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Question: Which jurisdiction do you think Bitcoinica will be registered in?
Bahamas - 10 (6.7%)
Belize - 9 (6%)
Cyprus - 9 (6%)
Grand Cayman Islands - 20 (13.4%)
Hong Kong - 34 (22.8%)
Ireland - 1 (0.7%)
Isle of Man - 6 (4%)
Jersey - 2 (1.3%)
Pyongyang - 7 (4.7%)
Seychelles - 6 (4%)
Switzerland - 6 (4%)
UK - 1 (0.7%)
Vanuatu - 5 (3.4%)
Some where else - 19 (12.8%)
No where man - 14 (9.4%)
Total Voters: 93

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Author Topic: Bitcoinica Inc  (Read 5833 times)
stochastic
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February 20, 2012, 01:24:04 AM
 #41

Where is bitcoinica's servers at?

Introducing constraints to the economy only serves to limit what can be economical.
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February 20, 2012, 04:16:17 AM
 #42

Where is bitcoinica's servers at?

It runs on Heroku I think.  At least it used to.

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February 20, 2012, 04:27:42 AM
 #43

Where is bitcoinica's servers at?

It runs on Heroku I think.  At least it used to.

Now it's in Rackspace Cloud ORD1 data center.

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February 20, 2012, 05:23:29 AM
 #44

Pyongyang had me dying, but hey - the Ryugyong monstrosity is almost completed! Only took 25 years...

I'm curious about the criteria - is a tiny country really the best choice, despite them generally being the most financially open?

Cuba is interesting, although there are still plenty of lingering communist/social leanings even after the recent moves to open up for free markets. Maybe in a few more years?

Brazil might be good, as it'd be hard for any other nation to enforce its own monetary law on such a large nation.

St. Kitts & Nevis been good for a while. Vanuatu as well, from what I know about it.

Nobody's mentioned Chile, where Tradehill is based. There's also Cook Islands, Estonia, and Poland. The only African nation so far has been Nigeria, which could actually work out well.

How about going completely insane, even beyond NK? I'll cast my vote by saying the business should be established at Kish Island.



Here's the big boost - open & legitimised trade with China, India, and Russia. Effective exposure to the most vital energy resource in the world: oil. If oil wealth flows into Bitcoin, that's an even bigger boost than western adoption.

Who knows, it could even stabilise the region?
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February 20, 2012, 07:01:38 PM
 #45


Nobody's mentioned Chile, where Tradehill is based. There's also Cook Islands, Estonia, and Poland.

Poland? Can you elaborate?

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February 20, 2012, 07:41:05 PM
 #46

kish island,  this is what the problems with iran is truly about. it has nothing to do with nuclear ambitions it has to do with the oil exchange on kish island that is NOT accepting dollars in exchange for oil. it is a move by Iran to dethrone the dollar as the worlds reserve country.

i would set up in russia. the usa cannot boss them around telling them what to do


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February 20, 2012, 11:02:24 PM
 #47

British Virgin Islands, surely! as are many tax efficient financial services
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March 22, 2012, 01:12:02 AM
 #48

over 1 month now & no news on this, Linode hax prob didn't help I guess, any eta Zhou?

a couple of days ago I finally got out of the nightmare scenario of being trapped in a large high $5s base price long position on Bitcoinica which would have been fine as my ZT price was in the $2s originally & I was happy to wait long term & could have kept it at 1:1 leverage np, until that was he unilaterally decided to start taxing long positions with swap charges, to me this is just Bitcoin wild west no rules rule - I'm waiting to see if his stated registration goes through because once it does I intend to claim back that swap money just removed from my account by changing without notice the conditions under which it was deposited & making my position long term untenable so that I had to close it for a big loss as I believe this sort of action is totally illegitimate in any jurisdiction

anyone else who's suffered because of this pse to let me know & we can coordinate to recuperate this blatant rip off with damages also for overall position loss if it hadn't happened once we were locked in

it's so nice atm to finally be out of that & tomorrow off for a long weekend without having to follow every price movement & the feeling of having trusted way too much money to someone who just makes the rules up to suit themselves as they go along, honestly I was amazed to get anything back out at all in that scenario - never again!

BTC = $c²     My BTC addie = 1otohotohMoQoxHuxLBveQiZcV3Pji3Tc 
Bitstamp Exchange: Referal Code
CHARITY | MY REP | PREDICTION 1 | PREDICTION 2 | PREDICTION 3
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March 22, 2012, 01:33:55 AM
 #49

over 1 month now & no news on this, Linode hax prob didn't help I guess, any eta Zhou?

a couple of days ago I finally got out of the nightmare scenario of being trapped in a large high $5s base price long position on Bitcoinica which would have been fine as my ZT price was in the $2s originally & I was happy to wait long term & could have kept it at 1:1 leverage np, until that was he unilaterally decided to start taxing long positions with swap charges, to me this is just Bitcoin wild west no rules rule - I'm waiting to see if his stated registration goes through because once it does I intend to claim back that swap money just removed from my account by changing without notice the conditions under which it was deposited & making my position long term untenable so that I had to close it for a big loss as I believe this sort of action is totally illegitimate in any jurisdiction

anyone else who's suffered because of this pse to let me know & we can coordinate to recuperate this blatant rip off with damages also for overall position loss if it hadn't happened once we were locked in


it's so nice atm to finally be out of that & tomorrow off for a long weekend without having to follow every price movement & the feeling of having trusted way too much money to someone who just makes the rules up to suit themselves as they go along, honestly I was amazed to get anything back out at all in that scenario - never again!

LOL.

Guess you are the sockpuppet account of the meelba guy who also wanted to sue Zhou for some odd reason.

So many people want to sue a 17 year old that it really is amazing. You knew the risk when you deposited your money and when you lose it you all decide to complain Huh

Good luck to you and see how far you can get in the courts.

BTC is not "real" money by any means today ...
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March 22, 2012, 07:24:02 AM
 #50


it's so nice atm to finally be out of that & tomorrow off for a long weekend without having to follow every price movement & the feeling of having trusted way too much money to someone who just makes the rules up to suit themselves as they go along, honestly I was amazed to get anything back out at all in that scenario - never again!

If you've entered into a position so large, and haven't protected yourself adequately enough such that you have to watch every price movement because you're afraid to lose money, you've risked way too much.

I know I've read somewhere "90% of all ForEx traders lose all their money"   Yes, you should be amazed to have gotten anything back out at all, but that isn't Zhoutong's fault. LOL.


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March 22, 2012, 08:13:49 AM
 #51

Canada, eh?
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March 22, 2012, 10:43:29 AM
Last edit: March 22, 2012, 11:49:02 AM by Otoh
 #52

over 1 month now & no news on this, Linode hax prob didn't help I guess, any eta Zhou?

a couple of days ago I finally got out of the nightmare scenario of being trapped in a large high $5s base price long position on Bitcoinica which would have been fine as my ZT price was in the $2s originally & I was happy to wait long term & could have kept it at 1:1 leverage np, until that was he unilaterally decided to start taxing long positions with swap charges, to me this is just Bitcoin wild west no rules rule - I'm waiting to see if his stated registration goes through because once it does I intend to claim back that swap money just removed from my account by changing without notice the conditions under which it was deposited & making my position long term untenable so that I had to close it for a big loss as I believe this sort of action is totally illegitimate in any jurisdiction

anyone else who's suffered because of this pse to let me know & we can coordinate to recuperate this blatant rip off with damages also for overall position loss if it hadn't happened once we were locked in


it's so nice atm to finally be out of that & tomorrow off for a long weekend without having to follow every price movement & the feeling of having trusted way too much money to someone who just makes the rules up to suit themselves as they go along, honestly I was amazed to get anything back out at all in that scenario - never again!

LOL.

Guess you are the sockpuppet account of the meelba guy who also wanted to sue Zhou for some odd reason.

nope

So many people want to sue a 17 year old that it really is amazing. You knew the risk when you deposited your money and when you lose it you all decide to complain Huh

I didn't lose it all, far from it, but I lost enough due to swaps being introduced

Good luck to you and see how far you can get in the courts.

BTC is not "real" money by any means today ...

actually the swaps rip off was in US $ as was my margin deposit & he has adult backers & partners

re the other comment about not having protected myself adequately, I was fine long term to leave a large long position that couldn't be force liquidated until the $2s - ie prob never, but when the rules are changed mid game then that screws it up & sure I was well aware of the risk involved in trusting large sums to an unregistered Internet entity - as I said I conciser myself lucky to have got anything back out in this case once it became obvious what was going on

BTC = $c²     My BTC addie = 1otohotohMoQoxHuxLBveQiZcV3Pji3Tc 
Bitstamp Exchange: Referal Code
CHARITY | MY REP | PREDICTION 1 | PREDICTION 2 | PREDICTION 3
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March 22, 2012, 12:16:42 PM
 #53

over 1 month now & no news on this, Linode hax prob didn't help I guess, any eta Zhou?

a couple of days ago I finally got out of the nightmare scenario of being trapped in a large high $5s base price long position on Bitcoinica which would have been fine as my ZT price was in the $2s originally & I was happy to wait long term & could have kept it at 1:1 leverage np, until that was he unilaterally decided to start taxing long positions with swap charges, to me this is just Bitcoin wild west no rules rule - I'm waiting to see if his stated registration goes through because once it does I intend to claim back that swap money just removed from my account by changing without notice the conditions under which it was deposited & making my position long term untenable so that I had to close it for a big loss as I believe this sort of action is totally illegitimate in any jurisdiction

anyone else who's suffered because of this pse to let me know & we can coordinate to recuperate this blatant rip off with damages also for overall position loss if it hadn't happened once we were locked in


it's so nice atm to finally be out of that & tomorrow off for a long weekend without having to follow every price movement & the feeling of having trusted way too much money to someone who just makes the rules up to suit themselves as they go along, honestly I was amazed to get anything back out at all in that scenario - never again!

LOL.

Guess you are the sockpuppet account of the meelba guy who also wanted to sue Zhou for some odd reason.

nope

So many people want to sue a 17 year old that it really is amazing. You knew the risk when you deposited your money and when you lose it you all decide to complain Huh

I didn't lose it all, far from it, but I lost enough due to swaps being introduced

Good luck to you and see how far you can get in the courts.

BTC is not "real" money by any means today ...

actually the swaps rip off was in US $ as was my margin deposit & he has adult backers & partners

re the other comment about not having protected myself adequately, I was fine long term to leave a large long position that couldn't be force liquidated until the $2s - ie prob never, but when the rules are changed mid game then that screws it up & sure I was well aware of the risk involved in trusting large sums to an unregistered Internet entity - as I said I conciser myself lucky to have got anything back out in this case once it became obvious what was going on

Why are you posting this story in multiple places..?


We get it..  you got ZT'd

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March 22, 2012, 12:31:00 PM
 #54

over 1 month now & no news on this, Linode hax prob didn't help I guess, any eta Zhou?

a couple of days ago I finally got out of the nightmare scenario of being trapped in a large high $5s base price long position on Bitcoinica which would have been fine as my ZT price was in the $2s originally & I was happy to wait long term & could have kept it at 1:1 leverage np, until that was he unilaterally decided to start taxing long positions with swap charges, to me this is just Bitcoin wild west no rules rule - I'm waiting to see if his stated registration goes through because once it does I intend to claim back that swap money just removed from my account by changing without notice the conditions under which it was deposited & making my position long term untenable so that I had to close it for a big loss as I believe this sort of action is totally illegitimate in any jurisdiction

anyone else who's suffered because of this pse to let me know & we can coordinate to recuperate this blatant rip off with damages also for overall position loss if it hadn't happened once we were locked in


it's so nice atm to finally be out of that & tomorrow off for a long weekend without having to follow every price movement & the feeling of having trusted way too much money to someone who just makes the rules up to suit themselves as they go along, honestly I was amazed to get anything back out at all in that scenario - never again!

LOL.

Guess you are the sockpuppet account of the meelba guy who also wanted to sue Zhou for some odd reason.

nope

So many people want to sue a 17 year old that it really is amazing. You knew the risk when you deposited your money and when you lose it you all decide to complain Huh

I didn't lose it all, far from it, but I lost enough due to swaps being introduced

Good luck to you and see how far you can get in the courts.

BTC is not "real" money by any means today ...

actually the swaps rip off was in US $ as was my margin deposit & he has adult backers & partners

re the other comment about not having protected myself adequately, I was fine long term to leave a large long position that couldn't be force liquidated until the $2s - ie prob never, but when the rules are changed mid game then that screws it up & sure I was well aware of the risk involved in trusting large sums to an unregistered Internet entity - as I said I conciser myself lucky to have got anything back out in this case once it became obvious what was going on

Why are you posting this story in multiple places..?


We get it..  you got ZT'd
+1
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March 22, 2012, 12:31:34 PM
 #55

We get it..  you got ZT'd

You're almost leet. Check your post count when it gets to 1337

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March 22, 2012, 12:54:35 PM
 #56

over 1 month now & no news on this, Linode hax prob didn't help I guess, any eta Zhou?

a couple of days ago I finally got out of the nightmare scenario of being trapped in a large high $5s base price long position on Bitcoinica which would have been fine as my ZT price was in the $2s originally & I was happy to wait long term & could have kept it at 1:1 leverage np, until that was he unilaterally decided to start taxing long positions with swap charges, to me this is just Bitcoin wild west no rules rule - I'm waiting to see if his stated registration goes through because once it does I intend to claim back that swap money just removed from my account by changing without notice the conditions under which it was deposited & making my position long term untenable so that I had to close it for a big loss as I believe this sort of action is totally illegitimate in any jurisdiction

anyone else who's suffered because of this pse to let me know & we can coordinate to recuperate this blatant rip off with damages also for overall position loss if it hadn't happened once we were locked in


it's so nice atm to finally be out of that & tomorrow off for a long weekend without having to follow every price movement & the feeling of having trusted way too much money to someone who just makes the rules up to suit themselves as they go along, honestly I was amazed to get anything back out at all in that scenario - never again!

LOL.

Guess you are the sockpuppet account of the meelba guy who also wanted to sue Zhou for some odd reason.

nope

So many people want to sue a 17 year old that it really is amazing. You knew the risk when you deposited your money and when you lose it you all decide to complain Huh

I didn't lose it all, far from it, but I lost enough due to swaps being introduced

Good luck to you and see how far you can get in the courts.

BTC is not "real" money by any means today ...

actually the swaps rip off was in US $ as was my margin deposit & he has adult backers & partners

re the other comment about not having protected myself adequately, I was fine long term to leave a large long position that couldn't be force liquidated until the $2s - ie prob never, but when the rules are changed mid game then that screws it up & sure I was well aware of the risk involved in trusting large sums to an unregistered Internet entity - as I said I conciser myself lucky to have got anything back out in this case once it became obvious what was going on

Why are you posting this story in multiple places..?


We get it..  you got ZT'd

I didn't get ZT'd in the sense of a forced liquidation & yep I got ZT'd in the more general being Goxed sense of the phrase (ie being screwed over) & I posted it on his Bitcoinica thread for obvious reasons, I posted it on my thread here re where & when will Bitcoinica become registered as a legal entity if ever & start to abide by some rules because until they do others will suffer the same treatment that I got & so this can be a warning to them & is relevant, finally I posted it on waveaddict's thread where I'm a subscribed premium member as he had previously asked on it if anyone had made good money with Bitcoinica - so losing good money seemed relevant & I was interested in his feedback on what happened if he chooses to give any

yes, I'm sorry to have repeated it but I believe it warranted been posted on those 3 thread for the reasons given, if you don't happen to agree np & please accept my apologies for having bored you

BTC = $c²     My BTC addie = 1otohotohMoQoxHuxLBveQiZcV3Pji3Tc 
Bitstamp Exchange: Referal Code
CHARITY | MY REP | PREDICTION 1 | PREDICTION 2 | PREDICTION 3
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March 22, 2012, 01:41:53 PM
Last edit: March 24, 2012, 09:28:10 PM by Otoh
 #57

here's the latest updated summary of the choices so far

teflone                             Hong Kong
Otoh                                Grand Cayman Islands
Qoheleth                          Singapore
AndDuffy                          USA
N.Olmos                           Belize
stochastic                         Japan
Kluge                               Syria
coin_toss                          Bahamas
Jonathan Ryan Owens        Isle of Man
Spekulatius                       Taiwan
johnthedong                      Malaysia
ineededausername             Nevis
myself                               Guernsey
Matthew N. Wright             Panama
bulanula                            Cuba
psy                                   China
dabest1                             Brazil
Mushoz                              UK
cloon                                 Switzerland
malevolent                         Liechtenstein
YoYa                                  L5!!!
gewure                              Pyongyang FTW!
Scott J                               Indonesia
idev                                   New Zealand
qualalol                              Sealand
muyuu                               Aldeney
Blazr                                  Nigeria
miscreanity                         Iran - Kish Island
thest0ckman                       Russia
barrymac                            British Virgin Islands
EpicBacon                           Canada
Chaang Noi (Goat)               Tuvia or whatever that island nation near NZ is...
naima53                             Cyprus
arabianights                        (Proposal to facilitate Isle of Man jurisdiction)


BTC = $c²     My BTC addie = 1otohotohMoQoxHuxLBveQiZcV3Pji3Tc 
Bitstamp Exchange: Referal Code
CHARITY | MY REP | PREDICTION 1 | PREDICTION 2 | PREDICTION 3
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March 22, 2012, 05:44:07 PM
Last edit: March 22, 2012, 06:00:20 PM by naima53
 #58

kish island,  this is what the problems with iran is truly about. it has nothing to do with nuclear ambitions it has to do with the oil exchange on kish island that is NOT accepting dollars in exchange for oil. it is a move by Iran to dethrone the dollar as the worlds reserve country.

i would set up in russia. the usa cannot boss them around telling them what to do


Oh, Russia - this is not a better place, believe me! I am from Russia. In Russia, laws often change, "like a glove." Here it is necessary to present a passport to buy a cell phone (SIM card) even. Under Russian law (just Litigation), if the credit card numbers stolen from a foreigner, then "the thief does not receive a prison", and vice versa, if the stolen credit card numbers from the Russian resident - a "prison for several years" You can not prove anything (if it will be registered in Russia) Also In Russia violated human rights, see it Magnitsky

And yes, my vote - Cyprus. Because of Russia to Cyprus and vice versa, "works well for the transfer of the Russian people have stolen oil money"

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March 22, 2012, 11:25:52 PM
 #59

To register it in the Isle of Man he needs a Manx address.

He can use mine and I'll pay the filing fee, in return for 2% share in it...

I can also be a "man on the ground" for another couple of percent.

These offers are not designed to make me money by the way, they will have a considerable opportunity cost... they are because I believe in bitcoin.
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April 21, 2012, 10:23:55 AM
 #60

So the correct answer is New Zealand.

[ANN] Bitcoinica is now a registered Financial Services Provider!
https://bitcointalk.org/index.php?topic=77523.0


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