[BMF/CPA/NYAN] Liquidation Auction

[usagi]

Effective immediately, in order to win down as quickly, cleanly and fairly as possible, I post this:

https://bitcointalk.org/index.php?topic=135543.0

Please discuss it here, and only post bids in the above thread. Thank you for keeping the forums clean and tidy.

[jamesg]

Effective immediately, in order to win down as quickly, cleanly and fairly as possible, I post this:

https://bitcointalk.org/index.php?topic=135543.0

Please discuss it here, and only post bids in the above thread. Thank you for keeping the forums clean and tidy.

Gigamining can no longer be transferred between parties. Anyone who purchases Gigamining from usagi will end up losing money because the transfer will not be allowed.

[BurtW]

Well then it looks like I might be out 10 Satoshis on that bid.

I would like to bid on the Matthew N. Wright debt (750 btc) but would need to see a proof of debt, thread link, etc. before I bid.  Can you provide that?

[Deprived]

Few quick questions:

1.  ASICMINER - Has friedcat confirmed you had 10 shares of this yet?  (I know he confirmed some but not all - my own haven't been confirmed).
2.  BDK.BND - Did you receive an email from Kluge confirming you held the bonds you're selling?
3.  You say "- I reserve the right to bid on any shares here with my personal money."  Can you confirm that you WON'T bid yourself on lots then immediately end auction (one of the reasons I absolutely hate auctions with no transparency on end time) - allows issuer to snipe (either on own account or through a proxy)?

Will likely have questions on a few more - will look over list nearer 20th when it gets towards time to start bidding.

[usagi]

Effective immediately, in order to win down as quickly, cleanly and fairly as possible, I post this:

https://bitcointalk.org/index.php?topic=135543.0

Please discuss it here, and only post bids in the above thread. Thank you for keeping the forums clean and tidy.

Gigamining can no longer be transferred between parties. Anyone who purchases Gigamining from usagi will end up losing money because the transfer will not be allowed.

Well you can certainly state you won't honor the transfer, but then again you're refusing to return any value to me -- much like hashking or UDN. So whomever bids will have the right to make whatever claim against you they see fit, and I will wash my hands of the issue.

Unless of course there's a legal reason why not -- but there isn't, as far as I know you said it yourself, your lawyer is just requiring AML documents as a precautionary measure. Not to satisfy some sort of existing legal requirement to do so.

[usagi]

Few quick questions:

1.  ASICMINER - Has friedcat confirmed you had 10 shares of this yet?  (I know he confirmed some but not all - my own haven't been confirmed).
2.  BDK.BND - Did you receive an email from Kluge confirming you held the bonds you're selling?
3.  You say "- I reserve the right to bid on any shares here with my personal money."  Can you confirm that you WON'T bid yourself on lots then immediately end auction (one of the reasons I absolutely hate auctions with no transparency on end time) - allows issuer to snipe (either on own account or through a proxy)?

Will likely have questions on a few more - will look over list nearer 20th when it gets towards time to start bidding.

As stated in the rules, bidding starts now and can't end until at least the 20th, and the status of all assets will be updated as I get information, on the asset status page.

I'll look into those concerns now, but it appears as if you already have that information as listed on the page.

[jamesg]

Unless of course there's a legal reason why not -- but there isn't, as far as I know you said it yourself, your lawyer is just requiring AML documents as a precautionary measure. Not to satisfy some sort of existing legal requirement to do so.

You could not be further from the truth. KYC is a US government requirement, hence why I am doing it. If you submit your information, you will receive all back payments and will be able to upgrade to Teramining.

Please get your facts straight before posting incorrect information.

[Carnth]

Was going to bid...

If you have less than 500 forum posts you must pay a 10% deposit

Nope.

[usagi]

Unless of course there's a legal reason why not -- but there isn't, as far as I know you said it yourself, your lawyer is just requiring AML documents as a precautionary measure. Not to satisfy some sort of existing legal requirement to do so.

You could not be further from the truth. KYC is a US government requirement, hence why I am doing it. If you submit your information, you will receive all back payments and will be able to upgrade to Teramining.

Please get your facts straight before posting incorrect information.

I didn't say KYC wasn't a US government requirement, I said my recollection -- "as far as I know" -- is that you were doing this as a 'precautionary measure' and not because you had an order to do so.

Try to keep in mind I am not a lawyer. But as far as I can tell, KYC guidelines state a "customer" is merely the beneficial owner. Specifically they state that a beneficial owner can be the beneficiary of a transaction conducted by a professional intermediary. So I don't see a reason why I can't transfer my ownership to someone else, who can then identify to you. It wouldn't be my problem at that point. If you're just telling me that's what your lawyer said, that's fine, but I have no intention of dragging lawyers into it. I'll let someone else make that judgement.

[usagi]

Was going to bid...

If you have less than 500 forum posts you must pay a 10% deposit

Nope.

Well you're an asset issuer so I guess it's okay, but OTOH why not make a deposit? I mean, if you can't afford the deposit how could I trust you to come up with the money after the auction?

[Carnth]

Well you're an asset issuer so I guess it's okay, but OTOH why not make a deposit? I mean, if you can't afford the deposit how could I trust you to come up with the money after the auction?

It's OK usagi. It's your auction, so you can set the rules how you see fit.

But, I don't agree with the "post count" rule. So I won't be participating.


_{It's not like I've been a member on this forum longer than you or Deprived or gigavps etc.} 

[usagi]

Well you're an asset issuer so I guess it's okay, but OTOH why not make a deposit? I mean, if you can't afford the deposit how could I trust you to come up with the money after the auction?

It's OK usagi. It's your auction, so you can set the rules how you see fit.

But, I don't agree with the "post count" rule. So I won't be participating.


_{It's not like I've been a member on this forum longer than you or Deprived or gigavps etc.} 

This is why I had the rules up for 3 days before posting them on the auction forum, and why I state in the auction I can change the rules for up to 72 hours after the auction starts. With all due respect why didn't you say something three days ago? :p

Anyways i've already green-flagged you but you still seem unwilling to participate. My loss I guess.

[BinaryMage]

In cases of share transference where you have already submitted a withdrawal address - is the intention to forward funds or change the address if the shares are purchased by someone other than yourself?

(Apologies if this question has been answered elsewhere or is for whatever reason superfluous; I've been gone from the Bitcoin scene for awhile)

[usagi]

In cases of share transference where you have already submitted a withdrawal address - is the intention to forward funds or change the address if the shares are purchased by someone other than yourself?

(Apologies if this question has been answered elsewhere or is for whatever reason superfluous; I've been gone from the Bitcoin scene for awhile)

Yes, ownership will be transferred by signing a statement with the deposit address on file. I'll also manually transfer anything I receive from sale or refund if appropriate.

[BinaryMage]

In cases of share transference where you have already submitted a withdrawal address - is the intention to forward funds or change the address if the shares are purchased by someone other than yourself?

(Apologies if this question has been answered elsewhere or is for whatever reason superfluous; I've been gone from the Bitcoin scene for awhile)

Yes, ownership will be transferred by signing a statement with the deposit address on file. I'll also manually transfer anything I receive from sale or refund if appropriate.

Excellent, thanks for the prompt response.

[usagi]

An update has been posted with all recent bids taken out by a very nice snipe by usagi. There's still a few days left to bid:

ALL AUCTIONS END ON JAN 30TH. Not the 28th. I've extended it. Sniping period is, you have to make a bid within 1 hr of the last bid to out-snipe after the auction closes (I believe that is a reiteration of the rule I posted earlier).

Gentlemen...