[ANN] SMAC - Accounts have been suspended project closed

[boxxa]

The chain forked causing some orphan transactions around block 3446. From what I can tell, some hashpower entered and left the network.

Still waiting for some blocks. The orphan and slow blocks currently are being addressed as well with hash power entering and leaving but from the investigation, everything seems normal and there is no issues with the block chain, hidden blocks, or anything else scam related.

I am glad Bittrex has these alarms to raise issues before things get really bad. We are currently in a PoW/PoS phase now so blocks come from both. 1% PoS should come into full affect after PoW is done since all blocks are POS blocks.

I am also going to add stable hash power to the network to clean up block times. Sorry for any issues or concerns.

[paycum]

Thanks boxxa, there are always bumps in the road. But with communication like this, the storm will past away fast.

[boxxa]

Yea and we understand people are squimish. We are asking for a level of confidence since this projects behind the scene work takes a month before any real action and updates from the development phase.

We wanted to jump on this very fast and with the help, we seemed to have sort it out and confirm there is no issues, just some orphan transactions causing some flags.

[brightlight]

Feel a little bit bad saying those things about Bittrex, but still I am mad because of their GRID listing and allowing it to be kept with self trades at the first place for days. I got profit from it, so don't think I am mad because of loss. All this scam support spoils overall cryptoworld, threatens legit coin development. Bittrex is one of the trading game big hosters, so listing scams brings accomplice status to them.


GRID was trading with 5700 times of ICO price gain. Wasn't it strange and needless for precaution?

[boxxa]

Feel a little bit bad saying those things about Bittrex, but still I am mad because of their GRID listing and allowing it to be kept with self trades at the first place for days. I got profit from it, so don't think I am mad because of loss. All this scam support spoils overall cryptoworld, threatens legit coin development. Bittrex is one of the trading game big hosters, so listing scams brings accomplice status to them.

I used to complain about them as well when I got burned on some of their adds that had hidden blocks and premines. I even closed my account with them I got so pissed. They have come a long way and I was able to get a hold of Richie right away to work with him and confirm there is nothing malicious or hidden in our block chain. I have a new found respect for them and Richie has been awesome to work with. They are pretty awesome whatever value my opinion holds. Haha.

[richiela]

Feel a little bit bad saying those things about Bittrex, but still I am mad because of their GRID listing and allowing it to be kept with self trades at the first place for days. I got profit from it, so don't think I am mad because of loss. All this scam support spoils overall cryptoworld, threatens legit coin development. Bittrex is one of the trading game big hosters, so listing scams brings accomplice status to them.

I used to complain about them as well when I got burned on some of their adds that had hidden blocks and premines. I even closed my account with them I got so pissed. They have come a long way and I was able to get a hold of Richie right away to work with him and confirm there is nothing malicious or hidden in our block chain. I have a new found respect for them and Richie has been awesome to work with. They are pretty awesome whatever value my opinion holds. Haha.

Thanks for the support boxxa.

And brightlight.... I don't want to pollute this thread with this discussion and you are welcome to find my on irc at any time; but, we don't have a crystal ball to predict what is a 'scam' coin and what isn't.  We list coins our customers demand and have instituted in a large number of detections and alarms to protect you on potential problems, like what you saw today.  We get hurt by these 'scam' coins as well, so we don't have any desire to list them anymore than you have to trade them. 

Please do refer to my post on this subject from months ago - https://bittrex.zendesk.com/hc/en-us/articles/202849754-Our-responsibility-to-you

If we ever fail in our responsibility, please let me know.

thanks,
richie

[richiela]

In an effort to not lock up funds, we are re-opening the market.  The wallet will reopen once we verify the blockchain health.  If you have a deposits/withdrawal issue, please wait till we reopen the wallet and cut us a ticket.

thanks,
richie

[brightlight]

Feel a little bit bad saying those things about Bittrex, but still I am mad because of their GRID listing and allowing it to be kept with self trades at the first place for days. I got profit from it, so don't think I am mad because of loss. All this scam support spoils overall cryptoworld, threatens legit coin development. Bittrex is one of the trading game big hosters, so listing scams brings accomplice status to them.

I used to complain about them as well when I got burned on some of their adds that had hidden blocks and premines. I even closed my account with them I got so pissed. They have come a long way and I was able to get a hold of Richie right away to work with him and confirm there is nothing malicious or hidden in our block chain. I have a new found respect for them and Richie has been awesome to work with. They are pretty awesome whatever value my opinion holds. Haha.

Thanks for the support boxxa.

And brightlight.... I don't want to pollute this thread with this discussion and you are welcome to find my on irc at any time; but, we don't have a crystal ball to predict what is a 'scam' coin and what isn't.  We list coins our customers demand and have instituted in a large number of detections and alarms to protect you on potential problems, like what you saw today.  We get hurt by these 'scam' coins as well, so we don't have any desire to list them anymore than you have to trade them. 

Please do refer to my post on this subject from months ago - https://bittrex.zendesk.com/hc/en-us/articles/202849754-Our-responsibility-to-you

If we ever fail in our responsibility, please let me know.

thanks,
richie

You don't have a crystal ball, but you have to list the coins that are somehow matured. Bittrex includes almost every new coin. Let those prove themselves in smaller exchanges.
Of course, money is the key answer to that. More trades means higher income without care for customers.

Anyway, thanks for developed system that catches such things that happened in SMAC blockchain.

[paycum]

Feel a little bit bad saying those things about Bittrex, but still I am mad because of their GRID listing and allowing it to be kept with self trades at the first place for days. I got profit from it, so don't think I am mad because of loss. All this scam support spoils overall cryptoworld, threatens legit coin development. Bittrex is one of the trading game big hosters, so listing scams brings accomplice status to them.

I used to complain about them as well when I got burned on some of their adds that had hidden blocks and premines. I even closed my account with them I got so pissed. They have come a long way and I was able to get a hold of Richie right away to work with him and confirm there is nothing malicious or hidden in our block chain. I have a new found respect for them and Richie has been awesome to work with. They are pretty awesome whatever value my opinion holds. Haha.

Thanks for the support boxxa.

And brightlight.... I don't want to pollute this thread with this discussion and you are welcome to find my on irc at any time; but, we don't have a crystal ball to predict what is a 'scam' coin and what isn't.  We list coins our customers demand and have instituted in a large number of detections and alarms to protect you on potential problems, like what you saw today.  We get hurt by these 'scam' coins as well, so we don't have any desire to list them anymore than you have to trade them.  

Please do refer to my post on this subject from months ago - https://bittrex.zendesk.com/hc/en-us/articles/202849754-Our-responsibility-to-you

If we ever fail in our responsibility, please let me know.

thanks,
richie

You don't have a crystal ball, but you have to list the coins that are somehow matured. Bittrex includes almost every new coin. Let those prove themselves in smaller exchanges.
Of course, money is the key answer to that. More trades means higher income without care for customers.

Anyway, thanks for developed system that catches such things that happened in SMAC blockchain.

Well obviously an exchange have to do there best to take precautions which in my opinion bittrex does great. But scams will be there if you like it or not as long as there are no regulations in game.

But i think a lot of the responsibillity lies with people themselves. You can also turn your story around. If it is a new coin let it mature first before you invest in it. Most people make a choice. they choose to risk money because with new coins there is a big chance on getting a huge profit... some prety lines of text and people already send some btc. In my opinion you can not complain when things turn out badly then..you knew it was a risk and you knew there are a lot of scams in crypto world.

Im not saying its a good thing, but its too easy to blame the exchanges.

But a easy solution will be that exchange will ask every dev to supply them with their company info like any other company does. So basically:

- proof of residence
- copy of passport
- copy of utillity bill
- bank statements for the last three monhs
- vat number
- company registration number

Some might say this looks to much but everyone who takes his coin serious shouldnt have any problem with that. And it only costs a few bucks to open up a company so that cant be a problem. At least everybody knows then who is behind the coin. That doesnt solve everything as there will always be fake companies, but it will make it a bit harder too fraud.

Now its just to easy. you buy a 100usd coin script and you can start an ico tomorrow..

[Soul_eater_123]

In an effort to not lock up funds, we are re-opening the market.  The wallet will reopen once we verify the blockchain health.  If you have a deposits/withdrawal issue, please wait till we reopen the wallet and cut us a ticket.

thanks,
richie

Thanks for getting this sorted out.  I know we give you guys a lot of flack but you have always been trustworthy and done the right thing.  It's just in these times we all have to be over-paranoid with anything we have on exchanges - many of us have been bitten before by others whom we assumed were trustworthy (Mintpal etc.)

[HKBvM]

I pretty much agree, that it is not the responsibility of an exchange to decide what altcoin is a scam. Lets get real, most of them are scams in one way or another either via premines/hidden blocks or devs leaving after days after they instamined and dumped their own coins, devs running with ICOs and so on.

It is problematic though, when you allow coins to pay to get listed. This probably was the case with gridpay, as there was no community whatsoever behind it. Paying to get listed opens up a nice way even for the biggest scams to get listed. Without that option gridpay would not have happened. I still have zero sympathy with anyone who was dumb enough to lose money on that.

I apologize if I am wrong and gridpay didnt pay to get listed and sorry for derailing the thread.


And more generally speaking, we are all here looking for 50%+ returns. There has to be a huge risk associated with that and scams are part of that risk.

[richiela]

You don't have a crystal ball, but you have to list the coins that are somehow matured. Bittrex includes almost every new coin. Let those prove themselves in smaller exchanges.
Of course, money is the key answer to that. More trades means higher income without care for customers.

Anyway, thanks for developed system that catches such things that happened in SMAC blockchain.

That's actually an interesting point.  Bittrex got to where we are today because we did things mintpay/cr/whoever didn't do.  We listed as many coins as we could to give as many coin devs a chance as possible.  That is why we were successful in dethroning some of the other existing exchanges (at least that's my opinion).

This tenet gave life to coins that still exist today such as URO, XWC, VRC and a myriad of other coins, that might not have had a chance elsewise.  It might be an argument that we are now an industry leader and have to play by a different set of rules; however, i believe if we don't continue to obsess about our customers needs, we will become as antiquated as our aforementioned competitors.

Money isn't the answer to any question btw... If you think the .25% we make off any coin is worth the work, trouble and PR damage it causes, I can assure you, that it isn't   We have done everything we can in the form of additional security checks, code reviews, and compliance requirements ( boxxa can unfortunately attest to) to weed out as much 'scam' as possible, but nothing is 100%.  If you have suggestions on things we can do to protect our customers, I'm more than happy to listen to them. Our motivation isn't as simple as money or volume; we want to continue to innovate and be an industry leader.

richie
PS. and this is why i stay off BCT.  I end up getting don't know how to not respond to things

[richiela]

Feel a little bit bad saying those things about Bittrex, but still I am mad because of their GRID listing and allowing it to be kept with self trades at the first place for days. I got profit from it, so don't think I am mad because of loss. All this scam support spoils overall cryptoworld, threatens legit coin development. Bittrex is one of the trading game big hosters, so listing scams brings accomplice status to them.

I used to complain about them as well when I got burned on some of their adds that had hidden blocks and premines. I even closed my account with them I got so pissed. They have come a long way and I was able to get a hold of Richie right away to work with him and confirm there is nothing malicious or hidden in our block chain. I have a new found respect for them and Richie has been awesome to work with. They are pretty awesome whatever value my opinion holds. Haha.

Thanks for the support boxxa.

And brightlight.... I don't want to pollute this thread with this discussion and you are welcome to find my on irc at any time; but, we don't have a crystal ball to predict what is a 'scam' coin and what isn't.  We list coins our customers demand and have instituted in a large number of detections and alarms to protect you on potential problems, like what you saw today.  We get hurt by these 'scam' coins as well, so we don't have any desire to list them anymore than you have to trade them.  

Please do refer to my post on this subject from months ago - https://bittrex.zendesk.com/hc/en-us/articles/202849754-Our-responsibility-to-you

If we ever fail in our responsibility, please let me know.

thanks,
richie

You don't have a crystal ball, but you have to list the coins that are somehow matured. Bittrex includes almost every new coin. Let those prove themselves in smaller exchanges.
Of course, money is the key answer to that. More trades means higher income without care for customers.

Anyway, thanks for developed system that catches such things that happened in SMAC blockchain.

Well obviously an exchange have to do there best to take precautions which in my opinion bittrex does great. But scams will be there if you like it or not as long as there are no regulations in game.

But i think a lot of the responsibillity lies with people themselves. You can also turn your story around. If it is a new coin let it mature first before you invest in it. Most people make a choice. they choose to risk money because with new coins there is a big chance on getting a huge profit... some prety lines of text and people already send some btc. In my opinion you can not complain when things turn out badly then..you knew it was a risk and you knew there are a lot of scams in crypto world.

Im not saying its a good thing, but its too easy to blame the exchanges.

But a easy solution will be that exchange will ask every dev to supply them with their company info like any other company does. So basically:

- proof of residence
- copy of passport
- copy of utillity bill
- bank statements for the last three monhs
- vat number
- company registration number

Some might say this looks to much but everyone who takes his coin serious shouldnt have any problem with that. And it only costs a few bucks to open up a company so that cant be a problem. At least everybody knows then who is behind the coin. That doesnt solve everything as there will always be fake companies, but it will make it a bit harder too fraud.

Now its just to easy. you buy a 100usd coin script and you can start an ico tomorrow..

This is the idea behind PoD... Developers that want additional trust can get that accreditation if they want and present it in their ANN.  Users can easily decide not to trade a coin that doesn't have PoD.  I know we can take a stance not to trade anything without PoD, but that makes us a central authority which we'd rather not be.  Plus bitcoin would need one

[brightlight]

You don't have a crystal ball, but you have to list the coins that are somehow matured. Bittrex includes almost every new coin. Let those prove themselves in smaller exchanges.
Of course, money is the key answer to that. More trades means higher income without care for customers.

Anyway, thanks for developed system that catches such things that happened in SMAC blockchain.

That's actually an interesting point.  Bittrex got to where we are today because we did things mintpay/cr/whoever didn't do.  We listed as many coins as we could to give as many coin devs a chance as possible.  That is why we were successful in dethroning some of the other existing exchanges (at least that's my opinion).

This tenet gave life to coins that still exist today such as URO, XWC, VRC and a myriad of other coins, that might not have had a chance elsewise.  It might be an argument that we are now an industry leader and have to play by a different set of rules; however, i believe if we don't continue to obsess about our customers needs, we will become as antiquated as our aforementioned competitors.

Money isn't the answer to any question btw... If you think the .25% we make off any coin is worth the work, trouble and PR damage it causes, I can assure you, that it isn't   We have done everything we can in the form of additional security checks, code reviews, and compliance requirements ( boxxa can unfortunately attest to) to weed out as much 'scam' as possible, but nothing is 100%.  If you have suggestions on things we can do to protect our customers, I'm more than happy to listen to them. Our motivation isn't as simple as money or volume; we want to continue to innovate and be an industry leader.

richie
PS. and this is why i stay off BCT.  I end up getting don't know how to not respond to things

Thank you for response!

Wish you the best with Bittrex development and support. I know it's hard and difficult job. Hope to see that Bittrex someday not dissapear, but in opposite brings to us something trully innovative regarding trading.

[brightlight]

Btw, recent problems shaked things up. We now see, that developers are here and are ready to respond quite fast. Believable that they are preparing things for investors behind scenes.

[Soul_eater_123]

You don't have a crystal ball, but you have to list the coins that are somehow matured. Bittrex includes almost every new coin. Let those prove themselves in smaller exchanges.
Of course, money is the key answer to that. More trades means higher income without care for customers.

Anyway, thanks for developed system that catches such things that happened in SMAC blockchain.

That's actually an interesting point.  Bittrex got to where we are today because we did things mintpay/cr/whoever didn't do.  We listed as many coins as we could to give as many coin devs a chance as possible.  That is why we were successful in dethroning some of the other existing exchanges (at least that's my opinion).

This tenet gave life to coins that still exist today such as URO, XWC, VRC and a myriad of other coins, that might not have had a chance elsewise.  It might be an argument that we are now an industry leader and have to play by a different set of rules; however, i believe if we don't continue to obsess about our customers needs, we will become as antiquated as our aforementioned competitors.

Money isn't the answer to any question btw... If you think the .25% we make off any coin is worth the work, trouble and PR damage it causes, I can assure you, that it isn't   We have done everything we can in the form of additional security checks, code reviews, and compliance requirements ( boxxa can unfortunately attest to) to weed out as much 'scam' as possible, but nothing is 100%.  If you have suggestions on things we can do to protect our customers, I'm more than happy to listen to them. Our motivation isn't as simple as money or volume; we want to continue to innovate and be an industry leader.

richie
PS. and this is why i stay off BCT.  I end up getting don't know how to not respond to things

I still don't understand how you make money!  Or indeed why you do it but I have used you from the beginning and have always been pleased with the service.  

The only problems relate more to fellow exchange users (- bots drive me crazy for one thing) and obviously the market manipulations of people buying and selling to themselves that occur but I'm not sure what can be done about that sort of stuff.  

It's sad that you get the grief for other exchanges failures.  

Unfortunately there have been so many "thefts" which I think are the equivalent of the old scam of burning your house down and claiming the insurance money that it is hard for people to trust anyone with their coins.

I still only deviate from using Bittrex when I have to (i.e. it is an unlisted coin) and as long as you keep the security up I will continue to do so.

[boxxa]

Still working to move blocks along. Adding hash power to the network and will bring blocks more consistent through the PoW phase until we transition over to full PoW. Until we get consistent blocks on the explorer, I would suggest not moving coins. Will update shortly.

[boxxa]

Blocks are moving now for PoW.

Anyone willing to setup a pool can help keep them more consistent and support the network. For right now, mining is going and will continue to monitor.

[paycum]

thanks for the update again! i have no idea how to setup a pool so im afraid im not much of a help for this...

[SimkoMiner]

What is the last block guys? I have feeling I'm on wrong fork as I'm mining solo almost all blocks. Is there some block explorer?