Yeah anyone who blames victims is really off the mark.
So you are saying bitcoins ONLY useful if we never have to trust anyone ever during a transaction? Impossible, and thus bitcoin becomes useless.
Reality does not care if you are the victim. If you are stupid and careless, your money WILL be stolen. |
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I guess the early bitcoiners who manages to survive the hack and theft and scams are the 1%ers.
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Isn't it's weird/stupid that ZT refuses to get a lawyer?
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Threads like this are one of the reasons so many regular people turned away from Bitcoin. No single person has done more damage to Bitcoin than that fucktard Atlas.
O RLY? Where the empirical evidence, yo? |
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Unfortunately that phrase must be a lie. Libertarians are the most selfish pricks on the planet, and proud of it. In fact the enitre Libertarian ideology can be summed up in 4 words "Got mine, fuck you."
Based on experience with other libertarians, that statement is demonstrably false. You must be trying to troll people. |
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And you didn't get a lawyer?  |
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You shouldn't call it a scam based on merely bad security practice.
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I think they're being made scapegoats, and they've tried to deal with it as best they could. You also assume they had the kinds of funds available to them at the time to be able to hire someone else to do PR and claims; unless they use funds from users this is not the case.
Trying your best isn't good enough for bitcoinica customers. Either you perform to the satisfaction of the customers or you don't. But the intersango guys gave up so they get a big fat 0. |
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Didn't you try something like this with bitcoin weekly?
Yes, and it was successful. However, it was a huge hassle to do it manually. That's why I develop a prototype at kibabase.com. Eventually, the code will come back to bitcoinweekly after it's all polished and the kinks are worked out. |
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That's the, err, chaturbate business model. They seem to be doing well with it! Moving to bitcoin does seem an obvious step. Perhaps you should approach them about it?
Not interested. On a technical note - I know you say your server doesn't hold any BTC but you might want to structure it so that the server operator can take a small % to cover costs etc.
Server operator and content provider are assumed to be the same person. Also the web app can't deal with anything more complicated than listing donation address in advance and checking the balance against blockchain.info. |
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If nothing else, a very interesting experiment.
Why would this model be superior to Kickstarter, or the BTC Kickstarter - or the similar sites? Instead of ransoming already-made content, they ransom yet-to-be-made content. Armory dev, for example, did a fundraiser seeking funds to do more dev-work, not have previous dev-work paid for. I'd be interested in seeing how consumers react to that.
I suppose, though, you get the immediate content, and nothing's left up in the air. Once the ransom reaches a certain point, the content's released. It would be exceptionally interesting to see some great artist hold his content ransom to see if he could get 2x what his label or related other distributor would give him over the next five years. Once the content's released, I'd assume it's public domain?
The problem with all these business models is that they are oriented toward one-off projects, like a film project or a music album. Mine is oriented toward regular release of new content along with a smaller ransom goal. This is ideal for someone who's a webcomic artist that add new comic strips on a regular basis. They don't try to build massive hype, but their archive do the hooking for them. This is also how bitcoinweekly works but I got tired of the whole process so I decided to build a prototype on kibabase.com that largely automates the operation. |
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Hi, I been working on a business model idea for ransoming content, using kibabase.com as a prototype site.
How it works:
1. You hold new content and update for bitcoin organized as a "Ransom Bag". Then you count up the ransomed and determine the ransom price.
2. You wait until the donation amount reached the ransom price...OR new content/updates is added
3. If there's enough donation, the "Ransom Bag" is opened and now everybody get to enjoy it.
Also, my server do not use a bitcoind and hold any bitcoin. Instead, my web app use blockchain.info's JSON API to get an answer. This way, even if a hacker broke into my server, they can't steal any bitcoin as there is nothing to steal.
The only thing I need to worry about is somebody tampering with the bitcoin address. This is something I have not developed any countermeasure for.
RIght now, I don't have anything to ransom yet and the site is just a proof of concept.
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Mtgox survived one or two hacks last summer, they've upped their security probably withstanding more attempts since then than any other bitcoin online business. They're DDOS resistant to capacity that technology allows. They've had backups and were able to rollback their books after last summer's hack. And they were one of the first using cold storage for majority of bitcoins on their exchange. I'd say out of amateur company last year they've grew into one of most if not the most technologically solid bitcoin companies today. Other than deposit/withdraw issues mainly due to interfacing with fiat-ruled world they've upheld their reputation as an exchange on high level.
Bitcoinica on another hand? I've lost count have many times it's been successfully hacked into and stolen from, there was some much fail, negligence, hindsight to security that it is not even comparable with Mtgox. Apples and oranges.
MtGox was also hated by a lot of bitcoiners and some forum thread about mtgox raged for 50+ pages, just like bitcoinica. They also have a meme invented against them. It was called being "goxed". However, mtgox survives/resolve the crisis, and people move on with their life, and the hatred, if not mistrust, disappears. Bitcoinica consultancy on the other hand, just utterly fall apart after zhoutong/friend_of_zhoutong stole the money. Only in crisis do people discover the true strength/weakness of an organization and the characters of the people who run it. If an exchange never been through the baptism of crisis, you don't know their integrity. (To be fair, mtgox never have their money stolen by a possible insider who seems all trustworthy) |
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This thread rage on for 82 pages and we're left...with no utility as to increasing the strength of the bitcoin economy.
We can argue whether or not Zhoutong is guilty or not, but at the end of the day, you ain't getting your bitcoin back any time sooner.
(Yes, I am at fault for talking too much instead of doing too)
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It can't be tracked liked credit card or even PayPal transactions I hope it doesn't mean that bitcoin is anonymous by default. |
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do we know _ANYTHING_ about why?
Probably not? |
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No, you just zoom in where bitcoin.org is located.
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who are you going to call when your btc wallet gets hacked for $10,000 of BTC ?
The flip side of freedom is responsibility. |
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@All
The consultancy team failed and harmed a large fraction of the Bitcoin community. I ask you all to boycott all their ongoing ventures e.g. Intersango, the London Bitcoin conference, personal trades, open source projects etc.
The bitcoin team isn't going to simply oppose their source code contribution to the project. Doing so is quite self-harming. Given that the conference is a big chance for the bitcoin community to get together and build business tie and relationship, so to deny going there is self harming. Intersango is a bitcoin exchange among many, so boycotting it doesn't cause much self-harm. We just use mtgox instead. |
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