340700+ entries in 2.864s
dub: only
a few issuers have even posted pic of their shit
OneMiner: Damn, I'm going to bounce. I'd love to stay and talk.... Good luck to everybody. I hope this can be less of
a train wreak than it sounds.
Diablo-D3: instead I doubled our mhash and only lost about
a third
agath: I understood that. But it's not the point. You wanted to do
a mining company, then why didn't you buy hardware for doing it instead of bonds? If you bought by that time, FPGAs would already have paid for theirselves..
Diablo-D3: I made decisions to make sure plan
A can happen with less money from investors.
Diablo-D3: mircea_popescu: except I never quit with plan
A mircea_popescu: this working on the observation that if i invite
a girl over for
a suck & fuck and instead
a fat dood shows up for
a stamp collection showdown i JUST KICK HIM OUT
mircea_popescu: actually as
a point of policy, it seems to me that if company ipos for plan
A and it fails to raise the funds, it just pays everony back and dissolves.
dub: Diablo-D3: and now people have
a much better understanding of your capabitlities to asses their investment
OneMiner: agath they always were. It's
a forgone conclusion. If bitcoin succeeds then there will be ASICs. The only way there won't be is if bitcoin flops, in that case we are all out our investments.
agath: anyway, it would have been far better to NOT DO ANYTHING and keep your funds for
a better time, instead of swapping that much and lose all the value.
dub: Diablo-D3: the only other way out of this fuckup you created was
a scammer tag
dub: Diablo-D3: in all honesty, while you should probably be making
a show of dissaproval, this is the best possible outcome for you
agath: I don't care if they went bankrupt: I didn't invest in
a FUND because I didn't want to.
agath: OneMiner: his company should have been
a MINING COMPANY, not
a FUND.
OneMiner: It makes sense to me that when the funding that was required for plan
A can't be raised you move on to plan B. I remember Diablo-D3 talking about buying bonds too. I'm sure he has been upfront about it.
OneMiner: To be fair Diablo couldn't have made
a DC with the funs he got from the IPO. He said he was going to make
a DC and mine. He ended up mining. Seems truthful to me.
Diablo-D3: no, we were raising
a million dollars.
agath: ... setting up
a SMALL datacenter costs $450.000 or more (redundant power, cooling, firefighting, security/anti-theft, racks.....)
nefario: this is
a large part of the problem
agath: and probably he never built
a datacenter.....
nefario: You did until
a few hours ago
nefario: Diablo-D3: the accounts need to be done by
a third party
nefario: Will also get
a balance sheet worked out
nefario: And to allow time for
a proper discussion
nefario: see if we can get
a profit and loss
OneMiner: Ok. Is there
a deadline for voting yet?
nefario: have you seen
a lot of trades of it recently
nefario: DMC shareholders are going to be given
a say in whether they want to keep him as operator of DMC
nefario: OneMiner: DMC shareholders have for weeks been badgering me to do something about Diablo-D3, I've suspended him from control of DMC and will initiate an investigation and
a vote
OneMiner: mircea_popescu I remember that. Seemed like
a way to generate hype.
Diablo-D3: mircea_popescu: thats
a different issue
mircea_popescu: Diablo-D3 was using
a non-market value based system to trade
OneMiner: Not that I know but it suggests to me that there was
a plan at the least.
Diablo-D3: mircea_popescu: who knows, pretty sure investors would have liked
a few hundred btc extra dividends
a month
OneMiner: What I don't get is how everybody knows who is competent or not? Maybe it was ham fisted or maybe it was
a super slick move.
Diablo-D3: mircea_popescu: am I the only one here who was expecting
a reasonable response?
Diablo-D3: its
a little late to run for the republican nomination this year, bro.
nefario: usagi is
a massive GLBSE supporter
nefario: you have cost him
a LOT of money
mircea_popescu: wait. is usagi
a shareholder by virtue of you GIVING him shares or by virtue of he BUYING them on the market ?
nefario: People seem to think that GLBSE is only
a market and that nothing should interfere in the market
nefario: it's up to the shareholders when there is
a vote
OneMiner: Perhaps this can go another way? Is it possible that there's
a middle ground here?
nefario: Diablo-D3 has never asked me for
a list of shareholders
nefario: who has
a right to know if someone owns their asset
Diablo-D3: OneMiner: if I continue with the dedi/cloud stuff, people are going to attack customers saying nefario said dmc was
a scam
dub: and you created
a mechanism for people to profit from swapping your worthless shares for mining bonds
Diablo-D3: I dropped the bonds at
a loss but kept it from destroying dmc
dub: the entire DMC idea is retarded and anyone with half
a clue can see this
OneMiner: Well, snap. In the event of
a default there wouldn't be mining hardware to sell. Yikes. I'll ask for pics if I decide to invest in one of these. :P
Diablo-D3: then they pyramid pay it out until they buy asic hardware at
a fraction of the cost
OneMiner: It's
a bet that network hashrate will reduce. Fixed mining is
a hedge.
Diablo-D3: that could have been
a 3000 BTC loss and I got out while doubling the mhash we had
Diablo-D3: I stopped it from becoming
a complete loss
Diablo-D3: 1mhs bonds went from the 0.30s down to the 0.10s over
a month period
assbot: Requesting data from GLBSE (might take
a while, also might return fishy results as it does not account for splits etc).
OneMiner: Do you have
a statement on the claim that you were devaluing DMC?
Diablo-D3: OneMiner: nefario was paid 20 btc to do
a job, and now hes defaulting on his contract
Diablo-D3: what, is he going to call up the company I was working
a reseller contract out with and steal the contract too/
Diablo-D3: nefario: and I demand you turn over
a list of shareholders and the number of shares they own
nefario: dub:
a lot of shareholders complained
nefario: if he is removed
a suitable replacement will be found, if we are unable to find
a replacement DMC will be liquidated and the funds returned to shareholders
OneMiner: Is there
a link that goes with this?
dub: goat and diablo having
a good old crank
Diablo-D3: and my one fucking chance to fix this shithole of
a planet, I lose that.
Diablo-D3: usagi: I could have had
a large company that helped
a lot of people
Diablo-D3: because Im not
a fucking asshole who pastes private logs on the forum.
jamie-lang: Now it's
a moderately large group of strange people
Diablo-D3: this used to be
a small group of really nice people
copumpkin: they even accuse me of being
a scamer!
Diablo-D3: you convinced me to burn
a bridge between me an obsi, you burned
a bridge when you threw me under that bus, and nefario cant even be trusted to do shit
copumpkin: Diablo-D3: I wouldn't take it too personally. It's
a raging lynchmob on there
Diablo-D3: I worked 2 fucking years trying to turn bitcoin into something that could do
a lot of good
copumpkin: but it's buried in
a sea of diarrhea
Diablo-D3: seeing as I was about to announce the deal on dedi/cloud shit, we could double down on asset purchases for
a short time
copumpkin: Diablo-D3: that's fine, I was just wondering whether that was
a glbse requirement or whether you chose to
copumpkin: so it's glbse that requires that you get
a shareholder vote for dividend changes?
copumpkin: furthermore, it's stupid for
a company to be able to vote on itself
copumpkin: it's just stupid for it to be
a shareholder vote
Diablo-D3: I cant take
a fucking shit without shareholder approval
copumpkin: it's
a management decision in real companies
Diablo-D3: copumpkin: because there were
a lot of cheap assets and we hit the market bottom
copumpkin: Diablo-D3: why was suspending dividends on DMC even
a vote?
Diablo-D3: even usagi, who I considered
a trusted advisor through me under the bus
copumpkin: Diablo-D3: we're all just props in
a massive scam against you
Diablo-D3: bitcoin was
a scam and I should have listened