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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 19628 times)
The00Dustin
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August 22, 2012, 05:12:10 PM
 #101

Generally speaking, doing something that is more favorable toward the other party of a contract (i.e. paying out extra dividends to bondholders) and less favorable to yourself (i.e. Obsi keeps less money) is totally fine and would not be considered a breach of contract.
Generally speaking, a contract has terms that state that the favored party's failure to enforce a provision does not amount to a waiver of tha provision.  Also, generally speaking, contracts are enforced using lawyers and judges (unless there is a binding arbitration clause, in which case they are enforced that way).  The GLBSE, and presumably this contract, fall outside of "generally speaking."  With nefario being the judge, jury, and executioner when it comes to GLBSE, it is not unreasonable to avoid breaching a contract in either direction.  Moreover, Obsi has stated the funds will be placed in a buffer, which implies that he is not keeping more or less money as per your example.
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racerguy
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August 23, 2012, 09:56:48 PM
 #102

We're impolite investors here so allow me, thank you for the 1%.
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August 24, 2012, 11:28:49 AM
 #103

I notice you've just been paying 1% og .5% pretty much every day lately, instead of some seemingly random number. Did you get bored of pretending that the dividend is based on real income?
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August 24, 2012, 11:33:43 PM
 #104


I notice you've just been paying 1% og .5% pretty much every day lately, instead of some seemingly random number. Did you get bored of pretending that the dividend is based on real income?

I notice you don't bother reading the threads you post in, instead just post some seemingly random troll post. Did you get bored of pretending you had anything better to do?

I think it is a valid question.

If I understand correctly, since the recent drop of the BTC/USD price last weekend, there is a surplus in the dividend buffer and so the payments are at the upper limit, 1%?

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August 24, 2012, 11:57:33 PM
 #105

If I understand correctly, since the recent drop of the BTC/USD price last weekend, there is a surplus in the dividend buffer and so the payments are at the upper limit, 1%?
I admit I have a hard time even pretending this is not a ponzi, but even if this explanation was true it has to seem a *little* suspicious that the payouts jumps between either 0.5% or 1% and stays on exactly those numbers? He was putting a lot more effort into it in the beginning.
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August 27, 2012, 04:48:43 AM
 #106

Today's daily coupon has been paid @ 1% of IPO price.

Thank you.


Thank you!
bitcoinbear
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August 30, 2012, 08:18:38 PM
 #107

Today's daily coupon has been paid @ 1% of IPO price.

Thank you.


Do you really have to bump the tread every day? I imagine the people who own these shares can go on GLBSE and see the dividend has been paid. Perhaps you only need to post something if the payment will be delayed, or if you have some more interesting news?

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The00Dustin
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August 30, 2012, 09:32:24 PM
 #108

Today's daily coupon has been paid @ 1% of IPO price.

Thank you.
Do you really have to bump the tread every day? I imagine the people who own these shares can go on GLBSE and see the dividend has been paid. Perhaps you only need to post something if the payment will be delayed, or if you have some more interesting news?
Or maybe potential investors want to know how consistent he is and what dividends currently look like.  They won't stay at the max 1% forever, and anyone who might want to try to do any due diligence at least needs to know the current situation (even if it is "paid 1% again today").
bitcoinbear
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August 30, 2012, 09:35:40 PM
 #109

Today's daily coupon has been paid @ 1% of IPO price.

Thank you.
Do you really have to bump the tread every day? I imagine the people who own these shares can go on GLBSE and see the dividend has been paid. Perhaps you only need to post something if the payment will be delayed, or if you have some more interesting news?
Or maybe potential investors want to know how consistent he is and what dividends currently look like.  They won't stay at the max 1% forever, and anyone who might want to try to do any due diligence at least needs to know the current situation (even if it is "paid 1% again today").

But the information is available (actually, more complete info) right on the GLBSE asset page, just click on the "Dividend payments" and it will show the entire dividend payment history.

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The00Dustin
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August 30, 2012, 11:43:09 PM
 #110

But the information is available (actually, more complete info) right on the GLBSE asset page, just click on the "Dividend payments" and it will show the entire dividend payment history.
This is true, even when not logged in, shows how much time I waste on GLBSE.   Roll Eyes
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August 31, 2012, 08:36:47 AM
 #111

Thank you for continuing to bump the thread with dividend info, Im a GLBSE noob so I didn't actually know all the info was in front of my eyes  Cheesy

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September 02, 2012, 12:17:34 AM
 #112

Today's daily coupon has been paid @ 1% of IPO price.

Thank you.
I wonder if it's easier for Obsi to pay out 1% every day so he can just copy and paste the message xD No complaints by any means though.
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September 02, 2012, 09:27:08 PM
 #113

Today's daily coupon has been paid @ 1% of IPO price.

Thank you.

Just keep it coming.
Thank you.


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September 04, 2012, 10:51:03 AM
 #114

  • Zero transparency
  • Absurdly high interest rates
  • Additional bonds issued every week
  • 0 interest could be paid indefinitely within the terms of the contract
  • A buyback is only promised in case of an orderly shutdown of a unknown business with zero transparency.  Obsi can claim the investment failed and pay nothing
  • Issuer is completely unverified on GLBSE

Obsi can steal your investment at any time while still adhering to his contract.

PONZI SCAM

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JMAHH
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September 04, 2012, 10:54:31 AM
 #115

  • Zero transparency
  • Absurdly high interest rates
  • Additional bonds issued every week
  • 0 interest could be paid indefinitely within the terms of the contract
  • A buyback is only promised in case of an orderly shutdown of a unknown business with zero transparency.  Obsi can claim the investment failed and pay nothing
  • Issuer is completely unverified on GLBSE

Obsi can steal your investment at any time while still adhering to his contract.

PONZI SCAM

Quoting for posterity

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September 04, 2012, 11:05:02 AM
 #116

In before default of yet another ponzi scam.
conspirosphere.tk
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September 04, 2012, 11:31:41 AM
 #117

PONZI SCAM

Probably. But at 1% if it survives at least 100 days, or I sell before it collapse, I come out on the plus side anyway.

In Ponzis We Trust (to get in and out quickly).

Bitcoin Oz
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September 05, 2012, 01:57:52 AM
 #118

PONZI SCAM

Probably. But at 1% if it survives at least 100 days, or I sell before it collapse, I come out on the plus side anyway.

In Ponzis We Trust (to get in and out quickly).

Does this mean you are going to actively try and find new "marks" ?  If you know its a ponzi and participate anyway you are willingly getting involved in a  criminal act to defraud more people.

bitcoinbear
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September 05, 2012, 02:00:08 AM
 #119

Obsi, do you have anything to say in response to the accusation that you are running a ponzi scam? Or are you just going to ignore it and hope people keep investing anyway?

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The00Dustin
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September 05, 2012, 02:25:17 AM
 #120

Obsi, do you have anything to say in response to the accusation that you are running a ponzi scam? Or are you just going to ignore it and hope people keep investing anyway?
Have you read the thread?  What more can he say?  I admit, I would like to see answers to the questions posted here:
1. I appreciate you taking the time to lay out examples of the issuers business operations. However, your examples do not include many important factors such as:

a. lag-time regarding employing newly raised capital.
b. lag-time regarding conversion and transfer back for dividends.
c. any form of estimated default rate (which has to be somewhere in the double digits on such high risk, high interest loans)
d. your equation assumes 100% of capital is employed 100% of the time.
e. as the total amount of working capital increases, it will become more difficult for the issuer to employ it all. With 10,000,000 shares issued, the current potential marketcap is about $1,439,200. Of course, we are a long ways from that, but it is important to note. As total working capital increases, it is a risk for shareholders.

I know you probably left most of these points out intentionally to keep is as basic as possible for people to understand. It is good to highlight these potential risks though. I am just trying to help provide clarity; just as your are.

2. As stated before, I would just like to see a greater dialogue between the issuer, investors, and potential investors. Bitcoinbear has already responded that today's dialogue has helped him understand the issuance better. I think helping create a dialogue for the sake of investor awareness is a very good thing.
However, as far as I am concerned, accusations without basis don't deserve a response.  On that note, have you ever read previous threads with similar accusations?  From what I've seen (regardless of whether or not Pirate's operation was one), responding only serves to feed the trolls.  I would ignore your post just like I have been ignoring all of the accusatory ones, but you seem at least a bit legit based on your earlier post regarding the thread-bumping vs just looking at GLBSE (where I was subsequently glad to see I wasn't the only one that didn't realize the dividend information was there).
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