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A user had some problems with a dividend payment and we needed to bring the site down in order to resolve it.
Sorry for any inconvenience, and thank you for your patience as we deal with this issue.
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I will be monitoring the support@glbse.com email address and the forum, but I can't really fix anything as I am neither qualified for such tasks, nor do I have access to any of the internal GLBSE systems. shared forum accounts with no names. does nobody use a name anymore (even a pseudonym would be better!) ColdHardMetal runs this account. Now you know as much as you did before  The support@glbse.com account is temporarily being shared while Nefario is on the road. |
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Nefario is currently on his way to China for a few months. While he is in transit he will be unavailable to handle support problems for approximately 48 hours. I will be monitoring the support@glbse.com email address and the forum, but I can't really fix anything as I am neither qualified for such tasks, nor do I have access to any of the internal GLBSE systems. We have put in place the ability to attend to hot wallet issues while he is traveling. If you have any problems just email support@glbse.com as you normally would, or post in this thread if you want to I suppose, and I can prioritize tasks for when Nefario is back in action. Thank you for your patience should any issues arise during this period. |
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The bug has been fixed and the site is back up.
Our apologies for any inconvenience this may have caused.
And more importantly ... has anyone lost money ? while the exchange course fell and could not react? possible. Not the kind of loss I had in mind. Rather has anyone stolen any money using the API flaw. Everything looks accounted for in my books. What likely happened was that the API allowed for negative values in the number of shares to be bought or sold. The BTC volume of the trades in question was less than 2.5 BTC. Any accounts affected have been compensated for any losses that occurred. stochastic is correct. There was an API problem that allowed negative inputs which has now been corrected. No theft occurred, and no accounts were compromised. |
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The bug has been fixed and the site is back up.
Our apologies for any inconvenience this may have caused.
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We discovered a bug in the API that was causing some inputs to be processed incorrectly. The affected trades will be rolled back, and we are currently fixing the problem.
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We have noticed some trades of the USD asset coming through on the twitter and IRC feeds with negative share numbers. Obviously this makes no sense so we have brought the site down temporarily while we investigate the cause.
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Over the last week or so we have received a few messages from asset holders who believe that an issuer is in some way in violation of their asset contract. We have no interest in adjudicating these kind of disputes, nor do we believe it is our role/responsibility to do so.
However, it does seem like there should be some mechanism where asset holders can raise grievances they may have.
To that end we thought it would be good to start a discussion here to see what the community thinks would be an appropriate way of handling this type of situation.
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As the subject says, there may be some periods of downtime today while we perform some maintenance.
Sorry for any inconvenience this may cause.
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We should be back up now.
Thank you for your patience.
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The site will be back up shortly.
A user's account was compromised because their login details had been acquired outside of the GLBSE system. As we couldn't be sure this was the case immediately, we brought the site down until a thorough investigation could take place.
2-factor authentication would have prevented this from occurring, and we would encourage all users who have not activated that feature to do so.
We again apologize for the downtime, but feel it was well warranted in the circumstances.
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At this point we don't believe the issue is on our end, but we are continuing to proceed as if it is until we are more confident in our assessment. As a result this downtime will continue for now. Sorry for any inconvenience.
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Our apologies, but we had to bring the site down for a bit while we investigate a potential problem. It will be back up as soon as possible. Please bear with us as we check things out.
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GLBSE is pleased to announce the release of an updated and improved user interface for the exchange. We hope this will improve the user experience for all of our clients moving forward. As part of this update we will be requiring all that existing users and new registrations read and acknowledge acceptance of the Exchange's Terms of Service. To thank our users, and to encourage you all to try out the new platform, we are also announcing 2 days of commission free trading, ending at 4:00am UTC on May 3rd, 2012. Lastly we are giving notice of an amended fee schedule for use of the exchange, which will be implemented at 1:00am UTC on May 8th, 2012. Fees will be as follows: An 8 BTC fee for listing of a new asset. A 0.4% trade commission on both the buy and sell side of a trade. A 0.2% fee to directly transfer an asset between accounts. This transfer fee is not applicable to assets that have had less than 20 BTC of volume since the inception of the asset. This transfer fee will be based on the asset's average traded price over the last 5 days it was traded, or the assets initial price if no trading has taken place. GLBSE is a bitcoin denominated capital market. Inquiries can be directed to support@glbse.com.
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This thread is intended to serve as a dialogue between the GLBSE and its users with respect to what those users would like to see in our TOS. Before taking the step of requiring all users to positively acknowledge their acceptance of our terms, we have decided to continue operating with the current terms we have, while working towards a more complete, and hopefully more permanent, document. To that end please try and keep this thread on topic. This discussion will be spearheaded by ColdHardMetal who, as most of you probably don't know, is the Secretary and Accountant of the investors group behind the GLBSE.
1. The Global Bitcoin Stock Exchange (GLBSE), BitcoinGlobal, its employees and owners, hereafter referred to as "the Exchange", assume no responsibility or liability for any actions by any government, government body, or government agency, against any person, individual, group, organisation, or company, hereafter referred to as "the Users", as a result of using, trading, listing, or issuing assets on this exchange.
2. The Exchange assumes no responsibility or liability for any fraud committed on this exchange, but will do its best to prevent its occurrence.
3. The Exchange assumes no responsibility for the terms of assets that are traded or listed on the Exchange, or for the actions of any of the Users issuing assets that are traded or listed on the Exchange.
4. It is not the Exchange's responsibility to ensure that those trading, listing, or issuing assets on the Exchange are operating according to any kind of rules, regulations, laws, or standards those trading, listing, or issuing assets on the Exchange are subject to in any jurisdiction, beyond these terms of service.
5. The Users of the Exchange take full responsibility for their own actions, and any consequences resulting from those actions. It is the Users' own responsibility to determine the risks involved in depositing funds with the Exchange, creating assets, executing trades, or any other activity or action related to the use of the Exchange, or any of its current services.
6. The Exchange is currently beta release software, and as such the Exchange assumes no responsibility or liability for any losses that may be incurred if the Exchange is taken offline to deal with any problems that may arise. The Exchange makes no guarantees as to the correct functioning of its services until it is removed from beta release, although the Exchange will do its best to ensure it is functioning correctly. The Users use the Exchange at their own risk.
7. The Exchange will make its best effort to ensure that all data on the Exchange is properly backed up in the event of a system failure, or any other event. However the Exchange makes no guarantees. The Exchange is a best effort service and will remain so until it moves beyond the beta stage of development.
8. The Exchange may at its discretion ask asset creators to provide proof of identity, address, phone number, or any other information as deemed appropriate. Said information will be held securely offline and not shared with any third party.
9. The Exchange reserves the right to suspend trading of any asset, or suspend access to an asset creator's account, for failure of an asset creator to provide requested information, or in the event of suspected fraud.
10. By using the Exchange, and any of its current services, the Users agree to these terms of service.
11. These terms of service are subject to change without notice.
April 8th, 2012
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I will work with GLBSE to pay whatever fee is necessary.
Pre-sales were my idea to help sales along.
And that's not a bad idea at all. It just highlighted a potential problem for us that needed to be addressed. Transfers have not been suspended indefinitely, we just need some time to work out the best way to implement them. gigavps' asset issue will move along on time. We're sorry for the miscommunication of our intent here, but getting some dialogue going with our clients about these items is certainly proving to be a helpful process, and one that we will continue going forward. |
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Just to confirm the above. This will be resolved in time for this issue to move forward as planned.
I would also add that we're pretty pleased to see this asset issue taking shape. Our policy reaction wasn't to this asset specifically at all, but it did highlight a potential problem for us that does need to be resolved.
Thank you for your patience and we'll get this worked out.
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It's evident there are some concerns with how some IPOs are potentially going to be handled on the GLBSE, and potential problems with allowing or disallowing the ability to directly transfer assets between accounts without use of the trading mechanism.
There are a lot of good ideas floating around, and it looks like it will be useful to consolidate that discussion into one thread.
Please let us know how you feel this process should be handled and we can hopefully establish some best practices that everyone can be satisfied working with.
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