Neo & Bee talk (spam free thread)

[freedomno1]

So this asset is still dead
For something that was supposed to have a new leader its been buried lol.
Oh well if someone finds him he does have a warrant still
http://www.coindesk.com/cyprus-issues-arrest-warrant-neo-bee-ceo-danny-brewster/

[Justin00]

^^^ Yeah I think the folks in here figured that out... on April 12th.. the day after that article was released.

Just saying is all..

[freedomno1]

^^^ Yeah I think the folks in here figured that out... on April 12th.. the day after that article was released.

Just saying is all..

True just for the people who forget after looks at date 3 Months lol
Wheres Brewster --> Bitcoins Wheres Waldo
Wheres Karpeles --> Bitcoins Wheres Bin Laden  
* Yes Karpeles is french like Waldo but it sounded better ^^

[JorgeStolfi]

actively looking =  People assigned to the case and doing investigative work.
Like the way they do it on TV. 

I doubt that any detectives are devoting significant time to the case... The only formal complaints I have heard of were by those two people who gave euros to Danny and did not get their coins, and the total  amount was onlt 35'000 euros -- a small scam even by Cyprus's standars, I would think.

He also owed 1 month of salary to his employees, and is said to have left a million dollars in debts for advertising, offices, furniture
http://www.dailymail.co.uk/news/article-2603742/British-boss-Bitcoin-virtual-currency-firm-wanted-Cyprus-suspicion-fraud.html
I woud expect these creditors  to file for bankruptcy, a civil process but which maybe would produce further charges (of criminal mismanagement, embezzling, whatever) in due time.

Another group of victims are his investors, who are said to have given him about 10'000 BTC by September 2013, which would be worth ~4.5 million euros today.  There has been no accounting of whether and how those coins were spent.  However, since the investments were made in bitcoins through unregulated exchanges, and were not real equity but "limited-time dividend-only shares", the investors probably will not be able to press charges on any jurisdiction.

[Bit_Happy]

...
Another group of victims are his investors, who are said to have given him about 10'000 BTC by September 2013, which would be worth ~4.5 million euros today.  There has been no accounting of whether and how those coins were spent.  However, since the investments were made in bitcoins through unregulated exchanges, and were not real equity but "limited-time dividend-only shares", the investors probably will not be able to press charges on any jurisdiction.

Yes the huge pile of riches was living in a legal grey area.
(Excessively) Regulated exchanges have major drawbacks, but at least investors have some amount of protection. Ideally, I strongly prefer free markets, but the early days (when there is a lack of trusted sites) can be very dangerous.

[JorgeStolfi]

(Excessively) Regulated exchanges have major drawbacks, but at least investors have some amount of protection. Ideally, I strongly prefer free markets, but the early days (when there is a lack of trusted sites) can be very dangerous.

Hm, "free market"  does not mean "unregulated market".  A free market is one without significant obstacles  to the entry of new suppliers, where suppliers can freely offer varieties of their products and fix their prices, and where consumers can freely choose among the available suppliers.

Regulations that protect customers are no problem, as long as they apply equally to all suppliers and do not effectively prevent the entry of new suppliers.  It is still OK if the regulations prevent the entry of certain suppliers, e.g. for being too small, foreign, unqualified, whatever  The important point is that if the price of the product were to rise much above its cost, or the quality were not not as good as it could be, other entrepreneurs would promptly enter the market and offer the product at lower price and/or better quality.  As long as this "liquidity of suppliers" exists, the market is free, and will eventually reach a "fair price" -- one that provides to each supplier about the same net revenue that he would get if he switched to some other activity.

In fact, strict regulation is essential to ensure that markets remain free.  In an unregulated market, the suppliers that first dominate the market will inevitably try to use their positions to keep competition away, by any means they can.  These include dumping to force smaller competitiors into bankruptcy, bribing the government to issue exclusive operating licenses, prohibiting retailers to offer products of their competitors, and many dirtier tricks.  The market will then become a monopoly, or an oligopoly run by a cartel -- and prices will be set so as to maximize the suppliers'  revenue, rather than at a fair value. 

Regulations that protect customers also increase consumer confidence, and therefore are benefical for all suppliers in the long run.   (We can see that in bitcoinland: people are being driven away from bitcoin by the fear of losing money in ventures and exchanges that they cannot trust.)

For this reason, many countries have things like anti-monopoly laws, anti-dumping laws, and consumer protection agencies that try to limit the market share of individual suppliers in order to keep the market free (although they rarely succeed in that goal), prevent scams, and impose quality standards.   Honest suppliers may grumble at such regulations, but know that they are good for them too.  Deregulation is mostly the demand of the myopic, opportunistic, or fraudulent supplier, who aims to make quick money in the short term, even at the cost of damaging the market in the long term.

[Bit_Happy]

Hm, "free market"  does not mean "unregulated market"...

Truly free markets can use certifications/trade associations and other methods to regulate quality, security etc. Gov't interference/ Big Brother/ Nanny State is usually not needed and does much more harm than good in most cases.

[JorgeStolfi]

Hm, "free market"  does not mean "unregulated market"...

Truly free markets can use certifications/trade associations and other methods to regulate quality, security etc.

Trade associations hate the idea of "free market".  They are created and financed by the existing suppliers, and threfore defend their interests -- which include keeping competition away and the customers captive.  When they set quality standards, it is only for the purpose of labeling competitor products as unacceptable and hence prohibiting them.

The concept of copyright, for example, was invented by printers' guilds in various European countries, between 1620 and 1720, to ensure that the market of each book was the monopoly of a single printer -- using the police to crush attempts by other printers, domestic or foreign, to enter that market.

[Lohoris]

Yes the huge pile of riches was living in a legal grey area.
(Excessively) Regulated exchanges have major drawbacks, but at least investors have some amount of protection.

Yeah, like Mt. Gox...

[NanoAkron]

Any updates?

[kingcrimson]

Danny is on reddit on his main account and alt account, mocking the people he scammed and making fun of the man who committed suicide over his actions. It is pretty cringeworthy and shameful. 

[JorgeStolfi]

Danny is on reddit on his main account and alt account, mocking the people he scammed and making fun of the man who committed suicide over his actions. It is pretty cringeworthy and shameful. 

Recently? Could you post the link?

[Stelios]

Danny is on reddit on his main account and alt account, mocking the people he scammed and making fun of the man who committed suicide over his actions. It is pretty cringeworthy and shameful. 

Recently? Could you post the link?

I think King is talking about this post http://www.reddit.com/r/Bitcoin/comments/2dbn57/whats_mark_karpeles_doing_today_whats_danny/. Not sure though

[kingcrimson]

Danny is on reddit on his main account and alt account, mocking the people he scammed and making fun of the man who committed suicide over his actions. It is pretty cringeworthy and shameful. 

Recently? Could you post the link?

I think King is talking about this post http://www.reddit.com/r/Bitcoin/comments/2dbn57/whats_mark_karpeles_doing_today_whats_danny/. Not sure though

Yes that is it, him and his 'friend' are apparently proud about their scam.

[Stelios]

Danny is on reddit on his main account and alt account, mocking the people he scammed and making fun of the man who committed suicide over his actions. It is pretty cringeworthy and shameful. 

Recently? Could you post the link?

I think King is talking about this post http://www.reddit.com/r/Bitcoin/comments/2dbn57/whats_mark_karpeles_doing_today_whats_danny/. Not sure though

Yes that is it, him and his 'friend' are apparently proud about their scam.

I was hoping for a btc hotspot in Cyprus (with the Uni and all) but ...

[NanoAkron]

Any chance someone could find out where he lives for research purposes?

[JorgeStolfi]

Danny is on reddit on his main account and alt account, mocking the people he scammed and making fun of the man who committed suicide over his actions. It is pretty cringeworthy and shameful. 

Recently? Could you post the link?

I think King is talking about this post http://www.reddit.com/r/Bitcoin/comments/2dbn57/whats_mark_karpeles_doing_today_whats_danny/. Not sure though

Thanks.  It may be a troll using his account, of course; although, to me, it does read like his style...

[deathmul]

Hmmm, he bought new Ferrari.... from my money! !@#$$%

[JorgeStolfi]

Hmmm, he bought new Ferrari.... from my money! !@#$$%

Someone claimed that the photo of that Ferrari was cropped out from an advertisement. Better check.

[michaelGedi]

looking at his facebook (on suprisingly minimal privacy settings) and looking at his self righteous posting on reddit - it's just hillarious that no one noticed what a lame duck this guy was earlier.

cyprus idealism fooled everyone, what a massive joke. The only thing left to do is smile, or kill the cunt. But why kill him when you only have yourself to blame?

this neo bee attempt at being a 2 bit ceo will probably be Danny's greatest achievement, it's all down hill from here. He's never going to get near a business ever again in his life, and even if he does, well good luck to anyone involved because he's proven beyond a shadow of a doubt that he's lacking self awareness and is totally irresponsible... I'd be suprised if he can provide for his wife and daughter in the long run, let alone tie his own shoelaces.

Personally I'll give him a pat on the back and a sympathetic look, because while those who invested may have actually learned a lesson, he clearly has not