The One
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March 04, 2014, 06:36:37 PM |
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timmmers
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March 04, 2014, 06:37:17 PM |
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2. Same as #1, but raise fees to expedite. ? That's saying we pay ourselves back by paying higher fees to cover the amount we're owed. This should come out of the admins funds and profits not users pockets, it was his responsibility not ours to secure the site. Paying it back over time in some way so that the exchange stays solvent makes sense, but higher fees simply means he loses nothing, we pay it all.
I'm also not clear if this involves all balances held there, or just BTC ones?
If you, for example, had a litecoin balance, would that be losing this %?
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Elokane
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March 04, 2014, 06:38:14 PM |
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I'd take shares for the missing BTC.
Any word on when withdrawals are going to be resumed? I have a bunch of AUR locked up.
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GreekBitcoin
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getmonero.org
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March 04, 2014, 06:40:20 PM |
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just giving the fee for some time would be enough i assume to return that 12% pretty fast.
i am in for shares too...
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ginko-B
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March 04, 2014, 06:42:29 PM |
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I would like to thank everyone for their support and understanding. It really means a lot. Having other people's money taken under my watch has made me feel just about as awful as I've ever felt in my life.
I think I should have a poll to determine how to pay the funds back. Here are the options I'm thinking:
1. Pay back over time with exchange fees. 2. Same as #1, but raise fees to expedite. 3. Sell shares of Poloniex to cover the debt; dividends paid regularly. 4. Award such shares to everyone immediately and consider that repayment.
Let me know if I'm forgetting an option here.
About recent deposits--it really wouldn't be fair to deduct deposits made after the BTC was taken. Obviously I should have posted a notice on the Balances page, but it is not difficult to make an exception for recent deposits.
I will be hiring a security programmer after this is dealt with.
I'd raise the fee to 0.3% or even 0.5% and additionally sell shares. You can then cover the dividends with the extra fee and with the shares you can pay back the 12%. Yes, this is a good proposal. To refine a bit further: 1. 30 day period of selling shares, say at $4M pre-money valuation, which is a fair valuation for a tech start-up with early traction but high-risk security flaws - eg. if you sell $1M worth of shares, you would be selling 20% of your Company at $4M pre- and $5M post-money. - to make this attractive to investors, you may also consider offering a 50% annual preferred return for two years to compensate for the high-risk nature of the operation (which would create a defined path for re-coup of initial capital investment) 2. If you fail to reach the full amount by selling shares, then also raise fees to 0.5% until the full-amount of the debt has been re-paid 3. Under this set-up, the "payment cascade" for incoming fees over the next 2 years would be as follows: - first, to pay account holders to make them whole (if not fully covered by proceeds from sale of shares) - second, to pay the 50% preferred return to equity holders - third, to distribute to equity holders pro rata with their equity share in the business
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romneymoney
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HODL
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March 04, 2014, 06:43:26 PM |
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Some of bitoins are stolen, but why the other withdrawals are disabled?
And why the deposit page is up and there is no real notice on the website? I'm losing the opportunity to buy mzc. Why should people who deposited money after the incident should be involved in this? I do not want to call this is a scam, but people who were not affected by the hacker are losing money and opportunities. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) This was a conscious decision to leave the deposit function intact while freezing the rest of the site. IMO it's a serious red flag that overshadows the seemingly honest OP.
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jtpeters
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March 04, 2014, 06:43:34 PM |
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Pretty much the same things were said in the coinmarket threads. It means nothing. It's a reference.
This thread was posted by Tristan, if there was a time to run, this was it - if he had bad intentions, why oh why is still here? and also when multiple people know his full details - he's top results on google with all his personal details going back many many years on the web. I'm not saying OP isn't honest. I'm saying your argument doesn't hold water.
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WaffleMaster
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March 04, 2014, 06:44:23 PM Last edit: August 17, 2018, 05:21:42 AM by WaffleMaster |
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![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fcdn2-b.examiner.com%2Fsites%2Fdefault%2Ffiles%2Fstyles%2Fimage_content_width%2Fhash%2F96%2Ff8%2F96f89a974ff5d0d7598029a9e66365ca.jpg%3Fitok%3DBBKndupj&t=665&c=qtrbu-d6wr_gpg) He's the guy in the picture right here LOOOL
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elmad
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March 04, 2014, 06:44:51 PM |
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Some of bitoins are stolen, but why the other withdrawals are disabled?
And why the deposit page is up and there is no real notice on the website? I'm losing the opportunity to buy mzc. Why should people who deposited money after the incident should be involved in this? I do not want to call this is a scam, but people who were not affected by the hacker are losing money and opportunities. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) Do you think that the "bug" is related just to BTC? If he opens withdrawal for other cryptocoins your altcoins will be stolen. You have to wait until he fixs the code. And I hope for you that you'll wait the right time, not a little. Because I think the code needs a major rewrite. In the first post busoni said his strategy to fix the code, and that was wrong. Someone in this thread wrote a useful post, pointing him to the right, I'd say "normal", strategy. I hope that he is considering these posts, and studying or collaborating with some programmer.
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leopard2
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March 04, 2014, 06:45:03 PM |
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I would like to thank everyone for their support and understanding. It really means a lot. Having other people's money taken under my watch has made me feel just about as awful as I've ever felt in my life.
I think I should have a poll to determine how to pay the funds back. Here are the options I'm thinking:
1. Pay back over time with exchange fees. 2. Same as #1, but raise fees to expedite. 3. Sell shares of Poloniex to cover the debt; dividends paid regularly. 4. Award such shares to everyone immediately and consider that repayment.
Let me know if I'm forgetting an option here.
About recent deposits--it really wouldn't be fair to deduct deposits made after the BTC was taken. Obviously I should have posted a notice on the Balances page, but it is not difficult to make an exception for recent deposits.
I will be hiring a security programmer after this is dealt with.
4. because that is how professional debt to equity swaps work. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Truth is the new hatespeech.
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jtpeters
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March 04, 2014, 06:46:56 PM |
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Some of bitoins are stolen, but why the other withdrawals are disabled?
And why the deposit page is up and there is no real notice on the website? I'm losing the opportunity to buy mzc. Why should people who deposited money after the incident should be involved in this? I do not want to call this is a scam, but people who were not affected by the hacker are losing money and opportunities. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) This was a conscious decision to leave the deposit function intact while freezing the rest of the site. IMO it's a serious red flag that overshadows the seemingly honest OP. Don't worry. everyone seems to be drinking the coolaid. I said the same things to people in the coinmarket forum. No one wanted to hear it. No one wants to see red flags until everyone else sees them. What you said is worth highlighting. "This was a conscious decision to leave the deposit function intact while freezing the rest of the site."
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jtpeters
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March 04, 2014, 06:49:12 PM |
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Some of bitoins are stolen, but why the other withdrawals are disabled?
And why the deposit page is up and there is no real notice on the website? I'm losing the opportunity to buy mzc. Why should people who deposited money after the incident should be involved in this? I do not want to call this is a scam, but people who were not affected by the hacker are losing money and opportunities. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) Do you think that the "bug" is related just to BTC? If he opens withdrawal for other cryptocoins your altcoins will be stolen. You have to wait until he fixs the code. And I hope for you that you'll wait the right time, not a little. Because I think the code needs a major rewrite. In the first post busoni said his strategy to fix the code, and that was wrong. Someone in this thread wrote a useful post, pointing him to the right, I'd say "normal", strategy. I hope that he is considering these posts, and studying or collaborating with some programmer. No plans to hire a security programmer until after this problem is 'resolved'. Another red flag.
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The One
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March 04, 2014, 06:50:17 PM |
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I would like to thank everyone for their support and understanding. It really means a lot. Having other people's money taken under my watch has made me feel just about as awful as I've ever felt in my life.
I think I should have a poll to determine how to pay the funds back. Here are the options I'm thinking:
1. Pay back over time with exchange fees. 2. Same as #1, but raise fees to expedite. 3. Sell shares of Poloniex to cover the debt; dividends paid regularly. 4. Award such shares to everyone immediately and consider that repayment.
Let me know if I'm forgetting an option here.
About recent deposits--it really wouldn't be fair to deduct deposits made after the BTC was taken. Obviously I should have posted a notice on the Balances page, but it is not difficult to make an exception for recent deposits.
I will be hiring a security programmer after this is dealt with.
I'd raise the fee to 0.3% or even 0.5% and additionally sell shares. You can then cover the dividends with the extra fee and with the shares you can pay back the 12%. Yes, this is a good proposal. To refine a bit further: 1. 30 day period of selling shares, say at $4M pre-money valuation, which is a fair valuation for a tech start-up with early traction but high-risk security flaws - eg. if you sell $1M worth of shares, you would be selling 20% of your Company at $4M pre- and $5M post-money. - to make this attractive to investors, you may also consider offering a 50% annual preferred return for two years to compensate for the high-risk nature of the operation (which would create a defined path for re-coup of initial capital investment) 2. If you fail to reach the full amount by selling shares, then also raise fees to 0.5% until the full-amount of the debt has been re-paid 3. Under this set-up, the "payment cascade" for incoming fees over the next 2 years would be as follows: - first, to pay account holders to make them whole (if not fully covered by proceeds from sale of shares) - second, to pay the 50% preferred return to equity holders - third, to distribute to equity holders pro rata with their equity share in the business If you went into Dragon Den with that proposal, the Dragons will be laughing their heads off and tell you to bugger off. As Theo would say, "why should i give you any of my children's inheritance"? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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jtpeters
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March 04, 2014, 06:50:33 PM |
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Personally, I think the owner of Poloniex did the right thing by saying what happened. We have to acknowledge that hackers and exploiters will steal funds time to time and when it does happen, its best to not to go the path of Mt. Gox. When someone does manage to steal funds, we as a community should get together and do our best to track exactly where the stolen money goes and hopefully the money eventually goes to some sort of money exchange service where we can alert the site.
Do you believe they're doing the right thing by: - Continuing to allow deposits but not withdrawls
- not having any notice on their main page OR deposit page
- not immediately sending out a notice to all customers by email
- deducting 12% of coins deposited after the "theft"
Again.. it has been 12+ hours after the incident I suppose most of you are willing to overlook the above red flags???
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bato323
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March 04, 2014, 06:52:06 PM |
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No plans to hire a security programmer until after this problem is 'resolved'.
Another red flag.
How many coins did you deposited to poloniex?
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Chiptuner
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March 04, 2014, 06:54:20 PM |
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And that who sent today BTC to poloniex what to do? As a result they didn't reach the destination.
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jtpeters
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March 04, 2014, 06:55:44 PM |
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The strategy of any magician is misdirection.
All of you are so busy thinking of the 4 "options". Shares? 12%? Raise fees?
All the while, you ignore the pink elephant in the room. The red flags that tell you something is wrong. But your subconscious doesn't want to hear it because we inherently believe in the good of our fellow human being.
The more minutes that pass while 1) there is no notice on the website; and 2) deposits are still being accepted; and 3) no email has gone out to everyone the more likely this is to be a trick in which we have all (willingly, by now) been aparty to.
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The One
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March 04, 2014, 06:55:47 PM |
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Some of bitoins are stolen, but why the other withdrawals are disabled?
And why the deposit page is up and there is no real notice on the website? I'm losing the opportunity to buy mzc. Why should people who deposited money after the incident should be involved in this? I do not want to call this is a scam, but people who were not affected by the hacker are losing money and opportunities. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) This was a conscious decision to leave the deposit function intact while freezing the rest of the site. IMO it's a serious red flag that overshadows the seemingly honest OP. Don't worry. everyone seems to be drinking the coolaid.I said the same things to people in the coinmarket forum. No one wanted to hear it. No one wants to see red flags until everyone else sees them. What you said is worth highlighting. "This was a conscious decision to leave the deposit function intact while freezing the rest of the site."Not everyone.......... Yes it is suspicious. All we have now is hope. All we need is fast and common sense approach, simple and exchange up and running. No crap about shares.
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| ..................... ........What is C?......... .............. | ...........ICO Dec 1st – Dec 30th............ ............Open Dec 1st- Dec 30th............ ...................ANN thread Bounty....................
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Zombie123
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March 04, 2014, 06:56:10 PM |
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Just read this thread. Deposited few Flaps this morning so they are stuck for now ?
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itsik78
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March 04, 2014, 06:57:31 PM |
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I would like to thank everyone for their support and understanding. It really means a lot. Having other people's money taken under my watch has made me feel just about as awful as I've ever felt in my life.
I think I should have a poll to determine how to pay the funds back. Here are the options I'm thinking:
1. Pay back over time with exchange fees. 2. Same as #1, but raise fees to expedite. 3. Sell shares of Poloniex to cover the debt; dividends paid regularly. 4. Award such shares to everyone immediately and consider that repayment.
Let me know if I'm forgetting an option here.
About recent deposits--it really wouldn't be fair to deduct deposits made after the BTC was taken. Obviously I should have posted a notice on the Balances page, but it is not difficult to make an exception for recent deposits.
I will be hiring a security programmer after this is dealt with.
3 + 4
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