is there a reason why Cryptsy doesn't host ICOs?

[sdersdf3]

Curious - is there a particular reason why Cryptsy doesn't host ICOs?

[1715390719]

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[1715390719]

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[1715390719]

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[dragnar]

Curious - is there a particular reason why Cryptsy doesn't host ICOs?

maybe they don't wanna risk getting sued cus of hosting scams ?

[var53]

Curious - is there a particular reason why Cryptsy doesn't host ICOs?

maybe they don't wanna risk getting sued cus of hosting scams ?

Cryptsy is located in the USA where the SEC might consider ICOs as selling unregistered securities. Any company there doing ICOs could find themselves in deep shit which is why Ethereum postponed their ICO. They eventually took legal advice to do it well away from America to avoid the risk of prosecution.

[Spoetnik]

i agree with the answers but i have also thought before it was because they may have to write code for the site etc.
it's possible they may still and had been working on an infrastructure for it all but didn't launch it yet.. i'm guessing big time

[BitJohn]

We have a policy in place currently that will will not host ICO's, IPO's. There is no plan in place to create the mechanisms to do so either.

We do not feel it is a service that is beneficial to our customers.

[pikuchato]

We have a policy in place currently that will will not host ICO's, IPO's. There is no plan in place to create the mechanisms to do so either.

We do not feel it is a service that is beneficial to our customers.

Haters gonna hate, but in my opinion cryptsy is the only legit (alternate cryptocurrencies) exchange.

[atp1916]

It's because 99% of all ICOs and IPOs are scams.  Cryptsy is wise not to get sucked into all of that monkey business.

[sdersdf3]

It's because 99% of all ICOs and IPOs are scams.  Cryptsy is wise not to get sucked into all of that monkey business.

A lot of them are, certainly, but they seem to be the only way of getting in on the ground floor unless you're a mining guru with serious (and expensive) equipment and there have been some notable exceptions to the scams - NEM, Nxtty, Counterparty, Storj, Ethereum? I think part of the attraction to ICOs has been having an alternative to POW-related miner dumps.

[sherbyspark]

Bittrex in the past couple days has had lot of people complaining of hosting ICO's that end up as scam. And due to this, some people have left it. I believe Cryptsy would not want such a thing to happen to their name.

[bajing]

Bittrex in the past couple days has had lot of people complaining of hosting ICO's that end up as scam. And due to this, some people have left it. I believe Cryptsy would not want such a thing to happen to their name.

i guess not all ico's scam, you can take profit for short term

[dragnar]

It's because 99% of all ICOs and IPOs are scams.  Cryptsy is wise not to get sucked into all of that monkey business.

A lot of them are, certainly, but they seem to be the only way of getting in on the ground floor unless you're a mining guru with serious (and expensive) equipment and there have been some notable exceptions to the scam, NEM, Nxtty, Counterparty, Storj, Ethereum? I think part of the attraction to ICOs has been an alternative to POW-related miner dumps.

Ethereum not a scam  i wonder the moved there shit outside of the usa cus of new prosecutions there so yea

[JackRipper]

Bittrex in the past couple days has had lot of people complaining of hosting ICO's that end up as scam. And due to this, some people have left it. I believe Cryptsy would not want such a thing to happen to their name.

i guess not all ico's scam, you can take profit for short term

Not all premines are scams either, but more and more people are staying away from coins with a premine. An IPO/ICO is simply a premine with a pre-dump.

[djm34]

Bittrex in the past couple days has had lot of people complaining of hosting ICO's that end up as scam. And due to this, some people have left it. I believe Cryptsy would not want such a thing to happen to their name.

i guess not all ico's scam, you can take profit for short term

 
I am pretty sure that the very first clients of Madoff made some profit with the money of the next
Yes you can make profit out of a pyramidal scheme or a ponzi scheme but they are still frauds  

[rokkyroad]

Kudos to Cryptsy.

No ICOs.
They don't go delist crazy like some of the competition.

[sdersdf3]

It's because 99% of all ICOs and IPOs are scams.  Cryptsy is wise not to get sucked into all of that monkey business.

A lot of them are, certainly, but they seem to be the only way of getting in on the ground floor unless you're a mining guru with serious (and expensive) equipment and there have been some notable exceptions to the scam, NEM, Nxtty, Counterparty, Storj, Ethereum? I think part of the attraction to ICOs has been an alternative to POW-related miner dumps.

Ethereum not a scam  i wonder the moved there shit outside of the usa cus of new prosecutions there so yea

Is the US's regulatory system inherently more legitimate than that of the Swiss?

[Spoetnik]

Bittrex in the past couple days has had lot of people complaining of hosting ICO's that end up as scam. And due to this, some people have left it. I believe Cryptsy would not want such a thing to happen to their name.

i guess not all ico's scam, you can take profit for short term

I have heard that retort around here for ages.. and i still think it's bullshit.

Think of it this way banks can leave the ATM machines setup so people can take what they want using the honor system.. but they don't !
Yeah i know a bad analogy, but think about it
There would be people in that scenario that WOULD be honest and take only the money they own etc.
But we all know it would be abused so bad and so fast that the bank would broke and out of business by the end of the day LOL
And that is my stance on this IPO/ICO/ITO shit.. Fuck 'em all !

Thanks for the info BitJohn and props to Cryptsy

[Zer0Sum]

We have a policy in place currently that will will not host ICO's, IPO's. There is no plan in place to create the mechanisms to do so either.

We do not feel it is a service that is beneficial to our customers.

Satoshi Nakamoto felt that decentralization and anon was beneficial to his customers.

Cryptsy public Business Plan is the exact opposite...
Partner closely with the US Govt, State of Florida, FinCEN, NSA and IRS to completely subvert Satoshi's vision...

All for the money, baby. Money talks... idealism walks.

What is far more likely is the Mt Gox scenario...
With 40 employees already and exploding regulatory and reporting costs...
Look at their pathetic USD volume, do the math... and they are hemorrhaging money.

[Spoetnik]

We have a policy in place currently that will will not host ICO's, IPO's. There is no plan in place to create the mechanisms to do so either.

We do not feel it is a service that is beneficial to our customers.

Satoshi Nakamoto felt that decentralization and anon was beneficial to his customers.

Cryptsy public Business Plan is the exact opposite...
Partner closely with the US Govt, State of Florida, FinCEN, NSA and IRS to completely subvert Satoshi's vision...

All for the money, baby. Money talks... idealism walks.

What is far more likely is the Mt Gox scenario...
With 40 employees already and exploding regulatory and reporting costs...
Look at their pathetic USD volume, do the math... and they are hemorrhaging money.

If you want bash Cryptsy you can't fault them for complying with standard practice when it comes to money regulations.
They knew Regulations was coming and they did what they had to before they were forced to do it.
Either you follow US law or your done.. game over.
And USA financial laws are gradually getting integrated into crypto.. they knew damn well what was looming and took measures to be a step ahead.
So if you want to fault someone fault the United States of America !!!

Are they going out of business ? Not when i see / calculate the amount they *may make off of Bitcoin TX fee's LOL
That alone could prob pay for all their staff hhahaa
All they have to is charge each guy 0.0005 each for a TX then bundle 100 TX's together and pay one fee of 0.0001 once and keep the rest..
Just a random example

If they did go out of business i hope they don't pull a GOX and claim hackers stole their Bitcoin then find it stuffed in their couch cushions.
Zer0Sum you said.. "they are hemorrhaging money"
Extraordinary claims require..
True ? i have not seen any indication of that and making claims like that should be backed up with some proof other than low volumes.
How do you know their true operating cost etc ? See what i mean ?
I have no idea about that stuff but i have not seen any hard facts so crucifying them on 100% speculation is not very fair.

I have been using Bittrex for some time now too and not Cryptsy and a big reason was they did not have Jackpot Coin at Cryptsy

Anyway.. The fact that Cryptsy did not dive on the IPO shit makes Nazi Cat think it was a Miracle !

[Crestington]

I already know that cryptsy would never host ICO's because regulations are heading in the same direction as the stock market. You cannot regulate crypto but you can regulate exchanges and the potential for an ICO to be a scam is too great to be personally involved and slide that slippery slope. I have not always seen eye to eye with Cryptsy but I respect them for having enough sense not to be involved in unregulated ICO's.

[Spoetnik]

I already know that cryptsy would never host ICO's because regulations are heading in the same direction as the stock market. You cannot regulate crypto but you can regulate exchanges and the potential for an ICO to be a scam is too great to be personally involved and slide that slippery slope. I have not always seen eye to eye with Cryptsy but I respect them for having enough sense not to be involved in unregulated ICO's.

LOL That is what i was thinking exactly but some how i went on a rant and posted a picture of Nazi cat hahahha
Well said though i knew we seen eye to eye on a lot of this stuff