BDK & BDK.BND unit-holders -- Claims/Payment Status

[Kluge]

Update: On December 28th, I received a list from Nef. Please scroll to post 7 or check your inbox for more details. I will not be posting further information publicly. Please email me for more information.



There is nearly zero chance of Nefario releasing anything this far in the game. I will thus be implementing a "best guess claims system."

YOU MUST FILE CLAIMS ON OR BY JANUARY 28th, 2013 TO BE PAID BACK. CLAIMS YOU FILE WITH GLBSE ARE NOT FORWARDED TO ME. IF YOU MADE A CLAIM ON GLBSE, YOU MUST ALSO FILE A CLAIM THROUGH MY OWN PROCESS. CLAIMS WILL ALL BE PROCESSED ON JANUARY 28th, 2013. A PROMISSORY NOTE WILL BE PROVIDED IF I CANNOT IMMEDIATELY PAY EVERYONE BACK IN FULL. (for tl;dr, see text in blue for info on how to file)

I've come up with a "guess" system which will definitely not be perfectly just. However, I think it will help in getting the most units into rightful owners as possible. It relies on the following:
*Remembering your username from previous sales/trade transactions.
*Reputation. If you don't post on the forum much, you might want to include another member's name who'll vouch for you and has a solid track-record.
*How many units have been claimed. If 19k units exist and there are claims for 25k units, I need to go back and re-evaluate.

At least two of those conditions to be met satisfactorily, and they're obviously vague because I don't have much to go on less my memory. If you went for the voluntary BDK buyout a few months ago and wanted BDK.BND units instead of BTC, please let me know that in your claim and I can look it up in my emails.


Finally, keep in mind the following:
*I am not taking responsibility for dividends I paid which were lost on your GLBSE account if Nefario failed to pay you.
*BDK.BND is still in default, and aside from paying what I have now, immediate and full repayment likely won't occur as soon as the claims process is done, but I'll be writing up promissory notes for everyone.
*I don't consider an image showing your name on GLBSE with 5000 BDK.BND units as solid evidence, but it'll be taken into consideration. Any evidence you have, please include it with your claim.
*Interest will not begin accruing on BDK.BND debt again until I have processed claims.
*Should you want USD instead of BTC, lemme know how you'll want it. I can also pay in home-rolled cigarettes immediately if you pick 'em up in Southern MI. They get shaken up too much when shipped. Have quite a few varieties of tobacco and filters, and a fairly large SHTF stock.  

To make a claim, please fill out this form and send it either to the email address associated with the key at the bottom of this post, or just PM me if you don't worry about third-party interception as much. When I initially wrote the instructions, I was much more worried about having not been contacted by the SEC like everyone else, but feel more calm, now. (but you should probably still encrypt...)

Code:

GLBSE username:
# of BDK units you own:
# of BDK.BND units you own:
GPG Public Key (if not signed):
Non-Throwaway Email Address (if not associated with key and you used a throwaway address to send from):
BTC Address to Receive Payouts:

Use this to encrypt messages:
-----BEGIN PGP PUBLIC KEY BLOCK-----
Version: GnuPG v2.0.17 (MingW32)

mQENBFB2TfYBCADNLBAjzBH0CChkaNawrDgDXK1B0RPAqK/59DAu1u/lESlL940b
kX2co0j6AwRuoy54XSWHJntIoOn0nqn2e90YKh6ysmNwORA1bzhzqktF+aMdPqBs
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bwL0FdeOGXTcASqpP6iQVsLPH/aww8YK
=WpYQ
-----END PGP PUBLIC KEY BLOCK-----

[BDK.BND information, for reference]
Bonds Issued: 19590
"Hard Debt": (19590*.92139)= 1805BTC
"Soft Debt": (1959*.093139)= 1824.59BTC
Current bond value @ "lock in" rate (this is the amount I claim I am liable for assuming interest does not accumulate after the date I announced default): 0.092139BTC/bond
Current bond value @ "compounded" rate (this is the amount I claim I am liable for assuming interest DOES* accumulate after the date I announced default): 0.093139BTC/bond
*"soft debt" or "compounded debt" accumulates interest only on Mondays where I have the possibility to repay. It does not accumulate interest while I do not have access to repay bond-holders, such as when GLBSE is down and I do not have ability to repay unit-holders.

[BDK information, for reference]
*Units Issued: 3419? (Most were traded for BDK.BND units or BTC during the voluntary buyback period. Number's a bit of a guess based off the numbers I had written down in September.)
*Negative Equity Provision: "BDK is permitted to operate while having negative equity so long as BDK has not had negative equity for 90 consecutive days. On the 90th day of having negative equity, the operator will be held personally liable to pay shareholders $.10/share (or ฿.02/share, whichever value is lesser). In cases where BDK is unable to achieve due to reasons unrelated to BDK experiencing prolonged negative equity (operator experiencing imprisonment, debilitating illness, GLBSE being hacked and made unusable, EMP strikes, police raid, or death, for example), the operator is not liable."
*Negative equity was announced on September 10th, 2012. The provision will technically go into effect and provide a $.10/unit or ฿.02/unit payment on November 26th, 2012, but will actually go into effect when claims are processed due the what's happened with GLBSE.
Bond Value (will be calculated by gox24Havg at time of claims process): $.10/unit (roughly .0086BTC/unit at $11.6/BTC)
Total Debt Guesstimate : (3419*.0086)=~29.474BTC

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[Kluge]

Derp. Thanks memvola.... Due date is not January, 2012. :x

I am willing to and have debts settled immediately for people I'm familiar with in exchange for a discount, fwiw. Have ~75BTC left on-hand. So lowest bidder until I get more funds or January 28th, when everyone'll get a fixed repayment schedule, fixed interest rate, debt acceleration provisions, and other stuff I'd expect if lending to some chump on the Internet.

Just an extra note, fwiw - if I deny a claim, which I haven't done yet, it's not some "permanent" denial. Even if it's past the due date, you can appeal, which'll probably just mean getting someone I trust to vouch for you.

[Kluge]

Thanks to stochastic's GLBSE history in .csv format, if you have an up-to-date .csv of your account history to submit with your claim, that can now be verified and considered hard evidence.

The list does not verify who owns what, but allows me to match data in your .csv to what's in stochastic's .csv so I know your .csv hasn't been modified.

[Bitcoin Oz]

Thanks to stochastic's GLBSE history in .csv format, if you have an up-to-date .csv of your account history to submit with your claim, that can now be verified and considered hard evidence.

The list does not verify who owns what, but allows me to match data in your .csv to what's in stochastic's .csv so I know your .csv hasn't been modified.

Where do I get a copy of stochastic's csv ?

[Kluge]

Thanks to stochastic's GLBSE history in .csv format, if you have an up-to-date .csv of your account history to submit with your claim, that can now be verified and considered hard evidence.

The list does not verify who owns what, but allows me to match data in your .csv to what's in stochastic's .csv so I know your .csv hasn't been modified.

Where do I get a copy of stochastic's csv ?

https://dl.dropbox.com/s/8f1j19jbsa84ans/_historyGLBSEraw.csv?dl=1

[Kluge]

Second-to-last bump. Everyone who did the BDK->BDK.BND trade was PM'd afaik, and over half of BDK.BND units are claimed, now, but still a ways to go.

Those with a claim are included in a BCC email list which goes out every 1-2 weeks. If you'd prefer not being on that mailing list, please say so in your claim.

Additionally.... Since I still have no list from Nef, it's critically important you share a trade history .csv with me if you managed to grab one from GLBSE. If you don't have it, this process may be more complicated than either of us'd like if you don't have solid "proof of reputation."

[Kluge]

Unit-holders should now all be aware that I received a list a couple nights ago. Most have received... probably at least 2 emails (and up to 4) from me in the past 48h, and another's slowly making its way to everyone's inbox, that being a confirmation of BTC address and number of units owned from Nef's list.

These are being done by hand, and likely contain errors (I already noticed I forgot to paste in the subject line on one person's email). Definitely double-check with me if there are factual errors. If you haven't received ANY emails from me but have evidence of owning shares, please contact me. Nef's list is 100% complete, though it lacks a few BTC addresses (luckily, though, it contains email addresses for me to reach those people).

On the current round of emails, all of which need to be sent individually, I'm about 1/4 the way done and taking a break, so don't get too distraught if you don't get an email confirming your BTC address and # of units held by the end of today. It'll likely take me tomorrow, too, with this piss-poor Internet connection. ETA: ~Halfway done, now, but taking a break until tonight.

I'm intending for a payment plan to be released at least a week before the claims deadline on the 28th. I doubt it'll make many people very happy, but it's progress. 

-Ben

P.S. Sorry if anyone's annoyed at how many emails I'm sending, but I've had to send different information out to different groups. BDK information goes only to BDK-holders, while BDK.BND information goes to only BDK.BND holders. Then there's the group of people with no BTC address on file, and the group of people who filed claims with me prior to me receiving Nef's list, who had their own ID codes from me which I can't use with Nef's list. Those in multiple categories probably hate me for email alert sounds going off at all hours of the day by now, but I have already received requests for their individual info, and I just want to make sure everyone's fully-informed. Most people should only see two more emails from me this month. One going over the repayment plan, and the other notifying of a payment on the 28th (and yeah, because of the grouping, it's possible some people will receive an extra email because they own both BDK and BDK.BND).

P.P.S. It's possible some people who own both BDK.BND and BDK will also receive two emails in this set. I tried to memorize the list of email addresses on the much-shorter BDK list, but it's possible I forgot some when going through the BDK.BND list. Don't be alarmed if you owned both, but get an email saying you own 0 units of one unless a couple days have gone by and I haven't sent you an email showing you own x amount of the security I previously said you owned 0 of, but then say you own 0 units of the security I originally said you own x of. For example, if you see:
BDK owned: 0
BDK.BND owned: 100

in one email, then in a later email,
BDK owned: 100
BDK.BND owned: 0

That means I have it on file that you own 100 units of both BDK and BDK.BND, but made a minor error. I'll still be paying on both sets of units and you shouldn't worry too much over it (less maybe over my competency ).

P.P.P.S. Sorry - last note... In Nef's list, there are sometimes two entries for a single person. I assume this is because they had units in different sub-accounts, so again... if I send you multiple emails with unit numbers in it, assume I know you own the sum of all units I list in the emails. I'll be fixing the lists before sending payments out.

[Kluge]

All unit-holders should now have a list of how many units they hold in their inbox. PM me if you don't have said email and believe you should.

[Kluge]

Someone messaged me a month or two ago about changing their email address on-file because their provider shut down after the FreedomHost/etc nonsense. I skimmed the list and noticed some others have similar email service providers. Two emails and a payment were sent out a few minutes ago, so if you do own BDK.BND units and were wondering why BTC showed up in your wallet - that's why. Lemme know if you'd like me to change the email address I'm using for you. It's no hassle.

[Kluge]

More and more emails are being sent back by specific anon email hosts.

During the second half of 2015, there will be a "pulse check." Basically, in the middle of the year, I'll be sending out an email separate from the normal monthly payment confirmation email. It will ask unit-holders to respond to the email. Each month after the first time it's sent out, I'll continue spamming the email addresses which didn't reply each month until it's 2016. Starting with the January 2016 payout (made on December 31st, 2015), everyone who didn't respond to the email will be purged from the payout list.

The goal is to not pay dead people unless there's fair reason to believe beneficiaries control the address on file. The reason for this goal has three sub-goals:
1) I'll be pretty annoyed if it turns out I'm paying a significant sum of money to what amounts to a black hole, but the annoyance would be much more grating if I continued paying to a black hole.
2) A decrease in units on the payout list increases per-month payouts to units still on the list since the amount paid per month is static and simply divided by outstanding units.
3) The current default debt is 1383.8357BTC. Given initial settlements and monthly payments have drained my reserve balances to practically nothing, pulse checks are likely the only way to make that payable in my lifetime.

After the 2015 pulse check, the next pulse check will occur at the end of 2020, then at the end of 2025, then at the end of 2030, etc until I die (or am incapacitated) or the debt's paid off.


As a side-note for anyone no longer in the loop: I was hoping to have decent info on how someone could do a tax-reducing write-off of the debt, at least in the US. This was possibly attempted by up to two people in the past year (one in US, one in Aus), but I haven't been able to get info on how the process would look, technically, so still can't provide useful advice on the matter. I do have a "document bundle" email I can send to you if you'd like to attempt it, which tried to prove all of the essentials needed for a crypto-savvy tax professional to successfully make the claim.