Nefario

[fcmatt]

This is too bad.  Looks like we really do need a decentralized alternative to GLBSE.

Scammers, poorly thought out biz ideas, and silly investors need a place to go.

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[kuzetsa]

Nefario has, without a shareholder motion and in violation of the bylaws and GLBSE ToS, decided to close down GLBSE. Users will be able to collect deposits only after submitting identity info...

@theymos

Why / when, and where do I submit identity info. Mostly I'm just wanting to be able to prove the "shares" I have in my portfolio to any / everyone I've invested with so that arrangements can be made.

Sorry to single you out directly theymos, but since you have a stake in GLBSE I figured I'd ask you directly... you probably have better inter-communication with all involved parties and whatnot.

[fcmatt]

Why are share holders of this operation getting off free here? Are they not also scammers for participating as owners of this shady operation? Just because they lost a few bucks does not mean they are not also responsible for customer's losses?

Scammer tags all around in my mind.

[Bitcoin Oz]

Nefario plans to use that half-arsed method he used to delist Goat? O M F G

Any Bitcoinglobal shareholder that thinks that is a good idea should never be part of any other business.

No I specifically asked about that. he says it will be a lot easier than Goat. Which makes me think he singled out Goat for special treatment

[chrisrico]

@theymos

Why / when, and where do I submit identity info. Mostly I'm just wanting to be able to prove the "shares" I have in my portfolio to any / everyone I've invested with so that arrangements can be made.

Sorry to single you out directly theymos, but since you have a stake in GLBSE I figured I'd ask you directly... you probably have better inter-communication with all involved parties and whatnot.

Nefario is unfortunately still the CEO (though he stated that he would still shut down GLBSE even if we voted him out), so you'll have to wait for his announcement, probably coming tomorrow.

[likuidxd]

Why are share holders of this operation getting off free here? Are they not also scammers for participating as owners of this shady operation? Just because they lost a few bucks does not mean they are not also responsible for customer's losses?

Scammer tags all around in my mind.

If you owned a few shares of a listing whose owner just up and left, you'd accept a scammer tag for thinking you made a good/decent investment?

[MPOE-PR]

Did i just read that as i setup shop in a back water country with laws that dont care about my little operation?

If you read that your reading comprehension is in the pits.

[odolvlobo]

For one, if there were any legitimate SEC concern they'd have sent word. You don't talk to the small players (ie, GLBSE with it's 10% of the market) without talking to the big players (ie, MPEx, with its 80-90%).

Ahh, self-deprecating humor. I love it! "MPEx, with its 80-90%" haha that's funny!.

[bbit]

I never thought I would say this but I'm starting to think Bitcoin is a scam

[mrandy]

So forgive the stupid question, but what is the status of shares of stock purchased through GLBSE?  I understand that money actually in GLBSE's possession is frozen/lost/being stolen as we speak, but is money invested in securities still with those securities? 

And then, even if they have the money, do they have knowledge of who their stockholders are and a means to communicate, without GLBSE's interface?

[Bitcoin Oz]

So forgive the stupid question, but what is the status of shares of stock purchased through GLBSE?  I understand that money actually in GLBSE's possession is frozen/lost/being stolen as we speak, but is money invested in securities still with those securities?  

And then, even if they have the money, do they have knowledge of who their stockholders are and a means to communicate, without GLBSE's interface?

Supposedly nefario is working on a management console for the existing securities. GLBSE itself holds little cash but if security issuers refuse to AMl they wont get access to their shareholder info.

inb4 extortion.

[kuzetsa]

Nefario is unfortunately still the CEO (though he stated that he would still shut down GLBSE even if we voted him out), so you'll have to wait for his announcement, probably coming tomorrow.

@theymos

oh ok, th.... wait a sec, you're not theymos...

@chrisrico

what's your connection to GLBSE?

Do you know nefario or have something to do with the cgi / database operations, hosting, design, business practices or at least own shares / have a stake in GLBSE?

there's kinda a reason I was asking theymos directly. If for no other reason, becase theymos is a non-minor shareholder in GLBSE, and has probably had a few more good conversations with nefario than I have.

[kuzetsa]

((...snip...))

if security issuers refuse to AMl they wont get access to their shareholder info.

Oh, awesome. Is that all? Do you actually have a reliable non-confidential / public-type source for that statement?

I'll gladly cough up AML-type identification to the security issuers and/or any regulating agencies for my jurisdiction (and that of GLBSE, and of the security issuer) if that's all it takes to un-freze my GLBSE portfolio

[Icoin]

Thanks for the info theymos.

i guess https://cryptostocks.com is the good choise.

[MrTeal]

This is terrible news even for the users who comply with the AML requirements. They might be able to get their deposits back, but without a platform to trade on the majority of securities on GLBSE will be worthless. Some of the bigger ones like ASICMINER and Giga might be able to get set up well enough that an investor that wants out can sell their shares for something approaching their previous value, but I would bet the majority will either just disappear or will honor shares but they'll become essentially worthless.

[Bogart]

Can we finally wake up and realize it's not safe to hold unregulated capital markets in centralized Web services operated by anonymous and quite possibly Nefarious individuals?


There are alternatives.  The truth is out there.

If someone can figure out how to operate anonymous corporations that are nonetheless ethical and is held responsible, they will rake in the dough.

Getting off topic, but I don't think it is possible at this point.

If you are an anonymous entity, no one will trust you.

If you are a known entity, you aren't anonymous.

It's all about the hashes.

[chrisrico]

@theymos

oh ok, th.... wait a sec, you're not theymos...

@chrisrico

what's your connection to GLBSE?

Do you know nefario or have something to do with the cgi / database operations, hosting, design, business practices or at least own shares / have a stake in GLBSE?

there's kinda a reason I was asking theymos directly. If for no other reason, becase theymos is a non-minor shareholder in GLBSE, and has probably had a few more good conversations with nefario than I have.

I'm one of the shareholders for which theymos was attempting to sell shares. I hadn't made this fact public until earlier in this thread.

[likuidxd]

((...snip...))

if security issuers refuse to AMl they wont get access to their shareholder info.

Oh, awesome. Is that all? Do you actually have a reliable non-confidential / public-type source for that statement?

I'll gladly cough up AML-type identification to the security issuers and/or any regulating agencies for my jurisdiction (and that of GLBSE, and of the security issuer) if that's all it takes to un-freze my GLBSE portfolio

Read the F-ing OP. It does't say AML docs but it can be implied. Everything is implied so far...

[chrisrico]

Getting off topic, but I don't think it is possible at this point.

If you are an anonymous entity, no one will trust you.

If you are a known entity, you aren't anonymous.

Silk Road seems to handle this pretty well with it's reputation system. I believe there have been a few scams but an insignificant amount compared to overall volume.

[Shadow383]

Did i just read that as i setup shop in a back water country with laws that dont care about my little operation?

If you read that your reading comprehension is in the pits.

This seems relevant:

Kludge: Maybe it's time you splurged the hefty sum of 20 bitcoin to move over to the one exchange that actually works. By "actually works" I mean charges 1/4 as much per transaction as GLBSE does, is down an infinity percent less and in general has an infinity percent fewer issues, troubles, problems, defects and so forth.

Nefario: You are obviously unqualified to be anywhere near a project of the complexity of an exchange, even for play money (which I suspect BTC are, for most of you here, at least judging on behavior records). I will make you precisely one offer to buy the thing from you, so you get to actually make some money for all your effort over the past year, as misguided and mismanaged as it may have been, rather than have to walk away from a worthless wreck (like Zou Thong/Amir&co have with Bitcoinica). If you have half the maturity you should have to be involved in all this you will take this offer seriously, and consider your options carefully. Feel free to make contact via pm or in #bitcoin-otc-eu.

I suspect you'd get a lot more usage of your exchange (I would certainly use it) if you didn't consistently slander Nefario/GLBSE. Regardless of perceived qualifications, most people don't like working with, and excuse my bluntness, jerks.