[BTC-TC] Virtual Community Exchange [CLOSED]

[creativex]

Dear US Bitcoiners,

Kindly to tell your government to stop acting like the world police and ruining all the fun.

Sincerely,
A non-US citizen

Like they listen to us...lol. The world police nonsense is merely a symptom of the controlled demolition of the US dollar. The percentage of Americans that even have a clue what's happening is near zero.

[Lohoris]

Could we get a temporary feature to add a bitfunder account to btct to facilitate the transfer of shares, since this will be the most common place to transfer to [citation needed]?

ftfy

[neotrix]

Dear US Bitcoiners,

Kindly to tell your government to stop acting like the world police and ruining all the fun.

Sincerely,
A non-US citizen

Like they listen to us...lol. The world police nonsense is merely a symptom of the controlled demolition of the US dollar. The percentage of Americans that even have a clue what's happening is near zero.

+ 10...

Thanks to burnside for the year of management and for creating btct.co and litecoinglobal. We can assume if he decide to close it he have good reasons to do it... I like the way this is done, letting time to everyone to trasnfer, cashout...Really profesionnal as usual from Burnside.

Well as said to Burnside by email, I will be happy to buy the script and make the story continu under another name with a new website using the soft. I guess many people are wiling to do same. Let see what will be next

[Ukyo]

Ukyo, what steps have you taken/are taking to prevent a similar fate to your exchange?

First the question is what am I preventing? We do not know the story yet.

But on a more serious note, I have been working to get some official licensing.
But that is for another discussion.

[kokojie]

Anyone know what's the plan or compensation for LTCGLOBAL share holders? the value has dropped 90% over night, is there any plan from burnside to buy out the shares?

[BTCThousandaire]

Could we get a temporary feature to add a bitfunder account to btct to facilitate the transfer of shares, since this will be the most common place to transfer to [citation needed]?

ftfy

It has the highest liquidity and seems to be the main choice on big securities threads.

May as well include havelock and any other exchange and even direct shares to be thorough, shouldn't be hard, just text.

[stereotype]

Hey guys (and gals),

It is obvious that everyone is highly interested in the reasons behind this latest change.
Burnside has already stated he would shed light on things as soon as he can.

It would probably be best to leave speculation aside until that point. There are easily any number of possibilities here.
Unlike a prior fiasco which to this day refuses to say who/what/why and disappeared without warning , Burnside seems to be doing the best with whatever limitation we do not know.
Give him time to handle what he needs to and make any statements he has before we let too many mass rumors fly.

Burnside, As a BTCT user, I would like to thank you for operating the site for as long as you did and keeping it as reliable as it has been.

+1 Here here.

Keep calm, and carry on.

[Lohoris]

Anyone know what's the plan or compensation for LTCGLOBAL share holders? the value has dropped 90% over night, is there any plan from burnside to buy out the shares?

In his FAQ somewhere he clearly stated that in the event of closing or accidents he would try his best to protect other securities, but LTCGLOBAL shareholders would be left with nothing.
(not his exact words)

And this makes sense: the only value left in LTCGLOBAL would be if he managed to sell it, but as far as we know he can't to it right now, for the same reason he has to close down.

[bjack0815]

Ukyo, what steps have you taken/are taking to prevent a similar fate to your exchange?

First the question is what am I preventing? We do not know the story yet.

But on a more serious note, I have been working to get some official licensing.
But that is for another discussion.

How will you manage answering questions from your customers when you will get some of the btct clients when you can't even manage this right now? 

[creativex]

Anyone know what's the plan or compensation for LTCGLOBAL share holders? the value has dropped 90% over night, is there any plan from burnside to buy out the shares?

In his FAQ somewhere he clearly stated that in the event of closing or accidents he would try his best to protect other securities, but LTCGLOBAL shareholders would be left with nothing.
(not his exact words)

And this makes sense: the only value left in LTCGLOBAL would be if he managed to sell it, but as far as we know he can't to it right now, for the same reason he has to close down.

Good on him for being later with dividends than he has been in the past 6 months then. Many were even holding in anticipation of a stock split...which is no longer necessary.

[kokojie]

Anyone know what's the plan or compensation for LTCGLOBAL share holders? the value has dropped 90% over night, is there any plan from burnside to buy out the shares?

In his FAQ somewhere he clearly stated that in the event of closing or accidents he would try his best to protect other securities, but LTCGLOBAL shareholders would be left with nothing.
(not his exact words)

And this makes sense: the only value left in LTCGLOBAL would be if he managed to sell it, but as far as we know he can't to it right now, for the same reason he has to close down.

I highly doubt it'll be nothing. There's current month's profit of nearly 2000 BTC, still undistributed. Plus August profits were also undistributed due to "legal cost" which I doubt was fully spent.

Together there should be at least over 3000 BTC due to shareholders, which would be at least 0.3 BTC per share, or roughly 30 LTC per share. This is just cash on hand. Not to mention I'm sure
someone is interested in the domain and site code, they should be worth at least 500 BTC if not more. Also burnside should provide some special compensation for public share holders, similar to
how Eric handled the SatoshiDice sale, paying extra to public share holders out of his own funds. I think a 70-80 LTC buy out would be a fair compensation.

[Lohoris]

I highly doubt it'll be nothing. There's current month's profit of nearly 2000 BTC, still undistributed. Plus August profits were also undistributed due to "legal cost" which I doubt was fully spent.

Together there should be at least over 3000 BTC due to shareholders, which would be at least 0.3 BTC per share, or roughly 30 LTC per share. This is just cash on hand. Not to mention I'm sure
someone is interested in the domain and site code, they should be worth at least 500 BTC if not more.

Ok, this makes sense.

Also burnside should provide some special compensation for public share holders, similar to
how Eric handled the SatoshiDice sale, paying extra to public share holders out of his own funds. I think a 70-80 LTC buy out would be a fair compensation.

This, however, does not.
Eric managed to pay compensation because satoshidice was bought by someone, so he decided to cut part of his profits and redirect them to the shareholders.
burnside is closing down btct.co without getting anything in return, so no, quite obviously there won't be any bonus, and there shouldn't be.

[creativex]

Should litecoinglobal.com operate at a loss for more than 30 days, burnside reserves the option to liquidate and distribute the proceeds.

We don't know the reason why burnside is shutting down his exchanges, but this is plainly not the reason.

[kokojie]

I highly doubt it'll be nothing. There's current month's profit of nearly 2000 BTC, still undistributed. Plus August profits were also undistributed due to "legal cost" which I doubt was fully spent.

Together there should be at least over 3000 BTC due to shareholders, which would be at least 0.3 BTC per share, or roughly 30 LTC per share. This is just cash on hand. Not to mention I'm sure
someone is interested in the domain and site code, they should be worth at least 500 BTC if not more.

Ok, this makes sense.

Also burnside should provide some special compensation for public share holders, similar to
how Eric handled the SatoshiDice sale, paying extra to public share holders out of his own funds. I think a 70-80 LTC buy out would be a fair compensation.

This, however, does not.
Eric managed to pay compensation because satoshidice was bought by someone, so he decided to cut part of his profits and redirect them to the shareholders.
burnside is closing down btct.co without getting anything in return, so no, quite obviously there won't be any bonus, and there shouldn't be.

Burnside owns 90% of the shares, so he's getting 90% of the profits of the operation. While public shareholders paid for their shares, and then worked as moderators to research/approve new securities for free. Since the public shareholders didn't really approve to close down the operation, then burnside should compensate for all the free work received, and also acting against the public share holder's will/interest.

[stslimited]

can't we just go to Oregon and boost his computers? I may have infrastructure for continuing the operation.

[supert]

What is happening to the option contracts?

[creativex]

fukked.

[Puppet]

Ukyo, what steps have you taken/are taking to prevent a similar fate to your exchange?

First the question is what am I preventing? We do not know the story yet.

But on a more serious note, I have been working to get some official licensing.
But that is for another discussion.

Ill be brutally honest. I dont find your replies very convincing or even credible. Whenever you get challenged on this, you try a clever remark or joke, then boast of having three law firms over the world and working on  "getting licensing". What licensing? There is no license to trade in unregulated securities that Im aware off. You think silk road could try to get a license to trade illegal drugs ?  Never any specifics or even broadly how you think you could possibly overcome pretty clear regulation.   

Im not betting a penny on bitfunder being around for long, I just hope when it closes the coins dont vanish with it.

[SebastianJu]

If you download your csv with portfolio, trades and so on make sure you downloaded what you wanted. I first only got htm-files claiming i was above connection maximum.

[stefffe]

Can someone tell me whats the difference between "public BTC address" or my "withdraw address"? Since I only have one btc address (stored on usb stick).


Site wants me to have public btc address set but as of right now I have same address in both fields.