Bitcoin Forum

Generally speaking, this is a private loan pass-through stock.

WIT will deploy the capital raised by the stock and use them for give payday loan to a group of special people. They have good income and good social networks, but in a certain very special situation, they will like to borrow money from us with a 2% daily interest. We have been in this business for a few months.

As I have sophisticatedly arranged and put my own money in, once the shares are bought, the capital can be deployed within 1-2 days. I will publish financial reports daily. As there could be some delays, so I’d rather say publish daily financial reports. The financial reports will be here:

https://docs.google.com/spreadsheet/pub?hl=zh&hl=zh&key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

The dividend will be paid out on every Monday or Tuesday.


Thanks for the support of the helping community members. They showed interested in my program in such an early stage of great uncertainty, and they helped me to redo the contracting. I listened to them:

• Be clear on “stock or bond”. This is a stock, which means that it is somehow risky more than a typical bond. Investing in it you’re at the risk of losing part or all the money you invested.
  Dividend will be paid weekly, but I will publish financial reports daily. Dividend rate is expected to be be 0.2% -1.2% daily, but not guaranteed.
  More detailed operation indicators, but not only capital account balance records. So I will publish financial reports.

Some of the forum members may have known that this high yield program had been in a pre-IPO discussion in the Long-term offer child board. The previous ID I use bring up dramas: Capital One Corporation. I picked up “Capital One Financial” in a novel, and I admire their ability to identify the right people to make them use credit card, high interest, low default rate, low uncollectable loss. I in no way tried to misleading anyone. In my home country, few people know about this name. Hence I just come with this new ID, starting my own brand, WIT, W Investment Technology Research Center.

Trust is something can only be built and broken. I’m now building it. I’m trying to carry out a long term operation in the Bitcoin economy. This high yield security is my first step to build a brand from scratch up. I bet that the hatred will help WIT to grow better in the long term. If WIT have survived and succeeded in waves of accuse, how bright should the credibility be?

-----------------------------
[Contract]

This is a pass-through. The stock will offer investors an opportunity to Share the profit from the financial business I'm running.
 
Estimated daily dividend rate is 0.2% to 1.2% but the dividend will be accumulated and distributed weekly. It is not guaranteed. This Share will be paying dividend after 7 days of the IPO. The dividend rate will be the product of the dividend rate and the capital account balance.  
Each Share will have its capital account. the balance of the capital account is the sum of
(1) The face value of the Share(0.1BTC)
(2) Dividend payable
(3) Retained dividend
(4) Minus BSDs(big special dividend).
 
The capital account balance will be 0.1BTC at the beginning. The balance of the capital account will be published in the bitcointalk.org forum. And the records of the capital account and the financial record is here:
 
https://docs.google.com/spreadsheet/pub?hl=zh&hl=zh&key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html
 
If the capital account balance is lower than the face value, the issuer has the rights to pay dividend as low as 1.5 weekly and retain rest of the dividend in the capital account until the capital account balance equals the face value.
 
The Shares can also be partially purchased back by paying BSD.
 
The issuer can buy back the Share at any time at a price of capital account balance plus 2 days' worth of dividend.
 
Some of the days we have to stop running the business temporarily, and we can make no profit out of the raised capital and I will pay the stock investor a 0.05% daily dividend. Usually this kind events last for 2 days and never exceed 4 days in the history. It will happen 1 or 2 time every month.
 
This investors of the stock is at the risk lose part and all their investment. Though I'm quite confident about the safety of the investment, there is still risk attached to the business itself. The profits are not guaranteed, the dividend rate may be adjusted with a 5 days’ notice.
 
There is no exchange rate risk involved.
 
The Share is a preferred equity tranche of the business. The issuer holds the common equity tranche of the business. The risk of the business will be distributed between the issuer and the Share investors in such sequence, which means that the event of failure of the business, the loss will be distributed in this way:
 
(1) The common equity tranche take the first 20% of the loss occurred in the business;
(2) The Share investor take the rest of the loss up to 80%
 
The issuer reserves the right to be a market maker.

-----------------------------

New fancy sounding name, same scam.

• Absurdly high rate of return
• Vague business model
• Anonymous operator with zero verification

SCAM

Medium risk? How do you get to medium, its a "sure thing", look at the numbers! You don't get that many decimals of surefire accuracy with "medium risk", the more times you throw the dice the surer you are to get closer to those figures, surely?

-MarkM-

An investor has already purchased 10 shares of WIT. Thanks for kicking this IPO a start.
Every morning, we will be able to know how much we have earned yesterday. I will start to put up daily report from tomorrow.
The first interest will be paid on next Monday.

Bought some shares to see how it goes. If/When I receive my first interest payment on Monday I'll post again in this thread.

Why wouldn't you get your interest payment?  With average of 0.7% daily interest even if nobody else bought a single share he could pay you for 142 days just using absolutely nothing but the "principal" you gave him.  It would be utterly shocking if you DIDN'T get the interest payment on time and in full.

This is more than likely a scam and I urge people to boycott it.

THANK YOU VERY MUCH, Tittiez!



Updates

The IPO goes much better than I expected. As of 10:00(GMT) today, the number of shares outstanding is 390 shares: https://cryptostocks.com/securities/17

I will publish a financial report later.

Thanks for all the investors giving me the opportunity.

Contract reads like it's written by a 12 year old :)
Verification: None

Can I send you 5000 coins? If yes, please send me 5 BTC to 1KLhpqL3QGi4a78scb4bonHybrm5iSsoTz to confirm you wish to be blessed.

 

Daily Summary

Capital account per share, BTC      0.101146
Dividend payable per share, BTC      0.001146
Face value per share, BTC      0.100000
Today's return on face value, %      1.15%
      
Dividend paid out today      0.0000
Accumulated dividend paid out including BSD       0.0000

Find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

It's the first day of the pass-through operation, and return seems good. But as there will dilutions, and we need time to deploy new capital, so the return rate quite likely to be fluctuated always.

I recorded 390 shares sold in the report, but there are 500 shares have been sold now:

https://cryptostocks.com/securities/17

Thanks for all the investors.

Alright, who gave this guy BTC50?

All of the normal signs of a ponzi scheme placed into one little package. How convenient.

The beauty of running a ponzi on a "stock market" is that you shouldnt face a bank run so you can pretty much control the exit time for yourself.

Why not tag this fucker right away and save lots of pain for all the idiots, who are sending him BTC.

We have to wait for him to cut and run  :P

Updates

There are 518 shares purchased. As there are dilutions today (390 shares leap to 518 shares and the capital deployed basically has not changed yesterday, so the return on face value will be a little bit low today. However, it is still highly yielding.

This share will not be a long term operation. After the common shares has generated enough profit we will close this program and give back the capital to our shareholders.

The good news is that after this program, Maybe I will start another program for the Bitcoin investors. The money will be put into a investment project my ex boss talking to me tonight. That program will be nominated in fiat currency and expected to cover the investment cost in about 1 - 1.5 years, and will generate 50% - 100% dividend every year. (There is risk and it will also be a stock, of course. I have asked lots of question tonight and I feel it is really a great opportunity. I will carry out more due diligence in the future month.)  My capacity for this fund will be 20 million USD if I decide it is really good.

Jeez...... more than the Pirate

Fuck off you twat!

You're a dickhead

Seriously, this has got to be a Poe.

http://en.wikipedia.org/wiki/Poe%27s_law (http://en.wikipedia.org/wiki/Poe%27s_law)

His pitch has got the same comical tone as a Nigerian 401 scam!

Quote from OP: "They have good income and good social networks, but in a certain very special situation, they will like to borrow money from us with a 2% daily interest"


I am still trying to get my head around this.   What sort of person meets the above description but need a daily loan at 2%?  If they had the income, they wouldn't need the loan at such a sharky rate?


With Bitcoin being a fixed asset (that is in the issuing phase still), I have trouble with these long-term interest lending and dividend paying operations?   Help us understand please.


Thanks,
D

it last only typically for 1 day. Maybe it more likely a fee but not a debt. It's very special, that's only I can tell the investors.
I don't get your 2nd question quite well. But I can have a try. The business are carrying out in fiat currency. Most of the bitcoin is to be restricted so that WIT will be able to borrow money in fiat. The bitcoin is restricted  as collateral. At the early stage, it is not need collateral at all as the personal credit of our own is enough.  But as I'm intended to expand the operation, a collateral is needed.

the 20m usd investment project is still under my due diligence. I have not decided to carry out. But there are lots of investment opportunities around me which I have few resources to catch all of them. Wish I will be better trusted in the community months later and I will be helping community member earning profit in sound investment. By return the dividend in bitcoin, I think Iwill also be helping stabilize the bitcoin exchange rate.

First off, thank you for posting a response.

If I use my imagination I can actually imagine a situation that is "could" work.  To be fair, lets assume you have this "special" clientele for the sake of evaluating this investment.  I might even swing you some BTC to see if this actually works.

Question:    Now I am being hung up on why you need Bitcoins?  If you are doing these short-term (1 day or two), how are you getting the fiat (cash) in your hand to carry out this operation in a timely manner to make it useful to your business and meet your obligations to your investors?

Going by what I've seen here, I have no doubt about that.

The site has some look and feel of GLBSE
I barely put my GLBSE login before i noticed that i had never seen a page like that there...
conclude what you want (I am barely idiot?)

Thats because he uses bootstrap for the design which a lot of sites do.

I can borrow fiat currency @ 0.1% per day. It need bitcoin as pawn. At the early stage, I have already put my own bitcoin and personal credit into this, so the collateral rate is more than 100% and don't need to exchange the money actually. So I just need to figure out the pass-throughed income statement and balance sheet to share profit and risk with investors. I cannot specify the risk clearly right now for the same reason I cannot disclose the business model.

I have given investor an expectations. even the 0.2% dividend rate is not guaranteed. According to the history, even in a very bad business day(if the business is open that day) we will make 20% of our money lend to clients. But it is not guaranteed.

Daily Summary 9/20/2012

Capital account per share, BTC   0.101939
Dividend payable per share, BTC   0.001939
Face value per share, BTC   0.1000
Today's return on face value, %   0.79%
Total return on face value since IPO, %   1.94%
   
Dividend paid out today per share, BTC   0.0000
Accumulated dividend paid out including BSD per share, BTC   0.0000


Find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

There are 518 of shares held publicly right now.

https://cryptostocks.com/securities/17

Thanks for all the investors.

If I understand you correctly, what you're saying is:

"Collateral pass-throughed need money. The it statement same fiat day early I the I actually, right so personal than now need sheet specify per balance. I need my income and disclose more the just reason currency 100% figure into already. Can and the out to the risk the I share is stage don't rate risk and business for put as model and borrow @0.1%. Exchange pawn cannot clearly cannot investors. Credit I profit have. So own to to at the bitcoin this bitcoin with."

Maybe you should verify yourself on cryptostocks? ::)

This is just awesome. Can I run a passthrough to your passthrough?

Are you Chinese or living in China?

Could you disclose your identity and business model to a trusted member of the community?

I made a joke few pages back abut 5 BTC to get my blessing.
Guess what, this joker sent me 0.0005 BTC and the account number for 5000 BTC transfer. :)
Those guys are either scammers or this is just another joke on BTC community greed and stupidity.

He's the Capital One guy under a new name. You know, that outfit that was so hilariously broken, that nefario established his new rules for being listed on GLBSE just so he wouldnt have to put this guy up.

EsikmoBob, since you have admitted that you indeed had checked the address, you're a fool who was fooled. The investors who dare to take a little bit on this venture is much much more smart than you.

Attached is the PM history between me and EskimoBob. Smart people won't waste their time to check the address as they can know it is only a parody joke. And after my replying that the 0.0005 BTC was generated by my "mind power", he still persisted publicly here that the coin is sent by me. So my investors, you can guess the EQ level of EsikmoBob. So he trolls me and you are buying my share, I think you are not necessarily wrong.

EsikmoBob, I don't know who sent you the 0.0005BTC. It's not me. (Actually, I am not even sure whether there is really a tip coins donated to you. I don't care.) I have reminded you to check the address first to prevent you from being fool enough to send the 5000 coins right away.

I'm just with a new name, but not under a new name. You're misleading here.

Firstly, I did not cover anything. I have stated the Capital One history in my OP very clearly. It is the exactly same business and nearly the same contract. I changed the name to avoid violating the trademark to bring the exchange legal trouble, while Nefario team aren't afraid of the SEC or British CSRC looking after them.

Secondly,  GLBSE is a private property of Nefario. He can refuse or stop any security to list on his exchange. There is no way that he "have to" put something up. Nefario has offered me to list my share under the condition of verification. I did not take the offer. As an exchange he should neutral to the fact. I don't think he has any rights to publicly accuse the applicant is a scam since I have not actually run away with people's money.  Other people who trolls me I may have the option to argue or ignore, when Nefario trolls me I of course will not list on his exchange.
 

I will do this when the timing and circumstance is right. If you and anyone else is really interested, why not talk to me on the skype. WITRcenter.

I guess I cannot succeed in raising 20m USD 3 or 6 months later if I persist that I will keep anonymous.

Another 20 shares were purchased in the past 12 hours. Thanks for the investors. I can understand the feelings of taking risks in this. You're all my first believers.

Nice one mate, did your mum buy them? are you Chinese?

Do the believers get free kool-aid?

I like kool-aid.

If after all that Pirate drama and recent series of defaults this fuckWIT runs off with more than 1k BTC (and he will run), I swear to Cthulhu, I will run my own ponzi becuase you people make it too damn easy. Blind Investments shall it be called to emphasize how dumb you ('investing') people are.

I have raised the asking price to 0.101 BTC to reduce the unfairness for the previous investors caused by dilution. But interested investors should keep in mind that 0.101 BTC is still less than the capital account balance, and if you invest now you will get the first dividend on Monday or Tuesday.

The price will be adjust according to the capital account balance from now on. After the first interest payment, the asking price will return to 0.1BTC then. I will try my best to keep investors entering into this program at different stage fairly traded.

W Investment Technology believes long-term greedy. I can earn 200k bitcoin by build a trustworthy brand. This asset will most likely to be a huge success. Wait and see, or just grab some shares right now.

If people have really invested in you as you claim I'm going to throw myself off my 15th story balcony as I don't want to be in the same world as you or them!

Sounds good. What returns do you promise? Please PM me with a deposit address. Can I compound my earnings?

We said the same thing about pirate and look what happened. Hell, there was an obvious joke investment opportunity where the guy offered like 12000 % APR and mentioned (bolded) that he was definitely going to run away with any investors coins. People still sent him coins. Greed trumps wisdom. Ain't no two ways about it.

Don't do that. I know that lots of people will think this is a ponzi, and I'm already prepared for every kind of trolls but not a man who want to kill himself. visit the website below and wish it will be helpful. I'm just trying to make this world a better place. Why you hate me so much that when you cannot attack me you attack yourself?

http://www.suicidepreventionlifeline.org/

A guess: you are abused when you're a child, aren't you?

greyhawk, your formular is not correct and I won't run. thanks. Wish that you will say something about this post when I return all the capital balance to the share holders. will you do say something good then or you will just claim that I'm going to start another bigger ponzi while next time I let my investor know who I am?

The latter. The government only pays me for hating on bitcoin, not for supporting it.

Yes. Agents like me will be collecting the bitcoin capital investing into the real economy and exchange all the profit to bitcoin. The fiat currency will be even weaker if most of us is wining good investment return. Then you'd better stop WIT when it's young. But you won't succeed. And your government will have a president whose wife, son, voters and campaign donors are bitcoiners.

Then, whether you will betray yourself or you just lose the job?

"Warning: Moderators do not remove likely scams" it says on top of this forum section. I can understand why, but I wonder if 100% certain scams like this shouldnt be removed.

Why not put up some bets for all of us. WIT is quite new in the community. I have the resources to make sound investment return and I want to build a brand sound and fast. Trolls and over confidence idiots like you are quite needed. Thanks.

Oh.. this could be good. Are you interested in doing an escrowed bet on your failure? Obviously the bet would have to be smaller than your ponzi, which isnt very big yet, but Im certainly game.

Interesting. Coins as in two coins or two thousand coins?

---

On related note, quote from MMM-2012 faq http://mmm2012.com/faq (http://mmm2012.com/faq), this is unreal:

Q: Where do the gains come from?

A: How can you ask where the profit comes from? It is obvious – the money from the most recent participants provides and pays the gaining for the previous users. In order for the System to work well, it is necessary to have a monthly growth of 20-30% minimum, although it depends a lot on the users’ behavior. Can we reach that amount? Easily! It is all about marketing and right strategy. Up to now we are doing great, so why wouldn’t we go ahead in the future? There will be more and more money in the System. So, we can do more and more advertising. And what will happen when the flow of new users comes to the end? But, why would it if all the payments are punctual? On the contrary, the flow of new users will grow and grow, as more people get to know of our marvelous System. So, just become a participant and don’t be scared. :-))

Don't believe everything you read, that goes for people on your thread more then you!! are you from China btw mate?

400 at least. https://bitcointalk.org/index.php?topic=104651.msg1148947#msg1148947

IT'S A REALLY FUCKING SIMPLE QUESTION OP AND I'VE ASKED YOU TEN TIMES NOW ARE YOU FROM CHINA? YES OR NO?

I updated my first post with a bigger warning, hopefully people see it.

Are you selling drugs with this money?   I can not think of many activity that would need coins to hawk in pawn for short periods of time and can pay this interest rate on a ongoing basis?  Also, if the collateral is 100%, what is the purpose either way?  Wouldn't the whole purpose of these pawn loans be to get some "leverage" so you could control more capital than you already have?   Now I am really curious on what is going on?

You are being sarcastic I hope?

I am just trying to understand this investment opportunity that is being presented.  We need to do our due diligence on these investments.

Is your last name Mavrodi ?

Daily Summary   9/21/2012
   
Today's return on face value, %   0.82%
Total return on face value since IPO, %   2.76%
   
Capital account per share, BTC   0.102762
Dividend payable per share, BTC   0.002762
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.0000
Accumulated dividend paid out including BSD per share, BTC   0.0000

Find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Yesterday is a Friday and most of our clients have not to work today, and the business is really good. Most of our capital has been lend to the customers. There is a time lag to reflect the interest income on the Income Statement, and please expect a high rate of return on next reporting day.

There are 538 of shares held publicly right now.

https://cryptostocks.com/securities/17

Thanks for all the investors.

Yes, that's what I'm trying to do through raising capital from WIT shares.


I cannot disclose it publicly.

Still not sure if serious. In case you are, google "ponzi".

Vague business model?!?! There's nothing vague about it. It's a pass thru. As in, pass it through to everybody else that buys in... It's a completely honest way of saying it's a ponzi without labeling it as such.

If your clients run to your little lending booth on first day when they're out of work to borrow at >1%/day, but nonetheless, quoting yourself, "they have good income but are in certain very special situation ", then it looks like they have drug or gambling problem, or suffer from nonexistence. But good work on your marketing copy, if I was in your target audience, probably I wouldn't be able to look away from "expect high rate of return".

Guys, I figured out "W Investment Technology Research Center"'s business!

"Generally speaking, this is a private loan pass-through stock."

TRANSLATION: 'We loan out your money.'

"WIT will deploy the capital raised by the stock"

TRANSLATION: 'We use your money ... '

"and use them for give payday loan to a group of special people. "

TRANSLATION: 'to lend out to teenagers who go 'Can I borrow $5? I'll pay you back $6 tommorow'

"They have good income and good social networks"

TRANSLATION: 'They get paid $10 a week from their parents, and I'm friends with them.'

"but in a certain very special situation"

TRANSLATION: 'but when they want money at school'

"they will like to borrow money from us with a 2% daily interest.'

TRANSLATION: 'they will borrow about five dollars a month with high daily interest'

"We have been in this business for a few months."

TRANSLATION: 'The first time I lent out money was a few months ago.'

"As I have sophisticatedly arranged and put my own money in"

TRANSLATION: 'My first loan was $2 and that came out of my wallet'

"once the shares are bought, the capital can be deployed within 1-2 days"

TRANSLATION: 'When you give me money, I'll be able to use it in World of Warcraft within 1-2 days'

"I will publish financial reports daily."

TRANSLATION: 'My friend is good at financial things he read from wikipedia and he will make things up daily.'

Daily Summary   9/22/2012
   
Today's return on face value, %   1.04%
Total return on face value since IPO, %   3.80%
   
Capital account per share, BTC   0.103803
Dividend payable per share, BTC   0.003803
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.0000
Accumulated dividend paid out including BSD per share, BTC   0.0000

Find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Yesterday is a Saturday,  and the business is even a little bit better than Friday.  I have deployed another 5k RMB into the business, this will boost our performance in the next few days.

The dividend will be paid on Monday.

It is difficult for both me and my investors nowadays. One investor talked to me on the Skype but he was reluctant to express publicly here that he has tried. The broke of the Pirate40 bubble makes every high yield program like a Ponzi and the investors who try it fools. However, all the successful investors in the world have made their fortune by making decision independently, especially in those difficult times. They refuse to follow other people' random talk or trolls.

Be a wise man, be a rich man. Thanks for all the investors.

https://cryptostocks.com/securities/17

Nice! are you Chinese then mate? sorry for trolling before I'd like to invest 120

If you're willing to make this a partnership you could attach your business to my hedged credit company (fiscal uncertainty credit kings), we could call our joint venture fuckwit which sums you up lol

After the creation of the WIT stock on CS exchange, I have bought another company's shares on GLBSE, and the morning of today I have sold half of them, and made a 13.25% profit in 5 days. This is irrelevant with the WIT stocks, but I would like to share this with the readers. The CS stock exchange is new, but it has fantastical potential:

• As there are not many investors, and it is easier to catch the opportunity to buy low and sell high.
• After every execution of order, CS would send you an email, this is really useful and convenient.
• Investors can trade both bitcoin and litecoin stocks there.  
• After the fee structure change, the CS is cheaper to list a stock.

http://www.cryptostocks.com

cryptostocks are for companies that are too scammy to get into glbse

So... it's now monday for you? I know China guy is now at 11:00 pm Sunday. Why did you pay early?

I have not take into consideration a dilution problem in the dividend payout process if the share is being sold out continuously, which make it unfair to the existing shareholders. An earlier payment will solve it.

Actually why dont you pay everyday like OBSI did (GLBSE - OBSI.HRPT), and you could gain more trust from users

I dont know if doing this action is free in cryptostocks, but GLBSE is free.

It's free.

Paying it weekly can reduce some managing pressure from me.

I dont think paying it daily will gain trust. The doubters are doubting this is a ponzi, paying it weekly or daily makes no differences. Can trust only be made until the BSD account balance reach 0.1, which means I have bought back my shares.

Daily Summary    9/23/2012
   
Today's return on face value, %    0.82%
Total return on face value since IPO, %    4.63%
   
Capital account per share, BTC    0.100009
Dividend payable per share, BTC    0.000009
Face value per share, BTC    0.100000
   
Dividend paid out today per share, BTC    0.00461735
Accumulated dividend paid out including BSD per share, BTC    0.00461735

Yesterday is a Sunday. As most of our clients have to work today, our business is good but not as good as two days ago. However, our fiat capital recently deployed will help our performance.

Dividend has been paid @ 4.61735% of face value, which is the result of 5 days' operation.

Find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Thanks for all my investors.

https://cryptostocks.com/securities/17

[CRYPTOSTOCLS] Ponzi, Dividend up to 1.2% daily

Why are you guys even talking about this scam? Report this fucker to scam section and tag him before it's too late.
It's obviously built to rip you off. If any of you think that you can get in and out before it collapses, you are delusional and should not be investing at all.
Let me use big and friendly letters to spell it out for ya'll:


 

Daily Summary   9/24/2012
   
Today's return on face value, %   1.12%
Total return on face value since IPO, %   5.74%
   
Capital account per share, BTC   0.101125
Dividend payable per share, BTC   0.001125
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.00461735

My shareholders should know that day D’s financial report will be published in day D+1’s morning, and the reported net income results are mostly influenced by how much money we can lend in day D-1.

Immediately after our first dividend paid out, I received automated alert email on my cellphone that shares sold out. It seems that the dividend help potential investors have faith in WIT. Thanks.

When pirate40 was popular, few refused to invest; When pirate40 gone, few tried my assets.
Lewis write in book The Big Short:


Eisman is a hero in The Big Short, who persist in holding a huge short position very lonely when everyone, including his life-long friends,  believed him was crazy or blind.  In the financial markets, the minority win and the majority lose. Some people are always the majority.

I assure you my investors here: this is a profitable business with a relatively small risk. It is not a Ponzi. I’m highly confident that one day the shares outstanding will be bought back at its face value.

Trust WIT, may you be rich.

https://cryptostocks.com/securities/17

At first, this thread was amusing.

Now, not so much.

*unwatches*

Daily Summary   9/25/2012
   
Today's return on face value, %   0.73%
Total return on face value since IPO, %   6.47%
   
Capital account per share, BTC   0.101851
Dividend payable per share, BTC   0.001851
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.00461735

Find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Thanks for all my investors.

https://cryptostocks.com/securities/17

Prick

Daily Summary   9/26/2012
   
Today's return on face value, %   0.39%
Total return on face value since IPO, %   6.86%
   
Capital account per share, BTC   0.102240
Dividend payable per share, BTC   0.002240
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.00461735

The loan which had not been paid back for 4 days was luckily collected back yesterday. In the next week, our business may have 3 days suspension and our team will go on a vacation. There will be a 0.05% daily dividend out of our pocket in the 3 days. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Thanks for all my investors.

https://cryptostocks.com/securities/17

Week 1 - Ponzi Analysis
Total dividend   Number of shares   Dividend per share
3.21367560      696                         0.00461735 BTC
Ponzi Profit:
696 * 0.1 - 3.2 = 66.4 BTC

Shares issued since last dividend: 393
Total Profit: 105.7 BTC

FTFY

Im amazed this has managed to make 100btc

It seems the easiest way to get bitcoins out of people is ru a ponzi scheme, and thats a sad realisation  >:(

Daily Summary   9/27/2012
   
Today's return on face value, %   0.19%
Total return on face value since IPO, %   7.05%
   
Capital account per share, BTC   0.102431
Dividend payable per share, BTC   0.002431
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.00461735

Yesterday WIT has earned 1.21 BTC which is the highest in the WIT history,  but as the number of shares increased 38% and our capital cannot deployed so fast, so the return on the face yesterday is low. But tomorrow we will be able to deploy another 5,000 RMB into our operation, which will be a driver making the return rate high again.

Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Thanks for all my investors. Though the trolls are flying (some of them have a history of being banned by the moderators before they came here), we have seen no shares been sold on the market after being bought by my investors. Thanks for your trust. I know that the success of WIT cannot be achieved without your support, and our team will try our best to make your this investment decision a proud.

https://cryptostocks.com/securities/17

Since when stating the truth is considered trolling? And who exactly has been banned over this? But I'm not calling you complete liar, no, amazingly you slipped a drop of truth there saying your success (full coffers) only depends on your outvestors, no shit sherlock, this is how ponzi works.

BTW ain't it double whammy ironic that your securities are insecure, and WIT investors are witless?

you have no truth, no evidence. you have speculation, or trolls, and over confident foolish.


learn some politeness, dude. That I did not disclose implies that it is their privacy, though I get the information from one of the moderators.

Daily Summary    9/28/2012
   
Today's return on face value, %    0.41%
Total return on face value since IPO, %    7.46%
   
Capital account per share, BTC    0.102844
Dividend payable per share, BTC    0.002844
Face value per share, BTC    0.100000
   
Dividend paid out today per share, BTC    0.00000000
Accumulated dividend paid out including BSD per share, BTC    0.00461735

Yesterday we have deployed another 5,000 RMB into the business. Yesterday is a Friday but the holiday has been adjusted and people will be off from work tomorrow. Tonight we will have very good business, I believe.

Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Thanks for all my investors.

https://cryptostocks.com/securities/17

ITT speculation is trolling.

Should we make a thread in scam accusations since you don't want people talking here? After the Usagi thread actually generated some useful discussion, it seems like making a speculative Scam Accusations is the new middle ground. I don't see a stickied thread or any rules so I presume "SA" is not only for confirmed scamming.

So, as the asset issuer, do you want forum readers to move discussion to Scam Accusations?

By the way, are you in China?  :P

You said the truth by telling a lie, silly. Nobody who posted in this thread has been banned, so story of you speaking to moderator is bullshit too. Besides moderators of this fine establishment don't cooperate with scummy fucks.

I might not have solid evidence, but I do have see-through-bullshit sunglasses and historical data along with our handy, fail-proof Ponzi Test, with proven 100% historical accuracy:

The Ponzi Test

+ high interest rate
+ anonymous operator
+ secret business model
+ bullshit responses
+ sophisticated operation title
- smoothtalking operator
++ (bonus) operator caught lying

Ponzi score: 124%

BTW I'm fairly sure you're buying own stock to increase trustworthiness and hoping for sheep to follow, but it doesn't work and it gets you annoyed. How long will you last?


Politeness implies respect, scummy fucks gets none.

You're discounting the very obvious facts of the matter: there never were 100 BTC invested on that platform in total since its beginning and Ponzi master can report any sales he wants, not like he's going to push a default on himself. In fact, most Ponzis work by having the initiator buy the first few rounds.

Daily Summary   9/29/2012
   
Today's return on face value, %   0.91%
Total return on face value since IPO, %   8.37%
   
Capital account per share, BTC   0.103751
Dividend payable per share, BTC   0.003751
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.00461735

It seems that our business is better than my English. Lots of customers came for us yesterday and most of the capital was borrowed from us. The 2nd dividend of the WIT will be paid before Monday end.

I am not intended to prove anything to the WIT investors. The condition does not allow me to have the evidence, information and transparency I need to gain trust actively from you.  WIT have to win trust passively. However,  I have to point out that every criticisms showed here has no evidence, too. They are just over-confident-ed speculations.

I believe the time is on my side. Some of you believed after talking with me on Skype and invested,  some of you don't believe but tried, and some of you watches. I assure you my investors here again, I will try my best to make your this investment decision a proud. You invested in WIT while so many trolls flying and you all win a huge investment return.

Thanks for all my investors.  Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Buy WIT at:

https://cryptostocks.com/securities/17

@Blind, as you're blind, you don't have to show politeness to me but you'd better show politeness towards Chang Hum's privacy. I don't think we need any inside information to know that Chang Hum has been banned before. Just look at his language style. So you are incapable of noticing that and guaranteed here that no one post in my thread has been banned. Shame on you.
 

I dont know if there is any indication that anyone is dumb enough to actually invest in this scam so theres probably no one thats been scammed by this operation....might need a victim to appear first.


Maybe a board for reporting "suspicious activity" would be enough where there are no victims but the community sees massive red flags.

That sounds like a good solution. Maybe it should be a Scam Accusations sub-forum. Threads could be elevated to SA if and when any evidence comes to light.

Of course, we members of the forum community can research and discuss all we want - the scammers can still claim victims too lazy or uninformed to read bitcointalk. But it would be a great start. As we've seen, keeping everyone's confidence up is important.

Someone who registered 2 weeks ago would know this
... from experience I guess?

Daily Summary   9/30/2012
   
Today's return on face value, %   0.65%
Total return on face value since IPO, %   9.02%
   
Capital account per share, BTC   0.100401
Dividend payable per share, BTC   0.000401
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00400000
Accumulated dividend paid out including BSD per share, BTC   0.00861735
Accumulated dividend return rate on Face value, 8.62%


The dividend for the last week has been paid @0.004 per share(4% on face value). We have deployed another 5,000 RMB into the business. The business will be temporarily closed for 3 days from after tomorrow, and  I will stop reporting for 3 days and pay 0.05% dividend on face value.

Thanks for all my investors. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Buy WIT shares at:

https://cryptostocks.com/securities/17

So perhaps you are going to enjoy your national holiday "week" （國慶黃金周），huh?

Got out of it just in time

That's one of the reasons.

Week 2 - Ponzi Analysis

Total dividend    Number of shares       Dividend per share    
8.12800000       2,032                      0.00400000 BTC

Ponzi Profit:
2032 * 0.1 - 11.3 = 191.9 BTC

Daily Summary   10/1/2012
   
Today's return on face value, %   1.19%
Total return on face value since IPO, %   10.21%
   
Capital account per share, BTC   0.101589
Dividend payable per share, BTC   0.001589
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.00861735

As mentioned yesterday, I will stop reporting for 3 days and pay 0.15% dividend after that, and our business will return back to normal then.

Thanks for all my investors. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Buy WIT shares at:

https://cryptostocks.com/securities/17

Cock!

I'm blinded by generous amount of bullshit you spew in this thread. Chang was not banned for calling you out on your ponzi, whatever reason it was is insignificant and he's already back calling you a cock.

Let me put it this way: every other anonymous, secret formula, high yield investment scheme operator ran with people's money, are you saying that you're indeed a special snowflake and near 100% similarity (hey, the name is different) to previous frauds are purely coincidental?

WITR is a special snowflake - in that unlike all the other ponzi/scams, this one started relatively recently. Which means it may not default until 2013! Pretty impressive around here these days.

Other than that it's looking like the standard fare. Boilerplate, one might even call it.

Wasn't banned just been on holiday for a few days!

0.15% dividend for the last 3 days has been paid.
Everything will be back to normal from tomorrow.

Good to see you again. Any comment on spreading lies about Chung Hum being banned?

Daily Summary    10/8/2012
  
Today's return on face value, %    0.04%
Total return on face value since IPO, %    11.06%
  
Capital account per share, BTC    0.100096
Dividend payable per share, BTC    0.000096
Face value per share, BTC    0.100000
  
Dividend paid out today per share, BTC    0.00220000
Accumulated dividend paid out including BSD per share, BTC    0.01096735


It is now after the end of the National Holiday, and our customers will likely be back in a few days. Dividend has been paid at 0.0022 BTC per share, that is 2.2% @ face value.  And we actually have a 4 days leave, that’s because something unexpected. However, we have paid the 0.05% special dividend to the WIT sharesholders. During those leaving day, your capital is at absolutely no risk.

Thanks for all my investors. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Buy WIT shares at:

https://cryptostocks.com/securities/17


P.S.

When I’m away, I have been following the Nefario and GLBSE issue on my cellphone. Someone has claimed my asset a scam while he just eat my 8 Bitcoin listing fee and refuse to respond to my requesting letter, and finally he get a scammer tag before I get. I agree with the tag, as I 100% sure that he scammed my 8 Bitcoin.

Nefario is such a person who are living without principle, for example, if you accuse something a scam you should hold some evidence. And I sadly find that Nefario is man who does not respect principles, so we should guess that he is very likely scam everyone in every way he could.

I recommend you to watch out the people who trolled frequently here. They are basically the same kind of people as Nefario. They don’t need any evidence to accuse other people scam, they respect no rules and live without principles, and they will a little bit likely scam your money if they could. What makes me regretful is that the condition does not allow me to provide evidence I need to prove myself. I can only pray for my investors trust and belief.



Someone of you may ask why this daily report is a little bit late than before, and I should say sorry to you first. However, I have to wait until I get this link from one of WIT investors. If you’re a donator or stuff, you can visit this link to see whether Chang Hum has once been banned or not. Those blind trollers can ask someone else do it for you. (Chang Hum is banned before he is trolling here, but not as a direct result of trolling WIT. )

https://bitcointalk.org/index.php?topic=5330.msg1177443#msg1177443

GLBSE is very unlikely threatened directly by SEC or FSA. Nefario is either scared or being scam us. We can only find out later. If Cryptostocks.com is shut down out of the similar legal reason, WIT will still hold up and keep the promise giving I know who the shareholders are.

Daily Summary   10/10/2012
   
Today's return on face value, %   0.61%
Total return on face value since IPO, %   11.68%
   
Capital account per share, BTC   0.100710
Dividend payable per share, BTC   0.000710
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.01096735

After the interruption of the long holiday, our business regains momentum.

Thanks for all my investors. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Buy WIT shares at:

https://cryptostocks.com/securities/17

What investors you nob? why do you keep doing these fake reports?

Daily Summary   10/11/2012
   
Today's return on face value, %   0.87%
Total return on face value since IPO, %   12.54%
   
Capital account per share, BTC   0.101577
Dividend payable per share, BTC   0.001577
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.01096735

Thanks for all my investors. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Buy WIT shares at:

https://cryptostocks.com/securities/17

I thought this was a "known" SCAM too

Shhh, you're destroying fuckWIT's business. Not that there is much to destroy, judging by volume on cryptostocks, he would be way better off producing and selling semen to nuns. But you need balls for that.

Lol I read his spreadsheet last night, he makes up he makes a whopping net income of 7pounds a day with a 20p per day management fee for international money lending business.... I'm starting to think maybe he is legit now!

Daily Summary   10/12/2012
   
Today's return on face value, %   0.95%
Total return on face value since IPO, %   13.50%
   
Capital account per share, BTC   0.102532
Dividend payable per share, BTC   0.002532
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.01096735

I would like to restate the nature of the WIT. It is a pass-through asset, it represents a percentage of a larger private loan business. I distribute the income, cost, profit and risk between the WIT and the other interest owner of the business.

Today some investor(s) sold WIT and I have bought it back at a discount of capital account balance. So the number of shares outstanding is shrinking. This passive buy-back has a positive effect on the return rate. And it is the start of the weekend, so the return rate is as high as 0.95%.

Thanks for all my investors. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Trade WIT shares at:

https://cryptostocks.com/securities/17

Daily Summary   10/14/2012
   
Today's return on face value, %   1.20%
Total return on face value since IPO, %   15.88%
   
Capital account per share, BTC   0.104908
Dividend payable per share, BTC   0.004908
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.01096735


Thanks for all my investors. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Trade WIT shares at:

https://cryptostocks.com/securities/17

"Damn, no suckers. Betta up my return rate."

Ironically if he put this much effort into something constructive he'd probably do OK!

Daily Summary   10/15/2012
   
Today's return on face value, %   0.59%
Total return on face value since IPO, %   16.47%
   
Capital account per share, BTC   0.100299
Dividend payable per share, BTC   0.000299
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00520000
Accumulated dividend paid out including BSD per share, BTC   0.01616735


Dividend for last week has been paid out. Thanks for all my investors. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Trade WIT shares at:

https://cryptostocks.com/securities/17

Total return on face value since IPO, %   19.52%
   
Capital account per share, BTC   0.103355
Dividend payable per share, BTC   0.003355
Face value per share, BTC   0.100000
   
Dividend paid out today per share, BTC   0.00000000
Accumulated dividend paid out including BSD per share, BTC   0.01616735


Dividend for last week has been paid out @ 3.5% of face value. The report will be published weekly on the forum, and the daily detailed report will be provided at the Google spreadsheet. Thanks for all my investors. Please find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

Trade WIT shares at:

https://cryptostocks.com/securities/17

Hey WIT, buddy! Where have you been? Brewing new scam?

Aaaaaand he is gone? Maybe the time has come.

Well I for one was quite impressed that someone as stupid as him was so good at doing spreadsheets. I wish you all the best Wittr and if you're ever interest in a real job PM me.

I see what you did there.

This.

Another ponzy clown down? Oh noooooo! LOL!

The dividend for last week has been paid. Thank you.

I planned to pay the dividend much earlier, but the bitcoin transaction takes much longer time to confirm than I had expected, so I had to left the PC and paid the dividend just minutes ago. I will pay another 1 Bitcoin to the WIT shares to deliver my apology.

Dividend for this week is to be paid. Not a very good business week as the snowing break the historical records at this time of year.  The dividend is @ 2.2% of the face value. Though the winter is harsh, but as there is no snowing and storm, our business will be good again.

Thanks for the support of my shareholders.

byebye ;)

The 18th CPC National Congress will change everything in China, but we had never thought it will affect our business. However, we have to accept the fact and stop our operation. I am just getting back to home. We have to suspend the WIT shares.

We have the money. And we will buy back the shares @ 0.105 BTC price soon.

Thanks for all the shareholders (I know it's not many) who supports our business.

I'm sure your investors are waiting with bated breath.

What are you on about mate, you do make me chuckle!!  ;D

If you are not them, how should you know that. If you are one of them, I bet you should feel relaxed as I am now. I even had to left Beijing to avoid something. However, my bitcoin is not been touched by anyone else.

I have just paid 0.05BTC/share special big dividend, which is a part of the buying back plan. I will pay the other 0.055BTC/share soon, after which the WIT will be fully bought back.

Thanks for updating.

http://en.wikipedia.org/wiki/Ponzi_scheme

at least he paid us bro!

https://cryptostocks.com/securities/17

You don't count your from china too lol

I have already bought the share back. The earliest investors of WIT earned a 31.20671% dividend of the face value.

Thanks for all my investors. Good luck!

Well, what do the haters have to say now? Chang Hum? Blind? EskimoBob?

You were all completely wrong. You wrote dozens of posts about how this was a scam and a Ponzi scheme, and you were completely and utterly wrong. This guy ran a legitimate business and when it came time to shut it down, he paid everyone what they were due, and more. If you don't feel like total idiots, you should.

I think an apology is in order, don't you?

That's a dangerous and naive perspective to take.

You may be right - but you could also be totally wrong (about it being a legitimate business etc).  Here's an alternative scenario - I'm NOT saying it's necessarily what happened - but it's equally consistent with what happened as your theory that it was a legitimate business not an intended ponzi.

Hypothetical scenario:

(To date :)

1.  He starts it as a Ponzi.
2.  It doesn't really take off - even though he buys a fair few shares himself (from himself) to make it look like it's growing.
3.  As it's a ponzi he can't PROVE it's real to get more customers so he decides instead to try to convince everyone he's totally trustowrthy - and turn it from a Ponzi into a long-con setup for a future ponzi.
4.  He announces it has to close for fairly vague reasons.
5.  All investments are repaid - but as he owns a load of shares himself and doesn't have enough cash to repay all at once he has to do the final payout in 2 parts (and transfer back from private account to issuer account in between).
6.  The cash repaid (and dividends paid) to actual investors is much smaller than it would appear from the records - as a lot of the shares were never actually sold to anyone other than himself.

(In future)

1.  He reappears saying he can now (for equally vague reasons) begin running the business again.
2.  He relists and this time bonds sell much faster - as he's proven (according to you) that the business is real and he's trustworthy.

IF that's the scenario then attitudes like yours are why it would be worth it (for him) taking the gamble of losing a bit now to potentially make lot more down the line.  It's exactly same principle as people who do conifdence loands that get bigger and bigger until they reach the size they aimed for and run with the cash.

Or, of course, it could all have been a legit business as you say - but assuming that to be the case isn't necessarily very smart.

You can invent an infinite number of scenarios, but there is no evidence to support any scenario other than the one in which this was a legitimate venture. I agree that evidence does not equal truth, but you have to go with the evidence.

It is difficult to accept anything as legitimate in the world of bitcoin. For example, there is no way for you to prove that your securities on LTC-GLOBAL are not Ponzi schemes. How beneficial would it be for these clowns to start posting in your threads, constantly accusing you of running a Ponzi scheme?

I agree that people need to be careful, but the actions of the haters in this thread were destructive and served no good purpose. They and everyone else need to understand this in order to make better decisions and use better judgment in the future. These people also need to be called out. It is important for them to lose credibility as a result of their poor judgment.

It's not true to say that there's NO evidence to support any other scenarios.

For one thing there's the FACT that the final payment was made in two chunks - which only makes sense if large chunk of shares were held by himself and he didn't have funds to pay it all out in one hit.  You can't check now (as it's been delisted) but they were made in pretty close proximity - not like he had half funds on online and paid them out then a day or two later paid out the rest when the remainder got online.  Investing in your own asset makes sense sometimes (I own a good chunk in mine) - but in this case it wouldn't make legitimate sense (unless you believe adding fake volume to your own asset's trading is legitimate).

You also pointed out that my assets could equally easy be scams.  Well, there's no way to prove that I don't intend to grow them to a certain size then run off with the funds.  But there IS an absolutely key difference - that in my case anyone can verify (not totally - but almost entirely) that I'm doing what I say I'm doing, making the profits I say I'm making from doing it, and have the assets I say I have as a result.  So even if noone can be absolutely 100% sure I'm not going to scam (and noone CAN be sure of that except me - same for any unsecured asset) they can at least know that I have a functioning, profitable business model and hence don't need to scam to make a profit running it.  That wasn't the case with the asset this thread was for - and we still have no way of knowing whether it was a legit profitable endeavour or a failed ponzi that's been turned into a loss-leader for a second try later.

Businesses with no proof they're actually conducting a profitable business haven't exactly got a great track record here - just look at Pirate, OBSI.HRPT and all the various "Loans/investment" opportunities that turned out to just be dumping their funds into pirate rather than doing what they claimed to be doing.  So personally I'm always going to be extremely sceptical of ANY asset which either doesn't disclose its business or doesn't/won't provide some evidence that it's actually doing what it claims.  And I'd be doubly suspicious if matey from this thread showed up in a few months trying to run the same thing again.

There is nothing, I repeat that, nothing anyone, I repeat that, anyone can do or say to make a "secret business" legitimate.

There is nothing anyone can do or say to make a secret business legitimate.

No business which is secret can be legitimate, under any circumstances, ever.

There is no such thing as a legitimate secret business.

A business being secret is sufficient proof that it is illegitimate.

I hope that clarifies most points, and I look forward in great joy at the particular rephrasing of this simple, banal, and universally fucking true point that'll need to be hammered in next.

Lol are you braindead mate? he's paid back all his investors (one other guy who's Chinese) read the OP before you post and if you think it's not a scam you deserve to lose your money!!

Wait. Which part of "he's paid back all his investors" is the scam?

Keeping my mouth shut unless he re-opens...

who? are you one?

EDIT: do you understand this is a failed scam?? because his op was ridiculous in the first place no ones done anything then take the piss out of him! the fact you have read it and don't see that is mind blowing, please have a look at some of his spreadsheets before you make another comment!

As requested by Cryptostocks, I claim here that the delisting of the WIT share from Cryptostocks.com was my own instruction.

Thanks for the great platform of Cryptostocks. It accepted WIT right after Nefario refused to list me on GLBSE after he had ate my 8 bitcoin listing fee. Cryptostocks had asked and questioned me in detail of my business after he promised to keep it confidential for several hours. I think he showed the diligence to protect his investors as well as the good faith in people, like me a random stranger in the bitcoin community.

If Nefario can read this post, he can confirm that how sincerely wrote him an email to clarify my willingness to contribute a successful asset to the bitcoin economy after he shout me a scam aloud. I feel so lucky that he refused.

You can see that Cryptostocks far more deserves the listing fee. (He had actually listed WIT and checked the legitimacy of my business as much as he could.)  When my shares essentially stopped trading and cannot generate new fees for his platform, I asked him to return the listing fee which he promised long time ago in a public announcement, and he asked me where to send the coin to me. He is a man of his word.

I will post a summarize about the WIT asset when I have enough time to write it.

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