Anyone that feels like I have misbehaved or just want to talk to me, call me on skype. My Skype alias is Terragubben  Lets have a chat. //DeaDTerra |
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DeadTerra
I agree with all of Icebreaker's points above.
I think you owe it to us, your trusting investors, who have stuck with you through the past weeks of continuous losses, to be more clear about what the actual situation is.
You should update and clean up the Fund assets and holdings spreadsheet so it accurately and clearly shows the position of the fund right now. And make a clear announcement that this is done and is the honest value of the fund right now.
I no longer trust you not to use, or lose, our GBF investments in your many other projects.
And I think you owe us a much clearer repayment plan. I think our patience and trust in you deserves much a better response than "I'm very sorry, I might pay you back something at some vague time in the future".
Hello Okay sure, not much has changed and I can do more regular updates then weekly fine. I will update the spreadsheet once I get home later on tonight. I don't have any other Bitcoin project at the moment other then the shut down of GBF, I am not sure where you got that from. I have plans and future projects but non right now. That is not what I have said, I have said I will start liquidation and the payouts will be proportionate, a weekly updated will be posted with the progress of the liquidation and each 5-10% a payout will go out. I think that's pretty specific what other details do oyu want? //DeaDTerra |
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DeadTerra, I have not put in a request for withdrawal, but it is not fair to those who have to strip them of their higher priority. Months ago, I asked you to focus on the GBF instead of getting distracted by various IPOs. You agreed (and thus I invested) back then, yet you then proceeded to waste your time and our bitcoins on various unrelated scammy/gimmicky nonsense projects. You never updated the OP to reflect the recent negative returns. You don't even update the google docs weekly. We now have no idea how many of our bitcoins you've lost! Your constant excuses of "I'm too tired, I'm too busy, I'm too sick" are childish and unacceptable. You have plenty of time for the latest shiny things that catch your attention, but not for your investment fund? Again, not acceptable. And now, despite owing your long-suffering investors 1000s of bitcoins, you are buying overpriced silver bullion from a Jr Member in another thread! Am I the only one that finds such behavior galling? I don't want to be payed back in drips and dribbles. And I don't want to hear about how wonderful your intentions were. Your actions are those of a con artist, especially the latest excuse of "circumstances have changed, so withdrawal requests are retroactively being dishonored." The GBF should have been your highest, if not only, priority. Instead you have been treating it (and us investors) as an afterthought, not worthy of FIDUCIARY RESPONSIBILITY. You seem to be completely unfamiliar with the concept, so here is an excellent, concise definition: http://www.efmoody.com/arbitration/fiduciary.htmlIn the handling of money and when one acts as a corporate or individual trustee, there is a fiduciary responsibility owed to the principal party. It is defined as a relationship imposed by law where someone has voluntarily agreed to act in the capacity of a "caretaker" of another's rights, assets and/or well being. The fiduciary owes an obligation to carry out the responsibilities with the utmost degree of "good faith, honesty, integrity, loyalty and undivided service of the beneficiaries interest." The good faith has been interpreted to impose an obligation to act reasonably in order to avoid negligent handling of the beneficiary's interests as well the duty not to favor ANYONE ELSE'S INTEREST (INCLUDING THE TRUSTEES OWN INTEREST) over that of the beneficiary. Further, if the agent should find him/herself in a position of conflicting interests, the agent must disclose the dual agency (acting for two parties at the same time) or risk being accused of constructive fraud in regards to both or either principals. Good day, sir! I don't get mad often but reading this get's me mad. Do you know how much work it is to run a fund? I can tell you it's over 20 hours a week, and guess what I have been paid nothing. Nothing for three months, in fact I have lost 150 BTC from the start of the opening up the investment fund to the public. I have kept the log book up to date, yes I have missed a couple of days but I am human give me a break. The log book has always been up to date with at least a couple of days delay here and there. I have updated it as you can see it's already in the OP and I did that weeks ago what? Take a look back at the last couple of weeks and you will surely see that I have updated the log book more then weekly, I can assure you. I am sorry but no where in the deal I made with the investors did it say abandon your life because if it did then I would not have made that deal. I have done by best considering the circumstances, I have a part time job,I study on full time and I want to have some sort of social life, that means that sometimes things gets delayed and the log book is not updated. So now I can't even make private purchases because that will effect the profit of the fund? Stop with these silly arguments listen to yourself, the reason why I was buying silver was because I wanted silver. I am entitled to my own purchases am I not? I am just trying to make this as smooth as possible and make it fair for as many as possible, I said it's not written in stone and that it can be discussed, thank you for your opinion. I have stated from the start this is not my profession, this is a hobby project that I do in my free time. That has been the deal from the start if you want something more then that then I am sorry because I am never going to be able to do that. All these things you are complaining about, has been stated from the start, it was involved in the deal I made with the investors. This is not my full time job and I thought that was clear. I am just trying to do what's best but thank you for your opinion. //DeaDTerra |
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Is this website basically dead? Kind of a shame, what a fantastic idea.  The website is not dead but both developers (Erik and Ira) have to much on their plate right now so things are falling behind. They are looking to higher someone to take care of the site. //DeaDTerra |
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volume and price updated //DeaDTerra |
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Köper nu BTC för spot price //DeaDTerra |
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Gamma said he would process withdraws in the order they were received. He should commit to this since I withdrew well before the closing of the fund.
Yes, I agree. I am sorry but I can not honor that as the circumstances has changed. It would simply not be fair to the rest of I let a couple of individuals withdraw and let the rest of the investors sit stuck in the boat while we liquidate, you must see why that would not be fair? Hence I would argue for that liquidation and proportionate payouts is the best and fairest way to solve this. I would argue that how reasonable this is depends on the volume of withdrawals requested compared to the size of the fund. Are you able to provide these figures? Clearly if everyone withdrew, then proportional is the only way to go, whereas if withdrawals were a single bitcoin, that seems very unreasonable from the perspective of the withdrawer. Full disclosure: I requested a withdrawal on the 24th of September. Of course right now the withdraw queue is a bit more then 1000 BTC which represent more then 1/7 of the fund. Considering the size of these withdraws, it would be unfair to pay them out while denning the same right to the rest of the investors. In my mind proportional payouts is what's most fair at this moment. //DeaDTerra |
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I had a passport and I had private information, as well as some details of the operation. At that time (before all these defaults) it seemed like a reasonable investment, not low risk but reasonable. Though now I realize that it was naive to think like that and it was my mistake.
Part of why I have a transparent and open fund is for the investors to chip in and give me their opinions, it's easy to see scams in hindsight but not always so easy to identify them early on.
//DeaDTerra
Mybitcointrade was one of the most obvious scams on the forums, and reading any intelligent poster's comments on it could have told you that. You are lucky you got 600 of your coins out when you did. Look at the assets DeadTerra has issued/run: REBATE - Scam ZIP.A - Scam GIPPT - Insurers invested money to insure a scam in the same scam they were insuring, and are having trouble paying back the insurance Gamma Bitcoin Fund - Invested in obvious scams GSDPT is probably your first decent issue as it is backed by a reputable business. Hopefully it will break the trend of scam pass throughs you have run. Please note that Rebate nor ZIP.A was issued or run by me. I was simply a link between the investors and the development crew/JRO, I stood for the PR and I was not responsible for the fuck ups behind the scene. Nor was I responsible for the bad decisions and the hacking that lead to the closing of ZIP.A or Rebate. I think it's unreasonable to put the blame of these projects on me. As for GIPPT, I offered a service where I connected a insurer and investors that wanted that insurance. I never said pirate was legit nor did I say he was a scam. The deposits are being paid back but due to lies and cover ups from HK and a massive liquidation squeeze, the payouts are slow. Yet again this has nothing to do with me or me breaking a contract. I have never broken a contract which I have agreed to, I paid my part of GIPPT and the insurance was transparent and clear from the start. I have seen you post and complain on every single asset on this forum, You seem to think you know so much yet you have not done anything to improve the situation. Please fuck off or do something constructive instead //DeaDTerra |
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All private messages and emails will be answered properly tonight.
//DeaDTerra
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hundreds of bitcoins "lost" later.....
I hope you all know that basically DeadTerra used you guys to fund his gambles with you guys taking all the risk and paying for it during the down weeks while he skimmed off the positive weeks. Cheers DeadTerra, congratulations.
That's the down side of investing Bitcoins, it's hard to evaluate risks as you don't actually know the person behind the project or his/her intentions. Which makes it hard to do a profit/risk analysis and sometimes, things go wrong. I am sorry for this but to blame the massive default and security market crash on me seems a bit steep don't you think? Gamma said he would process withdraws in the order they were received. He should commit to this since I withdrew well before the closing of the fund.
Yes, I agree. I am sorry but I can not honor that as the circumstances has changed. It would simply not be fair to the rest of I let a couple of individuals withdraw and let the rest of the investors sit stuck in the boat while we liquidate, you must see why that would not be fair? Hence I would argue for that liquidation and proportionate payouts is the best and fairest way to solve this. hundreds of bitcoins "lost" later.....
I hope you all know that basically DeadTerra used you guys to fund his gambles with you guys taking all the risk and paying for it during the down weeks while he skimmed off the positive weeks. Cheers DeadTerra, congratulations.
This way of fund management, regarding to transparency and communication, is way ahead of recent events. I loved to invest in GBF until some greedy, so called individuals teared a deep black hole into btc. Thanks for that, bitches. DeadTerra went and invested in mybitcointrade even after I warned him that it was a complete scam. Even a small amount of due diligence would lead you to the assumption that it was either a ponzi or a stock generation type scam. This isnt fund management it is gambling with OPM. I had a passport and I had private information, as well as some details of the operation. At that time (before all these defaults) it seemed like a reasonable investment, not low risk but reasonable. Though now I realize that it was naive to think like that and it was my mistake. Part of why I have a transparent and open fund is for the investors to chip in and give me their opinions, it's easy to see scams in hindsight but not always so easy to identify them early on. //DeaDTerra |
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Hi DeadTerra
I'm really sorry and disappointed that you have decided to close down your Gamma Bitcoin Fund.
Do I understand that it's your intention to repay our current balance fully over the next couple of months?
Hello, I understand that fully and there's not much else I can do then say I am sorry! I intend to liquidate all the asset and pay out the amount liquidated proportionally. //DeaDTerra |
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I write this with sadness in my heart as it has not been an easy decision to make. I have decided to close Gamma Bitcoin Fund. This decision is something I have thought of over a long time now and is a decision I have been avoiding. I have decided to close the fund now for several reasons, I don't have the time anymore to run the fund at a standard which I would like to have, I don't have time to actively look for deals and investment anymore which has started to show in the profits. This is partly due to the increase of pressure from both my school and my part time job. I love working with Bitcoins and I have absolutely loved working with and for Gamma Bitcoin Fund, I have learnt a lot and gained tons of experience and knowledge, as well as met tons of great people and made some good friends. One year has now gone since I first started the fund in small scale, it has turned from a small hobby project into a massive investment fund. I regret nothing and I hope that you as investor have been happy with having me as the manager of your funds. It's sad that it had to end at such a sad note. As said time is scarce and I feel that I can no longer provide a service that anyone would be interested in hence it has lost it's value and I should stop offering it. It is not only a matter of time and my private life but also about how the market and the community has changed. Almost all the lenders has closed shop or defaulted, there has been a great sense of recklessness and disrespect towards the Bitcoins the lenders were managing, taking huge risks without considering the consequences. This has led to a lending/security negative community with very aggressive members, which I dislike. I understand this reaction, but it should never be aggressive, the best is to be critical and discuss/debate with the issuer/manager not attack that person. I don't feel like I am ready for the potential consequences of masses of angry investors invading my private sphere, so I am going to be moving into more private investments with people I feel that I know and trust. Though I must say most of you have been very nice to me and I have gotten a great amount of trust and respect, for this I am forever grateful and I hope you don't feel let down. I must say though that with all of this lending and security chaos I think we can learn something, the idea of critically analysis and transparency. I think it's a lesson we all must learn, we must strive towards openness and transparency, open books and open investments. It's the only way to regulate and maintain a manageable risk level. I feel after the recent events I can't trust any other lender to do my job or to take care of parts of my investment and with the development of SEC and GLBSE, I am not sure if I can even trust GLBSE anymore. The risks are just too high, as I can't know the risks and I can't control them, I feel that it's better to close down shop now before something happens. I knew that running a Bitcoin fund might be a gray zone are but as that gray zone seem to get darker and darker, I feel like it might be time to get out before someone decides to close down on all the issuers and lenders, for now I will be a bystander until the situation has cleared up regarding the legal aspect of running a fund. I will not run nor hide, if anyone is angry,sad etc then I will be here to answer your questions and discuss this with you all, I care about you all and I thank you for the trust you have given me. The least I can do is to listen and talk to you all Sorry about this whole thing, and the way it had to end. It was not planned but I believe that as the circumstances are as they are, it's best for us all to wrap it up. Don't fear though, I will still be around and I will be working on my different projects. The Arbitrage will keep running and will keep being developed, so will the venture fund (which is really starting to take shape) and GSDPT. Whenever I can I will try to open up my projects to share my profit and my work with the community and of course you guys, for whoever wants to join, but this will probably be further into the future when things are clearer and I have more time on my hands. So how to close things down? This is just a plan as always I appreciate your comments and feedback, The plan is to slowly liquidate to reduce losses, by only accepting sales at the higher end of the spread on GLBSE. As previously done. This liquidates about 5% a week (so far of course this depends on what assets are held), as well as close all accounts and settle all illiquid debt. I don't want to rush this process as that would mean larger loses, so the plan is that majority of the assets will be liquidated within a couple of months. This I think is both reasonable and realistic. The payouts will be proportional to the amount of BTC you have in GBF and will be paid once a threshold is reached, say 5-10%. Meanwhile the Bitcoins will be held in our margin/arbitrage bot, to generate some profit to negate the loses. This means that everyone that has requested withdraws so far unfortunately is going to have to wait and be paid proportionally, this is the reason why I have not paid out withdraws this week as it would be unfair to the people that still had their BTC in the fund, I know this is going to cause a lot of anger, but I think it's fairest this way. The logbooks will not be daily but weekly and will reflect the amount liquidated, payouts will keep being on weekends. Best Regard //DeaDTerra Please note that the amount paid it will be done by the following forumla: account balance/total balance * amount liquidated, this might not equal to account balance. |
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12.282453 BTC has been paid to the share holders of GSDPT //DeaDTerra |
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Backing has been completed Current backing is 1:1 ratio and Erik is going to pay the dividend any minute now. After the dividend the ask wall will come up again. //DeaDTerra |
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Hej! Jag letar efter några svenska miner för att regelbundet köpa Bitcoins. Jag är intresserad av att köpa Bitcoins direkt från svenska miners och på så sätt dra ner kostnaderna för båda parterna samt göra transaktionerna lättare då de kan göras via cash eller bank överföring. Några hundra BTC i månaden är vad jag är intresserad av just nu, pris och volym kan diskuteras. Låter det som något för dig så PMa mig. Volym: 250 Bitcoins Pris: MtGox latest*sek/usd*1.01 Hey! I am looking for a couple of Swedish miner that can sell bitcoins to me on a regular basis. By purchasing Bitcoins directly from the source, we can reduce the costs/fees for both parties, the transactions would also be smother as we could deal in Swedish bank transaktions or cash directly. Right now I am interested in a couple of hundred BTC a month, price as well as volume can be discussed. If you are interested then send me a PM. Volume: 250 Bitcoins Price: MtGox latest*sek/usd*1.01 You can also reach me by email at terragubben@gmail.com//DeaDTerra |
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Jag är eventuellt intresserad, skickar ett pm senare  . Okej gör det du //DeaDTerra |
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Make that 11628 BTC to go  That was me purchasing some shares for the backing //DeaDTerra |
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Site is back this weekend
sry for problems, more infos to come
sry for bad english customers, but please do not worry
viktor
Weekend is over... ... and page going to be online again. we have some problems with the website but we are currently working to solve it. Thanks for staying 'calm' to this time. sorry for bad english. I have tried contacting both Crazy and Viktor several times through skype and email and I have got no answer. If this silent treatment keeps up I will have no choice put to post the info I have and the scanned passport pictures on the forums. Shape up guys! //DeaDTerra I would post it already. The silent treatment have been long enough. Viktor responded to me today so I will give them a bit more time. //DeaDTerra Any updates, DeaDTerra? Maybe it's time to post his information? Super busy at the moment, but when I have more time I am going to gather my info and some info given to me and post a new thread and link to it here. Where everyone can share the info they have and together track them down //DeaDTerra |
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I am in Good initiative! //DeaDTerra |
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A final wave of shares will go out, then the backing will be synced So that we are prepared for the dividend. //DeaDTerra |
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