[BitFunder] Ziggap Bitcoin Sales Service

[GoWest]

At the moment I don't have a solid ETA on when I'll be able to move forward but it's looking like 1-2 weeks.

Oh that's fantastic!  Two weeks is... April 17th?

My suggestion is that you get the cheap shares while you can.

Oh boy, oh boy, oh boy, buying them right now!

Things are wrapping up a bit sooner than I expected so ZIGGAP should be up and operational towards the early end of the time frames I quoted, if not sooner.

Even earlier than April 17th?  Awesome, good thing I bought those cheap shares...

...or not.

[1714882240]

1714882240

[romerun]

  or the owner has passed away.

[stereotype]

or the owner has passed away.

Was he struck by lightning, romerun? Such a shame he wasn't grounded!

[Logik]

Someone on OTC apparently did some work for him 4 days ago - maybe fixing the website?

http://bitcoin-otc.com/viewratingdetail.php?nick=aethero

CoJaBo   2   aethero   2013-04-16 03:43:37   1   Did some web stuff for him, he paid promptly. Great first transaction!

[TheSwede75]

Being a natural born moron/risktaker I am willing to buy a few shares if someone is selling. Of course at rock bottom prices, since I have no more info on the state of the company then anyone. (Also share holder in Crypto-Trade so I guess I'm just throwing BTC at whatever muppet venture I can these days). PM me if you are reputable member/owner and want to offload a few BTC worth of shares.

[danieldaniel]

Being a natural born moron/risktaker I am willing to buy a few shares if someone is selling. Of course at rock bottom prices, since I have no more info on the state of the company then anyone. (Also share holder in Crypto-Trade so I guess I'm just throwing BTC at whatever muppet venture I can these days). PM me if you are reputable member/owner and want to offload a few BTC worth of shares.

I have some BTCJam debt.  PM'ing you now.

[Logik]

Holy balls of jesus, the website is back up.

[Namworld]

Well aethero was well rated. Hope that's news whatever happened to him have gone better.

Glad to see the website is back. Hopefully he'll gives us some news soon and he can put everything back in order. Would have been silly to put a working business website in the dustbin.

[molecular]

Holy balls of jesus, the website is back up.

This is one of these moments when I'm thinking. Darn: It seems I was correct, why didn't I buy more

[Logik]

Holy balls of jesus, the website is back up.

This is one of these moments when I'm thinking. Darn: It seems I was correct, why didn't I buy more

Heh, me too. At least I held, and didn't panic sell. But now I'm dreaming of that '5 zero' ask list

Ziggap, BtcQuick and BitPride all seem to have recovered a little. We need a name for them.. the three musketeers? The three ugly sisters (ok that one's a little mean )

[strello]

Holy balls of jesus, the website is back up.

This is one of these moments when I'm thinking. Darn: It seems I was correct, why didn't I buy more

Heh, me too. At least I held, and didn't panic sell. But now I'm dreaming of that '5 zero' ask list

Ziggap, BtcQuick and BitPride all seem to have recovered a little. We need a name for them.. the three musketeers? The three ugly sisters (ok that one's a little mean )

3 Ugly ducklings?

[TheSwede75]

The three horsemen of the Bitpocalypse? An alive website, does not a working company make.

[romerun]

would be nice if we can hear from ziggap a bit of the current situation and the future plan

[danieldaniel]

would be nice if we can hear from ziggap a bit of the current situation and the future plan

Uh, let me ask you this:
Would you want to buy BTC from a website that disappears for 2 weeks at a time?  That just stops paying dividends?

IMO, it doesn't matter that the website is up.  ZigGap is over at this point.

[novusordo]

would be nice if we can hear from ziggap a bit of the current situation and the future plan

Uh, let me ask you this:
Would you want to buy BTC from a website that disappears for 2 weeks at a time?  That just stops paying dividends?

IMO, it doesn't matter that the website is up.  ZigGap is over at this point.

It's highly unlikely that Ziggap is "over". Bitfloor has closed this past week, Coinbase is having issues, and BitInstant is in dire need of competition. If it comes back to life, Ziggap's future looks quite bright, actually.

[Deprived]

would be nice if we can hear from ziggap a bit of the current situation and the future plan

Uh, let me ask you this:
Would you want to buy BTC from a website that disappears for 2 weeks at a time?  That just stops paying dividends?

IMO, it doesn't matter that the website is up.  ZigGap is over at this point.

It's highly unlikely that Ziggap is "over". Bitfloor has closed this past week, Coinbase is having issues, and BitInstant is in dire need of competition. If it comes back to life, Ziggap's future looks quite bright, actually.

You're living in cloud cuckoo land.

Remember that Aethero has a personal commitment to repay the BTCjam loan.  Yet his finances were so dismal that he had to sell shares of the company into tiny bids to raise a few BTC.  You think he did that whilst Ziggap had hundred of BTC sitting around?  Seomehow he managed to raise the funds to pay off last month's BTCjam payment - but where's the next one coming from?  Do you really believe this was down to some personal emergency?  If so, I suggest you look at when he started selling shares - it was NOT when he vanished, it was earlier.

Do you honestly believe a lightning strike took out his laptop - in the process somehow removing his ability to regain his password here - and also jumped down his Internet connection and took the website down?  Did you miss that ZIggap actually logged in but didn't post whilst he was saying on irc he needed to recover his password?

Here's what I had to say about it (to investors in my fund) BEFORE he showed up or commented at all (we had shares in it):

ZIGGAP

A money-exchange website that clearly had serious problems and financial incompetence from the start.  I've traded it pretty profitably for us previously - that someone is doomed isn't a reason not to trade it, just a reason to get out of it in time.  I got the timing wrong on this.  My calculations had indicated that the shit wouldn't hit the fan for them until at least mid-April.  I was wrong - clearly there were non-visible factors I hadn't factored in (e.g. some share-sales were faked so didn't raise capital, they had other undiclosed debts etc).

This week someone dumped shares at tiny prices - including a good sized bunch into our orders.  On quick investigation it was obvious it was the asset issuer.  Their website had been non-functional for much of the week (unfortunately I hadn't realised this) and they missed a dividend payment at around the time of the dump.  Dumping those shares was totally against the contract - which specified a minimum price for further shares to be sold at.

Issuer has logged in since but not posted.

The main reason our profits are depressed this week is because I applied a very large write-down on the value of these shares.  The price hasn't totally collapsed yet - Asks are still well above what we paid, let alone what they're now marked down to.  I would have written them down even further were it not for the fact that the website is now back up and functional and there's some signs of life.  I don't believe this company will be viable as an investment (there's structural faults in their plan and a total lack of understanding of exchange-rate risk/mitigation) - but if they make ANY sort of positive announcement there'll be enough idiots around for us to get rid of our remaining holdings without further lossm probbaly at a profit to current book value and quite feasibly at a profit to what we actually paid.

Without the write-down of these, we'd have been up around 6-7% this week.  If the issuer totally fails to return then profits will be reduced again next week by writing them down to near zero.

I'm less inclined to dump these for cheap as I did with the Bakewell ones - as issuer has some credibility in the community which they'll likely exploit to delay their collapse (and allow us to exit with profit).  I expect some vague announcement about unspecified problems which are being resolved and an assurance that everything will be OK : which should generate enough Bids for our purpose.

Note the bolded sentence at the end - which is a pretty accurate depiction of what actually happened.

[josh4580]

Deprived,

Just from reading these boards, it seems you are involved with too many scam companies.

I would say 98% of the companies listed are scams.

Be careful.

Right now I am just invested in ASIC MINER because I cant find any other non scams out there. 

Thoughts?

[Deprived]

Deprived,

Just from reading these boards, it seems you are involved with too many scam companies.

I would say 98% of the companies listed are scams.

Be careful.

Right now I am just invested in ASIC MINER because I cant find any other non scams out there. 

Thoughts?

Depends what you mean by a scam.

I'd say majority of companies (including this one) didn't start off with any intention to scam or defraud investors.  Most fail because of gross incompetence.  People believing they can run before they've properly learnt how to walk.  People exaggerating things to sell shares (take a look at OP for this one - he claims a dedicated team of professionals yet soon as problems start he's whining about it being a one-man operation).

As I run a fund that trades, and as the majority of companies are badly run I have no option but to trade in them.  Whilst trading doesn't have the same degree of exposure as investment (I don't EXPECT them to make a profit for me - my profit comes from their investors) I do necessarily have exposure when a company suddenly gos bad (more accurately, when it suddenly becomes visible to everyone that it's bad - most were rotten inside from the start).  I have to manage that risk - which so far I've done OK at.

There's other non-scam businesses out there besides ASIC-MINER.  Most will make a loss for you if you invest long-term, but they'll do so (fairly) honestly if that's any consolation.  And don't forget ASIC-MINER was a gamble when it started - there was a significant chance they'd be late/never to market.  That ASIC-MINER has done so well is largely down to the total incompetence/deceitful behaviour of two of their main rivals.

[danieldaniel]

Deprived,

Just from reading these boards, it seems you are involved with too many scam companies.

I would say 98% of the companies listed are scams.

Be careful.

Right now I am just invested in ASIC MINER because I cant find any other non scams out there. 

Thoughts?

Depends what you mean by a scam.

I'd say majority of companies (including this one) didn't start off with any intention to scam or defraud investors.  Most fail because of gross incompetence.  People believing they can run before they've properly learnt how to walk.  People exaggerating things to sell shares (take a look at OP for this one - he claims a dedicated team of professionals yet soon as problems start he's whining about it being a one-man operation).

As I run a fund that trades, and as the majority of companies are badly run I have no option but to trade in them.  Whilst trading doesn't have the same degree of exposure as investment (I don't EXPECT them to make a profit for me - my profit comes from their investors) I do necessarily have exposure when a company suddenly gos bad (more accurately, when it suddenly becomes visible to everyone that it's bad - most were rotten inside from the start).  I have to manage that risk - which so far I've done OK at.

There's other non-scam businesses out there besides ASIC-MINER.  Most will make a loss for you if you invest long-term, but they'll do so (fairly) honestly if that's any consolation.  And don't forget ASIC-MINER was a gamble when it started - there was a significant chance they'd be late/never to market.  That ASIC-MINER has done so well is largely down to the total incompetence/deceitful behaviour of two of their main rivals.

ZigGap is made up of aethero, his wife, and a programmer (at least when I left).

[josh4580]

Deprived,

Just from reading these boards, it seems you are involved with too many scam companies.

I would say 98% of the companies listed are scams.

Be careful.

Right now I am just invested in ASIC MINER because I cant find any other non scams out there. 

Thoughts?

Depends what you mean by a scam.

I'd say majority of companies (including this one) didn't start off with any intention to scam or defraud investors.  Most fail because of gross incompetence.  People believing they can run before they've properly learnt how to walk.  People exaggerating things to sell shares (take a look at OP for this one - he claims a dedicated team of professionals yet soon as problems start he's whining about it being a one-man operation).

As I run a fund that trades, and as the majority of companies are badly run I have no option but to trade in them.  Whilst trading doesn't have the same degree of exposure as investment (I don't EXPECT them to make a profit for me - my profit comes from their investors) I do necessarily have exposure when a company suddenly gos bad (more accurately, when it suddenly becomes visible to everyone that it's bad - most were rotten inside from the start).  I have to manage that risk - which so far I've done OK at.

There's other non-scam businesses out there besides ASIC-MINER.  Most will make a loss for you if you invest long-term, but they'll do so (fairly) honestly if that's any consolation.  And don't forget ASIC-MINER was a gamble when it started - there was a significant chance they'd be late/never to market.  That ASIC-MINER has done so well is largely down to the total incompetence/deceitful behaviour of two of their main rivals.

I see so you are trading more than investing.  Well that is certainly different than what I am doing.

Wish you luck.