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Bernhard

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Location: Morocco

I got email melotic close his exchange, is it true?

Posted on May 4, 2015 at 11:08 AM

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• irnhnve

  

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  @bernhard I got email melotic close his exchange, is it true?

  I got it too. I haven't used them since they required KYC data to be collected, but when I did prior to that it always worked great.

  We'll see alot more of these exchanges/startups shut down as those with more funding and resources take over specific services. You realistically can't have 100s of exchanges, like there is currently, and expect them all to do well.

  I think that this is especially true for exchanges since the one's with the most liquidity will thrive for having the smallest bid/ask spread so you get the most bang for your buck on each trade (not taking any fees into account)

  Posted on May 4, 2015 at 11:24 AM
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• Bernhard

  

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  please list the best exchange to trade LTBC

  Posted on May 4, 2015 at 12:00 PM
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• markxmayer

  

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  https://www.poloniex.com/exchange#btc_ltbc

  Posted on May 4, 2015 at 5:48 PM
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• Cryptonaut

  

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  Location: Canada

  @irnhnve

  @bernhard I got email melotic close his exchange, is it true?

  I got it too. I haven't used them since they required KYC data to be collected, but when I did prior to that it always worked great.

  We'll see alot more of these exchanges/startups shut down as those with more funding and resources take over specific services. You realistically can't have 100s of exchanges, like there is currently, and expect them all to do well.

  I think that this is especially true for exchanges since the one's with the most liquidity will thrive for having the smallest bid/ask spread so you get the most bang for your buck on each trade (not taking any fees into account)

  That's exactly it, the KYC stuff completely killed them. As soon as it was implemented the volume dropped to almost nothing. Also we shouldn't be expected to have to provide ID and proof of address etc. to 15 different exchanges which could go out of business at any moment. Especially when its just crypto to crypto, not even any fiat.

  Posted on May 5, 2015 at 12:45 AM
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• Bernhard

  

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  I just loged into melotic. LTBC seems not even more in the list. I am happy to sold all month ago. withdraw of btc and doge was no problems

  Posted on May 5, 2015 at 8:13 AM
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• adam

  

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  Location: California, USA

  Yep, Melotic shut down. I was never able to use the platform since they required 2-factor auth with a phone and I don't use cell phones. Goes to show, it's hard running a centralized exchange in a niche of a niche market although it's too bad they couldnt hold out until the tokenly products start rolling out providing utility for those tokens.

  Posted on May 5, 2015 at 6:07 PM
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• sicocos

  

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  a lot of exchange that has been closed now, I use poloniex

  Posted on May 6, 2015 at 2:40 AM
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• Bernhard

  

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  @adam Yep, Melotic shut down. I was never able to use the platform since they required 2-factor auth with a phone and I don't use cell phones. Goes to show, it's hard running a centralized exchange in a niche of a niche market although it's too bad they couldnt hold out until the tokenly products start rolling out providing utility for those tokens.

  this may help you the next time you need it. I use WinAuth for 2-factor auth

  https://winauth.com/downloads/3.x/WinAuth-3.1.8.zip

  just synchronize the computer time before using it!

  Posted on May 8, 2015 at 6:50 AM
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• Bernhard

  

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  @sicocos a lot of exchange that has been closed now, I use poloniex

  is it really secure?

  https://bitcointalk.org/index.php?topic=499580

  it say it was hackted too and BTC stolen

  Posted on May 8, 2015 at 6:53 AM
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