Every single person CPA invested money with defaulted or lost huge amounts
This sums it up rather well. Who chose to invest CPA's money with all of those people? Usagi did. Yet Usagi claims no personal responsibility for managing CPA poorly. Nevertheless, this is precisely what WS fund managers think/claim/do. It's a sickness, apparently any gender-confused undereducated and neglected youth catches it by merely pretending to be dabbling in the same thing. |
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Just to be absolutely clear -- there is nothing that can happen in the Bitcoiniverse which would cause me to default on BDK.BND. There is no need for investors to worry.
Nothing in the Bitcoiniverse can happen to make him default on BDK.BND. Guess an economy needs more than pretty words and blind trust to work. This needs to be preserved. Also this Kluge: You, personally, are an idiot. Thinking oh herp derp, I r bankr nao --that's idiocy. Going around now acting like you're some sort of noteworthy character doing things, wheeling and dealing and so forth is risible. You are simply an idiot that helped a bunch of lambs to the slaughter.
Oh, Mr. Citizen Banker-Dentist thinks being called an idiot in a public forum for having been an idiot is unfair and unwarranted? Bully for you. Oh, your mommy always told you you're great and you fart runny rose water? Bully for her. Nobody else cares. What you are is a guy that helped a bunch of lambs to the slaughter.
So drop the pretense, get on your hands and knees and face the music. Oh, he can't take the "pure negativity". Why did you associate with a ponzi if you knew you couldn't take the negativity? Why did you pretend yourself a banker when you're nothing of the sort? What do you think happens to people that play pretend?
Go ahead, whine about how openness is a bad thing because idiots get to be called out and "it's just unfair". So very impressive. And when you're done with that, we can laugh at you over the kronos fiasco, too.
Un-fucking-believable, the nerve of you idiots. "Limited amount of patience", the gall.
And yes, I claim dibs on having been the first one to tell him this. As I was the first one to say Pirate's a ponzi. Curious about the effect? So.... Here is a short string of level-headed, professional posts I made this morning in Skype not long after rising from bed:
[5:05:46 AM] Ben Malec: Ah.... Okay. Finally coming out of denial. I'm totally fucked.
[5:05:59 AM] Ben Malec: Totally and utterly fucked.
[5:06:48 AM] Ben Malec: Completely, totally, utterly fucked.
[5:06:52 AM] Ben Malec: Fuck.
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Everyone is biased in some way or another, and to think otherwise is naive and foolish. You can't get rid of bias anymore than you can get rid of emotion or opinion. Best way to deal with bias is recognize your bias so you can adjust your actions to compensate for it. Would you rather him lie and say he isn't? None of us have ever claimed to be unbiased, we do try our best to not let it interfere with our duties.
Absolutely true. As for the OP, Nefario isn't responsible for the actions of others. If Usagi/Diablo is a scammer, you don't blame the middleman unless you can prove he knowingly aided and abetted it. Innocent until proven guilty and all that.
Once Nefario used his position of authority to act in a certain way, all the people harmed by his failure to act in the same way in the same circumstances had a legitimate claim against him. This isn't me making shit up, this is 500 years of established equitable practice at common law and possibly more than 500 years in the civil system. You might not know about this, even if it's basic and well known in the legal profession; it's obscure from a public PoV, and I guess nobody told you to go to law school first if you want to be a mod on some forum. However, you must know socially someone who actually is a solicitor/barrister/etc. Ask them. |
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Some people SHOULD be protected, otherwise attention whores will just make hell for the legitimate operators of central services.
The only problem is this protection should be both flexible and sensible, which obviously in practice is a nightmare to achieve (not to mention the issue of inertia, takes a while for any arbiter to catch up with all the goings on).
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Make a video in which you tell people how great Trilema is. The catch is that you'll have to say it in Romanian. Doesn't have to be perfect, but make a good effort.
Sample phrases: Trilema este cel mai tare blog din lume. Eu citesc zilnic Trilema. Ati citit Trilema astazi? Nu se poate trai fara Trilema!
I imagine it should be hysterical. A one-two minute thing would be perfect. Cheers.
This sounds like fun to me! Do you have any examples as to how this would be pronounced or the inflection i should give each word? Seems like it'd be easy for me to pick it up as im a native spanish speaker and this looks like a romance language. It is a romance language, but IMO you figuring out how to read them would be part of the fun. |
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This looks like an abortion and the values usagi is using dont represent true market value in most cases.
Assets need to be moved out of C and C shut down before B is. Only then can you equally disburse assets.
Actually, this is wrong. A needs to be liquidated first, all the investors fully repaid. Then B can be the new senior tranche, it can be liquidated and investors fully repaid. That leaves C (prolly bankrupt). Liquidation can't start up the CDO chain. The only way to unwind these is from the top tranche down. |
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Question: when is someone going to invent a be-all, end-all service that is totally full of awesome and win, and then decide to force all users to use a proper 2-factor authentication system?
This has happened, except it forces users to use gpg not worthless 2fa. And the users complain about the ease-of-use, customer service, and personality of exchange manager.
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+1 You are right, is unfair, pirate is a valued members of this community too   Haha, only funny. |
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You missed aesthetics, ease-of-use, customer service, and personality of exchange manager.
That's ok, you missed the exchange manager entirely. Again, it's not malice, it's just stupidity and ignorant conceit.
In some positions stupidity & ignorant conceit = malice pretty much. |
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I think having a piece of satoshidice is pretty cool, being they are currently the most popular addresses, etc. Big part of bitcoin culture.
I think ASICMINER is an interesting gamble. I like the way Flying Dutchman Bitcoin Fund is run.
BTC-Mining/Namjies's fund is prolly worth the mention along with the Dutchman. They yield 5% / month
Actually there's no fixed limit on what they yield, it's an auction-based model (sort of like how Treasuries are sold). That aside, the yield has sort of stuck around 5%. then the price should be rising in relation to the lost opportunity cost of just holding those shares during that period.
In practice the opposite is more likely I'd think. We may be talking at cross-purposes. Consider ASICMINER as something which starts with value X (IPO price) then at some future date will suddenly become worth Y. The point at which it becomes worth Y is when the chips begin mining. Now for the purpose of evaluating Y you have to look at the different possible outcomes and the chance of each then calculate the EV at that point (which includes the chance of zero value due to the chips never working). For ASICMINER to be a viable investment at all, that value Y (the EV of all outcomes at some future point) has to be higher than X. If you believe it lower than X then obviously the share only has value if you short it. My point about value rising was on the assumption that Y is higher than X (that's my assessment and we'll NEVER know if I was right or not - as we'll only know what actually happens, not what the likelihood of that particular outcome actually was). If we take as a given that Y is higher than X then my argument is that the value of the share should gradually rise from X to Y until the instant when the outcome is known when it'll either drop or rise based on the actual results. The alternative argument is that the value stays at X until the outcome is known then changes all at once. My argument in essence relies on two points: 1. Money not making a profit is an opportunity cost. I can't see any valid argument against this other than if the contention is that there's no way to make profit from money. So if the value of the share doesn't rise then there's zero incentive to buy it at the start rather than use your money to make profit and buy into it later. 2. If it has an expected value Y in the future then its value to you NOW is Y less the profit you could reasonably otherwise make from employing your funds elsewhere in the meantime (to be pedantic that also has to be adjusted to account for your tolerance of risk/variance). Irrespective of which pricing model you use, as time passes and more information becomes available, you should become better able to estimate what Y is (and adjust your pricing accordingly). My argument also relied on the fact that so far no news has emerged about ASIC or BFL or any other competitor that changes anything significantly. BFL have upped their specs as expected - but the key issue is who delivers first. Your argument hinges on the (unproven) theory that market participants act rationally. The scenario I envisage goes something like this: guy invests, waits two weeks or two hours, nothing happens, gets bored, divests. Seems to be borne by the facts so far. |
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None. In fact, I don't even currently own any asset or hold a balance at GLBSE. I do have an account, but it hasn't been used for at least 2 months except to view some information that I've needed for other investigations.
Fair enough. |
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Make a video in which you tell people how great Trilema is. The catch is that you'll have to say it in Romanian. Doesn't have to be perfect, but make a good effort.
Sample phrases: Trilema este cel mai tare blog din lume. Eu citesc zilnic Trilema. Ati citit Trilema astazi? Nu se poate trai fara Trilema!
I imagine it should be hysterical. A one-two minute thing would be perfect. Cheers.
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Would have been the truly lulzy thing to do.
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I think having a piece of satoshidice is pretty cool, being they are currently the most popular addresses, etc. Big part of bitcoin culture.
I think ASICMINER is an interesting gamble. I like the way Flying Dutchman Bitcoin Fund is run.
BTC-Mining/Namjies's fund is prolly worth the mention along with the Dutchman. They yield 5% / month
Actually there's no fixed limit on what they yield, it's an auction-based model (sort of like how Treasuries are sold). That aside, the yield has sort of stuck around 5%. then the price should be rising in relation to the lost opportunity cost of just holding those shares during that period.
In practice the opposite is more likely I'd think. |
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I suppose you could argue that making GLBSE look bad there could be some industry spillover that makes her exchange look bad. It seems an odd thing to be concerned about though.
The entire point is that the retardedness oozing out of GLBBQ is giving BTC finance a black eye, especially due to the irrational but widely held belief that the two actually have something to do with each other. |
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I appreciate all the kind things people have said. I don't have time to respond to all but I wanted to share some of them and thank you. I removed the names from the PMs to keep your privacy (unless you're OK with me publishing them, then let me know.) It is commendable that this particular manager seems to be taking responsibility, kudos on that.
Thanks for your efforts and for being one of the few stand up guys in a den of leeches and thieves. Please let me know if you find a better environment and take care.
I would like to thank you for the professional manner you have conducted business here.
It literally makes me sick to my stomach to think of the losses you must be facing due to fraud and yet you still put your shareholders first. Like I mentioned, it would be a pleasure to do business with you again within a more mature, trustworthy trading environment.
Sorry to hear your fund was closing. The fact you are closing speaks to the responsibility with which you've managed our money. You've made me profits overall: thanks for running a great fund. Unfortunately, it looks like there just aren't enough legitimate investment opportunities on GLBSE right now to sustain a fund like you ran.
I was truly sad to hear about the fund closing down, and yet much more disappointed to hear about the number of assets running below common standards. I've only viewed your conduct holding to a high standard of professionalism, you truly know how to make a name for yourself through your actions and practices.
Better luck next time. |
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Nefario isn't a scammer. He's just made some poor decisions for GLBSE from a customer relations standpoint. You can solve this by creating competition.
What, if any, is your ownership stake in GLBSE? |
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This'll be closing tomorrow if anyone hasn't gotten their shares yet.
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.6% monthly yield is equivalent to approximately 7.45% APR, I believe. If that holds, that's quite a good return on an investment that probably won't depreciate as quickly as mining equipment will.
Once the owner blocks sell there's probably going to be some upward movement of shares. That is still something like 23000 btc away. There's a ~9% space between 34 and 37 tho. But yes, it's not going to happen tomorrow. Investment with a one day attention span is done for anyway, one would hope. |
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It's the principal here.
You use "principal" for principle and smickles uses "principle" for principal? What are you, twins? |
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