bitfloor issues?

[Rassah]

After getting the check, there is still the issue of finding a bank to deposit it into, wait for it to clear, get set up to send a whole bunch of transactions to a lot of different people, some of the transactions being tens of thousands of dollars. For large sums he may have to set up the AML and KYC stuff for the new bank, too, since the new bank might balk at him trying to send so much money to otherwise anonymous people.

sounds reasonable to me .. wouldn't it be nice to hear any of this from Roman?

Yes. Yes it would.

[Stampbit]

Wow, all this work and lost profit because his bank didnt like his business. He could have just switched banks and been on his way.

[SpottedMarley]

meanwhile, we go from an ETA of 10 days (as of 11 days ago)

to now no ETA at all! (as of yesterday)

sounds like we're definitely heading in the wrong direction

[FenixRD]

meanwhile, we go from an ETA of 10 days (11 days ago)

to now, no ETA at all!

sounds like we're definitely heading in the wrong direction

Yeah, I had expected to hear that they had their check and were now investigating what the fck they can do with it. The 5-1 quote sounds like they don't even have it yet, which would be different from expectations.

Maybe anyone is interested, but it was discussed earlier how reasonably believable it was that his bank (ING 360, now owned by Cap1 btw) could close an account without any reason. The thread consensus and my own knowledge is that yes, they can. I just ran into this article:

http://business.financialpost.com/2013/04/27/bitcoin-canada-banks/

Funny quote in the article too:

"“Only in Canada do you get a situation where a bank can shut down your account and you’re out of business,” said Melvin Ng, an engineering student at the University of Waterloo and the founder of what is likely the country’s newest bitcoin exchange, Cadbitcoin."

Not only in Canada, Melvin...

[LordGobbletooth]

Really glad I only had a couple bucks in there.

[zedicus]

banks dont stop business owners from sending out emails to their customers letting them know their $ is at risk!

banks dont stop business owners from having an open dialog with their customers after events like this.

banks dont stop businesses from being transparent so that their user base is confident even when disaster strikes.

banks dont stop businesses from engaging clients via social media outlets, the same outlets that were used for support when they were taking youre money.

banks dont stop people from being a stand up people ...  




There is nothing about capital one that would stop roman from reaching out to the user base of bitfloor and assuring them their funds are safe and in route!



Then only thing stop this from happening is -------------->>>  BITFLOOR


 







There i said it. A lil transparency goes along way..  

[SpottedMarley]

banks dont stop business owners from sending out emails to their customers letting them know their $ is at risk!

banks dont stop business owners from having an open dialog with their customers after events like this.

banks dont stop businesses from being transparent so that their user base is confident even when disaster strikes.

banks dont stop businesses from engaging clients via social media outlets, the same outlets that were used for support when they were taking youre money.

banks dont stop people from being a stand up people ...  

There is nothing about capital one that would stop roman from reaching out to the user base of bitfloor and assuring them their funds are safe and in route!

Then only thing stop this from happening is -------------->>>  BITFLOOR

There i said it. A lil transparency goes along way..  

Exactly. There is much more going on here than just waiting for a bank to issue a check because if that's all there was to it, we'd hear some reassuring words. It is quite obvious that there is a very real possibility that we aren't getting our money back and, in that case, any reassurance to the contrary issued by Roman right now would be admissible in the upcoming law suit(s) against his company for stealing from his own customers.

[SpottedMarley]

Really glad I only had a couple bucks in there.

Luck you! You know what fucking annoys me the most about this whole fucking thing? As a rule I NEVER would have had that much USD in my account under normal circumstances, but when Roman tipped his friends  off ahead of time that he was shutting down it created a huge bitcoin buying demand by those lucky few getting rid of their USD at whatever price possible, drove the price way up, smart traders like me, having no idea what was about to happen, saw this spike rising and took advantage of the demand and I did what I NEVER do and I sold a nice big chunk of BTC. I forget what it was, like 20BTC I think and planned to buy back in as soon as the price stabilized.. but no sooner than I sold my coin and before I even had a chance to create a buy order Bitfloor halts trading and Im sitting here with $4k USD in my account ... I NEVER HAVE THAT MUCH USD IN MY FUCKING ACCOUNT.

There is so much shady suspicious bullshit going on here it makes sick that I ever felt any sort of trust for that fucking criminal.

[dohse]

Really glad I only had a couple bucks in there.

Luck you! You know what fucking annoys me the most about this whole fucking thing? As a rule I NEVER would have had that much USD in my account under normal circumstances, but when Roman tipped his friends  off ahead of time that he was shutting down it created a huge bitcoin buying demand by those lucky few getting rid of their USD at whatever price possible, drove the price way up, smart traders like me, having no idea what was about to happen, saw this spike rising and took advantage of the demand and I did what I NEVER do and I sold a nice big chunk of BTC. I forget what it was, like 20BTC I think and planned to buy back in as soon as the price stabilized.. but no sooner than I sold my coin and before I even had a chance to create a buy order Bitfloor halts trading and Im sitting here with $4k USD in my account ... I NEVER HAVE THAT MUCH USD IN MY FUCKING ACCOUNT.

There is so much shady suspicious bullshit going on here it makes sick that I ever felt any sort of trust for that fucking criminal.

Same exact story here, but with different numbers.

[DataPlumber]

Really glad I only had a couple bucks in there.

Luck you! You know what fucking annoys me the most about this whole fucking thing? As a rule I NEVER would have had that much USD in my account under normal circumstances, but when Roman tipped his friends  off ahead of time that he was shutting down it created a huge bitcoin buying demand by those lucky few getting rid of their USD at whatever price possible, drove the price way up, smart traders like me, having no idea what was about to happen, saw this spike rising and took advantage of the demand and I did what I NEVER do and I sold a nice big chunk of BTC. I forget what it was, like 20BTC I think and planned to buy back in as soon as the price stabilized.. but no sooner than I sold my coin and before I even had a chance to create a buy order Bitfloor halts trading and Im sitting here with $4k USD in my account ... I NEVER HAVE THAT MUCH USD IN MY FUCKING ACCOUNT.

There is so much shady suspicious bullshit going on here it makes sick that I ever felt any sort of trust for that fucking criminal.

Same exact story here, but with different numbers.

Ditto.  I was mildly shocked but happy when my sell filled, but now that I know why, I'm far less happy.

[Rassah]

It is quite obvious that there is a very real possibility that we aren't getting our money back ...

It is? Is there some source that supports this? Or is it just a feeling you have? Roman is always ridiculously quiet about everything. Even when the 25kBTC hack happened. I would actually fault him for that quite a bit myself: that's not how you run a business, regardless of what happens.

meanwhile, we go from an ETA of 10 days (as of 11 days ago)

to now no ETA at all! (as of yesterday)

sounds like we're definitely heading in the wrong direction

Sounds like it's about time for Bitfloor to hire Inaba as their PR rep, though that would also mean the repayments will actually start to go out in February

[zedicus]

Keep in mind Roman may have good intentions but a lawyer might be telling him to keep his mouth shut!


Its only been one day since the 10 day.. so not really nothing to bat an eye @
but 10 days from now .. id hate to be in this thread let alone in Romans shoes!!

[Minor Miner]

Keep in mind Roman may have good intentions but a lawyer might be telling him to keep his mouth shut!
Its only been one day since the 10 day.. so not really nothing to bat an eye @
but 10 days from now .. id hate to be in this thread let alone in Romans shoes!!

Why would he need to lawyer up?

[SpottedMarley]

Why would he need to lawyer up?

seriously? do have any idea how much liability he is swimming in at this moment?

and that's not even including the liability he is still under from the theft that occurred last August.

[Minor Miner]

Why would he need to lawyer up?

seriously? do have any idea how much liability he is swimming in at this moment?
and that's not even including the liability he is still under from the theft that occurred last August.

Please enlighten me.   I realize he has civil liability for his careless loss of his customers' 23,000 bitcoins.   What other legal problems do you think he could have?

[Rassah]

Why would he need to lawyer up?

seriously? do have any idea how much liability he is swimming in at this moment?
and that's not even including the liability he is still under from the theft that occurred last August.

Please enlighten me.   I realize he has civil liability for his careless loss of his customers' 23,000 25,000 bitcoins.   What other legal problems do you think he could have?

Liability, not "legal problems." Two different things. As for "what other?" Owing a bunch of people tens of thousands of USD after the bank close is the other one.

[Minor Miner]

Why would he need to lawyer up?

seriously? do have any idea how much liability he is swimming in at this moment?
and that's not even including the liability he is still under from the theft that occurred last August.

Please enlighten me.   I realize he has civil liability for his careless loss of his customers' 23,000 25,000 bitcoins.   What other legal problems do you think he could have?

Liability, not "legal problems." Two different things. As for "what other?" Owing a bunch of people tens of thousands of USD after the bank close is the other one.

then he really does not have that much more liability since he already owes all these people 23,000 which he will never be able to repay.

[zedicus]

He might of just told everyone what the bank told him and he's waiting just like everyone else

so 1 day past the 10 days he said ... not really earth shaking.

If we are in this thread 30 days later talking about why hes not saying anything! Well thats a whole different story.

Even 10 days from now, hell a couple more pages in this thread!... The tone of this conversation is gonna change real quick.. Im sure it wont be the last time you hear the word lawyer. I was just saying he might be in between a hard place and a rock himself and has to to keep quiet.

[DataPlumber]

It is quite obvious that there is a very real possibility that we aren't getting our money back ...

It is? Is there some source that supports this? Or is it just a feeling you have? Roman is always ridiculously quiet about everything. Even when the 25kBTC hack happened. I would actually fault him for that quite a bit myself: that's not how you run a business, regardless of what happens.

From the moment we let the money out of our direct control, there's been a very real possibility of not getting it back.  The only question is that of probabilities.  And speaking objectively, the longer it's being held by Bitfloor, the worse that probability gets.  Roman's reputation is the only reason most of us have any hope at all.

n.b. This includes fiat in bank accounts we "control."  Ask people in Cyprus about that.  Haircuts are probably not coming to the US anytime soon, but when it comes to any country, they won't announce it in advance, because that would defeat the whole purpose.  (It can be argued that there is no greater Ponzi scheme than our fractional reserve banking system.)

Hell, even if you stuff your mattress with cash, its "value" is being silently leeched away via inflation.

What I don't understand is how they managed to make the holding (um, "hoarding") of gold illegal in 1933 without a widespread backlash.  The hubris of even considering the action shocks me.  But then, it was the middle of the Great Depression, so I presume most people had better things to worry about, like food and shelter.

...Sometimes I wish I'd never heard of Bitcoin, because what I've learned since is a whole big series of very uncomfortable truths.

[DataPlumber]

Incidentally, "We are still waiting to hear back from the bank regarding our remaining account balance" suggests to me that they may have received the check, but that it was for an amount less than they were expecting.