[BTC-TC] Virtual Community Exchange [CLOSED]

[SquishySquish]

I wonder if You will be able to disclose more details in the future on winding down the site.
Maybe even write a book about it?

+1

in future, no hurry : )

"How I partnered with TheSwede, Sam on the LABCOIN scam with fake bids, caught the SEC on my tail and now have to shut down the exchange"

[1714858368]

1714858368

[Multi]

Hi Burnside.

I unwittingly sent the BTC to btct.co. Can I withdraw normal ?? or will be confiscated

My Username: Multi

Sorry for English.

"Warning -- The site uses a shared wallet. Withdrawals WILL NOT appear to come from your deposit address! This means winnings from online gambling sites will likely go into the site's wallet. Such deposits WILL BE CONFISCATED."

[dexX7]

Hi Burnside.

I unwittingly sent the BTC to btct.co. Can I withdraw normal ?? or will be confiscated

My Username: Multi

Sorry for English.

"Warning -- The site uses a shared wallet. Withdrawals WILL NOT appear to come from your deposit address! This means winnings from online gambling sites will likely go into the site's wallet. Such deposits WILL BE CONFISCATED."

Hi Multi,

just withdrawal to your wallet, it's ok!

[Multi]

Hi Burnside.

I unwittingly sent the BTC to btct.co. Can I withdraw normal ?? or will be confiscated

My Username: Multi

Sorry for English.

"Warning -- The site uses a shared wallet. Withdrawals WILL NOT appear to come from your deposit address! This means winnings from online gambling sites will likely go into the site's wallet. Such deposits WILL BE CONFISCATED."

Hi Multi,

just withdrawal to your wallet, it's ok!

thanks

[subrewulf]

Hello,
I seek help here. I came to  BTC-TC after few days and suddenly the trading has been permanently frozen. My security has disapeared, there is just few coins in my wallet left. Is there any chance to get my securities back? Who should I talk to? Is admin here? If so, my account on BTC-TC is pimpa - kindly look at the issue please.

Thanks
P.

[Rannasha]

Hello,
I seek help here. I came to  BTC-TC after few days and suddenly the trading has been permanently frozen. My security has disapeared, there is just few coins in my wallet left. Is there any chance to get my securities back? Who should I talk to? Is admin here? If so, my account on BTC-TC is pimpa - kindly look at the issue please.

Thanks
P.

Securities have been working on moving to different exchanges, conversion to direct shares or liquidation. Consult the threads of the securities that you hold.

[burnside]

I wonder if You will be able to disclose more details in the future on winding down the site.
Maybe even write a book about it?

+1

in future, no hurry : )

"How I partnered with TheSwede, Sam on the LABCOIN scam with fake bids, caught the SEC on my tail and now have to shut down the exchange"

It would be fun to write a book.  I should have taken better notes through this whole thing.

As for LABCOIN, I still have my 5 digit number of shares... Which I kept (at a significant loss) just to keep them out of circulation.   

[burnside]

You'll all notice sooner or later that our SSL certificate has expired.  I am not going to renew it.  Though I may try to find a cheaper generic one.

Just wanted to let everyone know we are aware of it.  I'm just not sure if it makes sense to spend money to renew at this point.

Cheers.

[Carnth]

You'll all notice sooner or later that our SSL certificate has expired.  I am not going to renew it.  Though I may try to find a cheaper generic one.

Just wanted to let everyone know we are aware of it.  I'm just not sure if it makes sense to spend money to renew at this point.

Cheers.

I saw the expired cert. Clicked past it.

I don't think you need to renew. Spend $10 at the most if people insist.

[EskimoBob]

You'll all notice sooner or later that our SSL certificate has expired.  I am not going to renew it.  Though I may try to find a cheaper generic one.

Just wanted to let everyone know we are aware of it.  I'm just not sure if it makes sense to spend money to renew at this point.

Cheers.

I saw the expired cert. Clicked past it.

I don't think you need to renew. Spend $10 at the most if people insist.

Why waste money on certificate cartel when you can use openssl and generate one yourself.

Any news on your software sale?

[Rannasha]

You'll all notice sooner or later that our SSL certificate has expired.  I am not going to renew it.  Though I may try to find a cheaper generic one.

Just wanted to let everyone know we are aware of it.  I'm just not sure if it makes sense to spend money to renew at this point.

Cheers.

I saw the expired cert. Clicked past it.

I don't think you need to renew. Spend $10 at the most if people insist.

Why waste money on certificate cartel when you can use openssl and generate one yourself.

Any news on your software sale?

The auction is open until the 21st according to the website, so I guess we'll find out in 2-3 days.

[burnside]

So I've been mulling over a few things.

First, what to do with the Fee reserves:

I think this one is easy.  Post shutdown I will update the site's bitcoind to the latest version which has lower fees.  At that point there will be no need for the security patches we normally were running with, so it will take less time to do the upgrade.  Then I will script a payout down to a reserve of 0.0005.  This is 5 x 0.0001, thus most people with a reserve at 0.0025 or 0.002 would get 0.002 or 0.0015 respectively in the final scripted withdrawal.

I WILL NOT PROCESS THIS FINAL WITHDRAWAL UNTIL AFTER THE SITE HAS GONE DARK.  This is because until then, divs may still come in and thus fees may still be getting generated on withdrawals.

Second, and a little harder... what to do with the deposits that do not get withdrawn before the site shutdown:

In a perfect world I'd like to hold the deposits 6-12 months so that people could continue to make claims and withdraw their forgotten coins.  I do not believe I am going to be allowed that luxury.  Thus, despite the risks, I suspect I am going to have to process refunds back to the address of a user's last successful withdrawal.  I know this is not ideal.  Some portion of the withdrawals are going to go to addresses that are no longer used, or are on sites no longer in service... Can anyone think of a better alternative?

Cheers.

[supermono]

Maybe do the final withdrawal to the user's public withdrawal address if one is set, otherwise to the address of the last successful withdrawal?

[pascal257]

Second, and a little harder... what to do with the deposits that do not get withdrawn before the site shutdown:

In a perfect world I'd like to hold the deposits 6-12 months so that people could continue to make claims and withdraw their forgotten coins.  I do not believe I am going to be allowed that luxury.  Thus, despite the risks, I suspect I am going to have to process refunds back to the address of a user's last successful withdrawal.  I know this is not ideal.  Some portion of the withdrawals are going to go to addresses that are no longer used, or are on sites no longer in service... Can anyone think of a better alternative?

Maybe donate to the Bitcoin Foundation? I think that's a better alternative than loosing the coins to unused addresses.

[pietpatat]

I got a huge problem and was hoping somebody could help me out.

I haven't been able to get on the internet for the last 2 months and now I am finally online I read that btctc.co is closing and I needed to migrate my shares to another marketplace. I have/had 10 Asicminer shares and a bunch of tat-asicminer shares on btct.co

But here here is the big problem: I lost my phone with thad the Google auth app on it. So now I can't login on btct.co to transfer my shares ( if it's not already to late? ). I have requested to reset the Google Auth code on btctc.co but it sais that might take 30 days, and the site is going offline in 9 days...

So I'm in a real hurry to get my shares transfered from btct.co and don't know where to start.

Any help would greatly be appriciated.

[burnside]

Maybe do the final withdrawal to the user's public withdrawal address if one is set, otherwise to the address of the last successful withdrawal?

That makes sense.  I will write the script so that it pulls that first, then falls back to the last successful withdrawal.

Second, and a little harder... what to do with the deposits that do not get withdrawn before the site shutdown:

In a perfect world I'd like to hold the deposits 6-12 months so that people could continue to make claims and withdraw their forgotten coins.  I do not believe I am going to be allowed that luxury.  Thus, despite the risks, I suspect I am going to have to process refunds back to the address of a user's last successful withdrawal.  I know this is not ideal.  Some portion of the withdrawals are going to go to addresses that are no longer used, or are on sites no longer in service... Can anyone think of a better alternative?

Maybe donate to the Bitcoin Foundation? I think that's a better alternative than loosing the coins to unused addresses.

The thought definitely occurred to me, but then the people who were not aware of the shutdown (maybe went on a 6 week trip to the Antarctic?) are essentially forced to donate their coins.  So which is worse?

Antarctic Voyager A, lost his address, coins go into a void.
Antarctic Voyager B, happily receives his coins.

-or-

Antarctic Voyager A, coins went to the Bitcoin Foundation, he's happy.
Antarctic Voyager B, coins went to the Bitcoin Foundation, he's pissed.


I do think I might be able to hold the funds for another 30 days past the go-dark date, so I can buy a little time, but sooner rather than later I have to deal with it.

[burnside]

I got a huge problem and was hoping somebody could help me out.

I haven't been able to get on the internet for the last 2 months and now I am finally online I read that btctc.co is closing and I needed to migrate my shares to another marketplace. I have/had 10 Asicminer shares and a bunch of tat-asicminer shares on btct.co

But here here is the big problem: I lost my phone with thad the Google auth app on it. So now I can't login on btct.co to transfer my shares ( if it's not already to late? ). I have requested to reset the Google Auth code on btctc.co but it sais that might take 30 days, and the site is going offline in 9 days...

So I'm in a real hurry to get my shares transfered from btct.co and don't know where to start.

Any help would greatly be appriciated.

The reset requests are on an accelerated 3-day schedule.

When your reset is complete, set your public withdrawal address ASAP here:  https://btct.co/account?tab=tab2

That will get you into batch 3 or batch 4 of the weekly share transfers I am processing to direct ASICMINER shares with Friedcat.

For the TAT.ASICMINER shares contact TAT.  I believe he is processing transfers to Havelock.

Cheers.

[deut64]

Burnside, I PM'ed you with a problem on Sept. 26 and you replied to me the very next day, but I haven't heard from you since then. Are my PMs getting through to you? With the shutdown looming, I'm getting nervous.

[dexX7]

I thought the public withdrawal address is exactly for the purpose of returning remaining coins (besides identifcation).

In theory: how would a user - after BTCT goes dark - authenticate himself and claim his coins, assuming he didn't set his public withdrawal address? I have no idea, but if you do, maybe someone could act as escrow to hold the remaining coins.

[burnside]

I thought the public withdrawal address is exactly for the purpose of returning remaining coins (besides identifcation).

In theory: how would a user - after BTCT goes dark - authenticate himself and claim his coins, assuming he didn't set his public withdrawal address? I have no idea, but if you do, maybe someone could act as escrow to hold the remaining coins.

Right, and we'll use it as such, but there are a lot of accounts unfortunately that have not set it. 

Escrow really isn't an option unfortunately unless it's someone approved by the powers that be and usually those someones cost a significant amount of money.  (and in this case, know nothing about bitcoin.)