Topic: BitMarket.Eu has closed down - page 15. (Read 204055 times)

@vv01f: Thanks. The FAQ will be placed on Bitmarket.eu site when it's reopened. I hope in this week.

Just to announce this in public:
M4v3r gave me access to the address by securely releasing the private key into my hands. The formerly stored coins had been removed some time ago, so it was blank.
The final deal was: I get the key and the debt (~2BTC) is null. So I gave up any right on those formerly "lost" coins.

Thanks for now, I am looking forward to more information on the new site. And I second the proposal to make a new clean thread for this.
Perhaps the repeatedly asked questions should be summed up as FAQ in the first post of this thread or better on bitmarket.eu as soon as it is back online.

Wow, you totally nailed it. Now we just have to wait for the 1 BTC to cost 10000 EUR.
Nobody expected that the price of BTC will skyrocket in 2013. It's a lottery, it could drop down to 2 USD again. As a matter of fact, it still can. And if it did, everyone would cry that they want the EUR version. It's just unreasonable for me to pay whatever the current value of BTC, because it changes every hour.

big gangsters -> zypern affair
small gangsters -> bitmarket.eu affair

lol

From nobody. Nobody will pay you in BTC. They have already stated that!

They shall wait until 1BTC=10000 euro. Then with just a small part of the stolen BTC they will repay their debt in euros at BTC/EUR exchange rate in December 2012. This is their "bail-out" plan. Until that happens they shall take salaries from the new website.

as i understood, i can wait for my 2btc from who ?

sorry i was in meetings the whole day and could not react here in the forum, therefore just for clarification:


The investment money is of course not used to pay frozen coins DIRECTLY in any way, it is used to develop a new service. But this is simply the pre-requisite that would help Maciej to pay back the damage inflicted from losing OUR and your frozen coins.

As indicated earlier in the main post, we are still dicussing ways how there might be possibilities to let passive investors participate somehow, but this is a)  legally tricky and b) usually not in the interest of investors who invest new money out of their own (private) savings. If anyone has an idea how this could work in the framework of a german Aktiengesellschaft, just let me know.

These are no bad intentions, this is just the result of an in-depth analysis we did in our (public) meeting in Helsinki. This meeting was btw VERY constructive and of course the whole original purpose of why we met to discuss the reopening the site is to reimburse the damage that comes from frozen coins. This is why all the new management of the new site will work hard every evening besides their main jobs to make this happen while we do not even get salary for that.

And: This solution gives Maciej a fair chance to work hard on this new project for a decent salary so he can make this reimbursement happen.

In that sense of course the projects are indirectly connected (but legally separated). In case the new project fails the reimbursement fails. In case we can make this happen, we all can profit in case the new project is successful:

-Investors might get a profitable site in the future
-old bitmarket.eu users might get their damage reimbursed, as ONLY BY STARTING THIS PROJECT (unless someone has a better idea) we can provide a way for Maciej to pay debts back and
-Maciej, as he can really earn his reputation back and get out of the mess by his own hands and get a 5 star project done
-The bitcoin community, as we want to develop a good trading site that is better than all others.


Please give us all a chance, we promise hard work but it is impossible to create miracles

Thanks @M4v3R!

I think the biggest and most important part of the old site are the USERS!!!!
If the new site will integrate them (with good conditions) this would be the best start up!

@xyz: You misunderstood. The goal is for bitmarket.eu users that lost Bitcoins to get the full amount back (valued in EUR as of day of the announcement that the money was lost). Martin will share more details about that in near future.


It's not only the source code that lets you build a Bitcoin platform. There is so much more to it than that. Especially, if you want to build something entirely new.

Nothing. I believe the source can be found on GitHub for free. Just wanted to know what the price is, because mralbi isn't willing to tell us?

Nope, he wont be using it for trading anymore:
What is so special about the source?
Bitmarket isn't that complicated at all, off course there will be some unseen security measures, but those have proven not to be enough anyway 

Except that now, after you have sold the source to a competitor, your chance to repay any debt beyond proceeds from source sale is zero!

As far as I understand you intend to continue to operate bitmarket.eu and in the same time be an advisor to a direct competitor bitalo.com! Isn't that a conflict of interest?

I want to buy the source as well. What is your price?

I am a little bit confused too...
I had in mind that all customers with holed-on or frozen coins from bitmarket.eu will be ( in a certain way) partner of the new site. That seem not to be true any more?!
If I understand right the cheated costumer from bitmarket will have NOTHING from opening a new site, they will only get a little bit money back from what the old owner "earns" by selling the site code?
I hoped that at least all old customer would get any kind of  "free" selling or dealing their bitcoins for "lifetime" at the new site and earning a little bit if there is a profit! Seems that my intention was very wrong?!

So to sum things up:

-The new site has nothing to do with Bitmarket.eu.
-Frozen bitcoins will partly payed back by M4v3R by selling the the code of Bitmarket and some consulting and that's it.

Which means investing new money in the new site doesn't bring us any closer to our frozen bitcoins, so you better start a new topic for that.
We only get a very small percentage of our frozen BTC back and after the consulting, M4v3R's part of the job is done and no more frozen BTC will be payed back anymore?

Frozen coins are still my responsibility, they have nothing to do with the new Bitalo project.

For handling frozen coins and repaying the debts, Bitmarket.eu website will be used. This week the site will be reopened with trading functions removed and its sole purpose will be letting me communicate with all debt holders and giving them access to their records (transaction history, total "on hold" balance and repayment records).

How will my frozen coins be handled?

if the on hold coins are not all the same in which basket are the 1009 (7105 btc) to date non-responders end up?
I am awaiting some unrelated news before converting a Maple Leaf into bitalo. what does the alo stand for?

well, actually not, the "passive investors" and "cooperative" become the same, as for technical reasons we need to put 50.000 Euro of NEW money into the cooparation. it is not possible to bring in frozen coins or whatever non-existing thing. This has also to with the latest hacker attack, which losses would propably be reimbursed first.

Passive investors can still become active investors by investing additional money so in that sense they would be preferred.

Also the other options would stay, it is simply Maciej who would stay responsible to pay back coins, also for obvious reasons that there is no way in taking over old debts.

Since there is a entirely new corporation with limited shares being formed the whole issue of cooperative, partly cooperative, non-cooperative becomes irrelevant. bitmarket.eu is bankrupt and us such all on hold coins are the same.

Yeh i will invest 1oz gold coin in the new side.

The new site will be independent of old one, so you will have to register again. There will be a way, per user request, to transfer your reputation to the new site though, so if you made several successful transactions on Bitmarket they will show up on Bitalo, so you will have a trust credit right on the start. Bitalo.com will have a rating system, so this will be very helpful to buyers and sellers.