Post
Topic
Board Bitcoin Discussion
Re: Greg Maxwell aka /u/nullc is banned from Reddit
by
gmaxwell
on 07/12/2016, 01:59:56 UTC
GMAX was sent a refund check for 105% of the purchase price, but was too pure (IE stubborn) to cash it and thus admit the once-popular 'we-all-deserve-windfall-refunds' entitlement theory is flawed.


I have a written contract from hashfast saying that if they failed to deliver I would receive a full refund of the amount of BTC paid. I directly reached out to Simon Barber to double check this fact, due to the frequent mining scams that had previously happened where there was no intention to create mining hardware but simply to refund "dollars" if Bitcoin appreciated, and Bitcoins if the market moved the other direction. Cypherdoc also confirmed hashfast's refund policies in public.  Without those assurances I never would have made a purchase, just as I never purchased from BFL, and the same is true for many other early hashfast buyers.

What you call a "windfall" was a significant loss (something like 80%? I don't recall) in fact, beyond what hashfast had promised. This isn't just me yapping-- a california court also held that there was significant evidence of fraudulent behavior on this point.

The questions are simple: Did hashfast promise early buyers that they were externally funded without need of customer funds to build goods, and that in the event of a failure to deliver they'd simply return the Bitcoin paid? Yes.  Did Cypherdoc get paid 3000 BTC (even of his agreement worth  _over three hundred of thousand dollars_) to make a couple dozen forum posts laying out his reputation vouching for the operation? Yes. Did people rely on Hashfast and its agents promises and send them funds instead of other oppturnities (such as sitting on them, or spending them with other mining operations)? Obviously. Did the operation substantially both fail to deliver and fail to return the payments to the customers it agreed to do that with? Yes.  Did Cypherdoc's removal of 3000 BTC from the organization make it physically impossible for them to return the Bitcoins-- it appears so.  Did Cypherdoc lie to myself and others about his level of involvement (claiming to have lost funds) until forced to tell the truth by a California court? Yes. Could Cyperdoc largely have recovered much of his reputation by voluntarily returning the funds he removed to the bankruptcy or the customers, minus an actually reasonable payment for a few hours of message posting-- quite likely.

Quote
It's very fitting that this illegal and obnoxious pattern of behavior brought down the Reddit
Cypherdoc has repeated posted my personal information gleamed from hashfast records, including my shipping address-- great fodder for the nutbags threatening my life, no doubt--  If he thought any of my behaviors were illegal he'd certainly be able to begin litigation.  Give me a break.

The guy traded his reputation for a huge windfall, he has nothing to cry about.  No one's reputation is worth anything if someone's reputation isn't trashed if they put it on the line to promote something and that thing turns out to be a major loss for all involved. That is what you paid him for, unless you want to argue that he was paid 3000 BTC for something _other_ than putting a valuable reputation on the line? (such as, say, tunneling funds out of the company?).   Besides, regardless of the shenanigans at hashfast, he directly lied to me-- claiming that he was just another customer paid by discounted units, which never shipped leaving him at a loss too-- to try to evade a reputational hit. On that basis alone I don't have any reservation in saying that he's a dishonest coward.  

And bringing it back on-topic-- AFAICT, there is NO post on Reddit where I disclose any personal information about him. And the reddit administration already confirmed that the issue in question was the gavinandresen@gmail.com email address.