Lone Shark attempting to extort Bitcoin Cash from customers

[Lone Shark]

Not even sure why people are making a fuss about it. OP is not even a borrower of mine. Then ALL the borrowers who will be affect did not complain about it by the way. In a court case, this person, UFCkid, does not have personality to file the case as he is never privy to any contracts I had with my borrowers.

If anyone was allowed to file such a case then it was the borrowers who were affected by it. Again, to reiterate, no one complained about it even. I posted the change as well as sent them a PM about the change.

Also mind you all, that post was created before even the confirmation of the BIP 91. At the that time there was no guarantee that there would only be one bitcoin. As what I have read from Thymos' post about the possible splits, there could possibly be 3 bitcoins. Which one is the real bitcoin, there was no guarantee of that. So I asked them if they can pay up before August 1 with less than half interest per day. If someone had a problem, I did not hear anything about.

If someone wants to really open a legitimate scam accusation, please be a borrower first. Without being a borrower then this is pointless. Everything was contractual and nothing forced.

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[Joel_Jantsen]

Not even sure why people are making a fuss about it. OP is not even a borrower of mine. Then ALL the borrowers who will be affect did not complain about it by the way. In a court case, this person, UFCkid, does not have personality to file the case as he is never privy to any contracts I had with my borrowers.

You don't really understand how law works and let's not even go there.This isn't just about your service but also about your reputation as a forum member.Had your service been running outside of the forum,we wouldn't really bother.It also doesn't matter who opened the thread,as long as they make a valid case it's liable to be judged by the community.

If anyone was allowed to file such a case then it was the borrowers who were affected by it. Again, to reiterate, no one complained about it even. I posted the change as well as sent them a PM about the change.

That doesn't make you right ? The fact that you asked more money than you had lent shows the integrity of your service.Unlike Government laws,this forum is driven by the community to a large extent.

Also mind you all, that post was created before even the confirmation of the BIP 91. At the that time there was no guarantee that there would only be one bitcoin. As what I have read from Thymos' post about the possible splits, there could possibly be 3 bitcoins. Which one is the real bitcoin, there was no guarantee of that. So I asked them if they can pay up before August 1 with less than half interest per day. If someone had a problem, I did not hear anything about.

That doesn't explain much.Sounds irrelevant.The quoted post (in my previous comment) doesn't prove you were unsure about things.

If someone wants to really open a legitimate scam accusation, please be a borrower first. Without being a borrower then this is pointless. Everything was contractual and nothing forced.

Stop using borrowers as your defence.You know when they're in your debt and are likely to use your service again,they won't really speak against you even if you were wrong.

[Lone Shark]

Not even sure why people are making a fuss about it. OP is not even a borrower of mine. Then ALL the borrowers who will be affect did not complain about it by the way. In a court case, this person, UFCkid, does not have personality to file the case as he is never privy to any contracts I had with my borrowers.

You don't really understand how law works and let's not even go there.This isn't just about your service but also about your reputation as a forum member.Had your service been running outside of the forum,we wouldn't really bother.It also doesn't matter who opened the thread,as long as they make a valid case it's liable to be judged by the community.

If anyone was allowed to file such a case then it was the borrowers who were affected by it. Again, to reiterate, no one complained about it even. I posted the change as well as sent them a PM about the change.

That doesn't make you right ? The fact that you asked more money than you had lent shows the integrity of your service.Unlike Government laws,this forum is driven by the community to a large extent.

Also mind you all, that post was created before even the confirmation of the BIP 91. At the that time there was no guarantee that there would only be one bitcoin. As what I have read from Thymos' post about the possible splits, there could possibly be 3 bitcoins. Which one is the real bitcoin, there was no guarantee of that. So I asked them if they can pay up before August 1 with less than half interest per day. If someone had a problem, I did not hear anything about.

That doesn't explain much.Sounds irrelevant.The quoted post (in my previous comment) doesn't prove you were unsure about things.

If someone wants to really open a legitimate scam accusation, please be a borrower first. Without being a borrower then this is pointless. Everything was contractual and nothing forced.

Stop using borrowers as your defence.You know when they're in your debt and are likely to use your service again,they won't really speak against you even if you were wrong.

Again, this is a contract between the lender and the borrower, you all have not say in it. As it is a matter of agreement, if they did disagree, then there would have been an argument about it. But nothing ensued. Nobody said anything the time I posted that. And now everybody is making a fuss about it.

[UFCkid]

Um, how is this extortion?

In my opinion if i was the lender i would have done a similar thing. Because after all, logically speaking after the fork bitcoin cash + bitcoin would equal to roughly the value of 1 bitcoin before the fork. There could be a scenario where the price of bitcoin drops dramatically as a result of the fork, clearly it didn't happen this time but it is a possibility.

I'm sure that Lone Shark is financially secure enough and probably don't even care about 0.03 BTC or so.

He didn't threaten his borrowers, he simply asked them to either repay the loan or pay bitcoin cash + bitcoin, which they will get anyways.

Anyways he has waived all bitcoin cash repayments anyways, so if your agenda was really to help the borrowers then you already have seen your desired result. But i feel like you're just launching a personal vendetta on Lone Shark...

From the words of UFCkid, "perfectly worded"

After I posted that I will renounce the BCC (or BCH, whatever), he stopped replying here. Likely this guy is one my of borrowers that just don't want to pay that part. Note to that guy, next time just PM me. Every one of my borrower knows how considerate I am to them.

Some times sleep takes priority.
Lone Shark I am not a borrower. I got concerned about fellow forum members who are borrowers of yours. You do not operate in a silo here. You do not pay theymos commission on your lending business profits. What you do on this forum is open for all to comment and have a say. We are a community. Some of us take an interest when we feel others are being taken advantage of and stand up and have a say.

I do not know Joel. I am not Joel. But Joel has understood the issues I was addressing correctly. I see he took over where I left in trying to get the point across.
Thank you Joel.

Lone Shark, please re-read your post again and decide whether you gave your customers an option. Whether your change of terms were fair. Whether a debtor would have felt comfortable in speaking up against you if they disagreed with you. Your post was a poorly disguised threat to pay up with no real options. Just because you made the 1st line of the post large and in red didn't instil absolute authority in you.

!!! NOTICE TO MY BORROWERS WHOSE LOAN WILL BE DUE AFTER AUGUST 1 !!!

-----BEGIN BITCOIN SIGNED MESSAGE-----
Loneshark | July 20, 2017

This message is for a public announcement to my borrowers who have loans due after (or near) August 1, 2017.

Due to possibility of an impending soft/hard fork and possible splitting of the bitcoin network, I am informing my borrowers of a few things.

1. In case there would be a hard fork and the network splits into multiple blockchains (which means there would be multiple bitcoins), your loans will also be for multiple coins. (Ex. If you owe me 0.1 Bitcoins and the network splits into two resulting to having bitcoin1 and bitcoin2, you owe me 0.1 bitcoin1 and 0.1 bitcoin2.)

2. I will give an incentive of discounted interest (up to 50% off) to the people with loans due after August 1 to pay now or before August 1. Send me a PM and I will recompute your loan.

3. If in the event there would not be any splitting of the network, then the loan terms will remain the same.

4. If it does, however, you will still be liable to me for multiple coins as I have given you notice and ample time to settle your loans before August 1. You cannot say that after August 1 that you cannot pay the other coins, because your exchange or wallet only gave you one coin.

If I do not receive a response from you, I would assume you have agreed to the above terms about multiple coins.

Please be guided.

Thank you. Hoping for your cooperation and understanding

Cheers,
Lone Shark
-----BEGIN SIGNATURE-----
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-----END BITCOIN SIGNED MESSAGE-----

To verify message, please remove any bbcode tags.

Lone Shark, you went from the above position, to the following after I raised these issues-

Since I don't have time to argue with this asshole kid, UFCKid.

To those who have pending loans with me which is due after august 1. It is optional for you to pay the BCH.

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I did not make this thread in Scam Accusations, it was moved here by moderators.
I made this thread in Lending. The issues I raised were lending issues and I believe that is where this thread should still be. I have PM'd Cyrus requesting
"I would like the thread reinstated to Lending because it deals with the issue of lenders trying to charge borrowers both BTC and BCH in repayment of their BTC loans.

The thread covers lending issues and is not a scam accusation. I will change the thread title to make it more lending specific if you prefer.

This discussion needs to be had in the lending section as it applies to numerous situations."

It is up to Cyrus and moderators where this thread sits.

Lone Shark you must have accepted the points that have been made were fair, hence your change in position. And even if no borrower of yours had a problem with what you demanded, the raising of this issue was still valid and may help the next guy down the road. We all want this to be a fair community where members feel comfortable. Surely you can agree that too much crap goes on and people take advantage of others all the time. I do not know you and I am not trying to harm you. I am trying to protect this community.

Peace. May the Bitcoin serve you well.



p.s. Please remove the negative trust. It is unwarranted.

[UFCkid]

Um, how is this extortion?

In my opinion if i was the lender i would have done a similar thing. Because after all, logically speaking after the fork bitcoin cash + bitcoin would equal to roughly the value of 1 bitcoin before the fork. There could be a scenario where the price of bitcoin drops dramatically as a result of the fork, clearly it didn't happen this time but it is a possibility.

I'm sure that Lone Shark is financially secure enough and probably don't even care about 0.03 BTC or so.

He didn't threaten his borrowers, he simply asked them to either repay the loan or pay bitcoin cash + bitcoin, which they will get anyways[1].

Anyways he has waived all bitcoin cash repayments [2] anyways, so if your agenda was really to help the borrowers then you already have seen your desired result. But i feel like you're just launching a personal vendetta on Lone Shark...

Everything about your post is messed up. But I will try to explain-
[1] You are assuming they still had the BTC at time of fork and got BCH. What if they borrowed BTC to pay for urgent dental work for their grandmother with the intention of buying back BTC from her next government check to pay back the loan? With the demands from Lone Shark, they would now need to pay back more than agreed. Not fair and may not even be possible for grandmother.
[2] Lone Shark has NOT 'waived bitcoin cash repayments' which he had no ability to waive anyway. He did not state in his post that no BCH was due. He simply gave borrowers the option to repay BCH. Very different things.

Please keep borrowing from Lone Shark as you see fit. That is your rightful choice. And please comment in this thread as you wish, but please try to first get a full understanding of what is being discussed.

[onnz423]

Why are you guys attacking LS only? There are some other Lenders asking for BCC as well.
Well i think that, maybe it is unreasonable to ask for it if the customer asked no extension, but on my case for an example i asked for extension so i see that the right thing to do would be to pay BCC as well to the lender.
Lone Shark is the most professional and friendly guy, so i feel like he is getting too much shit while other get away without the drama.
On future the lenders might want to add something to their terms if something like this happens on future.

[aTriz]

Pretty sure that Loan Shark wouldn't do this, his account alone is worth more than a couple of Bitcoin cash. He has been running his services for a long time and if he wanted to scam some people, pretty sure he wouldn't do it for 10 cents on the dollar.

The people who are in debt only owe Bitcoin + the interest that the loaner charges, in no circumstance should you give out your Bitcoin cash unless the loan specifically said that you had to pay back the Bitcoin cash. Some loaners might change the terms so you can pay in Bitcoin cash, but otherwise you shouldn't touch your bitcoin cash for the loan.

OP didn't even borrow money of Loan Shark, whats the big fuss anyway.