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Author Topic: Diablo Mining Company  (Read 87282 times)
SebastianJu
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September 11, 2012, 06:32:41 PM
 #461

Looks like glbse has some kind of SCE... Smiley

I think its an interesting development. I bought diablos shares and i trusted him because of his contributions of free software. But i learned that means nothing for the financial capability. And he made errors after errors. The worst thing is that he sold shares for less than the ipo even though he was told that this is a clear rip off of the bondholders. Thats not correct then anymore and i can understand this step now.

Im lucky i got out without losing much. So now i took a look at the value of this because he owned 2080ASICMINER and my thought was that i maybe can buy cheap asicminer by buying dmc... but unfortunately the whole asset of dmc is even worth less than the actual shareprice. So here... you can save the time to calculate for yourself:

Quote
40 BTC-MINING * 0.928 = 37.12
951 BTCMC * 0.570045 = 542.112795
5113 OBSI.ABMO * 0.05 = 255.65
2080 ASICMINER * 0.1 = 208

1042.882795 BTC Value of whole asset
/ 20909 shares circulating

= 0.04987722 BTC per share

So i think the actual shareprice of dmc is nearly showing the actual value of a share.

Interested to see how this moves on.

 

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September 11, 2012, 06:33:37 PM
 #462

If you think he deserves a scammer tag, make a thread in Scammer Accusations, lay out all the relevant information neatly and describe how he defrauded people assuming the readers know nothing about this. Would be good to show that he did it knowingly or that he was told/warned of the consequences. Whether he's a mod or not doesn't matter.

I haven't been keeping up with this thread so I don't have an opinion yet.

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September 11, 2012, 06:39:46 PM
 #463

Shareholders might also want to take a look at this: https://glbse.com/vote/view/104

That's the motion to discontinue paying dividends. Pay special attention to the date of the vote, the date when 15000 additional shares suddenly started to exist and the amount of votes for each option. Draw your own conclusions.
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September 11, 2012, 06:45:04 PM
 #464

By the way... i wonder what with all these pirate pass through bonds should happen. I mean its pretty clear now that no dividend will flow and the securities are dead. I wonder if it makes sense to hold them in the list or if they will only work as newbietraps.

Regarding the number of shares of dmc that are floating around... here you can see the number: https://glbse.com/api/quantity_trading/DMC

 

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EskimoBob
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September 11, 2012, 06:48:31 PM
 #465

BTW, I personally have not filed any complaints with nefario nor GLBSE.
I guess someone else realized that this circus has to be stopped.

Who ever you are. Thank you.

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
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September 11, 2012, 06:53:15 PM
 #466

I don't think he deserves the scammer tag, he's likely just incompetent.

This has actually been coming for several weeks, as in shareholders have been complaining for weeks, and I had hoped that he would turn things around.

Here is what Diablo has said to me on IRC regarding the physical assets of DMC
Quote
(18:44:04) nefario: Hi
(18:44:10) Diablo-D3: hi
(18:44:35) nefario: Just to let you know you're having DMC removed from you for gross incompetence
(18:45:01) nefario: The process being
(18:45:06) nefario: I'll run a motion
(18:45:19) nefario: and you're shareholders will decide whether to allow you to continue or not
(18:45:27) nefario: in the mean time your account has been frozen
(18:45:54) nefario: Once the motion is finished, if they're happy with you, everything gets unlocked and you can continue as before
(18:46:12) nefario: otherwise I'll remove DMC from your GLBSE and find someone competent to either run it
(18:46:13) nefario: or
(18:46:16) nefario: liquidate it
(18:46:32) nefario: and your own personal GLBSE account will be unlocked
(19:31:02) nefario: Diablo, are you actually doing any mining yourself? Or do you have any physical assets that belong to DMC?
(19:31:36) Diablo-D3: yes, and you cant touch them.
(19:31:50) nefario: I'm not going to try
(19:31:55) nefario: shareholders will
(19:32:08) nefario: It's up to them
(19:32:10) Diablo-D3: I am writing a reply on the DMC thread.
(19:32:26) nefario: Please do
(19:32:31) nefario: the vote will be next week
(19:32:36) nefario: you need to make your case
(19:32:48) nefario: if you can convince DMC shareholders to keep you
(19:33:48) Diablo-D3: I think you have misunderstood
(19:34:00) Diablo-D3: DMC will continue operating no matter what you do.
(19:34:09) nefario: fair enough
(19:34:26) Diablo-D3: I don't know why you are attacking me or my shareholders, but no one is particularly pleased with your actions
(19:34:34) nefario: Im not
(19:34:40) nefario: I've been pushed to do this
(19:34:50) nefario: and the pushing started weeks ago
(19:34:57) Diablo-D3: You're going to be pushed to shut down if you continue this.
(19:35:07) nefario: Lol
(19:35:15) Diablo-D3: You have a chance to apologize to the community, I suggest you take it.
(19:35:26) Diablo-D3: I am also going to recommend to theymos that he add a scammer tag to all of your forum accounts

I would only recommend a scammer tag if he failed to return DMC assets which he holds (physical ones) to DMC and it's shareholders.

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To get help and support for GLBSE please email support@glbse.com
SebastianJu
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September 11, 2012, 07:01:49 PM
 #467

So he has other accounts at glbse where he holds the assets? I think its possible that you, nefario, cant find these accounts. Regarding the motion... i see the possibility that diablo itself is holding enough bonds so that he can change the motion to what he want. I mean when he have different other accounts at glbse he still can vote.

Whatever...

 

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Nefario
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September 11, 2012, 07:04:58 PM
 #468

This was PM'd to me.

Quote
Isn't there a chance he can just decide any motion by himself on account of these thousands of shares that are most likely his? The motion on discontinuation of payment of dividends certainly looks like it was done that way.

Diablo's personal account is frozen, so he himself won't be able to vote using those shares, however you have a good point, one of the reasons there is going to be a week before the vote is to a) allow people to discuss it fully and for diablo to make his case b) allow time for me to investigate.

Suggestions on how to handle this issue are welcome.

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September 11, 2012, 07:11:15 PM
 #469

wow!
I am currently holding 600 shares of DMC
I'd like to see this security continue running with a new sound strategy.
IMHO this will require a new CEO.
This may be an unique opportunity for a more democratic security.

I'd be happy to assist in any way possible.

If I'm correct the biggest shareholder will likely be nyancat/usagi, not sure about his position.
The dividend stop seemed to be a premade deal between DiabloD3 and usagi.

But are there any physical assets?
There should be a number of BTC from received dividends.
Last calculation seemed off!
Probably he just did not published it properly.

Kind regards
MoinCoin
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September 11, 2012, 07:15:55 PM
 #470

I think its hard to find other accounts of him as long as he did precautions while accessing different accounts. Cookies, ip and so on. I dont have an idea how this can be handled. Maybe someone other has a flash of inspiration.

@ianbakewell

A list of swaps probably wont help. Swaps can be legitimate buys. And on the other hand he could have sold shares, then withdrawn btc and load it into a fresh account at glbse. Sending money from another address. Then buy the shares. No trace behind when done properly. So its hard.

 

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September 11, 2012, 07:16:57 PM
 #471

Quote
(19:31:02) nefario: Diablo, are you actually doing any mining yourself? Or do you have any physical assets that belong to DMC?
(19:31:36) Diablo-D3: yes, and you cant touch them.

Since when?
Can you point me to monthly statement that lists those assets?

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September 11, 2012, 07:18:22 PM
 #472

Nefario has just announced that he has misappropriated almost 1600 BTC in assets from Diablo Mining Company claiming that shareholders have said I have violated my contract with all of you. The good news is, he cannot remove me as founder of Diablo Mining Company, nor misappropriate assets or sources of income not held at GLBSE.

I officially request Nefario unlock the Diablo Mining Company account and also return any misappropriated assets. Nefario does not represent Diablo Mining company nor any shareholders of Diablo Mining Company. Diablo Mining Company has hired GLBSE to act as an exchange and broker for Diablo Mining Company shareholders.

Diablo Mining Company currently holds on GLBSE:
54 BTC-MINING, currently valued 53.78 BTC
951 BTCMC, currently valued 561.08 BTC
9290 OBSI.ABMO, currently valued 929.00 BTC

From this 1543.86 BTC in assets. BTCMC pays approximately 15 BTC a month, ABMO pays a little over 10 BTC a week, BTC-MINING pays a half a BTC a week. I expect any dividends issued by assets held by Diablo Mining Company to also be returned.

Diablo Mining Company has been in negotiations with CPA to insure shareholder assets both on and off GLBSE and with Nyan for continued asset management for the assets on GLBSE. As part of these negotiations, I have agreed to reverse the motion on the cessation of dividends for three months and pay the dividends for August 2012. Nefario's actions have delayed these negotiations.

As of this time, I cannot login into Diablo Mining Company's GLBSE account. Even if I could, I cannot verify who owns shares of this company or how many they hold, Nefario refuses to release this information to me. Until Nefario releases this repeatedly requested information, I cannot pay dividends to shareholders. Dividends generated from non-GLBSE assets and sales will be held until Diablo Mining Company can reliably transfer them to shareholders.

I have worked hard to make sure this company succeeds in our mission. Diablo Mining Company, since it's inception, has had a three part plan: profit from Bitcoin mining, focus on the high density computing and data warehousing market through building our own data center, and invest heavily in renewable green energy to offset our own usage and also sell it back to the grid.

In this, I would like to make an announcement, and I wish I could make this announcement under better circumstances: Diablo Mining Company shall soon be offering dedicated server and cloud hosting, beginning our work on the second part of our plan. Although the data center part of the plan was originally written to be "bottom up" instead of "top down" to enter the market, this shall put us closer to our goal.

I promise that I will do everything possible to force Nefario to return the assets, but in the event that this does not happen, Diablo Mining Company will continue moving forwards. I know I have the support of the community and my shareholders on this, and I'd like to thank you all for that.

Edit: And yes, I am giving Nefario a chance to fix this. He made a mistake, and unlike some people, I am giving him a chance. If he does not return the assets, I will be requesting that theymos add a scammer tag to all of his forum accounts. I am not making this request for a few days as to give Nefario ample chance to apologize to DMC shareholders.

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September 11, 2012, 07:26:57 PM
 #473

Can I re-purchase the shares Diablo holds in BTCMC?


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September 11, 2012, 07:31:54 PM
 #474

Quote from: DiabloD3
40 BTC-MINING * 0.928 = 37.12
951 BTCMC * 0.570045 = 542.112795
5113 OBSI.ABMO * 0.05 = 255.65
2080 ASICMINER * 0.1 = 208

Diablo Mining Company currently holds on GLBSE:
54 BTC-MINING
951 BTCMC
9290 OBSI.ABMO


From PM to me:
You missed a third point. If DMC owns most of the market, from nearly worthless 1mh to the big ASIC heavy hitters, we both profit. See the thread for the motion that I just put forth, this should ensure the future domination of the market.

14 additional BTC-Mining
OBSI.ABMO swapped for ASICMINER

If thats the result - and you call that "dominating the market" you are out of touch with reality.
And your current projects just seem megalomaniac.
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September 11, 2012, 07:32:25 PM
 #475

So he has other accounts at glbse where he holds the assets? I think its possible that you, nefario, cant find these accounts. Regarding the motion... i see the possibility that diablo itself is holding enough bonds so that he can change the motion to what he want. I mean when he have different other accounts at glbse he still can vote.

Whatever...

No, this is misinformation being spread by nefario. I do not have other GLBSE accounts, and he has also locked my own private shares I have purchased with my own money thus I cannot vote.

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September 11, 2012, 07:36:22 PM
 #476

Diablo Mining Company currently holds on GLBSE:
54 BTC-MINING, currently valued 53.78 BTC
951 BTCMC, currently valued 561.08 BTC
9290 OBSI.ABMO, currently valued 929.00 BTC

 Huh
https://glbse.com/asset/view/OBSI.ABMO

Highest bid is 0.01000001. And that is for exactly 1 share. If you sold the rest it would be for 0.0001. Current valuation, almost exactly

1BTC
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September 11, 2012, 07:36:39 PM
 #477

Can I re-purchase the shares Diablo holds in BTCMC?

Nefario does not represent Diablo Mining Company nor our shareholders. We are not considering the sale of BTCMC anytime soon.

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September 11, 2012, 07:38:16 PM
 #478

Diablo Mining Company currently holds on GLBSE:
54 BTC-MINING, currently valued 53.78 BTC
951 BTCMC, currently valued 561.08 BTC
9290 OBSI.ABMO, currently valued 929.00 BTC

 Huh
https://glbse.com/asset/view/OBSI.ABMO

Highest bid is 0.01000001. And that is for exactly 1 share. If you sold the rest it would be for 0.0001. Current valuation, almost exactly

1BTC

We are not looking to sell ABMO. The current ask is 0.1.

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September 11, 2012, 07:40:13 PM
 #479

We are not looking to sell ABMO.

 You couldnt sell it because its a worthless junk bond no one wants, thats the point.

Quote
The current ask is 0.1.

The ask is as irrelevant as your 1BTC ask price for your DMC shares.
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September 11, 2012, 07:42:53 PM
 #480

It feels less like scamming and more like an instance of gross incompetence. We need an idiot business owner tag for borderline cases.

Legends tell of musclebeasts once roaming the cosmos that were so enormous, they could destroy entire planets with but a twitch of any anatomical feature. Are the legends true?

You hope so.

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