Quote from: keatonatron on April 12, 2013, 05:04:48 PM

The site has been down for less than a day and you are already considering police action against the owner?

That's really really scary. If this type of thing starts to come up a lot, you can say goodbye to anyone personally trying to provide a service to the bitcoin community ever again.

Yes i'm certainly considering action against him, due to the lack of information at all! Sometimes you need to announce drastic steps to get a reaction. Even ShitGox gave a statement what went wrong. And get the facts together:

- Running a Ltd. when there is a similar form of business in germany, too. Its called "Unternehmergesellschaft, haftungsbeschränkt" you can start with 100 for example.
- Lot of people pissed and spamming the chat 'cause they are waiting for few weeks to get their money out of BTC24 or account funded with sent money.
- According to few pics i found, looked like he runs several (at least 5 or 6, maybe more) 5GH/s Bitforce miners. All of you are able to calculate...
- Huge crash that has happened, panic everywhere
- Never seen him in chat or must have missed him. Normally i'd show up and answer questions, talk to my clients few times a day for 10 minutes or so. Let them feel you are there even if not visible!
- People waiting one or two weeks to get their mails answered. If i can't cope with that workload, i have to hire people for that!
- Phone number i've found isn't active
- Lots of moniez that could be sent to the caymans on a keystroke and spent for coke and whores Tongue

- A lot more reasons i'm too lazy to tell..

And now ask yourself, how would you pull a really profitable scam?

1 - Build up trust, process all orders correct
2 - Grow, receive more trust (and more money/BTC) to work with, still process all correct
3 - Repeat step 2
4 - See the price rise, sell your mined BTC on other xchanges, make profit
5 - Make profit from the spread when ppl trade on your platform like every FOREX dealer does
6 - Upgrade and improve your service with the profit you made so clients think you're caring and resposible, think before you act!
7 - If you're a good guy, go back to step 2 Wink

now we have 2 ways:
- Decide to work with coins you got from your clients. Buy cheap and sell high or sell BTC when high and buy cheap back. If you have losses, cover them with the miners you're running
- As reaction to the crash, sell BTC(regardless of whether your customers or your own) on various xchanges, making a million or two...and run

I think most of you never ran their own business, dealing with all sorts of idiots out there, ppl not willing to pay their invoices and so on. Sometimes you have to draw a line!

And according to the "greed&fear - fear&greed" comment, i'm mining for about 2yrs on BTCguild and i really love how its run! And at some point, i want some of my investment back even if i don't need to pay for power!

As there is a statement now, nothing will follow at this point. I hope i won't be disappointed in th near future!