any update?
They finally got back to me (today) and they will deposit funds into our account once they receive a letter from our bank. Hopefully by EOD this should be completed and we will have the funds early next week.
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I should have more of an update on Monday once the bank gets back with me to confirm that the deposit has posted to the account.
Monday is over, what's the update? The money has not been deposited into the account yet. I have contacted First Pay Solutions to find out what is going on. |
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I should have more of an update on Monday once the bank gets back with me to confirm that the deposit has posted to the account.
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Here is a letter from our merchant account regarding when the funds will be paid out. |
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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 Jerod 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.
Our initial supply of bitcoins were sold as users bought them from our site. The money then took 2-3 days to reach our bank account from our merchant account, and then another 1-2 days to wire the funds to bitstamp. We wired the USD funds back to bitstamp as often as possible, but the simple fact is that do what you propose would have required 3-5 times as much capital than we had on hand. When you sell bitcoins you hold cash. It is impossible, due to logistics, to instantly convert/maintain all funds in bitcoins. We did not receive a salary for any of the time we invested into btcQuick and we plan on returning everything that we have back. |
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Ascension, please give some updates.
As soon as the money is released from the merchant account provider and the hold on our bank account is lifted we will make a final payout based on the bitfunder asset list. The new merchant account required 10% of every transaction to be held in a 6 month rolling reserve. Every that remains dime will be returned. If anyone has questions you can PM me. 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. You need to reread the OP. "The remaining BTC will be used to increase btcQuick's rotating inventory supply to sell." This means that we used the bitcoin supply as inventory in order to sell them to our customers. Exactly. Rotating. You sell bitcoins, and you buy exactly same amount from an exchange. So all bitcoins must be still there. No, it takes time to move the money from the merchant account to our bank account back to the exchange account. Bitcoins were purchased in real time with our customers. |
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What merchant account company are you using? Lets cross check with them.
I provided a copy of the merchant account statement not to long ago. All the info you need can be found here. |
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Ascension, please give some updates.
As soon as the money is released from the merchant account provider and the hold on our bank account is lifted we will make a final payout based on the bitfunder asset list. The new merchant account required 10% of every transaction to be held in a 6 month rolling reserve. Every that remains dime will be returned. If anyone has questions you can PM me. 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. You need to reread the OP. "The remaining BTC will be used to increase btcQuick's rotating inventory supply to sell." This means that we used the bitcoin supply as inventory in order to sell them to our customers. |
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Ascension, please give some updates.
As soon as the money is released from the merchant account provider and the hold on our bank account is lifted we will make a final payout based on the bitfunder asset list. The new merchant account required 10% of every transaction to be held in a 6 month rolling reserve. Every that remains dime will be returned. If anyone has questions you can PM me. |
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Currently we are awaiting the funds to be released from our merchant account and to be deposited into our bank account. Once the hold our bank account it lifted we will convert all USD assets to BTC and distribute according to our Bitfunder list. Here is a link to our Merchant Account Statement - April 2014. |
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Why not exlude funds that are affected by possible CC and ACH chargebacks and payout the non affected funds to investors in the next few weeks? When the chargeback windows have closed the remaining funds could be paid out?
Likely a much better solution than waiting up to 12 months to pay out everybody
+1 Hopefully not all the remaining funds are affected by the chargeback windows ... I want to get what BTCQuick has left now right away. Ascension must pay investors money as soon as possible. Remaining bitcoins is easy to pay back through dividends right now. Remaining FIAT reserves must be converted to BTC right away and returned to investors. If Ascension doesn't do that we must assume that he tries to scam us. He buys bitcoins now, but in the future will say that he buys them at much higher exhange rate, for example 2,000 dollars in 6 month. That way he scams most of funds from the investors. Making us wait for so long is also a way to scam us more. Investors will start to accept that we won't get anything and will stop to demand our money back. We must demand financial report from Ascension to tell us about all remaining funds right away. If he doesn't give as financial report really soon and return those funds that are available right now, then it means he wants to scam us. Pay what you have now right away. When more funds become available in 6-12 month, you will pay them then! Don't let this become another scam like so many that happened lately! Ascension, you must act quickly and tell about the remaining funds right away. You don't have your company any more, there is no more business, if you fail to give us report, we will start to give you negative trust and will sue your company. Your scamming strategy to pay in 6-12 month is bullshit and we know it! The simple fact is our merchant account has a 6 month reserve and our bank is placing a 6 to 12 month hold on the account. Meaning I cannot withdraw any funds at all until this period is over. I will supply a summary of what is in the merchant account, what is in our bank account and what BTC we have remaining. It is my goal to be transparent and ensure that our investors get back every dime that remains. Unfortunately several companies have raised funds on bitfunder and then disappeared, I would ask that you all treat this differently to make this process easier on everyone. At this time I cannot withdraw any fiat funds from any of our accounts, meaning I cannot convert it to BTC now. |
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Well, how much would we get?
How much per share? Can we at least recover our initial investments?
This still has to be determined as we have to wait out the chargeback period and settle any remaining bills for servers ect. |
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btcQuick is not operating and it has been decided that the company will be dissolved and the remaining funds will be returned to the investors.
We decided that this would be the best option in light of our new merchant account being a complete joke, ACH payments are extremely fraud prone, U.S. regulation ,and our bank account has been put on hold. Due to the Credit card and ACH chargeback windows we will have to wait 6-12 months before we can return the funds back to the investors.
I will issue an official memo in the coming week along with a current assets report/listing.
Thank you for your support,
Ascension
Oh sorry to hear that. I haven't seen any figure on what the dividend that was payed out after the closure of Bitfunder was per share, has it been announced anywhere ? I haven't registered on the portal yet, do i need to do that or will i automatically get the dividend send to my Public Bitfunder adress now then, the dividend that people that register already got after the closure of bitfunder. And the same question about the final distribution of funds in 6-12 months time, will they work automatically to peoples public Bitfunder adresses or is there a need to register the shares at the portal ? We will use the bitcoin address that was linked to bitfunder. |
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btcQuick is not operating and it has been decided that the company will be dissolved and the remaining funds will be returned to the investors.
We decided that this would be the best option in light of our new merchant account being a complete joke, ACH payments are extremely fraud prone, U.S. regulation ,and our bank account has been put on hold. Due to the Credit card and ACH chargeback windows we will have to wait 6-12 months before we can return the funds back to the investors.
I will issue an official memo in the coming week along with a current assets report/listing.
Thank you for your support,
Ascension
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hoping to have a update ready by the end of the weekend.
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Any updates about the dividends?
Is ascension alive?
Dividends are only issued when there is profit. We are doing our best here but it seems the large cost to acquire licenses in every state is just not feasible and takes almost 2 years to do. While we can focus our efforts to servicing international customers this requires an entity outside the U.S.A., a bank account outside the u.s.a. and a merchant account outside the u.s.a. |
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Also the SELL button disappeared.
Ascension, please give us some updates.
The sell bitcoin feature has never been a "live" feature. |
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It called regulation, FinCEN, Money Transmitter Licensing. |
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ActiveMining is going to be training on Crypto-Trade.com.
It's a good looking interface and they're housed in Hong Kong, so issues of US regulation/shutdowns shouldn't be a pressing concern.
I request that you consider utilizing that exchange.
The location of the exchange does not matter... |
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Hi, I claimed my address. It says "Your Dividend Total" for Nov 15th through Dec 15th for me is 0.00022408 BTC.
The problem: I never received 0.00022408 BTC or in fact any BTC at all to my address that's been publicly listed all along.
Any help is appreciated.
PM your bitcoin address Hello there! I PM'd you my btc address several days ago. Just wanted to see if you had an update? Thanks much in advance! Hello there, Ascension! I was wondering: Could you respond? And I'll try once more, dear sir: Can you please reply, Ascension? Hello here, Ascension! For the 4th time: Could you reply at some point? Hi Ascension! Quick question: Could you reply? Hi Ascension, could you reply so that we know whether you're planning on honoring the dividends you owe or not? resolved https://blockchain.info/tx/d323e5a3bfa29e1b3f084f3640da9bc5cb9fe6bce753117f8dba84cc85a6da27 |
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