Nefario

[Dalkore]

Jesus H. Christ, this thread is still going? The BTC Guild mining thread has been going since like Oct-Nov of 2011 and its only 56 pages last time I checked!

BTC Guild closing down would be insignificant compared to what happened when GBLSE shut-down.  Especially in the manner which it has happened. 

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[mc_lovin]

Jesus H. Christ, this thread is still going? The BTC Guild mining thread has been going since like Oct-Nov of 2011 and its only 56 pages last time I checked!

BTC Guild closing down would be insignificant compared to what happened when GBLSE shut-down.  Especially in the manner which it has happened. 

Whipping a dead horse much!

Ah, until we get our money back the horse will continue to be whipped. 

[LoupGaroux]

And then perhaps the perps behind this particular fraud should be whipped. Publicly in the town square.

[paraipan]

And then perhaps the perps behind this particular fraud should be whipped. Publicly in the town square.

This is starting to sound more like the society our grand-grandfathers lived in, and I'm seeing it with my own eyes.
I could not agree more with this way of solving the issues, feel like having it "programmed" in my genes or something, but we have to tackle the physical presence issue at some point.

[SebastianJu]

Why the h... there still isnt one btc on the way? And no issuer got info till now. What are you doing? Its not that you need to create a script. That doesnt count anymore. So what are you doing?

[CharlesPonzi]

No actual company would list on a black market except black market businesses.

[ShireSilver]

No actual company would list on a black market except black market businesses.

I won't list my actual business (Shire Silver) on a "white market" exchange. My business it totally legal and legit, but it does directly challenge government power (in the same way bitcoin does) so listing on a regulated exchange would be suicidal.

[Dalkore]

I am pretty sure he is not paying at this point.  I hope I am proven wrong.

[Phinnaeus Gage]

I am pretty sure he is not paying at this point.  I hope I am proven wrong.

There's only one option left, and since we know where he lives (image is a link):

[CharlesPonzi]

[burger]

I am pretty sure he is not paying at this point.  I hope I am proven wrong.

There's only one option left, and since we know where he lives (image is a link):

hehe, nice car! how many bitcoins does it cost? =)

[Bitinvestor]

Multisig + nLockTime transactions could do the job. First, we guarantee that the service operator is not able of running away with the money. With nLockTime we guarantee that, even if the operator disappears, the money shall come back to its rightful owners in, say, one month. I guess similar things could be implemented in OT to give the same guarantees concerning the assets.
Obviously, there's a long road to get there. nLockTime is currently not fully supported by the network. AFAIK BitcoinJS doesn't do multisig, and I know no other javascript client that could be easily embedded in a browser. I don't know if OT currently supports multisignature either, nor if there is a javascript OT client. Being honest, multisig isn't really essential. But multisig may also protect the user against a malware in their own computer. I find this important.

There's still an important trust issue that remains unsolved: the asset issuers. Established companies might not dare openly selling their shares in a black market. Actually, I wonder if any non-anonymous company would. And as we know already, trusting an anonymous issuer is a serious issue. There might be ways to overcome this problem too, but it won't be simple.

You can't trust an anonymous issuer, never ever. Somebody might say he needs some money to expand his mining farm and in reality the money goes to the Mafia. They can make up any bullshit that somebody might believe and there's no way to verify it. They might pay interest every week and even if you don't lose any money there's every likelihood that your money will be used for some nefarious purpose instead of what they told you. No thanks.

[Akka]

I am pretty sure he is not paying at this point.  I hope I am proven wrong.

There's only one option left, and since we know where he lives (image is a link):

Ahh, my Media Player froze, I it stuck and a loop and I can't end it.

Someone help me... please.

I ... can't... take... it any more

[SebastianJu]

Multisig + nLockTime transactions could do the job. First, we guarantee that the service operator is not able of running away with the money. With nLockTime we guarantee that, even if the operator disappears, the money shall come back to its rightful owners in, say, one month. I guess similar things could be implemented in OT to give the same guarantees concerning the assets.
Obviously, there's a long road to get there. nLockTime is currently not fully supported by the network. AFAIK BitcoinJS doesn't do multisig, and I know no other javascript client that could be easily embedded in a browser. I don't know if OT currently supports multisignature either, nor if there is a javascript OT client. Being honest, multisig isn't really essential. But multisig may also protect the user against a malware in their own computer. I find this important.

There's still an important trust issue that remains unsolved: the asset issuers. Established companies might not dare openly selling their shares in a black market. Actually, I wonder if any non-anonymous company would. And as we know already, trusting an anonymous issuer is a serious issue. There might be ways to overcome this problem too, but it won't be simple.

You can't trust an anonymous issuer, never ever. Somebody might say he needs some money to expand his mining farm and in reality the money goes to the Mafia. They can make up any bullshit that somebody might believe and there's no way to verify it. They might pay interest every week and even if you don't lose any money there's every likelihood that your money will be used for some nefarious purpose instead of what they told you. No thanks.

Thats why you shouldnt invest in projects that you dont trust fully. But people do. Look at the hyip-world. How many new hyips are bord each week? And really everytime there are people investing to check out if they are valid. They fully know they arent valid but they hope it again and again.

I wouldnt invest from the start. Thats first point. So you can watch the thing a bit how it goes. Then you check if the businessplan sounds correct or not sufficiently explained, if the numbers add up and so on. And then you check what character the issuer shows. Of course he can be a master in his field but a risk remains everytime.

And if the mafia goes into to gain 40.000usd or somewhat? I dont believe that. If such thing earns 400.000 or 4.000.000 then maybe... but then this must be a project sounding fully fine without doubts coming up somewhere and with the possibility to fuel peoples greed. Its not so easy i think to make the mafia pleased with this.

I think mafia will be more interested into the possibility of moving money with bitcoins. Thats probably more matching to them.

[Bitinvestor]

And if the mafia goes into to gain 40.000usd or somewhat? I dont believe that.

They would break your legs for much less than that.

I think mafia will be more interested into the possibility of moving money with bitcoins.

You think but you don't know.

[johnlu]

So... GLBSE guys aren't going to pay, aren't they?

[LoupGaroux]

In spite of your double negative, I believe the point you are making is that the GBLSE perpetrators are unlikely to pay out what is owed.

Probably correct.

Then we get to see how many bitcoins it costs to get somebody kneecapped in Chorley-onBumfuck, Lancashire, UK.

[tvbcof]

In spite of your double negative, I believe the point you are making is that the GBLSE perpetrators are unlikely to pay out what is owed.

Probably correct.

Then we get to see how many bitcoins it costs to get somebody kneecapped in Chorley-onBumfuck, Lancashire, UK.

Ya, ya...that old chestnut.  We hear it every time (to the detriment of Bitcoin) and it won't happen because it makes no sense.  Nothing to gain and a lot to lose.  Not to mention the fact that in this case poor old Nefarious probably didn't really start out with the expressed intention of robbing people but mostly just got in over his head and is trying to make the best of a bad situation that he was too dense to see coming.  Make the best for himself of course, but I personally find that understandable albeit not very laudable.

[mc_lovin]

Well now he has to live the rest of his life with that name and have to look around every corner.

[Bogart]

Well, I had my BTC claim paid today to the claim address, in the full about, a little under 3 hours ago.

I had to look twice to believe it.  I never submitted the "AML" identity data, just the account info and a bitcoin "pay to" address.

Anyone else?