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[pixl8tr]

why s this happening ? i was on the verge of buying some shares whats gone wrong?

Not sure, but speculation is that he (Bitfunder ) is in violation of US laws and fears legal problems.

[zulover]

ok. big brother sam really kicks you where the sun dont shine!!

im in the u.k so still ok?

[pixl8tr]

Well, I don't know anything specific other than the obvious. Since LRM is in the US, he will still need to transfer buy/sell shares. And, since Bitfunder is dropping US support, he will have to move the bonds to another site.  

Non-US users of Bitfunder should be ok to trade buy sell from the information that I see  posted on the Bitfunder site.
You can probably pickup some cheap LRM assets right now, since US residents can't buy, only sell.

[bigasic]

I figured that with btct.co or whatever the name was shutting down, i thought that this would happen. I don't know why they are limiting it to just the USA, but if they are violating US law, they probably are violating many countries' laws. It would make sense to completely shut down or stay in business. but to cherry pick is a chicken shit thing to do... I believe the UK has their own SEC.

This whole thing just pisses me off to no end....

[mmmerlin]

I figured that with btct.co or whatever the name was shutting down, i thought that this would happen. I don't know why they are limiting it to just the USA, but if they are violating US law, they probably are violating many countries' laws. It would make sense to completely shut down or stay in business. but to cherry pick is a chicken shit thing to do... I believe the UK has their own SEC.

This whole thing just pisses me off to no end....

Lol, no - you can only violate the laws of the country you are operating out of!  It's not "a chicken shit thing to do" to cherry pick the laws of your own country 

Most things are illegal somewhere in the world, you wouldn't be able to do anything!

[mmmerlin]

Could some more people panic-sell their shares for ~0.05BTC like people were doing earlier please? I wasn't quick enough... 

[bittymitty]

you can still pick up a bargain @.01 !

We need Lab_Rat to drop some good news now for the rebound.

[Doff]

Could some more people panic-sell their shares for ~0.05BTC like people were doing earlier please? I wasn't quick enough... 

lol

[bigasic]

I figured that with btct.co or whatever the name was shutting down, i thought that this would happen. I don't know why they are limiting it to just the USA, but if they are violating US law, they probably are violating many countries' laws. It would make sense to completely shut down or stay in business. but to cherry pick is a chicken shit thing to do... I believe the UK has their own SEC.

This whole thing just pisses me off to no end....

Lol, no - you can only violate the laws of the country you are operating out of!  It's not "a chicken shit thing to do" to cherry pick the laws of your own country  

Most things are illegal somewhere in the world, you wouldn't be able to do anything!

I was under the impression that bitfunder was operating out of Australia, not the USA.

Also, LRM should consider halting all trades, its not fair just because im in the USA that I cant purchase cheap shares.. if bitfunder had the same rules for everyone, they hey, fair game, but since USA traders cant buy, it makes it very unfair to us.. So, thats another reason it should be all or nothing.. why penalize me because im in the usa, yet someone from the UK can capitalize on it? The rules should be the same for everyone..

Bitfunder should have at least made it so USA holders couldnt sell, then it would be a more even playing field..

Yep, they are out of Australia (since we all know that bitfunder and WEexchange are one and the same) So why pick on the Americans? Doesn't make sense..

Mailing Address:
WeExchange Australia, Pty. Ltd.
12A Bromley Rd.
Hilton, Western Australia 6163
Australia

[mmmerlin]

I was under the impression that bitfunder was operating out of Australia..

I didn't know that. If that's the case then I find this whole episode quite puzzling. Maybe the servers are located in the US? Or the bank accounts?

Also, LRM should consider halting all trades, its not fair just because im in the USA that I cant purchase cheap shares.. if bitfunder had the same rules for everyone, they hey, fair game, but since USA traders cant buy, it makes it very unfair to us.. So, thats another reason it should be all or nothing.. why penalize me because im in the usa, yet someone from the UK can capitalize on it? The rules should be the same for everyone..

I don't know if that's even an option that he has - I haven't seen the issuer back-end of the system as I'm not an issuer. It's supposed to be a free market though (bar these limitations) so it would be quite a strange feature to have implemented IMHO.

Can't you just get a proxy though? Or use a tor browser and just keep clicking on new ID until you get a non-US relay?

If you're really desperate then you can send me the coins and I will buy and hold the bonds for you and transfer you the dividends as I'm in the UK. I'm sure LR will vouch for me if this is of interest.

[bigasic]

I thought about purchasing more, but trust me, I hold enough right now... I was going to slowly sell off my shares, but it looks like thats going to have to wait, lol..... now, lets hope for the HUGE dividends...

He can always takes screen shots and undo the trades between time frames, yes its a pain, probably not worth doing, but its technically doable.... I just wish i didn't hold so many shares, or I would be buying like crazy..

[bigasic]

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

[||bit]

It's odd that Bitfunder doesn't even explain why they are doing this in the notice. Did anyone find a reason?

[mmmerlin]

I thought about purchasing more, but trust me, I hold enough right now... I was going to slowly sell off my shares, but it looks like thats going to have to wait, lol..... now, lets hope for the HUGE dividends...

I know

He can always takes screen shots and undo the trades between time frames, yes its a pain, probably not worth doing, but its technically doable.... I just wish i didn't hold so many shares, or I would be buying like crazy..

He really can't do this. I mean, he could, but he mustn't. Any trades made are between two consenting independent third parties - you can't just "undo" people's sales because you feel like it. That really will result in him getting sued! But I will bet my bottom dollar that he wouldn't do something that crazy.

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Yes, I am confused about this too, both the why and the how. I don't know why he's doing it, and I don't know why he didn't decide to copy the BTCTC shutdown procedure to avoid a panic.

[||bit]

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Seems very possible.

No explanation. Odd timing. Maybe it's a racket to get people to sell bonds/shares across the board to acquire them at low prices.

[Epoch]

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Anyone remember GLBSE?

[bigasic]

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Anyone remember GLBSE?

Even GLBSE he gave an opportunity to move assets, etc.. The way bitfunder did it was not the right way... They should have at least given us a 30 day window to sell/buy whatever, but to shut the doors on US investors was very stupid. Im sure there were many ways he could have handled it better.. GLBSE wasn't nearly as bad as what bitfunder did, well, pretty close, i didnt have any glbse holdings at the time, so I cant speculate.. All I know the way hes handled the bitfunder is totally unacceptable and the exact opposite of how a proper business should be run..

Also, I realize that its not smart for LR to backdate buys and sales, but i was hoping there was a "suspend" button on his end(lab rats)... at least he could calm the storm....

LOL, never thought about it.. maybe he is doing this to buy up shares at a discount rate for himself....probably not, but possible....

I think its ironic that EVERY stock on bitfunder is TANKING!!!

[||bit]

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Anyone remember GLBSE?

Even GLBSE he gave an opportunity to move assets, etc.. The way bitfunder did it was not the right way... They should have at least given us a 30 day window to sell/buy whatever, but to shut the doors on US investors was very stupid. Im sure there were many ways he could have handled it better.. GLBSE wasn't nearly as bad as what bitfunder did, well, pretty close, i didnt have any glbse holdings at the time, so I cant speculate.. All I know the way hes handled the bitfunder is totally unacceptable and the exact opposite of how a proper business should be run..

Also, I realize that its not smart for LR to backdate buys and sales, but i was hoping there was a "suspend" button on his end(lab rats)... at least he could calm the storm....

LOL, never thought about it.. maybe he is doing this to buy up shares at a discount rate for himself....probably not, but possible....

I think its ironic that EVERY stock on bitfunder is TANKING!!!

I thought about that too. See similar comment above.

[bigasic]

Just as I thought. Zach is on it.. He going to have to manually pay out dividends but is looking into an alternative to do trades, he will give us an update in the next couple days....

[Epoch]

The clusterfrack that was GLBSE can happen anywhere; something like it is happening here now.

Bitfunder, like most bitcoin ventures today unfortunately, is pure amateur hour. They are panicking, and so their clients are panicking. I expect LRM to emerge intact, but honestly, these happenings are ridiculous. No one will take bitcoin seriously when these kinds of antics are happening every few months.