Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 222.

grnbrg

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Official LRM shill

@Lab_Rat has posted this on labratmining.com:

Quote

BitFunder Is Tapping Out

Today, BitFunder posted on their website they are ceasing business in the US. I just wanted to let people know I'm 100% aware of this so you can stop spamming my email. I'm working out the specifics on how to proceed, but I want everyone to know I still plan on paying out dividends. It may just be manually for a little while until I can automate it. There is a reason BitFunder was chosen in the first place. That reason can be found right here: Asset List

I know every address linked to every bondholder and the amount of bonds that person holds. Please just remain calm until I make a further announcement regarding this news. If you wish to sell your bonds on BitFunder rather than hold them, feel free as I will be pulling the last updated list from BitFunder after trading has ceased.

My apologies to all for any inconvenience in your investments, but I can assure you this matter is being handled.

-Lab_Rat

grnbrg.

grnbrg

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Quote from: Ashitank on October 08, 2013, 10:13:52 PM

So are we set for a bigger dividend this Saturday as number of shares sold has gone down due to Panic selling Huh

The number of outstanding bonds hasn't changed. They're just owned by different people....

grnbrg.

bigasic

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Quote from: bigdaub on October 08, 2013, 10:00:45 PM

Quote from: ||bit on October 08, 2013, 08:41:10 PM

It's odd that Bitfunder doesn't even explain why they are doing this in the notice. Did anyone find a reason?

Not confirmed but most likely the SEC is jumping in the for violating the Exchange Act of 1934.

http://en.wikipedia.org/wiki/Securities_Exchange_Act_of_1934

That still doesn't make sense as to how they did it.. They could have closed their doors, but given us a 60 day window to buy/sell, but to just come on and stop all US residents to stop buying but only can sell is idiotic. They should have had a nice, well thought, closing plan.. Im sure this will be the end of bitfunder.. I dont see how they will be able to continue to operate after pulling a stunt like this..

LR made a post on his web site. basically telling us to chill and not to worry... Those of you that have the means and can pick up dirt cheap bonds are the lucky ones.. If I just stumbled on to this and already didn't own a lot, I would be purchasing like a mad man right now....

Bottom line, when the dust settles, we will probably be stronger than we were before....

Ashitank

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So are we set for a bigger dividend this Saturday as number of shares sold has gone down due to Panic selling Huh

bigdaub

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Quote from: ||bit on October 08, 2013, 08:41:10 PM

It's odd that Bitfunder doesn't even explain why they are doing this in the notice. Did anyone find a reason?

Not confirmed but most likely the SEC is jumping in the for violating the Exchange Act of 1934.

http://en.wikipedia.org/wiki/Securities_Exchange_Act_of_1934

bigasic

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Quote from: MWNinja on October 08, 2013, 09:43:26 PM

I don't give a shit about the exchange, I trust Zach will do an awesome job for us regardless of this mess. Hopefully we'll see an announcement soon of how he plans to transfer shares to a direct model.

I hope im not out of line by saying this, but he did tell me that he will have announcement in about 48hrs... I have total faith on Zach, he will do a good job leading us out of this mess that Bitfunder got us into...

MWNinja

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I don't give a shit about the exchange, I trust Zach will do an awesome job for us regardless of this mess. Hopefully we'll see an announcement soon of how he plans to transfer shares to a direct model.

Doff

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Quote from: Epoch on October 08, 2013, 09:19:42 PM

The clusterfrack that was GLBSE can happen anywhere; something like it is happening here now.

Bitfunder, like most bitcoin ventures today unfortunately, is pure amateur hour. They are panicking, and so their clients are panicking. I expect LRM to emerge intact, but honestly, these happenings are ridiculous. No one will take bitcoin seriously when these kinds of antics are happening every few months.

I really don't think it reflects on bitcoin, these exchanges are purely for gambling. Hopefully a serious one will come in to play built on p2p.

||bit

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Quote from: Epoch on October 08, 2013, 09:19:42 PM

The clusterfrack that was GLBSE can happen anywhere; something like it is happening here now.

Bitfunder, like most bitcoin ventures today unfortunately, is pure amateur hour. They are panicking, and so their clients are panicking. I expect LRM to emerge intact, but honestly, these happenings are ridiculous. No one will take bitcoin seriously when these kinds of antics are happening every few months.

This isn't really a negative reflection on bitcoin. This would happen with fiat, if fiat could as easily & privately be sent over the internet. Moreso, it is a reflection of dealing with people.

bigasic

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Quote from: Epoch on October 08, 2013, 09:19:42 PM

The clusterfrack that was GLBSE can happen anywhere; something like it is happening here now.

Bitfunder, like most bitcoin ventures today unfortunately, is pure amateur hour. They are panicking, and so their clients are panicking. I expect LRM to emerge intact, but honestly, these happenings are ridiculous. No one will take bitcoin seriously when these kinds of antics are happening every few months.

I agree, we need someone come in, maybe with Tor or do it completely legal, I know that LRM is quasi legal at least. It probably didn't help when he announced that it was bitfunder that was taking all the risks, lol.. I think he mentioned that a few days ago, saying that they were a money transmitter, etc.. then this happens... bitfunder wasn't a us company, so they dont have to abide by the us laws, if anything, you would think they would close their doors to Australians..

Something about this smells....

Epoch

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The clusterfrack that was GLBSE can happen anywhere; something like it is happening here now.

Bitfunder, like most bitcoin ventures today unfortunately, is pure amateur hour. They are panicking, and so their clients are panicking. I expect LRM to emerge intact, but honestly, these happenings are ridiculous. No one will take bitcoin seriously when these kinds of antics are happening every few months.

bigasic

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Just as I thought. Zach is on it.. He going to have to manually pay out dividends but is looking into an alternative to do trades, he will give us an update in the next couple days....

||bit

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Quote from: bigasic on October 08, 2013, 09:04:44 PM

Quote from: Epoch on October 08, 2013, 08:57:37 PM

Quote from: bigasic on October 08, 2013, 08:40:28 PM

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Anyone remember GLBSE?

Even GLBSE he gave an opportunity to move assets, etc.. The way bitfunder did it was not the right way... They should have at least given us a 30 day window to sell/buy whatever, but to shut the doors on US investors was very stupid. Im sure there were many ways he could have handled it better.. GLBSE wasn't nearly as bad as what bitfunder did, well, pretty close, i didnt have any glbse holdings at the time, so I cant speculate.. All I know the way hes handled the bitfunder is totally unacceptable and the exact opposite of how a proper business should be run..

Also, I realize that its not smart for LR to backdate buys and sales, but i was hoping there was a "suspend" button on his end(lab rats)... at least he could calm the storm....

LOL, never thought about it.. maybe he is doing this to buy up shares at a discount rate for himself....probably not, but possible....

I think its ironic that EVERY stock on bitfunder is TANKING!!!

I thought about that too. See similar comment above.

bigasic

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Quote from: Epoch on October 08, 2013, 08:57:37 PM

Quote from: bigasic on October 08, 2013, 08:40:28 PM

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Anyone remember GLBSE?

Even GLBSE he gave an opportunity to move assets, etc.. The way bitfunder did it was not the right way... They should have at least given us a 30 day window to sell/buy whatever, but to shut the doors on US investors was very stupid. Im sure there were many ways he could have handled it better.. GLBSE wasn't nearly as bad as what bitfunder did, well, pretty close, i didnt have any glbse holdings at the time, so I cant speculate.. All I know the way hes handled the bitfunder is totally unacceptable and the exact opposite of how a proper business should be run..

Also, I realize that its not smart for LR to backdate buys and sales, but i was hoping there was a "suspend" button on his end(lab rats)... at least he could calm the storm....

LOL, never thought about it.. maybe he is doing this to buy up shares at a discount rate for himself....probably not, but possible....

I think its ironic that EVERY stock on bitfunder is TANKING!!!

Epoch

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Quote from: bigasic on October 08, 2013, 08:40:28 PM

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Anyone remember GLBSE?

||bit

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Quote from: bigasic on October 08, 2013, 08:40:28 PM

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Seems very possible.

No explanation. Odd timing. Maybe it's a racket to get people to sell bonds/shares across the board to acquire them at low prices.

mmmerlin

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Quote from: bigasic on October 08, 2013, 08:30:06 PM

I thought about purchasing more, but trust me, I hold enough right now... I was going to slowly sell off my shares, but it looks like thats going to have to wait, lol..... now, lets hope for the HUGE dividends...

I know

Quote from: bigasic on October 08, 2013, 08:30:06 PM

He can always takes screen shots and undo the trades between time frames, yes its a pain, probably not worth doing, but its technically doable.... I just wish i didn't hold so many shares, or I would be buying like crazy..

He really can't do this. I mean, he could, but he mustn't. Any trades made are between two consenting independent third parties - you can't just "undo" people's sales because you feel like it. That really will result in him getting sued! But I will bet my bottom dollar that he wouldn't do something that crazy.

Quote from: bigasic on October 08, 2013, 08:40:28 PM

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

Yes, I am confused about this too, both the why and the how. I don't know why he's doing it, and I don't know why he didn't decide to copy the BTCTC shutdown procedure to avoid a panic. Huh

||bit

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It's odd that Bitfunder doesn't even explain why they are doing this in the notice. Did anyone find a reason?

bigasic

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Activity: 924

Merit: 1000

Yuku or whatever his name is, did it the wrong way.. He should have stopped all trades, its now a huge clusterfck. If he was worried about the SEC but isnt now, I think the opposite is true.. people are going to go complaining to the SEC now that they lost a lot of money rather than giving us investors 60 days or so to sell or have the owner figure something out. But to shutter the doors and and say "England is okay, but the USA is not" is total bullshit. and I think he will see a shitstorm of complaints and possible legal fallout because of this..

i dont know why he did this since he is in fact, in Australia....

bigasic

hero member

Activity: 924

Merit: 1000

I thought about purchasing more, but trust me, I hold enough right now... I was going to slowly sell off my shares, but it looks like thats going to have to wait, lol..... now, lets hope for the HUGE dividends...

He can always takes screen shots and undo the trades between time frames, yes its a pain, probably not worth doing, but its technically doable.... I just wish i didn't hold so many shares, or I would be buying like crazy..

Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 222. (Read 452224 times)