Bittrex notice | Bitcointalksearch.org

terrific

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Quote from: intrader on November 25, 2017, 02:48:42 AM

Quote from: terrific on November 25, 2017, 02:19:50 AM

It means that they are aware that their platform was being used by the whales and pump & dump groups that just wants to manipulate the market especially the altcoins. And if they will not stop of doing these manipulation tactics, bittrex will take action on this thing.

Quote from: intrader on November 25, 2017, 02:05:08 AM

I wonder why still trading at bittrex if trading style like traditional forex market, maybe I misunderstood, sorry

Because we used to trade on them and we can't just stop as the experience of trades there are good. But because of this manipulation notice, it will still increase their users.

The crypto is excited because of the whales and pump & dump groups, if this action stopped I can't find any reason to play altcoin again

They might be played by the whales through pump and dump but can't you see the main thing about adoption? Crypto is well known because of that now and people are thinking that all things are being done by the pump and dump groups. No don't think that way there's too much to think about it, you should understand that crypto is volatile and there will be no way to stop these big people that are playing the market.

Crypto_buddah

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Quote from: intrader on November 25, 2017, 02:05:08 AM

A general statement about market manipulation tactics:
Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.

Does this mean ending of altcoin pump? Huh

I wonder why still trading at bittrex if trading style like traditional forex market, maybe I misunderstood, sorry

This is weird. They accept new tokens to their exchange, they get money for the entrance, theiy are interested that this token is exchanged and the more the better,because they get money for any transaction, and then one day they say OK you play pump-and-dump with this token we don't want to get money for this.... What is trading anyway? It is a slow pump-and-dump. So if it is slow and supported by mass media bittrex is ok but if it is fast and supported by rumours and telegram channels then it is bad... weird

freakcoin

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Quote from: intrader on November 25, 2017, 02:05:08 AM

A general statement about market manipulation tactics:
Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.

Does this mean ending of altcoin pump? Huh

I wonder why still trading at bittrex if trading style like traditional forex market, maybe I misunderstood, sorry

This is a stupid statement bittrex. They are trying to regulate the free market. Share of OTC market constant of the pampas, there Sec no fuss and all. And then you see on the crypt they decided to show off.

Zentor

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Quote from: Bolt Brownie on November 25, 2017, 07:06:57 PM

Well if this can help prevent the organized pumps, like the ones we keep seeing on other exchanges, and that are on the basis of the price increase of some coins during the past days, then I favor it. Organized pumps project a false perspective of a coin, and may elude the market. Most of the times we only see the news that might have a real impact in the price, after the price is already changing, so when people see these pumps, they might think that it's actually something going on, and most of the times it isn't.

this statement also means that Bittrex now have legal reason to ban everyone, who "was engaging in pump activity"

jasaga

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not sure how they do this, but will make alt in major blow.
even bitcoin in several occasion have peoples who organize the pump or dump.

Bolt Brownie

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Well if this can help prevent the organized pumps, like the ones we keep seeing on other exchanges, and that are on the basis of the price increase of some coins during the past days, then I favor it. Organized pumps project a false perspective of a coin, and may elude the market. Most of the times we only see the news that might have a real impact in the price, after the price is already changing, so when people see these pumps, they might think that it's actually something going on, and most of the times it isn't.

tengek37

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Quote from: intrader on November 25, 2017, 02:05:08 AM

A general statement about market manipulation tactics:
Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.

Does this mean ending of altcoin pump? Huh

I wonder why still trading at bittrex if trading style like traditional forex market, maybe I misunderstood, sorry

I think also this is the end of altcoin pump. however I see some altcoin in bittrex currently experiencing pumping, such as Shiftcoin, Trustcoin, and power ledger.

Anonylz

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Bittrex is a shit, dont even think about putting your funds in there because you are going to get your account closed anyway.

They closed my account yesterday, without previous knowledge about that, without any reasons of that closure.

It is unfair, because i had some dollars in there, it was not a huge amount of money, but they have stolen me!

And they are not replying to my emails, to my support tickets, they are just a shit, and a lot of people had the same issue during the last few days, they are closing accounts with no reason!

Why some people are still saying that this is the best exchange that exists??

william8829

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Did they care about pump and dump last year? I believe this move is in response to increased scrutinization from the US government. With increased media attention and some well known illegal activity in some major crypto exchanges (Mt Gox, Ebtc, with more to come Cry

) they are taking steps to stay in in business. By issuing this warning it looks like they are trying to curb illegal activity. Maybe they really are. I use Bittrex and hope they can stay in The SEC good graces but once the Government starts to investigate they do not stop until they find something.

Rahar02

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Quote from: iamlds08 on November 25, 2017, 11:27:59 AM

i am a little bit confused on 28days before cancelling the order? is that true that you have to wait for 28days for you to cancel your sell order?

Removing stale orders:
Effective today, Bittrex will be removing orders that are older than 28 days. As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.

No, you don't have to wait for 28 days if you want to cancel the orders, even in 5 minutes, it can be cancelled.
These policy changes apply to some orders that take a lot of time to be executed, 28 days is the longest time for every order placed on bittrex.

However, due to many scam accusations and problems dealing with bittrex, I prefer to avoid this exchange.
They seem always looking for some way to froze customers account, even for pump-dump groups which have a big amount of transactions, it's pain in the ass if you can withdraw what belongs to you and be judged as rules violation. What?

iamlds08

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i am a little bit confused on 28days before cancelling order? is that true that you have to wait for 28days for you to cancel your sell order?

cesar44

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I agree hipo32...

hipo32

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Bittrex can not be trusted anymore!

Pursuer

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Quote from: intrader on November 25, 2017, 02:05:08 AM

Does this mean ending of altcoin pump? Huh

LOL, one of the main ways of earning money that these altcoin exchanges use is to pump and dump altcoins themselves. it is a well known method! they even place fake buy walls to manipulate the price and a shady exchange like bittrex which is showing signs of money problems is a good candidate of market manipulation.

besides, you can never prove this type of manipulation. price is going up, that is all you see. you don't know that it is being pumped with fake news and a fake group with lots of sheep following it.

malikusama

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Quote from: intrader on November 25, 2017, 02:05:08 AM

A general statement about market manipulation tactics:
Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.

Does this mean ending of altcoin pump? Huh

I wonder why still trading at bittrex if trading style like traditional forex market, maybe I misunderstood, sorry

Not the end but it will reduce a lot after the implementation of this strategy, i appreciate this step taken by bittrex management because these pump groups are strongly effecting the regular market of coins and other traders as well. This will make trading much better than before and will restrict the whales and manipulators around there.

iqlimasyadiqa

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Quote from: erickkyut on November 25, 2017, 04:46:03 AM

Quote from: intrader on November 25, 2017, 02:05:08 AM

A general statement about market manipulation tactics:
Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.

Does this mean ending of altcoin pump? Huh

I wonder why still trading at bittrex if trading style like traditional forex market, maybe I misunderstood, sorry

I received the same email. Maybe end of altcoin pump manipulated by whales or a group of people in Bittrex. If you'll look on the other side of it, it is also good because no one can manipulate the prices of the coin. Bittrex will be a better trading platform. I will support this changes on Bittrex. It will also attract more users to their site.

That will certainly make bittrex more credible because they reject the pump action that could hurt many people. that way any coin listed on the Bittrex exchange will have good quality and reliable enough. Until now it was very true that pump action only benefits a few people and harms many people who have the coin. So this is a great solution for the development of digital currency and this is the right momentum to show everyone in the world that Bitcoin and Altcoin become a secure financial medium.

blockman

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Quote from: intrader on November 25, 2017, 02:05:08 AM

Does this mean ending of altcoin pump? Huh

Not really, I'm not into pumping alts but for sure people who are behind this will still find some other way and place for pursuing their activities like this. It's good that bittrex finally noticed that they are being used by these greedy people. Other exchanges should also be notified with this type of activity for their platforms but if they will allow this to happen, most of them will be abused.

rysea2

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Quote from: adaseb on November 25, 2017, 02:41:18 AM

I got the email also.

I think this only applies to coins which are primarily listed on Bittrex or have most of the volume on Bittrex.

This has been going around for a while actually. Really surprised they are actively stepping in and stopping this.

I think everyone who has a bitrtrex account will receive the email.
it seems you have a lot of knowledge about this so can you explain me about this? I honestly feel very confused.

Victorycoin

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I also received a message from Bittrex yesterday, titled "Order placement Updates." I understand the move is geared towards the provision of fair and efficient pricing at Bittrex, but I see the part that seeks to remove, every 28 days what it calls "stale orders" as that stands to rob traders of some of the sudden spikes that often happen in the market, although some of those can be traced to pump groups.

Code:

Removing stale orders:  Effective today, Bittrex will be removing orders that are older than 28 days.  As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.

Layonk

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Quote from: intrader on November 25, 2017, 02:05:08 AM

A general statement about market manipulation tactics:
Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.

Does this mean ending of altcoin pump? Huh

I wonder why still trading at bittrex if trading style like traditional forex market, maybe I misunderstood, sorry

I think this is not ending of pump and dump. Its just notice and every pump and dump group have their own strategy to hide.
And also this just notice from bittrex but not feom other exchange.

Topic: Bittrex notice (Read 643 times)