i want instawallet to be accountable if their incompetence makes them run

[burgersburgers]

As i understand it one or two of the instawallet founders ir higher ups are users of this forum and im wondering if they have logged in or if they are hiding like guilty little children ? have they got anything to say for themselves about thier apparent display of utmost incompetence in the architecture of instwallet?

it seems that their promise of "opening claims forms" on everybodies wallet addresses is slowly fading and i personally think they know they are so stupid and incompetant that they consider its too hard to return money because they just dont know how to proceed and they are letting days pass in the hope that the community will forget about how stupid and incompetant they are.

i get the feeling the lack of talk about instawallet is going to put them in a position that they can just walk off with that huge wallet address of 40,000+ coins and nobody in these forums or the media is going to make much of a deal about it. I want them to be held up as examples and face legal and criminal consequences if they decide to run.

i also want to make sure all the other services they provide dont continue to run. i unnderstand they have 3 or 4 other services and if they end up keeping 40,000 instawallet coins because they are too incompetant i would not like them to be seen continuing to run other bitcoin services and not even be held accountable in these forums.

simply im trying to say i dont want fools continue to be allowed to be fools and i dont want fools to be allowed to become profiting thieves because "its too hard" to give people back their money.

if it turns out that they can run off with 40,000 coins and not face any legal action and the forum doesnt object then i want it to be made an example of to the world that you cannot get into legal trouble by stealing bitcoins and i hope that it screws the coins and that that forum guy thats in hiding now is oustracised by the community because he couldnt find the right guys to create, run or fix his service so he decides that profiting is a better solution.

i hope he reads this an understands that people like him need not to be ignored on the forums, but shitlisted from the community and that he cannot just keep the coins if he doesnt know what to do.

ill be watching and if he is forgiven in a day and he continues to come out here and sprout new services i am one forum member that is going to remind him..

mr instawallet - your 404 wallet errors look very suspicious to me. it looks like added incompetence on top of incompetence. perhaps next few days we'll discover mr instawallet forgot and lost the font he used for his logo and that will be reason to 404 his front page. perhaps he'll read this post and get upset about what ive written and say "stuff it, im not bothering with the 3.5million accounts anymore".

i want everybody in the media to report how he manages to deal with 40,000 coins and if he is accountable or obligated to return them. if there is no law against stealing bitcoins then i want the world to know that.

[voluntaryist]

Were you keeping your life savings in Instawallet or something? 

[burgersburgers]

i deposited 1000 dollars in there and within an hour of the deposit of it being sent to the address i was hospitalised for a week due to significant accident. unable to get access to the wallet the whole time.. the very moment i got the chance to do the get the url to make the move to a offline client i got the news so it was only 11.08 bc for me.

not significant, but this is not about me rather how they are phasing in 404 shutdowns which is very very suspicious. soon the main page might just vanish! i get the feeling the forum fanboys are going to sucker up to davout even if he keeps the coins and not make any noise if he creates new services in the future. this pace is so full of greed and no justice. i bet half the people here would shut their mouths about instawallet for a single coin because they think that coin will be worth a billion dollars in a year... oh lets just say a trillion dollars per coin in a month to keep them happy for today.

i want to see if there is any way an entity can "go to jail" for keeping the coins (aka stealing). it will be a watershed moment the entire world needs to know about if its the only thing there's no law against stealing or running an incompetent business. the instawallet devlopers should never have the oportunity to run anything related to money in real life or online because of their incompetance.

[DannyHamilton]

It really is a shame more people didn't see this advice sooner:

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I saw Instawallet which seems like a pretty easy

Yes. It is definitely easy.

and safe way to do casual transactions
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Whoa!  No way.  Absolutely not.  There is nothing "safe" about Instawallet.  The only thing that makes them usable at all is a history of apparently working properly most of the time.

When you use InstaWallet, you are handing your money over to a complete stranger.  The moment any bitcoins are sent to any InstaWallet address, it ceases to be "your bitcoins" and immediately becomes the property of InstaWallet. You are trusting that this complete stranger that you have never met and know nothing about will hopefully honor your requests when you ask them to send those bitcoins elsewhere.

Imagine you are walking down the street.  You pass someone with a card table set up on the corner.  They have a sign out that says "I'll keep track of your money for you".  You read one of the pamphlets they have printed up themselves and have laying around on the table.  The pamphlet explains that they are not insured, and they are not regulated by any government agency.  Their "business" may or may not continue to exist tomorrow, and you may or may not still find them on that street corner.  The pamphlet suggests that you take the cash out of the wallet in your back pocket and hand it over to the person standing behind the table.  That person will give you a card with a unique number written on it.  Anytime you call up a particular phone number, and identify yourself with the unique number on the card, you can ask them to deliver that cash anywhere you like (including back to yourself).  The pamphlet explains that this service is provided entirely free of charge, and anyone who happens to get a hold of that unique number can pretend to be you and they will honor that person's requests as if they were you.

Do you empty out your wallet and hand them the cash?  Do you give them any cash at all?  Do you have faith that they will honor all your requests to deliver the cash?  Do you have faith that they will continue to run this "free" business and not disappear once they have collected enough cash?  Do you look at them and wonder what sort of fool actually hands over the cash from their wallet to this completely unknown stranger running what appears to be a very odd business?

Of course seeing the advice might not have helped anyhow. Some follow up posts in that same thread:

I have been using Instawallet since I first got into Bitcoins. People who tell you not to use it honestly just want to wow you with their knowledge of bitcoins.
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I just point out that it is as safe as handing over your cash to a complete stranger and hoping that they are still there to give it back to you in the future when you ask for it.

How can one engage in online money transfers without involving strangers at some point in the transaction?

Although I never used them that analogy is not quite accurate. It's not like handing money to a random stranger around the corner. More like trusting a known dealer. Sure, if you trust someone there is the possibility that that trust s betrayed. That is the definition of trust.

Is instawallet a good entity to trust money? I would say, they appear to be a serious website
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