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Author Topic: Abort Cryptsy  (Read 14308 times)
barwizi
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May 24, 2013, 08:30:18 PM
 #1

I have watched the progress of this new "exchange", in short, alt coin miners are getting duped and they are falling for it. Have you looked at the standing buy orders for every new coin? they are all the same price asking for similar amounts. That site is rigged to make sure alt coins fail by devaluing them. We are the suppliers, ergo we have a say in the price, i motion we drop that site off the forum completely and ignore them until they get serious, my word, in 3 days they killed 6 alt coins that actually were gaining a following.
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MaGNeT
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May 24, 2013, 08:33:47 PM
 #2

No altcoin was killed, only value dropped.

Unofficial Waves topic: https://bitcointalk.org/index.php?topic=2142722   |   My Waves address alias = magnet
zacho56
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May 24, 2013, 08:34:01 PM
 #3

I have watched the progress of this new "exchange", in short, alt coin miners are getting duped and they are falling for it. Have you looked at the standing buy orders for every new coin? they are all the same price asking for similar amounts. That site is rigged to make sure alt coins fail by devaluing them. We are the suppliers, ergo we have a say in the price, i motion we drop that site off the forum completely and ignore them until they get serious, my word, in 3 days they killed 6 alt coins that actually were gaining a following.

I did find it quite odd that the exchange is moving at such a small rate. Meh, ill stick to mcxnow anyways    Undecided

"I have a dream" - Martin Luther King JR
YaCoinYeah
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May 24, 2013, 08:34:40 PM
 #4

ABORT CRYPTSY! No buy volume = panic selling to the bottom for miners and holders thinking no one wants to buy.
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May 24, 2013, 08:35:47 PM
 #5

The problem is:


MARKETS / LAST TRADE
BQC/BTC
0.00004900
BTB/BTC
0.29000000
CNC/BTC
0.00010000
DGC/BTC
0.00030000
ELC/BTC
0.00055001
FTC/BTC
0.00101002
GLD/BTC
0.00000999
JKC/BTC
0.00000900
LTC/BTC
0.02475000
MNC/BTC
0.00085000
NMC/BTC
0.00000000
NVC/BTC
0.03200000
PHX/BTC
0.00000000
PPC/BTC
0.00150000
PWC/BTC
0.00002010
RYC/BTC
0.00001100
TRC/BTC
0.00300010
WDC/BTC
0.00025010
YAC/BTC
0.00039900

Too many coins... Can spend my BTC only once...

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YaCoinYeah
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May 24, 2013, 08:37:13 PM
 #6

The exchange is trash. Saturated with alts trying to dump.
relm9
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May 24, 2013, 08:38:18 PM
 #7

No altcoin was killed, only value dropped.

This. The only thing about Cryptsy  is it's been adding new alts faster than other exchanges, so these new coins have even less time to build up interest before they get pumped and dumped on an exchange. Thus, the downward spiral just starts up quicker. That's not a fault of the site though. It's a free market - if these coins can't withstand that then too bad.

Long-term, if the coin has actual merit, it will survive.
diegodos
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May 24, 2013, 08:40:09 PM
 #8

The exchange is trash. Saturated with alts trying to dump.


i said ...


Doest have volume there

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STACK









1
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limbaugh
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May 24, 2013, 08:41:28 PM
 #9

I have watched the progress of this new "exchange", in short, alt coin miners are getting duped and they are falling for it. Have you looked at the standing buy orders for every new coin? they are all the same price asking for similar amounts. That site is rigged to make sure alt coins fail by devaluing them. We are the suppliers, ergo we have a say in the price, i motion we drop that site off the forum completely and ignore them until they get serious, my word, in 3 days they killed 6 alt coins that actually were gaining a following.

I'm calling BS on this. Big Vern is probably one of the largest supporters of ALT coins with a large number of pools and an exchange. There are too many coins for this community to support them all. It's not Cryptsy's fault and is actually a nice exchange.
sal002
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May 24, 2013, 08:45:28 PM
 #10

Many currencies have an issue, but some still find a degree of stability even after listed on Cryptsy.com (like Digitalcoin).  Really what we have is a hyper exposure to the new currencies that don't really have a good foundation to begin with and therefore they die off - in this day of at least three new alt currencies per day, maybe the "invisible hand" isn't such a bad thing.
barwizi
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May 24, 2013, 08:45:57 PM
 #11

I've never seen such a blind gang, have you noticed that most of the anti-alt coin rhetoric has disappeared? And then somehow, a record breaking alt-killer adds coins on a daily basis? real sites wait and watch to see a coins future, eg btc-e and gox, even bter is more cautious after the cnc fiasco. You guys maybe mine a coin worth something today, then tumar you guys are trading at an average of 30 ltc per 1k, then jus because the "official " site says 1 ltc per 100000, you all folow their lead. You are letting yourselves be convinced that your product is worthless, but wait and see in a month, they will sell you your coins at current docs prices or higher. it's your loss anyway, this is a community of open ideas, try yours, i'll work with mine. Sound mnd, sound decisions, RESOUNDING profits.

Hanzi Big Vern, who is big vern to value your product? So what if the man has pools? are all his pools free? NO! everyone wants to profit and pay the bills. Once you realise tz a dog eat cat world, you'll be more canine.
barwizi
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May 24, 2013, 08:51:55 PM
 #12

I have watched the progress of this new "exchange", in short, alt coin miners are getting duped and they are falling for it. Have you looked at the standing buy orders for every new coin? they are all the same price asking for similar amounts. That site is rigged to make sure alt coins fail by devaluing them. We are the suppliers, ergo we have a say in the price, i motion we drop that site off the forum completely and ignore them until they get serious, my word, in 3 days they killed 6 alt coins that actually were gaining a following.

I'm calling BS on this. Big Vern is probably one of the largest supporters of ALT coins with a large number of pools and an exchange. There are too many coins for this community to support them all. It's not Cryptsy's fault and is actually a nice exchange.

This ^^ if i charge you 3% of everything you mine, you and a thousand other people, i would never need to mine again. Let alone when i have an exchange. The buy orders are bogus, and to prove a point, once my btc gets confirmed, i'm going to help rob people blind today.
limbaugh
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May 24, 2013, 08:56:40 PM
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This ^^ if i charge you 3% of everything you mine, you and a thousand other people, i would never need to mine again. Let alone when i have an exchange. The buy orders are bogus, and to prove a point, once my btc gets confirmed, i'm going to help rob people blind today.

You don't know what the heck you are talking about. All of his pools are donation driven - that's a 0% fee if you didn't understand.
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May 24, 2013, 08:59:47 PM
 #14

Plus running a pool is not a cakewalk. Sure it's easy to set one up but with the way pools get DDoSed here upkeep and mitigation is costly. If you think pool ops are raking in the $$$$ you are wrong, maybe a few big ones are like BTCGuild but it took them years to get there.
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May 24, 2013, 09:00:17 PM
 #15

You argue that Cryptsy is setup to make alt-coins fail by devaluing them. But it's run by someone who runs a ton of alt-coin pools. Where's the benefit?

Big Vern stands to gain by successful alt-coins. That means more people mining, more profit from pools (even though it's donation-only), higher trade-values and volumes from successful coins on the exchange will net higher fees. Everything is set up in such a way that Big Vern benefits from strong alt-coins. So why would his exchange be set up to make them fail?
barwizi
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May 24, 2013, 09:01:39 PM
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This ^^ if i charge you 3% of everything you mine, you and a thousand other people, i would never need to mine again. Let alone when i have an exchange. The buy orders are bogus, and to prove a point, once my btc gets confirmed, i'm going to help rob people blind today.

You don't know what the heck you are talking about. All of his pools are donation driven - that's a 0% fee if you didn't understand.

please open the transaction history on any of the websites you mine on, you'll fid that even if you specify 0% donation and the pool is free, deductions are still made. get your ducks in a row man.
barwizi
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May 24, 2013, 09:02:38 PM
 #17

You argue that Cryptsy is setup to make alt-coins fail by devaluing them. But it's run by someone who runs a ton of alt-coin pools. Where's the benefit?

Big Vern stands to gain by successful alt-coins. That means more people mining, more profit from pools (even though it's donation-only), higher trade-values and volumes from successful coins on the exchange will net higher fees. Everything is set up in such a way that Big Vern benefits from strong alt-coins. So why would his exchange be set up to make them fail?

the hand that feeds can also be the hand that punishes
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May 24, 2013, 09:06:11 PM
 #18

I have watched the progress of this new "exchange", in short, alt coin miners are getting duped and they are falling for it. Have you looked at the standing buy orders for every new coin? they are all the same price asking for similar amounts. That site is rigged to make sure alt coins fail by devaluing them. We are the suppliers, ergo we have a say in the price, i motion we drop that site off the forum completely and ignore them until they get serious, my word, in 3 days they killed 6 alt coins that actually were gaining a following.

Let's face it. We don't like Cryptsy because make us to Dump to soon.

If you're really worried DDoS them. Or we can collect bounties so they don't put the coin into the exchange.
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May 24, 2013, 09:08:15 PM
 #19

The market dictated the value of the coins. Vern simply instituted the mechanism for trading said coins. All the coins added since launch were due to petitioning by miners and/or coin developers and supporters. During beta there wasn't a single coin on the exchange that he didn't have a pool for. A free pool mind you. Of course bag holders are going to be upset when their coin-of-the-week gets massively devalued, penny stock holders probably feel the same way when their investments fall through. The market is decided by... the market. And as stated earlier, if a coin has merit it will survive. Of course, it's always easy to find fault when you look hard enough.

Cryptsy.com - USD markets coming soon. Go validate your account now!
barwizi
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May 24, 2013, 09:08:22 PM
 #20

I have watched the progress of this new "exchange", in short, alt coin miners are getting duped and they are falling for it. Have you looked at the standing buy orders for every new coin? they are all the same price asking for similar amounts. That site is rigged to make sure alt coins fail by devaluing them. We are the suppliers, ergo we have a say in the price, i motion we drop that site off the forum completely and ignore them until they get serious, my word, in 3 days they killed 6 alt coins that actually were gaining a following.

Let's face it. We don't like Cryptsy because make us to Dump to soon.

If you're really worried DDoS them. Or we can collect bounties so they don't put the coin into the exchange.

true, ddos huh?
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