Re: CoinMarket.io | New, self-moderated support and news thread.
I'm still not convinced this is a scam. Just poor customer service and PR, because it's effectively a 1-man show with lots of issues to deal with (and likely another full-time job).
I think Kiur got caught out when the BTC got stolen. Reddcoin miners were also flooding his exchange with dust transactions, causing transactions to fail.
He's evidently now working through all the failed alt-coin transactions, and I suspect in the meantime hopes transaction fees will cover some of the BTC lost.
Question is, how much BTC got stolen, and how much was saved in offline wallets?
Kiur - we're a forgiving bunch, please just communicate your situation with us!
Here's an suggestion:
Re-credit all 'lost' BTC withdrawals back to their respective accounts. This would allow these people to trade and generate fees.
Until you have enough BTC to cover all withdrawals, any withdrawal from the exchange would be subject to a percentage haircut. Up to you how to calculate, based on timing and % lost.
Eventually you will become fully solvent once again, and we'll all be happy. Your exchange is one of the best, without these lost coin and bad PR issues of course.
I think Kiur got caught out when the BTC got stolen. Reddcoin miners were also flooding his exchange with dust transactions, causing transactions to fail.
He's evidently now working through all the failed alt-coin transactions, and I suspect in the meantime hopes transaction fees will cover some of the BTC lost.
Question is, how much BTC got stolen, and how much was saved in offline wallets?
Kiur - we're a forgiving bunch, please just communicate your situation with us!
Here's an suggestion:
Re-credit all 'lost' BTC withdrawals back to their respective accounts. This would allow these people to trade and generate fees.
Until you have enough BTC to cover all withdrawals, any withdrawal from the exchange would be subject to a percentage haircut. Up to you how to calculate, based on timing and % lost.
Eventually you will become fully solvent once again, and we'll all be happy. Your exchange is one of the best, without these lost coin and bad PR issues of course.
Good idea, but I think he's had it with coinmarket.io; he plans to shut it down. I actually don't blame him for that: a one-man show on the side is too little manpower to run an exchange (as we've seen.) And taking in a partner would be too durn risky right now, given all the bad feelings and suspicions the delays have generated.
But it would be interesting if a team stepped up to buy it from him, perhaps with he keeping a minority share as a silent "partner emeritus." He could fill the new team in on the troubles he's had. It would have to be a team - preferably a team whose members have no other responsibilities, so they can devote all their time to the exchange. An exchange can't be a one-man band any more.
Even that's no guarantee, of course. CryptoRush is run by a team...