Looks like today will be an interesting day for rumours regarding our beloved digital currency and altcoins. While the debate about the legitimacy of the BlockNet project will continue for the next few days, there is now also a crusade going on against the Bittrex exchange.
Do keep in mind that none of the following information can be verified at this point. The point of this article is to prove why there COULD be a point of concern when dealing with the Bittrex exchange.
According to user Bottrex, the Bittrex exchange has been under investigation for quite some time now because of their ‘grey area activities’. I always find it amusing when these allegations are made by a newbie account registered in the last 24 hours, but let’s carry on.
These ‘grey area activities’ refer to the fact BitTrex has been listing a lot of coins recently which are all surrounded by a certain level of controversy. More importantly, according to Bottrex, all of these coins can be associated with a group of pumpers and dumpers.
While none of that should come as a shock to anyone, I’m sure it will still catch people unaware of what is actually going on behind the scenes of the altcoin scene. There are different coins being created by the same developers, and if they get added on any exchange, whether it is Bittrex or not, a pump and dump will follow sooner rather than later.
Bottrex continues by claiming BIttrex has been associated with a group of media outlets (not us, honestly, I don’t even talk to Bittrex folks) m in order to perpetuate the vast numbers of scams which have been plaguing the altcoin markets over the past few months.
Altcoin scams have been wreaking havoc on digital currency ever since more than 10 altcoins were in existence. While it might seem there are more scams lately, here are also a lot more altcoins, so you do have to put this in perspective at some level.
Playing the devil’s advocate here, there are plenty of decent coins listed on Bittrex as well. Even though an altcoin’s code may be solid as can be, you can never anticipate how the human element behind that altcoin will play out in the end.
Would it shock any of us if some coins have an “advantage” over others when it comes to getting added on an exchange such as Bittrex? Absolutely not, but whether or not that means something nefarious is going on…… I can’t tell you what to think, but do some research yourself, and see what you can come up with!