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Started up a "guaranteed" bond back in July, then, of course, GLBSE imploded.

The difference is many GLBSE issuers are trying to make good on their assets by moving to another exchange after going through a claims process.  Namworld is a good example of this.  ciuciu is providing near-zero communication to his shareholders & looks to be simply disappearing.

This is the last notice we got from him - over a month ago:

"To all shareholders,

I have received a list from Nefario. However, I did not receive all the assets of the bond from Nefario.
At the moment of closing, CIUCIU.BOND had over 500 GIPPT and 37 BTC in the GLBSE acount.
This will be paid to the shareholders, when I receive them from GLBSE and the GIPPT issuers. The difference will be supported from my pocket.
As mentioned earlier, I will not be able to pay any divident from the moment GLBSE closed.
Regarding the payments I have to make, I'm sorry to tell you that they will be at a slow pace and it may take more than a year.

I understand this will not make all of you happy, but this is all I can do in the given situation.
I will go over the list and inform you if any verification steps will be needed.

Thank you."

https://bitcointalk.org/index.php?topic=95826.0

Bottom line - he's either a scammer or doesn't know what the definition of "guarantee" is.

Just to share my toughts with you. I will start repaying only when I recover my assets from GLBSE.

The main assets where GIPPT bonds which where sold by respected members of the community DeadTerra and INAU. As you can see GIPPT were guaranteeed and they did not return the shares yet. I haven't seen anyone complaining and DeadTerra and INAU are not marked as scammers yet.
https://bitcointalk.org/index.php?topic=96793.0

Again, you are asking me to repay something it was stolen from me by GLBSE, folowing a list given to me by the thief, which is GLBSE. I never guaranteed that GLBSE will not implode or steal the assets and I believe you shared the risk with me when you agreed to use GLBSE.

In conclusion, after I get the assets back I will start making payments as I recover the BTC from the issuers.

Good to hear - but you can understand our frustration when we haven't really heard from you in 5 weeks.

I have nothing new to say. You can follow GIPPT thread yourself. My last answer was 10 days ago not 5 weeks as you insist.

I don't care about GIPPT.  You offered a guaranteed investment.  If you get zero from GIPPT it doesn't negate your commitment to your shareholders.

It is true. If GIPPT receives a scammer tag because it doesn't return the BTC, I agree to receive one myself, because at that moment I will be bankrupt (edited:in default).

if you guaranteed it, but haven't paid up, you're already in default.  end of story.

Here's how you described what your investments were before GLBSE died:


Then GLBSE dies and all of a sudden there's no sign of the mining farm or mining bonds - and private investment funds appears to have become singular.

How much do you owe - and how much are the GIPPT worth?  Why do you need to wait for GLBSE to repay the GIPPT before you repay the guaranteed difference between the two?

The possible difference between yourself and DeadTerra is that DeadTerra had disclosed where the funds were - and the funds are there but inaccessible.  You claimed where your funds were - but now it turns out they aren't there at all and, other than some GIPPT, there's no indication whatsoever of where the money has vanished to.

Yes, I think we can say I'm in default right now and if GIPPT doesn't pay I'm broke.

Deprived do you ever read the threads? Check the top post for where the BTC are, and how I plan to repay. The private investments were mainly with Hashking, so the value of them is 0 right now.
Deprived this is the last question I will answer to you, as you are just a troll deprived of attention and not a shareholder.

Rather than accusing others, it might be better if you make a statement of what you owe and have paid.  What needs to happen for investors to receive some compensation, what do you plan to do?

According to the topic you link to, Terra, with the guarantors, have paid out as dividends %54 of the principle for GIPPT.  This includes the %5 Terra was individually liable for.  I guess you didn't get any coins, because of GLBSE?  I have also received %5 of my principle in Gamma Fund, which had no guarantee.  It's not much, but it's more than some issuers have paid out.

I think nef had paid out some coins.  Did you receive any?

Well, that would depend on what he did with all the money, and when. Now wouldn't it. We're talking what, 400 BTC here? What was the outstanding amount, does anyone know?

It doesn't really matter what he did with the money.  In his own words he said it was a guaranteed investment.  It's not like there was some fine print that said "guaranteed as long as everything works out perfectly for me."

Oh yes I assure you it does matter what he did with the money. If he blew it on drugs (for example) it would imply he was intending it to be a fraud from the start. OTOH if his mother died (for example) and he needed to sell mining equipment to pay for her funeral that would be understandable.

What I am saying is, I believe I have information one way or the other, but I want to see an outstanding amount before I post it, because the outstanding amount will inform my reasoning. Thank you.

publio raises a good point.  Why aren't you passing along any BTC/assets you've received from GIPPT?

Both scenarios would be considered fraud.

The last payment from GIPPT were paid before GLBSE closed and I no longer have them. I'm sorry I did not foresee that GLBSE will close.
I just ask you to wait until GIPPT confirm our holdings, then I will present you with a plan.

It appears that GIPPT has been paid 100%. Any updates?

Yes, we don't know what he did with the money. This is extremely important. Did ciuciu claim he was running a mining farm, or not? What did he say he was doing with the money?

When asked what the funds were being used for he said:

"I invest in my mining farm, mining bonds and some private investment funds."

There's no sign of the mining frm/mining bonds and seems he spent what was repaid from GIPPT (before GLBSE closed down) leaving basically zero assets backing the bonds.  We don't know WHY he stole the money - just that he did.

Would expect there to be a distribution from him soon - but of excuses not BTC.

Well at least he got to warn everyone against me & MPEx before disappearing.

Yet another scammer shows their true colors.

Scammer time.

Not too much he CAN say.  He blamed nefario for the delay - then nefario announced sending lists so that excuse was gone.  Then he blamed GIPPT not paying out - but now they have and he's run out of other people to blame pretty much.

Think he has at least one more asset as well as this one.  The signs were actually there that he was short on funds WELL before GLBSE disappeared (I didn't notice them at the time - as had no interest in his 'bond' - but spotted something interesting earlier which explains a bit about where rest of the assets vanished).

I wouldn't recommend investors to be too optimistic about getting funds back - this particular scammer is a skint one.

Perhaps a good time to observe a moment of silence in memory of the actual reason this guy spent thousands of words attempting to cast aspersions on MPEx, MP, me &c. This 8 August article on Trilema (http://polimedia.us/trilema/2012/ciuciu-bond/) which points out among other things that the very name idiomatically suggests investors are getting gypped.

Call out a scammer today, be cursed to Hell and back for six weeks to six months, write on their tombstone, move on. New ones constantly sprout, fully ignorant of the history of the place, cycle it all again. And again. Possibly the worst job in the world I got.

Back in the month before Pirate collapsed, right after ciuciu launched ciuciu bond and was borrowing stocks to short, he approached me to insure 2,000 worth of Pirate exposure. It was clear to me he was just putting everything he had into pirate so I did not follow CIUCIU.BOND nor any of his other escapades because I didn't want any more pirate exposure. As a result of not paying attention to CIUCIU, I did not know he was scamming. I also didn't have any proof of anything, and I am not the sort of person to shoot first (post in scam accusations) without evidence like many people here are wont to do.

But now that I have asked and it has been made clear CIUCIU stated he was running a mining farm, it's obvious to me the whole thing was a sham. And when I say sham I don't mean sham wow. So in the end, his mining bond was a virtual mining bond backed by pirate. You know, ALA patrick harnett, hashking, and so on. "Oops".

You people are making me sick! You have no business being here. You do not care about the people losing money, you care only about your ego, preparing your new scam or showing your superiority.

If any of you would have read the original thread, you would have seen that I accept claims until March 15th. Yes, the pay back will take very long but I will try.

And because I see that on this forum all of you think you represent the law, I will go consult a real layer for advice.

From now on all communication will be done by email, I will no longer answer any question on this forums.

About all you've told anyone is that you lost the money somehow, no longer have the mining equipment and stole the part of GIPPT payment already received.

No sign of any answers such as a detailed explanation of where the funds went, an explanation of why no attempt has been made to collect funds for disbursement or a detailed schedule of how repayment will be made.

As you're not providing any useful information anyway, just what will change if you stop responding?

As for why we're posting here - I can only speak for myself.  Borrowing funds, guaranteeing them (with nothing to back that guarantee) then investing them in a blatant ponzi is NOT business, it's scamming (as you - and others like you - KNEW the guarantee was worthless when you offered it).  My only interest as far as you go is to try to ensure you don't get to scam others in the same way - e.g. by selling new 'bonds' to raise money to pay these ones off which ony changes WHO the victims are and increases the total amount lost.

Now run off to your lawyer and tell him how the nasty people on the Internet are being cruel to you because you scammed a bunch of people by making worthless promises you couldn't fulfil.  Maybe see if he'll take payment in bonds?

How quaint. Shall it be known as the Giga defense henceforth?

You mean the anonymous email that you used to notify shareholders and ignored responses to? Hell, the only reason I signed up on these forums was because you required that I private message you from here in order to file a claim and, after repeated attempts as email response, I finally caved. Now you claim that because you're trustworthyness has come into question you're going to go back to that medium of communication?

Done deal. Thank goodness I wasn't out much.

Where do all these scammers keep coming from...

Nefario

I'm not saying he is or not but, everytime I contacted ciuciu, I had gotten a very quick response from ciuciu. I received my asic.coop shares @ bitfunder. All communications from my experience from ciuciu has been very well great, experience from getting support/help from ciuciu was great as well, as he helped me with transferring shares at the beginning of asic.coop. I ought to mention as well, he loaned me a gfx card to mine itself, to pay it off. Just my thoughts. But then I had good experience with tizzytazzy for MP card exchange for btc last summer, he turned out to be a scammer. Ionno, who knows. Time will tell. I just hope you all are wrong, as I have shares with asic.coop.

Bueller?

Bueller?

Getting shares from all the scammers has never been a problem.  It's getting BTC that's always the hard part.

Um, why doesn't this guy have the scammer tag?

Not that it makes any difference, but still...

It is because you accepted my settlement and I no longer have any obligation to you.

I think the scammer tag has pretty much been abandoned in practice.