[BitFunder] Graet.Loan - Paying 0.05% interest daily

[BitHub]

about 20mins ago.

03:59 < VanCleef> https://bitcointalk.org/index.php?topic=218324.0
03:59 < VanCleef> people are waiting
04:00 <@Graet> yep, and i'm waiting on peopke


only update so far.

[MilkyLep]

Sounds like a tactic to get you off his back for the time being. No offense.

Abandoning this thread isn't the responsible thing to do. His little one line jab on IRC could just as easily be written here himself.

[Bananery]

He's is waiting for other people who owe him. That means he lied in his contract.

[pheaonix]

He's is waiting for other people who owe him. That means he lied in his contract.

yerp, i got pretty screwed because of the lies. thanks again graet.

[BitHub]

i'm surprised he didn't come here and give an update, he would rather argue with me for 30minutes in #bitcoin-aus than just give an update on here.

I told him about 5 times yesterday to come here and give an update.

[Bananery]

i'm surprised he didn't come here and give an update, he would rather argue with me for 30minutes in #bitcoin-aus than just give an update on here.

I told him about 5 times yesterday to come here and give an update.

He lied in his contract and is ashamed of that. So he prefers silence. I think he will give an update only when he has the money to pay both dividends and redeems. Which will be summer 2014, if we're lucky.

[Bananery]

Graet is an honorable man.

No, an honorable man wouldn't lie in his contract.

Graet lost his sources of BTC revenue

If he didn't lie in his contract where he said this loan is not tied to the success or failure of any business, then he would be an honorable man.

Back in October when the BTC exchange rate was a bit over 200USD, I wrote this.

So, stop paying dividends, sell as much as you can what you own, I don't care what you, just redeem as much as possible as fast as possible. I'm prepared for no dividends and less than face value rather than dragging this into 2016, when we'll lose almost 100% of our investments.

I was totally right, every second counted. But he was spending his time on holidays, no worries. At the same time he says, his portfolio lost most of its value. No honorable man with so much of other people's money, 2000BTC, would let that happen.

An honorable man wouldn't hold any extremely speculative, risky, overvalued bitcoin assets if he had other people's coins.

An honorable man wouldn't issue this kind of loan without 100% BTC collateral in the first place.

[Bananery]

The events that followed which ere not under his control have surely put him in that financial state.

This is not true. His portfolio of BTC securities was valued at around 1k in bitcoin in July. His physical assets were valued at more than a hundred thousands of dollars. His BTC income was over 30BTC a month.

The only reasonable thing for an honorable man to do at that moment would be to sell as much as was needed to redeem all 2000BTC. He could have redeemed all his bonds at that time. Instead he gambled with our bitcoins by keeping his extemely speculative bitcoin securities believing those securities would go up even higher.

I know it was stupid to lend in BTC, so I learned my lesson. Others who have these bonds probably learned it too. You don't have to tell us that.

The fact that Graeme lied in his contract is true. His behaviour and actions show how irresponsible he is towards his debtors. I always paid my debts the first chance I got, that's the only honorable thing to do. He had a chance to redeem 100% of BTC in the summer, he didn't do that.

Graet is not honorable or responsible.

[Graet]

Dear graet.loan holders,
Firstly I would like to apologise for my lack of communication - I have found this to be a very trying time.

Despite the ongoing FUD campaign I have not "run off", do not have health issues and have not "cashed out all the BTC", I am still working toward the goal of having most of graet.loan paid off by mid 2014 including any owed interest.

graet.loan was started to consolidate loans from community members after Ozcoin was hacked, give an easy management platform and provide some liquidity for my Bitcoin businesses. This was working well until changes at BitFunder were announced 2 hours after I left for a family holiday (my wifes first holiday in 5 years) by the time I got home 5 days later my portfolio had lost over 500BTC value and I had a list of redeem requests.

Current situation:
Ozcoin Bitcoin Pool has gone from over 10% of the network to under 0.05% over the last few months due to various and ongoing attacks that have disrupted operation and scared off miners - we need to build it back to at least 5% of the network.
Invested in a startup before Bitfunder issues, currently finishing legals moving to beta after New Year.
CrownCloud continues to bring a growing profit every month, planning to expand operations after New Year.
violence will not get coins,
litigation forcing me into bankruptcy will result in a minimal return for unsecured investors,
being patient and allowing me to continue and grow my Bitcoin businesses while still aiming to return the bulk of great.loan by mid 2014 will give investors the best return.

Best Wishes
Graet

[szmarco]

Mid 2014, OK for me.

[lunarboy]

Thanks for checking in Graet, this will hopefully stem the constant flow of FUD. 

any news on the moving the interest payments direct to loan registered addresses? It would be fantastic to see something coming in even if you decide to switch to weekly payouts.

[joris]

Thanks for the update, much appreciated, and keep an eye on yourself.

Let the new year fireworks chase the bad luck spirits of 2013 away.

[DoloresMaze]

Dear graet.loan holders,
...
Best Wishes
Graet

Where do I send my money to invest in this loan?  I'm 12 and this looks really good.

[TurdHurdur]

Yeah, mid 2014 with interest is fine. Some people just like seeing you're alive here. Have a good new year.

[ru0chen]

Thanks for you reply, and I want to know how would you deal with the interest of graet.loan?

[Bananery]

Graeme is irresponsible, very bad decision making person. He basicly gambled away our bitcoins by buying super risky BTC securities. The fact is that he could have redeemed all 2000BTC in July and none of this would have happened. He is not denying it because it's true.

Even in October he had a chance to repay most of the debt by doing exactly what I requested. Sell everything he had and buy bitcoins. At that moment it still was 200 dollars for one bitcoin. He would have got over 1000BTC easily by selling all his physical assets and his FIAT businesses and probably around 500BTC by selling his BTC securities in October.

Even as late as the end of October he could have saved his face, paid most of the debt and probably still managed to keep his BTC business Ozcoin. On 23rd of October I wrote what he had to do. If it was up to me, that's what I would have done. Too bad he didn't listen.

I think Graeme is still extremely incompetent, irresponsible person, he never learns. Because he still makes the worst decisions. He keeps investing our BTC into FIAT businesses. The worst and most stupid thing to do is to take bitcoins you owe, convert them into FIAT and invest into a FIAT business. No FIAT business can ever provide returns that simply keeping bitcoin gives. For 2013 the return is around 7,000%. For 2014 it's very possible it'll be again over 1,000%.

How exactly are you coming up with summer 2014 Graeme? What is the exchange rate you use in your calculations Graeme? Are you making assumptions that it will stay at 1000USD per bitcoin until the mid of 2014? Like every time you give us estimations, you assume the best outcome for you? I asked this before and I ask this again, what if it will be significantly higher?

It looks like Graeme already fucked so big it's too late to expect full redemptions and dividends. Do you understand that if I would have forced you into bankruptcy in October it would have turned out better for everyone, including you Grame? Do you understand Graeme that unless a miracle happens you will be forced into bankruptcy? Do you understand that the sooner you'll go bankrupt the more you pay out to your debtors because of the ever increasing price of BTC?

Another thing Graeme always lied about is his BTC businesses. He never had businesses, there was just one, ozcoin. Every single other business of his is FIAT.

So think good what you're going to do Graeme. The sooner you start redeeming the bonds the better for you and everyone else. Forget about dividends. If a miracle happens you'll pay dividends later after redeeming.

Just buy back as much as you can as fast you can. I mean that literally, every second counts. That's what I said to you in October. That's what I say to you now.

[thecoinjournal]

Thanks for you reply, and I want to know how would you deal with the interest of graet.loan?

Will there be a portal?

[ru0chen]

Who can tell me where is our interest of Great.loan? It seems no bonuses for two months!

[Djingis]

Who can tell me where is our interest of Great.loan? It seems no bonuses for two months!

Everyone is asking for it 

Dear graet.loan holders,
Firstly I would like to apologise for my lack of communication - I have found this to be a very trying time.

Despite the ongoing FUD campaign I have not "run off", do not have health issues and have not "cashed out all the BTC", I am still working toward the goal of having most of graet.loan paid off by mid 2014 including any owed interest.

graet.loan was started to consolidate loans from community members after Ozcoin was hacked, give an easy management platform and provide some liquidity for my Bitcoin businesses. This was working well until changes at BitFunder were announced 2 hours after I left for a family holiday (my wifes first holiday in 5 years) by the time I got home 5 days later my portfolio had lost over 500BTC value and I had a list of redeem requests.

Current situation:
Ozcoin Bitcoin Pool has gone from over 10% of the network to under 0.05% over the last few months due to various and ongoing attacks that have disrupted operation and scared off miners - we need to build it back to at least 5% of the network.
Invested in a startup before Bitfunder issues, currently finishing legals moving to beta after New Year.
CrownCloud continues to bring a growing profit every month, planning to expand operations after New Year.
violence will not get coins,
litigation forcing me into bankruptcy will result in a minimal return for unsecured investors,
being patient and allowing me to continue and grow my Bitcoin businesses while still aiming to return the bulk of great.loan by mid 2014 will give investors the best return.

Best Wishes
Graet

still the latest news .. 

[Danglebee]

I believed mr Graet run pool and many site among community? Reality he owe all user bitcoin ?