BitBet final settlement

Friday, 15 April, Year 8 d.Tr. | Author: Mircea Popescu

You might recall that BitBet, a MPEx registered corporation trading as S.BBET, failed spectacularly on March 16th :

Kakobrekla notified me yesterday that he won't be signing the report above. Discussion hence has clearly delineated irreconcilable differences, but in any case - I won't be signing anything else. The truth being but one I have relatively little choice.

This means Bitbet will fail to uphold its contractual obligations with MPEx, and in due time be delisted by that exchange, and lose its status as a Bitcoin registered company. More pressingly, Bitbet is also currently bankrupt, by either "liabilities in excess of assets" or "standing claims it can't dispose of", whichever standard you prefer to employ. This means it is headed into receivership.

The "community" consensus was quick to form, on the usual lines :
bitbet-derpage
Then that theory didn't work out, but no matter, the same "consensus"i reformed itself along the same exact lines :

3) Now do you recall someone saying “yes there are contingency plans”? Here is a cont. plan: without extensive consultation with bettors MP or PAMP made a decision to transfer all our assets to “senior lord of Bitcoin”.

3) Mentioned lord already owns 13.37 BTC out of 750 transferred to him. Yes, I am nobody in BTC community, but I would gladly do the liquidation of BB within 3 months for 3 BTC.

via fr.anco.is.

moar-bitbet-derpage

What curse is this, what kind of bliss, to have one thought that you can't stop...

But anyway : the auction completed, the winner is a certain znor987, the winning bid is 86 and the final settlement sounds like :

mircea_popescu davout to try and get a final settlement here, i owe you 199.45006789, add to which 13.37, you owe me y for to be distributed to the shareholders, add to which 4.83378422 from the hotwallet, comes to z altogether. once you ok i'm sending to teh receivership addy.

More or less, at any rate. It was discussed and rectified in a few passes, circling ever closer to the satoshi, until finally settled earlier todayii. The MPEx shareholders will be receiving their 1`000 satoshi per share later this month, the bettors should be receiving the full amounts due them starting tomorrow or Monday or something, and that's that.

There is absolutely no doubt in my mind whatsoever that the same "community" "consensus" will continue unabated, in the sense that the scams that make up every part and the sum total of the United States government, be they proven, exposed and unmasked a million times will still be doublespoken as "business"iii while actual business run by actual people will still be outright denied for as long as at all practicable and then misrepresented as the exact opposite. As per the playbook, on and on and on. And on, and on, until you all drown in my piss, most esteemed community of angloshitheads.

Bottoms up! You will have to drown, simply because the droning has to stop somehow.

———
  1. Yes, I know it's no sort of consensus, in the sense that nobody ever hears it nor even cares outside of a very vocal minority of idiots that have exactly no power to influence anything. That is exactly the point : that the vocal minority of idiots with no power misrepresent themselves (loudly!) as some sort of a "community" that has reached some sort of "consensus". Yes, like happened for instance with Gavin the Retardersen. Yes, because of the meta problem. Yes, yes, yes. []
  2. Transaction b2e9ad0d7aaaab0ea8eeb50bc118af81d8f75689133a8635af9bc4b2af98d1c3. []
  3. Let me guess, you think JPM is a bank, right ? Not a mere confabulation empty of any substance, consisting essentially of USG moving imaginary money from one imaginary pocket to another imaginary pocket. You think Apple is an actual thing, actually valuable, that could totally buy Russia, right ? You actually believe Warren Buffett couldn't find anyone with short positions on his Berkshire shitshow.

    If you do believe all that, your head's lost so far up your ass the term shithead doesn't begin to do justice to your anaerobic feats. []

Category: Bitcoin
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7 Responses

  1. Is it a coincidence that said amount is 13.37 BTC? ===> "LEET"?
    Or is it a COINSPIRACY?

  2. Mircea Popescu`s avatar
    2
    Mircea Popescu 
    Saturday, 16 April 2016

    I think he picked that fee for this reason, tbh.

  3. my shares are still shares,when will them change into coins?

  4. Mircea Popescu`s avatar
    4
    Mircea Popescu 
    Thursday, 21 April 2016

    > later this month

    You know ?

  5. what are u asking about what i know?

  6. I withdrawed bitcoins,thank you

  1. [...] And yes there's some escheat involved, to keep things running smoothly, but outside of rebellion, treason or shocking incompetence my incentive isn't to [...]

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