GLBSE closed for good

[tucenaber]

GLBSE has closed up shop. Still no explanation from Nefario though. I'm very curious to hear the story. Does anybody know any details?

I'm sorry to inform all our users that GLBSE is no longer able to continue operating, and has now closed.

Q: What does this mean if I'm an issuer?

We will do everything in our power to make the process of moving off GLBSE as smooth as possible, we are currently working on a simple, safe, and easy to use method that will allow you to continue your relationship with your asset holders

Q:I'm a GLBSE user, what about my assets and my bitcoin?

You will be able to get back your bitcoin, and if you want to reveal your username, email, and a bitcoin address to accept payments with, you can continue your relationship with the issuer of any assets you hold.

We will begin retuning bitcoin once we have recieved all coins from the GLBSE treasurer that manages the GLBSE cash reserves. BitcoinGlobal (GLBSE's partent company) shareholders and board voted for them to be returned immediately, we are awaiting compliance with this order.

[giszmo]

And another bet that can be closed

No seriously, this is bad news for bitcoin Had hoped to raise some funds there myself. No explanations and some nameless "GLBSE treasurer" … doesn't mean they pull a "we got robbed" like so many before. Either way sad story.

[tucenaber]

I just realised there is a much more informative thread bt theymos here

[Sukrim]

Well, I certainly do NOT want my email address in the hands of ANY asset issuer out there, especially not in combination with my username. On the other hand I have outstanding shares that were worth (the last time I checked) ~50+ BTC, so I probably have little choice, as this is a big part of the Bitcoins I hold in total.

F*cked up situation, all in all...

[wuala]

Who can we trust?

[chmod755]

And another bet that can be closed

No seriously, this is bad news for bitcoin Had hoped to raise some funds there myself. No explanations and some nameless "GLBSE treasurer" … doesn't mean they pull a "we got robbed" like so many before. Either way sad story.

Wait a second:

This bet concerns the securities exchange site glbse.com.

For this statement to be false, on November 1 2012 at 12:00 AM UTC, the gblse.com website must be online and accessible to internet users, users must be able to log in, and users must be able to execute both buy and sell trades on the listed securities. At least 5 securities must be listed.

lol http://gblse.com/

[timeshareafrica]

I had the feeling this will happen, this why I moved to Cryptostocks a month ago, some internal mess when they start to refuse timeshareafrica to list and any other insane listing would be accepted.

[Liquid]

Who can we trust?

yourself 

[molecular]

fuck! That's what we get for trying to run things in an "official, legal" manner: shut down.

[viboracecata]

I can not see the future of bitcoin, the confidence of this community will be destroyed by these fucking shits. Can the issuers get back their bonds? What will happened to our assets there?

[tucenaber]

Please. You make it sound like it's the end of bitcoin. It's not. Personally, I'm looking forward to 50+ lulzy pages on the forum when Nefario finally shows up 

[crazy_rabbit]

It's not the end of Bitcoin- was the closing of the "wild west"  (and the wild west banks) the end of the West? Nope. Just the start of something newer, bigger.

I mean seriously- GLBSE was *not* well run.

[segabtc]

So are we gonna get some stupid ass code to verifiy what we had? saying user blah blah blah had x shares of this and y shares of that. WTF man?

[molecular]

I suggest everyone with a hot head do this for 40 days and then come back to this thread.

[mobodick]

fuck! That's what we get for trying to run things in an "official, legal" manner: shut down.

Why would it be official or legal but then be shut down?
If anything this mess means that they operated illegally and unofficially.

[crazy_rabbit]

fuck! That's what we get for trying to run things in an "official, legal" manner: shut down.

Why would it be official or legal but then be shut down?
If anything this mess means that they operated illegally and unofficially.

+1

[conspirosphere.tk]

I had the feeling this will happen, this why I moved to Cryptostocks a month ago, some internal mess when they start to refuse timeshareafrica to list and any other insane listing would be accepted.

sounds legit  

fuck! That's what we get for trying to run things in an "official, legal" manner: shut down.

Why would it be official or legal but then be shut down?
If anything this mess means that they operated illegally and unofficially.

+1

+11

It's not the end of Bitcoin- was the closing of the "wild west"  (and the wild west banks) the end of the West? Nope. Just the start of something newer, bigger.

...and much worse

[crazy_rabbit]

I had the feeling this will happen, this why I moved to Cryptostocks a month ago, some internal mess when they start to refuse timeshareafrica to list and any other insane listing would be accepted.

sounds legit 

fuck! That's what we get for trying to run things in an "official, legal" manner: shut down.

Why would it be official or legal but then be shut down?
If anything this mess means that they operated illegally and unofficially.

+1

+11

It's not the end of Bitcoin- was the closing of the "wild west"  (and the wild west banks) the end of the West? Nope. Just the start of something newer, bigger.

...and much worse

I can't deny that possibility.

[BlackPrapor]

oh, well...at least now I don't feel like I was the last person to find about this...

[tvbcof]

I suspect that up until recently anyone who communicated a hypothesis that GLBSE could be pressured into submission would have been roundly attacked as a paranoid retard who didn't understand the power of the Internet.  In fact I would not be surprised if I could find some good examples vis-a-vis GLBSE itself if I were not to lazy to try.

The thing which bothers me is that the robustness of a lot of Bitcoin related systems, and indeed Bitcoin itself to some extent, is argued on the same general basis.  I have some concern that much of the infrastructure built around Bitcoin could be as weak as GLBSE in the face of various kinds of attacks.  Observations of this shuttering will certainly factor into any system design I might be involved in, and I hope it will for others as well.