Hi! BitCoin Fully Decentralized Hard Asset Backed Bank!

[Aahzman]

I HAVE BEEN ADVISED to DISCLAIM that this is a Research Project, and that NO LIVE TRANSACTIONS In relation to the project have Ever Been Exchanged or Transmitted to this Ficticious Reserach and Development Project.

You claimed earlier you had clients:

The structures and foundations are sound, and have been working for our 45 active clients very well.

Oh wait, this is fictitious. Your clients are a fiction, or as some people might word it a 'lie'.

THIS PROJECT Seeks To Present a Fictitious Operation

Yes, it does. We've been telling you that since the beginning.

You would be correct - but what you did not know is that the Clients are MODELS, and Not Real People. But that would have been discussed with a prospective investor, not here in public, as it was part of the social research.

You had to believe it was real so we could input REAL responses from parties.

But, now that has led you, with your assumptions, down the wrong road, because you chose to be baligarent and contemptuous.

We welcome any visit from any authorities, so we may lay charges as required for Claims Base On Speculation.

You should have just send an email to info@bgmco.info, instead of being a dumb ass.

As I do. Donate for brickology research, people. Better bricks means better houses and a safer quieter neighborhood. Well, after the screaming stops at least.

I would prefer face-forking-via-internet technology over brickology. Bricks are a much weightier data packet with which to assault people for donations. Forks to the face are much more bandwidth friendly.

[odolvlobo]

How does your bank make money?

As the Money Outfitter would be a decentralized system, costs are extremely low. Operations could be set up where people could become self employed by them. We would have part of our money then come by the way of branding. We, as a service having financial interests, would also make investments, and a plethora of other vehicles by which to grow.

As such costs of operation are low, and if people around the world became "financial organizations that helped people move around thier money, make money through interst, etc" this woudl be a viable mass relese option by which banking could quickly become obsolete as we know it.

However, the need to preserve value is always primal and basal. A BitCoin has only a perceived and speculative value; to keep that value 'alive' it must be converted to tangible, fungible, real hard 'value items or inventories'.

Of our "setup/structures", the Financial Aspect is only 1/3 of the entire projects. We are attempting a Triumptive Approach. So we make money, be it little, off the financial branch, then some off branding, certifications for verified and reliable traders of the Currencies, and so forth.

It is but one small bit of a much bigger structure.

Thanks for yoru question!

Obviously, you made all this up as you were typing it. It's pretty good. It looks like it actually contains real information as long as you don't read it very closely. Why are you not putting your creative talents into more lucrative (and legitimate) ventures? Scamming people doesn't pay very well, as you probably already know.

[laffenlarry]

How does your bank make money?

As the Money Outfitter would be a decentralized system, costs are extremely low. Operations could be set up where people could become self employed by them. We would have part of our money then come by the way of branding. We, as a service having financial interests, would also make investments, and a plethora of other vehicles by which to grow.

As such costs of operation are low, and if people around the world became "financial organizations that helped people move around thier money, make money through interst, etc" this woudl be a viable mass relese option by which banking could quickly become obsolete as we know it.

However, the need to preserve value is always primal and basal. A BitCoin has only a perceived and speculative value; to keep that value 'alive' it must be converted to tangible, fungible, real hard 'value items or inventories'.

Of our "setup/structures", the Financial Aspect is only 1/3 of the entire projects. We are attempting a Triumptive Approach. So we make money, be it little, off the financial branch, then some off branding, certifications for verified and reliable traders of the Currencies, and so forth.

It is but one small bit of a much bigger structure.

Thanks for yoru question!

Obviously, you made all this up as you were typing it. It's pretty good. It looks like it actually contains real information as long as you don't read it very closely. Why are you not putting your creative talents into more lucrative (and legitimate) ventures? Scamming people doesn't pay very well, as you probably already know.

Yes, I understand that is your opinion. You may continue to have it as long as you wish.

And I don't need lucrative.

But, I expect your future responses to be much the same, or at least along the same line of disapproval, so you will excuse me, and us, if we no longer participate in providing you replies.

That being said - I suppose after we speak with the authorities, which we here have openely welcomed and invited to contact us, we shall see what it is - or what it is not.

[David Rabahy]

I have an idea; a high quality begging robot.  I will need funding to develop it.  If it works out well then I will return your funds plus.  If it does not then I won't.

My true aim is to see how quickly I can collect more than Rob did.

16V9UivwWtp6iGsaRnWycUjZJBcDDQRmV4

Rob, relax and beg with a little less energy.

[laffenlarry]

I have an idea; a high quality begging robot.  I will need funding to develop it.  If it works out well then I will return your funds plus.  If it does not then I won't.

My true aim is to see how quickly I can collect more than Rob did.

16V9UivwWtp6iGsaRnWycUjZJBcDDQRmV4

Rob, relax and beg with a little less energy.

Even I value competitions! Especially frivolous little tit-for-tats!

I DONATED to your "Cause" (whatever it may be) - you will have received: 0.10 USD! (There's my dime, and it was worth more than your two cents)! Good luck with your little efforts!

*Yes this was not 'IN SUPPORT" of anything this poster presented, in case that was missed*

[dflatline]

The authorities aren't going to talk to you Robert, in your words this is a 'fictitious operation' and your clients are 'not real people'. By your very own words you are a liar:

You had to believe it was real so we could input REAL responses from parties.

It is interesting to note, however, that you did not admit this without the threat of legal consequences. Regardless, the CAFC doesn't prosecute they compile investigative reports. Though part of the RCMP they are an intelligence branch. After an investigative report is compiled, which can take a long time it is then released to the relevant police department who do the actual 'prosecuting' if necessary.

You're not breaking the law 'roleplaying' fake-bank on the internet (you have admitted this is what you are doing). But as soon as you accept any sort of deposit with the intention to pay interest on it, as a business, you are committing a serious crime even if you do pay the interest (which you can't). So keep that in mind.

They may however prosecute you for allegations that you molested an 8 year old boy whilst at Athabasca University in 2002.

[laffenlarry]

The authorities aren't going to talk to you Robert, in your words this is a 'fictitious operation' and your clients are 'not real people'. By your very own words you are a liar:

You had to believe it was real so we could input REAL responses from parties.

It is interesting to note, however, that you did not admit this without the threat of legal consequences. Regardless, the CAFC doesn't prosecute they compile investigative reports. Though part of the RCMP they are an intelligence branch. After an investigative report is compiled, which can take a long time it is then released to the relevant police department who do the actual 'prosecuting' if necessary.

You're not breaking the law 'roleplaying' fake-bank on the internet (you have admitted this is what you are doing). But as soon as you accept any sort of deposit with the intention to pay interest on it, as a business, you are committing a serious crime even if you do pay the interest (which you can't). So keep that in mind.

They may however prosecute you for allegations that you molested an 8 year old boy whilst at Athabasca University in 2002.

You obviously have no understanding of the law; nor how it is used, applied, nor works.

If you did - you would not commit libel.

But thank you for your comment and stating your opinion.

[dflatline]

The authorities aren't going to talk to you Robert, in your words this is a 'fictitious operation' and your clients are 'not real people'. By your very own words you are a liar:

You had to believe it was real so we could input REAL responses from parties.

It is interesting to note, however, that you did not admit this without the threat of legal consequences. Regardless, the CAFC doesn't prosecute they compile investigative reports. Though part of the RCMP they are an intelligence branch. After an investigative report is compiled, which can take a long time it is then released to the relevant police department who do the actual 'prosecuting' if necessary.

You're not breaking the law 'roleplaying' fake-bank on the internet (you have admitted this is what you are doing). But as soon as you accept any sort of deposit with the intention to pay interest on it, as a business, you are committing a serious crime even if you do pay the interest (which you can't). So keep that in mind.

They may however prosecute you for allegations that you molested an 8 year old boy whilst at Athabasca University in 2002.

You obviously have no understanding of the law; nor how it is used, applied, nor works.

If you did - you would not commit libel.

But thank you for your comment and stating your opinion.

Are you saying they wouldn't investigate and prosecute allegations that Robert Chamberlain molested an 8 year old boy whilst at Athabasca University in 2002?

[laffenlarry]

The authorities aren't going to talk to you Robert, in your words this is a 'fictitious operation' and your clients are 'not real people'. By your very own words you are a liar:

You had to believe it was real so we could input REAL responses from parties.

It is interesting to note, however, that you did not admit this without the threat of legal consequences. Regardless, the CAFC doesn't prosecute they compile investigative reports. Though part of the RCMP they are an intelligence branch. After an investigative report is compiled, which can take a long time it is then released to the relevant police department who do the actual 'prosecuting' if necessary.

You're not breaking the law 'roleplaying' fake-bank on the internet (you have admitted this is what you are doing). But as soon as you accept any sort of deposit with the intention to pay interest on it, as a business, you are committing a serious crime even if you do pay the interest (which you can't). So keep that in mind.

They may however prosecute you for allegations that you molested an 8 year old boy whilst at Athabasca University in 2002.

You obviously have no understanding of the law; nor how it is used, applied, nor works.

If you did - you would not commit libel.

But thank you for your comment and stating your opinion.

Are you saying they wouldn't investigate and prosecute allegations that Robert Chamberlain molested an 8 year old boy whilst at Athabasca University in 2002?

If you have been brought to having nothing better than slinging malarkey - I am fully satisfied with my positions as presented.

Allege away - but be careful of those things you cannot substantiate.

[dflatline]

The authorities aren't going to talk to you Robert, in your words this is a 'fictitious operation' and your clients are 'not real people'. By your very own words you are a liar:

You had to believe it was real so we could input REAL responses from parties.

It is interesting to note, however, that you did not admit this without the threat of legal consequences. Regardless, the CAFC doesn't prosecute they compile investigative reports. Though part of the RCMP they are an intelligence branch. After an investigative report is compiled, which can take a long time it is then released to the relevant police department who do the actual 'prosecuting' if necessary.

You're not breaking the law 'roleplaying' fake-bank on the internet (you have admitted this is what you are doing). But as soon as you accept any sort of deposit with the intention to pay interest on it, as a business, you are committing a serious crime even if you do pay the interest (which you can't). So keep that in mind.

They may however prosecute you for allegations that you molested an 8 year old boy whilst at Athabasca University in 2002.

You obviously have no understanding of the law; nor how it is used, applied, nor works.

If you did - you would not commit libel.

But thank you for your comment and stating your opinion.

Are you saying they wouldn't investigate and prosecute allegations that Robert Chamberlain molested an 8 year old boy whilst at Athabasca University in 2002?

If you have been brought to having nothing better than slinging malarkey - I am fully satisfied with my positions as presented.

Allege away - but be careful of those things you cannot substantiate.

No-ones making any allegations, Robert. Whether Robert Chamberlain molested an 8 year old boy whilst at Athabasca University in 2002 would be something for the courts to decide.

[Slackware1995]

What he's counting on is that the value of BTC vs other currencies will continue going up.

He gave an example of it, and no one saw it for what it is.

You deposit 1 BTC worth currently $100 (more like $142 right now) today. It gets listed internally as a $100 deposit. When you wish to withdraw your BTC, he converts your $100 into BTC at current market prices. Let's say it's now worth $142 per BTC. You get 0.70422535 BTC (because you only have $100 in BTC on account), but he takes a 2.25% fee from that too. You get back 0.68838028 BTC. In no way do you "deposit 1BTC" and get back 1BTC (unless the value of BTC drops)

Of course he can afford to pay 4% interest. He's betting on BTC growing in value. The only way to get more BTC back is if the value of BTC drops. I for one think we are well past that. When BTC hit $100 it became newsworthy and more people are interested now.

[laffenlarry]

What he's counting on is that the value of BTC vs other currencies will continue going up.

He gave an example of it, and no one saw it for what it is.

You deposit 1 BTC worth currently $100 (more like $142 right now) today. It gets listed internally as a $100 deposit. When you wish to withdraw your BTC, he converts your $100 into BTC at current market prices. Let's say it's now worth $142 per BTC. You get 0.70422535 BTC (because you only have $100 in BTC on account), but he takes a 2.25% fee from that too. You get back 0.68838028 BTC. In no way do you "deposit 1BTC" and get back 1BTC (unless the value of BTC drops)

Of course he can afford to pay 4% interest. He's betting on BTC growing in value. The only way to get more BTC back is if the value of BTC drops. I for one think we are well past that. When BTC hit $100 it became newsworthy and more people are interested now.

You are SO Close to seeing it. So Close. There is but only single misinterpretation that you have made. And, if you can find it - you too will be sitting on over 7'000'000.00 and not want to just give it away either.

Personally I dont' care one way or another - this is just seeing if the whole idea is worth pursuing and dumping everything i've got into it.

Simple really.

Dig deep. I've already shown the secret of it, and exactly how the processes work.

If you are a quick to the races - it could indeed be as another poster put it .. "lucrative"; and you dont' even need me to do it! (if you look deep enough).

[johnblaze]

What he's counting on is that the value of BTC vs other currencies will continue going up.

He gave an example of it, and no one saw it for what it is.

You deposit 1 BTC worth currently $100 (more like $142 right now) today. It gets listed internally as a $100 deposit. When you wish to withdraw your BTC, he converts your $100 into BTC at current market prices. Let's say it's now worth $142 per BTC. You get 0.70422535 BTC (because you only have $100 in BTC on account), but he takes a 2.25% fee from that too. You get back 0.68838028 BTC. In no way do you "deposit 1BTC" and get back 1BTC (unless the value of BTC drops)

Of course he can afford to pay 4% interest. He's betting on BTC growing in value. The only way to get more BTC back is if the value of BTC drops. I for one think we are well past that. When BTC hit $100 it became newsworthy and more people are interested now.

Ok. That makes sense.

Why didn't he post this example when I asked him how he plans to make money?

His response made absolutely no sense to me.

[dflatline]

What he's counting on is that the value of BTC vs other currencies will continue going up.

He gave an example of it, and no one saw it for what it is.

You deposit 1 BTC worth currently $100 (more like $142 right now) today. It gets listed internally as a $100 deposit. When you wish to withdraw your BTC, he converts your $100 into BTC at current market prices. Let's say it's now worth $142 per BTC. You get 0.70422535 BTC (because you only have $100 in BTC on account), but he takes a 2.25% fee from that too. You get back 0.68838028 BTC. In no way do you "deposit 1BTC" and get back 1BTC (unless the value of BTC drops)

Of course he can afford to pay 4% interest. He's betting on BTC growing in value. The only way to get more BTC back is if the value of BTC drops. I for one think we are well past that. When BTC hit $100 it became newsworthy and more people are interested now.

Ok. That makes sense.

Why didn't he post this example when I asked him how he plans to make money?

His response made absolutely no sense to me.

What Slackware has said makes sense, but it's nothing to do with what laffenlarry has said. laffenlarry will not be holding deposits in bitcoin; he believes it has no value.

[BurtW]

Repeated from earlier in the thread.  I think this is closer to what will happen if they/he ever actually does it:

In this example I deposit 100 BTC in your "bank" and tie it to the USD internally by choice.  Now internally you either hold the BTC or you sell them for USD on the market right away.  You must do one or the other.  Assume you hold the BTC and at the time I deposit the coins the price is $200 per BTC.  So I have $20,000 on deposit, right?   I come back a few months later and ask for my $20,000 back.  But assume the price has dropped to only $100 per BTC!  In order to get me my $20,000 you will need to give me 200 BTC but you only have 100!  You will need to go buy 100 more BTC in order to pay me back my $20,000 you own me.  This will cost you $10,000 right out of your profits!

So I conclude that in order for your system to work you will need to sell the BTC as soon as you get them - or you might go out of business very quick.

So he is forcing you into USD (or some other fiat) deposits, selling the BTC as soon as he gets them (they have no value according to him), and hopfully returning your fiat denominated deposits when you ask for them back.

In his own words:  BTC is just used for transport into and out of his black bock fiat denominated system.

He does say he can pay you 4% on you fiat denominated deposits - which is better than some banks I guess.

[Slackware1995]

What he's counting on is that the value of BTC vs other currencies will continue going up.

He gave an example of it, and no one saw it for what it is.

You deposit 1 BTC worth currently $100 (more like $142 right now) today. It gets listed internally as a $100 deposit. When you wish to withdraw your BTC, he converts your $100 into BTC at current market prices. Let's say it's now worth $142 per BTC. You get 0.70422535 BTC (because you only have $100 in BTC on account), but he takes a 2.25% fee from that too. You get back 0.68838028 BTC. In no way do you "deposit 1BTC" and get back 1BTC (unless the value of BTC drops)

Of course he can afford to pay 4% interest. He's betting on BTC growing in value. The only way to get more BTC back is if the value of BTC drops. I for one think we are well past that. When BTC hit $100 it became newsworthy and more people are interested now.

Ok. That makes sense.

Why didn't he post this example when I asked him how he plans to make money?

His response made absolutely no sense to me.

What Slackware has said makes sense, but it's nothing to do with what laffenlarry has said. laffenlarry will not be holding deposits in bitcoin; he believes it has no value.

I never stated that he'd hold or not hold BTC. I just showed how he takes BTC, and accounts for it on his ledger, then how he pays (scams) you back in BTC. His risk is very low, his customer risks are very high.

As another example, about 2 months ago BTC was worth about $25. If you deposited 1 BTC with him back then, your ledger would show $25. Withdrawing today would get you 0.176 BTC before he takes his "fee".

No thanks, I'll hold my BTC today so that tomorrow it's still a BTC.

Edit: He claims that he will buy assets to "make a profit", but for all we know, those assets could just be a house to live in, a car to drive, maybe some gold in a safe. What he buys with these huge profits matter not a bit.

[threeip]

Triumptive Approach lol

[laffenlarry]

Ok - We have decided to put it out there, and see who else catches on - and if they do maybe they'll send us a email.

Start here.

The Premise: There Is No Money. You were taught it does. But it does not.

Now, throw out everything you learned about finance, economics, and currency, and think about: Barter and Exchange processes.

Now - GO FETCH! There's the bone!

I'll just sit back and watch the world change from right here - as I'm already there. I shall enjoy seeing what comes from it.

[Slackware1995]

Ok - We have decided to put it out there, and see who else catches on - and if they do maybe they'll send us a email.

Start here.

The Premise: There Is No Money. You were taught it does. But it does not.

Now, throw out everything you learned about finance, economics, and currency, and think about: Barter and Exchange processes.

Now - GO FETCH! There's the bone!

I'll just sit back and watch the world change from right here - as I'm already there. I shall enjoy seeing what comes from it.

Barter and Exchange processes is a form of money, or more correctly money is a form of Barter and Exchange processes. You are not inventing anything, except a hope for a quick get rich scheme.

[BurtW]

In his world a 4% yearly return on fiat deposits sounds "good"

Meanwhile in Bitcoinland we can make 4% a week just lending fiat to BTC day traders and speculators.

As I have said many time before he/they need to learn more about what is happening here before they try and jump in with some hacked up old fiat based tried and failed many times barter/exchange basket of goods idea.

EDIT:  Good night gentlemen.