Topic: Cryptopia.co.nz delists WAVES and her assets. Opinions? (Read 1185 times)

i wish they would relist waves. also why no ripples on there? seems weird to me

You sir, just made me a whole lot wiser! A whole damn lot wiser.

Thank you very much for your reply.

An exchange has to protect its owners and client against foreseeable losses. A network fork can create risks of loss of funds for an exchange.
Anything that results in the loss of funds can potentially shutter an exchange. Therefore it is up to an exchange to minimize risk.

Cryptopia is risk adverse. They didn't list Ethereum until the fork was well established. (Technically Ethereum is a larger fork from Ethereum Classic)

When an exchange receives funds it is deposited to the exchange wallet but becomes funds held on the exchange by the user. It is often credited after a short number of confirmations. The user can then use the funds for trading. e.g. User1 deposits 10 Waves into wallet.
10 waves is credited to exchange wallet. User1 has 10 Waves in funds on exchange database. User1 trades 10 Waves for 1 Ethereum with user2 and User1 withdraws the Ethereum. User2 has now 10 Waves in exchange Database. The fork results in loss of the 10 Waves = exchange wallet is now 10 Waves short.

When users buy and sell it occurs on the exchange database - not on the coin blockchain. So any losses due to a fork are sustained by the exchange. They may be able to track it back to a user - but is it recoverable ?


The tokens or assets rely on the proper functioning of the network. The risks of loss due to a fork are the same.

I have spoken with the developers of the site but I have never met them in person. Other than expressing my sadness at losing Waves trading on Cryptopia I haven't discussed the specifics of the removal. This is my personal opinion only.

I think the whole delisting of waves and its tokens on cryptopia is a real pity. I have been working with both cryptopia and the waves dex and liked to use both them, particularly when I was trading the smaller waves tokens such as Ripto Bux and Mercury. A few months ago, I encountered some hickups while using both system and both the waves and the cryptopia team really stepped up with their support.

Now that cryptopia delisted waves and its tokens, we lost an alternative trading location for the smaller waves tokens. I understand that everything can be traded at the waves dex, but alternatives are good in my opinion.   

but bittrex only support wave coin
bittrex not support waves token, i think can big problem about waves platform and waves token, if much exchanger not support waves token

I have to add that i actually like the Waves platform and support and have Waves (and will continue to buy them) but I also fully understand the decision by Cryptopia to delist. You cannot run an exchange without being informed of wallet updates which are part of the terms and conditions of a coin being listed. With a fork the exchange runs the risk of losing crypto for which the customers might attempt to make them liable or loose angry customers while it is not their fault. I know Cryptopia delists coins if the developer is not honest about mistakes thy have made. Trust needs to exist between the developer of a coin and an exchange.

Source https://twitter.com/Cryptopia_NZ/status/899214304745996290



https://twitter.com/Cryptopia_NZ/status/899093596812394496

I find this screenshot curious. I haven't been able to replicate that in my gmail with received messages.          
The circled part - that should be showing the address of the last email that you are replying to.  The different font colors are interesting too.
The date at the top and the date of the reply are fascinating too.  According to that screenshot - Waves Platform received on the 21st - a message sent by Cryptopia on the 22nd

...and the 0.7.6 fork occurred on the 19th


https://twitter.com/Cryptopia_NZ/status/899093596812394496

Is there any recent news about waves and all of its assets on cryptopia ,, ?

I emailed them as well about all of this but I still have not gotten a response. I felt it was a bit unprofessional that they would rashly remove so many markets over a miscommunication. Good to know they are reconsidering their decision.

I asked Cryptopia a couple days ago if their decision was final and today I got this reply:

The problem here is not in Waves but in Cryptopia. Based on what Waves posted on Reddit, they sent a notification to Cryptopia, dated August 16th, that they will release a new version of the Waves node, which is 0.7.6. Cryptopia answered it and they said they would forward the said email to their admin and they will reply to them as soon as possible.

So basically speaking, Cryptopia is aware of the updates that Waves is performing and they have been notified about it but they are saying the opposite in their announcement.

i approve, best way to buy waves is on Bittrex atm.

To me it means Cryptopia is disqualifying itself from the serious cryptotrading arena. It's their own responsibility to maintain their wallets and keep nodes up to date.

If you make a living out of fees paid by traders on multiple blockchains and their assets, you are the one that has to provide an up to date service. Complaining that you are not informed on time by the developers of those blockchains is childish and a huge red light to me as a trader!

I think that's a personal problem between waves cryptopia, they should solve it themselves , we can do nothing for them .

Im thinking if the FUD about loss of small exchange will effect wave price, I'm buying more waves

Agree, waves has its own exchange like DEX and tidex. So don't worry to hold waves, even I never trade in cryptopia. I prefer bittrex, or liqui. But bittrex now I leave it because the limited withdrawal for only 0.025 BTC per day. That's suck. I can;t withdraw big amount of money. I move to local exchanger but It is better and more secure. I like to use bitcoin.co.id. The biggest cryptocurrency Exchanger in Indonesia. The withdrawal can be 1 BTC a day. The security is double with phone verification and email confirmation. I like to trade there. However, Bitcoin.co.id haven't list waves.  I hope in the future there will be waves in spot market.

seems reasonable to me if the information is correct.

I got hacked in Cryptopia today so am not sure if I will use the exchange anymore. WAVES is a great token/platform so it's also a shame that it will be delisted by Cryptopia. This is one of the more major tokens out there and shouldn't be delisted in my opinion.