So they could in theory just keep holding these blocks, and never let me trade?

If you have any other questions please ask. 

I've been trying very hard to stay out of this, umm, "discussion", but just wanted to chime in... no, this is not troll food, so please, trolls, pay no attention.

You've all trusted Havelock Investments for over a year, you could come to our office and talk with us, you could pick up the phone and call us.. and _many_ of you did.  When the Panama Fund acquired Havelock Investments from the original owners (myself and my business partner), we made sure to vette the purchaser (who we already had a pre-existing business relationship with) and required them to have contact information available.  One of the reasons you trusted Havelock to begin with was because we were a bricks and mortar office with a real phone number at our real address manned by real people.  The same continues to apply today, whether its in Canada or Panama makes no difference.   If  you have doubt, please, call, visit the office, check out the new owners in "real life"... if you're not willing to get off your ass and venture away from your computer chair in your parents basement, you probably shouldn't be in the Securities forum.   Taking part in securities (virtual or not) always requires you to do your own due diligence... actual due diligence. not just a few google searches.

James

The trust rating issue has been fixed, it seems. Now he rightfully has a trust rating of -168. I don't think I've ever seen someone with such a low trust rating on the forums before, and certainly not without a SCAMMER title. Not that it would do much good right now, anyway...

Several factors... it was better thought out than it sounds:

- The loan was essentially a gift from yours truly, at the time very likely never to be able to be repaid because it was expected that the company would actually need a larger loan.  Had BTC prices remained the same we would have needed another 500 BTC relatively shortly.  Instead BTC prices rose and now it's unlikely to be repaid because the BTC value has spiked.  Either way, the result is the same... debt larger than revenue because of the forced shutdown.

- It was -immediately- available.  It was needed ASAP to retain representation.  Had we not moved quickly, the orderly shutdown would not have been possible and liability would have been immense.

- Part of the company's defense is that it -had never touched- (and still hasn't) a single dollar of USD.

- Banks won't work with Bitcoin based businesses.  (At least in my neck of the woods.)  And anyone else with all the facts in hand would never have given us a loan.

Cheers.

Do you do anything besides create FUD?

- A 504 BTC loan

Why is an investment firm purchasing an asset only to try and raise an investment from other investors? What is 3600XBT to "The Panama Fund" and why can't they pony up 1.6 million dollars themselves. Seems Illogical.

Seriously this all looks so weird, are we even dealing with the same people that were behind havelock before this panama business bought them? Or is this is just some sort of balant scam.

Many argue he's paid theymos to maintain such a trust level.

I always hate the rushed feeling of all this. Documents are released to the public, and 24 hours after that the fund goes live. That's never enough time for an investor to make a calculated decision on whether or not investing is a good idea. Add in the "Get it while we offer at a 50% discount" attitude and everything starts to blend in with the other quickly thrown together short-lived ventures.

I'm not saying Havelock doesn't know what they're doing or that this isn't any less legitimate than I think it is...just more of a "I wouldn't do it this way for various reasons" kind of thing.  

Thanks for your reply. Two questions. 42=42 bitcoins? What is TF?

At least they're proposing possible solutions to this mess.  It sucks for everyone except for whoever it was that stole the 4100 bitcoins.  What would you propose as a solution, Lohoris?  Or are you one of the people who thinks that TradeFortress just absconded with the money himself and is screwing over his investors?

This is much fun: if you find a burglar in your apartment you kindly ask him if he's lost, and if he can kindly put down your laptop, because he must certainly be mistaken: it's yours, not theirs, but that's an understandable mistake.
Lol you're so fun.

A committee is being formed to get this done.

I'm getting awfully sick of people complaining about the forum's BTC... ~57% of the forum's money is from ads, not donations. Perhaps 20% is from people who donated when BTC had very little value, and they (and I) thought that the forum software would be forthcoming. I apologize for taking so long, but my waiting has increased the purchasing power of this money by 500+%. The rest is from people who mostly just wanted the Donator/VIP label, and knew that the forum software was unlikely to appear soon. This is only an issue at all because my good management of the forum's finances resulted in a gigantic stash of money.