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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: Closing  (Read 19643 times)
Obsi
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July 04, 2012, 10:58:04 PM
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Estimated Minimum Daily Payout: 0 BTC per share (0%)
https://glbse.com/asset/view/OBSI.HRPT
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wirmola
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July 04, 2012, 11:10:56 PM
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what's this?
bitcoiners
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July 04, 2012, 11:16:42 PM
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The business receiving these investments is in the financial sector and currently expanding. They have demonstrated an excellent return on my personal investments and I thought now would be a good time to offer an alternative to the other high risk pass-through investment opportunities on the market.

I cannot ensure best practices are followed in a business over which I have no control.

Who are "they"?  I would need this answered before I invest my coin.  Otherwise, whatever.
humanitee
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July 04, 2012, 11:25:04 PM
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Links to "they" and what "they" do are preferable!
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July 05, 2012, 04:28:45 AM
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Links to "they" and what "they" do are preferable!

probably MMM... lol

(BFL)^2 < 0
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July 05, 2012, 09:19:14 AM
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Links to "they" and what "they" do are preferable!
probably MMM... lol
I also thought about offering MMM pass throughs with high margins for myself (1% per day would be a high margin for myself with MMM) and 0 exposure from my side.

Then I thought about the fact that this would only work by being secretive about my "business", (Nefario doesn't allow open ponzis on his exchange) and I wouldn't be happy with people loosing money in the end while trusting only me. Even if I tell I "only pass through" it's somehow my reputation.

It's interesting to see now not just pass throughs to a "business" (pirate) where nobody really know what it's about but a pass through to a "business" that's even completely undisclosed.

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gabbynot
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July 05, 2012, 02:43:42 PM
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Is this going to be set up similar to your OBSI.1MHS bond?  The one where initial investors are screwed over by a lowered "second" IPO price 32% less than the initial IPO?  It only took a few weeks for that to go from .25 BTC to .16 BTC a share.

Just wondering.
bitcoiners
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July 05, 2012, 03:41:39 PM
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Then I thought about the fact that this would only work by being secretive about my "business", (Nefario doesn't allow open ponzis on his exchange) and I wouldn't be happy with people loosing money in the end while trusting only me. Even if I tell I "only pass through" it's somehow my reputation.

It's interesting to see now not just pass throughs to a "business" (pirate) where nobody really know what it's about but a pass through to a "business" that's even completely undisclosed.

Seriously, I'm getting sick of all this secrecy.  All of this, "Invest in my shit and you'll make X% a day/week/month.  Though, I'm not telling you what "this" or "they" actually are" needs to end now.

Fuck this, are we investing or are we a bunch of idiots walking around throwing bitcoin out to whoever pays the highest %?

Disclose who and what we are investing in, or take a hike.

As a person new to the GLBSE I'm getting more turned off by the DAY!
redbeans2012
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July 05, 2012, 03:59:28 PM
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Then I thought about the fact that this would only work by being secretive about my "business", (Nefario doesn't allow open ponzis on his exchange) and I wouldn't be happy with people loosing money in the end while trusting only me. Even if I tell I "only pass through" it's somehow my reputation.

It's interesting to see now not just pass throughs to a "business" (pirate) where nobody really know what it's about but a pass through to a "business" that's even completely undisclosed.

Seriously, I'm getting sick of all this secrecy.  All of this, "Invest in my shit and you'll make X% a day/week/month.  Though, I'm not telling you what "this" or "they" actually are" needs to end now.

Fuck this, are we investing or are we a bunch of idiots walking around throwing bitcoin out to whoever pays the highest %?

Disclose who and what we are investing in, or take a hike.

As a person new to the GLBSE I'm getting more turned off by the DAY!

Dont let a few apples spoil the bunch.  The glbse is awesome

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July 08, 2012, 09:59:11 PM
 #10

IPO is live with 5000 bonds for sale @ 0.1 BTC

This is funding an expansion of a short term, high interest (fiat) micro lending & debt buying business. Assessment of continuing feasibility will be conducted on July 15th, 2012, and if all looks well, additional bonds will be released @ 0.1 BTC

This type of business took a spanking during the 2008-09 economic downturn, but default rates seem to have bounced back to near-norms. The main issue affecting the size of coupon payouts will be volatility of BTC exchange rates.

Coupon payouts will likely begin tomorrow evening.

Thank you.

Why won't you say who they are?  How would we actually know if they defaulted?

I might as well send BTC to some random bitcoin address. 

"Well "they" defaulted guys.  Sorry about that." lol.
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July 09, 2012, 03:21:49 PM
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IPO is live with 5000 bonds for sale @ 0.1 BTC

This is funding an expansion of a short term, high interest (fiat) micro lending & debt buying business. Assessment of continuing feasibility will be conducted on July 15th, 2012, and if all looks well, additional bonds will be released @ 0.1 BTC

This type of business took a spanking during the 2008-09 economic downturn, but default rates seem to have bounced back to near-norms. The main issue affecting the size of coupon payouts will be volatility of BTC exchange rates.

Coupon payouts will likely begin tomorrow evening.

Thank you.

Why won't you say who they are?  How would we actually know if they defaulted?

I might as well send BTC to some random bitcoin address. 

"Well "they" defaulted guys.  Sorry about that." lol.

Agreed - I'd probably take a small position in this if:

1. I knew where the money was going.
2. I had a cutthrough guarantee of the ultimate recipiant of the funds.
bitcoiners
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July 10, 2012, 01:49:25 AM
 #12

IPO is live with 5000 bonds for sale @ 0.1 BTC

This is funding an expansion of a short term, high interest (fiat) micro lending & debt buying business. Assessment of continuing feasibility will be conducted on July 15th, 2012, and if all looks well, additional bonds will be released @ 0.1 BTC

This type of business took a spanking during the 2008-09 economic downturn, but default rates seem to have bounced back to near-norms. The main issue affecting the size of coupon payouts will be volatility of BTC exchange rates.

Coupon payouts will likely begin tomorrow evening.

Thank you.

Why won't you say who they are?  How would we actually know if they defaulted?

I might as well send BTC to some random bitcoin address. 

"Well "they" defaulted guys.  Sorry about that." lol.

Agreed - I'd probably take a small position in this if:

1. I knew where the money was going.
2. I had a cutthrough guarantee of the ultimate recipiant of the funds.

It's amazing to me that he's totally ignoring our concerns and issues.  Yet another RED FLAG!
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July 11, 2012, 05:14:36 AM
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Grats on the sale of another 150 shares. Anything to add on the ultimate recipient of funds?
nimda
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July 11, 2012, 05:14:16 PM
 #14

who wants to bet on when "they" default?

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
gabbynot
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July 11, 2012, 05:23:00 PM
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Price hit .06 yesterday - people are already bailing.
totaleclipseofthebank
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July 11, 2012, 08:38:29 PM
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hahaha
gabbynot
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July 11, 2012, 09:26:58 PM
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Any chance of you actually answering some of the concerns raised earlier in this thread?
BrightAnarchist
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July 11, 2012, 09:41:53 PM
 #18

What about a jump in the price of BTC? Clearly USD-based micro-loans would require the bond value to float.
Sukrim
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July 11, 2012, 10:22:24 PM
 #19

Is this going to be set up similar to your OBSI.1MHS bond?  The one where initial investors are screwed over by a lowered "second" IPO price 32% less than the initial IPO?  It only took a few weeks for that to go from .25 BTC to .16 BTC a share.

Just wondering.

These bonds will not be offered by OBSI.HRPT for less than 0.1 BTC
Initial investors in OBSI.1MHS were not screwed over. They valued 1 MH/s at the IPO price and above at that point in time. They are still receiving exactly what the contract states (a bit more in fact) and they have the opportunity to purchase more OBSI.1MHS bonds for an even better price. Do I control the price at which the market values 1 MH/s? Should I attempt to prop it up? Or should I continue my expansion (which is the entire reason for the offering) at prices that remain profitable?

Why won't you say who they are?  How would we actually know if they defaulted?

I might as well send BTC to some random bitcoin address. 

"Well "they" defaulted guys.  Sorry about that." lol.

You'd have to take my word for it. Like many of my other offerings, and many things in life, it's based on trust. If you don't trust me to be honest about the situation, then you shouldn't invest in my offerings.
Why do you still keep OBSI.1MHS running, since you can now buy back shares with the money you got minus dividends and still have a profit? Also you seem to have this amazing opportunity here to get interest rates similar to a ponzi scheme but without being one of course, as you - the nice and friendly neighbourhood businessman that you are - never would invest. It might make Baby Jesus cry after all!

Honestly, I don't understand why such stuff is even allowed on GLBSE, this is right against rule #9 imho:
Quote
9. The Exchange reserves the right to suspend trading of any asset, or suspend access to an asset creator's account, for failure of an asset creator to provide requested information, or in the event of suspected fraud.
I highly suspect fraud in this venture and I think I'm not the only one, judging from posts so far.

By the way:
* No buyback clause
* No way of knowing that the underlying venture really has defaulted (or exists, or doesn't have much better rates than what's paid here or...)
* Paying 0% interest forever is not even against the contract(!)
* 10 million bonds issued
* Issuer has a history of at least questionable actions with his GLBSE assets
* ...
How stupid (and I don't use that word often!) must people be who buy this stuff?!

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Bitcoin Oz
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July 11, 2012, 11:23:07 PM
 #20

1mh/s bonds are a bad investment as the return will be continually cut with difficulty increases.

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