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Cryptsy and the Lag of Doom

Cryptsy is one of the exchanges I use for trading in crypto currencies and following the markets. It is one that picks up the most new coins and has the most pairs available, making it an awesome asset. Mix this with the fact that you can set up auto selling so that you do not even need to worry about setting up your own sell orders, and it seems golden. Where things start to get bad, though, is when it comes to what I call the “lag of doom.”

There are a lot of people that dislike Cryptsy for different reasons. Some do not like it because they are jealous that it is successful. Others dislike it because they do not like the owner. In any case, different people have their own reasons. I love the exchange and think it has a lot of promise. But what it needs to do in order to be a viable competitor in the long run is to become more stable. When I talk about lag, there are essentially two types and both of these affect how good the exchange is for trading.

Lagged Deposits

The first type of lag deals with deposits. It is actually not out of the ordinary to make a deposit to your Cryptsy account and not see it appear for a few days. While this is often not what happens, it does happen enough to make it a problem.

Imagine that you are watching for opportunities to trade off some of your coins at a profit. You are out watching the different exchanges, and all of a sudden you see that Cryptsy is having a rally that, for some reason or another, the other exchanges are not. You load up your wallet and move as fast as possible to transfer your coins over so that you can trade them. Only to find that by the time your deposits actually make it through, the rally is over and you are back at square one.

This situation leads to having to either keep coins camped on Cryptsy or often get annoyed by missing out on opportunities by not being able to get coins there fast enough. Neither of these are preferable when it comes to the crypto world, and both of them lead to aggravation.

Lagged Orders

The other problem is with the entire website as a whole. I can not count the number of times I have logged in, only to have to wait 20 minutes or longer just to see my balances or the order books. Sometimes things will partially load, other times they will not load at all. Or, like an hour ago, sometimes you get logged out every single time you switch a page.

When you are trying to trade off coins, having them on the site is not always enough. Sometimes, despite having them on the site and in the wallet, you still can not do anything with them due to the lag. This has led to people being on the wrong side of a rally more times than I can count, and it is annoying to know that you finally have an opportunity and can not take advantage of it solely because you can not set up your sell or buy order. This really hurts things when it comes to trading.

As an example of right now, I once again can not even see my balances. Nor can I see any incoming transfers or anything else. Leaving the site up for 5 to 10 minutes sometimes resolves that temporarily, but it always leads right back to where it started. Basically you have to hope for the best, jump through the window of opportunity, and take when you can get. Or just skip it altogether and not get anywhere at all!

More Coins Or More Stability?

A big issue with the way that Cryptsy runs is probably in relation to the fact that it does host as many coins as it does. As of today, there are 161 active markets (which does not mean 161 coins, as there are some mixtures of them as well). This takes up a lot of server power, and means that people are coming from all over the world to add their coins to the site's wallets, do trades, withdraw coins, etc. All of this starts to add up when the server is running calculations and trying to keep up with everything that is going on. This is why most sites only choose a small group of coins and then only exchange those. As they decide to move on to newer and more profitable coins, they then remove the less valuable ones from their exchange so that they can essentially do a swap. This helps keep the server running at its peak performance, while still allowing some differences in what people can trade on their site.

Cryptsy takes a different approach, bogging down their server with one new coin after another. While this means that they have more coins hosted than any other exchange that is out there, it also means that we start facing the problems that we currently do. So really we have two choices: either have more options in what we can trade, or have a faster and more reliable site. There are people that are on both sides of this fence; some want to be able to trade their lesser known coins, and others would rather have quicker transactions and less problems with messed up orders or missing deposits and withdrawals. For me, it is also a hard decision to make. Any problems that I have had ended up being resolved automatically after a couple of days. For me this is not a very big problem. For others that are doing day trading, though, it can mean a lot of missed revenue that they could have gotten if the withdrawals and deposits went through as they should have. At the end of the day, though, the site can not cater to absolutely everyone. They have to choose their own way of doing things and let those that agree continue to use them while those that do not go ahead and move elsewhere.

Conclusion

Cryptsy is an awesome exchange and they allow a lot of coins to get their chance at the spotlight. The problem is that they are so lagged behind overall that it makes trading impossible sometimes. When you find a great deal going on or you really need to do a movement, it sucks to have to sit there watching the opportunity float by while you have to sit back patiently waiting. No other exchanges offer up what Cryptsy does, but for some reason the people running it do not care enough about the site to push it to the next level. It could be a wonderful thing if they just cared more!

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