In truth, some of the disclosures from GLBSE securities are better than some developing world stock markets.
But in fact the ones we're discussing aren't in that group, so this'd be a red herring (and yes, ALL GLBSE crud is worse documented than prevailing industry standards for BTC financials). If you are unhappy with the contract or you think the operations do not conform to the contract then contact GLBSE/nefario.
You've been away the past week or so I take it. usagi: Five posts in a row? Simmer down will you. Nobody reads that shit anymore anyway. |
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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. |
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I am betting 10,000 BTC that BS&T will not fail. The bet is simple. I am putting 10,000 BTC of my own stash into an account at BS&T. If it fails I will lose my bet and my BTC, if it does not fail I will just keep on winning.
I will update this thread with the account balance every week so you can see how my bet is going.
All of you fine gentlemen who want to take the other side in this bet:
1) Figure out a way to do it (invest in US treasuries?). How you do it is up to you and is your problem.
2) Start your own damn thread for your bet. How's it going, Ponzi-gang? |
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What would be insane is if this winds up with Nefario getting a scammer tag and GLBSE losing the community's trust.
It's much too late for the later part. The former would in principle be a formality. Nefario (and to the degree it has been aiding and abetting him, GLBSE too) are the largest liability for Bitcoin right now. Noobs join, get scammed by the Global Scam Exchange, then leave. How many intelligent people and how many affluent people have we lost because this eyesore was irresponsibly allowed to continue for so long? Ask yourself this. You discover BTC, you put some money into it, you go "invest it" and then... it's gone. And you try again. And then... it's gone. There are people who have been going through this quarterly cycle since early 2011. What fraction are they of the total people trying out this appalling scamfest that is called GLBSE and thinking they "have tried out Bitcoin"? This association needs to be severed. In fact, it should have been severed long ago. And yes, GLBSE has scammed investors out of more money than pirateat40 did. They just were much better at the long-con. |
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 Here we have it. Welcome to the new scrutinized Foundation users. On top of that, CloudFlare’s CEO Matthew Prince made a weird, glib admission that he decided to start the company only after the Department of Homeland Security gave him a call in 2007 and suggested he take the technology behind Project Honey Pot one step further…
And that makes CloudFlare a whole different story: People who sign up for the service are allowing CloudFlare to monitor, observe and scrutinize all of their site’s traffic, which makes it much easier for intel or law enforcement agencies to collect info on websites and without having to hack or request the logs from each hosting company separately. Wow. Wonder who decided on the choice of hosting. . That is all. |
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There is a possibility someone is wrecking IPO's on purpose. They buy a few shares and purposefully sell below the IPO price to prevent the issuer from raising funds and cause the failure of the IPO.
I wonder if glbse could "lock" trading on an IPO untill a specified time has passed ?
Ideally, that specified time would be in 2020. Combine this with the idea of holding IPO proceeds in escrow and you have an almost safe GLBSE. |
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Would it be ok to make something like this for ARS? Or you will fall into us to claim copyright?  In any case this is the proper way to go about these things. |
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Probably Somaila. That's where all the pirates are anyway.
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To clarify some points for the typically confused:
I. There can never be a "conflict of interest" in this matter. It makes no difference who makes the accusation. All that matters is whether the accusation is factual and has merit. You're probably thinking based on some personal experience in some domestic dispute, but that's largely irrelevant; the reason Mr. Policeman or whatever adult figure dismissed your accusations at that time was that they were based on your own testimony, not that they were improper by "conflict of interest" (a topic one'd be best advised to read up on, anyway).
II. There exists the doctrine of "duty of care", both in common and civil law systems. Read up on that (preferably in a law manual, not on wikipedia). Somebody with power has a duty to act equally to protect all those that need his protection. He can't pick and choose. The discussion here revolves around exactly that; Nefario has acted in some cases but not in all cases. This means he was either wrong to act at all, in which case he should make whole those harmed by his action, or otherwise that he was wrong to not act in the cases where he did not act, in which case he should make whole those harmed by his inaction. Tertium non datur as they say, there is absolutely no alternative here. Either one or the other must be true.
All the rest of the discussion is absolutely irrelevant, but obviously you're more than welcome to carry on with it.
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I.a. On September 10 he blocked the accounts of DMC, on the grounds that gross negligence possibly amounting to fraud on the part of the asset holder was being alleged in forum threads. I.b. Subsequently he refused to release a list of shareholders on the rationale that it'd be a breach of their privacy rights. I.c. He also declared an audit will be held but later refused to release the name of the auditor. I.d. The accounts were later unblocked without any audit being performed, and without any material changes in the alleged facts.
II.a. On September 25 he unlisted all of goat's assets, vaguely alleging some sort of malfeasance which was never either explained or documented --it may or may not have to do with goat's refusal to sell back some illegitimate shares created on GLBSE by an unauthorized entity which nevertheless were legitimized by Nefario's own declaration but which was quashed by the actual legitimate owners of GLBSE. II.b. In contradiction to the claims made with I.b. above, Nefario claims to have issued the list of shareholders to Goat and that all obligations remaining exclude GLBSE, and should be handled between goat and investors alone.
III.a. Starting at least as early as September 10 the assets controlled by Usagi (CPA, NYAN.x, BMF) were being scrutinized publicly on this forum for gross negligence possibly amounting to fraud on the part of the asset holder, in the same manner and to an extent equal or greater to that of I.a. above. III.b. In spite of III.a. Nefario declared Usagi as the head of the ad-hoc commission that was to review GLBSE assets for inclusion in blue/white categories. III.c. In spite of III.a. and contrary to his conduct in I.a. and II above, Nefario failed to lock the assets controlled by Usagi.
For these reasons Nefario should wear the scammer tag unless or until: A. He personally refunds all investors in any and all Usagi funds to the value of their original investment or B. He personally refunds all investors in DMC and TYGR-* to the value of their original investment. tl;dr: You can't have your cake and eat it too, and you can't run away and hide for a couple weeks until people forget. It worked with LIF.x, it worked with the numerous other scams hosted by GLBSE, but it has to end sometime. |
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(3) Generally speaking, it now appears that nearly every asset was either a scam itself (BDT, ZIP.A), or a pass-through into another scam (NCKRAZZE,TYGRR.BOND-P). The only good assets seem to be TEEK.B, COGNITIVE, NASTY, and OBSI.HRPT
I lol'ed. Me too - not sure in which universe OBSI.HRPT have a 5-day average of over 0.09. Maybe it's insured up to that value. |
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It is clear now that the bitcoin financial sector is premature/undeveloped, and I feel both embarrassed and disgusted by the massive scamming going on and depressed at the fallout that innocent people have had to suffer.
You were on the wrong platform. It looks to me as if everyone and their dog was just running around scamming people out of "management fees" for their "investment expertise" without anyone actually creating anything worth investing in, so that all these scammers simply ran around investing in each other's scams.
 Maybe someday when their are hundreds of real businesses being traded there will be room for some kind of "fund management" company but until then maybe the whole economy would be better off if all the "experts" would simply debate in public the merits and demerits of the one or two actual businesses available to invest in and reach a consensus between them as to whether any are actually worth investing in and if so which.
This is very true. Forum retards belong on the forum not pretending they're financiers on "exchanges". |
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Should we wait for them to do so ?
Yes. Take their money supply away by sticking with something they can't debase and wait for them to come crawling. |
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would also be wise to email all customers.
I lolled. |
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I must say I did enjoy reading the prevarications of a certain "administrative clerk" with delusions of grandeur. "Cartel", eh?
Kids these days...
9/30/12
Effective immediately,
I am defaulting on my BDK.BND debt. Beyond this, I will no longer be honoring the contract in the form I originally laid out. I previously intended to empty my non-legal wife's (we personally consider ourselves married, but legally, we are individual and thus have rights we'd otherwise forfeit) 401(k). I obviously did not want to do this, but it became clear it was necessary as I was looking at $200-250/wk interest on this single debt while having been financially raped by loans to various members of the community (No, Pirate is not the primary cause of my distress. Please don't turn this into some Pirate discussion.). After weeks of tha stress, on top of previous stress... heated arguments... -- this is no longer an option. I do not think her response to my actions is unreasonable (she's already effectively lost tens of thousands due to my actions), but this clearly affects my ability to repay within what I'd consider a reasonable time-frame. I currently have a negative net worth excluding my residence which would be protected under a personal bankruptcy filing which I will not pursue unless a suit is formally filed against me. I'd advise against taking action on potential cynicism, and suggest you give me at least a couple months to confirm I am indeed making a decent effort toward repaying what I owe.
I am unable to pay interest on my current BDK.BND debt. It's impossible for me to keep up with that, living expenses, and interest on other debts which are small enough where I can close them - and I apologize, in a sense, for the unfairness of how this is being handled. BDK.BND-holders, who I've always wanted most protected from risk, are now getting the shaft. I cannot subject my wife to more loss, and will be forcing BDK.BND holders to suffer as a result of my unwillingness to liquidate my residence. I apologize for the trust I've violated, the business mismanagement, and this default as a result. If I were unable to compartmentalize, I would be unable to write this. I am truly and deeply sorry. I also apologize for not having the emotional fortitude to prevent what I'm also about to announce: I will not be communicating much, if at all. I will likely not read anything written in this thread beyond this post for months. I just can't handle it when there are many things I need to do to get the situation in order. I will not be responding to phone calls, Skype messages, nor responding to emails. I will not be clarifying what I've written, and will not be responding to questions. I just can't right now, and understand how bad that looks and is. Again, I apologize. I will post an impersonal message each time I make a dividend payment.
All BTC I currently own will go toward BDK.BND payments. These will come in the form of irregular, unannounced dividends -- there will no longer be .001BTC/bond dividends each week. I will never buy BDK.BND back, and that section of the contract can be considered practically void. I can do nothing but assure everyone that I have no intent to make any purchases of BDK.BND units, and will allow them to trade freely on GLBSE as people value them given I have absolutely no information on when, and in what amount, these bonds will be repaid. However, I promise I will repay the debt as it stands, as I'm able. So long as GLBSE is active, I am alive, and earning income, I will continue to make dividend payments on BDK.BND units as a gesture of goodwill (and appreciation for not suing me into bankruptcy) beyond the .101BTC "hard debt" I currently consider as existing. Basically - I will be making larger, more rapid payments until dividends beyond this date reach .101BTC/bond. After that time, I will continue paying irregular dividends in a way which is appropriate for the gratitude I owe, and possible for the amount I need to live. I am unable to provide a repayment schedule or dividend schedule. Essentially - I'm giving what I can without forcing an unreasonable amount of loss (beyond what I've currently caused) onto my non-legal wife, and I naively hope everyone trusts me to be doing exactly what I'm saying I will. I'll provide instructions in my will to give an update (with death certificate) on this forum in the event of my death. Though things have been pretty shit lately, I am not at all suicidal -- just gave the info in that last sentence as an FYI.
-Ben
(Additionally... Someone may remember I recently posted assets/liabilities on my side. This included many of my non-legal wife's assets. The CU/bank assets have been largely emptied to repay CD-holders and my mother, who fronted us money to purchase this house [I've since defaulted on that loan, too, after a partial repayment so I could repay CD-holders]. There is still one outstanding CD-holder who has been excessively generous in providing me time to repay.)
(Many individuals have my home address [NOT the Spring Arbor address. That is a family member's house. DO NOT release that address.]. I would prefer my home address not be released publicly, but would also not consider public release of that information unwarranted. If you are coming for a visit, I would like at least a voice message a day or two prior. Harm toward family's off-limits, and I would physically object to bodily harm which may result in my stay in a hospital, as that'd further impede repayment. I am armed, so please keep ideas of physical violence in check.)
Hey, whudda thunk it.... |
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Does anyone besides the asset issuers have anything left (that's trading still) in their portfolio?
Maybe they're afraid to say so in case Nefario is watching and locks those assets. |
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9/30/12
Effective immediately,
I am defaulting on my BDK.BND debt. Beyond this, I will no longer be honoring the contract in the form I originally laid out. I previously intended to empty my non-legal wife's (we personally consider ourselves married, but legally, we are individual and thus have rights we'd otherwise forfeit) 401(k). I obviously did not want to do this, but it became clear it was necessary as I was looking at $200-250/wk interest on this single debt while having been financially raped by loans to various members of the community (No, Pirate is not the primary cause of my distress. Please don't turn this into some Pirate discussion.). After weeks of tha stress, on top of previous stress... heated arguments... -- this is no longer an option. I do not think her response to my actions is unreasonable (she's already effectively lost tens of thousands due to my actions), but this clearly affects my ability to repay within what I'd consider a reasonable time-frame. I currently have a negative net worth excluding my residence which would be protected under a personal bankruptcy filing which I will not pursue unless a suit is formally filed against me. I'd advise against taking action on potential cynicism, and suggest you give me at least a couple months to confirm I am indeed making a decent effort toward repaying what I owe.
I am unable to pay interest on my current BDK.BND debt. It's impossible for me to keep up with that, living expenses, and interest on other debts which are small enough where I can close them - and I apologize, in a sense, for the unfairness of how this is being handled. BDK.BND-holders, who I've always wanted most protected from risk, are now getting the shaft. I cannot subject my wife to more loss, and will be forcing BDK.BND holders to suffer as a result of my unwillingness to liquidate my residence. I apologize for the trust I've violated, the business mismanagement, and this default as a result. If I were unable to compartmentalize, I would be unable to write this. I am truly and deeply sorry. I also apologize for not having the emotional fortitude to prevent what I'm also about to announce: I will not be communicating much, if at all. I will likely not read anything written in this thread beyond this post for months. I just can't handle it when there are many things I need to do to get the situation in order. I will not be responding to phone calls, Skype messages, nor responding to emails. I will not be clarifying what I've written, and will not be responding to questions. I just can't right now, and understand how bad that looks and is. Again, I apologize. I will post an impersonal message each time I make a dividend payment.
All BTC I currently own will go toward BDK.BND payments. These will come in the form of irregular, unannounced dividends -- there will no longer be .001BTC/bond dividends each week. I will never buy BDK.BND back, and that section of the contract can be considered practically void. I can do nothing but assure everyone that I have no intent to make any purchases of BDK.BND units, and will allow them to trade freely on GLBSE as people value them given I have absolutely no information on when, and in what amount, these bonds will be repaid. However, I promise I will repay the debt as it stands, as I'm able. So long as GLBSE is active, I am alive, and earning income, I will continue to make dividend payments on BDK.BND units as a gesture of goodwill (and appreciation for not suing me into bankruptcy) beyond the .101BTC "hard debt" I currently consider as existing. Basically - I will be making larger, more rapid payments until dividends beyond this date reach .101BTC/bond. After that time, I will continue paying irregular dividends in a way which is appropriate for the gratitude I owe, and possible for the amount I need to live. I am unable to provide a repayment schedule or dividend schedule. Essentially - I'm giving what I can without forcing an unreasonable amount of loss (beyond what I've currently caused) onto my non-legal wife, and I naively hope everyone trusts me to be doing exactly what I'm saying I will. I'll provide instructions in my will to give an update (with death certificate) on this forum in the event of my death. Though things have been pretty shit lately, I am not at all suicidal -- just gave the info in that last sentence as an FYI.
-Ben
(Additionally... Someone may remember I recently posted assets/liabilities on my side. This included many of my non-legal wife's assets. The CU/bank assets have been largely emptied to repay CD-holders and my mother, who fronted us money to purchase this house [I've since defaulted on that loan, too, after a partial repayment so I could repay CD-holders]. There is still one outstanding CD-holder who has been excessively generous in providing me time to repay.)
(Many individuals have my home address [NOT the Spring Arbor address. That is a family member's house. DO NOT release that address.]. I would prefer my home address not be released publicly, but would also not consider public release of that information unwarranted. If you are coming for a visit, I would like at least a voice message a day or two prior. Harm toward family's off-limits, and I would physically object to bodily harm which may result in my stay in a hospital, as that'd further impede repayment. I am armed, so please keep ideas of physical violence in check.)
Did I tell you you have no business pretending like you're in BTC finance? You need to listen more. |
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Actually amusingly enough at some point right after the launch for the S.DICE passthrough the operator couldn't connect to GLBSE or w/e and the price there shot up to 0.007 even though it was pretty clear that in no event would anything over maybe .004 or so make any sense whatsoever.
In short GLBSE is rather poor at pricing things.
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