Neo & Bee talk (spam free thread) - page 44.

NotLambchop

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Quote from: mmeijeri on April 04, 2014, 12:02:30 PM

Quote from: NotLambchop on April 04, 2014, 11:57:17 AM

To sum up:
Uninsured pegged accounts with all the drawbacks of conventional banks + uninsured.
Extra fees for using Bitcoin.
Not a bank.
Roll Eyes

You keep coming back to the pegged accounts. That's the only part that had the disadvantages of a bank. I'm talking about the rest of their activities. Also: even the pegged accounts could have limited counterparty risk to the peg itself, with the peg itself being conditional on the BTC being released to Neo. Then they still couldn't have run off with your BTC.

Look, i ~~made~~ tried to make it clear with the "saving kittens" bit. If a slaughterhouse lists "saving kittens" as a part of its business model, it neither stops being a slaughterhouse, nor does it explain how it intends to make money by saving kittens.
And yes, many hypotheticals could be created where Neo is a good thing. Sure, money could be made with honest money services -- it happens. Unfortunately, nothing in the Neo prospectus describes how it plans to go about doing that. Don't send your coin to strangers who make nice sounding vague promises.

mmeijeri

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Martijn Meijering

Quote from: NotLambchop on April 04, 2014, 11:57:17 AM

To sum up:
Uninsured pegged accounts with all the drawbacks of conventional banks + uninsured.
Extra fees for using Bitcoin.
Not a bank.
Roll Eyes

You keep coming back to the pegged accounts. That's the only part that had the disadvantages of a bank. I'm talking about the rest of their activities. Also: even the pegged accounts could have limited counterparty risk to the peg itself, with the peg itself being conditional on the BTC being released to Neo. Then they still couldn't have run off with your BTC.

waveofuture

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Activity: 15

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Quote from: NotLambchop on April 04, 2014, 11:58:50 AM

Nah. Moar like ur a professional rube who don't quite logic.

Ok, dude. Ok. You're brilliant and your intelligence is beyond the pale of anyone on the Earth. You can't lower your self to accepting that the shit you say may possibly be wrong. Because, well... you're just, like, the most brilliant person ev4r.

Edit: Your hubris, egotistical on-line personality seethes through your posts. Quite off-putting. If you want to help people, make friends, sound the alarm, I recommend you find another way to behave. Because, at this rate, I don't know if you're just a fucking jack-ov that likes to speak negatively about people and bitcoin for fun, or someone truly interested in the success of bitcoin. Since there's confusion on my part, that doesn't bode well for you, as if you were one to truly care about bitcoin's success, I don't think you'd behave the way you do (in this thread, with me, at least).

NotLambchop

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Quote from: waveofuture on April 04, 2014, 11:54:46 AM

Quote from: NotLambchop on April 04, 2014, 11:48:06 AM

You claimed that this "investment" was not a disaster for u.
I offered an apology. Apparently losing money and bad press 4 Bitcoin are a desirable outcome 4 u.
Where do you see a problem?

Well, from the onset of this exchange between you and I, I clearly stated that we're both working off of incomplete information.

Nevertheless, we seem to be holding this conversation from different starting points. Your above post is totally wrong and another twisting of the issue. You're like a professional spinner, either intentionally or unintentionally.

Nah. Moar like ur a professional rube who don't quite logic.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: mmeijeri on April 04, 2014, 11:52:16 AM

Quote from: NotLambchop on April 04, 2014, 11:42:36 AM

Care to sum up their goals, along with how profit was going to be generated by achieving those goals? The TL;DR i could see is all of the bad qualities of a bank ("running off with the fiat") were compounded by "the customer is 100% uninsured."

That only applies to the pegged accounts. For BTC accounts the promise was Bitcoin payments with the convenience of electronic euro payments, including protection from theft, combined with a protection from bail-ins. In order to run a profit they'd have to charge fees, just like banks.

To sum up:
Uninsured pegged accounts with all the drawbacks of conventional banks + uninsured.
Extra fees for using Bitcoin.
Not a bank.
Roll Eyes

waveofuture

newbie

Activity: 15

Merit: 0

Quote from: NotLambchop on April 04, 2014, 11:48:06 AM

You claimed that this "investment" was not a disaster for u.
I offered an apology. Apparently losing money and bad press 4 Bitcoin are a desirable outcome 4 u.
Where do you see a problem?

Well, from the onset of this exchange between you and I, I clearly stated that we're both working off of incomplete information.

Nevertheless, we seem to be holding this conversation from different starting points. Your above post is totally wrong and another twisting of the issue. You're like a professional spinner, either intentionally or unintentionally.

mmeijeri

hero member

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Martijn Meijering

Quote from: NotLambchop on April 04, 2014, 11:42:36 AM

Care to sum up their goals, along with how profit was going to be generated by achieving those goals? The TL;DR i could see is all of the bad qualities of a bank ("running off with the fiat") were compounded by "the customer is 100% uninsured."

That only applies to the pegged accounts. For BTC accounts the promise was Bitcoin payments with the convenience of electronic euro payments, including protection from theft, combined with a protection from bail-ins. In order to run a profit they'd have to charge fees, just like banks.

NotLambchop

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Activity: 378

Merit: 254

Quote from: waveofuture on April 04, 2014, 11:40:19 AM

Quote from: NotLambchop on April 04, 2014, 11:29:47 AM

If losing money while contributing to mainstream negativity is your idea of success, I apologise.

I would say you haven't an idea of bitcoin's capabilities and breadth, but I don't think that's true.

Oh, so now that I'm posting on a message board and holding "conversations" regarding a matter within the bitcoin community AND not speaking entirely positive on the matter, that's ... that's the problem. Ok? You aren't even sticking to your original assertion from your preceding post. You aren't maintaining any consistency, Chop. In your previous post you stated that this is "disastrous" for me, I rebutted the only way possible at this time, yet you don't acknowledge it and reply with some notion that because I'm here posting in a less-than-positive manner means bitcoin is doomed? I don't understand? I'm not going to be blind to the issues or problems with bitcoin and/or Neo & Bee - as in, stick my head in the sand. Is that what you're advocating? Of course not. So, again, your post is illogical.

You claimed that this "investment" was not a disaster for u.
I offered an apology. Apparently losing money and bad press 4 Bitcoin are a desirable outcome 4 u.
Where do you see a problem?

P.S: Taking the outlandishly improbable hypothetical -- NeoBee succeeds beyond your wildest dreams: Your "investment" could now be bought at a tiny fraction of the coin you have invested. Tiny. So there is no question of losses here, only whether your losses are total.

NotLambchop

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Merit: 254

Quote from: mmeijeri on April 04, 2014, 11:38:14 AM

Quote from: NotLambchop on April 04, 2014, 11:29:47 AM

@mmeijeri: As I said, "...everything other than..."

I wasn't sure you had the right number of negatives in there. I don't understand how you can complain Neo was going to have the bad properties of banks. Their goals were sound.

Care to sum up their goals, along with how profit was going to be generated by achieving those goals? The TL;DR i could see is all of the bad qualities of a bank ("running off with the fiat") were compounded by "the customer is 100% uninsured."

waveofuture

newbie

Activity: 15

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Quote from: NotLambchop on April 04, 2014, 11:29:47 AM

If losing money while contributing to mainstream negativity is your idea of success, I apologise.

I would say you haven't an idea of bitcoin's capabilities and breadth, but I don't think that's true.

Oh, so now that I'm posting on a message board and holding "conversations" regarding a matter within the bitcoin community AND not speaking entirely positive on the matter, that's ... that's the problem. Ok? You aren't even sticking to your original assertion from your preceding post. You aren't maintaining any consistency, Chop. In your previous post you stated that this is "disastrous" for me, I rebutted the only way possible at this time, yet you don't acknowledge it and reply with some notion that because I'm here posting in a less-than-positive manner means bitcoin is doomed? I don't understand? I'm not going to be blind to the issues or problems with bitcoin and/or Neo & Bee - as in, stick my head in the sand. Is that what you're advocating? Of course not. So, again, your post is illogical.

mmeijeri

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Martijn Meijering

Quote from: NotLambchop on April 04, 2014, 11:29:47 AM

@mmeijeri: As I said, "...everything other than..."

I wasn't sure you had the right number of negatives in there. I don't understand how you can complain Neo was going to have the bad properties of banks. Their goals were sound.

NotLambchop

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Activity: 378

Merit: 254

Quote from: waveofuture on April 04, 2014, 11:26:43 AM

Quote from: NotLambchop on April 04, 2014, 11:15:09 AM

I'm not interested in your motives -- this is finance, not Christianity. The results, on the other hand, are disastrous for you and detrimental to Bitcoin as a whole.

You are interested in my motives as evidenced by one of your previous posts. I'm not even going to go find it because you obviously don't remember. Obviously.

This is quite bad. I agree. That's one of the reasons I created an account. But, how do you know they're "disastrous" for me? You don't know that, because, uh, it isn't...?

If losing money while contributing to mainstream negativity is your idea of success, I apologize.

@mmeijeri: As I said, "...everything other than..."

mmeijeri

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Martijn Meijering

Quote from: NotLambchop on April 04, 2014, 11:18:31 AM

I'm referring to everything other than the ridiculous "because having your own bitcoin wallet is hard" wallets.

I'm not sure I understand what you mean. Having your own bitcoin wallet is kind of the point of Bitcoin, so you don't need a bank. At the same time it's totally true that having your own bitcoin wallet is hard. Fortunately, multisig wallets can help with that. And that's exactly what Neo said they were going to do. It was a great idea, it's still a great idea, others are working on it too, several have even deployed it already. It's very different from what banks do, in the sense that they cannot run off with the money. On the other hand, from a usability perspective it isn't so different. It gives you the best of both words. Neo was a great idea, but clearly Danny Brewster was not the man to run it. I'd love to know WTF went wrong.

waveofuture

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Quote from: NotLambchop on April 04, 2014, 11:15:09 AM

I'm not interested in your motives -- this is finance, not Christianity. The results, on the other hand, are disastrous for you and detrimental to Bitcoin as a whole.

You are interested in my motives as evidenced by one of your previous posts. I'm not even going to go find it because you obviously don't remember. Obviously.

This is quite bad. I agree. That's one of the reasons I created an account. But, how do you know they're "disastrous" for me? You don't know that, because, uh, it isn't...?

augustocroppo

vip

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Do not really matter... Anyone which invested in this fiasco is an accessory for a crime. Just a delusional investor would fund a fraudulent project like that. It is like to give money to someone reinvent the wheel. Whoever thought a company could create a new kind of bank based on Bitcoin deserve what is happening. The level of stupidity of people involved with Bitcoin is increasing in proportion to "mining" difficulty. The most funny part is the people wandering why the BTC/USD price is falling... Perhaps because the biggest Bitcoin fraudulent schemes are imploding?

Roll Eyes

NotLambchop

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Activity: 378

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Quote from: mmeijeri on April 04, 2014, 11:14:13 AM

Quote from: NotLambchop on April 04, 2014, 10:56:31 AM

@mmeijeri: If Neo said that along with being a bank, it would also rescue kittens, would that make Neo any less of a bank?

Well, I'd say they wouldn't really have been a bank. Or are you referring to the pegged accounts?

I'm referring to everything other than the ridiculous "because having your own bitcoin wallet is hard" wallets.

bite111

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You invested in Neo Bee?

NotLambchop

sr. member

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Quote from: waveofuture on April 04, 2014, 11:11:33 AM

Quote from: NotLambchop on April 04, 2014, 11:04:51 AM

TL;DR:
1. Repeat ad nauseum that I am illogical and offensive.
2. Provide no substance to back those claims.
3. Huh

4. PROFIT.

*I understand that my pointing out the absurdity of what you have done seems mean. I have tried logic and reason -- those fail with NeoBee investors. I later realized my folly -- I was trying to *explain* to the rats *why* certain behavior was undesirable. I'm now trying simple Pavlovian conditioning.

You're human. What more do you need? Maybe your posts that twist the circumstances like the mainstream news? Good one, dude/tte.

You make the point exquisitely with the above post.

You can't even address your inability to understand why I invested in Neo & Bee.

I'm not interested in your motives -- this is finance, not Christianity. The results, on the other hand, are disastrous for you and detrimental to Bitcoin as a whole. Please stop what you're doing. Do not want. BZZZZT!!!!

mmeijeri

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Martijn Meijering

Quote from: NotLambchop on April 04, 2014, 10:56:31 AM

@mmeijeri: If Neo said that along with being a bank, it would also rescue kittens, would that make Neo any less of a bank?

Well, I'd say they wouldn't really have been a bank. Or are you referring to the pegged accounts?

ex-trader

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All this talk of FUD and profits and share manipulation is utter meaningless nonsense.

Neo/Bee problems do not stem from FUD or share price movements, they are in the real world, where they screwed up. The same failure would have occurred without any of the threads or posts on this forum.

Topic: Neo & Bee talk (spam free thread) - page 44. (Read 261840 times)