I am taking a poll to decide the fate of the Cryptsy Prime Controller. Why a poll? Because though a few outspoken forum members wish us to destroy it we would like to be sure that the majority feel this should be the fate.
Some members felt that we should also de-list the coin due to Mr Garza's involvement. At this point it is my opinion that the only people affected by such a move would be the current stakeholders who would lose a large amount of value in their holdings. So at this time a de-listing is unlikely.
To reiterate the only dealings Cryptsy has had with Mr Garza was as a customer. There was no formal relationship. I can assure you all legal steps taken in regard to that situation have been taken. Most of you realize we cannot release more information than that for legal reasons.
We will leave the poll up for a week or two. Thanks for your participation.
Click Here to vote
Some members felt that we should also de-list the coin due to Mr Garza's involvement. At this point it is my opinion that the only people affected by such a move would be the current stakeholders who would lose a large amount of value in their holdings. So at this time a de-listing is unlikely.
To reiterate the only dealings Cryptsy has had with Mr Garza was as a customer. There was no formal relationship. I can assure you all legal steps taken in regard to that situation have been taken. Most of you realize we cannot release more information than that for legal reasons.
We will leave the poll up for a week or two. Thanks for your participation.
Click Here to vote
"No formal relationship" - You mean aside from the fact that Cryptsy CTO was apparently BFF's with Josh Garza and talked about "cupping his balls" all the time?
Ill have to look but I do not believe Marshall was the CTO at that time he has recently joined the company. Bryant was our CTO when we added XPY.
So it is not at all concerning to you that Marshall Long has a pre-existing close relationship with a known scammer/tax evader/money launderer???
Not really my lane as far as hiring though the "close" relationship aspect does not show collusion. Many in this community, and this forum spoke with MagicalTux (Knaples) only to later learn he was not a good person. If we knew at the time that XPY would turn into such a catastrophe we would not have carried it. At this point however the harm would be to the folks that he fleeced not the suspect himself. So who do you want punished?
Well, there's an easy way to help mitigate the damages that Cryptsy has played an integral part in: DELIST THE FUCKING COIN. If you do not do this, you might as well paint a big red fucking target on Cryptsy for all the alphabet agencies to fixate on, and as far as I'm concerned you will be complicit in any future criminal acts that Josh Garza commits (ignoring for the moment that Cryptsy has apparently aided and abetted money laundering for Josh's operation for quite some time). Why is this even a discussion for you? Can you not see how bad this makes your company look???
Again de-listing the coin only harms the current stakeholders not the individual you want to hurt. It is also listed at other exchanges. As far as the complicit I have already stated we took the appropriate and only legal action we are allowed to take in regards to that situation.
On another note: I have not spoken to the boss in regards to de-listing if it wins the poll we will have a serious discussion on that matter.
John, I appreciate the fact that you are responding. I hope that you will take these concerns very seriously. The ship has sailed for the XPY bagholders. They already lost like 90+% of their investments. This is about crippling Josh Garza's ongoing scam operations and ensuring that this disaster comes to a close. This coin will never lose the taint of Josh Garza, no matter how many hillbilly priests take over the coin and anoint it with holy water. If you want to do the right thing, the right thing is: delist (coin), destroy (prime controller), denounce (Josh and GAW). To do anything else is folly.
You make some great points and I appreciate the candid discussion. Probably one of the better written responses I have seen
I think you will get the majority if not all of those requests. I just want the folks to be able to get in their 2 cents before we make a unilateral move that may affect the bagholders. One of the reasons we generally don't de-list coins is we feel that removing even a horribly performing coin is bad for the customer so we keep them. I think de-listing coins perpetuates the pump and dump mentality.
Honestly I could care less what Cryptsy does as far as delist/list of any coin.
My problem is that an exchange registered with FinCEN
You as an exchange are not responsible, and should not get into the responsibility of, your user's profits and/or losses. You provide a service to exchange coins/FIAT. Stick to that. If XPY is a scam, and it appears to be so, then you should be following internal policies and procedures. Since you appear to either have none or have a policy to just follow past practice , you should be staying with ONLY past practice.
Here's my honest suggestion:
1) Take down the poll.
2) Contact your attorney, and not an 'intertoob' one, about both your current CTO and your current involvement with XPY in regards to your PC.
3) Stop posting publicly until step #2 tells you otherwise.
4) Follow the legal direction from step #2.
Take it or leave it...
You making the assumption we had a formal arrangement with Mr. Garza beyond him being a registered verified user.
Your also making the assumption that we did not do our due diligence in reporting. Which it is illegal for me to expand on any further than that.
The Prime controller arrangement was made with other parties after Mr Garza was out of the equation. Though with good intention the public backlash has led us to reconsider the move which we intend to do.
Cryptsy is an exchange yes we listed the coin just like we list the majority of coins. There was to my knowledge " and I have inquired" no formal relationships made.