Topic: is there a reason why Cryptsy doesn't host ICOs? (Read 3940 times)

Pff of course to create confusion Hilux74 wanted to post something here too because I most probably posted something bad (or sensitive information) about Digitalindustry (aka Kolin Evans).

Let's see how other people experience posts from Hilux74 at bitcointalk:

https://bitcointalksearch.org/topic/m.9525820
https://bitcointalksearch.org/topic/m.9586936

I have nothing to add to that

For the people who didn't follow this whole thread, one last time how DI really thinks about CAP to close this whole conversation:


Because of above e-mail from DI, I doubted about the integrity of cryptsy because BitJohn initiated CAP and cryptsy listed it (and is still listed) at their exchange

Nice to see yet another thread that 'beautiful mind' silvermetal has wtf'ed up with his ever increasing convoluted conspiracy theory.  What a nut. 

Highlights so far in this thread are that original arch rivals worldcoin and digitalcoin are now also included in his theory, and that everyone from mid2013 with Cryptsy avatars have also been added.  Makes sense...

If only he could view the litebonk forum where we all posted pics giving high5s after coming up with this grand conspiracy.

You sound like a reasonable guy, I hope you use your common sense when you choose somebody to work for

As long as you have not actually met Spoetnik in person in your hometown, (for me) he can live everywhere.
I also remember he indicated he lived in Canada in his profile, but he changes that frequently. I also read once that he lived in a basement somewhere with free electricity (so he can mine coins for free). But what somebody writes and what is really true is hard to find out sometimes.

That the truth is usually somewhere in the middle I demonstrated with the CAP story, after I aligned the stories from BitJohn, Shakezula (Adam) and digitalindustry there are still gaps....

I'm not sure what to make of it but it is fun to be able to add to something and help it along, I think it could be a good investment as long as Spoetnik takes it seriously and would certainly stir a lot of opinions which would create a lot of volume (which is why BitJohn would like it, more volume = more money). A person can and should have a bit of fun but at the end of the day it is always a serious business when it involves peoples hard earned money.

I know Speotnik is from Canada because it has been posted a number of different times by him and other people, he's from my hometown not too far away from where I live.

Thank you BitJohn that you took some time to answer some of my questions.

If I understand you correct I have to summarize the history of CAP as follows:
15-20 people in the chatbox at cryptsy started the idea to create BottleCaps, including Shake, Mullick and BitJohn.
The idea was to create a coin without a premine, to show that a coin only needs a community.
Digitalindustry was not included in the chat.
The 15-20 people thought that Shake would create BottleCaps for free. However Shake was thinking differently about that (he is still surprised that he is not paid for the creation of the coin). Seems to me that no good agreements were made from start.

CAP was launched as follows:
Shake created the coin
JohnEden (a group account) announced CAP at bitcointalk.
Mullick took over from Adam as developer of CAP
BitJohn posted very enthusiastic in the thread, but at that time he was a volunteer at cryptsy. In this way there was not a conflict of interest between CAP and cryptsy

A side note:
At the same day of announcement digitalindustry posted in the thread (Coincidence??)
https://bitcointalksearch.org/topic/m.2561719 and claimed BottleCaps was his idea. (however he was not present at the initial meetings according to BitJohn). Another lie of DI ? Or was DI present at the meeting with another name?
One proven "sockpuppet" (philipdick, another account of Digitalindustry) also "scammed" CAPS at start:
https://bitcointalksearch.org/topic/m.2581363

How did CAP proceed:
Some hard forks later, it seemed that CAP was not the success as was hoped for.
BitJohn and Mullick started to work at cryptsy and abandoned CAP because of conflict of interest.
Mullick handed CAP over to "Tranz"

CAP november 2014:
It is still listed at cryptsy, while there is hardly a community left (with Tranz and DI as one of the few active members).

Thanks for the explanation. little bit off topic, but what do you think of spoetnikcoin? BitJohn explained he posted there because he doesn't consider it as something serious.
I have met you also in that thread, but to me it seemed you took it very serious? Or did I interpret that wrong?

And how do you know spoetnik is from Canada?

I have little relationship with BitJohn and Cryptsy. I had originally added BitJohn to Skype as someone had got into my Cryptsy account and made off with a large portion of BTC which was due to error on my part. I have also talked with BitJohn and Mullick about a number of topics (mostly questions about coding), suggestions to improve the platform and to see if Mullick would be able to help with some coding work (which he said no to since he was already over worked). I still have BitJohn and Mullick on Skype but haven't talked to either of them in 4-5 months as I'm busy with my own stuff.

Hazard was the original coin maker been out of the scene for some time or maybe he goes by a different handle now. Cryptsy was originally intended as a place for miners on Paul's pools to trade coins they mined that could not be traded anywhere. In the old days you would buy, and sell on these boards and lots of folks got ripped off. Anyhow back then there were very few alt coins and there was a big demand from the customer to add coins. Take your investigation to all the old buying selling threads you will see the old wild west.

I supported CAP at the time because it was fair and had stats that I liked. In those days Mullick and I did not work for Cryptsy we volunteered. Cryptsy was a small operation. When we became employees all the side projects and associations became extra work (as it was all volunteer) also made for conflicts of interest so we just removed ourselves from that stuff.

What is your relationship with BitJohn and Cryptsy? That you think it is necessary to support BitJohn with your posts?

And until now I don't find it very convincing from BitJohn. He only answers short and claims one poster is a troll without posting any evidence. And ok he clarified a few things about CAP which I didn't know. I am grateful about that.

I am still interested in the following:
- What BitJohn thinks about Hazard and his coins , and why he list them as he could be aware that those coins are scam coins?
- Why BitJohn and Mullick left CAP? If the reason is that CAP was a failed experiment, why are failed experiments still listed at Cryptsy?

I did pay attention and responded to it on the ones I know more about since some of them you listed I consider successful Coins. I don't need to defend BitJohn, he seems to be pretty good at answering all of your questions on his own.

And how do you know that about igotaids?
I thought he made with his name a parody on igotspots, a well known scammer at bitcointalk (usually igotspots scammed in combination with coins from Hazard).

I must say that I don't know much about mullick, in the CAP thread it was the first time I have seen him, but he is many times mentioned in one breath with developers like Hazard (and I was focussed more on Hazard because coins of Digitalindustry (kopimicoin, digitalcoin, worldcoin, Nibbles, etc) are more associated with Hazard than Mullick).

Hazard created much coins, which many of them are listed at your exchange, and you could know that (even in 2013) hazard was a scammer, because there was a call to bann hazard:
https://bitcointalksearch.org/topic/m.2336699

igotAids is someones troll sockpuppet account... Mullick was a developer on CAP after it was released in fact he fixed tons of broken coins before he moved to Florida to work for Cryptsy. Yes beating dead fish...

Hm off topic? I agree a little bit, but on your "request" I moved the discussion to one thread instead of two:
https://bitcointalksearch.org/topic/m.9604872

A dead fish? According to you the following person has no idea how the altcoin market works?
https://bitcointalksearch.org/topic/m.6592556

To remind you, the first developer of CAP was mullick (who is mentioned in the post above from "iGotAIDS").
https://bitcointalksearch.org/topic/m.2582172

There really is nothing more to tell your beating a dead fish. There is no relationship. And really this whole chatter is off topic.

You think that people are more interested in my integrity than the integrity of Cryptsy?
Why do you pop up and help BitJohn to distract the attention away from cryptsy with this post?

Or is BitJohn not capable to explain the integrity of Cryptsy by himself?

It's more important that BitJohn explains his relationship with scammers like DI and Spoetnik (and their related coins), than I do
(if I already have a relationship with them as you try to suggest). There are people who trust their bitcoin/money to his exchange.

But if you are really interested in my relationship with DI (and with which coin), I told it two or three posts before in this same thread. Pay better attention Crestington (https://bitcointalksearch.org/topic/m.9614870).

So you helped Kolin with scamcoins then? or invested in them knowing they were a scam and meant to be dumped for profit? I really don't see how that would be any different and which Coins are you referring to? Names and Dates?

First off, I never stated that DI and spoetnik are one person. I would never be able to proof that because I can't check IP addresses. I only indicated that their relationship is very very close. So close that they have sometimes problems to distinguish theirself from each other.
And Spoetnik is from Canada? That is new from me, as he states in his profile that he is from Antigua and female: https://bitcointalksearch.org/user/spoetnik-138471. It is that easy to tell (mislead) somebody where you are coming from and whether you are (fe)male.

Second, did I state somewhere that DI and Spoetnik can code?
Because they both can't, DI used copycoin services from "Hazard" to create coins:
https://bitcointalksearch.org/topic/m.2395353
 
And not sure why you tell me the investment rules. I made many profits with some scam coins from Kolin.

And my intention to post here was to learn more about the integrity of Cryptsy by BitJohn himself.

ZERO relationship Check the following:

Read the trustscore of DI, and especially the comment of user "stealthcoin". There you see the connection with digitalcoin and digitalindustry.
https://bitcointalk.org/index.php?action=trust;u=85019

And check the thread of Nibbles, there DI scamms about worldcoin all the time. Here one example:
 https://bitcointalksearch.org/topic/m.2195744

By the way: Strange sense of humor: https://bitcointalksearch.org/topic/m.9362843

Your information is incorrect in so many ways

First off, Digital Industry and Spoetnik are two different people and only really know each other because the community was so small at the time, one lives in Canada and the other lives in Australia and neither of them could code Coins at the time. Also, HBN is completely unrelated and Tranz the Developer is one of the top coders around here, the Coin has more unique features than most Coins around. MyriadCoin was never labeled as an investment but a project dedicated to multi-algo merge mining of POW, it doesn't do much for price but has a lot of merit for the innovative technology it adds to the ecosystem.

You should try to let go of blaming DigitalIndustry for losses you incurred in investing in a new technology, the reason it dropped in price so much comes down to dilution. When a Coin is POW only, miners will always sell their Coins they have mined to pay for electricity expenses and with new Cryptocurrencies coming out every day there is not enough new buyers to sustain the price and so it drops in value. Rule number 1 of investing is if you see red flags, be the first to sell even if you incur a small loss because it's better than holding on and incurring an even bigger loss.

Cryptsy used to make coin avatars for every coin for marketing. When Bitcointalk locked down changing them... Everyone is stuck with the last avatar they had. Digitalcoin and Worldcoin have ZERO relationship to Digital Industry. Spoetnik has never released a coin to my knowledge. I think you missed the point of the Spoetnik coin thread it was humor. That is where folks make a joke and people laugh and play along...

Digitalcoin, worldcoin...pff I forgot to mention them in relationship with digitalindustry. But that's a different story.

Anyhow, how about "Spoetnik" and "Hilux74". Why do they carry just like you a cryptsy avator? And why do you like it when "Spoetnik" release a coin?

Maybe I was not clear Digital Industry was not a member of the community that developed CAP. Shakezula was not hired he offered in the chat box to make it. This was at the dawn of the age of altcoins. Around when Feathercoin, Digitalcoin and World coin came to be. Long before you arrived into crypto or at least bitcointalk.

Ok then it remains a mystery who ordered the service of Adam to create CAP, and why DI suggested that "JohnEden" = "BitJohn"


Do I understand this correct: CAP was an experiment? And CAP was proven not successful, even you abandoned CAP but it is still listed at cryptsy.
You use your exchange to experiment? In my eyes that is not ethical to do, people trust his bitcoins/money at your exchange. You are not going to experiment with that.

Why do I dig this up? To make a long story short:
I was active for the Quark foundation for about six months, there I met DI. I was not aware about his behavior and personality problem. Now I know better:
https://bitcointalksearch.org/topic/m.9385347
And I also notice how much people he mislead and deceive.... https://bitcointalk.org/index.php?action=trust;u=85019

When I tried to figure out who DI really was, I noticed that many members of his "family" is associated with Cryptsy as can be seen by their avators.

"Spoetnik" : https://bitcointalksearch.org/user/spoetnik-138471
Spoetnik is so related with DI that he sometimes think he is DI: https://bitcointalksearch.org/topic/m.9366830

"Hilux74" : https://bitcointalksearch.org/user/hilux74-135976
Hilux74 post in the same threads as DI and read what "coinmama" thinks about Hilux74: https://bitcointalksearch.org/topic/m.9586936

DI is associated with many scamcoins
Quark, Myriadcoin, CAP, HBN, Nibble, and many more.....and guess what...they are all listed at cryptsy.

I seriously worry about the integrity of cryptsy. Especially when you post in a spoetnikcoin thread that you "like it"
https://bitcointalksearch.org/topic/m.9320557

Just check the trust score of Spoetnik and you know how many people Spoetnik deceived...and you "like the idea of a spoetnikcoin".....

But I wondered about that earlier already: https://bitcointalksearch.org/topic/m.9323172

Wow is really all I can say lol. Again Shakezula (Adam) created the coin long ago when there was a bunch of premine garbage out there. By order? IF you mean I said yeah that would be a cool coin

I doubt the validity of that statement from Shake. However if anything we lost money as an exchange on CAPs when it forked for 3 months. With no premine and fair launch there was no money to be made. The point of it was not to make money, but show that coins did not need the premine just needed a community of folks to be successful.

The below thread highlights that.
https://bitcointalksearch.org/topic/the-bottlecaps-foundation-30-day-user-briefing-and-development-path-261238

John Eden is a group account held by the current developers of CAP. It was started by the folks who supported the coin everyone had access. John Eden is the fictional AI from the fallout games.

Digital Industry wasn't even in the chat and I am not sure he chats at all on Cryptsy. If he does I do not know his handle. His only influence was the logo and trade code which he contributed to replace the BOT and grey Bottlecap. He did so on these forums not on Cryptsy.

Really not sure what your trying to dig up. I fully support any non premine non ICO/IPO coin always have. Cryptsy adds coins based on volume and votes almost exclusively.

Indeed Adam created CAP by order of you.
Quote of Adam:

Note: Adam refers with "them" to CAP

Note: DI refers to the OP of the CAP thread (JohnEden). "He" is most probably "BitJohn"

1. Why didn't you pay Adam for creation of CAP after you ordered it?
2. What is your relationship with (the) digitalindustry (family)? As I read it now, I understand DI chats a lot in the cryptsy chat box?
3. How does Kolin Evans (aka DI) influence you with adding coins to cryptsy?
4. Why did you create a new account to announce CAP?

Bottlecaps was created when there were about 15-20 other alt coins by folks in the Cryptsy chat box. The coin was designed as the anti-premine fair release coin. Sure I was excited to help promote a coin developed inside our own community. Anyhow We didn't create CAP the coin was made by Shakezula for the folks in the Cryptsy chat box.

So Cryptsy and its employees did not create Bottlecaps. Were also talking about a completely different time in digital currency.

Is it legit for an exchange to create his own coin, and scam it on bitcointalk by the owner and list it on his own exchange?

I read about one example: CAP

https://bitcointalksearch.org/topic/m.2560045

In my opinion that is not very legit to do for an exchange.

For the people who don't know:

June 2013:
By order of BitJohn Adam created CAP.
Adam is also known as "Shake" and runs a copycoin service.
BitJohn Scams CAP and most probably created another account "JohnEden" to announce CAP at bitcointalk.
https://bitcointalksearch.org/topic/m.2559937
A few days later it was of course listed at Cryptsy.


How do I know?

Adam, the coin creator discussed this openly with "digitalindustry" during an e-mail conversation.

https://bitcointalksearch.org/topic/m.9594833

Digitalindustry also e-mailed the history of CAP to "coinmama"

https://bitcointalksearch.org/topic/m.9586936


For the people who don't know Digitalindustry...this link tells about everything:

https://bitcointalksearch.org/topic/digitalindustry-aka-kolin-evans-busted-on-planning-a-scam-781954

Therefore I consider cryptsy not hosting ICO/IPO very hypocrite

Does that include altcoin/cryptocurrency ico's as well?

ICO are not allowed in USA right now.

It should be common sense but in reality it isn't common. I do kinda follow the stuff you post and hope you will end up sticking around. I don't shake as many trees so if there is something you post I don't agree with I generally wouldn't reply because you already get too much hate from expressing your opinion. Obviously I'm here to do business as well, build Crypto and have it be profitable but I've been ripped off before and it's not enjoyable. There are many levels of scams, with ignorance, recklessness and false promises being the biggest. I'm no developer, everything I know and the shit I spout is self taught since the time I joined these forums. I'm sure I will end up being a success just by sticking to one project no matter what and always trying to help friends I've made and I would rather people disagree with my ideas in a constructive way, you don't grow if people agree with everything you say.

LOL That is what i was thinking exactly but some how i went on a rant and posted a picture of Nazi cat hahahha
Well said though i knew we seen eye to eye on a lot of this stuff

I already know that cryptsy would never host ICO's because regulations are heading in the same direction as the stock market. You cannot regulate crypto but you can regulate exchanges and the potential for an ICO to be a scam is too great to be personally involved and slide that slippery slope. I have not always seen eye to eye with Cryptsy but I respect them for having enough sense not to be involved in unregulated ICO's.

If you want bash Cryptsy you can't fault them for complying with standard practice when it comes to money regulations.
They knew Regulations was coming and they did what they had to before they were forced to do it.
Either you follow US law or your done.. game over.
And USA financial laws are gradually getting integrated into crypto.. they knew damn well what was looming and took measures to be a step ahead.
So if you want to fault someone fault the United States of America !!!

Are they going out of business ? Not when i see / calculate the amount they *may make off of Bitcoin TX fee's LOL
That alone could prob pay for all their staff hhahaa
All they have to is charge each guy 0.0005 each for a TX then bundle 100 TX's together and pay one fee of 0.0001 once and keep the rest..
Just a random example

If they did go out of business i hope they don't pull a GOX and claim hackers stole their Bitcoin then find it stuffed in their couch cushions.
Zer0Sum you said.. "they are hemorrhaging money"
Extraordinary claims require..
True ? i have not seen any indication of that and making claims like that should be backed up with some proof other than low volumes.
How do you know their true operating cost etc ? See what i mean ?
I have no idea about that stuff but i have not seen any hard facts so crucifying them on 100% speculation is not very fair.

I have been using Bittrex for some time now too and not Cryptsy and a big reason was they did not have Jackpot Coin at Cryptsy

Anyway.. The fact that Cryptsy did not dive on the IPO shit makes Nazi Cat think it was a Miracle !

Satoshi Nakamoto felt that decentralization and anon was beneficial to his customers.

Cryptsy public Business Plan is the exact opposite...
Partner closely with the US Govt, State of Florida, FinCEN, NSA and IRS to completely subvert Satoshi's vision...

All for the money, baby. Money talks... idealism walks.

What is far more likely is the Mt Gox scenario...
With 40 employees already and exploding regulatory and reporting costs...
Look at their pathetic USD volume, do the math... and they are hemorrhaging money.

I have heard that retort around here for ages.. and i still think it's bullshit.

Think of it this way banks can leave the ATM machines setup so people can take what they want using the honor system.. but they don't !
Yeah i know a bad analogy, but think about it
There would be people in that scenario that WOULD be honest and take only the money they own etc.
But we all know it would be abused so bad and so fast that the bank would broke and out of business by the end of the day LOL
And that is my stance on this IPO/ICO/ITO shit.. Fuck 'em all !

Thanks for the info BitJohn and props to Cryptsy

Is the US's regulatory system inherently more legitimate than that of the Swiss?

Kudos to Cryptsy.

No ICOs.
They don't go delist crazy like some of the competition.

 
I am pretty sure that the very first clients of Madoff made some profit with the money of the next
Yes you can make profit out of a pyramidal scheme or a ponzi scheme but they are still frauds  

Not all premines are scams either, but more and more people are staying away from coins with a premine. An IPO/ICO is simply a premine with a pre-dump.

Ethereum not a scam  i wonder the moved there shit outside of the usa cus of new prosecutions there so yea

i guess not all ico's scam, you can take profit for short term

Bittrex in the past couple days has had lot of people complaining of hosting ICO's that end up as scam. And due to this, some people have left it. I believe Cryptsy would not want such a thing to happen to their name.

A lot of them are, certainly, but they seem to be the only way of getting in on the ground floor unless you're a mining guru with serious (and expensive) equipment and there have been some notable exceptions to the scams - NEM, Nxtty, Counterparty, Storj, Ethereum? I think part of the attraction to ICOs has been having an alternative to POW-related miner dumps.

It's because 99% of all ICOs and IPOs are scams.  Cryptsy is wise not to get sucked into all of that monkey business.

Haters gonna hate, but in my opinion cryptsy is the only legit (alternate cryptocurrencies) exchange.

We have a policy in place currently that will will not host ICO's, IPO's. There is no plan in place to create the mechanisms to do so either.

We do not feel it is a service that is beneficial to our customers.

i agree with the answers but i have also thought before it was because they may have to write code for the site etc.
it's possible they may still and had been working on an infrastructure for it all but didn't launch it yet.. i'm guessing big time

Cryptsy is located in the USA where the SEC might consider ICOs as selling unregistered securities. Any company there doing ICOs could find themselves in deep shit which is why Ethereum postponed their ICO. They eventually took legal advice to do it well away from America to avoid the risk of prosecution.

maybe they don't wanna risk getting sued cus of hosting scams ?

Curious - is there a particular reason why Cryptsy doesn't host ICOs?