Nah.  The project I just finished involved producing complex documents.  In another few weeks I won't even remember what half of that stuff means and next time I have to do something similar I'll have to look it up in my reference materials.

I'm a bit horrified to find that I understood your post.

To be honest, I've often wondered whether English was your first language because your syntax is very unusual for a native English speaker.

This isn't related to connections with Solidcoin but the digging I've done over the last few days has convinced me that there's no chance that Ken is going to suddenly up and disappear. 

You're welcome.

Solidcoins are listed as one of the products you're offering on your Facebook page (so are IXcoins and i0coins) .  You might want to change that before launch if that information isn't up to date and accurate.

Bruce is asking on Twitter whether anyone has any good photos of the Bitcoin conference.  He says that an "important national magazine" wants them.  While we all know Bruce's propensity for hype, it would be kind of worrying if any significant media did run a story linking Bruce and Bitcoin.

Can you post an infographic showing Coinabul's links to other Bitcoin entities when you get a chance, because I'm getting as confused as hell about the overlaps.

There actually isn't a registration record for Cryptoxchange, although the parent company - Kenseycol Pty Ltd - was registered in 2009.  

This is one of Ken's other ventures.

http://www.ccrsoftwareshop.com/web-development.html

This one is also probably him.

http://orangebusiness.com.au/site/index.cfm?did=859184&module=BUSINESSDIRECTORY&pageMode=indiv&action=details&page_id=116774

Please don't turn all Bruce on us.


I don't think that using a generic registration address is damning in and of itself.  It's actually pretty common in a lot of places for businesses to use the addresses of their accountants or lawyers as their "formal" address, especially if they don't have actual offices.  There are also lots of businesses which sell shelf (and sometimes shell) companies and sometimes the details don't get changed when they are sold.

This one is probably a "wait and see" - it's not like there's any kind of urgency for people to use new services the minute they open for business.

The "About Us" button on the website doesn't have a link attached.

That's not how it was originally used.  

http://www.wordorigins.org/index.php/more/285/

It's my perception too that the last thing the Occupy movement is seeking is less oversight and regulation.

I'm not seeing how Bitcoin offers any ease of regulation now or in the future.

Step 5 is the sticking point for a large number of people.  Their day to day living expenses need to be paid in their local currency and getting paid in Bitcoins would mean having to withdraw the coins from their wallet and sell them in order to obtain the cash to pay their bills - with the added risk that the Bitcoins will have dropped in value between the time the employer sends them to the account and the time the employee sells them.

It's hard to sell people on something which is actually more complicated than what they're currently used to and which adds extra layers of inconvenience to their lives. 

In many locations that information is intended to be public so that people can find out who they're doing business with at law. 

It's possible to form business entities in locations where that information is not freely available to the public, but in doing so you need to understand that people may choose not to do business with an entity which makes no information about itself public.

I think he was referring to it being 404, which is the error number when the DNS of a website doesn't resolve and it can't be contacted not to how often Mark posts.

The Technocash accounts were frozen because money from stolen credit cards was laundered through the MtGox accounts.


It's absolutely standard procedure for Australian financial services providers to freeze accounts without notice under such circumstances - they can get into deep shit themselves if they don't - so I have little doubt that MtGox is telling the truth about why the accounts were frozen.  I'm not sure that MtGox entirely understood just how tough Australian AML and CTF laws really are though and the measures they needed to have in place to minimise the possibility of their accounts being frozen in the first place.

The Technocash freeze could pose an interesting problem.  Technocash's terms of service specifically state that if they are requested or required to assist law enforcement or other authorities in investigating suspicious activity on user accounts, they can charge the account-holder a "departmental assistance fee" equivalent to the hourly rate charged by liquidators and that they can deduct that fee from the balance of the user's account without notice.  Them doing so could mean that when the balance of the account is eventually released to MtGox, it may no longer be sufficient to cover the total user deposits the account contained when it was frozen and Gox may need to make up any difference out of their own reserves.

My observation is that MtGox has often rushed to adopt new payment options when things have gone wrong in the past and I suspect that they haven't always taken the time to clearly understand everything about the foreign environments in which they're operating and how local regulations might apply to their business.  I've seen them use the "we told them upfront about our business but they closed our accounts anyway" line more than once now (they used it regarding the French banks too), suggesting that they don't really understand that risk monitoring is an ongoing process for financial services providers and that those providers will take action in accordance with any changes of perceived risk even though that information is explicitly stated in the terms of service of financial service providers.

Adam gave a relatively lengthy explanation on reddit which addressed how their AML verification process came to fuck up so badly.  My personal viewpoint is that they knew they'd have to verify a large volume of accounts and they should have hired dedicated staff for that purpose rather than letting those 1000+ emails sit in Mark's inbox until someone got around to dealing with them, but not acting until something reaches crisis point is typical of how MtGox has reacted in the past.  They seem utterly unable to foresee potential problems and incapable of acting quickly to resolve them when they occur - and that suggests that the resources at their disposal are frighteningly limited.

You forgot

- Australian user funds in Technocash currently frozen