Bitcoin exchanges (cryptsy in particular)

[MyBTT]

When these bitcoin exchanges freeze withdrawals for long periods of time how do we know they aren't doing this for profit? For example cryptsy right now has withdrawals pending for over two weeks so do to the scare the price of alts have shot up on the marketplace because people are trying to withdraw.

They are blatant scams that steals bitcoins. That shouldn't be called profit.

[Kepler510]

Cryptsy is now a scam. and maybe you should move on about your coin.


And start with a coin in the other.

[andrewboy44]

People please stop posting that cryptsy is a scam and suggesting what I should do in the future to not lose coins. I didn't post this for help over the lost coins! I posted this to suggest a possible unmoral technique cryptsy might be using to pump and dump coins on their market. If they're doing what I think they're doing they are having a success rate of basically 100%.

[Amph]

People please stop posting that cryptsy is a scam and suggesting what I should do in the future to not lose coins. I didn't post this for help over the lost coins! I posted this to suggest a possible unmoral technique cryptsy might be using to pump and dump coins on their market. If they're doing what I think they're doing they are having a success rate of basically 100%.

well they indeed appear to be scammer now, i dunno why they are dojg what they are doing

but this https://bitcointalk.org/index.php?topic=1292355.msg13275094#msg13275094 remind me that they are not trustworthy anymore

[Blawpaw]

When these bitcoin exchanges freeze withdrawals for long periods of time how do we know they aren't doing this for profit? For example cryptsy right now has withdrawals pending for over two weeks so do to the scare the price of alts have shot up on the marketplace because people are trying to withdraw.

I don't think they are playing a good strategy. Once they start to halt withdraws people start to panic and try to get their coins. this causes even more difficulties for the exchange to satisfy the customers requests

[randy8777]

altcoin exchanges don't need to scare people. they are earning big money from pos coins that they have in their cold wallets from all their users. they can simply dump the staked coins and get the money. it's easy and free profit.

[andrewboy44]

When these bitcoin exchanges freeze withdrawals for long periods of time how do we know they aren't doing this for profit? For example cryptsy right now has withdrawals pending for over two weeks so do to the scare the price of alts have shot up on the marketplace because people are trying to withdraw.

I don't think they are playing a good strategy. Once they start to halt withdraws people start to panic and try to get their coins. this causes even more difficulties for the exchange to satisfy the customers requests

I don't think they are worried about satisfying us. If they can stock pile alt coins, freeze wallets, then be the only ones that can withdraw btc they make bank because people will pay for overpriced alt coins.

[bctmke]

Surprisingly overnight I got a reply to them from a query I sent ages ago.  Their peercoin wallet was non-functional.  Conveniently it has been restored.

[bhokor]

altcoin exchanges don't need to scare people. they are earning big money from pos coins that they have in their cold wallets from all their users. they can simply dump the staked coins and get the money. it's easy and free profit.

It is sad but true and really it is killing slowly a lot of coins, the fair would be the exchanges pay the stake to the coin owners and they take only a fee of it, not the whole like actually

[ultimatesky]

Cryptsy did got some bashing but all the withdrawals did came true right.

The amount of topics here is crazy. This guy Big Vern is a public figure, will he risk all that?

[nwfella]

Definitely don't recommend keeping anything but dust in cryptsy wallets right now.  Though I've been using them for quite sometime I can't ever remember a time where things have been as bad as they have been this past month and a half.

[Pollak]

The moment exchanges hold your funds, stop using them and inform other users.
Exchanges losing customers run scared and they will adjust their policy, if not they will go broke eventually.

[avw1982]

When these bitcoin exchanges freeze withdrawals for long periods of time how do we know they aren't doing this for profit? For example cryptsy right now has withdrawals pending for over two weeks so do to the scare the price of alts have shot up on the marketplace because people are trying to withdraw.

They are blatant scams that steals bitcoins. That shouldn't be called profit.

When I checking cryptsy.com we looked at many factors, such as the ownership details, location, popularity and other sites relating to reviews, threats, phishing etc. Although a site like may have a high trust rating, it's worth just checking the countries involved as these could indicate that goods would be shipped from abroad rather than your home country