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Author Topic: [Payout Updates] Bitcoinica site is taken offline for security investigation  (Read 145772 times)
kokjo
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June 23, 2012, 05:46:41 AM
 #981

If Bitcoinica's business model was viable, why shut it down? Why not fix the security problem and use the business profits to replace the stolen funds?

Who is dense enough to still do business with them?
i would. mtgox fucked up last year, and they are still doing pretty good.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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Blitz­
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June 23, 2012, 05:49:07 AM
 #982

MtGox fucked up precisely once in their entire history.

Bitcoinica fucked up 3 times.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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June 23, 2012, 05:53:47 AM
 #983

If Bitcoinica's business model was viable, why shut it down? Why not fix the security problem and use the business profits to replace the stolen funds?

Who is dense enough to still do business with them?
i would. mtgox fucked up last year, and they are still doing pretty good.
+1 But first - get 100% money! Prove that you are not fucking scammers, alpaca socks. I had some of their money out there for a short circuit. Only for this purpose.

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muyuu
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June 23, 2012, 02:42:48 PM
 #984

MtGox lost about 40-50% of their market share over a year.

That said, I'm sure there are enough retards to bring Bitcoinica up again. And they will even post about it in the forums.

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June 23, 2012, 03:04:31 PM
 #985

MtGox fucked up precisely once in their entire history.

Bitcoinica fucked up 3 times.
I guess that depends on how you define "fucked up". They have had several errors along the way, but only 1 known major hack. Remember ~BTC2k that disappeared? Thanks to mtgox screwup in conjunction with Eligius processing nonstandard transactions.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
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June 23, 2012, 05:31:05 PM
 #986

The manner in which the bitcoinica folks are handling this should tell you exactly how well they would run any type of post-disaster version of bitcoinica. Anyone who would trust them with a penny of investment until they have a clear, defined working model, full disclosure on who owns what and who works for who, what is happening to the funds (other than funding a massive pyramid!) is just plain too trusting. How many times do we need to be shown that there is no magic making money out of nothing at all system? How many times do you need to be lied to, mislead, treated with enormous disrespect and dishonesty, have your funds stolen, misappropriated, lost, or hacked by this vaporware mentality?

Rule 1 in Life: If it sounds too good to be true, it is.

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June 23, 2012, 09:14:44 PM
 #987

If Bitcoinica's business model was viable, why shut it down? Why not fix the security problem and use the business profits to replace the stolen funds?

Bitcoinica will come back after a complete rewrite and all claims are processed.
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June 23, 2012, 09:15:26 PM
 #988

On June 10 I got a message stating:

Quote
Your claim has been reviewed and deemed accurate

However I have not seen a single cent returned to me. Nor have I received any response to my more recent claim update request. I am getting really tired of this waiting game.

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June 23, 2012, 09:16:05 PM
 #989

If Bitcoinica's business model was viable, why shut it down? Why not fix the security problem and use the business profits to replace the stolen funds?

Bitcoinica will come back after a complete rewrite and all claims are processed.

+1
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June 23, 2012, 09:25:38 PM
 #990

Has anyone emailed any of the bitcoinica related email addresses in this thread in the past week and received a response from anyone?
disclaimer201
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June 23, 2012, 09:33:13 PM
 #991

Has anyone emailed any of the bitcoinica related email addresses in this thread in the past week and received a response from anyone?

Last response via riseup was on Sunday 17th for me.

Transisto
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June 24, 2012, 06:10:13 AM
 #992

On June 10 I got a message stating:

Quote
Your claim has been reviewed and deemed accurate

However I have not seen a single cent returned to me. Nor have I received any response to my more recent claim update request. I am getting really tired of this waiting game.



Same for me in everything...
+1
Mushoz
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June 24, 2012, 11:25:18 AM
 #993

Where are the daily updates?

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kokjo
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June 24, 2012, 11:27:36 AM
 #994

If Bitcoinica's business model was viable, why shut it down? Why not fix the security problem and use the business profits to replace the stolen funds?

Bitcoinica will come back after a complete rewrite and all claims are processed.
so you will have 1000s new bugs. GOOD IDEA!

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
bremer-btc-user
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June 24, 2012, 11:50:49 AM
 #995

If Bitcoinica's business model was viable, why shut it down? Why not fix the security problem and use the business profits to replace the stolen funds?

Bitcoinica will come back after a complete rewrite and all claims are processed.

It would be nice if there would be more progress in processing payouts. I made my claim about 4 weeks ago when I understood there will no normal login and withdrawing my btc-ammount after a restart of bitcoinica... this was when i read that the database was lost without the possibility to restore it from any backups.


2012-05-11 bitcoinica. stated at it's homepage that the thief stole from bitcoinica not from any user at all and that all withdrawal requests will be honoured...

If this statement ist true, I assume that all claims should be paid out even if it's not possible to verify them more than to check if they had an account at all... fraudulent claims should be the risk of the owners...  If i remeber right then at one statement at this thread there was told that  all claims together had an ammunt of 125% of the original holdings in bitcoin before the hack... not too much penatly for a poor security-concept in my opinions...

„Würden die Menschen das Geldsystem verstehen, hätten wir eine Revolution noch vor morgen früh.“

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bulanula
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June 24, 2012, 01:00:06 PM
 #996

Cut them some slack guys. It is Sunday in UK.

Nobody works then ... they are not robots.
genjix
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June 24, 2012, 01:08:40 PM
 #997

Cut them some slack guys. It is Sunday in UK.

Nobody works then ... they are not robots.

I work everyday.

About the payouts: working on it. Not much to add except going slowly through accounts to verify the low hanging fruit. There are some accounts marked accurate but they aren't immediately paid because the balance is so large.It could be a devastating blow if a large amount is paid erroneously, so those accounts require more checking.
proudhon
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June 24, 2012, 01:19:22 PM
 #998

Cut them some slack guys. It is Sunday in UK.

Nobody works then ... they are not robots.

I work everyday.

About the payouts: working on it. Not much to add except going slowly through accounts to verify the low hanging fruit. There are some accounts marked accurate but they aren't immediately paid because the balance is so large.It could be a devastating blow if a large amount is paid erroneously, so those accounts require more checking.


Is there anything special I need to include in my emails to you guys.  I've emailed several times over the weeks and haven't gotten a response back.  Do I need a special subject line or something?
tarrant_01
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June 24, 2012, 01:23:11 PM
 #999

I only had $260 on there. I don't understand why it would take so long to verify/distribute that.

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ThePok
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June 24, 2012, 01:29:48 PM
 #1000

Every E-Mail and Question in the Forum he has to answer slows down the Paymentprocess..let the man do its work!!
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