Topic: Cryptsy Owns Paycoin Hyperstaking Prime Controller - page 2. (Read 1199 times)

inBitweTrust

hero member

Activity: 658

Merit: 501

This makes them directly complicit in the fraud instead of merely indirectly profiting off it. They are dead to me and should be avoided and ostracized like the plague. To those only with selfish interests .... this will also expose you to audits , subpoenas and investigations by many dangerous state actors who are currently investigating paycoin. Cryptsy is exposing you to this liability by accepting a prime controller.

Quote from: favdesu on April 25, 2015, 04:10:01 AM

Quote from: Franz_Huber on April 25, 2015, 03:44:26 AM

Quote from: favdesu on April 25, 2015, 01:41:46 AM

New Plottwist?

If this is true, then cryptsy is now part of the paycoin fraud - and dead to me. I won't touch cryptsy anymore, not even with a 10 foot pole. Angry

Can someone confirm that cryptsy now holds a "prime controller" of the paycoin network?

they confirmed it here https://bitcointalksearch.org/topic/m.11190036 - so yeah, it's true.

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

Quote

During a community hangout organized by the Paycoin Foundation, a surprise announcement was made that one Prime Controller is being held by digital currency exchange Cryptsy. The transaction was also posted about on the Paycointalk forums. According to that post, it seems plausible that the Prime Controller was given to get Cryptsy to update to the new Paycoin wallet.

Prime Controllers are a feature unique to Paycoin, although calling them a feature is a bit like saying a burning sensation is a feature of gonorrhea, it may technically be true but that doesn’t mean it is a feature appealing to anyone.

Prime Controllers are essentially wallets that stake at a higher rate than regular wallets. Originally, that was going to be 10% compared to a normal wallet’s 5%. It was eventually revealed that some Prime Controllers were staking at a rate as high as 350% compounded interest.

http://www.miningpool.co.uk/breaking-cryptsy-owns-hyper-staking-paycoin-prime-controller/

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