Out of curiosity, how involved is MP in the asset creation process?

Hey, MP, I would be willing to work for bitcoin as your PR person. I would not scare away potential investors by calling them names. How about it?

There are going to be a lot of small entities who are about to get flamed to death and accused of being scammers just because they aren't in the position to immediately return everyones emails, respond to the forum and generally handle this collapse with panache. I wouldn't be surprised if a lot of people just give up and walk away from their asset holders. Especially if there is a run on assets on small 'companies' that didn't expect it.

Wow. Who saw this coming? Think we will get all of our BTC back?

Anonim 12/09/01(Sat)16:58 No. 16970
http://polimedia.us/dtng/c/src/134654389322.png
Sep 02 02:59:37 <mircea_popescu> MrTiggr do you have an article on the global scam exchange yet ? you can use this http://polimedia.us/dtng/c/src/134654389322.png

Heh, I had seen that thread but somehow hadn't seen that post.

That makes a good point about how Pirate had a fantastic trust history in the WoT.  So if you look at the types of ratings given they include a bunch of PayPal transactions.  So if you were to do a PayPal transaction with him you probably would have been fine.  Now loaning money to him, or depositing it for impossible gains?   Well, the WoT trust history doesn't replace using your head.

wow...i read that thread and what i thought wot and otc are is a little different.   as much as people like to see that you are rated i thought there was way more accountability and was a great way to tell if someone is trustworthy.

im not bashing the system or anything but it really doesnt mean anything in the big scheme of things huh?

 the more i thought about raising my rating today, the more i thought that buying items from others or lending btc instead of borrowing is probably the better route.

  still a little disappointed that what i assumed was a great way to determine if someone is going to scam you or not,  or a great way to show im trustworthy and get a loan  really doesnt hold the value i thought it did.

  scammers are going to scam regardless and my question about buying a rating was basically confirmed.

  i know as of right now there is no better system  but just shocked so many people put so much faith and emphasis on having a good rating.  im going to work on raising my rating anyway but just a little bummed out it can easily be faked or bought.

  thanks again for the replies

MatthewH3 - Again here you are giving us the inside scoop???   Also his usename is Nefario.    Also what do you mean by "I think Nafario has contacted all major shareholders and won a motion to stay CEO as well".  It is so interesting you have all this info but the person whole should be making official statements is no where to be found?  

Few people used The Armory because the majority of users could obtain weapons cheaper, more conveniently and legally elsewhere.  Delivery is the weak point for illegal goods which are physical - it's where the illegal activity is most vulnerable.  Bitcoin is obviously attractive for laundering the proceeds of those illegal activities, though.

With child porn, you have a product which can be delivered digitally - the weak link in the chain is payment.  When you can anonymise both payment and delivery, you lessen the risk of detection.

Just gather some private investment and dont allow public trading of the shares. Thats how the company that runs glbse itself functions.

Can you, or one of the shareholders, clarify something for the rest of us?

"Risks jail time for funding terrorism, money laundering, etc" could mean that in the process of looking to legitimise GBLSE (and the fact that Nefario has openly posted that intention here implies that he knew GBLSE was not operating legitimately), his lawyer has become aware of how GBLSE was operating and said "holy fuck, close that shit down right now because you're violating AML/CTF laws all over the place and if the authorities find out what you've been doing you could go to jail - and make sure you get user information so that if this blows up at a later date you've covered your ass a bit".

Another option is that the authorities have become aware of GBLSE's activities and directed him to shut down GBLSE or face prosecution.

It's not clear from what's been posted by those who've had contact with Nefario whether the authorities have anything to do with this decision or whether it's a pre-emptive move which came about because when he finally consulted a lawyer about GBLSE, the reality of what he was doing and the risks he was taking finally sunk in for Nefario.  Can you shed any light at all on this?

I think that many people on here are actively seeking illegal investments rather than believing that the schemes offered here are in any way legitimate.  Perhaps they believe that there's less risk of being caught if their illegal activity takes place online or perhaps they don't have the real world connections to participate in high return illegal activity, but people were perfectly happy to keep throwing BTC at pirate when it was believed he was using them to launder money for unsavoury clients.  I have no doubt that if someone offered shares in a child porn distribution ring or a cocaine cartel on here there'd be users scrambling to get in on the action.

Not enough: money, brains, business acumen, future revenue, etc. Not doable at all with the current executive team and the current board of directors.

I believe US Government might recognize Japan Yen is a currency, while US Goverment does not accept it as payment of taxes.

I also believe, that The Bitcoin Foundation is going to make some kind of a definition of what bitcoin is and that definition is going to be embraced by dozens of most prominent bitcoin businesses making that definition pretty hard to beat. If there is ever going to be lawsuits about these issues, you could bet that goverment is going to use that definition as an argument in the lawsuit if that definition suits their purposes. Now anybody could guess whether Bitcoin Foundation is going to define bitcoins as a currency or "play money" in their mission trying to promote bitcoins to mainstream usage as a more modern currency to replace fiat money.

Who is in your counsel and what credentials do they hold? What measures do you have and will have in place to prevent an immediate seizure/closure prior to you fighting your arguments in court?

Heh this is basically the same argument the Galactic Nexus Uberplan (GNU) folk favour when deploying Martian BotCoin and similar cryptocurrencies (including the Hacker nation's national currency, Bitcoin, from which the Martians derived the technology) on backwards worlds such as the planet known as Earth during such planets' pre-Milieu transition period.

-MarkM-

Thanks for the Great info, I'll use it if I ever have to defend myself.  

Interestingly enough, I was researching some companies in the Lansing area earlier this week, and came across one with an address very, very similar to this one, which purports to be a legit company doing business with the automotive industry. The hook is that the president of the company is supposedly named "Satoshi Nakamoto"!

One wonders if perhaps Perp Lambert has branched out into a much larger scale of scam?

I will be taking a field trip for more details soon. I would love to bring a sense of justice to his other scams.

Oct 06 20:12:29 <PeterLambert>   bitvps
Oct 06 20:12:31 <rg>   for the next 2 weeks
Oct 06 20:12:38 <mircea_popescu>   rg you noticed i raised it ?
Oct 06 20:12:44 <mircea_popescu>   PeterLambert ?!
Oct 06 20:12:44 <rg>   no i didn't
Oct 06 20:12:48 <PeterLambert>   yes?
Oct 06 20:12:52 <rg>   it was already a rip off
Oct 06 20:12:54 <rg>   you raised it more?
Oct 06 20:12:57 <mircea_popescu>   quite the cheek. how dare you show your face here ?
Oct 06 20:13:01 <mircea_popescu>   rf 30.
Oct 06 20:13:12 <rg>   lol what a scam
Oct 06 20:13:18 <PeterLambert>   I have a face
Oct 06 20:13:30 <mircea_popescu>   PeterLambert you also have a bunch of defrauded investors.
Oct 06 20:13:59 <PeterLambert>   ? maybe they can be included in the glbse shutdown
Oct 06 20:14:06 <mircea_popescu>   maybe you can get fucked.
Oct 06 20:14:16 <PeterLambert>   I never did get any communicatio from nefario
Oct 06 20:14:24 <mircea_popescu>   what is this, you think you run with everyone;'s money, come back a year later all is forgotten ?
Oct 06 20:14:27 <mircea_popescu>   all is not forgotten.
Oct 06 20:15:05 <rg>   what asset was his
Oct 06 20:15:06 <rg>   and what happened
Oct 06 20:15:11 <rg>   i was around a year ago and i dont know who he is
Oct 06 20:15:12 <mircea_popescu>   LIF.x
Oct 06 20:15:19 <mircea_popescu>   back in 2011. first glbse scammer pretty much
Oct 06 20:15:27 <mircea_popescu>   he started the trend.
Oct 06 20:15:40 <assbot>   [MPEX] [S.MPOE] 12687 @ 0.00037269 = 4.7283 BTC

Oct 06 20:15:41 <assbot>   [MPEX] [S.MPOE] 413 @ 0.00037545 = 0.1551 BTC

Oct 06 20:15:49 <PeterLambert>   no, I think that title goes to cuddlefish
Oct 06 20:16:14 <rg>   peterlambert have you come to repay your share holders?
Oct 06 20:16:35 <PeterLambert>   Usagi did not learn from my mistakes
Oct 06 20:16:40 <mircea_popescu>   ;;rate PeterLambert -3 the original GLBBQ scammer. Made a bunch of "funds", LIF.*, made all sorts of claims as to their investment policies, ran off.
Oct 06 20:16:41 <gribble>   Error: User doesn't exist in the Rating or GPG databases. User must be GPG-registered to receive ratings.
Oct 06 20:16:49 <PeterLambert>   I have no idea who they are
Oct 06 20:16:54 <mircea_popescu>   gtfo your mistakes.
Oct 06 20:17:08 <mircea_popescu>   i can't believe the nerve of you idiots.
Oct 06 20:17:18 <mircea_popescu>   btc is not for scammers, go back to nigeria or w.e you sprout from.
Oct 06 20:17:21 <rg>   if theres one thing i hate more than curly haired romanians
Oct 06 20:17:24 <rg>   its scammers
Oct 06 20:17:32 <rg>   :-D
Oct 06 20:17:32 <PeterLambert>   so most of the money I lost went to shakaru
Oct 06 20:17:47 <mircea_popescu>   PeterLambert nobody cares.
Oct 06 20:18:00 <PeterLambert>   oh, well nevermind then
Oct 06 20:19:14 <mircea_popescu>   rg https://bitcointalk.org/index.php?topic=35775.0 there you have it, in all its splendour
Oct 06 20:19:25 <mircea_popescu>   asshat even deleted his posts, deleted his site, complete and utter scammer.
Oct 06 20:20:18 <PeterLambert>   but no scammer tag?
Oct 06 20:21:14 <mircea_popescu>   apparently you haven't learned from usagi's mistakes either.
Oct 06 20:22:00 <rg>   nice peter
Oct 06 20:22:04 <rg>   how many btc did you steal
Oct 06 20:22:06 <rg>   1200 ?
Oct 06 20:22:21 <rg>   ;;calc 1200 * [ticker --last]
Oct 06 20:22:21 <gribble>   15297.564
Oct 06 20:22:25 <rg>   wow
Oct 06 20:22:30 <rg>   you'd go prison for hat
Oct 06 20:22:31 <rg>   that*
Oct 06 20:22:36 <mircea_popescu>   rg it's not even that. it's the eggregiousness of it. he was like, writing extensively about the various stocks and w/e, analuysing them, bla bla.
Oct 06 20:22:43 <mircea_popescu>   then one day... o sorry, "they were all scams".
Oct 06 20:22:48 <rg>   lol
Oct 06 20:22:56 <rg>   hey we're making 30%/mo on our deposits!
Oct 06 20:22:59 <rg>   oh btw
Oct 06 20:23:02 <rg>   i cant pay you any of it.
Oct 06 20:23:02 <mircea_popescu>   i mean, half the people investing at  that time didn't even do any dd, just went by his bs.
Oct 06 20:23:10 <rg>   that's sad
Oct 06 20:23:16 <rg>   one thing that's good about glbse closing is..
Oct 06 20:23:24 <rg>   unexperienced investors wont be able to make uninfomed decisions

like Butterfly Labs does.

I don't know exactly Open Transactions, but if it requires something like signing documents with PGP, then it is both
1) quite scary the first time you see it
2) easy, after you spend 5 minutes figuring it out with a good howto.

Maybe, having money to recover is just what it takes to push people to make that little mental effort, and move in the realm of serious security at once; so, a great opportunity