Post
Topic
Board Scam Accusations
Re: CRYPTSY stopping withdraw locking accounts without notifying users! Class Action
by
Northstar
on 07/12/2015, 14:48:31 UTC
One more important piece of information for those who are still unsure of what to think about this fiasco:

I made a post a week ago (around page 75 on here) that one way to withdraw your coins would be to convert into Doge, as they seem to have plenty of it and will welcome you giving them BTC for their Doge. Even back then, you stood to lose around 15% on the difference in price no the exchanges, ie Doge back then was 37-38 on Cryptsy and 32-33 on Poloniex and the equivalent in CNY on BTC38. I predicted that as this issue drags on, the disparity in Doge price will only grow, and that seems to be the case now. Cryptsy's DOGE price is now at 40 sats while it's dropped to 30-31 on Poloniex. You now lose 25% of your coins' worth by going that route and I anticipate as mass panic starts to set in, Doge price will further rise on Cryptsy and fall on other exchanges. This is identical to what happened to BTC (dropped to $100) on Mt.Gox in March 2014 while it was still over $300 on other exchanges.

I hope BTC withdrawals magically start working again, but if my analysis continues to be correct, this is the direction we are heading in.