I agree

Just remember, just because something is worthless doesn't mean it's worth nothing. Many family fortunes have been made by buying what people thought was worthless for pennies on the dollar. There is and always has been opportunity buying what nobody wants anymore. Like the last days of an OTM option have proved, events can change on a whim. Countries go to war. Shock waves of minimal value to outright paper fortune have been made from a change that took only seconds, literally. It is up to you to figure out what is real and what is not.

Unbelievable, Just killing the price of lock chips right now... Jezz
Im seeing some trades below .30
WTF

The ironic part is if people actually believe that's the end game plan (and not bankruptcy, since with bankruptcy they'd have no reason to buy any, they'd just either run with it or declare bankruptcy legally) you should probably be buying right now. I'm not one to give Lock the benefit of the doubt, but anyone spouting theories on how Lock's going to let the money get close to worthless and then buy it to become solvent again would buy Lock money right now if they truly believed that to be the case. Of course they don't actually believe it though, so yeah please stop making up conspiracy theories.

Seems like a pretty simple case of Occam's Razor: They aren't processing non-US cashouts because they don't have the money to process them. Given that they control the currency it would be insanely easy for them to drive down the price of lock money much quicker than they have done, and then once they bought it all up they could then drive the price back up to normal levels (85-95%) relatively quickly as well. It's more likely that their road to solvency instead lies on trying to collect deposits and rake them to make up for the money they don't have.

The conspiracy theorists just want some hope to hold onto. They're broke and it's proof from how long it's taking ROW cashouts to process. They found a scapegoat and a way to coax players to deposit more for just a little while longer by not having to cashout max withdrawals in hope that they could gain more money to stay afloat.

I don't know why these poker companies just don't flat out say "We're broke." While it's not appetizing to say, it's better to say than hiding under lies.

Total and utter bull****.

I am a legitimate player yet my withdrawal was cancelled.

Right now I have a relative of mine in hospital with over $50,000 bills and I was going to use the lock money to pay for those bills.

Lock actions are hurting people!
Im positive whoever is responsible for this will be hurt in the future if remedies arent created.

Lock is doing, what it's accusing other player of doing.. Shane has stated there is cashout priority list and the existence of "affiliates", with said priority status.. again not a tough scam to figure out..


This.


Merge seems poised to follow suit. longer cashout periods, and the recent overlay in the most bug filled poker series ever ran, do not bode well..

while i agree with you, this isnt quite fair, as who knows if lock will ever let me cashout the money i buy, even if it is currently undervalued

I said it was a theory when I stated it.. I personally believe they will continue taking deposits and find any way possible to deny large withdrawals..

It would seem better, from their standpoint, to continue to make their profit from rake by regulating withdrawals.. To always make sure the rake stays above outgoing withdrawals, so there can always be profit..

It's quite obvious lock wants the money to stay on the site, where it they can control how much you can get..

Again this is a theory.. It's quite possible lock is this incompetent and lock rep missed more than a few economics classes in school.. yet one has to admit that the angles are there.

This sentence is gibberish.

**** YOU shane for suggesting that a reputable audit firm would not be trustworthy with your information. The firm I work for, as well as many other firms, handle more sensitive information than anything your organization can possibly have, with flawless integrity time and time again.

The reality is, Lock will not find a reputable audit firm to take them as a client. Lock admittedly conducts prohibited activity, any reputable firms' appearance controls would not allow such a relationship.

and **** YOU again as an employee of a company that admittedly conducts prohibited activity suggesting that my or my colleagues legitimate firms cannot be trusted with a list of bank accounts, peoples names, and addresses.

Ignorance without bliss means there is a problem **********.

If I had to hazard a guess, I think the legal department said "oh HELL no" when the topic was broached of letting some randoms (even accredited, reputable randoms) sift through their financial documentation. Everyone has a couple skeletons in their closet, and a lot of people don't even know they're in there until an audit is done. From the legal team's perspective, they have everything to lose and nothing to gain.

From a public relations perspective, however, the audit is crucial. I don't think the legal department appreciates that their paychecks might start bouncing if they don't agree to some sort of audit soon. They would be way better off doing so now while they still have a tiny bit of leverage rather than after it's hit the fan, or worse, when they're wearing orange jumpsuits and trying to find a criminal defense attorney that accepts Lock funds.

Update:


Still nothing from lock security.

Yeah I think at this point we would all be okay with some shady **** from Lock's past if it meant we got our funds now.

OP 4/21

ironically Joseph from Lock Poker Security is the responder in the original email.

Apparently...

Haha... perhaps they'll explain the new policy to the OP over Twitter rather than email him directly. It's only 10k that he can't cashout and hasn't received a reply in 3 weeks.

Pff who cares about 10k if you can trash a whole castle?

Shane reminds me of this pathological lying boat dealer I dealt with once. Their answers never make any logic.

Accusing people of driving down the price of Lock by buying is soooo ass backwards it makes my head hurt.

As mentioned before, Lock very well may be trying to buy up funds at .20 or less on the dollar. If they don't let anyone cash out, people will be forced to sell their funds. Nobody but Lock will be buying them because they are essentially worthless. So they can right their books and become solvent again.

If they manage to become solvent again then they will be able to start processing cashouts and so forth.

They are either doing this or they are just running with the money.

100% lock does not have the funds.

its just unreal , if you think about it all most funny if wasn't because of players funds. the whole thing from misleading rep , to the p2p , to the lack of payments to players, to trip by lock pros in the midst of all this. I mean everything says wtf kind a of company is this to be run so poorly . If they do have players funds who would want to play there after all this is handled so badly. I hope players get there funds and run not walk away . I will use my 1 time if that helps iv been burn twice myself and I know the sick feeling of it.

Or.. you "could" gang up with a bunch of guys with a bit of cash behind. The a few posts get done to deface Lock.

A couple of the gang start posting in the transfer thread offering their lock funds 5-10c bellow the current rate and close those deals with their buddies so the money will stay in the group.

Of course any of the gang wouldn't buy any lock funds bellow a certain value so you PM people looking to sell their funds telling them going rate is X.. see the link here just bought 2k of Y.

Do that for a few days and you influenced the market.

Similar thing is sometimes done in trading specially with open orderbooks by placing blocker orders to have traders on lower order than the large sale order placed move theirs above the block.

Anyway.... end of the day poor processing times are the main issue.

idk it does look like there going to open that row pipe a little while not the usa forcing usa players to make row trades if they ever hope to see there funds it seems strange

my ROW pipe still seems to be blocked up

Just going by the first post of OP, this is a bunch of bull****

luv 2+2