AGAIN, PLEASE ADD JB TO IGNORE LIST! AND DO NOT QUOTE HIM.
thread is full of shit out of this guy. reading and replying to those shit is just time wasting.
I've noticed every few days a new troll pops up
Ohh man, I don't even post on the forums all I do is read and it's hillarious how you morons think that knowing what you are investing in, and knowing if you have ownership in what your are investing in is shit and trolling. You all are clearly from third world countries by your horrible grammer, so of course who cares about your shit 1BTC that you invest.
And if people who invested thousands of dollars, don't care about their level of ownership in their investments deserve to lose every single penny, and they probably will, because only a dumbass won't do due diligence in the companies or things he invests in.
It doesn't actually make any practical difference. If the people running Labcoin want to run off with our money, they will. It doesn't matter if the shares represent "Ownership" or not. There are a million different ways they could scam us - from lying about a chip to actually having a chip and selling extra copies out the back door and not reporting the profits.
Now, in this case the shares actually do represent ownership, according to the prospectus filed with btct.co. On the other hand we all agreed to the Btct.co terms of service which says that the shares are only virtual, not real world securities and hold no real world value.
There is no way to know what would happen if btct.co shareholders tried to sue labcoin, the way shareholders can sue real companies if they feel they've been mismanaged or lied too. Additionally complicating issues is the fact that the company is in Hong Kong, and btct.co is Belize. US Law doesn't apply at all.
If it gets to the point where shareholders feel they need to sue the company, most of the value will have been lost, and the most shareholders could hope for would be liquidation of assets, at that point all the value would be gone anyway.
That's not the point at all. Of course they can scam you a million ways, shareholders get screwed all the time. The point is it does not hurt to have information on what you are investing in, and knowing if you have actual ownership in a company is something good to know, especiialy if the company is legit.
JB asked simple questions which morons replied too with a wrong answer, and told him to pretty much stfu. WTF?? And it was a valid question which I've had on many other topics also. It's the craziest thing I've seen, these idiots giving answers, and the guy hasn't even been to LabCoins info page on BTCT.CO and he acts like he knows everything.
I'm off to lurking again, it's just a sad state how people act to normal human beings who did nothing wrong against them, by simply asking simple valid questions and getting lynched for it.