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Author Topic: [UNRESPONSIVE POOL OPERATOR] 50BTC.com  (Read 240383 times)
xuemike
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October 22, 2013, 12:34:27 PM
 #881

Was there any btcs stolen
that's the question everyone wants to know
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PilotCurly99
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October 22, 2013, 01:28:07 PM
 #882

Maybe some of their coins were already stolen during the hack, if they restore the balance, they will take a huge hit on their own bitcoins

I think it is reasonable that they spread the loss among each miner, this is a system risk that everyone is facing when mining on pools

That is completely backwards.  Miners should NOT take a hit when the pool loses money due to their own mistakes.  ANY responsible pool owner should be absorbing whatever loss they take.  The only time the reverse should even be an option is if the pool is forced to shutdown entirely.  If the pool remains online, miners shouldn't see a single bitcent removed from their real balances.  Too bad in this case the majority of miners won't have a clue what their real balance should be since the problem still hasn't been resolved.

Absolutely concur with your comments.  Thank you.  Sure wish they would communicate.   So I am moving my 1.1TH over to BTCGuild based on the professionalism you exhibited here.  Way too many people want to shift their risk on to groups of individuals in this industry (yes, I am referring to BFL).  If 50BTC would have owned up and said, we didn't properly manage our risk, we will manage it correctly going forward, and here is our plan to get back on track, they could have salvaged their business.   In my opinion, if they don't act really fast and start communicating, they are completely dead. 

Since they haven't even answered my e-mails and then came on this forum and attempted to keep selling their hardware and not even answer the community's questions, my opinion of them is accurately reflected by their current hash rate.

People that owe me money (in order of amount):
Social Security and Welfare Recipients
BFL
50BTC

sead
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October 22, 2013, 03:07:24 PM
 #883

my trust is lost now. this is a good example for bad communication. i am not even sure if they speak english or know bablefish? (ref. to the latest copy and paste posts for 50btc - without any word to the real important questions in this thread. even if i would be able to withdraw now - i am done - moving....

friday: "please be patient - might take up to 24h"
wrong AND no info updates for 50h+

sunday: "technical support response can take up to 3 days."
wrong. still no reply

also this great info that the shop was not affected (for me its seems they were pushed by their hardware coops to release that statement). they MUST know what the real question is....

sorry for being a ____ but I think this is the only option to get some info:

"Someone at IRC wrote some hours ago that he got the insider info THAT ALL BTCs were stolen."
- please prove that this is wrong.
sead
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October 22, 2013, 03:15:08 PM
 #884

full ack - but wtf  Wink

Quote
People that owe me money (in order of amount):
Social Security and Welfare Recipients

ah I see Mr Rand. So good luck to you and your future health. karma is a ... wouldn't it be funny if you would owe yourself money in near or far future :]
azw409
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October 22, 2013, 09:58:31 PM
 #885

Dear 50btc,

My balance has become corrupted and I can't withdraw it and you've now stopped crediting any mining shares so obviously I've moved elsewhere.

Please restore my balance and allow me to withdraw it. If you can't recover it, I'll happily settle for 10% of the 776 btc balance that's currently showing.

Thanks
An amorous cow-herder
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October 22, 2013, 10:41:05 PM
 #886

50btc,

i neither hold a grudge nor do have anything to to gain except for the minor loss i had  gained in shares (haha, yeah, i know its gone anyways, probably).
Anyways, if you want a standard security scan done which may uncover vulneribilities you dont see locally just mail me. I´ll do that for free.

miner49er
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October 22, 2013, 10:52:25 PM
 #887

Can anyone confirm or deny the reference to IRC chat below that they lost everything?
No hot/cold wallet? no reserve? really? REALLY?!!
PilotCurly99
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October 23, 2013, 03:22:32 AM
 #888

full ack - but wtf  Wink

Quote
People that owe me money (in order of amount):
Social Security and Welfare Recipients

ah I see Mr Rand. So good luck to you and your future health. karma is a ... wouldn't it be funny if you would owe yourself money in near or far future :]

Sead, sorry if I offended you.  I won't bore everyone else here with our opposing viewpoints.

The issue on this thread is why 50BTC won't provide any answers!  If you lost everyone's Bitcoins that were waiting to be paid out, just tell us.  I lost about a day and a half's worth of mining.  Not the end of the world, but sure would have appreciated a head's up that you had stopped paying out, rather than letting us continue mining on your pool.

Just like everyone else, I want the Bitcoins I mined! But alas, I guess they are gone, as is your mining pool...  You know there was someone else that claimed they were hacked and lost everyone's BTC...  I wonder...
sead
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October 23, 2013, 04:53:44 AM
 #889

PilotCurly99, dude np - I rely respect that everyone has its own view on things :] i just felt exactly like u think (ok I got my bfl miner now - and I did not invest to mutch money) but waiting for 1y and 1m was a big pain.

so my hypothesis is that its true that all coins are gone or that 50btc owners are amazingly stupid. still no statements and the statements they do include not the info everyone want to know. I try not to be pissed becasue A - I tried to withdraw on a daily basis before, and B - I am the 'fool' who put my trust in 'them'. *shift their risk on to groups of individuals in this industry" - exactly.

PilotCurly99
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October 23, 2013, 11:42:13 AM
 #890

To be fair to 50BTC, I just received a support answer from them:

Hello!

We're doing our best to restore the service, but unfortunately we can't provide you the exact date.

Our work on this case is constantly interrupted by a DDoS attack.

User's balance data was corrupted, please provide us your balance amount before the attack.

Thank you for your patience.





I answered them honestly, but unfortunately, I'm sure there are people who will take advantage of this situation. The thing is that if people do lie about their balances it will make it impossible for 50BTC to balance the books and start paying anyone.  I am pleasantly surprised that they answered me back!  Maybe they will fix the damage?
Midnight Man
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October 23, 2013, 12:36:16 PM
 #891

User's balance data was corrupted, please provide us your balance amount before the attack.

O.o  Was there no backup of data or balances that they could refer back to?

As you say, leaving this down to the reports from members of their balances prior to the attack opens up a huge potential for them to be defrauded Sad
hotwired007
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October 23, 2013, 12:50:39 PM
 #892

User's balance data was corrupted, please provide us your balance amount before the attack.

O.o  Was there no backup of data or balances that they could refer back to?

As you say, leaving this down to the reports from members of their balances prior to the attack opens up a huge potential for them to be defrauded Sad

When i logged in i tried to recover my 33 BTC and it wouldnt payout to me Sad i'm going to ask them if they can pay it out to me...
itsgoldbaby
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October 23, 2013, 02:22:22 PM
 #893

My balance before the data corruption was .33 BTC. They can easily confirm this by my hash rate and last payout date. I don't care about what I made from the corruption time to the time I moved my miner either. Just fix my balance ! :-(
arklan
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October 23, 2013, 09:00:11 PM
 #894

My balance before the data corruption was .33 BTC. They can easily confirm this by my hash rate and last payout date. I don't care about what I made from the corruption time to the time I moved my miner either. Just fix my balance ! :-(

agreed. only looking at .05 for me.
miner49er
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October 24, 2013, 12:35:00 AM
 #895

ok, this one is for the "grassy-knoll" folks out there:

Did 50BTC.com do this to themselves?
Tongue

Has anyone out there gotten their balances adjusted or any payments processed?
better yet, anyone out there want to confess that they got an invalid payout and is holding some ill-gotten gain?
..... *crickets chirping*

 
goligo
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October 24, 2013, 07:34:29 AM
 #896

[...]
Did 50BTC.com do this to themselves?
Tongue
[...]

Why should they have done so? At 120 TH/s the pool still generated about 220 BTC per day, so the 3% PPS were about $40k per month for the pool at current exchange rates.

I guess the more interesting question is, if they really have lost all bitcoins in the pool wallet, do they have any interest in restoring the balances?
arklan
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October 24, 2013, 12:51:48 PM
 #897

[...]
Did 50BTC.com do this to themselves?
Tongue
[...]

Why should they have done so? At 120 TH/s the pool still generated about 220 BTC per day, so the 3% PPS were about $40k per month for the pool at current exchange rates.

I guess the more interesting question is, if they really have lost all bitcoins in the pool wallet, do they have any interest in restoring the balances?

if the bitcoins are gone, restoring out balances is largely pointless, since they won't be able to pay us, and the vast majority of us would not return to mine there. this could well be the death of this pool.
Humax
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October 24, 2013, 01:18:09 PM
 #898

ok, this one is for the "grassy-knoll" folks out there:

Did 50BTC.com do this to themselves?
Tongue

Has anyone out there gotten their balances adjusted or any payments processed?
better yet, anyone out there want to confess that they got an invalid payout and is holding some ill-gotten gain?
..... *crickets chirping*

 

Not here. Lost about 2 BTC.....and I bet nobody will get their bitcoins because there is no way they could pay for all stolen bitcoins themselves.

Help me feed my hamster! Donate sunflower seeds!
Miramyn
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October 24, 2013, 01:23:32 PM
 #899

I guess I'm one of the lucky ones, only out 0.11 btc from there. Still hurts (thats a couple weeks mining for me) but not a major loss in the grand scheme of things.

Almost a week now with no serious update other than the store is still working.
Even if they do recover and restore the site, not sure I would trust it again and I'm sure there are lots of others with the same feeling

R.I.P. 50btc.com

Rent Your Hashing Power HERE!!!         
Earn Interest With Your Bitcoins or Apply for a Loan        
When I was younger we didn't have behavioural disorders. They called it "being a brat". It was as simple as that!
xuemike
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October 24, 2013, 06:30:35 PM
 #900

There seem to be some life left.
My account is some how showing the correct amount owed right now.
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