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Question: How should we deal with this Zhoutong/Bitcoinica situation?
Tar, feather and hang Zhou Tong
Militarily invade China/Singapore
Stage a riot in the streets of LA
Abandon Bitcoin altogether because it has clearly failed
Handover Bitcoin to the Feds so this won't happen again
Complain some more
Have Maria handle it "her way"
Devalue Bitcoins by forking the source so Zhoutong may never enjoy his bounty
Rewrite Bitcoinica code slightly and repeat scam on future newbies
Blame it on the Germans

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Author Topic: How should we deal with this Zhoutong/Bitcoinica situation?  (Read 2448 times)
Vod
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Licking my boob since 1970


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July 27, 2012, 05:39:20 PM
 #21

So we just let a 17 year old kid steal $500,000 from us and do nothing

Kids don't bear responsibility for their deeds.

That's not true.  In a deliberate and planned theft of half a million dollars, he would be charged as an adult and probably spend 2-5 years in prison.

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
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Vod
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July 27, 2012, 05:41:13 PM
 #22

Anyway, I need to know Zhou Tong's real name.  Does anyone have that?

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
I will ignore your Prayer Messages unless you donate to 1CDyx8AUTiYXS1ThcBU3vy4SJWQq6pdFMH
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ElectricMucus
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God of the code.


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July 27, 2012, 05:50:26 PM
 #23



mfw I clicked on the most popular vote
FreeMoney
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Strength in numbers


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July 27, 2012, 05:50:50 PM
 #24

I can't believe that "make another thread" isn't winning.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
EnergyVampire
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July 27, 2012, 05:59:11 PM
 #25

So we just let a 17 year old kid steal $500,000 from us and do nothing?  

Kids don't bear responsibility for their deeds.

That's not true.  In a deliberate and planned theft of half a million dollars, he would be charged as an adult and probably spend 2-5 years in prison.

Probably more than 5 years...

-Conspiracy to intentionally cause damage without authorization to a protected computer is punishable by up to five years in prison.
-Intentionally causing damage to a protected computer resulting with a loss of more than $5,000 is punishable by up to ten years in prison and a $250,000 fine.  
-Possession of more than 15 unauthorized access devices is punishable by up to ten years in prison and a $250,000 fine.
-Aggravated identity theft is punishable by an additional two years in prison on top of any sentence for the underlying crimes.

This is just some or the possible charges in the U.S. alone.

And if the prosecutors can prove money laundering and/or aiding and abetting criminals or terrorist groups then it could get really ugly. If this is the case then imprisonment in Guantanamo Bay Detention Camp is on the table.


Come-from-Beyond
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July 27, 2012, 06:17:07 PM
 #26

It's for 18+ y.o. adults.
goodlord666
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100%


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July 27, 2012, 06:36:13 PM
 #27

I can't believe that "make another thread" isn't winning.

Because it's none of the options listed? .....



BadBear
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July 27, 2012, 06:44:00 PM
 #28

I can't believe that "make another thread" isn't winning.

Because it's none of the options listed? .....




Voted complain some more, it's close enough.

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repentance
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July 27, 2012, 09:15:43 PM
 #29

So we just let a 17 year old kid steal $500,000 from us and do nothing

Kids don't bear responsibility for their deeds.

That's not true under most Western legal systems.  Possible punishments would vary dramatically by jurisdiction, though.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
bg002h
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I outlived my lifetime membership:)


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July 27, 2012, 11:55:39 PM
 #30

So we just let a 17 year old kid steal $500,000 from us and do nothing

Kids don't bear responsibility for their deeds.

That's not true under most Western legal systems.  Possible punishments would vary dramatically by jurisdiction, though.

If I were running bitcoinica, I'd blame some kid too. I was rather taken aback at their deliberate attempt to make people believe that they know the one person who did it, rather than simply stating the evidence and demanding an explanation. Or better yet, to talk to the kid in private first and then go public with the findings. It's not just highly unprofessional to do it the way they did...it casts strong doubts on their motives. I don't think many people are paying attention to the deliberate attempt to sway opinion without argument.

Hardfork aren't that hard.
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July 28, 2012, 03:45:06 AM
 #31


If I were running bitcoinica, I'd blame some kid too. I was rather taken aback at their deliberate attempt to make people believe that they know the one person who did it, rather than simply stating the evidence and demanding an explanation. Or better yet, to talk to the kid in private first and then go public with the findings. It's not just highly unprofessional to do it the way they did...it casts strong doubts on their motives. I don't think many people are paying attention to the deliberate attempt to sway opinion without argument.

It wasn't Bitcoinica who released the information related to the alleged transactions by Zhou.  Mark said he tried to contact them regarding the information and they didn't respond.  Tihan says that when the information was brought to his attention, he told AurumXchange and MtGox to ask Zhou about the matter privately and that he doesn't believe Zhou is responsible.  Amir has asked people not to jump to conclusions based on the AurumXchange statement. There are a shit ton of reasons to criticise Bitcoinica, but they aren't the ones who came out accusing Zhou of the MtGox breach.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
Bitcoin Oz
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Wat


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July 28, 2012, 04:07:50 AM
 #32

You forgot the option "Hire Tom Williams to run your exchange"

repentance
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July 28, 2012, 04:56:16 AM
 #33

Funny, a few months ago everyone on this forum was sucking Zhoutong’s ass like it was made of ice cream and now he’s the Antichrist.

This happens with pretty much every new service.  It's hailed as the best thing since sliced bread and within months the discontent sets in and it's being labelled a scam.  Same thing happens with new payment methods.  This community has little capacity to learn from past experience, it seems.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
Phinnaeus Gage
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Bitcoin: An Idea Worth Spending


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July 28, 2012, 05:18:27 AM
 #34

So we just let a 17 year old kid steal $500,000 from us and do nothing?  

Kids don't bear responsibility for their deeds.

That's not true.  In a deliberate and planned theft of half a million dollars, he would be charged as an adult and probably spend 2-5 years in prison.

Probably more than 5 years...

-Conspiracy to intentionally cause damage without authorization to a protected computer is punishable by up to five years in prison.
-Intentionally causing damage to a protected computer resulting with a loss of more than $5,000 is punishable by up to ten years in prison and a $250,000 fine.  
-Possession of more than 15 unauthorized access devices is punishable by up to ten years in prison and a $250,000 fine.
-Aggravated identity theft is punishable by an additional two years in prison on top of any sentence for the underlying crimes.

This is just some or the possible charges in the U.S. alone.

And if the prosecutors can prove money laundering and/or aiding and abetting criminals or terrorist groups then it could get really ugly. If this is the case then imprisonment in Guantanamo Bay Detention Camp is on the table.


I'm currently looking at getting 364 days (not 365) in jail and a $2,500 USD fine for driving with a revoked license. That's the max penalty, but I'm pretty sure I won't receive anywhere near that. Then again, I could be locked up with ALL those that copied movies from and to their VCRs.

~Bruno~
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July 28, 2012, 05:39:34 AM
 #35

I'm currently looking at getting 364 days (not 365) in jail and a $2,500 USD fine for driving with a revoked license. That's the max penalty, but I'm pretty sure I won't receive anywhere near that. Then again, I could be locked up with ALL those that copied movies from and to their VCRs.

~Bruno~


Don't drop the soap Bruno.

 Grin
repentance
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July 28, 2012, 06:01:39 AM
 #36

Funny, a few months ago everyone on this forum was sucking Zhoutong’s ass like it was made of ice cream and now he’s the Antichrist.

This happens with pretty much every new service.  It's hailed as the best thing since sliced bread and within months the discontent sets in and it's being labelled a scam.  Same thing happens with new payment methods.  This community has little capacity to learn from past experience, it seems.

Amen Brother! Sister!


 Grin

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
Herodes
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July 28, 2012, 05:57:15 PM
 #37

What would be interesting would be to gather all the participants involved in a room, call on Hercule Poirot, which immediately would enter the room, stroke his mustache, look around and say: "Noone dares leave this room until the guilty party has been found!"
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July 28, 2012, 07:23:20 PM
 #38

Quote
Rewrite Bitcoinica code slightly and repeat scam on future newbies
If anybody does this, I will become a black hat hacker, after watching some youtube vids on how to crack stuff with Backtrack, and pop that box.
You have been warned. Grin

I'm currently looking at getting 364 days (not 365) in jail and a $2,500 USD fine for driving with a revoked license. That's the max penalty, but I'm pretty sure I won't receive anywhere near that. Then again, I could be locked up with ALL those that copied movies from and to their VCRs.

~Bruno~
I hope you brushed up on your chess skillz, they'll come in handy while your inside and don't accept any favors. Grin

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.
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