[Emergency ANN] Bitcoinica site is taken offline for security investigation

[N12]

I have repeatedly told people that Bitcoinica is a scam and that Bitcoinica staff should be banned from the forums.

Maybe now people will actually listen.

Bitcoinica is a regulated entity, verifiable by government records. We are one of the most legitimate businesses in Bitcoin community, by any standard.

I second that, and vouch for Zhou and the Bitcoinica team.

I refuse to give people who donate 64k BTC to hackers and devalue all of our Bitcoins any credence.

Hopefully the reward will attract even more hackers!

[Raoul Duke]

Sounds like u got ZHOU TONGED

I shouldn't have, but I seriously ROTFLMFAO

[davout]

Interacting with the official client is painful.

+1

[HostFat]

Yep, I don't like that Bitcoinica is able to damage all the bitcoin market with their mistakes.
Please stop doing this

[cypherdoc]

Sounds like u got ZHOU TONGED

its one word:  ZHOUTONGED

[Yankee (BitInstant)]

I have repeatedly told people that Bitcoinica is a scam and that Bitcoinica staff should be banned from the forums.

Maybe now people will actually listen.

Bitcoinica is a regulated entity, verifiable by government records. We are one of the most legitimate businesses in Bitcoin community, by any standard.

I second that, and vouch for Zhou and the Bitcoinica team.

I refuse to give people who donate 64k BTC to hackers and devalue all of our Bitcoins any credence.

Hopefully the reward will attract even more hackers!

Wether or not its Zhou's fault, or you blame his ignorance, ect..

'Donate' is a bad word to use because it implies intent, which you cannot prove.

Yep, I don't like that Bitcoinica is able to damage all the bitcoin market with their mistakes.
Please stop doing this

I agree,

Zhou you gotta secure your shit man!!!!!!

[cypherdoc]

i thought the Intersango security "expertise" was going to put a stop to all this?

[zhoutong]

Z the question is ppl orders will be made or not ?

Our data is kept inact. Any order placed before the shutdown will still be valid. However, no order execution will happen (no zhoutonging either).

If the market moves significantly, we will come up with a proposal to compensate disadvantaged customers once the investigation is complete.

[N12]

Bad words? I also refuse to be politically correct to such a platform that is set to ruin people by having them zhoutonged and ruins us collectivelly by having stupid people basically give hackers money, devaluing Bitcoins not only in a USD, but in a wealth creating sense, since if we keep doing this shit, Bitcoin is actually a negative sum game. I doubt we are creating wealth at a faster rate than we are destroying it by giving thieves money.

OK, enough of my rants. Sorry.

edit: @zhoutong
Forgot about that. That helps actually. Still leaves the "loss of confidence" and ethical issues, though. We just can’t continue at this rate.

[zhoutong]

I have repeatedly told people that Bitcoinica is a scam and that Bitcoinica staff should be banned from the forums.

Maybe now people will actually listen.

Bitcoinica is a regulated entity, verifiable by government records. We are one of the most legitimate businesses in Bitcoin community, by any standard.

I second that, and vouch for Zhou and the Bitcoinica team.

I refuse to give people who donate 64k BTC to hackers and devalue all of our Bitcoins any credence.

Hopefully the reward will attract even more hackers!

If we decide to reimburse our customers this time, we will buy the exact amount from the market anyway. We don't want to owe any Bitcoins. USD is always the debt currency for us.

[Raoul Duke]

I have repeatedly told people that Bitcoinica is a scam and that Bitcoinica staff should be banned from the forums.

Maybe now people will actually listen.

Bitcoinica is a regulated entity, verifiable by government records. We are one of the most legitimate businesses in Bitcoin community, by any standard.

I second that, and vouch for Zhou and the Bitcoinica team.

I refuse to give people who donate 64k BTC to hackers and devalue all of our Bitcoins any credence.

Hopefully the reward will attract even more hackers!

If we decide to reimburse our customers this time, we will buy the exact amount from the market anyway. We don't want to owe any Bitcoins. USD is always the debt currency for us.

If?... Interesting!
If you don't reimburse them then I want to see you and all of Intersango staff with a scammer tag.

[bulanula]

I have repeatedly told people that Bitcoinica is a scam and that Bitcoinica staff should be banned from the forums.

Maybe now people will actually listen.

Bitcoinica is a regulated entity, verifiable by government records. We are one of the most legitimate businesses in Bitcoin community, by any standard.

I second that, and vouch for Zhou and the Bitcoinica team.

I refuse to give people who donate 64k BTC to hackers and devalue all of our Bitcoins any credence.

Hopefully the reward will attract even more hackers!

If we decide to reimburse our customers this time, we will buy the exact amount from the market anyway. We don't want to owe any Bitcoins. USD is always the debt currency for us.

If?... Interesting!

Claim you got hacked and run with the money.

Always works with BTC ...

[zhoutong]

I have repeatedly told people that Bitcoinica is a scam and that Bitcoinica staff should be banned from the forums.

Maybe now people will actually listen.

Bitcoinica is a regulated entity, verifiable by government records. We are one of the most legitimate businesses in Bitcoin community, by any standard.

I second that, and vouch for Zhou and the Bitcoinica team.

I refuse to give people who donate 64k BTC to hackers and devalue all of our Bitcoins any credence.

Hopefully the reward will attract even more hackers!

If we decide to reimburse our customers this time, we will buy the exact amount from the market anyway. We don't want to owe any Bitcoins. USD is always the debt currency for us.

If?... Interesting!

I'm not the guy making such decisions, sorry.

[cypherdoc]

Bad words? I also refuse to be politically correct to such a platform that is set to ruin people by having them zhoutonged and ruins us collectivelly by having stupid people basically give hackers money, devaluing Bitcoins not only in a USD, but in a wealth creating sense, since if we keep doing this shit, Bitcoin is actually a negative sum game. I doubt we are creating wealth at a faster rate than we are destroying it by giving thieves money.

OK, enough of my rants. Sorry.

the theft won't "devalue" Bitcoins.  even if the thief sells it's just another buying opportunity and might cause a temporary dip in the price.  but that's assuming he wants to sell.  he could be long term speculator like the rest of us hoping the price goes to $100 before he unloads.  at the very least it will take him time to sell to get the right price and there's also the possibility mtgox intervenes once again.  the only one's who will take a loss here are Zhou and possibly some of his customers.

[Raoul Duke]

I have repeatedly told people that Bitcoinica is a scam and that Bitcoinica staff should be banned from the forums.

Maybe now people will actually listen.

Bitcoinica is a regulated entity, verifiable by government records. We are one of the most legitimate businesses in Bitcoin community, by any standard.

I second that, and vouch for Zhou and the Bitcoinica team.

I refuse to give people who donate 64k BTC to hackers and devalue all of our Bitcoins any credence.

Hopefully the reward will attract even more hackers!

If we decide to reimburse our customers this time, we will buy the exact amount from the market anyway. We don't want to owe any Bitcoins. USD is always the debt currency for us.

If?... Interesting!

I'm not the guy making such decisions, sorry.

Like I said in my edited post, IF you don't reimburse your customers I will want to see you and all of Intersango staff wearing a scammer tag, and genjix(or anyone connected with Intersango) kicked out of the Bitcoin dev team. That's all! You're no better than Tom Williams if you don't fully reimburse your customers.

[muyuu]

Please Zhoutong, give Armory a shot.

Now we will have more "taint" hell.

[Timbo925]

subscribing

[zhoutong]

I have repeatedly told people that Bitcoinica is a scam and that Bitcoinica staff should be banned from the forums.

Maybe now people will actually listen.

Bitcoinica is a regulated entity, verifiable by government records. We are one of the most legitimate businesses in Bitcoin community, by any standard.

I second that, and vouch for Zhou and the Bitcoinica team.

I refuse to give people who donate 64k BTC to hackers and devalue all of our Bitcoins any credence.

Hopefully the reward will attract even more hackers!

If we decide to reimburse our customers this time, we will buy the exact amount from the market anyway. We don't want to owe any Bitcoins. USD is always the debt currency for us.

If?... Interesting!

I'm not the guy making such decisions, sorry.

Like I said in my edited post, IF you don't reimburse your customers I will want to see you and all of Intersango staff wearing a scammer tag, and genjix(or anyone connected with Intersango) kicked out of the Bitcoin dev team. That's all!

Noted. Thanks for the reminder.

[splatster]

Zhoutong ALL the Bitcoinica users!!!

(also subbing)

[N12]

the theft won't "devalue" Bitcoins.  even if the thief sells it's just another buying opportunity and might cause a temporary dip in the price.  but that's assuming he wants to sell.  he could be long term speculator like the rest of us hoping the price goes to $100 before he unloads.  at the very least it will take him time to sell to get the right price and there's also the possibility mtgox intervenes once again.  the only one's who will take a loss here are Zhou and possibly some of his customers.

But of course it will, doc, even if they buy the Bitcoins back at market! Hackers are not speculators, just think about every hack that has happened in Bitcoin’s history and the dumping that followed therafter (it is not as easy anymore since Gox collaborates to track stolen coins, but they just arbitrage it from a different exchange, and I suspect it is usually BTC-E.com). In addition, there is the breach of confidence that this currency is perhaps nothing but a collective subsidy to hackers.