The SEC is doing what it's supposed to be doing - investigating stock trading of unregistered investments. MPEx, "The Bitcoin Securities Exchange" is the problem. It doesn't matter what the stocks are denominated in. They're still investments. People have tried to get around this before. One scheme paid off in oranges. It was still a security.Remember GBLSE? Any questions? So are the 'SEC' are in charge of all foreign economies now ? Only the ones found here: http://www.sec.gov/about/offices/oia/oia_cooparrangements.shtmlDon't forget romanian law also requires registration of all securities/exchanges. |
|
|
|
|
Difference between bitcoin and litecoin is that the sole success of litecoin was due to being asic resistant.
But I cannot pretend to know how scrypt asics will effect the coins as anything could happen.
I think if FC wants to venture down that road I would support him but if he feels it would not be worth it and instead would like to focus only on btc asics I would support him as well.
|
|
|
|
This went WAY off-topic.
off-topic? You really want to hear very "pain in the ass" question which connects this whole discussion about unregulated securities traded on unregulated markets ... with NEOBEE? I don't want to be that guy ... so I stay quiet this time  What are you doing on a Bitcoin forum dude? Most things here are "unregulated". Why don't you go regulate yourself back to the nanny socialist state, which is nothing but "regulated" legalized theft by a bunch of kleptocratic parasites. Why not preach some agorism for a change instead of statist BS? https://en.wikipedia.org/wiki/AgorismI don't think you understand. Whether or not you or anyone else wants the SEC interference doesn't matter because it is happening. No longer is bitcoin considered play money and it has now become too large to slip under the radar. Scammers are realizing that the bitcoin securities market is a goldmine for idiots to scam and the SEC knows this and are finally doing something. Hiding behind bitcoin as your currency of choice doesn't make all existing security laws void. It's about the attitude not about what's happening. Of course thieves will want a share of the pie and thus look to regulate/steal/monopolize. They don't like theft derived profits going down. "regulation" never stopped scamming, it just pushed it to a more a exclusive club. Enron anyone? Regulation by very definition is scamming if done by government because it involves hiring people with stolen tax funds based on a "social contract" no one signed. I agree that regulation can often be more destructive than good but we can't pretend it doesn't exist. We need to work with the regulators if we want bitcoin/bitcoin denominated securities to go anywhere. (Or use decentralized trading with something like colored coins) I don't know how regulations will affect neo but based on the amount of speaking with cypriot officials I would assume they will do everything they can to comply with any laws surrounding them. |
|
|
|
This went WAY off-topic.
off-topic? You really want to hear very "pain in the ass" question which connects this whole discussion about unregulated securities traded on unregulated markets ... with NEOBEE? I don't want to be that guy ... so I stay quiet this time What are you doing on a Bitcoin forum dude? Most things here are "unregulated". Why don't you go regulate yourself back to the nanny socialist state, which is nothing but "regulated" legalized theft by a bunch of kleptocratic parasites. Why not preach some agorism for a change instead of statist BS? https://en.wikipedia.org/wiki/AgorismI don't think you understand. Whether or not you or anyone else wants the SEC interference doesn't matter because it is happening. No longer is bitcoin considered play money and it has now become too large to slip under the radar. Scammers are realizing that the bitcoin securities market is a goldmine for idiots to scam and the SEC knows this and are finally doing something. Hiding behind bitcoin as your currency of choice doesn't make all existing security laws void. |
|
|
|
with KNC announcement of SCRYPT ASICS and friedcat not seeing them be a worthwhile investment. with the prices of other alts and interest in scrypt asics - does asicminer not find it a good market to explore as well. with a well made scryptasic this year (possible solo mining) it could give friedcat and AM further revenue, stronger foothold in cryptocurrency, diversification and many other benefits. someone should talk to him about exploring this option again.
The point in scrypt is that it's ASIC resistant and the Litcoin devs are against ASICs. They might very well alter the code or switch to sth else than scrypt and make your 10K USD scrypt ASIC into a very expensive doorstop (you could probably still use it as an electric heater, hoping it's not too noisy for the home). I can see why FC doesn't want to waste allocate resources for developing a scrypt ASIC. +1. scrypt ASICs dont make much sense. If a single cryptocurrency is to succeed it would be Bitcoin, otherwise it would be another SHA-256 coin that improves significantly in a few ways (such as smaller size blockchain, shorter block times, or the capability to handle much more volume) so that the massive pile of existing infrastructure remains useful and secures the network. its like inventing the stone wheel, then deciding that the rubber-covered square is the real game-changer I don't think they can force a hard fork given ASICs are rolling out and making an impact, it'll only destroy the coin by forcing a hard fork, so scrypt ASIC and coins are here to stay! I agree that a hard fork would be destructive but I don't know if scrypt-coins are here to stay. Correct me if I'm wrong but isn't the main purpose of scrypt to be asic resistant and now that asics exist we might see a new algorithm that is more gpu friendly and more asic resistant causing most gpuminers to switch and bringing down the value of scrypt coins as they do so. I don't think there is a big enough market to justify the risks of creating a scrypt asic but then again the same could have been said a year ago with bitcoin. |
|
|
|
...
Mpex is a pyramid scheme because it rewards "investors" 10btc for each new "investor" they recruit to pay 30btc registration fees.
MPEX is not being investigated, Eric is. MPEX is your obsession, not the SEC's. Frankly getting a bit tiresome. Yes I should not have included that bit as it seems to have added confusion. From what we know mpex is being contacted during an investigation of erik voorhees, an american citizen, likely for operating an illegal unregistered stock. As we know btct.co and bitfunder were slammed by the SEC and many bitcoin securities have been investigated. It is quite clear that, contrary to MPs belief, the SEC does not need an declaration from congress stating that the SEC has the right to investigate mmorpgs, wow gold, or even bitcoin. |
|
|
|
Romania is listed under the SEC coop agreement and Erik is an american citizen. And I was not talking about satoshidice when I said a pyramid scheme. Mpex is a pyramid scheme because it rewards "investors" 10btc for each new "investor" they recruit to pay 30btc registration fees. |
|
|
|
What do all this have to do with NEOBEE?
I mean, did I miss something important?
SK
Well, NEOBEE is a bitcoin security and if MP's email exchange is to be believed, it hints that US SEC is out for blood in regards to bitcoin securities. Even those traded on exchanges not domiciled in the US. So as Walter Sobchak would say: "This affects all of us man!" It is becoming quite obvious that the feds do not consider bitcoins play money anymore. What do all this have to do with NEOBEE? I mean, did I miss something important?
Has nothing to do with neo. I doubt the SEC will come close to neo since it seems they have the cypriot gov on their side. Anyways a more related thread from the OP of those emails calling neobee a scam. It is quite the laugh: https://bitcointalk.org/index.php?topic=516460.0 |
|
|
|
maybe its because *speculation here* SatoshiDice was acquired and used for mass money laundering scheme for some big guys, which are under investigation, evoorhees is under investigation thanks to that too ... i didn't see any advertisement or something about SatoshiDice after the change of ownership... its like > anonymous flow of money into casino = anonymous flow of money into bitcoin securities, because of that I was asking here few months ago, what is the legal declaration of neobee shares and if its everything legal... of course i didn't get an answer from competent people, what exactly are shareholders holding.
EDIT : reading that emails ... MPOE nailed it
Yeah, he fucking nailed it alright. As to what SEC is really after here, I been thinking about that too. Perhaps as you suggest there's some money-laundering tie-in here with bitcoins flowing through Satoshi Dice. That seems reasonably plausible, but then again seems like there'd be better ways of mixing coins that don't leave taint. It also occurred to me, especially with the focus on SDice, that they might be more concerned with the gambling aspect than they are with the fact that there's securities out there not under their dominion. But either of these reasons was the case, why would SEC be taking the lead on this, as opposed to some other three-letter-agency? Money laundering and online gambling seem to be outside SEC's bailiwick... not that US federal agencies aren't a confusing jumbled stampede of jackals. It's pretty obvious why mpex/satoshi dice is being investigated by the SEC. It involves trading illegal unregistered securities on an unregistered exchange. An exchange which is set up to be a pyramid schemes by earning 10btc per person you recruit to pay 30btc registration fees. That is all in addition to being a ponzi where the only stock traded on mpex is their own and all profits are derived from new investors. I am not sure how people are congratulating him for that excuse of a defense. Clearly underestimating the power/reaches of the SEC. |
|
|
|
I have been slowly reviewing and investing NEOBEE, but your questions have opened up my eyes a little further now.
So, yeah, I want some answers because this is right on target in the mindset I was at, but couldn't ask it the right way.
Anyone know any other info about the CEO?
Here's what I found after some serious investigating on danny brewster: http://m.imdb.com/title/tt0559842/Turns out this whole time he's been a gangster in the dick van dyke show. |
|
|
|
looks like asicminer is going to lose 40nm race unless friedcat cuts prices drastically thereby reducing margins... forget avalon, bitfury or even bitmain here comes israeli brilliant minds, chip designed by ex-intel and motorola engineers.... so far reaction from community seems extremely positive.. SP10 – Dawson 1.4 TH/s for delivery in March The Hammer was specifically designed for the new SP10 – Dawson mining rig. The Dawson houses 192 and works at 1.4 TH/s with power consumption between 1.2 KW and 1.35 KW. this is what really blew me away..  SP30 – Yukon 5.4 TH/s
The Yukon will deliver an amazing 5.4 TH/s, nearly X4 the hash rate of SP10 - Dawson. The hash rate will not come at the price of size or power consumption and the unit measures only 2U allowing for efficient stacking. The unit’s power consumption is estimated to be around 2.4 KWhttps://bitcointalk.org/index.php?topic=521520.0Introducing the Hammer ASIC The Hammer ASIC was designed for high performance and power efficiency. Its specifications are highly competitive: Process Node 40 nm Package Type QFN64 8 mm x 8 mm I/O Serial protocol with clk, datain and dataout Rated Hash Rate 7.5 GHash/s per chip, with a wide range of overclock/downclock options. Up to 10 GHash/s in a typical corner. Rated Voltage 0.63 V, recommended voltage range is 0.6 V – 0.8 V
Power Consumption 0.58 W/GHs0.6w/gh is not really comparable to 0.35w/gh and at $0.5-1/gh asicminer is by far the cheapest option available. However their next generation 5.4th miners using 28nm will compete in efficiency but probably not in price. |
|
|
|
Quoth MP: Bitcoin is a sovereign. Accepting this matter of fact is a sine qua non prerequisite for playing. No exceptions. Title should be changed to cringe-worthy interaction with financial institutions. Its about time mpex gets slammed by the SEC. Wow...what a dick thing to say. Welcome to my personal ignore-land. The SEC hardly seems to be "slamming" them. Looks more like they got told to fuck off if this was indeed the actual exchange of email. Care to elaborate as to how many times telling the SEC to "fuck off" worked out for the people being investigated? Fact is mpex is a highly illegal unregistered exchange selling unregistered securities. Fact is mpex is a pyramid scheme (recruiting someone to pay 30btc registration fee earns you 10btc) And now that there is no trading of options/futures/stocks other than mpex own stock which profits are entirely derived from recruitment of new investors makes it literally a ponzi. |
|
|
|
Quoth MP: Bitcoin is a sovereign. Accepting this matter of fact is a sine qua non prerequisite for playing. No exceptions. Title should be changed to cringe-worthy interaction with financial institutions. Its about time mpex gets slammed by the SEC. |
|
|
|
what about listing the legit ones, might be quicker
This ^ Cannabit is one. Only reason I am forced to use that site. |
|
|
|
|
I'm with all 50 of you that think bitbet is a scam/bullshit.
Any company can parade around as a legit service and include bullshit in the fine print that screws over customers.
There is absolutely no reason that a bitcoin betting service should include an arbitrary rule that any late/incorrect bets will be confiscated. That is absurd. Anyone who uses bitcoin knows that a SECURE confirmation can take anywhere from 10 minutes to more than an hour (say ghash.io gets 4 blocks in a row) even when using a high transaction fee.
It is sad that such a nicely designed website can't be used because it is run by unethical thieves.
|
|
|
|
Projections and appendices will be released this week not tomorrow |
|
|
|
|
Getting sent to an error page when trying to issue coins.
|
|
|
|
Found a minor bug: Address should be on a single line (notice the 'C' overflowing) to avoid accidentally sending to the wrong address.  https://i.imgur.com/hUiZMBl.jpgAlso when sending btc the balance (on home) only subtracts the tx fee and not the tx amount with it. Send page updates balance accurately but home page does not. Also are there plans to incorporate 2-FA authentication? It is a must for any online wallet. |
|
|
|
I met Danny last week in Cyprus. They have an impressive structure in process there. In exactly what way do you find them to be committing fraud or scamming someone? While I agree I wouldn't want to put money into a Neo account because when I buy BTC I want the currency exposure, that alone doesn't make it a scam. They are quite upfront about the fact that they will benefit, rather then the customer, should BTC prices rise vs Euro... But since they state that, how is it a scam? I can see why a Cypriot might want to hold a steady number of euros in a BTC account outside of the traditional Cyprus banking system...
I left Neo's office rather impressed. Other then Straw Man attacks against Danny himself I don't see anything here that would suggest they are scamming anyone. Unless you are simply staying that Danny is stealing BTC for personal use, I really don't get what you are claiming.
Can you elaborate on how/why it is a scam?
Thanks
Did you even read the OP? This thread is a joke just like every dilusional post mpoe pr has made. I feel like the only reason mpoe pr spams such nonsensical shit is to advertise his/her scam of an exchange with the hopes of getting 1 or 2 more idiots to pay the 30btc registration fee to trade on the useless exchange. The actual people with actual functioning heads and actual fortunes actually involved in Bitcoin
Wow that's a whole lot of superiority complex coming from someone so ignorant. Better luck next time on your armchair sleuthing. |
|
|
|
|
Show Posts
