So how do i get back that 20 dollars I deposited right before your announcement? Shouldn't have left your account accepting deposits.
As soon as BitFloor realized they were in deep, they contacted legal counsel, shut down the site, and stopped posting here (as I would expect their lawyers to advise them). Prior to this, it is my opinion that they acted in naive but good faith to attempt to address the situation as equitably as possible. I may be wrong and you may disagree, but aside from getting your own legal counsel your recourse is rather limited at the moment. Such are the risks taken when choosing to engage in business with BitFloor.
Topic: bitfloor needs your help! - page 30. (Read 177467 times)
A court will order compensation in USD. They're not going to fuck around consulting creditors about what they want - if credtors could agree with Bitfloor on that, then the matter wouldn't be before a court in the first place.
Not necessarily. I've been a beneficiary in a class action lawsuit in which I was given options about how I wanted to receive settlement. I could opt for a check, or I could opt for a smaller check and some store credit, or I could opt for all store credit (in an amount larger than the check option). I see no reason why I couldn't be given an option regarding Bitfloor of either an ACH deposit of USD or a GLBSE grant of Bitfloor stock. 
The only people profiting from bitcoin are hackers. Fuck this shit.
Correct. I am still a n00b in the bitcoin world only being in it for about a year.
Now the money part I am complete n00b. I let my wife handle the finances.
Now the technical part of bitcoin I am able to understand...
the money part.... not so much
I got burned and that is that.
I didn't mean a n00b about Bitcoin or about money. I meant a n00b about business. If your impression is that running a coffee shop is risk-free, then I would advise you never to open a coffee shop. Now the money part I am complete n00b. I let my wife handle the finances.
Now the technical part of bitcoin I am able to understand...
the money part.... not so much
I got burned and that is that.
it seems likely that BTC sent in AFTER the hack announcement may be set aside in an eventual settlement
What about the people who don't go here. Shouldn't the site have a warning or an e-mail blast? . . .
As soon as BitFloor realized the extent of their legal problem, they shut down the site, contacted legal counsel and haven't brought the site back up or said another word here on bitcointalk (as I would expect their lawyers would advise them).
What is their responsibility prior to their realization of how deep they were? Did they act in good faith, or was there intentional fraud? This is yet to be determined, but my personal suspicions are that they have acted in good faith (though poor security) so far.
Maybe it's not necessary to convince everybody. Let it go to court. Let the settlements be decided. Then give each plaintiff the choice of whether to be paid out in USD or in Bitfloor stock. Ownership in the company would then be divided proportionately among all those who opted for stock. The dollars remaining in Bitfloor's coffers would be distributed proportionately to all those who opted for money. It would be up to the court to decide whether to distribute all of the USD to those requesting the monetary compensation option or to hold back an amount in proportion to the balances of those who opted for stock compensation and then issue a one-time dividend of that remaining amount to the new shareholders.
A court will order compensation in USD. They're not going to fuck around consulting creditors about what they want - if credtors could agree with Bitfloor on that, then the matter wouldn't be before a court in the first place.
Also, before initiating convoluted court cases, it's wise to remember that the legal fees of an insolvent estate come out of that estate and further reduce the amount available for distribution to creditors.
Making money by pushing money around is risky.
You want to take zero risk? Open a coffee shop.
LoL! Spoken like a total n00b! The only risk-free business is borrowing from the Federal Reserve at 0% and lending out at 5%+, and only Too-Big-To-Fail banks get to do that.You want to take zero risk? Open a coffee shop.
Correct. I am still a n00b in the bitcoin world only being in it for about a year.
Now the money part I am complete n00b. I let my wife handle the finances.
Now the technical part of bitcoin I am able to understand...
the money part.... not so much
I got burned and that is that.
So how do i get back that 20 dollars I deposited right before your announcement? Shouldn't have left your account accepting deposits.
it seems likely that BTC sent in AFTER the hack announcement may be set aside in an eventual settlement
What about the people who don't go here. Shouldn't the site have a warning or an e-mail blast? This is kinda like lets post on bitcointalk and hope everyone knows to go read there before sending or god forbid an automated system since they advertized having api for that very reason.
it seems likely that BTC sent in AFTER the hack announcement may be set aside in an eventual settlement
BTC sent in after the hack will be going directly to the attacker.
I know anyone who sends money there is dumb and taking a huge risk but regardless he has zero responsibility in your eyes?
with a proper treatise on the security failure and security architecture plan for moving forward
I wouldn't blindly invest in Bitfloor now. I would need to see that the security of the platform has received an overhaul, and I would need to fully understand it and agree with its competency and adequacy. Then I would invest. I am pretty sure my order did not go through. Just ACH me the amount that I deposited the other day.
Thank you.
Unlikely to occur unless/until BitFloor's legal counsel advises them to proceed. There is a possibility that this will go to courts to determine what BitFloor's liabilities are and how much (if anything) you will get.Thank you.
If my order never went through then the money is still 100 percent mine.
That is bullshit. I have a lot of money held up in this MISTAKE. I am trying really hard not to be one of the bad buys but it is a lot of money. . .
For your sake I hope that the lawyers quickly determine that BitFloor is required to immediately pay back all USD on deposit. Somehow, I doubt that will be the case though.
Such are the risks of handing over your money to an unregulated, uninsured, un-audited company.
it seems likely that BTC sent in AFTER the hack announcement may be set aside in an eventual settlement
The IPO should be for about 300% of the losses so infrastructure can be improved from the start, and at least a partner can be hired (a 1-man exchange is asking for trouble). It all depends on how much do people value a properly operating Bitfloor in the long term. I think 75K+ is fair, maybe 100K+.
+1I think Bitfloor has enormous growth potential. My opinion is that Bitfloor is vastly technologically superior to Mt. Gox, modulo today's failing. I suspect, with a proper treatise on the security failure and security architecture plan for moving forward, Bitfloor could raise enough in an IPO to pay everyone back and resume operations with an improved platform.
So he has no responsibility and anyone who did business with him is just an idiot? I understand that I took a risk with bitfloor regardless you dont think its crap the HE STILL HAS NOTHING on the site about not sending payments to hacked accounts? I know anyone who sends money there is dumb and taking a huge risk but regardless he has zero responsibility in your eyes?
Making money by pushing money around is risky.
You want to take zero risk? Open a coffee shop.
LoL! Spoken like a total n00b! The only risk-free business is borrowing from the Federal Reserve at 0% and lending out at 5%+, and only Too-Big-To-Fail banks get to do that. You want to take zero risk? Open a coffee shop.
The IPO should be for about 300% of the losses so infrastructure can be improved from the start, and at least a partner can be hired (a 1-man exchange is asking for trouble). It all depends on how much do people value a properly operating Bitfloor in the long term. I think 75K+ is fair, maybe 100K+.
+1I think Bitfloor has enormous growth potential. My opinion is that Bitfloor is vastly technologically superior to Mt. Gox, modulo today's failing. I suspect, with a proper treatise on the security failure and security architecture plan for moving forward, Bitfloor could raise enough in an IPO to pay everyone back and resume operations with an improved platform.
He has a responsibility to let people know not to send bitcoin to hacked addresses. We will be back could be server maintenance ect.... I have checked the site all day and nothing so he waiting for how many trades to take place or api trades to take place before starting a thread on bitcointalk.org honestly I think bitfloor is the JR on this one. I'm in business to make money taking a thousand dollar hit on one of the most used trading sites can I really be blamed as feeling uneasy on my fourth bitcoin payment for my services being lost due to negligence.
Making money by pushing money around is risky.
You want to take zero risk? Open a coffee shop.
He has a responsibility to let people know not to send bitcoin to hacked addresses. We will be back could be server maintenance ect.... I have checked the site all day and nothing so he waiting for how many trades to take place or api trades to take place before starting a thread on bitcointalk.org honestly I think bitfloor is the JR on this one. I'm in business to make money taking a thousand dollar hit on one of the most used trading sites can I really be blamed as feeling uneasy on my fourth bitcoin payment for my services being lost due to negligence.
Following from my previous post, here's an interesting idea. Roman Shtylman, please read this and consider...
What if Bitfloor went public on the GLBSE and distributed 100% ownership of the company to the users who lost BTC in the heist, proportionally according to their lost BTC balances. For example, issue ~24,000,000 shares (one share for each 0.001 BTC that was stolen), and distribute the shares proportionately to the users whose BTC was stolen. Then Bitfloor would pay 100% of its operating profits (revenues minus operating expenses) proportionately to its shareholders. The new shareholders could either sit on their newly granted shares, sell them to recoup whatever money they could get, or buy more shares from others who are unloading theirs.
What if Bitfloor went public on the GLBSE and distributed 100% ownership of the company to the users who lost BTC in the heist, proportionally according to their lost BTC balances. For example, issue ~24,000,000 shares (one share for each 0.001 BTC that was stolen), and distribute the shares proportionately to the users whose BTC was stolen. Then Bitfloor would pay 100% of its operating profits (revenues minus operating expenses) proportionately to its shareholders. The new shareholders could either sit on their newly granted shares, sell them to recoup whatever money they could get, or buy more shares from others who are unloading theirs.
So Roman would work eternally for 0% equity? I don't see that being viable.
He would be much better off under Bankruptcy protection.
Following from my previous post, here's an interesting idea. Roman Shtylman, please read this and consider...
What if Bitfloor went public on the GLBSE and distributed 100% ownership of the company to the users who lost BTC in the heist, proportionally according to their lost BTC balances. For example, issue ~24,000,000 shares (one share for each 0.001 BTC that was stolen), and distribute the shares proportionately to the users whose BTC was stolen. Then Bitfloor would pay 100% of its operating profits (revenues minus operating expenses) proportionately to its shareholders. The new shareholders could either sit on their newly granted shares, sell them to recoup whatever money they could get, or buy more shares from others who are unloading theirs.
Nice idea, but what if someone who had a lot of BTC on deposit with BitFloor believes that they have a better chance in the courts than they do selling of shares of BitFloor? How do you convince everybody to go along with your plan?What if Bitfloor went public on the GLBSE and distributed 100% ownership of the company to the users who lost BTC in the heist, proportionally according to their lost BTC balances. For example, issue ~24,000,000 shares (one share for each 0.001 BTC that was stolen), and distribute the shares proportionately to the users whose BTC was stolen. Then Bitfloor would pay 100% of its operating profits (revenues minus operating expenses) proportionately to its shareholders. The new shareholders could either sit on their newly granted shares, sell them to recoup whatever money they could get, or buy more shares from others who are unloading theirs.
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