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mavink
Newbie
 Offline
Activity: 2
Merit: 0
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March 26, 2014, 06:23:11 AM |
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At this point there is only one thing Kumala can do to keep the exchange afloat: publish proof of reserves for all coins on the exchange. If he (or she?) doesn't nobody will fully trust Vircurex again, but if he does there is a huge competitive advantage versus sites like cryptsy and bter.
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mdtspain
Legendary
Offline
Activity: 1076
Merit: 1003
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March 26, 2014, 07:47:46 AM |
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I think they ran with the money!! Is there anybody who knows any details from the owner ( real name, adress....anything at all)
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rnicoll
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March 26, 2014, 08:09:53 AM |
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Still waiting for BTC from a failed withdrawal to either turn up in frozen, or the address it was sent to. Three emails left unreplied to (and yes, I'm still being polite)
Only good news being the reported fixing of the QRK wallet, so they're still out there somewhere.
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Dogecoin Core developer, ex-researcher, trader.
Unless stated otherwise, opinions are my own and do not necessarily reflect that of other Dogecoin developers.
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mhps
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March 26, 2014, 08:14:03 AM |
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Vircurex should airdrop some liquidity and get the wheel turning.
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TookDk
Legendary
Offline
Activity: 1960
Merit: 1062
One coin to rule them all
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March 26, 2014, 08:28:06 AM |
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Still waiting for BTC from a failed withdrawal to either turn up in frozen, or the address it was sent to. Three emails left unreplied to (and yes, I'm still being polite)
Only good news being the reported fixing of the QRK wallet, so they're still out there somewhere.
I have also send two unanswered email (and yes, I'm still polite too). I just want to know if the funds stuck in the failed tx is frozen or just "stuck". |
Cryptography is one of the few things you can truly trust.
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mhps
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March 26, 2014, 08:35:58 AM |
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Vircurex should airdrop some liquidity and get the wheel turning.
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cryptodevil
Legendary
Offline
Activity: 2170
Merit: 1240
Thread-puller extraordinaire
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March 26, 2014, 08:58:34 AM |
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Vircurex should airdrop some liquidity and get the wheel turning.
Vircurex should airdrop some liquidity and get the wheel turning. Posting it twice doesn't make it any less meaningless a statement. |
WARNING!!! Check your forum URLs carefully and avoid links to phishing sites like 'thebitcointalk' 'bitcointalk.to' and 'BitcointaLLk' |
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mhps
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March 26, 2014, 09:09:59 AM |
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Posting it twice doesn't make it any less meaningless a statement.
Oops. The page froze when I made the first post. The second time it went through. I thought the networks girl did something with the router. |
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rnicoll
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March 26, 2014, 09:50:25 AM |
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Vircurex should airdrop some liquidity and get the wheel turning.
Kind of requires they have money, and given how much people would claim the market trading with itself was a scam, is probably not a great idea. |
Dogecoin Core developer, ex-researcher, trader.
Unless stated otherwise, opinions are my own and do not necessarily reflect that of other Dogecoin developers.
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Arbitrageur
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March 26, 2014, 11:30:19 AM |
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they only way they can keep vircurex afloat is to raise new fresh capital and with that repay at least 50% of the frozen funds. I guess they would need at least 500 btc of injection. Maybe more. and the more they wait the worse it could be since ltc keeps going up and they are way big short of LTC right now.
there is still a huge market for cryptos, and vircurex can still make 20 btc a month of commissions. even more. but they need the support of the depositors that have frozen funds. I guess if they refund 50% of the frozen funds they will continue to trade on that platform (I will), otherwise this is pretty much dead forever.
Kumala are you reading?? are you listening?? find someone who want to finance your project and get another jump start at it. DO IT NOW!
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rnicoll
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March 26, 2014, 11:39:11 AM |
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they only way they can keep vircurex afloat is to raise new fresh capital and with that repay at least 50% of the frozen funds. I guess they would need at least 500 btc of injection. Maybe more. and the more they wait the worse it could be since ltc keeps going up and they are way big short of LTC right now.
there is still a huge market for cryptos, and vircurex can still make 20 btc a month of commissions. even more. but they need the support of the depositors that have frozen funds. I guess if they refund 50% of the frozen funds they will continue to trade on that platform (I will), otherwise this is pretty much dead forever.
Kumala are you reading?? are you listening?? find someone who want to finance your project and get another jump start at it. DO IT NOW!
Probably not what you want to hear, but recent losses including this take me past what I can afford to lose safely (I'm now below 50% of original investment, assuming funds in Vircurex are a lost cause), so whatever happens, short term I'm intending on unwinding my position as I can... |
Dogecoin Core developer, ex-researcher, trader.
Unless stated otherwise, opinions are my own and do not necessarily reflect that of other Dogecoin developers.
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shmoula
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March 26, 2014, 12:05:31 PM |
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. . . nobody will fully trust Vircurex again . . .
Reminds me MTGox last year after their "first troubles" and voila, see how many idiots were onboard after that  . Again and again, keep failing... |
Habbeat - beat your habits more effective way!!! Always empty box(no cat also no coin): 1SHM1tiur2iNBCVxCBr7vAJ84PrPZ6d6v
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mhps
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March 26, 2014, 12:17:36 PM |
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they only way they can keep vircurex afloat is to raise new fresh capital and with that repay at least 50% of the frozen funds. I guess they would need at least 500 btc of injection. Maybe more. and the more they wait the worse it could be since ltc keeps going up and they are way big short of LTC right now.
there is still a huge market for cryptos, and vircurex can still make 20 btc a month of commissions. even more. but they need the support of the depositors that have frozen funds. I guess if they refund 50% of the frozen funds they will continue to trade on that platform (I will), otherwise this is pretty much dead forever.
Kumala are you reading?? are you listening?? find someone who want to finance your project and get another jump start at it. DO IT NOW!
Probably not what you want to hear, but recent losses including this take me past what I can afford to lose safely (I'm now below 50% of original investment, assuming funds in Vircurex are a lost cause), so whatever happens, short term I'm intending on unwinding my position as I can... If it makes you feel better ... there have been many up and downs in the short history of cryptocurrency. In a few years, even a few months, you might well be glad that vircurex prevented you from fooling around with your coins when the market was weak. I think vircurex might have a better chance to survive the winter exactly because kumala responds slowly. This exchange doesn't appear to take a lot of resource to run. An opposite example was mcxnow before realsolid had to shut it down to take a rest -- he was like online 24 hours a day to run it. |
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rnicoll
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March 26, 2014, 12:32:56 PM |
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If it makes you feel better ... there have been many up and downs in the short history of cryptocurrency. In a few years, even a few months, you might well be glad that vircurex prevented you from fooling around with your coins when the market was weak. I think vircurex might have a better chance to survive the winter exactly because kumala responds slowly. This exchange doesn't appear to take a lot of resource to run. An opposite example was mcxnow before realsolid had to shut it down to take a rest -- he was like online 24 hours a day to run it.
Losses from buying too high are the majority, at least. I'm also partly investing in skills; as a developer, getting involved early on is good for the resume! However, very much I'm out of the market until it improves and/or I can patch the hole from my regular income. Trying to trade now would just lead to me making daft mistakes. Still, even just a "We know about the broken withdrawals, and they'll be credited to cold store/destination address shortly" announcement would be really nice so I know where I am! |
Dogecoin Core developer, ex-researcher, trader.
Unless stated otherwise, opinions are my own and do not necessarily reflect that of other Dogecoin developers.
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Arbitrageur
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March 26, 2014, 01:41:09 PM |
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As a VCX shareholder I'm interested when the quarterly report for Q4-2013 will be posted.
Q3 ended end of November, thus Q4 will be end of February. is he going to release it at all? was supposed to be a month ago |
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Arbitrageur
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March 26, 2014, 02:16:20 PM |
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kumala today logged in. he's reading for sure. kumala, we are angry as mad as you can imagine. do something to soothe the pain or there's no way out of this mess. you've got to raise fresh new capital and refund some depositors. give some incentive to keep trading on your exchange. I cannot bring any btc or ltc and keep working unless I've got something back from you. Find a partner, find someone, or put the money yourself. You can't keep an exchange running unless you have a few thousands btc to cover losses from your mismanagement. your company NAV has to be positive. amend this fucking situation asap. don't be worse than gox. Any proportional refund (for everybody, forget the scam bottom up bottom down distribution) above 30% would be a good start.
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TookDk
Legendary
Offline
Activity: 1960
Merit: 1062
One coin to rule them all
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March 26, 2014, 03:11:31 PM |
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Still, even just a "We know about the broken withdrawals, and they'll be credited to cold store/destination address shortly" announcement would be really nice so I know where I am!
+1 |
Cryptography is one of the few things you can truly trust.
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rnicoll
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March 26, 2014, 03:56:12 PM |
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+1
Also, if we end up with frozen funds, it would be nice to be able to trade them to a different frozen coin (i.e. I kinda want to be holding DOGE, not BTC, at the end of this debacle). Just knowing where my coins are would be a great start, though. |
Dogecoin Core developer, ex-researcher, trader.
Unless stated otherwise, opinions are my own and do not necessarily reflect that of other Dogecoin developers.
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Walter Rothbard
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March 26, 2014, 04:11:19 PM |
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+1
Also, if we end up with frozen funds, it would be nice to be able to trade them to a different frozen coin (i.e. I kinda want to be holding DOGE, not BTC, at the end of this debacle). Just knowing where my coins are would be a great start, though. It would be really innovative if the frozen funds became new currency types that you could trade to anything, even real currencies. In that way, people who hold debts from VCX could sell them for something real, to people who want to take the risk. The market could then decide on the likelihood of the debts ever being fully repaid. Personally, I doubt I'd buy any of the debt at all, but I'm sure some people would. |
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