Am I the only one who notices the irony here that it took 3 years for Bitcoin to crawl back to governments to handle their issues for them?
What does Bitcoin have to do with the problems between a company and its customers?
Topic: [Payout Updates] Bitcoinica site is taken offline for security investigation - page 67. (Read 156693 times)
June 07, 2012, 08:13:17 AM
What does Bitcoin have to do with the problems between a company and its customers?
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June 07, 2012, 08:10:17 AM
I think it is time to bring some sort of accountability to the bitcoin world. It is not even about the money at this point, and those familiar with our company know we have the deep pockets and the infrastructure to make it happen.
Am I the only one who notices the irony here that it took 3 years for Bitcoin to crawl back to governments to handle their issues for them?
We have a large sum in Bitcoinica as well, and as such, I am entitled to an opinion here. I believe however ridiculous this situation looks, these guys are here to stay. Give them time and stop barking. Call in the big dogs when they run away, not when they're working on it. As for all the people claiming they can't get ahold of anyone, I have yet to see anyone saying they've called someone. It's always emails, and emails to a server that has been hacked.
June 07, 2012, 07:59:07 AM
I know as much as Zhoutong really.
That's pretty disturbing. While zhoutang not being privy to everything that is going on behind the scenes is understandable, it's hard to think of any positive reasons why you would be excluded from the loop.
Who the hell does know what is happening and when are they going to announce how user funds will be returned? This appalling lack of communication isn't just damaging the image of Bitcoinica - it's raising serious doubts about the competence of "The Intersango Guys" in general and tarnishing the reputations of their other business ventures.
+1000
This situation is ridiculous. Genjix, can we get a name of someone who does know more? And can you let him post here, or let him inform you so you can post his information here?
June 07, 2012, 07:48:50 AM
I know as much as Zhoutong really.
That's pretty disturbing. While zhoutang not being privy to everything that is going on behind the scenes is understandable, it's hard to think of any positive reasons why you would be excluded from the loop.
Who the hell does know what is happening and when are they going to announce how user funds will be returned? This appalling lack of communication isn't just damaging the image of Bitcoinica - it's raising serious doubts about the competence of "The Intersango Guys" in general and tarnishing the reputations of their other business ventures.
June 07, 2012, 07:32:05 AM
Zhoutong please tell Genjix (Or perhaps Genjix is reading this himself) to post _at least_ daily:
I know as much as Zhoutong really. I try not to post unless I'm sure what I'm saying is correct or meaningful.
Then who does know more?
And why can't there be approximations being given to us?
We want to see _progress_
June 07, 2012, 07:25:48 AM
Quick recap: Genjix can't do anything or say anything, Zhoutong is still employed and has access to our money but can't touch it. The investor said it's up to Bitcoinica consultancy to handle the refunds. Noone else has taken responsibilty or given any meaningful information. Zhou and Genjix - WHO THE FUCK IS RESPONSIBLE for the payouts??
Or are you all planning an extended trip to the Bahamas?!
Or are you all planning an extended trip to the Bahamas?!
June 07, 2012, 06:48:53 AM
Zhoutong please tell Genjix (Or perhaps Genjix is reading this himself) to post _at least_ daily:
I know as much as Zhoutong really. I try not to post unless I'm sure what I'm saying is correct or meaningful.
June 07, 2012, 06:12:02 AM
Please refrain from legal action just a little while longer. There are too many drawbacks to legal action at the moment, we should only use it as a last resort. I still trust Zhoutong, and as long as he's still giving meaningful updates that it's going the right way, it's best to wait.
Legal action:
-Will destroy the company
-Cost quite a bit, giving us less
-The stance taken towards BTC is unclear. We're not sure we will ever get any BTC back this way.
Zhoutong please tell Genjix (Or perhaps Genjix is reading this himself) to post _at least_ daily:
-The current ETA to the first payouts
-Number or percentage of accurate claims
We want to see progress being made, and numbers will tell us just that. It shouldn't take you more than 5 minutes each day, but could potentially save you thousands or perhaps even tens of thousands dollars of legal costs. Stop being incompetent and start acting!
Legal action:
-Will destroy the company
-Cost quite a bit, giving us less
-The stance taken towards BTC is unclear. We're not sure we will ever get any BTC back this way.
Zhoutong please tell Genjix (Or perhaps Genjix is reading this himself) to post _at least_ daily:
-The current ETA to the first payouts
-Number or percentage of accurate claims
We want to see progress being made, and numbers will tell us just that. It shouldn't take you more than 5 minutes each day, but could potentially save you thousands or perhaps even tens of thousands dollars of legal costs. Stop being incompetent and start acting!
June 07, 2012, 05:16:15 AM
Iam on the upper site with 300 btc? 
June 07, 2012, 05:11:41 AM
Good News:
I have found that Bitcoinica has already identified more than half of the claimed amount as "accurate". Most likely refunding process will start soon.
It's also important to note that they started from high-value accounts, which means that it may take more time to verify the smaller value accounts (much larger number of accounts for the other 50%).
I have found that Bitcoinica has already identified more than half of the claimed amount as "accurate". Most likely refunding process will start soon.
It's also important to note that they started from high-value accounts, which means that it may take more time to verify the smaller value accounts (much larger number of accounts for the other 50%).
June 07, 2012, 04:47:07 AM
I have 6,325 BTC and 53,244.35 USD in bitcoinica. I will join forces with AurumXchange. I want MTGOX CODES for each TODAY or I will prosecute to the full extent of the law.
Maria.
Maria.
Just exchanged 3,000 BTC. Everything is working smooth now. Makes me wonder, Why MTGOX does not offer instant LR payouts? Great Job www.CoinExchanger.com
Maria.
Maria.
Good luck.
PS. I can't seem to locate your claim. Where should they send the money to?
June 07, 2012, 04:06:14 AM
I have 6,325 BTC and 53,244.35 USD in bitcoinica. I will join forces with AurumXchange. I want MTGOX CODES for each TODAY or I will prosecute to the full extent of the law.
Maria.
Maria.
Any open positions?
June 07, 2012, 01:49:41 AM
Sorry to interrupt,
I bet folks around here are clever enough to figure out ways to solve this outside regular court systems.
Given the lack of respect they have for the affected people,
Are there any assets that could be targeted or temporarily withed that could accelerate the pace of the conflict resolution ?
If they can't see any profit out of this mess at least they'll foresee an hedging strategy.
I bet folks around here are clever enough to figure out ways to solve this outside regular court systems.
Given the lack of respect they have for the affected people,
Are there any assets that could be targeted or temporarily withed that could accelerate the pace of the conflict resolution ?
If they can't see any profit out of this mess at least they'll foresee an hedging strategy.
June 07, 2012, 01:24:27 AM
You quoted me incorrectly. 
My apologies. I hate how the forum nests quotes by default. Fixed now.
June 07, 2012, 01:10:54 AM
Bitcoinica will not want this either, so they will respond maybe with some useful information. If they do not, then its clear that legal action should be taken.
Whether group litigation is the most appropriate form of legal action depends on whether there are any "deep pockets" plaintiffs. If there is no insurance company involved and the company has no substantial assets, it's not generally a cost effective way to recover money. Even when exemplary damages are awarded, the awards tend to be low - from memory, I think the largest amount of exemplary damages by an NZ court was under $100,000. And even when costs are awarded, it isn't actual costs but a proportion of them as determined by a formula used by the court.
Issuing Statutory Demands may be a cheaper and quicker alternative. From the time a Statutory Demand is issued, they have 10 working days to dispute the debt or 15 working days to pay the debt after which the company is deemed insolvent and creditors can apply to the court for the company to be placed in liquidation. The company has only 14 days to file notice of intention to defend the liquidation. If the company's defence fails or they don't file one, the court appoints a liquidator to take control of the company and ensure creditors are paid as required by law. Unsecured creditors are at the bottom of the list when it comes to receiving payment, though.
June 07, 2012, 12:53:31 AM
You think they would be able to at least cross reference the bitcoin deposit #XXXXX and return everything and forget about 80 percent...
June 07, 2012, 12:52:35 AM
I have 6,325 BTC and 53,244.35 USD in bitcoinica. I will join forces with AurumXchange. I want MTGOX CODES for each TODAY or I will prosecute to the full extent of the law.
Maria.
Maria.
Dang, that's no fun. Good luck...
June 07, 2012, 12:45:49 AM
I have 6,325 BTC and 53,244.35 USD in bitcoinica. I will join forces with AurumXchange. I want MTGOX CODES for each TODAY or I will prosecute to the full extent of the law.
Maria.
Maria.
June 07, 2012, 12:41:42 AM
this is bad business I don't think bitcoinica will survive if they can't keep us updated, why would I trust them if they can't even give us a fucking update...
Their modus operandi and Occam's razor would suggest that Bitcoinica has no plans to stay in biz.
June 07, 2012, 12:39:46 AM
Any company director owes fiduciary duty to his shareholders to attempt recovering lost money. If no amicable way available, legal route, unfortunately, is the only method left.
At the very least once legal papers are served, Bitcoinica hopefully will have more clarity on how much exactly they need to pay and to whom.
At the very least once legal papers are served, Bitcoinica hopefully will have more clarity on how much exactly they need to pay and to whom.
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