This was PM'd to me. Isn't there a chance he can just decide any motion by himself on account of these thousands of shares that are most likely his? The motion on discontinuation of payment of dividends certainly looks like it was done that way. Diablo's personal account is frozen, so he himself won't be able to vote using those shares, however you have a good point, one of the reasons there is going to be a week before the vote is to a) allow people to discuss it fully and for diablo to make his case b) allow time for me to investigate. Suggestions on how to handle this issue are welcome. |
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I don't think he deserves the scammer tag, he's likely just incompetent. This has actually been coming for several weeks, as in shareholders have been complaining for weeks, and I had hoped that he would turn things around. Here is what Diablo has said to me on IRC regarding the physical assets of DMC (18:44:04) nefario: Hi
(18:44:10) Diablo-D3: hi
(18:44:35) nefario: Just to let you know you're having DMC removed from you for gross incompetence
(18:45:01) nefario: The process being
(18:45:06) nefario: I'll run a motion
(18:45:19) nefario: and you're shareholders will decide whether to allow you to continue or not
(18:45:27) nefario: in the mean time your account has been frozen
(18:45:54) nefario: Once the motion is finished, if they're happy with you, everything gets unlocked and you can continue as before
(18:46:12) nefario: otherwise I'll remove DMC from your GLBSE and find someone competent to either run it
(18:46:13) nefario: or
(18:46:16) nefario: liquidate it
(18:46:32) nefario: and your own personal GLBSE account will be unlocked
(19:31:02) nefario: Diablo, are you actually doing any mining yourself? Or do you have any physical assets that belong to DMC?
(19:31:36) Diablo-D3: yes, and you cant touch them.
(19:31:50) nefario: I'm not going to try
(19:31:55) nefario: shareholders will
(19:32:08) nefario: It's up to them
(19:32:10) Diablo-D3: I am writing a reply on the DMC thread.
(19:32:26) nefario: Please do
(19:32:31) nefario: the vote will be next week
(19:32:36) nefario: you need to make your case
(19:32:48) nefario: if you can convince DMC shareholders to keep you
(19:33:48) Diablo-D3: I think you have misunderstood
(19:34:00) Diablo-D3: DMC will continue operating no matter what you do.
(19:34:09) nefario: fair enough
(19:34:26) Diablo-D3: I don't know why you are attacking me or my shareholders, but no one is particularly pleased with your actions
(19:34:34) nefario: Im not
(19:34:40) nefario: I've been pushed to do this
(19:34:50) nefario: and the pushing started weeks ago
(19:34:57) Diablo-D3: You're going to be pushed to shut down if you continue this.
(19:35:07) nefario: Lol
(19:35:15) Diablo-D3: You have a chance to apologize to the community, I suggest you take it.
(19:35:26) Diablo-D3: I am also going to recommend to theymos that he add a scammer tag to all of your forum accounts
I would only recommend a scammer tag if he failed to return DMC assets which he holds (physical ones) to DMC and it's shareholders. |
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Due to a considerable number of complaints by shareholders for contract violations and gross incompetence I am proposing the removal of Diablo-D3 from the running of DMC.
His account has been frozen until such time as this issue is resolved.
I will run a motion and shareholders will determine whether to continue with Diablo-D3 running the asset.
If they are happy for him to continue running (and the motion doesn't carry),his account will be unlocked and he can continue as before.
If not DMC will be removed and a new operator will be found, failing to find an operator will result in DMC's assets being liquidated, Diablo's personal account will then be unlocked.
Nefario.
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I'm really looking forward to the conference.
Yeah, me too. Only 4 days, can't wait  Actually the hackathon starts tomorrow. So it's already kind of begun. This really is going to be just fantastic, as there isn't just the conference itself, but so many after events as well. |
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Now that Matthew has been labelled a scammer, I presume you guys have invited him to speak in London?
Correct, he is listed at https://sites.google.com/a/bitcoin2012.com/homepage/speakers. I am actually attending this conference, but am feeling increasingly uncomfortable about it. Matthew N. Wright is a serial entrepreneur living in South Korea, and quit all non-Bitcoin related work to found the Digital Commerce Advancement Organization, the largest Bitcoin business incubator. He co-founded DialCoin, Bitcoin Magazine, BeyondBanks, Safebit, BitcoinMall, ElletSys, and the Bitcoin Association of Korea, offering bi-lingual informational, business integration and translation services. He currently serves as Editor-in-Chief of Bitcoin Magazine.
He's still listed on the page (I'll fix that now) but he's not speaking. Also I don't know why someone said Zhou was sponsoring, thats not true AFAIK. So lay off the hyperbole and enjoy this, it's going to be absolutely awesome, turns out there is going to be a lot more press there than we originally thought. |
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Not for long.
Also there are several on GLBSE at the moment that would only need a little help in reaching that status.
Most on GLBSE are already that status imo. No offence to you. Not exactly, getting into the white catagory would mean you need: 1) A revenue generating business 2) Provide accounts 3) Get verified (minimum photo and address verification) The majority of GLBSE assets do not meet these standards. |
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I don't think I would even NEED a lawyer, I mean, even if I agree with whatever they're asking for, I'm not worth anything. Can't get blood from a stone.
That might be true, but that probably won't be true forever. Yes, at the present time, there is absolutely nothing to gain from suing me or GLBSE. In the future that may change. |
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I'm sure it would be TOTALLY worth while suing me, I imagine my hat and ocarina collection (both rather small) would be worth....something. Perhaps my phone? Or the nice pair of shoes I've recently bought.
That's just what your lawyer would get in fees for defending you, at least if the legal system in the UK works anything like it does here in the US. Just imagine all the trinkets lawyers must own, that or they'll all make good friends with pawn shop owners I don't think I would even NEED a lawyer, I mean, even if I agree with whatever they're asking for, I'm not worth anything. Can't get blood from a stone. |
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Much better title, thanks for changing it. I would recommend having one person from the project sell bonds, i.e. make a very large personal loan with many many smaller investors, and then as the single person invest the funds. You don't need a market to do this.
Thinking about it some more, we wouldn't even be able to allow pass through bonds, due to the danger of being taken down as a source of funding for federally illegal drugs production.
Nefario.
Could one person offer bonds and hint hint nudge nudge wink wink, invest the procedes into a "high return business" thus bypassing the restrictions, or by asking this question am I ruling that possibility out for everybody? Of course. But that defeats the purpose and people would just claim you are running a ponzi with no business model because you cant state at all what the bond is for and thus would get very few investors imo. https://bitcointalk.org/index.php?topic=105437.0 is a better way to manage it. Quite possibly. |
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I'm liking this idea, how can the system be run without a specific operator becoming a target. What I mean is, if someone wanted to list shares for a service or something that would generally be considered illegal what is to stop the feds from going after the site operators (currently you in this example) and the issuer?
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I'm sure it would be TOTALLY worth while suing me, I imagine my hat and ocarina collection (both rather small) would be worth....something. Perhaps my phone? Or the nice pair of shoes I've recently bought.
Mmm, better be prepared though. Sometimes these legal folks have a "shoot first and ask later" mentality. I wouldn't be surprised if they try to take down GLBSE for some initial investigation - only to decide later that the request was not justified. Then you'd have to sue them back for the damage the take down did cost you... and everyone else. Can't really take down GLBSE, attempts to do so would only result to us moving to a different domain and set of servers. I suppose I've got a couple of pairs of nice sun glasses. |
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Much better title, thanks for changing it. I would recommend having one person from the project sell bonds, i.e. make a very large personal loan with many many smaller investors, and then as the single person invest the funds. You don't need a market to do this.
Thinking about it some more, we wouldn't even be able to allow pass through bonds, due to the danger of being taken down as a source of funding for federally illegal drugs production.
Nefario.
Could one person offer bonds and hint hint nudge nudge wink wink, invest the proceedes into a "high return business" thus bypassing the restrictions, or by asking this question am I ruling that possibility out for everybody? I know what you mean, I still think it's a bad idea(not specifying what funds are being used for leaves the asset open to abuse). Really the best thing to do is have someone who is in Colorado (and therefor under state protection) do the borrowing and lending(set up a site in Colorado), anyone else is going to become a target for the feds, and if they're on GLBSE then will make that a target too. |
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Why would I shit myself wathing you doing exactly what I once asked you to do? So how is it going Goat with you suing Pirate - still planing doing it? Because I really don't think so - you will be the one who gets sued. You and Nefario. And you will both end up in jail, so you are definitely the ones who should be shitting themselves now I'm curious how Nefario would be at fault for this in any way. His system was used for the bonds sure, but he's simply running a service that allows pretty much anyone to sell whatever they've got shares of to sell. At the time PPTs were an investment (of debatable quality, but that's not the point I'm making). So Nefario did what he's good at. Running GLBSE (I imagine most people would be pretty angry if he just shut it down). So all we're left with is that Goat sold more shares of his debt with Pirate and that you think Nefario and Goat are best buddies, the same person, or all part of your tinfoil hat conspiracy (Be careful, Goat's psychic powers can penetrate through aluminum foil, that's how he brainwashed me). Suing Nefario due to PPT bonds would be like suing the Nasdaq after Enron. Not terribly likely to be succesful... I'm sure it would be TOTALLY worth while suing me, I imagine my hat and ocarina collection (both rather small) would be worth....something. Perhaps my phone? Or the nice pair of shoes I've recently bought. |
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Yeah, will be working with issuers to get them into white, and then eventually blue.
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Hey Viceroy, everyone.
I think this is a really cool project which I'd like to see go ahead.
So after spending some time doing research and thinking about this I certainly don't think that this (as it is) is something that GLBSE could host as a project, it would be unfairly putting all assets listed on GLBSE at risk.
As Viceroy has said, this is being legalised in Colorado which lets face it, is awesome. The problem comes from the federal government and federal agencies.
If GLBSE was a Colorado registered business then there wouldn't be any problem with this, but since we're registering in the UK very soon this is not the case. A company registered and operating in Colorado would have the protection of the state as long as it follows state rules.
Something like GLBSE, which operates from outside the US would get swatted down by the FBI (and several other federal agencies, ICE maybe?) so fast, and I'd end up being extradited to Washington to be prosecuted as a drug lord (ok not this bad but you get the idea).
The level of risk/reward for this project seems to be sufficiently high that it would merit it's own website, OK it wouldn't be a market that would allow investors to move out if they wanted to but could allow the management of many small investors for the long term.
I would recommend having one person from the project sell bonds, i.e. make a very large personal loan with many many smaller investors, and then as the single person invest the funds. You don't need a market to do this.
Thinking about it some more, we wouldn't even be able to allow pass through bonds, due to the danger of being taken down as a source of funding for federally illegal drugs production.
Nefario.
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Let me guess.. Namecoin (Zhou) is now a sponsor?
This is hilarious beyond words. Lets work out the net total of the thefts conducted by/with the explicit help of these "sponsors" and "distinguished guests"...?
This conference will do a great job at further entrenching the undesirable stereotype bitcoin has (as a community infested with criminals and idiots).
BB.
The only one missing is Bruce Wagner. No no, he's our mystery guest speaker. 2 tier 2 places left with the discount and Tuesday graphics deadline. |
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Also any Tier 1 sponsorship after this time (i.e. now) will not include printing on the event guide as printing has already begun.
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Deadline for Tier 2 artwork is this Tuesday.
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Well over 200 tickets sold already, and the rate of sales is increasing.
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100 for 1 split has taken place, sorry for the delay.
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