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Author Topic: Bitinstant- Paxum Temporarily Suspended  (Read 7364 times)
herzmeister
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February 13, 2012, 09:37:34 PM
 #41

official statement? on a forum called "GoFuckYourself"? that's hilarious

is paxum so deeply rooted in the adult scene?

or is this a secret message? (wonder whom they address in that case then  Tongue)

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February 13, 2012, 09:48:03 PM
 #42

An executive at Paxum has been working with me since this happend. They have been more surprised at this than we were. Not only that, but they have been super responsive and extremely helpful in this matter.
I harbor no bad feelings toward them. Licensing takes years to obtain but can take minutes to lose.

More and more information is coming to light and although I cannot go into details *yet* alot of what has been said above is not accurate.

Paxum and I have a few conference calls with their partners set up for this week and if all goes well, we can have this resolved and back online in 1-2 weeks


Charlie...... as they say "good luck with that".

I have always supported Paxum, but I doubt that the pipes to BitInstant will be turned on again.

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I also cover the bitcoin economy for Forbes, American Banker, PaymentsSource, and CoinDesk.
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February 13, 2012, 09:59:49 PM
 #43

An executive at Paxum has been working with me since this happend. They have been more surprised at this than we were. Not only that, but they have been super responsive and extremely helpful in this matter.
I harbor no bad feelings toward them. Licensing takes years to obtain but can take minutes to lose.

More and more information is coming to light and although I cannot go into details *yet* alot of what has been said above is not accurate.

Paxum and I have a few conference calls with their partners set up for this week and if all goes well, we can have this resolved and back online in 1-2 weeks


Charlie...... as they say "good luck with that".

I have always supported Paxum, but I doubt that the pipes to BitInstant will be turned on again.

Your doubts are understandable, and trust me...I have them to.

All I'm saying is Paxum wants to have us back more then we want them back.

"In a free society, private payments should be covered by merchant-customer privilege just as attorney-client privilege covers confidential legal communication." - Jon Matonis, Director, Bitcoin Foundation
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February 13, 2012, 11:43:42 PM
 #44

Your doubts are understandable, and trust me...I have them to.

All I'm saying is Paxum wants to have us back more then we want them back.

But Charlie, what if they reinstate your account, but you are the only bitcoin related account open?  It won't do any good if the exchanges cannot get theirs open as well :/

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February 14, 2012, 12:09:24 AM
 #45

Your doubts are understandable, and trust me...I have them to.

All I'm saying is Paxum wants to have us back more then we want them back.

But Charlie, what if they reinstate your account, but you are the only bitcoin related account open?  It won't do any good if the exchanges cannot get theirs open as well :/

Read over what you just wrote one more time and tell me if you don't see the business benefits in what you just said.

Ill give you some time.........

..........Ok, I couldn't resist: If I'm the only one with a Paxum account, and we're integrated with every exchange, how do you see it play out?

1+1=2 my friend  Wink

"In a free society, private payments should be covered by merchant-customer privilege just as attorney-client privilege covers confidential legal communication." - Jon Matonis, Director, Bitcoin Foundation
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February 14, 2012, 12:17:55 AM
 #46

Dudes, forget about all this shit. The important part is that banking institutions are afraid of what bitcoin will do to them and are acting pro actively even before governments take actio on it.

And you know why is it that banks/finance are taking action before governments? Because they are the ones that tell the govs' what to do. There's the proof.

This may sound like silly tinfoilhat stuff but it's not, it's reality  Angry

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February 14, 2012, 12:24:21 AM
 #47

Dudes, forget about all this shit. The important part is that banking institutions are afraid of what bitcoin will do to them and are acting pro actively even before governments take actio on it.

And you know why is it that banks/finance are taking action before governments? Because they are the ones that tell the govs' what to do. There's the proof.

This may sound like silly tinfoilhat stuff but it's not, it's reality  Angry

Its true,

The Gov't will let nature take its course, if and when thats over, then they will act.

Charlie

"In a free society, private payments should be covered by merchant-customer privilege just as attorney-client privilege covers confidential legal communication." - Jon Matonis, Director, Bitcoin Foundation
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February 14, 2012, 12:37:00 AM
 #48

Dudes, forget about all this shit. The important part is that banking institutions are afraid of what bitcoin will do to them and are acting pro actively even before governments take actio on it.

And you know why is it that banks/finance are taking action before governments? Because they are the ones that tell the govs' what to do. There's the proof.

This may sound like silly tinfoilhat stuff but it's not, it's reality  Angry

chill dude, we are the ones with the resources making the real money, they are only speculating with it. You slowly leave them aside by not using their services and, i tell you, that really hurts.
My only hope now is that TH guys will opensource their platform someday in the future, you will see exchanges pop all around you  Smiley

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February 14, 2012, 12:52:31 AM
 #49

Quote
It's very telling that, even though they have accounts here, they posted that thread there, but not here. I'd respect them more if they would have said that they rejected us to our face, so to speak.

Quote
they would rather post on a forum that calls itself gof**kyourself

classy, Paxum, real classy

Quote
official statement? on a forum called "GoFuckYourself"? that's hilarious

is paxum so deeply rooted in the adult scene?

or is this a secret message? (wonder whom they address in that case then

Quote
rabble rabble rabble

Quote
blah blah blah

Quote
etc

GFY is one of the major adult business forums online.  It is unsuprising that Paxum would make an announcement there, because the adult business is a big deal to Paxum, unlike Bitcoin.   All this talk of conspiracy pressures and whatnot fail to take into account that the portion of Paxum's (or any other mainstream or semi-mainstream financial company's) revenue that comes from Bitcoin is infinitesimal.  No matter what the potential of Bitcoin business in the future, when you're running a business you have to live in the present, and when some nickel-and-dime operation gets a disproportionate amount of the negative press you're reading, the simple answer is just cut it off and see what happens.  

Anybody who was in the digital currency business between say 2002 and 2007 saw this exact script play out with PayPal, Moneybookers and other mainstream institutions against e-gold and other DGCs.  One by one, the mainstream companies just nixed the DGCs, because it was less of a headache, expense and potential liability to not deal with them at all, than to take chances on uncertain legalities and rampant fraud that was a fact of life in that business.

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February 14, 2012, 12:53:50 AM
 #50

Dudes, forget about all this shit. The important part is that banking institutions are afraid of what bitcoin will do to them and are acting pro actively even before governments take actio on it.

And you know why is it that banks/finance are taking action before governments? Because they are the ones that tell the govs' what to do. There's the proof.

This may sound like silly tinfoilhat stuff but it's not, it's reality  Angry

chill dude, we are the ones with the resources making the real money, they are only speculating with it. You slowly leave them aside by not using their services and, i tell you, that really hurts.
My only hope now is that TH guys will opensource their platform someday in the future, you will see exchanges pop all around you  Smiley

Chill?? I'm excited, damn it! These are great news, if you know what I mean... Wink

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