How Bittrex is pulling money from people

thebitcoinkiddo

newbie

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Quote from: carlfebz2 on May 26, 2017, 03:32:39 AM

Quote from: wwzsocki on May 25, 2017, 07:45:30 PM

Why BTC price is so low at Bittrex. Sometimes I see 400 - 500 $ difference between Bittrex and other exchanges. Arbitrage will be something but BTC is too slow this days that is why they make money on such a price difference.

Going back before seeing on the price of bitcoin on each exchanges does really vary on small spreads but now same as you said their difference is almost $400+ specially on bittrex when I do tried out to check the prices recently on bitcoin to those exchanges.I might think that I can do make money on doing arbitrage trading since spreads or gaps is too decent to make money but I'm not still sure to do such thing.

If the price is too low on an exchange, I automatically assume they are a scam trying to suck money away from users and stay away. there is no way that people will let such a huge profit opportunity develop. arbitrage traders will trade even a couple dollars difference between exchanges.

carlfebz2

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Quote from: wwzsocki on May 25, 2017, 07:45:30 PM

Why BTC price is so low at Bittrex. Sometimes I see 400 - 500 $ difference between Bittrex and other exchanges. Arbitrage will be something but BTC is too slow this days that is why they make money on such a price difference.

Going back before seeing on the price of bitcoin on each exchanges does really vary on small spreads but now same as you said their difference is almost $400+ specially on bittrex when I do tried out to check the prices recently on bitcoin to those exchanges.I might think that I can do make money on doing arbitrage trading since spreads or gaps is too decent to make money but I'm not still sure to do such thing.

wwzsocki

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Why BTC price is so low at Bittrex. Sometimes I see 400 - 500 $ difference between Bittrex and other exchanges. Arbitrage will be something but BTC is too slow this days that is why they make money on such a price difference.

Roadrash188

jr. member

Activity: 66

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Funny thing is..... there are some currencies being sold at prices which had never been to buy at in the entire history..... how possible?
People like to loose money?

Roadrash188

jr. member

Activity: 66

Merit: 6

SEVEN NEW CURRENCIES JUST IN FEBRUARY..... Shittrex....

thepo1m

hero member

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Quote from: slick2 on February 21, 2017, 01:08:11 AM

Quote from: thepo1m on February 14, 2017, 01:02:12 PM

This is not the fault of exchange, this is what the life cycle of most of this coin, remember ETC, Zcash, Augur and recently Pascal Coin on Poloniex the trade volume of all these coins was over 20kBTC per day when it was just listed on Poloniex but now the hype is gone and the price has suffered.

depends upon the coin, when altcoin developers don't have an update people would really panic specially if a coin stalls, it's a signal of dump time.

Agree too that lack of timely update can also cause panic sale. One thing I know of a market is it is not possible for a coin to sustain its All time high price, there must be a correction in price to reflect the real value of a project and that is the amount a buyer is willing to pay for that token at that particular price

slick2

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Quote from: thepo1m on February 14, 2017, 01:02:12 PM

This is not the fault of exchange, this is what the life cycle of most of this coin, remember ETC, Zcash, Augur and recently Pascal Coin on Poloniex the trade volume of all these coins was over 20kBTC per day when it was just listed on Poloniex but now the hype is gone and the price has suffered.

depends upon the coin, when altcoin developers don't have an update people would really panic specially if a coin stalls, it's a signal of dump time.

Sadlife

sr. member

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Maybe the problem is the website itself(bittrex) i guess they cant handle the number of users trading day by day and gives rise to few minor bugs which became major over time and now the servers are overload because they continue to add more big data to it like the new crypto-currency you were talking about. The best way is to migrate to much bigger and better servers that can handle multiple processess and fixed those bugs weekly. And one thing that im curious about is the withdrawal fee of the site, i just think its little overpriced.

thepo1m

hero member

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This is not the fault of exchange, this is what the life cycle of most of this coin, remember ETC, Zcash, Augur and recently Pascal Coin on Poloniex the trade volume of all these coins was over 20kBTC per day when it was just listed on Poloniex but now the hype is gone and the price has suffered.

Roadrash188

jr. member

Activity: 66

Merit: 6

Bittrex is not responsible for our money, right
Bittrex is not responsible for the currency price, right

BUT - Bittrex IS reponsible for adding and removing currencies to/from Bittrex, which IS reasonable for the currency prices (because the total volume is splitting up to more currencies), so: Bittrex = responsible for loosing/making money!

Just watch the currency listing https://bittrex.com/ sorted by "ADDED" -> you see FOUR NEW CURRENCIES JUST IN FEBRUARY and now watch the prices of older currencies (Steem, AMP, VOX, NXT, Club Coin, choose any you want) going down, down, down...... so what some of you "experts" want to tell here?

This shows that Bittrex is not planning to show up serious trading platform, just pulling money from people.

mkmdoc

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Quote from: dryandry on January 09, 2017, 03:18:03 AM

trading is not just look at the price
but you must search information about that coin and what the dev of the coin doing

I do suggest many people don't buy coins blindly without knowing their background we have to search twice and thrice before investing into any coins, i hope bittrex is not responsible for your money. They are just exchanger better if you don't like bittrex than don't trade in bittrex, i have been using bittrex for more than a year now but i din't find any problem with them either from deposits and withdrawals.

btcdiggingmaster

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Bittrex is not the owners of all those shit coins they are just like mediators in between dev's and investors but they are not responsible for your money when your are trading with coin. You have to read TOS before trading in bittrex, you need to find yourself which one is good and which one is bad, bittrex never tells you to trade this particular to make profits.

dryandry

full member

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trading is not just look at the price
but you must search information about that coin and what the dev of the coin doing

Roadrash188

jr. member

Activity: 66

Merit: 6

So the trolls found in here.... as always... the last few posters didn't get the point the topic is about, so please delete your account.
Cryptotraider16 please close your face, problem solved. Or are you pissed cause getting uncovered scamming people? Wink

The topic is important since crypto exchange got some weird, the market should live by trading and not by adding new coins day by day, pump and dump,
it just forces people pully money out of exchange, cause of loosing interest, easy that.

The answer is easy:
What does this mean for long term? Crypto Exchange will loose attractiveness, people get rid off, crypto market dead.
So the point is, to prevent shit/scam coins getting into exchange market.

BitcoinHodler

hero member

Activity: 1456

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HODLing is an art, not just a word...

what is this topic Cheesy

a big wall of text and the TL;DR of it is "i bought some altcoins and lost money, so bittrex is bad"

i mean come on, if you can't make profit trading, then don't do it. and trust me you will have the same experience on any other place too, also if you trade forex, gold, stocks,... you will end up saying the same thing you said here.

Cryptotraider16

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http://www.leocoinapp.com/

Quote from: coins101 on December 28, 2016, 07:42:33 PM

Close this thread.
Close your computer.
Open a book.
Your problem solved.

Best sugest for all who not understand cryptocurrency is not a joke! You can get or lost over night everything!
Welcome to cryptocurrency!

coins101

legendary

Activity: 1456

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Close this thread.
Close your computer.
Open a book.
Your problem solved.

tiggytomb

legendary

Activity: 1848

Merit: 1000

I have always liked Bittrex and see them as one of the decent exchanges. They don't just add any old coin like Yobit or Cex but do add a variety of coins.

They have no control over who trades which coins and their volume it's just the way it works, some people will follow a pump.

Cryptotraider16

sr. member

Activity: 420

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http://www.leocoinapp.com/

Quote from: alyssa85 on December 28, 2016, 06:56:03 PM

Quote from: Roadrash188 on December 28, 2016, 02:43:42 PM

So people pull out the money from old currencies to try the new ones?

Yup - and this is the case on Poloniex and other exchanges too. Speculators are fickle and keep chasing the next "new thing". Unless a coin has a very strong community, it dies after a short period of time (usually the devs cash out, forcing the coin's value down, and there are no new enthusiasts or speculators to buy). Once a coin has dropped a certain amount, speculators pull their cash. Some pumper-dumpers might buy very low and do a pump, but most coins are good for about one pump and they're done.

Big big true! And if coin is not alive and have volume after 2-2.5 years then forgercit! Its a dead coin!
When after 2-3 years coins still have few 10k $ volume then its still possible something may happen with that coin! 👍🏼

theothersmith

newbie

Activity: 22

Merit: 0

Everybody in the beginning goes through the trading stage and then when they lose enough money they come to their senses. Hodl.

Topic: How Bittrex is pulling money from people (Read 4966 times)