If I ran an exchange, and had $12.7 million stolen from my investors...
I would report it to the police/FBI immediately... right?
They might have found the culprit 18 months ago, and returned the funds?
Perhaps it was an inside job...
Or just another episode of amateur hour? Who doesn't report a $12.7M theft to the police? Anyone besides a criminal? come on think about it, its not just as simple as dialing 11, you know there's a big 9 in there too..  ..geees, i mean its so much easier to simply manipulate and fractionally reserve accounts for a year and a half, and then hey just file bankruptcy  |
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Since trading fees went to 0 there never came another payout from Paul's shares either.
I didn't use cryptsy, but what sense does it make to drop trading fees to 0% when you're trying to make good on insolvency? I would have thought that collecting trading fees would be your best hope of making up the shortfall. 0% trading fee, people deposit more coins to trade for free, charge instead % for withdrawal so people leave their coins on your platform.....sounds like the perfect plan if you're coming undone with not having the coins on your books. |
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When fractional reserving's not working for you; crypto exchange 101; pull out the ol our coins got stolen one |
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while i somewhat agree with you on bitcoin i.e. my personal opinion is bitcoin is a distraction on the development of a true p2p currency. reading you and fellow clowns over engineered ideas, i kinda always chuckle at you and your fellow clowns heightened sense of importance. |
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nothing.
as like many i saw it coming (as well documented on this forum).
even at the best of times i'm not a fan of leaving coins i'm not trading on an exchange (or leaving coins on any online source).
frustrating watching many small guys suffer, i hope though people learn from this, its not the first and won't be the last.
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I lost 200k DGC only because they wouldn't let me back into my account...
You coin dev you ! hahahah So what happened account inactivity ? "Inactivity" AKA We lost everyone's money so we are appropriating your funds to try and survive. surprised you didn't see this coming, doesn't a fisherman always spot another fisherman from afar  (i'm guessin u don't believe big v's my wallet got hacked story, just on the quiet), |
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popcorn sales spiked at the very least  |
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one lesson everyone should learn from this is never leave more then you are directly currently trading on any exchange.
i also make sure i never leave more then 10% of my crypto holdings on all online places combined.
learn cold storage and how to secure your own coins.
alot of alts coins had a significant percentage of their totals in cryptsy wallets, now this hangs over all their heads (as they could be dumped at any time and at any price), so not only those directly using cryptsy will be the losers.
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Sorry if the latest blog release shows all previous excuses to be basically a lie; then why the hell do so many just instantly believe the latest excuse |
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If an alt-coin tries to do this then such a coin should be avoided.
If an alt-coin CAN POSSIBILY do this then such a coin should be avoided. 100% fungibility for the win. roll back of bitcoin back it 2010 people should avoid bitcoin  difference circumstances yes but hey. also one could make the swap to an entirely new coin but use the old coin as a redeeming token. |
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If an alt-coin tries to do this then such a coin should be avoided.
its been done before, i can understand your point completely. and it the past i myself have argued against this. would i do it in this case, hell yeah |
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Many of the cold wallets at Cryptsy have known public addresses. Will developers do something? Comments and suggestions are welcome!  actually a fork and coin swap avoiding giving the holder of cryptsy wallet (and giving it to the rightful holders who prove they sent it to cryptsy), is a viable option for small alt coins. |
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^ +21 mil what iCEBREAKER said  |
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Oh, and don't count Mike out yet. He is in my guess a huge threat to Bitcoin. I predict that when chaos around the Classic Fork is going strong - the R3CEV/Hyperledger/Bank team will strike with a Fiat Coin announcement.
oh but that is counting him out |
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Lets invite him to join XEM development!  yes that centralised, in bed with the banksters, backstabbing type scum would fit in well here |
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It's amazing... You have this guy who throws out good points and gives proof that what he's saying is true, that it's not just some random temper tantrum, and you guys still are name calling him and not showing him respect.
respect Hearn you know its a dog act to backstab a community when you don't get your own way; "But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins." in a normal world this would crash the price of bitcoin, but fortunately, the lack of that, shows how irrelevant Hearn really is  |
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i do have my coins split across multiple devices (warm storage i do with most crypto holdings), one of my largish wallets never appears in any top list on the explorers (a wallet i've had for awhile and sent coins to and from exchanges including very recently) |
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I would suggest you to hold on your bitcoins until halving, you can do trading if you don't want to hold. buy low sell high. however if everyone decides to wait for halving........,well do the math |
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