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Thread: Cryptocurrency

  1. #361
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    What I don't like about Ripple is its quick pump and dump nature - a very deceptive "crypto" - be very careful with it, Fantastika. By the way, I tried to participate in yesterday's pump of XRP on Binance and the site would just freeze on me - it seems they don't allow people in when there is an obvious pump - everything worked fine but when I tried to buy XRP the page would just freeze, reload wasn't helping. Besides, it has gone bonkers two times already - so, anyone who might be planning to use Binance or is using it - watch out for possible surprises. I am not saying it cannot be used to toss coins back and forth every now and then though. But basically at any given moment this exchange can play serious tricks on you - the Asian mentality galore there. Which is a shame, an excellent design and cool features, someone did a great job putting it all together. I am almost certain it will stop functioning altogether for 1-3 days if there is an exponential pump-dump one day, then they will claim they have been busy fighting off deadly hacker attacks or removing bugs and that all funds are safe - but the momentum will be lost, they gain, you lose.
    I have had quite a smooth ride up on NEM, almost 100% up from 21 cents to almost 40, now the Ethereum Classic time is approaching - they will have a new mobile wallet in 10 days, etc. It is bound to leap to 40-50 pretty soon, maybe even higher. Besides, it behaves well on dumps, doesn't fall that much. So, ETC is gradually becoming one of the top priorities for me, as of now. ETH is underestimated as well.

  2. #362
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    Quote Originally Posted by Russian Lad View Post
    What I don't like about Ripple is its quick pump and dump nature - a very deceptive "crypto" - be very careful with it, Fantastika. By the way, I tried to participate in yesterday's pump of XRP on Binance and the site would just freeze on me - it seems they don't allow people in when there is an obvious pump - everything worked fine but when I tried to buy XRP the page would just freeze, reload wasn't helping. Besides, it has gone bonkers two times already - so, anyone who might be planning to use Binance or is using it - watch out for possible surprises. I am not saying it cannot be used to toss coins back and forth every now and then though. But basically at any given moment this exchange can play serious tricks on you - the Asian mentality galore there. Which is a shame, an excellent design and cool features, someone did a great job putting it all together. I am almost certain it will stop functioning altogether for 1-3 days if there is an exponential pump-dump one day, then they will claim they have been busy fighting off deadly hacker attacks or removing bugs and that all funds are safe - but the momentum will be lost, they gain, you lose.
    I have had quite a smooth ride up on NEM, almost 100% up from 21 cents to almost 40, now the Ethereum Classic time is approaching - they will have a new mobile wallet in 10 days, etc. It is bound to leap to 40-50 pretty soon, maybe even higher. Besides, it behaves well on dumps, doesn't fall that much. So, ETC is gradually becoming one of the top priorities for me, as of now. ETH is underestimated as well.
    Well, it is possible that their servers were overloaded. Just sayin'... We're not talking Google or Amazon here. Binance might be some geek with a server in the spare room.
    Government is like Fertilizer. A little is good, too much is a pile of crap.

  3. #363
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    Well, it is possible that their servers were overloaded. Just sayin'... We're not talking Google or Amazon here. Binance might be some geek with a server in the spare room.
    No, it is not some geek in a spare room, it is a multimillion dollar racket. They are #3 in the world, have their own token. It happened to me in the past as well, on three occasions, I even b'tched about it on one of their forums and got banned there, so it doesn't seem to be an overload of a page, but an intentional action. Once I could not get in for several hours because "there was a bug in the login system". Which is a stupid explanation for a multimillion dollar site, it is extremely hard to "bug" the login, even intentionally. It happens to many dodgy exchanges - "problems" on dumps and pumps, they are making money this way. I thought Binance was above that but I was mistaken. Just be careful with them, that's all, cannot say you cannot use them. But prepare to be "frozen" at the most inappropriate moment or to be unable to access your account during a pump or a dump. Once in February (I think it was like February 6-8th) they were down for about 2 days - right in the beginning of a big pump. What may happen - you may stake your cash on a coin, it will have a pump but you will not be able to accesss your funds till be pump is over and the coin is dumped. Just one instance of what may happen. Inconvenient. Even if we assume it was unintentional - ok, offer me compensation, I have lost money/profit because of your action/inaction, I could do with some extra free coins. But there was nothing of the sort. Asians. Always think they are smarter than you are. Not all of them are like this, of course, but "things happens". So, I am mostly using Binance to exchange coins - get in with my coins - exchange - get out. Keeping a balance there is way too risky, imho.
    Last edited by Russian Lad; 21-04-2018 at 03:08.

  4. #364
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    Even right now - there is a clear pump of Tron, I have tried accessing the page for TRX-BTC, it gets frozen. Disgusting. Bet all will be ok by the time it is dumped.

  5. #365
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    Quote Originally Posted by Russian Lad View Post
    No, it is not some geek in a spare room, it is a multimillion dollar racket. They are #3 in the world, have their own token. It happened to me in the past as well, on three occasions, I even b'tched about it on one of their forums and got banned there, so it doesn't seem to be an overload of a page, but an intentional action. Once I could not get in for several hours because "there was a bug in the login system". Which is a stupid explanation for a multimillion dollar site, it is extremely hard to "bug" the login, even intentionally. It happens to many dodgy exchanges - "problems" on dumps and pumps, they are making money this way. I thought Binance was above that but I was mistaken. Just be careful with them, that's all, cannot say you cannot use them. But prepare to be "frozen" at the most inappropriate moment or to be unable to access your account during a pump or a dump. Once in February (I think it was like February 6-8th) they were down for about 2 days - right in the beginning of a big pump. What may happen - you may stake your cash on a coin, it will have a pump but you will not be able to accesss your funds till be pump is over and the coin is dumped. Just one instance of what may happen. Inconvenient. Even if we assume it was unintentional - ok, offer me compensation, I have lost money/profit because of your action/inaction, I could do with some extra free coins. But there was nothing of the sort. Asians. Always think they are smarter than you are. Not all of them are like this, of course, but "things happens". So, I am mostly using Binance to exchange coins - get in with my coins - exchange - get out. Keeping a balance there is way too risky, imho.
    Very clever, even sounds like they are criminals.

    They don't outright steal your money, they just alter the ground game, change the rules half-way through, and even disqualify you from playing.

    You go to the Produckti store, to get moloko, which is open M-F, 9-5, and there's a sign on it which says "Closed today, but open to certain people."

    Criminals - bank fraud, conspiracy to defraud, racketeering, etc.

    Maybe they are paying off whatever "oversight" there is in China, Inc. or where ever they are. If it's China, maybe the government itself, or a piece of the government, running the scam. They are too clever by far, like when they build an island in the middle of nowhere, then claim it's "Chinese territory".

    Yes, you are right, it's not a server problem.

    Take some notes, about times and price movement, but who would you send the info to? Interpol? Whoever investigates this kind of stuff is not tech-savvy enough to get a handle on this unethical activity, and probably doesn't have jurisdictional authority, even if they can locate the bad guys.

    Wonder if one could write a macro to try accessing it every 10 seconds, in a running loop, that would prove it was closed continuously.
    Last edited by TheInterocitor; 21-04-2018 at 10:53.
    Government is like Fertilizer. A little is good, too much is a pile of crap.

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  7. #366
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    Maybe they are paying off whatever "oversight" there is in China, Inc. or where ever they are. If it's China, maybe the government itself, or a piece of the government, running the scam. They are too clever by far, like when they build an island in the middle of nowhere, then claim it's "Chinese territory".

    Yes, you are right, it's not a server problem.

    Take some notes, about times and price movement, but who would you send the info to? Interpol? Whoever investigates this kind of stuff is not tech-savvy enough to get a handle on this unethical activity, and probably doesn't have jurisdictional authority, even if they can locate the bad guys.

    All the cryptos seem to be heavily manipulated. I will tell you more - there is a certain pattern according to which each coin grows and falls, if you look closer. Some grow gradually, others - in jolts, yet others - in zigzags, etc. A lot depends even on the total cap - when a coin "wakes up". It may help making the right bets by being there on the right spot before a pump and going away before a dump.

    Take some notes, about times and price movement, but who would you send the info to? Interpol? Whoever investigates this kind of stuff is not tech-savvy enough to get a handle on this unethical activity, and probably doesn't have jurisdictional authority, even if they can locate the bad guys.
    It is hard to prove evil intent. I know at least two rather big exchanges that are even worse, much worse - one is also of Asian origin (China, just like Binance), its name sounds like a Russian curse word. Another one is of Ukrainian-Romanian origin - both seem to just steal money from their clients using various dodges and pretending it was a technical fault that was not a fault of their own, etc. Of course, they also adore "getting broken" or "attacked by hackers" during the high peaks.

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