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Let_her_Ripple

Gatehub receiving 'strike-off' notice

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6 hours ago, kanaas said:


Not reading xrpchat on an hourly basis perhaps?

Not surprised mate. Infact looking at their history of getting back to people. If they get back to u at all before a week (even in doomsday scenario) thats an improvement. Lol

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11 hours ago, gatehub said:

For that purpose, we have taken extra time to prepare our business accounts for fiscal year 2016 to ensure maximum precision and data accuracy.

Well, you had almost one year to do this. Almost all companies are capable of preparing maximally precise in accurate business accounts in such period (even if they're audited externally). Does this mean that until now you didn't know accurately and with maximum precision how your business accounts for fiscal year 2016 look like?

 

 

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My Humble Opinion - Gatehub. No Thanks.
Deserted them when after 2 weeks of waiting to be verified as a customer.
Meantime registrered on Bitstamp. Got help as a newbie. Sorted everything out in a week.
So I am on Bitstamp.

BTW, finally after more than a month, Gatehub rejected my Verification.
 - Thank God for that!
Even if I followed every little step according to rules in their KYC.

Edited by zenkert

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2 hours ago, T8493 said:

Well, you had almost one year to do this. Almost all companies are capable of preparing maximally precise in accurate business accounts in such period (even if they're audited externally). Does this mean that until now you didn't know accurately and with maximum precision how your business accounts for fiscal year 2016 look like?

 

 

Lack of legislation about cryptocurrencies, dubious exchange rates between crypto and fiat, ... Accounting it's hard in crypto gateways business! I think i understand Gatehub!

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5 hours ago, FMGC said:

Lack of legislation about cryptocurrencies, dubious exchange rates between crypto and fiat, ... Accounting it's hard in crypto gateways business! I think i understand Gatehub!

But they had the same issue one year before and they had to resolve main questions back then. 

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21 hours ago, gatehub said:

We are in a process of obtaining a payment licence.

The team has always been honest and hard working. Expanding business may not be as easy as it sounds. They seem to be focused on obtaining the payment license and together with an ever increasing number of accounts it's very easy to get slightly behind on annual reports. Let's give them some credit.

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9 hours ago, amulecregg said:

Kraken support is really fast and accurate, man.

This is true. Too bad their exchange is a nightmare.

I've always been a supporter of GateHub. Disclosing a hack months after the fact and pathetically low quality and inconsistent communication, coupled with a fleeing technical team, gives me zero confidence in GateHub. I'll keep an eye on them as they rebuild, and wish them all the best, but I won't be using their product for now.

 

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Interested to know if XRP held on the Ripple Wallet and not the Hosted Wallet on GateHub could still be recovered in the event that GateHub went out of business or were forcibly dissolved by the UK government as per the notification.

Companies House - 'The Registrar of Companies gives notice that, unless cause is shown to the contrary, at the expiration of 2 months from the above date the name of GATEHUB LIMITED will be struck off the register and the company will be dissolved.

'Upon dissolution all property and rights vested in, or held in trust for, the company are deemed to be bona vacantia, and accordingly will belong to the crown.'

Any UK legal experts here to give their opinion if 'the crown' would have any right to make claim to XRP held in any GateHub wallets, Ripple or Hosted, or have the jurisdiction to prevent holders accessing, moving or converting their XRP?

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10 minutes ago, cuber said:

.....wallets, Ripple or Hosted, or have the jurisdiction to prevent holders accessing, moving or converting their XRP?

I dont know about the legal end but it would seem unlikely to me.  But practically....  if possession is nine tenths of the law, as is often said, then Ripple wallet owners can do as they please.

If that situation arose they could move their funds elsewhere.  Even if for some reason ( like say a vanity wallet name ) they wanted to keep the address and funds as is,  they could create a regular key and invalidate the secret key.  A bit drastic but it kills Gatehubs' access.

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I would like to know further information regarding the wallets on GateHub. Am i correct in stating that XRP held in a Ripple Wallet on GateHub will always be accessible even though GateHub were to disappear and that XRP held on the Hosted Wallet would be lost if GateHub went under?

I've also read that even if XRP is stored in a GateHub Ripple Wallet there isstill a counterparty risk however i'm unsure what this means.

Maybe @kanaas can provide some further information as i see that you have been discussing this in a previous thread from a couple of years ago.

Advice much appreciated.

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On 11/7/2017 at 7:40 PM, gatehub said:

To our valued customers,

We feel it is appropriate that we address the issue with an explanation of the situation to clear up uncertainties and speculation on the matter.

We are in a process of obtaining a payment licence. For that purpose, we have taken extra time to prepare our business accounts for fiscal year 2016 to ensure maximum precision and data accuracy.

On the separate matter, we are on-boarding thousands new user accounts each day. This could in some instances result in high response time. We are still going strong and are scaling our team on best effort basis to assure faster and better user experience.

 

UPDATE: Strike-off has been discontinued. More information is available here: https://beta.companieshouse.gov.uk/company/09311138/filing-history 

Thanks for the action!

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