Usagi- is he or isn't he a scammer.

[BCB]

To avoid the puppet and thread spamming by usgai and his haters please pm accusations and proof and i will post evidence for and against these claims.

[BCB]

Usgai was the first to answer any questions and posted many links to thinks already posted elsewhere.  

I'm trying to avoid hearsay and hyperbole.  One piece of evidence I find interesting is this.

http://bitcoin-otc.com/viewratingdetail.php?nick=usagi


as opposed to this

http://bitcoin-otc.com/viewratingdetail.php?nick=pirateat40


and this:

http://bitcoin-otc.com/viewratingdetail.php?nick=nefario



Also it will be noted that both Usgai and I are VIP members.  This means we both independently make a financial contribution to bitcointalk.org.  I made a contribution because I feel that Bitcointalk.org and it's administrators and moderators are an asset to our community.  They and the site have been extremely helpful and beneficial to me as I've found my way in the bitcoin world (I actively buy and sell bitcoins) so I chose to make a contribution.

There is no club or secret hand shake  (though there is a very lightly trafficked private "Donators" thread which I rarely use.  

I've never met nor invested with Usagi and frankly didn't know who he was or what he did until recently.

This thread is an attempt to settle any dispute with Usnagi.  Whether or not he gets a scammer thread is up the theymos the bitcointalk.org administrator.

[BCB]

vampire has responded that:

Usgai deleted the agreements and all statements.
Vampire claims to  prove that the financial statements are fraudulent.
https://bitcointalk.org/index.php?topic=113708.msg1228703#msg1228703

This is evidence of a "Cover Up"

However it is not clear if Vampire is a creditor.

I think we have to have compelling evidence from creditors who were defrauded to consider a scammer tag.

Waiting for more evidence.....


this has been refuted in post #17 below.

[BCB]

FROM: ianbakewell

" At various times I was a shareholder of CPA, BMF, and nearly all the NYAN offerings.

Usagi has gone back and deleted nearly 1000 of their old posts. Many of these posts made statements that built confidence and caused me to invest into the assets run by Usagi.  In the resulting bullshit of Usagi swapping things around to make it look like they were not doing so bad after the pirate losses,  those statements were later proven to be false or were unhonoured. The stock prices collapse and I sold out at an extreme loss.

YARR was the only good experience with Usagi, and likely only because I was able to get out at the beginning"


Another accusation of deleting documents and making false statements.

[BCB]

So I just heard from usagi  he indicates:

"the spreadsheets were published on tsukino.ca/bmf, which was a wordpress site which I have deleted. So it is unrecoverable. "

* admitting to deleting material information.

he says he "can't remember" specific facts.

he admits to incorrectly valuing his assets:

"I mis-spoke about the nature of the formula. I think I said "average" instead of "max" – "

EDIT ** see post 17

He admits that while he was representing  the value of his investments in the future - if  the investor how liquidated their asset would actually receive less value.:

"The claim was that if someone wanted to liquidate their investments, that would be the price they could get. This is true "

It's not looking good for usagi.

[BCB]

Usagi claims to be following general accounting/inventing principals in valuing his assets and quotes a length the  Financial Accounting Standards Board which states in part:

"While internal inputs are used, the objective remains the same: estimate fair value using assumptions a third party would consider in estimating fair value."

However numerous third parties with access to Usagi's valuations claim that he was NOT fairly valuing his assets.  So again this is an example of Usagi using information "subjectively" to suit his position and omitting or ignoring relevant points that counter his position.


Usagi continues to provide NO FACTUAL information in his defense and when he does make statements they often end up supporting his detractors claims.

[BCB]

EskimoBob has responded in the other thread.  He is the second investor who claims to have lost fund do to Usgai's inaccurate valuations.

Hello Eskimo bob. Good to hear from you as you name has come up quite frequently. So far usgai has been accused of and evidence has been provided that he:

Misvalued assets
Lied about assets owned
Tried to use company assets to pay off a personal loan
Deleted material evidence supporting this activity to cover up this activity
And refuses to supply specific facts to support his claims and instead spAms the threads

1.  Did you lose any funds as as result of usgai misrepresenting his various businesses and assets?
2. What facts can you provide that may support or refute these claims

Thanks.

All the fact are in the forum posts by me and multiple other people, who git fed up with constant BS.

Misvalued assets - yes
Tried to use company assets to pay off a personal loan - I can not recall at the moment all the details. Dig the forum, it's all here
Deleted material evidence supporting this activity to cover up this activity - yes. This has been proved in forums to ad nauseum  
And refuses to supply specific facts to support his claims and instead spAms the threads - yes. This has been proved in forums to ad nauseum  

1.  Did you lose any funds as as result of usgai misrepresenting his various businesses and assets? - yes, because information published (now deleted by usagi) was constantly wrong - that was discovered later.

2. What facts can you provide that may support or refute these claims - it's all in the forum post.

[BCB]

Usgai also repeatedly states:

 "...the contract clearly stated I would provide value through analysis.."

which I assume to mean that his analysis allows him to value his assets even if his analysis is wrong  - which others including Usagni have pointed out was wrong not only due to faulty analysis but also due to bad math or incorrect of calculating formulas.

Does that make his inaccurate valuations ok.  I would think not.  

This is again an example of Usagi shirking his fiduciary responsibility.

  

[BCB]

Usagi Used Threats and intimidation to silence critics.

https://bitcointalk.org/index.php?topic=133819.msg1426051#msg1426051

[BCB]

Usagi claims to have consulted and paid an "Internet defamation lawyer"  to investigate EskimoBob's Defination claims as part of his intimidation yet  he can not provide an invoice that this fee was paid nor even a name of he lawyer.

[BCB]

Deprived has pieced a time line from actual post of Usagi's attempt to misappropriate company assets.

Here's the first of my allegations against usagi - a failed attempt to steal hardware belonging to BMF.

Sorry if it's confusing in order - the posts comes from various threads.

The Case of the Vanishing Hardware

First a quick bit of background on BMF.  I don't believe usagi will disagree with any of this.

BMF started out as purely an investment vehicle - its sole role was to invest in securities (can't remember whether it was only mining-related ones or mainly mining ones).  At some stage after pirate had happened, usagi suggested that the company cut out the middle-man and move into mining themselves - so they no longer had to pay a percentage of revenue to an operator.  I believe this was approved in a vote by investors.

BMF was given (I believe - not sure on this) a mining rig by usagi, raised some funds and pre-ordered more mining gear.  This was listed in the asset spreadsheet for BMF.

Then GLBSE shut-down.

In a thread, usagi made the following post (below is only first 2/3 of it - the last 1/3 is irrelevant to my point.  Follow the link if you want to see whole post.

Second point, GLBSE is gone and so are all my companies. So this thread is completely and utterly meaningless.

So you think you can just keep all your clients and investors coins?

What coins are you referring to? Client's coins; yes, I will definately be keeping my client's coins that they paid, and completing my obligation to them. The only remaining client I am aware of is ABM, who prepaid for a year on insurance for one FPGA single. So yes, I will be keeping PsychoticBoy's coins, why on earth would I give them back?

Investor's coins --> See this is why you are a fucktard. First, I *just* said I will be paying back the loans I took out. So you can't read. Second point, I *just* said that everything we had was invested on GLBSE, and I will be distributing claim codes as I get them. So what's your problem? Are you mentally retarded?

The original embedd edusagi quote says that ALL his companies had gone.  Puppet asks if that means usagi will keep investors coins.  Usagi then (amongst the usual insults) claims that "everything we had was invested on GLBSE".

This puzzled me - as how could BMF's mining rigs/pre-orders be on GLBSE?  Maybe it was just a typo and he meant to say "Most of our assets are on GLBSE but I'll distribute the proceeds from sale/cancellation of the mining rigs" - but accidentally mistyped a few words.

So I asked :

Second point, I *just* said that everything we had was invested on GLBSE, and I will be distributing claim codes as I get them. So what's your problem? Are you mentally retarded?

How did the mining rigs on order for your mining fund get to be invested on GLBSE?  Are you going to cancel those orders and share the BTC amonst your shareholders?  Or are you hoping they'll be forgotten and you can keep them?  You've said a few times in this thread that EVERYTHING you had was invested on GLBSE - yet that isn't actually true is it?

Surely now, usagi will just say "Oops - forgot about those - obviously the proceeds from those will go back to BMF investors.".  Well, that's not exactly what he said:

Second point, I *just* said that everything we had was invested on GLBSE, and I will be distributing claim codes as I get them. So what's your problem? Are you mentally retarded?

How did the mining rigs on order for your mining fund get to be invested on GLBSE?  Are you going to cancel those orders and share the BTC amonst your shareholders?  Or are you hoping they'll be forgotten and you can keep them?  You've said a few times in this thread that EVERYTHING you had was invested on GLBSE - yet that isn't actually true is it?

Lol just fuck off dude. You got nothing, and the best you can do is necroaccount and necrothread.

Well OK - obviously he doesn't like me very much, but at least now I've reminded him about the mining rigs.

But what's this?  Oh a scammer thread about me (and others).  I can't quote the thread - as usagi locked it to prevent those he accused from responding (and in the hope his theft attempt wouldn't be noticed).  But here's a link to it:

https://bitcointalk.org/index.php?topic=127096.0

In brief he alleges that I (and others) made false accusations against him to try to ruin his business.  Amongst the ones against me is #10:

"10. https://bitcointalk.org/index.php?topic=114820.msg1271394#msg1271394
"You've said a few times in this thread that EVERYTHING you had was invested on GLBSE - yet that isn't actually true is it?"
During the times BMF had hardware on order I had never failed to mention that. A shareholder motion was created over the issue of buying hardware. I made a very public series of posts about it. I never once tried to hide the fact we had a small amount of hardware. I mentioned it several times in PM to various creditors."

This is wierd - my post he links very clearly quotes a post in which he says ALL his assets are on GLBSE and he's now accusing me or attempting to defraud him by saying that's not true.  So is he saying BMF doesn't have any hardware any longer?

Later in the thread the truth starts to come out:

https://bitcointalk.org/index.php?topic=127096.msg1349684#msg1349684

If you read this post you immediately see the problem of arguing with usagi.  Usagi states they had hardware (so what I said was correct - it was untrue to say all assets were on GLBSE) then says : "If you weren't lying, just go away. if you were lying.. just go away. "  Given that the issue I was accused of lieing about was whether BMF had assets non on GLBSE, and given usagi had in that same post said BMF had hardware, how can there possibly be ANY confusion over the fact that I was telling the truth?

So: It was just a misunderstanding - and usagi now has been reminded about the hardware.

But wait - what's this? (from the last linked post):

"I confirmed in private to loan-holders hardware had arrived. one offered to exchange the single for the debt. I turned him down until I get the info from nefario."  So usagi was considering giving the single to loan-holders when the info from nefario arrived.  That's strange - as the hardware belongs to BMF and the loan is guaranteed by CPA/usagi personally, not by BMF (if disputed can dig out the loan thread).

A bit strange that usagi had been discussing the hardware with loan-holders (who have nothing to do with BMF) but then he accused me of scamming when I said he had hardware.  Kind of looks like he realised he couldn't get away with pretending the hardware didn't exist any longer so gave up on it - and then locked the thread accusing me, so I couldn't even reply any more (temporarily unlocking it very briefly to post an "update" in which the village idiot Augusto stated usagi was innocent).

But that's not the end of it.  Now lets look back 2 days previous to the scammer accusation by usagi (only part of post quoted):

First, it's important to note that I ran funds -- similar to S^2 capital management (ran by Smickles and imsaguy), or Gamma Bitcoin Fund, ran by DeadTerra. However, in contrast to S^2 and GBF, everything that my companies held was held on the GLBSE. I think, BMF might have had 20 bitcoins in it when GLBSE shut down; we also ordered 2 FPGA singles. So besides that everything we held was on the GLBSE.

So, first of all, I do not have any kind of massive amount of bitcoins, nor do I have any physical assets that are owned by anyone.

So 2 days previously they had 2 pre-orders and no physical assets.  But ""I confirmed in private to loan-holders hardware had arrived.""

Remember for later the claim "we also ordered 2 FPGA singles. So besides that everything we held was on the GLBSE."  

Fast forward a few days and we have this:

GOOD NEWS!
I have received the list of YARR holders.

GOOD NEWS! Loanholders have announced interest to buy:

a) the guitar and amp I am selling
b) the hardware I have recieved

These loanholders have also given me permission to confirm that I have done this once the deals have gone thru and equipment has been verified working.

This means I will get almost 250 BTC towards paying off what CPA owes! This, along with the BTC-MINING (see post #2) and YARR news, is FANTASTIC. I'm absolutely ecstatic at this. Please continue to make claims as advertised in the OP. As mentioned you have until the end of January 2013 to make your claim. Thank you.

This has been a good couple of days for resolving the GLBSE fiasco. Please let's hope it continues and this all gets worked out in the end.

Now lets put these things in date order:

Nov 18th: "we also ordered 2 FPGA singles. So besides that everything we held was on the GLBSE.

So, first of all, I do not have any kind of massive amount of bitcoins, nor do I have any physical assets that are owned by anyone."

Nov 21st: Accuses me of attempting to defraud when I said he had assets of BMF's that weren't on GLBSE.  Then changes his mind (but STILL claims I was lieing) and says:

Nov 21st : "I confirmed in private to loan-holders hardware had arrived. one offered to exchange the single for the debt. I turned him down until I get the info from nefario."

So one of the 2 FPGA singles must have arrived between 18th and 21st.  Usagi won't use the singles to pay off CPA debt until  info has arrived from nefario.

Nov 21st : In same post usagi again iconfirms the hardware is only FPGA singles : "Look if I said that it means either the FPGA singles we now have on order either weren't ordered yet or hadn't arrived. "

Nov 22nd : "GOOD NEWS! Loanholders have announced interest to buy:

a) the guitar and amp I am selling
b) the hardware I have recieved

These loanholders have also given me permission to confirm that I have done this once the deals have gone thru and equipment has been verified working."

That's strange - as no info had arrived from nefario.  On 21st he rejects the offer and on 22nd he announces it?

Now onto a different thread and Nov 26th:

This message regards loan holders (and loan holders solely) of CPA. For other claimants please e-mail nyan@tsukino.ca, or wait until the GLBSE has sent me the list of asset holders and your claim will be processed automagically.

First point.
1. Due to the closing of GLBSE, CPA has ceased to exist. All of our assets were on the GLBSE so we have no money and no operations and no income from operations.
2. Before GLBSE closed, BMF ordered a few FPGA and ASIC singles.
3. Both I myself, and CPA, owned 800 and change shares of BMF.
4. Therefore I have valid, personal claim on these singles, as does CPA.
5. Therefore this FPGA will be sold to pay off a loanholder (jborkl).
STATUS: I'm boxing and shipping it today. I will update this post with links to the receipt and tracking number later.

Suddenly 2 FPGAs (on the 18th that was the only pre-orders and they had no hardware) has become "a few FPGA and ASIC singles".  And usagi is helping himself to one to pay off a CPA debt (note: usagi later claimed this would be deducted from CPA's share of BMF settlement so it's NOT necessarily an attempt to scam).

Are we really expected to believe that on 18th usagi only rememberd 2 singles, on 21st he forgot and he had any hardware at all (and accused me of lieing when I said he had assets not on GLBSE) then on 26th he suddenly remembers there's some other hardware as well?

Or could it be that he on 18th he tried to pretend BMF only had preorders for 2 singles, he then agreed to give one to a CPA debtor and was hoping noone would notice when he started claiming ALL his assets were on GLBSE.

Then on 21st he took his attempt to steal them a stage further - accusing me of lieing when I said he had assets that weren't on GLBSE.  Look carefully at the wording:

"During the times BMF had hardware on order I had never failed to mention that. "  Past tense - "had never failed to mention it" - not "have failed to mentioned it."  He is saying that I was lieing when I claimed he still had assets not on GLBSE and that when he did have pre-orders, he disclosed it.

Later same day he realises the game is up and admits to having 2 FPGA singles - then locks the thread in the hope it'll die and noone will notice how he was attempting to steal from BMF.  Note that we KNOW he hadn't got rid of the single then - as on 22nd he announces it's going to be used to pay off a CPA debt.

He very clearly was pretending not to have any mining hardware -  to the extent of lodging a complaint over my 'lies' in the scammer forum.  Why did he then admit to having them?  Can only speculate on that - but most likely he realised he'd previously been quoted as having them (and had mentioned it on the 18th) and, whilst he can delete his own posts/website showing what his companies had, he can't delete other people's quotes of his posts.

And how do you forget you ordered an ASIC (and 2 jalapenos) whilst remembering the 2 FPGA singles?

Not only did he try to scam - but when I pointed it he had the bare-faced cheek to accuse ME of trying to defraud him in exposing HIS scam attempt.

If it's of any relevance, the pre-orders he actually had (or claimed to have) less than a week before GLBSE closed were:

2 Bitforce Singles
2 Jalapeno
1 Bitforce 'SC' single

[BCB]

deprived and  makomk have posted evidence that Usagi mislead his investors to lower the share price of his assets then bought them back at a lower price.

https://bitcointalk.org/index.php?topic=113708.msg1426523#msg1426523

[BCB]

Usagi has posted here in response to this thread.  
https://bitcointalk.org/index.php?topic=134011.0

I'm glad to update any of my posts if anyone would care to pull some FACTS out of here that refute anything I'm already stated.

Also for full disclosure I received the following PM from augustocroppo

[snip]
Shame on you, BCB.

You seem do not understand how to examine evidence...

You are being completely biased against Usagi.
[/snip]

augustocroppo,

Sorry to disappoint you but this is currently my opinion.

If you would like to pull some FACTS out of any of usagi's statements I'd be glad to update any or all of my previous posts.

Thank you.

[BCB]

Anyone anywhere can start a bitcoin investment fund, collect coins and proceed with their investment plan.
There are no bitcoin securities laws or regulations.
It seems that most inverstors seem to want their bitcoin portfolio managers
to play by generally accepted accounting/investing rules.

However that rarely seems to be the case for bitcoin securities.

1  There is no real auditing.  
2. There is no filing of offering memorandums etc.  

So basically portfolio managers are able to do what these see fit with their funds
and deal with disgruntled investors/creditors as they see fit.  While Usagi provided an investment offering he is not necessarily being accused
of violating this contract.  

It seems to be clear from these posts that Usagni:

1. Improperly/inaccurately valued Assets  EDIT** see post #17
2. Was caught at least once  attempting to misappropriate company funds.
3. Purposely claimed his fund was going out of business to drive down share price so he could buy back shares at a lower price.
4. Destroyed material evidence.
EDIT:
5.  Took insurance payments and did not pay claims.

While Usgai has many detractors there doesn't seem to be anyone coming to his defense.  Also, Usgai refused to provide specific factual evidence to support his claims but instead spams any open thread, and even starts new threads which all seems to be an attempt to obfuscate any questions at hand.

This evidence and his continued response to these accusations clearly suggests that he is not a very fit portfolio/investment manager.  

Was Usagni intentionally trying to defraud his investors.  Is he a scammer? It it up to the bitcointalk.org administrators to determine any further action.


I replete:  I'm glad to update any or all of my previous posts here should anyone provide additional facts to refute any conclusions I have drawn.

Thanks.

[BCB]

Evidence of Usagi attempted manipulation of facts to fit his reality continue to surface.

Here he is caught in the act of submitting altered documents after the fact.

https://bitcointalk.org/index.php?topic=113708.msg1428420#msg1428420

[BCB]

Usgai told BMF investors that they were indemnified against capital loss by CPA.  When they lost capital they received no payments, despite having paid some premiums.  Usagi NOW claims that the contract was just a test - with no intention for it ever to run through to completion normally.  If we assume usagi is NOW telling the truth (he isn't - but it's not relevant) it means not only did he fail to deliver the insurance he said was in place - but he KNEW when he said it, that it was untrue and that there was no insurance.

[BCB]

augustocroppo has supplied a lengthy refutation of Vampire and Puppet accucation that usagi intentionally mislead investor with inacurate calculations.

https://bitcointalk.org/index.php?topic=113708.msg1429344#msg1429344

In it  he shows the time line in which the mistake was made and show that Usagi corrected the mistake and never used the mistaken calculation to promote his fund to investors.

[BCB]

sent a pm- I will lend another 43 based on the original term if you still need it.

Accepted. This will be enough for me to close this thread.

Thank you! I'll update post #2.

As we say in Japan, どうも　ありがとう　ございます ^^

Dear ShadowAlexey, Ciuciu, jborkl and Anonymous #19 (You know who you are!);

Thank you very much for helping us out on this. If you would like me to rate you on OTC for this transaction please send me a message on the forums with your OTC name (i.e. #bitcoin-otc).

As a thank you gift I hereby issue each of you 1,000 options to buy CPA at 0.05 per share (expiring after 2013). Right now these options are worthless because the price of CPA per share is about 0.033. However, one day, I expect CPA to return to it's former glory. At that time, you may very well wish to exercise your options. How to do this is simple. At a later date, just ask me, and I will sell you the shares via transfer. if CPA rose to 0.1 per share for example, this would save you 50%. Typically people do this by flipping shares and that is an option too. if you wish I will send you the price difference and keep the shares myself. Good luck and thanks again. This thread was a success ^^

Hello! I'd like to make a quick update.

The three people who were applying to loan us have for one reason or another been unable to complete the transaction. At this point we have taken on 338 BTC of liability, with approximately 180 to 200 BTC remaining.

We have repaid the investors we signed for the first week. If you are waiting for us to repay people before signing a loan with us please consider the fact that we have paid out 2800 BTC on YARR, we paid out 1400+ BTC on pirate insurance, 250 BTC on matthew's default, we've paid out on several options contracts (check my OTC rating). Actually my OTC rating is a good indication of my trustworthyness too.

Ok, thanks and good luck.

Dont need? She will require all the coins she can get her hands on.
I just had a look at the NAVs of  nyan.x using her own method;

NYAN.A I get ~990 BTC, down from 1619 last week -38%
NYAN.B I get ~1500 BTC, down from 1935 last week -22%
NYAN.C is more or less stable.

This is why you should ignore puppet. He's full of it. NAV of NYAN.A down -38%?

What?

The guy's a looney :p

Sent 58 -

I will not need the funds back early, so do not worry about that.

 

Confirmed. Thanks. I'll put your repayment address in post #2. Your first payment will be sent this coming Sunday. Thank you and good luck.

Why would you take money that u dont need with interest more than average? Doesn't sound reasonable...

Right. Ok I'll offer him the terms everyone else got. I suspected I should anyway. It's only fair that way. If he doesn't accept, then it should be ok with the others. Thanks.

APPLICANTS
Anonymous #1: 300 BTC (accepted, sent deposit address)
Anonymous #2: 280 BTC (accepted, sent deposit address)
Anonymous #3: unknown amount (accepted, sent deposit address)
Anonymous #4: 140 BTC @ 2%/week <--- see discussion below.
The offer is now closed to new applicants. This is fine, thanks.

Hello everyone! Quick announcement time.

I have received four offers, listed above (and edited into post #2).

I've decided to accept them all with the exception of #4 -- I'm not sure if I should accept this one. First it would be unfair to the others and second I don't really need the money. I can do it, we make enough to cover the interest, but I have to ask myself if taking this money would be honest. I mean, I'm not here to just take money take money I have to run a business too. Hmm.

Thoughts? I gave him a deposit address, but I feel a little odd about it. Maybe I should counter-offer to just pay the original terms? If you have any comments please advise. Thanks guys, I was feeling really pissed until I saw these offers. I'll keep doing my best!

DMC isnt what you should be worried about. Usagi got his shares from diablo in an off market, under the table deal, for something like 50BTC. Its worthless rubbish but he didnt pay much for it, and its mostly older DMC shareholders that got screwed over by this deal.  

What you should worry about is usagi's exposure to various ponzi's, particularly obsi.hrpt. I wrote some more on that here:
https://bitcointalk.org/index.php?topic=97178.msg1214541#msg1214541

This is an example of why you should ignore puppet. When I did the ASICMINER trade, I was the 60% majority shareholder in DMC. Now I am under 20%. That's right I approved a deal that made me lose majority ownership. Ask yourself why. Second point, the deal was discussed and accepted by Nefario and ColdHardMetal live, in IRC, as it was going down.

Puppet is a worthless troll and if everyone reports him maybe we can finally get rid of him. I wish Theymos would ban idiots like him once and for all.

Guys I suggest we ignore Puppet, he follows me around and makes stupid comments on my threads.

Anyway back on point, Nebulus has been repaid. I'm a little upset at him, he told me he wanted the money back to play Satoshidice. Guys, please don't step into this if you're just going to ask for your money back after 3 days.. I was able to pay back goat's 200BTC and nebulus's 50BTC but now we're back in square one with no free floating capital. If you're going to agree to depositing with us, please try to stick to the terms in the OP unless it's an emergency, from now on. Thanks.

Due to an agreement with Usagi I was paid back the 200 BTC with no interest. I'd rather use the BTC for a different project and I assume he did not want to pay interest. We both win on this.

The debt is now void. Thank you Usagi.

You are welcome!

Due to this event there is now an opening for an additional 200 to 300 BTC worth of investment. Anyone who would like to participate please post here or in PM, or contact me in e-mail or IRC. Thanks for helping

Asked for early repayment.

I've decided to allow it. Sure, i'll give you the same terms as goat.

This does present a problem for CPA as we now are having problems with liquidity again.

We're looking to borrow up to 350 BTC now :/ Thanks if anyone can lend us a hand, see OP for terms.

Asked for early repayment.

I've decided to allow it. Sure, i'll give you the same terms as goat.

This does present a problem for CPA as we now are having problems with liquidity again.

We're looking to borrow up to 350 BTC now :/ Thanks if anyone can lend us a hand, see OP for terms.

I feal bad, I did not mean to start a run. I can loan back the 50 BTC to cover nebulus.

Nope, it's up to me to allow the early repayment or not. I'll just wait for someone who can do the 6 weeks. We'll be ok I guess :/

I've sent usagi 50 BTC. Would like to get this confirmed.

Sorry I was at work ^^ Confirmed! I also updated the 2nd post to show your repayment address. Thanks.

Just for my own purposes :

Would you be willing to verify your Identity with Address, Picture, Legal documents to discourage Fraud and aquire Trust.

I have not found any Imprint on your Websites and your Sailor Moon Name is not helping either.

If your answer is no, why? (Hint : My first question is a rhetorical question with only one good answer.)

I am ID verified on the GLBSE. I'm not willing to identify myself publicly because several asset issuers have recently received death threats (both Obsi and DeaDTerra, among others) due to recent market losses, liquidity crises, or flash-crashes being perceived as bad management. I am, OTOH, willing to do video chat with Nefario or ColdHardMetal to verify I really am who I am in my photo ID.

i will take 200 btc of this.

i paid 200, i would like this to be confirmed

https://bitcointalk.org/index.php?topic=110122.msg1197935#msg1197935

Confirmed!

[BCB]

Usagi. At the bottom of this very long post you admit that you have a complete list of all of your company assets. Please produce this list now or if this list of assets does not exist please admit that you lied to you investors/shareholders then.

Thank you.

Nefario has just announced that he has misappropriated almost 1600 BTC in assets from Diablo Mining Company claiming that shareholders have said I have violated my contract with all of you. The good news is, he cannot remove me as founder of Diablo Mining Company, nor misappropriate assets or sources of income not held at GLBSE.

I officially request Nefario unlock the Diablo Mining Company account and also return any misappropriated assets. Nefario does not represent Diablo Mining company nor any shareholders of Diablo Mining Company. Diablo Mining Company has hired GLBSE to act as an exchange and broker for Diablo Mining Company shareholders.

Diablo Mining Company currently holds on GLBSE:
54 BTC-MINING, currently valued 53.78 BTC
951 BTCMC, currently valued 561.08 BTC
9290 OBSI.ABMO, currently valued 929.00 BTC

From this 1543.86 BTC in assets. BTCMC pays approximately 15 BTC a month, ABMO pays a little over 10 BTC a week, BTC-MINING pays a half a BTC a week. I expect any dividends issued by assets held by Diablo Mining Company to also be returned.

Diablo Mining Company has been in negotiations with CPA to insure shareholder assets both on and off GLBSE and with Nyan for continued asset management for the assets on GLBSE. As part of these negotiations, I have agreed to reverse the motion on the cessation of dividends for three months and pay the dividends for August 2012. Nefario's actions have delayed these negotiations.

As of this time, I cannot login into Diablo Mining Company's GLBSE account. Even if I could, I cannot verify who owns shares of this company or how many they hold, Nefario refuses to release this information to me. Until Nefario releases this repeatedly requested information, I cannot pay dividends to shareholders. Dividends generated from non-GLBSE assets and sales will be held until Diablo Mining Company can reliably transfer them to shareholders.

I have worked hard to make sure this company succeeds in our mission. Diablo Mining Company, since it's inception, has had a three part plan: profit from Bitcoin mining, focus on the high density computing and data warehousing market through building our own data center, and invest heavily in renewable green energy to offset our own usage and also sell it back to the grid.

In this, I would like to make an announcement, and I wish I could make this announcement under better circumstances: Diablo Mining Company shall soon be offering dedicated server and cloud hosting, beginning our work on the second part of our plan. Although the data center part of the plan was originally written to be "bottom up" instead of "top down" to enter the market, this shall put us closer to our goal.

I promise that I will do everything possible to force Nefario to return the assets, but in the event that this does not happen, Diablo Mining Company will continue moving forwards. I know I have the support of the community and my shareholders on this, and I'd like to thank you all for that.

Edit: And yes, I am giving Nefario a chance to fix this. He made a mistake, and unlike some people, I am giving him a chance. If he does not return the assets, I will be requesting that theymos add a scammer tag to all of his forum accounts. I am not making this request for a few days as to give Nefario ample chance to apologize to DMC shareholders.

I am usagi and I run BMF, the largest mining fund on the GLBSE. I also run NYAN, the largest general purpose fund on the GLBSE. I also run CPA, an insurance company (which despite all appearances is doing fine and has paid out on each and everyone one of it's contracts in full).

As a result of all this I hear things. Not important things or secret things but for example I get to do bulk purchase deals. So anyways I talk shop and do business with people like Diablo all the time. But regarding Diablo specifically I want to tell the diablo story from my point of view.

First off I respect Diablo as a coder. He did write Diablominer and it's quite a nice piece of work. He's also a forum mod (admin here) and from what I hear he does an OK job. So when I hear about DMC, that he was starting DMC, I bit into it wholeheartedly. Since day 1, BMF has been a major shareholder in DMC. At the peak it was worth almost half of our portfolio. That was in the beginning.

Over time I began to realize that Diablo didn't really know what he was doing as a trader or fund manager. For example, he and I would do small time trades, like 100 shares of BTC-MINING for 100 shares of DMC. Which was a fair trade at the time. I remember one day we did this trade and instead of going back to my other screen and coding or trading I hung out in the channel. I was mortified to see what happened next. He sold the shares into the market amd bought up something else -- again into the market. Both ways he lost 15-20%. I was speechless. I asked him what the hell he was doing and I can't remember what he said, but it seemed to assauge me somewhat at the time. I was left with the impression he was a poor trader though and left it at that.

However over the course of the next month DMC slowly started to drop in value. First to .80 then to .70 then to .666 then to .60 and .50. Then the .40s. I began to realize what was going on-- what he did was trade the shareholder equity down in his company in order to grow. For example let's say his shares were worth .75 each. He would offer 100 shares for 70 BTC worth of a mining company. The company was getting bigger, yes, but shareholder value was slowly being chipped away. I remember arguing with him in #bitcoin-assets for WEEKS about this. We had a major argument over this. He wouldn't listen to me. I don't know if it was his ego or if he just didn't understand. BMF eventually lost over 1,000 bitcoins because of him. I still don't know how the heck I managed to trade my way out of that but for the record BMF did better than the market (i.e. GIGAMIING went from 1.50 to .50 (lost 67%) but BMF only lost 40%). But this isn't about BMF.

So anyways I kind of back away from DMC after the arguing. I leave him to his own devices. DMC is worth about .50 or .60 at this point. Then it went to .40.

Around this time ASICMINER came out and I had bought around 5,000 shares in total at the bulk purchase price of .09 for BMF and NYAN. So Diablo was, at the time, trading his shares for MHASH. Not value. Which technically.. I mean if you think about it -- I mean think about it really, ok, GIGAMINING has 5mhash/share, DMC had 4. So why was DMC .50 and GIGAMINING was 1.20 at the time. Why? it didn't make sense. So Diablo's plan sort of made sense you see. If you thought about it. But then things went horribly wrong.

He approached me for a deal for ASICMINER. ASICMINER, you see, was going to get 155mhash per share once they started mining for themselves with their own ASICs. Ok, fine. Makes sense, I thought. No really. Trade a few months of dividends for the future value of ASICs now. It makes a boatload of sense if you think about it (no really, think about it)--sell out mining bonds NOW while they're overvalued and get in on ASICS. Versus losing 90% of your value and THEN trying to move into ASICS. So I traded approximately 500 shares of ASICMINER for approximately 4,500 shares of DMC. I think we did a second trade a short while later for 300 more shares of ASICMINER. The point is, we bought into DMC for thousands of shares at 0.0111111 per share.

Please keep in mind we were always the majority shareholder of DMC. We has 60% of DMC's shares at the time. And when all was said and done a lot of people did this trade with DMC. In fact we were no longer the majority shareholder. So this isn't our "fault". Plus look what happened after the trade. It was like a new deal for DMC. The plan was finally working. We had bought in at 0.011111 per share and DMC was going up, up, up. 0.03. 0.04. 0.05. 0.06. 0.07. 0.08. I even sold some shares for close to 0.1. Finally Diablo's genius was paying off. Then the accusations of scam started because of the asicminer trade and things started to go south. I don't know what happened after that because I was no longer a majority shareholder. I has in fact sold out several thousand shares for 7x my money. NYAN profited from the deal, I won't deny it. But things finally seemed to be turning around for DMC, despote the accusations of fraud (there was no fraud).

However during these last few weeks since I did the ASICMINER trade Diablo has been seeming increasingly panicky.

he has been proposing ridiculous deals to me every day and while it's true we did talk about insurance he has rejected my offers so far.

Ok so I will cut this short now.. but first let me say this. I believe in Diablo's vision. I believe that he can do this. But I also believe he cannot do it alone, and must be held responsible for breaking his contract. Diablo should have bought mining hardware by now. He has 1600 BTC in assets. He could easily buy 20 singles. But he won't. That's my primary complaint as a (former) majority shareholder. All the talk about solar panels, or building dedicated web hosting with customer's money, broke the contract. Many times Diablo said he was going to take the money and build a solar farm or a webhosting company. And I am very depressed, please believe me, I am horribly depressed to have to say this. But if Diablo has taken money from DMC as he seems to have said above, and started a web hosting company --- if he has assets gathered from DMC shareholders which he does not intend to return as a direct consequence of NEFARIO'S DECISION -- I believe he should recieve a scammer tag.

Diablo please listen to me. Let me help you. First, Apologize. Second, I believe if you share your vision.. if you just tell people what you are trying to do.. I believe, I really believe they will support you. Just tell people why you do things the way you do. Just tell people what's in your heart. I am seriously friggen depressed at this situation and not because I am a big shareholder in DMC. But because I am emotionally involved. I wanted DMC to succeed so bad and I feel like crying now that it has come to this.

Please just tell people your dream..

1.

[00:29:51] <usagi> I was wonderingf
[00:29:59] <usagi> Can I make a bulk purchase of DMC?
[00:30:02] <usagi> Like
[00:30:04] <usagi> if I give you 200 bitcoins
[00:30:08] <usagi> How many DMC can I get?
[00:30:20] <usagi> Is there a special price?
[00:37:36] <Diablo-D3> yo
[00:37:41] -*- Diablo-D3 was afk plugging something in
[00:38:12] <Diablo-D3> 200 btc, hrm
[00:38:40] <Diablo-D3> I should sell you like 9 billion shares
[00:38:44] <Diablo-D3> and make it public
[00:38:49] <Diablo-D3> just to piss off eskimobob
[01:39:11] <Diablo-D3> usagi seriously though
[01:39:15] <Diablo-D3> what sort of deal were you looking for
[03:49:35] <usagi> I'm looking for a place to invest the funds in nyan.b and it's getting tight, there's not that many good places.
[03:49:40] <usagi> I might stop sales on it soon
[03:50:26] <Diablo-D3> hrm
[03:50:27] <Diablo-D3> well
[03:50:31] <Diablo-D3> if you did 200 BTC
[03:50:57] <Diablo-D3> I'd give you 200 shares and it'd give me enough ammo to fuck with eskimobob's mind
[03:51:59] <Diablo-D3> man, imagine if we crossed 2000 btc value
[03:52:13] <Diablo-D3> eskimobob would like ENTIRE REPORT FRAUD, SCAMMER TAG
[03:52:25] <usagi> The qustion is, I have to justify it
(At this point I basically stop talking about a deal. No way in hell I am doing a 1:1 deal for NYAN.A with DMC at 0.06 tho.

2.

[00:00:00] - {Day changed to Sat Sep 8 00:00:00 2012}
[00:00:07] <usagi> What kind of insurance are you looking for?
[00:00:22] <Diablo-D3> dunno
[00:00:36] <usagi> Well may I suggest something
[00:00:36] <Diablo-D3> just wanted to make cpa worth it :<
[00:00:44] <usagi> Something which would shut up eskimobob once and for all
[00:00:44] <Diablo-D3> do you have a list of total assets of bmf and nyans?
[00:00:50] <usagi> and which is also exceedingly cheap
[00:01:00] <usagi> Yes I do, it's on the spreadsheets online
[00:01:08] <usagi> tsukino.ca/bmf
[00:01:08] <usagi> and tsukino.ca/cpa
[00:01:08] <Diablo-D3> urls?
[00:01:17] <usagi> (in the nyan section)
[00:01:17] <Diablo-D3> I may just start buying into them and make you a defacto slave of dmc
[00:01:30] <usagi> But anyways if you would like a cheap kind of insurance that would shut p4man and others up
[00:01:36] <usagi> we can give you a pay as you go shareholder protection insurance
[00:01:47] <usagi> it's like 1 or 2 btc a week
[00:01:55] <usagi> And we give the money back to you after a year.
[00:01:55] <Diablo-D3> oh?
[00:02:17] <usagi> Yes it's essentially a trust account attached to your GLBSE contract.
[00:03:07] <Diablo-D3> hrm
[00:03:31] <Diablo-D3> the way you have nyan structured is weird
[00:05:18] <Diablo-D3> okay so
[00:05:38] <Diablo-D3> btw do me a favor
[00:05:41] <Diablo-D3> those obsi.1mhs you have?
[00:05:43] <Diablo-D3> trade them for abmo
[00:06:24] <usagi> Is ABMO better?
[00:07:40] <Diablo-D3> yes
[00:07:56] <Diablo-D3> 1mhs is being collapsed into abmo anyhow
[00:07:57] <Diablo-D3> remember, I already sold all my 1mhs shares into abmo
[00:08:08] <Diablo-D3> hes trading 1:1 for them
[00:08:24] <usagi> Oh?
[00:08:38] <usagi> I'll look into that, thanks!
[00:08:38] <Diablo-D3> yeah
[00:08:38] <Diablo-D3> I already traded mine, I thought you knew =P
[00:08:40] <usagi> So lets talk DMC :> I have an offer for you
[00:08:51] <Diablo-D3> lets talk nyan =P
[00:08:57] <usagi> what do you think of this
[00:08:59] <usagi> http://www.tsukino.ca/cpa/customers/account-16/
[00:09:07] <usagi> What do you want to talk about NYAN for
[00:09:11] <Diablo-D3> nyan.a holds bmf
[00:09:12] <usagi> It's a financial company
[00:09:26] <usagi> I'm moving to take deposits online in a hotwallet (hotwallet.ca) and pay interest directly
[00:09:27] <Diablo-D3> nyan.b holds cpa and dmc
[00:09:55] <usagi> BMF has 1200 DMC too
[00:10:06] <Diablo-D3> bmf has dmc
[00:10:06] <Diablo-D3> so.........
(At this point it becomes obvious to me he isn't interested in insurance--he keeps changing the subject)

3.

[01:45:26] <Diablo-D3> which of your funds have dmc?
[01:47:51] <usagi> BMF has 1200 or so
[01:47:57] <usagi> NYAN.B has like 4000, 4500
[01:48:11] <Diablo-D3> okay, do this
[01:48:18] <usagi> So Diablo.. if you are serious about insurance I can do it now, I've sent 200 BTC to mtgox
[01:48:18] <Diablo-D3> sell bmf's portion of dmc to nyan.b
[01:48:21] <usagi> It will be there on monday or tuesday
[01:48:46] <usagi> ok
[01:48:46] <Diablo-D3> then trade with me all the assets I have for btc value of nyan.b shares
[01:48:50] <usagi> So lets say NYAN.B has like 6000 DMC
[01:48:51] <Diablo-D3> and on top of that, return the DMC shares you have.
[01:49:09] <usagi> And then do a trade into NYAN.B
[01:49:21] <usagi> And give you all of DMC that we hold
[01:49:44] <usagi> So why don't I just give you all the DMC shares we hold and not do the trade into NYAN?
[01:49:47] <Diablo-D3> the only reason I dont invest in nyan and bmf is because it holds dmc
[01:49:51] <usagi> What does trading the shares do if we're just going to give them to you
[01:50:20] <Diablo-D3> because Im delegating the asset management to you
[01:50:37] <Diablo-D3> once the other part of DMC gets going, I wont have time to manage assets
[01:51:27] <usagi> The DMC we hold is worth over 200 BTC
[01:51:27] <usagi> I can't give it to you
(A lot of the proposals he gave me were something like this and I just couldn't see giving him free money like that)

4.

[20:47:03] <usagi> So I have some capital now, are you interested in insurance for DMC or were you joking :>
[20:48:08] <Diablo-D3> I dunno, I just want to see CPA survive
[20:48:13] <Diablo-D3> Im not sure if you CAN insure DMC
[20:48:46] <usagi> Well we can set up a policy for you as I said, where you pay into it the value of the policy
[20:49:35] <usagi> The reason why you would want to do that vs. say pay 5 btc a month for 5,000 coverage is because we give the money back to you after 1 year with interest. it's shareholder protection insurance.
[20:49:48] <usagi> That's the best kind of contract I can offer now until hashking pays back
[20:53:21] <Diablo-D3> meh, it'd be easier for me to just buy large amounts of nyan.
[20:53:37] <usagi> That's true
[20:53:40] <usagi> And, doing so would save my ass
[20:53:48] <usagi> By nyan I mean, "NYAN" not a, b or c.
[20:53:56] <usagi> We need to sell NYAN now to pay kakobrekla
[20:54:07] <usagi> That is actually what is stopping me from insuring you and gamma bitcoin fund today vs. next week
[20:54:23] <Diablo-D3> hrm
[20:54:29] <Diablo-D3> tommorow abmo pays me I think 15 btc
[20:54:44] <usagi> At any rate in 2 weeks everything will be fine
[20:54:56] <usagi> BMF makes a lot of money for me, and I'm buying 200BTC
[20:55:20] <Diablo-D3> okay so
[20:55:23] <Diablo-D3> do me some math
[20:55:49] <Diablo-D3> figure out the percentages of nyan a b c and bmf holdings per nyan share
[20:56:00] <Diablo-D3> you should be able to do that easily using those spreadhseets
(He changes the subject by proposing another ridiculous deal which I refuse)

5.

[23:12:37] <Diablo-D3> I want in on bmf
[23:12:39] <Diablo-D3> but cant figure out how
[23:18:16] <Diablo-D3> Ill just have to talk with abmo
[23:18:21] <Diablo-D3> er, with obsi on abmo
[23:18:31] <Diablo-D3> asicminer isnt in his best interest and the sooner he gets out the better
[23:26:31] <usagi> Well I want to help DMC
[23:26:34] <usagi> Maybe what I can do is give you a permanent 10% off ticket
[23:26:44] <usagi> As long as you are buying to hold, I'll sell you shares privately at 10% off
[23:27:15] <Diablo-D3> when is obsi usually on?
[23:27:25] <usagi> In 3-4 hours
[23:27:45] <Diablo-D3> well, you're going to help me convince him that asicminer is probably not going to make it
[23:27:56] <Diablo-D3> ao he trades all his asicminer to me
[23:28:58] <usagi> Simple
[23:29:04] <usagi> I know exactly what to tell him
[23:30:10] <Diablo-D3> I'd rather do 1:1, but if I have to do 2 abmo for 1 asicminer, Ill do it
[00:00:00] - {Day changed to Wed Sep 12 00:00:00 2012}
[02:27:56] <Diablo-D3> hey
[02:28:01] <Diablo-D3> its going up for motion on abmo
[02:28:08] <Diablo-D3> my 9290 abmo for their 5000 asicminer
(at this point, horrified, I just stop talking to him.

POSTSCRIPT:

Nefario has advised me that I may need to give back some shares of DMC. I don't mind doing that. However everyone needs to be aware of the situation. When Diablo did the ASICMINER trade I was a 60% shareholder and there were 2500 shares of DMC out. I traded for 4500 shares of DMC or maybe 5000 or so. That means he traded around 14,500 shares with other people, presumably for the same amount. I don't mind returning shares as long as it is done fairly and equallty among those who did trades with diablo. Secondly, since I have the 4,500 shares of DMC essentially still sitting in NYAN.B, I would want my 500+ shares of ASICMINER back. See, this is the problem; the trade was done with too many people and too long ago. Reversing the trades now is probably not feasable fairly. I have already returned the value of these trades to NYAN.B shareholders as well; my personal profit from the deal was zero since I take no management fees from NYAN.B. (really. I take a small management fee of 5% of profits from NYAN only, not the component funds).

So WRT returning ASICMINER shares, I will respect and follow Nefario's final decision without complaint. I only ask that it be done fairly and equally among everyone who traded, and that we recieve back what we traded for. If that's impossible then we just deserve an equal right to the assets of DMC like every other shareholder. Me especially, being 50% majority holder or more from day one. But that's not really relevant I guess, every shareholder is equal. So, I will leave that decision to Nefario.

P.P.S.
I have exact records for every trade done in NYAN, BMF, and CPA. I can provide and explain these records upon demand, as anyone else who did the trades would be expected to do. For one, everyone has the .CSV files available from GLBSE. So there will be no issue with fairness and accountability, on either side of this.

[BCB]

I've restored a deleted list of assets

I know, this is just a minor fuck up but why not include it here:

BMF sohow the following hardware at the top of the holdings-nav page

Bitforce Single 832 MH/s   2
BitForce Jalapeno 4.5 GH/s   2
BitForce 'SC' Single 60 GH/s   1

HARDWARE TRACKING
               

Item   Order No.      Order Date      Arrival Date
Bitforce Single 832 MH/s   #7650      Sep. 10, 2012      -
BitForce Jalapeno 3.5 GH/s   #7839      Sep. 11, 2012      -
BitForce 'SC' Single 40 GH/s   #7971      Sep. 13, 2012      -
Bitforce Single 832 MH/s   #8665      Sep. 19, 2012      -
Bitforce Jalapeno 3.5 GH/s   #8670      Sep. 19, 2012      -

This is why you shouldn't listen to EskimoBob.