cryptsy and market saturation

[kelsey]

Markets showing all the signs of market saturation, and what does cryptsy do; add more coins 

You all know where this is heading?

Well it'll end up just being the newest pump n dump coin everyone will pile into, leaving the old to slowly die (except a few hardcore followers), then repeat, repeat, repeat.......yeah cryptsy will make fees of the lastest coins, so it'll be indifferent to them, but it'll help destroy alts on the most part.


Whats needed? A decent exchange, that limits the coins it adds, does research on said coins and only adds coins that meet a certain standard.

[kelsey]

More a love/hate relationship, where else would I dump my crapcoins? but seriously on the established coins hardly the volume there to trade, so rarely do anymore.

[kelsey]

More a love/hate relationship, where else would I dump my crapcoins? but seriously on the established coins hardly the volume there to trade, so rarely do anymore.

What are you talking about?

AUR just had 6000 BTC/ 24hr volume ROFL....


~BCX~

Yes, yes and via a nice downtrend lol

[rikkejohn]

Cryptsy went way over the top, then CoinEx followed to keep up. Half the coins added now seem to crash immediately.

Fair enough if it is about business, but I wonder whether in the long-term it will really pay off.

You hit a point where you just won't bother with anything other than BTC, LTC and maybe a small handful of promising coins.

[rikkejohn]

More a love/hate relationship, where else would I dump my crapcoins? but seriously on the established coins hardly the volume there to trade, so rarely do anymore.

What are you talking about?

AUR just had 6000 BTC/ 24hr volume ROFL....


~BCX~

I wouldn't roll on the floor laughing, he said "established" coins had no volume.

So the joke is on you, fella!

[kelsey]

More a love/hate relationship, where else would I dump my crapcoins? but seriously on the established coins hardly the volume there to trade, so rarely do anymore.

What are you talking about?

AUR just had 6000 BTC/ 24hr volume ROFL....


~BCX~

I wouldn't roll on the floor laughing, he said "established" coins had no volume.

So the joke is on you, fella!

BCX was speaking in jest 

[rikkejohn]

More a love/hate relationship, where else would I dump my crapcoins? but seriously on the established coins hardly the volume there to trade, so rarely do anymore.

What are you talking about?

AUR just had 6000 BTC/ 24hr volume ROFL....


~BCX~

I wouldn't roll on the floor laughing, he said "established" coins had no volume.

So the joke is on you, fella!

BCX was speaking in jest 

shit, so is the joke on me now ffs? :-)

[rikkejohn]

BCX was speaking in jest  

Apparently Rikkejohn  isn't exactly Capt. Obvious.



~BCX~

Normally I would have picked up on it but there are so many deluded people here that I thought you were just one of them.

I've made a mental note of the initials BCX to not make sarcastic replies to.

[kelsey]

Cryptsy went way over the top, then CoinEx followed to keep up. Half the coins added now seem to crash immediately.

Fair enough if it is about business, but I wonder whether in the long-term it will really pay off.

You hit a point where you just won't bother with anything other than BTC, LTC and maybe a small handful of promising coins.

+1

[markm]

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-MarkM-

[hyunsookmom]

I don't think you can blame Cryptsy for all the crap coins, they are simply providing a service to people who want to buy certain coins. There will be new coins until people stop buying them. That's a free market, but even free markets run into issues like market saturation. The market is a specialist market at the moment one or two will eventually rise to be the contenders for the mainstream and then the rest will sink into obscurity IMO.


In other words just let the free market shake things out, trying to control it won't achieve anything of people want to buy the lesser coins they will somewhere else. How you decide what is crap or not anyway? All coins have to start somewhere and who is to say Dogecoin for example is good or bad? It's popular but didn't add any functions to already existing coins but has function simply cause it's popular. Who at the beginning of Dogecoins life would say it has a viable future?

Of course there is nothing stopping someone opening an exchange called something like quality coins and only sell what they perceive are the top coins. You could also only sell the top market cap coins but in the end it's artificial compared to just letting people decide what they want to buy. The free market and the invisible hand has an amazing power to separate the wheat from the chaff. I just wish our governments understood that.

[wasamata]

Blame all the mudda fudder sites i.e mintpal, for accepting bribes so these scammers can dump their premines on to the public.
No scuples, no coin analysis, no integrity, just plain ol' GREED.

[s1gs3gv]

Whats needed? A decent exchange, that limits the coins it adds, does research on said coins and only adds coins that meet a certain standard.

What standard is that ? Your standard ? The bitcoin standard ? How about an exchange that only traded the coins that kelsey has ?

LOL

~~XCB~~

[jonnysomething]

Changes are sure to come around very soon. CoinPayment is being closed down for facilitating money transfers without proper licensing, and the exchanges will be announcing the same thing soon I'm sure, unless they pay up to the Government. The small exchanges will be forced to close, and a stronger system will emerge.

The sooner exchanges are forced out of the business, the better. Do you think bitcoin grew because there was a million exchanges around when it launched? No, it grew because it slowly built a demand for itself. Pretty much every coin you see is useless and they're destroy the crypto market. Before you mine or invest in a coin, think to yourself "what purpose does this coin serve?" Don't read the disillusioned ramblings of the coin creator or early investors, those are the ones that stand to profit big if there coin catches people's eye. Ask yourself that question.

Good ideas:
BitCoin - a cheap way to send money on over the internet without banks, anywhere. Makes sense.
LiteCoin - a successful alternate to the main currency. Not as valuable, but is like silver to bitcoin's gold.
WorldCoin - Sure, 1 worldwide currency sounds like something that could exist some day.

Coin with a potential future use:
TaxiCoin - Unrealistic, but in app currencies could be used for payment in the future.
SexCoin - A private way to make XXX purchases online with no paper trail? Makes sense.

Stupid coins:
BBQCoin, BEECoin, Ron Paul Coin, MaxCoin... what longterm fucking purpose do you think these coins serve? Will your grandmother want some bbqcoin to spend somewhere? Will your cousin have any interest in a coin that uses screenshots from BEE Movie in it's advertising? If you try to tell them that some guy named Max is going to change the world by making his own currency, do you not think you'll sound like a fucking Jehovas witness?


I like to be able to play around with new coins as much as the next (I made a few dollars on Maza, by luck) - but I would rather play around with coins that are legit. If there's less on the market, that's completely fine. Could you imagine if this was how the stock exchange was ran?

This is all just my opinion, feel free to debunk.

[kelsey]

Whats needed? A decent exchange, that limits the coins it adds, does research on said coins and only adds coins that meet a certain standard.

How about an exchange that only traded the coins that kelsey has ?

~~XCB~~

Well that would make sense, atleast it would rule out obvious scamcoins 

[Oldminer]

Markets showing all the signs of market saturation, and what does cryptsy do; add more coins  

You all know where this is heading?

Well it'll end up just being the newest pump n dump coin everyone will pile into, leaving the old to slowly die (except a few hardcore followers), then repeat, repeat, repeat.......yeah cryptsy will make fees of the lastest coins, so it'll be indifferent to them, but it'll help destroy alts on the most part.


Whats needed? A decent exchange, that limits the coins it adds, does research on said coins and only adds coins that meet a certain standard.

Sounds like the old cryptsy before they realised that being selective with coins is akin to slowly committing hari kari. Thank fuck for other exchanges.

[s1gs3gv]

Changes are sure to come around very soon. CoinPayment is being closed down for facilitating money transfers without proper licensing, and the exchanges will be announcing the same thing soon I'm sure, unless they pay up to the Government. The small exchanges will be forced to close, and a stronger system will emerge.

At the moment, exchanges are centralized single points of failure and subject to easy regulatory control. What a p2p currency needs is a p2p exchange protocol, ie: exchange functionality should be built into each wallet.

~~XCB~~

[jonnysomething]

Markets showing all the signs of market saturation, and what does cryptsy do; add more coins  

You all know where this is heading?

Well it'll end up just being the newest pump n dump coin everyone will pile into, leaving the old to slowly die (except a few hardcore followers), then repeat, repeat, repeat.......yeah cryptsy will make fees of the lastest coins, so it'll be indifferent to them, but it'll help destroy alts on the most part.


Whats needed? A decent exchange, that limits the coins it adds, does research on said coins and only adds coins that meet a certain standard.

Sounds like the old cryptsy before they realised that being selective with coins is akin to slowly committing hari kari. Thank fuck for other exchanges.

Taking on something that big, they should have team a dedicated to verifying coins. They profit from having more coins, they look bad by offering shitcoins. Have an application process, and anonymous developers are not welcome.

There are steps they could take. They just don't, to maximize profits.

[BrewCrewFan]

Markets showing all the signs of market saturation, and what does cryptsy do; add more coins 

You all know where this is heading?

Well it'll end up just being the newest pump n dump coin everyone will pile into, leaving the old to slowly die (except a few hardcore followers), then repeat, repeat, repeat.......yeah cryptsy will make fees of the lastest coins, so it'll be indifferent to them, but it'll help destroy alts on the most part.


Whats needed? A decent exchange, that limits the coins it adds, does research on said coins and only adds coins that meet a certain standard.

Sounds like the old cryptsy before they realised that being selective with coins is akin to slowly committing hari kari. Thank fuck for other exchanges.

Taking on something that big, they should have team a dedicated to verifying coins. They profit from having more coins, they look bad by offering shitcoins. Have an application process, and anonymous developers are not welcome.

There are steps they could take. They just don't, to maximize profits.

I often wonder if its just the same BS few people who make up all these coins.

[goin2mars]

Markets showing all the signs of market saturation, and what does cryptsy do; add more coins  

You all know where this is heading?

Well it'll end up just being the newest pump n dump coin everyone will pile into, leaving the old to slowly die (except a few hardcore followers), then repeat, repeat, repeat.......yeah cryptsy will make fees of the lastest coins, so it'll be indifferent to them, but it'll help destroy alts on the most part.


Whats needed? A decent exchange, that limits the coins it adds, does research on said coins and only adds coins that meet a certain standard.

Sounds like the old cryptsy before they realised that being selective with coins is akin to slowly committing hari kari. Thank fuck for other exchanges.

Taking on something that big, they should have team a dedicated to verifying coins. They profit from having more coins, they look bad by offering shitcoins. Have an application process, and anonymous developers are not welcome.

There are steps they could take. They just don't, to maximize profits.

How are anonymous developer's an issue? Nakamoto still is not known for who he exactly is until just yesterday. Even then, nobody can know for sure. Free market gonna crush regulation any day dude. If you invest in a coin that sounds familiar or brings shit all to the table you better realize that you should be prepared to lose everything. Most likely sooner rather than later.

IMO cryptsy looks better for adding shit coins. Gives them the chance to die off now rather than drag it out over years of people not knowing which way is up.