Looks like Vircurex is doing what I suggested here.
http://imgur.com/ZJL94J3
Topic: [ANN] Pmtocoins.com new exchange [Update 28/03] - page 7. (Read 15084 times)
I think BTC/BTC2 is a bad idea. It's almost like mtgox when they suspended USD withdrawals.
It's nothing like mtgox. New BTC withdrawals would work just fine, it's just the old users who can't withdraw their old BTC, except that with this solution they maybe can. If the admin doesn't do anything, they will never get any of their money or it will take a long long long time.
Quote
Admin should have wound back all trades. Users should not be responsible for covering the shortfall.
Little late for that. That has already happened and something needs to be done. Halting all trading and stopping the whole exchange won't do shit towards getting the users paid. The admin obviously can't pull 30 BTC from his ass, especially in india where 1 BTC is a hefty months salary.
Do you maybe have some constructive criticism against the idea or does someone else? Feel free to come up with better ideas and share. I for one would like to get my BTCs out.
I think BTC/BTC2 is a bad idea. It's almost like mtgox when they suspended USD withdrawals.
Admin should have wound back all trades. Users should not be responsible for covering the shortfall.
Admin should have wound back all trades. Users should not be responsible for covering the shortfall.
So I guess situation is worse than described and we are "partners" for a long time... 
Hmm actually I think I have even better idea.
1) You clear ALL buy orders.
2) You create BTC2.
3) You move all existing BTC account balances to this BTC2 balance.
4) There's nothing you can do with the BTC2 except put up a withdraw request.
5) All future trading happens on real existing BTC.
6) The new "reinitialized" BTC can be withdrawn without waiting.
7) You collect BTC fees and pay out the "BTC2" withdraws with it.
And there's also another extra possibility :
You can create a BTC2/BTC market where people can try to sell their BTC2 for real BTC, obviously at a lower price, to try to get money that you can actually withdraw without waiting. Some who have some faith left in you paying out the debts in the future could invest and buy BTC2 at for example 1.3 BTC2 for 1 real BTC.
And since your exchange can't handle LTC based markets at the same time with BTC based ones, I think you should close the markets I mentioned above that are no longer suitable for BTC.
Trading with the current imaginary BTC balances MUST STOP. It only creates more people that can't withdraw.
1) You clear ALL buy orders.
2) You create BTC2.
3) You move all existing BTC account balances to this BTC2 balance.
4) There's nothing you can do with the BTC2 except put up a withdraw request.
5) All future trading happens on real existing BTC.
6) The new "reinitialized" BTC can be withdrawn without waiting.
7) You collect BTC fees and pay out the "BTC2" withdraws with it.
And there's also another extra possibility :
You can create a BTC2/BTC market where people can try to sell their BTC2 for real BTC, obviously at a lower price, to try to get money that you can actually withdraw without waiting. Some who have some faith left in you paying out the debts in the future could invest and buy BTC2 at for example 1.3 BTC2 for 1 real BTC.
And since your exchange can't handle LTC based markets at the same time with BTC based ones, I think you should close the markets I mentioned above that are no longer suitable for BTC.
Trading with the current imaginary BTC balances MUST STOP. It only creates more people that can't withdraw.
This seems to be a good idea I will think about it and do the needful
Hmm actually I think I have even better idea.
1) You clear ALL buy orders.
2) You create BTC2.
3) You move all existing BTC account balances to this BTC2 balance.
4) There's nothing you can do with the BTC2 except put up a withdraw request.
5) All future trading happens on real existing BTC.
6) The new "reinitialized" BTC can be withdrawn without waiting.
7) You collect BTC fees and pay out the "BTC2" withdraws with it.
And there's also another extra possibility :
You can create a BTC2/BTC market where people can try to sell their BTC2 for real BTC, obviously at a lower price, to try to get money that you can actually withdraw without waiting. Some who have some faith left in you paying out the debts in the future could invest and buy BTC2 at for example 1.3 BTC2 for 1 real BTC.
And since your exchange can't handle LTC based markets at the same time with BTC based ones, I think you should close the markets I mentioned above that are no longer suitable for BTC.
Trading with the current imaginary BTC balances MUST STOP. It only creates more people that can't withdraw.
1) You clear ALL buy orders.
2) You create BTC2.
3) You move all existing BTC account balances to this BTC2 balance.
4) There's nothing you can do with the BTC2 except put up a withdraw request.
5) All future trading happens on real existing BTC.
6) The new "reinitialized" BTC can be withdrawn without waiting.
7) You collect BTC fees and pay out the "BTC2" withdraws with it.
And there's also another extra possibility :
You can create a BTC2/BTC market where people can try to sell their BTC2 for real BTC, obviously at a lower price, to try to get money that you can actually withdraw without waiting. Some who have some faith left in you paying out the debts in the future could invest and buy BTC2 at for example 1.3 BTC2 for 1 real BTC.
And since your exchange can't handle LTC based markets at the same time with BTC based ones, I think you should close the markets I mentioned above that are no longer suitable for BTC.
Trading with the current imaginary BTC balances MUST STOP. It only creates more people that can't withdraw.
Here's my suggestion on how to fix the situation.
PMtoCoins should convert ALL markets to LTC (and close the BTC/LTC market). This way everyone would be trading with coins that exist instead of imaginary BTC that you currently don't have in your possession. The admin could then trade the collected LTC fees to BTC to pay the debts.
This would make sense, since there are currently several markets on PMtoCoins (BEE, CAGE, CHE, EMO, EMU, FAC, FCK, GRUMP, KARM, LMC, MOON, NUT, PANDA, PENG, RBBT) that are no longer feasible for BTC market and have been converted to LTC markets on other exchanges.
Also I think it's absolutely necessary that you make the current process of paying BTC debts more transparent and organized. You need to post a list of withdraw id's and how much they are still owed. Then you process the withdraws in numerical order, not randomly based on people asking for their BTC. People would know when their turn will be by comparing their withdraw id against the list and also see that you are actually paying them out, although slowly.
PMtoCoins should convert ALL markets to LTC (and close the BTC/LTC market). This way everyone would be trading with coins that exist instead of imaginary BTC that you currently don't have in your possession. The admin could then trade the collected LTC fees to BTC to pay the debts.
This would make sense, since there are currently several markets on PMtoCoins (BEE, CAGE, CHE, EMO, EMU, FAC, FCK, GRUMP, KARM, LMC, MOON, NUT, PANDA, PENG, RBBT) that are no longer feasible for BTC market and have been converted to LTC markets on other exchanges.
Also I think it's absolutely necessary that you make the current process of paying BTC debts more transparent and organized. You need to post a list of withdraw id's and how much they are still owed. Then you process the withdraws in numerical order, not randomly based on people asking for their BTC. People would know when their turn will be by comparing their withdraw id against the list and also see that you are actually paying them out, although slowly.
glad i dont have a lot of coin to be withdrawn - something is not right
I called my friends in "the service"
I will have answers on the following ----- the creator's of the website/exchange(thieves), the posers' of the name "staff" (idiots/hackers/kids/theives), location(s)(housing locations and all relative locations in the past xx years), name(s), age(s), and all related/relative(s) phone number(s) to reach them at. I think I may start a "People's Service," soon for all the victims of theft. Basically, if it touched the site or directed anything public related at the site since opening....the name will be mine.
I have to go now, suiting up for an Apache Mission.
P.S. - I was given an estimate of three days before a call back. I will then post more info on the situation.
Assuming you're serious, I think it's going more than a little overboard to dox the admin of pmtocoins. This isn't mtgox.
How much was your withdrawal?
Edit: some of us are waiting for more than a week...not saying this is a scam but I'm starting to feel a little nervous.
Edit: some of us are waiting for more than a week...not saying this is a scam but I'm starting to feel a little nervous.
0.13 BTC. I can imagine getting nervous, especially when wanting to withdraw higher amounts.
But I do think the owner is doing everything he can to fix this. I actually just read the opening post and got to know about the current situation.
Maybe its a good idea for the time being to limit BTC withdrawals so more smaller withdrawals can be made and people at least move their balance partially around?
glad i dont have a lot of coin to be withdrawn - something is not right
I called my friends in "the service"
I will have answers on the following ----- the creator's of the website/exchange(thieves), the posers' of the name "staff" (idiots/hackers/kids/theives), location(s)(housing locations and all relative locations in the past xx years), name(s), age(s), and all related/relative(s) phone number(s) to reach them at. I think I may start a "People's Service," soon for all the victims of theft. Basically, if it touched the site or directed anything public related at the site since opening....the name will be mine.
I have to go now, suiting up for an Apache Mission.
P.S. - I was given an estimate of three days before a call back. I will then post more info on the situation.
A user was able to use the name Staff because of a silly GET method which has been fixed now. Why bother all this PM me and I will tell you where I am located
After ± 3 days my withdrawal got approved, I just got the first confirmation.
Although I do agree that this is quite long for an exchange, there are enough people who confirmed reception of their withdrawals so scam accusations are not really necessary.
Although I do agree that this is quite long for an exchange, there are enough people who confirmed reception of their withdrawals so scam accusations are not really necessary.
How much was your withdrawal?
Edit: some of us are waiting for more than a week...not saying this is a scam but I'm starting to feel a little nervous.
After ± 3 days my withdrawal got approved, I just got the first confirmation.
Although I do agree that this is quite long for an exchange, there are enough people who confirmed reception of their withdrawals so scam accusations are not really necessary.
Although I do agree that this is quite long for an exchange, there are enough people who confirmed reception of their withdrawals so scam accusations are not really necessary.
glad i dont have a lot of coin to be withdrawn - something is not right
I called my friends in "the service"
I will have answers on the following ----- the creator's of the website/exchange(thieves), the posers' of the name "staff" (idiots/hackers/kids/theives), location(s)(housing locations and all relative locations in the past xx years), name(s), age(s), and all related/relative(s) phone number(s) to reach them at. I think I may start a "People's Service," soon for all the victims of theft. Basically, if it touched the site or directed anything public related at the site since opening....the name will be mine.
I have to go now, suiting up for an Apache Mission.
P.S. - I was given an estimate of three days before a call back. I will then post more info on the situation.
glad i dont have a lot of coin to be withdrawn - something is not right
I still have some pending transactions but today I received a part of my withdraw after a short time of waiting.
The IDs pending are 1612, 1614, 1616, 1618.
Thanks for all the work!!! Pmtocoins is a trustable organisation and Shahrukh is really solving the problem.
The IDs pending are 1612, 1614, 1616, 1618.
Thanks for all the work!!! Pmtocoins is a trustable organisation and Shahrukh is really solving the problem.
How much did you receive?
I received 0.1 BTC but it showed me that he is willing to pay me and its only a matter of time
how long does it take to withdraw... been waiting days - and when i go to the support chat the owner is never there...
Admin Please I need to withdraw my balance
Pending Balance: 5.87130402 BTC
I've been waiting over a week already, I'm losing faith
HELP PLEASE
Pending Balance: 5.87130402 BTC
I've been waiting over a week already, I'm losing faith
HELP PLEASE
Sorry mate, you'll have to join the queue.
Admin Please I need to withdraw my balance
Pending Balance: 5.87130402 BTC
I've been waiting over a week already, I'm losing faith
HELP PLEASE
Pending Balance: 5.87130402 BTC
I've been waiting over a week already, I'm losing faith
HELP PLEASE
I still have some pending transactions but today I received a part of my withdraw after a short time of waiting.
The IDs pending are 1612, 1614, 1616, 1618.
Thanks for all the work!!! Pmtocoins is a trustable organisation and Shahrukh is really solving the problem.
The IDs pending are 1612, 1614, 1616, 1618.
Thanks for all the work!!! Pmtocoins is a trustable organisation and Shahrukh is really solving the problem.
How much did you receive?
I still have some pending transactions but today I received a part of my withdraw after a short time of waiting.
The IDs pending are 1612, 1614, 1616, 1618.
Thanks for all the work!!! Pmtocoins is a trustable organisation and Shahrukh is really solving the problem.
The IDs pending are 1612, 1614, 1616, 1618.
Thanks for all the work!!! Pmtocoins is a trustable organisation and Shahrukh is really solving the problem.
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