from https://www.aurumxchange.com/content/privacy

I somehow failed to find any references to Dominica's "Data Protection Act 1998". Is there such a thing in existence at all? Google seems to be completely unaware of it, so are all Dominica's government websites that I could find quickly.

If they mean (or simply mindlessly lifted some UK's website policies) UK's Data Protection Act 1998, which I am familiar with. Then, protection afforded by the act to personal data is rather very significant and most of it simply cannot be contracted out.

Moreover, they have failed in their terms to even mention which jurisdiction their website is operating in (there is some mention of Dominica on AML page, but it is simply not enough). As such it is potentially can be argued, that they are subject to either jurisdiction of wherever their customers are located or that of UK due to most likely reference to UK legal acts in their Privacy policy.

Now this may raise a number of very interesting questions. Additionally I could have go over their legalese with a fine comb and likely find so many inconsistencies that it likely would be enough to bury them in most legal proceedings. Should have hired a real lawyer in proper jurisdiction to draft those terms.

Most of the choices are singularities. I think Bitcoin is a singularity too. Therefore "as revolutionary as most of them" would be my choice.

The daily chart went exponential again.

I would say OP brought up a very reasonable point. I see both Zhou and Amir (whether they are guilty of something or not) as someone who at least have tried to do something to put things right. The other two personages I see as the ones who are actually the most responsible for the matter but who, however, have negligently abandoned their customers and depositors, who have completely ignored their fiduciary duties,  who wisely and egoistically followed "silence is golden" motto and demanded "respect".

I think this is a valid conclusion based on publicly available information.


And here is another absolutely valid point which is kind of undeniable.

It is more likely pump and run.

I betcha someone just anticipates BM #3 in September in book stores on Pennsylvania Ave., Washington, DC; Fifth Ave, NY, Yale, MIT, Penn State, 600 other locations. Once all the senators and professors and students get addicted to Bitcoin there is no telling where it will go.  

Dear Roberto,

  I have very carefully reviewed your complaint about article "The July 13 Bitcoinica Investigation and Sound Justice" http://bitcoinmagazine.net/the-july-13-bitcoinica-investigation-and-sound-justice/ .

  It is regrettable that instead of discussing this matter privately with me as I have suggested previously you have chosen to make this conversation very public. But since such is your choice I am posting here the statement on behalf of Bitcoin Magazine. It is also published in the body of the article and we've made a correction to the article itself.


 I trust that this should satisfactory resolve the matter that you have complained about. Please do not hesitate to contact me should you have any further questions or concerns.

Faithfully Yours,
Vladimir Marchenko,
Executive Editor, Bitcoin Magazine.

Roberto,

 Thank you for your well thought out and reasonable post. I am more than happy to discuss with you privately whatever inaccuracies there might be in the article you quoted and if some specific points were posted incorrectly surely this can be resolved either by publishing your views of this matter or making retraction as appropriate where facts of the matter were perceived incorrectly by article's author.

 I also would like to clear up possible confusion about all those C level titles. As most likely know the company is very small and all those C level titles and functions of team members are rather flexible and the titles should be taken with a grain of salt. For example, I have started as CTO but then had to take over many functions of managing director and operations director as well lately (need to make sure that there are no more shipping delays as it has happened with issue #1). Things do change over time. Likewise, while we hoped initially that Vitalik will act as Editor In Chief, it has not happened for a number of reasons and that function is now with Matthew, however we expect Vitalik to take over Editor in Chief functions again before long. Also it should be noted that functions performed by the team members are different for the company and for the magazine. I am for example listed as CTO for the company and executive editor for the magazine, whatever that means. I find all these loud titles rather superficial considering how small the company is.

Surely we should have paid more attention to keeping about us page up to date. I have now fixed whatever inaccuracies I could find there. As for issue of Zhou's donation to Bittalk Media Ltd. it seems to be just a mistake made by whomever wrote the text for that page long time ago. Perhaps there was some confusion between bittalk.tv website and Bittalk Media Ltd. as a company. Clearly that donation has happened before the company was formed and I became a director of the company as well as a founding member. I have now removed erroneous statement about donation from the "about us" page.

LoupGaroux, Thank you for your posts above as well. I, personally, always enjoyed your posts and agree with you much more often than not. There is one point I would ask you consider however. Given that Zhou is a minor (to the best of my knowledge) perhaps one should be more careful with public criminal allegations. Consider that, for example, in criminal cases in UK names of minors are withheld from public record even for rapist and murderers. I would respectfully suggest that matters of privacy should be managed more delicately specifically when it concerns minors.

This means that they have failed to file "annual return" on time with companies house and pay filing fee of 25£ or so. This often happens with limited companies that have no accountant or have amateurish directors. It takes about 10 minutes to file that return online. Sometimes it is a red flag rising suspicion that they do not intend to continue trading. But more often than not it is just a minor oversight that is easy to fix.

BTW, anyone can pay 1£ to companies house and receive more information on the company, i.e. directors, shareholders, adresses etc...

This is a quick update on status of Bitcoin Magazine.

We have firm date of release of DRM free digital edition of Bitcoin Magazine #1 to our subscribers. It will be done on 6th of August 2012.

We are also working on making Bitcoin Magazine issue #1 digital edition available on various mobile devices including at least iPad and Android marketplaces.

Release schedule for printed and digital issues was altered due to scheduling requirements of our distribution contract with B&N. This was unfortunate and should have been expected, but as mentioned earlier it was our first time releasing something to a distribution company.

We expect issue #2 to start shipping in the second half of August 2012.

We expect issue #3 to be available in some Barnes & Noble stores in September 2012. While we do not have firm data on B&N order yet we expect that issue #3 will have very limited availability in stores, 10 copies or less per store.

Negotiations are in progress to have Bitcoin Magazine on shelves of WH Smith (UK) and Walmart starting October - November 2012.

Thanks to the strong feedback from our subscribers on lost and delayed shipments and helpful feedback about print quality of Bitcoin Magazine issue #1 we have dramatically changed our print and logistics processes. Starting from issue #2 we print Bitcoin Magazine in UK with a very reputable partner and using significantly higher quality paper and print processes. We also have changed shipping process significantly. The changes made shall ensure quick and reliable magazine delivery to our subscribers, worldwide.

The pricing of the magazine has been changed. Starting with issue #2 the cover price for printed edition will be 8.88$ (USD) or local currency equivalent worldwide. This means price increase for US customers and slightly lower prices for the rest of the world. There will be discounts for bundles of 3, 6 and 12 month subscriptions.

Please note that due to distribution related print schedule shift, advertisers looking to place ads in issue #3 (the one that is scheduled to be sold via Barnes & Noble) should contact us immediately. There are still a few days to place ads in issues #2 and #3, but after August 6th this will not be possible.

As always, thank you for your support as a community. You have made Bitcoin Magazine a success!

True. However, since some chose to believe that Zhou Tong has somehow funded Bitcoin Magazine, I would like to make the following statement.

1. Bittalk Media Ltd was formed on 23/12/2011. see http://business.data.gov.uk/id/company/07891749

2. Whatever donations Zhou Tong may have given to bittalk.tv way before December 2011, Bittalk Media Ltd and Bitcoin Magazine have none of it. We do not have any equipment reportedly bought using those funds on our books either.

3. Zhou Tong is neither shareholder nor director nor creditor nor donator of Bittalk Media Ltd. He is also not an advertiser in Bitcoin Magazine.

4. I can see every single transaction in history of the company and not a single penny is received from Zhou Tong or Bitcoinica GP. (This excludes single copy or subscription purchases, if any).

5. DCAO is not Bittalk Media Ltd.

6. To the best of my knowledge Bittalk Media Ltd. has approximately 1380$ "misappropriated" by Bitcoinica GP. These money were in an account controlled by me personally and earmarked to be used for payment of shipping fees for Bitcoin Magazine.

7. Matthew N. Wright, while Editor in Chief of Bitcoin Magazine, and likely also the heart and soul of it, when posting on this forum is expressing his own opinions which are not necessarily the same as opinions of Bitcoin Magazine or its publisher. Matthew does not own a controlling stake in the company. Bitcoin Magazine is a product of collaboration of fairly large team.

I hope this clears up the matter of alleged donations made by Zhou Tong or Bitcoinica to Bitcoin Magazine.

Vladimir Marchenko
Executive Editor, Bitcoin Magazine,
Managing Director, Bittalk Media Ltd.

I must say that IMO LoupGaroux has more reasonable position on some points of this matter than that of Matthew Wright.

At the same time this bitcoinica story is bizzare^n . So many times before we get over one bizzare event they pile up another bizzare craziness on top of it. I, frankly, do not know what to think. Wait and see here.

It's like saying "I am getting money from that unknown guy and I help to promote his ponzi, but I am not guilty on charges of fraud because I do not even know him and not affiliated with him". Nice try.

Get damn legal advise already and I promise you the first thing that will be advised to you is to shut up.

P.S. It is not my mission to please every idiot on the planet. Just saying as it is whether you like it or not.

Skipped because it is utter nonsence.


My lazy ass will stay where it is. I am not the one dropping vague hints here, shill, that I supposedly saw some pirate.

http://en.wikipedia.org/wiki/Shill
"
A shill, plant, or stooge is a person who publicly helps a person or organization without disclosing that he has a close relationship with that person or organization. Shill typically refers to someone who purposely gives onlookers the impression that he is an enthusiastic independent customer of a seller (or marketer of ideas) for whom he is secretly working.
"

Disclose your affiliation and income derived from this before saying anything on topic or stay ^^^^

Your asses will so flap in the wind eventually, once ponzi implodes. If not on fraud charges then on various securities laws.

Yep, rehearse your little speech for the cops. Guilty or not, I do not know. But in the list of defendants on this, yes, most certainly.

Do not play "idiots" with us. Say that you have met that guy with moniker pirateat40 and are satisfied that he was present here and that that you are satisfied that he is indeed the same person who runs this ponzi and that as supposedly "respected community member with a good reputation" vouch for him etc... Or say that you have not.

For all we can see you are trying to post ironic/vague statements supporting proliferation of a ponzi scheme in hope that somehow you will not get a scammer tag and be ostracised by this community as every single fraudster involved into this either directly or indirectly should.

Do you think that by posting vague statements you will avoid consequences of being promoter of this fraud scheme? There is that list of all those shills and ponzi co-conspirators who are all so vocal in vague and supposedly "respected" and promote the poinzi tirelessly. You shills be ready for the shitstorm that will happen once YOUR ponzi implodes. You will be guilty in eyes of this community and in the eyes of law as much as the direct ponzi operator himself.

Nobody here is ridiculous but a bunch of fraudsters who promote this poinzi and even more so all the idiots who eat all the shit they spawn.


Good start. It seems like automatic scammer tag list the moment the ponzi implodes as well as list of scammers for all the criminal reports that will be lodged eventually when this indeed blows over as many think it will.

Now a little exercise for all the readers. See the posting history of individuals mentioned above. See their mission  here for yourself.

This forum became such a sesspit and scammer paradise lately that anyone posting in "Lenging" and "Securities" sections and/or asking for any money to be loaned, borrowed, "invested" etc simply has to be considered as a thief and scammer by default until proven otherwise. As simple as that.

And for those who disagree, well... just wait a bit and you will see the wisdom of these words, eventually.

I think if this is done, it is a wise choice. Some money held with an attorney of representatives of group that tries to recover funds is WAY better than having nothing. This is a good progress.

Would you prefer this money to be transferred to intersango trio? Those guys are now clear target for recovery of the rest of the funds from their personal funds and assets and are not to be trusted with any money. It seems likely that they have either committed a breach of fiduciary duty (by their inaction as directors and operators of Bitcoinica) or committed an act of fraud by misrepresenting their position to public. What a nice choice.

It seems they draw a bunch of random guys and assign them to write paragraph each. Burime of sorts. The first paragraph is matter of fact'ish objective description of Bitcoin, the following two paragraphs were farmed out clearly to complete idiots. "monopoly money", "rich sponsor" ffs!

That is simple. They are a part of the scam and they see new threads and any mention of ponzi as an attack shortening longevity and magnitude of their scam. What they are doing is a p2p ponzi and they are effectively co-conspirators. This goes for all those intermediaries, which I see personally as scams that are as bad as the ponzi itself. This goes to all those who decided to gamble while being fully aware of this being ponzi and who are here on forum with a marketing mission of promoting their scam because they benefit from this (by defrauding others).

We see here p2p technology and principles applied in attempt to dillute guilt.

This is simple. Ponzi scheme is a form of fraud and all those who promote it, including, operators of various intermediate "investment" vehicles and other promotes of ponzis are in my opinion as guilty of fraud as the direct operators of the ponzi scheme.

Now here is a very high chance of imminent collapse of a ponzi scheme with lots of things pointing to this. The sooner the better.