40,000 stolen Bitcoin suspect Zhou Tong's co-founder is currently doing an AMA

[MemoryDealers]

For those that don't remember  Zhou Tong was the founder of Bitcoinica.

40,000 Bitcoins were stolen from the exchange,  by a "hacker" but nearly all the evidence points to Zhou Tong.

https://www.youtube.com/watch?v=AypRF9q0llU

Zhou Tong then claimed he was leaving Bitcoin.

Now Zhou Tong has founded a new company in Australia called CoinJar.
His co-founder is currently doing an AMA session.

Now is your chance to ask him anything you want, including about co-founder Zhou Tong:

https://forum.bitcoin.com/ama-ask-me-anything/i-m-asher-tan-co-founder-ceo-of-coinjar-ask-me-anything-t2262.html

[Plento]

This was before my time... guy has nerve...

[Amph]

this is why centralization is dangerous especially if combined with bitcoin where there is no regulation, you get the usually "i was hacked all funds vanished"

bitcoin should only work with decentralized system for anything

[Mickeyb]

this is why centralization is dangerous especially if combined with bitcoin where there is no regulation, you get the usually "i was hacked all funds vanished"

bitcoin should only work with decentralized system for anything

Well yes. We have a system like Bitcoin that's completely decentralized but in order to access it, we are obliged to go through centralized channels. This sucks and this is definitely a weak link of the whole industry.

It will take much more time until we don't manage to deploy completely decentralized exchanges that would eliminate the risk completely.

[unamis76]

I remember vaguely what happened back in the days...

The guy has already got a question on the subject, which he replied to quite well. He was still bombarded for the response, obviously I've about CoinJar's service before, never bad things as far as I can recall, but I didn't knew Zhou was involved with them, I thought he eventually disappeared after the Bitcoinica incident. Fortunately didn't lost any coins there, so eventually ended up not reading more about it...

I think this AMA will end up on a bad route. People will question him about Bitcoinica and not CoinJar. But good thing he accepted to do it, anyways. I'll be on the watch.

[oblivi]

This was before my time... guy has nerve...

Same, I don't know who this guy is. Back then I wasn't paying attention to Bitcoin. I got told to invest when it was 30 dollars by someone I know and I ignored it. Oh well.

[Towlie]

this is why centralization is dangerous especially if combined with bitcoin where there is no regulation, you get the usually "i was hacked all funds vanished"

bitcoin should only work with decentralized system for anything

This can happen with fiat too. Inside jobs are exclusive to crypto but the currency being digital makes it easier to move and blame on hackers especially in such a young industry without much regulation and many people putting all their faith in certain companies.

[coinpr0n]

I think this AMA will end up on a bad route. People will question him about Bitcoinica and not CoinJar. But good thing he accepted to do it, anyways. I'll be on the watch.

Well, even the entire thing is being framed like that (read the title here and on reddit) by the host himself. Controversy sells.

[knowhow]

Bad reputation and another project and maybe another attempt to scam again and now that bitcoin has a good value,soo maybe those 40k btc had ended and he needs more funds.But main idea of bitcoin is being anonymous and low fees soo why to show up?

[tom555]

i've been read the zhou tong article about his leaving bitcoin,and really confuse about the truth. i dont think if zhou has been suspecte for this case,but whatever they think and talk about this case,i wish the best for bitcoinac case.

[YraggarY]

Credit to Roger Ver for asking the question about Zhou Tong; I think it was fairly answered by Asher Tan, but I'm not sure I'd be comfortable engaging with any company that has anything at all to do with Zhou Tong given the mounting evidence that indicates (not shows, but indicates) his direct involvement in the Bitcoinica disaster.

[Gleb Gamow]

Wanna know the funny part of this thread? ONLY 11 replies to-date. HAHAHA 2-3 years ago this thread would've had 100+ posts in the first hour alone.

[Kakmakr]

Wanna know the funny part of this thread? ONLY 11 replies to-date. HAHAHA 2-3 years ago this thread would've had 100+ posts in the first hour alone.

I think most of the people who lost coins there, has left the community and the people around today has got used to services like these scamming people out of their coins. A lot of people joined after this, and would not know anything about this. 

Asher <CoinJar> will just deny Zhou Tong's being found guilty of any crime or involvement with that and simply ignore those type of questions.

[MemoryDealers]

The longer a crime goes unsolved / not punished, the less likely anything is to ever happen.

[Blue_Tiger73]

So he was pretty much found guilty of stealing his own Bitcoin; and then now he is starting a new company. This guy has balls. But who will even use this company knowing that Zhou Tong worked on it. I would be quite hesitant to use such a website and if you are planning to use this company, please tell me your reasoning for it.

[coinpr0n]

The longer a crime goes unsolved / not punished, the less likely anything is to ever happen.

I've got to agree with you on that. Reminds of TradeFortress also, there was so much momentum at the time and now it's all but forgotten / he even comes on the forum intermittently and leaves comments. Sad.

[maku]

this is why centralization is dangerous especially if combined with bitcoin where there is no regulation, you get the usually "i was hacked all funds vanished"

bitcoin should only work with decentralized system for anything

Being hacked or robbed is not excuse to not be blamed. I imagine if you are businessman you must be aware that money of your clients/creditors you keep are your responsibility and you HAVE to give it back even if you lost it.

[Betwrong]

So he was pretty much found guilty of stealing his own Bitcoin; and then now he is starting a new company. This guy has balls. But who will even use this company knowing that Zhou Tong worked on it. I would be quite hesitant to use such a website and if you are planning to use this company, please tell me your reasoning for it.

I'm not going to use the service in the near future, but in general replies like below might convince me to use the service.

Mon Nov 09, 2015 4:29 am

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Primedice Head of Operations & Co Founder

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[Amph]

this is why centralization is dangerous especially if combined with bitcoin where there is no regulation, you get the usually "i was hacked all funds vanished"

bitcoin should only work with decentralized system for anything

Being hacked or robbed is not excuse to not be blamed. I imagine if you are businessman you must be aware that money of your clients/creditors you keep are your responsibility and you HAVE to give it back even if you lost it.

i'm not finding excuse, i'm saying that bitcoin does not work well with centralized exchange, because there is no regulation usually, where in fiat only exchange they are 100% regulated, and there is insurance, real insurance

now with bitcoin only coinbase have real insurance, because it is heavily regulated, basically any exchange that has not insurance like coinbase cannot be trusted with your money-in