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Author Topic: Confused About Coinlab Plan  (Read 2536 times)
bb113
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March 22, 2013, 02:28:30 PM
 #1

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I'm hugely excited to announce to you that CoinLab will be teaming up with Mt. Gox and Silicon Valley Bank to provide Bitcoin purchase, sale and exchange services to customers in the U.S and Canada as of March 31, 2013.

Quote
Alpha Transition -- Launching Very Soon [Date=Unknown, before March 15th]

    To apply to participate in the Alpha, please fill out this form
    Approximately 100 applicants will be accepted into the Alpha
    We will select a variety of large and small transacting applicants into the Alpha testing population to best stress-test our system

Beta Transition -- March 15

    To apply to participate in the Beta, please fill out this form
    We will give access to roughly 5000 users during the Beta period

Live -- March 22

    We'll have everyone moved over by March 22!
http://coinlab.com/transition

Quote
We’ve transitioned two major customers over as of a couple weeks ago. Things are going smoothly with them, and so we’ll be sending out invites to everyone on the Alpha list shortly.
-Unknown date (Today?)
http://coinlab.com/status

Why is it so hard to understand whats going on?
Does "provide Bitcoin purchase, sale and exchange services" mean the same thing as "moved over"?

If there are delays, then there are delays. Updating the webpage with estimated dates to reflect this is the cheapest part of the entire process. Is there other info somewhere else?
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March 22, 2013, 02:30:01 PM
 #2

I would like to know the current status as well. It does not appear anything has changed at mt gox currently.

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March 22, 2013, 02:30:16 PM
 #3

I smell Bruce Wagner style in all of that.
Herodes
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March 22, 2013, 04:21:28 PM
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If there are delays, then there are delays. Updating the webpage with estimated dates to reflect this is the cheapest part of the entire process. Is there other info somewhere else?

Exactly - highly questionable.
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March 22, 2013, 04:24:14 PM
 #5

Some of the API's aren't working directly from MtGox this morning.

And if you send coinlab an email, they don't respond. Would be nice to know WTF is going on... this whole thing is probably holding the marketing back from sky rocketing. Maybe they are doing that on purpose to purchase more coins at a lower rate.

          WTF!     Don't Click Here              
          .      .            .            .        .            .            .          .        .     .               .            .             .            .            .           .            .     .               .         .              .           .            .            .            .     .      .     .    .     .          .            .          .            .            .           .              .     .            .            .           .            .               .         .            .     .            .            .             .            .              .            .            .      .            .            .            .            .            .            .             .          .
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March 22, 2013, 05:42:59 PM
 #6

Some of the API's aren't working directly from MtGox this morning.
...
Some of the features I use stopped yesterday.  I assumed it was related to coinlab stuff.

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March 22, 2013, 06:27:58 PM
 #7

Some of the API's aren't working directly from MtGox this morning.
...
Some of the features I use stopped yesterday.  I assumed it was related to coinlab stuff.

The question is, do you find that acceptable ? Is there any official news about it ?
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March 22, 2013, 06:29:43 PM
 #8

On the Official Gox / CoinLab Integration and Transition FAQ thread, Mark (MagicalTux) said:
Hang on a second.  Where in the MtGox TOS does it say MtGox has the authority to sell sensitive identity information to third parties without the express written permission of the account holder.  Last time I checked with wasn't a merger.  I gave my identity documents to MtGox not Coinlabs.

Did it even occur to you that you have right to that information?  I guess not.  Client's identities are just something to be bought and sold to the highest bidder.  When you grow tired of playing Bitcoins I am sure you will sell off financial and identity information to anyone who will throw a few dollars your way.

MtGox did not sell users identities, and acted in the best interest of its users to ensure CoinLab had no access to said data.

None of users private information will be shared with CoinLab until the user accepts CoinLab's ToS on the site. If you choose to never accept CoinLab's ToS, then your data will never be shared with CoinLab.
I assume this means that you'll log in and be presented with a question and an Accept / Do Not Accept choice.

I thought that would happen today, but...
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March 22, 2013, 06:30:12 PM
 #9

Some of the API's aren't working directly from MtGox this morning.
...
Some of the features I use stopped yesterday.  I assumed it was related to coinlab stuff.
just use data.mtgox.com on the api URL

Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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March 22, 2013, 06:34:19 PM
 #10

An email was sent out earlier this week (I'm guessing to anybody who had signed up for beta?).  They have hit some delays, which are pushing back the 3/22 date a few weeks.

RIP BTC Guild, April 2011 - June 2015
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March 22, 2013, 06:37:42 PM
 #11

An email was sent out earlier this week (I'm guessing to anybody who had signed up for beta?).  They have hit some delays, which are pushing back the 3/22 date a few weeks.
Thanks! Good to know.
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March 22, 2013, 06:44:34 PM
 #12

An email was sent out earlier this week (I'm guessing to anybody who had signed up for beta?).  They have hit some delays, which are pushing back the 3/22 date a few weeks.

Nothing wrong about that - how's this communicated ? Their webpage still shows the 22th..
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March 22, 2013, 06:54:30 PM
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Hello,

First off -- Wow! Thanks for all the support. We’ve received so many positive comments, notes, calls, you’ve been great. That makes us happy. We owe you all a bunch of updates and answers to some common questions.

In brief, we’re slipping our date back probably a couple of weeks, but are almost ready for the alpha list. Read below for more details.

Status Update

We’ve transitioned two major customers over as of a couple weeks ago. Things are going smoothly with them, and so we’ll be sending out invites to everyone on the Alpha list shortly.

What’s working:

    Gox Website (looks the same as ever)

    Gox APIs (work the same as ever)

    Depositing to Silicon Valley Bank (details will be on your account page)

    Withdrawing by wire from SVB (details will be on your account page)


What’s coming soon:

    Customer Support through the Gox ticketing system

    Dwolla deposit / withdraw

    CoinLab Terms of Service acceptance on Gox


What’s coming later:

    We’re working a plan with Gox that may end up allowing them to hold the ‘hot wallet’ coins and leave cool and cold storage in our secure environment. We’ll know more soon.

    Alternate forms of payment / withdrawal

    Better UI at Gox


Next Steps

Once our Terms of Service are up on Gox, we’ll send out a link to you. Click that link, accept the ToS, and we will get you ‘transitioned’ shortly thereafter.

I anticipate we’ll be able to send out the link in the next few days; we’re just waiting on some integration efforts on the Mt. Gox website.

If that transition is smooth, we’ll push the button for everyone shortly thereafter. If it’s not, then we’ll take our time to make sure we’ve got it right, and keep up the communications.

Thanks for the support, and the patience!


Peter Vessenes and the CoinLab team

Received @ 13:00 UTC, Thursday March 21st.

RIP BTC Guild, April 2011 - June 2015
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March 22, 2013, 07:02:58 PM
 #14

It would be very interesting to know exactly how their 'cold storage' arrangements are. The question is, can we trust them ?
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March 22, 2013, 07:12:25 PM
 #15

It would be very interesting to know exactly how their 'cold storage' arrangements are. The question is, can we trust them ?

I would not.
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March 22, 2013, 07:47:28 PM
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What’s working:

    Gox APIs (work the same as ever)

Same as ever? Uh oh, that's _not_ good Sad

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March 22, 2013, 09:18:18 PM
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In brief, we’re slipping our date back probably a couple of weeks, but are almost ready for the alpha list. Read below for more details.


I see. So everyone can send their coins back to gox for a few more weeks.
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March 23, 2013, 02:51:19 AM
 #18

Glad I'm not in the US, so can continue using Mt. Gox normally.

P.S. I was just on the Coinlab site and noticed this page: http://coinlab.com/computing

So this means if you are running mining software someone can basically be renting out your computer as botnet...huh?



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Herodes
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March 23, 2013, 07:43:49 AM
 #19

So this means if you are running mining software someone can basically be renting out your computer as botnet...huh?

I believe there would be needed some special software for that... I'm starting to get worried about this Coinlan deal... they're all over the place, trying to do everything at once.


Quote
The Bitcoin network is the largest distributed computation cluster in the world. We help it's members provide their computation ability to the highest bidder.

CoinLab's technology can access that computation for other tasks.

What the fuck is this - it doesn't make much sense to me.

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March 23, 2013, 07:47:32 AM
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So this means if you are running mining software someone can basically be renting out your computer as botnet...huh?

I believe there would be needed some special software for that... I'm starting to get worried about this Coinlan deal... they're all over the place, trying to do everything at once.


Quote
The Bitcoin network is the largest distributed computation cluster in the world. We help it's members provide their computation ability to the highest bidder.

CoinLab's technology can access that computation for other tasks.

What the fuck is this - it doesn't make much sense to me.




They dont have focus. The CEO sounds like a drug addict in an interview (cant stay calm throughout)

Their HPC is left in dust.
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