Topic: Confused About Coinlab Plan (Read 2663 times)

I'm guessing they're proposing to let folks use their mining hardware for other number-crunching instead. Might make sense for miners whose rigs are getting too long in the tooth to turn a profit, assuming they can pay enough.

What the fuck is this - it doesn't make much sense to me.

What the fuck is this - it doesn't make much sense to me.

I believe there would be needed some special software for that... I'm starting to get worried about this Coinlan deal... they're all over the place, trying to do everything at once.



What the fuck is this - it doesn't make much sense to me.

So this means if you are running mining software someone can basically be renting out your computer as botnet...huh?

The Bitcoin network is the largest distributed computation cluster in the world. We help it's members provide their computation ability to the highest bidder.

CoinLab's technology can access that computation for other tasks.

In brief, we’re slipping our date back probably a couple of weeks, but are almost ready for the alpha list. Read below for more details.

What’s working:

    Gox APIs (work the same as ever)

It would be very interesting to know exactly how their 'cold storage' arrangements are. The question is, can we trust them ?

Hello,

First off -- Wow! Thanks for all the support. We’ve received so many positive comments, notes, calls, you’ve been great. That makes us happy. We owe you all a bunch of updates and answers to some common questions.

In brief, we’re slipping our date back probably a couple of weeks, but are almost ready for the alpha list. Read below for more details.

Status Update

We’ve transitioned two major customers over as of a couple weeks ago. Things are going smoothly with them, and so we’ll be sending out invites to everyone on the Alpha list shortly.

What’s working:

    Gox Website (looks the same as ever)

    Gox APIs (work the same as ever)

    Depositing to Silicon Valley Bank (details will be on your account page)

    Withdrawing by wire from SVB (details will be on your account page)


What’s coming soon:

    Customer Support through the Gox ticketing system

    Dwolla deposit / withdraw

    CoinLab Terms of Service acceptance on Gox


What’s coming later:

    We’re working a plan with Gox that may end up allowing them to hold the ‘hot wallet’ coins and leave cool and cold storage in our secure environment. We’ll know more soon.

    Alternate forms of payment / withdrawal

    Better UI at Gox


Next Steps

Once our Terms of Service are up on Gox, we’ll send out a link to you. Click that link, accept the ToS, and we will get you ‘transitioned’ shortly thereafter.

I anticipate we’ll be able to send out the link in the next few days; we’re just waiting on some integration efforts on the Mt. Gox website.

If that transition is smooth, we’ll push the button for everyone shortly thereafter. If it’s not, then we’ll take our time to make sure we’ve got it right, and keep up the communications.

Thanks for the support, and the patience!


Peter Vessenes and the CoinLab team

An email was sent out earlier this week (I'm guessing to anybody who had signed up for beta?).  They have hit some delays, which are pushing back the 3/22 date a few weeks.

An email was sent out earlier this week (I'm guessing to anybody who had signed up for beta?).  They have hit some delays, which are pushing back the 3/22 date a few weeks.

Some of the features I use stopped yesterday.  I assumed it was related to coinlab stuff.

MtGox did not sell users identities, and acted in the best interest of its users to ensure CoinLab had no access to said data.

None of users private information will be shared with CoinLab until the user accepts CoinLab's ToS on the site. If you choose to never accept CoinLab's ToS, then your data will never be shared with CoinLab.

Some of the features I use stopped yesterday.  I assumed it was related to coinlab stuff.

Some of the API's aren't working directly from MtGox this morning.
...

If there are delays, then there are delays. Updating the webpage with estimated dates to reflect this is the cheapest part of the entire process. Is there other info somewhere else?