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8001  Economy / Securities / Re: TYGRR.* assets on GLBSE delisted. on: September 26, 2012, 01:09:22 PM

what i dont like about this is:
 - whoever sees that message first (this includes bond issuer) has the opportunity to sell all at a (relative) high price



that's why before publishing such message there usually will be a suspension of trading for half or one day in the traditional exchange.

this could work,

but what stops the issuer to simply say "operation closed" (of course: if he has a buyback clause this wouldnt work, but without it seems to be a good way for easy money)?

I think you are confusing asset risk with exchange risk.  If the asset is legit and the issuer still making payments delisting simply means the asset is removed from the exchange.  Shareholders will buy or sell depending on if they consider holding the asset to be worth the complexity of manual (off exchange) reconciliation.

If the asset is worthless scammer garbage and the asset issuer has no intention on repaying then it doesn't really matter if it remains listed or not.  It seems either you didn't think this through or your objection can be boiled down to "if it is delisted I won't be able to pawn this worthless asset on some sucker".  I don't think it is the job of the exchange to ensure you can sell something you own that is worthless for something.

That being said the way in which GLBSE handled the delisting was completely unprofessional.  No clear reason was given.  No timeline.  No notification to stakeholders.  Just "BLAM" we/I decided so it is gone.  Buisiness is all about taking calculated risks and Nefario actions over the last couple weeks have shown there is significant exchange risk, probably higher than many suspected.

For alternate players in the space NOW would be a good time to put policies in writing.  Black and white.  When/why/how are assets suspended.  when/why/how are assets delisted.  If you are a competitor to GLBSE and offer less exchange risk then you have a competitive advantage.  However simply being "not GLBSE" and not having yet suspended/delisted an asset isn't an advantage, it is simply another unknown.
8002  Bitcoin / Mining speculation / Re: What happens when the block reward halves to 25? on: September 26, 2012, 04:30:12 AM
You really think BFL can deliver 25TH/s on "day 0".  Given their track record?  Hardly.  Try doing the same thing but make the 25TH/s spaced out over the course of a month. 
8003  Economy / Securities / Re: (GLBSE) TYGRR.BOND-P 4.85% weekly uninsured pass though bond to BTCST on: September 26, 2012, 03:05:08 AM
I see you are unwilling to state how many shares you owned.  You believing 1 fake or real share of GLBSE is worth 21,000,001 BTC doesn't make it so.  Your belief on what is is worth is irrelevant.
8004  Economy / Auctions / Re: Advertise on this forum - Round 52 - 52 SLOTS AVAILABLE on: September 26, 2012, 02:58:06 AM
Wait WTF is going on?  The rules say 1 SLOT MAX period.  Why are the last 2 posts both bidding on 2+ slots.
8005  Economy / Scam Accusations / Re: Nefario GLBSE on: September 26, 2012, 02:53:37 AM
After witnessing the BS that is Goat, one thing is clear to me..  crystal clear..


Goat should not, and cannot be in charge of any asset, amount of bitcoin or anything remotely important, and to do business with him is identical to shooting yourself in the foot, and expecting a free ride to the hospital paid for by the people he cheats, and the money he loses of others

Yeah, I'm 100% scammer. Go post your evidence in the Goat is a scammer thread if you have anything other than slander.

Thanks.

I don't think he called you a scammer.  You are a liability (but then again so is Nefario).  You let tantrums, and games get in the way of profits and business.  You have no common sense, no ability to reach equitable solutions in a dispute, and no real ethics.  Anyone doing business with you WILL LOSE eventually.  That doesn't make you a scammer, it just makes you a liability to be avoided at all cost.
8006  Economy / Securities / Re: (GLBSE) TYGRR.BOND-P 4.85% weekly uninsured pass though bond to BTCST on: September 26, 2012, 02:50:36 AM
Be a man and answer the obvious question.  How many shares did you have at the time your account was closed?

"I was tricked to act like a part owner for over a year... The value on that is greater than 30 BTC."
Your subjective value is irreverent.  No court of law would consider that.  If you had 100 shares and they were legit then they would only be 0.13% "part owner".  The idea that you had some massive loss of equity (believed or otherwise) is laughable.

The facts:
you owned X shares.
if real those shares are worth ~0.3 BTC.
you were offered 0.1 BTC per share.
you have already profited ~30 BTC.
At best your "loss" is negligible and most likely you profited from the entire experience.

So be a man and answer the obvious question.  How many shares did you have at the time your account was closed?
8007  Economy / Securities / Re: (GLBSE) TYGRR.BOND-P 4.85% weekly uninsured pass though bond to BTCST on: September 26, 2012, 02:36:17 AM
You keep saying I lost nothing. But I was told more than once and I operated as if I was a part owner of GLBSE and would get more stock soon. This is worth way more than 30 BTC. A year of work making many assets that did not scam. Sadly I am 50% of GLBSE and I brought in most of the other good 50%.

I was used and now that Nefario wants to sell out he does not want to give me what he owes me. And it is a lot more than 30 BTC...

The value of real shares is ~0.3 BTC ea.  You could buy some right now.  It would require approval from other shareholders.  Approval you likely will never get because you are a giant liability to any business you have contact with.   The fake shares can't have value higher than real shares.

So how many fake shares do you own?  My guess is you won't answer because you know you have suffered no loss.  You could be a shareholder of GLBSE right now but YOUR own actions, not Nefario's have closed that door (likely forever).  Any owner would have to be brain dead to bring your tantrums and drama into a business.
8008  Economy / Securities / Re: (GLBSE) TYGRR.BOND-P 4.85% weekly uninsured pass though bond to BTCST on: September 26, 2012, 02:24:43 AM
Goat had no losses (only profit) from the "fake GLBSE" debacle.  You keep talking about losses (multiple times in multiple threads).  Where do you get this silly idea that Goat "lost" anything?  He bought a handful of share he knew were fake for 0.05 BTC ea and sold at least 3 for 31 BTC and was given the option to redeem the rest for 0.1 BTC.  What loss did he incur? 

However I do agree that this has damaged GLBSE.  I will never offer a security on that site under any conditions.  The "we do what we want when we want" is too much of a counterparty risk.    If GLBSE wanted the ability to delist it should have been setup that way from the start.  If they wanted to add it they should have done so in a manner which didn't harm issuers and shareholders.
8009  Other / Off-topic / Re: "Frist Look at BFL's ASIC Hardware" on: September 26, 2012, 02:20:49 AM
Exactly.  While it isn't absolute proof the lack of photos, benchmarks, pool hashrate at this point makes the deadline seem implausible.  When you look at BFL history and inability to meet deadlines I think January is possible but on the optimistic side.  To be cautious I would leave it at "Q1 2013".
8010  Economy / Auctions / Re: Auction: Five (5) US Dollars on: September 26, 2012, 02:17:42 AM
.37500001
8011  Economy / Scam Accusations / Re: Nefario GLBSE on: September 26, 2012, 02:04:58 AM
This'd seem to run against the shield-not-sword doctrine tho.
I presume he's trying to recover losses, not replace lost profits. If that's not true, then it's a different story.

What losses?

He has profited.
8012  Other / Off-topic / Re: "Frist Look at BFL's ASIC Hardware" on: September 26, 2012, 01:31:02 AM
USB power spec is 1 Watt. To get 3.5GH/s the chip would have to master 3500MH/Joule ... this is possible but unlikely.

USB is 5V and max current is 0.5A = 2.5W per port.
Dual USB ports = 5 watts.  Smiley
Laptop CD ROM drives have been doing that trick for years.
8013  Bitcoin / Development & Technical Discussion / Re: "Heads or tails" cointoss with Bitcoin transactions? on: September 26, 2012, 01:15:37 AM
This is analogous to not performing a coin toss with a friend, but having a third friend toss the coin with a "coin tossing machine", which can replicate earlier tosses perfectly. You have no way of knowing if the coin toss done by the machine is really random, because nothing about the output will tell you if it was random or not.

8014  Economy / Economics / Re: Can bitcoin die at some date because of stranded bitcoins? on: September 26, 2012, 12:57:31 AM
It would be unfair because it is changing the rules after the fact.  Essentially the first "post ex facto" rule for Bitcoin.

It also creates a horrible precedent.  Once you show that you can get away with changing the rules to 99 years their will always be pressure from others to change them further.  Why 99 years?  In some years when after a decade or so there are x million unmoved coins there will be pressure to change it to 50 years or 20 years or even 1 year.  There will be pressure to raise the cap, to change the distribution amount ("isn't it also unfair that 75% of all coins were mined in the first 8 years). 

The end result would be a banking elite who can change the minting or deminting rate so that growth and contraction of the money can optimally match the estimated growth or contraction of the Bitcoin economy.  Sound familiar?

Some of us feel it is immoral to take what isn't yours when the social contract between members is that tx are irreversible and that includes if I want to move my coins to an offline wallet for 100 years I can.  Any change violates that social contract and it is a slipperly slope.  Still to change it when it doesn't even need changing makes it even worse.  It shows future generations that the social contract means nothing and Bitcoin can be changed for small or trivial reasons.
8015  Bitcoin / Development & Technical Discussion / Re: "Heads or tails" cointoss with Bitcoin transactions? on: September 25, 2012, 08:06:22 PM
If your random "source" comes from nodes it will be manipulated.  One could simply design a node which never loses.  There is no such thing as "the network" it is a network of individual nodes.

tx can't be modified because the exact tx is signed by the sender and that signature is only valid for the exact tx sent.  Even if you could modify the message your method would be trivial to defeat.  The attacker would simply only relay the tx to nodes under his control and thus control the number of binary "flips".

When building any system using the bitcoin network you should assume everything you receive is from malicious nodes and thus is untrusted until verified.
8016  Bitcoin / Project Development / Re: Buying BTC with Visa / Mastercard [New Service?] on: September 25, 2012, 07:38:31 PM
Also, it's looking like some of the merchant accounts for high risk processors are expensive. Some charge a monthly fee of $50 and as much to 6% (or more) per transaction. To cover exchange fees, processor fees, and have enough margin (3-5%) to cover charge backs it could be as much as 10% above what you get from Mt. Gox.

Your fraud is going to be much more than 3%.  I would plan for 15% (and probably 20%+ is more likely).  Also your discount rate isn't going to be 6%.  Once your chargeback rate exceeds a few % they will either drop you or jack the rate to 10% plus.  Chargebacks are going to be $35 on top of the complete loss.  So if your average loss is 10 BTC ~$120 you can count on chargebacks adding another 15%*($35/$120) = 4%.

So planning on 10% markup is a good way to get raped.  15% + 10% + 4% +5% (profit) =  ~35% markup.  Honestly you will still crash and burn and end up owing your processor a small fortune but 35% is more realistic than 10%.  The problem is a single organized attack could easily be hundreds if not thousands of fraudulent orders.  You won't even notice until the next month (when they all reverse leaving you tens of thousands of dollars short).
8017  Economy / Auctions / Re: Auction: Five (5) US Dollars on: September 25, 2012, 05:31:33 PM
0.37
8018  Bitcoin / Legal / Re: Got off the phone with the Guy from the S.E.C on: September 24, 2012, 07:04:19 PM
OP cannot even right a few paragraphs of text in correct English and with internal consistency. Not much of a source.

However, if Pirate is going to jail that is very bad news indeed Sad

Why?  You think he was just going to pay everyone in full tomorrow except oops he is going to jail so he can't.

He wasn't ever going to pay anything.  Either he can't be (because he stupidly lost it) or he wasn't because he figured he got away with your cash.

He is scammer, thief garbage.  We aren't talking a couple GPUs here but millions of dollars.
8019  Economy / Securities / Re: [GLBSE] Violating its TOS and Possible Laws depending on country of Origin on: September 24, 2012, 05:30:00 PM
stochastic,

Please read the instructions for the public report filing in TX.  

http://www.window.state.tx.us/taxinfo/taxforms/05-396.pdf

Page 11
Quote
Section A: Report the name, title and mailing address of
each officer and director of the corporation, LLC or financial
institution as of the date the report is filed. If ALL the
preprinted information in Section A is correct, blacken the
circle located below the mailing address on the form.
Otherwise, mark through any incorrect information and type
or print the correct information next to the incorrect item or,
if Section A is blank, complete Section A.
Domestic profit corporations and domestic professional
corporations must list all officers, which must include the
president and secretary, and all directors. One person may
hold all offices. Domestic non-profit corporations must list all
officers. Different persons must hold the offices of president
and secretary. There is a minimum of three directors. Domestic
limited liability companies must list all managers and, if the
company is member-managed, list all members
. All officers, if
any, must be listed. Non-Texas entities must list all officers
and directors that are required by the laws of the state or
country of incorporation or organization.

Not sure what your rebutal was.  

You do understand that LLC are broken into two structure types.
* Manager managed (where members elect a manager much like shareholders elect officers in a corporation)
* Member managed (where all members have executive authority much like a partnership).

I clearly said that only member-managed LLC require reporting the members, which is a correct statement. What exactly were you trying to rebut?

Even in TX (your "it is public records" example state):
In a manager managed LLC no members information is reported.  
In a coproration no shareholder information is reported.  

So how exactly do you get the owner info with a quick phonecall or email?
How do you get what the state doesn't even have?


As for "legal code 13.1-1028 Section A" once again you only have part of the answer (which seems to be your continually problem):
Quote
Each limited liability company shall keep at its principal office the following

The company (not the state) needs to keep those records.   So how do you get confidential company information "easily" from "public records" (your two false claims) when the state doesn't even have the info to give you.

Quote
"The information may not be possible to get from the Secretary of the Commonwealth, but it is possible to subpoena the information.

When did I say it was IMPOSSIBLE under any possible circumstances to ever obtain information on company owners?  Way to move the goal post.  Your claims were 1) that it is public information and 2) that it is easy to obtain.  A subpoena isn't "easy" and there is no legal authority to demand that information without cause.   Go ahead subpoena that information and watch it get quashed.  A judge "could" compel a company to divulge that information.   However no judge is going to grant a court order simply because someone on the internets wants to know.   There has to be a compelling reason (like piercing the corporate veil, instances of securities fraud, embezzlement, etc).  

So once again not sure what your point was?  I feel we have gone round in circles and your new position is my original position.

I said (paraphrased):
* owner information isn't publicly available
* it will require a court order
* you will need to show the court why you should have that private information

You said (paraphrased)
* owner info is publicly available -
* you just need to ask the state.
* it is easy to get

 So once again what was your point?
8020  Economy / Scam Accusations / Re: Nefario GLBSE on: September 24, 2012, 05:22:21 PM
So "fake"/"fraudulent" GLBSE shares were listed but also still remain listed and traded?
And, the "real" shares in the GLBSE are not actually traded on the GLBSE?

They are no longer listed or tradeable on the exchange.  They can be "traded" off the exchange by using the transfer function (transfer assets from one account to another account).
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