"Mutum Sigillum LLC" that seems to exist only as a kind of money pipe between MtGox (Japan) and Dwolla. Everything that transacts in US$ can be defined as "money pipe". The rules of the game are very simple. It doesn't matter in which country is your business incorporated. If your business is dealing in US$ you have to pay a special tax to the US Government. This tax depends on what other favors you'll do for them. |
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My advice: Find a way to make the core of Bex.io completely decentralized and spread around the planet. (And not just on AWS, either.)
I'd recommend the same. You can still get royalties from supporting the code. Bex.io — own your own Bitcoin exchange I've looked at your website but coudn't find out - what exactly do I own of my Bitcoin exchange and what exactly do you own of it? |
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I guess this is the fallout from the Coinlab lawsuit?
What does Department of Homeland Security has in common with the Coinlab lawsuit? |
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If people are not happy CANCEL YOUR ORDER. Posting continuous back and forth gibberish does nothing good for all. If people cancel their order they get ONLY PARTIAL REFUND. BFL fraudsters are living from robbed money! |
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I think it will come to collaborate and help each other ...
Despite what OpenCoin Inc try to convince you, Bitcoin is philosophically mutually exclusive to Ripple. Do you think that Bitcoin is philosophically mutually exclusive to Open Transaction as well? |
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Ripple™ is a trademark of OpenCoin Inc, a private for-profit company. I am breaking their Terms of Service by using the trademark Ripple without permission. Sue me. Satoshi Nakamoto: The root problem with conventional currency is all the trust thats required to make it
work. The central bank must be trusted not to debase the currency, but the history of
fiat currencies is full of breaches of that trust. Banks must be trusted to hold our
money and transfer it electronically, but they lend it out in waves of credit bubbles
with barely a fraction in reserve. We have to trust them with our privacy, trust them
not to let identity thieves drain our accounts. Their massive overhead costs make
micropayments impossible. With Bitcoin, you hold your own money. You control it. With Ripple, you don't hold money. You hold debt, IOUs. You hold debt issued by a "gateway", a central authority. With Bitcoin, miners are required to use their computational power to earn new Bitcoins and transaction fees. With Ripple, OpenCoin Inc issued themselves 100 billion ripples. They promised to only keep half (50%) for themselves. With Bitcoin, nobody can spend your money without your private keys. With Ripple, as the server source code has not being released and it is still proprietary, OpenCoin Inc can change the rules and spend your money. Bitcoin is v2.0 of money - where you control it in a democratic process via mining. Core network rules are embedded in open source code. Ripple is v1.1 of money - building on top of existing central banks, and fiat money. Learn more: http://ripplescam.org/It is not that simple. The fact that Satoshi seems to be not aware of is that having just a little trust between business counter parties improves their competitiveness dramatically. Yes, trust can be abused but it can last for a very long time before it is finally abused beyond restoration. While trust exists it can smash every competition coming from a system based on lack of trust. Long term business relations without any trust are very expensive luxury. The recent challenges that bitcoin has with blockchain size, single block size, and minimum transaction fees are just early indicators how expensive it'll be in the future to maintain and support such a monetary system. Technically Ripple is a piece of art. Though I'd agree with OP that having a private currency as XRP, that is required to pay for transaction fees, spoils the entire concept. |
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0<12 // true or false? I guess it's true. Nobody can say BFL are liars. Yes, but "more units" >= 2 by default, yes? Yes, but shipment to 2 BFL sockpuppets was announced on April Fool's Day. So again, nobody can say BFL are liars. They just have special sense of humor, yes? |
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0<12 // true or false? I guess it's true. Nobody can say BFL are liars. |
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I am going to re-post or rather copy paste an article from siliconindia here with my question that will follow it LOL. How can I vote for Switzerland? |
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Despite thousands of warning signs that BFL is a scam if you decide to pre-order one of their products always pay by a credit card. NEVER use bitcoins! BFL fraudsters do not honor full bitcoin refunds! https://bitcointalk.org/index.php?topic=136615.0 |
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Then stop demanding hard and fast timeframes for things that we can't give hard and fast timeframes for. Simple as that. Then stop lying people and stop taking "pre-orders". Simple as that. Do you really believe 200 (two hundred) days is a fast time frame? |
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Gotta say it surprises me someone can write a post like the first one in this thread and not be banned from the forums.
It surprises me BFL and people like JZ still don't have a scammer tag on this forum. |
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Really? Please point it out? Or are you lying about that? Somebody is lying for shipment in April. I guess it is quite common lying on April 1st. It is April Fools Day. |
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BFL never priced their products in BTC They did. I have an invoice from BFL with a clearly stated price both in $ AND bitcoin! they never received any BTC for their orders. They did. I've sent bitcoins to the bitcoin address they've pointed me to. I have a screenshot! Nothing different than me ordering things from the US and having my sek converted into usd It is very different. Read something about credit card payment processing first and stop comparing apples to oranges! If I pay $ and my credit card is run in SEK it is MY BANK (I've signed contract with when my cc was issued) that is converting the SEK in $ and IS sending $$. The TRANSACTION currency is $$. This is why refund is in $. While paying in bitcoins the TRANSACTION currency is bitcoins. The refund must be in bitcoins. BFL crooks usually say customers choose to pay through Bitpay. No! It is BFL that choose to accept customer' bitcoins through BitPay! BFL company is a customer of BitPay, not me. I don't have as a customer any contractual obligations or contractual relations with BitPay. For instance, can I pay BFL through the PayPal option, if BFL have such an option on their website, without being a PayPal customer? Of course, I can't!!! I paid the exact amount in bitcoins to the bitcoin address BFL specified on their invoice. It is BFL's choice to use BitPay's service to receive bitcoin payments from customers. BFL customers don't have any control on how BFL handle their bitcoin payments, how much bitcoins they convert in $, and how much they keep in bitcoin. |
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Have they stopped fulfilling refunds or something?
Yes, BFL is refusing full bitcoin refunds while OP said he doesn't care about bitcoin/$ exchange rate. |
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This is a false accusation, totally unfounded (no one lost money). Déjà vu... The owner of Bitmarket.eu says the same to his customers - Your bitcoins are not lost. They are "frozen". I'll repay them whenever I can in euro... at the exchange rate when you sent them to your account with bitmarket. |
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If BFL didn't do it this way, it'd be dangerously irresponsible. They'd be using your pre-order funds to engage in currency speculation instead of producing hardware. What if the value of bitcoins dropped to 1/100 from the time you placed your order, and they were holding bitcoin not USD? Now the (say) $1500 USD you paid in bitcoin is only worth $15 when they convert it to USD to pay their suppliers, payroll, etc. They'd be bankrupt in a moment. And I'm sure history is full of companies that went bankrupt because of a massive overseas transaction + rapid currency movement + lack of hedging.
That's BS! 1. They don't use pre-order money for production because after ALMOST an year they have produced NOTHING! Actually BFL customers are INVESTORS! Read the definition of FTC what is "pre-order" first before writing above nonsense! The maximum period for a delay while pre-ordering is 4 month. When did BFL start taking "pre-orders"? 2. BFL lied they have attracted VC! This is why they used pre-order money to pay their salaries. 3. Taking their customers bitcoins and refunding dollars BFL actually gets free option call to profit from possible bitcoin appreciation WITHOUT paying any premium. No court of law will tolerate such a behavior. 4. History is full of scammers trying to profit from peoples greed. BFL can't go bankrupt because they have promised nothing to their investors (pardon me, pre-ordering customers)! It is irresponsible AND ILLEGAL to treat your investors like that! |
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This is exactly how any sort of purchase in a foreign currency works. You have no idea what you're talking about. Read something about how credit card system works. What is the role of the credit card issuing bank? What is the role of the credit card processor? When you have a credit card account run in euro but you pay usd priced product, YOUR bank is doing the currency conversion for you. You have agreed to this when you have signed the credit card issuing agreement. The credit card issuing bank is converging your euros into dollars and is SENDING dollars. The TRANSACTION currency is dollars! A refund is nothing else but a REVERSAL of a transaction. This is why you get back dollars which are applied back to your euro account at current exchange rate. YOUR bank has a license to exchange currencies! It is regulated to do that! I've SENT exact amount in bitcoin EXACTLY to the bitcoin address BFL asked me to send to. I'm not a BitPay customer. I have not signed any agreement with BitPay. BFL is a BitPay customer. Bitpay is doing currency conversion for BFL as per the contract between BFL and BitPay. When I paid bitcoins for pre-ordering from BFL the TRANSACTION currency is bitcoin. This is why the refund must be in bitcoin, not in dollars. If BFL claim I have sent dollars they must tell what bank dollar account I've used to do that? |
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2. They offer BTC acceptance as a side option. In other words, It's just an exchange service between BTC and USD. They can't offer this option. They have no right to do this! To be "just" an exchange service you have to be "just" regulated as an exchange service... like MtGox, for instance! CASE1. Merchant originally accept 1kg gold for 1 computer deal.
CASE2. Merchant originally accept USD for 1 computer and they have an additional service which is "Take some gold and exchange it to USD" CASE3. Merchant doesn't sell you anything. Merchant just accepted your gold as a guarantee for PRE-ORDERING something! |
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All they've said is that wallets with more than 50 BTC will be handled differently, which makes sense. In Cyprus they've said that wallets with more than 100 000 EUR will be handled differently. Does it really make sense? |
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