FallingKnife

UNO Exchange Discussion

55 posts in this topic

 

At this hour Cryptsy is showing a message, "Due to a server failure, all wallets are offline. We will have wallets back online quickly as possible."

 

Cryptsy's Uno cold wallet is currently

  27,232.5 UNO 13.87 %

 

 

 

They tweeted when it happened which, at the time of my post here, was over 13 hours ago.  That must have been a big server.  I guess they've never heard of RAID.

 


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Cryptsy's Uno wallet is now at 11.42% of supply, 22,440 Un.

 

Declining rapidly.  People seem to be using Uno to escape Cryptsy.

 

What do you all make of this?


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
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Remember that exchanges are for trading.  Store your Unobtanium long term with Electrum Wallet for UNO.

 

https://cryptap.us/uno/electrum/

 

This is a great way to store Uno. You can recover your wallet if your computer crashes by inputting the "seed" phrase. 

If you are storing UNO long term on Cryptsy, or any other exchange, consider bringing your UNO home.


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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Cryptsy's UNO cold wallet is now at less than 9.5% of total supply, about 18.6K coins. Its draining quickly. Uno works fine for withdrawing funds from Cryptsy, and so demand for Uno is much higher there:  Its the difference between .0058 and .0039.

 

There is talk at the other place about how this demand at Cryptsy is supressing prices on other exchanges.

 

It makes perfect sense.

People are willing to pay more on Cryptsy to escape.
I am willing to buy more but I anticipate they will dump.

They buy at the escape price premium.
I anticipate a dump based on unusual demand created by Big Vern, and so I am willing to pay less.

The fair price is somewhere in between. Maybe.

There are only 18k Uno left in the Cryptsy cold wallet. Less than 9.5% of supply. If things get dicey there (and I know Gekko thinks everything at Crytpsy is just fine), then I am prudent to price low, anticipating that some Cryptsy traders are willing to settle for perhaps 1/2 of their bitcoin, rather than none.

Sorry, don't have 120 bitcoin laying around in at the moment to buy out everyone at Cryptsy for $3. Maybe next week.

Just as Gekko sees an opportunity, so do I.  We're just on opposite sides. Thats what makes a market. Either of us could be right. The cool thing is that, time will tell.  I hope Gekko isn't left scrambling to dump his bitcoin for Uno in the last days. But if he is, I'll be glad to buy him out cheap. :)


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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From Cryptsy chat today

dhyKItU.png

3WNtfew.png

ku7XYO3.png

BXsJhgx.png

 

F96g1Wl.png

The Uno cold wallet at Crypsy is now just 9.12% of supply, way down from a year ago.  
I'm glad so much Uno has been removed and is not exposed to the uncertainty there.

Jimmy likes this

Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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Nutz stuff.  Hopefully, they'll figure out what's going on, if there is actually anything wrong to begin with.


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Nutz stuff.  Hopefully, they'll figure out what's going on, if there is actually anything wrong to begin with.

There certainly are bad problems there. Its been going on for 2 months, poor communication, chat box is full of angry people.  The spreads on many alts have cracked open very wide as people trade bitcoin on Cryptsy for anything else they can transfer out.  Not a good situation. It is Uno's most active market, and their cold wallet has 19k uno. I gave them a lot of deference in the beginning, but its really gotten bad now. The situation has pushed the price of Un on Cryptsy to .005's and even 006's at one poin while on other exchanges its down in the 003's.  

 

As a guy who has seen a lot of big exchanges fail the past few years, this has all the traditional historical hallmarks. Best to stay away.

 

I hope they pull it out, but even if they do Cryptsy's rep & trust is extremely damaged. I don't like to dump on the exchange that houses my favorite coin's most active market, but this just can't be ignored. 


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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I have removed Coins-e.com and Coinbroker.io exchanges from the OP of the Unobtanium launch thread.

 

This weekend, test deposits of Uno sent to both exchanges, and both failed to post in the account after fully confirming on the blockchain. 48 hours has passed without a response from support. These exchanges have virtually no volume in any markets and imo are not worth the risk for Uno trading when there are better choices.

 

If they manage to contact me and restore the funds, I will gladly let you know.

 

A new UNO exchange was reported recently.  Bitebi9.com is obviously a Cryptsy clone. It offers a Uno/Cny market only that is showing a number of trades.  However, all attempts to generate a deposit address failed. 


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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On Cryptsy, it's pretty much all buy orders for Uno. Virtually no sell orders, even though Cryptsy has the highest buy prices for Uno.

.
Despite the higher buy prices, buy orders are very thin. I don't think there is even 2 btc on the entire buy side of Uno, all the way down to 1555 sats. People don't want to trade Uno for Btc on Cryptsy right now, but someone keeps trying to prevent the buy/sell gap from opening too wide. Perhaps bots.

The sell side is also thinning out. Since early Nov 2015, nearly 16k Uno has fled Cryptsy, according to observations of their known cold storage wallet. There is now just under 700 Un for sale beneath 0.006 btc.
To buy the entire visible book up to .011 would cost 20 btc and yield 1907 Un.

It makes me wonder about the 17,659.0 UNO, 8.98 % of supply, that is visible today in the Cryptsy cold wallet at https://chainz.cryptoid.info/uno/address.dws?202172.htm

Why are those coins still there, given the 3 months of problems?
They are not for sale (by virtue of the thin sell side).
The owners don't seem to be accumulating more Uno on Cryptsy (by virtue of there simply being no buy orders).
I am unaware of any reported withdrawal problems for Uno that would bind them to Cryptsy.

It seems irrational to me that the cold wallet is still so large, and that nothing is happening with those coins. But these things are usually rational, in retrospect...

Speculating on some possible scenarios for the Uno Cryptsy cold wallet:
Owners are simply uniformed about Cryptsy's situation
Owners are not concerned about what's going on
Cryptsy is the owner of much of the cold wallet
Owners are anticipating an even higher price by keeping the sell side thin

All we know for certain is that there is a lot of Uno still in a wallet that Cryptsy controls.
Anyway, it is interesting to watch this play out.


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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UNO is listed on Bitebi9.com which offers a CNY/UNO market.

 

This exchange appears Chinese in origin and is clearly a Cryptsy clone.

 

Last I checked, it does not generate a UNO deposit address, although it is showing Uno trades, presumably bots.

 

If you have more information about Biteb9.com, please share it with us.


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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Cryptsy has suspended all withdrawals since yesterday, including UNO.  People had been using UNO to escape Cryptsy since withdrawals of Bitcoin and other coins have been slow or non-operational as far back as October, 2015.

 

zdalA5D.png

 

I received the phishing email, which appeared to come from Cryptsy support

 

txC48Ad.png?1

 

The troubling question is, how did these hackers get a list of all of Cryptsy's customers?


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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I believe that's what they are trying to figure out.  They got a list of the SMS people via Twilio, but who knows how they got the list of the email people.

 

Either it's just another way for them to delay withdraws because they are out of money or they got hacked.  They might have hacked themselves, I don't know.  I wonder if they are still allowing deposits?


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Ther are two events at Cryptsy onJuly 29, 2014 that are interesting to me. That's the date that Crytpsy says they were hacked.  But it's also the date they suddenly moved 56,600 UNO to what was later determined to be their cold storage wallet. You can see it on the UNO rockchain here:

2014-07-29 13:17:36 is the time Cryptsy was purported hacked
2014-07-29 14:20:03 is the time Cryptsy moved UNO into a giant cold storage wallet.

One hour and 3 minutes after the hack, Cryptsy moved about 56.6K UNO to cold storage.

This could be coincidence -- maybe the move was planned, and this was the reason that the Lucky7 operator finally acted after months of monitoring, to prevent losing access to the coins..
Or, perhaps this was a fast reaction to loss of their Bitcoin, to protect valuable alts like UNO.
Or maybe it's something else.

I have a nagging voice in my head that says these events are somehow related.


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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Today I tried the instant exchange at SafeCex.com.  As these kinds of exchanges go, the price of Uno at SafeCex seemed fair, especially compared to the wide spread at shapeshift.io.

I paid about .00327 for UNO, which is competitive imo.

They seem to apply the instant buys directly to their order book.  Actually, this is a great feature. Why don't ALL bitcoin exchanges open up their order books for anonymous purchases.  I see no good reason why I should have to create an exchange account just to buy off the sell book. Instant purchases like this, at a competitive price and fee, makes sense.  I seriously think that every exchange should do this.

I watched the Bitcoin transaction go through and I had my Uno by the 3rd Bitcoin confirmation.  

SafeCex seems to have about 250 Uno for sale on the exchange.

I'm still unclear about exactly who or where SafeCex is, but my experience with their instant exchange was a good one.  Until this exchanges has a little history behind it, I'm content to snipe their sell book anonymously.


brwuJcQ.png




 


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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Cryptsy posted an update today. They seem to have come to an agreement with the hacker for the return of BTC.

Contract is online:
https://www.cryptsy.com/cryptsyrecoverybountyfinal.pdf

http://blog.cryptsy.com/


Certainly there is nothing more legally binding in this world than a contract with a guy who signs his name as "wrecker."

I hope it works out for everyone. I still can't imagine Cryptsy coming back from this given the coverup.


Unobtanium - the rare, fair cryptocurrency. Long term hodl. 250k Uno max. Low inflation. In it's 3rd year. This is a coin you want to hold. http://unobtanium.uno
Bitmessage me: BM-NBr8A6WCzJteqKvPH8VU1rc1dBUdmx5L

Reliable Altcoin Node Service offered at cost: Ask me about UNO;s Node Project and how your altcoin can benefit.

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