Diablo Mining Company

[EskimoBob]

THe only reason I keep "trolling" is because you keep refusing to answer basic and straightforward questions, the answer to which you owe your shareholders.

Asking the same question over and over is not going to get a different answer.

Where did the money go ?

Nowhere. Assets were purchased, the market value of the assets plummeted due to market factors.

You are obviously incapable compiling a simple P/L list so we have no idea how you managed to wasted all the BTC DMC had.

As of 1 July your reported that DMC assets are worth 2189.48 BTC,  shares outstanding 4066 and NAV 0.53848499754058 BTC
August 1 you reported the DMC to be valued at 1476.77 BTC, shares outstanding 2993 and NAV 0.493407951887738 BTC
You managed to lose 0.045077045652842 per share - 8.37% of NAV. No big deal.

As of September 1. you reported DMC assets at 1253.16 BTC, shares outstanding 20909 and NAV at 0.059933999713042 BTC!

Based on the numbers and reported holdings, you sold additional 17916 shares and managed to drop the share price by -0.433473952174696 BTC per share.
AMAZING!
Looks like you bought additional 43 shares of your biggest loser: BTCMC (31.3 BTC?) . BTW, why are you not reporting the dividends from BTCMC?  I estimate those to be about 14.25 BTC or so.

You also bought  40 shares of BTC-MINING (40 BTC?), that has probably earned DMC about 1.96 BTC in div. (or not?) So far, this has held the market value well.
Looks like you also bought 2080 shares of ASICMINER (208 BTC?) that has also held it value well.

Total spent on new purchases is 279.3? BTC - 14.25 in dividends in August. If you issued 17916 new shares to cover those trades (279.3-14.25)/17916=0,014794039 you received 0,014794039 per share? WTF?! This has to be wrong!
I must have made a mistake because I can not find trades in GLBSE.  Yes, someone traded DMC close to 0.02 and between 0.035 and 0.045 but this is only about 70 BTC in total on (August 15)

I almost forgot, you have liquidated the following DMC holdings in August:

Code:

 46     BITBOND       0.4      18.4
324     YABMC         0.13     42.12
188     BMMO          0.08     15.04
 21     ZETA-MINING   0.15     3.15
735     TYGRR.BOND-A  0.125    91.875
567     PIMP          0.15     85.05
121     BFLS.RIG      0.95     114.95
134     HYDRO.BONDS   1.55     207.7
 40     PAJKA.BOND    0.06     2.4
Total                        580.685 BTC?

Can you clear this up for me? Where did I make a mistake in those calculations? If I did not, where did the BTC go?

[1713861728]

1713861728

[1713861728]

1713861728

[1713861728]

1713861728

[1713861728]

1713861728

[DiabloD3]

1253.16 BTC

Yes, and as of now DMC's assets are worth 1407.74 BTC and shares outstanding count is unchanged. Thats a 154.58 BTC difference.

[EskimoBob]

1253.16 BTC

Yes, and as of now DMC's assets are worth 1407.74 BTC and shares outstanding count is unchanged. Thats a 154.58 BTC difference.

Unless you returned some of the BTC (178,99), total market value is at 1228.7453 + 14.25379722 from BTCMC dividends (09.01.2012) and NAV is at 0.0594 BTC

[DiabloD3]

1253.16 BTC

Yes, and as of now DMC's assets are worth 1407.74 BTC and shares outstanding count is unchanged. Thats a 154.58 BTC difference.

Unless you returned some of the BTC (178,99), total market value is at 1228.7453 + 14.25379722 from BTCMC dividends (09.01.2012) and NAV is at 0.0594 BTC

Sans a small trade with Obsi for more ABMO, market conditions changing accounts for most of that.

[EskimoBob]

Where did the money go ?

Nowhere. Assets were purchased, the market value of the assets plummeted due to market factors.

You are obviously incapable compiling a simple P/L list so we have no idea how you managed to wasted all the BTC DMC had.

As of 1 July your reported that DMC assets are worth 2189.48 BTC,  shares outstanding 4066 and NAV 0.53848499754058 BTC
August 1 you reported the DMC to be valued at 1476.77 BTC, shares outstanding 2993 and NAV 0.493407951887738 BTC
You managed to lose 0.045077045652842 per share - 8.37% of NAV. No big deal.

As of September 1. you reported DMC assets at 1253.16 BTC, shares outstanding 20909 and NAV at 0.059933999713042 BTC!

Based on the numbers and reported holdings, you sold additional 17916 shares and managed to drop the share price by -0.433473952174696 BTC per share.
AMAZING!
Looks like you bought additional 43 shares of your biggest loser: BTCMC (31.3 BTC?) . BTW, why are you not reporting the dividends from BTCMC?  I estimate those to be about 14.25 BTC or so.

You also bought  40 shares of BTC-MINING (40 BTC?), that has probably earned DMC about 1.96 BTC in div. (or not?) So far, this has held the market value well.
Looks like you also bought 2080 shares of ASICMINER (208 BTC?) that has also held it value well.

Total spent on new purchases is 279.3? BTC - 14.25 in dividends in August. If you issued 17916 new shares to cover those trades (279.3-14.25)/17916=0,014794039 you received 0,014794039 per share? WTF?! This has to be wrong!
I must have made a mistake because I can not find trades in GLBSE.  Yes, someone traded DMC close to 0.02 and between 0.035 and 0.045 but this is only about 70 BTC in total on (August 15)

I almost forgot, you have liquidated the following DMC holdings in August:

Code:

 46     BITBOND       0.4      18.4
324     YABMC         0.13     42.12
188     BMMO          0.08     15.04
 21     ZETA-MINING   0.15     3.15
735     TYGRR.BOND-A  0.125    91.875
567     PIMP          0.15     85.05
121     BFLS.RIG      0.95     114.95
134     HYDRO.BONDS   1.55     207.7
 40     PAJKA.BOND    0.06     2.4
Total                        580.685 BTC?

Can you clear this up for me? Where did I make a mistake in those calculations? If I did not, where did the BTC go?

Can you answer the questions?

[Sturmvogel]

If you issued 17916 new shares to cover those trades (279.3-14.25)/17916=0,014794039 you received 0,014794039 per share? WTF?! This has to be wrong!

https://bitcointalk.org/index.php?topic=97178.msg1094798#msg1094798

We have also obtained 4,200 shares of DMC for only 50 bitcoins in a special one-time "insider" trade with Diablo-D3.

[P4man]

We have also obtained 4,200 shares of DMC for only 50 bitcoins in a special one-time "insider" trade with Diablo-D3.

[P4man]

The worst part is I feel usagi got ripped off

Well, thats up for debate I guess, but for sure all other shareholders where screwed over scandalously. Its safe to assume now the other 15000 or whatever missing shares where given away similarly "under the table". No wonder Diablo didnt want to answer our questions.

[Bitcoin Oz]

THe only reason I keep "trolling" is because you keep refusing to answer basic and straightforward questions, the answer to which you owe your shareholders.

Asking the same question over and over is not going to get a different answer.

Where did the money go ?

Nowhere. Assets were purchased, the market value of the assets plummeted due to market factors.

I told you this would happen months ago https://bitcointalk.org/index.php?topic=77469.msg985621#msg985621

[Bitcoin Oz]

The worst part is I feel usagi got ripped off

Well, thats up for debate I guess, but for sure all other shareholders where screwed over scandalously. Its safe to assume now the other 15000 or whatever missing shares where given away similarly "under the table". No wonder Diablo didnt want to answer our questions.

Who did he give them too and why arent they earning dividends and/or where is 20,000 btc?

Why is he selling his shares for .015 under the table and not reporting it  ?

[Namworld]

He was trading 1 ASICMINER for 9 DMC when the price crashed on DMC. Which made the outstanding shares go from ~2000 to over 20000.

Pretty much 0.01111111 per share.

http://dmc.adterrasperaspera.com/trade/

^^^ Watch that trading chart, rates keep changing.

[556j]

from OP

Diablo Mining Company is setting out to be the first $1m USD Bitcoin Startup.
DMC will focus on mining and secondary revenue streams by not only owning the largest mining farm in existence, but also by owning its own dedicated facility and generating green power by solar and/or wind.
DMC will pursue any technology that gives the best performance per dollar and the best returns to our investors. We will never purchase Butterfly Labs hardware.
solar panels
Large scale wind
Thats $895500 for a mining company that can operate in the most adverse conditions (ones that would bankrupt any other mining company) that can make $2.4 million a year.

I'm never happy to see people lose money, but come the fuck on. This shit was worse than pirate. Anyone that "invested" in this is a moron.

[P4man]

He was trading 1 ASICMINER for 9 DMC when the price crashed on DMC. Which made the outstanding shares go from ~2000 to over 20000.

Pretty much 0.01111111 per share.

http://dmc.adterrasperaspera.com/trade/

^^^ Watch that trading chart, rates keep changing.

So diablo keeps trading his unsold shares at market rate (or apparently, even far below). His supply is almost infinite, like his ability to make unbelievably stupid deals and thus evaporating share (holder) value.  Essentially what that boils down to is robbing early investors (who see their investment go up in smoke as share price crashes) to pay newer ones with ever cheaper shares. Over and over.
 "Robbing Peter to Pay Paul". Its not so very different from a ponzi.

I do wonder if those 50BTC plus whatever he got for the other 10+K shares ended up in his own pockets or if he (mal)invested them in something for DMC. Since he refuses to disclose any information on his swap deals,  I guess its up to everyone to guess if he is scamming or just incredibly incompetent. Or maybe both; after all, its  "only" 50BTC though, so I guess if he is scamming, he is even incompetent at that.

Either way, best of luck to everyone still owning shares in DMC. And remember, only trolls want to see NAV statements and accountability.

[DiabloD3]

I do wonder if those 50BTC plus whatever he got for the other 10+K shares ended up in his own pockets

This is why no one takes you seriously. Why would I steal 50 BTC from DMC when I could legitimately make tens of thousands of BTC a year as my normal salary once DMC is generating enough to afford me as an employee? You make no sense.

[EskimoBob]

As of now, I am 100% sure that Diablo is so incompetent that he can not even understand how he has fucked up. (or he has serious psychological issues)
 
1) You obviously have no idea wtf is going on with the DMC portfolio (investors money).
2) you are not competent enough to compile a simple monthly statement and you are way too stupid to ask for help
3) See 1 and 2 - you probably do not use any software to track the portfolio and trades or you have no idea how to use it.
4) You keep avoiding questions and you keep ling to your investors
5) Your miscalculated swaps have lost large amount of investors coin.
6) ....

Please feel fee to add more fuck ups.

 

[Nefario]

Due to a considerable number of complaints by shareholders for contract violations and  gross incompetence I am proposing the removal of Diablo-D3 from the running of DMC.

His account has been frozen until such time as this issue is resolved.

I will run a motion and shareholders will determine whether to continue with Diablo-D3 running the asset.

If they are happy for him to continue running (and the motion doesn't carry),his account will be unlocked and he can continue as before.

If not DMC will be removed and a new operator will be found, failing to find an operator will result in DMC's assets being liquidated, Diablo's personal account will then be unlocked.

Nefario.

[SebastianJu]

Looks like glbse has some kind of SCE...

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:

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.

[BadBear]

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.

[greyhawk]

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.

[SebastianJu]

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