I'm leaving Bitcoin

[muyuu]

And now, cofounding CoinJar apparently https://www.reddit.com/r/Bitcoin/comments/3s2yep/im_asher_tan_cofounder_ceo_of_coinjar_my_co/

[1713562370]

1713562370

[Gyrsur]

why are you leaving bitcoin??
have any problem with bitcoin.
the problem of hacking wallet is biggest problem.

look at the OPs date. someone bumped an old thread.

OP still very much still in bitcoin, owns coinjar.

Bitcoinica Theft of 40,000 btc in July 2012

https://www.youtube.com/watch?v=AypRF9q0llU

 

strong evidence zhoutong is involved!

look at his account he is still active.

[thejaytiesto]

I think this guy is doing an AMA right now on roger's website. Maybe someone that is registered could ask him one thing or two to see what he comes up to, apparently he seemed like a pretty legit guy at the begining, until the scam thing.. I don't get why people put their prestige on the line by risking getting caught with scams. Now whenever he tries a new venture, they will accuse him and trust will be low (already saw it's happening).

[thefaucetrunner]

I think this guy is doing an AMA right now on roger's website. Maybe someone that is registered could ask him one thing or two to see what he comes up to, apparently he seemed like a pretty legit guy at the begining, until the scam thing.. I don't get why people put their prestige on the line by risking getting caught with scams. Now whenever he tries a new venture, they will accuse him and trust will be low (already saw it's happening).

Link to the AMA? The youtube video is pretty compelling to be honest, this is crazy! I wonder if he's aware the community is onto him...

That's a HUGE transaction, I've never seen huge transactions like that. 15k bitcoins transacted...

[Soros Shorts]

And now, cofounding CoinJar apparently https://www.reddit.com/r/Bitcoin/comments/3s2yep/im_asher_tan_cofounder_ceo_of_coinjar_my_co/

Wasn't he an infant under the age of 18 when the Bitcoinica loss happened?

[muyuu]

And now, cofounding CoinJar apparently https://www.reddit.com/r/Bitcoin/comments/3s2yep/im_asher_tan_cofounder_ceo_of_coinjar_my_co/

Wasn't he an infant under the age of 18 when the Bitcoinica loss happened?

Age of criminal responsibility in China is 14.

[danielW]

And now, cofounding CoinJar apparently https://www.reddit.com/r/Bitcoin/comments/3s2yep/im_asher_tan_cofounder_ceo_of_coinjar_my_co/

Wasn't he an infant under the age of 18 when the Bitcoinica loss happened?

Age of criminal responsibility in China is 14.

He was studying in Australia at the time and comes from Singapore anyway.

[BTCBinary]

I guess we all owe you a lot man. You did a great job for bitcoin. I hope you won't regret your decision. Wish you the best!

[muyuu]

And now, cofounding CoinJar apparently https://www.reddit.com/r/Bitcoin/comments/3s2yep/im_asher_tan_cofounder_ceo_of_coinjar_my_co/

Wasn't he an infant under the age of 18 when the Bitcoinica loss happened?

Age of criminal responsibility in China is 14.

He was studying in Australia at the time and comes from Singapore anyway.

In Australia it's 10 to 14 depending on the crime, in Singapore it's 7-12-14.

Also if he retains stolen funds it's an ongoing crime.

[tom555]

No, this isn't related to the Bitcoinica hack. The hack just makes the choices obvious and straightforward.

I, Zhou Tong (Zhou is my surname), will discontinue all involvement in Bitcoin-related projects after the Bitcoinica incident has been fully resolved until further notice.

I always believe in Bitcoin, or simply anything that brings people financial liberty. I have heavily invested in Bitcoin (I purchased one 1,000 BTC gold coin from Casascius and will keep it for as long as I can). And I have enjoyed what I have done for the Bitcoin community.

Really, thank you for all the wonderful support. It feels great to have an experimental project become the "best thing since sliced bread", and run one of the most profitable businesses in a new economy. Bitcoinica has a total historical revenue equivalent to about 0.67% of the whole Bitcoin economy. Not even Apple can match this record in the real world economies.

The first time I read about Bitcoin was in late 2010. My first reaction was "these coins are cheap, maybe it just doesn't work". I learned about Bitcoin again in mid 2011, when the first bubble started. I bought my first Bitcoin when it fell to $8. I told all my close friends and classmates about Bitcoin, simply because I think it's a cool idea. The idea of a margin trading platform quickly went into my mind, and I started working on Bitcoinica.

I lied about the time it took to build Bitcoinica. (I said I spent one week on it.) I started on September 4, 2011 and launched on September 9, 2011. Just four and half days. In a week, trading volume passed one million dollars. I started making profits like crazy.

In November, an investor approached me to acquire Bitcoinica. Due to regulatory concerns, I agreed to the deal and signed the agreement. Bitcoinica was sold for a good price. However, since the investor is unable to arrange for a replacement team, I continued to become the sole operator until Team Intersango took over two weeks ago. The investor let me keep all profits until late January, the official handover time. After handover, he continued to offer generous salary and performance bonus every month. The investor demands his identity to be protected so I won't share more information on this.

I left school in Singapore and decided to continue my education in Australia. I made the decision because of the Internet industry, and the hacker culture. I'm a web developer and I want to become a really good one. I want to work with smart hackers and wonderful designers to change the world. Singapore isn't particularly good at this. (Obviously, US West Coast should be a better choice, but for some other reasons I didn't consider US.)

I have started working on another project (not Bitcoin-related) that is going to make a little difference on the Internet. So far I have achieved great progress and I'm pretty confident about this new venture.

My life hasn't changed much except that I became more confident after Bitcoinica's success. I realized that I have the power to make something profitable. Such kind of confidence is extremely hard to get, until you really experience a significant success. I worked on several projects before, and all of them failed eventually. I thought I was confident because I kept building new stuff and improving myself. But the real confidence comes from the success itself.

I failed at one thing though, that is generating value for the society. Bitcoinica did create a place for people to trade more efficiently and provide liquidity to the market. However, speculation is a zero-sum game (or negative-sum, strictly saying). I know there can be many justifications for Bitcoinica's value, but all of them are against my intuition and values.

With the confidence and the innate intuition to build wonderful things for a better world, I decided to move on. I didn't quit Bitcoinica because it's the only source of income that I currently have.

I know that my time is valuable and industry establishment is really important. I don't want my name to be remembered by only Bitcoiners. It's true that I believe in Bitcoin's potential, but not everyone believes. If I'm a influential person I wouldn't have to do this, but the best way to be known in the Internet industry is to build products that save people time, money and headaches.

I'm going to be a young entrepreneur that solves problems for everyone. I leave Bitcoin only because it doesn't help address my real needs. Making money isn't that important after all.

I'll be a Bitcoin lover forever, and I will come back to this forum regularly to discuss about the future that's in our own hands! I will keep the 1,000 BTC  gold coin as a lifetime investment and I'm pretty confident that it'll be the best investment ever in my life.

Bitcoin FTW!

really inspiring story,and you are a good person,with very good skill..
you are lucky man,know bitcoin early on 2010,on that year i new t start my college,and maybe if i know that time,i will have a little lucky like you 
but i know bitcoin on 2014,its too late i think,and my limited acces was influence my profit,but i still have to thanks to my god for this all,for my chance to know bitcoin.
and good luck for your future,and i hope when i post this,you still come to this forum,and make some check to bitcoin condition 

[MemoryDealers]

Here is a link to the AMA going on with the co-founder of CoinJar:

https://forum.bitcoin.com/ama-ask-me-anything/i-m-asher-tan-co-founder-ceo-of-coinjar-ask-me-anything-t2262.html

[Sir_lagsalot]

Oh well, more for me!

But really, I see your point. With the currency's volatility, it's pretty risky to hold your coins. I currently have half the mind to cash out. Any ideas people? Why is the price so jittery this week? It went up to $480 a few days ago, then dropped to $380.

[EdenHazard]

No, this isn't related to the Bitcoinica hack. The hack just makes the choices obvious and straightforward.

I, Zhou Tong (Zhou is my surname), will discontinue all involvement in Bitcoin-related projects after the Bitcoinica incident has been fully resolved until further notice.

I always believe in Bitcoin, or simply anything that brings people financial liberty. I have heavily invested in Bitcoin (I purchased one 1,000 BTC gold coin from Casascius and will keep it for as long as I can). And I have enjoyed what I have done for the Bitcoin community.

Really, thank you for all the wonderful support. It feels great to have an experimental project become the "best thing since sliced bread", and run one of the most profitable businesses in a new economy. Bitcoinica has a total historical revenue equivalent to about 0.67% of the whole Bitcoin economy. Not even Apple can match this record in the real world economies.

The first time I read about Bitcoin was in late 2010. My first reaction was "these coins are cheap, maybe it just doesn't work". I learned about Bitcoin again in mid 2011, when the first bubble started. I bought my first Bitcoin when it fell to $8. I told all my close friends and classmates about Bitcoin, simply because I think it's a cool idea. The idea of a margin trading platform quickly went into my mind, and I started working on Bitcoinica.

I lied about the time it took to build Bitcoinica. (I said I spent one week on it.) I started on September 4, 2011 and launched on September 9, 2011. Just four and half days. In a week, trading volume passed one million dollars. I started making profits like crazy.

In November, an investor approached me to acquire Bitcoinica. Due to regulatory concerns, I agreed to the deal and signed the agreement. Bitcoinica was sold for a good price. However, since the investor is unable to arrange for a replacement team, I continued to become the sole operator until Team Intersango took over two weeks ago. The investor let me keep all profits until late January, the official handover time. After handover, he continued to offer generous salary and performance bonus every month. The investor demands his identity to be protected so I won't share more information on this.

I left school in Singapore and decided to continue my education in Australia. I made the decision because of the Internet industry, and the hacker culture. I'm a web developer and I want to become a really good one. I want to work with smart hackers and wonderful designers to change the world. Singapore isn't particularly good at this. (Obviously, US West Coast should be a better choice, but for some other reasons I didn't consider US.)

I have started working on another project (not Bitcoin-related) that is going to make a little difference on the Internet. So far I have achieved great progress and I'm pretty confident about this new venture.

My life hasn't changed much except that I became more confident after Bitcoinica's success. I realized that I have the power to make something profitable. Such kind of confidence is extremely hard to get, until you really experience a significant success. I worked on several projects before, and all of them failed eventually. I thought I was confident because I kept building new stuff and improving myself. But the real confidence comes from the success itself.

I failed at one thing though, that is generating value for the society. Bitcoinica did create a place for people to trade more efficiently and provide liquidity to the market. However, speculation is a zero-sum game (or negative-sum, strictly saying). I know there can be many justifications for Bitcoinica's value, but all of them are against my intuition and values.

With the confidence and the innate intuition to build wonderful things for a better world, I decided to move on. I didn't quit Bitcoinica because it's the only source of income that I currently have.

I know that my time is valuable and industry establishment is really important. I don't want my name to be remembered by only Bitcoiners. It's true that I believe in Bitcoin's potential, but not everyone believes. If I'm a influential person I wouldn't have to do this, but the best way to be known in the Internet industry is to build products that save people time, money and headaches.

I'm going to be a young entrepreneur that solves problems for everyone. I leave Bitcoin only because it doesn't help address my real needs. Making money isn't that important after all.

I'll be a Bitcoin lover forever, and I will come back to this forum regularly to discuss about the future that's in our own hands! I will keep the 1,000 BTC  gold coin as a lifetime investment and I'm pretty confident that it'll be the best investment ever in my life.

Bitcoin FTW!

congratulation,i'm glad to see your post,this is interesting life experience,actually on bitcoin story,i just said congratulation because you have investement worth 1000 BTC when you retire,its a good time to leave bitcoin for a while or forever.

[novgod]

Personally I see nothing wrong with straight up gambling platforms and to the extent that I do, it's an easy choice for me to ignore them.  I also don't believe that Bitcoinica either helped or hurt the Bitcoin economy very much.  If I were putting a huge amount of effort into developing the platform and it was used in this manner, however, I am sure I would feel a bit demoralized and like I was wasting my time.  If that is a factor in Zhou Tong and Gavin's comments, I could certainly relate to that.

[molecular]

^ I would be a bit careful here.

The end of bitcoinica wasn't pretty and many lost money. Not sure wether zhoutong has taken any, but if, it was way more than a measly 1000 BTC.

[partysaurus]

Thanks for telling us your background was very intressting to read. and good luck to you in life what ever you decide to do!

[gregyoung14]

All the best then dear sir! Cheers to all the Bitcoins ever there is.

[molecular]

All the best then dear sir! Cheers to all the Bitcoins ever there is.

The post is from May 2012 and I even think he's back.

Why did this thread suddenly pop up in my watchlist when noone posted. I think the watchlist is broken.

[MemoryDealers]

Zhou Tong is now the Co-founder of Coin Jar to service Australian Bitcoin customers.
Since the Bitcoinica hack,  incredibly strong evidence has emerged that Zhou Tong was the actual thief.
His whole Chinese millionaire relic collector story was too unbelievable to begin with as well.

More details here: https://forum.bitcoin.com/ama-ask-me-anything/i-m-asher-tan-co-founder-ceo-of-coinjar-ask-me-anything-t2262.html#p6434

[ralphh]

Hello,
I just joined. I have just read about this bitcoin thing any I am excited to learn more about it.
Somebody is leaving somebody is coming. I guess that is how many things are.