[2014-08-28] Galt's Gulch Chile Yet Another Bitcoin Scam

[btcsql]

https://ounce.me/blog/libertarian-paradise-or-just-another-bitcoin-scam/

It appears that was to be a “fully self-sustaining community” — with a Bitcoin-IPO’d organic farm — won’t have the chance to shake off “the oppression of the over-regulated, over-taxed, war-riddled and welfare-riddled society consuming the world.”

According to Ken Johnson, project manager for GGC:

“there are two, possibly three, Bitcoin wallets, which are all accounted for.”

[Chef Ramsay]

I originally had money tied up in the organic farm but one thing after another prevented the dividends from paying out on time. Eventually, they paid us off in usd but not in the full BTC that I had put in. Pretty sad this turned out this way and a disgrace on Rand's novel. I guess there's only the Free State Project left and it's actually showing signs of working in a lot of cases. Plus, it's over ten years old and there's nothing fraudulent about it.

[ThomasCrowne]

I feel really bad for anybody that ends up losing over this.  Yet another case of human greed taking it's toll on public perception of bitcoin.  It's a shame really.  Loved the concept they where putting forth.

[GaltsGulchOrganics]

Chef Ramsay, our refund of shares was at the purchase price exactly denominated in BTC, there were some who bought/sold shares above and below this price which we cannot help the profits and losses associated with this. We did indeed return every bit we took in through the offering in BTC, though shares may have changed hands at the users' discretions.

[Chef Ramsay]

Chef Ramsay, our refund of shares was at the purchase price exactly denominated in BTC, there were some who bought/sold shares above and below this price which we cannot help the profits and losses associated with this. We did indeed return every bit we took in through the offering in BTC, though shares may have changed hands at the users' discretions.

Indeed this is the case and as far as I know I repped you for returning it. However, THE Galt's Gulch was expected to be the bastion of liberty and real capitalism and people invested Bitcoin wanting to churn out a top shelf organic farm that kept expanding but for some reasons, there always seemed to be issues. I hope it all works out but the lack of oversight to make sure this thing was running smoothly cost people precious Bitcoin, not garbage usd equivalent.