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Would people really be stupid enough to buy these phantom btc and/or leave any other coins on the exchange if it opened again?
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What would anyone gain by buying cryptsy?
Why would customers trade on the site if it was "given" to them?
This isn't going to be turnkey software that you can just turn on and start running again. If we are to believe cryptsy's stories you have a bunch of debt, a bunch of broken wallets, and a bunch of pissed off customers you owe money to.
What positive would you gain from owning and/or running cryptsy? What do they have of value? How much work would you have to do to figure out how much money you owe who and if any other wallets are "compromised."
I see zero benefit to taking over cryptsy, so zero benefit to bail you guys out.
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Well fuck.... I don't even know what to say...
I found out about the blog post when a customer called me and told me it was up. I found that irritating to say the least....
Again, I never worked with any wallets, had access to any wallets or any code. I ran investigations and customer end security ( like 2fa and getting back into hacked accounts)
This is a really shitty situation. I understand people are upset and have every right to be. I admit, I drank the koolaid and when people told me things were alright, I believed them whole heartedly. I don't know code or hardware at all, so when I was told it was a technical issue, I had faith.
Now I just look like an asshole for believing it, and for that I do apologize. Since I heard about this, Ive been sifting through dozens of emails from people with "tips" and it is exhausting to say the least. Although I am no longer paid by Cryptsy, I feel an obligation to try me best to help locate coins, whoever may have them.
In the mean time I don't mind trying to answer any questions I can and I know trolls are gonna troll hard at the moment. I'd be trolling too so I can't blame them.
I've always tried to help people since starting at Cryptsy and I find it a real shame it's come to an end like this.
What exactly were you in charge of "investigating" if you didn't have access to financials and couldn't see the coins that disappeared from the "cold" wallet? |
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Wait, a secret pr0nz website? Why the secrecy? Loli?
because if we saw all the super secret stuff going on there we would have copied it and stolen all of his monies. |
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Welp.
Hopefully cryptsy shut down before too many people blew all their coins in this can't miss venture.
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It's very simple. People give them coins, they slowly give them back over time until they run/feel like they have enough and run off.
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Does anyone know the deal with cryptostocks which also was listing the cryptsy royalty shares; it appears to be dead and gone with customer funds. This site is linked to the vircurex exchange which is still up, would cryptostocks failing have any negative effect on cryptsy business or funds availability? I presume cryptostocks did not hold any money for cryptsy so its not a knock on loss scenario.
I have withdrawn most funds from cryptsy just by using alt coins, there were people in chat advising which but also you pay a bad price and you are losing something by withdrawing this way. Of course the best advice is do not store large funds with exchanges which do not separate out customer funds and my own advice is generally dont carry all eggs in one basket
Sorry to quote an old post, and now it's too late, but I'll respond anyway in case some withdrawals open up again, and when/if you find yourself in this situation again. One DOGE that you can withdraw is worth a lot more than 1 BTC that you can't. "Paying a bad price" to withdraw via alts is better than a total loss via doing nothing. Once you are in the shitty situation of getting stuck with coins in an insolvent exchange, there's no way to get out "whole" so you need to find a course of action to get out with the most that you can. |
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I'm not recommending anything. I'm just saying its paid out for over 2 years. I did a little homework before accepting the job period. I manage his campaign and that's it. Of you look at all my posts here you'll see I'm only defending the part I have to deal with which is SIG campaign. I also don't feel like you can label the site as a scam ponzi since it has been around for 2years plus. True ponzis collapse well before then but its whatever here. You guys wanna play internet police n ruin the acct value then do what you must. I think the trust system is a joke half the time cause half have no clue and the other half trying to get noticed.
Mining scams can last a lot longer than regular ponzis because they can pay you out with your own coins and those that you "reinvest" to keep the thing running until they feel like running. |
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Does anyone still have an account over there? Wonder if the inside looks any different where it claims how much you have.
It's nice that the chart/claims make a little bit of sense, but that chart means nothing if he is going to pay out 1 btc to someone who deposited 1 btc even though all the coins are in the crapper, which I believe he did in the past.
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So your plan is to buy various altcoins, put them on cryptsy, exchange them for the coins no one is able to withdraw, and eventually withdraw them at a profit?
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Only paycoiners would come up with a plan to acknowledge the problems with cryptsy and try to arbitrage into them and get out actual useful coins.
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I cant withdraw any btc, ive been removed as a mod, anytime i try to withdraw btc they just cancel my wd's.
I'm convinced they are locked out of their cold wallet in some way or another.
Why is that more likely than they are just robbing you? If they had a technical problem wouldn't they mention it hopes of finding some help? |
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Martingale can work, it really depends on luck and your bankroll. While what you say is true, the 8 loosing streak can come very fast but to make profit you need to survive longer than 8 losses. I believe there was a player on BitDice some time ago who played martingale on something like 48.5% or something like that. He played for months and won over 100 BTC in the end, i think close to 200. "martingale can work" but it's incredibly stupid. Here's a fun math problem to figure out why it's dumb. Calculate the odds of winning, x in a row. Calculate the odds of losing x in a row. They are exactly the same if you are flipping a coin. Now calculate how much you win if you win x in a row, and compare that to how much you lose when you lose x in a row (which has the same odds on flipping a coin, and will actually be easier to do on a dice site with 2x payouts). See how incredibly different those numbers are? Why would anyone think that's a good idea? |
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"arbitrage techniques, large-scale automated trading to hedge against losses, among others"
This shit doesn't scale forever. Being able to buy 1 coin for 448 on 1 site and sell it for 452 on another, doesn't mean you will necessarily be able to do it with 2, never mind 100 coins.
If they could generate more than 5% a month they wouldn't need your money to do this forever because they would just be able to make themselves rich with their own money..
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I'm not saying there isn't a shady casino somewhere that would edit the video somehow to change the results of certain spins to avoid having to make big payouts or to guarantee big wins, but I doubt a casino would use some sort of rigged wheel.
They make enough money just from the EV of a regular wheel that it wouldn't be worth the risk of playing against someone who can figure out that the wheel is rigged and used that information for themselves.
If they are going to cheat, they are going to do it in a way where they can't get fucked, not in a way that leaves themselves open.
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Glad you got your money back. Anyone up for doing some blockchain homework to see if those coins were the same one's you guys gave him, proving this whole "hack" is a lie? Or are they separate coins? It doesn't really matter whether he was hacked or not, it was his job to not get hacked, but showing that the hack story is a lie may give other people more incentive to stop sitting around and start demanding their coins back. |
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The problem with all of this leroy is that's it's trivially simple to do this thing right, and we have been telling how/asking you to do it the entire time.
You should only be dealing with alt-coins. Accepting and paying out BTC at all can set everyone up for failure because then they have to rely on somebody to make the correct decision on what coins to buy, when to buy them, when to sell them, and how to do the accounting. I know it makes you feel better to say 128 btc than 700 million zebracoins or whatever, but the step of switching from BTC to alt is a major point of failure.
I'm going to use made up numbers and an imaginary to prove my point, so don't' harp on the actual math, just the point of the example. If someone gave you 10k of zebracoin worth 1 btc, and you turned it into 11k zebracoin worth .8 btc, that's their fault for thinking zebracoin was a good investment. But if they gave you 1 btc, and YOU turned it into 10k zebracoin, and then you turned it into 11k zebracoin worth .8 btc, YOU cost them .2 BTC because they would have had .2 more btc by literally doing nothing.
If staking is the future and you are the superstaking master get rid of all the BTC and just start staking, because moving from BTC to various alt coins adds an additional point of failure, and one that is very likely to happen because the price of altcoins almost always goes down.
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Was it a trick question or did you really not know the answer?
He was tricking suchmoon to make the "gotcha" statement that the value of stakeminers' holdings is at the mercy of the market prices for coins, as if that was some earth shattering revelation. I edited my post as you were replying to it. I see the 'gotcha' now. His argument seems to be that since prices change we shouldn't use prices to determine the value of things and instead can arbitrarily claim that our holdings are worth whatever we want them to be worth. It's worrying that someone responsible for other people's money can think like that. [/quote] It's a little worrying, but this outcome was so obvious that I don't really feel too bad. I also wonder how many people are actually there and how much he is actually responsible for. I don't check the websites where he did his advertising often, but when I have looked through those threads I didn't see as many people defending him as you find in other scam operations like cloud mining, so I'm not sure how many real customers there are. If he really took in 128 btc and only had 40 btc worth of coins left wouldn't there be some people complaining like when various mining companies failed, when pirate stopped paying, when all the other scams eventually started to unravel? |
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