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Author Topic: [ANN] Want to buy Bitfloor / Roman Shytlmann bad debts  (Read 2229 times)
Entropy-uc
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March 26, 2013, 10:43:22 PM
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As many of you know, I have been bitching about Roman's decision to seize bitcoin from his customers at Bitfloor for a long time.  Roman continues to refuse to show any plan that would result in his involuntary creditors being reimbursed in this decade.

I am considering legal action, but would need to hold more debt in order to make such action worth my time.  This post is seeking holders of Bitfloor obligations that would like to transfer those obligations to me.

I am offering 2 possible payments:
  • A flat 0.05 BTC per 1.0 BTC of current Bitfloor debt
  • Payment of 0.01 BTC per 1.0 BTC of Bitfloor debt, plus 20% of any funds recovered from Roman and Bitfloor less expenses for the recovery.

You will have to provide absolute proof of ownership of any debt, and sign legal documents attesting to both your ownership of the account and transferring control of the debts to me.

If you are interested, please PM me with the subject BITFLOOR, and give this thread a bump.
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TheButterZone
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March 26, 2013, 10:52:51 PM
 #2

https://bitcointalk.org/index.php?topic=106395.0
https://bitcointalk.org/index.php?topic=113547.0
https://bitcointalk.org/index.php?topic=112054.0

Saying that you don't trust someone because of their behavior is completely valid.
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March 26, 2013, 11:01:53 PM
 #3

PM'd.
EnergyVampire
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March 27, 2013, 02:57:00 PM
 #4

As many of you know, I have been bitching about Roman's decision to seize bitcoin from his customers at Bitfloor for a long time.  Roman continues to refuse to show any plan that would result in his involuntary creditors being reimbursed in this decade.

I am considering legal action, but would need to hold more debt in order to make such action worth my time.  This post is seeking holders of Bitfloor obligations that would like to transfer those obligations to me.

I am offering 2 possible payments:
  • A flat 0.05 BTC per 1.0 BTC of current Bitfloor debt
  • Payment of 0.01 BTC per 1.0 BTC of Bitfloor debt, plus 20% of any funds recovered from Roman and Bitfloor less expenses for the recovery.

You will have to provide absolute proof of ownership of any debt, and sign legal documents attesting to both your ownership of the account and transferring control of the debts to me.

If you are interested, please PM me with the subject BITFLOOR, and give this thread a bump.

The
  • A flat 0.05 BTC per 1.0 BTC of current Bitfloor debt
sounds like a good deal. How much is your balance? How would you transfer the account?

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March 27, 2013, 03:24:23 PM
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As many of you know, I have been bitching about Roman's decision to seize bitcoin from his customers at Bitfloor for a long time.  Roman continues to refuse to show any plan that would result in his involuntary creditors being reimbursed in this decade.

Is English not your first language, or are you just an uninformed idiot? Bitfloor didn't seize bitcoin from his customers, the coins were stolen. There is no coin to seize. And the "plan" was set up almost from the get-go, which is that this debt will be visible, on the books, and repaid out of the profits whenever any money becomes available.
Or is there some other money that Bitfloor is hiding, and there is some other plan that you are looking for?

bb113
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March 27, 2013, 05:35:40 PM
 #6

My problem with it is you will give 5% when he has paid 2.5% in less than a year and volume is increasing. He just needs to communicate more is the problem. This plan has proven unsatisfactory because it takes too long:

Quote
As clients are aware. The theft result in all BTC balances being put on hold for both trading and withdrawal. This is still the case. I will not be doing a balance reset or otherwise manually adjusting your bitcoin balance to reflect the theft. Any new bitcoin deposits you make will be available for use as usual and be reflected on your account overview page. Your balance as of the theft will remain on hold and be released in parts as we begin to recover funds to pay back balances. As funds are available for repayment, they will be dispersed on a pro-rated basis (i.e. if 5% of the funds are available for repayment then 5% of your original pre-theft balance will be unheld and immediately available for trading or withdrawal).

https://plus.google.com/109620439233076225324/posts
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March 27, 2013, 05:43:07 PM
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My problem with it is you will give 5% when he has paid 2.5% in less than a year and volume is increasing. He just needs to communicate more is the problem. This plan has proven unsatisfactory because it takes too long:


My back-of-the-envelope calc says the repayment rate is somewhere in the 7% per year vicinity. Now, what a fair market rate is for the debt is hard to say, until we see it start trading.
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March 27, 2013, 06:16:27 PM
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My problem with it is you will give 5% when he has paid 2.5% in less than a year and volume is increasing. He just needs to communicate more is the problem. This plan has proven unsatisfactory because it takes too long:

Quote
As clients are aware. The theft result in all BTC balances being put on hold for both trading and withdrawal. This is still the case. I will not be doing a balance reset or otherwise manually adjusting your bitcoin balance to reflect the theft. Any new bitcoin deposits you make will be available for use as usual and be reflected on your account overview page. Your balance as of the theft will remain on hold and be released in parts as we begin to recover funds to pay back balances. As funds are available for repayment, they will be dispersed on a pro-rated basis (i.e. if 5% of the funds are available for repayment then 5% of your original pre-theft balance will be unheld and immediately available for trading or withdrawal).

https://plus.google.com/109620439233076225324/posts
In retrospect, 0.05 BTC / 1 BTC does seem a bit low.  I'd still consider selling though, because future payments aren't exactly a guaranteed thing at this point.
Entropy-uc
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March 27, 2013, 09:09:20 PM
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My problem with it is you will give 5% when he has paid 2.5% in less than a year and volume is increasing. He just needs to communicate more is the problem. This plan has proven unsatisfactory because it takes too long:

Quote
As clients are aware. The theft result in all BTC balances being put on hold for both trading and withdrawal. This is still the case. I will not be doing a balance reset or otherwise manually adjusting your bitcoin balance to reflect the theft. Any new bitcoin deposits you make will be available for use as usual and be reflected on your account overview page. Your balance as of the theft will remain on hold and be released in parts as we begin to recover funds to pay back balances. As funds are available for repayment, they will be dispersed on a pro-rated basis (i.e. if 5% of the funds are available for repayment then 5% of your original pre-theft balance will be unheld and immediately available for trading or withdrawal).

https://plus.google.com/109620439233076225324/posts

I also offered to share any profits if you want to take some risk.

It is going to be costly to move forward.  Just the legal bills to put together a clear conveyance of debts to me could push $10k.  Then lawyers need to be educated on bitcoin and find the applicable regulations and form an argument.

I will lose money doing this.  100% certain.  The only reason I am considering it, is that I believe it is very unhealthy for the community to allow the precedent that depositors can be forced to carry the burden of failure.

Communication on Roman's part would put us in a totally different place.  Unfortunately he has been silent, which shows great disrespect for the people he owes over $2M to as of today.  I expect the silence is on advice of counsel.  I also expect we are approaching a point where the lack of action will be viewed by a court as consent.
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March 27, 2013, 09:09:40 PM
 #10

In other news, I tried to withdraw the coins that were released today, but the transaction doesn't seem to have gone through. It says the transaction has occurred on my account page, but it hasn't been broadcasted to the bitcoin network yet. Anyone else have trouble with this?

I withdrew, and got the blockchain.info/address/* beep for it within 5 minutes.

Saying that you don't trust someone because of their behavior is completely valid.
bb113
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March 27, 2013, 11:12:38 PM
 #11

My problem with it is you will give 5% when he has paid 2.5% in less than a year and volume is increasing. He just needs to communicate more is the problem. This plan has proven unsatisfactory because it takes too long:

Quote
As clients are aware. The theft result in all BTC balances being put on hold for both trading and withdrawal. This is still the case. I will not be doing a balance reset or otherwise manually adjusting your bitcoin balance to reflect the theft. Any new bitcoin deposits you make will be available for use as usual and be reflected on your account overview page. Your balance as of the theft will remain on hold and be released in parts as we begin to recover funds to pay back balances. As funds are available for repayment, they will be dispersed on a pro-rated basis (i.e. if 5% of the funds are available for repayment then 5% of your original pre-theft balance will be unheld and immediately available for trading or withdrawal).

https://plus.google.com/109620439233076225324/posts

I also offered to share any profits if you want to take some risk.

It is going to be costly to move forward.  Just the legal bills to put together a clear conveyance of debts to me could push $10k.  Then lawyers need to be educated on bitcoin and find the applicable regulations and form an argument.

I will lose money doing this.  100% certain.  The only reason I am considering it, is that I believe it is very unhealthy for the community to allow the precedent that depositors can be forced to carry the burden of failure.

Communication on Roman's part would put us in a totally different place.  Unfortunately he has been silent, which shows great disrespect for the people he owes over $2M to as of today.  I expect the silence is on advice of counsel.  I also expect we are approaching a point where the lack of action will be viewed by a court as consent.


I think similarly. He has, however paid out more than possibly collected by fees so far, and I think your money would be better spent on attempting to track those coins. That is something I haven't seen much effort on from anyone (myself included), but as they get more valuable it becomes more attractive. Comparatively, I see little to be gained in the long or short term by suing. Do you have any info on this lack of action date? From my understanding, usually it is a couple of years.


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March 28, 2013, 02:43:07 AM
 #12

I will lose money doing this.  100% certain.  The only reason I am considering it, is that I believe it is very unhealthy for the community to allow the precedent that depositors can be forced to carry the burden of failure.

What is the preferred outcome that you are looking for? Punishing Bitfloor by forcing the business to close? Prevent others from being able to use Bitfloor because you think it's a bad company? I sincerely doubt you'll be able to get any money out of it.
Also, PLEASE define "carry the burden of failure." What is this burden you speak of? (btw, this is why I thought English may be your second language, since burden implies there is something there to carry)

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March 29, 2013, 08:49:55 AM
 #13

I'm really pissed that I have some coins locked away right now.  I would love to do something about it but I'm not selling them for 5%
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December 08, 2017, 05:00:30 AM
 #14

this topic is not dead

there are 25 of us communicating off site, all victims of Roman Shytlman and his closure of Bitfloor in 2013
when Roman CHOOSE to shut down bitfloor because the Bank of America would not do business with him anymore

(just to be clear, we are not hack victims)

a lawsuit is forming though contacting the FBI might be more fruitful.

seriously, fuck Roman.

And Roman, if you are reading this, may be time to make a statement? or are you going to continue to pretend this isn't happening? what do you think is going to happen as BTC really skyrockets, and you owe millions to many individuals you screwed?

we know our BTC wasnt lost or hacked, you have simply held on to it thinking there were no consequences.
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December 08, 2017, 06:23:03 AM
 #15

Batman is angry.

Saying that you don't trust someone because of their behavior is completely valid.
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