Cryptsy Crash & Burn (CCB)

[Dave_Wills]

Hell as long as an asset is MAINTAINED by the creator, I say go for it.
The minute the creator of an asset fails to maintain the asset, I think their right to create a new asset should be terminated by the community members by not purchasing such members asset. Let them speak with their wallets is what I say!
That being said I personally have dealt with @rdyoung many times and have been very pleased.
.25btc headed your way!!
https://www.coinprism.info/tx/8a8d419fe219787a3804ca6fbd31d6b925c442af257d9e33f441c73a5766f22c
send asset to akQ9ho3MFEcEa7g3pEoVcwa4fVHnsCZLe3c

[rdyoung]

Just processed the crowdsale. 36 CCB on their way to their respective new homes

I will do my best to post what I buy/sell/etc for those wanting to keep up.

[rootdude]

@rootdude, you misread me. There is a glitch letting people withdraw more than they are owed, this is emptying the hotwallets and no more withdrawals can be processed till they are topped up.

Sorry if I did - so essentially people are stealing from their hotwallets through no fault of their own? That's crazy.

[rdyoung]

If I am correct then it is intentional. When it's happened to me its after I sent multiple TX requests very very quickly back 2 back. I bet you could do a lot more damage if you used a script to request them faster than I was by hand.

The above said, its likely a small # of people doing this in intentionally. Cryptsy does prevent future withdrawals once your balance of any coin is negative, that is likely slowing things down but they need to figure out how other exchanges prevent this glitch and get it fixed asap.

[rdyoung]

The first BTC from the crowdsale hit the exchanges.

Bought 73k POT @ 136 and sold to cryptsy @ 195 for a 43% profit.
0.04 was withdrawn to the dividend address 187PF73hE7m2iiPVQwJK5BLMav66kkMdKA with the remaining to be withdrawn back to bitt and polo to repeat.

[ilidion]

gj. hopefully you get the btc out. Ive had .6 btc in there and have not been able to withdraw in weeks. Hopefully withdraws start coming out and you guys get a nice profit.

[rdyoung]

That's why it's a risk. I am also breaking the withdrawals up into smaller chunks to hopefully increase the chances of them being processed.

[deeneendo]

didn't work for me...

[Bishop81]

When are payouts with this coin? Is it after each trade, or on a weekly/bi-weekly basis?

[rdyoung]

When are payouts with this coin? Is it after each trade, or on a weekly/bi-weekly basis?

From the OP

100% of the Profit from a trade will be issued as dividends as soon as the withdrawal is processed. The principal will be split between BTC/LTC/DASH and withdrawn to another exchange to repeat the process.

Dividends could get processed every other day or once every few weeks. Its all dependent on how fast the withdrawals move out of cryptsy.

[Bishop81]

Thanks!

You've probably thought of this, but is Cryptsy processing withdrawals of other coins besides BTC? Maybe there's a secondary, albeit small, arb opportunity available by sending a different coin back to one of the other exchanges and converting there...

[rdyoung]

I have definitely thought of it. It takes a lot of patience to find one that doesn't give back all of the profit, the best I have been able to do is about 1% profit for the roundtrip.

Something else that has crossed my mind, though it may be a bit unorthodox is to buy a high pos coin like hyperstake. It would be another bet that it won't crash faster than the stake rate but I think it could be profitable over the long term.

[rdyoung]

Processed another crowdsale.
https://www.coinprism.info/tx/b7f409ea966b172e0ab474cd25194a68c9ccffb0c725019facd5a557fb0f399e

We will have 62 CCB in circulation when this last tx hits the chain.

[rdyoung]

Bought and sold 8112 NXT for a 57% profit. 0.067 is on its way to the dividend address with the remainder going back for another round.

[deeneendo]

to be fair: Cryptsy finally let me withdraw 0.17 after a week of delay. now for the pending 26 LTC that has been pending since 12.12... I am thinking I might be better off exchanging to BTC and try to withdraw that. Any suggestions from anyone who has been in the same situation?

[rdyoung]

to be fair: Cryptsy finally let me withdraw 0.17 after a week of delay. now for the pending 26 LTC that has been pending since 12.12... I am thinking I might be better off exchanging to BTC and try to withdraw that. Any suggestions from anyone who has been in the same situation?

I would consider just leaving that LTC in the queue unless you NEED the funds.

[rdyoung]

We have a new logo thanks to @lothendriel

[Hytekk]

Nice logo, I like it Houhahhaha

[Miramyn]

Could it be the start of the end?

[rdyoung]

You would think, but I have been able to trade. Either they fixed the issue quickly or they don't know how to disable the trade engine. OR, it only applies to the web interface as I am using a bot.