Post
Topic
Board Announcements (Altcoins)
Re: [ANN][Exchange] Latest Cryptsy Additions, News and announcements. NEW SITE
by
area
on 21/12/2013, 09:28:31 UTC
I am worried that they discovered their Cryptsy Points calculation was wrong (i.e. they were depositing too many Cryptsy Points into accounts).

The more I think about it, the more likely I think this is.

Based on https://www.cryptsy.com/users/cryptsypoints:

Quote
How Many Points Will I Earn?

Each point has a reward value of 0.001 BTC. You will earn points based on 4% of the trade fees collected on your account. You will also earn points based on 1% of the trade fees collected from your referrals.

So lets say you paid out 0.1 BTC in trade fees in a given day and you had 10 referred users which also paid 0.1 BTC in trade fees each on that day.

Points Earned Directly     4 CP
Points Earned from Referrals     10 CP
Total Points Earned that Day     14 CP

40 CP corresponds to 1BTC in trade fees, or a turnover on an account of roughly 400 BTC, assuming an average trade fee of 0.25%. Scaling these numbers up to my account, I get what seems like a totally preposterous turnover, which suggests something is amiss. If there's a mistake in the above calculation, someone please point it out!