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Topic: [BTC-TC] Deprived Mining Speculation (DMS) - page 13. (Read 198958 times)

legendary
Activity: 1946
Merit: 1035
February 19, 2014, 04:32:21 AM
It is insane for people that have invested in DMS to claim that BDD is a Ponzi scheme, since both funds operate exactly the same. You'd think that DMS-investors would have at least some clue as to who the whole thing worked and were able to recognize when something with identical functionality is started elsewhere.
Exactly.
No clue why matt gave this answer, I'm not sure what to make of it.

Of course it is insane to compare DMS or BDD with a Ponzi.

What I meant is that if you look around hot topics popping up these days, stupid people seem so desperate to gamble their money that they are actually sending out their BTC to - literally - Ponzi schemes that dare to call themselves exactly that. And yet some of them genuinely seem surprised to see the site vanish within three days. Insane...

The trend is growing so far as to have competing Ponzis outbidding each other. Over the last few days, I've seen the alleged returns inflating from 110% to 115% to 120% and now 200%...
hero member
Activity: 630
Merit: 500
Bitgoblin
February 19, 2014, 04:04:01 AM
Also, I looked into the B.Mine and B.Sell thing at Havelock, my apologies but it is a Ponzi scheme.  The provider brings nothing to the table other than taking the fees.  Both B.sell and B.mine DECREASED in dividend prices today.  Fortunately, I was logged into Havelock, waiting for the dividends, and was able to sell immediately without too much loss. 
This is insane.

What's your agenda?
Or are you just randomly mad?

Ponzis seem to have become as acceptable as fashionable right now anyway. Insane, you said? Roll Eyes

It is insane for people that have invested in DMS to claim that BDD is a Ponzi scheme, since both funds operate exactly the same. You'd think that DMS-investors would have at least some clue as to who the whole thing worked and were able to recognize when something with identical functionality is started elsewhere.
Exactly.
No clue why matt gave this answer, I'm not sure what to make of it.
hero member
Activity: 728
Merit: 500
February 19, 2014, 02:28:19 AM
Also, I looked into the B.Mine and B.Sell thing at Havelock, my apologies but it is a Ponzi scheme.  The provider brings nothing to the table other than taking the fees.  Both B.sell and B.mine DECREASED in dividend prices today.  Fortunately, I was logged into Havelock, waiting for the dividends, and was able to sell immediately without too much loss. 
This is insane.

What's your agenda?
Or are you just randomly mad?

Ponzis seem to have become as acceptable as fashionable right now anyway. Insane, you said? Roll Eyes

It is insane for people that have invested in DMS to claim that BDD is a Ponzi scheme, since both funds operate exactly the same. You'd think that DMS-investors would have at least some clue as to who the whole thing worked and were able to recognize when something with identical functionality is started elsewhere.
legendary
Activity: 1946
Merit: 1035
February 19, 2014, 12:56:39 AM
Also, I looked into the B.Mine and B.Sell thing at Havelock, my apologies but it is a Ponzi scheme.  The provider brings nothing to the table other than taking the fees.  Both B.sell and B.mine DECREASED in dividend prices today.  Fortunately, I was logged into Havelock, waiting for the dividends, and was able to sell immediately without too much loss.  
This is insane.

What's your agenda?
Or are you just randomly mad?

Ponzis seem to have become as acceptable as fashionable right now anyway. Insane, you said? Roll Eyes
hero member
Activity: 630
Merit: 500
Bitgoblin
February 18, 2014, 04:53:05 AM
Also, I looked into the B.Mine and B.Sell thing at Havelock, my apologies but it is a Ponzi scheme.  The provider brings nothing to the table other than taking the fees.  Both B.sell and B.mine DECREASED in dividend prices today.  Fortunately, I was logged into Havelock, waiting for the dividends, and was able to sell immediately without too much loss.  
This is insane.

What's your agenda?
Or are you just randomly mad?
legendary
Activity: 1386
Merit: 1000
February 17, 2014, 12:59:23 PM

There are people on this thread whose shares in DMS.* are worth a significant amount. Some of us may be interested in doing our own detective work sooner than next month. Is there any reason you can't divulge his real name here? Whatever has happened, we are due the opportunity to find out so we can work out what to do next.

The guy has been away for three months without explanation; I think he's waived his right to pseudonymity.

I am still looking into seeing what everyone at CT knew of him before I can really make many statements, because my interactions were a few internal E-mails from him - nothing that would allow you to track him down. Let me try to discuss Deprived's identity with the rest of the board, and if I can find out anything more, share it with you.

Having said this, the last communication I had with him was 11/15/2013.

OK, thanks for doing this.

+1
+2, some of us have VERY significant amounts invested in DMS!

Also, I looked into the B.Mine and B.Sell thing at Havelock, my apologies but it is a Ponzi scheme.  The provider brings nothing to the table other than taking the fees.  Both B.sell and B.mine DECREASED in dividend prices today.  Fortunately, I was logged into Havelock, waiting for the dividends, and was able to sell immediately without too much loss. 
B.MINE/B.SELL is almost exactly the same as DMS. Sure, there are some details that are different, but the concept is identical. Neither BDD nor DMS even remotely resembles a Ponzi scheme.

Thanks for the vote of confidence, Rannasha.

HowlingMad, BDD functions very similarly to DMS with the main exception that the funds' capital is not invested, but simply held in escrow by Havelock.

If the Difficulty increases, MINE's dividends will decrease as well because the dividend formula emulates a 5GH/s miner, which would now be paying out less due to the increased Difficulty.

SELL returns excess capital to shareholders - since the Difficulty increased, the capital needed on hand for 200 days of dividends decreased, and a dividend was issued to SELL holders. This is functionally the same way that DMS operated, so I'm not sure why this was any surprise to you.
hero member
Activity: 728
Merit: 500
February 17, 2014, 12:48:13 PM

There are people on this thread whose shares in DMS.* are worth a significant amount. Some of us may be interested in doing our own detective work sooner than next month. Is there any reason you can't divulge his real name here? Whatever has happened, we are due the opportunity to find out so we can work out what to do next.

The guy has been away for three months without explanation; I think he's waived his right to pseudonymity.

I am still looking into seeing what everyone at CT knew of him before I can really make many statements, because my interactions were a few internal E-mails from him - nothing that would allow you to track him down. Let me try to discuss Deprived's identity with the rest of the board, and if I can find out anything more, share it with you.

Having said this, the last communication I had with him was 11/15/2013.

OK, thanks for doing this.

+1
+2, some of us have VERY significant amounts invested in DMS!

Also, I looked into the B.Mine and B.Sell thing at Havelock, my apologies but it is a Ponzi scheme.  The provider brings nothing to the table other than taking the fees.  Both B.sell and B.mine DECREASED in dividend prices today.  Fortunately, I was logged into Havelock, waiting for the dividends, and was able to sell immediately without too much loss. 
B.MINE/B.SELL is almost exactly the same as DMS. Sure, there are some details that are different, but the concept is identical. Neither BDD nor DMS even remotely resembles a Ponzi scheme.
full member
Activity: 175
Merit: 100
February 17, 2014, 12:43:18 PM

There are people on this thread whose shares in DMS.* are worth a significant amount. Some of us may be interested in doing our own detective work sooner than next month. Is there any reason you can't divulge his real name here? Whatever has happened, we are due the opportunity to find out so we can work out what to do next.

The guy has been away for three months without explanation; I think he's waived his right to pseudonymity.

I am still looking into seeing what everyone at CT knew of him before I can really make many statements, because my interactions were a few internal E-mails from him - nothing that would allow you to track him down. Let me try to discuss Deprived's identity with the rest of the board, and if I can find out anything more, share it with you.

Having said this, the last communication I had with him was 11/15/2013.

OK, thanks for doing this.

+1
+2, some of us have VERY significant amounts invested in DMS!

Also, I looked into the B.Mine and B.Sell thing at Havelock, my apologies but it is a Ponzi scheme.  The provider brings nothing to the table other than taking the fees.  Both B.sell and B.mine DECREASED in dividend prices today.  Fortunately, I was logged into Havelock, waiting for the dividends, and was able to sell immediately without too much loss.  
hero member
Activity: 658
Merit: 500
February 17, 2014, 01:42:55 AM

There are people on this thread whose shares in DMS.* are worth a significant amount. Some of us may be interested in doing our own detective work sooner than next month. Is there any reason you can't divulge his real name here? Whatever has happened, we are due the opportunity to find out so we can work out what to do next.

The guy has been away for three months without explanation; I think he's waived his right to pseudonymity.

I am still looking into seeing what everyone at CT knew of him before I can really make many statements, because my interactions were a few internal E-mails from him - nothing that would allow you to track him down. Let me try to discuss Deprived's identity with the rest of the board, and if I can find out anything more, share it with you.

Having said this, the last communication I had with him was 11/15/2013.

OK, thanks for doing this.

+1
legendary
Activity: 1176
Merit: 1001
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February 15, 2014, 11:51:23 PM

There are people on this thread whose shares in DMS.* are worth a significant amount. Some of us may be interested in doing our own detective work sooner than next month. Is there any reason you can't divulge his real name here? Whatever has happened, we are due the opportunity to find out so we can work out what to do next.

The guy has been away for three months without explanation; I think he's waived his right to pseudonymity.

I am still looking into seeing what everyone at CT knew of him before I can really make many statements, because my interactions were a few internal E-mails from him - nothing that would allow you to track him down. Let me try to discuss Deprived's identity with the rest of the board, and if I can find out anything more, share it with you.

Having said this, the last communication I had with him was 11/15/2013.

OK, thanks for doing this.
sr. member
Activity: 391
Merit: 250
February 15, 2014, 01:58:44 PM

There are people on this thread whose shares in DMS.* are worth a significant amount. Some of us may be interested in doing our own detective work sooner than next month. Is there any reason you can't divulge his real name here? Whatever has happened, we are due the opportunity to find out so we can work out what to do next.

The guy has been away for three months without explanation; I think he's waived his right to pseudonymity.

I am still looking into seeing what everyone at CT knew of him before I can really make many statements, because my interactions were a few internal E-mails from him - nothing that would allow you to track him down. Let me try to discuss Deprived's identity with the rest of the board, and if I can find out anything more, share it with you.

Having said this, the last communication I had with him was 11/15/2013.
legendary
Activity: 1176
Merit: 1001
CryptoTalk.Org - Get Paid for every Post!
February 14, 2014, 10:29:27 PM
Anyone has tried to contact Kate to ask about Deprived?

I'm not Kate, but I'm part of CipherTrade's advisory board.

There has been no formal contact with Deprived, AKA Jon since November, that I am aware of. He seemingly was going to be an integral part of what CipherTrade was going to do in regards to legal aspects of the company. As soon as I hear something, I will let you know, but his departure was..... Strange. He could of had a huge seat at the table for what CT was/is going to do, but of all the conversations we've had with board members, he's been totally absent.

Until the point of his disappearance, he seemed very upfront about what he was interested in, and what he was planning to do with DMS on CipherTrade. He dropped a few hints about his personal/professional life in communications, and I will see if we can do some detective work in the next month to see why he's gone missing.

There are people on this thread whose shares in DMS.* are worth a significant amount. Some of us may be interested in doing our own detective work sooner than next month. Is there any reason you can't divulge his real name here? Whatever has happened, we are due the opportunity to find out so we can work out what to do next.

The guy has been away for three months without explanation; I think he's waived his right to pseudonymity.
sr. member
Activity: 391
Merit: 250
February 14, 2014, 10:22:07 AM
Anyone has tried to contact Kate to ask about Deprived?

I'm not Kate, but I'm part of CipherTrade's advisory board.

There has been no formal contact with Deprived, AKA Jon since November, that I am aware of. He seemingly was going to be an integral part of what CipherTrade was going to do in regards to legal aspects of the company. As soon as I hear something, I will let you know, but his departure was..... Strange. He could of had a huge seat at the table for what CT was/is going to do, but of all the conversations we've had with board members, he's been totally absent.

Until the point of his disappearance, he seemed very upfront about what he was interested in, and what he was planning to do with DMS on CipherTrade. He dropped a few hints about his personal/professional life in communications, and I will see if we can do some detective work in the next month to see why he's gone missing.
legendary
Activity: 1946
Merit: 1035
February 13, 2014, 03:53:06 PM
What happened after the btct.co shutdown?

Were the dividends paid directly to the correponding btc addresses?
Yes, I received dividends for about six weeks and then the fund was insolvent.  The fund owned a boatload of Ciphermine but it was worth virtually nothing.  Until the Ciphermine starts trading again no one has an idea of what the fund is worth.

Interesting, did you receive direct dividends for SELLING and/or PURCHASE?

I didn't get anything for MINING
hero member
Activity: 728
Merit: 500
February 13, 2014, 03:52:59 PM
What happened after the btct.co shutdown?

Were the dividends paid directly to the correponding btc addresses?
Yes, I received dividends for about six weeks and then the fund was insolvent.  The fund owned a boatload of Ciphermine but it was worth virtually nothing.  Until the Ciphermine starts trading again no one has an idea of what the fund is worth.


The fund didn't become insolvent and Ciphermine bonds didn't become virtually worthless. Ciphermine bonds are still redeemable for face value, but doing so invokes a 3 month waiting period during which dividends are waived. So it was decided to wait for Cipermine bonds and DMS to relist elsewhere.

However, in while the CipherTrade exchange is now in beta preparing for launch, Deprived has not shown his face on the forums in months.
full member
Activity: 175
Merit: 100
February 13, 2014, 03:50:53 PM
I'm not sure if someone can prove their ownership of DMS shares to an outsider (that is, not Deprived or burnside). There is the asset-holders-list that issuers have received from burnside, but unless either burnside shares this list with usagi, there's no way to verify how many shares someone has. Obviously, with this list, a signed message from the public BTC address associated with the shares is easy.
I was able to go to BTCT a few weeks ago and download listings of my trades and stock/share totals.  Have you tried that?
full member
Activity: 175
Merit: 100
February 13, 2014, 03:47:51 PM
What happened after the btct.co shutdown?

Were the dividends paid directly to the correponding btc addresses?
Yes, I received dividends for about six weeks and then the fund was insolvent.  The fund owned a boatload of Ciphermine but it was worth virtually nothing.  Until the Ciphermine starts trading again no one has an idea of what the fund is worth.
sr. member
Activity: 252
Merit: 250
February 13, 2014, 09:29:34 AM
I think its now time to call this a potential run away or he's dead.

I'm in the UK.  Dig some info and I will investigate.
newbie
Activity: 53
Merit: 0
February 13, 2014, 09:20:29 AM
What happened after the btct.co shutdown?

Were the dividends paid directly to the correponding btc addresses?
legendary
Activity: 882
Merit: 1000
February 13, 2014, 12:31:29 AM
Anyone has tried to contact Kate to ask about Deprived?
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