Bitcoin Forum
December 18, 2017, 11:29:34 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Many exchanges will fail before this end of year  (Read 574 times)
NewbCoins
Full Member
***
Offline Offline

Activity: 140


View Profile
September 17, 2017, 01:29:13 AM
 #1

Hello citizens of bitcointalk,

This year there have been many rumors and news articles about Chinese exchanges, also Poloniex exchange, they may be insolvent. The exchanges steal the customer funds and gamble it in the market. The exchanges lose the customer money and cannot pay back. Lots of articles here and here:

https://cointelegraph.com/news/rumors-of-insolvency-circulate-among-users-of-bitcoin-exchange-poloniex-support-slow
https://steemit.com/chinese/@raogf/chinese-bitcoin-exchanges-accused-of-misappropriating-client-funds

(just some example)

I'm worried many exchange they would fail this year. I think cold wallet is more safe now if you unsure. Everyone be careful this time.
1513596574
Hero Member
*
Offline Offline

Posts: 1513596574

View Profile Personal Message (Offline)

Ignore
1513596574
Reply with quote  #2

1513596574
Report to moderator
1513596574
Hero Member
*
Offline Offline

Posts: 1513596574

View Profile Personal Message (Offline)

Ignore
1513596574
Reply with quote  #2

1513596574
Report to moderator
1513596574
Hero Member
*
Offline Offline

Posts: 1513596574

View Profile Personal Message (Offline)

Ignore
1513596574
Reply with quote  #2

1513596574
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513596574
Hero Member
*
Offline Offline

Posts: 1513596574

View Profile Personal Message (Offline)

Ignore
1513596574
Reply with quote  #2

1513596574
Report to moderator
1513596574
Hero Member
*
Offline Offline

Posts: 1513596574

View Profile Personal Message (Offline)

Ignore
1513596574
Reply with quote  #2

1513596574
Report to moderator
simrac
Full Member
***
Offline Offline

Activity: 168


View Profile
September 17, 2017, 02:03:18 AM
 #2

Hello citizens of bitcointalk,

This year there have been many rumors and news articles about Chinese exchanges, also Poloniex exchange, they may be insolvent. The exchanges steal the customer funds and gamble it in the market. The exchanges lose the customer money and cannot pay back. Lots of articles here and here:

https://cointelegraph.com/news/rumors-of-insolvency-circulate-among-users-of-bitcoin-exchange-poloniex-support-slow
https://steemit.com/chinese/@raogf/chinese-bitcoin-exchanges-accused-of-misappropriating-client-funds

(just some example)

I'm worried many exchange they would fail this year. I think cold wallet is more safe now if you unsure. Everyone be careful this time.
Thank you for alert .

I think  China exchanges will be closed in  end of this September .

Investors have plan change their coins to other exchange ,i think i will  withdrawal all to my desktop wallet ,

I worry  coin's price because  it is so cheap,

bbc.reporter
Hero Member
*****
Offline Offline

Activity: 588



View Profile
September 17, 2017, 02:15:04 AM
 #3

We are not perturbed by that news anymore. We already know they are out of the game. I am more worried about what the Americans and the other European countries might do.

Are there any news or rumors on how they are reacting on all the bitcoin exchange closures in China?

WARlrus
Member
**
Offline Offline

Activity: 76


View Profile
September 17, 2017, 02:59:18 AM
 #4

no they just close exchange to make some verify. When they have accept from gov they will open again/. That is the thing C Lee confirm

[ CENTRA ] Multi-Blockchain Worldwide Debit Card & Insured Wallet
▞▬▬▬▞▬▬▬▞▬▬▬▞▬▬▬▞▬▬▬▞▬▬▬▚▬▬▬▚▬▬▬▚▬▬▬▚▬▬▬▚▬▬▬▚
FacebookSlackTwitter ‣ GithubMediumANN Thread
senin
Full Member
***
Offline Offline

Activity: 182



View Profile
September 17, 2017, 03:28:59 AM
 #5

Indeed, first of all, one of the three largest crypto-currency exchanges in China - BTCChina stated that according to the instructions of the government, it stops work on exchanging bitcoin for fiat for its citizens since September 30, and the same two others claimed it. However, China's plans are not to stop the activity of exchanges for the purchase and sale of crypto currency. These restrictions are temporary, until the development of new rules to protect citizens and investors from possible fraud. Therefore, to claim that the Chinese currency exchange will die before the end of the year is a distortion of information and an increase in unnecessary and harmful panic.

NewbCoins
Full Member
***
Offline Offline

Activity: 140


View Profile
September 17, 2017, 03:42:50 AM
 #6

Indeed, first of all, one of the three largest crypto-currency exchanges in China - BTCChina stated that according to the instructions of the government, it stops work on exchanging bitcoin for fiat for its citizens since September 30, and the same two others claimed it. However, China's plans are not to stop the activity of exchanges for the purchase and sale of crypto currency. These restrictions are temporary, until the development of new rules to protect citizens and investors from possible fraud. Therefore, to claim that the Chinese currency exchange will die before the end of the year is a distortion of information and an increase in unnecessary and harmful panic.

its not true. but trade at your own risk

OKCoin and Huobi don't have the money to pay back the customers right now. because they gamble it in the market. that's why they not close same time as other exchanges.

bitcoin and altcoin price will go up later. but first, its necessary for criminal elements to be weed out
NewbCoins
Full Member
***
Offline Offline

Activity: 140


View Profile
September 17, 2017, 03:47:26 AM
 #7

also. why you think xinhua print news article accuse okcoin and huobi of use customer fund on gamble. now government will not allow any more deposits on those exchange. but keep the exchange open.

the only reason must be okcoin and huobi they are insolvent
Tipstar
Full Member
***
Offline Offline

Activity: 210


View Profile
September 17, 2017, 03:52:13 AM
 #8

Exchanges never fail because they are always in profit.
It's individual problem with China only exchange (not even all).

▂▂▃▃  TRADE CRYPTOCURRENCIES | INDEXES | FUNDS ▃▃▂▂
●▬●▬●▬●▬●▬●▬●▬●▬●▬●▬●▬● BITOTAL.COM ●▬●▬●▬●▬●▬●▬●▬●▬●▬●▬●▬●
░▒▓█ DEPOSIT BONUS | 0% TRADE FEES | WIDE COIN OFFER | EXCLUSIVE ICO'S █▓▒░
NewbCoins
Full Member
***
Offline Offline

Activity: 140


View Profile
September 17, 2017, 03:59:13 AM
 #9

Exchanges never fail because they are always in profit.

not the exchange who take the customer funds and invest it in risk securities. they lose all the money on bad investment and the customer money is gone.

this is the problem right now with many crypto exchange.
rivoke
Legendary
*
Offline Offline

Activity: 921


★ Any store can buy, sell, and accept Crypto


View Profile
September 17, 2017, 04:05:16 AM
 #10

Exchanges never fail because they are always in profit.
It's individual problem with China only exchange (not even all).

Chinese have their problem with their own government so it not affect on global exchanger so that's right , Chinese ICO ban issue will not effect with other exchanger instead they will got better than before.
Just keep your coin stay still

███████████████████████████████████████████████████████████████████▀███▀████
████████████████████████████████████████████████████████████████████▄▀▄█████
███████████████████████████████████████████████████████████████████▀▄█▄▀████

███▀▀▀▀▀▀▀▀██████▀▀▀████████▀▀▀██▀▀▀███████████▀▀▀██▀▀▀▀▀▀▀▀████████▀▀▀█████
███          ▀███   ████████   ██    ▀█████████   ██           ▀████   █████
███   █████▄   ██   ████████   ██      ▀███████   ██   ██████▄   ███   █████
███   ██████   ██   ████████   ██   █▄   ▀█████   ██   ████████   ██   █████
███   █████▀   ██   ████████   ██   ███▄   ▀███   ██   ████████   ██   █████
███          ▄███   ▀██████▀   ██   █████▄   ▀█   ██   ███████▀   ██   █████
███   ▄▄▄▄▄███████   ▀▀▀▀▀▀   ███   ███████▄      ██   ▀▀▀▀▀▀   ▄███   █████
███   █████████████▄        ▄████   █████████▄    ██        ▄▄▄█████   █████
████████████████████████████████████████████████████████████████████████████
████████████████████████████████████████████████████████████████████████████
██
██
██
██
██
██
██
██
██
██
██
██
██
.Any Store Can Buy, Sell and Accept Cryptocurrency.██
██
██
██
██
██
██
██
██
██
██
██
██
[[[ Whitepaper    Twitter     Facebook]]]
[[[  Telegram      Medium     Youtube ]]]
James_CanYa
Jr. Member
*
Offline Offline

Activity: 45


View Profile
September 17, 2017, 04:20:58 AM
 #11

I think a number of exchanges will fail every year. If they're be created at speed they'll fail at speed - All the more reason to be using a decentralised exchange!
pawanjain
Sr. Member
****
Offline Offline

Activity: 434



View Profile
September 17, 2017, 04:32:33 AM
 #12

Well we don't really know what's gonna happen in future and so telling that most exchanges will fail is merely just a prediction based on current events. Things like these keep happening in the crypto market. We have to make tough decisions for the betterment of the future. Bans made on ICOs and exchanges are temporary so that they can come out with better solutions and prevent scamming. The crypto market may go down for a while but we know that it will rise up sooner or later and we should just hold on for a while until the success towards the cryptos begins.

Ehrhc
Full Member
***
Online Online

Activity: 140



View Profile
September 17, 2017, 04:41:41 AM
 #13

I do believe you are right, but its the market, some will stay, some will fall!

But I wouldn't say this year! We are still on grow...Give it until market slow down! 6-12 months! maybe more!

But if authorizes jump in to check on all these exchanges, yes you will see many closing due to lack of transparency, and funds disappearing!

..C..
.....................
........Finally C is .........
..............
...........            ............
       ............            ............
...................      ....................

Dlugina23
Sr. Member
****
Offline Offline

Activity: 336


View Profile
September 17, 2017, 04:58:39 AM
 #14

Polo is not the chinese exchange,cant be closed.

    [    ] 
  POW/POS
  ANONIMITY
TRANSACTIONS
  SECURITY
 
   
STEEP
& CHEAP
steepcoinproject@gmail.com
tyuner4
Full Member
***
Offline Offline

Activity: 140


“Everyone Is A Bank”


View Profile
September 17, 2017, 07:20:26 AM
 #15

Thank you for the information. While the china exchanges close down, i believe there will be other exchanges opening.

As for poloniex, don't store your coins in the exchanges and you are safe.

                 BABB        |[     BANK ACCOUNT BASED BLOCKCHAIN     ]|       Everyone is a bank
▬                       JOIN TOKEN SALE                       ▬
▬▬▬▬▬     JOIN THE COMMUNITY    |    Telegram     ▬▬▬▬▬
AlexaSonda
Full Member
***
Offline Offline

Activity: 168



View Profile
September 17, 2017, 07:50:39 AM
 #16

these few weeks many people panicked at hearing about China's regulation prohibiting ico, also closing some big chinese exchanger and also exacerbated statement by jp morgan.
all of the above factors are very influential on the world of crypto, but I'm sure this is only temporary and the situation will get better. soon crypto will fly high towards the moon leaving its enemy.

just like the law of the jungle, the strong will survive.

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
  TRADE.IO       ║     WHITEPAPER  •  ANN THREAD  •  TELEGRAM     ║     JOIN THE TRADING REVOLUTION
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
intrader
Hero Member
*****
Offline Offline

Activity: 620



View Profile
September 17, 2017, 07:54:29 AM
 #17

these few weeks many people panicked at hearing about China's regulation prohibiting ico, also closing some big chinese exchanger and also exacerbated statement by jp morgan.
all of the above factors are very influential on the world of crypto, but I'm sure this is only temporary and the situation will get better. soon crypto will fly high towards the moon leaving its enemy.

just like the law of the jungle, the strong will survive.
The both you meantioned above is real scammers actually they are eager to have btc




▄▄▄                                          ███                ▄▄▄     ███
███                                          ███               ▐███▌    ███
███                                          ███                ▀▀▀     ███
███        ▄███████▄   ▐███▄█████▄     ▄▄███████ ▄▄███████▄▄    ███   ███████▄
███       ████▀  ████  ▐████▀▀████▌   ████▀▀██▀▄████▀▀▀▀▀███▌   ███   ▀▀███▀▀▀
███      ▐████▄▄▄████  ▐███    ███▌  ████    ▄████▀▄█▌   ▐███   ███     ███
███      ▐███▀▀▀▀▀▀▀▀  ▐███    ███▌  ███▌   ████▀▄███▀   ▐███   ███     ███
███       ████▄    ▄▄  ▐███    ███▌  ████▄   ▄█████▀▄█   ████   ███     ███▄ ▄▄
▀████████  ▀████████▀  ▐███    ███▌   █████████▀▀  ████████▀    ███     ▀█████▀

ALL YOU NEED IS LOAN





















           ▄▄██████▄▄
       ▄▄██████████████▄▄
    ▄▄████████████████████▄▄
 ▄████████████████████████████▄
████████████▌  █████████████████
████████████▌  █████████████████
███████▀▀      ███▀      ▀██████
██████   ▄██▄▄▀▀  ▄▄▄██▄   █████
█████▌  ████    ▄▀  ████   █████
█████▌  ▐███▄▄▀▀  ▄▄████   █████
██████   ▀▀▀   ▄▄█▀  ▀▀   ▄█████
████████▄▄▄▄███████▄▄▄▄▄████████
▀██████████████████████████████▀
   ▀▀███████████████████████▀▀
      ▀▀████████████████▀▀
          ▀▀▀██████▀▀▀
ineedlicense
Newbie
*
Offline Offline

Activity: 27


View Profile
September 17, 2017, 09:25:26 AM
 #18

Hello citizens of bitcointalk,

This year there have been many rumors and news articles about Chinese exchanges, also Poloniex exchange, they may be insolvent. The exchanges steal the customer funds and gamble it in the market. The exchanges lose the customer money and cannot pay back. Lots of articles here and here:

https://cointelegraph.com/news/rumors-of-insolvency-circulate-among-users-of-bitcoin-exchange-poloniex-support-slow
https://steemit.com/chinese/@raogf/chinese-bitcoin-exchanges-accused-of-misappropriating-client-funds

(just some example)

I'm worried many exchange they would fail this year. I think cold wallet is more safe now if you unsure. Everyone be careful this time.

Decentralized exchanges are the future. This is why I invested in the 0x protocol. ZRX is very undervalued as it is.
johnsm79
Full Member
***
Online Online

Activity: 168


trade.io - Join the Trading Revolution


View Profile WWW
September 17, 2017, 10:22:20 AM
 #19

Ok an exchange could close, but not all and certainly not by the end of the year.. Why end of this year.. what is so important..?

On other hand holders should not keep their funds on an exchange.. so it goes both ways..

But I would not loose trust in every single exchange.


▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
  TRADE.IO       ║     WHITEPAPER  •  ANN THREAD  •  TELEGRAM     ║     JOIN THE TRADING REVOLUTION
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
NewbCoins
Full Member
***
Offline Offline

Activity: 140


View Profile
September 18, 2017, 12:03:32 PM
 #20

more warning from china: https://qz.com/1079908/huobi-and-okcoin-chinas-two-biggest-bitcoin-exchanges-will-halt-all-trading-services-for-local-customers/

OKcoin and Huobi lie on Friday. they change their story on Saturday.

it must be clear they not act voluntary with authorities. leaders they are also under travel ban.

i think soon, they may be arrest for stealing the customer money.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!