Vibanko.com - FREE New Wallet Service by Bitcoin Consultancy

[malbritten]

Oh and as far as I know they're the only ones working on getting government recognition as a commodity, so their exchanges can be covered by insurers etc. I suspect and hope that a service like this would also come under such coverage in the future particularly if it's linked to exchanges.

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[1715182776]

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[1715182776]

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[joepie91]

No i really did not know who you are but, With all this talk about wallet theft. Sorry no disrespect. Only wanting people to be careful so we may get passed all this wallet theft.

The only thing that is worse than trusting someone without due diligence, is calling someone a scammer without due diligence.

Oh and as far as I know they're the only ones working on getting government recognition as a commodity, so their exchanges can be covered by insurers etc. I suspect and hope that a service like this would also come under such coverage in the future particularly if it's linked to exchanges.

uhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

The beautiful thing about Bitcoin is that you have a choice. If you don't like government involvement, then use another service.

Now, for fucks sake, go troll elsewhere.

[malbritten]

No i really did not know who you are but, With all this talk about wallet theft. Sorry no disrespect. Only wanting people to be careful so we may get passed all this wallet theft.

The only thing that is worse than trusting someone without due diligence, is calling someone a scammer without due diligence.

Oh and as far as I know they're the only ones working on getting government recognition as a commodity, so their exchanges can be covered by insurers etc. I suspect and hope that a service like this would also come under such coverage in the future particularly if it's linked to exchanges.

uhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

The beautiful thing about Bitcoin is that you have a choice. If you don't like government involvement, then use another service.

Now, for fucks sake, go troll elsewhere.

Ok, so you join a community who values it's commodity for having no government regulation and claims it as one of its virtues and then you work real real hard to do the exact opposite.  Do you think once the government gets involved in regulating just a few exchanges they'll be just pleased with themselves and leave BTC as a whole alone?

Keep up the good work on undoing the whole point of BTC!

Also: pointing out logical inconsistencies is now trolling!

[joepie91]

No i really did not know who you are but, With all this talk about wallet theft. Sorry no disrespect. Only wanting people to be careful so we may get passed all this wallet theft.

The only thing that is worse than trusting someone without due diligence, is calling someone a scammer without due diligence.

Oh and as far as I know they're the only ones working on getting government recognition as a commodity, so their exchanges can be covered by insurers etc. I suspect and hope that a service like this would also come under such coverage in the future particularly if it's linked to exchanges.

uhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

The beautiful thing about Bitcoin is that you have a choice. If you don't like government involvement, then use another service.

Now, for fucks sake, go troll elsewhere.

Ok, so you join a community who values it's commodity for having no government regulation and claims it as one of its virtues and then you work real real hard to do the exact opposite.  Do you think once the government gets involved in regulating just a few exchanges they'll be just pleased with themselves and leave BTC as a whole alone?

Keep up the good work on undoing the whole point of BTC!

Also: pointing out logical inconsistencies is now trolling!

I think you don't really understand the idea of Bitcoin.

[malbritten]

I think you don't really understand the idea of Bitcoin.

Oh. Guess BTC is supposed to be government-regulated then.

[joepie91]

I think you don't really understand the idea of Bitcoin.

Oh. Guess BTC is supposed to be government-regulated then.

I already gave away the clue in pretty much my first response to you. Learn to read.

The beautiful thing about Bitcoin is that you have a choice. If you don't like government involvement, then use another service.

Tip: BTC is not supposed to be government-regulated. It's also not supposed to be exclusively non-regulated. It's supposed to give you the choice.

Keyword: choice.

[malbritten]

K. You didn't actually read my post prior to last. You may reply when you actually do.

[Donald_Norman]

Hi,

with the recent events, I am glad to see people are being skeptical. However, yes we have been around for quite a while and our faces are out there. Our group has done many projects and we're all full time working on bitcoin.

[BusmasterDMA]

Oh and as far as I know they're the only ones working on getting government recognition as a commodity, so their exchanges can be covered by insurers etc. I suspect and hope that a service like this would also come under such coverage in the future particularly if it's linked to exchanges.


Great project guys and thanks for contributing.

I agree.  It is encouraging to hear someone is undertaking such efforts.  Good luck and keep us updated on the progress of your endeavor.

Is your corporation registered in the UK?  To me, that alone inspires more confidence than one based in Nevis.  While I still prefer to keep the bulk of my coins offline, I may consider your service for small day-to-day transactions. 

[genjix]

This is our contact info:

support@britcoin.co.uk

Intersango Ltd
3rd Floor 14 Hanover Street
London
England
W1S 1YH

[Gavin Andresen]

Potential questions for the FAQ; these are all questions I wish I had insisted on getting answered before trusting MyBitcoin with some of my coins:

Are the bitcoins on deposit bonded or insured against theft or loss?

Are the bitcoins on deposit backed up off-site? How often?

How many people have access to the wallet? How do you know you can trust them, or how are they audited?

What happens if you decide Vibanko is not a viable business and has to be shut down?

[cypherdoc]

and why does Amir and Don keep saying on the air they want bitcoin to be "regulated"?

malbritten has a point, what the heck does that mean?  i think its sounds stupid if thats really what they want.

if you guys really mean "recognized" then i'll agree with you.  but if the UK gov't gets to make the rules and change bitcoin to what it wants, then forget it.  whats to stop them from coercing Amir and Don once they get their hands into the market?

[Donald_Norman]

Hi BigPiggy,

Thanks for the support. For a long time we've been working on a Version 2 software for Intersango/Britcoin. It will come out hopefully in the next week or so and when it does it will be much more intuitive and have way more features.

[phantomcircuit]

Bitcoin communtiy: Trust NO ONE to hold onto your BTC....unless they say you can really really trust them.

We should be focusing more on getting people to secure their BTC personally than going down the same road over and over.  Even if the operators of an online wallet are 100% honest good-guys haven't we seen that setting yourself up as a singluar target is asking to be hacked and possibly losing everyone's BTC.

Countdown to lulz-a-caust begins now.

By all means if you think you think it's better to store your BTC with yourself then do so.  I would love it if everybody know enough to do so safely, but realistically they don't.  Some people gain a lot by trusting someone else with their BTC.

[phantomcircuit]

Potential questions for the FAQ; these are all questions I wish I had insisted on getting answered before trusting MyBitcoin with some of my coins:

Are the bitcoins on deposit bonded or insured against theft or loss?

Getting insurance for bitcoin holdings is practically impossible, mostly due to the potential for massive swings in value.

Are the bitcoins on deposit backed up off-site? How often?

An encrypted copy of the live wallet is stored in multiple physical locations.  Both online storage and offline.
Additionally we will only be keeping enough funds in the live wallet to handle predicted daily turn over.

These are the same steps we take with britcoin and the intersango sites. (note that we do not run the brazilian exchange using the intersango software).

How many people have access to the wallet? How do you know you can trust them, or how are they audited?

Currently I alone have immediate access, however both genjix and donald have access to backups of the live wallet and offline wallets should something happen to me.

What happens if you decide Vibanko is not a viable business and has to be shut down?

We would disable deposits and maintain the site at our expense until all funds had been withdrawn.

[Donald_Norman]

I would like to clarify what we mean by regulation.

What we are looking for is regulation in the sense of recognition as someone pointed out. We are pretty sickened by the lack of consequences for fraud, criminal negligence and a slew of other offenses.

We are not looking to have bitcoin itself regulated, but rather those who are providing services which would otherwise be regulated. Especially services which hold other people's funds.

Services which negligently lose other's funds or simply steal them should be held responsible for their actions. The current wild-west free-for-all will continue to see bitcoin scandal after bitcoin scandal and widespread adoption of bitcoin will take forever. The day a merchant site can no longer say "Sorry we're not paying you back your bitcoins" without repercussion will be the start of widespread adoption. Merchants will start respecting their clients.

[sirk390]

we take absolutely no commission.

What is your business model?

Asking for commissions could help trust the service.
For example, Mtgox now earns more in a few years of commissions than they would in a one time theft.
They are thus unlikely to runaway with the bitcoins.

[phantomcircuit]

we take absolutely no commission.

What is your business model?

Asking for commissions could help trust the service.
For example, Mtgox now earns more in a few years of commissions than they would in a one time theft.
They are thus unlikely to runaway with the bitcoins.

Merchant services which will be added in the future will have a small commission.

Citing MtGox as an example of how to properly run a bitcoin service has got to be a joke.

[sirk390]

Citing MtGox as an example of how to properly run a bitcoin service has got to be a joke.

Hum...I took them as example of service that makes a lot of money.

[Donald_Norman]

We put up an about us page and the FAQ questions that were asked here. As per our business model, Intersango's UK branch britcoin if/when monetized will cover our operational costs. However, we are trying to provide a free service for as long as possible.

When it comes to exchanges I am for the most part not worried about them running away with the money, more them allowing other people to run away with the money. Phantomcircuit (Patrick Strateman) our security specialist was trying to contact Mark Karaples (owner of MtGox) for days before the crash happened to warn about security leaks.

When we warned him about a previous exploit the site wasn't even taken down to fix it.

At Britcoin we have taken the site down many times to address things which are not even security concerns.