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Author Topic: [was on GLBSE] LIF.x  (Read 20856 times)
LoupGaroux
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January 19, 2012, 04:42:55 PM
 #61

Not actually, no you didn't just announce it as a scam. You announced that you were getting out of the "biz" and that most of the investments you made were scams because you were not able to liquidate the way you wanted.

Offering now to perhaps, maybe buy some of these now worthless assets back, if you maybe somehow manage to gin together a couple of bitcoins is tantamount to admitting you are a scammer.

Your balance sheets indicated as late as yesterday that the funds controlled thousands of bitcoins when last reported. This was after your claimed sell-off. You have indicated that you were intimately involved in researching every asset, and went so far as publishing a blog detailing your studies (which has since been taken down, interestingly!) Yet you expect us to believe that you just tired of the business and somehow got hoodwinked on 97% of the value of what you claimed?

Lies.

I wonder if you ever even invested in a single share of anything, because the activity histories of the assets on the GLBSE do not match up with your claim of a massive sell off at a loss. I suspect you took a lot of investment in, sat on it and have cashed it out, while trying to cover your theft with this lame nonsense about scammers and ghost bids. I suspect you are behind the USGOLD fraud and the GLBSE fraud shares, and became the mouthpiece of outrage and shock when they had grabbed all you thought you could get.

I call for you to carry a scammer tag until you make good on the losses your dismal management of the LIF Funds generated. What you have stolen from me personally amounts to 45.5 btc when I subtract the liquidation value from the price you were pumping up until minutes before your FUD tease and announcement.

Until 45.5 btc is received at 1yh7GAp2bmGPLbjtkuZR26NCgn5QsnwcN I will continue to call out your theft and criminal activities and demand that you carry a scammer tag. I encourage all other victims of your fraud to keep you in the public's eye.

I trust that the physical address you listed in your investment offering materials will also serve for service of legal documents.

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Ben Walsh (beamer)
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January 19, 2012, 05:03:11 PM
 #62

I have sold my LIF.A shares. Although the losses I have suffered were high in % terms, they are reasonable with regards to what that fund was investing in.

With regard to below, personally, over the last 6 or so months, I did see Peter asking the volume and type of questions I would have expected of someone running the sort of investment funds he appears to have been running.

I find the removal of such posts, and many others, together with the removal of the blog content and lifunds.com content, unusual to say the least. These are not the behaviours of someone who wishes to remain 100% transparent in their actions.

The losses that would be realised from the selling of my shares in LIF.CX to the current bids are unacceptable without a significantly more detailed explanation. Further, I can't be expected to make a fair and reasonable ask offer, without knowing why so much was lost.

Not actually, no you didn't just announce it as a scam. You announced that you were getting out of the "biz" and that most of the investments you made were scams because you were not able to liquidate the way you wanted.

Offering now to perhaps, maybe buy some of these now worthless assets back, if you maybe somehow manage to gin together a couple of bitcoins is tantamount to admitting you are a scammer.

Your balance sheets indicated as late as yesterday that the funds controlled thousands of bitcoins when last reported. This was after your claimed sell-off. You have indicated that you were intimately involved in researching every asset, and went so far as publishing a blog detailing your studies (which has since been taken down, interestingly!) Yet you expect us to believe that you just tired of the business and somehow got hoodwinked on 97% of the value of what you claimed?

Lies.

I wonder if you ever even invested in a single share of anything, because the activity histories of the assets on the GLBSE do not match up with your claim of a massive sell off at a loss. I suspect you took a lot of investment in, sat on it and have cashed it out, while trying to cover your theft with this lame nonsense about scammers and ghost bids. I suspect you are behind the USGOLD fraud and the GLBSE fraud shares, and became the mouthpiece of outrage and shock when they had grabbed all you thought you could get.

I call for you to carry a scammer tag until you make good on the losses your dismal management of the LIF Funds generated. What you have stolen from me personally amounts to 45.5 btc when I subtract the liquidation value from the price you were pumping up until minutes before your FUD tease and announcement.

Until 45.5 btc is received at 1yh7GAp2bmGPLbjtkuZR26NCgn5QsnwcN I will continue to call out your theft and criminal activities and demand that you carry a scammer tag. I encourage all other victims of your fraud to keep you in the public's eye.

I trust that the physical address you listed in your investment offering materials will also serve for service of legal documents.

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bitfoo
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January 19, 2012, 05:53:30 PM
 #63

With regard to below, personally, over the last 6 or so months, I did see Peter asking the volume and type of questions I would have expected of someone running the sort of investment funds he appears to have been running.

I find the removal of such posts, and many others, together with the removal of the blog content and lifunds.com content, unusual to say the least. These are not the behaviours of someone who wishes to remain 100% transparent in their actions.

Peter, maybe you lost a lot of money trading. But why are you trying to cover up your tracks by deleting posts and taking down your websites? Surely you could have done this in a more graceful, transparent manner. You have always been very responsive in PMs with me before, and this new behavior does not seem fitting.

Please consider publishing a final statement of accounts for all your funds, no matter how little their balances. And please sign this statement with your PGP key (this one, for example) to prove your identity. This is the least you could do for your customers and share-holders who once trusted in you.

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January 19, 2012, 06:57:32 PM
 #64

How the hell do you lose everything and not keep some in case of major loses?  Isnt this like investing 101 ?

Or keeping 50 percent of the shares sold in BTC to buy back shares for instances exactly like this ?

Sounds like someone was Zhoutougned! and playing with other peoples money like a rookie, lost all their money and a lot of your own causing your abandonment  of bitcoin mostly because your pissed off.

You hurt the whole GLBSE community and bitcoin as a whole, and for the record, there is MILLIONS of better
ways to go public with "Im getting out of the biz"

Deleting your posts is highly suspicious and closing your LIF website intentionally screams you are "washing your hands" of the situation.


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teek
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January 19, 2012, 07:12:59 PM
 #65

How the hell do you lose everything and not keep some in case of major loses?  Isnt this like investing 101 ?

Or keeping 50 percent of the shares sold in BTC to buy back shares for instances exactly like this ?

Sounds like someone was Zhoutougned! and playing with other peoples money like a rookie, lost all their money and a lot of your own causing your abandonment  of bitcoin mostly because your pissed off.

You hurt the whole GLBSE community and bitcoin as a whole, and for the record, there is MILLIONS of better
ways to go public with "Im getting out of the biz"

Deleting your posts is highly suspicious and closing your LIF website intentionally screams you are "washing your hands" of the situation.



When the dividends of LIF.CX were dwindling during major volatility, I actually felt MORE confident, in that Peter was being conservative with the BTC and not risking too much at once.  Slow and steady wins the race type of idea..  The fact there is a dividend at all means that the original BTC in the fund is safe, we can do better next week, etc etc..  Well next week came alright.. 
 

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January 19, 2012, 07:13:42 PM
 #66

Peter, maybe you lost a lot of money trading. But why are you trying to cover up your tracks by deleting posts and taking down your websites? Surely you could have done this in a more graceful, transparent manner. You have always been very responsive in PMs with me before, and this new behavior does not seem fitting.

Please consider publishing a final statement of accounts for all your funds, no matter how little their balances. And please sign this statement with your PGP key (this one, for example) to prove your identity. This is the least you could do for your customers and share-holders who once trusted in you.

Agreed. Everything aside, I don't understand why this is happening so summarily. I think Peter could even have handed down the fund to some other party instead of liquidating so hastily, in which case more could be recovered. I have around 1000 shares of LIF.*, so this is a small scale disaster for me.

I didn't invest because I knew Peter was a brilliant investor, I did because I wanted to invest on GLBSE, and LIF would do it for me. I can understand bad trading decisions, but I don't get how a fund can fail outside given limits.

With current information, it looks as if Peter somehow decided to gamble with our money, regardless of which fund they came from, and lost. In which case it is no more in the gray area and becomes a scam/theft/whatever. I would expect someone like him to come clean immediately and try to remedy the situation in a more apt manner. I still hope that the reason he's doing what he's doing is because he's in shock and getting bad advice. Treating your shareholders like this is what you should be trying to avoid, not old posts on a forum (which I'm sure are backed up anyway).
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January 20, 2012, 06:55:40 PM
 #67

How the money was lost thats important now, so we can learn from it and others companies not to do the same mistake as yours.

if you dont want to do that also, then send me 4 BTC to 1936upyf5zoQhhgoR4BGbCntjG3jYNV1XF, for my 8 LIF.CX shares

BUMP!

I like how people ignorant of the situation are still buying shares, but IMHO the demand here is more important than cutting losses, since this situation is even affecting the proposed idea of a decentralized stock exchange. Maybe we need to devise a different way of doing business altogether. The blunder of LIF, at least to me, shows that even a WoT won't cut it. Maybe the trusted entity itself should comprise multiple identities with distributed authority. More information about these situations would help us develop such a model.

Does anyone have physical access to Peter Lambert here? Maybe we can cover the costs if anyone is willing to meet him personally.
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January 21, 2012, 09:17:39 AM
 #68

update ??

did you send 4 BTC to my address?

No funds should be sent outside of GLBSE, as there is no (easy) way to verify who owns the shares. Any buyback should be done on GLBSE and should be equally available to all holders, not just the squeaky wheels on here.

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January 21, 2012, 09:36:51 AM
 #69

Not trying to hijack this thread, but just to let users know that GLBSE 2.0 is open for testing.

http://dev.glbse.com

I'll try to get in contact with Peter Lambert and see what the story is.

Nefario.

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To get help and support for GLBSE please email support@glbse.com
brendio
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January 21, 2012, 10:58:26 AM
 #70

Not trying to hijack this thread, but just to let users know that GLBSE 2.0 is open for testing.

http://dev.glbse.com

I'll try to get in contact with Peter Lambert and see what the story is.

Nefario.

Is there another thread for this? I have some things I'd like to discuss, but don't want to get off-topic.

kronosvl
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January 21, 2012, 12:15:01 PM
 #71

Not trying to hijack this thread, but just to let users know that GLBSE 2.0 is open for testing.

http://dev.glbse.com

I'll try to get in contact with Peter Lambert and see what the story is.

Nefario.

Is there another thread for this? I have some things I'd like to discuss, but don't want to get off-topic.

https://bitcointalk.org/index.php?topic=60489.0

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phelix
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January 21, 2012, 07:36:07 PM
 #72

just noticed my LIF.B shares crashed.  Huh

could somebody point me to what happened on 2011-12-08 ?

has somebody saved any data on this fund?




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LoupGaroux
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January 21, 2012, 08:14:10 PM
 #73

Beyond just the last four pages... Peter Lambert, the person behind the LIF Funds, killed LIF.B last December by doing a bullshit after the fact announcement after he dumped all of his shares at full price, that the fund would not longer be operated. The shares for the Fund continued to be traded actively, but every one of them was based on nothing.

Short answer- you got screwed by Peter Lambert, as has every one of us who invested in his scam.

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January 21, 2012, 08:36:09 PM
 #74

just noticed my LIF.B shares crashed.  Huh

could somebody point me to what happened on 2011-12-08 ?

has somebody saved any data on this fund?


read the last 4 pages of this thread...

yeah, I read it all but there seem to be posts missing or external information:

Very sad to hear about LIF.B being cancelled especially as it was up to 0.77 xD Ohh well we all know that the risk of the company going bancrupt is a risk we take when we buy shares, but always sad that it happens. How is it going for the other shares (LIF,LIF.A, etc.)?

Beyond just the last four pages... Peter Lambert, the person behind the LIF Funds, killed LIF.B last December by doing a bullshit after the fact announcement after he dumped all of his shares at full price, that the fund would not longer be operated. The shares for the Fund continued to be traded actively, but every one of them was based on nothing.

Short answer- you got screwed by Peter Lambert, as has every one of us who invested in his scam.

this is sure what it looks like. Peter, please give us more details and numbers. It would help if you could make available all previous public LIF documents.


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sadpandatech
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January 21, 2012, 10:50:22 PM
 #75

Beyond just the last four pages... Peter Lambert, the person behind the LIF Funds, killed LIF.B last December

Yea, I lucked out there. I was researching places to invest BTC into about that time. I liked very much what I saw in the Lif.B info. If it was not for my procrastinating and then changing my mind after reading that it was being killed, I would have pumped everything I had at the time into the various Lif funds.

Edit; At the time it was enough to make me stay away from Lif, I did not get the feeling ti was a scam though. I sure hope, even if nothing can be done of the lost funds he comes out and atleast tries to explain everything....  Admitting a mistake(s) was made with other peoples money but it sure beats the alternatives.

1. Full transparency - People will proably use the opportunity to bash you, curse, yell, threaten. But, some level of faith is saved in the community as a whole and in investing in BTC ventures.
2. Cute And Run - People will still bash the crap out of you. Some to the point of possible legal or other crazy actions. And, a lot more faith is lost in the viability of investing in new companies as a result.

Please do the right thing, even if it means making a depressing situation even more difficult to deal with.

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January 22, 2012, 11:14:23 AM
 #76

I have 12 Issues of LIF.CX. Bought them at about 0.496 BTC. Does that mean i have to sell them for 0.075 now and accept 5 BTC loss?

At first i thought the whole Bitcoin Issue was a great idea and a revolutionary concept. Now that i'm trying some things out i realized that there are more people trying to steal peoples money than to actually provide some serious and useful services.  Angry

1CwizNne7EM7E1jk9qBcrZwc9huCvKiooM Smiley
Ben Walsh (beamer)
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January 22, 2012, 02:02:16 PM
 #77

With the information that Peter has come forward with thus far and his behaviours to date, I am not accepting anything less than 0.25 BTC / share.

My ask offer is up as 20 at 0.25 BTC - I expect Peter to honour it.

There is definitely a place for a stock exchange which ensures quality in the assets it lists through far greater verification/validation of asset issuers.
Unless GLBSE makes significant improvements in this area, it won't be them taking that place.

I have 12 Issues of LIF.CX. Bought them at about 0.496 BTC. Does that mean i have to sell them for 0.075 now and accept 5 BTC loss?

At first i thought the whole Bitcoin Issue was a great idea and a revolutionary concept. Now that i'm trying some things out i realized that there are more people trying to steal peoples money than to actually provide some serious and useful services.  Angry

BTC Difficulty Avg Change Google Gadget - http://bit.ly/nWZLkr
How many Bitcoins can I expect to mine ? - http://bitcoindetailedcalculator.appspot.com
BTC Donation Address : 13Wu7W7jmjQot7xnqogHYSmUmR1MzyB3YE
Ben Walsh (beamer)
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January 22, 2012, 02:21:36 PM
 #78

Wow. Just realised how many investors have ask offers up for less than 0.25 BTC. You guys are incredibly forgiving.

With the information that Peter has come forward with thus far and his behaviours to date, I am not accepting anything less than 0.25 BTC / share.

My ask offer is up as 20 at 0.25 BTC - I expect Peter to honour it.

There is definitely a place for a stock exchange which ensures quality in the assets it lists through far greater verification/validation of asset issuers.
Unless GLBSE makes significant improvements in this area, it won't be them taking that place.

I have 12 Issues of LIF.CX. Bought them at about 0.496 BTC. Does that mean i have to sell them for 0.075 now and accept 5 BTC loss?

At first i thought the whole Bitcoin Issue was a great idea and a revolutionary concept. Now that i'm trying some things out i realized that there are more people trying to steal peoples money than to actually provide some serious and useful services.  Angry

BTC Difficulty Avg Change Google Gadget - http://bit.ly/nWZLkr
How many Bitcoins can I expect to mine ? - http://bitcoindetailedcalculator.appspot.com
BTC Donation Address : 13Wu7W7jmjQot7xnqogHYSmUmR1MzyB3YE
teek
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January 22, 2012, 04:58:15 PM
 #79

With the information that Peter has come forward with thus far and his behaviours to date, I am not accepting anything less than 0.25 BTC / share.

My ask offer is up as 20 at 0.25 BTC - I expect Peter to honour it.


I have 187 LIF.CX,  49 LIF, 246 LIF.A, Yes, I got burned, I need 100 BTC back out of this Peter, my orders are up or you can send here:  1NHoQh5z9xULBFpF8N23Mu3gxZv5ZxPjSo

I bought a bunch of this stuff too during the past couple weeks before the "announcment" as I thought LIF was in a temporary lull and would bounce back, due to Peter's good reputation, that he had a baby and was probably busy, the fact that it was Christmas time and he probably wanted to be with his family, the fact that he closed LIF.B to "focus" on his other funds.  In other words, the benefit of the doubt. 


Ben Walsh (beamer)
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January 22, 2012, 05:02:54 PM
 #80

I don't think there should be any further dealing outside of GLBSE.

Actions have been significantly lacking in transparency as it is. The independent records of share transactions provided by GLBSE are very necessary going forward.

With the information that Peter has come forward with thus far and his behaviours to date, I am not accepting anything less than 0.25 BTC / share.

My ask offer is up as 20 at 0.25 BTC - I expect Peter to honour it.


I have 187 LIF.CX,  49 LIF, 246 LIF.A, Yes, I got burned, I need 100 BTC back out of this Peter, my orders are up or you can send here:  1NHoQh5z9xULBFpF8N23Mu3gxZv5ZxPjSo

I bought a bunch of this stuff too during the past couple weeks before the "announcment" as I thought LIF was in a temporary lull and would bounce back, due to Peter's good reputation, that he had a baby and was probably busy, the fact that it was Christmas time and he probably wanted to be with his family, the fact that he closed LIF.B to "focus" on his other funds.  In other words, the benefit of the doubt. 



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How many Bitcoins can I expect to mine ? - http://bitcoindetailedcalculator.appspot.com
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