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Ahhhh, yes, I remember Mr. Shrem. He acquired my Bitcoin company in 2012, we signed an acquisition contract and everything, and then he just never paid me and t

Ahhhh, yes, I remember Mr. Shrem. He acquired my Bitcoin company in 2012, we signed an acquisition contract and everything, and then he just never paid me and threatened me when I tried to collect (it was a five-figure sum). And to think I'd even helped him with his college math homework.

delinka 8y ago
I’m hoping the contract’s execution was contingent on payment being received by you.
- nathancahill 8y ago
  If only there was a currency that allowed that..
  - concam 8y ago
    Good luck trying to code a few hundred years of common law into a smart contract.
    - microcolonel 8y ago
      If you could get investors on board and set up the company books correctly, it'd be a good, stable permanent job. ;- )
    - fouc 8y ago
      Start with one step. Then take another. Step by step. Be not daunted.
- derefr 8y ago
  It always is, at least in the US. See (the legal doctrine of) https://en.wikipedia.org/wiki/Consideration https://en.wikipedia.org/wiki/Consideration. Specifically this part: > Consideration cannot be illusory A contract without consideration is void. If you promise to give someone X (that you own) if they give you Y (that they own), and you never give them X, then you don't own their Y, even if it's already in your possession. You just (non-forcefully) stole their Y—same as if you e.g. asked to borrow someone's phone and then walked away with it.
icedchai 8y ago
I'm curious. What sort of "company" is acquired for 5 figures? I assume that's in USD and not BTC.
- apsec112 8y ago
  Just a website where I sold people Bitcoins over the Internet in my spare time. I don't think the scare quotes are warranted, I had over $1 million in total volume and it was consistently profitable.
csomar 8y ago
> threatened me when I tried to collect That part is not really clear. My understanding is that if he physically threatened you, you could file for a criminal case and he'll be in much deeper trouble than just not paying.
jtl999 8y ago
That sucks
twblalock 8y ago
Did you take him to court over the issue?
- ddtaylor 8y ago
  Around 2012 was a very problematic time to take someone to court with respect to Bitcoin. This was right around the time the SEC and other agencies were beginning to treat cryptocurrency as a money / brokerage and wanting people to get licenses, whereas almost every operating Bitcoin company had no such licenses.

delinka 8y ago

I’m hoping the contract’s execution was contingent on payment being received by you.

nathancahill 8y ago
If only there was a currency that allowed that..
- concam 8y ago
  Good luck trying to code a few hundred years of common law into a smart contract.
  - microcolonel 8y ago
    If you could get investors on board and set up the company books correctly, it'd be a good, stable permanent job. ;- )
  - fouc 8y ago
    Start with one step. Then take another. Step by step. Be not daunted.
derefr 8y ago
It always is, at least in the US. See (the legal doctrine of) https://en.wikipedia.org/wiki/Consideration https://en.wikipedia.org/wiki/Consideration. Specifically this part: > Consideration cannot be illusory A contract without consideration is void. If you promise to give someone X (that you own) if they give you Y (that they own), and you never give them X, then you don't own their Y, even if it's already in your possession. You just (non-forcefully) stole their Y—same as if you e.g. asked to borrow someone's phone and then walked away with it.

icedchai 8y ago

I'm curious. What sort of "company" is acquired for 5 figures? I assume that's in USD and not BTC.

apsec112 8y ago
Just a website where I sold people Bitcoins over the Internet in my spare time. I don't think the scare quotes are warranted, I had over $1 million in total volume and it was consistently profitable.

csomar 8y ago

> threatened me when I tried to collect That part is not really clear. My understanding is that if he physically threatened you, you could file for a criminal case and he'll be in much deeper trouble than just not paying.

jtl999 8y ago

That sucks

twblalock 8y ago

Did you take him to court over the issue?

ddtaylor 8y ago
Around 2012 was a very problematic time to take someone to court with respect to Bitcoin. This was right around the time the SEC and other agencies were beginning to treat cryptocurrency as a money / brokerage and wanting people to get licenses, whereas almost every operating Bitcoin company had no such licenses.