Bad Day for Bitcoin. Cryptsy finally admitted theft and Mike Hearn tells truth - page 4.

eternalgloom

legendary

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Quote from: gravitate on January 15, 2016, 09:00:05 AM

For everyone who holds bitcoin well done I take my hat off to you. But I am afraid the same will happen as when all the other major exchanges were hacked. Its not exactly in the news yet. Probably the big boys are getting rid of their stash until they start with the big announcement. Cryptsy was one of the main exchanges whether you like it or not and they do not even know how they were hacked. Its scary for everyone. I will come back on this thread to tomorrow and I can bet you any money it has gone down at least by 20%.. Hopefully it will recover as people say but it wont be unaffected by such a big exchange going down. Sorry ANOTHER big exchange going down.

Anyway its all speculation but when this has happened time and time again that's just the way it goes.

In terms of volume, what kind of marketshare did they have? I don't personally know that many people who were still using Cryptsy to be completely honest, I really though most people had switched to an exchange with less issues.

Having said that, I never liked Cryptsy, even before the scam accusations. I always thought their UI was crap and using their website wasn't a good experience.

gravitate

legendary

Activity: 1372

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Quote from: mayax on January 15, 2016, 09:36:50 AM

Quote from: Asulect on January 15, 2016, 09:26:37 AM

Quote from: mayax on January 15, 2016, 09:22:04 AM

now, the BTC price is going down fast. if "you" won't sell, you will regret.

not selling. will buy more if it go below 200.

if you won't sell your BTC now, what will you earn when it will go below 200?

So, sell now, take the profit and wait until BTC will be near 200.

Wow dropped 15 euros in 10 minutes on Kraken. Now at 352 Euros. That is 1/4 of everyones money gone so far today. Now just wait until Cryptsy hits the main media... Or is america just waking up to this....

mayax

legendary

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Quote from: Asulect on January 15, 2016, 09:26:37 AM

Quote from: mayax on January 15, 2016, 09:22:04 AM

now, the BTC price is going down fast. if "you" won't sell, you will regret.

not selling. will buy more if it go below 200.

if you won't sell your BTC now, what will you earn when it will go below 200?

So, sell now, take the profit and wait until BTC will be near 200.

Asulect

newbie

Activity: 38

Merit: 0

Quote from: mayax on January 15, 2016, 09:22:04 AM

now, the BTC price is going down fast. if "you" won't sell, you will regret.

not selling. will buy more if it go below 200.

wttbs

legendary

Activity: 2210

Merit: 1109

Quote from: mayax on January 15, 2016, 09:22:04 AM

Quote from: wttbs on January 15, 2016, 09:18:21 AM

Quote from: gravitate on January 15, 2016, 09:00:05 AM

For everyone who holds bitcoin well done I take my hat off to you. But I am afraid the same will happen as when all the other major exchanges were hacked. Its not exactly in the news yet. Probably the big boys are getting rid of their stash until they start with the big announcement. Cryptsy was one of the main exchanges whether you like it or not and they do not even know how they were hacked. Its scary for everyone. I will come back on this thread to tomorrow and I can bet you any money it has gone down at least by 20%.. Hopefully it will recover as people say but it wont be unaffected by such a big exchange going down. Sorry ANOTHER big exchange going down.

Anyway its all speculation but when this has happened time and time again that's just the way it goes.

I never trusted Cryptsy 100% and always looked at it as a hobby-exchange run by people who aren't experts. I traded some coins there in the past but always withdrawed my coins same hour/day. Most exchanges are always a risk, I believe BTC-E will go down in the future and some smaller exchanges too. The only one I trust is Kraken.com . Anyway, 1 golden rule (for me) never leave (many) coins at an exchange wallet, and don't trade with "money" you can't afford to loose.

very good point.

now, the BTC price is going down fast. if "you" won't sell, you will regret.

I won't regret I will not sell my BTC now Grin

gravitate

legendary

Activity: 1372

Merit: 1000

Quote from: wttbs on January 15, 2016, 09:18:21 AM

Quote from: gravitate on January 15, 2016, 09:00:05 AM

For everyone who holds bitcoin well done I take my hat off to you. But I am afraid the same will happen as when all the other major exchanges were hacked. Its not exactly in the news yet. Probably the big boys are getting rid of their stash until they start with the big announcement. Cryptsy was one of the main exchanges whether you like it or not and they do not even know how they were hacked. Its scary for everyone. I will come back on this thread to tomorrow and I can bet you any money it has gone down at least by 20%.. Hopefully it will recover as people say but it wont be unaffected by such a big exchange going down. Sorry ANOTHER big exchange going down.

Anyway its all speculation but when this has happened time and time again that's just the way it goes.

I never trusted Cryptsy 100% and always looked at it as a hobby-exchange run by people who aren't experts. I traded some coins there in the past but always withdrawed my coins same hour/day. Most exchanges are always a risk, I believe BTC-E will go down in the future and some smaller exchanges too. The only one I trust is Kraken.com . Anyway, 1 golden rule (for me) never leave (many) coins at an exchange wallet, and don't trade with "money" you can't afford to loose.

I like you trust Kraken and coinbase. If you look on Kraken the Euro price is plummeting. How far nobody knows but I am still glad I sold

Even www.bitbargain.co.uk is going down. I am selling my last 0.4 on Bitbargain.co.uk so anyone wants to buy it then its yours (i am just going on the exchange price which is dirt cheap).

mayax

legendary

Activity: 1456

Merit: 1004

Quote from: wttbs on January 15, 2016, 09:18:21 AM

Quote from: gravitate on January 15, 2016, 09:00:05 AM

For everyone who holds bitcoin well done I take my hat off to you. But I am afraid the same will happen as when all the other major exchanges were hacked. Its not exactly in the news yet. Probably the big boys are getting rid of their stash until they start with the big announcement. Cryptsy was one of the main exchanges whether you like it or not and they do not even know how they were hacked. Its scary for everyone. I will come back on this thread to tomorrow and I can bet you any money it has gone down at least by 20%.. Hopefully it will recover as people say but it wont be unaffected by such a big exchange going down. Sorry ANOTHER big exchange going down.

Anyway its all speculation but when this has happened time and time again that's just the way it goes.

I never trusted Cryptsy 100% and always looked at it as a hobby-exchange run by people who aren't experts. I traded some coins there in the past but always withdrawed my coins same hour/day. Most exchanges are always a risk, I believe BTC-E will go down in the future and some smaller exchanges too. The only one I trust is Kraken.com . Anyway, 1 golden rule (for me) never leave (many) coins at an exchange wallet, and don't trade with "money" you can't afford to loose.

very good point.

now, the BTC price is going down fast. if "you" won't sell, you will regret.

wttbs

legendary

Activity: 2210

Merit: 1109

Quote from: gravitate on January 15, 2016, 09:00:05 AM

For everyone who holds bitcoin well done I take my hat off to you. But I am afraid the same will happen as when all the other major exchanges were hacked. Its not exactly in the news yet. Probably the big boys are getting rid of their stash until they start with the big announcement. Cryptsy was one of the main exchanges whether you like it or not and they do not even know how they were hacked. Its scary for everyone. I will come back on this thread to tomorrow and I can bet you any money it has gone down at least by 20%.. Hopefully it will recover as people say but it wont be unaffected by such a big exchange going down. Sorry ANOTHER big exchange going down.

Anyway its all speculation but when this has happened time and time again that's just the way it goes.

I never trusted Cryptsy 100% and always looked at it as a hobby-exchange run by people who aren't experts. I traded some coins there in the past but always withdrawed my coins same hour/day. Most exchanges are always a risk, I believe BTC-E will go down in the future and some smaller exchanges too. The only one I trust is Kraken.com . Anyway, 1 golden rule (for me) never leave (many) coins at an exchange wallet, and don't trade with "money" you can't afford to loose.

mayax

legendary

Activity: 1456

Merit: 1004

Sell your Bitcoin now or you will have big losses.

gravitate

legendary

Activity: 1372

Merit: 1000

For everyone who holds bitcoin well done I take my hat off to you. But I am afraid the same will happen as when all the other major exchanges were hacked. Its not exactly in the news yet. Probably the big boys are getting rid of their stash until they start with the big announcement. Cryptsy was one of the main exchanges whether you like it or not and they do not even know how they were hacked. Its scary for everyone. I will come back on this thread to tomorrow and I can bet you any money it has gone down at least by 20%.. Hopefully it will recover as people say but it wont be unaffected by such a big exchange going down. Sorry ANOTHER big exchange going down.

Anyway its all speculation but when this has happened time and time again that's just the way it goes.

greysorc

newbie

Activity: 8

Merit: 0

Well. I dont post here much, all i do is read... but this got my attention... i believe this is just a crisis, and it will be fixed... lets hope for the best.

Asulect

newbie

Activity: 38

Merit: 0

Quote from: Amph on January 15, 2016, 08:28:22 AM

Quote from: Asulect on January 15, 2016, 08:15:33 AM

Quote from: Amph on January 15, 2016, 07:44:54 AM

$30 loss, come on, people are afraid for such thing really? they have not the right to hold then

This is only the first day. The damage will probably sip in much longer than that. But, I do want to buy more if bitcoin drop below 200 again.

it won't i see 30 as a very stable value even 350, and in any case those will be drop of few hours day, it will recover quickly

also Mike is just rage quitting because Xt was not approved that's the story

I don't see a quick recovery unless there is a new breakthrough. In fact, we have never even recovered back to the same level before Gox failed, and that was almost 2 years ago.

Boelens

hero member

Activity: 672

Merit: 500

Quote from: Amph on January 15, 2016, 08:28:22 AM

Quote from: Asulect on January 15, 2016, 08:15:33 AM

Quote from: Amph on January 15, 2016, 07:44:54 AM

$30 loss, come on, people are afraid for such thing really? they have not the right to hold then

This is only the first day. The damage will probably sip in much longer than that. But, I do want to buy more if bitcoin drop below 200 again.

it won't i see 30 as a very stable value even 350, and in any case those will be drop of few hours day, it will recover quickly

also Mike is just rage quitting because Xt was not approved that's the story

I can see a drop to 300 happening, seems pretty plausible with the current events unfolding and panic selling. Might not recover that quickly honestly, regardless of why he ragequit this is a pretty major blow to bitcoin.

Amph

legendary

Activity: 3206

Merit: 1069

Quote from: Asulect on January 15, 2016, 08:15:33 AM

Quote from: Amph on January 15, 2016, 07:44:54 AM

$30 loss, come on, people are afraid for such thing really? they have not the right to hold then

This is only the first day. The damage will probably sip in much longer than that. But, I do want to buy more if bitcoin drop below 200 again.

it won't i see 30 as a very stable value even 350, and in any case those will be drop of few hours day, it will recover quickly

also Mike is just rage quitting because Xt was not approved that's the story

rich93

full member

Activity: 595

Merit: 101

Chromia - Relational Blockchain

Half the alts on Cryptsy were only traded there. Its bankruptcy will kill them all unless the coins held by Cryptsy are returned. Will Big Vern hide China and dump the remaining Cryptsy Bitcoins and the alts trade-able on other exchanges? The SEC is going after some Cryptsy staff which probably includes Big Vern, so he might run.

maku

legendary

Activity: 1288

Merit: 1000

Quote from: Asulect on January 15, 2016, 08:15:33 AM

Quote from: Amph on January 15, 2016, 07:44:54 AM

$30 loss, come on, people are afraid for such thing really? they have not the right to hold then

This is only the first day. The damage will probably sip in much longer than that. But, I do want to buy more if bitcoin drop below 200 again.

Wait, so this news is so dangerous that bitcoin price will be that low? I don't belive it, we had many scams and problems before and bitcoin always survived.
I don't think that Cryptsy theft is any more problematic than Mt.Gox fall ever have been.

dhimasnk

hero member

Activity: 546

Merit: 500

yeah, this is bad news. But hopefully bitcoin can survive despite facing various problems

WENGER

sr. member

Activity: 274

Merit: 250

Negative rating was requested by me (SFR10)

The thing about the whole system that makes Bitcoin as whole is, it was never a perfect one as there's no such thing as an assurance that no exploits will be found or for the matter (hack problems) as there's always a chance, it has been since the start but devs always improve it (that's what I saw couple of past months in YouTube - Can't find the link) so just because someone got affected, doesn't mean it's a nightmare, the possibility was always there and will always be there until the end. You can't find another alternate thing to Bitcoin that it's 100% safe, everything could have it's own problems just like how bank accounts could be hacked on, no matter how the security level is.

Asulect

newbie

Activity: 38

Merit: 0

Quote from: Amph on January 15, 2016, 07:44:54 AM

$30 loss, come on, people are afraid for such thing really? they have not the right to hold then

This is only the first day. The damage will probably sip in much longer than that. But, I do want to buy more if bitcoin drop below 200 again.

franky1

legendary

Activity: 4214

Merit: 4458

ok guys.. here is the summary:

drama = price dump
drama= temporary
price dump=temporary

pricedump = temporary opportunity to buy up cheap coins..

after today i dont wont to read another post about people missing out on cheap coins. especially if their bitcointalk account was registered before january 2016. so if in a years time people didnt buy up in january 2016, then just dont make a post whinging about bitcoins price rise. this is your opportunity right now to get bitcoins at 10% discount off the 2 month average..

Topic: Bad Day for Bitcoin. Cryptsy finally admitted theft and Mike Hearn tells truth - page 4. (Read 4420 times)