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Topic: GLBSE is offline We will update our users on Saturday. - page 19. (Read 51531 times)

hero member
Activity: 952
Merit: 1009
It is interesting to observe who else is not commenting on the issue. I'm missing some well known forum trolls members.
usagi drank him/herself into a stupor earlier today after the closedown. It's in one of her/his million threads.

Yea, I witnessed the "breakdown" on IRC. You're probably right: The whole bunch is wasted atm. One side for throwing away their "life savings", the other side all partying and swag and shit. On a boat.

Probably goes something like this: http://vimeo.com/18848658
member
Activity: 70
Merit: 10
Who shot who in the what now?
It is interesting to observe who else is not commenting on the issue. I'm missing some well known forum trolls members.
usagi drank him/herself into a stupor earlier today after the closedown. It's in one of her/his million threads.

Yea, I witnessed the "breakdown" on IRC. You're probably right: The whole bunch is wasted atm. One side for throwing away their "life savings", the other side all partying and swag and shit. On a boat.
hero member
Activity: 868
Merit: 1000
I expect GLBSE v.3 being rolled out OR current assets to be moved to a black market (GLBSE will turn to regulated market) OR a lengthy wait as the SEC and FSA works on clawing back funds from people who profited from BS&T's passthrough. Because with financial scams like Pirate's ponzi, that's what they tend to do. Clawbacks.

While it's true that there's usually an attempt to claw back large payments (it's usually not cost effective to pursue claw back of smaller ones), that's not usually a rapid process.  Nor would that alone require GLBSE going offline - they'd need information from Nefario about who was operating the PPTs, how much was traded through them and who received payments from them, but that wouldn't require taking GLBSE offline.

I agree with others that the lack of advance notice and the vagueness of the announcement suggests legal issues.  I suspect that if GLBSE comes back online in the near future, those legal issues will be reflected in how it operates from now on and that people probably aren't going to like any changes Nefario makes to keep the service operating.

Quote
usagi drank him/herself into a stupor earlier today after the closedown. It's in one of her/his million threads.

usagi investing in or endorsing any product is a kiss of death.  One could probably make a decent return by doing the exact opposite of what usagi is doing/promoting.
hero member
Activity: 868
Merit: 1000
Hoarding will destroy the value of Bitcoin... assume for a second that everybody just hoards their coins... then there is really no use for Bitcoin and therefore no value

We need an economy to accept Bitcoin for it to retain/gain value

I am really surprised with all the sh*t that's been going on lately that BTC is still valued above $12

i guess we have all the pot smokers on Silk Road to thank for that
hero member
Activity: 952
Merit: 1009
To add a little to the FUD:
It is interesting to observe who else is not commenting on the issue. I'm missing some well known forum trolls members.

Makes you think?
Wink

usagi drank him/herself into a stupor earlier today after the closedown. It's in one of her/his million threads.
member
Activity: 70
Merit: 10
Who shot who in the what now?
To add a little to the FUD:
It is interesting to observe who else is not commenting on the issue. I'm missing some well known forum trolls members.

Makes you think?
Wink
hero member
Activity: 745
Merit: 501
Random asshole:  "Oh, you should have took your money out earlier".

Hey no need to call me names.... j/k  Grin

Anyone else expect to get Codes this weekend?

Or GLBSE moving shop to China and reopening for business.

I expect GLBSE v.3 being rolled out OR current assets to be moved to a black market (GLBSE will turn to regulated market) OR a lengthy wait as the SEC and FSA works on clawing back funds from people who profited from BS&T's passthrough. Because with financial scams like Pirate's ponzi, that's what they tend to do. Clawbacks.
hero member
Activity: 868
Merit: 1000
I've put money in pirate, I knew it was somewhat high-risk, and I assume that. But come on, now, you can't even put money into low-risk assets. Assets get delisted at a click of a button, scam accusations everywhere and now, "oh hi, breaking news, GLBSE is offline".

There are no "low-risk assets".  Every single Bitcoin service which takes user funds for investment or exchange is at risk of being shut down or having their cash flow interrupted due to regulatory issues or the domino effect of other services collapsing.  People need to stop pretending they don't know that.  

Every single time you leave your BTC or your local currency on a BTC service you are doing so knowing that recovering your funds will be difficult and/or costly in the event that the service fails due to incompetence or external factors.  What Bitcoin business so far has failed due to factors which could not have been foreseen?
hero member
Activity: 784
Merit: 1000
0xFB0D8D1534241423
All of these recents scams and fuck-ups are making Bitcoin look like a complete joke. Is there even one single reliable Bitcoin business/service/website out there?
AFAIK TangibleCryptography, the registered LLC which pays taxes, is doing just fine.
Holy bitcoin !

I just sold everything yesterday night and withdrew all my coins; I feel lucky for once.
Sigh.. I knew I should have sold my assets this week  Cry
When Nefario delisted Goat's assets, I ran away really quickly.
Lets all move to litecoinglobal Smiley
The service is in beta but it looks already pretty good and admin is committed to his site.


Pfffffffffftch. How about no.

+1  Wink

(we don't want the crazies)

What I do like about litecoinglobal is that the asset operators has up-to-date information on their asset holders.  If an exchange shuts down (for any period of time) then the operator can list their asset on another exchange if necessary.

But it looks like Open Transactions is the future.
I guess so.
hero member
Activity: 826
Merit: 500
Random asshole:  "Oh, you should have took your money out earlier".

Hey no need to call me names.... j/k  Grin

Anyone else expect to get Codes this weekend?

Or GLBSE moving shop to China and reopening for business.
sr. member
Activity: 336
Merit: 250
*Rant mode ON*

Man, I'm starting to get sick of that shit, seriously. How are you supposed to invest when everything is made to create insecurity? I've put money in pirate, I knew it was somewhat high-risk, and I assume that. But come on, now, you can't even put money into low-risk assets. Assets get delisted at a click of a button, scam accusations everywhere and now, "oh hi, breaking news, GLBSE is offline".

Random asshole:  "Oh, you should have took your money out earlier".

How am I supposed to do that? There's no f*****g volume, there's no buyer except at 0.000000001 BTC because of all the shit. Why somebody whould buy an asset when you have the choice between:
-A website that make instant decisions without any warning (delisting, closing, whatever)
-Another who ask 350$ for registration with more porn than assets on it.

The only investment that was profitable in the last 10 months was buying BTC and sitting on it. What a wonderful way to grow an economy, don't you think?

Anyway, I'm done investing in others projects. I'll build my own.

Hoarding is a lot easier and safer, and I've got no complaints about how it's working out.

If you've got something of value to trade for BTC, please go to town on your project.  If you just think you are owed a living on the basis of having some BTC to deploy, I personally have little sympathy for ya.  If you've relinquished control of Bitcoin to someone else in this community and they didn't give it back, well, cry me a river.  Eventually people will figure out how dumb that is.  I hope.



Problem is all the damage they cause by being dumb. Where are all those people who were mocking critics of Pirateat40? How about some public apologies showing contrition and volunteering time and BTC to attempt to minimize the negative effects? Oh that's right they are mostly full of hot air and manure.
hero member
Activity: 532
Merit: 500
Lets all move to litecoinglobal Smiley
The service is in beta but it looks already pretty good and admin is committed to his site.


Pfffffffffftch. How about no.

+1  Wink

(we don't want the crazies)

What I do like about litecoinglobal is that the asset operators has up-to-date information on their asset holders.  If an exchange shuts down (for any period of time) then the operator can list their asset on another exchange if necessary.

But it looks like Open Transactions is the future.
legendary
Activity: 1106
Merit: 1006
Lead Blockchain Developer
Lets all move to litecoinglobal Smiley
The service is in beta but it looks already pretty good and admin is committed to his site.


Pfffffffffftch. How about no.

+1  Wink

(we don't want the crazies)
legendary
Activity: 4690
Merit: 1276
*Rant mode ON*

Man, I'm starting to get sick of that shit, seriously. How are you supposed to invest when everything is made to create insecurity? I've put money in pirate, I knew it was somewhat high-risk, and I assume that. But come on, now, you can't even put money into low-risk assets. Assets get delisted at a click of a button, scam accusations everywhere and now, "oh hi, breaking news, GLBSE is offline".

Random asshole:  "Oh, you should have took your money out earlier".

How am I supposed to do that? There's no f*****g volume, there's no buyer except at 0.000000001 BTC because of all the shit. Why somebody whould buy an asset when you have the choice between:
-A website that make instant decisions without any warning (delisting, closing, whatever)
-Another who ask 350$ for registration with more porn than assets on it.

The only investment that was profitable in the last 10 months was buying BTC and sitting on it. What a wonderful way to grow an economy, don't you think?

Anyway, I'm done investing in others projects. I'll build my own.

Hoarding is a lot easier and safer, and I've got no complaints about how it's working out.

If you've got something of value to trade for BTC, please go to town on your project.  If you just think you are owed a living on the basis of having some BTC to deploy, I personally have little sympathy for ya.  If you've relinquished control of Bitcoin to someone else in this community and they didn't give it back, well, cry me a river.  Eventually people will figure out how dumb that is.  I hope.

hero member
Activity: 532
Merit: 500
Since IF GLBSE ever comes back online it seems most likely that a panic selling will happen (even more than the BTC price after the Gox hack), I would guess that we are already royally screwed anyway.
Oh well, it's just money.

all existing orders should be canceled before the site comes back up.

This should be the least of our worries.
riX
sr. member
Activity: 326
Merit: 254
*Rant mode ON*

Man, I'm starting to get sick of that shit, seriously. How are you supposed to invest when everything is made to create insecurity? I've put money in pirate, I knew it was somewhat high-risk, and I assume that. But come on, now, you can't even put money into low-risk assets. Assets get delisted at a click of a button, scam accusations everywhere and now, "oh hi, breaking news, GLBSE is offline".

Random asshole:  "Oh, you should have took your money out earlier".

How am I supposed to do that? There's no f*****g volume, there's no buyer except at 0.000000001 BTC because of all the shit. Why somebody whould buy an asset when you have the choice between:
-A website that make instant decisions without any warning (delisting, closing, whatever)
-Another who ask 350$ for registration with more porn than assets on it.

The only investment that was profitable in the last 10 months was buying BTC and sitting on it. What a wonderful way to grow an economy, don't you think?

Anyway, I'm done investing in others projects. I'll build my own.

+10

That was the best post I've read today, totally agree.
legendary
Activity: 1190
Merit: 1000
www.bitcointrading.com
according to wikipedia..

today is "Day of Peace and Reconciliation" (according to some random african country)
hero member
Activity: 632
Merit: 500
*Rant mode ON*

Man, I'm starting to get sick of that shit, seriously. How are you supposed to invest when everything is made to create insecurity? I've put money in pirate, I knew it was somewhat high-risk, and I assume that. But come on, now, you can't even put money into low-risk assets. Assets get delisted at a click of a button, scam accusations everywhere and now, "oh hi, breaking news, GLBSE is offline".

Random asshole:  "Oh, you should have took your money out earlier".

How am I supposed to do that? There's no f*****g volume, there's no buyer except at 0.000000001 BTC because of all the shit. Why somebody whould buy an asset when you have the choice between:
-A website that make instant decisions without any warning (delisting, closing, whatever)
-Another who ask 350$ for registration with more porn than assets on it.

The only investment that was profitable in the last 10 months was buying BTC and sitting on it. What a wonderful way to grow an economy, don't you think?

Anyway, I'm done investing in others projects. I'll build my own.
hero member
Activity: 631
Merit: 500
Since IF GLBSE ever comes back online it seems most likely that a panic selling will happen (even more than the BTC price after the Gox hack), I would guess that we are already royally screwed anyway.
Oh well, it's just money.

all existing orders should be canceled before the site comes back up.
legendary
Activity: 2352
Merit: 1064
Bitcoin is antisemitic
If there is a panic sell, and the shares are to be profitable still, then there is a big opportunity to buy low.

If the most expect this, they should short as soon they can in order to buy back at the bottom, so this means a big crash.
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