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sporket
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April 11, 2014, 05:33:37 PM |
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I think that wasn't planned, things definitely ended badly/prematurely.
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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Stelios
Member
 Offline
Activity: 112
Merit: 10
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April 11, 2014, 06:16:34 PM |
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I was one of the very early supporters of Danny and Neo Bee.
Even though I was very angry at Danny when I learned what he did (by talking to some of his employees), and I might have even written a nasty post in my anger during the first couple of days (I cannot recall and I do not even want to go back and check) I decided to remain silent for several days in order to calm down, and think rationally about the Neo Bee events so as to come to some conclusion.
I do not believe that the whole thing started as a scam, fraud etc.
I believe Danny was honest and invested a lot of money in Cyprus. He would not have invested so much money and, according to reliable sources, even pay 35K for the tax of his car a couple of days before he disappeared + prepay a full year's rents for his Nicosia house in which he moved in in 1-2 months ago.
Something else must have happened that we do not know such as:
1. He did lose coins in Mt.Cox and Bitfunder and kept it a secret.
2. For whatever reason he got involved with the underworld and when they realized that he was a holder of a lot of bitcoins he received threats.
3. He decided overnight that he'll cut his losses/investments.
4. Mismanagement of funds due to inexperience, sudden loss of coins for whatever reason, panicking and running away.
I am 100% sure that he initially was very honest and didn't have the intention to run away with people's money and coins.
Since the last press reports on April 3rd, the Neo Bee issue has never been raised again by any one in Cyprus and people have already forgotten it. It has not been mentioned a single time any where in the media, press or wherever. The reason for this is because no one from the public has lost any money. It was very wise and very responsible from Danny and/or his managers not to open the branch for business and not do any transactions with the public until everything was 100% safe. I credit them for this.
The only people that have been left with a pain, and some of them lost a lot of money, are his unpaid employees and creditors including PVS.
The honest thing for him to do is to pay his outstanding debts to his employees and his creditors and I am sure that he and his family, and we, can put this behind us and carry on with our lives.
Danny if you are reading me I am sure you will understand and appreciate what I am saying. I apologise for not responding to your messages but I saw them AFTER you disappeared. I was never a sophisticated user of the forum and didn't notice them.
As for his shareholders, including myself who bought some shares at Havelock for a couple of thousand $s, well guys I am very sorry about our losses but at the end of the day we invested in a BTC start-up. 95% of start ups in such a new and risky area fail. Yes it is painful, we lost money, but we must try to forget it and carry on with our lives as well. If we all stay in bitcoin, a bright future with handsome dividends awaits all of us.
All the best.
Skoutz, since you currently live in Cyprus (please correct me if I am wrong ), I would like to ask you; how has this affected the view of BTC in the public there (average Cypriot)? Do they see BTC as a scum infested useless form of money or do they realize that this is nothing more one failed business and still see the merits of this new technology? I am asking because I am originated from Cyprus (therefore I am really interested in the place) and I think that this was/is an opportunity to lead the way in something good (with the uni involvement, the financial services background and all). So I guess the final question is; is BTC a joke in Cyprus now or not? BR Stelios p.s. I fully agree with the views you posted above, I also was one of the very early supporters of Danny and Neo Bee and I do not think this was a scum from the beginning (and I did not loose so much to be in denial ;p). What annoys me the most though, is that Danny disappeared (Dikeonontas olous aftous pou emeis legame trols) without giving any information on what happened!!! If you (through personal contact) have any additional information I would like to ask you to share it with the group. I think everybody here (initial supporter or not) has the right to find out what happen + It would make a really interesting thread heh. |
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Stelios
Member
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Activity: 112
Merit: 10
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April 11, 2014, 07:41:30 PM |
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Thanks for the info thekekk. I hope skroutz also has some additional info! SK p.s. so in seems that this also played over TV @ mega |
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PetePete
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April 11, 2014, 09:42:50 PM |
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sporket
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April 11, 2014, 10:14:00 PM |
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Well done, Luttinen! Carry on with your email campaign.  |
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Luttinen
Newbie
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Activity: 14
Merit: 0
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April 11, 2014, 10:27:11 PM |
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@sporket
What are the latest on your US extradition? Did you post any updates on your blog?
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sporket
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April 11, 2014, 11:18:46 PM |
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I admire your "hapless supporter" approach to trolling, but that over-the-top email gag totally blew your cover. I mean, how perfect was that? P.S: Are you harboring that criminal in ur hovel? That's a crime, you know  |
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JorgeStolfi
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April 12, 2014, 03:07:36 AM |
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Dear @luttinen, why are you still trying to defend the blatantly indefensible?
Is Mr. Brewster any relation or close friend of yours?
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Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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bite111
Newbie
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Activity: 22
Merit: 0
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April 12, 2014, 09:04:29 AM
Last edit: April 19, 2014, 09:39:15 AM by bite111 |
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Brewster seems to believe that he is playing a game by running away and hiding.
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bite111
Newbie
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Activity: 22
Merit: 0
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April 12, 2014, 09:19:06 AM
Last edit: April 19, 2014, 09:38:31 AM by bite111 |
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If what you are saying is right, then the guy managed to tranform stupidity into a criminal offence
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JorgeStolfi
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April 12, 2014, 03:11:47 PM |
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If what you are saying is right, then the guy managed to tranform stupidity into a criminal offence!!!
I do not know more about this case than any random reader of this thread. However, the transition from incompetence to criminality seems to be common in similar situations. When debts pile up and plans fail, a manager often chooses to risk some irregular workarounds (like mislabeling losses as long-term investments, using funds that he should not use, etc.) rather than admitting his incompetence (and perhaps losing his job). When those workarounds too fail, he would be forced into even bigger violations of the rules to "fix" them. At some point he recognizes that he has become a criminal, and then he will start planning and acting like one. The CEOs of Enron, Worldcom, and even Madoff seem to have slipped down this path. Another way a manager may slip into criminality is by paying himself and/or friends an exaggerated salary at a time when the company has more debts than capital. That may seem a negligible risk at the time, but if the company goes bankrupt such generosity will be noted and it may get him charged with fraudulent management. About those clients who bought bitcoins from Danny that were never delivered, for example: it may be (just an hypothesis) that Danny used that money to pay urgent debts, hoping that he would soon get some revenue somehow that would allow him to buy the bitcoins and honor the deal. Or perhaps the deals were struck in September, he did not buy the coins immediately, and then found he could not do it after the price increased 5--10 times. |
Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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Skoutz
Member
Offline
Activity: 109
Merit: 10
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April 12, 2014, 05:05:42 PM |
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I was one of the very early supporters of Danny and Neo Bee.
Even though I was very angry at Danny when I learned what he did (by talking to some of his employees), and I might have even written a nasty post in my anger during the first couple of days (I cannot recall and I do not even want to go back and check) I decided to remain silent for several days in order to calm down, and think rationally about the Neo Bee events so as to come to some conclusion.
I do not believe that the whole thing started as a scam, fraud etc.
I believe Danny was honest and invested a lot of money in Cyprus. He would not have invested so much money and, according to reliable sources, even pay 35K for the tax of his car a couple of days before he disappeared + prepay a full year's rents for his Nicosia house in which he moved in in 1-2 months ago.
Something else must have happened that we do not know such as:
1. He did lose coins in Mt.Cox and Bitfunder and kept it a secret.
2. For whatever reason he got involved with the underworld and when they realized that he was a holder of a lot of bitcoins he received threats.
3. He decided overnight that he'll cut his losses/investments.
4. Mismanagement of funds due to inexperience, sudden loss of coins for whatever reason, panicking and running away.
I am 100% sure that he initially was very honest and didn't have the intention to run away with people's money and coins.
Since the last press reports on April 3rd, the Neo Bee issue has never been raised again by any one in Cyprus and people have already forgotten it. It has not been mentioned a single time any where in the media, press or wherever. The reason for this is because no one from the public has lost any money. It was very wise and very responsible from Danny and/or his managers not to open the branch for business and not do any transactions with the public until everything was 100% safe. I credit them for this.
The only people that have been left with a pain, and some of them lost a lot of money, are his unpaid employees and creditors including PVS.
The honest thing for him to do is to pay his outstanding debts to his employees and his creditors and I am sure that he and his family, and we, can put this behind us and carry on with our lives.
Danny if you are reading me I am sure you will understand and appreciate what I am saying. I apologise for not responding to your messages but I saw them AFTER you disappeared. I was never a sophisticated user of the forum and didn't notice them.
As for his shareholders, including myself who bought some shares at Havelock for a couple of thousand $s, well guys I am very sorry about our losses but at the end of the day we invested in a BTC start-up. 95% of start ups in such a new and risky area fail. Yes it is painful, we lost money, but we must try to forget it and carry on with our lives as well. If we all stay in bitcoin, a bright future with handsome dividends awaits all of us.
All the best.
Skoutz, since you currently live in Cyprus (please correct me if I am wrong ), I would like to ask you; how has this affected the view of BTC in the public there (average Cypriot)? Do they see BTC as a scum infested useless form of money or do they realize that this is nothing more one failed business and still see the merits of this new technology? I am asking because I am originated from Cyprus (therefore I am really interested in the place) and I think that this was/is an opportunity to lead the way in something good (with the uni involvement, the financial services background and all). So I guess the final question is; is BTC a joke in Cyprus now or not? BR Stelios p.s. I fully agree with the views you posted above, I also was one of the very early supporters of Danny and Neo Bee and I do not think this was a scum from the beginning (and I did not loose so much to be in denial ;p). What annoys me the most though, is that Danny disappeared (Dikeonontas olous aftous pou emeis legame trols) without giving any information on what happened!!! If you (through personal contact) have any additional information I would like to ask you to share it with the group. I think everybody here (initial supporter or not) has the right to find out what happen + It would make a really interesting thread heh. Hi Stelios The Neo Bee saga has made some damage to BTC and the ignorant people confuse BTC with Neo Bee. However, in view of the good work done by the University of Nicosia, I believe the BTC name will be restored in the near future. There are various rumors as to the kind of criminal offences charged by the police but it is more gossip than actual facts. I guess in the next couple of days more information might be brought to light. Apart from the news last night about the arrest warrant people do not actually talk about it, it is more or less forgotten because the "public" has not been involved and the masses did not lose any money or BTC. I still believe that this was not a scam from the beginning but the way Danny handled the whole issue it developed into criminal. |
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Skoutz
Member
Offline
Activity: 109
Merit: 10
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April 12, 2014, 05:06:38 PM |
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If what you are saying is right, then the guy managed to tranform stupidity into a criminal offence!!!
I do not know more about this case than any random reader of this thread. However, the transition from incompetence to criminality seems to be common in similar situations. When debts pile up and plans fail, a manager often chooses to risk some irregular workarounds (like mislabeling losses as long-term investments, using funds that he should not use, etc.) rather than admitting his incompetence (and perhaps losing his job). When those workarounds too fail, he would be forced into even bigger violations of the rules to "fix" them. At some point he recognizes that he has become a criminal, and then he will start planning and acting like one. The CEOs of Enron, Worldcom, and even Madoff seem to have slipped down this path. Another way a manager may slip into criminality is by paying himself and/or friends an exaggerated salary at a time when the company has more debts than capital. That may seem a negligible risk at the time, but if the company goes bankrupt such generosity will be noted and it may get him charged with fraudulent management. About those clients who bought bitcoins from Danny that were never delivered, for example: it may be (just an hypothesis) that Danny used that money to pay urgent debts, hoping that he would soon get some revenue somehow that would allow him to buy the bitcoins and honor the deal. Or perhaps the deals were struck in September, he did not buy the coins immediately, and then found he could not do it after the price increased 5--10 times. Agree. |
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nonlinearboy
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April 12, 2014, 05:28:46 PM |
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If what you are saying is right, then the guy managed to tranform stupidity into a criminal offence!!!
I do not know more about this case than any random reader of this thread. However, the transition from incompetence to criminality seems to be common in similar situations. When debts pile up and plans fail, a manager often chooses to risk some irregular workarounds (like mislabeling losses as long-term investments, using funds that he should not use, etc.) rather than admitting his incompetence (and perhaps losing his job). When those workarounds too fail, he would be forced into even bigger violations of the rules to "fix" them. At some point he recognizes that he has become a criminal, and then he will start planning and acting like one. The CEOs of Enron, Worldcom, and even Madoff seem to have slipped down this path. Another way a manager may slip into criminality is by paying himself and/or friends an exaggerated salary at a time when the company has more debts than capital. That may seem a negligible risk at the time, but if the company goes bankrupt such generosity will be noted and it may get him charged with fraudulent management. About those clients who bought bitcoins from Danny that were never delivered, for example: it may be (just an hypothesis) that Danny used that money to pay urgent debts, hoping that he would soon get some revenue somehow that would allow him to buy the bitcoins and honor the deal. Or perhaps the deals were struck in September, he did not buy the coins immediately, and then found he could not do it after the price increased 5--10 times. damn the scamers! |
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mmeijeri
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April 12, 2014, 05:45:19 PM |
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I do not know more about this case than any random reader of this thread. However, the transition from incompetence to criminality seems to be common in similar situations.
I agree this is a plausible possibility in this case. |
ROI is not a verb, the term you're looking for is 'to break even'.
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Stelios
Member
Offline
Activity: 112
Merit: 10
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April 13, 2014, 01:04:11 AM |
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I was one of the very early supporters of Danny and Neo Bee.
Even though I was very angry at Danny when I learned what he did (by talking to some of his employees), and I might have even written a nasty post in my anger during the first couple of days (I cannot recall and I do not even want to go back and check) I decided to remain silent for several days in order to calm down, and think rationally about the Neo Bee events so as to come to some conclusion.
I do not believe that the whole thing started as a scam, fraud etc.
I believe Danny was honest and invested a lot of money in Cyprus. He would not have invested so much money and, according to reliable sources, even pay 35K for the tax of his car a couple of days before he disappeared + prepay a full year's rents for his Nicosia house in which he moved in in 1-2 months ago.
Something else must have happened that we do not know such as:
1. He did lose coins in Mt.Cox and Bitfunder and kept it a secret.
2. For whatever reason he got involved with the underworld and when they realized that he was a holder of a lot of bitcoins he received threats.
3. He decided overnight that he'll cut his losses/investments.
4. Mismanagement of funds due to inexperience, sudden loss of coins for whatever reason, panicking and running away.
I am 100% sure that he initially was very honest and didn't have the intention to run away with people's money and coins.
Since the last press reports on April 3rd, the Neo Bee issue has never been raised again by any one in Cyprus and people have already forgotten it. It has not been mentioned a single time any where in the media, press or wherever. The reason for this is because no one from the public has lost any money. It was very wise and very responsible from Danny and/or his managers not to open the branch for business and not do any transactions with the public until everything was 100% safe. I credit them for this.
The only people that have been left with a pain, and some of them lost a lot of money, are his unpaid employees and creditors including PVS.
The honest thing for him to do is to pay his outstanding debts to his employees and his creditors and I am sure that he and his family, and we, can put this behind us and carry on with our lives.
Danny if you are reading me I am sure you will understand and appreciate what I am saying. I apologise for not responding to your messages but I saw them AFTER you disappeared. I was never a sophisticated user of the forum and didn't notice them.
As for his shareholders, including myself who bought some shares at Havelock for a couple of thousand $s, well guys I am very sorry about our losses but at the end of the day we invested in a BTC start-up. 95% of start ups in such a new and risky area fail. Yes it is painful, we lost money, but we must try to forget it and carry on with our lives as well. If we all stay in bitcoin, a bright future with handsome dividends awaits all of us.
All the best.
Skoutz, since you currently live in Cyprus (please correct me if I am wrong ), I would like to ask you; how has this affected the view of BTC in the public there (average Cypriot)? Do they see BTC as a scum infested useless form of money or do they realize that this is nothing more one failed business and still see the merits of this new technology? I am asking because I am originated from Cyprus (therefore I am really interested in the place) and I think that this was/is an opportunity to lead the way in something good (with the uni involvement, the financial services background and all). So I guess the final question is; is BTC a joke in Cyprus now or not? BR Stelios p.s. I fully agree with the views you posted above, I also was one of the very early supporters of Danny and Neo Bee and I do not think this was a scum from the beginning (and I did not loose so much to be in denial ;p). What annoys me the most though, is that Danny disappeared (Dikeonontas olous aftous pou emeis legame trols) without giving any information on what happened!!! If you (through personal contact) have any additional information I would like to ask you to share it with the group. I think everybody here (initial supporter or not) has the right to find out what happen + It would make a really interesting thread heh. Hi Stelios The Neo Bee saga has made some damage to BTC and the ignorant people confuse BTC with Neo Bee. However, in view of the good work done by the University of Nicosia, I believe the BTC name will be restored in the near future. There are various rumors as to the kind of criminal offences charged by the police but it is more gossip than actual facts. I guess in the next couple of days more information might be brought to light. Apart from the news last night about the arrest warrant people do not actually talk about it, it is more or less forgotten because the "public" has not been involved and the masses did not lose any money or BTC. I still believe that this was not a scam from the beginning but the way Danny handled the whole issue it developed into criminal. Thanks for the info skoutz, Please let us know if anything new regardibg btc happens in Cyprus (Neo related or not ). Cheers Stelios |
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nonlinearboy
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April 13, 2014, 08:30:12 AM |
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someone should take actions towards this situation and help us to resolve the problem,
really appreciate for that.
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MonkeyBear68
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April 13, 2014, 10:13:59 AM |
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Skoutz,
There is an old saying, The road to hell is paved with good intentions.
It does not matter one iota what Danny's initial intentions were. He abandoned this project like a yellow bellied coward. I see pictures of him buying fancy cars. It sounds more like he cut and run when he got caught stealing the money (BTC). It will be interesting to see how much BTC is left over if any. He in no way explained himself as to what happened. He lied about contacting the police regarding threats. If he got involved with criminals and they threatened him that simply shows he lacks moral composition.
Let me spell it out for you:
WITH DANNY BREWSTER AS CEO THIS INVESTMENT NEVER HAD A CHANCE!!
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mmeijeri
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April 13, 2014, 10:25:28 AM |
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Easy to say that in hindsight.
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ROI is not a verb, the term you're looking for is 'to break even'.
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