I have complete the GLBSE AML forms to receive the gigamining coins back.

What, no group picture with shoes on our heads?

That ain't acceptable to me.  I never agreed to give that kind of information.

https://i.imgur.com/CiDfd.png

I would post the names if I thought getting the password database was likely to help. But Nefario almost certainly changed the passwords.

on GLBSE you can log in and put email and payout address....and give up your identity.

To comply with money laundering regulations we must ask you to submit documents for proof of your address and identity.

1.  Please provide a clear picture of your photo ID. For France, Germany, Spain, and English speaking countries ID cards, Passports and drivers licences are accepted, for everywhere else only passports are accepted.

2.  Please provide a clear picture of you, holding a piece of paper with your GLBSE username and the date written on it.

3.  Please provide a clear(unaltered) picture of proof of address. Tax statements or utility bills are accepted. This must clearly show your name (same as that on your ID) and address, it must also be dated within the last 3 months.

Not accepted are bank statements or bills issued electronically

Nefario encrypted his entire password database with a shared key using Shamir's secret sharing. 4 out of the 5 shareholders Nefario selected would need to agree in order to access the database at all. There aren't enough people in agreement.

I doubt the contingency plan which would have allowed shareholders to access the database still works. The plan allowed shareholders to get passwords (to the server and maybe the off-site backup service), but Nefario changed his passwords if he has any sense whatsoever. And to even try this I'd need to convince one of Nefario's two strongest supporters among the shareholders.

Given that things have schismed this badly, I don't think it's inappropriate to ask just who these supporters are.

I think we should know who all the GLBSE officers are, and I think that we need to hold every one of them fully responsible for our losses.

If GLBSE were still a whole entity, they could reasonably hide behind it, but the fact is that GLBSE the entity is broken.


A few are listed here, though the data is old.  Can anyone tell if this list is complete and accurate?

Also I'm confused about the distinction and relationship between GLBSE and BitcoinGlobal.

I tried to remove him as CEO, but there wasn't enough shareholder support. 5-6 people supported removing him against three (including Nefario) who didn't, but our side didn't have enough shares for a motion. Three large shareholders weren't at the meeting, so it was difficult to get the 51% required.

Later on in the meeting, Nefario somehow managed to convince 1-2 of the people who had supported removing Nefario, which is how he was able to pass a motion to order me to give him the treasury funds. So I doubt a motion to remove Nefario is possible now even if the absent shareholders voted.

It doesn't matter anyway, since Nefario said that he would ignore the shareholders and shut down GLBSE. And shutting down GLBSE is against the bylaws, so he needs a 66% vote. He didn't even pursue a 50% vote.

What would I do with the money if I kept it? I don't have the user database.

I don't know Nefario's plan.

Seconded.  Having more solid data available and transparency in general as the process moves forward would go a long way towards fixing this situation in the least painful way possible for all involved.

I'd say I'd guess he doesn't want to give the claim codes or database because he has fake ipo's and was running multiple small ponzi schemes through glbse.

EDIT: I had to change "I'd say" to "I'd guess" because k3t3r would go on a 10 post rant about how I am a liar with no proof and then when I tell him "I'd say" means I am guessing per the definition of the phrase he'd think I was admitting to jumping to my own conclusions without evidence... so just for the record in case k3t3r gets freaked out, I have no evidence of this, these are just my opinions and thoughts.

At this point, Nefario should make a public statement on the status or start paying out deposit funds REGARDLESS if CHM or Theymos sent him what looks to be 9% of the total funds on deposit. 

He could try and play that game with Goat but this is too far.  If this doesn't happen very soon then we should conclude that either he is keeping them or they have been seized. 

I know people are upset and don't like this answer but in the end, we need to root out all the scammy activities in Bitcoin and this forum if we want to move forward and create an environment where real business interests can prosper.

The motion was:


So I sent CHM only the amount of BTC designated as user funds. I still hold the operating funds.

on a side note, i just wanted to quote Nefario:

I have as much info as anyone else. Ive also got coins stuck there too and the glbse politics is slowing things down considerably.

Pretty hard to put a deadline on it. Besides if a deadline passes people get even more upset.

Better to underpromise and over deliver 

Yeah. According to my call with Nefario last night, the process should be started by now.

Settle down peeps.

A paper wallet has been generated and all outstanding funds should be going there soon. Its not an easy process to wind down such a large company like GLBSE as you can imagine. Nefario is still in contact with everyone and untill he refuses to communicate via secure channels things are still in motion, albeit slowly.

I feel sad that in all likelihood any visible bitcoin company is going to face the same fate as GLBSE and its not really nefario you should be angry about.

Why do you break so many laws, noagendamarket? That's not very nice.