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Thread: Bit Billions - bitbillions.com

  1. #426
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by littleroundman View Post
    Speaking of IQs,

    what sort of IQ would it take to be responsible for this little gem:







    while trying to maintain a reputation as some sort of investment expert whose word should be believed when it comes to BitBillions.
    What sort of half baked idiot would hawk Paradox Cash? Nigel Swain's attempt to justify his own pryramid and his super pimp Myrna Ferguson is history and a big laugh.

    Paradox Cash RS thread.

  2. #427
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    You are badly mistaken as I do not promote frauds.
    NO

    What is this Paradox Cash

  3. #428
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by path2prosperity View Post
    NO

    What is this Paradox Cash
    You might want to update that thread as since the last post they hit their goal amount of subscribers and have released sites just as they always claimed they would.

  4. #429
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    You are badly mistaken as I do not promote frauds. Bitbillions is not a fraud. I am risking no charges as I am not involved in anything illegal. There is an upside as when Bitbillions does achieve the next stage I am in a good position to profit from it. The downside, if it does not get there then the money I have put into it is gone.

    Faith Sloan...I have come across her marketing techniques and the way she treats people in the past. She threw me out of a couple of her skype rooms when I stated/told people that what she was promoting was a ponzi. She didn't like that at all but it was obvious. She was only ever interested in herself and not helping people she recruited to her scams.
    Aussie, EVEN IF Bitbillions was 100% legitimate you are ILLEGALLY soliciting unregistered securities and are unlicensed to do so. Yes you are breaking the law, and yes you could be charged. That you don't even seem to comprehend this makes the discussion a little challenging as the law is extremely clear.

    As for the rest of course, the 10 or 20ish scams that have your name tied to in this thread must be outliers.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  5. #430
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by ribshaw View Post
    Aussie, EVEN IF Bitbillions was 100% legitimate you are ILLEGALLY soliciting unregistered securities and are unlicensed to do so. Yes you are breaking the law, and yes you could be charged. That you don't even seem to comprehend this makes the discussion a little challenging as the law is extremely clear.
    Can you tell me how GBBG is soliciting unregistered securities? Personally I have no idea what you are on about. There is premium upgrades which effectively is buying an ad position and the co-founder upgrades which are limited and just a membership status. So what securities are you talking about?

  6. #431
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    Personally I have no idea what you are on about.
    Ignorance of the law does not constitute a valid defence for breaking it.

    What jurisdiction are you in australia? United States? ... and what particular state. The general laws are the same but there may be specific ones for the actual state you are in.

    You are asking people to invest in CBBG. They are paying money into something which you promote as having a return on of more than they put in. You also assert it is a risk.

    With respect to the US- investment schemes that do not fall within the traditional categories of securities listed in the definition of a security (Sec. 2(a)(1) of the 33 act and Sec. 3(a)(10) of the 34 act) the US Courts have developed a broad definition for securities that must then be registered with the SEC. When determining if there a is an "investment contract" that must be registered the courts look for an investment of money, a common enterprise and expectation of profits to come primarily from the efforts of others. ( See SEC v. W.J. Howey Co..) What people call "passive" investment.
    15 U.S. Code § 78a - Short title | LII / Legal Information Institute - the 1934 Act
    15 U.S. Code § 77a - Short title | LII / Legal Information Institute - the 1933 Act

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  8. #432
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by Beacon View Post
    Ignorance of the law does not constitute a valid defence for breaking it.

    What jurisdiction are you in australia? United States? ... and what particular state. The general laws are the same but there may be specific ones for the actual state you are in.

    You are asking people to invest in CBBG. They are paying money into something which you promote as having a return on of more than they put in. You also assert it is a risk.

    With respect to the US- investment schemes that do not fall within the traditional categories of securities listed in the definition of a security (Sec. 2(a)(1) of the 33 act and Sec. 3(a)(10) of the 34 act) the US Courts have developed a broad definition for securities that must then be registered with the SEC. When determining if there a is an "investment contract" that must be registered the courts look for an investment of money, a common enterprise and expectation of profits to come primarily from the efforts of others. ( See SEC v. W.J. Howey Co..) What people call "passive" investment.
    15 U.S. Code § 78a - Short title | LII / Legal Information Institute - the 1934 Act
    15 U.S. Code § 77a - Short title | LII / Legal Information Institute - the 1933 Act
    Once again, you are talking about investing in GBBG but you cannot invest in GBBG, you can upgrade to a premium member on the earning sources but that is not investing. You can get a lifetime co-founder position, but that is not an investment either. Now I expect with the twists that you guys normally use to hear someone like LRM say something like any money put in to GBBG is investing, but that is just lying. I expect it from LRM amongst others here now though. Maybe buying a pie at the local shop is investing.

  9. #433
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    Re: Bit Billions - bitbillions.com

    The Howey Test:

    The Supreme Court set forth a test, now known as the Howey test, for determining whether a transaction constitutes an investment contract.
    Under the Howey test, a contract or transaction is an investment contract if “a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third-party.”

    Please note however that while the Supreme Court in Howey stated that the profit must arise “solely” from the efforts of others, later decisions by lower courts and the Supreme Court have expanded this, so even if the investor has the power to be involved, the transaction may still be an investment contract if the efforts of others predominate.

    Therefore, there are three essential components for this test:

    (1) investing money in a common enterprise,

    (2) the expectation of profit,

    and

    (3) the profit arising primarily from the efforts of people other than the investor.
    The only thing necessary for the triumph of evil is for good men to do nothing

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  11. #434
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    Once again, you are talking about investing in GBBG but you cannot invest in GBBG, you can upgrade to a premium member on the earning sources but that is not investing. You can get a lifetime co-founder position, but that is not an investment either. Now I expect with the twists that you guys normally use to hear someone like LRM say something like any money put in to GBBG is investing, but that is just lying.


    Aussie, the LEGAL definition has been provided for you, AGAIN. Are you seriously not able to read and comprehend?

    Explain how an INVESTMENT in the GBBG fund is not an INVESTMENT?

    I know the fund is now defunct and everyone has lost their money, er sorry will be made whole in five years. But let's ignore that and explain...

    GBBG Unregistered Investment.jpg

    While it is a little more challenging the same rules apply to Bitbillions regardless of what you call the INVESTMENTS. There is doctrine called SUBSTANCE over FORM, that prevents people from avoiding the law by playing games with things like names, FOUNDER vs. INVESTOR. Get it yet?

    So playing stupid or saying it's not an investment means nothing in the eyes of the law.

    Quote Originally Posted by aussie_striker View Post
    Maybe buying a pie at the local shop is investing.
    No one is claiming RETAIL sales are an investment. If the shop owner took to the web and offered FOUNDER positions to non accredited investors where they get a piece of the pie, then YES that is an investment. If that OWNER goes further and PAYS unlicensed people to solicit INVESTMENTS in his shop then then more laws are being broken.

    It could not be any more clear, you are breaking the law.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  13. #435
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by ribshaw View Post
    Aussie, the LEGAL definition has been provided for you, AGAIN. Are you seriously not able to read and comprehend?

    Explain how an INVESTMENT in the GBBG fund is not an INVESTMENT?

    I know the fund is now defunct and everyone has lost their money, er sorry will be made whole in five years. But let's ignore that and explain...

    GBBG Unregistered Investment.jpg

    While it is a little more challenging the same rules apply to Bitbillions regardless of what you call the INVESTMENTS. There is doctrine called SUBSTANCE over FORM, that prevents people from avoiding the law by playing games with things like names, FOUNDER vs. INVESTOR. Get it yet?

    So playing stupid or saying it's not an investment means nothing in the eyes of the law.

    No one is claiming RETAIL sales are an investment. If the shop owner took to the web and offered FOUNDER positions to non accredited investors where they get a piece of the pie, then YES that is an investment. If that OWNER goes further and PAYS unlicensed people to solicit INVESTMENTS in his shop then then more laws are being broken.

    It could not be any more clear, you are breaking the law.
    You keep talking about investing in GBBG but there is nowhere on the site that talks about investing. The fund that was started was stopped as there was legal miplications and GBBG found that they were going to have to jump through too many hoops to ensure it passed all regulations (despite being in bitcoin). So the fund no longer exists. Members voted on what would happen with the funds that were already invested. Basically the fund is old news, it no longer exists and will not be reopened. You are saying money going into GBBG are investments when that is not what it is and the site does not claim it is. Only you claim that is what it is. So my analogy with retail sales is correct as it is basically the same as you saying people are investing in GBBG. You making up lies about the site does not make it true.

  14. #436
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    You keep talking about investing in GBBG but there is nowhere on the site that talks about investing. The fund that was started was stopped as there was legal miplications and GBBG found that they were going to have to jump through too many hoops to ensure it passed all regulations (despite being in bitcoin). So the fund no longer exists. Members voted on what would happen with the funds that were already invested. Basically the fund is old news, it no longer exists and will not be reopened.
    People lost all their money (er sorry they voted that in 5 years they would be made whole). OLD NEWS in your world is still relevant to the type of crap you peddle as you still have your hand out for "founders" or "half founders" or "reverse hoopdeedopp founders".

    But yes, if you mean people lost their money then yes, we can agree.


    Quote Originally Posted by aussie_striker View Post
    You are saying money going into GBBG are investments when that is not what it is and the site does not claim it is. Only you claim that is what it is. So my analogy with retail sales is correct as it is basically the same as you saying people are investing in GBBG. You making up lies about the site does not make it true.
    I don't know how many more people have to explain this to you, the legal definition of "INVESTMENT" is posted above using the Howey Test. I would suggest you meet with an attorney locally and have them explain it to you. Perhaps they could use a combination of crayon and scratch N sniff to let it sink in.

    BITCOIN has nothing to do with anything. I can't exchange people's money for plastic chips, let them gamble for those chips, and then exchange those chips for money at the end of the night and claim there is no gambling involved. You can play all the word games you want, you are breaking the law.

    In conclusion, NO your retail analogy is not correct.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  15. #437
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    You keep talking about investing in GBBG but there is nowhere on the site that talks about investing.
    So what if they dont use the word investing? People pay money and expect a return.
    The fund that was started was stopped as there was legal miplications and GBBG found that they were going to have to jump through too many hoops to ensure it passed all regulations (despite being in bitcoin). So the fund no longer exists.
    So an earlier fraud "investment" also failed? So what ? Please look up "straw man".
    You are saying money going into GBBG are investments when that is not what it is and the site does not claim it is. Only you claim that is what it is.
    No1 that is what YOU claim it is! People pay for i.e. buy membership or founder status and are informed that the future value of these positions will be higher than now.

    bitbillions earn free bitcoins: Bitbillions (Estimated Future Co-Founder Account Value)

    revenue will come from Premier membership upgrades, premium advertising sales, GBBG|ware projects, outside product sales, and many other sources
    i.e from later people joining = a ponzi

    The GBB|market will be open after the launch of the Matrix. This will be a place where members can buy and sell Founder and Co-Founder accounts.
    for "matrix" read "pyramid" and for buying and selling accounts read "investing"

    So my analogy with retail sales is correct as it is basically the same as you saying people are investing in GBBG.
    No in retail sales you buy a product and you can also return that product and get your money back. with CBBG you buy "positions" which are not anything you can hold in your hand and which can be traded on to someone else for more money. You are therefore being offered an investment. also people are additionally encouraged to recruit into a "matrix" which is basically a pyramid/ponzi.

  16. #438
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by Beacon View Post

    No1 that is what YOU claim it is! People pay for i.e. buy membership or founder status and are informed that the future value of these positions will be higher than now.

    revenue will come from Premier membership upgrades, premium advertising sales, GBBG|ware projects, outside product sales, and many other sources
    i.e from later people joining = a ponzi
    How do you get 'from later people joining' when none of that is to do with people joining?

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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    How do you get 'from later people joining' when none of that is to do with people joining?
    I have seen no published accounts or no records of substantial revenue from retail or advertising or "other sources" to cover the claimed payouts. So if it isn't coming from subscriptions of people joining the scheme then what evidence is there it is coming from another source? What actual accounts are there and what expertise and background is there for the people running the scheme? Membership and membership upgrades is all I see as regards money coming in. Where is there any evidence of substantial income form all the other sources mentioned eg advertising, outside products, software or "other"?

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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by Beacon View Post
    I have seen no published accounts or no records of substantial revenue from retail or advertising or "other sources" to cover the claimed payouts. So if it isn't coming from subscriptions of people joining the scheme then what evidence is there it is coming from another source? What actual accounts are there and what expertise and background is there for the people running the scheme? Membership and membership upgrades is all I see as regards money coming in. Where is there any evidence of substantial income form all the other sources mentioned eg advertising, outside products, software or "other"?
    The website shows transparency of all revenue and payouts. It goes into great detail, more than I think you will find on any site, unless you are an accountant for them. Most of the 'substantial' revenue will come later with new products, right now the outside sources are growing but all bitcoin is accounted for and any member can see it all on the site.

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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    Most of the 'substantial' revenue will come later with new products,.
    Oh dear.

    The old "We'll run it as a hybrid ponzi / pyramid for now and make it legal later" trick.
    The only thing necessary for the triumph of evil is for good men to do nothing

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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by littleroundman View Post
    Oh dear.

    The old "We'll run it as a hybrid ponzi / pyramid for now and make it legal later" trick.
    well............maybe
    and, of course, by then, it will be a BitLate©

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  22. #443
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by littleroundman View Post
    Oh dear.

    The old "We'll run it as a hybrid ponzi / pyramid for now and make it legal later" trick.
    Throwing out the same old lines again I see. Ignoring the more significant info given.

  23. #444
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    Re: Bit Billions - bitbillions.com

    That is the only significant info needed to warn others.

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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    Throwing out the same old lines again I see. Ignoring the more significant info given.
    Ummn,

    that's probably because it's as true now as the first time it was said, and nothing you or Bitbillions have come up with negates the fact that, at this moment, Bitbillions only SIGNIFICANT source of revenue is membership fees (or whatever you are calling them this week)
    The only thing necessary for the triumph of evil is for good men to do nothing

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    Re: Bit Billions - bitbillions.com

    Bit Billions still adding Magic Beans and shares in the Brooklyn Bridge as the new revenue streams?

    Bringing Gandalf and Frodo into upper management has really helped make this one legit!

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  27. #447
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by Fat City, LA View Post
    Bit Billions still adding Magic Beans and shares in the Brooklyn Bridge as the new revenue streams?

    Bringing Gandalf and Frodo into upper management has really helped make this one legit!
    And it is comments like these that just prove you guys have no credibility whatsoever.

  28. #448
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    And it is comments like these that just prove you guys have no credibility AMONG HYIP PONZI PIMPS AND PLAYERS whatsoever.
    There, David, fixed it for ya.

    No need to thank me.
    The only thing necessary for the triumph of evil is for good men to do nothing

  29. #449
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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    And it is comments like these that just prove you guys have no credibility whatsoever.
    Why? Magic Beans and shares in Brooklyn Bridge are as real as bit billions revenue streams other than other members $.

    Does this mean I'm not invited to "Join our host David Ruebush as he discusses some important details regarding our Top Secret Project?

    I'm bummed.
    David Ruebush has NEVER been involved in a project where people have lost $ AND I'll miss the big announcement of the Easter Bunny (maybe Santa Claus) joining Bits Billion.

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    Re: Bit Billions - bitbillions.com

    Quote Originally Posted by aussie_striker View Post
    The website shows transparency of all revenue and payouts.
    that is unsupported assertion! WHERE does the website shoe where all the money is coming from and where ir is going?
    Can you state here what you see as the total revenue and sources and what are the payouts and sources and provide supporting references?

    It goes into great detail, more than I think you will find on any site, unless you are an accountant for them.
    Great - Care to supply the figures? How much goes in form what source and how much cis paid out and to whom and on what?

    Most of the 'substantial' revenue will come later with new products, right now the outside sources are growing but all bitcoin is accounted for and any member can see it all on the site.
    So now you have an unsupported claim of no current revenue but a promise of "jam tomorrow" ?
    So how much revenue is CURRENTLY coming from subscribtions?
    How much is being paid out and to whom?

    If it is all transparent as you claim it should be easy to reproduce here.

    But the main issue is of all the payouts what percentage of it is coming from subscriptions as opposed to "other" sources?

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