Bitcoin Forum

well I'm down almost 800 BTC and to me thats alot, and the problem is that you get scam and nothing really happens. Bitcoinica has most of my bitcoins and these fools are not doing shit to return any BTC to anyone and now I'm desperate to get any of my BTC back because I'm in school and don't even have any funds to pay for any of my classes and I'm looking for a job in a very competitive market.  Now its time to start a BTC insurance company where you donate some BTC and hopefully we can get alot of BTC to take legal actions against people that have scam people, I rather loose 10 to 15% of my total BTC then to loose it all and nothing happens. I will never put any BTC to any company now that does not have any history for least a year even if its to good to be true. Too many people are getting away with scamming and all we have is a scam accusation board.  There is already a lawsuit but none of the little guys are getting any of that action.

Or maybe the only way to save your self is to only use mtgox or cavirtex.

That is the nature of anonymity. The social contracts are easily broken. There is no simple solution.

Also, legal action is slow.  Even if there's a community fund for it, people aren't going to get their money back in the short term.  People need to start approaching their Bitcoin dealings with the understanding that if something goes wrong it's not going to be weeks or months before they can recover their funds - it will be much longer.  People need to stop risking money which they can't afford to lose.

If a community legal fund is established, how are you going to determine who gets to use those funds for legal action?  Some claims - perhaps the majority - will not be cost effective to pursue outside of small claims and a judgement is worthless unless someone has the means to pay.

I wish a private detective agency would list their company on glbse and start accepting clients.

You mean a private detective agency working with local efficient 'collection agents'  ;D

Yeah, I think that's the way to go forward.  ;D

Mob rule with teeth. Great idea.

I'm of the opinion that we should have ratings agencies instead that take fees from either clients or the companies they list in order to do audits. They could be VERY small fees because your average scammer isn't going to pay the fee at all.