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Author Topic: Personal contribution of 5,000 BTC to affected Bitcoinica customers  (Read 11631 times)
Serge
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July 15, 2012, 07:55:31 AM
 #81

I already updated my bitcoinica claim to deduct your donation Wink

then it may not be accurate claim in the view of bitcoinica
if bitcoinica ever pays full amount it would be ideal in that case just to return Zhou what he covered out of his own pocket
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July 15, 2012, 08:02:36 AM
 #82

I already updated my bitcoinica claim to deduct your donation Wink

You don't have to do that. This program shouldn't affect your claim at Bitcoinica.

I believe that Bitcoinica wants objective data, not overstated and not understated either.

When Bitcoinica pays in full, just return the coins to me. Any residual on Bitcoinica's account doesn't belong to me anyway.


ohh sorry, a little late XD just wanted to be as transparent as possible, however  I see far away the full refund, first 50%, may now be 30%.

Anyway, whenever I have opportunity, no doubt in make you a donation.

Sorry for my bad english Wink
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July 15, 2012, 08:10:40 AM
 #83

I already updated my bitcoinica claim to deduct your donation Wink

then it may not be accurate claim in the view of bitcoinica
if bitcoinica ever pays full amount it would be ideal in that case just to return Zhou what he covered out of his own pocket

My claim has been marked as accurate for weeks and nothing. In any case, this harm me, because now the percentage to be paid represent less.

Sorry for my bad english Wink
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July 15, 2012, 08:44:50 AM
 #84

Thanks Zhou received my payment.
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July 15, 2012, 09:04:48 AM
 #85

Thanks Zhou, received.

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
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July 15, 2012, 09:07:54 AM
 #86

6.5188 BTC recieved, thanks for this.

Even though it's only a portion of my deposit, it still feels comforting that someone is trying to make things right (with actual actions!).  A refreshing change to the vulnerability/despair I've been feeling from how the other guys have been handling this.
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July 15, 2012, 09:23:32 AM
 #87

Thank you! I'll return the money if i will ever get the reimbourse from bitcoinica!
Thanks again!  Cheesy

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July 15, 2012, 09:35:43 AM
 #88

0.0624 BTC to 1G5apmPvo2iTtmkNWAHTCET7Y842Ufijs8 received, almost $0.50 - I wonder why you bothered as Bitcoinica stole 1,000 BTC from me when illegally changing the TOS under which I'd deposited & opened positions when you introduced the swaps, I said at the time that I was amazed to have even be able to get any of my money back out from what was obviously a crooked operation.

I prefer to trust people more than most & pay a tax for that trust that I accept is it's price, but I also get to often see the karma that ppl who have ripped me off bring upon themselves, Bitcoinica is a classic example, but it also works personally on those who are responsible - who made the decisions & implemented them, it never goes away - it just gets worse until a just restitution is made.

So every time that you look at or think about the 1,000 BTC Casasius coin that you bought, just remember that there is someone who lost that exact same amount of money through your deliberate dishonest & greedy actions, that is now your reputation at the start of your career which will follow you always.

Otoh

Edit: The 0.0624 BTC now sent to a Bitcoin black hole, the genesis block address: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
https://blockchain.info/tx-index/12232710/422fe9cac2e042f217a307d9ed78223b19760deceafef81dc7495f2ac326d440

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July 15, 2012, 09:57:41 AM
 #89

0.0624 BTC to 1G5apmPvo2iTtmkNWAHTCET7Y842Ufijs8 received, almost $0.50 - I wonder why you bothered as Bitcoinica stole 1,000 BTC from me when illegally changing the TOS under which I'd deposited & opened positions when you introduced the swaps, I said at the time that I was amazed to have even be able to get any of my money back out from what was obviously a crooked operation.

I prefer to trust people more than most & pay a tax for that trust that I accept is it's price, but I also get to often see the karma that ppl who have ripped me off bring upon themselves, Bitcoinica is a classic example, but it also works personally on those who are responsible - who made the decisions & implemented them, it never goes away - it just gets worse until a just restitution is made.

So every time that you look at or think about the 1,000 BTC Casasius coin that you bought, just remember that there is someone who lost that exact same amount of money through your deliberate dishonest & greedy actions, that is now your reputation at the start of your career which will follow you always.

Otoh

I didn't write the TOS. I was instructed to do so. I didn't get a cent of your swap money.

I understand your desperation, but this is not the place to ask for help. You legally deserve the money Bitcoinica owes you. But I definitely didn't do anything dishonest or greedy.

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
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July 15, 2012, 10:08:57 AM
 #90

Payment received, thank you ZhouTong.
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July 15, 2012, 10:11:43 AM
 #91


He sold this in October. Honestly what he should have done was just walked away then. But he was being paid $8,000 a month to keep the site up. I'm pretty sure I would have done what he did.

Tihan and team seem to be the one who changed things and then sent it over to Intersango. After Zhou sold he took orders as an employee and did not give them.

A whole lot got fucked up but I don't know how much of this can be blamed on Zhou. I'm sure we will learn in court soon enough...

Not only that - the change in management was announced publicly on 24 April.  People did have the option of withdrawing their money when that change was announced.  Zhou certainly can't be blamed for people not doing that - he's not responsible for users choosing to put their faith in the
Intersango guys.  

It's highly possible that the final of the sale of the domain and the IP was not completed until January (when Zhou says he ceased to have any financial interest in Bitcoinica).  It's not unusual for business sales to include a period where the vendor works with the new owners to ensure a smooth transition and for the deal not to be final until that transition is completed. Tihan's an experienced venture capitalist.  I have no doubt that his group's investment was contingent on certain conditions.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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July 15, 2012, 10:20:17 AM
 #92

zhoutong,

Thank you for your personal contribution. Payment received.
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July 15, 2012, 10:24:37 AM
 #93

Not only that - the change in management was announced publicly on 24 April.  People did have the option of withdrawing their money when that change was announced.  Zhou certainly can't be blamed for people not doing that - he's not responsible for users choosing to put their faith in the
Intersango guys.  

That is true, but there were certainly a lot of loose ends that might have caused people to believe he was still CEO. For example I've received emails from the Bitcoinica Support autoresponder after April 24 that still stated Zhou as the CEO:

Quote
Bitcoinica tender2+daefcda907d53697f171517e82c32b8aac39da4f9@tenderapp.com
Apr 26

Hello [X]!

This is an automated response from Bitcoinica. Thank you very much for your inquiry.
We try and respond to our support requests within a few hours.

Based on your support request, we think you should check out the following articles in our FAQ:

  - "What's Bitcoinica?" at http://help.bitcoinica.com/kb/faq/whats-bitcoinica

We'll send an email to you (at [X]@gmail.com) when we update your support request.
Alternatively, you can keep track of this conversation at http://help.bitcoinica.com/discussions/suggestions/136-footer-logo-on-bitcoinicacom-is-broken

Thanks again!

Zhou Tong
CEO & Lead Developer

Also I believe his sig on bitcointalk.org listed him as CEO until sometime after this date. (I could be wrong here)
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July 15, 2012, 10:31:33 AM
 #94

0.0624 BTC to 1G5apmPvo2iTtmkNWAHTCET7Y842Ufijs8 received, almost $0.50 - I wonder why you bothered as Bitcoinica stole 1,000 BTC from me when illegally changing the TOS under which I'd deposited & opened positions when you introduced the swaps, I said at the time that I was amazed to have even be able to get any of my money back out from what was obviously a crooked operation.

I prefer to trust people more than most & pay a tax for that trust that I accept is it's price, but I also get to often see the karma that ppl who have ripped me off bring upon themselves, Bitcoinica is a classic example, but it also works personally on those who are responsible - who made the decisions & implemented them, it never goes away - it just gets worse until a just restitution is made.

So every time that you look at or think about the 1,000 BTC Casasius coin that you bought, just remember that there is someone who lost that exact same amount of money through your deliberate dishonest & greedy actions, that is now your reputation at the start of your career which will follow you always.

Otoh

I didn't write the TOS. I was instructed to do so. I didn't get a cent of your swap money.

I understand your desperation, but this is not the place to ask for help. You legally deserve the money Bitcoinica owes you. But I definitely didn't do anything dishonest or greedy.

I deposited money with you & opened positions with Bitcoinica when you were the sole owner & CEO, I trusted you personally, you subsequently sold the business in secret while for months after untruthfully still claiming to be the founder & CEO of Bitcoinica - I still trusted your word, now you claim that you were merely following orders when you introduced the swaps which trapped me in a position that was being bleed dry because of this - I had no choice but to close out my now untenable positions for a loss of 1,000 BTC & I hold both you & the secret owners behind the scenes both morally & legally responsible for my loss.

I am neither desperate nor asking for help, I am just pointing out that every action has a consequence.

Node40.com is a leader in DASH hosting, dedicated exclusively to fully managed masternode hosting. Professional, organized, and responsive. I have many dozens of nodes with them.    
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July 15, 2012, 10:46:00 AM
 #95

Coins received, thank you Zhou, you are the man.

If they would allow you to resolve this situation from the start, it would be long over by now, and latest hack would not happen.

Thanks again.
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July 15, 2012, 10:49:35 AM
 #96

Wow zhoutong. Thanks. That was fast.

speculate on the mtgox price - http://www.btcoracle.com/
buy Mastercoin - http://masterxchange.com
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July 15, 2012, 10:52:46 AM
 #97

Not only that - the change in management was announced publicly on 24 April.  People did have the option of withdrawing their money when that change was announced.  Zhou certainly can't be blamed for people not doing that - he's not responsible for users choosing to put their faith in the
Intersango guys.  

That is true, but there were certainly a lot of loose ends that might have caused people to believe he was still CEO. For example I've received emails from the Bitcoinica Support autoresponder after April 24 that still stated Zhou as the CEO:

Quote
Bitcoinica tender2+daefcda907d53697f171517e82c32b8aac39da4f9@tenderapp.com
Apr 26

Hello [X]!

This is an automated response from Bitcoinica. Thank you very much for your inquiry.
We try and respond to our support requests within a few hours.

Based on your support request, we think you should check out the following articles in our FAQ:

  - "What's Bitcoinica?" at http://help.bitcoinica.com/kb/faq/whats-bitcoinica

We'll send an email to you (at [X]@gmail.com) when we update your support request.
Alternatively, you can keep track of this conversation at http://help.bitcoinica.com/discussions/suggestions/136-footer-logo-on-bitcoinicacom-is-broken

Thanks again!

Zhou Tong
CEO & Lead Developer

Also I believe his sig on bitcointalk.org listed him as CEO until sometime after this date. (I could be wrong here)

He says in his resignation thread that he was CEO and lead developer from 4 September 2011 to 21 April 2012 and that his position after that was unknown (that's not as implausible as it might sound - it doesn't sound like the general partners were in any hurry to deal with mundane issues like defining roles within the new structure).

Apart from the thread in which it was announced that the Intersango guys would be running Bitcoinica, I seem to recall that Zhou also started a separate thread in which he explicitly said he was getting out of Bitcoin projects for the time being and would be developing other ideas.  I don't recall either of those threads getting much traction until after the May intrusion.

If it weren't for the recent losses, many people would have hailed the change in Bitcoinica management as the best thing since sliced bread - remember that many people doubted Zhou's ability to run the business as it expanded. Those people would probably have been ecstatic to learn that behind the scenes deals had resulted in the Intersango guys were taking over Bitcoinica operations...had the two most recent intrusions not happened.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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July 15, 2012, 12:51:12 PM
 #98

Thank you, Zhou. Received part of my funds - every little helps. Far better than ‘allocating’ from Consultancy. Will let them know the amount just in case someone decent will take over this compensation kerfuffle. Wish it was you, as I’m sure many others do, but cannot honestly recommend it Smiley

You had done more than enough to confirm your upstanding reputation as it is, and I’m sure will enjoy a well deserved support in your future endeavours. Just keep us informed of them please.
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July 15, 2012, 01:10:03 PM
 #99

Thanks Zhou... 8 minutes of hard work compared to 2+months... Smiley u r the man..!
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July 15, 2012, 01:38:53 PM
 #100

Received! Thank you very much Zhoutong!

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