Topic: Gigamining / Teramining - page 65. (Read 216459 times)

Did you have any plan at all for what would happen to your business if glbse went  down? If not, what are you doing running such a  large business in the first place. Do you even have business insurance ? Do you even have a business plan that considered these risks ?

Yet you could not be bothered with having a backup plan in place for the bonds issued after such a troubled launch.

I'll post this again since it's already been buried.

I'm glad so many people are posting great questions.

I look forward to Giga's response on Monday.

Perpetual mining bonds are a scam to begin with. Its probably a good thing they wont be able to continue on such a  massive scale.

Yes, well, here's the thing: in your model, if a person can't sign with the address presented as "of record", sadly no action can be taken. This splits the Fo in two: those who can prove it to this standard and those who can't. Neither set is void, so some innocents will be slaughtered.

In Giga's model, as long as a person is willing to swear that they indeed do own the shares, they will (I imagine?) likely get them even without the extra step of signing with the btc address. Obviously the requirement to swear, which implies both identifying themselves and doing some clerical work (apostille etc) also splits Fo in two: those who will and those who won't. Neither set is void here either, so some innocents will be slaughtered here too.

In this sense, the models are not significantly different: they both try to solve a situation as best possible. You are arguing for one rather than the other, which is fine. The OP not picking your favorite is not necessarily a crime: the model he did pick has significant advantages (it is legally sound, for one; it allows the users themselves to choose whether they want to be slaughtered or not, as opposed to just "Oops, you hadn't stamped a card on Aug 17th? Ah well, poopy for you" for another).


The problem, however, is that whether you accept it or not is irrelevant. You're not the standard to measure this by. I'm not either, nor is anyone else (or even, "everyone else", as in, all the F in corpus).

A good representation of the kernel of the problem is right here: we used to have a measuring stick. It burned. Now we have no measuring stick.

Attempts to make the solution acceptable as legitimate by the measuring stick of traditional last resort (ie, courts and the law) are the only sane approach, exactly because Bitcoin is decentralized, it has no authority, no way to issue statutory protections etc (a point discussed in passing in the GPG contracts article).

Sure, it'd have been better if the measuring stick hadn't burned. We agree. However, it doesn't seem that Gigavps set it on fire, as best I can tell.

Yes and to expand all the information required to determine the payments/ownership of the bonds is contained in the payments made that are in the blockchain. It should be simple enough to continue the payments due based on list of address in already sent payments since those are based on the bonds owned by that address you have your ownership determined.. Too simple a solution with not enough scam potential in it so probably why it was not thought of to be used.

Lets be honest, no one will do anything. And the crooks know it 

You too can fly to vegas and have dinner with a pirate and become an upstanding community member all for the measly price of 100k

In absence of the state, if Giga keeps the money, there are a thousand bond holders with an incentive to put a bounty on his head.

He was paying out before.. Why is he not paying out now? Did the bitcoin addresses go bad when glcrapbse went down?

I find it hilarious one runs a biz and trusts some dork of a 3rd party with key info. Talk about foolish and not needed.

That was the entire business model of these mining bonds to start with it is not like they we ever good deal. Oh and if you cast your gaze back in this thread you will see everyones favorite starfish at the moment pointing out the problems this issue had from the start.


This whole farce now playing at this point in time was easily foreseeable yet nothing was done to ensure the running of this venture in the event of further problems like at the beginning

Anarchism is such a stupid thing.
If giga would be an anarchist he would just keep the bitcoins. If someone comes whining about it, he just hires some big guys to break the bones of the whiner. The whiner won't go to the police or what ever because of '**** the regime'.

Take over 100k for a scammer tag? Sign me up!

Scammer tags are meaningless.

I don't see how getting the identities of the false owners shows them to be false owners. So Nefario's mother and girlfriend happened to be holding a lot of shares? What are you going to do about it?

Furthermore, giga and others have already been trusting Nefario's reports (while the site was running) and so are already exposed to the same if any liability from a possible Nefario share stealing scam.

To be honest, the only reason I vote for scammer tag is because he's gone to a lawyer. I understand that many on this forum aren't anarchists, but from an anarchist's point of view, going to a lawyer to solve your disputes is like going to your local KKK.

Calling a criminal organization for help is never a good idea.

What's the alternative? It's shitty, no doubt. Had I been in Giga's shoes I never would have contacted a lawyer to get the list, which means I likely never would have gotten the list, which means all share holders get F'ed. I probably would have just donated all of the proceeds to charities or something. At least then I couldn't be accused of benefiting from others' loss.

Well that was idea from start charge you boys through the nose for these machines making the extra hashes for himself he just has become even greedier little prick trying to get more of yours now that circumstances permit. And I see he must have greased the right people as he still has the golden boy status according to theymos, better screen shot every bit of information you find those awkward posts have a way of disappearing on this forum.

Edit: And now I see the top of the page apparently polls are subject to censorship now as well.

Theory like that.

Let's suppose Nefario removed some real asset holders from the list, to put false information for addresses controlled by him.  Based on the data GLBSE requested to make an account, it's probably a bunch of usernames with BTC address and assets ID. It's not that hard for Nefario to create a dozen of BTC addresses and simply change some of the address in the list. What happen if gigavps blindly follow the list without any verification?

Don't forget Nefario IS a scammer and has proven himself untrustworthy.

I don't own any gigamining assets, I'm simply looking at that and consider that gigavps is in a "damned if you, damned if you don't" situation.

The only way to do so is to compare notes from all parties to try and verify the information given by GLBSE.


Proving you own a private key provides no legal recourse should you be proven to be colluding with Mr. McCarthy.