there is value in this house itself : CRYPTSY
if it was penny stock exchange - value of such house would be in billions
if it would go under bankruptcy - lawyers would sell to highest bidders
you say : small coins have no value : how much bigger intrinsic value having diamonds, posts stamps and so on
by allowing lawyers to sell Cryptsy to someone for pennies ( possibly to competitor who would close Cryptsy )
by this action ( or inaction ) - allowing to sell Cryptsy for ZERO - we would confirm ( as you say) that all altcoins have ZERO value
actually, best outcome for all coin holders would be survival of cryptsy
an option to convert altcoin deposits in stakes in the company or similar
this happens quite often in bankrupcies
but it must be transparent an under our control
IMHO this is possible
that would:
1.prevent deaths of smaller coins
2.give some remote chances for recovery of funds
ordinary bankruptcy - lawyers will take all
What part of Craptsy is bankrupt do people not understand?
There is no money... coins of value were stolen 19 months ago... Craptsy has maybe $100k worth of crapcoins to dole out, so be patient...
Dead coins are worthless because they are scams which were abandoned after the pump-n-dump... don't invest in them, so some research before throwing your money away...
you are right when say that bankrutcy is a bad option,but it is inevitable if some big investor does not buy it.
If Cryptsy wants to stay in business,they needs a lot of income,big volume,quick and effective support response,deposit/withdrawal works smooth,fast trade engine - everything Cryptsy lacked before hack
So every investor have to put a lot of money at start and give members reasonable plan how to pay debt - that is not likely at all
you are also right when you say that Cryptsy fall will mean certain death for a lot of small coins - but uncontrolablle putting coins on exchange is one of reasons for Cryptsy security was on such low level - they had only one man Mullick to maintain few hundred wallets which was completely insane.They hired ordinary people to give endless excuses for a technical problems they had,instead to hire qualified tech support to maintain such beast.
Also there is a quite big security risk that Cryptsy can be bought by some notoriuos scammers,which could exploit sensitive private info of their members given through AML or make Mintpal 2
Why do you think that anyone would be stupid enough to deposit coins on cryptsy to make this plan work.