general

[MPOE-PR]

Here is the other passthrough - to BitVPS

Glbse passthroughs are irrelevant; there's no volume in that market. You could have had your passthrough shares turned in for the genuine article, in which case you'd be a lot better off.

[Bugpowder]

The only relevant price is the underlying security, not some crappy passthru in an illiquid market (5 day volume of 1.2 bitcoins) that has a spread of 80% of the ask.

Compare it to S.MPOE, (5 day volume of ~3600 bitcoins), current spread of 0.6% of the ask.  3000x the liquidity, 130x smaller spread.

Perhaps this example simply illustrates the power of GLBSE to turn a dividend producing and valuation rising security into a loser.

And pay we did. We paid over 1,000 bitcoins to one guy, 250 to another, we paid over 2,500 bitcoins to cover YARR, and so forth. We paid out significant sums on options contracts, on hardware and power outages to mining companies, and so on and so forth. Yes, we made some money too. It wasn't all loss. Don't forget, we made money on the premiums too. But that's not the point.

As it turned out, it was the general community that failed CPA. People on the board didn't even want their name associated as members.

The problem would be that you've taken in what looks like 20k BTC capital, have paid out ~1k in dividends, ~2k in claims to outsiders and have maybe 10k worth of assets left (could as well be 5k, who knows in a 10 BTC depth "market" such as the Global Scam Exchange).

So now, you've spent 10% of your take in buying credibility as you yourself admit, and that leaves a hole of about 5 to 10k BTC to be shouldered by the community. The community is predictably not happy about this, which you call "it failing CPA". Yes, the community "has failed" some braindamaged scheme which only makes sense if the community were to agree with your own regard of yourself.

As the community pretty much thinks you're dirt, it's obviously not very happy to have poured 60 to 120,000 USD into dirt. Is this really a surprise?

Make people money, they'll like you. Lose their capital, they'll dislike you. Socialite or no socialite, them's the breaks.

You have terminal brain cancer. EVERYTHING lost money. Everything. Unfortunate for you.

In this 4 month interval S.MPOE went from ~10k satoshi a share to ~40k satoshi a share (+300%) and paid out in dividends 76.60729808 + 792.34834548 + 534.33526152 + 619.51519201 + 2,142.90254425 + 293.32991135 = 4,459.03855269 BTC. That's about on the level of the capital you lost.

In the same 4 month interval S.BVPS went from ~220k satoshi a share to ~360k satoshi a share (+50%) and paid 32.165 + 20.165 + 55.55333216 + 35 = 142.88333216 BTC in dividends.

The list goes on and on. Smarten up, you're not yet ready to play the investor with OPM.

If you bought the MPOE passthrough on glbse last month you would have gone from 1.5 to .3 


By your reasoning this is also a scam.

[MPOE-PR]

Actually amusingly enough at some point right after the launch for the S.DICE passthrough the operator couldn't connect to GLBSE or w/e and the price there shot up to 0.007 even though it was pretty clear that in no event would anything over maybe .004 or so make any sense whatsoever.

In short GLBSE is rather poor at pricing things.

[iron77]

Being YARR's customer, I can say Usagi has earned some trust, for me at least, as he paid out all his bonds as promised (same thing about Goat btw, re his insured PPT). I hope at least some other YARR's clients have similar feeling, so it's not really like "no one seems to trust [Usagi]".

[Sukrim]

It may have saved some people's money from your lovely USD based lol-accounting that suggests that a 40% BTC loss = a profit in USD)

For the sake of your shareholders, you should probably close it down. Now. (NYAN, too)

Wait a second - CPA is valued by usagi in USD, but signs contracts (that are actually quite cheap to get) valued in BTC?!
I'd like to have confirmation on that by usagi...

However, I did NOT make money (by far not) with CPA, so I don't really get the following:

Yes, we made some money too. It wasn't all loss. Don't forget, we made money on the premiums too. But that's not the point.

All this says is that some people actually bothered to pay for your service and their contract ended without a default event or other insurance case. In the big picture however it seems you lost money in total and now (since it's not "your" money anyways) lack the initiative to sell more contracts and instead want to realize this loss and close shop. Everyone was very nice to each other and especially pirateat40 as long as he was "profitable", remember? Try to defend him now and watch the sh*tstorm grow by the minute... noone likes to loose money.

In the end I'd say either YES, if you pay out the IPO price as final dividend, leaving shareholders unharmed or NO, if you just want to get out. You carry a responsibility and the Bitcoin community is also larger than this forum, just as a hint.

[Sukrim]

From shareholder perspective it might not be a scam, but at least a badly run business that would have had (and still has imho) much more potential. I mean, you KNOW that defaults might happen, you insured against them... and then you are surprised that they happen more frequently than you thought? Just increase prices for insurance contracts, do stricter contracts and don't pay out on every.single.instance (is there a list somewhere where people claimed to get money from you and if/how much they got?).

[Puppet]

From shareholder perspective it might not be a scam, but at least a badly run business that would have had (and still has imho) much more potential. I mean, you KNOW that defaults might happen, you insured against them... and then you are surprised that they happen more frequently than you thought? Just increase prices for insurance contracts, do stricter contracts and don't pay out on every.single.instance (is there a list somewhere where people claimed to get money from you and if/how much they got?).

Insuring against default is a braindead idea with zero potential. It can not work, it doesnt make any sense. First of all you will just attract scams and ponzi's that will use it to buy themselves some credibility, and you are guaranteed to lose money on it. Secondly, even for legitimate companies its simply stupid.

Example; usagi "insured" bakewell. What it effectively did was collect a % of bakewell's working capital to be paid out if bakewell defaulted.  Think it through; that capital is unavailable to bakewell and is not producing any ROI. If shareholders would buy proportionally less shares in bakewell and keep the difference in their wallets, they would achieve the exact same thing, except they wouldnt be relying on usagi to pay it back (and be able to pay it back), and the funds would be available to them at any point. Why would you want usagi to keep your coins safe for you at zero % interest and with absolutely no guarantee you will ever see them back?

[Puppet]

a. We invested a large chunk into BMF and NYAN, which have not defaulted. In fact, NYAN recently bought back almost all it's shares at 1.
b. We got ~75% of our money back from DeadTerra and
c. We got ~80% of our money back from Starfish Bank
d. We got ~25% of our money back from imsaguy
e. We got 0% of our money back from hashking

So you insured ponzi's and put the insurance premiums in other ponzi's and you are surprised that didnt work out?
ROFL!

[Puppet]

Oh I dont think you are fooling anyone anymore.

As for casting my vote, I did. I voted you can not pay a satoshi in dividends before you made whole all your creditors and customers. Anyone who paid you an insurance fee for an insurance that will no longer exist will have to be reimbursed first and my guess is you are utterly unable to do that, much less have anything left to pay your shareholders.

[Puppet]

Ya but you are a paid troll, so who cares what you think?

I wish someone would pay me for posting the truth.
But you are right, you shouldnt care about what I think. What you should care about is what your customers and creditors think. This isnt about CPA shareholders, there probably is almost no one left at this point except you and your other scams. This is about stealing what little is left of the money that belongs to your customers and creditors.
If you are going to pay yourself these funds owned by others as dividends, before making good on your debts, you will be looking at much more than just a scammer label, you will be looking at legal action and if nothing else, I will make damn sure the SEC hears about it.

[Bitcoin Oz]

Ya but you are a paid troll, so who cares what you think?

I wish someone would pay me for posting the truth.
But you are right, you shouldnt care about what I think. What you should care about is what your customers and creditors think. This isnt about CPA shareholders, there probably is almost no one left at this point except you and your other scams. This is about stealing what little is left of the money that belongs to your customers and creditors.
If you are going to pay yourself these funds owned by others as dividends, before making good on your debts, you will be looking at much more than just a scammer label, you will be looking at legal action and if nothing else, I will make damn sure the SEC hears about it.

If the SEC is investigating pirate and sniffing around glbse it is already fucked so I dont think reporting anyone else is going to matter.

[Puppet]

This is about CPA, not Nyan.

As for not being a scammer; until now, as far as Nyan is concerned, you are not a scammer in the sense that you are trying to walk away with everyone's money pirate style, no. But what you are doing is constantly misleading investors and misrepresenting reality, and as a result, Investors that believe you are getting screwed, time after time.

Why you do that? Its possible you have been funneling funds to cpa, which is a black box, and you will take your profits there by liquidating it. Its also possible, likely even, its by shear incompetence. But I rather think the biggest reason is simply your ego. You dont want to acknowledge all your funds and companies are utter failures. Instead of facing up to that, you keep digging deeper holes and doubling down on bets you already lost. And you are doing so at the expense of your investors, overvaluing stuff by 2x or 10x and  going as far as buying shares (with your investors money) at 10x any reasonable valuation only to delay the inevitable conclusion.

Barely a week ago I wrote this:

NYAN.A I get ~990 BTC, down from 1619 last week -38%
NYAN.B I get ~1500 BTC, down from 1935 last week -22%
NYAN.C is more or less stable.
..

are you using 7 day average and pulling them in dynamically? If so, you now have a good idea what to look forward to next week.

And you lol'ed at it.

This is why you should ignore puppet. He's full of it. NAV of NYAN.A down -38%?

What?

The guy's a looney :p

The looney was right though. You have since shuffled assets between Nyans and bought back bonds, but per share your nav has sunk even further. If you were to transfer assets from B to A to restore its nav to 1 as you are contractually obliged, Nyan.B would have a NAV of 0.24 per share.

[Factory]

Every single person CPA invested money with defaulted or lost huge amounts

This sums it up rather well. Who chose to invest CPA's money with all of those people? Usagi did. Yet Usagi claims no personal responsibility for managing CPA poorly.

[capn noe]

No I did not say "you made money".

I had to re-read this part of the discussion to make sure I understood the context for this.  wow. 

[Bitcoin Oz]

No I did not say "you made money".

I had to re-read this part of the discussion to make sure I understood the context for this.  wow. 

Yeah I was wondering who exactly usagi was saying made money here considering shareholders are meant to share all the profits   

[MPOE-PR]

Every single person CPA invested money with defaulted or lost huge amounts

This sums it up rather well. Who chose to invest CPA's money with all of those people? Usagi did. Yet Usagi claims no personal responsibility for managing CPA poorly.

Nevertheless, this is precisely what WS fund managers think/claim/do. It's a sickness, apparently any gender-confused undereducated and neglected youth catches it by merely pretending to be dabbling in the same thing.

[ciuciu]

Every single person CPA invested money with defaulted or lost huge amounts

This sums it up rather well. Who chose to invest CPA's money with all of those people? Usagi did. Yet Usagi claims no personal responsibility for managing CPA poorly.

Nevertheless, this is precisely what WS fund managers think/claim/do. It's a sickness, apparently any gender-confused undereducated and neglected youth catches it by merely pretending to be dabbling in the same thing.

You really change your mind very fast, porno Mircea. You are invested in both Patrick and Usagi with your CDO.
http://polimedia.us/bitcoin/mpex.php?mpsic=B.MPCD.A

[Deprived]

I don't believe you can just shut CPA down easily.  I assume you still have some insurance policies out (not just the BMF one that you refuse to discuss or honour).  Do all those policies HAVE clauses in allowing you to just cancel without reparation?

If they all can be ended without breach of contract (including if the all the insured will reach settlement for closure where they aren't obligated to) then you CAN close - and probably should.

Otherwise you're obligated to maintain sufficient capital (properly segregated by sector as per CPA's contract) to cover all outstanding policies until they expire.  Anything else would be a default.  Remember, you can change CPA's own contract (with its investors) at any time you like - they agreed to that (last item of the contract).  But you can't unilaterally change any contracts you've signed with insurees (other than with BMF - where you're both sides of the contract and neither side has honoured it anyway).

So I vote : YES if you can without default.  Otherwise struggle on until all contracts have expired - or default if you prefer.

[sgravina]

Your original post answers your question.  You don't enjoy the business and you are losing money.  Get out as gracefully as possible.  Most business fail.  Eventually they all do.

[Bitcoin Oz]

Every single person CPA invested money with defaulted or lost huge amounts

This sums it up rather well. Who chose to invest CPA's money with all of those people? Usagi did. Yet Usagi claims no personal responsibility for managing CPA poorly.

Nevertheless, this is precisely what WS fund managers think/claim/do. It's a sickness, apparently any gender-confused undereducated and neglected youth catches it by merely pretending to be dabbling in the same thing.

Yesterday you were thinking different porno Mircea. You are invested in both Patrick and Usagi with your CDO.
http://polimedia.us/bitcoin/mpex.php?mpsic=B.MPCD.A

Hahahaha, this is PRICELESS.

Patrick defaulted but NYAN.A is long and strong.

We saved Mircea's ass. LOL. I cannot believe this.

I have to admit this is pretty lulzy.