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Let face it, there will be an exchange that allow bots even if all the other exchanges will not. Bitcoin economy is a free market.
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hi! this is to all of you who have get your funds stolen by mybitcoin.com mybitcoin.com's hosting provider is leaseweb.com you can contact them, or the police saying that mybitcoin.com have stolen your bitcoin it is likely that they will try to contact the onwer of the site, tom williams. please contact them at: http://www.leaseweb.com/en/about-us/contactand please remember mentioning: mybitcoin.com 83.149.112.133, its there ip tom williams, the owner of the site. i hope you get your funds back.  Let wait and see what happen. |
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You will not do fractional reserve banking, correct? Do you have that in your TOS? The insurance won't mean a thing.
I think this would clear it up for you. http://www.flexcoin.com/?page_id=14870% of the fees collected are disbursed to the account holders as interest payments, based on the following formula… (your account balance / total balance of all flexcoin accounts) * ((all fees collected – miner fees) * 0.7) To answer your question we don't loan out bitcoins.. way to risky But do you have it in your TOS that you don't do fractional reserve banking and that it is your responsiblity to ensure that the balance shown is actually what you have? Also, do you have a process for reimbursing people's bitcoin in case of successful security breach? |
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Hi,
Does your bank offer any insurance policy in terms of if you got shut down for instance or hacked, would our money still be safe and backed up under some kind of insurance? Really like what you've done though, the bitcoin community needs something like this so thank you for all your hard work!
Also are payments to and from exchange sites such as MtGox or Britcoin fine?
Ok you hit on a few topics... I'll try to answer. 1 - We are in discussion with one of the exchanges right now.. it's not finalized but the concept is 100% fee-less transfers from the bank to the exchange and back. This however is early in discussion.. (one of the exchanges would be using a flexcoin id, hence allowing for free transfers). Right now you can send it to any exchange you want just like you would with your desktop client. 2 - Insurance, this is a tricky problem. The FDIC does not recognize bitcoins, much less insure them. We are 1000000% open to it, it's just that the exchanges are not in a position to cover losses considering they have enough problems on their own (Goxed, or tradehill getting Dwollaed) So we're looking at valid solutions, but most insurance companies don't understand what a bitcoin is, much less willing to insure them (based on recent media blasts regarding theft, etc) You will not do fractional reserve banking, correct? Do you have that in your TOS? The insurance won't mean a thing. |
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So there is flexcoin. What other wallet service are there?
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I might have lost 600 BTC if mybitcoin service went down and never come back up. The 600 BTC I am holding were used for the cause of convincing CCC which went nowhere as their communication sucks. They were tried to be donated to the GIMP campaign but that campaign die out due to my lack of interest.
Eventually, I will list all the forum members who had donated to me as an escrow. They can either decide to forgive my debt or negotiate with me for a repayment.(Hopefully collectively with other users)
I am an employed programmer (at 10 dollars an hours cause I am still very junior), so be very reasonable, especially in a deflationary economy.
Should the mybitcoin service come back up, I will begin the process of refunding the escrow money should donors ask for it.
BUT! I have plan for it too. I wish to establish an Bitcoin X-prize foundation. (Not registered by the gubernment or anything) that award prizes for important achievement for the bitcoin economy and community. In addition to the initial money used to established the foundation, there will be paying members who help increase the prize pot as well vote for projects they want to see funded and serve as judges as to if a prize will be awarded. The X-prize will be used to incentivize economic development in much the same way bounties does in the past but with more certainty to the process and bigger capital.
If there are interest from donors, I will also reserve their escrow money for it and I will pay 5 USD worth of BTC to help chip in for the development cost. Also, I would like to transfer the escrow money for the X-prize to someone trustworthy as determined by donors.
Anyway, I will try to get money out of mybitcoin should it come back up as I don't trust the service anymore.
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Your wallet.dat.
That is not an answer. |
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I personally find that fact outrageous. No one should be able to make a tenfold, or more, profit on any investment--unless its for the betterment of the overall global community (had you there for a second).
Why are you making moral judgement on how much profit a person should be able to make? |
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This was bound to happen eventually, the site was just running without a person maintaining it for at least a month; support haven't answered messages since late June. The guy running the site obviously has better things to do than look after his users, he took 1BTC from me over a month ago, probably not malicious but obviously doesn't give a shit about us.
So if you were still using this service after all the complaints in the forum then you were asking for trouble.
What would you recommended as a wallet service replacement? Bitcoin Weekly funds is stuck there too! Also, 600 BTC that I am responsible for. |
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My mere presence on the first day of enjoyment made my boss become a bitcoin miners. He now owns 11 GPUs, all ATI Radeon.
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By just being hired, I introduced my boss to bitcoin. Now he's bitcoin mining and have 11 ATI GPUs.
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Maybe somebody just repackage the Satoshi paper and hope to make money off of it.
Do I give a damn? Not really. Anything to help spread bitcoin knowledge is appreciated.
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I agree that there has to be created a better algorithm for trading online... one that is more stable than what we have now, but one that is also fair to all parties partaking in the market.
Question is... how can we do this?
Fair? What is fairness? |
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I find it ridiculously funny that people who love Satoshi and bitcoins and everything he has done for the movement and appreciate the anonymity factor, are the very same people who wish to take away Satoshis anonymity.
You can't make that stuff up. It's too funny.
Naw. It is not about figuring out who Satoshi is but to discuss the great mystery that is satoshi. |
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We reached our target already! Thanks for the bacon.  |
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I look forward to reading: Bitcoin, Decentralization and the Nash Equilibrium by Vitalik Buterin
Vitalik Buterin is an excellent writer. I am happy to to employ him. BTW, I wonder is Vitalik Buterin rides a Harley because the anagram for his name is "Trivial Bike Nut."
 Anyway, thanks for the donations so far. |
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bitcoin.org isn't official in the sense that someone decreed it, but it is the de-facto face of the project. It's where everyone goes when they first hear about Bitcoin and want to know more. This won't always be the case (remember bittorrent.com?), but for now it's the reality that we have to deal with.
On the other hand, if you feel that bitcoin.org is so insignificant, why are you so concerned that this forum remain on it?
Trying to place Cypherpunkers next to the merchant community jgarizik wants to cater to is a bad idea. Though, it would be nice to have one coherent community, but that doesn't seem to be possible. |
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While gold and swiss Francs have climbed, just look at BTC. Still hovering around the 13-14 mark. It's definitely not a safe haven currency yet and the lack of movement means I'm putting off using it as one e.g. hedge against the euro.
Lack of movement! EVIL! Too much movement! EVIL! |
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