Bitcoin Forum

It is with great sadness and regret that I must announce my plan to close down the fund (NYAN.B).

Your choice of an equal weighting of 3 to 5 securities from NYAN.B or NYAN.C.

To encourage everyone to get this done quickly, it's going to be first-come first-serve as to who gets to choose which assets. After all shares have been exchanged back into the fund and/or bought back, NYAN.B will be delisted. It sucks, but I'm going to do the right thing here. Again, if you *prefer* any of these assets, let me know.

Nyancat Financial Contract for NYAN.B (Balanced Risk Fund)
1. The Balanced Risk Fund ("NYAN.B") profits solely from investment in, and ownership of, bitcoin businesses which are not mining operations and not exposed to "pirate".
2. Investments are chosen entirely based on sector; we seek to invest in the bitcoin community at large; but again, no mining, and no pirate.
3. NYAN.B will pay as dividend from the pool of A, B and C the lesser of 0.02 bitcoins per fund unit and the amount remaining after NYAN.A pays dividends.
4. Holders of NYAN.B are guaranteed second claim (after holders of NYAN.A) to any holdings, bitcoins or other assets of NYAN.
5. Dividends are paid weekly, to be paid within 30 days of the end of any unpaid calendar week.

Nyancat Financial Contract for NYAN.C (High Risk Fund)
1. The High-Risk Fund ("NYAN.C") profits solely from investment in, and ownership of, high-yield securities.
2. Investments are chosen entirely based on their interest rate without regard to the risk profile.
3. NYAN.C will be paid whatever isn't paid to NYAN.A and NYAN.B.
4. Holders of NYAN.C are guaranteed no rights or claim to any assets of NYAN, NYAN.A, or NYAN.B.
5. Dividends are paid weekly, to be paid within 30 days of the end of any unpaid calendar week.

Usagi should not be shutting down NYAN in this order. It's simple contract violation.

Did you contact usagi about this? GLBSE?  other shareholders? What was their response?

This has been explained to you. You own 50 shares. There are 1542 shares out. Your voice counts, but you cannot tell me what to do with my fund.

I work for the shareholders and I don't even take management fees on NYAN.B. If you want a motion will be entered.

That's about it. This doesn't deserve a scam accusations post. Nimda is just an asshole.

Lol do you want me to run a motion on it? Oh wait, you're not a shareholder, and you have a history of trolling. Suprise suprise.

No, actually, Nimda does not have a history of trolling. What he does have is a history of calling out fraudulent behaviour when he sees it. That is NOT trolling. You should not misuse words in an attempt to wrongly discredit nimda. You claim to be an English teacher after all.

No, actually, Nimda does not have a history of trolling. What he does have is a history of calling out fraudulent behaviour when he sees it. That is NOT trolling. You should not misuse words in an attempt to wrongly discredit nimda. You claim to be an English teacher after all.

I remember lurking back when the nyan idea came into play.
It came as a result of this thread I believe: A risk/reward analysis of insured Pirate returns: PPT.X, YARR, GIPPT, Hashking (https://bitcointalk.org/index.php?topic=96092.msg1069034#msg1069034)
The thread gives a few clear examples.

This is a little complex, so pour yourself a cup of coffee and take a comfy seat.

A CDO is basically an arrangement that works as follows : an issuer (I) takes a pile of debt of various entities (D1...Dn) in set ammounts (Q1...Qn) and piles it all together. The pile is then tranched, which means say that 25% of it goes to class A, which gets pA, 35% goes to class B, which gets pB and the remainder 40% goes to class C, which gets pC. The catch is that with respect to capital, class A gets paid first. If and only if there's anything left, class B gets paid. If after all B is satisfied there's anything left over, class C gets paid. The counter-catch is that pC is significantly above pA.

Now let's work this out with an example.

MPEx takes in 1000 BTC of debt from entity D1, which pays a weekly 15% ; 500 BTC of debt from entity D2, which pays a weekly 12% ; 1500 BTC of debt from entity D3, which pays 11.5% and 2000 BTC debt from entity D4, which pays 10%, and bundles it all into a CDO. The total weekly revenue of this CDO is 1000×.15+500×.12+1500×.115+2000×.1 = 582.5 BTC, and the total capital in the CDO is 5000 BTC.

The CDO is now tranched, as follows : 1250 shares class A, which pay 7% per month, 1750 shares class B, which pay 11% per month, and 2000 shares class C, which pay 15.125%.

In the event all four entities remain solvent, the class C realises a 15.125% interest, which is superior both in ammount and as principal to the 1k @15% available from entity D1.

In the event any entity goes bankrupt, the CDO plays out as follows :
class A is due 1250 in principal and 87.5 interest = 1337.5 BTC.
class B is due 1750 in principal and 192.5 interest = 1942.5 BTC
class C is due 2000 in principal and 302.5 interest = 2302.5 BTC.

Should entity D2 have gone bankrupt, the total value of the CDO is now 1150 + 0 + 1672.5 + 2200 = 5022.5. This means that class A receives its 1337.5 BTC in full, and there's 3685 left over. Class B receives its 1942.5 BTC in full, and there's 1752.5 left over, so class C realises a 24% theoretical loss or 13% practical loss (principal only).

Should entities D2 and D4 have gone bankrupt, the total value of the CDO remains 1150 + 0 + 1672.5 + 0 = 2822.5 BTC, thus class A receives its 1337.5 in full, class B receives 1485 on its 1942.5 claim and class C realises a 100% loss.

The advantages of the CDO are then apparent : class A obtains excellent security (it loses no money even if half the debtors default) for a small interest, whereas class C obtains better interest than available in the market, in exchange for footing the risk.

Obviously, the actual % wouldn't be the ones quoted, this was just a numeric example.

So now, given that MPEx is considering creating a CDO of this sort, which lenders here would be interested to participate ? (Obviously people with a track record, good ratings etc).

Thanks for reading !

Well actually it's just an (uncredited) repost (https://bitcointalk.org/index.php?topic=76515.0):

+1000

This goes for the several people calling out fraudulent behavior.

Frankly, it makes you looks stupid, usagi, to continually be abusive, and call people stupid trolls for pointing out that your actions are consistent with fraud. You should instead be showing calmly how it is not, if indeed it isn't. But you don't seem to be able to do this.

because he felt that insurance should cover the cost of the premium -- a totally ridiculous concept. He supported it wit some kind of theory .. staked capital, that was based on a twisted form of opportunity cost.. and he wouldn't shut up.

He got very personal over it. I had to ban him from posting in my threads because he was that much of a problem. I am seriously not suprised to see him come up with some bullshit scam accusation against me, just in an attempt to kick me when I am down.

Can a mod lock these threads please?

Again, my model (not theory) correctly evaluated the risk of different bonds. It was mathematically sound, and I invite you to attempt to prove otherwise.
You're the one getting personal. Correct math is never personal.
Absolutely not.

What was the model?

I like how the usagi has now emptied all of its recent threads.

This will not help. Law enforcement surely already has copies.

I don't think the judge will be swayed by your argumentation along "You are a troll and stupid".  ::)

I don't think the judge will be swayed by your argumentation along "You are a troll and stupid".  ::)

For what crime exactly  :P

Issuing unregulated securitites of course. Laws don't simply disappear just because Bitcoin. A lot of people seem to think so. They are very very wrong about that.

I was going to say crimes against intelligence.

I was going to say crimes against intelligence.

No, this is inaccurate, I did not empty all my my recent threads. Several were left over including the thread keeping track of the money which I owe to people.

This is the problem though, isn't it? Instead of asking me what happened you just think you know. That is why you are stupid.

Issuing unregulated securitites of course. Laws don't simply disappear just because Bitcoin. A lot of people seem to think so. They are very very wrong about that.

The average person breaks 3 laws a day just going about their business.

Why do you break so many laws, noagendamarket? That's not very nice.

Why do you break so many laws, noagendamarket? That's not very nice.

Usagi just deleted all his posts and his website.

Usagi just deleted all his posts and his website.

Usagi just deleted all his posts and his website.

Just because glbse went down its not cool to try and rip off your shareholders if that is the intention.

Just because glbse went down its not cool to try and rip off your shareholders if that is the intention.

No I did not JUST do that. I did it last week, because I'm sick of your bullshit. Everything I say and do on here is twisted by you and your cronies into some kind of scam accusation. Fuck you. I wrote a letter to shareholders saying I was going to do this. My presence on these forums is over because of retards just like you.

And I did not delete ALL my posts. Notably I left open the post regarding the loans I took out because I intend to pay them back.

The Usagi will return in a blaze of glory to lead the forums into a new age of prosperity. Just like Jesus.

Think; it's been open for quite a while and a mod hasn't even asked a question about it?

[...] Think; it's been open for quite a while and a mod hasn't even asked a question about it? [...]

[...] Second point, GLBSE is gone and so are all my companies. So this thread is completely and utterly meaningless.

Second point, GLBSE is gone and so are all my companies. So this thread is completely and utterly meaningless.

So you think you can just keep all your clients and investors coins?

AFAIR, CPA "insurance" contracts had no clause that let you off the hook if GLBSE stopped trading.  Bit it did have a clause that you would reimburse your customers shareholders in the event they defaulted, which is quite likely to happen to more than a few now.

What coins are you referring to? Client's coins; yes, I will definately be keeping my client's coins that they paid, and completing my obligation to them. The only remaining client I am aware of is ABM, who prepaid for a year on insurance for one FPGA single. So yes, I will be keeping PsychoticBoy's coins, why on earth would I give them back?

Investor's coins --> See this is why you are a fucktard. First, I *just* said I will be paying back the loans I took out. So you can't read. Second point, I *just* said that everything we had was invested on GLBSE, and I will be distributing claim codes as I get them. So what's your problem? Are you mentally retarded?

So to be clear; you intend to honor your contractual obligations to Nyan.A bondholders by buying back all Nyan.A bonds at 1 BTC? You intend to honor CPA's contractual obligation to BMF shareholders that their shares have a NAV of at least 1 BTC? If so, why did you delete the asset lists and contracts?

BTW, my memory is bad, but I can read, and I have screenshots that help me remember.

You know this thread ain't gettin' closed.

PsychoticBoy, this request is badly misplaced in this thread. This is the scam accusations forum. You should have contacted me in PM about this before posting here as I clearly am still present on these forums and have said multiple times I have no intention of walking away from existing contracts.

In fact just a couple of posts above yours I specifically mention the contract with ABM and state that I intend to keep it. So your request here makes absolutely no sense. In fact i'm a little upset with you at falling in with the trolls on here and saying what you said, as if you cannot read what I wrote just three posts above your own.

Every time you asked me to pay you I paid out right away without question and I paid more than you requested. How about coming to my defense on this thread as a customer I've served very well instead of basically attacking me on the scam accusation forum and demanding repayment?

I've contacted you privately about this and explained the situation, so do me a favor and delete your posts from this thread, and try to be a bit more considerate next time.

That is not very surprising. Mod interaction or non-interaction does not constitute approval or disapproval of scammer accusations. Look at the very clear and obvious scam accusations leveled at dank for misreprenting a fraudulent product as being the one ordered. No mod showed up to ask questions, but instead the defrauded customer Rarity was banned, again without mod comment.

And you clearly have no clue who our clients or what our contracts were.

PsychoticBoy, has this been settled to your satisfaction?

Everything we had was listed on the GLBSE. As soon as I'm given claim codes (or whatever) by Nefario I will distribute them to former shareholders.

I've been in contact with some of the larger shareholders so far and they've been made aware of the situation.

I mean take BITCOINRS, NASTY and oh, say, BTC-MINING for example. As soon as they refund the money I paid for the x amount of shares we held, I'll be happy to pass it along.

I will now reiterate that Nimda's accusation in the OP is total bullshit and this thread should be closed by a moderator.

URL=http://http...

Why would they refund money if you can claim the shares ? None of those mentioned have declared a buy back. The contracts dont say "In the event of glbse closing all shareholders will get paid out". At this moment we are all waiting for Nefario to send us a list of shareholders. BITCOINRS has $5000 worth of greyhounds still racing which Nefario can't touch and which still belong to shareholders  :P   I dont intend selling them off just because glbse no longer exists. If burnside sets up a bitcoin stock exchange most likely we will go there to manage dividends and motions etc.

Second point, I *just* said that everything we had was invested on GLBSE, and I will be distributing claim codes as I get them. So what's your problem? Are you mentally retarded?

How did the mining rigs on order for your mining fund get to be invested on GLBSE?  Are you going to cancel those orders and share the BTC amonst your shareholders?  Or are you hoping they'll be forgotten and you can keep them?  You've said a few times in this thread that EVERYTHING you had was invested on GLBSE - yet that isn't actually true is it?

No, it's not. Nimda made a bullshit accusation based on a post which had been retracted. It had strikehrough (i.e. [ and s) around it. He edited it and posted it here. It was total bullshit. This is not "NOW" some other accusation. The accusation he made was crap in and of itself as well. Nimda doesn't even understand what he was quoting. Nimda's scam accusation is a classic case of trolling. Think; it's been open for quite a while and a mod hasn't even asked a question about it? Second point, GLBSE is gone and so are all my companies. So this thread is completely and utterly meaningless.


I have a better idea. Let's see if you can stfu and mind your own business.

The quotes I quoted have not been edited in any way, excepting the fact that they have been truncated and I've added some emphasis.

Any moderator with access to logs can see that usagi's addition of [s] tags happened AFTER this thread's creation date.
I will not be posting again in this thread until a moderator denies this fact or requests more information from me. I have gathered the facts pertinent to this thread to the best of my ability, and it is up to the moderators to decide what they believe is the best course of action.

Thank you all, have a nice day, and enjoy watching the Stratos freefall.

Lol just fuck off dude. You got nothing, and the best you can do is necroaccount and necrothread.

You honestly think you can just ignore legitimate issues and that the mods will just lock the thread?

GL with that lol.

https://bitcointalk.org/index.php?topic=110122.msg1246650#msg1246650

Do you have ANY idea how fucking dumb you are, deprived?

posting a link to a statement that I will be recieving hardware to counter claims by deprived I was trying to hide that fact

So you intend(ed) to pay back a CPA/personal loan with hardware paid for and owned by BMF shareholders (who already owe 500+ BTC from CPA)  and somehow that proves.. what?