Pages:
Author

Topic: This is an ex-change (cryptoxchange closes shop) - page 2. (Read 5195 times)

donator
Activity: 1218
Merit: 1015
That's where I had all my Namecoins sent I forgot about until today.

noooo....  Cheesy
hero member
Activity: 952
Merit: 1009
It was a Monty Python Parrot Sketch reference.

---------> Joke

Me

Smiley  Too early and not enough stimulants in my system yet.


They DO sell coffee for bitcoins now.  Cheesy

But with BTC track records, one wouldn't know if it ever arrives, or when it arrives, if it's not really coffee but cute little pebbles painted brown.
donator
Activity: 1218
Merit: 1079
Gerald Davis
It was a Monty Python Parrot Sketch reference.

---------> Joke

Me

Smiley  Too early and not enough stimulants in my system yet.
hero member
Activity: 952
Merit: 1009
Where did you see they are six figures under (as in a net loss of $100K)?

It was a Monty Python Parrot Sketch reference.

They are also really six figures under, or rather one of their victims is: https://bitcointalksearch.org/topic/scam-report-against-cryptoxchange-100k-usd-85977
donator
Activity: 1218
Merit: 1079
Gerald Davis
Where did you see they are six figures under (as in a net loss of $100K)?

I wish I could say I am surprised.  Crypto was pretty good exchange back in the early part of this year.  Although their trading interface always sucked and bank wires took too much manual "checking" and "prodding", when MtGox delays went insane (14+ days for bank wire, 30+ days for Dwolla) they were a good alternative.

However around this summer we pull all our business.  We had too many delayed wires and the delays got longer and longer.  The last wire I made required posting a scam accusation and about two weeks.  I knew they were in the long slow death after that.  Watching the bitcoincharts you could see liquidity and volume (the lifeblood of an exchange) dry up to almost nothing.   When bitfloor ramped up volume in the fall it was the final blow.  

I think in the last 30 days crypto probably made ~$100 in trading fees (based on reported volume).  A long fall from the second largest exchange.   Not really sure what happened.   Poor management?  Internal fraud?  Got hacked and hid it by doing some fractional reserves?  I guess we will never know.
hero member
Activity: 952
Merit: 1009
It has done its last trade. It's six figures under.

http://www.cryptoxchange.com/blog/21/crypto-x-change-suspending-trading-and-returning-client-funds

Aren't cryptoxchange and bitcoinpolice virtually identical? How is this going to play out when they eventually run like everyone runs? Are they gonna grab their own dicks and yell "You are arrested for being too sexy?"
Pages:
Jump to: