Nefario on GLBSE took over an asset called "GLBSE" that he assumed was a scam. He then let this stock trade and said that they would become valid GLBSE stock. He let this stock trade over 10 BTC each. GLBSE profited form the sale of these stocks because of commissions collected.
Nefario has the option to trade his real valid GLBSE stock for the "fake" GLBSE stock he said he would make good but he is now going to do a force by back of the shares for .1 BTC. That is less than 1% for what they were trading for.
Could someone confirm that (upper quote?)?
Especialy Nefario isn't above true? or there is sth. important missing?
Because if it is true I have to agre with the other part:
Anyone wouldn't?
I bought and held GLBSE and invested my time in GLBSE because I was told that I was a part owner. I was tricked, cheated and more or less scammed.
Nefario could trade me his real stock but refuses to do so and will just steal my GLBSE assets with out my consent.
If you make good on your word and trade me real GLBSE stock you will keep your word. If you "force" me to sell you will be stealing my asset.
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.
You mised that than in the meantime Goat was told that fake shares will be real.
And that makes you making mess here and trying to make mess.
(...) 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!Just human.
There was some huge mistake and not by Goat but by Nefario, and now you are saying that using someones mistakes is what?
I don't really understand where the debate is. Because Nefario doesn't have the authority to honor his word means that he is 'all good'?
My understanding:
He acknowledged the shares were fake, but agreed to 'honor' them, making them real GLBSE stock
Goat then buys it, thinking that it will become real stock
Nefario cannot make it stock, because he assumed he had more power than he did. Obviously, he could have known he cannot just 'make more stock'
Now to clean it all up, the fake, but then real, but now fake again stock is being bought back for the initial IPO listing price?
However, at the same time, I feel that if it sounds too good to be true, it probably is. It would be like going to a car dealership and being offered a price that is too low. Being told You are paying $$$$, but the contract says $$$$$. Would the dealership be a 'scammer'?
Obviously yes.
+1 because of that
Nefario didnt scam the people Goat sold the shares to for 10btc. Goat scammed them.
Did he lay anyone?
So he didn't scam anyone.
If someone laying and even do not try to come true his lays, than he is scamer.
Nefario didnt scam the people Goat sold the shares to for 10btc. Goat scammed them.
This seems to be an unfounded accusation. Do you have some evidence that he acted in less than good faith?
If Goat had inside information that the Nefario would not honor his word, but that information wasn't also available to the people he sold them to, I could see it. But your dislike of profit doesn't seem sufficient.
It's about reasonable expectation. Goat knew damn well, there was never a reasonable expectation for the fake shares to be worth that. The fact he convinced others of that value changes nothing.
And the damn GLBSE ticker shold ahve been fuggin frozen 7 months ago when this was first talked about...
I will agree with that. It allowed Goat to take advantage of people.
So can't you blame Goat that he used that.
He used people according to rules.
And rules are more important than someone losses.
Goat might be a douche for wanting Nefario to buy them for 10 BTC each, but that doesn't make him a scammer, and more than Nefario's mistaken statement about honoring them makes him a scammer.
Well said and true for me.
The issue is a voluntary buyback doesn't resolve the issue of people like Goat committing fraud in the future trying to sell the worthless shares for 10, 100, 1,000 BTC, and then the people saying why didn't GLBSE prevent this. This all came up again when there was a thread where people were once again attempted to unload the worthless shares.
Meh. Just re-list them, with a big notice on the details page that they are only collectors items with no inherent value, and not actual shares in
any company, certainly not in the exchange itself. Then when GLBSE goes public, they can take the ticker GLBSE2, as a history lesson, and a reminder that mistakes can have long lasting and far reaching consequences.
Many of us that are involved with bitcoin are doing so because we find depriving people of their rightful property distasteful. GLBSE should consider very carefully what messages they want to send to their customers. Some of us are already uncomfortable that all shares are held in street name. Well, worse than street name, actually, since a single entity is acting as both brokerage and exchange. This is an opportunity to show that GLBSE respects the ownership of the properties that it is custodian of, even when it hurts.
Also, love your loaded phrasing. Classic.
You may not do anything legally wrong here.
But you proof again that it is very dangerous to do business with you.
You show that if business doesn't work out the way you expected you will search for every possible loophole to screw you business partner.
Showing this kind of behavior may be the deathblow to your already damaged reputation.
Brutal true - I would prefer to do business with Goat rather than with Nefario, because he is brutal, and do not lay.
It,s just Nefario is the person who want to cheat because he want to take profit (by not giving his shares as the only honest solution exists now (including talking other shareholders to let him do that))
I didn't mean that Goat doesn't honor his contract. I mean the opposite. Goat takes contacts and even things said to a level where it just isn't reasonable by common sense anymore.
Just see this thread, or the thread where he tries to get shares on bitcoin magazine.
That's all I meant. I'm still confident that goat will honor all his contracts. I would be carefully if I deal directly with him, or if he would be shareholder of my business, though.
You should be carrefoul when you deal with anyone, rather than to behave as Nefario.
