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Author Topic: Problems with bitcoin-24.com WARNING! UPDATE!  (Read 38043 times)
freethink2013
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April 12, 2013, 09:28:17 PM
 #81

I can understand if euros/dollars are locked up but we should be able to get bitcoin out as bitcoin aren't stored in some polish bank. Honestly I got into bitcoin to avoid banks so hearing you can't get your bitcoin back because some guy's bank account is suspended is bs.

I'll give it a couple of days before I spend my remaining btc on a hitman from silkroad.

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penthrite
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April 12, 2013, 09:37:20 PM
 #82

I have (had?) 15k€ on my account which are probably lost.
I have 10k in there, so "lost" my ass. Money don't get lost, it changes pockets. Exactly in which pockets are they? Could you tell that? The Polish account will probably be unfrozen soon, so that's not the problem. Isn't anybody interested in where the fuck their money is... Huh

What i fear is that Simon will be "forced" to use our deposits to cover the hole created by the multiple-selling bug, that has been the cause of all of this in the first place.
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April 12, 2013, 09:39:30 PM
 #83

I've met the guy a couple of times, so I feel I need to chime in to tell everyone to calm the fuck down.
[...]
I do not at all think that he just up and left.
I think his venture got larger than he expected, he ran into some serious technical trouble and some dipship went crying mommy to the police, who promptly shut the place down.
I never said this was a point where calling the police sounded like a good idea or where I thought I had lost all my coins for good. I still think there's a good chance of getting my stuff back, though it will likely not happen before Monday and if the weekend dip takes us to something like $10-$20 for the last time in Bitcoin history while I'm unable to trade, I will probably still feel justified in holding a bad opinion of Bitcoin-24 and never wanting anything to do with it again.

Also, even if everyone does get their money back, I think they should still use the scare they will have gone through as a lesson in attitude toward Bitcoin security (see link above - "Trust No One").

Lastly, I don't think the police shut down anything, as some order executions have continued to trickle out ever since he made the interface inaccessible and I don't think anyone would try to go against law enforcement measures in such a visible way.
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April 12, 2013, 10:00:44 PM
 #84

What exactly do you mean by "crying to the police"?  Do the police in Poland shut down a website doing financial trading because of "crying" or were they worried about a law being broken? 

So you met him a few times and he is an idealist.  But he put up a site that did financial transactions and was in over his head.  His lawyers are obviously not putting on pressure, because if they had been any good at all and if he had any juice at all before he got in this game his lawyers would have found a way to prevent "crying", so his lawyers, if they exist at all are not very talented.  Maybe his lawyers do the lights at his DJ gigs.



Of course laws were broken. German laws. And I am guessing that some German lawpeople (we arr good wiz ze law, yu know) talked to some Polish law people who acted instantly.
For you know, fucking with the gov's finance/tax institutions is the worst you can do these days. I'll just throw some acronyms out there... KYC? AML? BAFIN?

If you think that lawyers will preemptively shield you from any and all legal complaints some (bavarian... baruthian... just guessing here...) assclown files, please assume otherwise.

I would think that it's the EUROs that are safe (since they're held by a bank) and the BTC are what's gonna disappear.

We'll see.
Stibit
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April 12, 2013, 10:01:55 PM
 #85

uh huh.

So it's early days in this new currency....

Did anyone think different ?
keinur
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April 12, 2013, 10:05:23 PM
 #86

Honestly, it scares me most the implication of the police and financial authorities than the possibility that the guy ran out with the money.

Everybody knows who evil is in this market, and in this case I'm quite sure it's not the guy.
donjoe
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April 12, 2013, 10:10:04 PM
 #87

I would think that it's the EUROs that are safe (since they're held by a bank) and the BTC are what's gonna disappear.
Well, at the very least I'd expect the 7000 BTC that are still visible in the (or just one of the?) colldwallet(s?) to remain available for proportional redistribution even if the whole thing is forced to shut down.
freethink2013
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April 12, 2013, 10:13:07 PM
 #88

this is what it feels like to be cypriot
superfire
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April 12, 2013, 10:14:00 PM
 #89

whats the latest update to this?
freethink2013
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April 12, 2013, 10:19:28 PM
 #90

whats the latest update to this?

still the same. amazing how much 'stuff' happens on a friday just before going home time. It gives crooks the weekend to escape. he's probably half way to south america by now.

Quote
Our Service is momentarily not available.
1. All funds (EUR, USD, PLN, GBP & Bitcoins) are safe.
2. All withdrawals will be gradually processed chronologically from another bank account.
3. The Polish authority closed your Bank account in Poland.
4. Our lawyers are working with high pressure on a solution.

We will back with Bitcoin-24 2.0 on when all declarations are finished.

All important Emails can be send to help@bitcoin-24.com
ivanc
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April 12, 2013, 10:20:47 PM
 #91

OK, this is my first post on this forum.

First of all, I would like to say that i have 21,000 EUR + approx 100 BTC on the bitcoin 24 exchange right now.
I actually started using this website this week, it sounded good, had had no major security breach, was paying people on time. So I exchanged BTC and made a withdrawal of 20,000 on the 07/04/2013. Because i thought the website was cool, I also made a donation of 1BTC (worth 200 EUR at that time) to the guy.
My username on this website is littlechubb05 by the way.

I'm quite pissed off now as you can imagine.

Simon fucked up badly:
- with the authorities (no KYC, etc.)
- with his engine (bugs in the engine resulting in wrong balances)
- with his customers (i sent him an email on the 08/04, never got any answer, despite the fact that i was his bigger donator that week...)

Now, looking at what others are saying about him, it looks like he's not a criminal or a scammer.
He just fucked up while trying to do good.
I'm not sure what to do right now, but what we need to do is help him, not put more pressure on him. Surely, his first iteration of Bitcoin 24 is now dead. But I think most of the money is still there, like 90% of it. Most of them will be frozen by the polish authorities though and might be kept for years, or maybe just taken away by the polish government. Who knows. But there is some hope that he can fix things too and we get our money back. Obviously, none of us will go back to Bitcoin 24.

I would also like to say that if the media catch this story, this will be a huge hit on Bitcoin in general. It's entirely possible that millions of Euros might be kept by the polish authorities. If the media know that, it can kill Bitcoin because nobody will ever trust the exchanges anymore. No exchange, no bitcoin.

On another note, who said Simon is also a DJ?
I doubt that, it might simply be a homonym.

Thanks for reading me.

Ivan
ivanc
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April 12, 2013, 10:26:44 PM
 #92

typo: littlechubba05

Now that i'm thinking about it, I should have offered Simon some help earlier on.
But i just came on Bitcoin 24 last week, and it took me some time to realize what was really happening.

I don't plan to take any legal action against him right now (not before a few weeks at least, if at all). I hope others will do the same, the wisest thing to do is to cool things down so we can get something back.
ivanc
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April 12, 2013, 11:11:54 PM
 #93

Is everybody sleeping already?  Wink
freethink2013
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April 12, 2013, 11:15:15 PM
 #94

Is everybody sleeping already?  Wink


thought we were back:( may as well sleep tbh
anon24
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April 12, 2013, 11:35:26 PM
 #95

I would think that it's the EUROs that are safe (since they're held by a bank) and the BTC are what's gonna disappear.
Well, at the very least I'd expect the 7000 BTC that are still visible in the (or just one of the?) colldwallet(s?) to remain available for proportional redistribution even if the whole thing is forced to shut down.


There are a couple of cold wallets, see here:

https://bitcointalk.org/index.php?topic=174600.msg1821468#msg1821468

Total of 18k coins in addresses linked to Simon Hausdorf

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EdsWow1
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April 12, 2013, 11:57:13 PM
 #96

The only thing i'm wondering about is to whom the money that were used to multiple-sell were taken. If it was from the buyer, we would have seen people complaining about buying 10 bitcoins and paying them as 20 or multiples, but i haven't read any. There seem to be only multiple selling instances. So where do the extra money come from? There must be a hole somewhere, just to know where it is.

Thought of the same .... - mostly people just got too much .... more then what they should have gotten.... so somehow, the hole will be on bitcoin-24 itselve. its obvious, that he (Simon) himself pays and paid the dept on the male-doubles.... ...

so, right... he is to blame for communication and technique faults and that all the acounts, bitcoins, money is now *locked* - but still... if we all get back to our accounts and holdings, still he will be maybe the only one, who lost some coins !

Donations (btc): 1GPKvRoY8HopqGgTLAFfJxhtTRYp89Yauj ♥♥♥ THX - Muchas Gracias - Dankeschön - Merci - Спасибо! - धन्यवाद! - شكرا - 谢谢 ♥♥♥
horsebox1
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April 13, 2013, 12:10:19 AM
 #97

Frustrating now being able to post in the rest of the forum. Has he ever posted here himself?

I hope there is some word soon and the funds are safe, jesus christ i hope so
ivanc
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April 13, 2013, 12:21:52 AM
 #98

Yes, apparently he posted on the forum last year.

A big problem is that apparently, Simon didn't know what a database transaction was until last month. That's what his post on stackexchange shows.
For those who are not versed in software developement, i will sum up quickly: his database will end up with a lot of erroneous transactions and balances, especially if the trading volume is high.

This is really bad. I think we need to ask to delete his post on stackexchange (and then delete my present post on here). It's the same, once people know that the second biggest exchange was run by a young beginning developer with no knowledge of transactions, it will be a big shock. I'm sure that even the MtGox developers are not that bad. And still, everybody is laughing at them after the debacle. It's only a matter of hours/days before the news catch the whole thing. And it won't be just Fox News with their Bitcoin bashing, it will be the serious tech press, with articles written by people with much more credibility.

Simon needs help. He's alone, facing all this. He's the developer, the lawyer, the customer support. Now his accounts are frozen. And he's only 24.

Let's go to bed. I hope he will ask us for help. There are a lot of professional and worldwide recognized developers on this forum that can give him a hand. People with experience with banking and law too.

See you guys  Smiley
freethink2013
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April 13, 2013, 12:29:50 AM
 #99

Yes, apparently he posted on the forum last year.

A big problem is that apparently, Simon didn't know what a database transaction was until last month. That's what his post on stackexchange shows.
For those who are not versed in software developement, i will sum up quickly: his database will end up with a lot of erroneous transactions and balances, especially if the trading volume is high.

This is really bad. I think we need to ask to delete his post on stackexchange (and then delete my present post on here). It's the same, once people know that the second biggest exchange was run by a young beginning developer with no knowledge of transactions, it will be a big shock. I'm sure that even the MtGox developers are not that bad. And still, everybody is laughing at them after the debacle.

Simon needs help. He's alone, facing all this. He's the developer, the lawyer, the customer support. Now his accounts are frozen. And he's only 24.

Let's go to bed.

See you guys  Smiley

looks like i've lost a couple of grand but this attitude of feeling sorry for people who have made a lot of money off people is bs. they can either do what they sold their service as or they can't and if they can't then they should refund everyone. people here seem to have the attitude oh this guy gave it a go and failed let's applaud him....he has thousands of bitcoins profit. let him fail after paying back everything he owes. as it stands he's a fraudster.

tell me why bit coin withdrawals are closed? it has zero to do with banks anywhere.

anon24
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April 13, 2013, 12:41:27 AM
 #100

tell me why bit coin withdrawals are closed? it has zero to do with banks anywhere.



probably because of the problems with the trading engine. if everyone withdraws their coins i imagine it will make the current situation more difficult to resolve than it already is - ie rolling back trades to get most accounts back to where they were will become impossible. can't say i am very comfortable with it though.

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