btt

[Nightmoonk]

That's cool, but I wish they'd just said that.

Has anyone followed up on contacting Burnside? We're going to need that list of shareholders at some point surely? I could've done it myself but I strongly think we have a better chance of getting it if it comes from a more well known/trusted community member.

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[djjacket]

I've been contacted by multiple potential investors, interested in buying shares, but concerned that a GLBSE like default could occur at BTC-TC leaving bASIC-MINING shareholders in limbo. I'd like to assure everyone that BTC-TC has been set up in such a way that a complete loss of shareholder data is not possible. Asset issuer accounts are automatically emailed updated shareholder lists every 12hrs. These lists contain the email address of record and number of shares held by each investor in bASIC-MINING.

I receive these lists and they are stored in an outlook data file, which is backed up once/week on my file server. I've also created a hard copy of this information and filed it away for safe keeping(I'm a meticulous record keeper) and I'll update this copy once/week. Please rest assured that every precaution has been taken to avoid a repeat of the disastrous GLBSE default. If contact with BTC-TC is lost for a contiguous 72hrs I will retrieve the most recent shareholder list and begin confirming holdings via email, 48hrs after that if contact with BTC-TC has not been restored I will begin collecting payment addresses from confirmed shareholders so that manual payments may resume within 7 days. Any shares that cannot be matched to a payment address will have their share of dividends set aside until such time as payments can be resumed.

Thank you and please be assured that although investing will always entails some measure of risk, this particular risk has been all but eliminated.

I've become so comfortable with the LTC-GLOBAL/BTC-TC platform that I sometimes forget it's been around for a relatively short time frame and many are still unaware of it's existence or safeguards. I've quoted my above comments on the front page.   

I think we should looking at theft and fraud charges.  Wonder what the penalties are in Michigan?

[Alphi]

So does someone mind filling me in on what this G+ group is about and why some shareholders are being shut out? What is with the secrecy?

they don't want Eric to know they are creeping around his house at night making ghost noises.

seriously I don't know why they would bother with a secret group unless they are planing some vigilante action.

Point A) CreativeX has buried his head in the sand so he cant see these public posts anyways.
Point B) Even if he did know what shareholders were getting close he could hardly pack up all the miners and make a run for it. the guy isn't anonymous, he has a shed load of mining equipment and a young family... its not like he can go all John McAfee on us...

[gaba]

Dear shareholders.

 Maybe we can sell part of our assets  to somebody who knows how to convince the man to return our money. Just an idea.

https://blockchain.info/address/1Hfp99tugY4H5FYEoM3hj4JDLzShzZ9ifB

Only on these account we have more than 150.000USD in cash.

[webbrowser]

Only on these account we have more than 150.000USD in cash.

Which is... $2.90 per share?

At this price, I'm with djjacket - d'rather see creativex behind bars.  And I'm willing to put in more than $2.90 per share owned to see that happen.

[thehun]

Only on these account we have more than 150.000USD in cash.

Which is... $2.90 per share?

At this price, I'm with djjacket - d'rather see creativex behind bars.  And I'm willing to put in more than $2.90 per share owned to see that happen.

There were more wallets, and of course all the mining gear

[webbrowser]

Only on these account we have more than 150.000USD in cash.

Which is... $2.90 per share?

At this price, I'm with djjacket - d'rather see creativex behind bars.  And I'm willing to put in more than $2.90 per share owned to see that happen.

There were more wallets, and of course all the mining gear

Ok, how much are you willing to offer?

Nevermind that only creativex and burnside know how many shares each address has.

[thehun]

Only on these account we have more than 150.000USD in cash.

Which is... $2.90 per share?

At this price, I'm with djjacket - d'rather see creativex behind bars.  And I'm willing to put in more than $2.90 per share owned to see that happen.

There were more wallets, and of course all the mining gear

Ok, how much are you willing to offer?

Nevermind that only creativex and burnside know how many shares each address has.

I'm not really taking a stand here, just pointing out the facts. And since I only had a small number of shares I'll accept whatever the majority decides. Either option (getting him into jail or recovering whatever assets are left) would be ok with me.

[gaba]

Nevermind that only creativex and burnside know how many shares each address has.

If these is a scam I'm afraid that burnside is in the same position with creativex. What do you think why he must shut down BTC-TC operation.

[st4nl3y]

If I lived in US and near MI I would just go there, find him and kick his fucking teeth in for not letting me and everybody know whats happening with my/our investments. I own(owned) quite a lot of shares and this shit is very very frustrating  




creativex.........WTF man?? you do realize you won't get far (if you stole our hard earned money) and shit will hit you eventually.

[twentyseventy]

Nevermind that only creativex and burnside know how many shares each address has.

If these is a scam I'm afraid that burnside is in the same position with creativex. What do you think why he must shut down BTC-TC operation.

You're naive if you think that BASIC is why burnside shut down BTC-TC

[Alphi]

You're naive if you think that BASIC is why burnside shut down BTC-TC

Agreed .. if anything it was Labcoin and Active Mining that shut down BTC-TC that then shut down Basic Mining.

Eric probably crapped his pants when he realized how difficult paying out dividends for direct shares would be..

[twentyseventy]

You're naive if you think that BASIC is why burnside shut down BTC-TC

Agreed .. if anything it was Labcoin and Active Mining that shut down BTC-TC that then shut down Basic Mining.

Eric probably crapped his pants when he realized how difficult paying out dividends for direct shares would be..

He'll never say it, but it was possible future issues with the SEC. He got legal advice on running the exchange and then, bam, a month and a half later it's gone.

[runam0k]

If you haven't already, please join the Google group.

https://groups.google.com/forum/#!forum/basic-mining

[Caesium]

Application pending approval..

[Alphi]

He'll never say it, but it was possible future issues with the SEC. He got legal advice on running the exchange and then, bam, a month and a half later it's gone.

of course the lack of compliance was a big issue.. that's why Burnside had caveats all over the website saying "this is just a game, everything is virtual" etc... of course we all knew that, legally those caveats didn't hold water, but that didn't seem to worry Burnside until shit hit the fan and people started talking about bringing in the authorities....

as you say he probably got legal advice that said something like.. "you may be complicit in facilitating the scams if you keep offering un-vetted securities."

I think if CreativeX/Eric was going to do a runner he would have moved the miners onto a different bitcoin address because all transactions from Our bitcoin address can be tracked. .. the fact that we are still mining gives me hope that he has just buried his head in the sand and can't deal with all the Investor backlash.

I might do some analysis on the payouts and see if the additional 800GH has been deployed yet.

last  time I checked we had about 220 BTC 1200 NMC and 1000 or so Litecoins... given that all cryptos are skyrocketing.. I'd love to see him come back and cash in some of those lightcoins to buy some more AMD Cards  Litecoin miners....

[Alphi]

Application pending approval..

me too.. I just asked to join

[gaba]

Nevermind that only creativex and burnside know how many shares each address has.

If these is a scam I'm afraid that burnside is in the same position with creativex. What do you think why he must shut down BTC-TC operation.

You're naive if you think that BASIC is why burnside shut down BTC-TC

No, I don't think so, but these is one problem more for burnside and in the end one of the reason why BTC-TC is closed.

[LHB]

I live in Michigan and was thinking of taking a drive up to Lansing this weekend to check out the listed addresses. I'd like to settle the 200 outstanding shares I own.......or plug a miner or two in at my house

[lunarboy]

I live in Michigan and was thinking of taking a drive up to Lansing this weekend to check out the listed addresses. I'd like to settle the 200 outstanding shares I own.......or plug a miner or two in at my house

Pm tbomb and join in the discussion