Quote from: dooglus on March 23, 2012, 04:29:47 PM

Quote from: Andre Jensen (World Bitcoin Exchange) on March 23, 2012, 01:51:37 PM

For your information i did offer chris 5% and he accepted(i can back this up with IM conversation through gmail),

On 28th July 2011 I was offered 5% of incoming commission fees:

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(09:43:12 PM) andre jensen: hay when i start charging for the services would you be intersted in reciving 5% plus ill pay you for any fixes you do
(09:43:32 PM) Chris: sure

(09:43:51 PM) andre jensen: i need someone i can trust and you have shown that
(09:44:35 PM) andre jensen: good

Quote from: Andre Jensen (World Bitcoin Exchange) on March 23, 2012, 01:51:37 PM

https://www.worldbitcoinexchange.com/?page=help ABOUT US SECTION this statement has been untouched and is it original form from day one chris at no point has asked me to remove it and he also proof read it for me

I proof read for spelling, grammar, and punctuation, not content. After having read the help page I did question the "partnering" text. I think the following made it clear that I didn't want 5% of the business, although I didn't explicitly ask for the text to be removed from the help page. On 2nd August 2011:

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(05:12:21 PM) Chris: by the way
(05:12:30 PM) Chris: you mentioned giving me 5%...
(05:12:42 PM) Chris: does that include 5% of your losses when someone hacks in?
(05:13:00 PM) andre jensen: no
(05:13:13 PM) andre jensen: of course not ill send
(05:13:29 PM) andre jensen: you something to confim that
(05:13:33 PM) Chris: it's a concern
(05:13:40 PM) andre jensen: yes it is
(05:13:44 PM) Chris: you mentioned on the help page something about "partnering" with me
(05:13:55 PM) Chris: that could be read as I have a 5% interest in the business
(05:14:00 PM) Chris: and so am liable for 5% of any losses
(05:15:54 PM) andre jensen: no i will put in writing that you will not be liable for losses
(05:16:13 PM) andre jensen: my company has forcasted for this
(05:16:28 PM) andre jensen: in the event it dose happens

I never received the confirmation or any kind of a contract and never again heard anything about this "5%" until now.

Quote from: Andre Jensen (World Bitcoin Exchange) on March 23, 2012, 01:51:37 PM

this is why i trusted him to handle a major part of the BTC component of the exchange which didn't give the power of the exchange to one person, he can confirm this ask him.

I understood that holding the site BTC was a temporary measure until Andre set up a more permanent store since Andre's home computer at the time was running Windows. It was never brought to my attention that this was about sharing "the power of the exchange", but rather a temporary measure to prevent the bitcoins being stolen from the shared hosting.

On 15th August 2011 I brought up the subject of how it's not a good idea to leave bitcoins on a shared host:

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(02:46:57 PM) Chris: what do you think about keeping most of the bitcoins off-site?
(02:47:10 PM) Andre Jensen: yes great idea
(02:47:18 PM) Chris: there are 39 BTC on the site at the moment
(02:47:21 PM) Chris: that's like $400 worth
(02:47:27 PM) Chris: and that's only after the first day
(02:47:43 PM) Chris: it's already well worth stealing...
(02:47:58 PM) Chris: the support guy I spoke to said he was having his server guys look into the problem
(02:48:05 PM) Chris: any of them could see the bitcoin wallet and take it
(02:48:11 PM) Andre Jensen: sure
(02:48:27 PM) Chris: I just think it's best not to keep all your eggs in one wallet, as they say
(02:48:34 PM) Andre Jensen: yes
(02:48:39 PM) Chris: the question is where to keep them
(02:49:27 PM) Chris: the exchange software itself is fine with running out of bitcoins
(02:49:42 PM) Chris: if someone tries to withdraw, and there aren't enough in the wallet, it just waits until there are enough
(02:49:56 PM) Andre Jensen: ok
(02:50:36 PM) Andre Jensen: ill come up with a soulution
(02:50:50 PM) Andre Jensen: brb
(02:51:10 PM) Chris: did you hear about offline 'paper wallets'?
(02:51:28 PM) Chris: it's a way of storing bitcoins without a computer, or something
(02:51:52 PM) Chris: so they can't be hacked
(02:52:22 PM) Chris: http://casascius.com/ talks about it

On 22nd August 2011:

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(08:27:50 PM) Andre Jensen: ive got some key contacts looking
(08:28:04 PM) Andre Jensen: at puting large deposits in the exchange
(08:29:12 PM) Andre Jensen: the BTC is my concern at the moment
(08:31:10 PM) Andre Jensen: so finding a solution would be good
(08:31:18 PM) Chris: you mean getting people to deposit them?
(08:31:21 PM) Chris: or keeping them safe?
(08:31:31 PM) Andre Jensen: keeping them safe
(08:31:34 PM) Andre Jensen: sorry mate
(08:31:50 PM) Chris: I think the solution is to keep the majority of them somewhere you control
(08:32:01 PM) Chris: I don't know if you have a secure system
(08:32:06 PM) Chris: preferably not running Windows
(08:32:20 PM) Andre Jensen: ok

On 29th August 2011 I was asked to hold Bitcoins for the exchange temporarily:

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(05:11:01 AM) Andre Jensen: mate is your system secure
(05:11:14 AM) Chris: pretty much
(05:11:18 AM) Chris: I only run linux
(05:11:46 AM) Andre Jensen: good can you store half the bitcoin on the exchange
(05:11:52 AM) Chris: I spoke to [deleted] about linking to your exchange today
(05:11:57 AM) Chris: I can
(05:12:00 AM) Andre Jensen: great
(05:12:16 AM) Chris: he said he wanted to wait a few months before linking back to you
(05:12:24 AM) Andre Jensen: just untill i sort out the bitcoin storage problem

On 9th October 2011 I tried again to suggest using a paper wallet for cold storage, but it never happened:

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(09:58:21 PM) gorkalitus@gmail.com: mate anything you need
(09:59:52 PM) Chris: no, I don't think so
(10:00:03 PM) Chris: thought I do think it's a good idea to do the paper wallet asap
(10:00:16 PM) Chris: though*
(10:00:25 PM) gorkalitus@gmail.com: ok

Thanks for Clearing things up Chris.

Andre