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Author Topic: Altcoin withdrawal from Cryptsy  (Read 554 times)
kcanup (OP)
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January 15, 2016, 01:40:43 PM
 #1

Ok guys, im putting this post here to find out if anyone of you were able to withdraw any altcoin from Cryptsy in recent days or even today after the hack news? I need to find out a quick method if i can withdraw my btc>alt if any altcoin withdraw is coming on. I only knew of HAM (HAMRADIO) which i withdrew few days ago but want to know status of other altcoins. Thanks in advance!  Smiley
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January 15, 2016, 02:12:11 PM
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1ex.trade is adding more and more alts in the coming days/weeks, move them there, I did!  Grin Cool

Well, there and Polo/trex lol.
kcanup (OP)
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January 15, 2016, 03:18:13 PM
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1ex.trade is adding more and more alts in the coming days/weeks, move them there, I did!  Grin Cool

Well, there and Polo/trex lol.
Cryptsy is fucked up already, how to move coins? Thats what im trying to do tho  Wink
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January 15, 2016, 03:26:01 PM
Last edit: January 15, 2016, 03:40:48 PM by markm
 #4

Alt withdraws worked fine until they ceased trading and withdraws.

Unfortunately the way U.S. bankruptcy works apparently is not likely to make a distinction as to whether each user chose to be in possession of fractional-reserve coins or of full-reserve coins, instead of checking which exact type of coin you had and giving you your share of that specific coin they are more likely to pretend there are dollar values for them all and thus spread the losses of the people who chose to be owning fractional-reserve coins across everyone, and in addition probably destroy the values of coins by throwing them on the open market at auction or some such thing, at least for coins with no other exchanges, so people holding lots of a coin they consider valuable and paid a lot for will likely not be given back those specific coins they paid high prices for and consider valuable. More likely those special coins you paid high prices for because to you they are valuable will be thrown away for almost nothing in some stupid auction or on some exchange you are not even a member of and you'll be lucky to even get a share of the pathetic dollar prices they will get for them.

So basically the most likely bankruptcy proceeding will be the "trustees" stealing your valuables and forcing you to accept a lower price for them than you would in reality ever have parted with them for.

Take for example IXCoin, people (well me anyway) paid up to about 14,200 satoshis per coin for those and would not part with them for less.

Yet most likely the thieves calling themselves "trustees" will sell my IXCoins for less than that instead of giving them to me to part with only at the price I actually demand for them...

Basically the whole "trustee" concept seems like a massive scam in and of itself, but it seems unlikely we can sue the trustees for not giving us the prices we were actually asking for our goods, or giving us the good to hold for ourselves until we can in fact get the prices we are willing to sell them for.

It is because of precisely that kind of scam that I have tried to establish for my Open Transactions server, if I ever get it running again, that each coin is distinct, that theft of one kind of coin can and will only put that specific coin into a fractional reserve situation, that all other coins are to be totally unaffected, so if e.g. bitcoins are stolen then only holders of digiBTC are affected, all other coins remain at full reserve and so on.

( See https://bitcointalk.org/index.php?topic=53329.0 )

But the thieving scam crap legal system maybe would not even honour such "contracts" or "statements of intent" and still cause loss of one coin to screw up holders of all coins, I would not be surprised.

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January 15, 2016, 04:58:56 PM
 #5

Ok guys, im putting this post here to find out if anyone of you were able to withdraw any altcoin from Cryptsy in recent days or even today after the hack news? I need to find out a quick method if i can withdraw my btc>alt if any altcoin withdraw is coming on. I only knew of HAM (HAMRADIO) which i withdrew few days ago but want to know status of other altcoins. Thanks in advance!  Smiley

I was able to withdraw BITB about 5 days ago but it was only a small amount as I was trying to understand if I could withdraw. I still have withdraws pending and a deposit made more than a month ago that never went through. So Let's face it mate, our coins are lost. You will only see your coins if they decide to pay their customers, which I seriously doubt that.

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