[POLL] What happens when Cryptsy opens the USD markets?

[Scooby903]

I expect major issues like a few weeks ago. People will be please when its actual money disappearing.

Same here...I can only hope they have the hardware to support the insane traffic

[Scooby903]

Of course we'd all love to see the prices increase across the board, but what is your opinion on this?  I believe only coins with a strong community and that are innovative will truly succeed once this happens.  I expect to see rises across the board, but only a relative handful of coins making significant jumps.  I'm no economist though, so I thought I'd see how the community felt...

Cryptsy is not going to open any USD market.

I also have reservations about it even happening, but they seem to be working towards it...only time will tell.  I guess this was more of a hypothetical question 

[Scooby903]

Just a little ol' bump 

[tk808]

Most of you are forgetting 1 major aspect, people have to already own BTC or another alt-coin before entering cryptsy trades.

USD trades will remove that extra step and let the buyers buy alt currencies immediately.

So , wouldn't btc be the biggest loser on this?
Because there will be less demand for btc when customers can buy their coins directly with usd.

Supposedly, it would see modest gains. Bitcoins will still be highly desirable.

Unless cryptsy opens a btc/usd trade. Things will get complex real fast, not to mention security and lag.

[o24]

I doubt there would be a USD exchange for all the alts on cryptsy probably only the ones with really high volume.

[Scooby903]

I doubt there would be a USD exchange for all the alts on cryptsy probably only the ones with really high volume.

I'm thinking if they bring them online, they will likely start out with the more popular coins, I agree.  But it would be interesting to see how a USD/NET market would react when opened...I bet the volume increase would be quite substantial

[noelmal]

USD trades will remove that extra step and let the buyers buy alt currencies immediately.

USD will remove the extra step in regulators closing the place down

[BitcoinEXpress]

I expect major issues like a few weeks ago. People will be please when its actual money disappearing.

Same here...I can only hope they have the hardware to support the insane traffic

[Scooby903]

I expect major issues like a few weeks ago. People will be please when its actual money disappearing.

Same here...I can only hope they have the hardware to support the insane traffic

 

[mathew564]

All Alt-Coins jump up in value tremendously.

[Mr.V]

not much change... most coins there are crap, a few good ones might rise

[BTCvFiat]

Market crashes due to mass cashouts <-- I vote this, the amount of personal ID information required on any exchange involved with the 'mighty' dollar would disenfranchise any interest people have (left imo) in Cryptsy.

[Scooby903]

Market crashes due to mass cashouts <-- I vote this, the amount of personal ID information required on any exchange involved with the 'mighty' dollar would disenfranchise any interest people have (left imo) in Cryptsy.

I am curious to see how they would implement the USD market...certainly wouldn't be a simple switch to be thrown.  Like you said, the regulations in place on USD exchanges could stifle growth, but I believe that would only be a temporary setback and they would recover from it fairly quickly.  As BTC's popularity/acceptance becomes more mainstream throughout the next year, the masses will start to adopt alts since they won't want to buy in to BTC directly due to the price.  If Cryptsy has their act together and gets everything in place properly, it will make for a very interesting year 

[burnum]

Market crashes due to mass cashouts <-- I vote this, the amount of personal ID information required on any exchange involved with the 'mighty' dollar would disenfranchise any interest people have (left imo) in Cryptsy.

Why would there be a mass cash out? The largest holders of coin's already have an avenue for exchanging to fiat.
I am sure that the policy will end up similar to coinbase or other exchanges, so anybody that wants to cash out can do it now through those channels, I could be wrong no doubt, if they make it easy with no account verification then I would expect a cashout and crash, but they are registered with FinCEN and so have to abide by certain rules.
I have hopes for a small jump in the most popular coins 

[Amph]

what will happen? isn't it obvious?

more people will be scammed

[Scooby903]

what will happen? isn't it obvious?

more people will be scammed

I do feel bad for people that are/were having issues, but I've had no issues with Cryptsy since using them from day one 

[Amph]

no i don't mean that, i mean more people wil be worthless shit btc clone

[r00tdude]

There should be an option for 'Watch the FinCEN agents knock on the door in simulcast'...

[placebo]

A lot of people will start buying ,and coins will fly to the moon. If cryptsy do the right promotions then all coins go move 1000% higher.

[Stick56]

I'd try to get more flat of mine in the exchange. Hard as hell to move USD from the US.

It's very simple, actually. Takes about 5 clicks to get USD into BTC

What are the steps/clicks?  Not trying to be funny but everywhere I look it's like pulling teeth.