Bitcoin Forum

How to Be a Bitcoin Investor

1. Check most recent dividend on every stock you can find, buy only the best ones!

2. Don't bother reading the descriptions, just a bunch of gibberish and jargon.

3. Invest aggressively! You'll be pretty sad if you miss out on the next big thing.

4. Only listen to advice of people that agree with you, everyone else is just mean anyway.

5. Believe the hype, we are the new wealthy elite, gentleman!

6. When price is rising on any stock, buy faster!

7. When price falls, consult the crowd to determine who did this to you (probably one of those meanies).

8. Trust everyone, what choice do you have anyway!?

I have a bit of a dilemma.. I sold AM the other day at ~3.37 or so, anticipating a dip in the short term. I re-bought at ~3.4 (no dip during the timeframe I was hoping.)

Who should I speak with about getting my 0.03BTC/share refunded? I want to speak with the guy responsible for my loss.

Thanks.

I bought bunch of AMC shares cause their hashing power will be 4E8B7$2V2%4h1310-TH/s when fully deployed. And they will mine 334BTC every 10 min. 

Can't wait for my 3btc daily dividends.

AM used to be crazy for thinking they would have 10% of the network

Think you're behind the times.  They've made an announcement announcing the date on which they'll announce the date of an announcement about ...

It does not matter when they arrived, and check your math - that is 13 times more coins than are actually available.

Maybe he's just projecting a shit-load of transactions with enormous fees.

You will stop laughing when AMC hits 110% hashing power! I'm in with all my moneyz!!!!!!!!1111eleven

Btw, I love that AMC pre-annoncment countdown timer for the official announcement that will lead to further announcement of whats to be announced. Wile with every announcement millions of shares are being dumped. I got a feeling this is going to be just another "projection" announcement, with no proof of anything. I think he'll milk this cow till KnC and Bitfury (100th/metabank) start to actually deliver, not counting what AM got on the road map with their 2gen deployment.  And just for the hell of it I'll mention BFL since it seems that they have actualy started to deliver.

* New Paradigm *!!!

The announcement will be that AMC and VNC have entered into discussions with someone important but can't reveal who its with or what it's about due to an NDA.  They can, however, project that everyone should continue throwing cash in Ken's general direction.

After his first bodged attempt (where he projected they'd mine more coins that the whole network would) I did think for a while that maybe he was just very keen, in a rush and didn't proof-read things properly.  But then when he started making projections based on current difficulty it became obvious that this is just a cash grab.  There are, after all, only two alternatives:

A.  He didn't have a proper projection - in which case he shouldn't have been taking cash at all.
B.  He had a proper projection but deliberately posted an inaccurate and misleading one.  In which case noone should trust him at all.

There IS no third option where he sort of has a projection and accidentally posted one with current difficulty then failed to correct it when it was pointed out.

Bitfunder needs this anyway - some massive loss for investors that will hopefully lead to a change in attitude where people who don't get their plans right first time get told to fuck off.

Certainly a start.

I hope they also get married the same way.

What is your take, then, on the fact that the pass-through for AMC was approved on btct?  bad idea?

I think pass-throughs in general will always get a much easier ride from Moderators because:

1.  Moderators assume (rightlyy or wrongly) than the security has already passed some detailed examination,
2.  Moderators know the contract for the underying asset can't be changed whatever they say.

And pass-throughs should in general be approved anyway provided the contract for the pass-through itself is clear and there's reasonable grounds for believing the issuer will maintain proper backing.

All a pass-through really needs for approval is to define how its shares relate to ones in the underlying asset.  Risks associated with the underlying asset are pretty irrelevant when approving it - as those are explicitly the investors' responsibility to determine and assess (it's similar to why it wouldn't be appropriate to reject a gold fund just because you thought gold was a bad investment).  Personally I'd have voted NO because the underlying asset is so terrible - but I don't believe moderators have a responsibility to make that judgment call.

I don't have a problem with idiot investors on BTC-TC throwing their cash away either - clearly they also need a wake-up call.  I'd bet most of them don't realise that not only is their investment diluted by Ken's own but also by existing investors who bought in for a fraction of the price - with there being no significant actual new assets or improvement in outlook justifying a massive increase in valuation.

I don't think Ken's anywhere near finished milking them yet - and good luck to him.  He needs to hurt investors for a few million for there to be any chance of the message getting through when it all gos horribly wrong and the realisation dawns on them that they have zero chance of ever making back what they invested.

I don't understand how they got listed in the first place. Is it really that easy?  
I just submitted application to get my company listed, It will be called BULLSHIT-PT.
BULLSHIT-PT is in talks with a major company to produce next gen 28nm Toaster/Miner.

I will announce on the next announcement when its announced, with a pre-anounment countdown timer. Please sign op for my newsletter for a pre-pre-anounment.

Lol @"peer review process".

Are we back in 2012, the year of citizen dentistry?


Eskimo Bob beat you to that one. Should have started earlier.

2012 was a full six months ago now. The crowds have already forgotten or been replaced by new "enthusiasts" as a new cycle starts. Maybe the crowds miss the circuses? Maybe these masochists want to be the animals whipped in the ring and are glad to pay the price of riding the hype till it hurts (again).

I think we're headed back to mid-2012 GLBSE era.  Where everyone gets to run a security and the possibilites (for losing money) for investors are endless.  Bitfunder doesn't even require that they have a forum thread or a means of contacting the issuer - and issuers can have the option of editing their contract at will (which I guess is ONE way of making sure they don't break their contract - just not really the best way).  They can even convert a bond to a fund without a vote or even any proper notification (already been done once - the face value and guarantee were removed from a security with shares outstanding).  For a while you could even list a business without disclosing what area of business it was in.

The good old days are coming back.

This is one of the ticking time bombs in this investment space that doesn't get much attention.  When and if it hits, it will be a big deal.

As just one example, if K. Slaughter of AMC fame really is someone living or working in Missouri, this is one of the things that could bring his house of cards crashing down.

And though we laugh at the folly of the green investor blaming the unforgiving market for his losses, it actually isn't that much of a stretch to imagine a disgruntled investor complaining to the relevant prosecutors or regulators that the issuers of these so-called "securities" are in violation of U.S. or European securities laws in an attempt to get redress for their losses.

Someone should do How to Become a Bitcoin Securities Issuer in 8 Easy Steps

1. Come up with an edgy name that sounds shady or has shady elements (i.e. Pirate, Nefario, Thieves, Diablo, PsychoticBoy, DeadTerra, Slaughter, Nasty, Deprived)
2. If not an edgy name, have a weird name (i.e. friedcat, usagi)
3. Have character and an ego. Have a blog that shows that you are edgy/weird (i.e. Mircea Popescu, furuknap)
4. Be able to write a slick first post of a thread with lots of hype and basically imply that if someone doesn't invest with you they are missing out BIG TIME. Basically be a great salesman.
5. Be able to spend x # of hours on bitcointalk so that you can defend your security/securities against a) other issuers and b) experienced investors. It does not really matter the content of your posts so long as your posts have enough text to seem to make sense. And also you tend to get the last word in.

Anything else?

You forgot my blog, tsukino.ca.

10. It doesn't matter how many mistakes/failed issues you've had in the past. All is forgiven and should be. Questions about the past are ignored/brushed aside as irrelevant and changing the topic. Let's keep the topic on the current issue please.
11. When questioned about lofty valuation or high management fees, appear to be above it all and try to justify it with as many reasons as possible. Including that it's a lot of work and time commitment. Never talk about the real reason why your issue has unjustified valuation or management fees, which is really that you want to MAKE MONEY.
12. Create press releases on a regular schedule to bump your own issue thread. It doesn't matter if the press release has any substance to it, so long as it has a decent amount of text. Be mysterious and create suspense/hype as you drop hints about future exciting announcements/press releases, also using these to bump your own thread.

He should have changed his first name to Jason to fit in better. ;D

Give me an A, give me an M, give me a C!

13. You don't actually need to do any work creating the fanbois - the fanbois will come.

All you need to do is to create a semi-decent thread in bitcointalk->Securities and then get your issue as quick as possible on either BTCTC or BitFunder ASAP.

The moment you get your issue officially on either exchange then you are now in the clear.

Success! Your issue is now trading, you are now "legit" and the fanbois will come from your initial purchasers. And with each post you add to your thread, you will have the added security of your fanbois attacking detractors and defending you, making your work easier.

Perhaps, but there's always a source of fresh recruits you'll get automatically get once they've bought in and have a stake in the program.

What I don't know is why you're encouraging the shit.


That's nonthink.


This is actually a good point, especially 5.

It's so rare these days I end up impressed with the posts of new users. Well done.


Yeah. Jared Kenna is still going to conferences, and people sit down with the guy. Fabulous.

Dudes, I love what you've done with this thread.


Details, please.


And then the idiots get broken and MtGox creates a new bubble and a new set of muppets gets sucked in and it starts over. EXACTLY the same.

And I've been trying to hammer this shit system that everyone else tolerates (Gavin, yes, you too!) because "have to be nice" or because "getting a cut" or because too stupid to think or for whatever other reason. And so has MP (http://polimedia.us/trilema/2013/preemptive-strike-to-have-on-hand-for-when-butterfly-labs-gets-hauled-off-to-jail-in-corpore/), for longer than I have (actually that's precisely why he's paying me to be here).

Simply brilliant, point # 5: Bjørn Furuknap who called me an idiot when I asked him to stop trolling 100th investment thread and to go back to his thread where he was trying to sell his 20 BTC Metabank ASIC  as a "mining bond" for 400 BTC

Exactly suited to Furuknap ,especially the 4 and 5....

This also what he called me... Give me Five ,mate.