SCAM IPO [Bakewell] - Finally, a 'transparent' investment that will 'grow'!

[Deprived]

Ian I know this thread isn't regarding your loan but you locked your loan thread.

You're three days overdue on your BTCjam loan, and now one full day overdue on your promise to pay according to https://bitcointalk.org/index.php?topic=146689.0.

I'll be honest I was suspicious due to the large amount of money and shares you had borrowed from the community. It looked like a cash out. The comments on BTCjam state that you intended to pay on the 8th (yesterday) but that time has come and gone.

Due to the large amount of money you've borrowed would you mind providing an update on this the next time you log in? Thanks.

I'm not seeing anywhere in that thread that he intended to make any payments on March 8th.  I'm reading that he didn't intend to start paying back until the end of the month.

"Payment schedule as follows:

March 1- borrow 600
March 8-  owe 621
March 15- owe 642.735
March 22- owe 665.230725
March 29- owe 688.5138 / 8 = 86.0647 payment = 602.4491 leftover"

No payment until March 29th - where do you see in that thread him saying he'll pay anything on 8th?

I was about as suspicious as you about all the loans he's taking (and borrowing things to 'short', some of which it's basically impossible to short - e.g. BTC-BOND) but not seeing how we was expected to make any payment yet.

[🏰 TradeFortress 🏰]

BTCJAM was never a good platform for setting up dates / repayments.

[MPOE-PR]

BTCJAM was never a good platform for setting up dates / repayments.

Heh.

[foggyb]

My contract with Ian stipulates interest payments to begin in April. So its a little early to be panicking just yet.

[🏰 TradeFortress 🏰]

My contract with Ian stipulates interest payments to begin in April. So its a little early to be panicking just yet.

+1, however doesn't charge a 5% late fee or something if you're late by over 5 days?

[potato5491]

Furthering my Bitcoin experimentation, I now own a mighty pair of shares in BAKEWELL. Having never purchased shares before I am quite enjoying the experience.

Good luck Ian.

I should add that the BitFunder site is well designed.

[wisard]

On the bright side, after a hell of an interesting / nail biting morning... I think I was successful in placing an order for two Avalon ASIC (#2 batch) and I think I should be in the first handful of those orders.

Do we know how high up are we in the order list?

Avalon announced that they will be taking a break in the middle of the batch #2 delivery.

https://bitcointalk.org/index.php?topic=155345.msg1647013#msg1647013

3, The shipment time of batch #2: Our team needs a vacation after months of day-and-night hard work, and we need time to summarize previous work, deal with issues and prepare the improvement of the future work. Further more, it takes time to produce the large amount of improved parts. So, the shipment of #2 will be delayed. Only a small amount of units will be shipped during late March to early April, but we will ship the batch #2 units in a super fast speed during middle Apirl to the end of Apirl.

[wisard]

Part of the 1800 shares held in reserve for growth and maintenance seem to have been sold.

There is no account owning 1800 shares of Bakewell anymore...
https://bitfunder.com/assetlist

[nameface]

Ian may have sold shares to raise capital for growth and maintenance.

[wisard]

Ian may have sold shares to raise capital for growth and maintenance.

May be. We won't know until he comments.

Last time, he had taken a loan when 20BTC was short to purchase the 2nd Avalon - instead of selling growth shares.

[🏰 TradeFortress 🏰]

Ian may have sold shares to raise capital for growth and maintenance.

May be. We won't know until he comments.

Last time, he had taken a loan when 20BTC was short to purchase the 2nd Avalon - instead of selling growth shares.

You'd expect growth and maintenance shares to be held (for the dividends) so they can keep growing in the future instead of growing once..

[Deprived]

Doesn't look good - was about to post on this myself.  Noticed someone had dumped a bunch so immediately checked to see if it was Ian (he'd been selling his own ones before).

Looks very much like he's borrowing (stealing) from the company.  Hopefully it's to repay his loans not to do a runner - though it's still theft of course.  It can't really be to expand - as even if he sold the lot into what orders are left there wouldn't be enough cash to buy an Avalon.

Anyone want some Bakewell shares that just got sold to me cheap?  Lol.

Silly thing is if the company keeps going the shares are actually very cheap considering they have a Batch 2 Avalon order.  So I'm not too fussed about just getting dumped a bunch of them - as the significant risk he was going to scam/steal was always factored in when I placed the bid.  Though wasn't expecting him to dump Growth shares - was more expecting him to dump rest of his personal (if he has any left) or some panicky investor to sell cheap.

[potato5491]

I am... Outta here! Got cold feet and just sold my puny stake.

Knowing my luck though the next post will be a picture of Ian standing next to a mountain of shiny Avalons...

[Justin00]

lol

[MPOE-PR]

Doesn't look good - was about to post on this myself.  Noticed someone had dumped a bunch so immediately checked to see if it was Ian (he'd been selling his own ones before).

Looks very much like he's borrowing (stealing) from the company.  Hopefully it's to repay his loans not to do a runner - though it's still theft of course.  It can't really be to expand - as even if he sold the lot into what orders are left there wouldn't be enough cash to buy an Avalon.

Anyone want some Bakewell shares that just got sold to me cheap?  Lol.

Silly thing is if the company keeps going the shares are actually very cheap considering they have a Batch 2 Avalon order.  So I'm not too fussed about just getting dumped a bunch of them - as the significant risk he was going to scam/steal was always factored in when I placed the bid.  Though wasn't expecting him to dump Growth shares - was more expecting him to dump rest of his personal (if he has any left) or some panicky investor to sell cheap.

This "growth shares" nonsense has to go.

[Deprived]

Doesn't look good - was about to post on this myself.  Noticed someone had dumped a bunch so immediately checked to see if it was Ian (he'd been selling his own ones before).

Looks very much like he's borrowing (stealing) from the company.  Hopefully it's to repay his loans not to do a runner - though it's still theft of course.  It can't really be to expand - as even if he sold the lot into what orders are left there wouldn't be enough cash to buy an Avalon.

Anyone want some Bakewell shares that just got sold to me cheap?  Lol.

Silly thing is if the company keeps going the shares are actually very cheap considering they have a Batch 2 Avalon order.  So I'm not too fussed about just getting dumped a bunch of them - as the significant risk he was going to scam/steal was always factored in when I placed the bid.  Though wasn't expecting him to dump Growth shares - was more expecting him to dump rest of his personal (if he has any left) or some panicky investor to sell cheap.

This "growth shares" nonsense has to go.

Yeah - though if they didnt exist assume he would have just sold treasury ones instead.  Whatever's going on, he's obvious desperate for cash (when BTC rose sharply last few days thought he'd be in trouble as he'd been borrowing BTC to invest in something fiat).

[Peter Lambert]

This "growth shares" nonsense has to go.

We keep saying that, but I don't think Ian is listening.

[Justin00]

so how much you all get screwed over for this time ?

[MPOE-PR]

so how much you all get screwed over for this time ?

I guess about 500 BTC?

[nameface]

so how much you all get screwed over for this time ?

I guess about 500 BTC?

Even if he was a scammer, he'd figure something better out than stealing a few hundred coins before tanking his entire enterprise. Would he really sacrifice his reputation for such a small amount of money? Don't get me wrong, the money is significant, but someone who understands bitcoin as well as Ian, with a good reputation has way more to gain than a few hundred bitcoin. I seriously doubt Ian absconded with the money.