Topic: [BitFunder] Asset Exchange Marketplace + Rewritable Options Trading - page 19. (Read 129419 times)

Did anybody got verified since the shit hit the fan? Iam waiting like 3rd day and nothing. Iam sure they have nice backlog now with all trying to verify, just asking if anyone was lucky yet.

"Good news".. when a status update for Ukyo.Loan will be posted in "2-4 weeks", redemption requests not honored, no information on G.ASICMINER-PT or redemption, etc, etc etc.

good news. wish u get through the big problem asap

Is indeed good news!

Thanks for the info Ukyo, great news.

WeExchange needs at least 1 government issued photo id.
A seperate option for this will be added soon.

-Ukyo

Yes, actually, don't know if you can say something on this, but my question is about the verification process.

I've made many of this over the years, common practice on any money transmitter service, betting websites, poker sites, and I'm registered on a lot of these.

Usually documents needed, for proving age and residence, are national ID card and a utility bill.

Can driver's license be replaced with national ID card?

Why is there a need for a credit card? It doesn't make sense to me...

I'de like to perform my verification process as soon as possible, but my credit card and driver's license are not as "public documents" as the national ID card is...

Can you somehow obtain a clarification on this?

I got some contact with UKYO. He doesn't run away or something. He is just not free to speak for l.e.g.a.l concerns. Also he is investing in several projects, which is why he couldn't redeem mass redemption request at the moment.

Personally, I believe that UKYO made a hard but brave decision to keep BF running instead of shutting it down, like burnside did. The verification process might be time-consuming and time-consuming. But it is kind of protection for the legitimate investors.
Please show your support to UKYO's effort.

Well, it would be great to have Ukyo online for a little Q&A, he went dark after the announcement...

Don't worry. Eventually bitcoin will be worth enough that the massive bribes necessary for easing regulation on the commodity will be affordable by the new, future exchanges.

which stock does the above refer to?

(copy from the security post)
A proposal to help US investors of this stock:

As we know, this stock, unlike most others, has sound foundation and solid dividend. If not for the BF issue, the share price will be well above 0.0003. US investors, however, have to sell this stock at current market price, which is pretty unfair if they believe the price will rise after everything calms down. They could at least lose much less if they could stay in the market for two to three months.

So how about instead of selling shares at current market price, US investors (or other investors don't want to submit documents) sell a contract to verified investors. By selling the contract, he could benefit a higher return if the share price recovers in certain period.

The contract includes the following elements (amount, current price, target price, expire date, commission). Then the buyer send BTC (amount * target price - commission) to an escrow service, and the seller transfer the shares to the buyer. Once buyer receives the shares, she/he releases (amount * current price) in the escrow to the seller. If the market price exceeds (strictly larger than) the target price before the expire date, the rest in escrow will be released to the seller. Otherwise, the rest in the escrow will be returned back to the buyer.

This proposal has various advantage. First, it's like an option escrowed out of the stock market, so once the contract is sold, the seller can safely leave the BF. Second, the seller does not need to trust the buyer. Third, this is a one-time trading so it is much easier than a private proxy service, which is too complex for an escrow service. Fourth, since this is a one-to-one contract, so there should be much less legal issues compared with a proxy service.

Any thoughts? If you are US investors (or other investors don't want to stay in BF), are you interested in this contract?

There must be some rules in place so it can be fair for everyone.

What do you consider a free market then? A market with regulations?

Fear not, citizen.  The gears of Justice grind slowly, but they grind...
You must realize that size does matter, and the government despots had bigger fish to fry.
But (to keep my cesspool of stale metaphors churning), every dog has his day, and even Pedro pushing bunk bundles eventually gets a ride in the Party Van. 
Now who's that pulling up the drive?

Then we are doomed. The us authorities cannot stop this shit even at home!  Why didn't they close these exchanges a long time ago? I actually though that Bitfunder is not operated from the US. And if it is then I do not see how blocking us customers would mean compliance. Does this mean that the us can export this evil and offer it to citizens of other countries? 

so... what did I learn from GLBSE desaster? Shit, apparently I'm immune to learning.

What will that do?  The owners of BTCT & Bitfunder are both American.  Bitfunder domain resolves to eNom's whois blocker -- a US addy.
Everything's strictly in-house  

A chinese restaurant operating in china, no one sane would call that the US market. Its the chinese market and chinese laws will apply.

But a chinese company doing online sales of hamburgers, drugs, bitcoins or securities to US residents in the US, yes that is the US market and it doesnt matter one yota if its a chinese company doing it,  or if its from any other country.


Allowing illegal exchanges requiring no disclosures, no financial reserves, no safety guarantees, no nothing to compete with legal and compliant one's isnt exactly my idea of fair competition or even of a free market.

I think the solution is simple. The us authorities should just simply physically block all foreign web sites to protect us citizens from the evils out there. Some countries have successfully done similar things although nobody went all the way.