Moolah is filing for bankruptcy.

[TaunSew]

Yeah MintPal used to be pretty big?  Wasn't it the #1 exchange for Doge?

The irony, from the place we least expected it, seems like the more reputable exchanges are in China.  Seems like all the exchanges based out of America, Britain and Japan are getting busted as scams (to be fair, the one in Japan was ran by a fat French guy and not a Japanese guy bounded by the Bushido code of honor  )

[adhitthana]

What I think happened.

1. Moolah was not making ends meet.
2. Seeing Mintpal having issues Alex Green hatched a plan and approached Mintpal offering a deal, which he thought could save Moolah.
3. Moolah never bought Mintpal, as Moolah didn't have any money.
4. Mintpal volumes were very slow returning to previous levels, and Alex saw the writing on the wall and put Moolah into receivership.
5. The story about "critical" issues and "bugs" at Mintpal may or may not be true, but they definitely need someone to manage the exchange
6. The coins are still "there."

It's more unlikely Alex is lying now as he will be opening himself up to criminal charges if he does now that Moolah is in receivership. Whilst big noting himself previously by talking of an "aquisition" of Mintpal is no crime.

[vsmamm]

mintpal is a shit exchange.

[ChekaZ]

Havent traded at Minpal at all, but its sad for people who had coins on there :/

[devphp]

Mtgoxxed. We need regulations to hold these guys responsible for their failures.

Blame yourself for not keeping your funds at your own wallet and your own computer if you lost any. Centralized exchanges and services have to go.

[adhitthana]

mintpal is a shit exchange.

Every alt coin exchange is shit. They have all been built from the ground up relatively recently.
Mintpal has a lot of value still, to the right group.

[adhitthana]

Mtgoxxed. We need regulations to hold these guys responsible for their failures.

Blame yourself for not keeping your funds at your own wallet and your own computer if you lost any.

Correct

Centralized exchanges and services have to go.

Whilst I'ma big fan of decentralisation, there are advantages of having a meeting place too.
Do you know of any decentralised alternatives to exchanges? I know there are some ideas but I'm a bit hazy on how they work, Do you know?

[iGotSpots]

Mtgoxxed. We need regulations to hold these guys responsible for their failures.

Blame yourself for not keeping your funds at your own wallet and your own computer if you lost any. Centralized exchanges and services have to go.

I agree with the first part, but not the latter

[devphp]

]Whilst I'ma big fan of decentralisation, there are advantages of having a meeting place too.
Do you know of any decentralised alternatives to exchanges? I know there are some ideas but I'm a bit hazy on how they work, Do you know?

Unfortunately, there are no 100% decentralized currency-to-currency exchanges yet. Multigateway.org is semi-decentralized. NXT Asset Exchange (and its web frontend https://trade.secureae.com) is decentralized, but it's for trading assets mostly, although there are a few cryptos trading on it too. I believe they are working on the cross-chain decentralized trading solution right now. Well, my point was mostly not to store funds at centralized exchanges or any place where you need to trust third party.

[Fidel Crypto]

it is unbelievable that people are still interested in acquiring Mintpal.

this time by a pump and dumper. it can be more ridiculous.
http://allaltnews.blogspot.co.uk/2014/10/mintpal-ceo-of-coyote-wallstreet-to.html?m=1

[sdersdf3]

Yeah MintPal used to be pretty big?  Wasn't it the #1 exchange for Doge?

The irony, from the place we least expected it, seems like the more reputable exchanges are in China.  Seems like all the exchanges based out of America, Britain and Japan are getting busted as scams (to be fair, the one in Japan was ran by a fat French guy and not a Japanese guy bounded by the Bushido code of honor   )

That's a very interesting point, if true, but wasn't there some big HK-based exchange that also went bust? Maybe there are others just not as widely reported in the West.

[infinitechaos]

I guess now that they say they didn't buy Mintpal... and here they do

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

"As a result of this acquisition, we are intending to separate https://trade.moolah.io/ and https://mintpal.com/ as follows."

it can be safely assumed that nothing that Alex guy ever says can be taken as truth.

I wonder though, if they didn't buy mintpal then who the hell does own it and why was this just an elaborate ruse to make people think moolah owned it? hmmmm...

Moolah's CEO, Alex Green, and 2 other anonymous individuals bought Mintpal and contracted Moolah out to operate the exchange.

Moolah was essentially a ponzi. He took in 750+BTC from investors to start Moolah, then eventually bought Mintpal (with investors' money?) for himself instead of developing the Moolah products and services and contracted Moolah to operate Mintpal.

[Fidel Crypto]

Yeah MintPal used to be pretty big?  Wasn't it the #1 exchange for Doge?

The irony, from the place we least expected it, seems like the more reputable exchanges are in China.  Seems like all the exchanges based out of America, Britain and Japan are getting busted as scams (to be fair, the one in Japan was ran by a fat French guy and not a Japanese guy bounded by the Bushido code of honor   )

That's a very interesting point, if true, but wasn't there some big HK-based exchange that also went bust? Maybe there are others just not as widely reported in the West.

bitfinex has a history if i'm not mistaken

[reRaise]

Use Cryptsy

[muddafudda]

$45,000 in wages and $22,000 in overheads per month.

I hope the uk government goes over them with a fine tooth comb and at minimum ban these guys from operating a business for 10 years minimum

[adhitthana]

$45,000 in wages and $22,000 in overheads per month.

Where do these figures come from?

[adhitthana]

Moolah's CEO, Alex Green, and 2 other anonymous individuals bought Mintpal and contracted Moolah out to operate the exchange.

Moolah was essentially a ponzi. He took in 750+BTC from investors to start Moolah, then eventually bought Mintpal (with investors' money?) for himself instead of developing the Moolah products and services and contracted Moolah to operate Mintpal.

Thanks..Where did you get this information?

[nakaone]

if this ends as bad as I think I would give 35% of my holdings on mintpal for legal actions.

cryptocurrencies simply do not vanish they have to be at another place

mintpal worked great for a long period of time having around 500-1000 btc revenue - they simply cannot have burned it all

[3x2]

another gox, how can one trust these exchanges? trade and withdraw is the the best thing these days.

[muddafudda]

$45,000 in wages and $22,000 in overheads per month.

I hope the uk government goes over them with a fine tooth comb and at minimum ban these guys from operating a business for 10 years minimum

From the coin desk article