https://bitcointalksearch.org/topic/glbse-bitsplit-not-only-a-mining-project-103874
Here is another one to avoid. Its pretty much structured like a pyramid scheme.
Topic: Be careful of low rep GLBSE issuers. (Read 3196 times)
Make sure you do your due diligence on new GLBSE securities as there are a few now listing where the forum members have under 20 posts. If you wouldn't loan coins on the forum to someone with under 50 posts why would you buy shares or bonds off them ?
As an example why is someone with under 10 posts trying to raise 100 000 btc ? https://glbse.com/asset/view/BLUECHIP
If you just go by the asset page it says nothing about their community reputation so maybe this is something GLBSE needs to change, perhaps by enforcing an asset issuer to link to their forum profile.
As an example why is someone with under 10 posts trying to raise 100 000 btc ? https://glbse.com/asset/view/BLUECHIP
If you just go by the asset page it says nothing about their community reputation so maybe this is something GLBSE needs to change, perhaps by enforcing an asset issuer to link to their forum profile.
This is a great point. I completely agree. I encourage everyone to be skeptical. Trust is built over time. What any person says once or twice is worthless. What they DO over the course of a long period of time shows their character or lack thereof.
I guess being a newbie and listing a security is only one red flag to look at and I usually wait a month or two to see how the asset is progressing. Buying in to IPO's on glbse seems fraught with danger and Ive seen a lot crash and burn.
On the other hand I have recently added a new red flag to my list and that is a security issuer hiding behind trusted forum members to manage their asset which makes it seem more legitimate than it really is. This happened with bitdaytrade,bitcoinrebate and ZIP.A which used that method and they turned out badly.
ZIP.A actually paid out dividends for awhile but it turns out it was operating similarly to a ponzi scheme the whole time.
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There's always the Web of Trust. Post count isn't such a big deal, as some here have intimated. Actual trading rep, on the other hand....
Edit: And serious kudos to LoupGaroux above for a coherent & valid argument.
Edit: And serious kudos to LoupGaroux above for a coherent & valid argument.
A stolen porn website operator speaking about trust, this is a good one. What is next, a BTC exchange? Oh wait...
There's always the Web of Trust. Post count isn't such a big deal, as some here have intimated. Actual trading rep, on the other hand....
Edit: And serious kudos to LoupGaroux above for a coherent & valid argument.
Edit: And serious kudos to LoupGaroux above for a coherent & valid argument.
And before you invest your BTC to a contract, that promises you 110% of what ever PPS and solemnly swears to pay you a awesome income of N Mh/s, until the end of time (perpetual), read this: https://bitcointalksearch.org/topic/weekly-loss-of-n-guaranteed-enjoy-perpetual-loss-with-fixed-mhs-mining-turds-98517
https://glbse.com/asset/view/TIMESHAREAFRICA and https://glbse.com/asset/view/MMM are two more securities to be careful of.
I think we have to be careful of every single new security listed on GLBSE under IPOs but thanks for the effort to copypast them here.
https://glbse.com/asset/view/TIMESHAREAFRICA and https://glbse.com/asset/view/MMM are two more securities to be careful of.
Beware of highly respected members of this board even more than noobs. History shows that this board affords a lot of respect to high profile scammers. The larger the scam the higher "respect" and "fucking respect" their operators have commanded at the time right before those scams unravelling.
Condemning someone for participation seems a little misguided. Perhaps a better way to phrase it would be "don't equate post count or time here to legitimacy".
Beware of highly respected members of this board even more than noobs. History shows that this board affords a lot of respect to high profile scammers. The larger the scam the higher "respect" and "fucking respect" their operators have commanded at the time right before those scams unravelling.
It's in reference to Patrick from Bitcoinica on an irc chat demanding he gets some "fucking respect", kind of a bitcoin pop culture/meme thing now.
Ah, thanks Nefario.
under 10 100 posts questions will be asked. Deal with it.
Slight adjustment to give the point a +1, it's is what it is.
After all we are dealing with real assets and not some pixel based goods.
Its also a red flag that people cannot spell properly and use incorrect grammar.
Oh noes bite me ... yes posting random crap to up my count.
That would be pretty weird if having a low post count caused people to be scammers. Although I could see having a high post count keeping someone honest at the margin, not wanting to tarnish a reputation. So there could be some causation going on.
But one could also hypothesize that a scammer might intentionally gain high post counts in order to convince users of his legitimacy. It all really depends on how much value we put on post counts. I would advocate none or very little, because many users with high post counts contribute very little, and many with low post counts contribute quite a bit. In the end, it comes down to personal judgement. No one single metric can judge whether or not a user is a scammer, post count included.
I agree with you. I am not refering to myself because I am really a newcomer here. But look at the guy who is runing vircurex and cryptostocks and only have 33 posts so far. I understand the concerns about me because I done nothing yet to the community. I am just working my way through earning some reputatation without the talent cryptostocks has.
Dude check out my forum post I hit the same wall you did, look what I did to clear it. I was even called a scamer!
Just do stuff to prove your here for good, and to profit and to help others profit! That would be pretty weird if having a low post count caused people to be scammers. Although I could see having a high post count keeping someone honest at the margin, not wanting to tarnish a reputation. So there could be some causation going on.
But one could also hypothesize that a scammer might intentionally gain high post counts in order to convince users of his legitimacy. It all really depends on how much value we put on post counts. I would advocate none or very little, because many users with high post counts contribute very little, and many with low post counts contribute quite a bit. In the end, it comes down to personal judgement. No one single metric can judge whether or not a user is a scammer, post count included.
I agree with you. I am not refering to myself because I am really a newcomer here. But look at the guy who is runing vircurex and cryptostocks and only have 33 posts so far. I understand the concerns about me because I done nothing yet to the community. I am just working my way through earning some reputatation without the talent cryptostocks has.
I was mostly referencing their possible scam listing also https://bitcointalksearch.org/topic/glbse-vhrl-vendors-high-risk-loan-up-to-3-interest-weekly-100800
Sorry if I dont give them "fucking respect".
Sorry if I dont give them "fucking respect".
Who are you quoting? No one except you has used that term in this thread.
It's in reference to Patrick from Bitcoinica on an irc chat demanding he gets some "fucking respect", kind of a bitcoin pop culture/meme thing now.
That would be pretty weird if having a low post count caused people to be scammers. Although I could see having a high post count keeping someone honest at the margin, not wanting to tarnish a reputation. So there could be some causation going on.
But one could also hypothesize that a scammer might intentionally gain high post counts in order to convince users of his legitimacy. It all really depends on how much value we put on post counts. I would advocate none or very little, because many users with high post counts contribute very little, and many with low post counts contribute quite a bit. In the end, it comes down to personal judgement. No one single metric can judge whether or not a user is a scammer, post count included.
I concur with advising caution, but post count is not necessarily indicative of validity. Correlation does not imply causation.
That would be pretty weird if having a low post count caused people to be scammers. Although I could see having a high post count keeping someone honest at the margin, not wanting to tarnish a reputation. So there could be some causation going on.
I am ok with imposing higher standards on those with lower post counts. Sure it won't discourage those who want to game the system, but you increase the transactions costs associated with fraud by forcing them to either verify their identity, or to invest a lot in the community. Either way, it disincentivises fraud. Also, 1MM dollars. If you are going to scam, don't make it so obvious. Even Giga only has 40k shares, and he is damned reliable.
I concur with advising caution, but post count is not necessarily indicative of validity. Correlation does not imply causation.
This is why the thread title says "low reputation" not "low post count". You can import reputation from other places such as Ebay if you can prove you own the account. The main thing to look for is transparency.
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