blumangroup
Sr. Member
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'Slow and steady wins the race'
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August 03, 2014, 07:34:32 AM |
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I haven't dealt much with the BTC exchanges so I don't know what data a user can actually see.
most exchanges offer information about the trade volume (and the trade volume for different time frames -> a day, a week, a month...) I would speculate that exchanges could potentially sell this kind of data to subscribers some time in the future in a similar manner that exchanges like the NYSE and nasdaq sell their exchange data. this could indeed be an additional stream of income for current/future exchanges. At least for the exchange bitfinex there is a large website dedicated to all kinds of data: bfxdata.com Who is behind this website? If it is anyone other then bitfinex then the operator is likely taking advantage of bitfinex data (currently free) to somehow profit.
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picolo
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August 09, 2014, 11:46:40 AM |
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Exchanges get a lot of fast and easy cash so this cash flow help them even if they mis manage or lose money but who knows if they have enough to pay back all balances?
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DannyElfman
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August 09, 2014, 02:39:00 PM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
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This spot for rent.
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JorgeStolfi
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August 09, 2014, 04:16:35 PM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
Yeah, it used to happen with bitcoin exchanges too, but bitcoiners cry too loudly whan that happens... ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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michaelwang33
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August 09, 2014, 04:39:50 PM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
I don't think this so much has to do with the profitability of the exchanges but rather the amount of coins stored on these types of exchanges. I think a lot of people like to trade altcoins in a "day trading" fashion and as a result keep their coins on the exchanges. This results there being more coins on the exchange then there really should be.
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DannyElfman
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August 09, 2014, 06:07:18 PM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
I don't think this so much has to do with the profitability of the exchanges but rather the amount of coins stored on these types of exchanges. I think a lot of people like to trade altcoins in a "day trading" fashion and as a result keep their coins on the exchanges. This results there being more coins on the exchange then there really should be. Still, even if only a 1/3 or so of the coins normally stored on an exchange would be there, they still would be "hacked" and it would still be profitable enough for those guys to run the "Long-cons".
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This spot for rent.
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leezay
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SWISSREALCOIN - FIRST REAL ESTATE CRYPTO TOKEN
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August 09, 2014, 11:02:53 PM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
The reason why most veteran users do not store coin on exchange. And there should be a no tolerance policy on "hacked" exchange.
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DannyElfman
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August 09, 2014, 11:05:19 PM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
The reason why most veteran users do not store coin on exchange. And there should be a no tolerance policy on "hacked" exchange. Right now there is more like a "No hassle" policy. If someone gets hacked, the reaction is: "Shit happens, lets move on". Do you guys remember inputs.io ?? NOTHING happend to the guy. And it was crystal clear that he stole those 4000 BTC + ~10000 BTC himself!
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This spot for rent.
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Mobius
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August 10, 2014, 12:17:52 AM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
I don't think this so much has to do with the profitability of the exchanges but rather the amount of coins stored on these types of exchanges. I think a lot of people like to trade altcoins in a "day trading" fashion and as a result keep their coins on the exchanges. This results there being more coins on the exchange then there really should be. Still, even if only a 1/3 or so of the coins normally stored on an exchange would be there, they still would be "hacked" and it would still be profitable enough for those guys to run the "Long-cons". Do you think the altcoin exchanges failing is merely the operators running away with the coins? I would doubt this as the exchange itself would likely have some level of value and could likely be sold for amounts greater then what would be stolen (less what it would take to disassociate the stolen coins - the mixer fees).
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DannyElfman
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August 10, 2014, 12:28:40 AM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
I don't think this so much has to do with the profitability of the exchanges but rather the amount of coins stored on these types of exchanges. I think a lot of people like to trade altcoins in a "day trading" fashion and as a result keep their coins on the exchanges. This results there being more coins on the exchange then there really should be. Still, even if only a 1/3 or so of the coins normally stored on an exchange would be there, they still would be "hacked" and it would still be profitable enough for those guys to run the "Long-cons". Do you think the altcoin exchanges failing is merely the operators running away with the coins? I would doubt this as the exchange itself would likely have some level of value and could likely be sold for amounts greater then what would be stolen (less what it would take to disassociate the stolen coins - the mixer fees). Yes, because most exchanges that get "hacked" are experiencing falling levels of trading activity right before. Conspiracy: Mintpal was hacked, they got the BTC + were able to sell it and the buyer covered the losses. Nice job, eh? ^^
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This spot for rent.
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Mobius
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August 10, 2014, 08:42:37 PM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
I don't think this so much has to do with the profitability of the exchanges but rather the amount of coins stored on these types of exchanges. I think a lot of people like to trade altcoins in a "day trading" fashion and as a result keep their coins on the exchanges. This results there being more coins on the exchange then there really should be. Still, even if only a 1/3 or so of the coins normally stored on an exchange would be there, they still would be "hacked" and it would still be profitable enough for those guys to run the "Long-cons". Do you think the altcoin exchanges failing is merely the operators running away with the coins? I would doubt this as the exchange itself would likely have some level of value and could likely be sold for amounts greater then what would be stolen (less what it would take to disassociate the stolen coins - the mixer fees). Yes, because most exchanges that get "hacked" are experiencing falling levels of trading activity right before. Conspiracy: Mintpal was hacked, they got the BTC + were able to sell it and the buyer covered the losses. Nice job, eh? ^^ IDK. I do not usually wear tinfoil hats so I am one to believe it was not an inside job. The buyer obviously though the price they paid was worth it, otherwise they would not have purchased the exchange. If the exchange had not been hacked and the buyer didn't have to cover the losses then the exchange could likely have asked for a higher price.
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DannyElfman
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August 11, 2014, 12:13:45 AM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
I don't think this so much has to do with the profitability of the exchanges but rather the amount of coins stored on these types of exchanges. I think a lot of people like to trade altcoins in a "day trading" fashion and as a result keep their coins on the exchanges. This results there being more coins on the exchange then there really should be. Still, even if only a 1/3 or so of the coins normally stored on an exchange would be there, they still would be "hacked" and it would still be profitable enough for those guys to run the "Long-cons". Do you think the altcoin exchanges failing is merely the operators running away with the coins? I would doubt this as the exchange itself would likely have some level of value and could likely be sold for amounts greater then what would be stolen (less what it would take to disassociate the stolen coins - the mixer fees). Yes, because most exchanges that get "hacked" are experiencing falling levels of trading activity right before. Conspiracy: Mintpal was hacked, they got the BTC + were able to sell it and the buyer covered the losses. Nice job, eh? ^^ IDK. I do not usually wear tinfoil hats so I am one to believe it was not an inside job. The buyer obviously though the price they paid was worth it, otherwise they would not have purchased the exchange. If the exchange had not been hacked and the buyer didn't have to cover the losses then the exchange could likely have asked for a higher price. It was more of a joke, yes. Still many exchanges think they can get away with stealing and then closing shop. and most, sadly, do
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titulng
Sr. Member
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HubrisOne
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August 11, 2014, 04:39:49 AM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
many bitcoin exchange also like to do this. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Bogleg
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August 11, 2014, 06:43:11 AM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
I don't think this so much has to do with the profitability of the exchanges but rather the amount of coins stored on these types of exchanges. I think a lot of people like to trade altcoins in a "day trading" fashion and as a result keep their coins on the exchanges. This results there being more coins on the exchange then there really should be. Still, even if only a 1/3 or so of the coins normally stored on an exchange would be there, they still would be "hacked" and it would still be profitable enough for those guys to run the "Long-cons". Do you think the altcoin exchanges failing is merely the operators running away with the coins? I would doubt this as the exchange itself would likely have some level of value and could likely be sold for amounts greater then what would be stolen (less what it would take to disassociate the stolen coins - the mixer fees). Yes, because most exchanges that get "hacked" are experiencing falling levels of trading activity right before. Conspiracy: Mintpal was hacked, they got the BTC + were able to sell it and the buyer covered the losses. Nice job, eh? ^^ Poloniex was hacked and I believe everyone was paid back in full later.
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freedomno1
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Learning the troll avoidance button :)
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August 11, 2014, 06:51:41 AM |
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The exchanges are profitable if your lucky or are able to determine a good buy and sell signal on an altcoin. Anyways coinmarketcap shows the general liquidity if it wasn't mentioned yet. And mintpal got bought out lol.
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Believing in Bitcoins and it's ability to change the world
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Ayers
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Vave.com - Crypto Casino
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August 11, 2014, 02:51:36 PM |
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they are surely less profitable now, but usually they are the most profitable thing, between fee/voting and other stuff, they earn lots of btc per day, but you need a good employers with security internet study ecc....
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Altminer79
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August 12, 2014, 07:17:56 PM |
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IT amazing how much money company's and business's make off fees and exchanges. Like paypal and ebay make tons of money from fees just imagine 100k people giving .50$ to paypal that adds up. Just like bitcoin just the inflation rate and the money from fees just add up. It's a big business.
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JorgeStolfi
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August 13, 2014, 12:35:36 AM |
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IT amazing how much money company's and business's make off fees and exchanges. Like paypal and ebay make tons of money from fees just imagine 100k people giving .50$ to paypal that adds up. Just like bitcoin just the inflation rate and the money from fees just add up. It's a big business.
they claimed to have processed 100 million USD in payments last year. Somewhere in their website they should say what their fee is. It should amount to a couple million USD of revenue, at most. Not much for a company that has to pay maybe 10 employees at 50'000 USD/year or more. Does anyone know how much payment they (and/or Coinbase) have processed this year?
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Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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Mobius
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August 13, 2014, 05:05:58 AM |
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Altcoin exchanges are very very profitable for the people running it, because after 4-8 months, they get "hacked" and shut down. No questions asked :p
I don't think this so much has to do with the profitability of the exchanges but rather the amount of coins stored on these types of exchanges. I think a lot of people like to trade altcoins in a "day trading" fashion and as a result keep their coins on the exchanges. This results there being more coins on the exchange then there really should be. Still, even if only a 1/3 or so of the coins normally stored on an exchange would be there, they still would be "hacked" and it would still be profitable enough for those guys to run the "Long-cons". Do you think the altcoin exchanges failing is merely the operators running away with the coins? I would doubt this as the exchange itself would likely have some level of value and could likely be sold for amounts greater then what would be stolen (less what it would take to disassociate the stolen coins - the mixer fees). Yes, because most exchanges that get "hacked" are experiencing falling levels of trading activity right before. Conspiracy: Mintpal was hacked, they got the BTC + were able to sell it and the buyer covered the losses. Nice job, eh? ^^ IDK. I do not usually wear tinfoil hats so I am one to believe it was not an inside job. The buyer obviously though the price they paid was worth it, otherwise they would not have purchased the exchange. If the exchange had not been hacked and the buyer didn't have to cover the losses then the exchange could likely have asked for a higher price. It was more of a joke, yes. Still many exchanges think they can get away with stealing and then closing shop. and most, sadly, do When they steal large amounts it is possible to track the theft through the blockchain as mixers are not setup to handle extremely large amounts. Additionally the vast majority of exchanges have some level of information about their owners public so if they were to steal then they would already be doxed.
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Coinhunter32
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August 16, 2014, 08:18:04 AM |
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Extremely profitable , I used to do small exchanges with a group of friends with anyone we could find. (:
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