Post
Topic
Board Securities
Re: [BTC-TC] Virtual Community Exchange w/ Options, DRIP, 2FA, API, CSV, etc.
by
burnside
on 13/09/2013, 05:24:06 UTC
I'd suspend it rather than totally delist it.  With criteria for going back live being:

1.  Provide proper accounting for the losses on LHCOIN and the plan going forward.
2.  Sort out the mess with his USD/LTC exchange (he held back payments claiming his PP account was frozen - but then claimed subsequently to have made payments via PP in respect of MOO.COW).  If his account got suspended it's no excuse not to have paid other people 6 months on.
3.  Repay the LTC he personally owes  to MOO.COW plus back dividends.  You may (or more likely may not - seems noone except me remembers it even though the posts detailing it still exist and were quoted so can't be deleted) remember supposedly he borrowed cash from MOO.COW when the previous scammer ran it and allegedly paid back some of that via PP (whilst his PP account being frozen was the excuse for not repaying people who'd sent him PP USD).  But that still left a chunk of what he acknowledges as having personally borrowed  never being repaid.

There's like zero chance he'll pay back but we have to at least pretend he may repay what he owes (only way he will is if he can get more loaned/invested into him - everything I see says he's busto).  In practice all you'll get is excuses and vague promises.  Unfortunately I'm increasingly convinced he was actually working with the other scammer (the schoolkid who launched the security originally) and that the transfer was an intentional attempt to make it a mess to work out who was responsible.  I didn't expect him to default QUITE so fast (I barely cleared my own position profitably in time) - but guess once it became apparent his latest scam dressed up as a security wasn't going to get votes then there ceased to be any benefit to him in making payments.

Loufie (triple B) is next btw.  He's having to steal more blatantly all the time - and will likely default when his next secuirty fails to get approval.  He's been skimming (pretending to solo mine with bad luck/mining for non-existent securities where he has no right/taking the 'development' fund for inappropriate purposes) for a while but recently it's becoming more obvious as the amount he skims becomes a larger percentage of total mined coins.  Probably still a few months before you have to delist his.

I already had a warning up on it that it was in violation of the contract, I've altered it to read:

Quote
WARNING -- This asset is in violation of it's contract. Trading will be frozen September 15th.

Please let me know if/when other issuers violate their contracts.  I'll post similar warnings so new buyers don't get sucked in.