Cryptsy: Trade over 60 different types of cryptocurrencies | Hacker News Reader

Cryptsy: Trade over 60 different types of cryptocurrencies

techendo.co

9 pointslowglow9 comments

I've been trading on this site for about a week. It does indeed have dozens of cryptocurrencies, many more than any other site I've seen.

That's good and bad. It's good to have a marketplace for them all. Nothing wrong with offering a place sell whatever. It's bad in that the vast majority of them are junk coins and will die in short order.

You shouldn't even consider trading in this world of alt-coins unless you know what you're doing. You should research each of them thoroughly and do your due diligence. You stand a very good chance of losing most of your investment in this sort of market.

They're really like pink sheet stocks, which I traded back a decade or so ago. I enjoyed that world, with its community of traders researching tiny, tiny, TINY companies to invest in. But like Pink Sheets, altcoins are the very definition of high risk. Even worse than pink sheets, altcoins are wholly unregulated and some may be outright scams.

As for the site itself, it's had some serious growing pains the last few days. Nearly unusable at times, and last night entire order books were somehow wiped, which caused some confusion and some VERY sharp changes in price.

I think the founder is making a legitimate attempt at things, he may or may not be up to it.

I'm having fun, and making a bit of money, but I can't recommend anyone else try it just yet.

From the HN guidelines:

   Please submit the original source. If a blog post reports
   on something they found on another site, submit the latter.

lowglow appears to be an experienced member here, so maybe I'm missing something, but this feels a little blogspammy to me.

lowglow is Dan Gailey, who runs Techendo.

This is true. I do post my opinions and share my blog posts through techendo, then I do share them here.

Yes, I saw that before I commented.

I'm Ben Burns. I run benjamincburns.com. If I'd made this exact post there and submitted it, would it have been voted to the front page (if only briefly, apparently)?

That's an actual question. Rephrased, am I misinterpreting the guidelines, or is Dan's status as a YC alumnus buying some leeway?

Also in the interest of full disclosure, I have a personal pet peeve against editorial news aggregators where editors/authors are expected to churn out article after article in an effort to profit from long tail traffic without adding anything meaningful to the content they aggregate (read: steal). Of course there's a broad spectrum of aggregator sites, and I wasn't familiar with Techendo, which isn't at all in the category I'm describing, before I saw this post. Seeing this very brief article as my first introduction flipped that "oh great, another shitty Gawker Media clone" flag, and I instantly wondered why it was on the front page.

So Dan, I'm not saying that you suck, or your site sucks, or even that your post sucks, but I am wondering aloud about how the community here works.

Wait, but when people complain about titles and say that the person should write a blog post and post that, this is the response they'll get?

Found the founder's LinkedIn: http://www.linkedin.com/pub/paul-vernon/6/167/bb5

Went to Arizona State, "Degree not completed." No reference of any academic CS background yet was a Senior Software Developer?

I'd hold off for a bit.

I will concede that the site's infrastructure may be subpar (I really have no knowledge of it), but your statement is highly pretentious.

Check out this guy's tweets. So many negative reviews on the internet https://twitter.com/WayTooGosu

Also, the entire site seems to be running on PHP..

Reply on news.ycombinator.com