Quote from: placebo on February 13, 2016, 08:34:02 PM

Quote from: easteagle13 on February 13, 2016, 08:30:53 PM

HI guys,

Placebo, Im very sorry to know that you lost so much in Cryptsy, let us hope that like in mintpal we can recover them...

If anyone of you can open a node, it will help KArma network to update faster. Thanks.

-east

It is part of life... but what i would hate is that KARMA will move higher and that Big Vern will dump on us... and he has a lot of coins, would be much better if those were all gone, even when i lose 1,000,000,000 i still have 700.000.000 that are on Yobit.

I lost a few hundred million coins on Cryptsy too.
In reality though, it is the coin holders own fault for giving their coins to what was very clearly an insecure exchange. Especially after the Mintpal collapse and all of the warning signs.

that being said.. I would rather have my coins be destroyed than end up in the hands of criminals.
Karma is about a giving economy not rewarding people for negligent or criminal behaviour.

Now obviously there is no way to destroy coins if you do not have access to the private keys that control them..
However we could in theory put in some new code and hard fork the blockchain to black list all addresses associated with cryptsy.

The benefits of this would be:
1) that nobody, not even big vern would be able to transfer the coins from those addresses.
2) there would be a significant reduction in the amount of coins in circulation.

ultimately though a drastic measure such as this would need network consensus to take hold and might even set a dangerous precedent.

One thing is for certain though. If people do get their coins back from crapsty.. they will only move them to the next exchange for trading until that one too collapses.