[ANN][BITS][Bitstar] Now on Cryptopia, Nova and Yobit new wallet fork in testing

[T3CLtd]

T3CLtd have you contacted/informed the Cyprus government about the ATM?
If you didn't do so, I think you SHOULD do it and I give less than 0.1% chances you get a yes.
If you don't plan to inform them, I give more than 99.99% as soon as they get notified about it, they will remove it and you will most likely end up in jail (Something I don't wish to happen though)
Cyprus is the last place on earth to try something like that.

I would be interested to know how you come to such a reactionary and uninformed opinion on the matter, bitkokos.

We have spoken to both our local bankers and our auditors, Deloitte, who have informed us that with cryptocurrency not considered a financial product, there is no regulatory approval required for the operation of these machines. They are considered vending machines of 'electronic tokens of value', in the same way that one may currently walk into many local shops here and purchase mobile phone credits, or ukash vouchers etc.

That Danny Brewster nearly ruined the reputation of bitcoin locally, by way of his centralised approach to how he intended to operate Neo & Bee, namely, as a bitcoin-bank/financial service business, before running off with the stash of bitcoin he had received from many investors (something previously alleged as having happened with fiat payments received to a UK limited company he had incorporated and abandoned prior to his Cyprus venture), the resultant harm done to the image of cryptocurrency has been relatively easy to overcome in discussions here simply by pointing out that our operation allows us to ensure we do not hold any funds, crypto or fiat, belonging to our customers. The transaction is a simple real-time buy or sell through the machines.

If you would care to do some minimal research, bitkokos, you will find plenty of information pertaining to the events surrounding Danny Brewster, Neo & Bee and Andreas Antonopoulos. The regulatory department taking issue with Neo & Bee at the time were the consumer advertising body, not the financial services authority, whom had already declined to 'license' Neo & Bee's bitcoin operations solely because they did not consider bitcoin to be a currency.

http://antonopoulos.com/2014/04/18/neo-bee-a-statement-by-andreas-m-antonopoulos-a-consultants-perspective/

On March 13th, I received a call from George and Danny about some problems with the Cypriot advertising regulators. It seemed the regulators were acting on a consumer complaint and were challenging Neo & Bee’s ads saying that bitcoin had “absolute security” or some words to that effect. The regulators had done some Wikipedia research, seen the April 2013 blockchain fork and decided that the statement of absolute security was contradicted by those events. The Cypriot regulators wanted an expert provided by Neo & Bee to produce a statement explaining the April 2013 issues and to support N&B’s claim of “absolute security”.

Also, with regards to your 'Cyprus is the last place on earth' to try developing a cryptocurrency business, would you care to elaborate on such a bold assertion? Many years of experience strongly suggests otherwise, unless you are better informed?

[Mark81]

Do you dare to share information how many ATMs you are able to build per month and maybe price of those?
Edit: And are there chance to provide ATM purchase with BITS a sale with certain percentage? That would cause nice volumes for BITS trading and competition for regular bitcoin ATMs.

[bitkokos]

T3CLtd have you contacted/informed the Cyprus government about the ATM?
If you didn't do so, I think you SHOULD do it and I give less than 0.1% chances you get a yes.
If you don't plan to inform them, I give more than 99.99% as soon as they get notified about it, they will remove it and you will most likely end up in jail (Something I don't wish to happen though)
Cyprus is the last place on earth to try something like that.

I would be interested to know how you come to such a reactionary and uninformed opinion on the matter, bitkokos.

We have spoken to both our local bankers and our auditors, Deloitte, who have informed us that with cryptocurrency not considered a financial product, there is no regulatory approval required for the operation of these machines. They are considered vending machines of 'electronic tokens of value', in the same way that one may currently walk into many local shops here and purchase mobile phone credits, or ukash vouchers etc.

That Danny Brewster nearly ruined the reputation of bitcoin locally, by way of his centralised approach to how he intended to operate Neo & Bee, namely, as a bitcoin-bank/financial service business, before running off with the stash of bitcoin he had received from many investors (something previously alleged as having happened with fiat payments received to a UK limited company he had incorporated and abandoned prior to his Cyprus venture), the resultant harm done to the image of cryptocurrency has been relatively easy to overcome in discussions here simply by pointing out that our operation allows us to ensure we do not hold any funds, crypto or fiat, belonging to our customers. The transaction is a simple real-time buy or sell through the machines.

If you would care to do some minimal research, bitkokos, you will find plenty of information pertaining to the events surrounding Danny Brewster, Neo & Bee and Andreas Antonopoulos. The regulatory department taking issue with Neo & Bee at the time were the consumer advertising body, not the financial services authority, whom had already declined to 'license' Neo & Bee's bitcoin operations solely because they did not consider bitcoin to be a currency.

http://antonopoulos.com/2014/04/18/neo-bee-a-statement-by-andreas-m-antonopoulos-a-consultants-perspective/

On March 13th, I received a call from George and Danny about some problems with the Cypriot advertising regulators. It seemed the regulators were acting on a consumer complaint and were challenging Neo & Bee’s ads saying that bitcoin had “absolute security” or some words to that effect. The regulators had done some Wikipedia research, seen the April 2013 blockchain fork and decided that the statement of absolute security was contradicted by those events. The Cypriot regulators wanted an expert provided by Neo & Bee to produce a statement explaining the April 2013 issues and to support N&B’s claim of “absolute security”.

Also, with regards to your 'Cyprus is the last place on earth' to try developing a cryptocurrency business, would you care to elaborate on such a bold assertion? Many years of experience strongly suggests otherwise, unless you are better informed?

It's not about me, it's about the rest who have no idea what cryptocurrencies are.
Even before Neo and Bee opened in Cyprus, every single politician in Cyprus was laughing on bitcoins.
72% of Cypriots use the internet and of those only 35% uses the internet for electronic payments, commerce etc
This gives Cyprus the last position in the whole EU.
People are still waiting in queues to pay utility bills where they could pay within 30 seconds from home.
They don't even trust simple bank online transactions, how do you expect they understand and accept cryptocurrencies?
You said "Many years of experience strongly suggests otherwise". What kind of experience showed that in Cyprus?

[T3CLtd]

@mark81 We are not building our own ATM machines, we are rebranding existing multi-coin machines from third-party providers.

It's not about me, it's about the rest who have no idea what cryptocurrencies are.

Actually it is about you, after all, you are the first person to post such a vehemently anti-Cyprus statement on this subject.

I will take each point in turn:

Even before Neo and Bee opened in Cyprus, every single politician in Cyprus was laughing on bitcoins.

That politicians may laugh at the notion of Bitcoin and cryptocurrency in general is irrelevant. The same can be said for almost every jurisdiction in the world when first learning of the technology. It is not a metric by which one can judge anything other than the hubris of some in positions of political power.

72% of Cypriots use the internet and of those only 35% uses the internet for electronic payments, commerce etc
This gives Cyprus the last position in the whole EU.

Last position for what, exactly? How does this relate to anything concerning a business aimed at those in a market who are already interested in technology and cryptocurrencies? Our aim is not to bring new users to the internet, it is to serve local internet users who are already aware of the existence of bitcoin.

People are still waiting in queues to pay utility bills where they could pay within 30 seconds from home.

So are you claiming nobody in Cyprus pays their bills online? Because that is just a monumentally bizarre assertion to employ to support your position. That, 'people' still pay at the utility office does not in any way translate into, 'nobody pays online'. How do you explain, then, the fact that the vast majority of road tax renewals are paid online? Surely if your condemnation of the state of the use of online services in Cyprus bore any truth then the only a handful of renewals would be?

They don't even trust simple bank online transactions, how do you expect they understand and accept cryptocurrencies?

Again with a bold assertion that serves to provide for nothing other than the vague claim that 'they' don't 'trust' online bank transfers. How does that correlate with the fact that almost everybody and every business I know uses online banking services here? Your 'fact' might have been more accurate had you posted it ten years ago.

Going beyond your anti-Cyprus rhetoric you appear to be monumentally ignorant of one particular key market sector, wealthy ex-pat communities from Russia and numerous other countries. Cyprus had, for many years, a booming offshore-financial-services sector and, while EU membership put paid to many aspects of that, it still retains many benefits to investors and high-net-worth individuals. These are the primary market we intend to serve initially.

Nothing in our business plan is related to bringing cryptocurrency to the 'masses' locally, merely that we wish to provide an introduction to multi-faceted cryptocurrency services and an easy on/off-ramp for fiat<>crypto to our target market here.

[bitkokos]

@mark81 We are not building our own ATM machines, we are rebranding existing multi-coin machines from third-party providers.

It's not about me, it's about the rest who have no idea what cryptocurrencies are.

Actually it is about you, after all, you are the first person to post such a vehemently anti-Cyprus statement on this subject.

I will take each point in turn:

Even before Neo and Bee opened in Cyprus, every single politician in Cyprus was laughing on bitcoins.

That politicians may laugh at the notion of Bitcoin and cryptocurrency in general is irrelevant. The same can be said for almost every jurisdiction in the world when first learning of the technology. It is not a metric by which one can judge anything other than the hubris of some in positions of political power.

72% of Cypriots use the internet and of those only 35% uses the internet for electronic payments, commerce etc
This gives Cyprus the last position in the whole EU.

Last position for what, exactly? How does this relate to anything concerning a business aimed at those in a market who are already interested in technology and cryptocurrencies? Our aim is not to bring new users to the internet, it is to serve local internet users who are already aware of the existence of bitcoin.

People are still waiting in queues to pay utility bills where they could pay within 30 seconds from home.

So are you claiming nobody in Cyprus pays their bills online? Because that is just a monumentally bizarre assertion to employ to support your position. That, 'people' still pay at the utility office does not in any way translate into, 'nobody pays online'. How do you explain, then, the fact that the vast majority of road tax renewals are paid online? Surely if your condemnation of the state of the use of online services in Cyprus bore any truth then the only a handful of renewals would be?

They don't even trust simple bank online transactions, how do you expect they understand and accept cryptocurrencies?

Again with a bold assertion that serves to provide for nothing other than the vague claim that 'they' don't 'trust' online bank transfers. How does that correlate with the fact that almost everybody and every business I know uses online banking services here? Your 'fact' might have been more accurate had you posted it ten years ago.

Going beyond your anti-Cyprus rhetoric you appear to be monumentally ignorant of one particular key market sector, wealthy ex-pat communities from Russia and numerous other countries. Cyprus had, for many years, a booming offshore-financial-services sector and, while EU membership put paid to many aspects of that, it still retains many benefits to investors and high-net-worth individuals. These are the primary market we intend to serve initially.

Nothing in our business plan is related to bringing cryptocurrency to the 'masses' locally, merely that we wish to provide an introduction to multi-faceted cryptocurrency services and an easy on/off-ramp for fiat<>crypto to our target market here.

You misunderstood what I said.
I have never said everybody in Cyprus doesn't use online payments. I have said 72% of the population uses the internet and of those, 35% make online transactions (paying bills, NOT waiting in bank queues etc).
That shows they don't trust online payments.
I am not using anti-Cyprus rhetoric, I am not ignorant as I am Cypriot living in Cyprus and this is what I see in everyday's life.
I hope you can read Greek and be able to read a recent article here http://www.typos.com.cy/cat/1/article/11822
I quote something from there:
Ωστόσo, μπoρεί oι Kύπριoι να είναι ενθoυσιώδεις χρήστες τoυ διαδικτύoυ για τις παραπάνω δραστηριότητες, δείχνoυν όμως μεγάλη απρoθυμία να πραγματoπoιήσoυν oπoιαδήπoτε ηλεκτρoνική συναλλαγή, πιθανώς λόγω έλλειψης εμπιστoσύνης.

Translation:
However, Cypriots may be enthusiastic internet users for these activities, but they are unwilling to make any online transaction, probably due to lack of confidence.

As you can see, "anti-Cyprus" researches (performed by EU) showed that too.

Again, I wish your plans will be succesful and I will be one of the first people who might use the ATM.

[T3CLtd]

@bitkokos You began this series of posts by claiming that the Cyprus Government would need to approve cryptocurrency ATMs, which is false. You also claimed near-absolute certainty that cryptocurrency machines would be shutdown and seized and suggested that I would be thrown in prison, which is also nonsense. Cyprus is not some wild-west third-world country, although it does suffer from certain inherent sociopolitical issues, as all countries do to some degree, the Cypriot government is generally very supportive of e-commerce and is more than open to discussing new ideas and technical concepts, what is more, they are probably one of the only EU countries where one can actually directly converse with key government and Central Bank personnel should one need to.

You have now resorted to dragging up rather irrelevant facts about the use of the internet by local consumers, including a link to an article which makes the fallacious mistake of employing an absolute, "However, Cypriots may be enthusiastic internet users for these activities, but they are unwilling to make any online transaction, probably due to lack of confidence."

If the above were actually true then, yes, any internet-based service would indeed be doomed to failure. As a logical fallacy, however, said absolute is false as there are plenty of internet users in Cyprus, many of whom are clearly using online banking and paying their bills online.

I'm not sure what the intended purpose of your posts was, to discredit our business, or your own country.

are there chance to provide ATM purchase with BITS a sale with certain percentage? That would cause nice volumes for BITS trading and competition for regular bitcoin ATMs.

Sorry Mark, could you expand on that, I'm not sure what you're asking.

[Bitstar_coin]

Some nice news, Multipool Xpool have added bitstar as a payout option http://www.xpool.ca/

[crackfoo]

Some nice news, Multipool Xpool have added bitstar as a payout option http://www.xpool.ca/

Thanks. Any problems just let me know, the link to the xpool thread is in my sig or hit me up on the SuperNET slack.

Payouts are Mon/Wed/Thu and there'll be a BITS payout shortly as there is already a miner

Cheers!

[Mark81]

In my question I assumed that building an ATM unit is for purpose of wholesaling them. So next thing is price  of those units and of course giving discounts for bying in BITS?

[bitkokos]

@bitkokos You began this series of posts by claiming that the Cyprus Government would need to approve cryptocurrency ATMs, which is false. You also claimed near-absolute certainty that cryptocurrency machines would be shutdown and seized and suggested that I would be thrown in prison, which is also nonsense. Cyprus is not some wild-west third-world country, although it does suffer from certain inherent sociopolitical issues, as all countries do to some degree, the Cypriot government is generally very supportive of e-commerce and is more than open to discussing new ideas and technical concepts, what is more, they are probably one of the only EU countries where one can actually directly converse with key government and Central Bank personnel should one need to.

You have now resorted to dragging up rather irrelevant facts about the use of the internet by local consumers, including a link to an article which makes the fallacious mistake of employing an absolute, "However, Cypriots may be enthusiastic internet users for these activities, but they are unwilling to make any online transaction, probably due to lack of confidence."

If the above were actually true then, yes, any internet-based service would indeed be doomed to failure. As a logical fallacy, however, said absolute is false as there are plenty of internet users in Cyprus, many of whom are clearly using online banking and paying their bills online.

I'm not sure what the intended purpose of your posts was, to discredit our business, or your own country.

are there chance to provide ATM purchase with BITS a sale with certain percentage? That would cause nice volumes for BITS trading and competition for regular bitcoin ATMs.

Sorry Mark, could you expand on that, I'm not sure what you're asking.

I am ending this conversation here. I think it's pointless to continue as you always change what I say either by misunderstanding or intentionally and you give your "answers" to your "changed" questions.

1. I asked if you have informed the government.
You said I said if you got approval, (which is not the same)
2. I said "you will most likely end up in jail (Something I don't wish to happen though)"
You said I suggested that you would be thrown in prison
3. I said "as they get notified about it, they will remove it"
You said I said that cryptocurrency machines would be shutdown and seized (which is not the same)
4. but they are unwilling to make any online transaction, probably due to lack of confidence."
it talks about the majority of users and not about everybody (as you insist that I say)
5. You said "You have now resorted to dragging up rather irrelevant facts about the use of the internet by local consumers, including a link to an article which makes the fallacious mistake"
That link to "an article" is a research performed by the European Union and NOT by an article writer.
6. You said I'm not sure what the intended purpose of your posts was, to discredit our business, or your own country.
Where did you see I wanted to discredit your business??? I have said good luck and that I will use your services too. The only thing I wanted is that you should be very aware with such kind of business in Cyprus. Moreover, I previously said I bought thousands of BITS which is something I am interested, why should I want to ruin it?

AGAIN, I wish good luck.
If you think that the above posts ruin the reputation of your business please ask the forum moderator to delete them.

[dollux]

Hi, is there any chance of please getting a pool payout?

Thanks.

I mined the Bitstar Multipool from the 09-02-15 to 15-02-15 and I have not been paid out coins for this piriod of mining, I would like payment please as it is now over a month ago.

Thank you.

Sorry for the delay, as you seem to be the only one using the multipool, its never hit the minimum withdraw amount for exchange, I'll send the coins from my wallet shortly.

On a side note splitting mod wallets have now been tested and working fine, just running some tests for joining inputs then will release the updates.

Hi, just to let you know that I have received payment of coins from the pool and also to say thanks for the help.

[Bitstar_coin]

Hi, is there any chance of please getting a pool payout?

Thanks.

I mined the Bitstar Multipool from the 09-02-15 to 15-02-15 and I have not been paid out coins for this piriod of mining, I would like payment please as it is now over a month ago.

Thank you.

Sorry for the delay, as you seem to be the only one using the multipool, its never hit the minimum withdraw amount for exchange, I'll send the coins from my wallet shortly.

On a side note splitting mod wallets have now been tested and working fine, just running some tests for joining inputs then will release the updates.

Hi, just to let you know that I have received payment of coins from the pool and also to say thanks for the help.

Thanks for the update, added extra for the delay, not sure if you've seen we're now a option on a 3rd party multipool http://www.xpool.ca/, due to this we're disabling our one for now.

[dollux]

Thanks for the update, added extra for the delay, not sure if you've seen we're now a option on a 3rd party multipool http://www.xpool.ca/, due to this we're disabling our one for now.

Yes I did know but thanks anyway.

[crackfoo]

The latest shift for the Xpool Multipool paid out over 14+ DRK, 88+ BTCD, 136+ FIBRE, 252+ BITS & 0.262+ BTC.

Welcome Bitstar coin as a new coin for payouts. Today's payout hasn't actually been sent out yet as the blockchain didn't download completely yesterday. Loading it with the bootstrap now and has been running ~7 hours and @ block 740k! It'll be sent out as soon as it's finished.

Any problems, please PM or post to the Xpool thread linked in my forums sig as I may miss your post.

Cheers!

www.xpool.ca

[bitkokos]

Hi
I have bought some thousands of BITS on bittrex and downloaded the windows wallet from the first post on this thread today.
I Can't sync the wallet. it's stuck as in the photo below. I have closed and reopened the wallet 3-4 times, deleted everything and started from scratch but, nothing.
I get 7 active connections to the network

You just need to give it time, make sure if you have coins in the wallet, that its locked too so it doesn't try and stake too soon, otherwise it slows it down.

Currently testing the last bit of a wallet update, after that I'll refresh the bootstrap.dat and try and set up a daily fast sync zip file.

No, I didn't sent any coins yet. The wallet is empty and it's stuck there for more than 6 hours. Now, I have 10 connections to the network.
Where will the bootstrap be posted?
thanks

http://bitstarcoin.com/bootstrap.dat

it took around 14 hours but it's up to date now!
yay! I can now send my coins from bittrex!
Thanks for the follow up!
I am now placing another buy order

[crackfoo]

The latest shift for the Xpool Multipool paid out over 14+ DRK, 88+ BTCD, 136+ FIBRE, 252+ BITS & 0.262+ BTC.

Welcome Bitstar coin as a new coin for payouts. Today's payout hasn't actually been sent out yet as the blockchain didn't download completely yesterday. Loading it with the bootstrap now and has been running ~7 hours and @ block 740k! It'll be sent out as soon as it's finished.

Any problems, please PM or post to the Xpool thread linked in my forums sig as I may miss your post.

Cheers!

www.xpool.ca

Payments have been processed and sent now for BITS!

Thanks ya'll!

cheers

[dollux]

The latest shift for the Xpool Multipool paid out over 14+ DRK, 88+ BTCD, 136+ FIBRE, 252+ BITS & 0.262+ BTC.

Welcome Bitstar coin as a new coin for payouts. Today's payout hasn't actually been sent out yet as the blockchain didn't download completely yesterday. Loading it with the bootstrap now and has been running ~7 hours and @ block 740k! It'll be sent out as soon as it's finished.

Any problems, please PM or post to the Xpool thread linked in my forums sig as I may miss your post.

Cheers!

www.xpool.ca

Payments have been processed and sent now for BITS!

Thanks ya'll!

cheers

Yes, great news, I have used Xpool more than once in the past and it is solid, does what it says on the tin, crackfoo is sound, knows his stuff, runs a tight ship and on the rare occasion I needed help he has been quick and right on the button.  This wasn't meant to be a promotion but hey, credit where credit due and all that, Xpool has a good rep in my experience and I know of nothing to contradict this.

Nice to have them on side, thanks. 

[crackfoo]

The latest shift for the Xpool Multipool paid out over 14+ DRK, 88+ BTCD, 136+ FIBRE, 252+ BITS & 0.262+ BTC.

Welcome Bitstar coin as a new coin for payouts. Today's payout hasn't actually been sent out yet as the blockchain didn't download completely yesterday. Loading it with the bootstrap now and has been running ~7 hours and @ block 740k! It'll be sent out as soon as it's finished.

Any problems, please PM or post to the Xpool thread linked in my forums sig as I may miss your post.

Cheers!

www.xpool.ca

Payments have been processed and sent now for BITS!

Thanks ya'll!

cheers

Yes, great news, I have used Xpool more than once in the past and it is solid, does what it says on the tin, crackfoo is sound, knows his stuff, runs a tight ship and on the rare occasion I needed help he has been quick and right on the button.  This wasn't meant to be a promotion but hey, credit where credit due and all that, Xpool has a good rep in my experience and I know of nothing to contradict this.

Nice to have them on side, thanks. 

Hey thanks man! Great to see some positive feedback

[QuadraQ]

Hey just wanted to chime in and commend the developers for all their hard work. I've updated the Bitstar subreddit http://www.reddit.com/r/bitstar/ with some of the most recent changes and will update the graphics to match the new wallet when it's available. (@Bitstar_coin DM me the new graphics if you see this, please.)

[4emily]

Hey just wanted to chime in and commend the developers for all their hard work. I've updated the Bitstar subreddit http://www.reddit.com/r/bitstar/ with some of the most recent changes and will update the graphics to match the new wallet when it's available. (@Bitstar_coin DM me the new graphics if you see this, please.)

+1