Should Giga be tagged as a scammer? - page 13.

DannyM

sr. member

Activity: 275

Merit: 250

Quote from: Bitcoin Oz on November 23, 2012, 08:32:23 PM

If he has the list of shareholders and refuses to pay them back as per the original contract then yes.

It isn't possible to buy out the shareholders per the original contract, because that specified the highest traded price, which doesn't exist, as the basis. Unless you want to take the tiny value based on the mpex price.

matthewh3

legendary

Activity: 1372

Merit: 1003

I agree he should offer to buy them back. Just plain old stealing them shows how much of a scam it is.

Martin666

newbie

Activity: 49

Merit: 0

This was the old contract:

Hello fellow bitcoiners,

Off the back of the glbse 2.0 release and with a soon to be influx of mining equipment, I am proud to release the first and ONLY 5Mh/s perpetual mining bond.

Introduction:
Mining assets are becoming extremely common on the GLBSE. We have companies that offer ownership of hardware, bonds that correlate to actual hash rate. But overall nothing too exciting, too large, or too profitable.

Until now.
Introducing Gigamining! http://gigamining.com/

The ONLY 5Mh/s perpetual mining bond.

The first bond to offer more than 2 Mh/s per bond, and run by a name you know has the hashes to back it up.

Summary:
There will be a total of 10,000 bonds issued, with each bond worth a massive 5 Mh/s.

During the initial offering of 1000 bonds the 500 bonds remaining will be sold on 4/10/2012, they will be sold for a cheap 1 BTC. All maintenance free.

Bulk pre-sales of 100 or more units can be made at the 1 BTC price BEFORE the IPO on 4/10. PM me to get started.

Each bond will pay 100% of PPS earnings every 7 days.

The bond will never expire.

I reserve the option to repurchase bonds at 105% of the highest traded price over the last 15 days.

About Me
Most of you know who I am, most of you know I have the ability to deliver this kind of power. I'm not going anywhere any time soon, so trust that your coin is safe, and doing its best work for you, here. If you have any questions, ask them in the thread.

Where is 50Gh going to come from?
- I currently run 33Gh in GPUs (undervolted and underclocked to 26.5Gh for the summer)
- I also run 11 Butterfly Labs singles @ 9.1Gh
- Soon 4 mini rig boxes will arrive with a total of 100Gh of mining capacity.

You can see the farm mining at anytime at http://gigamining.com/mgpumon/

Best,
gigavps

thx theymos: https://bitcointalk.org/index.php?topic=75802.1280

He cannot just change the mining contract in his favours !
Thus the contract is void and he should repurchase bonds...

matthewh3

legendary

Activity: 1372

Merit: 1003

Quote from: BTCHero on November 23, 2012, 08:54:23 PM

If you were in his position (well known, large amounts of money) and everyone had some 3 letter agency (IRS, FBI, and SEC) after them would you cover all of your bases in a similar manner? Bitcoinland isn't the same as it used to be, this isn't free for all anonymous fest anymore.

So I vote No.

But I also say that's really shitty maaaannnnn.

I'm sure he could have set up a third party to proxy all the shareholders who couldn't submit that info if he wanted to but the greed of keeping more of his asset for free which was paid for by investors kicked in. The third party could even list all those shares on - https://btct.co

BTCHero

newbie

Activity: 57

Merit: 0

If you were in his position (well known, large amounts of money) and everyone had some 3 letter agency (IRS, FBI, and SEC) after them would you cover all of your bases in a similar manner? Bitcoinland isn't the same as it used to be, this isn't free for all anonymous fest anymore.

So I vote No.

But I also say that's really shitty maaaannnnn.

Bitcoin Oz

hero member

Activity: 686

Merit: 500

Wat

If he has the list of shareholders and refuses to pay them back as per the original contract then yes.

Daily Anarchist

hero member

Activity: 614

Merit: 500

I vote for scammer tag. You don't go into something with somebody and then change the rules on them and make them jump through a bunch of hoops to get their money back.

conspirosphere.tk

legendary

Activity: 2352

Merit: 1064

Bitcoin is antisemitic

Background:
https://bitcointalksearch.org/topic/m.1353074

Topic: Should Giga be tagged as a scammer? - page 13. (Read 17449 times)