Cryptsy LP Issues

[nmei]

Community,

As all who trade on cryptsy are probably well aware they have been having serious withdrawal issues. The BTC, LTC and BTCD wallets are all experiencing “issues.” And I personally have had a withdrawal on hold for 5 days now…

In light of this issue - I cannot recommend continuing operations of the Cryptsy LP past the current term. The good news is: we are currently operating beyond the actual term window. Nu has gotten some value out of the grants. But I will not be putting up another grant. Cryptsy is just too difficult to deal with.

Perhaps it will change in the future. And if so I will reassess.

[Nagalim]

I hope you’ll consider moving your operation to HitBTC when the new ALP software comes out.

[zoro]

I am waiting my BTCs for 10 days now!
I hope we won’t have another mtgox!

[nmei]

Agreed. I don’t want to be ugly, but I hope they are just inept and not thieves.
Either way - I don’t want to do business there any more.

[NubitGuy]

5 / 10 days your lucky iv been trying the pass month so instead of withdrawals of btc I bought nushare and withdrew those With no problem im not the only on getting out this ways that would explain the unusual high prices on cryptsy everyone buying up altcoins and leaving I strongly suspect that Cryptsy played with users BTC on other exchanges and lost them using users BTC deposit wallets for pending withdrawals

[nmei]

All we can do now is pray that it comes back. And I’m serious.

[Dhume]

Nbt on cryptsy

I hear increasingly worrisome stories about cryptsy on traders forums. Doesn’t look good.

As I’ve said 2 weeks ago I feel very worried about Cryptsy, in my opinion we cease operations immediately.

[masterOfDisaster]

in my opinion we cease operations immediately.

I see a big difference between listing exchnages that trade NBT or NSR on the nubits website and officially supporting them by compensating liquidity operations.
In the light of the recent issues around Cryptsy I doubt that another term would be supported.

Stopping an operation in the middle of a term that contains no exit clause would be problematic.
But as

we are currently operating beyond the actual term window.

I can only recommend to stop it after having announced it to give the LPs the chance to find another ALP.

Future ALP terms might have clauses that allow the operator to stop the operation if the credibility of an exchange is damaged. The problem is that some discretion is required for that, because you can’t always know how the issues of an exchange look like.

And I’d like to see terms that allow flexible adjustments of the compensation per side (increase compensation for low sides or decrease compensation for crowded sides).
But that is something for a different topic.