Perhaps without disclosing any details you can just tell us your conclusions on the matter. Some of us only want to know tl;dr from someone they trust, without wasting any time on any details.

Charlie,

Any comment or knowledge on whether funds were mixed to help launch that bitcoin/tech incubator building project?

My main concern is how this affects people's attitudes towards putting Bitcoins into GLBSE listings, of which I have one. Hopefully it gets resolved relatively amicably for investors.

I really don't think it should be up to the investors to figure out what percentage of blame lies where.

- Robert

WTF, so let me get this straight... MNW spent countless hours trying to convince everyone that leo/Coinexchanger/Maria was bitscalper and he was working with the real bitscalper on kronos.io all the time.

Priceless!

Not directed at you, Charlie

But where the f... did all the money go from a fore mentioned  assets?

at the moment i'm not buying neither one of these guys stories, not JRO's nor Alberto's, until there is a solid answer to this question.

thank you for being clever.

now someone of involved parties please answer the question: where are the money collected from investors on GLBSE?

Yes that's why I said "How they deal with the investors is what's important." Edit: I suppose for clarity I should have tacked on "at least until the investors are made as whole as possible"

I'm not saying anyone thinking of dealing with them in the future shouldn't consider the fact that they have devolved into open mudslinging, regardless of truth or accuracy. I'm merely saying the investors shouldn't allow themselves to be distracted from the core issue of where their bitcoins went and how they will be returned.

Neither the Kronos hack nor the loss of Brian Cartmell's funds should be allowed to have any impact on GLBSE investors, regardless of who was responsible for those events.  The real concern at this point is whether - independently of those two events - any of the GLBSE-raised funds have been inappropriately spent, if so by whom, and how much of their investment can be recovered.

If funds have been spent on other projects from an IPO of bitcoinrebate or ZIP.A then  any profits from those should reimburse any loss. Maybe bondholders of failed projects could be compensated with equity in projects the funds were spent on.

You can't collect from someone with no money, and a shitstorm will damage reputation necessary to collect funds for payback.

I suggest everyone just keep calm, and give this a couple months' more time. Investors could be screwed, yes, but collecting at this point won't salvage much. We can be angry, but try to keep it out of mind for a while. These various securities have effectively become loans, and I can speak from experience to say it's a very bad idea to ruin someone in trying to collect money when they need to collect money themselves. Loans need to be symbiotic, and that means you can't immediately turn on the rape switch when someone's in default. To do otherwise would result in tragedy for everyone with their neck out. Partial loan calls can be symbiotic if it forces a business/individual to cut away all the fat, but in this case, we'd be taking all his meat.... okay - bad analogy.


JRO might speak in depth, eventually... hopefully - but at this point, it seems we're better off expecting repayment within a year, and not demanding answers in the meantime. I believe I am most exposed, fwiw. I don't mean to be a bully, and I have no authority to do so, but I would very much unappreciate actions which harm JRO, as it harms everyone with money in him. Especially if you have nothing at stake, please shut up.  

ETA: Not directed at anyone in particular.

+1000 My thoughts exactly and the reason why I'm not "shit-storming" right now despite the situation. Instead, I am encouraging Alberto to focus on fixing the security holes in BDT. As I've said several times, these security holes are not hard to fix at all, a few weeks max with the source-code and it could all be resolved, and probably just a few days for the most glaring stuff. Then it just needs a long period of testing and hardening.

But yelling, screaming, and fingerpointing does nothing to help anyone at this point; if anything, as you put it, it reduces the odds of investors coming out on top.