virtuallylaw
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Activity: 25
Merit: 0
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July 31, 2012, 03:21:13 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. I can't discuss any details for obvious, security reasons. But I do understand your concern. |
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Yankee (BitInstant)
Legendary
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Activity: 1078
Merit: 1000
Charlie 'Van Bitcoin' Shrem
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July 31, 2012, 03:27:05 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. Kiba, Patrick has been our Director of Legal Affairs and is extremely well versed in Bitcoin. I can tell you that top community members and security expects helped Patrick secure these funds. |
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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casascius
Mike Caldwell
VIP
Legendary
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Activity: 1386
Merit: 1140
The Casascius 1oz 10BTC Silver Round (w/ Gold B)
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July 31, 2012, 03:53:09 AM |
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Kiba, Patrick has been our Director of Legal Affairs and is extremely well versed in Bitcoin.
I can tell you that top community members and security expects helped Patrick secure these funds.
+1 they did some good due diligence and they're likely safe and sound. |
Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable. I never believe them. If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins. I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion. Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice. Don't keep coins online. Use paper or hardware wallets instead.
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BitBuster
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Activity: 101
Merit: 10
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July 31, 2012, 11:55:53 AM |
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It's unlikely that there's going to be an issue regarding him receiving or holding the funds in trust. I politely disagree. The National Stolen Property Act makes illegal any of the following acts: Transportation Transmittal Transfer Receipt Possession Concealment Storage Barter Sale, or Disposal of any goods, wares, merchandise, securities, money or articles used in counterfeiting valued at $5,000 or more. The courts have held that the goods need not be stolen in the U.S. nor be owned by a U.S. citizen to be subject to the Act. I note that in his most recent response (which actually tells us nothing new), Patrick has again neglected to tell us if he has obtained a warrant for his actions and what he is permitted to do. As you should all be able to tell, this is a pretty important area of ambiguity that needs clarification. Please answer the question Patrick. BB. |
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lonelyminer (Peter Šurda)
Donator
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Activity: 544
Merit: 500
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July 31, 2012, 12:22:30 PM |
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I note that in his most recent response (which actually tells us nothing new), Patrick has again neglected to tell us if he has obtained a warrant for his actions and what he is permitted to do. As you should all be able to tell, this is a pretty important area of ambiguity that needs clarification. Please answer the question Patrick.
Patrick acted upon the request of Bitcoinica's creditors. Since Bitcoinica, to our best knowledge, did not file a police report, nor seems to care whether the funds are returned to the creditors or not, it might be possible to argue that the creditors are the legitimate owners. |
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BitBuster
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Activity: 101
Merit: 10
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July 31, 2012, 12:48:10 PM |
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I'm not talking about permission from Bitcoinica/Intersango, I'm talking about a legal warrant that allows him to do what would otherwise be considered a criminal act. On what legal authority is he operating?
BB.
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World
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July 31, 2012, 12:53:26 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.
+1 |
Supporting people with beautiful creative ideas. Bitcoin is because of the developers,exchanges,merchants,miners,investors,users,machines and blockchain technologies work together.
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aq
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July 31, 2012, 12:56:11 PM |
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I note that in his most recent response (which actually tells us nothing new), Patrick has again neglected to tell us if he has obtained a warrant for his actions and what he is permitted to do. As you should all be able to tell, this is a pretty important area of ambiguity that needs clarification. Please answer the question Patrick.
Patrick acted upon the request of Bitcoinica's creditors. Since Bitcoinica, to our best knowledge, did not file a police report, nor seems to care whether the funds are returned to the creditors or not, it might be possible to argue that the creditors are the legitimate owners. ^this - therefor: I'm not talking about permission from Bitcoinica/Intersango, I'm talking about a legal warrant that allows him to do what would otherwise be considered a criminal act. On what legal authority is he operating?
Funds have been stolen? They have been in some sort of safe deposit at ZT, and now they are on their way to the creditors. All is fine. |
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Gyrsur
Legendary
Offline
Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
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July 31, 2012, 01:02:37 PM |
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I note that in his most recent response (which actually tells us nothing new), Patrick has again neglected to tell us if he has obtained a warrant for his actions and what he is permitted to do. As you should all be able to tell, this is a pretty important area of ambiguity that needs clarification. Please answer the question Patrick.
Patrick acted upon the request of Bitcoinica's creditors. Since Bitcoinica, to our best knowledge, did not file a police report, nor seems to care whether the funds are returned to the creditors or not, it might be possible to argue that the creditors are the legitimate owners. ^this - therefor: I'm not talking about permission from Bitcoinica/Intersango, I'm talking about a legal warrant that allows him to do what would otherwise be considered a criminal act. On what legal authority is he operating?
...They have been in some sort of safe deposit at ZT, and now they are on their way to the creditors.... How much of the funds? |
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Vod
Legendary
Offline
Activity: 3878
Merit: 3166
Licking my boob since 1970
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July 31, 2012, 01:05:31 PM |
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Funds have been stolen? They have been in some sort of safe deposit at ZT, and now they are on their way to the creditors. All is fine.
Not quite. ZT stole 20k of bitcoins - only 15k have been recovered. What happened to the other 5k? Are we giving them to ZT as a thank you gift? |
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defxor
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July 31, 2012, 01:10:09 PM |
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Funds have been stolen? They have been in some sort of safe deposit at ZT, and now they are on their way to the creditors. All is fine.
Not quite. ZT stole 20k of bitcoins - only 15k have been recovered. What happened to the other 5k? Are we giving them to ZT as a thank you gift? 40K BTC and 40K USD were taken. https://bitcointalk.org/index.php?topic=93074 |
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Gyrsur
Legendary
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Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
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July 31, 2012, 01:30:04 PM |
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Funds have been stolen? They have been in some sort of safe deposit at ZT, and now they are on their way to the creditors. All is fine.
Not quite. ZT stole 20k of bitcoins - only 15k have been recovered. What happened to the other 5k? Are we giving them to ZT as a thank you gift? 40K BTC and 40K USD were taken. https://bitcointalk.org/index.php?topic=93074 |
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Matthew N. Wright
Untrustworthy
Hero Member
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Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
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July 31, 2012, 01:32:39 PM |
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Truth 6: I didn't steal the money.
ZT stole 20k of bitcoins
At least Zhou is providing information. What are you doing other than frothing? |
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Vod
Legendary
Offline
Activity: 3878
Merit: 3166
Licking my boob since 1970
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July 31, 2012, 01:41:13 PM |
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Truth 6: I didn't steal the money.
ZT stole 20k of bitcoins
At least Zhou is providing information. What are you doing other than frothing? I can do whatever I want - I didn't steal coins from the community. |
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Matthew N. Wright
Untrustworthy
Hero Member
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Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
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July 31, 2012, 01:44:35 PM |
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Truth 6: I didn't steal the money.
ZT stole 20k of bitcoins
At least Zhou is providing information. What are you doing other than frothing? I can do whatever I want - I didn't steal coins from the community. So basically you're saying Zhou Tong can do whatever he wants as well? |
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BitBuster
Member
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Activity: 101
Merit: 10
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July 31, 2012, 01:49:11 PM |
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Typing something as Truth does not make it so. Especially when up against the array of evidence, means and motive to the contrary. Not forgetting Zhou's prime bullshit storytelling.
BB.
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dree12
Legendary
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Activity: 1246
Merit: 1078
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July 31, 2012, 01:51:34 PM |
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Typing something as Truth does not make it so. Especially when up against the array of evidence, means and motive to the contrary. Not forgetting Zhou's prime bullshit storytelling.
BB.
This applies to you as well. Need I point out again the array of evidence that Zhou did not steal the funds? |
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Gyrsur
Legendary
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Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
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July 31, 2012, 01:53:40 PM |
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Typing something as Truth does not make it so. Especially when up against the array of evidence, means and motive to the contrary. Not forgetting Zhou's prime bullshit storytelling.
BB.
This applies to you as well. Need I point out again the array of evidence that Zhou did not steal the funds? ZT didn't steal the money but his "Buddy"! |
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Vod
Legendary
Offline
Activity: 3878
Merit: 3166
Licking my boob since 1970
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July 31, 2012, 01:54:33 PM |
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Typing something as Truth does not make it so. Especially when up against the array of evidence, means and motive to the contrary. Not forgetting Zhou's prime bullshit storytelling.
BB.
This applies to you as well. Need I point out again the array of evidence that Zhou did not steal the funds? Please do! All the evidence points to Zhou stealing the funds. Even Zhou himself validated the evidence by saying it was correct but he was framed. Zhou never provided any evidence this "friend" even existed. All he did was say it.  You're just one of those people who believes everything they are told.  Time to go to church, Mr gullible! |
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Matthew N. Wright
Untrustworthy
Hero Member
Offline
Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
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July 31, 2012, 01:55:22 PM |
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Typing something as Truth does not make it so. Especially when up against the array of evidence, means and motive to the contrary. Not forgetting Zhou's prime bullshit storytelling.
BB.
This applies to you as well. Need I point out again the array of evidence that Zhou did not steal the funds? ZT didn't steal the money but his "Buddy"! Can you find the post where Zhou said his buddy stole any funds? I'm having trouble finding that post... |
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