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

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.

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.

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.

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?

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

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

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.

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.

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.

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.

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.

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.

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

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?

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.

what is this topic
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.

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

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

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.

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! 👍🏼

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

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.

bittrex (or any other exchange) has nothing to do with volume and stability of a currency but i would like less currencies listed too

i've seen coins losing 90% of value in a couple of days, if you don't pay constant attention to trading you can risk big time in crypto

OP, because sorry to say, but you're both a noob and a gambler.

Bittrex is not a gatekeeper of what currencies they should add and keep, nor should they be. They are a simple tool for cross blokchain transactions - that's all what they are, and should remain to be, without prejudice.

I'm not a trader, but even I know that whenever there's a noteworthy BTC rally/pump then every single alt will go way down in relation to BTC, and if you don't see that, well then, let's just say you'd be better off with "investing" into lottery or slotmachines or ICO coins...

They are in a tough spot. They don;t add every low to mid range new shit coin then someone else does and that exchange eventually gains greater volume than them.

Its the investors in all these new coins that are to blame not the devs or exchange. FOMO is their greatest strength and greatest weakness....bla bla. The devs and exchanges simply prey on this.

The bar is gradually getting higher for launching a new convincing project. ICOS are not raising what they were unless they are very convincing now.

Back in 2013 if your thread had any kind of logo that wasnt made on paint it was going to be huge. Now you need to promise to be the next decentralised uber of everything or youtube, ebay etc

What will you have to promise in a year to get a few BTC thrown your way.

Here is an idea, don't trade shitcoins.  99% of anything other than bitcoin is absolute shit that the creator just wanted to make money off of.  The other 1% is also shit, but not completely terrible.  Use a different exchange if you think bittrex is screwing you.

Not true! If bittrex dont want to add you can offer 10btc and they will not add!
Bittrex become a huge exchange and no jokes!
But yes i think they need to delist shit coins!
But you need to know a lot peoples try to make fast profit and invest in new coins to pump snd go fast out! But there always somebody loser! Its crypto!
Maybe today guys buy btc at 1000$ and in few months its dump to 700$ again!?

Well, I didn't invest in new shit coins for example, the main problem is, that old stable coins loose their stability and value when the platforms add many many new shit coins.
People think this would be an option, pull off the money from stable coins and trash it into the shit coins.
Stable coin value down, our investment gone.

We would have to move Bittrex into new direction, the trading platforms could be very useful to make money, but they would have to stay with a stable number of currencies.

BTW:
As far as I know, Bittrex wants 6 BTC to add your currency!
So guess why they add new coins, but we have to send a sign, that we are not interested in that shit and to push them back where they had been.

Not true!
If owner dont want to add they will not add!
If they want to add they will add free!
Bittrex id good exchange but have too much shit coins with 0$ volume trade or under 1000$!
Same as poloniex have plenty shit coins with under 1000$ volume trade!
Bothe exchanges dont want to give a try to some new altcoins!
But both are great exchanges! 👍🏼

As far as i know It cost 2-3 btc to put a coin on bittrex. Chances that bittrex becomes a 2nd yobit is high.

Hey people, I am new here, but not so new on currencies trading.

Well I am trading in Bittrex for 1 year and I am watching many currencies and how they are doing in respect to other currencies.
I am not using any robot or other tools and I have noticed a very strange behaviour on some currencies, especially last 4-5 months.

I started trading with some of the strongest currencies (once a time), which had great 24h volume. Buying/Selling/Buying/Selling/Buying/Selling/..... worked perfectly.
One moment by end of July/August currencies started to go down, down, down...... until today they didn't come up again..... not only one, MANY of them!
They lost by 5-10-20 times of their value meanwhile. Not so funny when you have invested 10-15 BTC into the currencies.

Well in later moment I noticed, that Bittrex has added about 2-3 times more NEW currencies with partly really bad 24h volume, which start at high value and just loose day by day.
I noticed by throwing another amount of BTC into Bittrex, bought currencies at lowest price in their lifetime and still go down, people are selling the currencies UNDERNEATH its history low-value!! HOW COME??
So people pull out the money from old currencies to try the new ones?
So let's say, the entire volume is now splitted up into much more currencies, which makes the values falling!

In my opinion Bittrex should have to verify the stability of currencies and to keep good relation between people/volume vs. number of currencies.
This can just be solved when Bittrex would sort out about 30% of the new low-volume currencies.