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Topic: Done with GLBSE - page 3. (Read 7511 times)

markm

legendary

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Activity: 2940

Merit: 1090

Quote from: ianbakewell on September 26, 2012, 04:32:24 PM

Have a strong EULA that removes any type of liability from you for providing the software, and then let them do what they do on their servers, what do you care?

What you propose would be like some forum script telling me what I could or could not talk about on my site, wtf?!
If they are hosted with you tho, yeah, run a tight ship

I am not talking about their servers but my servers. The software is already free to all, they can run it on their own servers as and when they please.

-MarkM-

markm

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Legendary level

Activity: 2940

Merit: 1090

The one thing that I am hesitant about in offering Open Transactions services to people is maybe solvable simply with a terms of service clause, which would be they must not issue anyone else's assets, only their own assets.

Basically I like the idea of setting up a server specifically for one issuer, but not as a way of creating a competing service. Does that make sense? If someone else also wants to issue assets Open Transactions style I want to deal with them separately, not have them squeezed onto a server I already run for an existing customer; I also do not want customers hosting scams for third parties; any scams on the server I set up for their assets to run on should have only their scams on it, no-one else's.

Well, except maybe for mine? What would they be doing about coinage? Would they want to set up their own tokens for each type of cryptocurrency and so on or would they find it convenient for me to issue my standard tokens so there are common currencies across the servers? Details...

-MarkM-

markm

legendary

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Activity: 2940

Merit: 1090

Quote from: SysRun on September 26, 2012, 04:12:22 PM

Does anyone have a reliable alternative for GLBSE?

It looks that is going to vary according to exact goals/requirements.

It might work out better in many cases for issuers to be each on their own separate/distinct server/platform that only offers assets issued by that one issuer. That would keep all the liability issues much clearer by making it very clear exactly who the one entity is that is fully liable for all assets offered on that server...

-MarkM-

SysRun

hero member

Activity: 616

Merit: 500

Portland Bitcoin Group Organizer

Does anyone have a reliable alternative for GLBSE?

starsoccer9

legendary

Legendary level

Activity: 1630

Merit: 1000

exactly there for him terminating is a breach. First of all he cant even delist items

Quote from: ?? on ??

Quote from: starsoccer9 on September 25, 2012, 09:57:20 PM

"The Exchange reserves the right to suspend transfers of any asset, or suspend access to an asset creator's account, for failure of an asset creator to provide requested information, or in the event of suspected fraud. "
Acording to there terms of service they can not delist an asset. Im no lawyer but they broke there TOS by doing such.The only thing they can do is suspend trading which doesnt mean to stop
http://www.merriam-webster.com/dictionary/suspend for those of you who need to know what suspend means

I have not even been accused of fraud.

vmg3

newbie

Activity: 14

Merit: 0

GLBSE 1 was a BETA end of story! Roll Eyes

Roll Eyes

starsoccer9

legendary

Legendary level

Activity: 1630

Merit: 1000

"The Exchange reserves the right to suspend transfers of any asset, or suspend access to an asset creator's account, for failure of an asset creator to provide requested information, or in the event of suspected fraud. "
Acording to there terms of service they can not delist an asset. Im no lawyer but they broke there TOS by doing such.The only thing they can do is suspend trading which doesnt mean to stop
http://www.merriam-webster.com/dictionary/suspend for those of you who need to know what suspend means

smoothie

legendary

Legendary level

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

So....when is everyone going to stop acting like children and start working together?

Oh right...i've got more popcorn to eat, that's why it isn't over.

guruvan

hero member

Activity: 532

Merit: 500

Quote from: Nefario on September 25, 2012, 10:38:24 AM

Quote from: ?? on ??

Quote from: phantastisch on September 25, 2012, 07:41:12 AM

Quote from: ?? on ??

Quote from: phantastisch on September 25, 2012, 07:19:35 AM

Quote from: Ocean6 on September 25, 2012, 07:16:04 AM

This has gone too far.

I am selling everything I have there, moving out all of my BTC, and never trading there again.

The owner of the platform acts vindictively and hot-headed, freezes accounts/issues of anyone he doesn't agree with, and has basically placed hundreds if not thousands of his customer's BTC in limbo.

Death-knell. I predict crickets over there.

You know that your BTC are held by the asset issuer if you bought shares , right?

If the asset issuer had his account shut down by Nefario no, the asset issuer does not hold the BTC. Nefario has the BTC.

You are saying there are people who leave BTC on GLBSE lying around instead of investing or saving according to their contracts? For other reasons than investing,paying dividends or buybacks there is no need to hold BTC there. Goat , does Nefario hold some of your Assets BTC ? Is he clearly (mind you) intending to not give them back?

at this time it seems that I can not get them back unless I agree to my account being shut down and my assets delisted. I do not consent to that so I do not know how I can get my coins back Sad

Sad

You've been given all the details you need to continue operating without GLBSE.

I've also asked you for a BTC address to send the remaining balance in your accounts to you.

And, Nefario, you've been given the details you need to continue operating GLBSE with some customers. You're unfortunately ignoring that, much like you say Goat is ignoring your details.

I continue to liquidate the final assets (minus of course the PPT bonds that Nefario has fucked me on) and withdraw any remaining BTC after the sales. I will not purchase any more securities on GLBSE until nefario is replaced, and GLBSE becomes a public company, with shareholders electing a board. It's clearly incapable of directing itself in a professional manner with nefario at the helm.

Yes. Done.

Ocean6

member

Activity: 103

Merit: 10

I don't care if Goat wants to bury his head in the sand, because I can write off the small amount of BTC I had in his issue,

but I do care that Nefario is ruining his reputation and trading floor, because I had a lot of BTC invested there.

If Nefario has decided to punish his customers because of a dispute with Goat over something else, he will reap the reward of a useless and untrusted trading floor.

Already sold off 90% of my holdings and took out the BTC.

Waiting for the remainder to sell, and will never be back.

TERRIBLE WAY TO RUN A BUSINESS

Shadow383

sr. member

Activity: 336

Merit: 250

Quote from: ?? on ??

Quote from: Nefario on September 25, 2012, 10:38:24 AM

Quote from: ?? on ??

Quote from: phantastisch on September 25, 2012, 07:41:12 AM

Quote from: ?? on ??

Quote from: phantastisch on September 25, 2012, 07:19:35 AM

Quote from: Ocean6 on September 25, 2012, 07:16:04 AM

This has gone too far.

I am selling everything I have there, moving out all of my BTC, and never trading there again.

The owner of the platform acts vindictively and hot-headed, freezes accounts/issues of anyone he doesn't agree with, and has basically placed hundreds if not thousands of his customer's BTC in limbo.

Death-knell. I predict crickets over there.

You know that your BTC are held by the asset issuer if you bought shares , right?

If the asset issuer had his account shut down by Nefario no, the asset issuer does not hold the BTC. Nefario has the BTC.

You are saying there are people who leave BTC on GLBSE lying around instead of investing or saving according to their contracts? For other reasons than investing,paying dividends or buybacks there is no need to hold BTC there. Goat , does Nefario hold some of your Assets BTC ? Is he clearly (mind you) intending to not give them back?

at this time it seems that I can not get them back unless I agree to my account being shut down and my assets delisted. I do not consent to that so I do not know how I can get my coins back Sad

Sad

You've been given all the details you need to continue operating without GLBSE.

I've also asked you for a BTC address to send the remaining balance in your accounts to you.

I do not agree to your proposal.

It's not about you agreeing. You're off GLBSE - deal with it and give nefario a BTC address. Trying to claim that he's keeping your BTC hostage when you're actively refusing to give him the details he needs to give it back is just shady.

Quote from: ?? on ??

First of all there is no way I can identify who is holding my shares. There is nothing I can do to know for 100% who owns my shares.

...Unless you use the codes given to you by GLBSE

phantastisch

legendary

Legendary level

Activity: 2271

Merit: 1363

Quote from: ?? on ??

Quote from: phantastisch on September 25, 2012, 11:04:22 AM

Quote from: ?? on ??

Quote from: Nefario on September 25, 2012, 10:38:24 AM

Quote from: ?? on ??

Quote from: phantastisch on September 25, 2012, 07:41:12 AM

Quote from: ?? on ??

Quote from: phantastisch on September 25, 2012, 07:19:35 AM

Quote from: Ocean6 on September 25, 2012, 07:16:04 AM

This has gone too far.

I am selling everything I have there, moving out all of my BTC, and never trading there again.

The owner of the platform acts vindictively and hot-headed, freezes accounts/issues of anyone he doesn't agree with, and has basically placed hundreds if not thousands of his customer's BTC in limbo.

Death-knell. I predict crickets over there.

You know that your BTC are held by the asset issuer if you bought shares , right?

If the asset issuer had his account shut down by Nefario no, the asset issuer does not hold the BTC. Nefario has the BTC.

You are saying there are people who leave BTC on GLBSE lying around instead of investing or saving according to their contracts? For other reasons than investing,paying dividends or buybacks there is no need to hold BTC there. Goat , does Nefario hold some of your Assets BTC ? Is he clearly (mind you) intending to not give them back?

at this time it seems that I can not get them back unless I agree to my account being shut down and my assets delisted. I do not consent to that so I do not know how I can get my coins back Sad

Sad

You've been given all the details you need to continue operating without GLBSE.

I've also asked you for a BTC address to send the remaining balance in your accounts to you.

I do not agree to your proposal.

Okay, so you do not want to secure the BTC of your Investors because you feel like you do not want to "comply".
Guys we have a winner. There is probably little chance that you get the possibiliy to make this mess clean without you working something out for your shareholders.

Investments with you are NOT safe.

Nefarios action maybe hotheaded , but you are doing little to help the people that trusted you. If I were you i would have a solution for my investors that trusted me ready right now and would look after nefario later.

Quote from: ?? on ??

Quote from: stepkrav on September 25, 2012, 10:46:07 AM

Can you inform the rest of us what's the dispute is about?

I had some assets he wanted. I resisted his forced sale and he delisted my assets and close my GLBSE account thus taking my assets.

Goat resisted his forced sale because he felt like his fake shares are undervalued (he sold them for 10 BTC to someone, nefario wanted to pay him the double the initial ipo price alas 0.2 BTC), and wanted to give nefario a scammer tag. Nefario then cut ties with Goat and delisted his assets without prior notice. He gave Goat everything he needed to identify who is holding his shares.

That is not 100% correct.

First of all there is no way I can identify who is holding my shares. There is nothing I can do to know for 100% who owns my shares.

Second of all as a property owner I have the right to refuse the sale of an asset. If nefario does not want to give me the price I think is fair he just can't have it (unless he uses force and takes it).

If you are dealing with them on GLBSE there is no 100% security either, if their account is compromised you cannot ensure it 100%. As far as i understood every shareholder got an identifier. The longer it takes for you to setup a system where they could register, the bigger is the chance of theft of codes. So act quick to reduce your shareholders potential damage.

As far as i understood : Nefario is forced to delete the asset, because he wants to make GLBSE a legitimate company. These were fake shares. He made a mistake in claiming that he would honor them, but was not in the position to decide this. So he is offering you a compensation out of his own pockets with twice the value of the share at "IPO". This is more than generous. He just could delist the asset of the fake GLBSE and that was it then. He is not even the owner of this IPO. Neither is he the solemn owner of GLBSE. Goat, you fucked up big time. Get your head out of your ass and set it straight.

Nefario clearly made mistakes but not giving you a higher price for your shares or even actual GLBSE shares was not one of them.

Puppet

legendary

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Activity: 980

Merit: 1040

Quote from: BitcoinINV on September 25, 2012, 11:11:55 AM

Are we sure this is what we want fellas? S.E.C is already looking and this is just horrible, Not taking either side don't care but some sort of private agreement. Like a 1 week time frame for goat to get his affairs in order then pull the plug?

+5

I also think that would be a good idea. Relist goat's assets for a week or a two with huge warnings, to give the asset holders the time to get out and strike a deal with goat. I can understand nefario's position all to well, but I dont think shareholders should get in the cross fire like this. Plus its also giving goat a convenient excuse.

markm

legendary

Legendary level

Activity: 2940

Merit: 1090

Maybe he means the page does not include enough citations and he lacks edit rights there so cannot correct it himself?

-MarkM-

Nefario

hero member

Activity: 602

Merit: 513

GLBSE Support [email protected]

Quote from: reeses on September 25, 2012, 11:31:59 AM

Quote from: Nefario on September 25, 2012, 10:58:06 AM

Quote from: ?? on ??

I do not agree to your proposal.

Then you're asset holders should push to have you prosecuted for fraud.

You have a fiduciary duty to your asset holders http://en.wikipedia.org/wiki/Fiduciary_duty

And you have been given all the information needed to carry that duty out.

Why do you link to wikipedia? You should know the original sources if you hope to continue in your current business.

Next, you'll be citing episodes of Matlock.

Because it's a good explanation of what fiduciary duty is, whats your point?

reeses

donator

Activity: 151

Merit: 100

Assholier-than-thou retard magnet

Quote from: Nefario on September 25, 2012, 10:58:06 AM

Quote from: ?? on ??

I do not agree to your proposal.

Then you're asset holders should push to have you prosecuted for fraud.

You have a fiduciary duty to your asset holders http://en.wikipedia.org/wiki/Fiduciary_duty

And you have been given all the information needed to carry that duty out.

Why do you link to wikipedia? You should know the original sources if you hope to continue in your current business.

Next, you'll be citing episodes of Matlock.

pyrkne

member

Activity: 70

Merit: 10

It's so sad watching everyone in this forum butting heads.

I could resolve to only do business with people who don't blow up at each other over the internet...

But then it looks like I'd be doing business alone.

~pyotr

BitcoinINV

sr. member

Activity: 448

Merit: 250

Are we sure this is what we want fellas? S.E.C is already looking and this is just horrible, Not taking either side don't care but some sort of private agreement. Like a 1 week time frame for goat to get his affairs in order then pull the plug?

phantastisch

legendary

Legendary level

Activity: 2271

Merit: 1363

Quote from: ?? on ??

Quote from: Nefario on September 25, 2012, 10:38:24 AM

Quote from: ?? on ??

Quote from: phantastisch on September 25, 2012, 07:41:12 AM

Quote from: ?? on ??

Quote from: phantastisch on September 25, 2012, 07:19:35 AM

Quote from: Ocean6 on September 25, 2012, 07:16:04 AM

This has gone too far.

I am selling everything I have there, moving out all of my BTC, and never trading there again.

The owner of the platform acts vindictively and hot-headed, freezes accounts/issues of anyone he doesn't agree with, and has basically placed hundreds if not thousands of his customer's BTC in limbo.

Death-knell. I predict crickets over there.

You know that your BTC are held by the asset issuer if you bought shares , right?

If the asset issuer had his account shut down by Nefario no, the asset issuer does not hold the BTC. Nefario has the BTC.

You are saying there are people who leave BTC on GLBSE lying around instead of investing or saving according to their contracts? For other reasons than investing,paying dividends or buybacks there is no need to hold BTC there. Goat , does Nefario hold some of your Assets BTC ? Is he clearly (mind you) intending to not give them back?

at this time it seems that I can not get them back unless I agree to my account being shut down and my assets delisted. I do not consent to that so I do not know how I can get my coins back Sad

Sad

You've been given all the details you need to continue operating without GLBSE.

I've also asked you for a BTC address to send the remaining balance in your accounts to you.

I do not agree to your proposal.

Okay, so you do not want to secure the BTC of your Investors because you feel like you do not want to "comply".
Guys we have a winner. There is probably little chance that you get the possibiliy to make this mess clean without you working something out for your shareholders.

Investments with you are NOT safe.

Nefarios action maybe hotheaded , but you are doing little to help the people that trusted you. If I were you i would have a solution for my investors that trusted me ready right now and would look after nefario later.

Quote from: ?? on ??

Quote from: stepkrav on September 25, 2012, 10:46:07 AM

Can you inform the rest of us what's the dispute is about?

I had some assets he wanted. I resisted his forced sale and he delisted my assets and close my GLBSE account thus taking my assets.

Goat resisted his forced sale because he felt like his fake shares are undervalued (he sold them for 10 BTC to someone, nefario wanted to pay him the double the initial ipo price alas 0.2 BTC), and wanted to give nefario a scammer tag. Nefario then cut ties with Goat and delisted his assets without prior notice. He gave Goat everything he needed to identify who is holding his shares.

Nefario

hero member

Activity: 602

Merit: 513

GLBSE Support [email protected]

Quote from: ?? on ??

I do not agree to your proposal.

Then you're asset holders should push to have you prosecuted for fraud.

You have a fiduciary duty to your asset holders http://en.wikipedia.org/wiki/Fiduciary_duty

And you have been given all the information needed to carry that duty out.

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