Thank you for taking the time to read this. I sincerely hope you will take the time and effort to file a criminal complaint against them. The more of us that do this, the faster we will see action on it.
I hate to say it, but I don't care whether they're convicted of a crime. I care about getting bitcoins back. |
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New supply halves and demand stays the same (maybe even increases with the reward drop publicity). I say the price will go up at that time...but will it double?
I think so, then higher yet and then collapse back down to the doubling. Something like that anyway. SolidCon proved this to be true. I am cashing out at $10 for sure ! I'll cash out right around the high of the next 12 months - about $7. |
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You're not going to be able to please everybody, let alone everybody all at once, that much is absolutely clear. So, why not start with what you're most certain of now and then work your way down to the ones that seem fishy. The way things are going, everybody is going to lose because eventually somebody will start legal action, and then a bunch more will join in, all the money will get spent on legal fees, and nobody will get any money back. That will be an absolute blight to the reputation of everyone involved in bitcoinica's management.
Give those who made verifiable claims and are willing to take what they can get as much money as you can so that, at the very least, we don't get taken down with the sinking ship bitcoinica. That's as close to a win as any of you are going to get in this situation as you'll have at least saved a bit of your reputation (when I say "you" I don't mean "Zhoutong", I mean everyone managing bitcoinica).
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If direct refunds are still not an option, can you guys at least send the customer deposits into escrow until this mess is sorted out?
If you trust me personally, I can confirm that at the time of this post, at least 75% of total claimed value (even including the identified fake ones) is present in Bitcoinica's accounts. The team has considered to use a legal settlor to resolve this issue, but some of us believe that the cost is too high for everyone and the settlor may not have the insight to identify fake claims accurately. I guess what's unclear to me is why clearly not fake claims aren't being processed. I filed a claim, then I sent an email with transaction dates and transaction IDs for the bitcoins I deposited into Bitcoinica from MtGox. Additionally, those transaction happened several months ago and the bitcoins I had in bitcoinica were not in any positions. I believe I was also verified on bitcoinica. I can't imagine it being difficult to verify those details. Not only that, I even fudged a bit on my claim in bitcoinica's favor. I'm sure there are others with even more detailed information, and I simply don't understand why those claims haven't been acted upon, even if it's only to return %75 of the verified claim. |
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If you have submitted valid claims on Bitcoinica website, you should expect your refunds directly from Bitcoinica.
That's the thing, Zhou, we don't expect refunds from Bitcoinica anymore. |
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I foresee this happening on a large scale. They will have to deal with 20 plus different attacks. This will not end well. At least they have a good fund for legal defense.
Well that settles it, then. Nobody will get any money back. Ok, everyone who intends to file legal claims on that side of the room. Everyone else, move along, it's over. |
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 I have a LOT of books.  What's that weird looking green square thingy? |
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and its not over yet, my prediction still has till sunday to be proven false Or we can call the obvious now. We've reached a top, and at the very least the market is going to rest for a while, but I suspect we're going to see more people sell and take profits because the liquidity is there. Have you bought in yet? notme is right. I put all the money I had in the various exchanges back into bitcoin some time ago. Most of it is in offline wallets. I just bought 40 more BTCs on MtGox yesterday to play with at GLBSE. I haven't done anything with GLBSE and decided it was time to take a look. |
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I have a code that uses the KJV1611 Holy Bible for a Brain Wallet. I shouldn't have a big problem finding a copy of that anywhere I go. I just hope Tom Hanks doesn't figure it out.
I use the Book of Mormon. Fewer readers. |
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I put my paper wallets in between two sheets of opaque paper and then laminate them and put them in a safe.
Do you own your own laminator and if so where did you buy it? No. A friend of mine has one. But you can get them at any office store. Here's one for $108. There's also adhesive laminating paper, if you don't want to buy a machine. But I prefer having it heat sealed. |
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True. But people can't use them if they don't have them. I still think the number of people holding bitcoins right now is too small to support robust economic activity, and in order to get to that point more people will need to buy bitcoins. Unfortunately the kinds of people who are looking for a safe haven currency tend to be people who aren't going to spend them on products and services. You're probably right. In any event, I'm still not convinced many people are looking to bitcoin as a safe haven currency and I doubt many people will. If a significant number of people do end up moving to bitcoin as a safe haven currency I'm sure we'll know it, because that'll probably induce a bubble, the likes of which have never been seen. |
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It's good that Bitcoin is getting attention but right now the currency needs businesses using it as a means of exchange more than it needs people buying up Bitcoins with their life savings.
True. But people can't use them if they don't have them. I still think the number of people holding bitcoins right now is too small to support robust economic activity, and in order to get to that point more people will need to buy bitcoins. |
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I put my paper wallets in between two sheets of opaque paper and then laminate them and put them in a safe.
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and its not over yet, my prediction still has till sunday to be proven false Or we can call the obvious now. We've reached a top, and at the very least the market is going to rest for a while, but I suspect we're going to see more people sell and take profits because the liquidity is there. |
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Low volume.
2 bitcoins sold for US$ 7.24 inside US.
42 BTC for US$ 5.99 each.
And 16.55 BTC for US$ 6.99.
Still, even considering the fees of transferring money around, he could have gotten a much better deal. |
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Disclosures: The author owns some Bitcoins. Typical pump and dump ? He's a little late on the pump. Maybe he's trying to keep the price up while he dumps. |
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Oh, sorry. I forgot I put that there.  |
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CampBX just shot to $7.24/BTC on low volume.
WTF? Who spent that much on coins they could have bought for so much less? |
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How long before $100M? If the price doesn't change much...20 years or so. |
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Ok, well, here's where you should send my coins:
16pDN85h2aVq7oRMw4pt9kvstmYL4Qscbz
K, thnx.
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