Cryptsy Crash & Burn (CCB)

astro 2016-01-09 19:57:56 UTC #61

Let's not pretend everything said in a forum post is written on the blockchain

We all understand how these risk/reward assets work. In this case there's an opportunity to take a smaller loss than 100% if it comes to that. I think it's good for a discussion on when that point is, that's all.

rdyoung 2016-01-09 19:58:06 UTC #62

I did. I also said that I could get them to kill my current withdrawals and take a haircut on the "profit" if need be.
I have been cycling with coins like NXT and using limit orders to "guarantee" a profit even after the haircut from using another coin to exit. One of my current expectations is that a large enough arb opp appears for doge that it will bring in some fresh funds to help me get out at a very nice profit.

AnimoEsto 2016-01-09 19:59:03 UTC #63

Remember we actually don't delete anything on here

CryptoMadeMan 2016-01-09 20:00:04 UTC #64

Yeah what he said lol

astro 2016-01-09 20:00:31 UTC #65

Don't get cheeky with me! lol.

Obviously I meant people can change their opinions and plans

InsaneMiner 2016-01-09 20:00:45 UTC #66

(post withdrawn by author, will be automatically deleted in 1 hour unless flagged)

AnimoEsto 2016-01-09 20:04:31 UTC #67

Resolved that

rdyoung 2016-01-10 18:40:36 UTC #68

We got our first withdrawal, 0.08 - cryptsy's withdrawal fee. Add to that a small amount I pulled from another trade round and dividends totaling 0.083 will be paid sometime shortly. I am destroying the assets I sent to be listed on the exchange, as soon as those are destroyed I will issue dividends.

rdyoung 2016-01-10 22:50:26 UTC #69

First Dividend payment for CCB.

Coins Owned - 69
Dividend amount - 0.0835
Dividend Per CCB - 0.001210
Dividend % - 2.20%
https://www.coinprism.info/tx/bf48d4ff3b0cd95c74c086892f9a18a47b99e733cc7f71fb726d3d077c69d9c3

ilidion 2016-01-11 01:12:33 UTC #70

congrats. seems like small amount withdrawals are going out slowly. keep up the good work

Dave_Wills 2016-01-13 02:21:34 UTC #71

@rdyoung
How are things progressing on this asset?
Do you feel this is working the way you had it planed?
Let me know when you can.
Thanks
-David

rdyoung 2016-01-13 02:35:27 UTC #72

Its going pretty much as I expected. I knew from the start that it might take some time before the BTC withdrawals were processed. While it is a gamble, the time spent waiting for the withdrawals is worth the return from the arb opportunities IMO.

I have been successfully moving funds in a circle and making some decent profits. I am considering having cryptsy kill the pending withdrawals for this asset and throw them into the rotation. I have no idea how much BTC I can push through before the well runs dry but I am willing to go till the end. I might also start pulling a bit out and letting the BTC being traded "draw down" so that if/when the well does run dry I am not left with everything locked up in cryptsy.

Dave_Wills 2016-01-16 19:22:53 UTC #73

@rdyoung
My step dad called me the other night, and told me Cryptsy office's were stripped and everything was empty, he also informed me Big Vern's house was up for sale too. My step dad does property management all over south Fl. and he is very much in the loop of things that are going on.

Allen1980s 2016-01-16 20:13:28 UTC #74

Anyone see this? http://www.coindesk.com/cryptsy-bankruptcy-millions-bitcoin-stolen/

Allen1980s 2016-01-16 20:14:33 UTC #75

July of 2014? that was a year and a half ago. Things seemed to be working fine up until 2 months ago. How did they manage to last this long if the "heist" was over a year and a half ago?

astro 2016-01-16 20:18:56 UTC #76

coinfire article caused a run, they tried to do the withdraw fee to stopgap, that caused an even bigger run, lol.

Allen1980s 2016-01-16 20:33:25 UTC #77

Well, people were already on edge anyway. If Cryptsy had announced the loss earlier on, like other exchanges had done in the past, the end result may not have been so dramatic. However, 10,000 BTC is a lot to absorb, and I figure they would never have recovered from that ever.

astro 2016-01-20 05:03:23 UTC #78

@rdyoung

Cryptsy opened some wallets for withdrawals. So if you have any of these coins, good time to pull out.

http://blog.cryptsy.com/post/137323646202/announcement (at the bottom)

BoB 2016-01-20 07:13:15 UTC #79

It truly was a scum move on their part. I saw several users on Twitter claiming they'd deposited money for the first time recently & they've not been able to get their cash back.

Seems even worse for them - people with Crypto experience knew there were issues, newbies, not to much

rdyoung 2016-01-26 01:59:54 UTC #80

A small update,,,

I am watching the coins they open up and if/when they allow withdrawal of the coins I still have in there aside from BTC I will beeline for the exit. As of now funds are locked up tight with them, as soon as / if they start processing some BTC withdrawals I will pass it on.