Topic: Abort Cryptsy - page 2. (Read 14458 times)

But doesnt have BTC volume for all coins in crypsty.com

Put BTE ByteCoin on this exchange!

I've been using this exchange for about a day with DGC, PWC, GLD, WDC and BTC

Works fine for me.

This devs of this exchange seem to have adding new coins down to a science. Out of all the exchanges out there. This is the only one I've actually bought coins on

Can you set up powecoin pool for us?

I agree on the pool part. The only pool I actually set up a donation. Still waiting on that 5k LKY block 

If you have ever mined on any of verns pools you'll find that they are well done. He codes his own stuff and has a community that feeds him info. He is an all around good guy who loves alt coins. Cryptsy is his beta exchange it is still BETA he is constantly working to make it better some really cool features on the way. Eventually he has mentioned he will add FIAT deposits etc. When vern calls cryptsy no longer a beta then complain about how its not what you like. For now features are added daily.

Additionally Vern has decided to only add coins after a week and only after speaking to the coin dev. I don't think anyone anticipated it could hurt the market I mean Vern is providing a service its the miners who dump for pennies not paying attention to profits that hurt the alt coins led by coinchoose and again I don't blame Sal he provides a tool that folks should use to assist not guide their decisions. Heck I use coinchoose all the time but I read between the lines on the exchange that is showing the prices and attempt to make educated decisions on the topic.

For you new miners out there don't dump your coins immediately hold and sell at the going rates you will probably make double your profit. Some folks out there I know aren't even covering the electric bill.

Anyhow my thoughts on the topic.

I totally agree with you man. There is too much drama on crypto altcoins. We should just stick to BTC.

It's impressive this guy can set up alt.coins into and exchange so fast, sometimes there isn't even a daemon.

FYI - PWC's 1500% profitability was a bug on my site (actually a crash in the PWC daemon which I made an error in my script to restart when the daemons crash).  I do filter out a bit on Crytpsy really tiny trades AND my hope is the market notices (as anyone should be able to write a bot that would equalize out the prices when people do dumb things like that - since Crytpsy has an inherent API that is easy to use.

I say let the noob alts fight for survival in the arena of Crypsty !!!

(Cue classic star trek arena battle theme music)

NO MERCY !!!! KILL!!! KILL!!! KILL!!!

I hate Cryptsy, with a passion. It is a joke exchange. People only use it, because it is super easy, t use it to manipulate prices of coins, to make them appear profitable on CoinChoose. PWC did it, and now GLD is doing it, and, since their are a lot of stupid people in the world, as we saw when PWC reported as 1500% profitable, people are wasting votes on GLD. I believe we should take a stand, and boycot Cryptsy, completely

When I started mining it was because I saw merit in the ideas behind bitcoin, but it was an experiment and I took the veiw that it was worth risking some time and energy on it. The coins I mined were hardly worth the cost of electricity, but as months passed those coins slowly gained value. When I mined litecoins it was much the same.

Let me give it to you straight... It ain't easy to make money... These new coins may have less resistance to development because of bitcoins successes but there must be development behind the currency.. not just the release of the client. And anybody can (and apparently will) release a coin so suddenly theres alot of competition... yada yada limited market capital.. blah blah debasement.

Personally I feel angry when someone who is doing something for cryptocurrency gets used as somebody's scapegoat when their get rich quick scheme doesn't come off as planned....

anyone lost a few words abour fees yet ? i mean that site just started and for that the fees are mighty high. maybe drop the fees for a promotional period to lure some btc in ?

Couldn't agree more. BTC and LTC can actually be used as intended, as a form of currency. Hence their fairly stable valuation. Everything else thus far, with maybe the exception of FTC which can actually be used with some retailers, are simple investment commodities. Their only real value is a speculated one. A value which is pegged against similar investment commodities with similar speculated value. The problem I see, is that even an honest to god coin with every intention of breaking the mold will simply fall prey to the pump and dump flash mining mentality. For every 1 person with an actual vested interest in cryptocurrencies, you have 100 who are simply here to pay the electric bill, break even on the hardware, and buy a case of beer.

I agree with the first part, however I think the "drop like a stone" is because miners are clueless and just want a sale, they will try and sell at what ever the top buyer is offering. Traders on the other hand have a buy price they don't want to sell lower than, but exchanges like Cryptsy are full of miners selling, not traders selling.

Let's get real; 90% of alts are created for the sole purpose of mine and dump. The value of a currency is dictated by it's usability. That's why BTC is so high, LTC has some value, other coins drop like a stone as soon as pump support dissapears, a couple of hours after they hit an exchange. No real world use == no value.

+1 agreed.

It's not scammy, it just lacks some pretty obvious features for traders, like volume info, long session timeouts, and a trollbox  

I also find the candlestick chart style hard to read, but that's personal taste. I like the line charts on bitcoinity.org

Even when there is no price movement the candlesticks have a bit of wick sticking out each end, the ones on BTC-e don't, so they look cleaner easier to glance. Also get rid of all the zeros padding to the right of each number, it's just visual noise that hinders readability. When you look at a coin trade page on Cryptsy, the first thing you see is zeros all over the place hundreds possibly thousands of zeros that simply don't need to be there. I don't see the point in representing 2,000  as 2000.00000000

I'm kinda on the fence about liking cryptsy or not...but I use several of Big Vern's pools and they are all well run imho.  I don't think he'd be up to something scammy or shady with cryptsy.  Again, just my opinion.

The irony is that you pointed out yourself this happens on just about every other exchange currently available. Same thing happens in real world trading. People TAKE advantage of, and people get TAKEN advantage of. For everything sold anywhere, someone is making a profit and someone is losing a possible opportunity for more. Doesn't matter if it's a penny stock, a car, real estate, or as in this case, a coin. Saying it's not market dictated because some people are better at it than others is like saying the NASDAQ isn't a free market because Warren Buffet is better at it than everyone else. Look at oil. Nothing is more systematically price controlled. yet people are still willing to pay for it. People will pay or sell at the price currently dictated by the market. No more and typically no less. Why the price point is where it is at is irrelevant if someone is still willing to trade. Would you prefer some sort of oversight committee? Maybe some sort of centralized regulatory commission? Isn't that what crypto's are trying to stay away from at their fundamental core?

Crazy how people try to make poor vern a villain hes about the straightest shooter I have met in the coin world.