[BitFunder] Ziggap Bitcoin Sales Service

[ThickAsThieves]

I just sold all my shares at a massive loss.  I'm going to go out on a limb and assume this company is insolvent.  No other excuse for what they've done.

Calling it. Time of death 10:12PM EST.

[Choadzilla]

eagerly awaiting aethero's return

[Shermo]

so... ziggap is returning soon?

[novusordo]

I just talked to ziggap, and they had a couple pieces of hardware go down.  They made good on a payment to me today for $1400 (not related to ziggap directly), and last weekend WAS Easter.

I expressed your concerns and I'm told they will be taken care of by end of business Wednesday (if not sooner).

-EP

Only a few hours left of Wednesday.

[ZIGGAP]

so... ziggap is returning soon?

Yes we are.

ZIGGAP is not dead.

This is a temporary situation.

I have not taken anyone's money, I have not run away, ZIGGAP is not insolvent, and I plan to resume operations as soon as possible.

I sincerely apologize about the sudden lack of communication. A combination of hardware failure and emergency personal family issues has resulted in the current situation.
ZIGGAP has practically been a 1 man operation. If something happens which results in that 1 man being indisposed the entire business is unable to function which is what is happening now. This is unacceptable to me, and anyone else who has a stake in ZIGGAP's success. Steps will be taken to remedy this so it doesn't occur again.

Proof that the company has not dumped any of it's shares can be provided upon request. I sold a few of my personal shares - I needed the funds because of the same personal issues. I have never and would never use company funds or assets for personal reasons and that has not happened.

Most likely the issues which have resulted in my absence will be resolved sooner rather than later. I will bring the site back up, resume normal operations, and bring in additional person(s) in order to prevent something like this from occurring again. I was actually seeking a partner for this venture at the time I had to take the site down.

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. This is not set in stone and if my situation changes I will let you know as soon as possible. My suggestion is that you get the cheap shares while you can.

If you are a ZIGGAP asset holder and want to know about the personal issues please feel free to send me a private message. Please include proof of your holdings.

Thanks,

-aethero

[Shermo]

Thanks for the update aethero, sorry to hear you are suffering from some serious personal issues. I hope that you/your family are OK again soon and that you can find someone to help manage Ziggap with you so it can become a great trading platform as it's shown a lot of promise so far

[ahdinosaur]

thanks for the update aethero. glad to see you're still alive and can't wait to see the site back up and running. good luck with your adventures.

[Choadzilla]

thanks for your clarifications

[VJain]

Thanks for the update! And thank you to everyone who sold at dirt cheap prices .

[danieldaniel]

Here's what I know, in summary format:
His BTCJam loan is 5 days overdue.  The payment that is due is around $15.4k (as of now).

He was on IRC yesterday but didn't really say anything useful.  He's currently MIA on IRC.  Usually, he idles on there 24/7.

I used to work for ZigGap.  I'm not going to say exactly how many shares he owns, as I don't think it's public information, but it's a pretty fair amount.  Less than half, but more than a fifth.

When I worked at ZigGap, I don't think there was more than 15-20 orders a day.  I'm not sure how much he makes on that, but considering all the downtime, and the dividends he pays, is that even ENOUGH to pay back the loan every month?  

I have no idea if this rumor is true.  I do know, however, that his site is down AND his loan is 5 days overdue.  I also know that he usually makes dividend payments every Thursday.  He hasn't made one this week.  I ALSO know that his site has been down for the past couple of days.

All of this, added together, really seems suspicious.  I have a feeling that he might have ran.  I don't think that he did this to scam us, but because he didn't have another choice.

HOWEVER:  There is a REALLY good chance that this is all some misunderstanding.  Don't lose hope yet!

Got the payment!

[GoWest]

A pretty website does not a good business make.

The fact that the second and third dividends were both exactly 10 BTC tells me that he was just paying out a dividend to keep the shareholders quiet, not because ZigGap had actually made any money. I've seen this strategy before with other, now defunct, Bitcoin ventures.

Since the BTCJam loan is overdue, it's only further confirmation that ZigGap is broke.

I sincerely hope that nothing tragic happened to him, family wise, but I know if I was trying to hide from my creditors I would use the family excuse because it's not socially acceptable to question someone's claims when it comes to unfortunate family matters. Even I have to tread carefully while typing this out, lest I be criticized as an inconsiderate bastard.  

The lightning excuse is only icing on the cake; I had to laugh at that one.  

[stereotype]

A pretty website does not a good business make.

The fact that the second and third dividends were both exactly 10 BTC tells me that he was just paying out a dividend to keep the shareholders quiet, not because ZigGap had actually made any money. I've seen this strategy before with other, now defunct, Bitcoin ventures.

Since the BTCJam loan is overdue, it's only further confirmation that ZigGap is broke.

I sincerely hope that nothing tragic happened to him, family wise, but I know if I was trying to hide from my creditors I would use the family excuse because it's not socially acceptable to question someone's claims when it comes to unfortunate family matters. Even I have to tread carefully while typing this out, lest I be criticized as an inconsiderate bastard.  

The lightning excuse is only icing on the cake; I had to laugh at that one.  

You put the family issue conundrum very well. Tis, and always will be taboo, which is the attraction of use, of course.

The lightning tosh has kept me entertained for a while. I appreciate that being electrically qualified does not allow that person to fully understand the physics of lightning, but i can tell you, there's every physical reason why a laptop (and its hard drive) cannot be fried, plugged in or not, unless your sitting under a tree with it. Im fascinated to know what else got fried??

[novusordo]

Just received my loan payment on BTCJam.

[Shermo]

Just received my loan payment on BTCJam.

Me too Given that it has always been early before, its not the end of the world that it was a few days late. Hopefully the Ziggap website will be back up and running again soon

[danieldaniel]

Just received my loan payment on BTCJam.

Same.

[ZIGGAP]

I'm at home. 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. A few things are still up in the air. I will update when I can.

[Namworld]

I'm at home. 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. A few things are still up in the air. I will update when I can.

Good to hear. There should definitely be a second person to process things, just in case. People are buying bitcoins en masse right now. Would be great to have ZIGGAP online.

[Choadzilla]

What exactly was that timeline?

[Namworld]

1-2 weeks since the 3... so 10-17 April. Guess we're at the end of it without news. Would be sad to see Ziggap go.

[danieldaniel]

1-2 weeks since the 3... so 10-17 April. Guess we're at the end of it without news. Would be sad to see Ziggap go.

He also hasn't paid dividends from what I've seen.

He owes me money on BTCJam .