Bitcoin Forum

Despite a valiant effort The Syndicate is no longer active because we weren't able to raise enough coins in the two days the order form was open. All coins have been refunded today, 26 June 2014.

Look a newbie better trust you then  :D

So, are you putting people with lots of bitcoins together so hat they can use their bitcoin wealth to buy bitcoins?

I may be willing to be a trusted third party, but I refuse to give money for what are essentially stolen coins.

Best response to the situation that I have read.

I know we will be able to purchase these coins for less than the going market rate, hopefully earning a few dimes for our dollar.

I have received confirmation today that we are eligible to bid, and have wired the security deposit accordingly. As soon as ID verification for participants' sake is in place I will open the order forms and display the total amount of funds raised.

I have spoken with Rassah and we will be getting the ID verification done tomorrow afternoon. Until then, I am going to open the order form to the public.

I will edit the top post as often as possible with total quantity of bitcoins contributed.

Provide proof.

With no proof, this is certain to be a spoof!

You actually got people to send you over 400 bitcoins?  :o

As proof, I will provide Rassah with correspondence between myself and the US Marshals Service.

Additionally, here is a picture of the bidding format the Marshals Service wants us to submit: http://imgur.com/Huscpto

It's well above 500 now I think this will turn out great!

Looks like a scam and a very lazy one

Although we are off to a momentous start, if we do not raise another 1-2 thousand coins today I will have to give up the cause and refund everyone. We'll see what happens...

You have to be kidding me.

I thought he is going to collect USD but looks like he is seriously kidding right now. I'm not sure what a identity verification will help users in this case since escrow isn't holding anything.

Out of curiousity, did you actually talk to the dude, or he just used your name in the OP to gain some trust?

Seems to me like some newbie with no credibility is suckering people in to giving him bitcoin.
With that many bitcoin, I could enjoy a nice retirement.
If he does however give you a refund, cool beans.  But I doubt that will happen.

In fact I doubt that there are 586 Bitcoin in his possession.  In reality it looks like a big scam.

G'luck!

PS.  If you want a real investment, I will sell you an income generating 5 plex for half of that 586 coins!

$200,000 USD has been wired to US Marshals

Now bad for a newbie account with 22 posts to his name.

Now if you'd provide proof this payment was actually sent and provide an explanation how you were able to obtain such funds....

I talked to him on Skype, but text only so far. The plan was to do a video chat, but I got distracted by the Indiegogo launch, and didn't see him online. Will try tomorrow. Until then, I can't vouch for him.

So far, 818 coins have been contributed, about 100 of those being my own. Unfortunately, everything will need to be refunded because this is not enough to place a realistic bid. Therefore, funds will not be converted to USD and will be refunded within one day.

Sorry this wasn't a success, but I've made some good contacts along the way so I'd say it was overall productive.


The funds used for the deposit are mine personally. Hopefully the feds don't stiff me ::)

Out of curiosity, would you mind showing the wallet that the 818 BTC are kept in.
I find it fascinating that a newbie could raise that much funds.  So I just want to satisfy my own curiosity. 

BTW-  Valiant effort!  I wish I had that kind of funds to play with!   

Scammer tag this guy

Sign a message from the address that holds those coins. Or at least show us the address.
Doubt that you control an address with said coins though...

Ya that kind of verification would have helped his cause.  If he could at least prove that he was in control of a wallet with that much coin, that would at least lend him a little tiny bit of credibility.  But a Newbie on this board, saying that they control that much coin is very unlikely and lends NO credibility to his campaign without proof!

I have asked participants if this is okay and one of them said it is not, so out of respect for them I will not reveal publicly the addresses that were used to hold the coins. However, if anyone who participated wants to reveal their own deposit address it is entirely up to them.

Sorry this didn't work out, and I understand the lack of trust in a "newbie" bitcointalk account. However: Let me assure you I've been in and around the bitcoin scene longer than anyone who has posted on this thread.

I will not lock this thread but I will probably not check it often.

Good luck to everyone on all your other endeavors!

Also, a lesson to be learnèd: The age of the account is not proportionate to the money in the bank.

Right but with zero credibility, and with no proof of funds, and really no proof of anything, and no escrow.  There has to be some kind of safety net for potential investors.

As for showing proof that you control a wallet?  That does not expose any of your investors in any way.  I don't see how it's possible for them to be exposed in any way.  That's sort of the beauty of cryptocurrency, right!

Whenever someone says  "send me cash"  or "send me bitcoin" or whatever, I want some assurance that my investment is safe.  Just me maybe, but I don't just hand money to strangers and hope everything works out.

And I have been involved in bitcoin since 2011, so I know what you mean regarding "The age of the account is not proportionate to the money in the bank.".   But I have several bitcoin related websites that have age and name verification, I have made videos on youtube promoting bitcoin, and I have verifiable transactions that I have made with bitcoin all of which is as easy as posting a link.  But you have supplied literally nothing.

If you'd really like, I'll happily sign a message from an address used a few years ago, but like you said that proves nothing.

In the future if I choose to set off on another venture such as this I'll take all of these things into account.

Cough Cough.

https://docs.google.com/forms/d/1wrjw4QFnVTaBiRfAgGOLtdzwsZhb84GD1wdfSmaceN0/viewform
If you fill this form, it gives a bitcoin address at the end.
https://blockchain.info/address/19o7pEnFJ4SxagU9VuxPN5yTrmvhMtNZV9  (It's empty)
So if you haven't collected a single BTC from bitcointalk members, I am not sure why are you even posting updates here?


As for your positive feedback, I am surprised to see a positive feedback from a old member who didn't even made a single post after July 2013. Hacked account?

That form generates a unique address for every submission. As for the feedback, after doing a trade on localbitcoins I asked him if he could leave me feedback on this forum because I'm a new user, and he said "of course!".

I have answers for all of your questions so please stop wasting my time and yours.

To be honest, I really doubt that you have received 718 (+100 of your own) btc from others with a newbie account and zero info on your identity.

Anyway, looks like no one has complained about his/her lost (maybe because no one has invested at all). :P

As I stated, all coins were refunded within 24 hours of us losing the auction.

Sounds legit.

well, anyone to try this?  :-*

The Silk Road BTC auction is already over. ;)