The Bitcoin Securities investigation is being handled by the Division of Enforcement.
This article and the activities it mentions occurred within the Trading and Markets division (as is says in the first line of the article if you bothered to read it).
Topic: The pirate and the SEC - Alleged e-mails. (Read 21333 times)
Maybe this is why nothing seems to be happening on the SEC front:
http://www.techdirt.com/articles/20121113/16501921036/sec-porn-surfing-down-waste-up-stunning-disregard-basic-computer-security.shtml
http://www.techdirt.com/articles/20121113/16501921036/sec-porn-surfing-down-waste-up-stunning-disregard-basic-computer-security.shtml
Or the obvious topic under discussion, which is that there is a seizure or receivership.
It's unlikely he'd have any advance notice of a seizure. Receivership's a possibility if GPUMax has secured creditors, although why not immediately rather than in 5 days? Or he could just be shutting up shop and claiming there are new owners to fuck with people's heads. As with everything else pirate-related, people can do little but wait and see what plays out.
s/seizure/forfeiture/ is actually what I meant. There is a time I should go to bed. :-)
Or the obvious topic under discussion, which is that there is a seizure or receivership.
It's unlikely he'd have any advance notice of a seizure. Receivership's a possibility if GPUMax has secured creditors, although why not immediately rather than in 5 days? Or he could just be shutting up shop and claiming there are new owners to fuck with people's heads. As with everything else pirate-related, people can do little but wait and see what plays out.
Yeah that pretty much says it. LOL
Not necessarily. My understanding is that LLC members are the equivalent of shareholders - which means that in addition to being able to sell their interest under the terms of the LLC, they may be able to give them away or swap them. It's not exactly the same thing, but remember that the Intersango guys got their interest in by swapping 250 Intersango shares for a combined interest of 25% in Bitcoinica LP. While pirate definitely seems like the type to take money wherever it can be found, the possibility exists that the "new owners" didn't buy GPUMax with cash.
Or the obvious topic under discussion, which is that there is a seizure or receivership.
Yeah that pretty much says it. LOL
Not necessarily. My understanding is that LLC members are the equivalent of shareholders - which means that in addition to being able to sell their interest under the terms of the LLC, they may be able to give them away or swap them. It's not exactly the same thing, but remember that the Intersango guys got their interest in by swapping 250 Intersango shares for a combined interest of 25% in Bitcoinica LP. While pirate definitely seems like the type to take money wherever it can be found, the possibility exists that the "new owners" didn't buy GPUMax with cash.
For those who don't follow the mining forums.
GPUMAX will be down on 10/08 at 12:00 AM CST. The system may or may not come back up depending on the new owners.
Screenshot from reddit
https://i.imgur.com/yJV70.png
Quote from: gigavps
Per the #gpumax channel topic on freenode:
Quote from: pirateat40
Screenshot from reddit
https://i.imgur.com/yJV70.png
So the owners of GPUMAX are selling?
Wow...lol what bullshit....both entities were linked through financial means for sure.
Doesn't say anything about selling.
Yeah that pretty much says it. LOL
For those who don't follow the mining forums.
GPUMAX will be down on 10/08 at 12:00 AM CST. The system may or may not come back up depending on the new owners.
Screenshot from reddit
https://i.imgur.com/yJV70.png
Quote from: gigavps
Per the #gpumax channel topic on freenode:
Quote from: pirateat40
Screenshot from reddit
https://i.imgur.com/yJV70.png
So the owners of GPUMAX are selling?
Wow...lol what bullshit....both entities were linked through financial means for sure.
Doesn't say anything about selling.
bitcoin has no backer and thus no rules.
bitcoin, like anything of value, has some inherent 'rules' (even if they're not RULES, still expectations, and laws that apply to it). If you steal, you're breaking one of those rules.
and governments are charged with maintaining law and order, and should do so whether or not they benefit from taxation of a certain resource. imo.
fair enough, still why is it the SEC? This is on par with defrauding people of millions of pokemon cards.
Defrauding people millions of pokemon cards - Not SEC
Setting up unregistered pokemon card securities and selling them to unsophisticated investors - Possibly SEC.
Ironically if the SEC shuts down glbse and prevents the remaining securities from managing their shareholders that will cause a greater loss than pirate
And here I thought these forums were caveat emptor. The moment you lose, though, you run crying to the Big Government you hate so much to clean up your mess for you. I guess you'll start paying taxes on your bitcoin earnings now that you're defending them with federal socialized resources.
This. Bitcoin is not a government backed currency, that's cool and all, but then why should the government give a flip about it? I mean no one is really paying taxes on bitcoin. I'm not here to talk about the inherent value fiat currency or anything, fiat currency and bitcoins are equally worthless. The government is backing their fiat currency however, so they can apply whatever rules they want to it, bitcoin has no backer and thus no rules.
This whole situation reminds me of the simpsons episode where homer is sent out to hide as a missionary. When trying to get out of becoming a missionary he says "but I don't even believe in Jebus" but the reverend shoves him on the plane anyway, as the plane is taking off homer yells "HELP ME JEBUS!"
Do you really want people killing each other because there is no other way to get justice ? Governments are supposed to exist to provide a justice system at least so people dont resort to pulling guns on each other. Absent this check and balance you get warlordism and "natural justice", eye for an eye kind of thing. You cant tell people not to do that sort of justice if at the same time you wont let them use the government...
For those who don't follow the mining forums.
GPUMAX will be down on 10/08 at 12:00 AM CST. The system may or may not come back up depending on the new owners.
Screenshot from reddit
https://i.imgur.com/yJV70.png
Quote from: gigavps
Per the #gpumax channel topic on freenode:
Quote from: pirateat40
Screenshot from reddit
https://i.imgur.com/yJV70.png
So the owners of GPUMAX are selling?
Wow...lol what bullshit....both entities were linked through financial means for sure.
For those who don't follow the mining forums.
GPUMAX will be down on 10/08 at 12:00 AM CST. The system may or may not come back up depending on the new owners.
Screenshot from reddit
https://i.imgur.com/yJV70.png
Quote from: gigavps
Per the #gpumax channel topic on freenode:
Quote from: pirateat40
Screenshot from reddit
https://i.imgur.com/yJV70.png
bitcoin has no backer and thus no rules.
bitcoin, like anything of value, has some inherent 'rules' (even if they're not RULES, still expectations, and laws that apply to it). If you steal, you're breaking one of those rules.
and governments are charged with maintaining law and order, and should do so whether or not they benefit from taxation of a certain resource. imo.
fair enough, still why is it the SEC? This is on par with defrauding people of millions of pokemon cards.
Defrauding people millions of pokemon cards - Not SEC
Setting up unregistered pokemon card securities and selling them to unsophisticated investors - Possibly SEC.
fair enough, still why is it the SEC? This is on par with defrauding people of millions of pokemon cards.
I guess that's up to the SEC to decide or argue that it's in their jurisdiction. It seems they may have initiated this on their side. I think it could very well apply, though I imagine the community of bitcoiners won't all agree on if it's a good precedent. That's a whole other story, though.
bitcoin has no backer and thus no rules.
bitcoin, like anything of value, has some inherent 'rules' (even if they're not RULES, still expectations, and laws that apply to it). If you steal, you're breaking one of those rules.
and governments are charged with maintaining law and order, and should do so whether or not they benefit from taxation of a certain resource. imo.
fair enough, still why is it the SEC? This is on par with defrauding people of millions of pokemon cards.
bitcoin has no backer and thus no rules.
bitcoin, like anything of value, has some inherent 'rules' (even if they're not RULES, still expectations, and laws that apply to it). If you steal, you're breaking one of those rules.
and governments are charged with maintaining law and order, and should do so whether or not they benefit from taxation of a certain resource. imo.
And here I thought these forums were caveat emptor. The moment you lose, though, you run crying to the Big Government you hate so much to clean up your mess for you. I guess you'll start paying taxes on your bitcoin earnings now that you're defending them with federal socialized resources.
This. Bitcoin is not a government backed currency, that's cool and all, but then why should the government give a flip about it? I mean no one is really paying taxes on bitcoin. I'm not here to talk about the inherent value fiat currency or anything, fiat currency and bitcoins are equally worthless. The government is backing their fiat currency however, so they can apply whatever rules they want to it, bitcoin has no backer and thus no rules.
This whole situation reminds me of the simpsons episode where homer is sent out to hide as a missionary. When trying to get out of becoming a missionary he says "but I don't even believe in Jebus" but the reverend shoves him on the plane anyway, as the plane is taking off homer yells "HELP ME JEBUS!"
A little gasoline for this fire?
Anybody remember when the wheels were coming off this pirate thing how he was demanding all investor's details through his secret group of Pass Through Pimps on OTC? Remember seeing those logs where he demand individual contact and account details?
Anybody want to take a guess why those might have been important now? Think maybe somebody was already selling his ass to the SEC? Think maybe pirate has a relationship with the SEC and/or the DEA since he has ties with SR?
Anybody remember when the wheels were coming off this pirate thing how he was demanding all investor's details through his secret group of Pass Through Pimps on OTC? Remember seeing those logs where he demand individual contact and account details?
Anybody want to take a guess why those might have been important now? Think maybe somebody was already selling his ass to the SEC? Think maybe pirate has a relationship with the SEC and/or the DEA since he has ties with SR?
The amount of information pirateat40 was requesting was just enough for him to pay the investors directly and fell far short of what the IRS routinely requires a payer in the United States to collect. My conclusions were that pirateat40's motivation here although sinister had little to do with any US government agency.
By the way the SEC not withstanding I do not believe we have heard the last of pirateat40 and his attempted manipulations of the Bitcoin market.
A little gasoline for this fire?
Anybody remember when the wheels were coming off this pirate thing how he was demanding all investor's details through his secret group of Pass Through Pimps on OTC? Remember seeing those logs where he demand individual contact and account details?
Anybody want to take a guess why those might have been important now? Think maybe somebody was already selling his ass to the SEC? Think maybe pirate has a relationship with the SEC and/or the DEA since he has ties with SR?
Yup. It was pretty much apparent he was working with the feds at that point. There was absolutely no reason why he would have needed that info for anything else. If he really wanted to pay people back, he could have just put up a 1.00 BTC bid wall for the pass-through securities. It was painfully apparent that he had no intention of paying anything back. Anybody remember when the wheels were coming off this pirate thing how he was demanding all investor's details through his secret group of Pass Through Pimps on OTC? Remember seeing those logs where he demand individual contact and account details?
Anybody want to take a guess why those might have been important now? Think maybe somebody was already selling his ass to the SEC? Think maybe pirate has a relationship with the SEC and/or the DEA since he has ties with SR?
A little gasoline for this fire?
Anybody remember when the wheels were coming off this pirate thing how he was demanding all investor's details through his secret group of Pass Through Pimps on OTC? Remember seeing those logs where he demand individual contact and account details?
Anybody want to take a guess why those might have been important now? Think maybe somebody was already selling his ass to the SEC? Think maybe pirate has a relationship with the SEC and/or the DEA since he has ties with SR?
Anybody remember when the wheels were coming off this pirate thing how he was demanding all investor's details through his secret group of Pass Through Pimps on OTC? Remember seeing those logs where he demand individual contact and account details?
Anybody want to take a guess why those might have been important now? Think maybe somebody was already selling his ass to the SEC? Think maybe pirate has a relationship with the SEC and/or the DEA since he has ties with SR?
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