I think we could do quite well with distributed exchanges only. Moreover I think distributed exchanges are the natural way for the evolution of crypto economy.

Distributed exchanges are the future. There are a lot of scams and hacks happened at the centralized exchanges! Users are always picking up the exchanges to trade carefully! Once ppl have the option to choose the decentralized exchanges, I believe most of them will choose to trade there!