Quote from: kiba on July 07, 2011, 05:23:46 PM

Quote from: 5grainsilver on July 06, 2011, 04:36:32 PM

GLBSE is not a real exchange. There is no volume. It is not regulated by any government organization. My expectation of receiving payout should my contract become profitable is pretty damn low. The site owner has a link where you can donate to him lol. That is not a professional exchange. What are the qualifications of the person running it? Who is running it? Where is it based? On the about me page it says the following:

"We Are The Market

Buy, sell, raise, lend, borrow, invest, the single market that does it all. Keep your bitcoin in one market, and instantly switch between different assets, currencies, shares, and bonds to take advantage of the largest bitcoin market.

   * Issue shares to raise capital
   * Pay dividends to shareholders
   * Put resolutions to shareholders and get their vote
   * Issue and sell bonds
   * Borrow and lend to the market
   * Make and recieve loan repayments
   * Issue futures contracts
   * Meta-trade on non listed companies (on other exchanges)
   * And trade all of the above with other traders on the market

Start Trading Now!

The exchange is currently under testing, but is being used, you may use at your own risk but be warned,you could lose your shirt ;-)"

That says nothing, except that the person running it is building this as they go and have no idea what they are doing.

You have not been around for very long, right? Everybody know that the GLBSE exchange is based only on 100% trust, and defer to no authorities. It's not a MtGox and TradeHill that operates under the laws of its perspective nation state. It's more like silk road than your mom and pop convenience store.

I hate to be so negative on everything, but that is pretty much the perfect enviroment for scammers.