GLBSE is offline We will update our users on Saturday.

[mc_lovin]

according to wikipedia..

today is "Day of Peace and Reconciliation" (according to some random african country)

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[riX]

*Rant mode ON*

Man, I'm starting to get sick of that shit, seriously. How are you supposed to invest when everything is made to create insecurity? I've put money in pirate, I knew it was somewhat high-risk, and I assume that. But come on, now, you can't even put money into low-risk assets. Assets get delisted at a click of a button, scam accusations everywhere and now, "oh hi, breaking news, GLBSE is offline".

Random asshole:  "Oh, you should have took your money out earlier".

How am I supposed to do that? There's no f*****g volume, there's no buyer except at 0.000000001 BTC because of all the shit. Why somebody whould buy an asset when you have the choice between:
-A website that make instant decisions without any warning (delisting, closing, whatever)
-Another who ask 350$ for registration with more porn than assets on it.

The only investment that was profitable in the last 10 months was buying BTC and sitting on it. What a wonderful way to grow an economy, don't you think?

Anyway, I'm done investing in others projects. I'll build my own.

+10

That was the best post I've read today, totally agree.

[stochastic]

Since IF GLBSE ever comes back online it seems most likely that a panic selling will happen (even more than the BTC price after the Gox hack), I would guess that we are already royally screwed anyway.
Oh well, it's just money.

all existing orders should be canceled before the site comes back up.

This should be the least of our worries.

[tvbcof]

*Rant mode ON*

Man, I'm starting to get sick of that shit, seriously. How are you supposed to invest when everything is made to create insecurity? I've put money in pirate, I knew it was somewhat high-risk, and I assume that. But come on, now, you can't even put money into low-risk assets. Assets get delisted at a click of a button, scam accusations everywhere and now, "oh hi, breaking news, GLBSE is offline".

Random asshole:  "Oh, you should have took your money out earlier".

How am I supposed to do that? There's no f*****g volume, there's no buyer except at 0.000000001 BTC because of all the shit. Why somebody whould buy an asset when you have the choice between:
-A website that make instant decisions without any warning (delisting, closing, whatever)
-Another who ask 350$ for registration with more porn than assets on it.

The only investment that was profitable in the last 10 months was buying BTC and sitting on it. What a wonderful way to grow an economy, don't you think?

Anyway, I'm done investing in others projects. I'll build my own.

Hoarding is a lot easier and safer, and I've got no complaints about how it's working out.

If you've got something of value to trade for BTC, please go to town on your project.  If you just think you are owed a living on the basis of having some BTC to deploy, I personally have little sympathy for ya.  If you've relinquished control of Bitcoin to someone else in this community and they didn't give it back, well, cry me a river.  Eventually people will figure out how dumb that is.  I hope.

[burnside]

Lets all move to litecoinglobal
The service is in beta but it looks already pretty good and admin is committed to his site.

Pfffffffffftch. How about no.

+1  

(we don't want the crazies)

[stochastic]

Lets all move to litecoinglobal
The service is in beta but it looks already pretty good and admin is committed to his site.

Pfffffffffftch. How about no.

+1  

(we don't want the crazies)

What I do like about litecoinglobal is that the asset operators has up-to-date information on their asset holders.  If an exchange shuts down (for any period of time) then the operator can list their asset on another exchange if necessary.

But it looks like Open Transactions is the future.

[Coinoisseur]

*Rant mode ON*

Man, I'm starting to get sick of that shit, seriously. How are you supposed to invest when everything is made to create insecurity? I've put money in pirate, I knew it was somewhat high-risk, and I assume that. But come on, now, you can't even put money into low-risk assets. Assets get delisted at a click of a button, scam accusations everywhere and now, "oh hi, breaking news, GLBSE is offline".

Random asshole:  "Oh, you should have took your money out earlier".

How am I supposed to do that? There's no f*****g volume, there's no buyer except at 0.000000001 BTC because of all the shit. Why somebody whould buy an asset when you have the choice between:
-A website that make instant decisions without any warning (delisting, closing, whatever)
-Another who ask 350$ for registration with more porn than assets on it.

The only investment that was profitable in the last 10 months was buying BTC and sitting on it. What a wonderful way to grow an economy, don't you think?

Anyway, I'm done investing in others projects. I'll build my own.

Hoarding is a lot easier and safer, and I've got no complaints about how it's working out.

If you've got something of value to trade for BTC, please go to town on your project.  If you just think you are owed a living on the basis of having some BTC to deploy, I personally have little sympathy for ya.  If you've relinquished control of Bitcoin to someone else in this community and they didn't give it back, well, cry me a river.  Eventually people will figure out how dumb that is.  I hope.

Problem is all the damage they cause by being dumb. Where are all those people who were mocking critics of Pirateat40? How about some public apologies showing contrition and volunteering time and BTC to attempt to minimize the negative effects? Oh that's right they are mostly full of hot air and manure.

[RandomQ]

Random asshole:  "Oh, you should have took your money out earlier".

Hey no need to call me names.... j/k 

Anyone else expect to get Codes this weekend?

Or GLBSE moving shop to China and reopening for business.

[nimda]

All of these recents scams and fuck-ups are making Bitcoin look like a complete joke. Is there even one single reliable Bitcoin business/service/website out there?

AFAIK TangibleCryptography, the registered LLC which pays taxes, is doing just fine.

Holy bitcoin !

I just sold everything yesterday night and withdrew all my coins; I feel lucky for once.

Sigh.. I knew I should have sold my assets this week 

When Nefario delisted Goat's assets, I ran away really quickly.

Lets all move to litecoinglobal
The service is in beta but it looks already pretty good and admin is committed to his site.

Pfffffffffftch. How about no.

+1 

(we don't want the crazies)

What I do like about litecoinglobal is that the asset operators has up-to-date information on their asset holders.  If an exchange shuts down (for any period of time) then the operator can list their asset on another exchange if necessary.

But it looks like Open Transactions is the future.

I guess so.

[repentance]

I've put money in pirate, I knew it was somewhat high-risk, and I assume that. But come on, now, you can't even put money into low-risk assets. Assets get delisted at a click of a button, scam accusations everywhere and now, "oh hi, breaking news, GLBSE is offline".

There are no "low-risk assets".  Every single Bitcoin service which takes user funds for investment or exchange is at risk of being shut down or having their cash flow interrupted due to regulatory issues or the domino effect of other services collapsing.  People need to stop pretending they don't know that.  

Every single time you leave your BTC or your local currency on a BTC service you are doing so knowing that recovering your funds will be difficult and/or costly in the event that the service fails due to incompetence or external factors.  What Bitcoin business so far has failed due to factors which could not have been foreseen?

[Namworld]

Random asshole:  "Oh, you should have took your money out earlier".

Hey no need to call me names.... j/k 

Anyone else expect to get Codes this weekend?

Or GLBSE moving shop to China and reopening for business.

I expect GLBSE v.3 being rolled out OR current assets to be moved to a black market (GLBSE will turn to regulated market) OR a lengthy wait as the SEC and FSA works on clawing back funds from people who profited from BS&T's passthrough. Because with financial scams like Pirate's ponzi, that's what they tend to do. Clawbacks.

[drekk]

To add a little to the FUD:
It is interesting to observe who else is not commenting on the issue. I'm missing some well known forum trolls members.

Makes you think?

[greyhawk]

To add a little to the FUD:
It is interesting to observe who else is not commenting on the issue. I'm missing some well known forum trolls members.

Makes you think?

usagi drank him/herself into a stupor earlier today after the closedown. It's in one of her/his million threads.

[DutchBrat]

Hoarding will destroy the value of Bitcoin... assume for a second that everybody just hoards their coins... then there is really no use for Bitcoin and therefore no value

We need an economy to accept Bitcoin for it to retain/gain value

I am really surprised with all the sh*t that's been going on lately that BTC is still valued above $12

i guess we have all the pot smokers on Silk Road to thank for that

[repentance]

I expect GLBSE v.3 being rolled out OR current assets to be moved to a black market (GLBSE will turn to regulated market) OR a lengthy wait as the SEC and FSA works on clawing back funds from people who profited from BS&T's passthrough. Because with financial scams like Pirate's ponzi, that's what they tend to do. Clawbacks.

While it's true that there's usually an attempt to claw back large payments (it's usually not cost effective to pursue claw back of smaller ones), that's not usually a rapid process.  Nor would that alone require GLBSE going offline - they'd need information from Nefario about who was operating the PPTs, how much was traded through them and who received payments from them, but that wouldn't require taking GLBSE offline.

I agree with others that the lack of advance notice and the vagueness of the announcement suggests legal issues.  I suspect that if GLBSE comes back online in the near future, those legal issues will be reflected in how it operates from now on and that people probably aren't going to like any changes Nefario makes to keep the service operating.

usagi drank him/herself into a stupor earlier today after the closedown. It's in one of her/his million threads.

usagi investing in or endorsing any product is a kiss of death.  One could probably make a decent return by doing the exact opposite of what usagi is doing/promoting.

[drekk]

It is interesting to observe who else is not commenting on the issue. I'm missing some well known forum trolls members.

usagi drank him/herself into a stupor earlier today after the closedown. It's in one of her/his million threads.

Yea, I witnessed the "breakdown" on IRC. You're probably right: The whole bunch is wasted atm. One side for throwing away their "life savings", the other side all partying and swag and shit. On a boat.

[greyhawk]

It is interesting to observe who else is not commenting on the issue. I'm missing some well known forum trolls members.

usagi drank him/herself into a stupor earlier today after the closedown. It's in one of her/his million threads.

Yea, I witnessed the "breakdown" on IRC. You're probably right: The whole bunch is wasted atm. One side for throwing away their "life savings", the other side all partying and swag and shit. On a boat.

Probably goes something like this: http://vimeo.com/18848658

[pyrkne]

Maybe I'm naive, but I think investing is a noble thing to do.

Damn straight. Real world economies would have a little less trouble these days if the ultra-wealthy of the world actually moved that money around rather than sit on it.

[Korbman]

I agree with others that the lack of advance notice and the vagueness of the announcement suggests legal issues.  I suspect that if GLBSE comes back online in the near future, those legal issues will be reflected in how it operates from now on and that people probably aren't going to like any changes Nefario makes to keep the service operating.

I hate to say it, but you're probably right. The reason I went to GLBSE in the first place was not only for it's attractiveness, ease of use (compared to other exchanges), and popularity, but also because you could work on your business / IPO without the red tape found under normal, real world, government regulated exchanges. To bring in the FSA and UK laws means that, sure, there won't be any more scams (or at least harder to spot), but there would be increased fees and a lot more time and BS to wade through.

Makes me wonder if it's a better option to drop $350 and work with MPEx or figure out some feasible way to work with LitecoinGlobal....

[Korbman]

Maybe I'm naive, but I think investing is a noble thing to do.

Damn straight. Real world economies would have a little less trouble these days if the ultra-wealthy of the world actually moved that money around rather than sit on it.

Investing does actually have economic benefits..assuming we're talking long term investments versus day trading the shit out of a stock. Just like here in the community and under our own exchanges, investing allows the community to support various business ventures, which in turn helps to expand and promote not only the business, but bitcoin as well.