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2.01944825 BTC missing, unable to withdraw, status 'Requested' for weeks now.
Has anyone (individually) started any legal actions yet? I want to write a letter of default and take this up with my legal aid...
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If you haven't done already, read up on the pastebin post. Even though things may look dark now, according what I read there FairCoin actually might have gotten lucky due to the suspended and recovered servers: This was worrying because the old servers still held roughly 1,000 BTC worth of altcoins that failed to migrate to Ryan’s “V2” of Mintpal and the servers were about to be re-purposed, meaning the private keys of all those altcoins would be erased with no way to recover them.
I had to make a quick decision, so I paid off the unpaid bills of the server retrospectively and brought the servers back online, removing Ryan’s access. I reached out to Ryan requesting him to hand over the control of Mintpal so we can take it from here and set up a withdrawal process for the recovered coins. Note that Michael and I were the ones who paid the entire cost of Mintpal acquisition and ever since finding out the true identity of Alex just a few days ago, Michael agreed to transfer all his shares to me making me the majority shareholder. Mintpal was a lost cause for us at this point with an unknown amount of bitcoins lost. We had also discussed a motion to disassociate ourselves from Alex and his scam during a skype conversation that followed shortly after learning Alex's real identity but no paperwork was completed to that effect. Following the recovery of the altcoins that failed to migrate to V2, I figured that at the very least, we can try to ensure that customers are refunded those coins, and perhaps even try and see if there is any way to salvage MintPal from this mess with external cash injection to cover the missing funds.
How Faircoin might have gotten lucky with this? We are missing like 25million coins... Lucky will be the one that stole them. If I understand it correctly, and as Enric partly pointed out: - The FairCoins in MintPal v1 never transferred to the hoax that we now call MintPal v2. - The server containing those wallets suspended and mr Ryan could not reactive them with his flaky creditcards. The whole thing got blocked. - The guys from MintPal v1 revived the server on time before it got wiped and secured the altcoins. Supposedly they are in safe(r) hands now. Maybe I'm being enthousiastic here, but I call that lucky in comparison to the whole BTC story... and mintpal v1 have around 14.200.000 Faircoin they can not do the withdrawal by theirselves, because the last users in withdraw will not have faircoin
So that's about 28% of the total FairCoin volume accounted for from MintPal v1 which will hopefully return to the rightful owners. While typing this I still shake my head in denial; I just still can't believe/understand why people put so many coins in a exchange... |
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If you haven't done already, read up on the pastebin post. Even though things may look dark now, according what I read there FairCoin actually might have gotten lucky due to the suspended and recovered servers: This was worrying because the old servers still held roughly 1,000 BTC worth of altcoins that failed to migrate to Ryan’s “V2” of Mintpal and the servers were about to be re-purposed, meaning the private keys of all those altcoins would be erased with no way to recover them.
I had to make a quick decision, so I paid off the unpaid bills of the server retrospectively and brought the servers back online, removing Ryan’s access. I reached out to Ryan requesting him to hand over the control of Mintpal so we can take it from here and set up a withdrawal process for the recovered coins. Note that Michael and I were the ones who paid the entire cost of Mintpal acquisition and ever since finding out the true identity of Alex just a few days ago, Michael agreed to transfer all his shares to me making me the majority shareholder. Mintpal was a lost cause for us at this point with an unknown amount of bitcoins lost. We had also discussed a motion to disassociate ourselves from Alex and his scam during a skype conversation that followed shortly after learning Alex's real identity but no paperwork was completed to that effect. Following the recovery of the altcoins that failed to migrate to V2, I figured that at the very least, we can try to ensure that customers are refunded those coins, and perhaps even try and see if there is any way to salvage MintPal from this mess with external cash injection to cover the missing funds.
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Is this a new exchange? Never heard of it. It started march this year actually and has been running fairly stable ever since  Comkort is not a very large exchange volumewise (maybe they should do a bit more promoting  ). It does support a lot of different coins though (403 markets in total, BTC, LTC, DOGE). Here's their ANN post: https://bitcointalk.org/index.php?topic=550598.0 |
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 FairCoin has been added to voting list at Comkort exchange! Vote FAIRHopefully we will get those FairCoins back soon. Maybe by that time we'll have support from Comkort as well so people can split their coins over multiple exchanges. We're TOTL on Comkort now. Hopefully they'll add us even before sunday https://comkort.com/vote#FAIR |
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seems to be good news. They do mention fair Yes, there are good news, we are going to the last stage for getting the mintpal faircoins  On the other hand: "We are continuing to process withdrawals, the people who have take over the MintPal Twitter account have no current association with it." https://mobile.twitter.com/moolah_io/status/524971558960627712Like um whut? |
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FairCoin has been added to voting list at Comkort exchange! Vote FAIRHopefully we will get those FairCoins back soon. Maybe by that time we'll have support from Comkort as well so people can split their coins over multiple exchanges. |
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Not so fast! I am in touch with one moolah ex-worker, and he/she has said to me: I got in touch with the current MintPal stakeholders, and it appears that the faircoin balance is on the servers which Ryan allowed to expire due to a non-payment. The current staff are working towards getting these servers back up, and transferring the balance across.The situation in detail is explained by this ex-worker here http://www.reddit.com/r/dogecoin/comments/2jnhxt/this_is_the_person_i_know_as_ryan_kennedy_and_my/http://pastebin.com/VYpQ5CWAThe most important as a summary, is that currently Mintpal is not a Ryan/Alex Green thing anymore, and that the main stakeholders assisted by the old mintpal managers (from V1) are trying to restore all the pending withdrawal. In the case of the information that left pending in V1, they are working in restore the servers from V1 that contains the information of faircoin balances. Hope we can get our FAIR back. Anyway, do we have any other place to trade FAIR? |
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This is the reply i got from Marc @Bittylicious: Hi, I hope all is well. Faircoins don't (to me) seem particularly innovative but at least it's not a totally pointless coin. I've created a new help page on how to get an altcoin added. It's not trivial and is based really around relevant teams having a suitable supply of sellers and minimum volume requirements. It'll probably put you off, but it's at https://bittylicious.com/help/index.php/How_do_I_get_my_altcoin_added_to_Bittylicious%3F Thanks, Marc The requirements are a bit harsh and I doubt it we can live up to them in the current phase of the project: A deposit of the equivalent of £200 (in BTC) which is refundable in the following ways:
50% if the first month's sales is greater than £5,000
50% if the first three months' sales is greater than £20,000
Your coin being sold 24/7 on the Bittylicious platform. This means that at least one seller must be online 24/7 (or trading using an automated client).
We reserve the right to remove your altcoin from Bittylicious if it does not generate sales greater than £20,000 in the first three months.
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The economist Silvio Gesell (Silvio Gkesel) in his book "Physics Class" argues that when the money does not circulate but hoarded the economy falters. On the contrary, when as many people as possible, in their hands to consume as much money as possible, the Economy -and consequently the society-have healthy growth and prosperity. So i have an idea of a type of money that always is moving.
The fairest coin possible it will be existed only online. 1 coin (or share) online and 0 coins offline. It would be a fair share of global wealth. A really democratic coin. For example:
There are 5 persons with 5 shares. 1 share=1000$. Total=5000$
Person A buys something from person B and pays 50$. So now A has 950$ and B has 1050$. Next time A and B are online they ll have (950+1050+1000+1000+1000)/2= 2500$.
If 4 people are online they ll have (950+1050+1000+1000+1000)/4= 1250$ etc...
Would it be possible to work?
I find it an interesting methodology, but there are some serious problems with an 'person' being in a state of 'online'. One of the major arguments might be what the definition of 'online' means. When am I online? Most of the internets is asynchronus. Eventhough I'm writing this, bitcointalk doesn't know if I'm online or offline. I have a session, which expires after x time. But that's it. Another interesting point is the definition of a Person. What is a person? We've seen this with the distribution of both FairCoin, EFL and NLG - it is really hard to stop people from abusing the system... You cannot define one person (and giving them a piece of the pie) without the interference of the governance. The most probable link to an (tax paying) individual is his or her social security number. So that means you cut out like what, half the population? |
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Still having troubles with mintpal?
More having trouble with the trouble MintPal is having with the BTC wallet: The following daemons are currently undergoing a rebuild / reindex. Withdrawals will be processed once complete.
BTC
I reinstalled the darn BTC wallet myself a few days ago when MintPal went OoOooOoO. It has been syncing the blockchain for about two days now and I'm still a year in the past. At some point this will be a problem where FairCoin (and any other Crypto) might have to worry about as well - a freakingly large unsyncable blockchain of d00m. How do you guys handle this? Just download the complete blockchain from the interwebz? |
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Any response from Bittrex yet regarding the email you've sent? Hopefully we'll see some more fullfillment of the bounty once payday has passed haha. In the meantime, there's vaultex  Yeah! But someone ate all the buy orders  Now there's a gap between 2599 and 100 satoshi I wish I had my BTC from MintPal. Then atleast I could setup a nice buy wall again (always graving for more FairCoin... ) |
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Any response from Bittrex yet regarding the email you've sent? Hopefully we'll see some more fullfillment of the bounty once payday has passed haha. |
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So .. i sent an email to Marc from Bittylicious. https://bittylicious.com/Bittylicious is a trusted site (i traded loads with them), you don't need BTC to buy other coins from Bittylicious, and they accept euros. Let's hope he give us the chance of trading there. The more emails he receives this days asking to add Faircoin the better. But is not only about asking to add it, it is also to let him know that he will have enough sellers, he won't consider adding any coin without at least 5 sellers i think. So if you guys go ahead and send them an email, please also mention that you have plenty of coins for sale. Hope it goes well and we get a chance! Well, that 'becomming a seller' part is a bit of a problem I think See: https://bittylicious.com/help/index.php/Seller_OverviewTo be a seller you need to have to integrate with your banking environment or be able to check every x hours. Afaik automatic integration is only possible for business accounts. I don't mind sending him an email, but I don't know what good it'll do w/o any sellers |
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Still no faircoin  Things are looking pretty serious. The Syscoin devs started legal actions against Moolah due to 750 BTC theft. https://twitter.com/syscoinimho, he he did the right thing! Readed up a little; it looks like they've used Moolah to set up an escrow fund to be used for presale. Why on earth would they do that? Atleast I now understand why they've choosen to make it that big of a media circus... I'd say a notice of default would do and start working on the procedure on the background. But since it's community money, you have to make a lot of noise... On the other hand; thou shouldst know better before storing 750 BTC in an exchange w/o access to your private key... |
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Moolah is investigating the problems regarding FAIR:  so it is better wait to withdraw? To be honest, I don't have a clue: - It is great that they are investigating the problem and hopefully they can merge the two symbols. - You might not even be able to succesfully withdraw, since they are still sorting out the problem. - If you had both a balance in FAC and in FAIR, it might not be smart to withdraw now because their system may not handle multiple withdrawls correctly. - I can't get a response from Moolah - they are litterally swamped with complaints, threats and problems. There's no way we can get through. |
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