DrGregMulhauser
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November 30, 2013, 01:10:49 PM |
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It's good that you know words. It's funny that you believe armchair generals actually matter on the battlefield. Please never change, you've got a good thing going with this unintentional comedy gold. Even if its value is epsilon per megaton, nonetheless you're not going to exceed it doing anything else.
Yada yada yada yaaawwwwnnn. Is there anybody else here besides you?
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Tips: 1GTvfygTCnA5LdE2dX31AtcHho6s6X9H9b BTC Growth
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November 30, 2013, 02:52:48 PM |
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Bugpowder
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November 30, 2013, 04:09:00 PM Last edit: November 30, 2013, 04:29:14 PM by Bugpowder |
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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?
People made an enormous amount of bitcoin off of call options purchased on the site from January to April of 2013. If you ask people in the bitcoin-assets channel, they know. The site paid out 19,000 BTC on March options expiration. That's probably the biggest hit any bitcoin financial product ever took without going under. Here is the financial statement for March. There are people out there that made an utter KILLING that month. MP lost basically all the gains of the previous year. Options were repriced shortly afterwards to more accurately reflect the tail risk volatility, and volume has fallen off dramatically. http://trilema.com/2013/mpoe-march-2013-statement/
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moderate
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nearly dead
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November 30, 2013, 04:15:20 PM |
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I made an enormous amount of bitcoin off of call options purchased on the site from January to April of 2013.
Just to lose it gambling few months later.
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Bogart
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Merit: 1000
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November 30, 2013, 07:24:17 PM |
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I would love for someone to explain to me how mpex.co is not a scam bit I simply cannot understand.
The burden of proof rests on the accuser. You can't just say "prove it's not a scam". What evidence do you have to offer that it is a scam? Can you point to any material lies or misrepresentations, breaches of contract, etc?
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"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S." - President F.D. Roosevelt, 1933
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jimmothy (OP)
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November 30, 2013, 09:34:24 PM |
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I would love for someone to explain to me how mpex.co is not a scam bit I simply cannot understand.
The burden of proof rests on the accuser. You can't just say "prove it's not a scam". What evidence do you have to offer that it is a scam? Can you point to any material lies or misrepresentations, breaches of contract, etc? As far as I know, every part of this scam is outlined in the contract. This does not make it any less of a scam, but a scam that users are accidentally agreeing to it. Parts I found scammy/schemey: - Main source if revenue directly related to the amount of noobs that can be recruited and made to pay the 30btc registration fee. - Bashes all other security exchanges yet is not even a real stock exchange and instead a gambling site. - Other main source of revenue relies on a robots ability to predict the future where their users cannot. Unless this robot is in possesion of a magic 8-ball, it is doing nothing but gambling. - No real value created. One guy loses money and one guy wins the other guys losses. Money is switching hands but never is value created like a normal business. - nonfunctional securities. 2 securities for gambling sites, 1 for a video game dev (only source of creating value related to this scheme albeit very little value) and of course s.mpoe which gets its profits from recruiting noobs to pay the registration fee and hopefully gamble against the robot and lose. - Website designed to mislead. Everything about the site reeks of bullshit. Designed to make you think you are "investing" in something legit but really you are throwing money away unless you are taking part in the scheme. Point of this thread was to determine what mpex does and whether its profits come from actually creating value which has become clear is not the case.
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MPOE-PR
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November 30, 2013, 09:49:02 PM |
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As far as I know, every part of this scam is outlined in the contract. This does not make it any less of a scam, but a scam that users are accidentally agreeing to it.
Parts I found scammy/schemey:
- Main source if revenue directly related to the amount of noobs that can be recruited and made to pay the 30btc registration fee.
- Bashes all other security exchanges yet is not even a real stock exchange and instead a gambling site.
- Other main source of revenue relies on a robots ability to predict the future where their users cannot. Unless this robot is in possesion of a magic 8-ball, it is doing nothing but gambling.
- No real value created. One guy loses money and one guy wins the other guys losses. Money is switching hands but never is value created like a normal business.
- nonfunctional securities. 2 securities for gambling sites, 1 for a video game dev (only source of creating value related to this scheme albeit very little value) and of course s.mpoe which gets its profits from recruiting noobs to pay the registration fee and hopefully gamble against the robot and lose.
- Website designed to mislead. Everything about the site reeks of bullshit. Designed to make you think you are "investing" in something legit but really you are throwing money away unless you are taking part in the scheme.
Point of this thread was to determine what mpex does and whether its profits come from actually creating value which has become clear is not the case.
Wow. I read a lot of retarded shit on these forums, but this is prime retarded rib.
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jimmothy (OP)
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November 30, 2013, 09:58:55 PM |
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I am a finance noob but really try to understand what "creates value" or how the businesses you are referring to work (BitBet's certainly more than gambling). And if you think mining companies create more value, well... Bitbet is more than gambling? I thought that was literally all it is. Mining companies create items people want to buy. A real product with real value. Mpex just moves money..
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freethink2013
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November 30, 2013, 10:03:03 PM |
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Wow an MPOE_PR post followed directly by a pankkake post.
For the uninitiated here's how it goes.
1. Someone criticized MP 2. MPOE-PR insults everyone. Calls them fools for not understanding how MP is bigger than google/fb/amazon etc 3. pankkake says "wow I can walk! this snake oil from MP works fuck the critics!"
This play is as old as the hillls
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jimmothy (OP)
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November 30, 2013, 10:20:08 PM |
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Wow. I read a lot of retarded shit on these forums, but this is prime retarded rib.
Clearly you have demonstrated your ability to hurl insults at me and others on the forum who question your business. I really just want to know where your money comes from? I am pretty sure the reason you wont give me or anyone else a simplified answer is because it would become clear that you do nothing but move money. I really wish you would take the time to explain how you make money with the same clarity and simplicity of your insults.
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freethink2013
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November 30, 2013, 10:23:51 PM |
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I am here where the lols are! Truth be told, I was expecting a better response from Ms. Tittylicious. I hear you on the lols tbf. I feel that although mp is a business based on tricking people, most of those people kind of deserve it. If anything screamed "don't pay me money to join" then mpex said that. I think though that by dealing with so many fools maybe mp has started thinking 100% of people are fools when it's only 99.999% It's just not the way I'd run a business. I think ethics and fairness have to play a role.
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davout
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1davout
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November 30, 2013, 10:25:42 PM |
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you do nothing but move money.
dem lulz
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November 30, 2013, 10:30:07 PM |
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I feel that although mp is a business based on tricking people
There is an easier way to decide that than feeling it. How many people have paid 30 BTC to use it ? PR girl, this is a simple one to answer.
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MPOE-PR
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November 30, 2013, 11:15:59 PM |
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There is an easier way to decide that than feeling it. How many people have paid 30 BTC to use it ? PR girl, this is a simple one to answer.
Each monthly report contains the answer for that month. A tally was published a while back; any time one of the local retards feels inclined to do something actually useful he could go add up said reports and come up with some useful data.
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freethink2013
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November 30, 2013, 11:20:42 PM |
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The whole mp bus plan is this: we're never gonna run out of retards!
I'd like to criticize it and i don't think it's morally right BUT I don't think it's wrong either
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jimmothy (OP)
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November 30, 2013, 11:29:34 PM |
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There is an easier way to decide that than feeling it. How many people have paid 30 BTC to use it ? PR girl, this is a simple one to answer.
Each monthly report contains the answer for that month. A tally was published a while back; any time one of the local retards feels inclined to do something actually useful he could go add up said reports and come up with some useful data. Sorry I'm not able to access your shitty blog and definately not going to pay 0.01 to read it. Can you just answer simple questions? We want a number of users who payed the registration fee. A single number shouldn't be too hard to provide or even a rough estimate would do. But linking your shitty blog expecting me to pay 0.01btc to wade though the nonsense is not going to happen.
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MPOE-PR
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November 30, 2013, 11:34:47 PM |
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Sorry I'm not able to access your shitty blog and definately not going to pay 0.01 to read it.
Can you just answer simple questions? We want a number of users who payed the registration fee. A single number shouldn't be too hard to provide or even a rough estimate would do.
But linking your shitty blog expecting me to pay 0.01btc to wade though the nonsense is not going to happen.
I'm sorry, I cost 12 BTC a month. I don't entertain requests coming from 0.01 BTC noobs.
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moderate
Member
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November 30, 2013, 11:45:52 PM |
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I'm sorry, I cost 12 BTC a month. I don't entertain requests coming from 0.01 BTC noobs.
Quite the job for doing see here all day long, congratulations on that.
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MPOE-PR
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November 30, 2013, 11:57:59 PM |
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Quite the job for doing see here all day long, congratulations on that. Apparently you lot have such a good reputation, people seem to think I'm not getting paid nearly enough. <mike_c> whatever you are paying her to hang out in the den of retardation all day - it's not enough.
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Peter Lambert
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December 02, 2013, 07:18:55 PM |
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This thread is full of misinformed idiots attacking MPEx as a scam without understanding what it is.
"How is this possibly valued so high?" - It is a bitcoin based business which earns income in bitcoins and has a track record of surviving attacks by starting with strong security from the beginning. It earns income, pays dividends, gives monthly reports.
"Where is it possibly getting any income from?" - They publish reports every month detailing things like this. Go read the monthly report to find out. Registration fees, trading fees, option fees, etc.
"It costs 30 btc to sign up, why would anybody use it?" - People use it because it works. If you do not want to pay the 30 btc registration you can use a broker like CoinBr to avoid the registration fee.
"But it is trading at a PE of 97, why would anybody buy that?" - This is bitcoin, a deflating currency. For a steady company it makes sense for the yield to be very low, since you are gaining value on top of the bitcoin you started with. The only reason all the other stocks are trading at such low PE's is because of the huge risk factors. MPOE is seen by the market as being low risk, therefore there is a high PE. Also, people are buying in for the amazing potential future profits; there are just a few stocks listed now, but as the serious financial types from around the world get into the bitcoin space, more listings will be added.
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Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
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