the knifeprty


cryptocurrency, trading

Cryptsy Going Gox

I have reluctantly been using Cryptsy for trading coins since last November.  Last month I was spooked off it after some whispers of internal problems and potential insolvency a la Mt. Gox. Last night it appears that Cryptsy had a meltdown of sorts (( And this morning, the infamous iterating step pattern appeared on the DOGE chart for Cryptsy- another big tell for me that something isn’t right at all…

Cryptsy DOGE Fail!!

Cryptsy DOGE Fail!!

Since leaving Cryptsy, I’ve been on Kraken for DOGE, but volumes across the board on Kraken are still dismal. What’s it going to take for people to help release the Kraken?? Are people really going to stick to the excuse that they don’t want to use Kraken because they have the trading pairs backward? 1XBT / 700000 XDG -> 142 satoshi, 1XDG / 142 satoshi -> ~700000 XDG. If you can trade, you can handle that math. An exodus to Kraken from Cryptsy would be good for the crypto coin ecosystem because it will force Cryptsy to shape up. When Cryptsy works, it’s not so bad. But man I can’t help but think how much better of a platform Kraken would be if it had the volumes that Cryptsy does…

Leave a Reply