Oh, I can't provide a spreadsheet with people's assets, if that's what you're asking for. (Unless everyone starts releasing their investments publicly, no one could)
Dig harder - quite a lot is public. |
|
|
|
I'm guessing that there is a reason Kim Dotcom relocated to NZ,
Oddly enough, it's a nice place to live. he has a $30m mansion which gives him a shit load of space, the weather is nice, and it's reasonable cheap. Also (for some reason I haven't quite worked out yet), New Zealand is a popular destination for Germans (despite it being a really long way to come). Germany is one of the top ten tourism markets for us domestically. More likely, the Feds thought we would be an easy place to bully and maybe the RIAA wanted to pick on the 96A provisions (local version of the three strikes law). |
|
|
|
|
Sub for interest (and the Starfish waves from Wellington).
Class action here is not common, and the awards under various cases are not like US courts. I could check the company registration easily enough, and you could take a fair trading case (or small claims to do it cheap). Under the CCompanies Act, you could also go after the Directors for breaching their duties (reckless trading section 135-ish).
|
|
|
|
If you put all your money back in every time, it's actually 37x a year :O
Shhhh.. don't do the math. I don't want to be paying for mortgages and sports cars for my lenders. I was looking at something else and bumped into this old quote. I don't have a mortgage, but the interest helps pay for my car hobby and repairs. |
|
|
|
|
Just as a close-out, this loan has been repaid in full. Scott was a good borrower.
|
|
|
|
WME,
Go scam some one else.
They are trying Tradehill as well. |
|
|
|
|
Just as a note: received additional deposit for SA's reserve fund today.
|
|
|
|
I suspect he has gone again. I have not heard anything via my lawyers despite his asking for contact details (and my providing them), and I don't think he is interested in providing any answers to some quite reasonable questions, let alone meeting any of his obligations.
That leaves me in an awkward position. I have the remaining Bitcoin assets of the exchange, but neither the authority nor the necessary information to distribute them to their rightful owners. i wouldn't rush it. you don't want to be in a situation where you've distributed funds and then find out 3 months later that it was done incorrectly. Thank you payb.tc, that is a very sensible comment. In other liquidations, there can be a liquidator appointed, and that can be from the business or from the creditors. A file of creditor claims would be made, and paid on. For now, I'm comfortable with Chris just holding onto things. If he is agreeable, we could provide evidence of claims over the next three months (say to 1 August) and if nothing else happens before then, he would distribute on that basis. I would even be comfortable contributing some coins to him for his efforts/troubles. (does the database scrape you have include client contact details?) |
|
|
|
|
I suspect he has gone again. I have not heard anything via my lawyers despite his asking for contact details (and my providing them), and I don't think he is interested in providing any answers to some quite reasonable questions, let alone meeting any of his obligations.
|
|
|
|
That's going to be hard - for example, we have one of the holo unknowns that were given away with one of the early movies.
Otherwise, probably 1000 cards sitting in the garage from the series one decks. (disclaimer - it's my daughter who is the long time, core poke-nut. Our first visit to a Poke-Centre in Tokyo was really funny as she had to look at everything all at once)
Lucky for me, I only want the 1st generation cards. I want every card from Base, Jungle, Fossil, Base 2 and possibly rocket/legendary collection (base 3). I think its somewhat do able. I think I still have the card list (unlikely to still have the box) for Jungle and Fossil (and base). We had a few of the original sets - I can have a look in a few days. It's not like you're after the collection of plastic figures - there's a lot of those!! |
|
|
|
I had the 2nd rarest card in the game - a Ninetales error card (no attack value 80 printed on it). Recently sold it for $250... not bad! Everything else of my collection I sold when I was 14 or 15, but I kept that one card hoping it'd be worth a lot someday.
Nice, when did you sell it? I see the only one on Ebay right now is $150. My new goal is to own every single card, of every edition and variety. That's going to be hard - for example, we have one of the holo unknowns that were given away with one of the early movies. Otherwise, probably 1000 cards sitting in the garage from the series one decks. (disclaimer - it's my daughter who is the long time, core poke-nut. Our first visit to a Poke-Centre in Tokyo was really funny as she had to look at everything all at once) |
|
|
|
Would like to say thanks to DeadTerra for providing a well managed fund. I had a need to withdraw some coins today to fulfil a reasonable sized loan I organised and DT allowed me to cash out a few hundred coins without any problem. Still invested, like the dividends  |
|
|
|
I might be able to accommodate your AUD needs. What bank were you thinking of using? You could wire to my ANZ account.
I don't think I could do 2000 BTC in AUD at the moment, but at least I could get you part of the way there.
Similar (ie, probably not doing the full amount) - I can trade in AUD and have an account at CommBank. CryptoX has worked well for me. |
|
|
|
|
Starfish waves at Kluge and INAU.
|
|
|
|
Re: Cobra loan
I spent quite a while discussing and arranging a loan with Cobra yesterday and we reached agreement to do a three month, 200 coin loan. We discussed quite a few things and on reflection (along with some recent bitcoin developments) Cobra decided not to take up the loan, and returned the test deposit we had exchanged. Cobra is not a long-time or senior member, so is still building credibility on the forum, but on the basis of my dealing with him, will probably do some business when the time is right.
Thank you Patrick for the kind words. I look forward to building credibility in the forum and maybe taking a loan in the future. I certainly understand why any lender is skeptical to loan a large sum of coins to a new member with limited posts, it almost instantly gets a scammer comment from someone. Many new members that have burned a lender unfortunately ruin it for other new members. I thank Patrick for not stereotyping me right away and just tossing me in the high risk category without any further thought. I was able to prove credit worthiness and verify identity to put his mind at ease. I was going to buy 6 BFL's and finance 2 of them but started to think of all the negatives revolving that. The wait will probably be well over 6 weeks. Hopefully you could sell them here but the market is limited unlike a video card. With all the other people buying these and the increased hashing power on the network combined with increasing difficulty, I am going to wait things out a bit. As an update, Cobra did take out a 200BTC loan, and recently we agreed an accelerated payment schedule and it is now fully paid off. Excellent person to deal with. |
|
|
|
That I can't argue with. Of course there's a fun aspect that's not captured by the math at all. It's why I sometimes play the lottery or play black jack or roulette. I know the odds are against me, but it's fun sometimes.
I don't even play the lottery and casinos seem like a waste of time unless you're doing it for fun as you mention (maybe people watching and drinking beer with friends while ignoring horses race also qualifies), but we've wandered way off topic. If I wanted to, I could have been all-in with BS&T and made some extra money, but the expected payoff tends to zero, just as it does if you play roulette repeatedly until your stake is gone.. The TL;DR version probably goes: PPT isn't necessarily the highest paying investment for the guys that put up 4000 in backing coins, and there is a wealth transfer for some people if they snag bonds at a good price. |
|
|
|
While this is a very significant bitcoin-related "theft" (by the banks?), I take that no bitcoin was lost, and the losses were actually in AUD. Is this correct? I am guessing the majority of losses will be AUD losses (around $26000), but depending on recovery, there are likely to be people over 1000 coins out of pocket. It might just sit here in the thread as a footnote/cross link. |
|
|
|
Using the numbers that Andre recently provided, on top of my most recent backup shows that WBX should currently be holding
1,769.0417 BTC and 25,779.49 AUD. If we assume a price of $5 AUD/BTC then that's a total of 1,769.0417 + 5,155.898 = 6,924.9397 BTC.
Just coming back to this, managing to lose $25,779?! That must have been pretty damn obvious well before you pulled the plug of people's accounts. (observation - my account now tells me I have a zero balance) Please note that the numbers I posted are based on my most recent backup, and the statement entries that Andre pasted in this thread. It may be that he honoured AUD withdrawals which I don't know about, in which case the outstanding dollar balance will be less than I posted. I have requested the information I need several times now, but so far it hasn't been forthcoming. Unlikely - I was having enormous trouble getting money out and if it had been $500/day like it should have been, I might now simply be an interested bystander. From discussion in this thread, it only takes three or four people to get to half of that total. Andre still has the option of making a payment arrangement to cover his debts, and I still have debt collection services at my disposal. One way keeps people happy, the other will screw up his life more than mine. |
|
|
|
However, it is unlikely that I would have taken those coins and done that. he others may have. But we do have 4000 coins sitting idle earning no interest, so that is a cost (even if just an opportunity cost).
PatrickHarnett, I don't understand why it's unlikely that you would have taken those coins and invested with Pirate directly. For this round of PPT.A, your downside is exactly the same as if you deposited 846 btc with pirate and did compounding interest for 4 weeks. If pirate defaults, you lose 846 btc in both scenarios. But your upside is less with selling 3000 shares of PPT.A at 1.038. So no matter how you look at it, this round of PPT.A is strictly worse than just deposing most of the insurance fund with pirate. If you don't agree with my analysis, then I'm willing to personally buy 3000 more shares of PPT.A at 1.038 from you. As long as you promise to give me 960 btc if pirate defaults. You are effectively giving people a 33.7% interest rate, which is better than pirates 31% compounding rate. I do not agree with your analysis. For a start, I have other demands on funds that have longer term uses other than BS&T. I reached a point with my deposit some time ago (around 1 March) where I considered 4000 was a sufficient exposure to a single point of failure. Second, I have a portfolio to manage. If you were investing and choose to put 100% into one asset, that is simply poor risk management and you need to consider expected returns. Third, I have several strategies in play, and one is maintaining an overall level of funds in BTC. Lately I have been retaining additional coins to meet business needs (such as long term finance and other asset purchases), and checking my position I am currently 2715.78 BTC above my preferred position and partly because I extended a loan to a good friend rather than converting into funds for some of my other hobbies. What you also fail to include in the strict math sense, is the fun aspect. It's more interesting to me to be doing some other stuff. Quite why I would accept 1.038 for more bonds, I am not sure, but if you wish to forward 3114BTC to me and have me pay you 3840BTC in four weeks time having put them into my BS&T account, then feel free to do so (but I have no particular reason to offer 960 coins in the event of a Pirate default) so as you have a deposit address, after all many people have coins with me getting a mere 1.5%/week and they are quite happy with the arrangement. |
|
|
|
|
Show Posts
