Topic: [ANN] Bitcoinica Consultancy abandons customers. Bitcoinica to enter Liquidation - page 13. (Read 54936 times)

One would think so, but then one would be confronted with the reality of what the Intersango Gango is really all about. Shame, shame shame.

I guess Patrick is so cocky and disrespectful because he believes that he will not be held to account or punished for his actions?

Surely such a "Security Expert" who boasts on the Intersango website about his supposed technical ability and "courteous" support would want to legally clear his name with dignity, rather than just lashing out at those who want answers?


BB.

I guess until we show him respect, we are all expected to just remain silent so that he can enjoy his well-earned vacation on YOUR funds after he spent so much time dodging the issues about YOUR funds.

Or is that "fucking respect"? I forget, it was so many embarrassing moments ago for the Intersango Gango Clown Patrol.

What an asshole that is. He makes me sick.

Oh my.  Perhaps Patrick would care to enlighten users as to what he does regard as an appropriate method of communication.

Tihan, is there any indication yet when USD might start being recovered?  I know it was stated earlier that another 5000 BTC will be returned after the USD have been returned, but I also believe it's important for the community to see that the recovered funds are increasing and that the recovery process itself hasn't stalled.

MtGox was also hated by a lot of bitcoiners and some forum thread about mtgox raged for 50+ pages, just like bitcoinica. They also have a meme invented against them. It was called being "goxed".

However, mtgox survives/resolve the crisis, and people move on with their life, and the hatred, if not mistrust, disappears.

Bitcoinica consultancy on the other hand, just utterly fall apart after zhoutong/friend_of_zhoutong stole the money.

Only in crisis do people discover the true strength/weakness of an organization and the characters of the people who run it. If an exchange never been through the baptism of crisis, you don't know their integrity.

(To be fair, mtgox never have their money stolen by a possible insider who seems all trustworthy)

Mtgox survived one or two hacks last summer, they've upped their security probably withstanding more attempts since then than any other bitcoin online business. They're DDOS resistant to capacity that technology allows. They've had backups and were able to rollback their books after last summer's hack. And they were one of the first using cold storage for majority of bitcoins on their exchange. I'd say out of amateur company last year they've grew into one of most if not the most technologically solid bitcoin companies today. Other than deposit/withdraw issues mainly due to interfacing with fiat-ruled world they've upheld their reputation as an exchange on high level.

Bitcoinica on another hand?  I've lost count how many times it's been successfully hacked into and stolen from, there were so much fail, negligence, hindsight to security that it is not even comparable with Mtgox. Apples and oranges.

Do you think we care to challenge MtGox security at this time ? as long as it's not in Genjix - PhantomC hands I'm fine with it.

I is apparently "well documented in various places (it's all in a frozen mtgox account)"

That's great news! Perhaps you could explain what facts lead you to that conclusion, so the rest of us could feel as confident.

Thanks for this.

Now that 15k BTC is with MtGox (where is the rest? wasn't disclosed if there was still any in cold storage or if all of it was on mtgox), I'm curious about the further role of Patrick Murck. Hopefully zhoutong is still working with him on getting the rest of the funds from Chen Jianhai, BTC and USD.



Is there any possibility for Patrick Murck to meet the requirements of New Zealand law, so that Wendon Group can appoint him as receiver? Maybe Mr. Murck is willing to handle the claims process, and Bitcoinica Consultancy could hand over all the filed claims and their work on separating the valid from the fraudulent.

Tihan, you also previously stated that the fund would be proceeding with legal action against the Bitcoinica Consultancy. Is the fund still planning to do that?

you got it wrong
Bitcoinica is nowhere near where Mtgox was a year ago and never has

I think they would be a lot safer if they were held in an offline wallet, or converted to a fiat currency and deposited with an institution with insured deposits.

Is there any reason to believe that Mt Gox isn't today exactly what/where Bitcoinica was 6 months ago?

Just a note that, last time I looked, I could only find about four lines of source code from any member of "bitcoin consultancy" in the official/core bitcoin project maintained by gavin. It was just some bash script from Amir to check the OS and run the correct client. Since then, Amir has been working on his own client and library, not submitting pull requests to the official repository, as far I know.

Isn't that a bit harsh? After all, some of the Bitclown Consultancy members spent 3 days eating bad muesli and cheap milk.

Okay, no boycott, but no public forum for the Intersango Gang, and their logo comes off the website today. If you want the conference to be about healing and community, you don't welcome sewer rats as prodigal sons. Keep their money, god knows they have taken enough off the community to support lavish vacations for themselves instead of working on solving the problem that they created.

Let make this clear,

A boycott does not directly mean destroying "all the work, time, effort, reputation and money"...

Again,
While they are doing this they aren't doing what they should be doing. (to the detriment of a Bitcoinica resolution.)

If it hasn't come to mind yet that Amir's works toward the conference or anything else was affecting the members of the community and that it would directly affect the conference you've been burring your head in the same sand as these guys.

If you want to argue that they should ignore all Bitcoinica creditors and keep the money then do so in another thread and don't forget to go through the 300+ pages related to this fiasco before saying a word.

Cutting all ties with them at this point would be minimal a step to improve public perception of the conference and bitcoin in general.
It doesn't remove the fact that you may, with knowledge of the fiasco, have been working with these guys for months, accepting their work without question, show a lack of support to the affected members (even if their work seemed benevolent).


To give you a hint of how I feel; When I was looking at this video, http://www.youtube.com/watch?v=EQ2rb4pHH1g&feature=player_detailpage#t=682s  I was thinking : " How can they be listening to this guy talking about something else ? and ...  They must know about it
There are priorities in life. Now you know.

"monumentous" is the time wasted by this community to this fiasco, monumentous is the cost of their inactions, monumentous ...ain't even a word.

Can you imagine the amount of stress they put onto the thousands of bitcoinica customers ?  I personally have canceled contracts to work on this, I have lost sleep, I have spent hundreds of hours following this and attempting to get into contact with them.  They're withholding some insane amount of my lifesavings and can't be bothered to give an update.

Anybody benefiting from their time/work in anyways without doing anything to solve this should be ashamed.

Zhou has never claimed to be anyone else but the person in the photos he sent for the entire time before and after the hacks. Since this is the case, Seale's answer is not necessarily deflective. Of course you could still claim Zhou was an invention ever since, but what motives should Seale have to protect him? I think he would be better off telling everyone it was a made up identity if this was the case.

I wish I did not have a mouth full of hot coffee when I read that.......

I blame the spell check in chrome.