Topic: Nefario - page 20. (Read 198705 times)

Don't you mean annual?

ESAD, always popular.

Anyway... nothing is moving. I would give the little investment for flowers a try. If anyone is trusting binford 6100 then he could start creating a btc address and find a flower delivery. If all is collected we only need the address of james, would need to think about the kind of flowers and i would vote for a card with it to transport what the flowers are for and what wishes we have in mind.
Let me know.

So once he get his salary your shares were practically worth nothing? Man... i never would take part in one of nefarios businesses. Looks like he used his 60% to get all the money thats earned, without other shareholders could do something against. And you not only lost your dividends but the value of your shares too. Because i wouldnt have paid a cent for them anymore when there is practically no dividends. They are worthless then.
What business tactics... looks like nefario reacted to unfair behaviour of diablo and others but at the same time he was unfair to his own shareholders too.

Possibly the notion of GLBSE being worth 2% of what the open market priced MPOE/MPEx at was a little offensive to him.

So maybe pride before greed.

He is hilariously and notoriously greedy.

Dividends mostly ceased once Nefario started getting paid. He took most/any of the profits.

Where is this? Hongkong? Or New York Central? Sounds extreme...

And youre right... i only make assumptions. And i think it doesnt have to mean much when glbse doesnt hold much. Why should they. I mean when the shareholders rather would get higher dividends then ok, glbse is holding less but the shareholders earn more.
And the assumption that the shareholders have to earn much comes from the point that they allowed nefario a ceo-salary of $40,000. I mean when the shareholders all together would earn dividends per year in height of $30,000 that would mean they couldnt afford to pay nefario this salary. It would be nuts to say yes to this salary then. So at least the yearly dividend for 100% shares of glbse had to be more than $40,000. And i really think it has to be a good chunk more. Because when the yearly dividend was $50,000 and then $40,000 of them should be gone because nefario wants to be paid $40,000 yearly then the sharholders would go from a nice income to no income nearly. They wouldnt possibly say yes to this. So i think the dividends has to be way higher than that. Otherwise shareholders saying yes to such a cut to their dividends would sound really strange. Because they would earn way less. And at the same time the worth each share is having would drop significantly. Because each share means way less dividends. I highly doubt shareholders would do such suicide. So, in my opinion, the dividends has to be way more at that time.

LOL where do you live? Candy land?

$62k-$69k PER WEEK?!?!?
 

None of the other shareholders have suggested that GLBSE was paying any significant amount in dividends.  I think that you're making a whole lot of flawed assumptions here because you're applying real world principals to what was essentially a toy company run by someone without any business expertise whatsoever.

theymos indicated that GLBSE held less than 1000 BTC of its own - the vast majority of BTC it held were user funds.  That's a very low amount of reserves to have on hand.  If GLBSE had been the cash cow you believe it was, it would have had more than enough funds on hand to cover the double payments.

And yep, there are lots of expensive places in the world.  $15 per hour is the minimum wage where I live and average weekly earnings are between $62,000 and $69,000 depending on whose statistics you use.  Housing, electricity and petrol are all extremely expensive here, so people earning wages which might sound high to those living elsewhere are going to be living significantly lower lifestyles.

That nefario was earning more than the lowest 20% of households doesn't mean much.  The lowest 20% of households in any Western nation are almost certainly living in abject poverty and working part-time if at all. 

And just like any other bitcoin business closing, not a fucking peep, and apparently little to no chance of recovering anything for most people. Not even the chance of liquidators like our buddy Patrick forced bitcoinica to seek.

I'm soooooooooo thankful that I bailed anything that I really had any chance of recovering in the first place. I suppose it doesn't matter if nefario the scammer doesn't return the proof that brendio & goat owe me money from pirate the scammer.

It does have me wondering, which of the various entities I've entrusted funds to now are going to close up and cease communications. (of course, they're never "stealing" the funds....they just can't return them LOL)

80 pages of Nefario. Wow.

Sounds like london is an expensive place to live when the fifth households in GB with the lowest income had $24,000 before tax and he nearly had double that amount only from ceosalary. Would be interesting to know what earnings he got from holding 60% of glbse shares then too.

I confirm that's at the most an average income for an average 40 hours per week job. As an entrepreneur you work way more than that. So after taxes and if you are the only person earning income for your family, that income is not considered a lot in western Europe and especially not in expensive places like London.

Yep... it's a very low salary in London.

I can tell you from experience that £2.000 ($3.333) before taxes does not go far in London....

If there were legal problems nefario wouldnt bother to give out the asset infos because the fsa or similar already would have raid the database. I think in this case nefario would more likely to stop everything. Not paying back any user bitcoins in the fear that the fsa will use the btc for something and he has to pay later out of his own pocket. So i dont believe that any government agency is involved till now.

If there are issuers that collected $100k+ you should think about that he earned $40,000 yearly for his ceo-job. And he owned 60% of the glsbe-shares. Which means these shares has to bring him at least another $40,000 per year. Otherwise the ceo-salary would mean that the other shareholders would earn way less and they wouldnt have said yes to this salary. I mean the salary has to be small enough so that the shareholders at the end earn enough from being shareholders so that they are pleased too. And when nefario owned 60% of the shares then he would get a big chunk on this on top.
That means some asset issuer collecting $100,000 probably couldnt bring nefario to kill glbse. Because even when this issuer would pay him 50% this would only be $50,000. And this money nefario earned probably in 7 or 8 months. So i doubt that something like this happened.


Hm... $40,000 yearly plus probably more then $40,000 yearly from the 60% shares he hold of glbse would mean a monthly salary of at least $6666.66. Each month. I think that isnt too less to live. Even when taking only the ceo-salary it would be $3333.33 each month. I think you can feed a family with that in GB. Maybe he wrote this when glbse wasnt successful and he didnt got his ceo-money already?

If he refused to sell 25% that could mean he dont want to lose his majority as a shareholder and that he didnt plan to scam at this time.

The last sentence i dont understand. He closed glbse because of a couple hundred overpayment bitcoins?


I dont know the situation in GB but i think $40,000 yearly are $3333.33 monthly and at least in my country its more than the average salary. Way more than normal people earn monthly. And you have to keep in mind that the shareholders of glbse only would say yes to this salary when they afterwards still get a good share from their shares for glbse. I mean they wouldnt say yes to it when they only get small money later because of the high salary. If thats true then nefario would earn even more because he owned 60% of the shares of glbse. So i dont think that he suffered because of too less income.
Heres some link to income in GB: http://en.wikipedia.org/wiki/Income_in_the_United_Kingdom
They claim that the bottom fifth households in GB earned £15,000 before tax each year. Thats $24,000 before taxes. He had way more only from his ceo-salary.

From what the shareholders have said, he wasn't being paid that much - about $40,000 per year which is not very much to live on in the UK.  And just because Bitcoiners love to use the terminology of the real business world which they despise so much, doesn't mean that self-selected titles like "CEO" or terms like "IPO" imply any kind of competence or massive amounts of money.

theymos was trying to sell his shares prior to anyone learning of nefario's intention to shut down GLBSE and nobody wanted them so nefario's shares weren't especially valuable either.

People repeatedly make the mistake of assuming that just because a Bitcoin enterprise is highly visible means that it's highly profitable. 

Nefario once noted he barely earned enough to eat a few months ago, while working on GLBSE so much keeps him from seeing his family.

That said, around six or so months ago, I offered to buy a stake in GLBSE. I think it was something like $20k for 25%. He refused, noting it was offensively low. Obviously, GLBSE and Nefario's name is worthless, now.

- Anyway... Nefario would kill his baby to save a couple hundred bitcoins (guessing) worth of overpayments, but would not kill his baby for a thousand or so from a large Issuer not wanting to fulfill his contract?

An alternative to payment could be if the legal problems are true an issuer being behind it and yes there were some/at least one that got the suckers on here for $100k+.