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CRYPTSY IS DEPOSITING RANDOM AMOUNTS OF BITCOINS IN MY ACCOUNT

Title says it all, every 10 minutes or so for the past 40 minutes around 0.1 bitcoins has been added to my account. Has this happened to any one else? I've emailed them to tell them its happening but havent got a reply...
submitted by Marseater to Bitcoin [link] [comments]

Bitcoin Deposit to Cryptsy Still pending?

I transferred some BTC to cryptsy like 4 hours ago.... any ideas why its still pending? =/ Thanks guys.
[EDIT] This was Cryptsy's reply:
"Thank you for contacting Cryptsy. I am happy to assist.
My apologies for the inconvenience. We were performing maintenance on the wallets and they are back online. Please allow some time for your deposits/withdrawals to process. They will be credited shortly.
Please feel welcome to connect if you need further assistance. Thank you and have a great day!"
submitted by 8ReddCoins to reddCoin [link] [comments]

Bitcoin Classic is possibly a Takeover Attempt by Cryptsy and Marshall Long of FinalHash to dump Worthless Coins on Depositers

Marshall Long CTO of FinalHash and CTO of Cryptsy who still lists Cryptsy on the FinalHash website has been the one of the primary forces pushing for Bitcoin Classic in what would likely result in a fork with two chains due to it's extremely controversial nature of being pushed for activation before SegWit. Since Cryptsy's liabilities are primarily in Bitcoin it is theorized he is likely still working closely with them to come up with a way to resolve their problems. Big Verne has flown to China and is likely working closely with Marshall Long in order to create a hard fork where the coins from the losing chain can be dumped on Cryptsy's users for pennies on the dollar.
The smoking gun here is how he all of a sudden goes from supporting the core roadmap and saying miners nearly unanimously support segwit on Dec 14th to a complete about face and withdraw of his support from the roadmap on Jan 5th do a search for "FinalHash" in those archive links to see the specific posts in question. Shortly after this about face it is revealed that Cryptsy was running a fractional reserve. Cryptsy likely knew about pending legal action back in December and would be working on a strategy to resolve their liabilities. Dumping pre-fork coins on their users is a plausible strategy for resolving their legal liabilities.
The people involved with Bitcoin Classic have close ties to FinalHash and Cryptsy and have been working under repository called "Multicoin-co" here.
You can see details of the Bitcoin Classic involvement in FinalHash lead developer Ahmed Bodiwala's github history who as you can see here has been very active with altcoin development and also has close ties to Cryptsy in addition to having commit access to the bitcoin classic repository along with jtoomim and Marshall Long himself. Marshall Long was also closely involved with the mintsy.co scam. Marshall long has been involved in countless other scams such as GAW miners.
While it is just a theory that Marshall Long is pushing for a hard fork to dump the losing chain's coins on Cryptsy users it does seem like a realistic possibility given the evidence. Even if there is another reason for this hard fork push do you really want someone involved with all these scams to be in charge of bitcoin protocol development?
submitted by cryptsytakeover to Bitcoin [link] [comments]

Bitcoin Classic is possibly a Takeover Attempt by Cryptsy and Marshall Long of FinalHash to dump Worthless Coins on Depositers

Marshall Long CTO of FinalHash and CTO of Cryptsy who still lists Cryptsy on the FinalHash website has been the one of the primary forces pushing for Bitcoin Classic in what would likely result in a fork with two chains due to it's extremely controversial nature of being pushed for activation before SegWit. Since Cryptsy's liabilities are primarily in Bitcoin it is theorized he is likely still working closely with them to come up with a way to resolve their problems. Big Verne has flown to China and is likely working closely with Marshall Long in order to create a hard fork where the coins from the losing chain can be dumped on Cryptsy's users for pennies on the dollar.
The smoking gun here is how he all of a sudden goes from supporting the core roadmap and saying miners nearly unanimously support segwit on Dec 14th to a complete about face and withdraw of his support from the roadmap on Jan 5th do a search for "FinalHash" in those archive links to see the specific posts in question. Shortly after this about face it is revealed that Cryptsy was running a fractional reserve. Cryptsy likely knew about pending legal action back in December and would be working on a strategy to resolve their liabilities. Dumping pre-fork coins on their users is a plausible strategy for resolving their legal liabilities.
The people involved with Bitcoin Classic have close ties to FinalHash and Cryptsy and have been working under repository called "Multicoin-co" here.
You can see details of the Bitcoin Classic involvement in FinalHash lead developer Ahmed Bodiwala's github history who as you can see here has been very active with altcoin development and also has close ties to Cryptsy in addition to having commit access to the bitcoin classic repository along with jtoomim and Marshall Long himself. Marshall Long was also closely involved with the mintsy.co scam. Marshall long has been involved in countless other scams such as GAW miners.
While it is just a theory that Marshall Long is pushing for a hard fork to dump the losing chain's coins on Cryptsy users it does seem like a realistic possibility given the evidence. Even if there is another reason for this hard fork push do you really want someone involved with all these scams to be in charge of bitcoin protocol development?
submitted by cryptsytakeover to btc [link] [comments]

How Do You Deposit Bitcoin Into Cryptsy?

I just signed up to Cryptsy and I have no idea how to fund it with Bitcoin. Can someone please describe how to do it?
submitted by A1nerd to Bitcoin [link] [comments]

BigVern on Twitter: Cryptsy has integrated Tether USD₮ for fiat deposit *and* withdrawal • /r/Bitcoin

BigVern on Twitter: Cryptsy has integrated Tether USD₮ for fiat deposit *and* withdrawal • /Bitcoin submitted by udecker to omni [link] [comments]

Could I deposit Bitcoins into Cryptsy from Coinbase?

Thanks!
submitted by SirSloth to Bitcoin [link] [comments]

Bitcoin Classic is possibly a Takeover Attempt by Cryptsy and Marshall Long of FinalHash to dump Worthless Coins on Depositers

Marshall Long CTO of FinalHash and CTO of Cryptsy who still lists Cryptsy on the FinalHash website has been the one of the primary forces pushing for Bitcoin Classic in what would likely result in a fork with two chains due to it's extremely controversial nature of being pushed for activation before SegWit. Since Cryptsy's liabilities are primarily in Bitcoin it is theorized he is likely still working closely with them to come up with a way to resolve their problems. Big Verne has flown to China and is likely working closely with Marshall Long in order to create a hard fork where the coins from the losing chain can be dumped on Cryptsy's users for pennies on the dollar.
The smoking gun here is how he all of a sudden goes from supporting the core roadmap and saying miners nearly unanimously support segwit on Dec 14th to a complete about face and withdraw of his support from the roadmap on Jan 5th do a search for "FinalHash" in those archive links to see the specific posts in question. Shortly after this about face it is revealed that Cryptsy was running a fractional reserve. Cryptsy likely knew about pending legal action back in December and would be working on a strategy to resolve their liabilities. Dumping pre-fork coins on their users is a plausible strategy for resolving their legal liabilities.
The people involved with Bitcoin Classic have close ties to FinalHash and Cryptsy and have been working under repository called "Multicoin-co" here.
You can see details of the Bitcoin Classic involvement in FinalHash lead developer Ahmed Bodiwala's github history who as you can see here has been very active with altcoin development and also has close ties to Cryptsy in addition to having commit access to the bitcoin classic repository along with jtoomim and Marshall Long himself. Marshall Long was also closely involved with the mintsy.co scam. Marshall long has been involved in countless other scams such as GAW miners.
While it is just a theory that Marshall Long is pushing for a hard fork to dump the losing chain's coins on Cryptsy users it does seem like a realistic possibility given the evidence. Even if there is another reason for this hard fork push do you really want someone involved with all these scams to be in charge of bitcoin protocol development?
submitted by cryptsytakeover to bitcoin_uncensored [link] [comments]

Bitcoin Classic is possibly a Takeover Attempt by Cryptsy and Marshall Long of FinalHash to dump Worthless Coins on Depositers /r/btc

Bitcoin Classic is possibly a Takeover Attempt by Cryptsy and Marshall Long of FinalHash to dump Worthless Coins on Depositers /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

cryptsy needs to disable new deposits /r/Bitcoin

cryptsy needs to disable new deposits /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Depositing Bitcoins To Cryptsy

I have 11 confirmations already and I don't even see a pending deposit! Here's the Blockchain for the transaction
https://blockchain.info/address/1AAdNGPfKPt9v9nb4wvcsEsR8ciHCyMyxC
Update: My Bitcoins where credit to my account
submitted by A1nerd to Bitcoin [link] [comments]

Bitcoin Classic is possibly a Takeover Attempt by Cryptsy and Marshall Long of FinalHash to dump Worthless Coins on Depositers /r/bitcoin_uncensored

Bitcoin Classic is possibly a Takeover Attempt by Cryptsy and Marshall Long of FinalHash to dump Worthless Coins on Depositers /bitcoin_uncensored submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Cryptsy now offers more options for Bitcoin/USD trading to Canadian Customers. Debitway, Vogogo, egoPay, BTC-e Codes no DEPOSIT or WITHDRAW fees!

Cryptsy now offers more options for Bitcoin/USD trading to Canadian customers. Debitway, Vogogo, egoPay, BTC-e Codes. No DEPOSIT or WITHDRAW fees! In fact currently there are no fees for any USD deposit, or withdraw for any customers. We have more options coming soon for US customers as well.
submitted by BitJohn to Bitcoin [link] [comments]

How to deposit bitcoins into Cryptsy?

Anyone know where the deposit link is on cryptsy?
Or if the site is down? Thanks
submitted by GoneGalt to Bitcoin [link] [comments]

Bob The Magic Custodian



Summary: Everyone knows that when you give your assets to someone else, they always keep them safe. If this is true for individuals, it is certainly true for businesses.
Custodians always tell the truth and manage funds properly. They won't have any interest in taking the assets as an exchange operator would. Auditors tell the truth and can't be misled. That's because organizations that are regulated are incapable of lying and don't make mistakes.

First, some background. Here is a summary of how custodians make us more secure:

Previously, we might give Alice our crypto assets to hold. There were risks:

But "no worries", Alice has a custodian named Bob. Bob is dressed in a nice suit. He knows some politicians. And he drives a Porsche. "So you have nothing to worry about!". And look at all the benefits we get:
See - all problems are solved! All we have to worry about now is:
It's pretty simple. Before we had to trust Alice. Now we only have to trust Alice, Bob, and all the ways in which they communicate. Just think of how much more secure we are!

"On top of that", Bob assures us, "we're using a special wallet structure". Bob shows Alice a diagram. "We've broken the balance up and store it in lots of smaller wallets. That way", he assures her, "a thief can't take it all at once". And he points to a historic case where a large sum was taken "because it was stored in a single wallet... how stupid".
"Very early on, we used to have all the crypto in one wallet", he said, "and then one Christmas a hacker came and took it all. We call him the Grinch. Now we individually wrap each crypto and stick it under a binary search tree. The Grinch has never been back since."

"As well", Bob continues, "even if someone were to get in, we've got insurance. It covers all thefts and even coercion, collusion, and misplaced keys - only subject to the policy terms and conditions." And with that, he pulls out a phone-book sized contract and slams it on the desk with a thud. "Yep", he continues, "we're paying top dollar for one of the best policies in the country!"
"Can I read it?' Alice asks. "Sure," Bob says, "just as soon as our legal team is done with it. They're almost through the first chapter." He pauses, then continues. "And can you believe that sales guy Mike? He has the same year Porsche as me. I mean, what are the odds?"

"Do you use multi-sig?", Alice asks. "Absolutely!" Bob replies. "All our engineers are fully trained in multi-sig. Whenever we want to set up a new wallet, we generate 2 separate keys in an air-gapped process and store them in this proprietary system here. Look, it even requires the biometric signature from one of our team members to initiate any withdrawal." He demonstrates by pressing his thumb into the display. "We use a third-party cloud validation API to match the thumbprint and authorize each withdrawal. The keys are also backed up daily to an off-site third-party."
"Wow that's really impressive," Alice says, "but what if we need access for a withdrawal outside of office hours?" "Well that's no issue", Bob says, "just send us an email, call, or text message and we always have someone on staff to help out. Just another part of our strong commitment to all our customers!"

"What about Proof of Reserve?", Alice asks. "Of course", Bob replies, "though rather than publish any blockchain addresses or signed transaction, for privacy we just do a SHA256 refactoring of the inverse hash modulus for each UTXO nonce and combine the smart contract coefficient consensus in our hyperledger lightning node. But it's really simple to use." He pushes a button and a large green checkmark appears on a screen. "See - the algorithm ran through and reserves are proven."
"Wow", Alice says, "you really know your stuff! And that is easy to use! What about fiat balances?" "Yeah, we have an auditor too", Bob replies, "Been using him for a long time so we have quite a strong relationship going! We have special books we give him every year and he's very efficient! Checks the fiat, crypto, and everything all at once!"

"We used to have a nice offline multi-sig setup we've been using without issue for the past 5 years, but I think we'll move all our funds over to your facility," Alice says. "Awesome", Bob replies, "Thanks so much! This is perfect timing too - my Porsche got a dent on it this morning. We have the paperwork right over here." "Great!", Alice replies.
And with that, Alice gets out her pen and Bob gets the contract. "Don't worry", he says, "you can take your crypto-assets back anytime you like - just subject to our cancellation policy. Our annual management fees are also super low and we don't adjust them often".

How many holes have to exist for your funds to get stolen?
Just one.

Why are we taking a powerful offline multi-sig setup, widely used globally in hundreds of different/lacking regulatory environments with 0 breaches to date, and circumventing it by a demonstrably weak third party layer? And paying a great expense to do so?
If you go through the list of breaches in the past 2 years to highly credible organizations, you go through the list of major corporate frauds (only the ones we know about), you go through the list of all the times platforms have lost funds, you go through the list of times and ways that people have lost their crypto from identity theft, hot wallet exploits, extortion, etc... and then you go through this custodian with a fine-tooth comb and truly believe they have value to add far beyond what you could, sticking your funds in a wallet (or set of wallets) they control exclusively is the absolute worst possible way to take advantage of that security.

The best way to add security for crypto-assets is to make a stronger multi-sig. With one custodian, what you are doing is giving them your cryptocurrency and hoping they're honest, competent, and flawlessly secure. It's no different than storing it on a really secure exchange. Maybe the insurance will cover you. Didn't work for Bitpay in 2015. Didn't work for Yapizon in 2017. Insurance has never paid a claim in the entire history of cryptocurrency. But maybe you'll get lucky. Maybe your exact scenario will buck the trend and be what they're willing to cover. After the large deductible and hopefully without a long and expensive court battle.

And you want to advertise this increase in risk, the lapse of judgement, an accident waiting to happen, as though it's some kind of benefit to customers ("Free institutional-grade storage for your digital assets.")? And then some people are writing to the OSC that custodians should be mandatory for all funds on every exchange platform? That this somehow will make Canadians as a whole more secure or better protected compared with standard air-gapped multi-sig? On what planet?

Most of the problems in Canada stemmed from one thing - a lack of transparency. If Canadians had known what a joke Quadriga was - it wouldn't have grown to lose $400m from hard-working Canadians from coast to coast to coast. And Gerald Cotten would be in jail, not wherever he is now (at best, rotting peacefully). EZ-BTC and mister Dave Smilie would have been a tiny little scam to his friends, not a multi-million dollar fraud. Einstein would have got their act together or been shut down BEFORE losing millions and millions more in people's funds generously donated to criminals. MapleChange wouldn't have even been a thing. And maybe we'd know a little more about CoinTradeNewNote - like how much was lost in there. Almost all of the major losses with cryptocurrency exchanges involve deception with unbacked funds.
So it's great to see transparency reports from BitBuy and ShakePay where someone independently verified the backing. The only thing we don't have is:
It's not complicated to validate cryptocurrency assets. They need to exist, they need to be spendable, and they need to cover the total balances. There are plenty of credible people and firms across the country that have the capacity to reasonably perform this validation. Having more frequent checks by different, independent, parties who publish transparent reports is far more valuable than an annual check by a single "more credible/official" party who does the exact same basic checks and may or may not publish anything. Here's an example set of requirements that could be mandated:
There are ways to structure audits such that neither crypto assets nor customer information are ever put at risk, and both can still be properly validated and publicly verifiable. There are also ways to structure audits such that they are completely reasonable for small platforms and don't inhibit innovation in any way. By making the process as reasonable as possible, we can completely eliminate any reason/excuse that an honest platform would have for not being audited. That is arguable far more important than any incremental improvement we might get from mandating "the best of the best" accountants. Right now we have nothing mandated and tons of Canadians using offshore exchanges with no oversight whatsoever.

Transparency does not prove crypto assets are safe. CoinTradeNewNote, Flexcoin ($600k), and Canadian Bitcoins ($100k) are examples where crypto-assets were breached from platforms in Canada. All of them were online wallets and used no multi-sig as far as any records show. This is consistent with what we see globally - air-gapped multi-sig wallets have an impeccable record, while other schemes tend to suffer breach after breach. We don't actually know how much CoinTrader lost because there was no visibility. Rather than publishing details of what happened, the co-founder of CoinTrader silently moved on to found another platform - the "most trusted way to buy and sell crypto" - a site that has no information whatsoever (that I could find) on the storage practices and a FAQ advising that “[t]rading cryptocurrency is completely safe” and that having your own wallet is “entirely up to you! You can certainly keep cryptocurrency, or fiat, or both, on the app.” Doesn't sound like much was learned here, which is really sad to see.
It's not that complicated or unreasonable to set up a proper hardware wallet. Multi-sig can be learned in a single course. Something the equivalent complexity of a driver's license test could prevent all the cold storage exploits we've seen to date - even globally. Platform operators have a key advantage in detecting and preventing fraud - they know their customers far better than any custodian ever would. The best job that custodians can do is to find high integrity individuals and train them to form even better wallet signatories. Rather than mandating that all platforms expose themselves to arbitrary third party risks, regulations should center around ensuring that all signatories are background-checked, properly trained, and using proper procedures. We also need to make sure that signatories are empowered with rights and responsibilities to reject and report fraud. They need to know that they can safely challenge and delay a transaction - even if it turns out they made a mistake. We need to have an environment where mistakes are brought to the surface and dealt with. Not one where firms and people feel the need to hide what happened. In addition to a knowledge-based test, an auditor can privately interview each signatory to make sure they're not in coercive situations, and we should make sure they can freely and anonymously report any issues without threat of retaliation.
A proper multi-sig has each signature held by a separate person and is governed by policies and mutual decisions instead of a hierarchy. It includes at least one redundant signature. For best results, 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.

History has demonstrated over and over again the risk of hot wallets even to highly credible organizations. Nonetheless, many platforms have hot wallets for convenience. While such losses are generally compensated by platforms without issue (for example Poloniex, Bitstamp, Bitfinex, Gatecoin, Coincheck, Bithumb, Zaif, CoinBene, Binance, Bitrue, Bitpoint, Upbit, VinDAX, and now KuCoin), the public tends to focus more on cases that didn't end well. Regardless of what systems are employed, there is always some level of risk. For that reason, most members of the public would prefer to see third party insurance.
Rather than trying to convince third party profit-seekers to provide comprehensive insurance and then relying on an expensive and slow legal system to enforce against whatever legal loopholes they manage to find each and every time something goes wrong, insurance could be run through multiple exchange operators and regulators, with the shared interest of having a reputable industry, keeping costs down, and taking care of Canadians. For example, a 4 of 7 multi-sig insurance fund held between 5 independent exchange operators and 2 regulatory bodies. All Canadian exchanges could pay premiums at a set rate based on their needed coverage, with a higher price paid for hot wallet coverage (anything not an air-gapped multi-sig cold wallet). Such a model would be much cheaper to manage, offer better coverage, and be much more reliable to payout when needed. The kind of coverage you could have under this model is unheard of. You could even create something like the CDIC to protect Canadians who get their trading accounts hacked if they can sufficiently prove the loss is legitimate. In cases of fraud, gross negligence, or insolvency, the fund can be used to pay affected users directly (utilizing the last transparent balance report in the worst case), something which private insurance would never touch. While it's recommended to have official policies for coverage, a model where members vote would fully cover edge cases. (Could be similar to the Supreme Court where justices vote based on case law.)
Such a model could fully protect all Canadians across all platforms. You can have a fiat coverage governed by legal agreements, and crypto-asset coverage governed by both multi-sig and legal agreements. It could be practical, affordable, and inclusive.

Now, we are at a crossroads. We can happily give up our freedom, our innovation, and our money. We can pay hefty expenses to auditors, lawyers, and regulators year after year (and make no mistake - this cost will grow to many millions or even billions as the industry grows - and it will be borne by all Canadians on every platform because platforms are not going to eat up these costs at a loss). We can make it nearly impossible for any new platform to enter the marketplace, forcing Canadians to use the same stagnant platforms year after year. We can centralize and consolidate the entire industry into 2 or 3 big players and have everyone else fail (possibly to heavy losses of users of those platforms). And when a flawed security model doesn't work and gets breached, we can make it even more complicated with even more people in suits making big money doing the job that blockchain was supposed to do in the first place. We can build a system which is so intertwined and dependent on big government, traditional finance, and central bankers that it's future depends entirely on that of the fiat system, of fractional banking, and of government bail-outs. If we choose this path, as history has shown us over and over again, we can not go back, save for revolution. Our children and grandchildren will still be paying the consequences of what we decided today.
Or, we can find solutions that work. We can maintain an open and innovative environment while making the adjustments we need to make to fully protect Canadian investors and cryptocurrency users, giving easy and affordable access to cryptocurrency for all Canadians on the platform of their choice, and creating an environment in which entrepreneurs and problem solvers can bring those solutions forward easily. None of the above precludes innovation in any way, or adds any unreasonable cost - and these three policies would demonstrably eliminate or resolve all 109 historic cases as studied here - that's every single case researched so far going back to 2011. It includes every loss that was studied so far not just in Canada but globally as well.
Unfortunately, finding answers is the least challenging part. Far more challenging is to get platform operators and regulators to agree on anything. My last post got no response whatsoever, and while the OSC has told me they're happy for industry feedback, I believe my opinion alone is fairly meaningless. This takes the whole community working together to solve. So please let me know your thoughts. Please take the time to upvote and share this with people. Please - let's get this solved and not leave it up to other people to do.

Facts/background/sources (skip if you like):



Thoughts?
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

Warning: Do NOT do business with Cryptsy. They have stolen my Bitcoin and are now ignoring my support requests.

I attempted a withdrawal through Cryptsy a week ago and it's been in a pending state. When I open support tickets they come back with generic canned responses. It's quite obvious they are just keeping the money while bitcoin price is high because they don't have the real funds to back it up.
Now they are ignoring my support requests, but here are some of the canned responses I got at the beginning:
Hello Ben,
Thank you for contacting us about this issue. I apologize for the inconvenience this may have caused you. We are experiencing a delay when it comes to processing BTC LTC and BTCD withdrawal transactions. Our technical team is working hard to get the withdrawals moving as fast as they can. Thank you for your patience as we work to resolve this matter.
Please note that you also have the option to cancel the transaction while waiting for the issue to be resolved. If you wish to do this, kindly respond to this ticket so I can process a cancellation request for you.
Sincerely,
Of course their service page mentions nothing about any outage:
https://www.cryptsy.com/pages/status
Thank you for contacting us again. We apologize for the continued problems we are having with some withdrawals. We appreciate your patience as we continue to work on the problem as we hope to have it resolved soon. Some suggestions that are working for "some" users": a) Verify your account to Tier Level 2 b) Request a cancellation of transaction and try making them in smaller amounts. Again we thank you for your patience as we try to resolve the technical problems we are having.
submitted by ben174 to Bitcoin [link] [comments]

'What do you mean by sign message? Would you like us to turn off your 2FA?'

'What do you mean by sign message? Would you like us to turn off your 2FA?' submitted by cryptodude1 to Bitcoin [link] [comments]

[PSA] Cryptsy is not allowing bitcoin withdrawal.

Thought the community would like to know that the exchange Cryptsy has not allowed me to withdraw my coins for over two weeks now. First request to withdraw coins was made on the 5th of November, 2015. After a week or so the support staff cancelled the withdrawal request. Re-requested withdrawal and still no coins. On their website it states 'pending'. I can not recommend anyone using Cryptsy for any trading and if you have any coins stored with them, I would recommend requesting the withdrawal of them immediately.
submitted by dslip to Bitcoin [link] [comments]

I Lost Trust in Crypto after Cryptsy's Bankruptcy, Now I Support It in My Store

I Lost Trust in Crypto after Cryptsy's Bankruptcy, Now I Support It in My Store

My Initial Experience with Cryptocurrencies Didn't Go Well

Back in 2016 I decided to test the waters in cryptocurrencies. I started learning about exchanges, wallets, etc. My luck made me choose Cryptsy because of a referral at Bitcointalk and started delving in depositing funds, a bit of day trading, etc. I was starting to trust cryptocurrencies because my orders were successful and my funds grew as a result, I stopped seeing crypto as a fun game and started to think seriously about depositing bigger sums of money after that.
Paul Vernon fled to China with $3.3M in stolen funds from Cryptsy clients
But luckily news about the CEO of Cryptsy stealing the company's funds and the cancellation of withdrawals blew up before I deposited money there to scale up the trading. The hit wasn't hard I lost only about $40, I initially deposited like $20, but I also lost trust and an opportunity to have bought BTC at $600 and I chose to ignore everything about crypto until Aug.-Sep. this year.

After Three Years Some Conferences Sparked My Hope

Who made me finally take the plunge was John Mcafee's educating explanations in several of his talks. These helped me see the potential of blockchain beyond transaction tracking. The potential of registering events, historical, political, medical & scientific facts and discoveries, patents, plans and blueprints, etc. etc. all bypassing lies, censorship and manipulation is especially thrilling. Although John Mcafee is a bit eccentric he knows how to educate and convey this huge potential, these possibilities made me want to support cryptocurrencies.
Although peculiar Mcafee knows how to convey the potential of blockchain

How I Am Supporting Cryptocurrencies in My Store

For now I am supporting three cryptocurrencies in two ways:
  • Accepting payments in three cryptocurrencies: Bitcoin, Litecoin and Ethereum.
  • An affiliate program in which I pay my affiliates in Bitcoin if they so choose, instead of using Paypal.
  • Listing my store in cryptocurrency support communities like Cryptwerk
Payment options at checkout with a 3 option drop-down menu for cryptocurrencies
I may make payments to my affiliates in the other two cryptocurrencies if there is enough demand. As a small summary of the characteristics of the affiliate program, it has:
  • Commissions are 9% or 18% depending on your volume of sales (10 or more products per week).
  • Payments through PayPal or BTC.
  • Tracking of sales through custom promotional code.
  • Free to sign up. It is required to keep in contact with me.
My blog & store is Find Good Health I try to help people there learn to achieve and keep a good health and well-being by themselves through information about nutrition, fitness, complementary therapies and emotional balance.
For this I write in my blog about therapies and health advice, always trying to verify any advice and claim with sources in research and medical studies. One objective I have with my blog is to fight the overload of false health information, easy & quick remedies and poorly backed claims made in social media and most health and wellness blogs.
FindGoodHealth.org Homepage
Supporting the blog I offer a small selection of eco-friendly fitness, yoga & meditation tools and accessories, 100% natural skincare products, beauty & acupuncture devices, etc. All of them follow the same rule as my blog: "any benefit or claim any product has is backed by research studies", you can check this by the long text any product page has in comparison with traditional stores like Amazon.

Petitions & Questions to The Community

Since I'm a beginner accepting cryptocurrency payments I'd like your opinion on a couple of things:
  • It seems our Google overlords have recently changed the way Google Search Engine promotes web pages to higher positions in the search result page. Higher positions means more visitors, Google is putting more value if the readers interact more with the site they're visiting.
  • In my website that means writing a comment in my blog posts, if you could comment on any post you like or found useful, even to just show your support, say thanks or hi I'd be very appreciated. I'm working on an incentive to motivate my readers to comment but I admit I rarely do it myself, it's a bit of a pita nowadays :P Hate to ask you this but...
https://preview.redd.it/5k7w99zfdat31.jpg?width=300&format=pjpg&auto=webp&s=c79515f7099aea20e82381ef527bd883efe82bdf
  • For now, I'm using direct cryptocurrency payments, that means when you make a transaction, the funds are transferred to my account. In the event you'd like a refund because there's a problem with the shipping or the product is defective I'd have to personally transfer the funds back to your wallet.
  • Do you find this form of payment trustworthy in a store like mine or would you prefer using a payment platform (a middleman) that keeps funds on hold until you receive your product at home?
Sorry did not find one with Litecoin ;^_^
  • If you are seriously thinking about becoming an affiliate marketer and having read my affiliate program, its conditions, form of payment, sales attribution and lack of statistics like bigger stores like Amazon have.
  • What do you think about the program, its conditions and higher percentages are attractive enough to sign up? Or would you rather sign up for program like Amazon? If my program didn't seem good enough for you what conditions you disliked? Can you compare them to other programs?
https://preview.redd.it/jl339ag7dat31.jpg?width=236&format=pjpg&auto=webp&s=40be39688319f3499fbb6dc068ad396d5564cb45
submitted by FoamingPygmy to litecoin [link] [comments]

Big Vern from crypsty drops his two cents about Vertcoin

Big Vern from crypsty drops his two cents about Vertcoin submitted by fareal-sha to CryptoCurrency [link] [comments]

Why Tether could collapse

Taken from https://forums.prohashing.com/viewtopic.php?f=11&t=5964:
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Currently, Tether, which is supposed to be a coin pegged to the dollar, is trading for just 97 cents. Bitfinex, whose CEOs are intertwined with Tether's operations, has decoupled from the other markets. Given that there are billions of Tethers outstanding, many believe that Tether's collapse would be catastrophic to the cryptocurrency industry. They're right, because that would be exactly the sort of panic that is needed to take bitcoins down to the further capitulation that I've been talking about.
I think that it's important, however, to differentiate what is likely to happen to exchanges in a similar situation to Bitfinex and Tether, and what happened to exchanges like Mt. Gox and Cryptsy. In the latter two cases, money was actually stolen from the exchanges, and those exchanges illegally continued to operate while they were insolvent. In the current situation, the exchanges that will fail are likely to be able to fully account for all assets.
However, as I've been repeatedly mentioning, there is a paradoxical effect taking place right now where banks are becoming much more strict in closing accounts of completely legal cryptocurrency businesses, despite a smaller percentage of cryptocurrency than ever before being used for illegal activities. It no longer matters whether a company actually has dollars. It only matters whether those dollars can be accessed by the company.
Every time banks have decided to close our accounts, the procedure is always the same. They say that deposits to the accounts will be rejected beginning immediately, but the account can continue to be used to send money out for a month or so. If Bitfinex has had its banks close its accounts, then what is happening right now is exactly what we should expect to see. The banks, without warning, would have notified Bitfinex that they were closing their accounts and were prohibiting deposits immediately. That would force them to set the site to stop accepting wire transfers. Withdrawals, on the other hand, would not yet be suspended, so the exchange can continue sending money to customers who want to receive money. Slowdowns in withdrawals, though reported as suspicious, could simply be due to the high volume of wires requested by panicked customers.
This bank account closure process we've experienced sets a deadline until access to the account is blocked and the money must be removed. Since humans like round numbers, in our case the deadlines given have usually been one month from now or at the end of the next month.
Given this experience, if I had to guess what is most likely to happen in a hypothetical situation where an exchange has lost banking services, it is that the exchange will end up sitting on a cashier's check for billions of dollars. The deadline will pass, they will not be able to obtain a new bank account, and the bank will mail them a check. Coins associated with the exchange would crash when dollar withdrawals are halted, bringing the cryptocurrency markets down with it, starting the next downward phase of this bubble cycle. Eventually, the exchange will either obtain a bank account or will declare bankruptcy, because it can't spend any of its money to continue operations. If bankruptcy occurs, then customers might end up losing money solely because the lawyers involved in the process would take fees from the previously fully backed assets. The bankruptcy attorney will probably have an easier time of getting a bank to cash the check to pay former customers.
I'm confident that the banking environment has now become so difficult that we will likely see at least one major exchange go out of business solely because it cannot obtain a bank account. The inability to obtain a bank account will not be indicative of any wrongdoing by the company, so it isn't possible to predict which exchange it will be by looking at how trustworthy it seems to be. And the truth is that I wouldn't be able to say that the panic and price crashes that will ensue from this exchange failure will be unwarranted - the inability to obtain bank accounts is significantly holding back the industry right now. This is a ticking time bomb - one that would cause me to hedge my bets in a more stable currency if I had a bank account.
What's ironic about all of it is that if that happens, the industry will have regressed since the bottom of the last bubble. Last time, customers lost because the bad guys took their money. Customers will have lost this time because the good guys tied up honest people's money in the banking and legal system, despite the CEOs having done nothing wrong.
submitted by MattAbrams to BitcoinMarkets [link] [comments]

Found a sweet profit switching pool

I've been mining here for the past 30+ hours and using it to swap to LTC. I'm getting more than double the LTC in the same amount of time. I thought I would share. (http://pool.trademybit.com)
submitted by eviljester to litecoinmining [link] [comments]

Autosell and deposit address Earn 0.01 BTC every 4 minutes (earnings 5-7 Bitcoin per month) How to use the Cryptsy auto-sell feature BestBTCWallets - YouTube BTXtrader - The Best BITCOIN - LITECOIN trading platform - Link with Bitstamp, Criptsy and more

Cryptsy.com is an online financial platform that provides their users with a secure online space to trade and exchange a wide variety of alternative “crypto-currency” with a focus on the popular currency Bitcoin. Crypto-currency is a term used to describe alternative forms of currency which only exist in electronic formats. Bitcoin is probably the best known form of crypto-currency, as ... The 21st of January I made a deposit from my Multibit wallet to Cryptsy. The amount was 0,43 bitcoin but this never arrived at my Cryptsy account. I have made deposits before and after and everything Cryptsy: Confirmed 0.75 BTC deposit from ~48 hours ago not credited to account. Many reports of similar issues. Considering a flight to visit BigVern in Florida. Close. 52. Posted by. u/alheim. 5 years ago. Archived. Cryptsy: Confirmed 0.75 BTC deposit from ~48 hours ago not credited to account. Many reports of similar issues. Considering a flight to visit BigVern in Florida. Since I opened my ... Twitter here: @Cryptsy buy bitcoin. Coins-E Coins-E has solid security. With two factor authentication, we guarantee to protect your account. Twitter here: @Coins_E buy bitcoin . LocalBitcoins LocalBitcoins.com is a person-to-person bitcoin trading site. Twitter here: @LocalBitcoins buy bitcoin. Cex.io We aim to improve the current platform for trading cryptocurrencies and commodities. Twitter ... Users will also have the option to deposit mined coins directly into a Cryptsy trading account. As Cryptsy CEO Paul Vernon told CoinDesk: “There’ll be quite a few [coins available]. Basically, everything you see on Cryptsy that is mineable should probably be mineable on Mintsy as well.” Tradable bitcoin mining contracts are rapidly becoming their own market, with major bitcoin exchange ...

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Autosell and deposit address

This is an instructional video going in depth on how to create a deposit address and all of the various functions of autosell. Link: https://www.cryptsy.com/ This video will show you how to setup and use the Cryptsy auto-sell feature to automatically sell your altcoin deposits for bitcoins. You can read the articl... Just noticed that the site is back online, appear to be first in and have sold my Cryptsy shares before anyone else. Earnings 5-7 Bitcoin per month Just set the settings like in the video Registration: https://goo.gl/y3VTy7 bitcoin mining, what is bitcoin mining, mining bitcoin, bitcoin mining hardware, how do ... http://moneyandtech.com/October-24-news-update/ Florida law firm Silver Law has filed lawsuits against bitcoin companies Cryptsy and Bitcoin Savings and Trus...

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