Congrats on the new job and all but with your attitude I'm not surprised you ended up in the emergency room twice for being assaulted on the (previous) job.

The best way to sell something is 1) to have something to sell and 2) sell it at a competitive price. This 500K upfront without a product is not the way to do it. Come on HashFast, you can do better.

Wow. I completely missed this thread. Kudos to DarkEmi for salvaging the OP.

Note: I made another copy (with some formatting improvements) here.

Also, although I don't agree with everything in Donald's post - I do appreciate the time and effort he put into this.

The timeline and references are very thorough and I'm happy he is finally letting his voice be heard.

Now please help the liquidator liquidate this thing so we can all leave it behind us. Please.

Why did hashfast just delete that post with the letter from uniquify.com?

(Meanwhile... difficulty reached 31,256,961)

I have a LS and replaced the 92mm fan with a 100mm SilenX fan. Also replaced a 120mm fan with a Silenx equivalent and disabled the other. Running an open box (Actually I mounted the BFL board in an open mini-ITX case). System has been running rock solid <70C for the last 3 weeks now and doesn't make a sound. (Most of the noise is coming from the BFL power brick at this point). Overall power consumption is ~130W.

Question: How many Bitcoinica customers have received their money back?

Answer: 0

Why? After all it has been well over a year since Bitcoinica locked customers out of their accounts claiming that all withdrawal requests would be honored.

Imho, the key reasons are these:

• 1) No backups: Bitcoinica was holding over 1M USD in customer deposits but did not bother to create a backup. As a result they lost all their customer data.
• 2) No responsibility: The VC set up a limited partnership with themselves as a limited partner (to avoid liability) and the Bitcoin Consultancy as the general partner. However the Bitcoin Consultancy never finished the formal paperwork establishing this fact. When things went south both parties simply walked away, leaving their customers completely screwed.
  

Since the beginning of this year a NZ court appointed liquidator has been responsible for getting depositors their money back (or what is left of it). Before the Bitcoinica partners walked away they send most of the customer deposits into an account at MtGox. So far MtGox has been unwilling to hand over the account to the liquidator claiming it would be against their 'privacy policy'. Despite numerous attempts from the liquidator to comply they have not succeeded. What happens if MtGox goes belly up? Well it ain't going to be pretty and will leave the Bitcoinica customers in an even deeper hole. (Liquidation in a liquidation? we must go deeper)

In the end I feel MtGox will end up being the biggest thief. The hacks amount to perhaps 30% of customer deposits. MtGox can simply hide behind their lawyers and privacy policy to keep the rest. For them it is just a waiting game. The Bitcoinica liquidator is burning through whatever USD balances were left on the Bitcoinica NZ bank account (at the expense of customers of course). And when that runs out before the end of the year I suspect they might just throw in the towel. The only alternative would be for the depositors to sue MtGox (Throw good money after bad and feed the lawyers), or hope that the Cartmell suit will have a positive outcome that results in regaining access to the Bitcoinica account on MtGox. Unlikely.

I really hope there will be some kind of happy ending to this disaster. For most Bitcoinica users it has been a long and painful journey that exposed the worst aspects of the Bitcoin community. I guess most depositors have given up at this point, which seems exactly what the other parties are counting on. As for me, I'd like to beat this dead horse one more time (since it is only playing dead).

I received my 30 GH/s miner 2 weeks ago, and it has been mining perfectly fine since. Sure, I had to wait for over a year and it was not fun seeing the difficulty go exponential in 2013, but at least it is here now. I guess I got lucky since I will likely be able to make most (but not all) of the bitcoins I invested back.

But let's face it, most users in the BFL queue at the moment will never make a profit by the time they receive their unit. And that is likely the reason that all sales are final. So while BFL is not a scam, most customers are screwed anyway. Bitcoin mining is a race against time and most people bet on the wrong horse.

I'm guessing at this point either botnets or unreleased GPU miners are scooping up all the coins.

Regular CPU miners appear sidelined, even with their optimized builds.

Gox is also still holding all the Bitcoinica funds hostage. The court appointed liquidator has been unable to withdraw these funds (tens of thousands of BTC) for at least 7 months exposing all depositors that are still waiting for their money back (1+ years later) to additional delays, more legal fees and additional counterparty risk. Way to go Gox.

There is no innovation in TimeCoin. Don't waste your time on it, this coin will be dead in no time.

Just pay the 5$ per month for this service. Don't be greedy, It is worth it.

I'm getting between 13-52pps with my single droplet so finding a single block will likely already pay for itself. No need to put the good folks @ DigitalOcean out of business. Lets make this a WIN WIN for both.

I'm saying 25% for AM max. Kinda like you can buy a subsidized cellphone that is SIM locked to a specific carrier. The ASICMiner datacenter is a single point of failure for AM.

After reading through this topic, I wonder if it is not possible for ASICMiner to sell subsidized ASIC mining devices that are firmware locked to mine 25% for ASICMiner and 75% for the buyer.

This way hardware can be cheaper and ASICminer will not be tied to a centralized location. Better for the Bitcoin network, better for ASICMiner, and better for the miners (assuming the devices can be sold at at a 25%+ discount). Possible?

Tipped/Donated.

Perhaps, but you are forced to participate in it (which sucks if you are not on top). That is, until Bitcoin came along. We have a choice now.

That would be a share price of ~25 BTC. Given that there are 400K outstanding shares that would be 10M BTC. Or nearly every BTC ever mined until today. Not going to happen

Volatility in Bitcoin doesn't really faze me anymore. I'm long and I'm buying. See you on the other side.

Come on Phin, BFL is far from perfect but this is just spreading FUD.

Yes, I was surprised too

Have not mapped it to anything yet though & would love to hand it over to friedcat.



http://explorer.dot-bit.org/n/90125