Bitcoin Forum

https://i.imgur.com/r9kL2.png

SILVER Assets Issued/Outstanding: None

SILVER was a 100% physical bullion backed BTC loan instrument I was running on GLBSE - (which abruptly shut down!). All SILVER asset holders whom I am aware of have been paid out their interest and principal in full.

At some point in the future I hope to be able to relaunch this asset. If and when I do, I will make an announcement here.
Thanks to those who invested in SILVER.

First SILVER interest payment has just gone out.

The weekly interest rate for SILVER holders has been increased to 0.9%, up from 0.75%. The new rate will start with this coming Thursday payment. Buy back details for anyone in need of selling their SILVER have been updated in the first post. Someone or some people have sold SILVER recently at very low prices, I have loaded Buy orders at 0.009 and above for small investors who for whatever reason need to sell. I will try and maintain these orders and add to them when necessary, anyone in need of selling 10.00 BTC worth or more see the first post for Buy back details. Thank you to all those holding SILVER, thank you.

are you holding the assets (gold/silver) with a service such as bullionvault? could you provide a current screenshot?
thank you very much in advance

Metals (Gold, Silver, Platinum & Palladium) are held in a secure allocated storage account at ABC Bullion Sydney, Australia. If you would like to PM me with your email I can send you the latest Metal Account Statement. The most recent statement is from the 20th of July 2012.

Since in Beijing Friday already starts and you are usually on time with your payments - I ask myself what's the reason for the delay?

Iḿ in Australia atm, similar timezone. My connection was terrible last Thursday  :'(

I am a bit confused here, how does just holding the silver generate income to pay the dividend? And should the price vary according to the XAG/BTC price ratio?

Or is this just money you invest elsewhere and you have the silver on hand as collateral for the bond?

The silver is held as collateral and bitcoin raised invested in bitcoin denominated investments (a portion of my profits go to buying more physical silver for the security). The face value of each asset remains 0.01 BTC regardless of the price of Silver or Bitcoin. What changes is the ratio between USD value of Silver held as collateral, and the USD value of bitcoin issued in SILVER assets. If the USD value of the SILVER assets issued raises close to the USD value of silver bullion held as security - then either I buy more silver, or buy back a portion of SILVER assets. USD value of the SILVER assets raised should not exceed the USD value of the physical silver collateral.

So where is the pictures of the silver?

Location information?

No pictures. However if you would like a copy of the latest metal account statement, send me a PM with your email.

Location: ABC Bullion, Sydney, Australia

No pictures = BS. Not difficult to take picture(s) and upload them.

Good luck getting suckers to invest with you.

I vouch for Btc4Domains.  He's conducted >10k BTC of deals with me and has always come through.

You vouched for pirate and look how that turned out.

smoothie is right.

This smells like a scam to me if you cant provide pictures of the silver. Along with the fact you are completely unverified.

All I can say is buyer beware and I hope you like sitting in the bottom of the glbse pink sheets market   :)

ZING!!!

+1 Vouching for someone when you clearly vouched for pirate says we should all put you on ignore or dont take anything you say seriously anymore. "Dumbass" tag perhaps?

He sent me a copy of his deposit statement, and ABC Bullion confirmed it's authentic. I wouldn't swear he is not a scammer, but I personally don't think he is. Of course it would be better if he verified and provided photos of the silver, but I understand he may not be physically near Sydney and so reassuring you might just not be worth the effort if he has enough other investors.

Pictures or it isn't real.

Bullshit is bullshit....too many scams around here. Trust is earned not given so easily.

@smoothie Even with pictures you could get scammed... No need to scream so loud and repeatedly. For my taste you produce too much noise on the board. Please provide quality content or I have to add you to my list of troll-bots.

I also did see the statement. ABC Buillion is a trustworthy service. Looks OK but sure there is a chance of it being faked. And indeed, if you use a remote vault service, you might never see your assets physically. You also buy and sell remotely. .

Also known is that he lent quite some money from Brendio for a property deal - I guess Brendio verified him before risking so much.
About his lending business (btc4domains) I know nothing - is it plausible he earns enough to cover dividends with that?

I can't understand why he didn't verify so far. Also he promised to transfer the assets into his holding firm already quite some time ago (so far the ABC Buillion Account is still registered under his name).

@btc4domains:
Until when will the assets be transfered into your company?
Why didn't you verify? Can this be done?
I expect you to comply with your agreement to put up bidding walls as promised in the OP from now on (not met i.e. for GOLD atm).

@all:
what is known about the btc4domains business?

What happens to our shares now that GLBSE has been shut down?

UPDATE: For those holding SILVER Assets - your coin is with me. Once I have accounts details from Nefario I will pay out the face value of all SILVER assets plus interest payments owing for the dates of the 4th and 11th of October 2012. At the time of writing this I have not heard from Nefario ~hopefully it wont be too long.

Regarding verification: I submitted ALL my verification documents to Nefario a very long time ago.

Anything happening with this?

UPDATE: Hi all and sorry this has taken so long.

I received a list of SILVER Asset holders / number of assets held and respective btc payment addresses from glbse a few days ago. As of tomorrow (13 Dec 2012) it will have been 11 weeks since GLBSE shut down without notice. I have just paid out interest for that period and principal to all SILVER Asset holders I know of. The interest was calculated at 0.9% per week x 11. The principal calculated as 0.01 x Number of SILVER Assets (face/issue value x number of assets held). It was sent as one payment. The email from glbse indicated there may be others - any others I do receive will be paid out accordingly. NO interest will be payable beyond the current week. If I get time I will send a closing statement via email to each former SILVER Asset holder.

Thanks again to those who held SILVER Assets.

I received some SILVER accounts/asset holder details recently from Nefario which were new and have now been paid out - there are a small number without payment addresses which have been emailed. I have been informed there are no more accounts and the list I have is final.