[BTC-TC] Virtual Community Exchange [CLOSED]

[burnside]

I'd suspend it rather than totally delist it.  With criteria for going back live being:

1.  Provide proper accounting for the losses on LHCOIN and the plan going forward.
2.  Sort out the mess with his USD/LTC exchange (he held back payments claiming his PP account was frozen - but then claimed subsequently to have made payments via PP in respect of MOO.COW).  If his account got suspended it's no excuse not to have paid other people 6 months on.
3.  Repay the LTC he personally owes  to MOO.COW plus back dividends.  You may (or more likely may not - seems noone except me remembers it even though the posts detailing it still exist and were quoted so can't be deleted) remember supposedly he borrowed cash from MOO.COW when the previous scammer ran it and allegedly paid back some of that via PP (whilst his PP account being frozen was the excuse for not repaying people who'd sent him PP USD).  But that still left a chunk of what he acknowledges as having personally borrowed  never being repaid.

There's like zero chance he'll pay back but we have to at least pretend he may repay what he owes (only way he will is if he can get more loaned/invested into him - everything I see says he's busto).  In practice all you'll get is excuses and vague promises.  Unfortunately I'm increasingly convinced he was actually working with the other scammer (the schoolkid who launched the security originally) and that the transfer was an intentional attempt to make it a mess to work out who was responsible.  I didn't expect him to default QUITE so fast (I barely cleared my own position profitably in time) - but guess once it became apparent his latest scam dressed up as a security wasn't going to get votes then there ceased to be any benefit to him in making payments.

Loufie (triple B) is next btw.  He's having to steal more blatantly all the time - and will likely default when his next secuirty fails to get approval.  He's been skimming (pretending to solo mine with bad luck/mining for non-existent securities where he has no right/taking the 'development' fund for inappropriate purposes) for a while but recently it's becoming more obvious as the amount he skims becomes a larger percentage of total mined coins.  Probably still a few months before you have to delist his.

I already had a warning up on it that it was in violation of the contract, I've altered it to read:

WARNING -- This asset is in violation of it's contract. Trading will be frozen September 15th.

Please let me know if/when other issuers violate their contracts.  I'll post similar warnings so new buyers don't get sucked in.

[iCEBREAKER]

Something called 'MOO.COW.MINING' was approved for BTCT, and now turns out to be a scam.   

Yet Ice.Drill, a totally legit security, is rejected by the BTCT Board?   

Something is rotten in the State of Denmark!   

[burnside]

Something called 'MOO.COW.MINING' was approved for BTCT, and now turns out to be a scam.  

Yet Ice.Drill, a totally legit security, is rejected by the BTCT Board?    

Something is rotten in the State of Denmark!    

It was on the LTC site actually.  I think things are a bit more laid back over there.

I agree though, it never should have been approved. (hindsight's always 20/20) It's been a learning experience for many.

[dxxw]

"Access temporarily denied."
I got this when I login today.

Has anything like that ever happened to you guys?
What should I do now?

[dxxw]

"Access temporarily denied."
I got this when I login today.

Has anything like that ever happened to you guys?
What should I do now?

Is burnside here?

[Rannasha]

"Access temporarily denied."
I got this when I login today.

Has anything like that ever happened to you guys?
What should I do now?

It happened to me once or twice, for no apparent reason. Just wait 5-10 minutes and try again.

[dxxw]

"Access temporarily denied."
I got this when I login today.

Has anything like that ever happened to you guys?
What should I do now?

It happened to me once or twice, for no apparent reason. Just wait 5-10 minutes and try again.

It worked.Thank you a lot.

[junkonator]

There IS a non-zero chance that 'emma' isn't a scammer (and is just going for a world record in incompetence).  In which case it's scary he has children as his genes will propagate.  But scammer is the odds-on favourite by a mile.

Disclosure : I own nothing issued by 'emma' though I have made a profit trading them profitably for LTC-ATF in the past.  Even when I traded them it was obvious he was a scammer (and I posted saying so) but the idiots around here are SO stupid that you can explain why something's a scam and then sell them it for a profit anyway.  Which is either great or extremely depressing depending on how you look at it.

I lol'ed hard! Moo.Cow has for a long time been my second most profitable security on litecoin-global overall (I obviously had no previous trading experience back then).

It really IS more on the depressing side of things.

[Deprived]

Please let me know if/when other issuers violate their contracts.  I'll post similar warnings so new buyers don't get sucked in.

Well there's LHPOOL - operated by emma (same as MOO.COW).  Stopped paying dividends ages ago then claimed the wallet had been stolen.

LTC-ARCADE - operated by greedi who vanished in January.  That one should be locked as there's not even been any pretence of action on it for over 6 months.

LTC-GAMING - should have a warning on it.  He still pays out occasional tiny dividends but appears to given up any pretence that he's actually doing anything.  There's just occasional pump/dumps on it.

[pascal257]

Please let me know if/when other issuers violate their contracts.  I'll post similar warnings so new buyers don't get sucked in.

LTC-GAMING - should have a warning on it.  He still pays out occasional tiny dividends but appears to given up any pretence that he's actually doing anything.  There's just occasional pump/dumps on it.

He also uses his large amount of shares to manipulate the share price.

[Deprived]

Please let me know if/when other issuers violate their contracts.  I'll post similar warnings so new buyers don't get sucked in.

LTC-GAMING - should have a warning on it.  He still pays out occasional tiny dividends but appears to given up any pretence that he's actually doing anything.  There's just occasional pump/dumps on it.

He also uses his large amount of shares to manipulate the share price.

Yep - the large number of shares that he had no right to take himself in the first place.

[Vysogota]

I have a newbie question about how btc-tc works. I wonder if there is a special form to purchase shares during IPO phase or I just have to place buy order as usual.

I am confused, because there are buy orders for TAT.NEOBEE already, while its IPO is set to start next Friday. What does this mean? Can I place my buy order at IPO price right now? Will it be binding?

Thanks in advance

[Carnth]

I have a newbie question about how btc-tc works. I wonder if there is a special form to purchase shares during IPO phase or I just have to place buy order as usual.

I am confused, because there are buy orders for TAT.NEOBEE already, while its IPO is set to start next Friday. What does this mean? Can I place my buy order at IPO price right now? Will it be binding?

Thanks in advance

You can purchase IPO shares just like normal shares. Just place your bid as usual. You can cancel your bid at anytime before it is filled with no penalty.

[odolvlobo]

I have a newbie question about how btc-tc works. I wonder if there is a special form to purchase shares during IPO phase or I just have to place buy order as usual.

I am confused, because there are buy orders for TAT.NEOBEE already, while its IPO is set to start next Friday. What does this mean? Can I place my buy order at IPO price right now? Will it be binding?

Thanks in advance

There is no real IPO process. An IPO is just the issuer putting all the shares on the market. There are many failed IPOs because the issuer really has no idea how much interest there is until the shares are put on the market.

[pascal257]

I have a newbie question about how btc-tc works. I wonder if there is a special form to purchase shares during IPO phase or I just have to place buy order as usual.

I am confused, because there are buy orders for TAT.NEOBEE already, while its IPO is set to start next Friday. What does this mean? Can I place my buy order at IPO price right now? Will it be binding?

Thanks in advance

There is no real IPO process. An IPO is just the issuer putting all the shares on the market. There are many failed IPOs because the issuer really has no idea how much interest there is until the shares are put on the market.

There's something called Book building. Not that I don't agree with you that some IPOs failed, but even with legit operations you sometimes need book building.

[burnside]

"Access temporarily denied."
I got this when I login today.

Has anything like that ever happened to you guys?
What should I do now?

Is burnside here?

I've answered this 20x before. 

That happens either when someone has been trying to hack your account or you've pissed off our DDoS filter.  Both situations are temporary and reset eventually, the former takes much longer than the latter.

Please let me know if/when other issuers violate their contracts.  I'll post similar warnings so new buyers don't get sucked in.

Well there's LHPOOL - operated by emma (same as MOO.COW).  Stopped paying dividends ages ago then claimed the wallet had been stolen.

LTC-ARCADE - operated by greedi who vanished in January.  That one should be locked as there's not even been any pretence of action on it for over 6 months.

LTC-GAMING - should have a warning on it.  He still pays out occasional tiny dividends but appears to given up any pretence that he's actually doing anything.  There's just occasional pump/dumps on it.

LHPOOL: Posted a warning.  Will halt trading around the 20th if we don't hear from Emma

LTC-ARCADE: Locked.

LTC-GAMING: Hard to argue that there are any outright contract violations.  I am confused as to where the miniscule divs are coming from though.  Contract says they should be coming from the site's revenue...

Cheers.

[pascal257]

LTC-GAMING: Hard to argue that there are any outright contract violations.  I am confused as to where the miniscule divs are coming from though.  Contract says they should be coming from the site's revenue...

I guess that's part of his profit from share price manipulation.

[Deprived]

LTC-GAMING: Hard to argue that there are any outright contract violations.  I am confused as to where the miniscule divs are coming from though.  Contract says they should be coming from the site's revenue...

I guess that's part of his profit from share price manipulation.

His dividends have always been from returning part of capital.

The most obvious contract violation was the transfer of most shares to himself for free.  Contract states they'd be sold at 1 LTC each but only a small portion were - the rest were just transferred to himself and others who were supposedly developing games.

The less obvious contract violation is that there's no evidence that he's actually doing what the funds were raised to do.

[eltopo]

If some BTC-TC mods are around: Please have a look at my ET.DIFF assets, only 2 more YES votes needed!

Thanks!

[burnside]

Unless anyone can think of a very good reason I shouldn't, I'm going to start (soon) including bitcoin withdrawal addresses in the regular asset issuer lists that are emailed out to asset issuers.

Big argument in favor:

- Easier for issuers to continue operations if the site goes dark.  (imagine the work involved in say, DMS.MINING if the site goes dark and Deprived has to email all those users.)

Argument against:

- Gives up some confidentiality.  Everyone holding ASICMINER direct shares is in this position already, so I don't think anyone will care much.


After the change I'll also put a reminder on the portfolio page to ask people to set their withdrawal address, such that the lists the issuers get are more complete.

Cheers.