[BitFunder] btcQuick - Bitcoin Sales Service

[RiverBoatBTC]

https://docs.google.com/forms/d/1R7FxU7jHZQBDTGfeMbGMlGCxoWUYn-LhmDJyxyX8tLY
$69,000 worth of claims already made in the first day 


This guy had a tone of people's money from the looks of it.

Almost at 200k worth of claims.

[josh4580]

https://docs.google.com/forms/d/1R7FxU7jHZQBDTGfeMbGMlGCxoWUYn-LhmDJyxyX8tLY
$69,000 worth of claims already made in the first day 


This guy had a tone of people's money from the looks of it.

Almost at 200k worth of claims.

Riverboat,

We need proof of these investments for regulators. We need Bitfunder screenshots and screenshots of shareholder lists.

[RiverBoatBTC]

https://docs.google.com/forms/d/1R7FxU7jHZQBDTGfeMbGMlGCxoWUYn-LhmDJyxyX8tLY
$69,000 worth of claims already made in the first day 


This guy had a tone of people's money from the looks of it.

Almost at 200k worth of claims.

Riverboat,

We need proof of these investments for regulators. We need Bitfunder screenshots and screenshots of shareholder lists.

You do not, the investigator will request the release of information from the exchange owner. Think Mpex gave up satoshi dice records? Nope, they will get what they need do not fret. The real thing you should be worried about is if the GOV puts a judgement in before you. If they do that the liens will supersede any the actual stock holders have. Gov always gets money before anyone else. After he has paid whatever fines they see fit to slap him with you can then go after whatever is left.

[josh4580]

All BTCQuick Shareholders,

I need help with aiding the investigation into BTCQuick.

I need proof of stock purchases from Bitfunder but I cannot access my Bitfunder account.

Does anyone have any Bitfunder screenshots of their purchases/account history of BTC Quick stock?

Does anyone have any screenshots of the shareholder list that was on the website?

Let me know

Everyone, nevermind.  I was finally able to log into my Bitfunder account and PDF all my transactions.

[Ascension]

Ascension, please give some updates.

As soon as the money is released from the merchant account provider and the hold on our bank account is lifted we will make a final payout based on the bitfunder asset list.
The new merchant account required 10% of every transaction to be held in a 6 month rolling reserve. Every that remains dime will be returned. If anyone has questions you can PM me.

[penta]

how much money is in the merchant account(usd?), and where are the BTC gone?

[Bananery]

Ascension, please give some updates.

As soon as the money is released from the merchant account provider and the hold on our bank account is lifted we will make a final payout based on the bitfunder asset list.
The new merchant account required 10% of every transaction to be held in a 6 month rolling reserve. Every that remains dime will be returned. If anyone has questions you can PM me.

The remaining USD is less than a cent per share. Once again you say nothing about bitcoins. It only means you stole them. You're a thief. Everyone should put negative trust. And those who can should sue him.

[RiverBoatBTC]

What merchant account company are you using? Lets cross check with them.

[Bananery]

Hey scammer, why can't you answer a simple question? Where are the bitcoins?!

[Ascension]

Ascension, please give some updates.

As soon as the money is released from the merchant account provider and the hold on our bank account is lifted we will make a final payout based on the bitfunder asset list.
The new merchant account required 10% of every transaction to be held in a 6 month rolling reserve. Every that remains dime will be returned. If anyone has questions you can PM me.

The remaining USD is less than a cent per share. Once again you say nothing about bitcoins. It only means you stole them. You're a thief. Everyone should put negative trust. And those who can should sue him.

You need to reread the OP. "The remaining BTC will be used to increase btcQuick's rotating inventory supply to sell."
This means that we used the bitcoin supply as inventory in order to sell them to our customers.

[Ascension]

What merchant account company are you using? Lets cross check with them.

I provided a copy of the merchant account statement not to long ago. All the info you need can be found here.

[Bananery]

Ascension, please give some updates.

As soon as the money is released from the merchant account provider and the hold on our bank account is lifted we will make a final payout based on the bitfunder asset list.
The new merchant account required 10% of every transaction to be held in a 6 month rolling reserve. Every that remains dime will be returned. If anyone has questions you can PM me.

The remaining USD is less than a cent per share. Once again you say nothing about bitcoins. It only means you stole them. You're a thief. Everyone should put negative trust. And those who can should sue him.

You need to reread the OP. "The remaining BTC will be used to increase btcQuick's rotating inventory supply to sell."
This means that we used the bitcoin supply as inventory in order to sell them to our customers.

Exactly. Rotating. You sell bitcoins, and you buy exactly same amount from an exchange. So all bitcoins must be still there.

[Ascension]

Ascension, please give some updates.

As soon as the money is released from the merchant account provider and the hold on our bank account is lifted we will make a final payout based on the bitfunder asset list.
The new merchant account required 10% of every transaction to be held in a 6 month rolling reserve. Every that remains dime will be returned. If anyone has questions you can PM me.

The remaining USD is less than a cent per share. Once again you say nothing about bitcoins. It only means you stole them. You're a thief. Everyone should put negative trust. And those who can should sue him.

You need to reread the OP. "The remaining BTC will be used to increase btcQuick's rotating inventory supply to sell."
This means that we used the bitcoin supply as inventory in order to sell them to our customers.

Exactly. Rotating. You sell bitcoins, and you buy exactly same amount from an exchange. So all bitcoins must be still there.

No, it takes time to move the money from the merchant account to our bank account back to the exchange account. Bitcoins were purchased in real time with our customers.

[Bananery]

Don't act as a retard Jerrod. Every second scammer pretends to be a retard so people think the loss is due to incompetence. They think he's a retard, he lost it, he didn't steal it.

I know you're not a retard, taking your original post, you said it was rotating. It is the only way a service like yours can work. You always keep the same amount of bitcoins. The moment someone buys bitcoins from you at a rate higher than at an exchange, you buy the same amount. That's where the profit comes from.

And now you're saying your business was to take all the bitcoins from IPO and sell them all. Not rotate them, but sell them all.

You're not a retard, your business was rotating bitcoins, just like you said originally. I'm not buying your incompetence bullshit. Your strategy now is I-AM-A-RETARD-SORRY-FORGIVE-ME-I-LOST-EVERYTHING.

It was a theft, not incompetence. You're a criminal Jerrod. We need to sue this scammer and investigate it.

[RiverBoatBTC]

So your saying they are holding 4k in sales? and thats all you got?

[Bananery]

No, it takes time to move the money from the merchant account to our bank account back to the exchange account. Bitcoins were purchased in real time with our customers.

I'm not buying your bullshit. Even a 12 year old knows the price may jump 5 times in a matter of few days. Then your losses are huge. The only way this business could ever work, that you keep FIAT at exchange to buy the bitcoins right away cheaper than sold. It's the only way it can work.

Now you're telling me you're a retard who didn't know bitcoin exchange rate might jump up like crazy in a matter of few hours.

I'm not buying your I-AM-RETARD-SORRY bullshit. I know you're not that retarded. You stole everything. Probably with some sophisticated scheme during price peaks. Just admit it.

[Bananery]

I already know what this scammer will be saying. He'll say he had no idea that bitcoin price takes huge increases all the time. He'll say he thought bitcoin price is more stable than dollar. He'll say it's all because of slow banking.

He'll say that unfortunately the loss happened during the november peak. Just a bad coincidence. He'll say he thought that selling all IPO bitcoins without buying the same amount the moment they're sold seemed like an excellent business idea.

Can you really believe this guy he is that retarded? He's a scammer.

I recommend Jerrod that you give all your bitcoins back. I don't care if you think you're entitled to bitcoins you stole, and took for your "work". You're not entitled to anything. Give what you took back.

[Ascension]

I already know what this scammer will be saying. He'll say he had no idea that bitcoin price takes huge increases all the time. He'll say he thought bitcoin price is more stable than dollar. He'll say it's all because of slow banking.

He'll say that unfortunately the loss happened during the november peak. Just a bad coincidence. He'll say he thought that selling all IPO bitcoins without buying the same amount the moment they're sold seemed like an excellent business idea.

Can you really believe this guy he is that retarded? He's a scammer.

I recommend Jerod that you give all your bitcoins back. I don't care if you think you're entitled to bitcoins you stole, and took for your "work". You're not entitled to anything. Give what you took back.

Our initial supply of bitcoins were sold as users bought them from our site. The money then took 2-3 days to reach our bank account from our merchant account, and then another 1-2 days to wire the funds to bitstamp. We wired the USD funds back to bitstamp as often as possible, but the simple fact is that do what you propose would have required 3-5 times as much capital than we had on hand. When you sell bitcoins you hold cash. It is impossible, due to logistics, to instantly convert/maintain all funds in bitcoins. We did not receive a salary for any of the time we invested into btcQuick and we plan on returning everything that we have back.

[Bananery]

I already know what this scammer will be saying. He'll say he had no idea that bitcoin price takes huge increases all the time. He'll say he thought bitcoin price is more stable than dollar. He'll say it's all because of slow banking.

He'll say that unfortunately the loss happened during the november peak. Just a bad coincidence. He'll say he thought that selling all IPO bitcoins without buying the same amount the moment they're sold seemed like an excellent business idea.

Can you really believe this guy he is that retarded? He's a scammer.

I recommend Jerod that you give all your bitcoins back. I don't care if you think you're entitled to bitcoins you stole, and took for your "work". You're not entitled to anything. Give what you took back.

Our initial supply of bitcoins were sold as users bought them from our site. The money then took 2-3 days to reach our bank account from our merchant account, and then another 1-2 days to wire the funds to bitstamp. We wired the USD funds back to bitstamp as often as possible, but the simple fact is that do what you propose would have required 3-5 times as much capital than we had on hand. When you sell bitcoins you hold cash. It is impossible, due to logistics, to instantly convert/maintain all funds in bitcoins. We did not receive a salary for any of the time we invested into btcQuick and we plan on returning everything that we have back.

Exactly. You just proved my point. You're telling us you're a retard who didn't know bitcoin price can go up like crazy in two days. You're telling you're a retard who didn't know that the only way that business could ever work is to buy bitcoins right away after they're sold.

I don't propose anything. I'm just saying what is the only way the business can work. You don't need 3-5 times more capital. You can have very little capital to make it work. The only difference will be volume and profit.

I know people who do the same business for over a year on localbitcoins. They always buy same amount of bitcoins they sell right after selling. It's the only way this business can be profitable. It's only way to do business without risk of huge losses long term. Long term is longer that few months. Their profit is not that much, but they never risk their capital.

You say that I propose it like it's something new idea. You act surprized about this "proposal". It's not proposal, it's a simple fact that everyone knows. BITCOINS GET MORE EXPENSIVE VERY QUICKLY. Everyone who would be running business like yours knows that. It's common sense. Your intention was never to run this business more that a few month. It's impossible to run business other way longer than a few month.

It was all designed to scam us from the beginning. You knew very well it's impossible to run the business LONG TERM without always keeping same amount of bitcoins.

The plan was to wait for the next peak, stop business during the peak, and blame it on slow banking and surprising price increase. Then act like you didn't know that would happen.

It all worked quite well, didn't it? Just like you planned from the beginning. Take it all when the next peak is coming. You did it well. Some might even buy your I-AM-A-RETARD-SORRY-I-LOST-ALL-YOUR-BITCOINS bullshit. I'm not buying it.

Just give all your bitcoins back, it's the only way you can save your face.

[szmarco]

I already know what this scammer will be saying. He'll say he had no idea that bitcoin price takes huge increases all the time. He'll say he thought bitcoin price is more stable than dollar. He'll say it's all because of slow banking.

He'll say that unfortunately the loss happened during the november peak. Just a bad coincidence. He'll say he thought that selling all IPO bitcoins without buying the same amount the moment they're sold seemed like an excellent business idea.

Can you really believe this guy he is that retarded? He's a scammer.

I recommend Jerod that you give all your bitcoins back. I don't care if you think you're entitled to bitcoins you stole, and took for your "work". You're not entitled to anything. Give what you took back.

Our initial supply of bitcoins were sold as users bought them from our site. The money then took 2-3 days to reach our bank account from our merchant account, and then another 1-2 days to wire the funds to bitstamp. We wired the USD funds back to bitstamp as often as possible, but the simple fact is that do what you propose would have required 3-5 times as much capital than we had on hand. When you sell bitcoins you hold cash. It is impossible, due to logistics, to instantly convert/maintain all funds in bitcoins. We did not receive a salary for any of the time we invested into btcQuick and we plan on returning everything that we have back.

a total liar.