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Author Topic: Keep your coins off the exchanges!! they use your funds to manipulate prices  (Read 2107 times)
MicroGuy
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November 21, 2014, 09:01:19 PM
 #21

It's also a good idea to keep coins off exchanges to reduce centralization and single points of failure.

Some of the cold storage wallets that I've found are absurdly huge.  Cool
thelonecrouton
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November 21, 2014, 09:09:22 PM
 #22

LOL, this is news to people?

You don't think those house bots are shorting your coin into fucking oblivion with their own money do you?

Exchanges are the same as casinos/gambling sites: they are all bent. All of them. Every. Single. One.

Hopefully Darkcoin's InstantX will let traders at least get in, trade, and get back out again in a sensibly short time. There will still be thousands of morons who leave balances on exchanges though, and these cretins hurt everyones 'investment'.

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November 21, 2014, 09:16:39 PM
 #23

You should include some, back up information in the OP maybe? I  agree though.

“It will be everywhere, and the world will have to readjust. World governments will have to readjust.”
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November 21, 2014, 09:46:22 PM
 #24

ROFL that thread is retarded.

Better say:

Keep your coins off the exchanges! So whales can fuck around with her coins on exchanges while you noobs can't dump your coins.

Much luck with bagholding in your wallet  Cool

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November 22, 2014, 02:54:32 AM
 #25

ROFL that thread is retarded.

Better say:

Keep your coins off the exchanges! So whales can fuck around with her coins on exchanges while you noobs can't dump your coins.

Much luck with bagholding in your wallet  Cool
then your coins disappear like for mintpal... your choice (and don't say it can't happen here or there... it clearly shows it can happens on every exchange).

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November 22, 2014, 03:33:56 AM
 #26

Lips sealed

To day trade you need to keep coins on exchanges, you make money (hopefully) but you take a third party risk
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November 22, 2014, 04:06:50 AM
 #27

Keep your coins off the exchanges!! they use your funds to manipulate prices

And banks, investments are not doing the same thing (wow), quick pull all your cash out of the banks and watch what happens.

Grin
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November 22, 2014, 04:20:47 AM
 #28

Hopefully when Koinyx exchange comes out it will be able to handle these types of situations without the 2-3 hour delays that are imposed to limit actual benefit to customers instead of the exchange operators. I love the idea of arbitrage, but good luck when sending coins takes 10x longer than it should because of shady exchanges.
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November 22, 2014, 04:24:23 AM
 #29

Hopefully when Koinyx exchange comes out it will be able to handle these types of situations without the 2-3 hour delays that are imposed to limit actual benefit to customers instead of the exchange operators. I love the idea of arbitrage, but good luck when sending coins takes 10x longer than it should because of shady exchanges.

does your bank not do the same thing.

therefore i agree, shady practices everywhere but if you want to invest that is what you have to use

as you said until something better comes along

for me in the case of fiat versus bitcoin i will take the bitcoin exchanges over the banks

I have lost almost $1500 to a shady exchange but have made 3 times my initial investment on others, like to see a bank do that with reduced fess and transaction times sending money around the world.

 i lost over 20% of one of my transactions using a wire transfer which was way more on a percentage basis to my loss on a shady exchange

Grin
poncom
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November 22, 2014, 05:23:53 AM
 #30

Lips sealed

To day trade you need to keep coins on exchanges, you make money (hopefully) but you take a third party risk

Until there are decentralized echanges the only way to sell coins in move them to centralized exchanges. It's probably good practice to keep your coins there as briefly as possible.
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November 22, 2014, 05:24:43 AM
 #31

Keep your coins off the exchanges!! they use your funds to manipulate prices

And banks, investments are not doing the same thing (wow), quick pull all your cash out of the banks and watch what happens.

....but keeping your cash in the bank doesnt affect the value of USD
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November 22, 2014, 05:31:19 AM
 #32

Keep your coins off the exchanges!! they use your funds to manipulate prices

And banks, investments are not doing the same thing (wow), quick pull all your cash out of the banks and watch what happens.

....but keeping your cash in the bank doesnt affect the value of USD

yes it does

there would be no value in the USD if everyone pulled their money out of the banks, who would invest in the USD or US investments no-one


 therefore having your money in the bank helps the USD and BTC in the exchanges helps BTC



not saying keep all BTC in exchange but everyone who trades keeps some in there and it is good for btc (shit fight + transactions going from wallet to exchange and back again to trade)

Grin
michaellanthros
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November 22, 2014, 06:22:18 AM
 #33

Everyone should withdraw their coins soon as they finish trading. I think the problem is most sites make it hard to withdraw with delays and fees.
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November 22, 2014, 06:51:42 AM
 #34

crypto 101 never leave ur crypto wealth on any online source.
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November 22, 2014, 08:00:01 AM
 #35

Hopefully when Koinyx exchange comes out it will be able to handle these types of situations without the 2-3 hour delays that are imposed to limit actual benefit to customers instead of the exchange operators. I love the idea of arbitrage, but good luck when sending coins takes 10x longer than it should because of shady exchanges.


I can't guarantee downtime, but I can guarantee that we are not going to willy nilly delays (especially at critical times). Koinyx isn't going to be in the business of going all out and maximizing profits at the detriment of customers or crypto's as a whole. As a matter of fact, beyond the exchange we have plans to do much more that will greatly benefit cryptos (in the future of course)!


Hopefully when Koinyx exchange comes out it will be able to handle these types of situations without the 2-3 hour delays that are imposed to limit actual benefit to customers instead of the exchange operators. I love the idea of arbitrage, but good luck when sending coins takes 10x longer than it should because of shady exchanges.

does your bank not do the same thing.

therefore i agree, shady practices everywhere but if you want to invest that is what you have to use

as you said until something better comes along

for me in the case of fiat versus bitcoin i will take the bitcoin exchanges over the banks

I have lost almost $1500 to a shady exchange but have made 3 times my initial investment on others, like to see a bank do that with reduced fess and transaction times sending money around the world.

 i lost over 20% of one of my transactions using a wire transfer which was way more on a percentage basis to my loss on a shady exchange


Koinyx will not be engaging in shady practices, at all.




With all of that said, I STRONGLY suggest, even as a future exchange owner, do not keep your coin on an exchange unless you are using them to trade.

Follow me on twitter https://twitter.com/TheRealMage for Litecoin and Litecoin Association news!
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November 22, 2014, 10:33:10 AM
 #36

Yep, put the funds in your wallets asap, thats what crypto is made for - empower the user in a decentralized fashion
djm34
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November 22, 2014, 12:46:12 PM
 #37

Hopefully when Koinyx exchange comes out it will be able to handle these types of situations without the 2-3 hour delays that are imposed to limit actual benefit to customers instead of the exchange operators. I love the idea of arbitrage, but good luck when sending coins takes 10x longer than it should because of shady exchanges.


I can't guarantee downtime, but I can guarantee that we are not going to willy nilly delays (especially at critical times). Koinyx isn't going to be in the business of going all out and maximizing profits at the detriment of customers or crypto's as a whole. As a matter of fact, beyond the exchange we have plans to do much more that will greatly benefit cryptos (in the future of course)!




Koinyx will not be engaging in shady practices, at all.


They all say that...  Grin
The problem at some point is that you realize it is a lot of work for very small fee (and you decide to accept every ipo coinn for 3btc... )
Then you think you can make lots of money by using all the btc on the exchange and return them to their owner once done...
may work... may not... if may not... well if you have enough btc to reimburse then it is ok, if not the time for the "we've been hacked, I close" scam has came

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e-coinomist
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November 22, 2014, 01:17:49 PM
Last edit: November 22, 2014, 01:30:17 PM by e-coinomist
 #38

Hopefully when Koinyx exchange comes out it will be able to handle these types of situations without the 2-3 hour delays that are imposed to limit actual benefit to customers instead of the exchange operators. I love the idea of arbitrage, but good luck when sending coins takes 10x longer than it should because of shady exchanges.
Had that on friday, coin rising but until I got there, was over. Just a bubble.

Now what has been cause, what the effect? Was it bubbling because selling got artificially slowed down?

crypto 101 never leave ur crypto wealth on any online source.
Absolutely true. Well, minus wealth, perhaps.
TheMage
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November 22, 2014, 10:39:31 PM
 #39

Hopefully when Koinyx exchange comes out it will be able to handle these types of situations without the 2-3 hour delays that are imposed to limit actual benefit to customers instead of the exchange operators. I love the idea of arbitrage, but good luck when sending coins takes 10x longer than it should because of shady exchanges.


I can't guarantee downtime, but I can guarantee that we are not going to willy nilly delays (especially at critical times). Koinyx isn't going to be in the business of going all out and maximizing profits at the detriment of customers or crypto's as a whole. As a matter of fact, beyond the exchange we have plans to do much more that will greatly benefit cryptos (in the future of course)!




Koinyx will not be engaging in shady practices, at all.


They all say that...  Grin
The problem at some point is that you realize it is a lot of work for very small fee (and you decide to accept every ipo coinn for 3btc... )
Then you think you can make lots of money by using all the btc on the exchange and return them to their owner once done...
may work... may not... if may not... well if you have enough btc to reimburse then it is ok, if not the time for the "we've been hacked, I close" scam has came



Its a ton of work! However I believe that it will pay off in the future Smiley. We are also not going to accept bribes in order to list coins. We also are not going to engage in fractional reserve in any way shape or form. We do have future plans (way down the road) for other products that are not only going to be very synergistic to Koinyx, but will also help both the community and spread adoption of crypto currencies!

I believe I am fairly well trusted that people believe me when I say I am not going to engage in shady activity Smiley.

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November 24, 2014, 11:51:41 PM
 #40

Yep, put the funds in your wallets asap, thats what crypto is made for - empower the user in a decentralized fashion

Yes but exchanges are adding a lot of value to Bitcoin

It's also a good idea to keep coins off exchanges to reduce centralization and single points of failure.

Some of the cold storage wallets that I've found are absurdly huge.  Cool

http://bitcoinrichlist.com/top100
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