Post
Topic
Board Service Announcements
Re: [Payout Updates] Bitcoinica site is taken offline for security investigation
by
genjix
on 07/06/2012, 13:07:55 UTC
It's pretty easy, Genjix, what are you working on today?  Right now.  What is Patrick working on?  What is Donald working on?  You are all hard working guys, and can't be just sitting around drinking coffee.  What exactly is it that you've spent the last four weeks doing?  Even if the answer isn't "writing cheques to repay you", just tell us.  It's not like you can be "incorrect" or "inaccurate" about what you're doing.

Until Saturday (or so), I was working on helping process the claims. Since then I've been working on libbitcoin and Electrum.

Now the thing is that for payments to be processed, we need legal authorisation from the person in charge. Tihan denies being in charge, which means his parent company (Core Credit) has to authorise the payments. However Tihan is saying we don't need that.

The problem is that Bitcoinica Consultancy only begun the process of being formed when the attack happened. The paper work was not completed and we weren't acting as GP. Tihan is asking us to finish completing the formation of Bitcoinica Consultancy first, while we are asking for legal authorisation to conduct payments on their behalf.

But I think the issue may be resolved now although I'm not sure of the specifics (I'm not a lawyer). Hopefully someone acting on proper legal representation can respond.

Anyway I'm going to avoid posting now, since the technical problems have been resolved, and the remaining things are legal. I've probably made a bunch of mistakes or inaccuracies above as I don't have a complete understanding of this and don't have a legal background.