{ANNOUNCEMENT} WBX Exchange Frozen

[anzy]

Never heard of WBX, but it sounded like a decent service... sorry to see ya go : /

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[mOomOo]

Thanks. 

You should say something nice on my OTC Web of Trust rating...

I have spent a little bit of time trying to figure out that web of trust.  Looks like i would need to spend some time in an IRC chat room which I don't have time for at the moment.  If there is an easy way for me to give you a positive rating somewhere I'd love to do it.

Any thoughts on what will happen with the remaining bit-coins?    Price has gone through the roof, so the 3ish that I think I'm still owed are worth a pretty penny now 

[repentance]

Recieved. Thanks Dooglus! 

In an age of constant bitcoin scams and pain in general, your outright honesty and effort to do the right thing has blown me away, to be frank.  Both your work and your ethics are outstanding. Well done!

I'll be watching to see if the remainder gets used up or not.

Just want to remind everyone that dooglus was not part of WBX, so he's truly gone above and beyond in trying to ensure that WBX users receive some return.

[mOomOo]

Just want to remind everyone that dooglus was not part of WBX, so he's truly gone above and beyond in trying to ensure that WBX users receive some return.

I agree wholeheartedly with what you have said and I think I probably sounded a bit like a little brat in my last post.

I am all for Dooglus keeping some bitcoins as payment (Shell we say tip?). 
I was just wondering how much is left over and if anyone recently has put a new claim in?   If there is substantial amounts left over are there enough to payout the remaining amounts and leave Dooglus with a nice little tip for all his hard (and honest) work?

Also is there a how to for setting up the web of trust?

[Seal]

Just want to remind everyone that dooglus was not part of WBX, so he's truly gone above and beyond in trying to ensure that WBX users receive some return.

I agree wholeheartedly with what you have said and I think I probably sounded a bit like a little brat in my last post.

I am all for Dooglus keeping some bitcoins as payment (Shell we say tip?). 
I was just wondering how much is left over and if anyone recently has put a new claim in?   If there is substantial amounts left over are there enough to payout the remaining amounts and leave Dooglus with a nice little tip for all his hard (and honest) work?

Also is there a how to for setting up the web of trust?

Dooglus is WBX's developer. He was not responsible for the downfall of the business but has been steadfast and honest. He's also backed us clients when the owner Andre wanted to screw us all upon his failure to deal with chargebacks.

I was surprised that he only paid out 75% when he stated he could pay 100% back after the 1 year anniversary of the site being shut down. I thought he stated clearly he would pay back as much as he could. With the recent appreciation, should be able to pay out 100% of claims and have change left over to keep (can somebody run the numbers?). Dooglus, can you clarify what you are going to do with the remaining 25% and your next step in final resolution to this debacle?

I messaged you before saying I'm happy to pay him upon the resolution of repayments, however 25% for me is still well over $1000 which is a very large sum for a 'little tip'.

[dooglus]

I was surprised that he only paid out 75% when he stated he could pay 100% back after the 1 year anniversary of the site being shut down. I thought he stated clearly he would pay back as much as he could. With the recent appreciation, should be able to pay out 100% of claims and have change left over to keep (can somebody run the numbers?). Dooglus, can you clarify what you are going to do with the remaining 25% and your next step in final resolution to this debacle?

I messaged you before saying I'm happy to pay him upon the resolution of repayments, however 25% for me is still well over $1000 which is a very large sum for a 'little tip'.

Hi.

No matter how high the price goes, I'll never be able to pay back 100% of what is owed, since all the dollars went 'missing'.  I've always had 100% of the owed Bitcoins and 0% of the owed fiat.  As the Bitcoin price rose, the owed fiat amount became less significant.  When the exchange closed down the missing Australian dollars were worth significantly more than the BTC I was holding, but as the price grew that was no longer the case.

At the 1 year anniversary of closing down, I converted the owed dollars to Bitcoins at the prevailing exchange rates, and arrived at the 75% figure.  That's the amount I can be sure of being able to pay back if everyone with an outstanding balance puts in a claim.  If so people don't put in a claim then I'll be able to pay back more, but I don't want to pay out a bigger percentage to some than to others.

I've received more claims since the deadline, and still haven't heard from the guy who couldn't remember his login details.  'scales' perhaps?  He posted in this thread around the time the first payout happened.

It's currenty looking like I'll be able to pay out the remaining 25% or so that's owed.

I propose allowing another 2 months for late claims, and paying out the remaining funds on 1st June.

I already converted the AUD amounts to BTC, when I made the first payout.  I don't see how I can re-convert it at the new rates.

I hope that's satisfactory for everyone concerned.

[mOomOo]

I hope that's satisfactory for everyone concerned.

2 thumbs up.  I think what you have done is amazing

[dooglus]

I hope that's satisfactory for everyone concerned.

2 thumbs up.  I think what you have done is amazing

It's sad when NOT stealing money is amazing. 

[mOomOo]

It's sad when NOT stealing money is amazing. 

In the online world of anonymity... yes... yes it is 
And considering how Andre handled the situation...

[scales]

I'm so sorry I have the memory of a goldfish especially after the festival season!
I only have the email correspondence between Andre and I. I have not been able to figure out my login.

Are your email details here so I can forward you those emails?
Can't find them at the moment.

I absolutely think Douglas deserves to keep some money

[scales]

Seal that's quite ridiculous to complain about the tip. The dude could easily have made away with you money!

[dooglus]

Are your email details here so I can forward you those emails?
Can't find them at the moment.

I think I've posted it in this thread before; I'm not sure.  Lots of WBX clients have emailed me, but maybe they just guessed.

It's dooglus@gmail.com

I did find an account that I think might be yours based on what you posted here before.  Send me copies of the email correspondence and hopefully that will confirm what I'm thinking.

Edit: I just noticed that of course my email address is shown in the 'GPG' link in my signature...

[scales]

Thank you, I sent it a few minutes ago, hope it helps.

[wingsuit]

I was surprised that he only paid out 75% when he stated he could pay 100% back after the 1 year anniversary of the site being shut down. I thought he stated clearly he would pay back as much as he could. With the recent appreciation, should be able to pay out 100% of claims and have change left over to keep (can somebody run the numbers?). Dooglus, can you clarify what you are going to do with the remaining 25% and your next step in final resolution to this debacle?

I messaged you before saying I'm happy to pay him upon the resolution of repayments, however 25% for me is still well over $1000 which is a very large sum for a 'little tip'.

Hi.

No matter how high the price goes, I'll never be able to pay back 100% of what is owed, since all the dollars went 'missing'.  I've always had 100% of the owed Bitcoins and 0% of the owed fiat.  As the Bitcoin price rose, the owed fiat amount became less significant.  When the exchange closed down the missing Australian dollars were worth significantly more than the BTC I was holding, but as the price grew that was no longer the case.

At the 1 year anniversary of closing down, I converted the owed dollars to Bitcoins at the prevailing exchange rates, and arrived at the 75% figure.  That's the amount I can be sure of being able to pay back if everyone with an outstanding balance puts in a claim.  If so people don't put in a claim then I'll be able to pay back more, but I don't want to pay out a bigger percentage to some than to others.

I've received more claims since the deadline, and still haven't heard from the guy who couldn't remember his login details.  'scales' perhaps?  He posted in this thread around the time the first payout happened.

It's currenty looking like I'll be able to pay out the remaining 25% or so that's owed.

I propose allowing another 2 months for late claims, and paying out the remaining funds on 1st June.

I already converted the AUD amounts to BTC, when I made the first payout.  I don't see how I can re-convert it at the new rates.

I hope that's satisfactory for everyone concerned.

How have you re-payed them when http://blockchain.info/address/1DodGYjF5LFoKg186jANZV9U8znXjagSzS clearly just siphoned the money into multiple 100 coin addresses, presumably all under your control?

[dooglus]

How have you re-payed them when http://blockchain.info/address/1DodGYjF5LFoKg186jANZV9U8znXjagSzS clearly just siphoned the money into multiple 100 coin addresses, presumably all under your control?

Good question.  I was wondering if anyone would ask about that.

1DodGY was in cold storage, and I had other funds available to repay people with.

People don't care which coins they're paid with just so long as they are paid.

Thanks for keeping an eye on things though.  But really, if I had just claimed to have paid everyone out, but not actually done it, don't you think someone might have spoken up about it by now?

[wingsuit]

How have you re-payed them when http://blockchain.info/address/1DodGYjF5LFoKg186jANZV9U8znXjagSzS clearly just siphoned the money into multiple 100 coin addresses, presumably all under your control?

Good question.  I was wondering if anyone would ask about that.

1DodGY was in cold storage, and I had other funds available to repay people with.

People don't care which coins they're paid with just so long as they are paid.

Thanks for keeping an eye on things though.  But really, if I had just claimed to have paid everyone out, but not actually done it, don't you think someone might have spoken up about it by now?

Cheers for the reply, I admittedly didn't pay too close a detail to this saga but just had a snoop through your addresses history. Cheers for clearing that up!

[Seal]

How have you re-payed them when http://blockchain.info/address/1DodGYjF5LFoKg186jANZV9U8znXjagSzS clearly just siphoned the money into multiple 100 coin addresses, presumably all under your control?

Good question.  I was wondering if anyone would ask about that.

1DodGY was in cold storage, and I had other funds available to repay people with.

People don't care which coins they're paid with just so long as they are paid.

Thanks for keeping an eye on things though.  But really, if I had just claimed to have paid everyone out, but not actually done it, don't you think someone might have spoken up about it by now?

Cheers for the reply, I admittedly didn't pay too close a detail to this saga but just had a snoop through your addresses history. Cheers for clearing that up!

+1

Its coming up to 15 months now. I appreciate the efforts to get as much paid back as possible. Have you had any further thoughts about what you are going to do with the final 25% of payments?

[dooglus]

Its coming up to 15 months now. I appreciate the efforts to get as much paid back as possible. Have you had any further thoughts about what you are going to do with the final 25% of payments?

I think I posted in this thread that I plan to make a final payout on 1st June.

I've not done the maths yet, but one of the biggest creditors of WBX appeared a few days ago, having "been away from bitcoin for a while".  I had PMed and emailed him, along with all the others I hadn't heard from, but for whatever reason he only just got in touch.  Adding what he's owed into the mix probably means that the full remaining 25% won't be available.

I'll post here when I have more details, but up until 1st June I'm still accepting claims from people, so I can't promise any amounts until then.  If every creditor puts in their claim then there will be nothing left for the people who I already paid out; though that's unlikely to happen.

[paulzag]

Hi Dooglus

Is there an update? 1 June is nearly here.

Just curious.

[dooglus]

Hi Dooglus

Is there an update? 1 June is nearly here.

Just curious.

Hey.

I'm still here, and still plan on returning remaining WBX coins on 1st June.

I still didn't check the numbers, figuring that I'll only have to redo them if any more claims come in before the 1st.  That and I guess I'm putting it off because it's not very interesting.  But I'll get on it now and post an update.