What was the foundation doing that warranted a $150,000 a MONTH budget?? Have they accomplished anything or was it just a colossal waste of people's money?
I had a similar question in mind. |
|
|
|
Hopefully they get it sorted out, the last thing the industry needs is another large exchange collapse.
I think they'll get their technical issues solved. What I'm not so sure about is rebuilding their reputation after they solve the issues. Although it may be sufficient that they solved them and came back to offer what customers expect. If you bounce back a couple times from something like this and don't pull a GOX, then I think that counts for something. Still, improving their PR would be so simple... and yet apparently too difficult at the moment. There are many reasons why businesses failed; including some who got a taste of success and still failed, while others may not have been so fortunate. The three most important components are the guy in charge, the employees, and the customers. Everything is a reflection of the top leadership. In most cases, the top guy is the owner or one of the founders, often the one with the great idea, technology or money, or both. Since he can not do much by himself, he needs employees to grow his business and customers to support his business. Technology alone is not enough to see him through. All three are of high value and must work well for continued success. They are all inter-related and affect one another. The one in charge must build the most favorable environment for every component to work well together. My book covers these in great details. When customers, don't feel like the employees care or appreciate their business, there is little loyalty to be support the company, which it very much needs, when it encounters problems as in the case of Cryptsy. Unless you are the only game in town, the customers will start to consider other options and choices available. Once they are gone, it is a lot harder to get them to come back. There is no indication to me that Cryptsy's management recognized the magnitude of the problem, or any efforts of damage control. Unfortunately, this is one of the main causes of business failures. Being great in one or two areas is not enough to be successful because everything matters, with some to a lower degree. I'm really looking forward to reading your book, Dyna. Let me know if you'd like any editing help with it  There is one aspect in which Cryptsy is the only game in town for me, because it's the only exchange that carries a particular coin I get on a regular basis. If it weren't for that, though, I'd have completely left them by now as all the other coins I'm interested in, including DNotes, are carried on other exchanges. This basically proves your point. Since there's a reason the one coin trades only on Cryptsy, I'm clearly not going to be enough glue for them if lots of other people (who don't care about my coin) ditch them over this. But I do hope they continue to exist, because one thing in their favor is that they rarely if ever delist coins. Time will tell whether that can possibly make up for their weaknesses. |
|
|
|
Hopefully they get it sorted out, the last thing the industry needs is another large exchange collapse.
I think they'll get their technical issues solved. What I'm not so sure about is rebuilding their reputation after they solve the issues. Although it may be sufficient that they solved them and came back to offer what customers expect. If you bounce back a couple times from something like this and don't pull a GOX, then I think that counts for something. Still, improving their PR would be so simple... and yet apparently too difficult at the moment. |
|
|
|
Word of caution for anyone hoping to take advantage of arbitrage between Cryptsy and Poloniex: I've been waiting 16 hours for a BTC transfer from Cryptsy, and support is extremely slow to respond as usual.
are they having BTC problems? Apparently they being investigated by SEC. I am starting to get cautious with storing too much funds on there! That's definitely a safe bet, still no sign of the BTC yet, but support got back to me and this is what they had to say: "Most BTC LTC and BTCD withdrawals are currently extremely slow moving due to tech issues. This progressively got worse over the past week and were trying to find the reason they are not going out. Please understand that due to extremely high security this a very complex system and the problem is still being resolved. We appreciate your patience and understanding on this matter. Should you wish to cancel your pending withdraw, please let us know."  The reason for the arbitrage between Cryptsy and Poloniex is because of the issues with BTC withdrawals. People who don't want to wait for an indefinite amount of time to withdraw BTC are buying altcoins at a markup just to get their funds out. As for the reply from support, that is a copy/paste of what they've been sending out over a week ago, possibly even earlier than that. If it "progressively got worse over the past week" two weeks ago, then what is actually going on now? I got the same copy/paste earlier today, and getting the exact same message again really made me lose a TON more confidence in them. It's sad, but clearly PR and customer service are huge weaknesses for them. If the technical difficulties they are having (which I believe are genuine) don't sink the ship, the horrible PR will. |
|
|
|
staicybit had a major change of fee structures https://bitcointalk.org/index.php?topic=1091402.msg13164967#msg13164967there is no longer a free account and there are now withdraw fees and 5% of earnings are fee to use their staking service if under this conditions u want to use/keep using their services everyone have to decide on its own i am happy staking on my own and there are alternatives that seems to have lower fees example https://www.coinwallet.co which added DMD too and have 0.5% withdraw and 1% staking reward fee It's good to know about online staking wallet options. I have to keep an eye on coinwallet to see if they will add NEU (another staking coin I have that is very hard to mint solo unless you have a ton of it). With DMD, though, it is set up to where even if you have a small balance in your wallet, you can successfully stake solo, so I will continue to do so. Edit: Just saw this when I opened an account on CoinWallet: Latest Updates
Bitmark (BTM) has been removed. (2015-12-02)
Diamond (DMD) POS functionality is not compatible with our system so the POS pool for DMD is no longer active. (2015-12-06) |
|
|
|
|
Thanks for the thoughtful comments people have made about Cryptsy. I thought I'd weigh in. I've used them quite heavily, mainly because I regularly trade Devcoins and Cryptsy is the only exchange I know of that supports Devcoins, so in that sense I'm stuck.
About a week ago I had a hard time with a BTC withdrawal. It wasn't very large, and it did clear a little after 24 hours. I had put in a ticket and did get a timely response to it, though never any follow-up responses if I added to it. I've since withdrawn NeuCoins a couple times with no problems. I've heard that other coins that take a long time are LTC, DOGE, and DMD, and I think DGB, but I haven't tried any of those. An annoying thing right now is that the user Paycoin wallets have been in maintenance for at least three weeks and there doesn't seem to be much indication they will go back online anytime soon. The response to my own ticket on that issue said that this would be escalated to 2nd level support but I haven't heard anything since.
I largely agree with RJF, that the organization is really truly having technical difficulties, and that it is premature to assume that it's going to go down just like Mt. Gox did, or that the technical difficulties are only excuses for larger problems such as insolvency. I agree with Dyna that Cryptsy needs to seriously improve its customer service and public relations. It would be great, for example, if they tweeted updates about what's going on. Even when things aren't ideal, if customers know what to expect, that makes a huge difference. I mean, if Cryptsy were to say publicly that due to technical difficulties, withdrawal requests for certain coins (list them) are taking from 24 to 72 hours, then people will simply plan accordingly. It's the not knowing combined with the memory of the Mt. Gox fiasco (where "technical difficulties" were blamed to mask the insolvency issues) that is causing lots of fear and speculation (the pack mentality RJF alluded to).
|
|
|
|
|
I think giving Cryptsy a break and using BitTrex while Cryptsy works out its problems is a good idea. I do remain optimistic at this time that Cryptsy will figure it out and recover--I don't think their intention is to Gox anyone--and I especially like the idea of working it into the code to use whichever exchange has the cheapest DMD price for conversion to DMD.
|
|
|
|
The current model wouldnt be able to keep running since the more big players the big the budget would become even making a 400 dollars montly or more those wouldnt be enought to cover maybe 40 big accounts,the new model would be the way to work out and there is a lot coders that can be hired to handle this question ,im surprised all complaining about the coding when is possible to hire who works with that to do the job,freelancers would do the task and well management would be the only thing needed to keep the game alive but seems that no one wanna spend a penny and just wanna get income.The admin ,making a 400 dollars montly could easy suspend payments,and use that money to hire a coder and advance into the next version programed of the game.
Well, some of us who just enjoy playing aren't in a position to take on the hiring and management of the coders But I agree. I wish the original owner would just do that--hire out what he doesn't have time to do himself. |
|
|
|
I predict the price surges by an entire satoshi once the Devtome gets fixed  |
|
|
|
I updated my wallet last night following this message, and I have to say this was probably the easiest QT wallet update I've done in a very long time. Nice work! I just want to say I'm new to PIGGY but totally love this coin already  I downloaded the wallet and as soon as I seen that at the top of the wallet it says Your New PiggyBank I told my little girl that I got her a PiggyBank and I was going to save up money for her in it So Thanks PIGGY Team for making a really cool and fun coin like this I love it!! Looks like you're going to have to download another new wallet already, sorry! (See https://github.com/piggycoin/newpiggycoin/releases/tag/v1.2.3.0 for more info). It's a compulsory update for all users. There are some important bug fixes. The way that stakes combine has also changed to make it easier for big stakers to stake without their piggybanks freezing! https://www.piggy-coin.com/getting-started/Get your new desktop piggybank there, or just go to Help->Check for Updates, in your present desktop piggybank. It's a good idea to back up your wallet.dat file first! File->Backup Piggybank...Thanks to kasvain (of Lyrabar) and MystPhysX for compiling! That's alright I don't mind At least you guys make all this stuff nice and easy peasy |
|
|
|
I wouldn't know what to do with it... and I already have a to-do list that is way too long in my personal life. I have lots of good intentions in crypto that come to nought, at least for now. Besides, I'm not a coder and doubt I could get up to speed in any reasonable timeframe. Hopefully someone else can pick it up. It strikes me that it makes more sense for someone to take this over than create another "mining" game from scratch, given the built-in userbase and name recognition.
Bummer. I'm in the same boat. Don't know how to code  |
|
|
|
It's a good coin, and the minting works really well. I'm glad to see it's still being developed. I'd like to see some fun and educational games with PIGGY as the game currency |
|
|
|
I wish you'd buy it, ebeliever Mybitmine turned into scam?
No. But the original admin is trying to sell it off, and that has been a slow process. |
|
|
|
Price drop down:(
Eventually when we have a profitable company, where DNotes will own up to 25%, and a professionally managed fund to support the market, this will be less of an issue. As of right now, we are subject to the demand of the open market. Something I've seen some other coins do is have a strategy to put consistent buying pressure on the market. Diamond is a great example. DNotes should look at that. One idea that comes to mind is that when the company launches, any kind of share dividends are paid out in DNotes. This means that whatever currency the profits are made in, be it USD or Bitcoin, those funds will be used to buy DNotes on a regular basis and then distribute them. Since the shareholders likely believe in DNotes, they might sell some back from time to time but probably won't just dump them all as soon as they get them. That will have a stabilizing effect on the market price. The other strategy I've seen which DNotes already does very well (DNotes vault) is to take as many coins as possible off the market. Giving people incentive to lock up their coins in long term interest bearing accounts has that effect. |
|
|
|
|
I was able to withdraw around 0.04 BTC from Cryptsy. It took more than 24 hours and I bugged them a lot via their support system. I'm going to give them at least another week before I try it again, though.
|
|
|
|
Nope, never got my BTC out. I had to cancel, buy Doge and take Doge out. Yes, they told me they re working on it. After second ticket they were still working on it and after the third one. Let us know how it ll go for you but I think you ll have to do the same.
The transaction finally cleared Cryptsy, probably an hour or two ago. Not sure if they solved the overall problem or if someone decided to do the transaction manually for me (so I wouldn't keep bugging them). I'll give them a week before I try another BTC withdrawal. |
|
|
|
I have gotten response to my tickets, and they say they're working on it. I'll wait this one out. You said that eventually you got your withdrawal processed? I've noticed that the other coins (including DMD) that I've moved out of Cryptsy don't have this problem. I'd happily move all my trading to either Polo or BitTrex, but those exchanges don't list all the coins I trade in. One thing good about Cryptsy is that it never delists coins (to my knowledge). Next time, though, I will consider trading my Cryptsy BTC into something else just so I can move them out. If I'm patient the arbitrage may not be too bad. They charge an arm and a leg for BTC withdrawals anyway.
i did hear some guys buy doge or ltc and move them to other exchanges for converting to BTC again
but yes i agree its a shame cryptsy dont get his constant issues solved
I've considered that option but I would lose on the arbitrage. Doge is more expensive on Cryptsy than anywhere else right now. And anyway, there is no option to cancel my pending withdrawal. Unfortunately, I think this is your only option. I waited for 5 days for my last withdrawal, opened 3 tickets and nothing. I suggest to move trades to Bittrex until Crypsy resolves this issue cause I know it s not BTC wallet technical issue as they state in their support replies. It s been like this since they introduced these tier based system. If you want to cancel your BTC withdrawal, open a ticket and tell them what you need. They ll do it for you. |
|
|
|
i did hear some guys buy doge or ltc and move them to other exchanges for converting to BTC again
but yes i agree its a shame cryptsy dont get his constant issues solved
I've considered that option but I would lose on the arbitrage. Doge is more expensive on Cryptsy than anywhere else right now. And anyway, there is no option to cancel my pending withdrawal. |
|
|
|
|
Show Posts
