Phinnaeus Gage
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Bitcoin: An Idea Worth Spending
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July 30, 2012, 07:59:06 PM Last edit: July 30, 2012, 08:22:32 PM by Phinnaeus Gage |
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Does Patrick A Murck have a twin brother named William who also practices law at the same DC address? That would be so nifty is he does.
~Bruno~
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repentance
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July 30, 2012, 08:26:07 PM |
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Sorry, I still don't get under what authority is Patrick Murck allowed to receive, possess and transfer stolen goods? There must be some sort of judicial process which results in the granting of a warrant to do so? Please Patrick Murck, lets have all the facts and proof.
It's unlikely that there's going to be an issue regarding him receiving or holding the funds in trust. Where an issue potentially arises is the transferring of the funds to someone else and I'm sure that Patrick's going to do everything possible to protect himself from any potential liability in that respect. As an interesting side note, if a NZ entity becomes insolvent and a creditor helps secure assets or uncover hidden ones, the creditor's costs associated with securing those assets become a preferential debt.
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All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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Vod
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Licking my boob since 1970
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July 30, 2012, 08:27:39 PM |
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It's unlikely that there's going to be an issue regarding him receiving or holding the funds in trust. Where an issue potentially arises is the transferring of the funds to someone else and I'm sure that Patrick's going to do everything possible to protect himself from any potential liability in that respect.
As an interesting side note, if a NZ entity becomes insolvent and a creditor helps secure assets or uncover hidden ones, the creditor's costs associated with securing those assets become a preferential debt.
Patrick is probably getting paid for "helping" us, and each time he comes to the forum to answer questions, he bills for his time. He'll take his fees out of the balance the users get.
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I post for interest - not signature spam. https://vod.fan - fast/free image sharing - coming Oct! Will Theymos finish his $100,000,000 forum before this one shuts down?
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Phinnaeus Gage
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Bitcoin: An Idea Worth Spending
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July 30, 2012, 08:29:56 PM |
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It's unlikely that there's going to be an issue regarding him receiving or holding the funds in trust. Where an issue potentially arises is the transferring of the funds to someone else and I'm sure that Patrick's going to do everything possible to protect himself from any potential liability in that respect.
As an interesting side note, if a NZ entity becomes insolvent and a creditor helps secure assets or uncover hidden ones, the creditor's costs associated with securing those assets become a preferential debt.
Patrick is probably getting paid for "helping" us, and each time he comes to the forum to answer questions, he bills for his time. He'll take his fees out of the balance the users get. Can a lawyer do that when located in a state where he doesn't practice law? ~Bruno~
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repentance
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July 30, 2012, 08:31:52 PM |
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It's unlikely that there's going to be an issue regarding him receiving or holding the funds in trust. Where an issue potentially arises is the transferring of the funds to someone else and I'm sure that Patrick's going to do everything possible to protect himself from any potential liability in that respect.
As an interesting side note, if a NZ entity becomes insolvent and a creditor helps secure assets or uncover hidden ones, the creditor's costs associated with securing those assets become a preferential debt.
Patrick is probably getting paid for "helping" us, and each time he comes to the forum to answer questions, he bills for his time. He'll take his fees out of the balance the users get. It's a trivial matter to ask those who've retained him in this matter whether they intend to absorb the cost of his fees relating to this issue.
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All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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ninjarobot
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July 30, 2012, 08:42:16 PM |
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Thank you for that link. I filed a complaint on Bitcoinica LP's business practices @ FSPR Compliance < compliance@fspr.govt.nz>.
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check_status
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July 30, 2012, 09:13:06 PM |
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Especially the part, he found that for about $130 and a small amount of online paperwork, he could set up a shell company in New Zealand without stepping foot in the country or having any financial presence.
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For Bitcoin to be a true global currency the value of BTC needs always to rise. If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76. P2Pool Server List | How To's and Guides Mega List | 1 EndfedSryGUZK9sPrdvxHntYzv2EBexGA
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Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem
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July 30, 2012, 09:19:15 PM |
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It's unlikely that there's going to be an issue regarding him receiving or holding the funds in trust. Where an issue potentially arises is the transferring of the funds to someone else and I'm sure that Patrick's going to do everything possible to protect himself from any potential liability in that respect.
As an interesting side note, if a NZ entity becomes insolvent and a creditor helps secure assets or uncover hidden ones, the creditor's costs associated with securing those assets become a preferential debt.
Patrick is probably getting paid for "helping" us, and each time he comes to the forum to answer questions, he bills for his time. He'll take his fees out of the balance the users get. It's a trivial matter to ask those who've retained him in this matter whether they intend to absorb the cost of his fees relating to this issue. Patrick Murck will not be taking fee's from the balance of the funds recovered. His fee's are paid for.He will be making a statement soon, but the funds are safe. He has a good team of lawyers in the gamification and virtual currency space and knows the legalities well. The claims process needs to get done much faster -Charlie
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Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com
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repentance
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July 30, 2012, 09:32:15 PM |
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The claims process needs to get done much faster
-Charlie
I don't disagree with you regarding this but I don't think the claims processing can be legitimately restarted until all of the promised funds have been returned by Chen. If Bitcoinica starts paying people pro-rata today based on what's been promised and then those funds are not recovered, they will not be in a position to treat all creditors equally and that will create yet another legal shitstorm. They could pay a percentage based on funds on hand right now and then make further payments as additional funds become available, but it's not an efficient way to handle the process and every extra step introduces more possibility of additional fuck ups. I would feel differently if those who want Bitcoinica to restart the payment process before all of the promised funds have been delivered by Chen were undertaking to pay any short-fall themselves in the event that Chen returns only part of what's been promised.
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All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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kiba
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July 30, 2012, 09:35:30 PM |
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Can somebody give me a TL;DR situation on this whole Patrick thing?
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dopamine
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July 30, 2012, 09:36:32 PM |
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A update needs to be done ASAP, last update was 2012-06-17, in legal terms this is negligence.
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Bitcoinica still has not given me 50% of my claim of 600 BTC INTERSANGO can go down with bitcoinica for abandoning customers Alberto Armandi is a SCAMMER
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Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem
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July 30, 2012, 09:41:05 PM |
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The claims process needs to get done much faster
-Charlie
I don't disagree with you regarding this but I don't think the claims processing can be legitimately restarted until all of the promised funds have been returned by Chen. Your right, but I have no involvement with that. Has anyone gone after this guy? Zhou or Chen...someone's gotta pay up
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Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com
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JoelKatz
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Democracy is vulnerable to a 51% attack.
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July 30, 2012, 10:39:57 PM |
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The worst case scenario would be if they start making proportional payments to the largest depositors based on assets they believe they currently hold only to discover they no longer hold those assets. For example, imagine if they calculated they could make 85% payouts prior to this last theft and started making those payouts. Then they discover the theft and no longer have enough funds to make 85% payouts. Then what?
On the flip side, the longer they hold the money, the less chance there will be any left to distributed.
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I am an employee of Ripple. Follow me on Twitter @JoelKatz 1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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DarkEmi
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July 30, 2012, 11:19:10 PM |
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I would like to thank roger from memorydealer, patrick & the exchanges as well as all the others helping in the process and the honnest people trying to gather information here and there.
You guys have helped me sleep better these last few days, and I imagine the other creditors as well. Needless to say I am 100% supporting any action trying to go forward.
I have 5021 btc in claim and lets say that I have been more than disapointed by the bitcoinica management from intersango. I am not saying more because attacks are useless but you can imagine how I feel about them. I am still unsure about Zhou so I'll left this at it...
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check_status
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July 31, 2012, 12:07:11 AM |
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Also any official/legal correspondence can be mailed to:
po.box.zhoutong.com PO Box 465 Carlton South VIC 3053 Australia
(Yes, please address it with "po.box.zhoutong.com" instead of my name.) Our Services:
We redirect: Postal Mail, Packages, Courier Shipments, Voicemail, Fax & E-mail, and GUARANTEE a totally anonymous and confidential service.
Our clients consist of a wide range of businesses & people including: Internet Business Owners, Offshore Corporations, Business Executives, Tourists, Backpackers, Yachties, Military Personnel, Celebrities, Debtors, MLM'ers & Affiliates, etc.
Your own Australian PO Box & Street Mail Forwarding Address (and Virtual Office Service) ... all with Complete Confidentiality.
Our "Moneyback Guarantee" provides you with complete security and peace of mind.
Simply click Offshore PO Box & International Mail Forwarding Service for further information, and don't forget to check our TESTIMONIALS. Private Australian Mail Forwarding Address Forwarding & Redirection Email Forwarding Fax & Voice-mail Forwarding A Street & PO Box Address Free Anonymous E-mail Address and Forwarding Virtual Office Service http://www.pobox.iwarp.com/Is this a legitimate service?
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For Bitcoin to be a true global currency the value of BTC needs always to rise. If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76. P2Pool Server List | How To's and Guides Mega List | 1 EndfedSryGUZK9sPrdvxHntYzv2EBexGA
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virtuallylaw
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July 31, 2012, 12:14:24 AM |
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All,
I know you would all like more frequent updates. I am doing my best to keep people informed while also maintaining confidences and frankly finding time to post.
So it's clear, my first priority is to help get funds distributed back to claimants in a fast, fair and orderly process. Unfortunately, there are some things that need to be addressed and processes followed to make that happen. These things take time and effort, so if you feel that I'm not keeping people in the loop it's probably because I'm spending my time aggressively pursuing the objective stated above.
There will be more news to announce soon. Things are happening and getting resolved. I'm sure everyone here can appreciate that this is a complex matter and it's not going to happen overnight.
Additionally, so there isn't any confusion or misunderstanding. The funds that have been most recently recovered are being moved to a safer form of cold storage. I will post details of the transaction here shortly.
Thank you for your patience, Patrick
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check_status
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July 31, 2012, 12:37:12 AM |
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The funds that have been most recently recovered are being moved to a safer form of cold storage. Patrick
This type of GCold storage? I hope this turns out to be a good thing for the investors. What percentage do you expect will be restored and how much involvement will Intersango have in the process?
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For Bitcoin to be a true global currency the value of BTC needs always to rise. If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76. P2Pool Server List | How To's and Guides Mega List | 1 EndfedSryGUZK9sPrdvxHntYzv2EBexGA
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virtuallylaw
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July 31, 2012, 02:26:34 AM |
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kiba
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July 31, 2012, 03:08:20 AM |
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All,
I know you would all like more frequent updates. I am doing my best to keep people informed while also maintaining confidences and frankly finding time to post.
So it's clear, my first priority is to help get funds distributed back to claimants in a fast, fair and orderly process. Unfortunately, there are some things that need to be addressed and processes followed to make that happen. These things take time and effort, so if you feel that I'm not keeping people in the loop it's probably because I'm spending my time aggressively pursuing the objective stated above.
There will be more news to announce soon. Things are happening and getting resolved. I'm sure everyone here can appreciate that this is a complex matter and it's not going to happen overnight.
Additionally, so there isn't any confusion or misunderstanding. The funds that have been most recently recovered are being moved to a safer form of cold storage. I will post details of the transaction here shortly.
Thank you for your patience, Patrick
How much do you understand about bitcoin? Are you briefed on how to store it properly? I hope you don't forget the password or something No offense to you, but if Tihan managed to screw it up by storing bitcoin in a hot wallet, then I am going to be skeptical of anybody who's holding money.
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