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.
Anonymous developers are an issue because no one can be held accountable. Bitcoin didn't start out as a scam and potentially wasn't anonymous. It was the starting foundation of every crypto, and had the dev been one of the piece of shits you see today, then it wouldn't have been successful.
If the person currently being called the creator of Bitcoin is actually the creator, him putting his name on the coin shows he did not have intentions of being anonymous, even though anonymity would have been an easier option back then. Bitcoin was a project created to change the world, and anonymous developers have free rein to take advantage of those who don't understand it. Rich and smart people taking advantage of poor people is the exact thing Bitcoin was created to help fight.
Adding shitcoins to cryptsy doesn't help them die off... if they, as you say "drag out over years" (LIKE BITCOIN DID) they might actually have a chance at succeeding.
If you truly feel that some idiotic clone created by the "rich and smart people" is the best that some "poor people" can afford then this is still just the free market taking it's dues. Nobody's forcing these people to buy these coins.
A serious flag should be raised as to legitimacy when these same people go to the exchange and see one or two buy and sell walls surrounded with nothing but dollar buys every where else. If they can't do that then I guess money just isn't for them. These people should be looking for a Zeitgeist society where money doesn't exist and everything is traded based on need.
End of the day it's the coin and the market that speaks for whatever these people are buying into. Not the face of the developer. Not the daily hype. Not grand promises. If you feel like your money should have bought more then you should have spent it on something else. It's wrong to say that these people are being exploited. They are not. They made the decision with consent that one coin was to be traded at one rate when they clicked the buy button. You just don't get to blame the seller.
I'm with you in that it sucks to see people lose money, but end of the day nobody forced them to use their hard earned fiat to purchase a few bytes of meaningless data. If they're buying something they don't understand then it's on them. It takes years for children to understand what money is, so I find it laughable when people just throw that money at crypto like it will make them rich.
Do you really feel that 200 cryptocurrencies should exist? With more being added daily some of these need to be slaughtered. The market's just the grinder man.
How does adding shitcoins to cryptsy not let them die off? Look at stablecoin, fedoracoin, 42, auroracoin, caps, earthcoin, leafcoin, lottocoin . . the list goes on and on. These are and will always be shit coins. If the price rises it's because of a pump. If you think you deserve other people's money by investing in them and waiting for a pump then you're a dick and probably don't have a hot girlfriend.
Edit: I don't mean you personally, as you're arguing against shit coins in the first place. Meant some random person.
