Should Giga be tagged as a scammer?

[vrtrasura]

My bad, I too was responding to Giga (sorry).

[1715266320]

1715266320

[Martin666]

I still do not understand, why GIGA did not get a scammer tag !
He still continues his dirty business !

[vrtrasura]

Reposted.

This was the old contract:

Hello fellow bitcoiners,

Off the back of the glbse 2.0 release and with a soon to be influx of mining equipment, I am proud to release the first and ONLY 5Mh/s perpetual mining bond.

Introduction:
Mining assets are becoming extremely common on the GLBSE. We have companies that offer ownership of hardware, bonds that correlate to actual hash rate. But overall nothing too exciting, too large, or too profitable.

Until now.
Introducing Gigamining! http://gigamining.com/

The ONLY 5Mh/s perpetual mining bond.

The first bond to offer more than 2 Mh/s per bond, and run by a name you know has the hashes to back it up.

Summary:
There will be a total of 10,000 bonds issued, with each bond worth a massive 5 Mh/s.

During the initial offering of 1000 bonds the 500 bonds remaining will be sold on 4/10/2012, they will be sold for a cheap 1 BTC. All maintenance free.

Bulk pre-sales of 100 or more units can be made at the 1 BTC price BEFORE the IPO on 4/10. PM me to get started.

Each bond will pay 100% of PPS earnings every 7 days.

The bond will never expire.

I reserve the option to repurchase bonds at 105% of the highest traded price over the last 15 days.

About Me
Most of you know who I am, most of you know I have the ability to deliver this kind of power. I'm not going anywhere any time soon, so trust that your coin is safe, and doing its best work for you, here. If you have any questions, ask them in the thread.

Where is 50Gh going to come from?
- I currently run 33Gh in GPUs (undervolted and underclocked to 26.5Gh for the summer)
- I also run 11 Butterfly Labs singles @ 9.1Gh
- Soon 4 mini rig boxes will arrive with a total of 100Gh of mining capacity.

You can see the farm mining at anytime at http://gigamining.com/mgpumon/

Best,
gigavps



The new contract is so far from this.  I want a refund.  I was originally going to pay for an upgrade before GLBSE shut down, I was very impressed by giga back then.  Notice the following.  The original contract that we bought rights to says perpetual, the new contract is limited.  The original contract said maintenance free, the new one pays for it.  Add in that giga ends up our address/identity. Oh, and even if you don't hold many shares you have to pay notaries to get them back.  Finally we can't give our claim rights to anyone else.  If anyone wants to claim my shares I would be willing to handle all emails associated with my glbse address. 

[SAC]

I still do not understand, why GIGA did not get a scammer tag !
He still continues his dirty business !

From what I have seen all depends on who you know around here. What would get others tagged in a heartbeat don't seem to apply to him.

[camolist]

From what I have seen all depends on who you know around here. What would get others tagged in a heartbeat don't seem to apply to him.

giga and bitbond are above rules

they can steal all they want and continue to operate on the forum with no consequences

[toffoo]

It's Theymos who decides ultimately:

I've decided that gigavps will not get a scammer tag for this. Nefario has proven himself to be untrustworthy, so it would be unreasonable for gigavps to pay out large sums of money based entirely on Nefario's list. Requiring affidavits and proofs of identity are reasonable precautions. It's impossible to strictly follow the contract in a safe way.

A bit of democracy would be appreciated here.

This thread is over 3 months old now, with 208 posts, and 117 'yes' votes (70.9%) calling for the SCAMMER tag ... and still no SCAMMER tag.  So what's up?

Regarding theymos's "decision" quoted above, my big problem is the following: why was Nefario's lists good enough for pretty much every other GLBSE listing to sort out ownership, but not for GIGAMINING?   Why was reclaiming every other GLBSE share I owned a relatively prompt and painless process, but not for GIGAMINING?

[randomguy7]

I bought 300 freaking shares directly from giga for 1.5 btc each. He refuses to continue business with me under the terms we both agreed on.
Instead of reverting the deal by paying my money back (450 - paid out dividens) he keeps my money hostage. He doesn't need my ID and stuff to revert the deal. He's the one who refuses to continue business.

Now tell me exactly how this is not scamming.

No I don't want to file a claim, I want my dividends paid out or my money back.

[jamesg]

I bought 300 freaking shares directly from giga for 1.5 btc each. He refuses to continue business with me under the terms we both agreed on.
Instead of reverting the deal by paying my money back (450 - paid out dividens) he keeps my money hostage. He doesn't need my ID and stuff to revert the deal. He's the one who refuses to continue business.

Now tell me exactly how this is not scamming.

No I don't want to file a claim, I want my dividends paid out or my money back.

Please submit a claim and you will be paid.

GLBSE is not around specifically because of AML/KYC issues surrounding their activities. In order to continue, VPS must know who it is dealing with.

No payments can be made without a claim whether they be refunds or back payments.

[randomguy7]

I bought 300 freaking shares directly from giga for 1.5 btc each. He refuses to continue business with me under the terms we both agreed on.
Instead of reverting the deal by paying my money back (450 - paid out dividens) he keeps my money hostage. He doesn't need my ID and stuff to revert the deal. He's the one who refuses to continue business.

Now tell me exactly how this is not scamming.

No I don't want to file a claim, I want my dividends paid out or my money back.

Please submit a claim and you will be paid.

GLBSE is not around specifically because of AML/KYC issues surrounding their activities. In order to continue, VPS must know who it is dealing with.

No payments can be made without a claim whether they be refunds or back payments.

You won't be dealing with me after you've reverted the whole thing.

[conspirosphere.tk]

Please submit a claim and you will be paid.

1. I don't want to be paid. I demand MY BTC back.

GLBSE is not around specifically because of AML/KYC issues surrounding their activities. In order to continue, VPS must know who it is dealing with.

The burden of proof is upon you. Including to prove that BTC are legally money and subject to AML.  Otherwise is just b/s.

No payments can be made without a claim whether they be refunds or back payments.

See 1. above and best wishes for your reputation of thieve. You should not have used your real name to pull this cheap scam off.
The other scammers on the GLBSE at least were smart enough to remain anonymous.

[EskimoBob]

I bought 300 freaking shares directly from giga for 1.5 btc each. He refuses to continue business with me under the terms we both agreed on.
Instead of reverting the deal by paying my money back (450 - paid out dividens) he keeps my money hostage. He doesn't need my ID and stuff to revert the deal. He's the one who refuses to continue business.

Now tell me exactly how this is not scamming.

No I don't want to file a claim, I want my dividends paid out or my money back.

Please submit a claim and you will be paid.

GLBSE is not around specifically because of AML/KYC issues surrounding their activities. In order to continue, VPS must know who it is dealing with.

No payments can be made without a claim whether they be refunds or back payments.

Let me use big and friendly pink letters, so everyone understands (including moderators):

BULL SHIT! You, James Gibson from Orlando FL,  are a LIAR

and you deserve to be tagged as a scammer!

[🏰 TradeFortress 🏰]

I bought 300 freaking shares directly from giga for 1.5 btc each. He refuses to continue business with me under the terms we both agreed on.
Instead of reverting the deal by paying my money back (450 - paid out dividens) he keeps my money hostage. He doesn't need my ID and stuff to revert the deal. He's the one who refuses to continue business.

Now tell me exactly how this is not scamming.

No I don't want to file a claim, I want my dividends paid out or my money back.

Please submit a claim and you will be paid.

GLBSE is not around specifically because of AML/KYC issues surrounding their activities. In order to continue, VPS must know who it is dealing with.

No payments can be made without a claim whether they be refunds or back payments.

Let me use big and friendly pink letters, so everyone understands (including moderators):

BULL SHIT! You, James Gibson from Orlando FL,  are a LIAR

and you deserve to be tagged as a scammer!

Yes, this is just a ploy to keep everyone who didn't or doesn't want to claim's coins.

[Puppet]

GLBSE is not around specifically because of AML/KYC issues surrounding their activities. In order to continue, VPS must know who it is dealing with.

This would mean you are the one unable to fulfill his contractual obligations. Whether or not that is actually true, there should be little doubt as to what should happen with the bitcoins people entrusted you with.

[MPOE-PR]

GLBSE is not around specifically because of AML/KYC issues surrounding their activities. In order to continue, VPS must know who it is dealing with.

This would mean you are the one unable to fulfill his contractual obligations. Whether or not that is actually true, there should be little doubt as to what should happen with the bitcoins people entrusted you with.

Seeing how BFL isn't actually delivering anything anyway....

[torusJKL]

A few months have past since most if not all other GLBSE shares have been linked to their previous owners using Nefarios list.
There was no big outrage of people who claim that they where not or with the wrong amount of shares on that list.
So I think we can say that Nefario did managed to compile a good list.

In respect of this gigavps should start accepting claims using Nefarios list and the list alone (no ID or other crazy ideas) or he should be tagged a scammer.

[Hiroaki]

I am still surprised that he did not get a scammer tag !!!

[Dagger75]

We as Miners and/or people in the Bitcoin Community NEED to Stop supporting these types of ventures.  Scammers have made more from us then mining or bonds ever will and it's only US that can make this stop.

Do not support any new "Bond" or "Cloudhashing" Ventures, it's eventually the same story for all of them w/i 6 months ---> 1yr Max.  They prey on the newcomers in bitcoin and us veterans need to keep these scam tactics out in the open and people aware.

If the Bitcoin Community can come together and get rid of these Super-greedy folks then maybe we'll be able to expand the network and bring BTC into the open at a faster rate.  If the Trusted folks of Bitcointalk stick together, instead of being frustrated by the scammers out there, and work together we can get what is needed from each other and the Scammers will no longer get a "cut" of our hard earned BTC!

It makes me sick everytime I read these threads on the average miners getting taken advantage of, whether because of their location or due to lack of funds.  With the plethora of ASIC chips becoming available for semi-DIY projects there is no reason to "invest" in these sketchy Bond type Scams.  Show them who's boss and Do Not give them your money!  It may "Sound" easy to buy bonds but we all know how it will end...


As usual, Gigavps is no different from the rest of those sketchy types.  Writes a contract that he has no intention of following then tries to make it appear he's not requiring people to jump thru 50 hoops to possibly get some of their money back.

I am wondering where that Scammer Tag is?!  Stop letting the "Rich" take from the "poor" as Bitcoin is Supposed to be different...but only if WE make it

[Namworld]

Writes a contract that he has no intention of following then tries to make it appear he's not requiring people to jump thru 50 hoops to possibly get some of their money back.

Well that's a bit exaggerated. There is but one hoop, getting an affidavit. And it's not possibly get some money back, it's been established he will pay all pending payments since GLBSE closed and so far is still paying out the mining proceeds weekly.

So far he's been providing as per contract hashing proceeds to anyone who has sworn before a notary to be the rightful owner of his gigamining hashing contracts, with ID. I do believe fixed hashing contracts have been an absolutely bad deal and I don't fully agree with the way it was handled, but as far as I'm concerned, Gigavps is fulfilling his 5 mhash/s contracts.

[fcmatt]

Writes a contract that he has no intention of following then tries to make it appear he's not requiring people to jump thru 50 hoops to possibly get some of their money back.

Well that's a bit exaggerated. There is but one hoop, getting an affidavit. And it's not possibly get some money back, it's been established he will pay all pending payments since GLBSE closed and so far is still paying out the mining proceeds weekly.

So far he's been providing as per contract hashing proceeds to anyone who has sworn before a notary to be the rightful owner of his gigamining hashing contracts, with ID. I do believe fixed hashing contracts have been an absolutely bad deal and I don't fully agree with the way it was handled, but as far as I'm concerned, Gigavps is fulfilling his 5 mhash/s contracts.

So changing the contract in the middle of the deal is now kosher? 

Last i checked we are tossing around play money and the deal did not have anything to do with a fiat currency.
One could swap bitcoin with coke bottle caps and it would be ABSOLUTELY no different. Give ppl their bottle caps back.

[Namworld]

What is this about fiat currency being involved?