I am pretty butthurt about all the pyramid schemes I didn't get involved in early you're right. How early did you get in? How much btc have you made off your recruits?
Here's some interesting actual data: the original shares were sold through a blind placement. They went for 9085 satoshi on the first round and 2433 satoshi on the 2nd round. Currently the shares trade around 90,000 satoshi. That's a 1000% to 4000% increase over less than two years, and some off the cuff calculation would indicate S.MPOE has generated just about a billion dollars' worth of new wealth for its holders. Which favorably compares with the sum total of all Bitcoin related ventures, plus all alt-chains, plus everything else. MPEx is, quite simply, the biggest thing that ever happened in this space. On the other score: MPEx has been humiliating the SEC in public since 2012. Moreover, the DFS itself came to the conclusion that MP's 2012 article on the topic of Bitcoin regulation is both sound and controls the matter. That's right: it took the USG two years of hewing and hawing to finally work up the balls to come out and plainly state "yeah, that MP guy actually knew what's what way before we figured it out, you should probably just listen to him in the future because we're 12 and what is this." Sooner or later you're going to just learn to deal with it: there are huge things in Bitcoin, whether you agree or not, whether you understand how they work or not. They don't give a shit about you, or your government. Again, whether you agree or not. Such is life. Wow your ponzi has increased in value from when it sold ~1 million shares to the point where it sold 150 million? What about all those idiots along the way that didn't get in at ipo and bought/are still buying absurdly overpriced shares in this ponzi? If I can find 1 idiot to buy 1 share of my company (which will have 100 trillion shares) for 0.01btc does that mean my company is worth 1 trillion bitcoins? Of course not. You must be huffing paint if you think mpex generated 1 billion usd worth of wealth for its users. That statement is an flat out lie and you know it. You moved around 14k worth of wealth last year and your ponzi (with 85% shares unsold to public) is evaluated at 1 billion usd. You are right about mpex being the biggest thing in this space. But only in the space of bitcoin ponzi schemes. Your blog posts are so embarrassing it is honestly a waste of time reading. You pretend that bitcoin cannot be regulated by the SEC because it is virtual money. That statement might hold grounds with the armchair investors/mpex cult members but anyone not involved in this ponzi will tell you that that statement is bullshit and would never hold up in court. Everything you say is carefully constructed to deceive those with a lack of understanding of real world finance. But I guess it takes 30btc for some to learn a life lesson (on how to lose 30btc or more). Since predicting the most obvious shit elevates one to the status of "god of bitcoin finance" and I predicted that all of mpex revenue is from new recruits does that make me a god in your eyes? |
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And its not hard to be right every once in a while when you call every project a scam in a market with 95% scams.
Once in a while, eh? Aren't you the little misunderstood hero. It certainly doesn't take 12btc per month to do that
It takes whatever MP says it takes. This being the difference: nobody asked you a damned thing. At the rate you're going that's never changing, either. Anyways now that it has been confirmed to be nothing more than a way to move money around without creating any value I think we can let this thread die and the free publicity with it.
Congratulations on having literally destroyed all of Wall Street, its hopes and aspirations thrown into the gutter by the valiant logic of one lonely anon fuckwit. Or did I miss the picture of YOU sitting around at a table with "some people" including the hottest chick on this forum in her 19 inch red heels? What shall you do next? End poverty? Cure cancer? Stop and think for a minute? It basically just says that you need to have capital which is a joke because only a year ago it required 200 dollars capital and it now requires 30 grand..
30 BTC is still 30 BTC. What are these "grands" you speak of? Seriously, what is it you're so butthurt about?
Less butthurt. More confused as to why this recruitment scheme has such a delusional cult following. What exactly gave you the impression you're being recruited?
All revenue from new gamblers = ponzi.
Of course that assumes the new gamblers are even real..........
This "ponzi" has been here before you, and before him, and before the first actual Bitcoin ponzi even collapsed, or even started. In fact, this "ponzi" is a good chunk of the actual reason that first ponzi died, at a time when most everyone else was about as clueless as you are today. You not knowing WHY Bitcoin is worth a lot today doesn't change things around. MPEx is there. You're neither here nor there. Because you need a higher than average apr to accomodate for the ridiculous registration fee. Otherwise it wouldn't be an intelligent investment, even if you overlook the fact that its basicly a pyramid scheme.
Depends on your volume. If your volume is negligible, then an upfront fee is a big problem. If your volume is significant then the fact MPEx trades at 0.1% average is a major point. At some point you gotta stop and think about your relative position in the world. Serious question: What planet are you from? I honestly want to believe this is just the greatest and most dedicated attempt at trolling but I think people are actually buying in to the shit you say. You do realize you are eventually going to have to get a real job? Either when this ponzi implodes due to the free market or when the SEC or similar agency shuts the scheme down for breaking several security laws (being a ponzi is only one of them) |
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So without any revenue from gamblers does that make mpex literally nothing more than a ponzi scheme?
In case you guys over at #bitcoin assets don't know what a ponzi is here's a nice definition:
Ponzi scheme is a fraudulent investment operation that pays returns to its investors from existing capital or new capital paid by new investors, rather than from profit earned by the individual or organization running the operation. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.
source: wikipedia
Literally the definition of mpex
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Hello Folks:
Many thanks for your considerate and informative responses to my 7 questions yesterday. I just have a few additional questions and comments:
1. Is it correct to assume that you will always value MINE at the stated 200 days of dividends, no matter where in the cycle we are? For example, after a typical 14-day cycle will dividends be based on 200 days or on 186 days?
2. I understand where the 1% fee goes much better now. But I don't see how the Issuer of the fund makes any BTC. If that fee is just enough to pay HL their fee and to provide a small buffer then how does the Issuer get rewarded for all of the quality time, energy, and ongoing management work necessary to bring this innovative concept to market and to make it a success? The Issuer deserves compensation for all this work and hassle!
4. I got the 2,514,532 Difficulty number from the IPO Prospectus on p. 4. Many thanks for the link to the actual data--it really helps to clear up this issue. Might I suggest that you include this link directly in future communications with investors, especially those of us who are kind of hazy on the nuts and bolts of how hashing & mining works?
I assume that you set the penalty at 1/2 % per day for MINE transactions because it reflects the shorter remaining life of the fund, at 1 day less/ 200 days standard. So in this way it's like the situation with ex-dividend valuation of shares of common stock, where the market price of the stock falls by the $ amount of the quarterly dividend on the ex date. Since you pay dividends each day this adjustment makes sense.
In sum, if I get your plan correctly now the 0.2431 BTC for EXCH is ultimately divided between MINE and SELL holders depending on whether the difficulty increases rapidly (favoring SELL) or slowly/as expected (favoring MINE). So it really IS a zero-sum game! In effect your derivative functions as a LEAP where the time frame is several months, MINE represents a call option for those bullish on mining investments, and SELL represents a put option for those bearish on mining investments. I really like this concept!
Ill try to answer these questions to the best of my knowledge. 1. MINE always pays out 5gh/s worth of dividends daily. This is a fixed rate that can be calculated mathematically. 180-200 days left of dividends is the target with those 20 days being a buffer zone (difficulty adjusts every 14 days so he left 6 days worth of dividends extra just in case or something) 2. Because naturally the value of Exchange should be equal to the sum of mine and sell combined (because dividends can only ever add up to neatly the cost of an exchange) this means the 1% markup is reasonable. I see about 100btc trading now so that means at most he will give out like 99btc and keep the 1% or 1btc. 3/4 info regarding bitcoin difficulty can be found all over the interwebs if you just google it. You are right about it being a zero sum game but it is hugely different from options. |
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Seriously, what is it you're so butthurt about?
Its obvious. About the fact he failed to open an account when it was 200 bucks. I am pretty butthurt about all the pyramid schemes I didn't get involved in early you're right. How early did you get in? How much btc have you made off your recruits? |
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Seriously, what is it you're so butthurt about?
Less butthurt. More confused as to why this recruitment scheme has such a delusional cult following. Did anyone invented anything better in bitcoin space? Or at least is there anyone else who has the balls to sustain running such business for years while publishing all information? I don't see what is here to be confused about. I'm confused why people like yourself see any value in a company which only source of revenue is recruitment of new gamblers. How can you pretend that this is a legitimate business? It is nothing more than a game you can play with large sums of money where the odds are always unfairly stacked against you which cost 30btc to play (unless you pay some guy to play for you using coinbr) How does a silly game that cost 30btc to play = most legit business in bitcoin space? |
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Seriously, what is it you're so butthurt about?
Less butthurt. More confused as to why this recruitment scheme has such a delusional cult following. |
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Wow the most comprehensive documentation to date and no explanation of why the 30btc fee. It basically just says that you need to have capital which is a joke because only a year ago it required 200 dollars capital and it now requires 30 grand.. But wait, if you recruit some more idiots like yourself you can recoup some of that ridiculous fee and make mr popescu rich. Everyone wins! Unless your anyone besides mircea popescu. |
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Damn I wish I didn't view that picture of mr p at a table earlier because then I could see the statement Summary: 1806 BTC total profits over january, 1830 BTC earned from new account registrations. The profits keep coming as long as new people keep joining. Where have I heard this before? Month 4 where 100% profit has come from recruitment of new gamblers. #finance |
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Damn I wish I didn't view that picture of mr p at a table earlier because then I could see the statement |
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13 pages now.. kinda makes me wonder, if the whole thread and jimmothy is part of some kind of "create attention and awareness for MPEx" PR stunt?  I honestly made this thread because I was curious what the fuck mpex actually did that made it supposedly worth 1 billion dollars. But your right judging by mpoe pr's post history its pretty obvious when someone told them there is no such thing as bad pr they took it literally. Anyways now that it has been confirmed to be nothing more than a way to move money around without creating any value I think we can let this thread die and the free publicity with it. |
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Absolutely true. What value does MPEX actually create? In one sentence please.
It provides the ability to make some very rich and some much poorer. Along with a bunch of other useless shit nobody uses like futures/trading stocks If I'm wrong please correct me. |
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Off course Check my Solar power unit for one psu with 600w  Lol that pretty much sums it up. You can but don't want to use solar power to power your rigs. You will never achieve the cost efficiency that your electric company can provide. You are looking at something like 10 years ROI which in btc mining terms is several lifetimes. |
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This is all sort of irrelevant because it doesn't matter who is running this scheme. He could be anonymous and it would not be any less of a scam.
Try to be more consistent please  Oh yea I forgot a picture of a bunch of people at a table = proof mr popescu definitely exists.. I love how every time a point is made the mpex beleibers go off on a tangent to avoid the real issue which is not that mr p could run off with his fat stack of cash at any time. The real issue is that mpex is absurdly over-valued and requires the recruitment of idiots/gamblers to supply its revenue. I would love to know what would happen without the 30btc fee and the coinbr referral squad. I doubt it would be profitable because there would be nobody to recruit new cult members. |
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Would you take $130 shipped?
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Does anyone know if mr popescu is even a real person? Has anyone met him in real life and verified identity?
Yes, and yes.Sorry I spoiled the fun. "In the middle with the beard is MPOE-PR." Is mpoe pr the same as mr popescu? Also this pic proves that a group of people sat down together in a room. What a waste of my precious trilemma credits. If mr popescu disappeared today how would you find him? This is all sort of irrelevant because it doesn't matter who is running this scheme. He could be anonymous and it would not be any less of a scam. |
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You're too new to be aware of most of the basic facts of the matter, such as the basic fact that MPEx was here before Asicminer, and is still here (showing gains, apparently?!) as Asicminer is vanishing into thin air (not least because of their own poor management skills). Somehow a steady decrease in dividends equates to showing gains? And being around a whole a year before asicminer makes you a much more mature company. Somehow paying out 5 times ipo in dividends counts as a failure? Its not exactly fair to compare mpex to a real company like asicminer just because you made a few thousand btc from gamblers the past year. Look at the prices of the shares: MPOE has consistently gone up, Asicminer went into a huge bubble and is almost down to its IPO price, losing about 90% off its high. In bitcoinland, lasting one year is significant. Asicminer was not a failure for people who bought at the IPO price, but what about people who bought when the price was above 5 btc per share? Which is a real company? Which one is run by an anonymous internet persona who sometimes deigns to communicate and which is run by a person who states their identity and signs it with a gpg signature to prove it and gives monthly financial reports signed by that same gpg signature? Which has a potential for growth in the future and which is withering away? Just because a few people bought at 4btc/share when AM had a monopoly on the asic market doesn't mean AM is worth any more or less. AM is about to release next gen hardware that will hopefully bring back 10% network hashrate. Potential growth and dividends are huge. Mpex on the other hand is a casino that is getting more and more expensive to join with less and less rich gamblers using the service. Explain to me how this can possibly result in future growth? For mpex to be worth 1 million btc @ 30% apr it would need to increase profit around 50000% compared to last quarters. Simply ridiculous and will never happen. For AM to grow it needs to sell hardware in a market full of people looking for competitive hardware. For mpex to grow it needs a steady stream of new users/gamblers which will bet ~100 times the amount of last years gamblers (10000 times in usd) Also gpg signature doesn't mean shit imo. Does anyone know if mr popescu is even a real person? Has anyone met him in real life and verified identity? I bet mr P could disappear with all the money right now without any problems. Being anonymous is an option in the bitcoin world (albeit a risky option for investors). |
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You are aware that both minersource.net and blackarrow have delivered asics in the past? What makes you think a private company will give you their identities because they have a 2 month delay? You ordered from a company knowing they had not and do not plan on disclosing identities. Besides we all know how little an "identity" does in reality. Take a look at labcoin if you don't believe me.
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Project looks to be going nicely. But something I think many of us are really interested in is the dividends.
Can we get a rough estimate on when we might expect our first dividend?
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