Be careful everyone with the other exchanges in the coming days and weeks, especially at peak usage times, since there are indications that some may not be fully prepared for the sudden increase in customer numbers. Exercise extra caution for a while.
Indeed, and if Cryptsy actually has to go for the insolvency option there is a chance that the remaining coins are traded elsewhere into one base currency before an attempt to satisfy the debt holders is made. If things go well the coins in individual accounts can be transferred out as is and only Cryptsys own assets are taken, if not everything goes into one pot first.
The situation developing around BTC and its problems might trigger decisions of exchanges to make more base currencies for trading pairs available. For now LTC, DOGE and DASH seem to be the preferred choices. Any ideas how DGB could gain ground to enter into this pool?
A chance would be more possibilities to buy into DGB with fiat currencies. The possibilities are not that plenty with Bitcoin itself, at least if you don't want to use third party payment providers like OKcash, PerfectMoney, Payeer or, in crypto almost unused anyway, PayPal and the like, and are very limited for about any altcoin whatsoever, the only exception, if any, being perhaps LTC. Litebit offers DGB, that's already a good start. But if an altcoin manages to get ahead here, able to be exchanged comfortably and for reasonable costs with fiat on several providers, and being ahead of BTCs problems on the technical side, aka limited transaction bandwidth, confirmation time and perhaps decision stale mate on the coin managing side, then the future holds a chance for it to develop into the next top dog in crypto.
But to be realistic this requires BTC core not being able to pull itself together and made ready for future growth in time and this situation provides the danger of being a major setback for the whole crypto world, especially after it already took a hit with Cryptsy.
Not to be mistaken, I'm sure crypto and block chain is the future, but the currently existing eco system is in somewhat like a race in getting a foothold into mass adoption before Branson, Google, Apple or whomever launch their own version, meaning almost certainly closely tied into and heavily regulated according to their visions of market, profit and monopoly eco systems, and taking everything over by force.
1. I think it is fairly obvious by now that Cryptsy has no assets (hence they were drip feeding btc withdrawals). I have seen users claim that they also did not hold full levels of alts (because they were trading them to buy other coins such as btc). So IMHO I doubt anyone will see anything back, even just 1%.
2. You raise an interesting idea. The easier it is for people to trade fiat to DGB the more appealing DGB trading pairs would be become. There is still a volume/value issue to overcome perhaps, but transaction speed, market cap etc are there already. DigiByte has been around for 2 years now, and it's quite clear that development is still going strong. These things would certainly count in our favour. However, I daresay it is not such a simple decision...exchanges only do things which line their own pockets, so probably the only way to establishing DGB trading pairs would be to get in tight with one of the more reputable alt trading exchanges.
