Author

Topic: Diablo Mining Company Aftermath (Read 1265 times)

legendary
Activity: 1162
Merit: 1000
DiabloMiner author
November 19, 2013, 10:10:40 AM
#9
Well, actually I still haven't received any dividends on the AM shares that I got for my trade-in - maybe you could check if you received them instead and send them to me? Also it would be nice to poke friedcat again, maybe he forgot about the transfer?

I've PM'ed him to request verification of how many shares I have. It should match the number I have.
legendary
Activity: 2618
Merit: 1007
November 18, 2013, 06:14:28 PM
#8
Well, actually I still haven't received any dividends on the AM shares that I got for my trade-in - maybe you could check if you received them instead and send them to me? Also it would be nice to poke friedcat again, maybe he forgot about the transfer?
legendary
Activity: 1162
Merit: 1000
DiabloMiner author
November 18, 2013, 05:19:24 PM
#7
I was not aware this thread existed.

As I have said in the DMC thread, Yochdog did not pay out any BTC for BTCMC and I do not believe he ever intends to. I sent a request to him to pay out in time for the DMC closure, he did not. No one ever offered to buy the shares for a significant fraction of the debt. You can claim I'm stealing them, but I do not expect to ever see Yochdog pay out on this.

I made an exception for AM redeeming for pascal257 as he missed the announcement and had a small number of DMC shares. He received his shares on Nov 6th, or several days before he started this thread. He talked to me on IRC and didn't realize that he received the shares as friedcat does not verify transfers.

As for the final 2,789 shares, 2,324 of them are owned by two people who have not responded to the final notice.
legendary
Activity: 2618
Merit: 1007
November 17, 2013, 02:38:55 PM
#6
Well...

People here are expected to use the "trust" function, accounts are no longer labelled as scammers. Feel free to do so and link to it in your negative trust feedback, but that's about all you can do.
sr. member
Activity: 493
Merit: 262
November 17, 2013, 02:10:06 PM
#5
My suggestion is go get a lawyer if

1. You are an American,
2. Contract was broken or any tort there.

This would be a easy case.

Or I don't know what you can do as I have 10 coins stuck in Ukyo's Weexchange.

As BTC goes higher and higher, we will see more and more people lose their dignity.

But I see this as a good thing. BTC worth nothing if it cannot figure out a way to build trust on selfish rather on dignity.
If DiabloD3 does not respond or react I will start a thread in scam accusations.
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
November 15, 2013, 01:13:36 PM
#4
Let me review this......I would hope Diablo would change his position in light of the substantial dollar payout coming to his holdings. 


An email is going out this afternoon. 

All correspondence will be handled there. 

Hi Yochdog,

On behalf of DMC shareholders who bought shares because of its ostensible exposure to BMC, please allow me to offer you a bribe, charity donation, or otherwise persuade you to NOT give a singe Satoshi to Diablo.

To re-cap:

Back in May, Diablo declared his BMC shares worthless, was humiliated for his scam attempt, and said he would "auction them off."
(https://bitcointalksearch.org/topic/m.2064057)

I offered to buy his BMC for 1 BTC.  Burnside offer to buy his BMC for 2 BTC.  Diablo, caught in a lie, refused both offers.

You confirmed his shares could be sold and transferred en mass.

Diablo never followed up, preferring to wait until a convenient confluence of circumstances allowed him to play the victim and declare DMC shares void.

Diablo knows our massive stake in BMC is worth a lot of BTC.

I don't appreciate being insulted (called a troll for raising my demonstrably valid concerns), lied to, and ripped off.

I know this isn't your problem, and that's why I'm offering you BTC out of my own pocket to make the tiny token effort needed to deny Diablo his ill-gotten gains.

Keep them, donate them, send them to a null address.  I don't care what happens as long as Diablo does not profit from his perfidy.


Cheers,

-iB

Reference:

Ukyo is already aware of my wishes to end DMC. Now that yochdog will allow transference of shares, I am going to consider auctioning them off.

I'm glad you are keeping Ukyo in the loop.  It's not fair that the unwise actions of his asset issuers reflect poorly on his exchange, but yours will regardless.

 Huh  Is Ukyo "already aware" that you unilaterally decided to steal DMC's 1000 BTCMC shares under the false pretext of them holding no value, despite being worth exactly 10% of Yochdog's large established mining company?

I disagree with any attempt by Diablo to assign "zero value" to DMC's holdings.

 Huh  Is Ukyo "already aware" that Yochdog, backed by facts and demonstrative evidence, disagrees with your (former, now abandoned) self-serving subjective appraisal of BTCMC's negligible worth?

 Huh  Is Ukyo "already aware" that you have now contradicted yourself (in a most spectacular and embarrassing manner) by entertaining the idea of holding an auction for shares you previously insisted on declaring defunct, upon suddenly realizing (when pointed out to you) DMC owns an enormous 10% of BTCMC and not the 2% you formerly believed?

 Huh  Is Ukyo "already aware" that many DMC shareholders have already (eagerly) submitted to your abusive, unethical change in DMC's terms, losing their rightful BTCMC stake in the process

 Huh Is Ukyo "already aware" you may now auction off DMC's BTCMC shares, forcing your shareholders to bid for assets they already rightfully own?

Im pretty sure Ukyo is aware that this forum has trolls. You do realize any funds received for the sale of BTCMC would be paid out as dividends, right?

Quote
https://bitcointalksearch.org/topic/m.2064866

    
Re: [GLBSE] Bitcorp Mining Company - BTCMC 60+ GH/s, clear ASIC upgrade path.
May 07, 2013, 02:56:24 PM
   
 #204
Quote from: DiabloD3 on May 07, 2013, 02:50:41 PM
Quote from: yochdog on May 07, 2013, 02:41:36 PM
Quote from: DiabloD3 on May 07, 2013, 02:31:38 PM
Quote from: yochdog on May 07, 2013, 02:02:11 PM
Quote from: iCEBREAKER on May 07, 2013, 01:51:52 PM
Quote from: DiabloD3 on May 07, 2013, 01:32:48 PM
Wow, you've dragged your trolling into this thread too?

Why don't you want me to enquire as to Yochdog's opinion of your unflattering characterization of his mining company?

You should welcome his confirmation of the correctness of your negative evaluation of BTCMC.

Yochdog, may I buy DMC's 1000 shares now?  If not, I understand, but will you honor an agreement between Diablo and myself to transfer the shares when possible?

Yes, I will facilitate private transactions of shares between consenting parties. 

Really? So if I go run an auction selling the shares, thats totally fine with you?

You have to sell the entire lot.  I will not break down current holdings into smaller blocks.

If you run an auction, and both parties verify they accept the terms, I will transfer ownership. 

Ahh, that makes it a tad more problematic.

Should be easy!  You have marked the shares to zero on your books, so anything you get out of them is a bonus to your shareholders.  I say full steam ahead. 
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
November 15, 2013, 01:12:09 PM
#3
Since DiabloD3 is trying to censor us, I figured to start a discussion about DMCs closing.

DiabloD3 decided to close his operation on Oct. 09 after an announcement on BitFunder. This is his announcement:

Diablo Mining Company is now closed. Any shares not redeemed before November 1st are now void.

In my opinion he breached his contract by voiding the shares. It does not say anything about a deadline and invalidation of shares in the contract.
Each share represents 0% of the ownership in the company assets. In the event of liquidation, 100% of the revenue from sales of the assets and 100% of the growth fund, minus any expenses incurred from the operation or liquidation of the company will be paid to shareholders.

He effectively stole 2789 shares from his share holders. Given the 11:1 ratio and estimated value of BTC.5 of ASICMINER shares thats BTC126.5.

This is all true.

For months, Diablo had been looking for an excuse to try to steal our BMC shares.  Fortunately yochdog is a stand-up guy and publicly humiliated him for the first attempt, as summarized here:
member
Activity: 116
Merit: 10
November 15, 2013, 11:58:15 AM
#2
My suggestion is go get a lawyer if

1. You are an American,
2. Contract was broken or any tort there.

This would be a easy case.

Or I don't know what you can do as I have 10 coins stuck in Ukyo's Weexchange.

As BTC goes higher and higher, we will see more and more people lose their dignity.

But I see this as a good thing. BTC worth nothing if it cannot figure out a way to build trust on selfish rather on dignity.
sr. member
Activity: 493
Merit: 262
November 15, 2013, 07:01:27 AM
#1
Since DiabloD3 is trying to censor us, I figured to start a discussion about DMCs closing.

DiabloD3 decided to close his operation on Oct. 09 after an announcement on BitFunder. This is his announcement:

Diablo Mining Company is now closed. Any shares not redeemed before November 1st are now void.

In my opinion he breached his contract by voiding the shares. It does not say anything about a deadline and invalidation of shares in the contract.
Each share represents 0% of the ownership in the company assets. In the event of liquidation, 100% of the revenue from sales of the assets and 100% of the growth fund, minus any expenses incurred from the operation or liquidation of the company will be paid to shareholders.

He effectively stole 2789 shares from his share holders. Given the 11:1 ratio and estimated value of BTC.5 of ASICMINER shares thats BTC126.5.
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