Who is BTC Garden scammer? | Bitcointalksearch.org

Anunnaki

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Activity: 14

Merit: 0

Quote from: gog1 on August 15, 2013, 12:48:49 AM

Quote from: Anunnaki on August 15, 2013, 12:39:28 AM

Quote from: gog1 on August 15, 2013, 12:22:55 AM

Quote from: Anunnaki on August 15, 2013, 12:12:46 AM

Yianding is a policy arbitrager instead of pure scammer. He is clever enough to use the legal loopholes of bitcoin to make profits. Strictly speaking, corwdfunding is completely against present Chinese law. Therefore, he can extort the manager of BTC Garden in the disguise of law defender. This is a really bad start for all Chinese BTC companies because there will be another copycat sooner or later once Yianding succeeds. Now it seems that he wins his final prize because he successfully forced BTC Garden IPO-suspend. This is an unprecedented threaten for bitcoin society because the scammer now endanger the whole bitcoin stock system.

I'm sure SEC is also lurking somewhere

Fortunately, SEC does not have jurisdiction over Chinese citizens or Chinese companies. How can SEC regulate a non-US company with foreign shareholders?

they can seize the domain of the exchanges - I'm pretty sure there are US citizen using BTCT that participated in BTC Garden IPO

there are many challenges facing bitcoins

I just wrote a post about the legal risk of Chinese BTC Stocks. You can read it if you are interested.
https://bitcointalksearch.org/topic/m.2937084

gog1

hero member

Activity: 756

Merit: 500

Quote from: Anunnaki on August 15, 2013, 12:39:28 AM

Quote from: gog1 on August 15, 2013, 12:22:55 AM

Quote from: Anunnaki on August 15, 2013, 12:12:46 AM

Yianding is a policy arbitrager instead of pure scammer. He is clever enough to use the legal loopholes of bitcoin to make profits. Strictly speaking, corwdfunding is completely against present Chinese law. Therefore, he can extort the manager of BTC Garden in the disguise of law defender. This is a really bad start for all Chinese BTC companies because there will be another copycat sooner or later once Yianding succeeds. Now it seems that he wins his final prize because he successfully forced BTC Garden IPO-suspend. This is an unprecedented threaten for bitcoin society because the scammer now endanger the whole bitcoin stock system.

I'm sure SEC is also lurking somewhere

Fortunately, SEC does not have jurisdiction over Chinese citizens or Chinese companies. How can SEC regulate a non-US company with foreign shareholders?

they can seize the domain of the exchanges - I'm pretty sure there are US citizen using BTCT that participated in BTC Garden IPO

there are many challenges facing bitcoins

Anunnaki

newbie

Activity: 14

Merit: 0

Quote from: gog1 on August 15, 2013, 12:22:55 AM

Quote from: Anunnaki on August 15, 2013, 12:12:46 AM

Yianding is a policy arbitrager instead of pure scammer. He is clever enough to use the legal loopholes of bitcoin to make profits. Strictly speaking, corwdfunding is completely against present Chinese law. Therefore, he can extort the manager of BTC Garden in the disguise of law defender. This is a really bad start for all Chinese BTC companies because there will be another copycat sooner or later once Yianding succeeds. Now it seems that he wins his final prize because he successfully forced BTC Garden IPO-suspend. This is an unprecedented threaten for bitcoin society because the scammer now endanger the whole bitcoin stock system.

I'm sure SEC is also lurking somewhere

Fortunately, SEC does not have jurisdiction over Chinese citizens or Chinese companies. How can SEC regulate a non-US company with foreign shareholders?

gog1

hero member

Activity: 756

Merit: 500

Quote from: Anunnaki on August 15, 2013, 12:12:46 AM

Yianding is a policy arbitrager instead of pure scammer. He is clever enough to use the legal loopholes of bitcoin to make profits. Strictly speaking, corwdfunding is completely against present Chinese law. Therefore, he can extort the manager of BTC Garden in the disguise of law defender. This is a really bad start for all Chinese BTC companies because there will be another copycat sooner or later once Yianding succeeds. Now it seems that he wins his final prize because he successfully forced BTC Garden IPO-suspend. This is an unprecedented threaten for bitcoin society because the scammer now endanger the whole bitcoin stock system.

I'm sure SEC is also lurking somewhere

Anunnaki

newbie

Activity: 14

Merit: 0

Yianding is a policy arbitrager instead of pure scammer. He is clever enough to use the legal loopholes of bitcoin to make profits. Strictly speaking, corwdfunding is completely against present Chinese law. Therefore, he can extort the manager of BTC Garden in the disguise of law defender. This is a really bad start for all Chinese BTC companies because there will be another copycat sooner or later once Yianding succeeds. Now it seems that he wins his final prize because he successfully forced BTC Garden IPO-suspend. This is an unprecedented threaten for bitcoin society because the scammer now endanger the whole bitcoin stock system.

kokojie

legendary

Activity: 1806

Merit: 1003

Quote from: HeRetiK on August 12, 2013, 05:40:46 PM

Quote from: kokojie on August 12, 2013, 12:52:52 PM

They stated their IPO purpose on Chinese forum, their main purpose of the IPO is marketing, by having a publicly held security, they hope to spread the word about them and their hardware, so people will know to buy them when their hardware is available. (Actually now that I think about it, I suspect this entire IPO might just be a marketing stunt, since they said multiple times they don't need money).

I don't know, the IPO was basically free money for them (especially including the dilution clause). No matter how well off they already are, they could have always used the IPO money to increase the scale of their operation.

Yes, but again, they are already very well funded, the money from this IPO is just a "nice addition" to their already formidable warchest. Their main purpose is definitely not the money.

HeRetiK

legendary

Activity: 2912

Merit: 2066

Cashback 15%

Quote from: kokojie on August 12, 2013, 12:52:52 PM

They stated their IPO purpose on Chinese forum, their main purpose of the IPO is marketing, by having a publicly held security, they hope to spread the word about them and their hardware, so people will know to buy them when their hardware is available. (Actually now that I think about it, I suspect this entire IPO might just be a marketing stunt, since they said multiple times they don't need money).

I don't know, the IPO was basically free money for them (especially including the dilution clause). No matter how well off they already are, they could have always used the IPO money to increase the scale of their operation.

kokojie

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Activity: 1806

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Quote from: arnoldsz on August 12, 2013, 09:29:21 AM

Quote from: CMMPro on August 12, 2013, 07:42:38 AM

Quote from: Rawted on August 12, 2013, 03:58:50 AM

You guys really believe this story? Lol! Sounds like it was written by a 9 year old. Im sure the funds will be released any moment now..

+1, this is a really ridiculous story. It doesn't make sense at all.

I'm sure the real reason for shutting it down was a buyout or some other even more profitable direction for the company.

Interestingly they say they are continuing to develop product...I think that is the evidence we need to logically assume they obtained funding from some other source.

they don't have to, they have enough btc their own to support this business, since they are the earliest btc miners in China. this ipo is mainly intended to enlarge their influence, then to speed up their research. so they don't like too much risks on it

They stated their IPO purpose on Chinese forum, their main purpose of the IPO is marketing, by having a publicly held security, they hope to spread the word about them and their hardware, so people will know to buy them when their hardware is available. (Actually now that I think about it, I suspect this entire IPO might just be a marketing stunt, since they said multiple times they don't need money).

arnoldsz

newbie

Activity: 57

Merit: 0

Quote from: CMMPro on August 12, 2013, 07:42:38 AM

Quote from: Rawted on August 12, 2013, 03:58:50 AM

You guys really believe this story? Lol! Sounds like it was written by a 9 year old. Im sure the funds will be released any moment now..

+1, this is a really ridiculous story. It doesn't make sense at all.

I'm sure the real reason for shutting it down was a buyout or some other even more profitable direction for the company.

Interestingly they say they are continuing to develop product...I think that is the evidence we need to logically assume they obtained funding from some other source.

they don't have to, they have enough btc their own to support this business, since they are the earliest btc miners in China. this ipo is mainly intended to enlarge their influence, then to speed up their research. so they don't like too much risks on it

CMMPro

hero member

Activity: 588

Merit: 500

Quote from: Rawted on August 12, 2013, 03:58:50 AM

You guys really believe this story? Lol! Sounds like it was written by a 9 year old. Im sure the funds will be released any moment now..

+1, this is a really ridiculous story. It doesn't make sense at all.

I'm sure the real reason for shutting it down was a buyout or some other even more profitable direction for the company.

Interestingly they say they are continuing to develop product...I think that is the evidence we need to logically assume they obtained funding from some other source.

arnoldsz

newbie

Activity: 57

Merit: 0

Quote from: viktorzhong on August 12, 2013, 04:51:36 AM

Yes, yianding is a pro scammer. The chinese police just ignores the cases against him bc the sum is not large engough.
He was also reported making a phishing Ripple website(4ripple.com):
https://bitcointalksearch.org/topic/ripplecn-204201

Chinese police are greedy and stupid, and 60% of their funds come from fines of whores and whoremasters

viktorzhong

newbie

Activity: 12

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Yes, yianding is a pro scammer. The chinese police just ignores the cases against him bc the sum is not large enough.
He was also reported making a phishing Ripple website(4ripple.com):
https://bitcointalksearch.org/topic/ripplecn-204201

Rawted

hero member

Activity: 742

Merit: 500

You guys really believe this story? Lol! Sounds like it was written by a 9 year old. Im sure the funds will be released any moment now..

drawingthesun

legendary

Activity: 1176

Merit: 1015

So China really is a place where no proper business can take place? One man can destroy an entire company on rumor alone?

Makes all these Chinese companies even riskier to invest it. The law is obviously designed to suit the criminals. Its a shame how a whole nation is entirely defined by its corruption and disregard for fellow citizens trying to do well.

I don't believe in Karma unfortunately, if I did I could sleep well knowing this scammer would be hit by a bus tomorrow.

dexX7

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Here you go:

https://bitcointalksearch.org/user/yianding-109596

Wink

Quote from: ronaldlee0917 on August 06, 2013, 01:22:01 PM

Exactly. He was trying to scam BtcGarden into buying back his "shares" which he allegedly does not own any at all. He was angered BtcGarden did not send the bitcoins first and fall to his trap, so he retaliated by spreading false rumours and tarnish the reputation of BtcGarden. Morever he had a long history of scamming people, spreading trojans, so what he said could be safely ignored.

At first he appeared and created a thread called "BTCGARDEN fraud investigation".

He announced in the chinese subforum that "burnside stopped GARDEN" when there was the lock issue.

According to some users he is a well known scammer.

Quote from: ronaldlee0917 on August 06, 2013, 01:06:09 PM

He is a well-known cyber-criminal, just ignore him.
https://bitcointalksearch.org/topic/m.2876572

Another BTCMAN mod (called nightcat) confirmed this.

karsy

full member

Activity: 383

Merit: 100

This is true. No, you have to manipulate someone enough so they will report your false info to the police. As this market would be in grave danger as a whole if this action weren't taken.

drawingthesun

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Activity: 1176

Merit: 1015

A entire IPO has been cancelled because of 1 low life scum according to https://bitcointalksearch.org/topic/btctco-ipo-cancelled-btcgarden-miner-eyes-to-the-horizon-264696

If this is true can someone please post all of his details here? Hopefully someone will find him and report him.

If this is not true then why did BTC Garden decide to close?

Does this mean I could end a entire IPO by being a douche on the internet?

Topic: Who is BTC Garden scammer? (Read 1976 times)