Exactly. You just proved my point. You're telling us you're a retard who didn't know bitcoin price can go up like crazy in two days. You're telling you're a retard who didn't know that the only way that business could ever work is to buy bitcoins right away after they're sold.

I don't propose anything. I'm just saying what is the only way the business can work. You don't need 3-5 times more capital. You can have very little capital to make it work. The only difference will be volume and profit.

I know people who do the same business for over a year on localbitcoins. They always buy same amount of bitcoins they sell right after selling. It's the only way this business can be profitable. It's only way to do business without risk of huge losses long term. Long term is longer that few months. Their profit is not that much, but they never risk their capital.

You say that I propose it like it's something new idea. You act surprized about this "proposal". It's not proposal, it's a simple fact that everyone knows. BITCOINS GET MORE EXPENSIVE VERY QUICKLY. Everyone who would be running business like yours knows that. It's common sense. Your intention was never to run this business more that a few month. It's impossible to run business other way longer than a few month.

It was all designed to scam us from the beginning. You knew very well it's impossible to run the business LONG TERM without always keeping same amount of bitcoins.

The plan was to wait for the next peak, stop business during the peak, and blame it on slow banking and surprising price increase. Then act like you didn't know that would happen.

It all worked quite well, didn't it? Just like you planned from the beginning. Take it all when the next peak is coming. You did it well. Some might even buy your I-AM-A-RETARD-SORRY-I-LOST-ALL-YOUR-BITCOINS bullshit. I'm not buying it.

Just give all your bitcoins back, it's the only way you can save your face.

I already know what this scammer will be saying. He'll say he had no idea that bitcoin price takes huge increases all the time. He'll say he thought bitcoin price is more stable than dollar. He'll say it's all because of slow banking.

He'll say that unfortunately the loss happened during the november peak. Just a bad coincidence. He'll say he thought that selling all IPO bitcoins without buying the same amount the moment they're sold seemed like an excellent business idea.

Can you really believe this guy he is that retarded? He's a scammer.

I recommend Jerrod that you give all your bitcoins back. I don't care if you think you're entitled to bitcoins you stole, and took for your "work". You're not entitled to anything. Give what you took back.

I'm not buying your bullshit. Even a 12 year old knows the price may jump 5 times in a matter of few days. Then your losses are huge. The only way this business could ever work, that you keep FIAT at exchange to buy the bitcoins right away cheaper than sold. It's the only way it can work.

Now you're telling me you're a retard who didn't know bitcoin exchange rate might jump up like crazy in a matter of few hours.

I'm not buying your I-AM-RETARD-SORRY bullshit. I know you're not that retarded. You stole everything. Probably with some sophisticated scheme during price peaks. Just admit it.

Don't act as a retard Jerrod. Every second scammer pretends to be a retard so people think the loss is due to incompetence. They think he's a retard, he lost it, he didn't steal it.

I know you're not a retard, taking your original post, you said it was rotating. It is the only way a service like yours can work. You always keep the same amount of bitcoins. The moment someone buys bitcoins from you at a rate higher than at an exchange, you buy the same amount. That's where the profit comes from.

And now you're saying your business was to take all the bitcoins from IPO and sell them all. Not rotate them, but sell them all.

You're not a retard, your business was rotating bitcoins, just like you said originally. I'm not buying your incompetence bullshit. Your strategy now is I-AM-A-RETARD-SORRY-FORGIVE-ME-I-LOST-EVERYTHING.

It was a theft, not incompetence. You're a criminal Jerrod. We need to sue this scammer and investigate it.

Exactly. Rotating. You sell bitcoins, and you buy exactly same amount from an exchange. So all bitcoins must be still there.

Hey scammer, why can't you answer a simple question? Where are the bitcoins?!

The remaining USD is less than a cent per share. Once again you say nothing about bitcoins. It only means you stole them. You're a thief. Everyone should put negative trust. And those who can should sue him.

There will be no update. Ascension already told he will return USD assets sometimes. Accordinding to the statement in the link below there are $59010.34 on his account.

59k divided by 50 million shares is $0.001 per share, or 0.000001BTC per share.


So here was the last message by Ascension. He only says about USD, not a single word about bitcoins.


And here Ascension says they have accounts on some exchange. So they were selling bitcoins and buying the same amount on some exchange. About 1700 BTC he took from investors were circulated. So he says in September that they had bitcoin at some exchange.

BTCQuick stopped their business in November. They must have used some other exchange than MtGox, because MtGox was more expensive, and they must have used a cheaper place to buy bitcoins. So I don't believe Ascension lost all bitcoin in MtGox.

Now Ascension is gone, he didn't say a word about where bitcoins are. He only says about USD. I think he stole all 1700 bitcoins. He is a thug and should go to jail.

If you can sue him, then do it. If not, he will only return $0.001 per share. That is nothing.

Yeah, I know it was good luck, but they mined on ozcoin like crazy. From super lucky on ozcoin to bad luck the moment they left. Should have stayed at ozcoin.

Let's put negative feedback to Ascension. I already did. Let people know so he can't scam more people in the future.

DeadTerra collected about 24,000BTC that people trusted him with. It wasn't a group buy, it was an investment managed by DeadTerra. He failed miserably by giving all the money to very untrustworthy people whom he barely knew.

It will be about 10% if they pay out all the bitcoins they made and will make with mining.

This is such a failure. Total of about 24,000BTC was raised in IPO. According to my calculations investors will get at most 10% of initial investment.

I thought DeadTerra learnt his lesson with his Gamma fund that you can't trust other people's money to people you don't know or trust. Last time he got very lucky with AsicMiner shares and was able to recoup losses.

This time he took and lost much more of other people's money. Its's over 13 million dollars that he lost at today's exchange rate.

TradeFortress is back. He is posting a lot of messages lately. What's the status on this? How much did he return and how much he kept for himself?

Yes, there should be. But all bitcoins were stolen by Ascension through criminal actions. He implies there is a little amount of dollars is left, and all bitcoins are gone.

He said bulk of the loan, not the whole loan. I don't know what he really means by the bulk, it's probably more than half.

Another thing he said is that litigation will force him into bankruptcy. By saying that he admits he can't repay much. His promises could be just wishful thinking and hopes he can somehow rebuild his ozcoin pool. That is not happening.

He might have some other secret investments that he's not mentioning, but I don't think it's enough to repay all the debt even if he has something. Let's hope I'm wrong.

Did you read my messages? When I say the only way for him to pay back anything is to sell all of his assets and buy bitcoins, I mean he doesn't have much bitcoins. If you prefer him not selling his assets, you don't want to be paid.

The longer he takes to convert his assets, that are not bitcoin if you still don't get it, to bitcoins, the less creditors get back DUE TO INCREASING BITCOIN EXCHANGE RATE.

He doesn't have bitcoins, but he has some assets. If he wants to pay, he must sell assets and buy bitcoins, so that he can pay back a part of his debt. My estimate is if he sells everything, he might repay at most 50%.

So he's chatting away with people while he should be working to get funds to repay the loan. I'm not surprized. The only way to repay anything would be selling everything and buying bitcoins before the exchange rate goes up again. But no matter what, he still thinks his FIAT business will repay the debt.

The only BTC business he has is ozcoin, but it is dying as we speak. It has 0.05% of network again and users are leaving the pool. Only 145 users are left now.

Graet says in his post he needs to rebuilt the pool to 5%, but I have no idea how he's going to do that. It's quite impossible at this point. And I'm not seeing anything being done to the pool to attract new miners.

I just hope he understands that no FIAT business can outperform BTC. It's probably too late to expect full redeems at this point because his all assets are simply not enough to buy enough bitcoins. It was already to late when the exchange rate jumped up last autumn.

According to my estimates he could repay at most 40-50% at this time if he sells everything and manages to buy at $450. Probably not going to happen, as he refuses to accept the reality.

Did you even read his posts?

He must divide all funds to 32.5 million shares, because he sold 32.5 million. Why should he return anything back to himself when he already took 300BTC for personal loan, 375BTC for his work and 1700BTC of inventory.

Jerrod implies there are no bitcoins left at all, which means he stole all 1700BTC. So it will be few satoshis per share.