We need a defense against this ....
First of all we need a defense against assets issuers who run with their investors' money breaching their contracts. |
|
|
|
I see huge opportunities for BTC biz in Argentina: they should just sell their goods/services for BTC as they are already doing for USD. And they have lots of marketable things, starting with prime land and real estate. I seem to remember that they are even a major producer of silver. Argentina's New Currency Rules Have Backfired Horriblyhttp://www.businessinsider.com/argentinas-currency-rules-backfire-2012-9The fun may start when Argentinians will notice that BTC are better than USD since they cannot be seized at the border nor wherever else, and they tend to increase in purchasing power. edit: BTW, in the nearby Chile there is Simon Black of Sovereignman.com who is hiring and looking for more business ideas. See: http://www.sovereignman.com/expat/about-those-jobs-8912/ |
|
|
|
Why should we even bother investigating
There is nothing to investigate: just a look at the contract and dividends paid would take less than 10 seconds. Then maybe you might consider to tag even someone with much higher rep who is still defending the scammer on his asset thread, so putting innocent bystanders' savings at risk (since the asset is still traded on the GLBSE). |
|
|
|
<@pirateat40> the earliest estimated time that coins can begin moving is Friday, Oct 12th.
The only serious date is the latest time, or expiration date, as normally used on contracts and wherever. More B/S as usual. |
|
|
|
a big red scammer tag for moparguy would be appreciated.
Theymos, do you copy? Is anyone in charge? |
|
|
|
Currently he is "still saying" he will slowly buy back shares from mining profits and his personal funds.
You mean the formerly "personal funds" of his investors? Not tagging a scammer hoping that so he will behave better in the future is silly. He will scam more at any chance. It would be better tagging him a.s.a.p. and maybe remove his tag once he cleared his mess if he do it fast. And anyway that is not the only retaliation his investors should opt for. Asking Nefario to freeze his assets maybe another one. |
|
|
|
Any update on that front?
I am waiting for Nefario too. Just forwarded him your question. edit: in the meanwhile, a big red scammer tag for moparguy would be appreciated. |
|
|
|
I still wouldn't call him a scammer as at least his intentions seem right.
It is pointless to judge intentions. Just facts matters. And the facts are that a breach of the contract already happened. |
|
|
|
So what he is doing with the capital he raised selling bonds? If he bought FPGAs he should run them or sell them. Keeping all for him and say phuck U to his investors does not seem quite right.
No, but agreeing to that contract is not quite right either :/ I missed the part of the contract where it states that he can run with the money whenever. Can you quote it? |
|
|
|
Cognitive should be doing excellently.
What's the plan B in case someone else beats BFL? |
|
|
|
And how about this part of the contract (already breached): Bond holders will receive weekly coupon payments of the total BTCs mined by the pool less energy and administrative costs (both minimal due to using ONLY low energy use FPGAs procured in bulk at significant discount). Coupon payments will be made Monday for the previous 7 days of mining activity Seems that if he will no longer mine what dividends will there be to pay?  So what he is doing with the capital he raised selling bonds? If he bought FPGAs he should run them or sell them. Keeping all for him and say phuck U to his investors does not seem quite right. |
|
|
|
Yes they can. They can quit, walk away.
Not according his contract: Bond holders will receive weekly coupon payments of the total BTCs mined by the pool less energy and administrative costs (both minimal due to using ONLY low energy use FPGAs procured in bulk at significant discount). Coupon payments will be made Monday for the previous 7 days of mining activity Nowhere his contract says that he can decide to stop paying dividends whenever he likes. On the contrary the contract says that the dividends will grow in time (while he instead reduced them before stopping to pay at all): The coupons will grow as the FPGA cluster is increased in size. The initial clusters are running and significant size/space improvements will occur concurrently. |
|
|
|
If Time shows that he really did it this way than he is a scammer, IMO.
Time already showed it: he did not pay dividends on monday 24. |
|
|
|
"When he likes" in my country means never. And how about this part of the contract (already breached): Bond holders will receive weekly coupon payments of the total BTCs mined by the pool less energy and administrative costs (both minimal due to using ONLY low energy use FPGAs procured in bulk at significant discount). Coupon payments will be made Monday for the previous 7 days of mining activity |
|
|
|
|
So anyone can stop paying dividends when he likes and promise to buy back his bonds when he likes at the price he likes? OOOK
|
|
|
|
The issuer [ https://bitcointalk.org/index.php?action=profile;u=62574 ] of this mining bond: https://glbse.com/asset/view/FPGAMININGpaid the last weekly dividend on 2012-09-17, that is he stopped unilaterally to pay dividends with no previous warning, then he announced that: I am slowly buying shares back from mining profits and from my own cash I am buying bitcoins with.
B/S: now there are just bids for 2 bonds above 0.2202 BTC (from an IPO price of 1.0 BTC) I am not trying to cheat anyone, I just can't buy them all at once.
He does not say what he did with the BTC he received for the 3915 bonds he sold, and why he cannot use them to place some serious bids to buy back his "bonds". For those that I can't buy immediately, I am treating it as a loan,paying interest, until all can be paid back. This is more cost effective than liquidating the FPGAs I have.
He does not say when he will buy back his bonds, nor how much interest he will pay and when, not to speak about asking for the opinion of bondholders. I am not a Pirateat40.
Last famous words |
|
|
|
I'm an investor
You are just a sock puppet, and failing at it. I'd been in moparguy's shoes I'd have told everyone to get screwed after the BS he's been receiving.
Then you must never have been involved in any business, and you should continue to do so. You cannot just take people's money and run. That is called theft, and that is what I am now going to call in scam accusations. [B/S] FPGAMINING paid a very good dividend which has since dropped to a good dividend and now, because of the scam accusations, it wont be paying anything so it's not moparguy I'm pissed off with.
So because someone accused him to be a scammer, he felt obliged to prove that the accusation is true?! Strange logic. Tell that to the Bitcoin police. |
|
|
|
|
Show Posts
