[Mpex.co] The Scientology of Bitcoin Finance?

[jimmothy]

So after roughly a year of bitcoining I have come to the conclusion that mpex.co or Mircea Popescu Exchange (Formerly Mircea popescu options emporium?) does literally nothing but move bitcoins from one wallet to the next and in most cases ending up in Mircea Popescu's wallet.

30 Bitcoin Registration Fee and you get the choice of an failed video game company, bitbet.us (not sure why they need funding with all the fees), and MPOE itself whose profits consist mostly of those 30 bitcoin registration fees.

Normally "investing" is when you give capital to someone who needs it to create something of value. I don't see any value coming out of mpex.co whatsoever. Their biggest success story is a gambling website (again not really creating value, just taking btc from one person and giving it the next.)

One last thing that does not really prove that mpex.co is a scam but I cant be the only one to notice that Mircea Popescu speaks like a sci-fi super-villain.

I would love for someone to explain to me how mpex.co is not a scam bit I simply cannot understand.

In the end it looks like Mircea Popescu is walking away with 30,000 btc (according to some richest bitcoiners thread)

Has anyone else besides him made a profit from the site?

[bryant.coleman]

With Bitcoin breaking the $1,000 barrier, it is extremely risky to invest in these crypto-stocks anymore. I have learnt my lesson after I lost half of all my bitcoins in BTC-TRADING-PT.  You never know when these exchanges will shut down. Better not to invest in them.

[MPOE-PR]

More like 700k.

[jimmothy]

More like 700k.

ok you have 700k btc or roughly 700 milllion usd invested in your company.

What the fuck do you even do?? Seriously how can you justify nearly a billion usd company evaluation when you literally have no value.

To clarify look at asicminer. They make asic hardware and mine bitcoins. What do you do?

[thecoinjournal]

And it made it even without any basic css work, amazing.

[thecoinjournal]

More like 700k.

ok you have 700k btc or roughly 700 milllion usd invested in your company.

What the fuck do you even do?? Seriously how can you justify nearly a billion usd company evaluation when you literally have no value.

To clarify look at asicminer. They make asic hardware and mine bitcoins. What do you do?

What I learned from investing in the bitcoin world is that you don't need to do anything but sit tight on your coins.

[MPOE-PR]

More like 700k.

ok you have 700k btc or roughly 700 milllion usd invested in your company.

What the fuck do you even do?? Seriously how can you justify nearly a billion usd company evaluation when you literally have no value.

To clarify look at asicminer. They make asic hardware and mine bitcoins. What do you do?

MP is and has been the only major thing happening in BTC. See here, for instance.

MP says what's what and who's who. That's what he does.

What I learned from investing in the bitcoin world is that you don't need to do anything but sit tight on your coins.

This is correct, look at the S.MG reports for instance.

And for that matter: MPEx paid ~85k BTC dividends over ~850k mkt cap in fiscal year 2012 (May to May).

Meanwhile Asicminer, since you happened to use that example, paid about 50% more, for a significantly lower valuation. This is what you get for having poor management instead of MP.

[jimmothy]

More like 700k.

ok you have 700k btc or roughly 700 milllion usd invested in your company.

What the fuck do you even do?? Seriously how can you justify nearly a billion usd company evaluation when you literally have no value.

To clarify look at asicminer. They make asic hardware and mine bitcoins. What do you do?

MP is and has been the only major thing happening in BTC. See here, for instance.

MP says what's what and who's who. That's what he does.

Ok so it is your blog that is worth nearly 1 billion USD? I noticed you charge an incredible 0.01 btc for unlimited reading access is this your only source of revenue?

[jimmothy]

This is correct, look at the S.MG reports for instance.

And for that matter: MPEx paid ~85k BTC dividends over ~850k mkt cap in fiscal year 2012 (May to May).

I would love to know what the "ministry of games" does if you could provide a link that is from any source other than your own.

As for the ~85k BTC dividends, Impressive but where did that come from?

[jimmothy]

And it made it even without any basic css work, amazing.

This is the best part. With a 1 billion USD website you would think that they could hire a css web designer for a week or even a day costing ~1btc at the most.

[MPOE-PR]

Ok so it is your blog that is worth nearly 1 billion USD? I noticed you charge an incredible 0.01 btc for unlimited reading access is this your only source of revenue?

Listen, you can go say the same thing on the yahoo finance boards associated with JPM, "oh, so is the JPM blog the source of revenue??!!?!?!?"

There's no requirement for you to understand what's going on, or agree with it, or sign off on it. This is why you're irrelevant, that's the definition of the term.

Reality just is what it is, whether palatable or not, acceptable or not. You may submit to it, go do your reading, learn what's what and change to match, or else enjoy insanity, play on forums and reddit all day and so on.

[jimmothy]

Ok so it is your blog that is worth nearly 1 billion USD? I noticed you charge an incredible 0.01 btc for unlimited reading access is this your only source of revenue?

Listen, you can go say the same thing on the yahoo finance boards associated with JPM, "oh, so is the JPM blog the source of revenue??!!?!?!?"

There's no requirement for you to understand what's going on, or agree with it, or sign off on it. This is why you're irrelevant, that's the definition of the term.

Reality just is what it is, whether palatable or not, acceptable or not. You may submit to it, go do your reading, learn what's what and change to match, or else enjoy insanity, play on forums and reddit all day and so on.

JPMorgan Chase & Co. is an American multinational banking and financial services holding company, and the largest bank in the United States by assets

If you think JPmorgan consists of only a blog, you might be the one out of touch with reality. JP Morgan owns more shit than any bitcoiner can dream of and it is because of over a hundred years of dominating market after market.

So what exactly do you do? Are you a bank?

You keep telling me I don't understand what you do and you are right. I don't think anybody understands what you do and we want to know.

[MPOE-PR]

JPMorgan Chase & Co. is an American multinational banking and financial services holding company, and the largest bank in the United States by assets

If you think JPmorgan consists of only a blog, you might be the one out of touch with reality. JP Morgan owns more shit than any bitcoiner can dream of and it is because of over a hundred years of dominating market after market.

So what exactly do you do? Are you a bank?

You keep telling me I don't understand what you do and you are right. I don't think anybody understands what you do and we want to know.

MPEx is the largest Bitcoin financials entity, by a very large margin. JPM is 1-2% of the fiat market, MPEx is somewhere way up over two thirds of the Bitcoin space.

Which is why MPEx is valued at about 5% of all Bitcoin and JPM at about 0.0x% of all fiat.

[jimmothy]

JPMorgan Chase & Co. is an American multinational banking and financial services holding company, and the largest bank in the United States by assets

If you think JPmorgan consists of only a blog, you might be the one out of touch with reality. JP Morgan owns more shit than any bitcoiner can dream of and it is because of over a hundred years of dominating market after market.

So what exactly do you do? Are you a bank?

You keep telling me I don't understand what you do and you are right. I don't think anybody understands what you do and we want to know.

MPEx is the largest Bitcoin financials entity, by a very large margin. JPM is 1-2% of the fiat market, MPEx is somewhere way up over two thirds of the Bitcoin space.

Which is why MPEx is valued at about 5% of all Bitcoin and JPM at about 0.0x% of all fiat.

Do you hold 5% of all bitcoins? JPM has a massive amount of money and a massive amount of revenue streams. How much bitcoins does MPEx hold and what sources of revenue are adding to that?

[MPOE-PR]

Do you hold 5% of all bitcoins? JPM has a massive amount of money and a massive amount of revenue streams. How much bitcoins does MPEx hold and what sources of revenue are adding to that?

Figure it out, sparky.

[velacreations]

MPEx is the largest Bitcoin financials entity, by a very large margin.

Bullshit.

[Kosmatos]

Have you seen the MPEX web site? Case closed. User ignored.

[superduh]

go to mpex, pay mpex 30 bitcoins, profit?

[Bitcycle]

JPMorgan Chase & Co. is an American multinational banking and financial services holding company, and the largest bank in the United States by assets

If you think JPmorgan consists of only a blog, you might be the one out of touch with reality. JP Morgan owns more shit than any bitcoiner can dream of and it is because of over a hundred years of dominating market after market.

So what exactly do you do? Are you a bank?

You keep telling me I don't understand what you do and you are right. I don't think anybody understands what you do and we want to know.

MPEx is the largest Bitcoin financials entity, by a very large margin. JPM is 1-2% of the fiat market, MPEx is somewhere way up over two thirds of the Bitcoin space.

Which is why MPEx is valued at about 5% of all Bitcoin and JPM at about 0.0x% of all fiat.

LOL.  You're a comic genius.

[thestringpuller]

I would love for someone to explain to me how mpex.co is not a scam bit I simply cannot understand.

Isn't MPEX the only place you can reliable underwrite and buy options against the USD value of BTC?

I would say this is value enough, given April 2013 would likely have been a lot worse had MPEx not existed.

The shareholder report for March: http://trilema.com/2013/mpoe-march-2013-statement/ kinda shows that.

Additionally, those who bought MPEx accounts in 2012, and as well bought S.MPOE before the 2nd batch of the IPO are likely all millionaires (in USD terms) at this point.

So to be honest, I really don't see how it is a scam. Perhaps the other businesses in their infancy seem a tad questionable, but MPOE-bot I think has proven itself as a valuable asset to the Bitcoin world as a whole.