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Why has the return rate dropped so drastically in the last weeks?
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So how much has been finally raised?
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A very good initiative! I hope more people contribute and publish the personal info of these a**holes
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So when exactly does the crowdsale end? Tomorrow or tonight? At what time?
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What country is he in ?
Why can't you get someone to visit him ?
$~6k is worth spending abit of money to have someone visit...
US I guess (at least that's where he's shipping his stuff from) I don't have much at stake (nor do I live in the US) but it would be nice if someone knocked on his door |
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Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.
Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.
Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs? Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000 It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC. Hmm what about other sources such as BTCjam? Borrowers like MAC on there regularly pull in 300+ BTC loans at floor-level interest rates. The group that runs the site is a relatively friendly bunch too, and after a year and a half using the site, I know the community is always eager for trustworthy borrowers. Edit: Plus if you pegged it to the BitstampUSD price, you could hedge against price fluctuation in the bitcoin price, parrying the loan against dividends to provide a two-way cash flow. And as always, just throwing out thoughts, Capt'n. I need someone to help me walk through it, if it's possible to tie to USD prices I'd loooove to do it as long as rates are semi-reasonable. It's quite easy once you go through the whole verification process of BTCJam. They will want to see your Facebook, LinkedIn, ebay, etc accounts to verify your identity and some proof of income, and after all that is done (it will take about a week) I (and probably many other investors) will be glad to throw in a positive reference on the site to further increase your credit rating. One you have an A/A+ rating, it will be relatively easy to access a good loan. What's going to be the best way to get connected to investors who are on btcjam? It only allows for facebook references, I can't do a email dump or linkedin dump for that matter. To kick it off, you could send out an announcement to shareholders via Havelock with a request for references/Facebook profiles. Any who are on BTCjam will probably already have their profiles linked. Yes that's probably the best way to get started. I didn't realize we needed to be connected on Facebook to leave a reference (directly through BTCJam it's only possible to leave ratings to people with whom you made a transaction); but I guess it's no big deal to get befriended and then request a reference. |
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Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.
Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.
Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs? Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000 It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC. Hmm what about other sources such as BTCjam? Borrowers like MAC on there regularly pull in 300+ BTC loans at floor-level interest rates. The group that runs the site is a relatively friendly bunch too, and after a year and a half using the site, I know the community is always eager for trustworthy borrowers. Edit: Plus if you pegged it to the BitstampUSD price, you could hedge against price fluctuation in the bitcoin price, parrying the loan against dividends to provide a two-way cash flow. And as always, just throwing out thoughts, Capt'n. I need someone to help me walk through it, if it's possible to tie to USD prices I'd loooove to do it as long as rates are semi-reasonable. It's quite easy once you go through the whole verification process of BTCJam. They will want to see your Facebook, LinkedIn, ebay, etc accounts to verify your identity and some proof of income, and after all that is done (it will take about a week) I (and probably many other investors) will be glad to throw in a positive reference on the site to further increase your credit rating. One you have an A/A+ rating, it will be relatively easy to access a good loan. |
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Very interesting thread. I really do hope someone pays him a friendly visit.
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Seems like the manipulation that was busted by the guy who made the reddit thread has revealed how much swap money there actually is on BFX and how it is pushing the Swap Rate to pathetic levels again.
The market is so bullish at the moment, we have a lot of volatility and the total sum of active swaps is basically at a massive all time high of over 28 mio yet the rate is well below 0.2 % and actually slowly decreasing. Seems like BFX finally has the publicity that the average joe puts his money there to gain some interest. I truly fear for more bearish times. The swap rate will probably ( a bit exaggerated) drop to prime rate levels.
..I think we were a bit spoiled, earlier, with those unbelievable rates. Even now, with declining rates, this is an amazing rate compared to any other investment. Minus the risk and volatility of investing directly in Bitcoin. I like, both from a lenders and borrowers view. Ente What do you mean with "spoiled with unbelievable rates"? Yes, there have been days or more like hours in the (0.5-1 %) bracket which are retrospectively a pure result of manipulation ( I had mentioned these ridiculous spikes from 0.1 to 1 % for exactly one hour several times in this thread) but most of the time the rates are not that great. If you check the period of whole 2014 we can see that this has not been a strong time for lending. Aside from this spike at the end of June interest rate has been constantly declining while the total some of active swaps grows and grows. I'm sure you are well aware of this site but still http://bfxdata.com/ take a look at the development from 14th June onwards. It's almost comical. I'm just asking for opinions here. I've stated something simliar a few months ago and disregarding the manipulation my take is that with BFX's popularity increasing and their "insurance" on swaps the platform is bound to be flooded wtih capital seeking interest rates higher than any bank (can or is willing) to offer. This will ultimately result in the interest rate reaching lower and lower levels. In the past few weeks I've seen numerous threads on reddit of people asking for advice on how to put their money on BFX for swaps and whether it's worth it. It surely is but it might not be for a long time anymore. With the Chinese exchanges brazenly copying the BFX model I'm wondering whether this could (on a perspective on the whole market) lead to more demand and an increase in swap rates again. The other event that has the potential to massively increase the swap rates is another full fledged bubble of course. Any opinions here? If there are more exchanges that allow swaps, it will increase the OFFER rather than the DEMAND, and even lower rates are to be expected. Truth is I (like many others I presume) didn't know about this in 2013 so I lost my chance of making some big bucks (once again). Oh well... |
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As far as being found guilty?
Jon has run an unlicensed securities exchange selling unregistered securities to American persons. From American soil.
He ran an unlicensed and unregistered money services operation. From American soil.
He circumvented every KYC/money laundering regulation on the books while running both.
I'm pretty sure his taxes are a mess.
This is just off the top of my head, you want more?
Yes, he could and should be processed for all that and more. But IMHO he can't be processed for the actual STEALING of people's coins as there is no way to prove that. |
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Well, in strictly legal terms SebastianJu is right. It might have a tail, whiskers and purr but if you can't prove with 100% certainty that it's a cat you can't pursue a legal case. I bet any lawyer will tell you that and it's probably the reason why nobody has taken him (or for that case almost any other BTC scammer) to court.
I, as most of you, am sure it was a scam. But no, I have no way of proving it to a judge.
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Someone took a big dump... pity I wasn't paying attention to grab some cheap shares.
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If you look at the volume of the trades on Havelock, there isn't much. Most of the trades are 1-10 shares with an occasional 30 share trade.
Yep. If i wanted to dump my ~1500 shares I would make the price plummet, and if instead I purchase an extra 1500 the price would double Dump the shares, could use more cheap shares  Nope, I'm actually in for the long term and definitely not selling at this low price  |
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So... what's the process now to request refunds for our shares? Is it necessary to contact the lawyer the US?
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If you look at the volume of the trades on Havelock, there isn't much. Most of the trades are 1-10 shares with an occasional 30 share trade.
Yep. If i wanted to dump my ~1500 shares I would make the price plummet, and if instead I purchase an extra 1500 the price would double |
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Everything more or less ok until now but I don't like that the maximum bet which will count towards the wagering requirements is quite low and this is not clearly indicated in the bonus T&Cs (you have to go into a different page to read this). I only realized this after completing the rollover with higher bets :-(
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My BTC deposit at Bitfinex is not showing up after 10 confirmations  Has anyone had a similar issue? 23 confirmations and still nowhere... this is completely ridiculous. Lets hope the support team replies to my email ASAP Bitfinex, WTF? Are you going to reply to my support ticket soon? More than half a day later my BTC are still in limbo and nobody seems to give a sh*t!!! This is making me lose money so I also hope I will receive some compensation Issue solved. Raphael (admin) contacted me and I got compensated for the delay. Happy ending |
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My BTC deposit at Bitfinex is not showing up after 10 confirmations Has anyone had a similar issue? 23 confirmations and still nowhere... this is completely ridiculous. Lets hope the support team replies to my email ASAP Bitfinex, WTF? Are you going to reply to my support ticket soon? More than half a day later my BTC are still in limbo and nobody seems to give a sh*t!!! This is making me lose money so I also hope I will receive some compensation |
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My BTC deposit at Bitfinex is not showing up after 10 confirmations Has anyone had a similar issue? 23 confirmations and still nowhere... this is completely ridiculous. Lets hope the support team replies to my email ASAP |
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