Quote from: Gentso1 on January 28, 2015, 02:33:22 pm

Because you are now employed by the bitshares blockchain would you consider making the your check out code open source?

I am sure you will agree that doing this will only help to further adoption for bitshares as a whole, not to mention it keeps in line with bitshares open source nature.

Actually, anyone producing code *PAID FOR* by the blockchain needs to open source it or they don't get my vote.

The remaining balances have been removed from the site by users.

We have located the real identity of the user 'ambiorx' who made the fraudulant BTC, NBT and NSR withdrawals and we will be pursuing legal action. We are preparing to hand over our logs, database and other information to the authorities.

In the meantime, we will be doing an audit of our systems and investigating the possibility of rebuilding the trading engine.

Samantha Chen (YT)
Excoin Lead Developer

I can't believe a buyout bailout is even being discussed.  Bter has proven their incompetency twice now.  First with the stolen nxt and now with stolen btc.  Until proven otherwise, we shall assume that what they have done is criminal.  They were entrusted with other people's money and now it has disappeared.  For all we know, the owner of the exchange could have stolen the money.  If you want to socialize losses, use fiat. 

This entire crypto bear market has coincided with many exchange failures, which is a good thing.  Slowly but surely, all weak links in the system are being disposed of.  We have precedent for this.  During the great depression in the US, over 9000 banks failed and most markets crashed.  Bailouts and debasement of the USD did not occur on a large scale.  What resulted over the next several decades was one of the strongest economies the world had ever seen (1940-2000), and this was on the back of a government issued currency and centralized, government controlled points of exchange.  The key ingredient then was that weak links such as poorly run banks were allowed to fail, instead of bailed out.  Fast forward to today.  We have a legacy economy fraught with bailouts and currency debasement which has resulted in a an unstoppable cancer that has spread so far and wide that it cannot be cured.  At the same time, we have an emerging crypo economy in the depths of a crypto depression.  This depression is necessary to weed out all weak links, such as incompetent and criminal exchanges and ponzi schemes.  I believe once this process is finished, we will see the strongest economy the world has ever seen because for the first time in history, we have the tools to solve many problems that were previously unsolvable (decentralized money, decentralized exchange, ect, ect, ect).  The timing is impeccable.  As the fiat system is beginning to crumble (Greek and Eurozone crisis, fiat currency volatility picking up), the crypto economy is getting stronger and stronger by the day.  We may soon see an unprecedented shift in global wealth... and if you blink you may miss it.  The next decade should be very interesting and I believe we are on the right side of it. 

Let bter fail.  It would be counterproductive to even attempt to bail them out.  Trading needs to migrate to decentralized exchanges.  It may be painful now, but the crypto economy will emerge much more powerful because of it over the long term.

This is what we're going to do:

1. Raise BitUSD awareness on marketplace forums.
2. Create tutorials explaining in detail how to go from BTC --> BitUSD and back again.
3. Post articles on DarkNet blogs such as DeepDotWeb (I'll be a regular columnist from now on).
4. Advertise metaexchange.info once they have BitUSD liquidity.