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Author Topic: [ANN] [SCAM Warning] BARWIZI - NRS/NRB/NoirGroup/Project X  (Read 9988 times)
lajz99
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September 19, 2014, 10:50:03 PM
Last edit: September 21, 2014, 09:26:15 PM by lajz99
 #1

There are many questions that have still gone unanswered by Barwizi regarding the NoirGroup general fund.  He has now created a self-moderated thread and locked the previous thread to avoid answering any questions.  It is now time to bust things wide open as Barwizi has profited significantly from the missing premine and NoirGroup funds.

I previously was a member of NoirGroup and fully believe NG was started by Barwizi in order to scam the public by creating NoirGroup unknown to myself and other members of the team (who have also stopped working with the group since).

Here is some information and questions for Barwizi that he refuses to answer:


My post from July 2: https://bitcointalk.to/index.php?topic=565623.msg7642275#msg7642275

"I've made all the points I have to make on this matter so this is going to be my last post here.

I do not believe that NRS or NoirGroup was created with the intent of being a scam, however, I do believe that Barwizi feels he is entitled to the funds that are missing and there is no reporting.  There have been MANY discussions asking for reporting and I never saw any, as the CFO indicated, he has not either.  During my time with the group I did not see any evidence of any board members doing anything under the radar besides Barwizi as I have documented previously.

I can assure you he'll come back with a list of "expenses" from the 250k premine (240k after 10k in giveaways), however, I highly doubt he will provide any PROOF anyone received the NRS (transaction ID's are NOT proof).  The 84k NRS that were used to buy into the General Fund should also be accounted for.  If they bought general fund shares, the general fund should have possession of them, right?

Will the tracking going forward be accurate?  Probably...at this point the CFO should have control over 100% of the funds (besides the 2th/s of miners being used for "expenses).  
Will additional coins be released?  Probably...not too hard to continue to clone...
Will the General Fund make their investment back?  Doubtful...it won't come from the mining and honestly Barwizi does not even understand what a true "DAC" is...
Will you see real proof the premine was spent for the good of NRS?  Not a chance in hell.

At this point PLEASE stop sending me messages asking me for more information, I've said all I have to say on the matter.  

It's obvious Barwizi cannot be trusted and I HIGHLY SUGGEST that the NoirGroup General Fund VOTE TO REMOVE BARWIZI AS CEO OF NOIRGROUP.

Goodbye."

Barwizi has been promising accounting of the premine and group funds for months and these has still been no information provided.

There are also funds missing from the 5th/s mining operation that have not been accounted for.  These miners and funds belong to NoirGroup, not Barwizi.

June 30 post: https://bitcointalk.to/index.php?topic=565623.msg7605585#msg7605585
"Dearest Barwizi,

Here is the address for the eligius account where the miners were previously pointed prior to being moved so the CFO had access to the funds: http://eligius.st/~wizkid057/newstats/userstats.php/1Nf7PswAM87DWXfRLWxVVTjb8BYK3qfQuS

You can all see 8.82 BTC were mined on this account.

It did NOT go to miner fees, because that's where 2th/s is pointed to pay for those as you've stated previously.  

2-3 BTC were used for noirpool.com.  


WHERE DID THE ADDITIONAL 5-6 BTC FROM MINING GO?  PLEASE SHOW US TRANSACTIONS.  THIS BTC BELONGS TO THE GENERAL FUND!!


Thank you.

P.S. - DO NOT try to tell us the CFO will answer this as he did NOT have control over the wallets at that time.  YOU ALONE ARE RESPONSIBLE."


Here is a chat log where Barwizi admits to dumping the premine:  http://pastebin.com/kyvSsHa3
"Just how long do you think it took to sell it?" -Barwizi

And don't forget to take a look through the old NoirGroup thread!  It's some great comedy!  https://bitcointalk.to/index.php?topic=565623.msg7605585#msg7605585

There is enough evidence against Barwizi and many unanswered questions regarding NoirGroup financials.  I highly urge you to do your research before getting involved with Barwizi or any NoirGroup/NoirShares projects.

I URGE NOIRGROUP AND BARWIZI TO PROVE ME WRONG AND PROVIDE ACCOUNTING FOR THE GROUP.




When I learned of the GF fund, I purposely did not invest, because I knew what it represented.  It was not definitive about what was going to happen and my investments were scarce enough that I didn't want to blindly take the plunge on a hope and a prayer.

Well some GF investors did exactly that, they simply got excited and threw their money into the pot hoping that while everyone else was doing it, it might yield something.

Now listen how stupid they sound, I quote:

We wait, we wait, we wait. We are still waiting. How long? A day? A week? A month? A year? At least you could have done something to compensate for the long waiting.

Long waiting?  Are you kidding me? NRS was announced around Feb 2014. It is still in its first year of development.  Most new businesses lose money the first year or two of start up.

....
These GF holders and other NRS investors have no idea that instead of seeing the yields and corrections they want, they are actually the exact same people that might be hurting their own investment, maybe even permanently by doing this..


Thanks for pointing out that my investment in the GF was a risky one, a risk you were not willing to take.
Maybe you can also see that making the mining option possible (mining at least 16 or maybe much more BTC), we have made possible the infrastructure you are having profit from now. The money from the mining option must be somewhere in the organisation, God knows where, but we, GF did not profit.
Personally I don't really care about the BTC I have put inside. Like I have said before, I have found a good investment that has brought me much more profit then this will ever give me.
What I am angry about is the way things are portrayed. If you can do some reading, you can also read that Barwizi, accidentally or purposely, has not been clear about the role of the GF holders in this new chain. If he would manage well, he would have given us SOMETHING in order to keep us a bit satisfied.
Promises were not kept time and time again.
Promise: GF holders will profit from the BTC mining done by the machines bought.
Fact: I have seen maybe 150 NRS, but no accounting has been done for the mining up till today, while the mining is already done there for 5 or 6 months. I am waiting for the accounting
Promise: GF holders will profit from the mining pool, and get the fees.
Fact: Never saw a dime from that, the project was killed after one or two weeks. I am waiting for this to come online again, because it has never been formally canceled.
Promise: GF holders will profit from the new lottochain
Fact: There will not be a lotto chain, instead it is planned to be implemented in a merge of NoirShares and Noirbits and the code is far from finished, and if this goes the way of the other two promises above, this will never happen. But ok I am waiting for this promise to become true.
Promise: There will be accounting for the mining operation and the premine.
Fact: This is still not done, after 3 months. But of course, I am waiting for the accounting, could be today, could be next year, but who cares, it is only the bitcoins that was mined with my money.

And of course I understand how hard it is to code, and how difficult creating something can be. But taking into account what has happened in the 7 months existence of NoirShares things in NRS go about 4 times slower than in other coins! But of course, I can give the developer a little credit and am waiting for the outcome.
And accusing the GF holders that they are devalueing their own share by standing up for their rights might sound like a legitimate statement, but in fact you are telling me to keep my mouth shut while things are not going like they should. Really, I have been biting my tongue more than you know, I have not said even half of what I want to say, just because I keep in mind it could devalue the share. I really have been waiting for things to improve, but from my viewpoint, the position of the GF holders is not improving, it is diminishing. I am still waiting to vote for a lot of decisions that have been made on our behalf without consulting us.

For the record: I did not get any offers for my share yet  Wink Come and buy! Rewards will be big! Don't wait! Dive in!
Oh BTW I could not wait until after the weekend to react on this posting, sorry.

edit: I want to state that things said in my reactions are my own point of view and in no way represent the point of view of the other GF holders. Although I am very curious what their point of view is. I added this because of this:
Quote
Now listen how stupid they sound, I quote:
We wait, we wait, we wait. We are still waiting. How long? A day? A week? A month? A year? At least you could have done something to compensate for the long waiting.




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September 19, 2014, 10:51:41 PM
 #2

And here I was thinking it was going to be a boring day.


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lajz99
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September 19, 2014, 10:55:08 PM
 #3

Barwizi, there should have been ~33btc mined from the 5th/s mining operation that started in mid-April.   Where are these funds?

majeis
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September 19, 2014, 10:56:00 PM
 #4

Have you seen btc recently?

 Cheesy

That was yesterday's fun. Now it feels like the typical weekend red. Just another trading pair. :/


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September 20, 2014, 03:49:48 PM
 #5

Saturday morning scam warning!

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September 21, 2014, 06:46:12 PM
 #6

Another scam started by Barwizi!  You'll notice 1% goes to him personally and the vast majority of the remaining 99% will NEVER be claimed.  At least this time he's not trying to hide it...

https://bitcointalk.to/index.php?topic=791338


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September 21, 2014, 09:06:24 PM
 #7

There he goes...deleting posts he doesn't like in another self-moderated thread...

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September 21, 2014, 09:28:25 PM
 #8

There he goes...deleting posts he doesn't like in another self-moderated thread...

Yeah, what kind of idiot does he think I am?  ... wait.... don't answer

Seriously, anyone that falls for it really probably deserves it.
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September 22, 2014, 09:27:57 AM
 #9

And here we go, the proof  Grin lajz99 you were right!

https://bitcointalk.to/index.php?topic=791890.new#new

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September 22, 2014, 04:56:19 PM
 #10

Thank you to Chocobo for your independent investigation and FUCK OFF BARWIZI!!!

I have finished reviewing the finances of NG. Logan, the current CFO of NG, has been missing for quite some time now and I finally decided to just do his job for him. I only wish I had done it sooner. Simply put there is a lot of money missing.

First, let me share with you all of the accounting documents I received from the group as well as the NG officer board Skype chat.


Quote


Logan was given the documents barwizi made to do the premine accounting. I later asked him for a progress report on the premine:


Quote
[8/12/2014 6:49:23 PM] Chocobo: hey
[8/12/2014 6:49:48 PM] Chocobo: just curious if you were able to do anything with the premine accounting
[8/12/2014 6:54:50 PM] Logan: This is what Bar gave me: https://docs.google.com/file/d/0BxCtiOzdwvPyVzRielRuZDJmOFE/edit
[8/12/2014 6:54:55 PM] Logan: Which is absymal"


This is a reminder that these documents were made by barwizi, and are missing important details about each transaction. That is why I looked to the forums for traces of these transactions, or talked to the people on the other side of each transaction for verification.

Lets start with the General Fund accounting. The General Fund was basically an ICO for Noir Group in which a large portion would go to buying mining rigs to mine BTC and other alts for the group. The remainder of these funds were expected to be used in the interest of GF shareholders. A share was purchasable for 1 BTC, or 1 BTC worth of either NRS,NRB, or PTS. Because alts have a volatile BTC price Logan adjusted the price of each share in NRS/NRB/PTS frequently. At the end of the investment period 49.8105369691 shares were purchased. Here was the distribution across each coin:

Quote
BTC - 31.28370825 shares
NRS - 11.9205333703 shares
PTS - 4.7749 shares
NRB - 1.8313953488 shares


It is important to note that at the time this was 49.8105369691 BTC worth of assets. Barwizi used his own bitcoin to order the mining rigs for the group in advance. He purchased 5 TH for 31.94765811059584 BTC. I calculated this using the price of bitcoin in USD around the time of the purchase, and these threads:


Quote


There is a chance that the price was slightly higher or lower, but not by much. Barwizi then took all of the GF assets as repayment. That means that for 31.94765811059584 BTC of purchases he repayed himself with 49.8105369691 BTC worth of assets. This appears to have never been made clear to the officers, and in turn never made clear to investors. In this quote from the NG board chat Pocket proves this:


 
Quote
[4/28/2014 4:34:47 PM] Pocket: The General Fund is currently sitting on a small stack of BTC and a relatively large stack of NRS. A vote will be passed around to help determine our next plan of action with group funds.


I believe that investors were told the same in a newsletter. Barwizi stated to me earlier that all of the GF went to the miners. Obviously this wasn't true.


Quote
[9/3/2014 2:50:23 PM] Barwizi: when we started, we decided to open the mining facility, that is whare all the GF funds went


As far as I know none of the officers knew about the premine, in which case they assumed that expenses, such as their salaries and the cost of the multipool, were coming from the left over GF funds/mining op. There were requests in the NG board chat, as well as other places, for control of the GF assets to be given to the officers. They were never granted.

This brings us to the premine. A block early on in the life of NRS was loaded with a 250k premine, and solo-mined by barwizi. The premine was brought up after this chat in the Noirgroup Thinktank on Skype:


Quote
[6/18/2014 10:26:46 AM] wallaceliu007: sure
[6/18/2014 10:27:35 AM] wallaceliu007: I'm a big NRS holder, I think I'm in the richlist... almost 60k now
[6/18/2014 10:28:45 AM] Barwizi: 99969
[6/18/2014 10:28:57 AM] Pocket: by now all the people who want to mine NRS are already doing it, no new people really getting in now
[6/18/2014 10:29:20 AM] Pocket: shit bar, i'll give u the last 31
[6/18/2014 10:29:21 AM] Pocket: lol
[6/18/2014 10:29:56 AM] Barwizi: no, that was my son playing with the key board
[6/18/2014 10:29:58 AM] Barwizi: lol
[6/18/2014 10:30:14 AM] Barwizi: i have 60k
[6/18/2014 10:30:21 AM] Pocket: oh
[6/18/2014 10:30:21 AM] Pocket: lol
[6/18/2014 10:30:31 AM] wallaceliu007: lol
[6/18/2014 10:30:50 AM] Barwizi: he's decided since i wasnt home all this time, i should play with him until he sleeps
[6/18/2014 10:32:28 AM] Koontas: and you should
[6/18/2014 10:34:15 AM] wallaceliu007: my kids also like to play the keyboard
[6/18/2014 11:09:41 AM] Chocobo: didnt you have 190k NRS a few weeks ago bar?
[6/18/2014 11:10:27 AM] Barwizi: real life threw me a curveball
[6/18/2014 11:11:18 AM] Barwizi: but now with PoW coming to an end, i will be restocking


I then personally asked barwizi about the premine:


Quote
[6/18/2014 11:32:48 PM] Barwizi: yes, i sold off a bit, maybe around 80k
[6/18/2014 11:33:07 PM] Barwizi: but my true holding are my own
[6/18/2014 11:33:23 PM] Barwizi: thionk about it, if i said i have 500k
 


Quote
[7:58:40 AM] Barwizi: 0f the 250 i kept nearly 80k


Only two hours later he admits to selling more in the NG board chat:


Quote
[6/18/2014 1:38:17 PM] Koontas: Bar, probably not a good idea to tell people you've dumped 130k NRS...
[6/18/2014 1:39:54 PM] argakiig: ^
[6/18/2014 1:41:38 PM] Barwizi: oh
[6/18/2014 1:42:01 PM] Barwizi: didnt know someone was an avid follower of my address
[6/18/2014 1:42:10 PM] Koontas: you said it in the other chat...
[6/18/2014 1:42:24 PM] Koontas: chocobo knew you had 190k somehow...
[6/18/2014 1:44:29 PM] Barwizi: thats what i mean, i dont klnow how he knew how much i had before
[6/18/2014 1:44:45 PM] Koontas: yea
[6/18/2014 1:45:42 PM] Koontas: That selling also really fucking hurt the price...just my $.02...
[6/18/2014 1:45:56 PM] Barwizi: no it didnt
[6/18/2014 1:46:02 PM] Koontas: oh come on
[6/18/2014 1:46:14 PM] Barwizi: when i was selling the price was going up
[6/18/2014 1:46:14 PM] Koontas: that's over 40btc at current prices
[6/18/2014 1:46:30 PM] Barwizi: and it stayed up for long afterwards


It is really impossible to tell from those quotes how many NRS he sold from the general fund and the premine, mostly because his answers don't stay consistent for even two hours. The document I linked at the top of the post titled "NRS accounting update" is barwizi's attempt at balancing the premine books. Let's take a look at this document.

As I noted before, most of these transactions are difficult to prove, especially the large amount of transactions with no description of what they were for. There is also a category of transactions with no transaction id which honestly cannot be counted as is. Lets start with the transactions I am confident were actually spent for the good of NG:


Quote
Logan CFO           OFFICER PAYMENT
9ezfBmHJdjB6rZiRKU8wrnF1d8JAJ4qDWg        9000 NRS
Argakiig CTO     OFFICER PAYMENT
9fkmW1TuFG2RxzjbtEvLpqyQD5Eu9j4rLx        9000 NRS
Pocket CMO   OFFICER PAYMENT
9k8rLM1L3ucRKGdJumupTpa14TShH4ijL5      9000 NRS
lajz99 COO     OFFICER PAYMENT
9kjBqdj18C3Jz11UuTYBygbYLttQwiXjZb  4790.18 NRS
j stroud    WALLET QT
9aMcCPM3gvBKjzV1AMYQkivsZFmGgCWi2k   17500.01 NRS
tucksmcgucks CREATION OF GENESIS BLOCK
9TA1F2FvKjvSfPfTYNuaCBkh8i69MGLqAQ       4001 NRS
Bitcrypt Consulting LLC Multipool
10000 NRS
3.0 BTC
Argakiig Development tip 1000 NRS
Pinwc4 600 NRS
Translator 1000 NRS
Barwizi on bitsharestalk:
i agree, i'm not really good at articulating, it takes time for me to be coherent in anything other than technical work. I'm offering an immediate 300 NRS Bounty for the Production of a Getting Started Guide.  800 NRS for a fully functional Windows Wallet and a further 800 for Mac.
Windows wallet - 800 NRS
Mac wallet - 800 NRS
https://bitsharestalk.org/index.php?topic=2924.msg36964#msg36964
guide - 300 NRS
https://bitsharestalk.org/index.php?topic=2924.msg36811#msg36811
https://bitcointalk.to/index.php?topic=464197.msg5141523#msg5141523
first pool 1000 NRS
block explorer 500 NRS
Icons 300 NRS

Total: 69591.19 NRS 3.0 BTC


So all of the legitimate transactions I could find add up to 69591.19 NRS and 3.0 BTC. Not even close to the 167112.76 NRS (GF) + 250000 NRS (premine) =  417112.76 NRS we are tracking. One thing missing from the premine accounting is the 80k NRS barwizi says he paid himself. Interestingly enough there are a few transactions that add up to 79.2k sent to a 'root_1'. I asked barwizi about 'root_1' and what he did for the 79.2k NRS:


Quote
[9/11/2014 9:02:03 PM] Chocobo: also who is root_1?
[9/11/2014 9:02:41 PM] Noir X: root tends to pop up when i need him
[9/11/2014 9:03:03 PM] Noir X: i will ask if he finally got a new BCT account
[9/11/2014 9:03:21 PM] Chocobo: he have an old one?
[9/11/2014 9:05:31 PM] Noir X: i'll ask
[9/11/2014 9:06:59 PM] Noir X: i found him on stackexchange when i asked for c++ help
[9/11/2014 9:07:21 PM] Chocobo: what did you pay 79k NRS to him for?
[9/11/2014 9:07:40 PM] Noir X: hold
[9/11/2014 9:07:43 PM] Noir X: on
[9/11/2014 9:09:20 PM] Noir X: i was getting weird seg faults when compiling on linux, he helped me fix that, he also helped me modify the internal miner to correctly find blocks for NRS
[9/11/2014 9:09:56 PM] Noir X: his actual was meant to be ~50k
[9/11/2014 9:10:09 PM] Noir X: right at the start
[9/11/2014 9:11:04 PM] Chocobo: so was supposed to get 50k in feb
[9/11/2014 9:11:21 PM] Chocobo: but got 79k in march
[9/11/2014 9:11:50 PM] Noir X: yeah, the rest was to try keep him around for his talents
[9/11/2014 9:12:00 PM] Noir X: it would have been nice
[9/11/2014 9:12:42 PM] Noir X: like having a proffesional coder
[9/11/2014 9:12:56 PM] Chocobo: have his stack exchange?


He has not located root_1 yet, or found his stack exchange account. He says this information was on a hard drive that needs to be recovered. The amount root_1 was paid is suspiciously close to the 80k barwizi paid himself. The 79.2k NRS root_1 was paid was worth about 10.488 BTC on the dates of his payments and corresponds heavily to a dump on poloniex around that time. root_1 was paid a ridiculous amount for the work he did.

Another gaping hole in barwizi's accounting is a period around the launch of NRS that he sold premine NRS for .00085-.001 BTC per NRS. Here is proof that it occurred:


Quote


Using transactions from around that period that barwizi noted in his accounting I came up with a quick estimate of 43861.58 NRS sold in this manner. Remember this is an estimate, the actual number could be far smaller or far greater. Here is how barwizi reacted to that estimate:


Quote
[3:45:03 PM] Chocobo: the other thing you need to find is do u remember when you were selling NRS for .00085-.001 BTC per from the premine?
[3:45:07 PM] Noir X: we even made a different implementation that may end up as part of any new poject that comes up
[3:45:16 PM] Noir X: yes
[3:45:52 PM] Chocobo: it looks like you sold around 43861.58 NRS
[3:46:01 PM] Noir X: yes
[3:46:02 PM] Chocobo: thats a lot of BTC
[3:46:05 PM] Noir X: i think
[3:46:19 PM] Noir X: but not all of it was at that price
[3:46:24 PM] Noir X: i think
[3:46:25 PM] Chocobo: you were entitled to 30-43 BTC in that way?
[3:46:31 PM] Chocobo: from the company fund
[3:46:38 PM] Noir X: that was long before there was any noir group
[3:46:50 PM] Noir X: that was when it was , Barwizi + new coin
[3:46:58 PM] Chocobo: there was NG
[3:47:05 PM] Chocobo: i have the thread
[3:47:23 PM] Noir X: yeah and who was i working with at that time?
[3:47:32 PM] Chocobo: omg dude how much BTC did NRS that you didnt own make you
[3:47:39 PM] Noir X: actually, lets stay on course
[3:47:47 PM] Noir X: so you wish to know what happened to the BTC ?
[3:48:04 PM] Chocobo: what BTC?
[3:48:52 PM] Noir X: i traded for any alt , then traded to BTC
[3:49:03 PM] Chocobo: yeah
[3:49:06 PM] Chocobo: still BTC
[3:49:11 PM] Noir X: you just mentioned the NRS i sold in the beginning
[3:49:26 PM] Noir X: well, most of it is undocumented


This really bothered me. He didn't even try to deny that he made that much BTC selling parts of the premine. He also claimed NG wasn't around yet. It was, and there are about 4 threads that document it. Makes me think he sold more than 43k NRS.

Later on he tells Logan this:

Quote
[7:57:59 AM] Barwizi: when none was forthcoming, i went as far as selling NRS at a discounted rate, all of this is documented in the firts ANN i made for NRS on both forums

Discounted? More like far above the all time high.

Next up is the accounting of the mining operation. Here are the only addresses I found that were mined to:


Quote


The total BTC mined to these addresses is 10.42958901. Far below the estimated 32.9448 BTC they should have mined. How much of this BTC have investors received? The total NRS payed out to investors as a whole was 7851.104578454333 NRS, which likely cost around 1.3 BTC to acquire around the time of the payouts. Barwizi made a document that attempted to explain where this BTC went. The document is at the top of this post, it is the one titled 'BTC accounting.xslx'. This document is riddled with flaws and inconsistencies. The first being the cost of the multipool. It really cost 3 BTC, not 3.5 BTC. Here are the transactions to the company NG hired:


Quote
753a5e7e5f828c447079b5efb0178731e562317f108602e95ea6448273791c9e
8d29d09e48c7b8aa5b811db7156c016df8df2867704b475ad0286bddfceab874


As you can see barwizi reimbursed himself in two payments here. The first being 3 BTC for the duty on the miners. Interestingly enough this is the third time he is reimbursed for duty. The first being when he decided the remaining 17.86287885850416 BTC worth of assets in the GF were his (about 3x the 6.5 BTC cost of duty, even though that price of the duty has not been proven). The second being a 0.57 BTC share added to his name on the registry noted 'Customs'. The third being the massive amount of BTC he made off of the premine. Then there is the row 'Partial re-inbursment of Costs' where he pays himself 2 BTC more for whatever reason.

On the launch of Cure Coin barwizi switched the miners to a pool that was mining curecoin. He claims to have left the coins on there instead of doing an auto-payout (rookie mistake...too rookie) and before he went to withdrawal the pool owners ran with the coin.


Quote
[9/3/2014 3:07:41 PM] Barwizi: yeah Sad
[9/3/2014 3:08:02 PM] Barwizi: if they hadnt held our curecoin that would have been +20 BTC


To get 20 BTC worth of curecoin the miners would have had to been running for quite sometime. During this time he wouldn't even ask an officer to withdraw these coins or at least keep an eye on the operation? It is very hard to believe. Especially when you see officers asking for control of the miners several times in the board chat. This stubbornness to keep the operation in his own hands after having the miners down 2/3rd's of the time only reinforces the idea that he was using the miners for himself. It is either that or gross mismanagement after receiving our near 50 BTC in investments.

Here is the pastebin of me confronting barwizi over all this missing money:


Quote


Quote
[1:31:44 PM] Chocobo: ok well the GF should have a shitload more in it
[1:32:09 PM] Noir X: from where?
[1:32:35 PM] Chocobo: 157500 NRB, 474.99 PTS, 167112.76 NRS
[1:32:41 PM] Chocobo: from the shares
[1:32:47 PM] Noir X: ALL of that is mine
[1:32:56 PM] Chocobo: there was enough BTC to pay for the miners
[1:33:06 PM] Chocobo: the rest belongs to the GF
[1:33:14 PM] Noir X: No there was not
[1:34:05 PM] Noir X: Entire GF investment went into miners
[1:34:11 PM] Chocobo: no lol
[1:34:35 PM] Chocobo: how much BTC was in the GF shares on your accounting of it
[1:35:21 PM] Noir X: https://docs.google.com/spreadsheet/ccc?key=0AhCtiOzdwvPydEdVS21zTlptWjVGZkgxeDhxMUlzY3c&usp=drive_web
[1:35:35 PM] Noir X: that is the original doc
[1:35:52 PM] Chocobo: thats out of date
[1:35:59 PM] Chocobo: there are 50ish shares
[1:36:07 PM] Chocobo: and even by that account
[1:36:12 PM] Chocobo: there was 27 BTC
[1:36:33 PM] Chocobo: you dont get the rest of it as a tip for ordering


Quote
[3:31:50 PM] Chocobo: why didnt you record the 80k in the premine accounting document?
[3:32:27 PM] Noir X: because it ceased to be part of the premine when i took it
[3:32:40 PM] Chocobo: um no it didnt
[3:32:48 PM] Chocobo: thats not how it works
[3:32:56 PM] Chocobo: 80k went to you
[3:32:59 PM] Chocobo: record it


Quote
[3:45:03 PM] Chocobo: the other thing you need to find is do u remember when you were selling NRS for .00085-.001 BTC per from the premine?
[3:45:07 PM] Noir X: we even made a different implementation that may end up as part of any new poject that comes up
[3:45:16 PM] Noir X: yes
[3:45:52 PM] Chocobo: it looks like you sold around 43861.58 NRS
[3:46:01 PM] Noir X: yes
[3:46:02 PM] Chocobo: thats a lot of BTC
[3:46:05 PM] Noir X: i think
[3:46:19 PM] Noir X: but not all of it was at that price
[3:46:24 PM] Noir X: i think
[3:46:25 PM] Chocobo: you were entitled to 30-43 BTC in that way?
[3:46:31 PM] Chocobo: from the company fund
[3:46:38 PM] Noir X: that was long before there was any noir group
[3:46:50 PM] Noir X: that was when it was , Barwizi + new coin
[3:46:58 PM] Chocobo: there was NG
[3:47:05 PM] Chocobo: i have the thread
[3:47:23 PM] Noir X: yeah and who was i working with at that time?
[3:47:32 PM] Chocobo: omg dude how much BTC did NRS that you didnt own make you
[3:47:39 PM] Noir X: actually, lets stay on course
[3:47:47 PM] Noir X: so you wish to know what happened to the BTC ?
[3:48:04 PM] Chocobo: what BTC?
[3:48:52 PM] Noir X: i traded for any alt , then traded to BTC
[3:49:03 PM] Chocobo: yeah
[3:49:06 PM] Chocobo: still BTC
[3:49:11 PM] Noir X: you just mentioned the NRS i sold in the beginning
[3:49:26 PM] Noir X: well, most of it is undocumented


Quote
[3:53:09 PM] Noir X: do you know that we maintain a paid Github account? Or that we have had servers (two expired , we have 2 left) for the greater part of the year ?
[3:53:52 PM] Noir X: We had at a point 6 permanent nodes to kep the network up, which were paid for using BTC i got from selling PTS i got from the LTB guy
[3:54:30 PM] Noir X: even now, where do you think the server that did the snapshots came from?
[3:55:17 PM] Noir X: We got a lot of publicity in the beginning which was not free, but none of those costs were mentined
[3:55:49 PM] Noir X: even now i can give you access to one of the servers that has the beginnings of an exchange
[3:55:53 PM] Chocobo: what did you pay for publicity and through who?
[3:56:38 PM] Noir X: hell if i know, i can look through the pms and on the other forums
[3:56:48 PM] Noir X: you know that we had a forum ?
[3:57:06 PM] Noir X: dont you wonder where all that infrastructure came from ?
[3:57:31 PM] Chocobo: yeah noirbitstalk?


A few things about this last quote. A github paid account is $7 a month. We didn't even have one the whole time. The servers were not for a greater part of the year, as NG hasn't been around for a year. As for the servers and the forum, they are inexpensive and I know one of them is paid for by an officer. This 'justification' should make you sick. Barwizi likely ended up with AT LEAST 50-100 BTC that should of belonged to the GF. With the NRS price after a month the GF would have been very well off and able to fund actual projects.

This conversation was had before I finished my accounting, so some of the numbers were not figured out. The numbers I posted here are more accurate.


Barwizi has had months to prove expenses, and try and justify all of this. The fact of the matter is than even if there were 20 BTC of legit expenses that I didn't find he still took a TON of BTC from us. I don't even feel like looking at what these funds were worth when NRS held a 30k sats price. He lied to us as investors. A 'ground-breaking' feature was always two weeks away. While we bought in anticipation he dumped on us. You may have seen my disappointment in the quality of work done by our officers. Now that I reviewed all of this I realized that he contributed to their failure by keeping the funds away from them and in the dark as far as development goes. The officers failed, no doubt, but they tried.

I will be stepping down from COO. Don't worry, I was never paid and will never accept payment. I really didn't start working until a month ago, and most of my time was spent working up a redesign/relaunch for NRB and NRS as well as a full marketing plan. My work was ruined when barwizi decided to announce a merge without so much as asking me. He did this because he wasn't capable of developing a feature we planned for NRB. It is a shame this didn't work, I was very excited to work on a decentralized company, and my next order of business was to COMPLETELY re-brand NRS. I was going to make it simple. I also had my brother help barwizi program for free, and was going to bring on a second programmer/web designer. These two are good, they could have done the code barwizi couldn't.

If you are not aware barwizi launched a side project today:

https://bitcointalk.to/index.php?topic=791338.0

He launches this while Noirshares is in between a blockchain swap and in shambles. You can't even trade the new NRB/NRS because the markets are on the old chain. His new project really pissed me off today. Here is what he had to say:

Quote
it's irritating to say the least that you think i am in some way tied to NG, i chose to stick with it and do NRS 2.90 as well as colored coins (project X), Antimatter aka XUC is in no way a part of NG. and you want to complain yet it is already in the list of coins participating.

With the amount of BTC he took I sure hope he feels some obligation to deliver on his promises to us.

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September 22, 2014, 05:27:05 PM
 #11

barwizi deleted my post in his thread which questioned his legitimacy...

https://bitcointalk.to/index.php?topic=791890

He then PM'ed me with this link...

https://bitcointalk.to/index.php?topic=770744.msg8923688#msg8923688
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September 22, 2014, 05:33:59 PM
 #12

barwizi deleted my post in his thread which questioned his legitimacy...

https://bitcointalk.to/index.php?topic=791890

He then PM'ed me with this link...

https://bitcointalk.to/index.php?topic=770744.msg8923688#msg8923688

He deleted my post 4 times..

Kahir - Scamming dev of Rebirthcoin https://bitcointalk.to/index.php?topic=798159.msg8977686#msg8977686 gets a free happy meal!!
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September 22, 2014, 05:46:54 PM
 #13

barwizi deleted my post in his thread which questioned his legitimacy...

https://bitcointalk.to/index.php?topic=791890

He then PM'ed me with this link...

https://bitcointalk.to/index.php?topic=770744.msg8923688#msg8923688

He deleted my post 4 times..

I got deleted twice.
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September 22, 2014, 06:09:23 PM
 #14

I suggest you all leave Barwizi negative trust on his accounts (Barwizi, NoirGroup LLDC)

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September 22, 2014, 06:16:23 PM
 #15

thank you very much chocobo, was not easy. this is bad news!

I'm curious what he says !?


First I'll start with this EmbarrassedQuote
He launches this while Noirshares is in between a blockchain swap and in shambles. You can't even trade the new NRB/NRS because the markets are on the old chain. His new project really pissed me off today. Here is what he had to say:

I do not see where I agree that my every idea now belongs to this group, the full message is as follows

Really man, project x outside of NG?

PROJECT X is NG.
PROJECT XUC is not.

They are unrelated and shouldn't be confused. Project X is called that because it has no real "Noir" name yet. couldnt really call it NoirColor, or is your question about me doing something other than NG?

Did you see my messages on skype? Our VPS provider is down , meaning our seednodes are down. I will set up new ones but  it will have to be mid week so i can confirm payment.

I can either send the group NRS now to old NRS addresses or send to new ones, the OLD NRS will likely just be immediately dumped.

The revive dead alts idea, you know exactly what im talking about. What you just bounce your ideas off me and the board for personal use? OLD NRS are useless so obviously the new ones......nice try.

The only reason to send the old NRS is to prove they exist outside the old one not just a blockchain manipulation. "the revive dead alts" idea as you call it is a brain child almost a year old  and as for your sarcasm, How in any way is Colored coins related to this? Project X remains and will be done after NRS ,  all other ideas of mine, remain mine until i decide to share them. and if you dont like that i discuss my plans with you i will stop.

it's irritating to say the least that you think i am in some way tied to NG, i chose to stick with it and do NRS 2.90 as well as colored coins (project X), Antimatter aka XUC is in no way a part of NG. and you want to complain yet it is already in the list of coins participating.

Since i have your attention, koontas seems to have every confidence in you recently, quite a surprise.

nice try huh?  what did you think i was trying?

You can see clearly that i made clear there is a difference between the project for NG and the one i am doing myself to fulfill an idea i had a year ago. He feels as though i am intellectually tied to Noir Group so i should not do anything annd not give it to the group. I feel otherwise, i can choose which ideas to share with the group and which to implement on my own as they are my ideas.

Quote
If you are not aware barwizi launched a side project today:

I think this is the first place i posted about my idea and i included NoirShares automatically.

Quote
I will be stepping down from COO. Don't worry, I was never paid and will never accept payment. I really didn't start working until a month ago, and most of my time was spent working up a redesign/relaunch for NRB and NRS as well as a full marketing plan. My work was ruined when barwizi decided to announce a merge without so much as asking me. He did this because he wasn't capable of developing a feature we planned for NRB. It is a shame this didn't work, I was very excited to work on a decentralized company, and my next order of business was to COMPLETELY re-brand NRS. I was going to make it simple. I also had my brother help barwizi program for free, and was going to bring on a second programmer/web designer. These two are good, they could have done the code barwizi couldn't.

He is free to step down as he wishes, noone will hold t against him. This was also another issue for him, he was against the idea of the merge When i asked for his reasons, he said it was because he had done work on NRB relaunch and i stated that that was not enough to justify having two currencies. He tried to resist but it happened anyway. I see no point in this post, It was decided by majority vote to merge and that is what I did. As for his brother being a talented coder, that is quite true, except while he knows code he was still learning crypto and as a result any project done with him would take much longer, you all should know if Chocobo had his way NRS still would not have been released by now.

Quote
Barwizi has had months to prove expenses, and try and justify all of this. The fact of the matter is than even if there were 20 BTC of legit expenses that I didn't find he still took a TON of BTC from us. I don't even feel like looking at what these funds were worth when NRS held a 30k sats price. He lied to us as investors. A 'ground-breaking' feature was always two weeks away. While we bought in anticipation he dumped on us. You may have seen my disappointment in the quality of work done by our officers. Now that I reviewed all of this I realized that he contributed to their failure by keeping the funds away from them and in the dark as far as development goes. The officers failed, no doubt, but they tried.

I told him and i told others, if i am the one accused it is not right for me to do the audit myself, which is why i handed in the documents to them, so they could assess the situation. He says the officers tried, i feel this statement i misleading. We supposedly had a CDO, if we have a CDO, what part of NRS development did he try? If we have a CMO, have we seen any marketing done in the last three months? Frankly, I am the one who should be dissapointed because i spent a lot of time working to put this together. What funds ? Since you can't be bothered to really post things then i will


WE SHALL DO THE ACCOUNTING HERE

If you find something you want to ask about, quote the area and ask.



If anyone disagrees with the amount under their name please notify me.

A total of 28.95 BTC invested
A total of 157k NRB  invested
A total of 165k NRS invested


Note:
please fill the following form after payment
1)delivery miner: https://docs.google.com/forms/d/1pHdophm3QgKggYY5H6Vl7Wta5IX6jgbRtpuHR65O-bg/viewform
2)host miner:     https://docs.google.com/forms/d/1moJLc8RH27CduZodV0RD-jrRP21X6IeEQU0Vkp7auZA/viewform
The list of buyer are shown here
---------------------------------------------------------------------------------
Lee group, round 5
time-------------------buyer----amount
4/9/2014 17:06:01   drekken   2
4/10/2014 6:19:32   Jesehl   2
4/10/2014 16:05:14   Swimmer63   1
4/13/2014 8:25:03   Powell   1
4/14/2014 2:20:47   jdot007   1
4/14/2014 7:20:47   Ando Kivilaid   1
4/15/2014 5:06:09      usbminer  1
4/15/2014 17:35:52   Cheeseater   1
4/15/2014 19:30:09   finlof   1
---------------------------------------------------------------------------------
[Lee group, round 4]
No-status-- amount-buyer--escrow--pay--order data
1   completed   3   varakunai   directly   btc   26-Mar-14   
2   completed   1   jleefly   directly   btc   26-Mar-14
3   completed   1   Enrico   directly   btc   26-Mar-14
4   partical pay   1   Cantrip   directly   btc   26-Mar-14   
5   completed   3   bilabonic   directly   btc   26-Mar-14   
6   completed   1   Clucknutz   directly   btc   26-Mar-14   
7   completed   1   Ryaner84   directly   btc   2014-3-26   
8   completed   5   Tegija   directly   btc   2014-3-26   
9   completed   1   Und3rd0g   directly   btc    25-Mar-14   
10   completed   1   nzgrant   ognasty   btc    26-Mar-14   
11   completed   1   Uncle Scrooge   directly   btc    26-Mar-14   
12   completed   1   muzzyshop   directly   paypal   26-Mar-14   
13   completed   3   derico5   directly   wire transfer   28-Mar-14   
14   completed   1   eestimees   directly   btc    29-Mar-14   5-Apr-14   
15   need confirmation   0   lenny_   directly   wire transfer to company account   31-Mar-14   
16   completed   4   gallary2000   directly   paypal   31-Mar-14   
17   completed   1   purenewfoundlander   directly   paypal   31-Mar-14   
18   completed   1   lenny_   directly   wire transfer to company account   3
19   partical pay   1   warhawk187   directly   btc    31-Mar-14   
20   canceled   0   Dutchminingnl   directly   paypal   31-Mar-14   
21   completed   1   samcap64   directly   paypal   31-Mar-14   
22   completed   1   PurpleDino   directly   paypal   31-Mar-14   
23   completed   1   stevej   directly   paypal   31-Mar-14   
24   completed   1   sneakgeekz   directly   btc   1-Apr-14   host   
25   completed   1   krismach   directly   btc    2-Apr-14   
26   completed   2   xoun   ognasty   btc&paypal   2-Apr-14   
27   completed   1   GigaWave   directly   btc   3-Apr-14   
28   completed   1   cjbriere   directly   paypal   3-Apr-14   


Total 37 units, 10 unit for host and 36 unit have been locked

----------------------------------------------------------------------------
[Lee group round 3]

No-status-- amount-buyer--escrow--pay--order data--departure--arrival
1   completed   3   merv77   directly   btc    18-Mar-14   29-Mar-14
2   completed   2   sudoku    directly   btc    19-Mar-14   host
3   completed   3   warhawk187   directly   btc    20-Mar-14   host
4   completed   2   barwizi   ognasty   btc    21-Mar-14   2014-3-29
5   completed   2   eestimees   directly   btc    21-Mar-14   2014-3-29
6   completed   2   hausky   ognasty   btc    21-Mar-14   2014-3-29
7   need comfirmation   1   cobra89y   directly   wire transfer   21-Mar-14   2014-3-29
8   completed   1   sikke   directly   paypal&btc   22-Mar-14   2014-3-29
9   completed   2   derico5   directly   wire transfer to company accout   22-Mar-14   2014-3-29
10   completed   1   Sitaga   ognasty   btc    22-Mar-14   2014-3-29
11   partial pay   1   JR   directly   btc    23-Mar-14   2014-3-29
12   canceled   2   bilabonic   ognasty   btc    23-Mar-14   2014-3-29
13   completed   1   apollojmr   directly   btc    20-Mar-14   2014-3-29
14   completed   1   biggzi   directly   btc    23-Mar-14   2014-3-29
15   completed   1   Uncle Scrooge   directly   btc    23-Mar-14   2014-3-29
16   completed   1   Jesehl   directly   btc    19-Mar-14   29-Mar-14
17   completed   1   resort    directly   btc    23-Mar-14   29-Mar-14
18   parcial pay   1   daddyfatsax   directly   btc    23-Mar-14   29-Mar-14
19   half pay   1   shmendes   directly   btc    24-Mar-14   host
20   need comfirmation   10   bobsag3   directly   wire transfer to company accout   20-Mar-14   29-Mar-14
21   completed   2   gh2k   directly   btc    24-Mar-14   host
22   completed   2   gallery2000   directly   paypal   24-Mar-14   29-Mar-14
23   completed   1   biffa   directly   btc    24-Mar-14   host
24   completed   2   "albela83"   directly   paypal   25-Mar-14   29-Mar-14
25   completed   1   kphil   directly   paypal   25-Mar-14   29-Mar-14
26   completed   1   Und3rd0g   directly   btc    25-Mar-14   31-Mar-14
27   completed   4   seriouscoin   directly   btc    25-Mar-14   31-Mar-14
28   canceled   2   Tuan          20-Mar-14   
29   canceled   1   criptix   ognasty           
30   pending   5   Miller   ognasty   btc    21-Mar-14   
      
      

total: 60 unit and 52 unit are locked

------------------------------------------------------------------------------------------------------------------------------------------
[Lee group, round 1]
No.--amount--order data--departure---arrival-------buyer----guarantor--express
1-----1-------2014-3-13--2014-3-15--2014-3-18--sudoku---ognasty----ups
2-----5-------2014-3-13--2014-3-15--2014-3-17--bobsag3--OgNasty----ups
3-----1-------2014-3-13--host from 2014-3-15----gh2k-----------     ----------
Update:
The miner for delivery have been sent via ups, and the miner for hosting has already mine for you gh2k, you can check the hash rate right now  Smiley
--------------------------------------------------------------------------------------------------------------------------------------------
[Lee group, round 2]

No   amount    order data   departure    arrival    buyer   guarantor        payment method    payment status
1   3   2014-3-15   2014-3-19                      barwizi      OgNasty   btc                          completed
2   3   2014-3-17   2014-3-19                      newguy05   OgNasty   btc                          canceled
3   2   2014-3-15   2014-3-19                      Powell      OgNasty   1btc$1paypal          completed
4   2   2014-3-15   2014-3-19                      gallery2000              paypal                  canceled
5   1   2014-3-16   2014-3-19                      Suave                      paypal                  completed
6   1   2014-3-16   host                                      Bordomboy directly           btc                          completed
7   3   2014-3-16   2014-3-19                      bobsag3      directely   btc                          completed
8   1   2014-3-16   host                                      ryaner84                      paypal                  completed
 

16 units are sold in this batch, only newguy0t's 3 unit is still waiting for payment, all other 13 unit have completed payment, thanks for your support, i will deliver the miner in 19 March as i promised

---------------------------------------------------------------------------------------------


Highlighted in Bold are the purchases of 5 miners for the group. Which i paid for in advance with my own BTC.

The transactions are here

https://blockchain.info/tx/dc34ec3375aaef7d7a6a071ee9b882a9a32e3e50bfcd8cb8868ed486b6bd2617
https://blockchain.info/tx/634872c1d25d72677295d102147823db91e8607e9152153fff37b45a7e5d145e
https://blockchain.info/tx/507b2eb0d4d8f92ece1ebe5102f4523e42c6a9320277bdbea10d79f3793c7e18
https://blockchain.info/tx/336b37f26d728f504735e413bc5bf381105411566956313e8ca1cba017c92304
https://blockchain.info/tx/ee4c96dd03441e8f386147a5102e42ea654449002d140763e583e56fdd660196
https://blockchain.info/tx/db1463432149eb59d7b35f313a5c9455a6a6fd13b2a96939eb3818f601461508

Please feel free to verify with the above quoted supplier and with Ognasty who did escrow. The total is 32.9655 BTC

So, if we look at the total investment of

Quote
A total of 28.95 BTC invested
A total of 157k NRB  invested
A total of 165k NRS invested

There is a BTC short fall of 4.0155 BTC

So since the BTC is not enough, we add the NRB

Which was valued at 1.831395349 BTC

leaving us with a short fall of 2.1842 BTC

Lets look at the Policy that i instituted for NRS in the beginning, 10000 NRS ==1Share==1 BTC

This however changed when the prices started dropping so i began to use market exchange rates since it was my OWN BTC i was risking by allowing people to buy in with NRS and NRB



You'll see that NRS investments were adjusted based on price and everyone agreed with their investment share.
[/u]

We now have NRS at an average price of 0.00004 which in BTC is 6.68 BTC  meaning I have to account for   4.4958 BTC

On receipt of these miner i had to pay import duty and other taxes totaling +7 BTC (these payments were now straight FIAT out of my pocket)

Which again means i am owed a shortfall of 2.5342 BTC

SO UP TO THE RECEIPT OF THE MINERS, THERE IS A SHORTFALL OF 2.5342 BTC OWED ME

Initially, the miners were setup in my home, so that is i was incurring costs of 5kwh*24 per day in electricity costs

at a cost of 0.15 per KWH it amounts to $18.00 for electricity DAILY

The miners were in my home for 2 months so that is 18*60 == $1080 in FIAT costs to me which at the time is 2 BTC owed to me


Shows what we mined initially, of which we can remove the 4.5342 BTC owed me that means i need to account for 4.33043

The miners were moved to a hosting facility after it became clear that to maximize their capacity and to free me from watching them they had to go.


The initial cost of hosting was a bit higher because we had to pay extra for thing s like "fire suppresion" , the host facility was not originally intended for hosting. The cost in BTC was 2.2

Cost of hosting 5 x 1 TH

June 2.2 BTC
July 1.4
August 1.5

leaving a deficit of 0.769 BTC

There was additional BTC mined to this address


Meaning that i need to account for 3.07 BTC

We had a multipool idea brought up by Koontas which cost us 3.5 BTC

The multipool was a failure
[/b]

 
I have been corrected by Frigga77 , i forgot the PTS and miscalculated the BTC by 0.2.

Leaving me to account for 4.37 BTC at this point


Again if you see misdirection, please quote it and we can delve into it further. If i leave out anything, it's not on purpose i would have overlooked it and if you point it out, it will be added here.

There is a host of costs i incurred and was reimbursed but cannot prove save for pictures,  these are small but many , like the constant replacement of P/S i did for a while as well as power cables and extra fans for cooling. These are small and insignificant so i'll just leave them for now.
lajz99
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September 22, 2014, 06:19:57 PM
 #16

^^^  Another rambling bunch of bullshit from Barwizi...  

The evidence against you is overwhelming at this point.  You are now labeled as a known SCAMMER.

Don't forget to leave that negative trust on Barwizi's account!!

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September 22, 2014, 06:24:35 PM
 #17

I see no response to the above evidence, cat got your tongue?

Well then, unless you can refute the above with solid evidence that can be corroborated , you stink!
5w00p
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September 22, 2014, 06:30:33 PM
 #18

I am not a stakeholder in all that mess, so I will not comment on it.
Regardless, you are a bad apple, so we try to prevent you from spoiling the bunch.
Good luck with your private key theft.
lajz99
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September 22, 2014, 06:36:13 PM
 #19

I see no response to the above evidence, cat got your tongue?

Well then, unless you can refute the above with solid evidence that can be corroborated , you stink!

FROM YOUR MOST RECENT COO:


Quote
I told him and i told others, if i am the one accused it is not right for me to do the audit myself, which is why i handed in the documents to them, so they could assess the situation. He says the officers tried, i feel this statement i misleading. We supposedly had a CDO, if we have a CDO, what part of NRS development did he try? If we have a CMO, have we seen any marketing done in the last three months? Frankly, I am the one who should be dissapointed because i spent a lot of time working to put this together. What funds ? Since you can't be bothered to really post things then i will

Yes you are right, I believe that the CDO (current dev of SSD) could have done MUCH more. As well as any officer still around.

Quote
The total is 32.9655 BTC [/b][/size][/center]

I think you put too many transactions up. In the six that you linked there is much more than 33 BTC. If you bought your own miner please separate it from that group.

Quote
Lets look at the Policy that i instituted for NRS in the beginning, 10000 NRS ==1Share==1 BTC

This however changed when the prices started dropping so i began to use market exchange rates since it was my OWN BTC i was risking by allowing people to buy in with NRS and NRB



You'll see that NRS investments were adjusted based on price and everyone agreed with their investment share.
[/u]

We now have NRS at an average price of 0.00004 which in BTC is 6.68 BTC  meaning I have to account for   4.4958 BTC

This is way off. First of all that document is out of date. Use Logans. Logan had a page that tracked the price of NRS for each purchase on poloniex. Do the math, the average price at the time was more around .00008 BTC. The NRS was worth 11.9205333703 BTC, there is no getting around that. Check poloniex guys. Barwizi just guessed at .00004 NRS.


Quote
On receipt of these miner i had to pay import duty and other taxes totaling +7 BTC (these payments were now straight FIAT out of my pocket)

Which again means i am owed a shortfall of 2.5342 BTC

You estimate that duty and taxes were 6.5 BTC in your own accounting. You repaid yourself several times. Get the receipts.



Quote
Initially, the miners were setup in my home, so that is i was incurring costs of 5kwh*24 per day in electricity costs

at a cost of 0.15 per KWH it amounts to $18.00 for electricity DAILY

The miners were in my home for 2 months so that is 18*60 == $1080 in FIAT costs to me which at the time is 2 BTC owed to me

I recall you bragging about free electricity. Once again, get receipts.

Quote

Shows what we mined initially, of which we can remove the 4.5342 BTC owed me that means i need to account for 4.33043

The miners were moved to a hosting facility after it became clear that to maximize their capacity and to free me from watching them they had to go.


The initial cost of hosting was a bit higher because we had to pay extra for thing s like "fire suppresion" , the host facility was not originally intended for hosting. The cost in BTC was 2.2

Cost of hosting 5 x 1 TH

June 2.2 BTC
July 1.4
August 1.5

You repaid yourself from the miners according to your own document. The cost of hosting was paid by two of the miners, not paid out of your pocket.



Quote
We had a multipool idea brought up by Koontas which cost us 3.5 BTC

It cost 3.0 BTC.



Quote
I have been corrected by Frigga77 , i forgot the PTS and miscalculated the BTC by 0.2.

The PTS were worth 4.7749 BTC. Guys he is just guessing at the value of the coins. Check the charts and Logans document.


At the end of the day, even if we use barwizi's inflated figures he ended up with way too much of our BTC. We aren't even at the premine/missing mining op BTC yet.


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September 22, 2014, 09:23:09 PM
 #20

Man if I had money I would give some to chocobo for blowing the lid off of this and pming me with this info he just saved a lot of people a lot of pain in the future and I am just sad this didn't get out earlier
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