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Author Topic: New GLBSE.com for FPGA mining investment - FPGAMINING  (Read 11198 times)
moparguy528
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July 21, 2012, 08:04:21 PM
 #1

Long time BTC user so I have decided to finally mine my own. My FPGA only cluster can be found listed on GLBSE as ticker FPGAMINING. Currently pay dividends greater than most other mining setups.

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conspirosphere.tk
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July 25, 2012, 02:34:46 PM
 #2

I would be more encouraged to invest if:
1. you get verified on the GLBSE
2. You tell us something about your hardware assets and a measure of MHs per bond.
Thanks
moparguy528
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July 26, 2012, 11:46:28 PM
 #3

I am now finally verified in the bond listing.

The FPGA cluster is still expanding and i will be releasing shares for sale once a stable dividend rate can be obtained. Your investment is not in a  particular amt of MH/s, but is in the returns generated weekly by this growing mining operation. The operation is currently all FPGA and will grow and evolve as economics warrant. Up to 30% of the generated returns will be used to continually grow the operation to prevent it from stagnating as time goes on.

I believe this will be more valuable than a specific hash rate that becomes less valuable as difficulty rises.
Francesco
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August 03, 2012, 10:16:27 PM
 #4

Is there a scheduled buyback already?  Huh
Quote
Date/time of buyback: 00:34, Tue Jul 09
(not in the contract, but below "mail issuer")

I can't even figure out what that date means.

Also: "reserves the right to upgrade to ASIC" means you haven't planned the transaction yet?
(maybe this is the reason the price is so low relative to dividend?)
Cryptonite
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August 06, 2012, 11:17:20 AM
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We are in a time currently stuck between two dimensions of technological and economical shift.
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August 07, 2012, 08:32:42 AM
 #6

Your investment is not in a  particular amt of MH/s, but is in the returns generated weekly by this growing mining operation. ... Up to 30% of the generated returns will be used to continually grow the operation to prevent it from stagnating as time goes on.

OK. How do you calculate the dividend per share then?
Any chance that you could dilute (i.e. proportionally sell more shares than your hardware expansion)?
Some pics of your hardware with your handwritten name on it would be nice.
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August 12, 2012, 08:56:20 AM
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The FPGA cluster is still expanding and i will be releasing shares for sale once a stable dividend rate can be obtained. Your investment is not in a  particular amt of MH/s, but is in the returns generated weekly by this growing mining operation. The operation is currently all FPGA and will grow and evolve as economics warrant. Up to 30% of the generated returns will be used to continually grow the operation to prevent it from stagnating as time goes on.

I like this, but the operation is stagnating. If you have set aside 30% of mining returns, you must have added another single by now, yet I don't see dividends rising. What are  your plans? Can you please show the numbers?

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Francesco
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August 12, 2012, 09:15:58 AM
 #8

Prices are variyng wildly, probably because divs sure are good, but lack of communication sure worries...
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August 12, 2012, 01:27:38 PM
 #9

worrying thing is you only have 14 posts on this forum / lack of verification on GLBSE
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August 20, 2012, 11:59:25 AM
 #10

Can you post some pictures of your setup ? For both information and trustworthiness.

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August 20, 2012, 03:21:45 PM
 #11

speak with us @moparguy528

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August 20, 2012, 10:38:50 PM
 #12

I'd be interested in this if there was more communication and some verification.

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August 21, 2012, 04:04:17 AM
 #13

warning on newbie invests. they can steal easy.

if u are care, u use more established invests. i use ones with highest volume and verify.
https://glbse.com/asset/view/GIGAMINING
https://glbse.com/asset/view/COGNITIVE
moparguy528
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August 25, 2012, 03:21:19 AM
 #14

Verification has been complete for some time.

Just a heads up that many of the higher volume investments have either been in suspected ponzi schemes or stagnant mining pools where payouts shrink as mining difficulty increases. I have the mining equipment working already but setup this bond to increase the mining operation. I mine on various pools and solo with approx 70GH/s with more coming online each week. I have only released shares that can be supported by a portion of my already-existant mining profits. I have devoted a minimum of 60% (actually closer to 90%)of the profit from current operations to paying dividends. Starting this week i will devote up to 30% to further expansion. This has been very profitable to me as i have built up my operation so as to not stagnate. Ztex 1.15y quads, x6500 FPGA miners are currently running, and hopefully soon ModMiner Quads will be added to the mix very soon.

On a side note, unlike some investments similair to mine, i held no assets with Pirate@40 so the bond finances are untainted by the collapse this last week.

Note that this secondary to my 9-5 job and personal responsibilities, so I have limited availabilty.
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August 25, 2012, 01:37:32 PM
 #15

OK, just show us a pic of your HW with your name on it and I am in.
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August 25, 2012, 10:26:22 PM
 #16

OK, just show us a pic of your HW with your name on it and I am in.

+1

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moparguy528
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August 26, 2012, 01:07:16 AM
 #17

Pic will be forthcoming soon...i understand the need to build trust. My miners are located offsite from my residence so i will run down there soon and take a few pictures of the mining equipment dedicated to already sold shares. The bulk of my equipment doesn't have shares sold for it, so that profit is mine  Wink so it isnt for grabs yet.

By the way...you might check out https://bitcointalk.org/index.php?topic=98517.0 to see why I don't list a specific amount of MH/s per per bond and instead leave a percentage of the profits for continual growth of the mining cluster.
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August 28, 2012, 11:23:31 PM
 #18

Just another heads up. I haven't had time to take the pics yet but if you check the Ozcoin pool at www.ozco.in , go to "Hall of Fame" on the upper bar, click on "Round Shares" you can usually see me in the top 10 miners. I also mine on Eclipse and elsewhere anonymously as well, but I though that showing part of my operation on Ozcoin would help.
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August 29, 2012, 05:03:30 PM
 #19

Ok thanks, I'm still waiting for the photo to give you all my bitcoins  Wink

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August 29, 2012, 11:42:25 PM
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I went ahead and invested a little bit, but I'm holding off on grabbing more for the same reason as above.

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August 30, 2012, 03:50:44 AM
 #21

Here are the pics of the x6500 miners (80 dual FPGA boards in total). Once i visit the rest of my farm I will update with more pictures

http://i47.tinypic.com/s6rmmv.jpg
http://i49.tinypic.com/adkg89.jpg
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August 30, 2012, 02:29:40 PM
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Pretty awesome looking cluster there.  Doubts are gone, thanks.  Now to get some more coins to GLBSE quickly...

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August 30, 2012, 05:18:36 PM
 #23

I believe him although its not 100% sure if morpaguy is honest... But hey - my intuition works pretty well these days.

Plus we have some hard evidence - he really has these fpga-s.

He really is in top 10 in ozcoin ...

One can be paranoid till tomorrow.

I believe him and financed a little bit his minig rig. Everybody think for themselves.

Go go dude!

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moparguy528
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August 31, 2012, 12:10:33 PM
 #24

Pretty awesome looking cluster there.  Doubts are gone, thanks.  Now to get some more coins to GLBSE quickly...

Thank you....the wiring runs aren't very pretty but I wanted to get them up and running quickly.
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September 02, 2012, 01:55:31 AM
 #25

so why the recent sell off of shares? is it the new motion? full moon?

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Francesco
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September 02, 2012, 09:21:11 AM
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so why the recent sell off of shares? is it the new motion? full moon?

I'd really like to understand what goes on with the price here. Right now this is one of the titles I am most exposed to, to the point I start to feel unconfortable... but at this prices, I can not avoid buying! Hope it will go up over 0.9 again like next time Smiley
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September 02, 2012, 09:32:57 AM
 #27

so why the recent sell off of shares? is it the new motion? full moon?

I'd really like to understand what goes on with the price here. Right now this is one of the titles I am most exposed to, to the point I start to feel unconfortable... but at this prices, I can not avoid buying! Hope it will go up over 0.9 again like next time Smiley

Someone probably needed to liquidate quickly.

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September 02, 2012, 12:37:58 PM
 #28

Someone probably needed to liquidate quickly.

Or maybe it's because someone here is periodically shorting mining bonds, since he believes that fixed MHs/s bonds are "turds". Recently I took advantage of some of his dumps, and now I am at the top in the bids for FPGAMINING and will buy MOAR.
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September 02, 2012, 02:50:46 PM
 #29

Thanks for the input folks. I'll be buying more as well if whoever it is keep dumping the "turds"  Grin

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September 02, 2012, 03:59:37 PM
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imo this is the most undervalued mining stock right now. the stock is almost fully verified and if you do the math on the dividends per currently paying share, you are getting 3.5% yield per week at current prices. do the calculation on paid out shares and you are buying the equivalent of 10 mhash per share at this difficulty, and its not even a fixed mhash bond. Compare this to other mining stocks and it blows them out of the water.

There are a couple drawbacks though: the issuer holds 60k shares that could be dumped on the market at any time, so this adds a little uncertainty for future price and payouts. Also people don't know much about the issuer, not much reputation, so I think that scares some people off.
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September 03, 2012, 03:13:22 AM
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imo this is the most undervalued mining stock right now. the stock is almost fully verified and if you do the math on the dividends per currently paying share, you are getting 3.5% yield per week at current prices. do the calculation on paid out shares and you are buying the equivalent of 10 mhash per share at this difficulty, and its not even a fixed mhash bond. Compare this to other mining stocks and it blows them out of the water.

There are a couple drawbacks though: the issuer holds 60k shares that could be dumped on the market at any time, so this adds a little uncertainty for future price and payouts. Also people don't know much about the issuer, not much reputation, so I think that scares some people off.

Great analysis.  I agree with the exception that should the new motion pass it will bring dividend down to 2.5% with the remaining 1% added to expansion of farm. I see that as a positive though as it should keep dividend up as difficulty increases.  If the issuer is transparent and communicative I can see this being a very popular security as reputation increases.  I am a little concerned with the buyback option in the contract and it seems like it has been used before as there have been fewer shares payed out some weeks than previous weeks in the dividend record.

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September 03, 2012, 11:08:41 AM
 #32

I saw the new motion - expires on the 4th of Sep.

I think 3.5% weekly is very unsustainable and is more like slavery for the miner.

He is sharing profits equally among bond-holders - not coupling a bond with a fixed MHash value...

So even 2.5% weekly would be awesome.

For all the greedy folks who cant see how this investment compares to the realworld investments... Feel free to sell out. Those who value a good investment will buy you out.

PS. The divindends drop to 2.5% would give more funds to morpaguy to buy new hardware. So as the motion says - in the mid and long term this is beneficial to all of us.

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September 03, 2012, 02:21:51 PM
 #33

I thought they were undervalued @ .9
Now it's .75, so today it's a great day to buy Smiley
I don't care if they go down more. I'm not planning to sell them soon anyway... I will only buy more if the price keeps going down...

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September 03, 2012, 07:29:54 PM
 #34

my favorite stocks:)

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September 04, 2012, 10:00:14 AM
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imo this is the most undervalued mining stock right now. the stock is almost fully verified and if you do the math on the dividends per currently paying share, you are getting 3.5% yield per week at current prices. do the calculation on paid out shares and you are buying the equivalent of 10 mhash per share at this difficulty, and its not even a fixed mhash bond. Compare this to other mining stocks and it blows them out of the water.

There are a couple drawbacks though: the issuer holds 60k shares that could be dumped on the market at any time, so this adds a little uncertainty for future price and payouts. Also people don't know much about the issuer, not much reputation, so I think that scares some people off.

Great analysis.  I agree with the exception that should the new motion pass it will bring dividend down to 2.5% with the remaining 1% added to expansion of farm. I see that as a positive though as it should keep dividend up as difficulty increases.  If the issuer is transparent and communicative I can see this being a very popular security as reputation increases.  I am a little concerned with the buyback option in the contract and it seems like it has been used before as there have been fewer shares payed out some weeks than previous weeks in the dividend record.

The motion isn't very clear: 2.5% relative to IPO price, or current price? We are already near 2.5% relative to 1 BTC IPO price. And what is "current" price, since it went from 1 to 0.75 in a week?
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September 04, 2012, 01:23:10 PM
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just looking at the dividend payout, it looks like its relative to 1 btc. so if you can get in at .75 you are getting over 3% still.
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September 04, 2012, 09:33:35 PM
 #37

 
just looking at the dividend payout, it looks like its relative to 1 btc. so if you can get in at .75 you are getting over 3% still.

That would be so great  Smiley But If it's already like this -was the motion in effect before its formal deadline? Really improper use of the tool. But as long as he gives me 0.025/w, I feel like forgiving him   Grin
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September 09, 2012, 02:46:15 PM
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@moparguy528:
Here are the pics of the x6500 miners (80 dual FPGA boards in total). Once i visit the rest of my farm I will update with more pictures
nice pics!!

can you please tell us, what else does your mining company consist of besides the 80 * x6500 dual miners?
thanks

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September 09, 2012, 05:07:59 PM
 #39

nice pics!!

can you please tell us, what else does your mining company consist of besides the 80 * x6500 dual miners?
thanks



Oh, another lord! I'm honored!


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September 16, 2012, 08:02:39 AM
 #40

why isnt moparguy on ozcoin any more ?

http://www.ozco.in/content/hall-fame-round-shares-bitcoin

??

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September 18, 2012, 07:03:16 AM
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Good question... price continued to tank
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September 18, 2012, 07:11:31 AM
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Dividend payments have been consistent and on time. Moparguy could be a lot more communicative and do a better job on the contract to improve share price to the point of selling more at the ipo price and growing the company.

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September 18, 2012, 12:39:46 PM
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Good question... price continued to tank

I guess I have understood what's happening. Look at the number of shares paid, it increases rapidly.
Moparguy apparently sells shares at ever-decreasing prices. He uses that money to expand mining, so that the total payout increases in spite of difficulty -but having to split between an ever increasing number of shares, the payout, and thus the price, decreases just about as if this was a mining bond.

Moparguy, please, this should stop now. You are destroying early investor's value; price is already going absurdly low. Selling bonds under IPO price should never happen, in my opinion. Pay upgrades with dividends, reduce them from 2,5% to 1%, even 0,5% if needed -at least it will be a gain, and not a total loss as it is now!
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September 18, 2012, 01:44:49 PM
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as if this was a mining bond.

Wait: if this is not a mining bond, WTF it is?
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September 19, 2012, 10:40:49 AM
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Good question... price continued to tank

I guess I have understood what's happening. Look at the number of shares paid, it increases rapidly.
Moparguy apparently sells shares at ever-decreasing prices. He uses that money to expand mining, so that the total payout increases in spite of difficulty -but having to split between an ever increasing number of shares, the payout, and thus the price, decreases just about as if this was a mining bond.

Moparguy, please, this should stop now. You are destroying early investor's value; price is already going absurdly low. Selling bonds under IPO price should never happen, in my opinion. Pay upgrades with dividends, reduce them from 2,5% to 1%, even 0,5% if needed -at least it will be a gain, and not a total loss as it is now!

Agree! Stop selling below IPO price. You destroying the value of the asset. Pay less dividend rather.
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September 19, 2012, 01:55:27 PM
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as if this was a mining bond.

Wait: if this is not a mining bond, WTF it is?

A mining company, since dividends are tied to total profit and not to a fixed n° of hashes. Am I using the term incorrectly?
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September 19, 2012, 03:55:29 PM
 #47

as if this was a mining bond.

Wait: if this is not a mining bond, WTF it is?

A mining company, since dividends are tied to total profit and not to a fixed n° of hashes. Am I using the term incorrectly?

I think so: the contract says that is a bond (i.e. debt, not shares of property), even if it is at variable rate. Anyway: anyone can confirm that is getting diluited increasing the number of bonds for sale, and how many bonds were added recently?
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September 19, 2012, 04:06:34 PM
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as if this was a mining bond.

Wait: if this is not a mining bond, WTF it is?

A mining company, since dividends are tied to total profit and not to a fixed n° of hashes. Am I using the term incorrectly?

I think so: the contract says that is a bond (i.e. debt, not shares of property), even if it is at variable rate. Anyway: anyone can confirm that is getting diluited increasing the number of bonds for sale, and how many bonds were added recently?

Thanks for correcting me Smiley

What better confirmation can we have than the increase in the number of shares paid each week? Well, he could be just transferring them to his personal account without selling. But then again, how much is he putting into the company in exchange? This should be clarified.
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September 19, 2012, 04:19:18 PM
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anyone can confirm that is getting diluited increasing the number of bonds for sale, and how many bonds were added recently?

What better confirmation can we have than the increase in the number of shares paid each week? Well, he could be just transferring them to his personal account without selling. But then again, how much is he putting into the company in exchange? This should be clarified.

moparguy: please say something.
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September 19, 2012, 04:28:35 PM
 #50

moparguy: please say something.

Never mind: it's all in the dividend payments. Francesco is right on the money:

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September 21, 2012, 09:52:41 AM
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wrote an email to him saying/asking basically teh same. Lets see his answer.


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September 21, 2012, 03:37:21 PM
 #52

Hello all,

Answering emails, etc is taking larger amounts of my time and I am tired of emailed scam accusations. I tried to setup a profitable endeavor for both you and I, but it was easier and more profitable mining alone.I have decided to begin buyback of the shares. I have many great investors, but they are overshadowed by constant emailed personal attacks as being a scammer. I am done dealing with that. I will review the buyback plan so that i can give the most value to shareholders, especially considering the large price declines of late. I don't want anyone to feel cheated. I will release a motion in the next week, so please be watching for it for any upcoming news.

The dividend is halted immediately. Please watch for upcoming motions.

Regards.
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September 21, 2012, 10:03:22 PM
 #53

Hello moparguy528,

concerning:
Quote
The issuer can buy back the bond at any time at a price equal to 1.05 times the average price the asset was traded on GLBSE over the previous 1 week.
Will you buy back at the price equal to 1.05 * the average price of recent last week or the price, the week before you will actually perform the buy back?

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September 21, 2012, 10:06:03 PM
 #54

Will you buy back at the price equal to 1.05 * the average price of recent last week or the price, the week before you will actually perform the buy back?

Don't worry: who bought around 1 BTC is going to get screwed anyway. And if the trend persists even who bought at 0.50.
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September 21, 2012, 10:13:26 PM
 #55

Don't worry: who bought around 1 BTC is going to get screwed anyway. And if the trend persists even who bought at 0.50.
yeah that seems to be for sure - maybe i should also create a fund with some money for high dividends, stopping dividends over night, wait for the price to drop to zero and say thank you for all the money i "earned" - man, that can't be true, firstly pirate and now in a more "legal" way almost the same, even if it is formulated harshyl.

The only way out is to push up the price, so all together cancel your low buying or selling orders, make some high ones, and we will all win - ok i am dreaming Wink - get out!! immediately Wink

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September 22, 2012, 01:32:31 AM
 #56

Well, if OP really buys back, the last share buy is a 5% investment. Won't even this drive the price up?

If OP is acting to decrease price to buy back lower, like by selling new shares now, would this get him a scammer tag?

If there's anyone to complain about it's the buttmonkey who's running a bot on glbse that's pushed down prices on just about every share listed. Whoever it is should be banned from the exchange because he's buying up shares and selling them at a loss to preventing any kind of offering from getting funds.

 Huh
If a bot was able to do THIS it deserves my compliments. And, really, what would someone do that for??
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September 22, 2012, 12:24:05 PM
 #57

Well, if OP really buys back, the last share buy is a 5% investment. Won't even this drive the price up?

Yes, some people aren't being very smart here. moparguy528 is paying a 5% bonus for shares. Anybody that buys now is guaranteed a 5% profit.


no, you only get 5% when you buy at the same or lower price, then the weekly average (next week).
so, moparguy528 didn't bought back directly, but waiting 1 week, he is just waiting for prices to drop.
and he has lowered the price actively in the last days by selling under ipo.
no one gives a guarantee that he wouldn't do that again.

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September 22, 2012, 12:33:21 PM
 #58

He just needs to dump another boatload of shares keeping paying what he wants in dividends (wink, wink) to fix the price around 0.000001 for a week to setup his buyback (but hey: there is a +5%!).

At this point I am tempted to liquidate all my GLBSE shares. It's just a scammers' playground.
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September 22, 2012, 12:53:03 PM
 #59

Isn't stopping paying dividends (thus driving price down) scam? The contract doesn't allow it.

If the 25 there is no buyback and no dividend, I am making an accusation.
I will of course retract if we agree to decent buyback conditions.
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September 22, 2012, 01:13:14 PM
 #60

Isn't stopping paying dividends (thus driving price down) scam? The contract doesn't allow it.

Problem is: diluting the shares means lower dividends. He could push dividends to zero dumping enough shares.
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September 22, 2012, 01:29:40 PM
 #61

Isn't stopping paying dividends (thus driving price down) scam? The contract doesn't allow it.

Problem is: diluting the shares means lower dividends. He could push dividends to zero dumping enough shares.

Wonder if dumping tonloads of shares once the bond has been announced to shutdown qualifies as scam. If it happens, we'll see if it does.

I still hope it won't come to this... after all, even if we assume this was his intention from the beginning, Moparguy can already make a really good (morally bad, whatever Tongue ) profit without completely destroying our value, and his reputation. 

For sure, I'll never again invest in shares that can be issued anytime under IPO price, however good they seem. Guess some lessons have to be learnt the hard way...
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September 22, 2012, 03:01:31 PM
 #62

Hello all,

Answering emails, etc is taking larger amounts of my time and I am tired of emailed scam accusations. ... QQ ... I will review the buyback plan so that i can give the most value to shareholders, especially considering the large price declines of late. I don't want anyone to feel cheated. I will release a motion in the next week, so please be watching for it for any upcoming news.

The dividend is halted immediately.

Sure it is easier and profitable to mine on your own after you have taken everyone's money! Why did you stop paying dividends? The only way you can get out of this without anyone feeling cheated is to sell the equipment that we paid for and return the money.

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September 22, 2012, 07:53:24 PM
 #63

he said "no dividends" - but technically the contract would be broken on the 24th of Sep.

EDITED: Here I discussed possible buyback, but I will wait untill things settle before I post more . /EDITED

Moparguy told me he wants to delist the asset and get out of being a glbse manager - cause its too much work for him...

He also wrote in an email today he wants to do all this in a fair way for everybody...


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September 22, 2012, 07:58:04 PM
 #64

Quote
The only way you can get out of this without anyone feeling cheated is to sell the equipment that we paid for and return the money.

Isnt that the same as "buyback at the price each of us bought ?"

In effect the two are both "return my money back."

Someone more GLBSE-savvy to propose the best way to avoid cheats about who bought what at what price...

I used my glbse CSV export file and filtered it for FPGAMINING to generate a report about my holdings:

in linux shell its:

cat account_history.csv | grep FPGAMINING | grep "^buy"





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September 22, 2012, 07:58:59 PM
 #65

or you can copy paste the lines from the glbse https://glbse.com/portfolio page...

Or provide a screenshot...

Is there a better way to prove that via GLBSE ?

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September 22, 2012, 08:48:31 PM
 #66

The dividend is halted immediately. Please watch for upcoming motions.

Regarding your casual style of managing this asset, I just contacted Nefario, who advised me to inform you that GLBSE changed its default policy on scams (from doxing) to prosecuting.
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September 22, 2012, 08:59:50 PM
 #67

The dividend is halted immediately. Please watch for upcoming motions.

Regarding your casual style of managing this asset, I just contacted Nefario, who advised me to inform you that GLBSE changed its default policy on scams (from doxing) to prosecuting.

That is the problem... a casual management style. A lack of communication from the issuer regarding selling of shares at an unreasonably low price is a serious red flag. No wonder you got emails moparguy. 

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September 23, 2012, 09:28:13 AM
 #68

"That is the problem... a casual management style. A lack of communication from the issuer regarding selling of shares at an unreasonably low price is a serious red flag. No wonder you got emails moparguy. "

+1 - agree 100%

Audrux asked me via PM if I am moparguy's defence agent...

I answered "no - trying to find the truth and be objective and non-emotional"

FAQ and a status report below.

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September 23, 2012, 10:13:22 AM
 #69

So here is a little FAQ about FPGAMINING :

(

Disclosure - I own 60 shares bought @ 0.83  (out of 3915 sold so far to investors).

So I prefer it all goes well with this stock - like all of us.

)

Pic of the operation:



Is it a bond or a stock? What is the Contract ?

- It pays dividends based on mined coins each week. So this makes it a stock technically.
No fixed % rate promised in contract on glbse.

It just so happens/happened that the initial dividend per week was ~ 3.5 - 3.7 % of the initial price of around 1 btc/share. Which makes it look like a fixed % mining bond...

Most mining operations are bonds and since the word bond is used unproperly in the Contract ( owner has done a mistake in the wording of the contract... ) -

Here I quote the contract:
"
Full contract:
This bond is a for share in a very large FPGA (high efficiency) mining operation. Bond holders will receive weekly coupon payments of the total BTCs mined by the pool less energy and administrative costs (both minimal due to using ONLY low energy use FPGAs procured in bulk at significant discount). Coupon payments will be made Monday for the previous 7 days of mining activity. The coupons will grow as the FPGA cluster is increased in size. The initial clusters are running and significant size/space improvements will occur concurrently. The issuer can buy back the bond at any time at a price equal to 1.05 times the average price the asset was traded on GLBSE over the previous 1 week.
Issuer reserves the right to upgrade to ASICs in lieu of FPGA clusters as economics warrant.
"

- Do you see a fixed % rate in the Contract? No.
- Do you see the word bond in there ? Yes....
- Is it bound to a specific MHash/s ? No



Keep reading.

How are dividends calculated ?

Quite from an email 5 days ago with more details:

"
From: moparguy email

To: intel's email

Message:

Sorry about my slow response....I work a 9-5 so have limited time for emailing.

Yes I am still mining. If you check out the bitcointalk.org posting you can see pictures of my FPGA mining rigs.

The dividends are calculated based on that week's BTC output of the percent of my mining operation that has been sold via shares. I setup my own operation before doing the GLBSE listing, and as of yet, the bulk of the operation is still fully owned by me and not paying dividends to anyone  but me. As I sell shares, more of my operation becomes owned by shareholders, and they will receive dividends based on that portion. The portion of the operation that is paying dividends on GLBSE is approx 80x FPGA Mining brand x6500 dual fpga miners (160 total Xilinx Spartan 6 processors).

I don't want the shares to drop, but some have been selling at very low prices.....
"




2. Why has the dividend dropped a bit recently ?

- 1st a reduction from ~ 3.5% to ~ 2.5% was voted in a motion to allocate funds for an upgrade

- 2nd we have this :

- the dividends paid last 3 times are:

2012-09-03 00:05   77.8433383   3094   0.02515945
2012-09-10 10:15   79.94562932   3548   0.02253259
2012-09-17 12:21   79.1999802   3915   0.02022988

And the difficulty was

http://bitcoin.sipa.be/speed-lin-10k.png

in that period.

So what is the reason for the dividend drop on 09-17 vs 09-10 ? The diff is the same.

Owner said this via email:

"To answer your email on 8/19- I utilize pools that use DGM payout most of the time, so the payout isn't as stable as PPS pools, but with lower fees and eventually higher payouts. So deviation is expected with DGM."


This DGM payout and the difficulty increase should explain the dividends fluctuations and the decrease:


Payment date |   Total paid |    Shares paid |   Payment per share
2012-07-12 22:22   6.13577956   164   0.03741329
2012-07-16 07:16   16.77135975   435   0.03855485
2012-07-23 01:02   61.99999669   1633   0.03796693
2012-07-30 00:01   131.7347848   4040   0.03260762
2012-08-06 01:49   153.7775064   5040   0.03051141
2012-08-13 00:02   42.6327102   1230   0.03466074
2012-08-20 11:04   61.1753128   1645   0.03718864
2012-08-27 11:26   73.27188698   2671   0.02743238
2012-09-03 00:05   77.8433383   3094   0.02515945
2012-09-10 10:15   79.94562932   3548   0.02253259
2012-09-17 12:21   79.1999802   3915   0.02022988




Why is the shares paid going up recently ? Is he dilluting the price on purpose ?

- Most probably not deliberately to drop the price.

- But - the owner has sold some to new investrs obviously . But why is he doing this on a falling price ? Needs answer.

- Why isnt the owner keeping the stock for himself to force people's money to  chase the current stock in circulation?  - thus the price would stay stable / rise... and we wouldnt have to argue and lose time thinking...

How reputable is moparguy?

Pros:

- He is fully verified with GLBSE:
(green tick on these : )
    Phone number:         Photo I.D:   
   Home address:         
   Email address:         


- He answers all emails not later than 2 days (at least intel's emails)

- The tone in the emails is calm and shows he cares.

- Posted photos of the mining operation.

- said he mines at ozcoin - at the time he said that - checked - it is so. Later I checked and his username was no more in the lsit. But he says he does anonymous mining and uses several pools - probably p2pool also..  So its ok he is off ozcoin ... just needed an answer..

- ( this one is a pro and a con ) He said in an email 2 days ago:

"To answer your email on 9/21-I didn't realize scam accusations were flying around. "





- Cons:

- he does not check the forum thread often enough... -  does not have the time needed to answer all the investor questions..




What will happen now ?

Possible scenarios:

- No buyback:

- Confidence eventually comes back up - if he keeps paying dividend and we see a stable number of "Shares paid" from now on (means he does not sell more shares in the future... at least for a while... ). Thus the dividend paid to share price ratio will be good enough to attract investors money...


- A  buyback/partial-buyback happens at a "fair" price - a price between the current and the historic average of .80

- A buyback/partial-buyback happens as per contract "last_week_avg + 5%"


Owner wrote in last email he is having all the best intentions and is thinking about how to come out of this situation...

His way of thinking currently is that the whole operation takes too much of his time to manage. He has a 9-5 job.

So he is seeking a way to stop the scam-accusation emails and hatred... Still he expressed that he wants this whole thing to turn out as fair to everybody as possible...



PS. Open for criticism and questions - my logic could be flawed somewhere...  Tell me if so.


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September 23, 2012, 01:39:43 PM
 #70

Sarcasm from moparguy528: "I have a day job, I have not enough energy after my job to deal with my investors, thank you for investing in me 3000BTC (30 000$), I will take care of it, and I will not share any information how I am going to use this investment, Now its MY money. (aaaaaaaaand it's gone!) How dare you to accuse me of scamming? Don't you understand I have other things to do in my life than to respond to your valid concerns about your investments with me? Ok, I am tired of you, I'll stop paying dividends immediately, I'll dip the price further in order to perform buyback with lower price!!! Ha ha ha.... But at the end it's all your fault you investors!!!"

The biggest problem to his mining operation is transparency. At the beginning he was quite clear what he was doing, he created decent image of his mining operation, in this way he attracted pretty high investments, because he seemed to be legit.

1. first of all, he did not respond to valid investors concerns.
2. he issued more shares to decreasing market price.
3. he said he will stop paying dividends, even without talking to investors or raising new motion about it.

The third clause is most important and most damaging. Explanation of all those 3 point is necessary in order to judge FPGAMINING operation.
If moparguy528 performs buyback at the last price traded on GLBSE during the last 7 days, it will meet conditions written in the contract. However it is not possible to be the case, because moparguy528 has already stated that he stopped paying dividends, that is breaching contract terms, and manipulating the price to get to more favorable buyback price.

What are the solutions? Perhaps stop the FPGAMINING GLBSE market activity, payback all the funds he collected during IPO minus all the dividends paid? In order to do that he has to disclose all the financial info about FPGAMINING.

I cannot propose anything rational yet, because I don't know what is going on behind the scenes, the only person who knows is moparguy528 and he has to step in this discussion, he has to explain everything. But he must step in now, not to wait for missing dividends payments or whatever prosecution is going to take place.

Some more thoughts...

ASICs manufacturing companies are going forward with it's hardware development, other competitor stepped in ASICs market.

Is moparguy528 capable of managing FPGAMINING operation any longer?
Is he able to compete with rising difficulty?
Is he able to manage investors funds effectively? Acquire most effective hardware and in a proper timing manner?
Is he able to carry good communication and relationship with his investors?
Is he able to maintain trust and confidence?
Does he have enough time, will and competence to do that?

We cannot solve problems by using the same kind of thinking we used when we created them.
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September 23, 2012, 01:48:16 PM
 #71

I was offered a buy back of shares at the price I bought them. If we come up with some clean and efficient way to arrange this kind of buyback for all shares.. it would be great.

Who offered? Moparguy or someone else?

Anyway, I'm fine if I get back the price I payed for the shares. Below is an excerpt from my GLBSE .csv-file.

Code:
buy 18.9.2012 11:18 0.5979 FPGAMINING 2
buy 4.9.2012 16:40 0.7299 FPGAMINING 1
buy 31.7.2012 12:52 0.9 FPGAMINING 1
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September 23, 2012, 02:40:56 PM
 #72

"

"Quote from: intel-core-i7 on Sep 22, 2012, 22:53:24
I was offered a buy back of shares at the price I bought them. If we come up with some clean and efficient way to arrange this kind of buyback for all shares.. it would be great.

Who offered? Moparguy or someone else?"
"


Well to be clear - he ( moparguy )  merely asked me

asked me

how many do I have and at what price. He said he is trying to figure out the relatively big investors.

So I suppose he is now thinking and  when he is ready with a buy back proposal - he will post here.

Everybody would be glad to be bought back at the price they entered right ? Smiley

I dont know if thats gonna happen. But I hope for the best... Many scenarios are possible.

We just have to act honestly and be fair.


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September 23, 2012, 02:42:48 PM
 #73

"
buy   18.9.2012 11:18   0.5979   FPGAMINING   2
buy   4.9.2012 16:40   0.7299   FPGAMINING   1
buy   31.7.2012 12:52   0.9   FPGAMINING   1

"

4 shares haha Smiley

we're talkin' bout 3000 btc in total share value Smiley


4 shares.... Smiley

And still - what's ours is ours - no matter how small.



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September 23, 2012, 03:19:43 PM
 #74

And still - what's ours is ours - no matter how small.

Exactly.

I'm quite sure he wouldn't have succeeded to pull the whole 3000 BTC from one or even three investors alone because that kind of money makes anyone carefull, but when taking one BTC there and 5 there it's easier. Also, people who happen to own 3000 BTC would have read his original contract more carefully.
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September 23, 2012, 05:15:39 PM
 #75

Really, the only decent thing for moparguy to do is to take responsibility for his decision and take a big loss on this. He set up a business and now he want to get out. That's fine, but he must bear the full burden of his decision, not his investors. He must not take advantage of his investors and their trust.

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September 24, 2012, 06:28:58 AM
 #76

 Angry
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September 24, 2012, 11:43:00 AM
 #77

Really, the only decent thing for moparguy to do is to take responsibility for his decision and take a big loss on this. He set up a business and now he want to get out. That's fine, but he must bear the full burden of his decision, not his investors. He must not take advantage of his investors and their trust.

The point is he doesn't need to take a big loss, if he wasn't scamming -if he indeed was making enough profit and could have succesfully continued the operation, he can settle this down with benefit for all, including hmself!
If not, scammer tag here and freezing of his assets on GLBSE.
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September 24, 2012, 08:02:24 PM
 #78

Quote
Effective as of midnight September 25th, 2012: Due to the closing of this bond the interest as spelled out in the contract is null and void. Until all shares are bought back by the issuer, interest in the amout of 1% of the remaining outstanding shares, at a par value of 0.8BTC per share, per month will be paid at the end of each month. Once all shares are bought back by the issuer via the market or share buyback process, no further interest will be paid. Any further information will be released via future motions.
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September 24, 2012, 08:23:03 PM
 #79

Quote
Effective as of midnight September 25th, 2012: Due to the closing of this bond the interest as spelled out in the contract is null and void. Until all shares are bought back by the issuer, interest in the amout of 1% of the remaining outstanding shares, at a par value of 0.8BTC per share, per month will be paid at the end of each month. Once all shares are bought back by the issuer via the market or share buyback process, no further interest will be paid. Any further information will be released via future motions.

Is this from Moparguy? If so, why are you posting for him?
Anyway please tell him that an unspecified number of "months" to pay back investors is unacceptable. Where did he put our monies? If he invested them he must liquidate a.s.a.p., otherwise he is a scammer all around.
And where did he pull that number out from? I want to see his accounting.
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September 24, 2012, 08:44:54 PM
 #80

Is this from Moparguy? If so, why are you posting for him?
Anyway please tell him that an unspecified number of "months" to pay back investors is unacceptable. Where did he put our monies? If he invested them he must liquidate a.s.a.p., otherwise he is a scammer all around.
And where did he pull that number out from? I want want to see his accounting.

I posted this since Moparguy didn't wrote it here, and found it important to know to the shareholders.




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September 24, 2012, 09:22:06 PM
 #81

it is written on a new motion on glbse now.

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September 25, 2012, 07:30:08 AM
 #82

1.
So how will this work? Should we sell our shares? If so, at what price?

2.
"The issuer can buy back the bond at any time at a price equal to 1.05 times the average price the asset was traded on GLBSE over the previous 1 week. "

The price is dropping fast now. If he waits another month, he can just pay 0.30 for each share and make a huge profit. I don't think that would be fair, as it is his own fault the price is this low.

3.
"Until all shares are bought back by the issuer, interest in the amout of 1% of the remaining outstanding shares, at a par value of 0.8BTC per share, per month will be paid at the end of each month."

Is he allowed to do this? Shouldn't he just pay 2,5% as long as there are remaining shares, even if/when he is shutting down?

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September 25, 2012, 10:51:42 AM
 #83

1.
So how will this work? Should we sell our shares? If so, at what price?

2.
"The issuer can buy back the bond at any time at a price equal to 1.05 times the average price the asset was traded on GLBSE over the previous 1 week. "

The price is dropping fast now. If he waits another month, he can just pay 0.30 for each share and make a huge profit. I don't think that would be fair, as it is his own fault the price is this low.

3.
"Until all shares are bought back by the issuer, interest in the amout of 1% of the remaining outstanding shares, at a par value of 0.8BTC per share, per month will be paid at the end of each month."

Is he allowed to do this? Shouldn't he just pay 2,5% as long as there are remaining shares, even if/when he is shutting down?

Very, very poor communication. Does he despise us, or something?

Anyway, I don't really understand where 2.5% or 3.5% come from in the first place: the contract says
 
Quote
This bond is a for share in a very large FPGA (high efficiency) mining operation. Bond holders will receive weekly coupon payments of the total BTCs mined by the pool less energy and administrative costs [...]. Coupon payments will be made Monday for the previous 7 days of mining activity.

so if he's liquidating and has stopped mining, it makes sense not to have dividends anymore, and it's a pure act of goodwill to still pay 1% a month.

On the other hand, we should have at least a rough idea on when we can have our shares bought back -otherwise, he's just stalling.
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September 25, 2012, 01:36:32 PM
 #84

Why is he making these motions when there is nothing to vote for? He has already made decisions and uses motions only to announce them.  Huh  Angry
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September 25, 2012, 07:39:51 PM
 #85

It seems he is not liquidating but using the mining equipment to pay back a loan @ 80% of ipo price (plus dividends already paid).

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September 25, 2012, 08:06:52 PM
 #86

I am slowly buying shares back from mining profits and from my own cash I am buying bitcoins with. I am not trying to cheat anyone, I just can't buy them all at once. For those that I can't buy immediately, I am treating it as a loan,paying interest, until all can be paid back. This is more cost effective than liquidating the FPGAs I have.

Also, although the IPO was at 1.0, very very few were sold at that level. I am one of the few people that invested at that price level via my investment acct. Most shares were bought initially between 0.75-0.83. They may have traded less than that though.

Slowly but surely i am paying back.

I am not a Pirateat40.
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September 25, 2012, 08:24:40 PM
 #87

I am slowly buying shares back from mining profits and from my own cash I am buying bitcoins with. I am not trying to cheat anyone, I just can't buy them all at once. For those that I can't buy immediately, I am treating it as a loan,paying interest, until all can be paid back. This is more cost effective than liquidating the FPGAs I have.

Also, although the IPO was at 1.0, very very few were sold at that level. I am one of the few people that invested at that price level via my investment acct. Most shares were bought initially between 0.75-0.83. They may have traded less than that though.

Slowly but surely i am paying back.

I am not a Pirateat40.

1. What is the priority of buying back shares?
2. Do you buy directly from the GLBSE market? And what is your target price for buyback?
3. Where did you place invested capital from FPGAMINING investors (around 0.8*3900= 3120BTC)? If you invested it, shouldn't you liquidate it?
4. How long do think buyback process will take?
5. Should we make a list of investors who got paid for their shares?

EDIT:

6. Could you explain more clearly the procedure of paying interest? Are you aware of current interest rate on BTC loans?


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September 25, 2012, 09:18:47 PM
 #88

I am slowly buying shares back from mining profits and from my own cash I am buying bitcoins with. I am not trying to cheat anyone, I just can't buy them all at once. For those that I can't buy immediately, I am treating it as a loan,paying interest, until all can be paid back. This is more cost effective than liquidating the FPGAs I have.

...I'd be very surprised if it wasn't more cost effective for you to keep the hardware bought with our money and decide we are to give you a fairly low interest and indefinitly long term loan. But how about using that motion feature for what it was intended for once, and check wether it is ok for us too?

(disclaimer: I'd probably vote yes, provided you first lay a more detailed repayment plan. Answering Audriux9's questions, at least 2 and 4, might be a good start)
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September 25, 2012, 10:23:39 PM
 #89

...I'd be very surprised if it wasn't more cost effective for you to keep the hardware bought with our money and decide we are to give you a fairly low interest and indefinitly long term loan. But how about using that motion feature for what it was intended for once, and check wether it is ok for us too?
(disclaimer: I'd probably vote yes, provided you first lay a more detailed repayment plan. Answering Audriux9's questions, at least 2 and 4, might be a good start)


First of all investors would like to know full disclosure of what hardware has been bought with investors funds and mining profits, which were not distributed to investors. If I recall correctly, moparguy528 stated that, he had some of his own hardware before raising funds.

Moreover liquidity of moparguy528 seems a bit questionable at this point of a time. He is going to repay from his own cash Huh and mining profits. Assuming he has 70Ghash/s of mining hardware that gives us very roughly 1400BTC until reward halves, and then probably ASICs will take over the market so payout of those 70Ghash/s will diminish to roughly around 40btc per month. To cover all of the ~3000BTC will require pretty large amount of additional personal funds. Long time awaits for unlucky investors to be paid.

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September 25, 2012, 10:48:45 PM
 #90

Who are you to say all investors? Please don't include me in that statement.

Sorry, missed comma Embarrassed, beginning of my post should look like that:

First of all, investors...

Or did I misunderstand what you meant?

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September 26, 2012, 12:42:36 AM
 #91

No, I chose to misunderstand you because your claiming to speak for investors, I'm an investor and I'm damn sure your not speaking for me. I'm not happy with the situation either but if I'd been in moparguy's shoes I'd have told everyone to get screwed after the BS he's been receiving. Currently there are 2 other threads for GLBSE investments that contain exactly the same BS for exactly the same reason, someone running a bot on GLBSE has dropped the prices of many assets and the asset issuers are being targeted with scam accusations because of this. FPGAMINING paid a very good dividend which has since dropped to a good dividend and now, because of the scam accusations, it wont be paying anything so it's not moparguy I'm pissed off with.

I maintain communication with several big investors of FPGAMINING, also with member intel-core-i7, who was the only one contacted personally by moparguy528 after turbulence started. However I have no intention at all to speak for investors. I am only asking logical questions in order to provide more considerations for discussion in this thread and possibly to find rational solutions or at least rational suggestions to current problems.

Let me ask you several questions.
1. What do you call BS here? Who is BS'ting and how?
2. "Someone running a bot on GLBSE has dropped prices of many assets" Do you know any smart explanation why would anyone run a bot at a loss in order to drop prices? In which way could that be done without incurring losses? (Many assets lost its value, but there were reasons for that, e.g. permanent difficulty growth, late due diligence, ASICs -  knocking mining market doors and others)

However very few assets dropped significantly like FPGAMINING (e.g. OBSI.HRPT price halved because of heavily reduced dividends).

According to this:
Also, although the IPO was at 1.0, very very few were sold at that level. I am one of the few people that invested at that price level via my investment acct. Most shares were bought initially between 0.75-0.83. They may have traded less than that though.

One could assume that price downward pressure from steady levels was partially caused  by moparguy528 issuing new shares at 0.75-0.83 levels.

3. If you look at some of the biggest operators like Gigavps, they have received much more harsh accusations, and they handled it properly, without terminating dividend payments and suspending mining operation. Why would someone have to cancel contract and stop paying dividends because of scam accusations?

4. What do you think about transparency of FPGAMINING operation? How do you measure uncertainty and suspicious activity, and how do you incorporate that into risk by managing your investment?

5. Are investors allowed to ask/know information about their investment? Don't you think if moparguy528 answered those questions in time, no panic would have incurred with FPGAMINING?



p.s. Disclaimer: Personally, I am not accusing anyone scamming or defrauding, I am just discussing in this PUBLIC thread in order to know more about current situation and/or to discover optimal solution to FPGAMINING future. In addition, I do not intend to be offensive and do not wish confront offensive responses from others, without logical reasoning.

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September 26, 2012, 07:50:13 AM
 #92

Most shares were bought initially between 0.75-0.83

Is this true? I currently own 68 shares, with an average price of 0.87 per share.
But if you are willing to buy them for .83, it's ok for me.

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September 26, 2012, 09:46:44 AM
 #93

I wonder if the "shares paid" rising was actually caused by moparguy buying with his own glbse account ?

Takin from one pocket and putting into the other.... but moving the number of shares in circulation up...

That would not move the price if done fast and nobody seees the blip... in teh oredr book.

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September 26, 2012, 11:16:17 AM
 #94

I'm an investor

You are just a sock puppet, and failing at it.

I'd been in moparguy's shoes I'd have told everyone to get screwed after the BS he's been receiving.

Then you must never have been involved in any business, and you should continue to do so.
You cannot just take people's money and run. That is called theft, and that is what I am now going to call in scam accusations.

[B/S] FPGAMINING paid a very good dividend which has since dropped to a good dividend and now, because of the scam accusations, it wont be paying anything so it's not moparguy I'm pissed off with.

So because someone accused him to be a scammer, he felt obliged to prove that the accusation is true?!
Strange logic. Tell that to the Bitcoin police.
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September 26, 2012, 03:06:03 PM
 #95

I just opened a scam accusation thread here:
https://bitcointalk.org/index.php?topic=112969.0

Anyone interested is invited to participate.
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September 26, 2012, 09:48:21 PM
 #96

Someone just bought shares up to ~0.49. Moparguy, is that you?
So you are buying back  at market price, with your personal account (since "number of traded shares" is still 4113)?

If this is the case, I advise everyone to put asks only at 0.8BTC.
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September 26, 2012, 11:46:06 PM
 #97

If this is the case, I advise everyone to put asks only at 0.8BTC.
so why not

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September 27, 2012, 01:27:58 AM
 #98

Someone just bought shares up to ~0.49. Moparguy, is that you?
So you are buying back  at market price, with your personal account (since "number of traded shares" is still 4113)?

If this is the case, I advise everyone to put asks only at 0.8BTC.

73 shares were bought to the ask wall during the last 24h as I write, actually during the last 8 hours. Before that shares were sold to the bid wall (somebody lost faith for buyback).

what do you mean Francesco by saying "since number of traded shares is still 4113"? When did you check that number last time (despite recent days)?


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September 27, 2012, 08:52:16 AM
 #99

Someone just bought shares up to ~0.49. Moparguy, is that you?
So you are buying back  at market price, with your personal account (since "number of traded shares" is still 4113)?

If this is the case, I advise everyone to put asks only at 0.8BTC.

73 shares were bought to the ask wall during the last 24h as I write, actually during the last 8 hours. Before that shares were sold to the bid wall (somebody lost faith for buyback).

what do you mean Francesco by saying "since number of traded shares is still 4113"? When did you check that number last time (despite recent days)?



I had checked some hours before.
(still 4113 now)
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September 27, 2012, 09:07:02 AM
 #100

...I'd be very surprised if it wasn't more cost effective for you to keep the hardware bought with our money and decide we are to give you a fairly low interest and indefinitly long term loan. But how about using that motion feature for what it was intended for once, and check wether it is ok for us too?
(disclaimer: I'd probably vote yes, provided you first lay a more detailed repayment plan. Answering Audriux9's questions, at least 2 and 4, might be a good start)


First of all investors would like to know full disclosure of what hardware has been bought with investors funds and mining profits, which were not distributed to investors. If I recall correctly, moparguy528 stated that, he had some of his own hardware before raising funds.

Moreover liquidity of moparguy528 seems a bit questionable at this point of a time. He is going to repay from his own cash Huh and mining profits. Assuming he has 70Ghash/s of mining hardware that gives us very roughly 1400BTC until reward halves, and then probably ASICs will take over the market so payout of those 70Ghash/s will diminish to roughly around 40btc per month. To cover all of the ~3000BTC will require pretty large amount of additional personal funds. Long time awaits for unlucky investors to be paid.

apparently stan.distortion's trolling was successful in taking the attention away from this.

But it seems we don't have to worry, since... well, if he's buying back at under 0.5, the total could be much less than 3000; so he might do it in reasonable time. It sure makes sense from his point of view. Not much from ours...
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September 28, 2012, 12:47:10 PM
 #101

Trolling? Stating the bloody obvious might well be considered trolling on a forum where it's a race to be the first with a plausible scam accusation for any asset. Getting called a sockpuppet by a guy who didn't know about motions is kind of funny to, guess his WoW trading experience qualifies him to launch scam accusations.

As to the well laid out list of questions earlier, had a very busy week but will reply to them in detail later. In brief the ASICMINER thread has the most intelligent discussion I've seen about why the prices on GLBSE are being pushed down and the BAKEWELL asset is one example of shares being offered below the IPO price when, as far as I know, the only shares sold have been at IPO price.


you mean this post and the rest afterwards...

https://bitcointalk.org/index.php?topic=99497.msg1214984#msg1214984


never thought about that - in brief  - price might be dropping for a OK-asset if a scammer is buying it (or acquiring via share swaps) and then selling the good share for btc to go out and run....


Makes perfect sense and the real scammers wash their hands while fucking legit issuers... and their investors....

We need a defense against this ....

Probably assets with good PR and in-time news from the issuer will be immune to these dumps and it will be actually cheap entry points for trusting investors...

After all if the scammer is dumping low - its good for us when the asset is trustworthy....

got it ?



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September 28, 2012, 01:02:45 PM
 #102

We need a defense against this ....

First of all we need a defense against assets issuers who run with their investors' money breaching their contracts.
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September 28, 2012, 03:35:01 PM
 #103

Trolling? Stating the bloody obvious might well be considered trolling on a forum where it's a race to be the first with a plausible scam accusation for any asset. Getting called a sockpuppet by a guy who didn't know about motions is kind of funny to, guess his WoW trading experience qualifies him to launch scam accusations.

As to the well laid out list of questions earlier, had a very busy week but will reply to them in detail later. In brief the ASICMINER thread has the most intelligent discussion I've seen about why the prices on GLBSE are being pushed down and the BAKEWELL asset is one example of shares being offered below the IPO price when, as far as I know, the only shares sold have been at IPO price.


you mean this post and the rest afterwards...

https://bitcointalk.org/index.php?topic=99497.msg1214984#msg1214984


never thought about that - in brief  - price might be dropping for a OK-asset if a scammer is buying it (or acquiring via share swaps) and then selling the good share for btc to go out and run....


Makes perfect sense and the real scammers wash their hands while fucking legit issuers... and their investors....

We need a defense against this ....

Probably assets with good PR and in-time news from the issuer will be immune to these dumps and it will be actually cheap entry points for trusting investors...

After all if the scammer is dumping low - its good for us when the asset is trustworthy....

got it ?




I just don't understand -are you suggesting a scammer might want to "wash" his profits by buying and selling shares? The BTC you withdraw at the end will be exactly the same random coins from the GLBSE portfolio.

Besides, we can clearly see the number of shares increasing week after week, so we know he was selling more shares, and he admitted having sold them at an average price about 0.8BTC, which means the latest were much lower...so searching for an explaination involving OBSI.HRPT is kinda like argiung a man could have died of heart attack when ther's a knife struck into his heart!
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September 28, 2012, 04:28:02 PM
 #104

Could we move this thread to securities somehow?

For me this is hurting way worse than Pirate : (
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September 29, 2012, 12:26:28 AM
 #105

https://glbse.com/api/quantity_trading/FPGAMINING

I've just checked it again, amount of shares trading declined to 4063 from 4113. Did moparguy528 liquidate 50shares?

P.S. 20hours ago someone bought ~170shares to the ask side again, price went up from 0.45 till 0.5. Does that look like a buyback?  Huh

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September 29, 2012, 01:21:39 PM
 #106

buyback?  no way!

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September 29, 2012, 07:14:15 PM
 #107

It's simple. Some people want to sell now, so they sell for 0.5 BTC, and some people are willing to wait, so they buy those shares cheap and make a nice profit in the end.

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September 29, 2012, 07:16:28 PM
 #108

It's simple. Some people want to sell now, so they sell for 0.5 BTC, and some people are willing to wait, so they buy those shares cheap and make a nice profit in the end.

Where does the nice profit come from for those people who are buying?

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September 29, 2012, 07:52:08 PM
 #109

It's simple. Some people want to sell now, so they sell for 0.5 BTC, and some people are willing to wait, so they buy those shares cheap and make a nice profit in the end.

Where does the nice profit come from for those people who are buying?

When moparguy buys them back over time.

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September 29, 2012, 08:34:57 PM
 #110

It's simple. Some people want to sell now, so they sell for 0.5 BTC, and some people are willing to wait, so they buy those shares cheap and make a nice profit in the end.

Where does the nice profit come from for those people who are buying?

When moparguy buys them back over time.

Yes, the same day that the cows get back in the barn.
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September 29, 2012, 09:17:29 PM
 #111

Yes, the same day that the cows get back in the barn.

+1

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September 29, 2012, 10:24:12 PM
 #112

Yes, the same day that the cows get back in the barn.

+1

If you don't think he will come through, then dump your shares (if you even own any) and move on. Otherwise, you are just trolling. You have nothing to contribute. Go away.

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September 29, 2012, 10:28:58 PM
 #113

P.S. 20hours ago someone bought ~170shares to the ask side again, price went up from 0.45 till 0.5. Does that look like a buyback?  Huh

No, it looks like usagi is buying with the sole intent to push up the price to keep the NAV of his BMF fund from collapsing:
https://bitcointalk.org/index.php?topic=113708.msg1231722#msg1231722

Id say, take the opportunity with both hands.
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September 30, 2012, 08:49:11 AM
 #114

Yes, the same day that the cows get back in the barn.

+1

If you don't think he will come through, then dump your shares (if you even own any) and move on. Otherwise, you are just trolling. You have nothing to contribute. Go away.


moparguy is breaching the contract in any way from several weeks and you are trolling in his favor?! But you are probably right about dumping, even if it now means a 50-60% loss, thanks to the honesty of the scammer who sold us his crap.
Now you can go away. I will stay here until I get my money back.
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September 30, 2012, 11:59:08 PM
 #115

Yes, the same day that the cows get back in the barn.

+1

If you don't think he will come through, then dump your shares (if you even own any) and move on. Otherwise, you are just trolling. You have nothing to contribute. Go away.


moparguy is breaching the contract in any way from several weeks and you are trolling in his favor?! But you are probably right about dumping, even if it now means a 50-60% loss, thanks to the honesty of the scammer who sold us his crap.
Now you can go away. I will stay here until I get my money back.
That doesn't make sense. You previously wrote that you don't expect to get your money back. Now you write that you are waiting to get your money back.

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October 01, 2012, 01:33:09 AM
 #116

anyone else receive a dividend payment today?

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October 01, 2012, 01:48:37 AM
 #117

anyone else receive a dividend payment today?

It seems like a promised 1% interest on a principal share value of 0.8 BTC. Unfortunately, it is going to be on a monthly basis.

However I am not sure if it is a fair price for forced borrowing of BTC from investors...

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October 01, 2012, 10:05:21 AM
 #118

That doesn't make sense. You previously wrote that you don't expect to get your money back. Now you write that you are waiting to get your money back.

I don't expect to get my money back unless I raise a hell here and elsewhere, since we are dealing with a phucking thieve.
Clear, genius?
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October 01, 2012, 12:44:51 PM
 #119

So, it seems he is abiding the terms of the second contract he made. Will it be the last, or will he change again to whatever he likes, without asking us? (what about a -7% a week? I guess we would be repaid in full soon then!)


I don't expect to get my money back unless I raise a hell here and elsewhere, since we are dealing with a phucking thieve.
Clear, genius?

Is there something we can really do? He ignored the scam accusation and seemingly he was completely right in doing so, since it was apparently also ignored by the ones that should take action...
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October 01, 2012, 03:17:08 PM
 #120

Is there something we can really do?

I mailed both Nefario and support@glbse.com. Nefario did not answer, and Support@glbse opened a ticket 2 days ago, but its status is still "Awaiting assignment to a help desk operator".
In my ticket I resumed the facts and requested "to freeze the asset and/or release the identity of the issuer and/or take any other action you deem appropriate."
Maybe if someone else open a ticket too they will wake up.
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October 01, 2012, 07:46:20 PM
 #121

Is there something we can really do?

I mailed both Nefario and support@glbse.com. Nefario did not answer, and Support@glbse opened a ticket 2 days ago, but its status is still "Awaiting assignment to a help desk operator".
In my ticket I resumed the facts and requested "to freeze the asset and/or release the identity of the issuer and/or take any other action you deem appropriate."
Maybe if someone else open a ticket too they will wake up.

I don't think that is necessary as we will get back out BTC.. but it will take time.

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October 01, 2012, 07:58:07 PM
 #122

Let your voice be heard with this poll:
Should moparguy528 be tagged as scammer?
https://bitcointalk.org/index.php?topic=114681.0
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October 03, 2012, 08:50:17 PM
 #123

moparguy528: Ain't it time to update your first post here?

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October 05, 2012, 04:39:31 PM
 #124

Thanks for moving this from the newbie thread someone!
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October 05, 2012, 09:47:11 PM
 #125

Thanks for moving this from the newbie thread someone!

That's very good!

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October 06, 2012, 09:30:50 AM
 #126

GLBSE is closed. What now?

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October 06, 2012, 09:32:40 AM
 #127

GLBSE is closed. What now?

forget about your coins and move on
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October 06, 2012, 09:39:01 AM
 #128

GLBSE is closed. What now?

forget about your coins and move on
It's not GLBSE who has our coins. It's moparguy. So he should come up with some way to pay us back...

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October 06, 2012, 09:46:32 AM
 #129

GLBSE is closed. What now?

forget about your coins and move on
It's not GLBSE who has our coins. It's moparguy. So he should come up with some way to pay us back...

Pipe dreams.
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October 06, 2012, 12:14:40 PM
 #130

GLBSE is closed. What now?

Now this was not good news =( I hope all investors at GLBSE gets their bitcoins back.

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October 11, 2012, 11:25:29 PM
 #131

We can login at glbse.com now and "claim" our BTC and assets...

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October 12, 2012, 04:22:49 AM
 #132

We can login at glbse.com now and "claim" our BTC and assets...
Lets see if this results in anything...  Roll Eyes
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October 15, 2012, 10:38:04 AM
 #133

hmm... no word from moparguy528 in a long time, this isn't good =(

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October 15, 2012, 10:43:49 AM
 #134

Yes, I have got 90% of my BTC back.

No, the owner of this thread is probably a scammer.
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October 19, 2012, 09:41:49 PM
 #135

moparguy was verified on glbse. I wonder if it would be possible to get that data so that we can open a line of communication directly with him.  Would anyone here be able to do that?
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October 20, 2012, 08:22:24 AM
 #136

Yes, I have got 90% of my BTC back.

No, the owner of this thread is probably a scammer.

I got my 90% back aswell... but that was not much as I have all my BTC invested in shares.

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October 21, 2012, 02:46:11 AM
 #137

moparguy was verified on glbse. I wonder if it would be possible to get that data so that we can open a line of communication directly with him.  Would anyone here be able to do that?

fpgaminer@hotmail.com

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October 23, 2012, 05:22:19 PM
 #138

moparguy was verified on glbse. I wonder if it would be possible to get that data so that we can open a line of communication directly with him.  Would anyone here be able to do that?

fpgaminer@hotmail.com


I had emailed him awhile back and in the response I got he mentioned the following:

Feel free to email me at the address i sent this email from...the listed address is to prevent spamming of my main email address. This email address is checked more often as it is what I use for my current Amazon and ebay sales. I also work a 9 to 5 job so sometimes it can take  me a few days to respond.

The address he emailed me from was bandbinternetsales@hotmail.com.

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October 23, 2012, 06:03:20 PM
 #139

did he write you anything else of interesting (like what are his plans)?
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November 27, 2012, 12:57:54 AM
 #140

Any updates?

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November 27, 2012, 12:35:58 PM
 #141

I emailed fpgaminer@hotmail.com and bandbinternetsales@hotmail.com maybe 10 days ago.
No answer. He's gone.
We can only ask Nefario to reveal his ID and and see what could be done.
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November 27, 2012, 12:59:57 PM
 #142

did he write you anything else of interesting (like what are his plans)?


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November 27, 2012, 01:31:40 PM
 #143

This is really one of the issuers that I expect to start partying after GLBSE shut down. Oh happy day.

I have already mentally written off all coins I had in this. Everything else would be a nice surprise.  Sad

All previous versions of currency will no longer be supported as of this update
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December 09, 2012, 11:21:05 PM
 #144

any news?

The list is out now... http://blog.glbse.com/asset-lists

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December 09, 2012, 11:39:48 PM
 #145

any news?

The list is out now... http://blog.glbse.com/asset-lists

https://bitcointalk.org/index.php?action=profile;u=62574

Last Active:    29-09-2012, 00:05:18

He's gone.

All previous versions of currency will no longer be supported as of this update
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January 08, 2013, 09:06:39 AM
 #146

Could anyone else ask Nefario to release the identity of this scammer?
I already did it 2 or 3 times with no answer from him. Maybe if someone else do it he will answer.
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January 08, 2013, 09:14:46 AM
 #147

 I lost a pile on this one and wouldn't have risked as much had the issuer not been verified.  I'd like to help in any way I can.

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January 09, 2013, 05:06:22 AM
 #148

Could anyone else ask Nefario to release the identity of this scammer?
I already did it 2 or 3 times with no answer from him. Maybe if someone else do it he will answer.

Yes. What good is it to require the issuer's identity if it is still kept a secret?

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March 19, 2013, 11:28:17 AM
 #149

here is some updates: https://bitcointalk.org/index.php?topic=112969.0;all

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