>>>>> MINTPAL.COM shady maintenance practices MUST READ (needs solution) <<<<<<<

[declensions]

There's gotta be a better way to managing downtime, the owner couldn't have picked a worse timing.. 1 hour maintenance in the middle of high volume trading? (i was just about to sell mazacoin at the peak) What happens after the 1 hour and people miss their chance to sell which is the most likely scenario?

Now that I think about it, the timing of this maintenance is very suspicious. How come no one is pissed off about this?

I don't know if the owner is familiar with stock markets, but any kind of downtime = very angry customers

how are you going to have a maintenance during high volume trading, are you fucking kidding me? At this moment I could lose half my money, makes me wonder why the people with 10 times my wealth don't chime in.



 
original post was referring to mintpal.com, but i've since considered it's not fair to single them out when all exchanges have similar issues. I'm going to edit this post so we can brainstorm some solutions.

one solution I came up with is for major exchanges to sync their downtime.

As a community we must work together to prevent another mt.gox, because if that happens I guarantee you, when more people complain about losing their coins the government will bring the hammer down and cryptocurrency will become regulated.

Let us not forget that this is real money here, all altcoins are tied to the value of BTC, which is tied to the value of USD, which in turn can have a considerable effect on the US economy.

They may not be able to regulate the creation of coins, but they can definitely regulate online exchanges. We need to show the government that we can regulate ourselves.

[Imperials]

Relax man, Mintpal is very reputable and they have made a sufficient warning this morning...

[TrollboxChamp]

Cause youre retarded for trying to sell  

Go look at cryptorush.in 6 btc buy order at .00021.

Get fucked... you were gonna sell for 15k satoshi

[str4wm4n]

Relax man, Mintpal is very reputable and they have made a sufficient warning this morning...

[escrow.ms]

They have given a warning about downtime on their twitter.
https://twitter.com/MintPalExchange

[vlight]

Dude, it was announced 5 hours in advance  

[declensions]

how am I retarded for trying to sell? i'll be lucky if it doesnt drop


so what if it's announced 5 hrs in advance? How can you have a 1 hr maintenance during high volume trading? makes no fuckin sense. The timing is too suspicious

this is bullshit, ask anyone who has day-traded stocks/forex


Does anyone know if all buy/sell orders are automatically canceled at time of maintenance? I was trying to change my order when it went offline early

[cryptohunter]

it's taken over 5 hours for my btc to reach them...

still saying 0 confirmations? after all of this time? 

sent some to bitstamp 1 hour ago and see 2 confirms already?

[Imperials]

how am I retarded for trying to sell? i'll be lucky if it doesnt drop


so what if it's announced 5 hrs in advance? How can you have a 1 hr maintenance during high volume trading? makes no fuckin sense. The timing is too suspicious

this is bullshit, ask anyone who has day-traded stocks/forex

This is a prime example of a marginal trader who got greedy. Strong hands never sell and you should of known better than to get sucked in a trap for Maza. Big exchanges do undergo maintenance and having Maza with that volume is overwhelming to say the least.

[declensions]

how did i get greedy? I waited all day to get in at a good price.   You need to open your eyes.

well now cryptorush is in maintenance too..   too fuckin shady. There shouldn't be any downtime at all, at least pick a time when there isnt much activity.

stock exchanges can have downtime because the market isn't 24/7

[MaGNeT]

24 timezones, can't please everyone...

[declensions]

Anyone know what will happen after server is back up? do existing orders get filled?


we'll see what happens after maintenance. I had a sell order I was just about to cancel when the site went down.
the highest buy order was way below what i set.

if my order hasn't been filled there will be no problem, but if it is filled right after mintpal goes live, then that we'll know if any funny business went on during maintenance

[lemfuture]

its either that or loose coins choose 

[Imperials]

Hopefully OP isn't sleeping on this anymore to eventually buying back in at 0.003 .

[declensions]

no of course not. I'm just day trading. been making 100% gains almost every day this last week, even on coins people think are "too late" to get in on. You just have to buy when it dips


cryptorush maintenance over but mintpal still down.. comon man

i'm not saying maintenance isn't required, but there's gotta be a better way. This would fuck over a lot of people if the price on the currency plummets . It's pretty scary if you think about it.

[vlight]

no of course not. I'm just day trading. been making 100% gains almost every day this last week, even on coins people think are "too late" to get in on. You just have to buy when it dips


cryptorush maintenance over but mintpal still down.. comon man

i'm not saying maintenance isn't required, but there's gotta be a better way. This would fuck over a lot of people if the price on the currency they're trading dropped

So, you find a coin that is currently hot and then buy when it dips? How do you know that it will not tank lower?

[declensions]

how to find a coin that is hot, follow the trend (i mean what's hot, not the graph, never buy high). Or get in early on a coin you believe in.

Why trade something that has little to no volume? You wouldn't be able to buy/sell any coins and you'd be wasting your time if your goal is short-term gain

A coin like Aurora / Maza has a lot of price swing to make some serious profit. A few days ago it was Mintcoin and DRK


.. phew i was able to cancel my order in time, but for anyone who noticed, orders could not be made/canceled for about 10 mins after server went live

[EvilAxist]

and it's back...

calm yourself

[declensions]

no of course not. I'm just day trading. been making 100% gains almost every day this last week, even on coins people think are "too late" to get in on. You just have to buy when it dips


cryptorush maintenance over but mintpal still down.. comon man

i'm not saying maintenance isn't required, but there's gotta be a better way. This would fuck over a lot of people if the price on the currency they're trading dropped

So, you find a coin that is currently hot and then buy when it dips? How do you know that it will not tank lower?

i have my own method which I don't want to go into detail cus most of it is second nature to me. Half of it is gut feeling.  One part of it is, paying attention to how fast the transactions (and paying to supply/demand amounts) are coming in to tell how fast and much the price will move in a given period of time. Once it slows down it most likely will not go much lower for the time being. Even if it does, you don't lose much by holding and waiting for it to come back up.  Alternatively, if you think you got in at a bad price, it doesn't hurt to exit your position since the fees are so low compared to stock trading and the good thing is that there aren't prohibitive day-trading regulations and fees with crypto like there are with stocks.

another important part is watching the price on every single exchange that the coin is listed on so you get an accurate idea of the aggregate demand/supply

i can also tell the difference between a real price drop due to lack of interest and a flash-crash /panic sell

[vlight]

i have my own method which I don't want to go into detail cus most of it is second nature to me. Half of it is gut feeling.  One part of it is, paying attention to how fast the transactions (and paying to supply/demand amounts) are coming in to tell how fast and much the price will move in a given period of time. Once it slows down it most likely will not go much lower for the time being. Even if it does, you don't lose much by holding and waiting for it to come back up.  Alternatively, if you think you got in at a bad price, it doesn't hurt to sell it since the fees are so low compared to stock trading and the good thing is that there aren't prohibitive day-trading regulations and fees with crypto like there are with stocks.

i can also tell the difference between a real price drop due to lack of interest and a flash-crash /panic sell

That's amazing! Thanks and good luck with your trading !