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Author Topic: The (Only) Crypto Rush Solution  (Read 996 times)
dogechode (OP)
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April 02, 2014, 05:41:08 PM
 #1

I don't understand why there is all this back and forth discussion about Crypto Rush and especially these bizarre IRC conversations that keep showing up on PasteBin. It seems like they just keep trying to change ownership and suggesting far-flung ideas that aren't going to resolve the issues at all.

Let's be clear: There is only one way to fix Crypto Rush, and it needs to be done immediately if there is to be any hope of salvaging this exchange.

YOU NEED TO FIND AN INVESTOR TO BUY A LARGE PORTION OF OWNERSHIP IN CRYPTORUSH IN EXCHANGE FOR DEPOSITING ENOUGH BTC, LTC, AND ALL OTHER CURRENTLY "MISSING" COINS TO BRING THE BALANCES BACK TO WHERE THEY SHOULD BE. PERIOD.

I don't know why this is so complicated. It's really simple. All this talk of ridiculous ideas to get users to deposit more coins onto the exchange "in good faith" with the expectation that they will be rewarded is ABSURD.

You have zero credibility right now. None. No where near enough people are going to trust you with a deposit until after the current deficity issue is resolved fully. You got caught lying and misusing users' funds to try to cover your mistakes. Admitting to making those mistakes is not enough. The only way to fix this is to replace those funds, right away. Not 3 weeks or 3 months from now, but now.

Please stop screwing around and not taking this seriously enough. Please stop chatting on IRC and playing Diablo III and fix the royal clusterfuck you created.

Thank you.
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April 02, 2014, 07:36:40 PM
 #2

YOU NEED TO FIND AN INVESTOR TO BUY A LARGE PORTION OF OWNERSHIP IN CRYPTORUSH IN EXCHANGE FOR DEPOSITING ENOUGH BTC, LTC, AND ALL OTHER CURRENTLY "MISSING" COINS TO BRING THE BALANCES BACK TO WHERE THEY SHOULD BE. PERIOD.

Given the fustercluck CryptoRush has turned into, and given that its number add up to "insolvent," the only investor they'd get would be a philanthropist. You're really asking for a bail-out.

SOP in distressed investing is to buy in at a huge discount. An investment in CryptoRush would be like buying the bonds (or worse, shares) of a company that's insolvent. That's not done without a lot of due diligence, and the buy-ins are frequently at ten cents on the dollar or less. Sorry, but that's the world of distressed investing as it is.

At least a hopeful punter wouldn't have to plow through the complexities of Chapter 11 bankruptcy law   Wink






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praxiscat
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April 02, 2014, 08:03:49 PM
 #3

Is Cryptorush even worth saving. It was kind of sketchy and buggy from the start.

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April 03, 2014, 05:41:57 PM
 #4

What exactly would be the potential investor getting for the ~500k USD? Some crappy code that was allegedly hacked? The "brand" has been damaged, there's no personnel to speak of, and user base is dwindling. I'm not sure it is the "simple" solution, as it might be tough to find someone stupid enough to put half a million into something so pathetic.

What they should have done is to end this ridiculous trading with empty wallets, just clean it out and start over with a fully funded reserve. Then work out what to do with the losses - find a sugar daddy, fleece shitcoin developers, raise fees, whatever makes sense. Declaring on the front page that "all deposits and trades are to be considered at your own risk" is just asinine.

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April 03, 2014, 06:09:20 PM
 #5

I wouldn't go anywhere near Cryptorush now or in the future.
That guy Fyrstikken makes RealSolid look honest.

dogechode (OP)
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April 03, 2014, 08:15:30 PM
 #6

What exactly would be the potential investor getting for the ~500k USD? Some crappy code that was allegedly hacked? The "brand" has been damaged, there's no personnel to speak of, and user base is dwindling. I'm not sure it is the "simple" solution, as it might be tough to find someone stupid enough to put half a million into something so pathetic.

What they should have done is to end this ridiculous trading with empty wallets, just clean it out and start over with a fully funded reserve. Then work out what to do with the losses - find a sugar daddy, fleece shitcoin developers, raise fees, whatever makes sense. Declaring on the front page that "all deposits and trades are to be considered at your own risk" is just asinine.

Well, to clarify I meant if they are to solve the problem (hence "solution") this is the only way to do it. Shutting down the exchange is also an option but I wouldn't consider that a solution per say.

Starting over without having first paid back users' losses seems like it wouldn't work - who would trust them?
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April 03, 2014, 09:46:52 PM
 #7

What exactly would be the potential investor getting for the ~500k USD? Some crappy code that was allegedly hacked? The "brand" has been damaged, there's no personnel to speak of, and user base is dwindling. I'm not sure it is the "simple" solution, as it might be tough to find someone stupid enough to put half a million into something so pathetic.

What they should have done is to end this ridiculous trading with empty wallets, just clean it out and start over with a fully funded reserve. Then work out what to do with the losses - find a sugar daddy, fleece shitcoin developers, raise fees, whatever makes sense. Declaring on the front page that "all deposits and trades are to be considered at your own risk" is just asinine.

Well, to clarify I meant if they are to solve the problem (hence "solution") this is the only way to do it. Shutting down the exchange is also an option but I wouldn't consider that a solution per say.

Starting over without having first paid back users' losses seems like it wouldn't work - who would trust them?

Newbs that don't know any better. Pump'n'dumpers who lost little or nothing in the scam but stand to benefit from the continuing onslaught of shitcoins. Developers of said shitcoins who don't have any other place to go.

Of course everybody would like to see the losses paid back sooner rather than later. But there is a slower solution too - pay back over time, if they were serious about it. Which they are obviously not, so it's all irrelevant Smiley

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April 03, 2014, 09:57:13 PM
Last edit: April 03, 2014, 10:09:19 PM by Radar
 #8

I don't understand why there is all this back and forth discussion about Crypto Rush and especially these bizarre IRC conversations that keep showing up on PasteBin. It seems like they just keep trying to change ownership and suggesting far-flung ideas that aren't going to resolve the issues at all.

Let's be clear: There is only one way to fix Crypto Rush, and it needs to be done immediately if there is to be any hope of salvaging this exchange.

YOU NEED TO FIND AN INVESTOR TO BUY A LARGE PORTION OF OWNERSHIP IN CRYPTORUSH IN EXCHANGE FOR DEPOSITING ENOUGH BTC, LTC, AND ALL OTHER CURRENTLY "MISSING" COINS TO BRING THE BALANCES BACK TO WHERE THEY SHOULD BE. PERIOD.

I don't know why this is so complicated. It's really simple. All this talk of ridiculous ideas to get users to deposit more coins onto the exchange "in good faith" with the expectation that they will be rewarded is ABSURD.

You have zero credibility right now. None. No where near enough people are going to trust you with a deposit until after the current deficity issue is resolved fully. You got caught lying and misusing users' funds to try to cover your mistakes. Admitting to making those mistakes is not enough. The only way to fix this is to replace those funds, right away. Not 3 weeks or 3 months from now, but now.

Please stop screwing around and not taking this seriously enough. Please stop chatting on IRC and playing Diablo III and fix the royal clusterfuck you created.

Thank you.


I read the cryptorush pastebin article this morning and I've actually seen a dev streaming Zelda on Twitch a week ago lol.  Cryptorush will be fine if they cut server costs by voiding some of the shitcoins or charge a fee to list a altcoin.  If worse comes to worse then they can sell their source code.
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April 03, 2014, 10:01:21 PM
 #9

Those with btc or alts stuck inside would wish to find a "solution". It is apparent for those who are not involved, that the only solution is to shut it down. The exchange is hardly functional if you can only sell btc/ltc to buy new alts, while the sellers of those new alts will not receive any btc/ltc in return.
dogechode (OP)
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April 04, 2014, 01:16:54 AM
 #10

which pastebin are you referring to? And as far as selling their source code... I think they based it off another exchange lol.
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April 04, 2014, 02:16:56 AM
 #11

Those with btc or alts stuck inside would wish to find a "solution". It is apparent for those who are not involved, that the only solution is to shut it down. The exchange is hardly functional if you can only sell btc/ltc to buy new alts, while the sellers of those new alts will not receive any btc/ltc in return.

Can anyone get their coins out anymore?

I heard you could swap your coins into some other alt and withdraw that a few days ago. Have they locked everything so you cannot withdraw ant alt now?
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April 04, 2014, 02:59:32 AM
 #12

any coin that is worth anything is 'in maintenance mode" lol maintenance my ass !

 and you can't withdrawal on btc or ltc, only on coins that are overpriced or that it has no other exchange worth the fack

Where are the exchanges that do not require you to provide with birth certificate, passport, drivers licence, SSN, bank account and a notarized letter from your mother ?!?  yet, provides a decent trading platform?   
dogechode (OP)
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April 05, 2014, 02:15:00 PM
 #13

any coin that is worth anything is 'in maintenance mode" lol maintenance my ass !

 and you can't withdrawal on btc or ltc, only on coins that are overpriced or that it has no other exchange worth the fack

Where are the exchanges that do not require you to provide with birth certificate, passport, drivers licence, SSN, bank account and a notarized letter from your mother ?!?  yet, provides a decent trading platform?  

I have had good results with Bittrex and Mintpal so far. I also never had any problems with Cryptsy other than the totally unnecessary lag but... Cryptsy just feels shady to me.

I also have never had an exchange ask for anything other than like name, location, and email so not sure what you are referring to.
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April 05, 2014, 03:24:57 PM
 #14

YOU NEED TO FIND AN INVESTOR TO BUY A LARGE PORTION OF OWNERSHIP IN CRYPTORUSH IN EXCHANGE FOR DEPOSITING ENOUGH BTC, LTC, AND ALL OTHER CURRENTLY "MISSING" COINS TO BRING THE BALANCES BACK TO WHERE THEY SHOULD BE. PERIOD.

this will never happen. no one trusts the exchange anymore and no one can change that

Those with btc or alts stuck inside would wish to find a "solution". It is apparent for those who are not involved, that the only solution is to shut it down. The exchange is hardly functional if you can only sell btc/ltc to buy new alts, while the sellers of those new alts will not receive any btc/ltc in return.

Can anyone get their coins out anymore?

I heard you could swap your coins into some other alt and withdraw that a few days ago. Have they locked everything so you cannot withdraw ant alt now?

i managed to withdraw everything as reddcoins. worked surprisingly well.

CemQJWb3qA3DKsUV8nyfkgRe57zEKgmUm7
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April 06, 2014, 01:40:52 AM
 #15

CryptoCrash.ing
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