Bitcoin Forum

It's all worthless now. If you were invested on pirate on the GLBSE, you are now at 0 in regards to those assets. Why?

He's going to prison, folks. Courtesy of the SEC. I would of preferred wage garnishment but that isn't happening.

It was supposed to be non-public.  And stop exaggerating.

I never got the memo. Anyways, 12 years in prison for securities fraud is typical.

It was in the email.  Which you obviously know about.  ;)

what? why it isnt public?

I am also confused.....is this e-mail different that the blanket e-mail floating around from the SEC? 

Did Pirate bid farewell to a select few?

Nefario, can you please provide an explanation?

Welp, too late now. I just heard this from a distant third-party on the forums so I am clean. Don't try to hold me in contempt of court.

/me holds Atlas in contempt of court

So, will anyone be getting their money back?  ???.

Pirate's lawyers?

Would you like your money back before or after he goes to jail? lol

So, he might end up in jail living off at the taxpayer's expense?  :-\.

Sane people announce some time before not some time afterwards.

That's the last fucking straw.

Why would I want to use this exchange for even one more day?

Answer: I don't. I will liquidate the rest of my portfolio there, and use a sane exchange. Like LitecoinGlobal, and MPEx. FFS.

GLBSE is fucked - a board including usagi, nothing but scam assets, and investor miliking assets, and now halting trading on assets, further screwing investors. Nice work Nefario...Thanks - I really appreciate more losses.

Bad enough the assets are global scams, but when you can't count on the fucking exchange not to screw your position, what is the point?

In the effort to keep investors from getting screwed GLBSE will screw investors.

Yes, try MPEX run by a romanian pornographer in which 90% of all trades are done on margin.

Good luck with that!

Hey, there's nothing wrong with being a pornographer.

There is something wrong with a 20BTC (?) registration fee. That can't be good for liquidity...

I thought it's been obvious for over a month that the answer is no  ::)

Would you rather Nefario allowed trading in what are almost certainly illegal assets whilst the SEC is already investigating those assets?

If you hold pirate debt your money has been gone since august.
Deal with it.

Do we actually know that the SEC is investigating? (Is this the letter from Philip Moustakis?)

Yes they are.

All the more reason to get your money the hell out of GLBSE.

Um. trading something likely illegal? As if most of the other (investor's money-losing) assets on GLBSE are likely "legal" according to the SEC.  OBSI.HRPT? CPA? C'mon - what's really "legal" on that market? - you've gotta be fucking kidding me with that argument to close trading down. (those defaulted assets should move, to where inexperienced investors can't see them).

Anyhow - the issue isn't about "getting money back from pirate" its about closing down a position that was being actively traded, with no notice.

The issue, is GLBSE doing whatever fucked thing they think of, with no notice. I'm sick of that, and really won't work with it. It's a HUGE red flag going forward. And, every time I see a flag that color red, the red ink is about to flow -- watch out people.

But meh. It's all about pirate anyhow.  idiots can't see past that "OOOH I'm right!!! It's a ponzi!!! to see what's the real issue - I guess bigass letters don't help for most of you. Let me restate it: it's about the exchange not giving notice of actions that are not carried out in an emergency.

Trading was closed with exactly zero communication or notice (which should have been provided on the GLBSE website, not this forum). That's fucked when it's something so many are interested in, and when there was no pressing reason for an emergency halt.

Saying "we'll be closing trading of PPT bonds in 1 week at this time" - this is fine

Waking up to "Asset Delisted - you're fucked" when the above should have been done has absolutely infuriated me. But, I figure most of you still can't fucking read, and will think I'm upset because "I lost all my money to pirate" wah wah. no. I'm irritated at the handful of btc I had tied up in trading a pile of bad debt. Any money I lost to pirate has been long since written off as a loss - but the few btc I put into increasing the size of my trading position could have been put to other use...especially if I'd had some notice that the exchange would be delisting the assets I was trading. (I'm well aware that trading had all but stopped since pirate's last announcement, but I also anticipated more action on those assets in the future) It's not about pirate, it's about delisting an asset without notice.

The risk trading on GLBSE has passed the threshold for me. The effort to legitimize GLBSE is, and will be, screwing current GLBSE investors for some time to come. Ah. Let's see how many more issues are closed without notice because of fear of the SEC.

Sorry if I seem a little irritated. I am. (Especially since I've now found that GLBSE has delisted 100% of Goat's assets - of which I only held a couple -P bonds that were part of my PBD holdings (pirate bad debt ;) )

We'd never have guessed.

GLBSE is doing what it needs to do to survive and become a more legitimate exchange. If you don't like it, you're welcome to spend $240 on joining Mircea's Porn Exchange (that is what MPEx stands for right?)

Pirate is doing what he needs to survive and become a more legitimate pirate too. Who's "we"?

So, if what "we" need to do to survive, is arbitrarily screw investors, then that's ok? Um. no. That makes GLBSE a totally unsafe place to list or trade, in my book.

And, well...I've ponied up some time ago to trade at MPEx. I use a command line client, so I really don't give a rats ass if he's selling porn. The interface assures me that if necessary, the web interface can be pulled. It's considerably more secure than anything else I've seen in bitcoin. And - look - the assets aren't garbage. And there's options trading. Yes, please do leave that to people who understand more about money than investing in ponzi schemes and house-of-cards insane insurance, and guaranteed money losing bonds, and fake stocks and oh yeah...the lulz.

Maybe titties on the screen make a guy think about money better. Anyhow, I'd rather trust my money to a horny financial type than a geek overseeing lots of scams any day.

In fact, I'll probably I withdrew my GLBSE funds straight to MPEx. (EDITED after withdrawal)

Sounds like now is a good time to pick up cheap shares of pretty much everything.

I sure hope all the fund managers are watching and scooping up deals for their clients!

Have you tried Open Transactions at all? Most people seem more interested in having a GUI, but folks who actually use command-line would be great to find out if the commands provided so far are sufficient or more are needed...

-MarkM-

The original version of GLBSE used a command line client and private key authentication. Nefario changed it to the web interface that exists now because having to mess around with the command line actually made it unusable to most people.

Theres not many good investments. Part of the reason glbse is changing is to bring in some real companies rather than ponzi schemes and ever reducing mining returns.

The mining company is profitable if you think in USD. not so many companies in the world can have a positive capital gain in the bitcoin unit.

Some recent posts though seem to indicate maybe a stock exchange should not be useable to "most people" but, rather, be used only by "brokers", so maybe requiring some small amount of expertise to use it was actually a good thing, helping to keep everyone and their dog from trying to act as a "broker"?

-MarkM-

Don't forget a fee. Some minimal competence + some minimal bankroll.

And some porn. Everything is better with porn!

Personally, I think that trading in defaulted assets should have been halted from the outset but sooner or later the Bitcoin world is going to need to come to grips with the concept of "sophisticated investors" and offer certain investments only to those who can meet certain income/asset benchmarks.  Of course this requires verifying people's real life financial information so it's likely to be unpopular with many.  And people are still going to create pass-throughs to high risk offerings, but it's a step towards making those who promote high risk investments more accountable.

So you are saying that rich people are somehow better than poor people? That having a certain amount of money should allow you more freedom than people with less money? And who is to say where the cutoff is?

He is just a romanian pedophile.

WTFBBQSAUCE.  Where did that come from?

See. Now you're getting into the swing of it.

Check this out: https://bitcointalk.org/index.php?topic=102333.0
Go to the boys side of his porn website to see guruvan in action :D.
http://polimedia.us/dtng/b/src/128216887595.jpg

People trade in defaulted assets all the time. Typically, they move off major exchanges and onto sketchier ones, or to OTC, but trade they do. (and make lots of money doing it, I might add...thus why I was a little miffed when these stopped trading....I made my rent trading ppt bonds back & forth this month. Would have been nice to not have that flow stopped - though pirate's message re: the 12th kinda killed the market)

I am not a fan of having to have accredited investors, in the typical legal sense. I like the MPEx way of weeding people out, though. Some technical skill/determination & a few coins. I'm also not a fan off verifying my financial information. It just irritates me every time. If I had to be an accredited investor to trade in what I do trade in now, I couldn't do it. That's a huge attraction for me for bitcoin. Most people shouldn't do such things, but I'm not a fan of having to have the government protect you from your own dumb ass.(maybe I'm a fan of it protecting you from some other dumbass...but not yourself - you do that, or you put the finger on the stove and get burned.)  

I'll make sure to repost in your threads so your investors can see what you do with your time. You seem to spend an inordinate about of time researching your favorite topic of pedophilia. I'm pretty sure someone should report your ass to the feds you perv. I think I might just do it today. CP freak.

It is Mircea's website, and he is paying you. Do not worry, I already reported him.
More of your stupid arguments?

Okay so how can one legally have a sketchy-assets market?

My thinking had been to go the way EVE Online did: have it all be clearly part of a game, set in a different world...

-MarkM-

No-one's suggesting that people shouldn't be able to trade defaulted assets, but that trading needs to happen in a high risk environment where the responsibility for due diligence rests entirely on the investor.

People seem to think glbse should list both pot farms and the same companies that list on a regulated stock exchange.

It obviously has to be behind tor like silk road is. I dont understand why no one has setup a tor stock exchange and people can list their damn pot farm or ponzi scheme if they want.

The question is why hasnt someone done this instead of whinging about glbse taking the ball and trying to run a "legitimate" site ?

There are various Open Transactions servers that are waiting for tor/socks proxy support in open transactions so they can use a .onion address in their server-contract without users having to hack their hosts file to make .onion addresses map to localhost and set up tor tunnel locally to make designated port go to their tor proxy port type of stuff.

In fact some folks run Truledger for now simply because it does have proxy support; but, it lacks markets (offer matching) so they are eager to migrate to Open Transactions just as soon as Tor support is in it...

-MarkM-

I got a tor headache just reading the first part of your post.

Yes, exactly, imagine the number of potheads who do all that just to buy shares of a grow op when they can so much easier just buy the end product on Silk Road. :)

-MarkM-

To be fair to pot grow ops, they are becoming an increasingly-legitimate type of business. Source: I have friends (and family) in "the business."

Obviously they are steeped in legal issues far and beyond those which concern most businesses. But since we're on the topic, you made me realize how they're actually lower-risk than a lot of these "schemes."