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Metro Bank might be too small for Intersango's operations imo. Metro Bank started in 2010 and only has 10-12 branches to date, yet Intersango did about $1-2 million USD worth of trades during the month of June 2012. Any guesses as to how many bank transactions where done between Intersango & Metro in June?
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Well, either we are not getting all the details or the regulators have a shitstorm ahead of them.
What shitstorm? They've sent a sort of "cease and desist" letter to Leandro, who, not wanting to get screwed, complied. The fund is over, and that's it. There's nothing "ahead of them". My point is if Leandro hasn't broken any Brazilian laws then he shouldn't back down, even with a "cease and desist" letter. If he was in the USA then definitely drop the word "Investment" from the name, in my opinion, or change it to something silly like cyberinvestments, vaporshares, whatever... "The corrupt fear us. The honest support us. The heroic join us." - Bitcoin Magazine |
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So we just let a 17 year old kid steal $500,000 from us and do nothing?
Kids don't bear responsibility for their deeds. That's not true. In a deliberate and planned theft of half a million dollars, he would be charged as an adult and probably spend 2-5 years in prison. Probably more than 5 years... -Conspiracy to intentionally cause damage without authorization to a protected computer is punishable by up to five years in prison. -Intentionally causing damage to a protected computer resulting with a loss of more than $5,000 is punishable by up to ten years in prison and a $250,000 fine. -Possession of more than 15 unauthorized access devices is punishable by up to ten years in prison and a $250,000 fine. -Aggravated identity theft is punishable by an additional two years in prison on top of any sentence for the underlying crimes. This is just some or the possible charges in the U.S. alone. And if the prosecutors can prove money laundering and/or aiding and abetting criminals or terrorist groups then it could get really ugly. If this is the case then imprisonment in Guantanamo Bay Detention Camp is on the table. |
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Offer Zhoutong/Bitcoinica to return every satoshi from every Bitcoinica "hack" plus an equivalent match donated to the Bitcoin Developer Project in exchange for all charges dropped and no jail time.
It seems like Zhou Tong has been inspired more by your signature line. +1 LMAO |
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Offer Zhoutong/Bitcoinica to return every satoshi from every Bitcoinica "hack" plus an equivalent match donated to the Bitcoin Developer Project in exchange for all charges dropped and no jail time.
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[WTS] Brazilian Warcraft CyberInvestment Group Shares [WTS] Brazilian Warcraft CyberInvestment Group - Weapons Index ETF [WTS] Brazilian Warcraft CyberInvestment Group - WoW Gold Trakkers [WTS] Brazilian Starwars CyberInvestment Group - Lightsaber Futures [WTS] Brazilian Diablo III CyberInvestment Group - Auction House Binaries  Coming soon, virtual funds for every MMO in existence and websites hosted from every sovereign nation just to keep you busy CMV!  Well, either we are not getting all the details or the regulators have a shitstorm ahead of them. |
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I also expect these audits delayed.
For example, there is finance audit request by community. I pack data into zip archive with password and password is released only after 1-4 weeks. Otherwise, imagine situation:
There is one big account short on bitcoin - let's say 40K BTC. Everybody see it and trying to do short squeeze - pushing price higher to force liquidation.
LOL, I agree. It would suck to make that public info right away. A public "Short Interest" report once every 1-4 weeks without individual account identity is more than enough. Edit: Btw, community requested audits are more about the exchange itself and general operations rather than about their customers. Edit2: BTC-e's BitInstant Reserve balance clearly displayed on their website ( https://btc-e.com/) is a good example of some transparency which doesn't reveal customer info. |
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For the auditing tools, I was assuming high ethical standards by auditors and the customers' private info isn't easily compromised.
It's more to:
1. Prevent situations like the Tradehill-Dwolla backdating mess (Why did Tradehill take months to look at their balance and compare numbers?).
2. Better customer service response time (because paper trails are king in this area).
3. Making SQL Injection attacks more difficult to carry out (it's possible many customer claims from the Bitcoinica fiasco are lies).
4. Help in eliminating FUD posts.
There's probably a 1,000 better reasons.
The exchange owners have good reason to follow CYA (Cover Your Ass), they are high value targets. Anything to help them out would be heaven sent imo.
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I have no opinions on BS&T, Pirateat40, or Vandroiy but....
10,000 BTC donated to a charity of the forums choosing would be great, especially if it's a Bitcoin related project (I'm not sure if these projects qualify).
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Just wondering if anyone else had some issues, my sell order seemed stuck and kept recurring as executed and the high price went from 8.63 to 8.71 but didnt show on btcchart. A little hickup maybe ? Anuone else ?
Hello uuidman, Some of the data feed sites (i.e. ClarkMoody, btcchart) get stuck every so often. Most of them have some kind of warnings, for example: "Do not assume this data to be 100% accurate or write trading bots that rely on it."-BitcoinCharts.com Assuming your sell order was @8.63 and the high price of 8.71 was executed after your order was on the MtGox books then your order is filled. Are you confirming your trade thru MtGox? Do you have an order entry timestamp for us curious folks? |
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I'm not sure which thread to ask this question but....
While testing Limit Order entries on the website an additional .4% is added to the trade size. For example, a "Sell: 1 @8.50" changes to "Sell: 1.004 @8.50". How does this work exactly?
I thought the liquidity rebates where in USD and if so, why is the order size increasing?
It is a glitch with the limit order calculator interface which happens when you tab out of the field instead of clicking out of it. I will get the issue resolved. Liquidity rebates are indeed in USD as you are expecting. Ah, I see. Thanks for the quick reply, Shtylman |
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I'm not sure which thread to ask this question but....
While testing Limit Order entries on the website an additional .4% is added to the trade size. For example, a "Sell: 1 @8.50" changes to "Sell: 1.004 @8.50". How does this work exactly?
I thought the liquidity rebates where in USD and if so, why is the order size increasing?
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The information changes all the time and the call to fetch it is not authenticated.
What bothers you exactly ?
Okay, so Bitcoinica wasn't actually logging in (authenticating) every 5 seconds. I guess that's the part that gave me the "Deer in headlights" confusion.  Thanks for clarifying this for me, davout. |
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Yep, to fetch the orderbook and compute their ticker buy and sell prices. Considering that all this data is available from MtGox, Intersango, and most exchanges with no authentication required... Is there an advantage to authenticating 17,280 per day to collect the same public information? |
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Hello Andrew Vorobyov,
Automatic Database Backup: I'm not sure if this should be a feature but backing up data at regular intervals would be nice to prevent another Bitcoinica scenario.
Auditing Tools: Every transaction should be easy to audit for the operator, whether it is a trade, order update, funds transfer, etc. This might also reduce the burden for independent 3rd party auditing and transparency.
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http://www.networkworld.com/news/2012/072312-bitcoin-260946.htmlBitcoin: Seven reasons to be wary By Maria Korolov, Network World July 23, 2012 07:00 AM ET "But aside from its status as a technical marvel, it has little practical benefit for business users or consumers. " The seven reasons given: 1. Nobody has to accept it. 2. No critical mass. 3. No switching costs. 4. There's nobody to police it. 5. There's no real need for it. 6. It's volatile. 7. BitCoin is unfair.
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Who owns GoDaddy?
According to Wikipedia it's owned by KKR, Silver Lake Partners and Technology Crossover Ventures. |
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Total Exchange Traded Volume* (June 2012): | Exchange | Volume | Market Share | | MtGox | 1,552,237.73 | 67.88% | | Intersango | 183,954.06 | 8.04% | | BTC-e | 150,166.36 | 6.57% | | VirWox | 92,035.00 | 4.02% | | BitStamp | 63,346.69 | 2.77% | | BTCde | 50,354.75 | 2.20% | | VirtEx | 33,762.49 | 1.48% | | Camp BX | 32,317.86 | 1.41% | | CryptoXChange | 28,814.11 | 1.26% | | BitFloor | 23,270.28 | 1.02% | | btcEx | 22,332.20 | 0.98% | | BTC China | 14,514.48 | 0.63% | | Bitcoin-24 | 13,011.26 | 0.57% | | BitMarket.eu | 11,671.26 | 0.51% | | Mercado Bitcoin | 4,077.19 | 0.18% | | Bitcoin-Central | 4,017.88 | 0.18% | | Kapiton | 3,025.22 | 0.13% | | BtcTree | 2,013.53 | 0.09% | | bitNZ | 914.18 | 0.04% | | Vircurex | 394.97 | 0.02% | | The Rock Trading Co. | 283.15 | 0.01% | | Imcex | 120.10 | 0.01% | | Ruxum | 91.16 | 0.00% | | ICBIT | 4.55 | 0.00% | | | | | Total | 2,286,730.46 | |
* data from bitcoincharts.com; includes all currencies. Other charts at Bitcoincharts.com: Volume Comparison Charts. |
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strange there is nothing popping up on google about it. Anyone check the CA server, etc? Is it a fluke or Dwolla being hacked or what?
Sounds like the "disruptor" is getting disrupted.  Dwolla hasn't commented on Twitter either, their last comment was about 1 hour ago. |
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