<nefario> [Pirate assets] are not listed or traded anymore

[Nefario]

Would you rather Nefario allowed trading in what are almost certainly illegal assets whilst the SEC is already investigating those assets?

Do we actually know that the SEC is investigating? (Is this the letter from Philip Moustakis?)

Yes they are.

[guruvan]

All the more reason to get your money the hell out of GLBSE.

Um. trading something likely illegal? As if most of the other (investor's money-losing) assets on GLBSE are likely "legal" according to the SEC.  OBSI.HRPT? CPA? C'mon - what's really "legal" on that market? - you've gotta be fucking kidding me with that argument to close trading down. (those defaulted assets should move, to where inexperienced investors can't see them).

Anyhow - the issue isn't about "getting money back from pirate" its about closing down a position that was being actively traded, with no notice.

The issue, is GLBSE doing whatever fucked thing they think of, with no notice. I'm sick of that, and really won't work with it. It's a HUGE red flag going forward. And, every time I see a flag that color red, the red ink is about to flow -- watch out people.

But meh. It's all about pirate anyhow.  idiots can't see past that "OOOH I'm right!!! It's a ponzi!!! to see what's the real issue - I guess bigass letters don't help for most of you. Let me restate it: it's about the exchange not giving notice of actions that are not carried out in an emergency.

Trading was closed with exactly zero communication or notice (which should have been provided on the GLBSE website, not this forum). That's fucked when it's something so many are interested in, and when there was no pressing reason for an emergency halt.

Saying "we'll be closing trading of PPT bonds in 1 week at this time" - this is fine

Waking up to "Asset Delisted - you're fucked" when the above should have been done has absolutely infuriated me. But, I figure most of you still can't fucking read, and will think I'm upset because "I lost all my money to pirate" wah wah. no. I'm irritated at the handful of btc I had tied up in trading a pile of bad debt. Any money I lost to pirate has been long since written off as a loss - but the few btc I put into increasing the size of my trading position could have been put to other use...especially if I'd had some notice that the exchange would be delisting the assets I was trading. (I'm well aware that trading had all but stopped since pirate's last announcement, but I also anticipated more action on those assets in the future) It's not about pirate, it's about delisting an asset without notice.

The risk trading on GLBSE has passed the threshold for me. The effort to legitimize GLBSE is, and will be, screwing current GLBSE investors for some time to come. Ah. Let's see how many more issues are closed without notice because of fear of the SEC.

Sorry if I seem a little irritated. I am. (Especially since I've now found that GLBSE has delisted 100% of Goat's assets - of which I only held a couple -P bonds that were part of my PBD holdings (pirate bad debt )

[Shadow383]

Waking up to "Asset Delisted - you're fucked" when the above should have been done has absolutely infuriated me.

We'd never have guessed.

GLBSE is doing what it needs to do to survive and become a more legitimate exchange. If you don't like it, you're welcome to spend $240 on joining Mircea's Porn Exchange (that is what MPEx stands for right?)

[MPOE-PR]

Waking up to "Asset Delisted - you're fucked" when the above should have been done has absolutely infuriated me.

We'd never have guessed.

GLBSE is doing what it needs to do to survive and become a more legitimate exchange. If you don't like it, you're welcome to spend $240 on joining Mircea's Porn Exchange (that is what MPEx stands for right?)

Pirate is doing what he needs to survive and become a more legitimate pirate too. Who's "we"?

[guruvan]

Waking up to "Asset Delisted - you're fucked" when the above should have been done has absolutely infuriated me.

We'd never have guessed.

GLBSE is doing what it needs to do to survive and become a more legitimate exchange. If you don't like it, you're welcome to spend $240 on joining Mircea's Porn Exchange (that is what MPEx stands for right?)

So, if what "we" need to do to survive, is arbitrarily screw investors, then that's ok? Um. no. That makes GLBSE a totally unsafe place to list or trade, in my book.

And, well...I've ponied up some time ago to trade at MPEx. I use a command line client, so I really don't give a rats ass if he's selling porn. The interface assures me that if necessary, the web interface can be pulled. It's considerably more secure than anything else I've seen in bitcoin. And - look - the assets aren't garbage. And there's options trading. Yes, please do leave that to people who understand more about money than investing in ponzi schemes and house-of-cards insane insurance, and guaranteed money losing bonds, and fake stocks and oh yeah...the lulz.

Maybe titties on the screen make a guy think about money better. Anyhow, I'd rather trust my money to a horny financial type than a geek overseeing lots of scams any day.

In fact, I'll probably I withdrew my GLBSE funds straight to MPEx. (EDITED after withdrawal)

[bitcoinbear]

Sounds like now is a good time to pick up cheap shares of pretty much everything.

I sure hope all the fund managers are watching and scooping up deals for their clients!

[markm]

I use a command line client, so I really don't give a rats ass if he's selling porn. The interface assures me that if necessary, the web interface can be pulled. It's considerably more secure than anything else I've seen in bitcoin.l)

Have you tried Open Transactions at all? Most people seem more interested in having a GUI, but folks who actually use command-line would be great to find out if the commands provided so far are sufficient or more are needed...

-MarkM-

[makomk]

And, well...I've ponied up some time ago to trade at MPEx. I use a command line client, so I really don't give a rats ass if he's selling porn. The interface assures me that if necessary, the web interface can be pulled. It's considerably more secure than anything else I've seen in bitcoin.

The original version of GLBSE used a command line client and private key authentication. Nefario changed it to the web interface that exists now because having to mess around with the command line actually made it unusable to most people.

[Bitcoin Oz]

Sounds like now is a good time to pick up cheap shares of pretty much everything.

I sure hope all the fund managers are watching and scooping up deals for their clients!

Theres not many good investments. Part of the reason glbse is changing is to bring in some real companies rather than ponzi schemes and ever reducing mining returns.

[HorseRider]

Theres not many good investments. Part of the reason glbse is changing is to bring in some real companies rather than ponzi schemes and ever reducing mining returns.

The mining company is profitable if you think in USD. not so many companies in the world can have a positive capital gain in the bitcoin unit.

[markm]

And, well...I've ponied up some time ago to trade at MPEx. I use a command line client, so I really don't give a rats ass if he's selling porn. The interface assures me that if necessary, the web interface can be pulled. It's considerably more secure than anything else I've seen in bitcoin.

The original version of GLBSE used a command line client and private key authentication. Nefario changed it to the web interface that exists now because having to mess around with the command line actually made it unusable to most people.

Some recent posts though seem to indicate maybe a stock exchange should not be useable to "most people" but, rather, be used only by "brokers", so maybe requiring some small amount of expertise to use it was actually a good thing, helping to keep everyone and their dog from trying to act as a "broker"?

-MarkM-

[MPOE-PR]

And, well...I've ponied up some time ago to trade at MPEx. I use a command line client, so I really don't give a rats ass if he's selling porn. The interface assures me that if necessary, the web interface can be pulled. It's considerably more secure than anything else I've seen in bitcoin.

The original version of GLBSE used a command line client and private key authentication. Nefario changed it to the web interface that exists now because having to mess around with the command line actually made it unusable to most people.

Some recent posts though seem to indicate maybe a stock exchange should not be useable to "most people" but, rather, be used only by "brokers", so maybe requiring some small amount of expertise to use it was actually a good thing, helping to keep everyone and their dog from trying to act as a "broker"?

-MarkM-

Don't forget a fee. Some minimal competence + some minimal bankroll.

[ciuciu]

And, well...I've ponied up some time ago to trade at MPEx. I use a command line client, so I really don't give a rats ass if he's selling porn. The interface assures me that if necessary, the web interface can be pulled. It's considerably more secure than anything else I've seen in bitcoin.

The original version of GLBSE used a command line client and private key authentication. Nefario changed it to the web interface that exists now because having to mess around with the command line actually made it unusable to most people.

Some recent posts though seem to indicate maybe a stock exchange should not be useable to "most people" but, rather, be used only by "brokers", so maybe requiring some small amount of expertise to use it was actually a good thing, helping to keep everyone and their dog from trying to act as a "broker"?

-MarkM-

Don't forget a fee. Some minimal competence + some minimal bankroll.

And some porn. Everything is better with porn!

[repentance]

OBSI.HRPT? CPA? C'mon - what's really "legal" on that market? - you've gotta be fucking kidding me with that argument to close trading down. (those defaulted assets should move, to where inexperienced investors can't see them).

Personally, I think that trading in defaulted assets should have been halted from the outset but sooner or later the Bitcoin world is going to need to come to grips with the concept of "sophisticated investors" and offer certain investments only to those who can meet certain income/asset benchmarks.  Of course this requires verifying people's real life financial information so it's likely to be unpopular with many.  And people are still going to create pass-throughs to high risk offerings, but it's a step towards making those who promote high risk investments more accountable.

[bitcoinbear]

Personally, I think that trading in defaulted assets should have been halted from the outset but sooner or later the Bitcoin world is going to need to come to grips with the concept of "sophisticated investors" and offer certain investments only to those who can meet certain income/asset benchmarks.  Of course this requires verifying people's real life financial information so it's likely to be unpopular with many.  And people are still going to create pass-throughs to high risk offerings, but it's a step towards making those who promote high risk investments more accountable.

So you are saying that rich people are somehow better than poor people? That having a certain amount of money should allow you more freedom than people with less money? And who is to say where the cutoff is?

[ciuciu]

Personally, I think that trading in defaulted assets should have been halted from the outset but sooner or later the Bitcoin world is going to need to come to grips with the concept of "sophisticated investors" and offer certain investments only to those who can meet certain income/asset benchmarks.  Of course this requires verifying people's real life financial information so it's likely to be unpopular with many.  And people are still going to create pass-throughs to high risk offerings, but it's a step towards making those who promote high risk investments more accountable.

So you are saying that rich people are somehow better than poor people? That having a certain amount of money should allow you more freedom than people with less money? And who is to say where the cutoff is?

He is just a romanian pedophile.

[danieldaniel]

Personally, I think that trading in defaulted assets should have been halted from the outset but sooner or later the Bitcoin world is going to need to come to grips with the concept of "sophisticated investors" and offer certain investments only to those who can meet certain income/asset benchmarks.  Of course this requires verifying people's real life financial information so it's likely to be unpopular with many.  And people are still going to create pass-throughs to high risk offerings, but it's a step towards making those who promote high risk investments more accountable.

So you are saying that rich people are somehow better than poor people? That having a certain amount of money should allow you more freedom than people with less money? And who is to say where the cutoff is?

He is just a romanian pedophile.

WTFBBQSAUCE.  Where did that come from?

[guruvan]

And, well...I've ponied up some time ago to trade at MPEx. I use a command line client, so I really don't give a rats ass if he's selling porn. The interface assures me that if necessary, the web interface can be pulled. It's considerably more secure than anything else I've seen in bitcoin.

The original version of GLBSE used a command line client and private key authentication. Nefario changed it to the web interface that exists now because having to mess around with the command line actually made it unusable to most people.

Some recent posts though seem to indicate maybe a stock exchange should not be useable to "most people" but, rather, be used only by "brokers", so maybe requiring some small amount of expertise to use it was actually a good thing, helping to keep everyone and their dog from trying to act as a "broker"?

-MarkM-

Don't forget a fee. Some minimal competence + some minimal bankroll.

And some porn. Everything is better with porn!

See. Now you're getting into the swing of it.

[ciuciu]

Personally, I think that trading in defaulted assets should have been halted from the outset but sooner or later the Bitcoin world is going to need to come to grips with the concept of "sophisticated investors" and offer certain investments only to those who can meet certain income/asset benchmarks.  Of course this requires verifying people's real life financial information so it's likely to be unpopular with many.  And people are still going to create pass-throughs to high risk offerings, but it's a step towards making those who promote high risk investments more accountable.

So you are saying that rich people are somehow better than poor people? That having a certain amount of money should allow you more freedom than people with less money? And who is to say where the cutoff is?

He is just a romanian pedophile.

WTFBBQSAUCE.  Where did that come from?

Check this out: https://bitcointalk.org/index.php?topic=102333.0
Go to the boys side of his porn website to see guruvan in action .

[guruvan]

OBSI.HRPT? CPA? C'mon - what's really "legal" on that market? - you've gotta be fucking kidding me with that argument to close trading down. (those defaulted assets should move, to where inexperienced investors can't see them).

Personally, I think that trading in defaulted assets should have been halted from the outset but sooner or later the Bitcoin world is going to need to come to grips with the concept of "sophisticated investors" and offer certain investments only to those who can meet certain income/asset benchmarks.  Of course this requires verifying people's real life financial information so it's likely to be unpopular with many.  And people are still going to create pass-throughs to high risk offerings, but it's a step towards making those who promote high risk investments more accountable.

People trade in defaulted assets all the time. Typically, they move off major exchanges and onto sketchier ones, or to OTC, but trade they do. (and make lots of money doing it, I might add...thus why I was a little miffed when these stopped trading....I made my rent trading ppt bonds back & forth this month. Would have been nice to not have that flow stopped - though pirate's message re: the 12th kinda killed the market)

I am not a fan of having to have accredited investors, in the typical legal sense. I like the MPEx way of weeding people out, though. Some technical skill/determination & a few coins. I'm also not a fan off verifying my financial information. It just irritates me every time. If I had to be an accredited investor to trade in what I do trade in now, I couldn't do it. That's a huge attraction for me for bitcoin. Most people shouldn't do such things, but I'm not a fan of having to have the government protect you from your own dumb ass.(maybe I'm a fan of it protecting you from some other dumbass...but not yourself - you do that, or you put the finger on the stove and get burned.)