Thank you all for your replies.

I am not sure if my coins will be returned or not. I am unaware if my coins where in cold storage or not?

As this is a considerable amount of money It might be worth my while looking down the legal route? If anyone has any information regarding this it would be greatly appreciated. The owner of the website is James Gray and he lives in Canada Edmonton.

Flexcoin have lost 9.55 of my bitcoins. I have tried to contact them but have had no response yet.

What are my options? What can I do?

Thank you in advanced for you help

Thank you SgtSpike and lassdas for confirming that Intersango is not trust worthy, happy to say I did not get burnt on my 1 transaction with them, but I wont use them again and I certainly wont recommend them to my company!

Thank you for the reply SgtSpike, yes I completely agree, either or both supplier/customer would need to also adopt BitCoin in order for this to have any benefit. I also understand that today's BitCoin economy would be unsuited for the company I work for. However I do think as the future of BitCoin and its economy evolve there could be cost saving options for businesses that will be hard to ignore.  I'm personally of the opinion that if businesses as a whole accepts Bitcoin, this could change the way we look at modern payment systems. For example, we receive overseas payments in BitCoin and pay overseas suppliers in BitCoins. Those transactions wouldn't have any fees attached to them, you would only need to convert your nett profit into your local currency to pay, employees and tax ect. I know it is not that simple, there is the issue of trust, fluctuating prices of currency ect. But its certainly food for thought.

I promise you Matthew I am not stalking you :p We will have to put it down to coincidence this time. Interesting point you make about the market in Asia, what options are available for Asian countries to cash out in there local currency? I would assume not many. But if BitCoin continues to grow, I would assume this gap in the market would be fulfilled.

Here is something I read earlier on BitPay's website:
"Bitcoin will reinvent the way business is conducted around the world.

Paying workers in India, paying suppliers in China, and receiving a payment from Argentina can all be accomplished instantly, with no risk, for very little cost."

That's exactly what my MD will want to hear!

Thank you for the reply Danny, your comment has just come in and echoed what I have just typed "As bitcoin adoption grows, you may find that suppliers or customers begin to express an interest in using bitcoin for payment. As bitcoin adoption grows, you may find that suppliers or customers begin to express an interest in using bitcoin for payment." You made a valid point of being ahead of our competitors, something every business is trying to do.

Thank you MoonShado, I used Intersango to purchase my first BitCoin, so I am familiar with them. I have also herd a few condemning reports of this company as well, but I don't know how much truth there is to that. I think BitPay or a similar service would be better initially, they accept payment in Bitcoin and convert it to GBP and make the payment into your bank on the same day. This way we can accept Bitcoin without having to really do any legwork with currency exchanges. But of course there is a fee to use BitPay's services.

Thank you all so much for your feedback, really pleased that the BitCoin community is so thriving.

Hello all,

First of I will start by telling you that I have been an infrequent user of Bitcoin for about 6 months now and I am new to this forum. I do have a OK grasp on the Bitcoin concept and understand how to mine, trade, use Bitcoin.

OK, every month one member of the office has to "present" an idea or a product or anything that they have seen that has some relevance to the company. No prizes for guessing it is my turn and I have chosen Bitcoin as my topic.

I'll give you some background information about the company I work for so you can understand what will be relevant: I work for a relatively small UK based company (about 15 office staff). But we do trade a lot overseas, both import and export and we have a relatively large cash flow. We mostly buy from Asia (paying our suppliers with USD) and selling our products within the UK (selling in GBP) and Europe (selling in either EURO or GBP). So you can see that as a company we are constantly swapping between different currencies to process purchase orders and sales orders.

Multiple overseas ingoing and outgoing payments and exchanging between 3 currencies cant be cheap. But I'll be 100% honest here, I don't work in accounts and I don't know what these fee's are. However if there is someone with more information on this, I would be very grateful for any information shared. My theory that trading through Bitcoin could be more cost effective.

So my question to all of you users with more Bitcoin knowledge than myself is: How would a business like the aforementioned benefit from trading in Bitcoin? What are the cost savings for trading overseas (both importing and exporting) in Bitcoin rather than using more traditional methods (banks)?

Thank you for taking the time to read my post, I will be happy to answer any questions that you might have.

P.S my presentation is only going to be a 10-15min power-point slide show, so I'll just be explaining what Bitcoin is and how it could be relevant to my company.

Lee Wright