Discuss OBSI.* here

[bitcoinbear]

This seems to be a troll thread.

OBSI sold 1MHS shares for 0.10 and bought them back for 0.10, and he also sold ABMO shares for 0.10 and bought them back for 0.10, and he is also in the process of buying back all of HRPT for IPO price.

So, if hes such the scammer you claim he is, why is he buying them back at all?

But has he bought back at .1 for HRPT? Bid is .02 and ask is .03 with 24 hour average at .044    ?

Well, if people are stupid enough to be selling it below IPO price, I can't blame him for buying it back at low prices.

24 hour volume is only 63 BTC. To me it does not look like he is buy much, if any up.

He mentioned he was going to buy back OBSI.HRPT at market prices before he disappeared. The number of shares receiving dividend has dropped slightly. Perhaps he will buy up to IPO price (0.1 btc), perhaps not, so it makes sense to sell the shares for what you can get. Although, if he is going to buy them all back, then you could make a lot of money by buying at market price and selling at IPO price. But then again, he might only buy back some and then stop.

Futurefund was given a final dividend near market price and then the asset was delisted.

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[DiabloD3]

This seems to be a troll thread.

OBSI sold 1MHS shares for 0.10 and bought them back for 0.10, and he also sold ABMO shares for 0.10 and bought them back for 0.10, and he is also in the process of buying back all of HRPT for IPO price.

So, if hes such the scammer you claim he is, why is he buying them back at all?

But has he bought back at .1 for HRPT? Bid is .02 and ask is .03 with 24 hour average at .044    ?

Well, if people are stupid enough to be selling it below IPO price, I can't blame him for buying it back at low prices.

24 hour volume is only 63 BTC. To me it does not look like he is buy much, if any up.

He mentioned he was going to buy back OBSI.HRPT at market prices before he disappeared. The number of shares receiving dividend has dropped slightly. Perhaps he will buy up to IPO price (0.1 btc), perhaps not, so it makes sense to sell the shares for what you can get. Although, if he is going to buy them all back, then you could make a lot of money by buying at market price and selling at IPO price. But then again, he might only buy back some and then stop.

Futurefund was given a final dividend near market price and then the asset was delisted.

Actually, GLBSE is fucked up. When you use the interface to buy back shares, it shows it as a large dividend. 1MHS and ABMO were also delisted this way as well. I have no reason to believe Obsi won't also delist his final asset, HRPT, correctly as well. He has no interest in screwing people, he was just tired of nefario's bullshit.

[stochastic]

This seems to be a troll thread.

OBSI sold 1MHS shares for 0.10 and bought them back for 0.10, and he also sold ABMO shares for 0.10 and bought them back for 0.10, and he is also in the process of buying back all of HRPT for IPO price.

So, if hes such the scammer you claim he is, why is he buying them back at all?

But has he bought back at .1 for HRPT? Bid is .02 and ask is .03 with 24 hour average at .044    ?

Well, if people are stupid enough to be selling it below IPO price, I can't blame him for buying it back at low prices.

24 hour volume is only 63 BTC. To me it does not look like he is buy much, if any up.

He mentioned he was going to buy back OBSI.HRPT at market prices before he disappeared. The number of shares receiving dividend has dropped slightly. Perhaps he will buy up to IPO price (0.1 btc), perhaps not, so it makes sense to sell the shares for what you can get. Although, if he is going to buy them all back, then you could make a lot of money by buying at market price and selling at IPO price. But then again, he might only buy back some and then stop.

Futurefund was given a final dividend near market price and then the asset was delisted.

Actually, GLBSE is fucked up. When you use the interface to buy back shares, it shows it as a large dividend. 1MHS and ABMO were also delisted this way as well. I have no reason to believe Obsi won't also delist his final asset, HRPT, correctly as well. He has no interest in screwing people, he was just tired of nefario's bullshit.

I have done a few buybacks and have never seen the interface list them as a dividend.  Also, my dividend tables never pick up buybacks.  If OBSI.HRPT did a forced buyback at IPO price then there would not be a problem.

[bitcoinbear]

The price of OBSI.HRPT has dropped immensly. Obsi is buying back shares, seems to be market price. The way the price is dropping, it is just making it easier and easier for Obsi to walk away with everybodies money.

[Deprived]

The price of OBSI.HRPT has dropped immensly. Obsi is buying back shares, seems to be market price. The way the price is dropping, it is just making it easier and easier for Obsi to walk away with everybodies money.

Indeed - it's actually highly amusing the way he's manipulating the price without actually obviously doing anything to do so.

People need to consider WHY did he buy out all his other companies at fair prices?  In what scenarios does that actually make any sense?

I'd explain further, except I now actually hold OBSI.HRPT shares (bought today when they finally fell below the price-point where I believe the risk/reward ratio is right to buy) - so it's in my interest for the price to stay nice and low so he can buy back a ton of them.  Then it's fingers crossed time for me - to see if the price does rebound when what I expect to happen actually happens (and, of course, to see IF what I expect to happen actually happens).

[stochastic]

The price of OBSI.HRPT has dropped immensly. Obsi is buying back shares, seems to be market price. The way the price is dropping, it is just making it easier and easier for Obsi to walk away with everybodies money.

Asset should be locked and any buyback from the issuer should be done with the function that GLBSE allows issuers to force a buyback.

[pyrkne]

The price of OBSI.HRPT has dropped immensly. Obsi is buying back shares, seems to be market price. The way the price is dropping, it is just making it easier and easier for Obsi to walk away with everybodies money.

Asset should be locked and any buyback from the issuer should be done with the function that GLBSE allows issuers to force a buyback.

This would work if there was a buyback clause in-contract. As I recall, there is no guarantee.

[Deprived]

The price of OBSI.HRPT has dropped immensly. Obsi is buying back shares, seems to be market price. The way the price is dropping, it is just making it easier and easier for Obsi to walk away with everybodies money.

Asset should be locked and any buyback from the issuer should be done with the function that GLBSE allows issuers to force a buyback.

All locking the asset would do is prevent anyone trading the shares.  It wouldn't magically move money into obsi's account to be sent to shareholders.  If that happened it's pretty much a given that noone would ever get anything other than whatever loose change happens to be in obsi's account.  I do hope you don't believe he actually keeps all his BTC sitting on GLBSE.

Plus: how has he broken his contract?  No buy-back option was ever offered.  No dividends were ever guaranteed.  No reporting requirements were ever defined.

Before taking an action, consider what benefits that action could have.  Locking obsi's account on GLBSE would achieve what?  Do you propose that GLBSE should FORCE a buyback on all obsi investors (at less than they could get selling on the market)?  That would go down really well if obsi then showed up and said "doh - sorry guys, I just got back our funds from the pass-through and was going to reimburse them but GLBSE just made you sell out at 0.00001 per share.".

If you want to sell out - use the market.  If you want to wait, wait.  If you believe obsi's broken his contract then go make a thread in scammer's forum.

[stochastic]

The price of OBSI.HRPT has dropped immensly. Obsi is buying back shares, seems to be market price. The way the price is dropping, it is just making it easier and easier for Obsi to walk away with everybodies money.

Asset should be locked and any buyback from the issuer should be done with the function that GLBSE allows issuers to force a buyback.

All locking the asset would do is prevent anyone trading the shares.  It wouldn't magically move money into obsi's account to be sent to shareholders.  If that happened it's pretty much a given that noone would ever get anything other than whatever loose change happens to be in obsi's account.  I do hope you don't believe he actually keeps all his BTC sitting on GLBSE.

Plus: how has he broken his contract?  No buy-back option was ever offered.  No dividends were ever guaranteed.  No reporting requirements were ever defined.

Before taking an action, consider what benefits that action could have.  Locking obsi's account on GLBSE would achieve what?  Do you propose that GLBSE should FORCE a buyback on all obsi investors (at less than they could get selling on the market)?  That would go down really well if obsi then showed up and said "doh - sorry guys, I just got back our funds from the pass-through and was going to reimburse them but GLBSE just made you sell out at 0.00001 per share.".

If you want to sell out - use the market.  If you want to wait, wait.  If you believe obsi's broken his contract then go make a thread in scammer's forum.

Wow, I should have wrote a bad contract for my asset, promised many things on bitcointalk, then tell all my investors I am closing down without any word of a repurchase plan, delete all my past promises, and purchase the assets back for pennies.

It is a good thing these kinds of assets can't be listed anymore on GLBSE.

[Bitcoin Oz]

The price of OBSI.HRPT has dropped immensly. Obsi is buying back shares, seems to be market price. The way the price is dropping, it is just making it easier and easier for Obsi to walk away with everybodies money.

Asset should be locked and any buyback from the issuer should be done with the function that GLBSE allows issuers to force a buyback.

All locking the asset would do is prevent anyone trading the shares.  It wouldn't magically move money into obsi's account to be sent to shareholders.  If that happened it's pretty much a given that noone would ever get anything other than whatever loose change happens to be in obsi's account.  I do hope you don't believe he actually keeps all his BTC sitting on GLBSE.

Plus: how has he broken his contract?  No buy-back option was ever offered.  No dividends were ever guaranteed.  No reporting requirements were ever defined.

Before taking an action, consider what benefits that action could have.  Locking obsi's account on GLBSE would achieve what?  Do you propose that GLBSE should FORCE a buyback on all obsi investors (at less than they could get selling on the market)?  That would go down really well if obsi then showed up and said "doh - sorry guys, I just got back our funds from the pass-through and was going to reimburse them but GLBSE just made you sell out at 0.00001 per share.".

If you want to sell out - use the market.  If you want to wait, wait.  If you believe obsi's broken his contract then go make a thread in scammer's forum.

Wow, I should have wrote a bad contract for my asset, promised many things on bitcointalk, then tell all my investors I am closing down without any word of a repurchase plan, delete all my past promises, and purchase the assets back for pennies.

It is a good thing these kinds of assets can't be listed anymore on GLBSE.

Wish we could go back and stop them listing in the first place. The amount of bitcoins lost to scummy fucks is staggering.

[pyrkne]

Wish we could go back and stop them listing in the first place. The amount of bitcoins lost to scummy fucks is staggering.

Agreed. After the past month or so, I don't know how long it will be until we can think about the word "default" with good connotations.

[bitcoinbear]

Wish we could go back and stop them listing in the first place. The amount of bitcoins lost to scummy fucks is staggering.

Agreed. After the past month or so, I don't know how long it will be until we can think about the word "default" with good connotations.

When does the word "default" ever have good connotations?

[pyrkne]

Wish we could go back and stop them listing in the first place. The amount of bitcoins lost to scummy fucks is staggering.

Agreed. After the past month or so, I don't know how long it will be until we can think about the word "default" with good connotations.

When does the word "default" ever have good connotations?

You're right. At the very least, I hope that its new definition of "runnin with yo' money" doesn't indicate any sort of trend.

[gimme_bottles]

what do you thing, is there any hope that obsi pays back?

[Lucidize]

That would be magical. I'm still hoping.

[usagi]

That would be magical. I'm still hoping.

what do you thing, is there any hope that obsi pays back?

I'm going to be starting my own independant investigation soon, I had about 500 or 600 bitcoins in it when GLBSE shut down.

As I recall it shouldn't be too hard to get something done about this. The facts as I understand them;

a) people knew who Obsi is/was -- i.e. someone out there can dox him -- maybe.
    If not, it may be possible to track him down in other ways (legal letters to ISPs, etc.) but this would require money.
    My lawyer has told me it will cost approx. $1,500 Canadian to track someone down via an IP address or e-mail address.
    The more info you can collect on someone the easier. I.E. maybe only $1200 if you have e-mail and IP.
    It's worth it to me personally, since I would intend to recover $8,000+. I'd want to work with others on this though.
    I don't mind contributing my fair share of the money to this.
    Obsi needs to be contacted NOT BECAUSE HE OWES US ANY MONEY, but to establish whether or not he told the truth.

b) Obsi invested the money in a payday loans chain, which means it will be easy to establish who the people he invested in were
    The fact is that if Obsi told us the truth he does not owe us any money.
    We need to determine however if there was fraud on the part of Obsi by investigating this claim.

c) The police were contacted by Obsi (this is the last fact I heard from him) and were going to investigate.
    We need to determine if there was fraud on the part of who he invested in, because then we would have the legal right to pursue the case there.

I am not sure if he was ID verified. Maybe? Can't remember. I don't think nefario would help though.

We just need his contact info to determine wtf happened. If he contacted the police, we would need proof of that. If that can't be provided, it would almost certainly have been a big scam and he would likely have pocketed the money. So the thing about the Obsi case will be, we need simple, quick and direct proof -- there's no need for stalling, secrecy, or any kind of crap. It's almost certainly not Obsi's fault -- and the only reason he should cut and run is if he scammed.

I'll need at least a couple of weeks or a month to get into this though. I am very busy with shutting down the bulk of my companies before I start chasing down people like Obsi.

[Deprived]

c) The police were contacted by Obsi (this is the last fact I heard from him) and were going to investigate.
    We need to determine if there was fraud on the part of who he invested in, because then we would have the legal right to pursue the case there.

I am not sure if he was ID verified. Maybe? Can't remember. I don't think nefario would help though.

He wasn't verified at all.  He made posts refusing to verify.

And I wouldn't refer to him reporting it to the police as a "fact" - I'd happily bet that he hasn't reported anything to the police at all.  He'd promised that if he was scammed himself he'd provide information on the parties he dealt with to investors (I got him to do that - precisely so that when he stopped paying interest but didn't return funds it would be obvious he was the scammer.).  Although he deleted his posts, my reply quoting him (made, of course, because I expected him to delete his posts at some point) is still there.  At that point he also said if he was scammed he'd leave it to investors to chase it up - but obviously he can't do that as he'd have no make up a loan company to blame.

His email address was a Tormail one so would assume his IP address would be a Tor exit node - so no way to track from that unless he used the email address elsewhere.  He never struck me as being stupid - so would at least have used a bouncer on irc if he wasn't connecting via Tor.  But he did buy or sell some mining hardware once I believe - some information may be available from whoever he dealt with.

Maybe after pirate AND him, people will stop throwing money at vague businesses with no proof of actual existence.  Unfortunately, I suspect not - and the next one doing the same will still blind people to the obvious scam occuring with a high rate of interest.

I wrote my 20 shares off the day after GLBSE went down (if it went down a few hours earlier would have caught me with a bunch more).  Might seem strange me saying it was an obvious scam but holding shares - however I was just trading at the bottom (Buying at .005 and selling at .01): there's enough idiots around that you can make a profit trading totally worthless crap.  Never touched them all the time he was paying interest - as they could only  go down in value and was no way to confidently predict when he'd stop paying interest (only that he definitely would once he wasn't selling enough new ones to cover his payments).

[stochastic]

And I wouldn't refer to him reporting it to the police as a "fact" - I'd happily bet that he hasn't reported anything to the police at all. 

If there is no police report number then there is no report.