Please do not trade on bittrex. Scammed too many times there.

[rokkyroad]

I agree Exchanges could take some responsibility for what they list. In the long run they are shooting themselves in the foot for allowing this shitcoin rampage. This is reflected by prices and volume in recent weeks. Big money has left the altcoin scene and exchanges are scrambling to maintain profits.

Buyers/investors need to take responsibility as well. You are screwing yourselves big time buying into the shitcoin pump&dump of the day.
Until people wise up, altcoin trading is going to remain in a downhill slump for some time.

[1714915507]

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[Marvell1]

No!

I said it a couple of times and I'll say it again. Stop blaming exchanges for shitty coins. It's not their fault people invest in all kinds of shady coins before doing their research. Exchanges are just tools, providing us a convenient way to trade. They are not to blame.

When I sell xtc and people die because they didn't read. I was just a tool as dealer? I had nothing to do with it?

When I own a bar and sell 6 liter of beer to a customer. I was a just a tool as barman when my customer becomes involved in a car crash because he decided to drive home?

another stupid anology :

in this case you sold him a bad batch of been that made him sick and crash his car would be a better analogy.  So technically you would be at fault even though in the eyes of the law he would be on his own  : but as a customer he trusted you to at least verify that your beer was good.

[Marvell1]

Does somebody has a list of coins failed there?

CNL ?

ELITE?

VAST?

AGS?

DRKC?

USB?

To be fair, we should also get a list of coins that were scams on other exchanges.  I'm sure Cryptsy and Poloniex had a few.

Yes but NOT so fast at bittrex... Poloniex and mintpal are not like bittrexshit.

WankCoin = scam too??

LOl i mined all those coins color me stupid 

[shojayxt]

We have entered a new era.

Mintpal has been taken over by Moolah.
Bittrex only cares about quick coins, and quick cash.
Poloniex on the other hand is to slow adding coins.
Cryptsy... Well, i call it the LTC exchange.

I've watched all these exchanges taking launch, getting bigger, getting biggest.
Now the time has come that new exchanges will rise up, and the big 4 will get left behind.

That's the way economy works. Don't blame bittrex, they'll end up blaming thereselfs one day for their greed.
I have more trust in smaller exchanges now than i have in bittrex. Removed most of my holdings there.

This is the next MtGox. Doomed to fail.
One day i'll wake up reading on twitter the feds seized all there servers to investigate. Mark my words.

I've thought that about Poloniex after the string of failed IPO's they hosted.  That's why I don't keep my btc or coins on the exchanges.  If I'm selling I move my coins to exchange - sell -withdraw btc.  If I'm buying I do the opposite.

I don't want to wake up and find out my funds are being loaded into a black van with a US Government license plate.

[johnd7]

On Bittrex i had no issue so far on BTC and famous currencies. Maybe they should better check the coins before add. And they should better put new coins use at your own risk or so.

[Nxtblg]

Lol, this is like telling the bank they scammed you because of an investment made. Try that at a bank, see how far you get. Do you really need to be told "invest at your own risk"?

Yeah, or a highly regulated brokerage firm. As long as the broker marks a dodgy trade as "against broker's advice" - after really advising against it, of course - he's 100% covered legally.

As is any discount brokerage firm that offers 100% self-directed trades.

Welcome to the world of regulation, where the regulations only limn the ways in which your net worth can be decimated. As always, caveat emptor.

[Bitcycle]

I agree Exchanges could take some responsibility for what they list. In the long run they are shooting themselves in the foot for allowing this shitcoin rampage. This is reflected by prices and volume in recent weeks. Big money has left the altcoin scene and exchanges are scrambling to maintain profits.

Exactly true. It's in their own best interest to step up the game, but I'm beginning to wonder if they can see that.

[barryzand]

Time for visa implementation in crypto... all our purchases will be insured for a few weeks

[j5crypto]

You can only scam yourself. We have a voluntary free market system in the crypto world. You have to protect yourself and stop looking for others to protect you(ie exchanges). This is not a sport for the weak.

[Bitcycle]

Moolah is taking over Mintpal and they explicitly state they'll be taking aggressive measures to avoid scamcoins.

http://blog.moolah.io/2014/07/28/were-taking-over-mintpal-heres-what-you-need-to-know/


Your move, Bittrex.

[cassius69]

You can only scam yourself. We have a voluntary free market system in the crypto world. You have to protect yourself and stop looking for others to protect you(ie exchanges). This is not a sport for the weak.

anyways. fuck shittrex and fuck new coins.

just quit buying new altcoins with newb devs.

thats the only way to be safe.

[j5crypto]

You can only scam yourself. We have a voluntary free market system in the crypto world. You have to protect yourself and stop looking for others to protect you(ie exchanges). This is not a sport for the weak.

anyways. fuck shittrex and fuck new coins.

just quit buying new altcoins with newb devs.

thats the only way to be safe.

Now you get it! Take back the power. Make devs create coins on your terms.

This wont happen overnight so just let people lose their money until they figure it out(an expensive learning experience)(some people have money to burn).

[Ozlanthos]

Hello all.
In the last couple of days, the community been scammed too many times.
We won't be scammed if exchanges will look closer onto coin before adding them.
My question is :
Does Bittrex getting money for adding the coins to the market ?
Why they do not check the code ?
Bittrex please take a responsibility !!!!!!!!!!!

Uh, how about YOU take some responsibility! Who bought the coins? Oh yeah, that was YOU! Who didn't sell before the coin crashed? Oh yeah, that was YOU! No doubt Bittrex would have some accountability if it could be proven that they were intentionally allowing scam-coins on to their exchange, but I kind of want to blame this one on you. I didn't lose any money on Elitecoin or Judgecoin, or whatever butt-coin it is that went cablooey in your portfolio, but that is because I usually stick to coins that have some history, coins I can check the distribution of miners, and volume of mining done, etc. If you are just chasing P&Ds (which can be fun and profitable) you are bound to get burned now and then. None the less, you are going about notifying other traders the right way, but I would change a few things. Like rather than accusing Bittrex (unless you have noted a distinct pattern of abuse, then what you should do is document all of the events, compile them into an article, and send it off to the billions of bitcoin news-sites that are budding up every 2 seconds... don't forget to add your BTC, LTC, DOGE, DRK or whatever coin wallet address at the end...traders like good research material ;-) ) I would note the coin in particular. If it is something being done by Bittrex, and can be proven, then by all means, document the actual events and .....

All I am saying is that regulators are looking for any excuse to get between us and our money. The trick is to know this, and to acknowledge that this space is free. There are going to be winners, and there are going to be losers. The difference about this market is that today's winners are not going to always be winners because the market was designed to keep them as winners. If they are still winning tomorrow, it is because they know what they are doing, do their research, study the market, and make moves they are confident in. Even then losses do occur, and today's prince CAN BE tomorrow's frog. So yeah, keep it coming, but please be more specific about what the activity is, and who you believe to be responsible (and consider that last factoid to be the most significant, because SOMEONE will consider what you have to say as actionable data, and no use killing the user-base of a perfectly good exchange due to the bad acts of some asshole devs...that Bittrex probably had no knowledge or control over....think about it this way, they could have just let trade keep happening despite the problems being reported...if ill-intent was the goal, that's what I would have done!).

1PZG6XSqRSw7Qejo5S2Rs3nkskEizbCkvk

[Nxtblg]

If you don't like the current options, feel free to start your own exchange.

shut up moron.

you start a discussion, then proceed to insult people when they give you a VALID alternative?

Why would that surprise you? It's SOP in re the ACA & so much more. Spend some time watching D.C. politics and you can be embittered just like me.

[Nxtblg]

If you don't like the current options, feel free to start your own exchange.

Sure - name it Bitterex! 

[giveBTCpls]

Moolah is taking over Mintpal and they explicitly state they'll be taking aggressive measures to avoid scamcoins.

http://blog.moolah.io/2014/07/28/were-taking-over-mintpal-heres-what-you-need-to-know/


Your move, Bittrex.

It's actually cool that an exchange takes measures to filter scamcoins that get in exchanges thanks to people bribing them with BTC in the first place, but doesn't this kill the vibe of free market? Yes this is a shitfest of altcoins but there's something cool about this wild wild west scenareo.

[brainape]

What if...just what if...

The exchanges are the ones making the coins...

[Nxtblg]

Moolah is taking over Mintpal and they explicitly state they'll be taking aggressive measures to avoid scamcoins.

http://blog.moolah.io/2014/07/28/were-taking-over-mintpal-heres-what-you-need-to-know/


Your move, Bittrex.

It's actually cool that an exchange takes measures to filter scamcoins that get in exchanges thanks to people bribing them with BTC in the first place, but doesn't this kill the vibe of free market? Yes this is a shitfest of altcoins but there's something cool about this wild wild west scenareo.

It might well happen. Polo went down this road a while back. If you know Busoni, you know that they did so because they were naïve. They did stop.

For all I know, the Bittrex guys were naïve too and they're reconsidering their policy as I write this. Certainly, they'll rescind it if the damage to their reputation makes the BTC-for-listing BTC more costly (in terms of business lost) than it's worth. Aside from the more difficult-to-quantify reputational damage.

And the free market will still be the free market. Bittrex grew like Topsy in the wake of Polo pulling back, and CryptoRush and Coinmarket.io imploding. If the Bittrex boys decide it's time to act like the top-tier exchanges and be choosy about which new coins to list, then one or a few new exchanges will fill the vacuum left behind by Bittrex gentrifying itself.

And the semi-controlled chaos will continue...

...and I, in my old-fashioned way, will keep diligently withdrawing my coins after my trades are done... 

[Ozlanthos]

What if...just what if...

The exchanges are the ones making the coins...

You know aq sure fire way to tell? MINE SOME OF THE COINS! Try downloading and installing their wallets. If you can't get the wallet to install and run, if you can't get the miner to run, and/or havn't gotten any coins, CHANCES ARE IT'S A SCAM COIN! You want safe? Stick with FIAT, they are nice and regulated, although it will cost you an arm and a leg in fees and such to participate. Remember, there are no parents here, so do your fricken homework, or face the possibility of getting scammed!

-Oz

[rayday11]

FYI


Raising The Bar - Scam Coins
Over the course of the last month, we have seen an increasing number of scam coins in the marketplace.  Bittrex has had the unfortunate displeasure of hosting a few of these.  As such, we had a discussion with some members of the community (influential people, pool operators, coin devs, etc) to see what we, as a community, can do about it.  This is a crypto currency problem that the community needs to work together to solve. 

First, the raw logs can be found here: http://pastebin.com/iZ6uYk7R

Out of the conversation today, we came up with 3 action items:

We will be supporting a community run scam bounty.  If a scam coin is listed at an exchange, and we are able to stop it before any users get hurt, a bounty will be paid out.  We already have support from a couple big pools and will be talking to others. @CryptoCobain will hold the wallet and lead this effort - ETA 8/1
We will make available a feature to show when a coin has been "vetted".  This is just a designation that someone has looked at the code and is willing to put their name to it.  This will be a community driven effort.  - ETA 8/15
We will be adding additional security checks around markets and wallets similar to our forking and double spend checks. False positives may shutdown markets and currencies while we investigate. We will not be publishing specifics since that will notify attackers. These gates are not a substitute for due diligence by traders but will raise the bar on scammers.
These are not 100% solutions, nor do I think there are any. We are committed to raising the bar and I think these are the right first steps.

Thanks

Richie