I think the public record (in the original BAKEWELL thread) shows that Ian was acting according to 1. In other words Ian was given money by those who were interested in seeing a profit from BAKEWELL in the form of a dividend from the mining operations. Ian asked for funds specifically to purchase equipment for those who bought shares (portions of ownership of) in that equipment and it's produce. His offer is/was to care for the equipment and see to it that the profit would be distributed properly.

Shareholder votes and all the legalistic jargon aside, the reality is that we here have a common cause and proof to back up a claim. The reason the legal formation of companies was created was to formalize the records that constitute claims. Here, there is a record of the decisions by all involved to bring us to the point of this claim. The question now is who will support this claim?

It would be best if Ian himself supported our claim. If he will not, our next best choice is for Avalon to support our claim. After that, our choices become poorer, with less reclaimed at the end after longer periods of time.

The only thing creating a CEO does is create the person who executes the will of this body.

Anything that gets done will still need to be done IRL. Someone will almost certainly need to meet face to face with Ian in order to show the seriousness here. Before that can be done, we should fully understand the legal standing.

We all have a belief that we have been defrauded. There is always a basic choice, take action ourselves, or take action by calling upon an institution created for the purpose. Institutions have rules or laws that must be followed. Our question is now, which ones have willingness, ability and authority to help us?

I'm currently holding 300 BAKEWELL.
Ian also owes me BTC3.0 from a btcJam loan.


1) TradeFortress as CEO is a good idea.

2) However, I think we should give Ian a chance to absolve himself of at least some portion of debt here. He can do that by voluntarily turning over the ASICs and FPGA miners to this body. We can work out details of when and how on the FPGAs. The ASICs must be signed over right away.

I believe that Ian was acting in good faith initially, however his youth and inexperience in business and world markets betrayed him. So he ran. I think that given the chance to clear his name, he may.

My initial reason for investing in BAKEWELL was due to Ian's past performance and the fact of his youth. I believe he wants the best for his life ahead and will do what's needed to make it a good one. If we stomp on him here, we create a company known for that and we may destroy a life that's worth saving.

3) BAKEWELL (or whatever it becomes) will need some interim funding to work with. I recommend another small and separate preferred share be created. Those who can, and already have shares in BAKEWELL, can buy it. It will carry an early repayment clause, and a small coupon, say 1 - 5%. Target whatever small sum is needed to make things happen. A reasonable (1-3%?) portion of the shares of this should be given to the CEO as payment for his services.

4) How can I personally help? My advantages: wide ranging experience in hardware, software and business, available office space, and I live in what is one of the lowest power cost regions in the world at $0.06 - $0.08 / Kwh. My disadvantage: I don't have time. That's why I invest in other people.

You are covering the issues surrounding these investments very well.

However there is a consideration that we need to make here. In a market or economy where the majority currency is not being deterred by inflation, under a growing population, companies will become lower valued unless they are growing at a rate larger than the overall economic growth.

Almost nothing affected by nature or humanity grows or declines at a predictable rate, however it may be somewhat bounded. What this really means is that there will be growth spurts and declines possibly around another, more predictable rate.

So right now, while BTCitcoin is screaming ahead, it seems like holding USD cash can be a problem for btcQuick. However, the other direction will happen. At that time, everyone will want to sell BTCitcoin and there won't be enough USD unless you are ready. The trick is to manage the company in such a way as to mitigate the risks involved, and make a profit from predictability. If you can predict the peaks and valleys, you stand to make substantial profit. If not, well...

So what is btcQuick doing to predict the needs and the market?

There is a way to double check to see if you have the private key.

Be sure you are using a trusted computer, no viruses, no trojans. (You should have this anyway, if you are transacting BTCitcoin in a secure fashion.)

In blockchain.info wallet you can:

Login,
Click "Import/Export"
(You can disconnect from the internet here for an added potential safety factor.)
Click "Export Unencrypted"

In the panel that appears, you will see address and private key pairs. If you have a private key to go along with the address, you have control to spend from that address (unless the key is somehow wrong).

If not, maybe you have a wallet backup somewhere that does.
Treat that private key as if it is worth over BTC3.29. Anyone with it can spend it.
Again, good luck.

Nice dividend, Thank you!

After I saw how you were handling what happened with Bakewell, I decided you must be my kinda guy: one who takes the knocks and stands behind what he does anyway. I'm glad to see my trust rewarded.

Just a question:

Bitfunder shows 4831 shares issued, but you claim 3750 outstanding in your latest report. Is the difference a set of shares that you use to defend your 0.095 - 0.10 share price range?

https://blockchain.info/address/16D42hYqHQMCf3SnhwiNa8vTJutUDVQ8S4

Shows:
Final Balance   3.29109758 BTC

It should be spendable as long as you are the owner of the private key. Good luck.

Yes, try sending a smaller amount. There is usually a transaction fee of about 0.0005 as a standard for transferring BTCitcoin. Reduce your amount by that much or a little more (0.00050001). You will probably have better luck. If you are using block chain.info "My Wallet" you can try to send the full amount using the custom send with a 0.0 miner's fee. If your transaction is less than 1kb in size, it will work, but it may take longer to confirm.

I think it's being used quite alot already... 

Trust is an interesting thing. You must trust people to some extent. It's a learned experience. You extend a little trust, which begets trust.

Extending small trust to learn is how we grow a strong society. But as has been said, in this "new jungle" be cautious.

The blockchain.info wallet is great for everyday use, and for keeping track of BTCitcoins in your safe offline savings, but don't use it as safe savings store.

Well, How much are you asking?

I'd like to find out what the going rate is for souls these days myself...

I'd happily trade a beautiful home-made pizza for just BTC100.

Anyone?

Just out of curiosity, what do you think your soul is worth?

Why?


Just thinking out loud here, but if you want to sell it, you must not consider it to be valuable enough anymore... 

Agreed. If it is simply for spending, then there is no need for it to retain value. You buy it, spend it and move on. That's a currency that has no lasting value. But it's no different from fiat.

BTCitcoin itself and what is happening right now in its marketplaces shows that people want more than that. They want a deflationary money for a change. They want to work less as they get older, having saved in their productive years. They want control over their resources. They want to retain the value rather than have it sneaked out from under them through the inflation tax.

I really think BTCitcoin finally hit the mainstream news between September '12 and January '13. It's amazing what its price has done since. In addition to that, the market price seems to be from an expanding market, rather than speculation.

That's an interesting thought.

I think you are wrong there. It's the process of mining that makes bitcoin so great. In what way would you have new money be brought into the marketplace?

As it currently stands, there is work or effort involved in getting new money. That has always been the case for natural money. Only fiat money has no essential cost of creation. And many people are obviously wanting out of that.

Where/how does blockchain wallet allow that? I've been using it for a while and haven't seen that...

The restrictions seem reasonable for troll prevention.

Thank you.

Hi I'm MikeMark. I'm a BTCitcoin user. This is the 105th day since I bought my first BTCitcoin. I'm not trying to quit.

It's been an amazing ride since then.

How about you?