Nefario GLBSE

[Bitcoin Oz]

 I suggest you take the buyback price and stfu because its the best youre gonna do.

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[DeaDTerra]

When I bought and held the stock it was because I was told I was now a part owner of GLBSE.

Interesting sentence...
How could someone tell you were a part owner of GLBSE if you hadn't bought any shares yet?

Drunk? Or just trying to hustle your way to the top?

Do you not understand that Nefario claimed that he would turn the fake GLBSE shares into valid GLBSE shares?

I bought them after he made this claim.

He now wants to take my GLBSE assets and not make good on his word. This is clearly a scam.

Nefario could make good on the stock but is just not going to. It is easier just to steal :/

Nefario should have a scammers tag until he makes good on his pledge and give me the valid shares.

A scammer created the asset while Nefario was away.
People thought it was real.
Nefario felt that it was his fault for not noticing it and removing it immediately instead it traded for a couple of days.
To be nice Nefario said that he might decide to take up this asset and share any potential profit with the share holders.

Nefario was in a totally other situation then he is today, GLBSE was a small hobby project barely making anything. He was trying to be nice and repay the people that got scammed.
Now by misusing this and forcing Nefario to convert into GLBSE V2 shares you are misusing his word and his promise, he promised out of niceness and because he felt it was his fault. To now come several months after when the situation is totally different and expect a piece of the cake of GLBSE V2 is offensive.

Nefario didn't get anything out of the scam asset called GLBSE on the exchange, the scammer did. Nor was he in the same situation as he is now, a easy way out is to claim that the asset was for GLBSE V1 which is now dead, then he would not broken his promise and he would owe you nothing. But I doubt Nefario will do that, instead he will probably settle it with is private capital, what ever you get take it because it's more then Nefario morally and legally have to give you.

Now can everyone stop taking a shit on Nefario and let him get to work...
//DeaDTerra

[bitdragon]

If Nefario takes my asset I will consider it theft.

He is paying you for it.
I guess you deem it not enough, based on how much you managed to sell it yourself, apparently 10BTC.
There is no basis for expecting 10BTC a share. You cannot solely determine the price of a share, you don't know how many shares there are in total and the market is greater than you.

The price you sell something at cannot be what you expect and demand others to pay you at a future time.
I feel there is less and less in your favour...

[mintymark]

You know Goat, just stating the same thing over and over again is pretty boring and not going to get you anywhere.

When you brought these shares (after the fact so you say), there was a good chance that they would have been converted but there were plenty of reasons why that might not happen. If they had been, you would have made a killing. But it was never a dead certainty, so you must accept that there was always a chance this would not pan out. If you had had a bit more foresight, you might have asked additional questions - you might have realised that this would mean dilution of existing shareholders holding and you might have realised that it would require a board decision, not just the word of the ceo.

Its not a scam because it was never the intention to scam. Scam requires intention and it must be obvious that that is not what has happened here. This is the meaning of the word, and its not applicable here. You Goat, took a gamble, and lost. I think you would be lucky to get back what you paid for the scammy glbse stock, after all then you have your money back. (Well let me clarify, perhaps an equivalent to fiat since the value in fiat terms of the bitcoin may have changed since then.)

Probably Nefario was careless in what he said - what he might have said is I will take this to the board with the recommendation that they honour the scammy stock with intention of protecting the good name of GLBSE because it would surely be worth it to the board. But in fact the board have made a different value judgement. They could have agreed, in which case Goat and others would have been quids in!! But they didnt and they are not and its not at all unreasonable to suggest that Goat could have foreseen this as a possible outcome.

If you look at normal stocks and shares, price spikes caused by comments, sometimes careless are common place and you cannot claim afterwards that they should have the value they had during the spike - you brought - you lost out.

Goat keeps on stating the same simple minded statement again and again because he still sees an outside chance that he might profit enormously. But I think that he should be given no more than their original value back for the shares, possible less and that this should be a time-limited offer. (After that the offer is OFF!!) And I'd say no way does Nefario deserve a scammer tag.

If it were up to me. But, of course it is not.

[DannyM]

Nefario felt that it was his fault for not noticing it and removing it immediately instead it traded for a couple of days.

Can we get an exact timespan it was trading for? I was considering purchasing shares of GLBSE for a couple of weeks.

[DeaDTerra]

Nefario felt that it was his fault for not noticing it and removing it immediately instead it traded for a couple of days.

Can we get an exact timespan it was trading for? I was considering purchasing shares of GLBSE for a couple of weeks.

Well he didn't shut down trades.
But it was before he noticed the scam and took action against it.
The asset in it self is older then GLBSE V2 so several months.
//DeaDTerra

[Bitcoin Oz]

I predict Goat will get "face value"

[Vbs]

If Nefario takes my asset I will consider it theft.

So, let's recap:

• Fake GLBSE shares are not actually real GLBSE shares
• Nefario doesn't has the individual power to convert the fake shares to real shares without a motion (out of his control), so he cannot honor his word
• Nefario didn't specify when he would do such conversion

Hmm. So the best solution seems to be: Freeze all fake GLBSE shares indefinitely.

[DeathAndTaxes]

Goat has thus far refused to communicate with me, so I'm going to go ahead and post my thoughts based on the available information.

I don't think Nefario is a scammer.

If Nefario were to honor those shares, he would be in breach of contract with the shareholders. He cannot issue new shares, nor can new shareholders be brought in without a vote from existing shareholders. Giving him a scammer tag for not doing something he legally can't do is not ethical or logical.

At the time he made that promise, he either knew or should have known that he couldn't keep it based on his existing contractual obligations. He made it anyway. He and others profited from that false statement, whilst people like Goat who had no reason to believe that Nefario wouldn't fulfil the promise he had made - because unlike Nefario they didn't have any way of knowing about the contract stating he couldn't - have lost money.

Why are you assuming goat lost money.  Reading between the lines Goat bought shares at the IPO price, shares he knew were worthless.  He then sold a few of them for 10 BTC ea (a 10,000% profit) to victims and now will get reimbursed in full for the remaining shares.  So please tell me exactly what Goat "lost"?

[c0ffer]

I am trying to understand what is going on with this but am having a difficult time deciphering the problem.

So there was to be a GLBSE asset that was going to be nefario's and people bought shares, but now it is being said that the GLBSE listing was actually fake?

Now nefario won't use his omnipotent powers of TOS rules or "vetting" to correct the situation, but is instead saying that he can't make changes because of voting? Is this for voting on the "fake" GLBSE or for the real one? Is there a "real" GLBSE listing? Is the "fake" listing still active?

[wachtwoord]

The reals GLBSE assets aren't publicly traded

[DeathAndTaxes]

I am trying to understand what is going on with this but am having a difficult time deciphering the problem.

So there was to be a GLBSE asset that was going to be nefario's and people bought shares, but now it is being said that the GLBSE listing was actually fake?

Now nefario won't use his omnipotent powers of TOS rules or "vetting" to correct the situation, but is instead saying that he can't make changes because of voting? Is this for voting on the "fake" GLBSE or for the real one? Is there a "real" GLBSE listing? Is the "fake" listing still active?

No none of that is correct.  GLBSE has never been publicly traded.  Foolishly nefario never blocked the ticker symbol GLBSE.  Another scammer, registered a contract under the ticker GLBSE and sold about 30 BTC worth of shares before it was delisted.   At this point neither the fake listing nor the real GLBSE shares are available for trade.   Anyone who had fake GLBSE shares at the point it was delisted has them in their accont.  They can be transfered to another account. 

Goat has some (? number) of shares of the fake stock.  He knew they were the fake stock when he bought them, he knows they are the fake stock now.  He ripped off other users selling what he knew was fake stock for 10 BTC a share (a 10,000% profit for himself).  Nefario has said the fake GLBSE shares will be removed from everyone's accounts and they will be given the IPO price (0.1 BTC).  Goat (the only scammer in the thread) calls that a scam.

[DannyM]

GLBSE has never been publicly traded.  Foolishly nefario never blocked the ticker symbol GLBSE. 

Well not GLBSE, but nefario announced that the Bitcoin Global asset listed on GLBSE was in fact officially the company owning and operating GLBSE.

When I saw GLBSE trading months later, I thought perhaps some of the Bitcoin Global shareholders had decided to sell. I had forgotten that the ticker symbol was BG not GLBSE.

[Vbs]

(...) Nefario has said the fake GLBSE shares will be removed from everyone's accounts and they will be given the IPO price (0.1 BTC). (...)

Personally, paying 0.1 is too much for them, it's like rewarding exploiters. Even after Nefario told those were fake shares, there are still individuals wanting to exploit his good-will for maximum profit. Incredible!

[BitcoinINV]

(...) Nefario has said the fake GLBSE shares will be removed from everyone's accounts and they will be given the IPO price (0.1 BTC). (...)

Personally, paying 0.1 is too much for them, it's like rewarding exploiters. Even after Nefario told those were fake shares, there are still individuals wanting to exploit his good-will for maximum profit. Incredible!

Welcome to the wonderful world of bitcoin forums lol

[kjj]

Goat has thus far refused to communicate with me, so I'm going to go ahead and post my thoughts based on the available information.

I don't think Nefario is a scammer.

If Nefario were to honor those shares, he would be in breach of contract with the shareholders. He cannot issue new shares, nor can new shareholders be brought in without a vote from existing shareholders. Giving him a scammer tag for not doing something he legally can't do is not ethical or logical.

At the time he made that promise, he either knew or should have known that he couldn't keep it based on his existing contractual obligations. He made it anyway. He and others profited from that false statement, whilst people like Goat who had no reason to believe that Nefario wouldn't fulfil the promise he had made - because unlike Nefario they didn't have any way of knowing about the contract stating he couldn't - have lost money.

Why are you assuming goat lost money.  Reading between the lines Goat bought shares at the IPO price, shares he knew were worthless.  He then sold a few of them for 10 BTC ea (a 10,000% profit) to victims and now will get reimbursed in full for the remaining shares.  So please tell me exactly what Goat "lost"?

Do you have a citation for the pricing?  I haven't seen anything to suggest that Goat purchased at the IPO price and then sold for a profit.  It sounds more like he purchased them for 10 BTC each, but I don't think he's actually said that explicitly.

The most equitable resolution to this would be for Nefario to make an offer of purchase for the shares, at his own expense, or if the other shareholders agree, at company expense, at the price each holder paid for them, assuming that such a price can reasonably be demonstrated.  That said, I don't think that failure to do so would be grounds for a scammer tag.  Sounds like an honest mistake on his part, and not ill intent.

[Bitcoin Oz]

I am trying to understand what is going on with this but am having a difficult time deciphering the problem.

So there was to be a GLBSE asset that was going to be nefario's and people bought shares, but now it is being said that the GLBSE listing was actually fake?

Now nefario won't use his omnipotent powers of TOS rules or "vetting" to correct the situation, but is instead saying that he can't make changes because of voting? Is this for voting on the "fake" GLBSE or for the real one? Is there a "real" GLBSE listing? Is the "fake" listing still active?

GLBSE has real shareholders and bylaws and the only people qualified to buy anyones shares are existing shareholders.

[Bitcoin Oz]

(...) Nefario has said the fake GLBSE shares will be removed from everyone's accounts and they will be given the IPO price (0.1 BTC). (...)

Personally, paying 0.1 is too much for them, it's like rewarding exploiters. Even after Nefario told those were fake shares, there are still individuals wanting to exploit his good-will for maximum profit. Incredible!

Welcome to the wonderful world of bitcoin forums lol

Its Goat we are talking about here.

[Luke-Jr]

(...) Nefario has said the fake GLBSE shares will be removed from everyone's accounts and they will be given the IPO price (0.1 BTC). (...)

Personally, paying 0.1 is too much for them, it's like rewarding exploiters. Even after Nefario told those were fake shares, there are still individuals wanting to exploit his good-will for maximum profit. Incredible!

Welcome to the wonderful world of bitcoin forums lol

Its Goat we are talking about here.

And Goat is a known troll.

[DeathAndTaxes]

Do you have a citation for the pricing?  I haven't seen anything to suggest that Goat purchased at the IPO price and then sold for a profit.  It sounds more like he purchased them for 10 BTC each, but I don't think he's actually said that explicitly.

Goat never stated or even implied he bought shares for 10 BTC ea.  He did however sell fake shares he knew were worthless for 10 BTC to unsuspecting fools.

https://bitcointalk.org/index.php?topic=109660.msg1212459#msg1212459