[GLBSE] Flying Dutchman Bitcoin Fund - Completely Transparent

[Shadow383]

I have some of these shares right now, looking at picking up a bunch more, but do you guys plan on getting more heavily verified with GLBSE?

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[mcris444]

I would love to know your future plans on FPGAMINING as things develop.
I know things are difficult with them right now. Communication is key.

[paladon]

I would love to know your future plans on FPGAMINING as things develop.
I know things are difficult with them right now. Communication is key.

We have no new information yet, but there are too less bids to sell for a price without a very big loss. As soon as we have new information we will post it.

Besides the FPGAMINING disaster there is another problem with our deposit at RustyRyan.. he has not paid interest this week... and not responding at our calls..

Keep you updated.

Regards,
Paladon

[markm]

Besides the FPGAMINING disaster there is another problem with our deposit at RustyRyan.. he has not paid interest this week... and not responding at our calls..

Surely you knew that was coming, though? Didn't you pull out your initial capital in time?

-MarkM-

[paladon]

Besides the FPGAMINING disaster there is another problem with our deposit at RustyRyan.. he has not paid interest this week... and not responding at our calls..

Surely you knew that was coming, though? Didn't you pull out your initial capital in time?

-MarkM-

Sorry but if we knew it, we would have sold it... Just after the news was called we try to sell but price was already dropped dramatically and there were not enough bids. As you see we (PsychoticBoy and me) are very often online and did not see this coming unfortunately.

[markm]

Besides the FPGAMINING disaster there is another problem with our deposit at RustyRyan.. he has not paid interest this week... and not responding at our calls..

Surely you knew that was coming, though? Didn't you pull out your initial capital in time?

-MarkM-

Sorry but if we knew it, we would have sold it... Just after the news was called we try to sell but price was already dropped dramatically and there were not enough bids. As you see we (PsychoticBoy and me) are very often online and did not see this coming unfortunately.

Wow. How much longer did you figure it would run?

Did you also think Pirate's one would run longer than it did?

-MarkM-

[Francesco]

Besides the FPGAMINING disaster there is another problem with our deposit at RustyRyan.. he has not paid interest this week... and not responding at our calls..

Surely you knew that was coming, though? Didn't you pull out your initial capital in time?

-MarkM-

Sorry but if we knew it, we would have sold it... Just after the news was called we try to sell but price was already dropped dramatically and there were not enough bids. As you see we (PsychoticBoy and me) are very often online and did not see this coming unfortunately.

That's what's great about transparent funds: you could not see it coming to your shares, but I can see it coming from them to you. Ther's always someone that realizes things days later... so, sell high, buy low.

Please continue paniking people, I have other (low) bids to be filled 

(P.S. sadly, this just reduces my own losses on FPGAMINING itself...)

[PsychoticBoy]

Dear investors,

moparguy528, issuer of FPGAMINING, stated in a motion on GLBSE that he will slowly buy back all FPGAMINING shares.
This is the motion as viewed on GLBSE:

Motion ID:144
Ticker symbol: FPGAMINING

Effective as of midnight September 25th, 2012: Due to the closing of this bond the interest as spelled out in the contract is null and void. Until all shares are bought back by the issuer, interest in the amout of 1% of the remaining outstanding shares, at a par value of 0.8BTC per share, per month will be paid at the end of each month. Once all shares are bought back by the issuer via the market or share buyback process, no further interest will be paid. Any further information will be released via future motions.


Hopefully this disaster ends with a whimper.


Yours sincerely,

PsychoticBoy and Paladon

[mcris444]

Could you post here if/when you get in contact with RustyRyan or if there is any news as to the situation with him?

[paladon]

Could you post here if/when you get in contact with RustyRyan or if there is any news as to the situation with him?

Of course we will. He has not responded yet at our pm's. Besides that we reduced our FPGAMINING shares to 120.

Regards,
Paladon

[Francesco]

Dear investors,

moparguy528, issuer of FPGAMINING, stated in a motion on GLBSE that he will slowly buy back all FPGAMINING shares.
This is the motion as viewed on GLBSE:

Motion ID:144
Ticker symbol: FPGAMINING

Effective as of midnight September 25th, 2012: Due to the closing of this bond the interest as spelled out in the contract is null and void. Until all shares are bought back by the issuer, interest in the amout of 1% of the remaining outstanding shares, at a par value of 0.8BTC per share, per month will be paid at the end of each month. Once all shares are bought back by the issuer via the market or share buyback process, no further interest will be paid. Any further information will be released via future motions.


Hopefully this disaster ends with a whimper.


Yours sincerely,

PsychoticBoy and Paladon

I understand you want to rassure your investors, but ther's notable concern on the ability of the issuer to repurchase the shares (all and at full price, at least). Ther's also a scam accusation (...however little that can mean these days, I concede). So I hope that behind the scenes you're actively worried and pressuring him in any way that could be useful.

[mcris444]

Thought shareholders might want to know about this... The dashboard currently states we have 115 shares of BDK.BND bought at an average price of 0.09937826   

9/30/12

Effective immediately,

I am defaulting on my BDK.BND debt. Beyond this, I will no longer be honoring the contract in the form I originally laid out. I previously intended to empty my non-legal wife's (we personally consider ourselves married, but legally, we are individual and thus have rights we'd otherwise forfeit) 401(k). I obviously did not want to do this, but it became clear it was necessary as I was looking at $200-250/wk interest on this single debt while having been financially raped by loans to various members of the community (No, Pirate is not the primary cause of my distress. Please don't turn this into some Pirate discussion.). After weeks of tha stress, on top of previous stress... heated arguments... -- this is no longer an option. I do not think her response to my actions is unreasonable (she's already effectively lost tens of thousands due to my actions), but this clearly affects my ability to repay within what I'd consider a reasonable time-frame. I currently have a negative net worth excluding my residence which would be protected under a personal bankruptcy filing which I will not pursue unless a suit is formally filed against me. I'd advise against taking action on potential cynicism, and suggest you give me at least a couple months to confirm I am indeed making a decent effort toward repaying what I owe.

I am unable to pay interest on my current BDK.BND debt. It's impossible for me to keep up with that, living expenses, and interest on other debts which are small enough where I can close them - and I apologize, in a sense, for the unfairness of how this is being handled. BDK.BND-holders, who I've always wanted most protected from risk, are now getting the shaft. I cannot subject my wife to more loss, and will be forcing BDK.BND holders to suffer as a result of my unwillingness to liquidate my residence. I apologize for the trust I've violated, the business mismanagement, and this default as a result. If I were unable to compartmentalize, I would be unable to write this. I am truly and deeply sorry. I also apologize for not having the emotional fortitude to prevent what I'm also about to announce: I will not be communicating much, if at all. I will likely not read anything written in this thread beyond this post for months. I just can't handle it when there are many things I need to do to get the situation in order. I will not be responding to phone calls, Skype messages, nor responding to emails. I will not be clarifying what I've written, and will not be responding to questions. I just can't right now, and understand how bad that looks and is. Again, I apologize. I will post an impersonal message each time I make a dividend payment.

All BTC I currently own will go toward BDK.BND payments. These will come in the form of irregular, unannounced dividends -- there will no longer be .001BTC/bond dividends each week. I will never buy BDK.BND back, and that section of the contract can be considered practically void. I can do nothing but assure everyone that I have no intent to make any purchases of BDK.BND units, and will allow them to trade freely on GLBSE as people value them given I have absolutely no information on when, and in what amount, these bonds will be repaid. However, I promise I will repay the debt as it stands, as I'm able. So long as GLBSE is active, I am alive, and earning income, I will continue to make dividend payments on BDK.BND units as a gesture of goodwill (and appreciation for not suing me into bankruptcy) beyond the .101BTC "hard debt" I currently consider as existing. Basically - I will be making larger, more rapid payments until dividends beyond this date reach .101BTC/bond. After that time, I will continue paying irregular dividends in a way which is appropriate for the gratitude I owe, and possible for the amount I need to live. I am unable to provide a repayment schedule or dividend schedule. Essentially - I'm giving what I can without forcing an unreasonable amount of loss (beyond what I've currently caused) onto my non-legal wife, and I naively hope everyone trusts me to be doing exactly what I'm saying I will. I'll provide instructions in my will to give an update (with death certificate) on this forum in the event of my death. Though things have been pretty shit lately, I am not at all suicidal -- just gave the info in that last sentence as an FYI.

-Ben

(Additionally... Someone may remember I recently posted assets/liabilities on my side. This included many of my non-legal wife's assets. The CU/bank assets have been largely emptied to repay CD-holders and my mother, who fronted us money to purchase this house [I've since defaulted on that loan, too, after a partial repayment so I could repay CD-holders]. There is still one outstanding CD-holder who has been excessively generous in providing me time to repay.)

(Many individuals have my home address [NOT the Spring Arbor address. That is a family member's house. DO NOT release that address.]. I would prefer my home address not be released publicly, but would also not consider public release of that information unwarranted. If you are coming for a visit, I would like at least a voice message a day or two prior. Harm toward family's off-limits, and I would physically object to bodily harm which may result in my stay in a hospital, as that'd further impede repayment. I am armed, so please keep ideas of physical violence in check.)

On another note, on the dashboard maybe you should highlight (red?) the loan receivers who have not paid their interest/outstanding BTC?

[paladon]

Thought shareholders might want to know about this... The dashboard currently states we have 115 shares of BDK.BND bought at an average price of 0.09937826   

On another note, on the dashboard maybe you should highlight (red?) the loan receivers who have not paid their interest/outstanding BTC?

We sold our shares of BDK.BND with loss but we did get some money back. Dashboard is updated right now. Besides that I made red what is not going well (FPGAMINING and not paying loans).

Regards,
Paladon

[PsychoticBoy]

Dear investors,

Weekly dividends have been paid!

8.68364835 BTC paid over 5655 shares.
Payment a share 0.00153557 BTC.


Yours sincerely,
PsychoticBoy and Paladon

[DonChate]

let's see how long it takes to unravel this mess.

[PsychoticBoy]

Dear Investors,

We recieved the shareholders list from GLBSE.
Almost all our funds were in GLBSE, till this day we have not recieved our bitcoin from GLBSE.


From this day on FDBF will be CLOSED!
We are now collecting all dividends and selling off all assets (Exchange or Buyback), revenue will be divided among all shareholders evenly.

Some asset issuers are giving shareholders a hardtime claiming their shares (like gigavps), so it might be possible that FDBF will not get all the owned assets back.

I will send out an email tonight to all shareholders that are in the list provided by GLBSE.
We will keep you all informed.

Sincerely
PsychoticBoy

[PsychoticBoy]

Dear Investors,

We had 5655 shares issued at the time GLBSE closed down,5446 shares have been claimed, 209 shares have not been claimed.
If you have not already claimed your shares, please do so now at GLBSE

We still have not recieved any coins from GLBSE but PIMP has paid out final buyback+dividend a grand total of 51.48 BTC  
The FDBF "Piggy Bank" can be viewed at 1Cctovagc8UzJoz5PERpHVNkBnWhbwcQUV
When we have reached the point that almost all dividends are paid and all assets are converted to bitcoin, the total balance of the FDBF "piggy Bank" will be divided among shareholders equally.


Sincerely,

PsychoticBoy & paladon

[LoweryCBS]

How many BTC are being held hostage by GLBSE?

Any idea why they haven't been returned?
(have all requested hoops been jumped through?)

[PsychoticBoy]

How many BTC are being held hostage by GLBSE?

Any idea why they haven't been returned?
(have all requested hoops been jumped through?)

The amount of bitcoin held hostage by GLBSE is more than 50 BTC.
Yes I contacted Nefario (James McCarthy) several times and did not respond.

I do hope we will get those coins back.

[strello]

Thanks for the information.

I think it's a great pity that the FDBF was forced into failure by JM, as you were doing such a great job. He has a lot to answer for.

Can you say, even roughly, what the total balance you are expecting to reach before you start the payout.