bixcoin (OP)
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Bixcoin Superdouche
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October 28, 2012, 01:15:54 PM |
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You must be kidding? Misappropriation of funds is a crime and should be punished by law. Nothing to do with GLBSE beeing illegal. He just ran away with our funds. Thats how I see it.
From what I understand he passed these funds through to fraudulent asset issuers. He was just a middleman. It's a bad idea, but he didn't really profit that much himself. I hope we can identify and pursue the asset issuers to recover the investors' money. If he doesn't pay back a dime nefario won't get anything out of this. Perhaps a couple thousand bitcoins, but thats less than a years salary for a normal person. Ideally you would pursue the asset issuer. If they can't be located I guess we can assume it is nefario. I really cant see why you are taking his side here. He is it who fucked up! Actually I had a balance of 250BC in my account and its gone. Nothing to do with any asset issuers. Also the asset issuers did not much wrong. Maybe in legal terms, but it actually could be seen as just a way of crowdfunding. Thing is they can't do anything, guess why? Because Nefario fucked up! Thats right! He didnt even contact them yet. And he's the only one who had the data of asset owners.
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galambo
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October 28, 2012, 03:41:26 PM Last edit: October 28, 2012, 07:40:44 PM by galambo |
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I really cant see why you are taking his side here. He is it who fucked up! Actually I had a balance of 250BC in my account and its gone. Nothing to do with any asset issuers. Also the asset issuers did not much wrong. Maybe in legal terms, but it actually could be seen as just a way of crowdfunding. Thing is they can't do anything, guess why? Because Nefario fucked up! Thats right! He didnt even contact them yet. And he's the only one who had the data of asset owners.
crowdfunding what? Why would you have money in GLBSE? Every single one of its assets was some sort of ponzi scheme or fraud. You probably deserve to lose your 250 BTC because you're dumb for even having it on the GLBSE in the first place. I'm taking nefario's side only out of recognition that he was attempting to tackle a technical problem. His misfortune was his incompetence. He didn't realize it was completely illegal and couldn't execute GLBSE properly. He didn't keep good enough records to unwind the service when it came time.
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zefir
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October 28, 2012, 10:34:16 PM |
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crowdfunding what? Why would you have money in GLBSE? Every single one of its assets was some sort of ponzi scheme or fraud.
[...]
This is not exactly true. Maybe half of the assets issued and traded at GLBSE have been mining bonds (/me operating one of them), with the collected coins from IPO being used to crowd-fund mining equipment. Or funding ASIC developments (like ASICMINER). True that the other half of Bitcoin economy was build around Pirate directly (via PPT) or indirectly (investment funds, insurances, etc.), but I'd refuse to accept that those constructs have been set up and operated to fraud investors intentionally. We had some sort of euphoric phase where the majority of investors assumed that 1.5% weekly returns are doable in long term - an unquestionable indication that we were in a bubble that was going to burst. Nefario closing down GLBSE only shorten what was inevitable (after Pirate collapsing and taking half of the economy with him), but his chosen way to put this to an end effectively harmed the honest people and favoured those with dishonest intentions. Look into the securities section and check who is establishing direct dealings with their investors to pay back their obligations... All others got a great opportunity to wash their hands of responsibility claiming they can't do much without their investor's data ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) I personally lost more to Pirate than I did with GLBSE, but the later incident shook my confidence in the Bitcoin scene way more: while I was just stupid and greedy enough to give my hard earned coins to Pirate (i.e. it was my responsibility and I kind of deserved what I got), loosing coins with the GLBSE fiasco just left one impression: whom can I trust if not Nefario (who has been one of a handful community members many of us blindly trusted)? What a pity.
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bixcoin (OP)
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Bixcoin Superdouche
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October 29, 2012, 02:58:47 AM |
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I really cant see why you are taking his side here. He is it who fucked up! Actually I had a balance of 250BC in my account and its gone. Nothing to do with any asset issuers. Also the asset issuers did not much wrong. Maybe in legal terms, but it actually could be seen as just a way of crowdfunding. Thing is they can't do anything, guess why? Because Nefario fucked up! Thats right! He didnt even contact them yet. And he's the only one who had the data of asset owners.
crowdfunding what? Why would you have money in GLBSE? Every single one of its assets was some sort of ponzi scheme or fraud. You probably deserve to lose your 250 BTC because you're dumb for even having it on the GLBSE in the first place. I'm taking nefario's side only out of recognition that he was attempting to tackle a technical problem. His misfortune was his incompetence. He didn't realize it was completely illegal and couldn't execute GLBSE properly. He didn't keep good enough records to unwind the service when it came time. Sure, that's what I expected from you. Blame the victim for stupidity. Nothing more to say.
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galambo
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October 29, 2012, 03:34:35 AM Last edit: October 29, 2012, 04:00:16 AM by galambo |
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Sure, that's what I expected from you. Blame the victim for stupidity. Nothing more to say.
Sorry. I wasn't expecting you to take it personally. Initially I was thinking this was a cheap lesson, but now I think 250 BTC may be a significant amount of money to you. Clicking through your posts I see you live in Brazil. Not that it should matter, because for many people in the US this is a significant amount of money. In the US there are more opportunities and so we have less reasons to complain. I'm tired of reading this entitled whining from people who can likely replace their money. I'm sorry for your loss and hope James does return this money.
However, with a market where transactions are irreversible more care must be taken with who we deal with. On the whole, this community needs to do a lot more blaming the victim until this sentiment sticks.
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stochastic
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October 29, 2012, 04:08:04 AM |
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I don't see how GLBSE has any different legal consequences as other virtual currency denominated exchanges like on Second Life, which has an economy much larger than the bitcoin economy. Having said that, if I played Second Life and my Linden Dollars or other virtual goods I purchased using Linden Dollars was stolen due to the negligence of some operator, I would complain at any level. Most people did not have a large cost to play on GLBSE so their only opportunity would be class action suits with others. Since these do not exist in the United Kingdom and virtually impossible anyway for those not in the same country, a better strategy would be to file complaints with government entities such as the Bureau of Consumer Protection. I believe it is best to allow those government entities take over the collection procedure. I know I will be filing complaints on GLBSE partners that reside in my country.
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Introducing constraints to the economy only serves to limit what can be economical.
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MooC Tals
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October 29, 2012, 05:10:37 AM |
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crowdfunding what? Why would you have money in GLBSE? Every single one of its assets was some sort of ponzi scheme or fraud.
[...]
This is not exactly true. Maybe half of the assets issued and traded at GLBSE have been mining bonds (/me operating one of them), with the collected coins from IPO being used to crowd-fund mining equipment. Or funding ASIC developments (like ASICMINER). True that the other half of Bitcoin economy was build around Pirate directly (via PPT) or indirectly (investment funds, insurances, etc.), but I'd refuse to accept that those constructs have been set up and operated to fraud investors intentionally. We had some sort of euphoric phase where the majority of investors assumed that 1.5% weekly returns are doable in long term - an unquestionable indication that we were in a bubble that was going to burst. Nefario closing down GLBSE only shorten what was inevitable (after Pirate collapsing and taking half of the economy with him), but his chosen way to put this to an end effectively harmed the honest people and favoured those with dishonest intentions. Look into the securities section and check who is establishing direct dealings with their investors to pay back their obligations... All others got a great opportunity to wash their hands of responsibility claiming they can't do much without their investor's data ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) I personally lost more to Pirate than I did with GLBSE, but the later incident shook my confidence in the Bitcoin scene way more: while I was just stupid and greedy enough to give my hard earned coins to Pirate (i.e. it was my responsibility and I kind of deserved what I got), loosing coins with the GLBSE fiasco just left one impression: whom can I trust if not Nefario (who has been one of a handful community members many of us blindly trusted)? What a pity. Probably the most lucid post here. 1) You all want to stick it to the tax man and then run to the law when you all get fucked? Seriously wtf is going on here? To make this anymore simple allow me to add my 2 cents. 2)Anyone have a receipt that you have payed tax that grants you an audience in a court of law? 3)The same law you all decided to circumvent? 4)The same law you all cry to now? Please
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bixcoin (OP)
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Bixcoin Superdouche
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October 29, 2012, 11:01:03 AM |
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As I said before: I only file my tax report for this year next year. Also I did not have any winnings at all concerning bitcoins, so I dont even have to spell it out.
Second: According to your logic, nobody who has ever hidden some income from his tax report should be allowed to file any complaint against any crime. Weird world you're living in. Sounds like Jesus' the "throw the first stone" philosophy, but this just doesnt work in the real world! In legal philosophy, one of the main reasons to punish someone who has done wriong is to avoid this happening too often. I can't see how this shouldnt be applied to bitcoin. Also has nothing to do with the innocence of whom is throwing the first stone.
Actually a conclusion of your statement would be, since we all use underground currency, and did underground things, we should use underground law enforcement if somebody steals ur coins. Thats how it works in brazilian favelas. Though it seems to work quite well (hardly anyone stealing there) that was not the way I wanted to go. Feel free to do so if you wish.
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conspirosphere.tk
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Bitcoin is antisemitic
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October 29, 2012, 05:33:41 PM |
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1) You all want to stick it to the tax man and then run to the law when you all get fucked? Seriously wtf is going on here?
No. I personally am strongly in favor of sorting out matters privately. So in my perspective we should try to find an effective way for that. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fencrypted-tbn2.gstatic.com%2Fimages%3Fq%3Dtbn%3AANd9GcR_4gKIY10n4zWIXwYGyFW2nbOwRpgZie_dXP6OiAD47KlpP2ET&t=665&c=1hXQG-Gw2Sg9VA)
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MooC Tals
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October 29, 2012, 07:15:49 PM |
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@bixcoin
"We had some sort of euphoric phase where the majority of investors assumed that 1.5% weekly returns are doable in long term - an unquestionable indication that we were in a bubble that was going to burst. Nefario closing down GLBSE only shorten what was inevitable (after Pirate collapsing and taking half of the economy with him)"
Thats a quote from galambo
I find it interesting everyone who took part in this never questioned where the magic bit coins where coming from.
Every time I part took in anything shady I would get burnt.
Besides we all participate in this IDEA of honest money called Bitcoin because government is ripping us off with inflation and then as soon as we are all off their leash we participate in these money making schemes.
Yet we always convince ourselves that its justified at the time, however if we get burned we find it always unexpected.Now to be fair I don't have skin in the game but I have been there many times. I also would not like to be compared to Jesus however he also never did like the money changers either.
Mining and selling your coins is honest money.Paying your taxes is also honest. Gambling is not honest money imo
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bixcoin (OP)
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Bixcoin Superdouche
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October 29, 2012, 09:19:41 PM |
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@bixcoin
"We had some sort of euphoric phase where the majority of investors assumed that 1.5% weekly returns are doable in long term - an unquestionable indication that we were in a bubble that was going to burst. Nefario closing down GLBSE only shorten what was inevitable (after Pirate collapsing and taking half of the economy with him)"
Thats a quote from galambo
I find it interesting everyone who took part in this never questioned where the magic bit coins where coming from.
Every time I part took in anything shady I would get burnt.
Well, I did. Its pretty simple: The price of the stocks would continually go down and you would be paid small amount each day/week. In the end you made 1.5% interest a week but did only get back a small part of your investment. No good business, but also no big rip off because summed up you might get something like 90 to 100% of your investment. But thats not even the question here. Its not those businesses giving out stocks that went down. I would totally understand if the stocks price is going down 99% and I did only loose there. Its my problem believing the hype and get burned by a bubble. But what happened here is that the issuers actually do want to pay out. They just dont have any data of the former stocks owners because Nefario fucked up! He has full responsibility for that.
Besides we all participate in this IDEA of honest money called Bitcoin because government is ripping us off with inflation and then as soon as we are all off their leash we participate in these money making schemes.
Yet we always convince ourselves that its justified at the time, however if we get burned we find it always unexpected.Now to be fair I don't have skin in the game but I have been there many times. I also would not like to be compared to Jesus however he also never did like the money changers either.
Mining and selling your coins is honest money.Paying your taxes is also honest. Gambling is not honest money imo
Well, unlike you, I have no ideologic hope for the Bitcoin. I dont see it as a counterpart to inflated governemtent money. For me its just a new technology filling a gap. It might get under though because, as seen live, unregulated money attracts many bad people. Funny that you then even say the problem is the greed of the victims and not the stealing and ripping off in the first place. Letting ideology beside its simple: In any unregulated group, people do bad stuff. Thats why there always was and will be some kind of law. Gambling not beeing honest money is really just your opinion, but if mining is ok, what about the mining funds like gigamining that were listet on GLBSE? All the assets gone under thanks to Nefario. You think its not honest to put together money for mining?
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bixcoin (OP)
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Bixcoin Superdouche
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October 29, 2012, 09:27:37 PM |
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1) You all want to stick it to the tax man and then run to the law when you all get fucked? Seriously wtf is going on here?
No. I personally am strongly in favor of sorting out matters privately. So in my perspective we should try to find an effective way for that. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fencrypted-tbn2.gstatic.com%2Fimages%3Fq%3Dtbn%3AANd9GcR_4gKIY10n4zWIXwYGyFW2nbOwRpgZie_dXP6OiAD47KlpP2ET&t=665&c=1hXQG-Gw2Sg9VA) what do you mean? Are you not anymore in favor of legal charges?
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conspirosphere.tk
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Bitcoin is antisemitic
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October 30, 2012, 10:43:02 AM |
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1) You all want to stick it to the tax man and then run to the law when you all get fucked? Seriously wtf is going on here?
No. I personally am strongly in favor of sorting out matters privately. So in my perspective we should try to find an effective way for that. what do you mean? Are you not anymore in favor of legal charges? I am, but I see that as a second rate choice in terms of chances, efficiency, and speed of a resolution -especially in BTC matters. Moreover, as you see there is always some genius who assumes that recurring to the violent arm of the law is something that you get from the state "for free" (!). Sorry, but nobody ever asked me if I liked to live under a monopoly of violence by someone else, so if that system gives me something, it does not pay even a fraction of my freedom, and anyway I already paid 1000 times for whatever I get from it by direct and indirect taxes.
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MooC Tals
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October 30, 2012, 06:08:18 PM |
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@bixcoin
"We had some sort of euphoric phase where the majority of investors assumed that 1.5% weekly returns are doable in long term - an unquestionable indication that we were in a bubble that was going to burst. Nefario closing down GLBSE only shorten what was inevitable (after Pirate collapsing and taking half of the economy with him)"
Thats a quote from galambo
I find it interesting everyone who took part in this never questioned where the magic bit coins where coming from.
Every time I part took in anything shady I would get burnt.
Well, I did. Its pretty simple: The price of the stocks would continually go down and you would be paid small amount each day/week. In the end you made 1.5% interest a week but did only get back a small part of your investment. No good business, but also no big rip off because summed up you might get something like 90 to 100% of your investment. But thats not even the question here. Its not those businesses giving out stocks that went down. I would totally understand if the stocks price is going down 99% and I did only loose there. Its my problem believing the hype and get burned by a bubble. But what happened here is that the issuers actually do want to pay out. They just dont have any data of the former stocks owners because Nefario fucked up! He has full responsibility for that.
Besides we all participate in this IDEA of honest money called Bitcoin because government is ripping us off with inflation and then as soon as we are all off their leash we participate in these money making schemes.
Yet we always convince ourselves that its justified at the time, however if we get burned we find it always unexpected.Now to be fair I don't have skin in the game but I have been there many times. I also would not like to be compared to Jesus however he also never did like the money changers either.
Mining and selling your coins is honest money.Paying your taxes is also honest. Gambling is not honest money imo
Well, unlike you, I have no ideologic hope for the Bitcoin. I dont see it as a counterpart to inflated governemtent money. For me its just a new technology filling a gap. It might get under though because, as seen live, unregulated money attracts many bad people. Funny that you then even say the problem is the greed of the victims and not the stealing and ripping off in the first place. Letting ideology beside its simple: In any unregulated group, people do bad stuff. Thats why there always was and will be some kind of law. Gambling not beeing honest money is really just your opinion, but if mining is ok, what about the mining funds like gigamining that were listet on GLBSE? All the assets gone under thanks to Nefario. You think its not honest to put together money for mining? Casinos that pay tax are honest and the ones that don't are dishonest. Right? If we think casinos are honest, why didn't we just go to Vegas and gamble instead of investing in Nef's speculation. I guess we thought it was honest and feasible at 1.5% a week. The difference here is we thought we're the "House" where at Vegas we're not. I'm not judging anyone here If I were to get in to bit-coins when you guys got in I probably would have tried it as well. Its just that I would have figured that it was a gamble. Just like a casino that don't pay tax.
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Bitcoin Oz
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November 05, 2012, 09:05:29 PM |
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crowdfunding what? Why would you have money in GLBSE? Every single one of its assets was some sort of ponzi scheme or fraud.
[...]
This is not exactly true. Maybe half of the assets issued and traded at GLBSE have been mining bonds (/me operating one of them), with the collected coins from IPO being used to crowd-fund mining equipment. Or funding ASIC developments (like ASICMINER). True that the other half of Bitcoin economy was build around Pirate directly (via PPT) or indirectly (investment funds, insurances, etc.), but I'd refuse to accept that those constructs have been set up and operated to fraud investors intentionally. We had some sort of euphoric phase where the majority of investors assumed that 1.5% weekly returns are doable in long term - an unquestionable indication that we were in a bubble that was going to burst. Nefario closing down GLBSE only shorten what was inevitable (after Pirate collapsing and taking half of the economy with him), but his chosen way to put this to an end effectively harmed the honest people and favoured those with dishonest intentions. Look into the securities section and check who is establishing direct dealings with their investors to pay back their obligations... All others got a great opportunity to wash their hands of responsibility claiming they can't do much without their investor's data ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) I personally lost more to Pirate than I did with GLBSE, but the later incident shook my confidence in the Bitcoin scene way more: while I was just stupid and greedy enough to give my hard earned coins to Pirate (i.e. it was my responsibility and I kind of deserved what I got), loosing coins with the GLBSE fiasco just left one impression: whom can I trust if not Nefario (who has been one of a handful community members many of us blindly trusted)? What a pity. Probably the most lucid post here. 1) You all want to stick it to the tax man and then run to the law when you all get fucked? Seriously wtf is going on here? To make this anymore simple allow me to add my 2 cents. 2)Anyone have a receipt that you have payed tax that grants you an audience in a court of law? 3)The same law you all decided to circumvent? 4)The same law you all cry to now? Please Remember that Nefario himself was the one who approached the "law". In reality he should have run it the same as silk road and not try to be a fucking glory hound.
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MoonShadow
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November 05, 2012, 09:18:09 PM |
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You must be kidding? Misappropriation of funds is a crime and should be punished by law. Nothing to do with GLBSE beeing illegal. He just ran away with our funds. Thats how I see it.
From what I understand he passed these funds through to fraudulent asset issuers. He was just a middleman. It's a bad idea, but he didn't really profit that much himself. Which is something that happens in teh investing world regularly. It happened to a union controlled pension fund I belong to twice. The problem is that con artists at this level are very good, and fund managers are terriblely inexperienced. My union pension fund never got a dime back, and never will. This has almost nothing to do with the questionable legal nature of the exchange, but you guys got f*cked and the best outcome that you can expect is to learn from this experience and not gamble with funds that you cannot afford to lose with amature fund managers beyond your ability to punish for wrongdoing.
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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Herodes
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November 09, 2012, 03:25:17 PM |
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I have followed the latest scams in this community and actually always found it ridiculous how people are being ripped off and do nothing but discuss about a scammer tag.
This time I myself lost some coins and also access to some assets. As for now, GLBSE didnt contact me, promised on their site to reveal whats going on and didnt, promised to pay out and didnt. Nobody has any clear information and I call this a major fraud. My bitcoins are gone, the company I left them with is unreachable. That's reason enough to file a legal case.
I would like to gather with other victims of this scam, put some money together, pay a lawyer and see that we get the most out of it. Also I would like to gather personal data of people responsible, like nefario and other. So any information about their full name, adress, complices, please public in this thread if you agree with me.
It's been a week now, several promises broken, and such an unprofessional politic of information makes it more and more unlikely that anybody gets anything back by waiting. Also Nefario made money with his business. It's not like he did us a favor and it went wrong and we should be pacient. He had a business running, it went wrong and he gave us a "f..k u all, I better safe my ass". Wake up people, you have been ripped of! Take action!
I find fear to be a good factor at times. Like in poker, a good bluff may lead people to give you what you want.
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