Haha, fair enough. I had to try anyway

JR, stop throwing popcorn. Let this play out, it has to.

Can you explain the circumstances that caused this? Why was your stored info insufficient to reverse the chargeback?

Get a patent.

ehhhhh

Please do, I'd very much like to read this. Curious how they would respond.

edit:bitshares, not mastercoin.

It is similar to the the gambling scenario - all you need is a good faith effort to turn Americans away. It will not be enough to have a "check this box if you are not an American" kind of thing, but an IP filter should be enough. Yes someone could bypass it, but you are no longer legally liable because you did all you could. It's all about the good faith effort.

I spoke with someone on the phone from the SEC and they said there are international IPOs with domestic US companies all the time (where they bar US investors). So it doesn't seem like to far of a stretch...


Well the JOBS Act is federal law, but as you pointed out states appear to be able to have their own rulings on the matter. I didn't know states were willing to deviate from the federal statute. Hopefully Georgia isn't an exception to the rule. Lemme go check NY....


True story.

The entirety of that act has not been passed by the SEC yet unfortunately. You still can't crowdsource equity from non-accredited investors, which is where most of the Bitcoin securities land. SEC is really dragging its feet, claiming they want to protect consumer interests blah blah blah but really they are just stifling innovation from the little guys.

If you want to crowdsource equity it is best (if you are in the United States) to operate under Regulation S (safe harbor) and ban US customers from investing. Outside the US just don't let US investors invest. Unfortunately as far as I know none of the btc stock exchanges have a way of blocking specific IP ranges from investing in your stock.

That is why when my company goes public on here we will have to do it ourselves, in sort of a colored coin manner, because we will have to make sure US citizens don't get a piece of our pie.

Yea, someone should change the title before we get a wave of FUD that hits the media (a la Thailand).

Read the thread man, this has been addressed many times. No one really thinks they stole it. We want to see if there is an issue with the 2FA implementation.

No, your numbers are right. The claim to insolvency was what I was questioning. We know how much has been taken, but we don't know how much they had on reserves (in Bitcoins, Dollars, etc...); for this reason I am unsure we can make a claim either way.

TGB did an article about it but then pulled it for that exact reason: http://www.reddit.com/r/Bitcoin/comments/1lc3is/pulled_article_from_tgb_5m_seizures_provide/

One might counterclaim the lack of evidence with the delays in withdrawals. While that is a reasonable claim if you look at the legal hysterics surrounding gox it is not unreasonable to think they are having a very difficult time finding a new bank (after having the Wells and Dwolla accounts shut down). Their Japanese bank is clearly not cut out for the withdrawal volume (which is not a far stretch to think, most banks these days still use tech running on assembly language) and as such things are delayed. Given the huge price spike in Bitcoins and their majority (but waning) market share they are most likely in the green, but it's just too hard to tell.

edit: i just read your original post. you said if, i didn't see that. my bad

Insolvency implies they cannot cover the deposits on hand. Given projected earnings and the current price of Bitcoin they are [probably] fine. We don't know all the numbers, so anything is just a guess.

edit: point being, it's not entirely about the math. FUD = an estimate/approximation of something with negative connotations, a claim backed by half evidence but purported as truth. which is what you came to the table with.

Ah, so there will probably be a ruling long before your opening. That's good.


Good to hear you have contacts. Do you have assurances one way or the other? Or are these verbal understandings, where you have consent to operate but not a guarantee of future shutdown (assuming you follow all regulations)?

Yea again, we have to take his word for it. If this is a scam (which it certainly could be given RS's history and his ability to disappear at a moments notice), it appears to be more of a long con, so people who are backing the service in here have no definitive proof either way. It's all anecdotal evidence.

If he cannot so much as reset passwords, that is a slight concern. This is not some silly hybrid wallet with client side encryption and double hashed passwords. This is supposedly an n-tier c++ backend. Raises an eyebrow.

I get the whole 'we can't see your pw' thing but if he is paying interest he most likely has access to the private keys for the wallet addresses, so whether or not he has your pw is irrelevant to stealing your funds. Just to point that out.

If you bothered to read the claim you would also note that they were returned over 7 million. On top of their earnings since april (8 million, as of last month), we know they are fine. Stop spreading FUD. Thanks.

Unless 2FA has been implemented poorly. There have been cases where yubikeys have been compromised on blockchain.info, allowing the attacker to get the seed (or reuse codes, can't remember); this is the first gox 2fa breach I have heard of though (unless of course he is lying about having the 2fa setup).

He is claiming otherwise. Although you are right, we would probably see evidence of more 2fa heists if the OPs claim is true. Perhaps this was a test run. Perhaps it's just a gox troll.

Logs would be nice (from gox), at the very least. Perhaps you can pull logs from the yubikey, idk if that is at all possible. In the end of the day the logs could be tampered with by either party so there is no way to know for sure.

If this is a lie by the OP we would need to find motive, perhaps another exchange spreading FUD.  

Guys, keep the conversation on point.

JRam did you withdraw bitcoins recently?

Okay, so you deny the allegations. This is going to get messy; Mark could certainly post the logs but it is still effectively his word against yours. He is saying you did not have 2FA enabled at the time of the 'heist'.

You should both now post logs. You can use the API to get info about the account (idk how much): https://data.mtgox.com/api/1/generic/private/info

This would work best if you both posted them at the same time. Perhaps you can upload them somewhere, keep the link private and share it once mark posts logs on his end.

ah yep you're right.