Everyone crying about Exit Scam

Do you really think 3 big markets do an exit scam at the same time?

They are trying to do damage controll ffs. Bitcoin is fucked atm, blocksize is too small to sustain. 10k Unconfirmed Transactions and nobody increasing the fees. People realize their transactions dont get confirmed, they panic cashing out everything, furthermore slowing down the blockchain. It repeats and repeats and reapeats, until - the bubble burst - everyone sells their bitcoin at low prices - everyone wants to cash out. The price falls and falls, crashes to 150$. Now the smart people come in, realizing its just panic.

Buying tons and tons of Bitcoin, the price stabilizes - now the people try to cancel their deposits and overload the blockchain again. It all starts over.

Bitcoin price is flactuating to hard right now to keep a stable market, prices would need to be updated every hour.

Just wait. They will be back online untill this clusterfuck solved itself.


Comments


[83 Points] ExitScam:

Everyone crying about Exit Scam

LEAVE ME ALONE, I SAY...!

What did I do to deserve this shabby treatment?! :-\


[26 Points] NotGCHQBro:

people need to fucking wake up and stop thinking its even the majority of btc transactions that are dnm related at all. It's not and there has been major delays on transactions everywhere


[18 Points] alphabaysupport:

Alphabay is under attack as of now. We are working on it, but are planning some downtime ahead. Sorry for the trouble guys, it will be back soon!


[10 Points] asdfasdf0011:

Well unless they have been spending money from the wallet, like Alphabay has admitted to doing. When the price goes up their debt back to user instantly doubles and makes it much more difficult for them to pay it back. It becomes a determination if its better to walk away or run the site longer to pay it back.


[6 Points] Vendor_BBMC:

Everyone crying about Exit Scam

Are they?

Bitcoin prices onitems for sale are updated every few minutes. Any vendor who has offered escrow since MTGOX's owner was re arrested recently will have made a FORTUNE overall.

The bitcoin price has doubled, and if he doesn't get home soon to switch his trading bots back on, it will float back up to its natural level of $600 to $700 (he has spent the last year trying to dump more than a million stolen btc. Only Mark karpelese and the Winkelvoss twins posess enough bitcoin to control its price).

I haven't checked the average confirmation time on blockchain.info. Is it higher than usual?

The only marketplace where vendors can't withdraw is middle earth. they've always resented anyone withdrawing their money, lets face it. Unless they're complete dunderheads, vendors click "vacation mode" to hide their listings the minute they are unable to access their earnings.

Agora had a bitcoinless marketplace. All other marketplaces know that if they try to exit scam, they have less chance of avoiding prison than Sheep marketplace's owner had unless they own their own exchange, so relax.

I assumed some marketplaces were down because I made about $2k more than I usually do on a Thursday, off-market. No vendors have contacted me yelling "EXIT SCAM!" though, and they usually cotton-on first.


[4 Points] Skunkhunter23:

Finally, someone being sensible. A good clue that this all has to do with btc and the blockchain being fucked right now is -localbitcoins is/was having significant problems with their site/ transactions the past few days.


[4 Points] pm_me_cool_plants:

good time to buy ehh?


[3 Points] stripperjuice:

I'm flactuating hard right now too.


[3 Points] Idonu:

Wake up and all of a sudden everyone is yelling market exit scam :O.


[1 Points] AwesomeAsian:

Yeah, it doesn't seem too much like an exit scam to me. It's good to be suspicious, but some people are wining like it's a definite thing. Time will tell, but don't assume shit when there's insufficient evidence.


[1 Points] Molly-Cyrus:

You is smaht! Not like people say...like dumb, but smaht! Hansbald forDNM prez 2015....


[1 Points] Bitcoin_Chief:

Dash has plenty of block space to spare and mixing is built into the wallet.


[1 Points] throwaxanny:

Anybody crying exit scam is one of the under 18 year old high school kids that uses the darknet.


[1 Points] LittleWendt:

I think it goes quite a bit deeper than blockchain. Simple rules of economics are followed by admins who have a clue wtf they are doing. Dealing in hyper-inflated/deflated, extremely volatile currency is a horrible idea. Obviously BTC is still the only feasible way to go but when BTC prices are CLEARLY out of line, it is a way better option to shutter the doors and hold tight until the storm passes. They are protecting both the vendors and the consumers this way.

Say I wanted to buy some product generally worth $200. I deposit $200 worth of bitcoin and start going. Now, if the BTC rates double before I get to the purchase, I am essentially only spending half of what I put in for the same product... which is GREAT for the consumer. Now, say that BTC starts to devalue just as quickly as it grew. Assume it normalizes and gets back down to its "starting pont" - this SUCKS for the vendor. The effectively got fucked out of half the money. This, of course works both ways with currency volatility.

Either way, BTC volatility can cost you vendors or it can cost you consumers. Volatility is very, very bad for marketplaces and I'd hope that this recent down time is just an astute admin recognizing an opportunity to cash in some of their own profit BTC while protecting the general private economy of their market.

It's a double edged sword - They are prohibiting users with active wallets from realizing the profits but they are ensuring/protecting a fair marketplace. It's lose lose ultimately but it still requires a choice to be made.

ORRRRRRRRRRRRRRRRRRRR maybe I'm giving these guys too much credit and they are spending my $200 on bestiality porn.


[-1 Points] swimpappy:

I wished I wasn't such a greedy bastard and sold at $500, but this $400 stabilization is still good for my investing purposes. You kids buying drugs with your BTC are missing the boat. It is the easiest chart in the world to capitalize on. The OP posted the exact reasons the market would stabilize and to keep calm. Happens every time.


[-2 Points] Hansbald:

I wish I had some extra money, would have made about 1 or 2k $ with 200$ price reading is so easy right now