My claim dating from the Swap's interest introduction has been received, I would be happy to submit it to this arbitration service if Bitcoinica were willing to accept this, http://www.judge.me/I had the same 2 emails re password authentication, I entered it on the claims page & it then changed to: Identification - True (where the password enter box was before). So that seems to have worked OK.  I'm getting the same "Identification - True" text, so I guess it's verified now. Now we wait. Hopefully my funds will be returned to me soon  Edit: A friend of mine just went to the claims page to enter his password, but it already said "Identification - True", while the password box was still there. The "Identification - True" field seems to be whether you said in your claim form that you are ok with providing identification to speed up verification. So I have no idea whether the password I entered was correct or if I made a typo. Hopefully the fact the field is now gone means that it was ok. We'll wait and see I guess. |
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So people that have open position on bitcoinia still don't know what is going on with that... and the price in bitcoins are going up, wouldn't you hire more staff to handle these claims before the price in bitcoins really goes higher... The longer bitcoinica takes the more they lose, and im speculating that bitcoins will be alot higher before I get my bitcoins back.
If they just give people some information, people can hedge their positions. But alas, they aren't giving the information because they haven't decided yet. In my opinion, such a decision should be priority. But then again, who am I decide what's best for them? |
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Fact: Every single Bitcoin that got shorted had to be bought back at a later time.
Fact: Every single Bitcoin that got longed had to be sold back at a later time.
Result of those 2 facts: Bitcoinica's influence on the price can only be temporary. That is a fact. It's net effect will _always_ be zero in the long run.
What Bitcoinica _did_ provide was:
-Temporary downward pressure on rallies, preventing them from getting out of control. This may have effectively prevented Bitcoin bubble #2
-A way for businesses to hedge, protecting them from USD/BTC price swings when dealing in BTC. You don't have to be an economic genius to see the value in this. BTC will never appeal to serious businesses if they can't protect themselves against these kind of risks.
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Zhou repeatedly said that the money is there, so it's probably still there.
Nice to hear from genjix again. Finally, you are on the right track giving information more often. I believe transparency isn't just good for customers, but is in your own interest as well. I'm certain customers would have been much more supportive and understanding if you had tried to explain the confusion a little more, and a little earlier. If I were you, and I hadn't signed any papers yet, and realized I was blamed for something I wasn't even legally involved in at the time, I would have not been the first to take responsibility, either.
Nevertheless, let's get this over with so we can enjoy the summer and won't need to spend the rest of the summer reading this forum. Make Bitcoinica's customers good, even if it's only 80%, send more confirmation emails, give daily updates. Most will be satisfied and remember this as one big investment mistake, we can all go buy some ice cream, sit in a beer garden with public viewing and watch Italy, Spain and Russia make it to the semi-finals.
Couldn't have said it better. Thanks for this post |
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Hey Intersango guys! Could you please start answering some of the questions asked in: https://bitcointalk.org/index.php?topic=84042.0You're risking legal action being taken against you by keeping silent. This will be bad both for you and for your customers, as legal costs will have to be paid. The way Intersango has been handling this whole issue is embarrassing to say the very least. Neither Intersango nor Bitcoin Consultancy is involved in bitcoinica. Some of the Intersango/Bitcoin Consultancy team members are, however posting about that in this thread is wildly inappropriate. I do not think it is wildly inappropriate. What I do think is wildly inappropriate is the lack of communication from Bitcoinica and its partners, while a million in dollars and BTC combined is being held in limbo. What I find downright saddening is the same mistake (lack of communication) being made again, I quote: All further communication regarding bitcoinica will be posted on bitcoinica.com or answer to specific questions from verify@bitcoinica.comResponding to insane accusations and downright defamation is a waste of everybodies time which just makes this all take even longer. All further communication? There's been hardly any communication so far. The last post on Bitcoinica.com is from 2012-05-15 for crying out loud! And people are complaining about lack of responses from verify@bitcoinica.com as well, so that doesn't seem to be a valid way to get any information either. Start communicating! There's plenty of people threatening with legal battles. I think we both can agree that legal battles is the last thing we need, and will be bad both for Bitcoinica and its partners AND its customers. So start communicating, _at least_ on daily basis, and I'm sure many of the rumors will die down, giving you the much needed time to fix this mess. Thank you very much in advance. Ps. I'm sorry for derailing this thread yet again, but I see no other way of getting your attention. |
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Hey Intersango guys! Could you please start answering some of the questions asked in: https://bitcointalk.org/index.php?topic=84042.0You're risking legal action being taken against you by keeping silent. This will be bad both for you and for your customers, as legal costs will have to be paid. The way Intersango has been handling this whole issue is embarrassing to say the very least. Related, when bitcoinica and you guys get sued does intersango risk being shut down or having their bank accounts frozen? How separated is intersango from bitcoinica? I have funds in both places so I would really like to know. Thanks Well, as far as I understand (I'm no expert in this area, so take this with a big grain of salt) The Intersango Guys and Bitcoinica are two separate entities. This means that if Bitcoinica goes down under, they have no responsibilities. However, with the way they are handling this situation, they can be charged with criminal offenses. In this case, they personally are _not_ protected by being two separate entities. How this will affect their other company, Intersango in this case, remains to be seen. |
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Cool story bro,
So where are the refunds?
Hopefully they get done soon I think. One of the points outlined today by Tihan was: "This is what I need from each of you today: 1) A sign of life that the claims processing has begun -- an announcement to that effect and/or actually paying people back ..." So things are moving forwards now after the hiatus. Most people involved are in agreement on what needs to be done. So? Can we have an update on what happened? Tihan said he wanted there to be an announcement or to see people start getting paid back. I'm seeing neither. It's unbelievable how little we hear from you guys. Communication is mandatory! And for the 1000th time: How are open positions going to get settled?We can't even hedge our own freaking positions due to a lack of communication from you guys. I'm glad we still have Zhoutong giving us information. He's handling this a whole lot better than you guys. Too bad he's no longer in charge, or this mess would have been solved already. |
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Hey Intersango guys! Could you please start answering some of the questions asked in: https://bitcointalk.org/index.php?topic=84042.0You're risking legal action being taken against you by keeping silent. This will be bad both for you and for your customers, as legal costs will have to be paid. The way Intersango has been handling this whole issue is embarrassing to say the very least. |
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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. Yes, I agree. Or it will at least be significantly less due to money being spend on legal fights. And this all could have been prevented by assigning someone to provide proper communication between the company and its customers. The incompetence they have shown so far baffles me. |
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Legal battles are to be expected with the way they are handling this.
I'm beginning to become so angry with the lack of communication.
This is just ridiculous. I've never been treated so badly by a company. A company that made good money
off of my trades. I'm seriously at a loss of words about this entire situation. Sigh
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Posting this again, so hopefully we'll get some answers. Cool story bro,
So where are the refunds?
Hopefully they get done soon I think. One of the points outlined today by Tihan was: "This is what I need from each of you today: 1) A sign of life that the claims processing has begun -- an announcement to that effect and/or actually paying people back ..." So things are moving forwards now after the hiatus. Most people involved are in agreement on what needs to be done. So? Can we have an update on what happened yesterday? Tihan said he wanted there to be an announcement or to see people start getting paid back. I'm seeing neither. It's unbelievable how little we hear from you guys. Communication is mandatory! And for the 1000th time: How are open positions going to get settled?We can't even hedge our own freaking positions due to a lack of communication from you guys. I'm glad we still have Zhoutong giving us information. He's handling this a whole lot better than you guys. Too bad he's no longer in charge, or this mess would have been solved already. |
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Why do AML/KYC?
Mt.Gox handles both Bitcoin and fiat currency (Dollars, Euros, etc.) As a result, we are bound by the laws of Japan and America, along with various international regulations which cover the fiat side of our business. Very similar to how a bank in most countries must be regulated to ensure they are not facilitating money laundering, terrorist financing or the like, we are obliged to follow the same rules.
Oh please enough with the state propaganda bullshit. Why don't you tell it like it really is. You are not obliged, you are forced under threat of violence to gather information about your customers so that governments around the world can control what your customer's money is being used for. "Money laundering, terrorist financing or the like" are victimless crimes the state invented as a way to gain even more control over the people they assert their rule over. You can't imagine the angry thoughts that go through my mind when I read bs propaganda like this, I'm pretty sure if they already tried to attack people for thought crime I'd get the capital punishment.  You can't imagine the angry thoughts that go through my mind when I read this bullshit libertarian and anarchistic off-topic propaganda. just because you a little afraid kid, paranoid about the big bad government, that is actually trying to make you safe and comfortable, you don't have to spray your fuck system shit around this forum at all time. +1 Some people on this forum are truly paranoid about anything government related... |
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If u have database, why we cant login and widthraw funds?
That's either an (incomplete) reconstruction or old data used to check if claims are potentially fraudulent. |
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Cool story bro,
So where are the refunds?
Hopefully they get done soon I think. One of the points outlined today by Tihan was: "This is what I need from each of you today: 1) A sign of life that the claims processing has begun -- an announcement to that effect and/or actually paying people back ..." So things are moving forwards now after the hiatus. Most people involved are in agreement on what needs to be done. So? Can we have an update on what happened yesterday? Tihan said he wanted there to be an announcement or to see people start getting paid back. I'm seeing neither. It's unbelievable how little we hear from you guys. Communication is mandatory! And for the 1000th time: How are open positions going to get settled?We can't even hedge our own freaking positions due to a lack of communication from you guys. I'm glad we still have Zhoutong giving us information. He's handling this a whole lot better than you guys. Too bad he's no longer in charge, or this mess would have been solved already. |
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Clash of the walls  |
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Anyway I'm going to avoid posting now, since the technical problems have been resolved, and the remaining things are legal. I've probably made a bunch of mistakes or inaccuracies above as I don't have a complete understanding of this and don't have a legal background.
How many times are you going to make this mistake? Don't stop posting! What do you mean by technical problems have been resolved? Does that mean the entire database has been reconstructed? And if not, how much has been reconstructed so far? |
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Unless their legal advisor explicitly told them not to give any further information on the forum nothing would speak against giving daily updates. Everybody would have been much more relaxed and lawsuits might have been prevented.
Exactly! They are just making things worse for themselves. |
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I know as much as Zhoutong really.
That's pretty disturbing. While zhoutang not being privy to everything that is going on behind the scenes is understandable, it's hard to think of any positive reasons why you would be excluded from the loop. Who the hell does know what is happening and when are they going to announce how user funds will be returned? This appalling lack of communication isn't just damaging the image of Bitcoinica - it's raising serious doubts about the competence of "The Intersango Guys" in general and tarnishing the reputations of their other business ventures. +1000 This situation is ridiculous. Genjix, can we get a name of someone who does know more? And can you let him post here, or let him inform you so you can post his information here? |
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Zhoutong please tell Genjix (Or perhaps Genjix is reading this himself) to post _at least_ daily:
I know as much as Zhoutong really. I try not to post unless I'm sure what I'm saying is correct or meaningful. Then who does know more? And why can't there be approximations being given to us? We want to see _progress_ |
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And let's forget the userbase for a multi-money/currency device will be much larger. This will lead to many more people being exposed to Bitcoin and exposure is key. Once they see the advantages Bitcoin can offer, they will surely consider using it.
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