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Showing 20 of 56 results by tomywomy
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Topic
Board Development & Technical Discussion
Merits 27 from 5 users
Re: Flaws in LN (Lightning Network).
by
tomywomy
on 19/09/2018, 11:53:11 UTC
⭐ Merited by theymos (10) ,Welsh (10) ,suchmoon (4) ,DooMAD (2) ,gmaxwell (1)
There is actually no flaw in the scenario described and no weakness.

After the attacker sends 0.15 btc to his me2 channel through you and closes it, you still have 0.3 btc in channel 1.  What this scenario suggests is that the attacker then convinces someone else on the lightning network to set up a channel/channels with you and send him 0.3 btc through you.  That's fine and that will then deplete channel 1 to a balance of you having 0 in it, and him closing it out.  But two other things had to happen, and the most important of those is that you now have 0.3 btc in a channel or multiple channels with other participants of LN.  You are out nothing and have lost nothing.  The second thing of course is that the attacker had to get someone to send him 0.3 btc.

The accounting behind LN channels balance routing is very easy.  You only transfer some money to another person in a channel you are in if you receive the same amount in another channel (and you can even charge a fee for doing so). 
Post
Topic
Board Pools
Topic OP
Are any pools considering supporting the UASF on August 1st?
by
tomywomy
on 19/05/2017, 15:14:33 UTC
Lots of users talking about it, but without at least some hash power dedicated to the UASF it won't happen.

This is the first time in Bitcoin's history that miners, users and developers are not aligned on the way forward.  The developers wrote and tested SegWit, the users upgraded to it, but the miners have not signaled to active it.  So now there is a movement to get it activated without miner consensus.

However, some miner participation (the more the safer) is required.

So what say the pools here?  Are any in support or considering support?
Post
Topic
Board Trading Discussion
Re: when will chinese exchanges resume withdrawals?
by
tomywomy
on 18/05/2017, 15:23:08 UTC
Any idea just how many coins are tied up in these exchanges?
Post
Topic
Board Bitcoin Discussion
Re: The Blocksize Debate & Concerns
by
tomywomy
on 26/06/2016, 10:27:55 UTC

Already Ethereum users make the incorrect argument that bitcoin was hardforked in the past to fix the value overflow bug (it wasn't) and thus its okay for them to manually tamper with the ledger to claw the funds the DAO lost and hand them over to other users.  You're seeing a first hand demonstration for how quickly people cling to argument of convenience.


The fallacies used by Ethereum users to justify tampering with the ledger are extreme and are certainly a slippery slope to the end of reliability in the truth and security of the transactions on their chain.  They are all the fallacies that support socialism, big government, bailouts, wealth redistribution, etc... 

As and when bitcoin becomes more mainstream, it too will have taken on a majority of individuals who do not understand that the whole thing was created precisely to prevent majorities or powerful individuals from violating the property rights of other individuals.  This is why making such interventions as hard as possible, if not downright impossible, must remain the top priority of the system. 
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 01/04/2014, 20:01:26 UTC
Over at reddit, they are saying that BTCDanny, the CEO of Neo and Bee, who started this thread has vanished also and is not paying his employees. 

I think that may be the final chapter in this sad affair.

http://www.reddit.com/r/Bitcoin/comments/21xcde/neo_bee_employees_unpaid_and_unable_to_contact/
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 27/01/2014, 03:22:54 UTC
Yeah. Simple explanation. 16kKtG4v576JLkJ1awySuxeS1W5EEXFJ1w was not the only input into that 85.53 BTC transaction. See here: https://blockchain.info/tx/93db488fd8bcf51d26e5517b06205345f8b725ec178f76ee27a46c346942bfef

thank you.
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 27/01/2014, 01:43:07 UTC
Guys... there were a lot of people that wrote how many bitcoins they lost at weexchange. I once suggested posting the deposit addresses everyone had at weexchange. I wanted to see if the bitcoins are still in there or when they moved.

....

Lets see if we find something! Wink We should investigate this.

Well, you prompted me to investigate and I found something I don't understand just a few transactions away from my deposit to weexchange on June 7th.

Look at this:

https://blockchain.info/address/16kKtG4v576JLkJ1awySuxeS1W5EEXFJ1w

Here is a wallet that received 75.53 BTC on June 8th in one transaction and spent 85.53 BTC the next day. 

Can anyone explain this?
Post
Topic
Board Securities
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
by
tomywomy
on 25/01/2014, 02:24:50 UTC
How much hashing power would Asicminer have to have to justify this share price?  There are 400,000 shares, so at 0.5 BTC per share we are looking at a value of 200,000 BTC.  If Asicminer discovered 8 blocks a day they'd make 200 btc a day in revenue.  That's 3.3% of the network.  Even if 50% of that was profit for distribution, that would mean 100 btc a day.  It would still take 2,000 days, or 5.5 years at that rate to generate 200,000 BTC of profit and get the shareholders buying in at this price to break-even.  

With only 4 blocks a week being found at the current hashing power, we are talking about increasing hashing power by 14 times to go from 4 to 56 blocks a week, or 8 blocks a day.  Does Friedcat have access to 14 times the data space he is currently using, 14 times the electricity, 14 times the chips?

What would it genuinely cost to maintain 3.3% of the entire hashing power?  Right now the network hash rate is about 20 PetaHash. 1% is 200 TeraHash and 3.3% is 660 TeraHash.  

This isn't just about deploying some faster technology.  The network hash rate has grown 500 times (50,000%) since May, when Asicminer ruled the mining world.  Do you really believe Asicminer can produce 50 times the hardware they had been (to end up at 3.3%) and keep that growing at the network growth rate, which has been 100% per month for many months?

I'm wondering if someone who is a believer here can quantify what they think Asicminer will be producing that will justify the value currently being assigned to these share.
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 24/01/2014, 19:57:11 UTC
This wall of text from Ukyo is truly the height of absurdity.  After being silent and secretive about the millions of dollars that have vanished, he gets on a soapbox and lectures one of his victims on his, Ukyo's, rights.

Ukyo, until you tell us what the hell happened to our money, you can keep your mouth shut about how you feel you should be treated as a shareholder of another company.  We weren't even shareholders but depositors and all our money is mysteriously gone, without even the decency of an explanation. 

If you've got criticisms of Ken Slaughter, just understand, you are a thousand times worse than him. His actions are initiated by YOU HAVING STOLEN HIS MONEY AND NEVER ANSWERED WHAT HAPPENED TO IT FOR OVER THREE MONTHS!!!!

You are a real piece of work Ukyo.


Repeated cross-post from: https://bitcointalk.org/index.php?topic=297503.msg4699685#msg4699685

Ken Slaughter thinks his personal debt is more important than all other Weex users and is using his book education in Indian law to personally keep 100+ BTC worth of shares that I have been trying to sell to distribute to WeEx debtors.

He has gone as far as laugh it off with "good luck gong to belize to sue us"


I will explain it to you, a corporation has a lien on its shares for any sums owed by a shareholder, so we have a lien on your shares.  You are the owner of Bitfunder and the funds where on Bitfunder.  Because they where transferred to WeEx in a contract that you had with them does not relieve you of your obligation to pay us our funds.  Also, 38 BTC was left on Bitfunder and I have screenshots of it being there.  I did not authorize it to be transferred to WeEx.

Also from PM:
Just to give you a fair warning, there are a lot of laws in the us about disclosing customer information.

Good luck going to Belize to sue us.

I will explain it to you, a corporation has a lien on its shares for any sums owed by a shareholder, so we have a lien on your shares.  You are the owner of Bitfunder and the funds where on Bitfunder.  Because they where transferred to WeEx in a contract that you had with them does not relieve you of your obligation to pay us our funds.  Also, 38 BTC was left on Bitfunder and I have screenshots of it being there.  I did not authorize it to be transferred to WeEx.

The shares have a lien on them.  You are hereby notified that if the ~100 BTC is not paid in the next 10 days, we will sell your shares to the public to satisfy your debt to the company.  Should the shares not satisfy your debt to the company you will still be liable for the remaining debt.  Any amouts over the debt will be disperse to you less any cost of the sale.

I appreciate your 'good luck to sue us'. That's a real show of character.
I suggest all shareholders take heed of this warning.
What is wrong with posting your history? Are you afraid of something? You seem pretty concerned if your willing to make threats over it.

Notice was given 45 days before the transfer from BitFunder to WeExchange.
The site was shutting down and it was known to you that the only method of bitcoin transfer is via WeExchange which you accepted and used.

You should have no funds left on BitFunder. Any account that was properly linked (Which would be the ActM official account) had its full balance transferred. I think everyone is well aware that only a few people who had linking issues with weex have a small stuck balance.

How is it you have an account with 38btc that is not ActM that you are linking into this?
How many more accounts exactly did you create for trading on BitFunder than the handful I know of?
I suppose I will have to do a more in depth search on all of you ip addresses, linked accounts and addresses.
Why have you not claimed or reported this stuck 38btc prior?
You have not mentioned the 6% claimed from the portal yet either and subtracted that.

In the end, your argument is that I owe you XXX btc personally.
If your argument holds up then that means you are not the only debtor.
If this was the case, as someone mentioned prior, any funds of mine would need to be proportionally distributed.
This is not a mechanics lien.  You did not do work or provide services. You do not have first right to the funds.
Also I see you are not including "legal costs" of unspecified amounts into what you plan to take from any proceeds.
It sounds like no matter what, your intention it to keep 100% for your personal issues.

And just because you are CEO of a company does not mean you can abuse that authority on behalf of your own personal
problems and desires.

So to be clear, you are using your position as CEO of a company to force a sale of a shareholders shares to ensure your personal BTC losses are covered before other debtors can claim their portion when you have absolutely no evidence to show that the shareholder has directly owes you anything.

You do understand the difference between a corporation and an individual?
I hope you have this same understanding with accounting practices and funds.

WeExchange has a debt to many individuals and not just you.

Again, why the sudden rush and need to sell the shares? Why can't they just be locked worst case scenario?
You seem desperate. Why? I figure it will take you at least 2~3 more months to finish buying back ActM shares.
Why the need for threats? What is it you are so afraid of?

I bet people would love to see the complete shareholder listing as it stands. Would probably be more interesting
if ownership names could be included / proven.

Also, for a lien you must file something, somewhere with a valid reason and provide notification to the person you are filing against.
Normally, unless it is a mechanics lien, you file a lien against a person or entity.

I think you need to talk to your Belize lawyers and not whatever lawyer gave you a book quote rather than an official statutory listing.
(Personally, I would fire that lawyer and hire a new one.)

I found your link very interesting though. How about linking some documentation regarding Belize Corporate law instead?
Unless this is a confession that you are operating as a Indian entity and these are shares of an Indian entity?
You do realize that book is about Corporate laws in India... right? Your lawyer must be short on time and not taken notice.
Next time you are gasping at straws, you should check the first few chapters for relevance and stop trying to mislead people.

(For those of you who are curious, start with page 2. Definition of a company regarding the Companies Act of 1956. (India) and
the following line of "a company formed and registered under previous Company Laws in India."
I am going to go out of my way to say that you have had absolutely zero legal advice and are acting solely based on random google searches
and relying on "Well let him try something." rather than doing things properly.
I truly hope for those who have invested into ActM that you run your business better than this.

Please stop being inconsistent and show people if you actually have an understanding of the things you are talking about.
It's almost like you are purposefully misleading people.

(For anyone curious, feel free to call a US corporate lawyer for a free consultation and ask about shareholder rights and liens.)
Then again, that's US law, not Brazilian.

I response to your unofficial "notice of lien" hereby request that you post the contact information for your corporate Belize lawyers or PM it to me so I can contact them to make arrangements so this can be handled properly and officially. I will make sure that any documents are released to the public so they are fully aware of the situation.

Please keep in mind that your professional manner in handling this situation dictates how you will and ActM will be viewed going forward.
As a ActM shareholder and I am sure many others agree, if ActM is to succeed, it must act properly and not arbitrarily or expose the
company to unnecessary risks.

Stop acting so desperate and do things right.

Thank You,
Ukyo

Post
Topic
Board Auctions
Re: ask for 100 more Asicminer shares ,fixed price is 0.55 BTC.
by
tomywomy
on 21/01/2014, 15:44:36 UTC
I signed a PM to you and see you also had this post.  I will try to make the change today, but if we are on and you send me the BTC today, I promise to send you this week's dividend too, because even I PM FriedCat right away, he probably will not make the change in time for this week's dividend. In short, if you buy them from me now, you own them and any benefits accruing to them now.

I will sign again here:

address: 151WE9zaQqZ2bGobwFhQCpmN8AWqJJoMgi

Message: I control this address and will sell willBTC all 27 shares.

Signature: IKv2Ot3wJ8BxPAe+8EXpH3qbxcpawJgYB9kG2yE+BC+6kxNGYtX1GzTwwGvjROpcqSv1qGpyAPjwH00IRHTT4IU=
Post
Topic
Board Auctions
Re: ask for 100 more Asicminer shares ,fixed price is 0.55 BTC.
by
tomywomy
on 21/01/2014, 12:27:21 UTC
I will sell you up to 27 shares at 0.61.  That's roughly a 5% discount to the current price on Havelock.  Offer good for 24 hours from the timestamp of this post.
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 02/01/2014, 19:50:35 UTC
What a douchebag ukyo is, hiding behind his lawyer hired from our money.


Indeed. Claiming that if weExchange is sued then he will throw it in to bankruptcy and then nobody will get paid is true only if no crime was committed by him.  If he took the bitcoins out of bitcoin, HE committed a crime and he is liable both for returning the property and for having a criminal conviction along with whatever penalties that carries. 

There really isn't any reason to continue to trust him without bringing the police into the picture.
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 24/12/2013, 13:10:59 UTC
At this point I'd rather wait until the new year to get this cleared up.  A fuck-up over the holidays will really be a mess, and the we exchange claim site had numerous issues around its launch (and maybe continues to.) 

The shares and accumulated dividends will come to us soon enough.

If Ukyo is ready to comment on where the coins are that's something I'd welcome as soon as possible.
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 18/12/2013, 02:18:03 UTC
Hey Ukyo, I just want to echo the grateful people here and say thanks so much for being radio silent, evasive, ambiguous and unclear since October and I am wondering where we can go to kiss your feet for making available to us 6% of our own money.  You're truly a great man and I will be donating the 6% of my money that I got back to erecting a giant statue of you.  Please enjoy the remaining 94% of US$4.5 million that we are still owed for as long as you'd like and let us know if at any point you'd like to give some of it back according to whatever rules you decide to make up.

To be honest, my sarcasm is not at all targeted at Ukyo, but at the naive fools here who are actually sincerely saying thank you after getting back only a small fraction of what is theirs.  With such accommodating victims future scammers can only find encouragement in this sorry lot.  To not be demanding a full explanation under threat of legal action is R-E-T-A-R-D-E-D.  Since fools and their money are soon parted, it is safe to say that many of these "bitcoin millionaires" will soon be ex-millionaires.





Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 17/12/2013, 11:06:43 UTC
For anyone out there doing the math, everyone is getting about 6% of their money back, and there are 386 bitcoins that were available for distribution.  This means that in total, about BTC6433 are involved - with 6047 remaining involved after the payout of the 386.

That's US$4.5 million still outstanding.
Post
Topic
Board Scam Accusations
Re: The 2nd Stage Server Con ( Currently ~$2,000,000 ) 2 MILLION DOLLARS!!
by
tomywomy
on 17/12/2013, 10:46:51 UTC
Does anyone have the last "asset list" from Bitfunder?
Code:
G.ASICMINER-PT 83 ... 1N3L6n
G.ASICMINER-PT 1 1EJext
Retrieved from btct.co.
This was the list at 2013-12-03 05:30.

I confirm that my shares and my wallet are in the list posted by thirdlight.
Post
Topic
Board Scam Accusations
Re: The 2nd Stage Server Con ( Currently ~$2,000,000 ) 2 MILLION DOLLARS!!
by
tomywomy
on 17/12/2013, 01:51:47 UTC

Has there been news as to when the shares on bitfunder will be converted to direct shares?

Which shares are you talking about? The issuers have the full list of shareholders. AM100 for example has moved on already. Ukyo is in charge of G.AM.PT. So we're waiting on him to send the shares to friedcat. My guess is, his priority (?) is winding up wexchange first.

I think it's safe to say at this point that Ukyo stole our bitcoins and if he can will steal our shares too.  The belief that he intends to deliver coins, dividends or shares at this point is extremely naive to the point if being stupid.  He hash't provided any communication in a long time and the whole Neo thing is another pile of lies, evasions and delay tactics.  Expecting anything from Ukyo is just plain foolish. 

If anyone has a list of the G.AM.PT wallets that was publicly available on the site most recently, we should get a group of us who hold those shares to see to it that Friedcat transfers that as the ownership table for dividends and share sales in the future. 

There is no point in waiting for Ukyo as he will not show up to help us out.
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 15/12/2013, 12:53:32 UTC
What I want to know that any identity documents I sent to bitfunder and weexchange will be destroyed?

Another question I've been waiting to see answered. Seems to be continually danced around or ignored.

I feel really bad for you guys who have uploaded identity documents to bitfunder or weExchange and urge you take the necessary steps in your country to prevent such documents being used to issue credit or additional forms of identity.  First things you should do are : 1) check with your post offices to see if anyone has filed a "change of address" or mail forwarding form for your mailing address; 2) check with credit rating agency in your country which credit checks have been performed on you since you uploaded the file.  You may need to say that you are suspicious of identity theft because copies of your identification documents came into the possession of someone who is no longer in communication with you and who you have reason to believe is not honest.  You should lastly also check with your governments to see if any change of addresses have been filed with them.

You should do the above immediately.  If identity theft is going on you might not find out for a long time - you'd only find out when you are denied all credit. 

I am not in US or Europe, so I advise you find out what the best way is to deal with this threat in your jurisdiction immediately and take appropriate action. 

Even if Ukyo suddenly shows up and makes a promise not to seek credit using your identity, why should you believe him given what has gone on here.

And before his apologists show up to chime in and say he would't be involved in this - why on earth should anyone accept your advice here - you're at best naive and at worst somehow in cahoots with this long-standing, unresolved and unacceptably disclosed situation where millions of dollars have disappeared and securities are tied up with their dividends withheld.
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 14/12/2013, 12:57:37 UTC
Please do send lawyers after me, I have no liability to missing coins and my time is expensive, I am the one trying to get people their coins back. ng funds don't go missing too!

Danny,
You voluntarily got yourself involved in this situation, for reasons that you have not revealed.  You have met with Ukyo, in person, for a while now, and played a part in his leaving his country while millions of dollars are missing.  You have committed to sharing information and then after a long wait you have shared practically no information.  

I will likely not involve a lawyer because the amount I have at risk is negligible and not worth a lawyer's time, but you are absolutely involved in this and if there is criminal activity then you would have been conspiring with the criminal, concealing criminal information, aiding and abetting.  These involve not just civil, but criminal acts.  

At the very least you need to get legal counsel about what you've gotten yourself into here.  

I can't begin to guess the problems you're going to have as a result of stepping in to this mess and I won't bother to guess as to your motives, how much you know and don't know and what kind of person you are.  But you've gotten yourself involved in secretive acts with the person responsible for $2 million at least that has gone missing and it's pretty clear people aren't getting the missing money back.  How can that have been a wise thing for you, your company or its shareholders?
Post
Topic
Board Securities
Re: [BitFunder] Moving Forward/Resolution Process
by
tomywomy
on 13/12/2013, 15:43:09 UTC
Well, it's almost 6:00pm in Cyprus and we've had no update and no coins paid.  So I guess the obvious conclusion is that we should be patient for another week and assume that Danny and Ukyo continue to do their best and we should be thanking them for their efforts.