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I haven't looked at it in any detail, but my impression was that shapeshift was fairly, uh, on the up and up? Iirc, the idea is you say you want x amount of cr
by drdeca 9y ago
I haven't looked at it in any detail, but my impression was that shapeshift was fairly, uh, on the up and up?
Iirc, the idea is you say you want x amount of cryptocurrency M sent to address A1, and you want to pay in cryptocurrency N, and it gives you an address B2 and a quantity y, and you send it, then they send it. With this set-up, I don't see much of a way for them to behave dishonestly that wouldn't be immediately discovered, as either you get the currency or you don't, and if they don't, then you can quickly tell.
(I mean, the exchange rate they give might not be the best available, but it is the consumer's choice whether or not to accept the exchange rate for the convenience.)
Also, it is possible that I am substantially mis-remembering how it works, as I've never used it (I don't in fact own any of any cryptocurrencies, and never have except for testnet ether)
Also, I don't know if shapeshift is still around or not.
- Nursie 9y agoStill around, still works that way. I mine eth and/or zcash in small quantities. If I want to buy a small quantity of something else I use shapeshift. This way I hold no accounts anywhere. 'course I have no way to cash out, but then my holdings total less than 1 ETH so it's no big thing...