Topic: Support Litecoin? STAY AWAY FROM BTC-E - They are Killing Litecoin's Economy (Read 4289 times)

Although I do still trade on BTC-e as they are one of the most stable exchanges, I have to agree with the 0.5 LTC fee being pretty ridiculous. It almost seems like an attempt at keeping 10-20%+ from anyone who wishes to withdraw small quantities. It wouldn't be difficult for them to implement a % instead, or even just drop it to a more reasonable cost; they may even make more in the long term that way. The only good this may be doing for LTC is cutting down on generating lots of transactions in the block chain from people gambling using their exchange wallet.

I find myself spending a lot more time on Cryptsy now but mainly because I invest in PXC and a couple other coins BTC-e doesn't carry yet. I also like Cryptsy's interface and the fact that the devs will actually communicate with you and provide support on the fly.

BTW I avoid the hell out of Vircurex. Had an account there and after they got hacked multiple times in a single month I withdrew everything and haven't looked back. Since then they've been hacked / gone down a few more times too so I stand by that decision.

Anyway I'm not calling shenanigans on BTC-e yet as it may just be a lingering issue from when the price was lower. That said, they really need to address this because as pointed out earlier, the LTC withdrawal fee is at least 500% higher than that of the next exchange's. This is certainly causing an imbalance and leading anyone who may wish to withdraw LTC to sell it first and withdraw something else. Kinda hard to argue against that  

I honestly think you have no idea what you are talking about. Not trying to offend you here but Litecoin's fees have been low for Weeks, If not Months if you count the Client which was in Testing Phases. BTC-E has definitely Upgraded there Wallet, They are just extorting Customers and Taking advantage of there Status as the Most Popular Litecoin Exchange.


Now you are being Offensive are you not? Where am i going "Full Retard"?

Sure i might look like i am over reacting, hell quitting smoking might contribute to some of way i am explaining this. However, You Intimidating me does not change the FACT i am pointing this truth out with Evidence.


Sure the Allegation is laughable. For some people like you who seem to be narrow minded individuals who give biased opinion.

But i don't make nothing from this, I don't even hold any Litecoin to even care, I am doing this as i like the Litecoin community and want it to succeed.

So my opinion is not biased, And the reasons i think BTC-E is behind this attack is there trade volume has dropped quiet a lot and moved to Cryptsy. They will be the ones making money from this when users are forced to come to an alternative exchange in the meantime, That is there motive. No one else has this Motive or will spend the money or resources on performing this Attack. This hasn't happened on such a scale either to Cryptsy Until now, So either it is a very BIG CO-Incidence, Which you assume. or we can go our guts and what we know of BTC-E as being a shady business and accept it is much more likely they are behind this attack instead of believing in such a co-incidence.

Like it or not, I do talk to plenty of people. My actions sound a little cringe worthy with the tones i use but that is because i don't give a fuck what people like you think.

People like you always look at how stuff are described instead of trying to understand. I am not giving myself plenty of credit, I just assume i did reach out to quiet a few people that ended up switching to alternative exchanges and must have done quiet an impact that BTC-E Banned me off there Exchange and held my funds.



OK starting to think we have a BTC-E fanboy here.

i have to agree with messiah here. the .5 ltc fee is a relic from the days when ltc was trading @ .07 usd. now that its worth more than a dollar they should lower the fees for their own self interest. you can obtain litecoins from many other places now, it doesn't make a whole lot o fo sense to use btc-e especially if you are buying. if you are selling even then you lose a huge chunk by the time the money gets to your pocket.  the trollbox is pretty fun to read tho.

I've always found Vircurex to be a great litcoin exchange (among other coins).

Btc-e has been an unneccessary evil for me.  I made an account, but haven't used it yet because there are always easier, more professional options like vircurex.com out there.

Let's hope gox picks up LTC & makes us all millionaires; however, that may be a pipe dream as Mtgox is losing market share.  We'll probably want another exchange to lead the charge, but most importantly, we need businesses & people to start using LTCs for it to grow.

- I agree they probably don't have the best support and i spoke about that on another thread

- this also points to the fact that they may have been slow to adjust the LTC fee .

so lets say all this is true , that's all fine until you want to exchange to fiat .

Cryptsy if it ever has Fiat input or output will be to like "Citibank" or "Paypal" - (none of this is Cryptsy's fault they are a victim of circumstance.)

you miss the point completely .

oh well, none of this is really my concern anyhow ,

roll tape. . .  

They are both doing a great job at being terrible.. Only cryptsy seems to do well.

Obviously not a Mt Gox customer.

I agree with you on this one - very very poor support; didn`t had any problem with cryptsy - everything went smooth and fast .

in fairness half a litecoin isnt really worth all that much. you;d need to be withdrawing decent amounts for it to be worthwhile anyway at which point half a litecoin will be negligible

Im away from btc-e, worst enchange

btc-e have THE worse support I have ever experienced. I had to open three tickets months ago after that hacking disaster due to the support never answering or understanding my questions due to poor english.

I have had no issues with crypto-trade and cryptsy.

Before you go all loopy on us did you ever consider this :

1. it was changed to that when the LTC fees where very high - remember the "you must upgrade your LTC client" warning was this not related to trying to drop the fees ?

2. Did you ever make them aware of your grievance before, kind of going full retard like this ?

3. the allegation that it was BTCe that DDos Cryptsy is really laughable , I find it really very stupid , personally I think you are trying to give yourself a little too much credit here , even if LTC trades went to Cryptsy BTCe is dealing in fiat and it will eventually come back to them in the form of BTC anyhow , so why would they care?

4. I think BTCe will expand their horizons of various currencies in future i think they are just being careful about picking quality and stability .

Thanks for the info mate, I think BTC-E is behind the attack on Cryptsy now that they saw there trade volume drop a lot.

Thank you for the information.

Litecoin will be the next maker of millionaires, just like Bitcoin did, we will see a huge Litecoin bubble once it hits MtGox and given a little time. Stash your LTC now and buy it up while its cheap.

ok avoiding litecoin thanks for your advice 

They have overhead...hosting fees, employees/developers, risk of asset loss...They need to make money somehow. If you are worried about a dollar for withdrawal, your not contributing much to the economy anyways, and shouldn't be speculating either (in my opinion...). Also, Gox charges like 0.6% a trade, BTC-e only 0.2%. Trade where you want, but no place touches BTC-e LTC volume.

had some spare time so had a look around some of the exchanges

Comparison of some exchanges LTC withdrawal fees:

• 0.03 LTC - cryptsy.com  (recently reduced, previously was 0.1 LTC)
• 0.05 LTC - crypto-trade.com  (If you haven't registered yet, get some free XPM before doing so here)
• 0.10 LTC - mcxnow.com
• 0.10 LTC - coins-e.com
• 0.10 LTC - vircurex.com
• ?.?? LTC - bter.com
• 0.50 LTC - btc-e
• 0.10 LTC - upbit.org

I never used btc-e, so just re-quoting you there.
 
  
 

they provide a service and wish to charge a fee for doing so. .5 is at today's rate about $1.5

gonna start using crypto-trade. just logged into btc-e and saw your message about the pool as well. will start using that soon