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mircea_popescu: i'm not pulling anything. you expect something to happen. i ask why,. you say cause you expect it. i say ok.
mircea_popescu: it didn't work out. that's business. no point in raising nonsensical arguments out of it.
mircea_popescu: looky. had you gotten lucky and things went smooth with giga, you'd have made some money, i imagine.
mircea_popescu: on the theory that then you can claim vague should be construed in your favour ?
mircea_popescu: so you bought a distressed asset on a vague contract and didn't ask
mircea_popescu: <mircea_popescu> but to the point : when did you actually buy these shares ? <<<
mircea_popescu: but to the point : when did you actually buy these shares ?
mircea_popescu: anyway, the fiduciary duty is mostly : to not have conflicting duties, to not profit by fiduciary position
mircea_popescu: Namjies when did you buy these ? (i presume you actually have some ?)
mircea_popescu: heh. i don't think you can get that much mileage out of this.
mircea_popescu: eventually someone brings asics to the table. maybe not this month, maybe not the next.
mircea_popescu: by the time the stuff is actually processed and alll... heh.
mircea_popescu: i'd be much surprised if the entire series is actually worth 300 btc right now.
mircea_popescu: which, because of it's nature, imposes a cost on my part, which isn't trivial, cause i have to put lawyers at work.
mircea_popescu: well, he's asking to identify myself in a particular way
mircea_popescu: and if tomorrow gigavps comes up with a 10x dividend payment if i sleep with him, irrespective of what you may think my duty is, i ain't sleeping with him either.
mircea_popescu: it doesn't say "all revenue paid will be distributed and all revenue offered for claim will be claimed"
mircea_popescu: there you go. did i receive revenue i've not distributed ?
mircea_popescu: where in the contract does it say that "even if more fees, costs or proceedures will be imposed, the issuer will complete these"
mircea_popescu: srsly, just because you imagine things a certain way doesn't mean they are a certain way.
mircea_popescu: the practical options are either i spend something which on a rough estimate is about 8k to get the thing thoroughly looked into,
mircea_popescu: Namjies : i'm not doing affidavits as a proxy for anyone just cause you figure i should.
mircea_popescu: o hey, right under $$$ $AVE WITH CLEAN AZ CARPET CLEANING
mircea_popescu: i guess i could do that, but then i'd have to make shareholders pay the difference somehow.
mircea_popescu: really, the cost to me to get to the legal bottom of this would easily eat up the value of the etf
mircea_popescu: other, of course, the fact that he's not so far sending money.
mircea_popescu: you've made some presupositions which aren't borne by the facts, but would prefer to present these as fact.
mircea_popescu: or that in the event that glbse goes away, issuer will do "anything" or "do X" to obtain private registration
mircea_popescu: that in the event glbse goes away the thing still carries as if nothing happened.
mircea_popescu: no, the question is, do you have a statement from the issuer of the thing you're discussing saying that the thing you're discussing is going to behave in the manner you're proposing.
mircea_popescu: well, they in principle don't have to, all things are in principle possible. these, however, were.
mircea_popescu: The owner of this ETF holds 900 perpetual 5.0Mh/s bonds (details),
mircea_popescu: well, it had a (details) clause that included all that.
mircea_popescu: Namjies suppose for the sake of argument gigavps simply asked for 1 penny per share registration fee.
mircea_popescu: well, "an" is inappropriate, and mpex comparison is inappropriate.
mircea_popescu: depends how contracts are made out, but i'd expect mpex-share derivatives to die there yes
mircea_popescu: i don't think you get to randomly create an imaginary vehicle just because the actual vehicle imploded.
mircea_popescu: no preparation of legal documents and mailing, no other random shit.
mircea_popescu: thus, no collect money from investors -> make upgrades
mircea_popescu: it wasn't an instrument to jump through random hoops and then pass along the value thus obtained.
mircea_popescu: the problem here is this : the etf was an instrument to pass along value as conveyed
mircea_popescu: we're not in backwards world, we're in straightwards world. why would it be made ?
mircea_popescu: any newspaper has to do 1.5x more than any blog for the same attention.
mircea_popescu: there's no newspaper in the world that can compete with the top blogs. in any respect.
mircea_popescu: ftr, the entire "blogs are not a source" like of wikipedia, while they take utter junk such as news sites into account...
mircea_popescu: Born in 2007 as a Second Life insurance company, The Rock has evolved in a full featured virtual financial institution. Based in US, founded by EU citizens, run by long-standing virtual experts.
mircea_popescu: smickles i'd guess it's anywhere from free to 50 or so euros here