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Author Topic: [BTC-TC] Deprived Mining Speculation (DMS)  (Read 198981 times)
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Jasun7211
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September 13, 2014, 08:20:51 PM
 #1921

didn't someone have some of deprived's BTC addresses.  Did he move any of the bitcoins?

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September 14, 2014, 01:29:17 AM
 #1922

didn't someone have some of deprived's BTC addresses.  Did he move any of the bitcoins?

No there is still 150 BTC there, so Deprived has not run off with the funds. 

Oh what a difference a year makes as we approach the anniversary of BTCT closing.  Bitcoin to Kate Wood is now a 'hobby', John Walkin (AKA Deprived) is still an alcoholic myth, and we still have no access to our funds.   At 410 BTC, the fund is now worth just under $200,000 USD. 

PS> No dividends for Cipherbond since June.   
 

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September 14, 2014, 02:01:50 AM
 #1923

Anyone make any progress in tracking down Deprived or uncovering his rl identity?

I think this is no more relevant, as the ciphermine bond is officially worth nothing:

https://bitcointalk.org/index.php?topic=286634.msg8732682#msg8732682

And DMS holdings consist of 70% (?) ciphermine bonds, though even if Deprived shows up again it wouldn't matter much...
That link is the ugliest thing I have seen. Threaten shareholders to give up share and try to persuade bond holders to give up credit for some share of a new company worth nothing.
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September 14, 2014, 10:16:57 AM
 #1924

didn't someone have some of deprived's BTC addresses.  Did he move any of the bitcoins?

No there is still 150 BTC there, so Deprived has not run off with the funds. 

Oh what a difference a year makes as we approach the anniversary of BTCT closing.  Bitcoin to Kate Wood is now a 'hobby', John Walkin (AKA Deprived) is still an alcoholic myth, and we still have no access to our funds.   At 410 BTC, the fund is now worth just under $200,000 USD. 

PS> No dividends for Cipherbond since June.     

Since CM is defaulting on Cipherbond (through all kinds of weird semi-legal constructs it seems), I think that the value of DMS should be reduced to 150 BTC, the coin that is still available.

In the hypothetical event that Deprived would return to close the fund properly, that brings up the question of: How? Clearly the Cipherbond loss comes at the expense of SELLING holders, but when would that loss be placed in the books? A closure of the fund would, in my view, involve retroactively paying dividends based on how difficulty has changed over the past year. At some point, the 150 BTC would be gone with many dividends left unpaid.

Anyway, even in the case that the fund is closed properly, SELLING holders will be losing out on most if not all of their coin due to the default of Cipherbond. This wouldn't have been preventable by asking for an earlier redemption of the bonds, since DMS is a very large shareholder of Cipherbond and CM has been insolvent for some time.
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September 15, 2014, 06:47:35 AM
 #1925

We only need to worry about this if Deprived is back and responsive. Otherwise, 150 or 400 does not matter at all.
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October 27, 2014, 10:23:15 AM
 #1926

I wonder if Bitcoin Bounty Hunter could be of any help here Huh

NB: this post is semi-ironic
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October 29, 2014, 11:45:07 AM
 #1927

Anyway, really nice to see this post pop up again. I almost forgot my 10+ BTC is still in the hand of Deprived.
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October 29, 2014, 07:02:08 PM
 #1928

Did anyone get any personal contact info from deprived?

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October 29, 2014, 09:26:07 PM
 #1929

Anyway, really nice to see this post pop up again. I almost forgot my 10+ BTC is still in the hand of Deprived.

Every time that I see it pop up again my heart skips a beat, but I'm afraid there's only one purpose left to it: venting
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October 30, 2014, 12:03:06 PM
 #1930

Not that it will help get everyone's lost BTC back, but there may be some bittersweet redemption and consequences for Deprived if this story ever pans out. http://cointelegraph.com/news/112811/us-regulators-one-two-punch-sec-probes-crowdsales-fincen-takes-aim-at-exchanges

Link is discussing the SEC possibly investigating crowdsales on BitcoinTalk and using various investigatory means to track down issuers (and possibly bagholders shareholders).
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November 02, 2014, 02:00:15 AM
Last edit: November 02, 2014, 03:16:00 AM by tekke
 #1931

Anyway, really nice to see this post pop up again. I almost forgot my 10+ BTC is still in the hand of Deprived.

Every time that I see it pop up again my heart skips a beat, but I'm afraid there's only one purpose left to it: venting
sadly I  understand you perfectly. I took it as a very painful way to learn that even the most professional and trusted member could run away with your money.
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November 02, 2014, 10:47:27 AM
 #1932

Not that it will help get everyone's lost BTC back, but there may be some bittersweet redemption and consequences for Deprived if this story ever pans out. http://cointelegraph.com/news/112811/us-regulators-one-two-punch-sec-probes-crowdsales-fincen-takes-aim-at-exchanges

Link is discussing the SEC possibly investigating crowdsales on BitcoinTalk and using various investigatory means to track down issuers (and possibly bagholders shareholders).

The SEC is a US agency, Deprived is from the UK. Not sure how much they can do.
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November 02, 2014, 11:02:13 AM
 #1933

I don't have the/a link or address to hand, but i thought the funds were still static, i.e. noone has run away with any money Huh
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November 03, 2014, 12:53:43 AM
 #1934

I don't have the/a link or address to hand, but i thought the funds were still static, i.e. noone has run away with any money Huh

There are still 150BTC on 1CzJY7pVkCqDjUtycHzFgeTTbbWokqYuXo but it doesn't mean much as long as the one with the key is AWOL. He or she might just as well be dead, in rehab, jail or whatever.
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November 03, 2014, 08:56:29 AM
 #1935

He or she might just as well be dead, in rehab, jail or whatever.

Not just possible, but probable, i would say. And impossible to confirm either way without a RL name.

Multisig, multisig, multisig. 

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November 24, 2014, 10:33:29 PM
 #1936

Well my fellow investors here is the latest from Wood Technologies LLP:

We write to confirm that the CipherMine (‘CM’) restructure plan has been approved.

In accordance with that plan:

  1.   A new entity, Ciphermine Limited, has been incorporated in the UK;

  2.   The ‘share’ in the start-up crowdfunding platform CipherTrade (‘CT Share’) has been transferred to Ciphermine Limited. The CT Share has been calculated on the basis of a contribution at the relevant time by CM of USD $20,000, and equates to 10% of CipherTrade;

  3.   100,000 shares in Ciphermine Limited have been allotted, and will be available for subscription based on pro rata holdings of the CM B1  ’bond’ (‘Bond’) (e.g. 1 bond = 1 share, 2 bonds = 2 shares etc);

  4.   The subscription process is as follows:

      a.   You will sign up for an account at ciphertrade.com (if you have not already done so);

      b.   You will complete the KYC process;

      c.   If you are a US citizen you will be unable to subscribe unless you can demonstrate that you are an accredited investor in compliance with US securities laws;

      d.   By mid-December the number of eligible subscribers  will be assessed (‘Eligible Subscribers’) and they will be sent a subscription agreement for signature;

      e.    On receipt of a signed subscription agreement, shares in Ciphermine Limited will be issued to Eligible Subscribers (‘New Shareholders’);

  5.   CM’s mining assets are being sold, and will be added to an asset pool with the remaining cryptocurrency mined (which at today’s rates is worth approximately USD $10,000) (the ‘Asset Pool’). The Asset Pool will be distributed on a pro rata basis to New Shareholders;

  6.   Eligible Subscribers will have a maximum of six months from the date of this communication to subscribe for shares in Ciphermine Limited (i.e. by 24 May 2015). On expiry of that period, any remaining balance in the Asset Pool will be distributed to the New Shareholders.

Finally, please note that by signing the subscription agreement, you will do so in full and final settlement of any claim you might have, or have had, against CM’s ‘shareholders’ and/or any other individual and/or legal person, arising out of or in connection with CM and/or the ‘Bond’.

Yours faithfully,
Wood Technology LLP

So maybe we will finally get this mess cleaned up.  

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November 25, 2014, 01:49:24 AM
 #1937

Well my fellow investors here is the latest from Wood Technologies LLP:

We write to confirm that the CipherMine (‘CM’) restructure plan has been approved.

In accordance with that plan:

  1.   A new entity, Ciphermine Limited, has been incorporated in the UK;

  2.   The ‘share’ in the start-up crowdfunding platform CipherTrade (‘CT Share’) has been transferred to Ciphermine Limited. The CT Share has been calculated on the basis of a contribution at the relevant time by CM of USD $20,000, and equates to 10% of CipherTrade;

  3.   100,000 shares in Ciphermine Limited have been allotted, and will be available for subscription based on pro rata holdings of the CM B1  ’bond’ (‘Bond’) (e.g. 1 bond = 1 share, 2 bonds = 2 shares etc);

  4.   The subscription process is as follows:

      a.   You will sign up for an account at ciphertrade.com (if you have not already done so);

      b.   You will complete the KYC process;

      c.   If you are a US citizen you will be unable to subscribe unless you can demonstrate that you are an accredited investor in compliance with US securities laws;

      d.   By mid-December the number of eligible subscribers  will be assessed (‘Eligible Subscribers’) and they will be sent a subscription agreement for signature;

      e.    On receipt of a signed subscription agreement, shares in Ciphermine Limited will be issued to Eligible Subscribers (‘New Shareholders’);

  5.   CM’s mining assets are being sold, and will be added to an asset pool with the remaining cryptocurrency mined (which at today’s rates is worth approximately USD $10,000) (the ‘Asset Pool’). The Asset Pool will be distributed on a pro rata basis to New Shareholders;

  6.   Eligible Subscribers will have a maximum of six months from the date of this communication to subscribe for shares in Ciphermine Limited (i.e. by 24 May 2015). On expiry of that period, any remaining balance in the Asset Pool will be distributed to the New Shareholders.

Finally, please note that by signing the subscription agreement, you will do so in full and final settlement of any claim you might have, or have had, against CM’s ‘shareholders’ and/or any other individual and/or legal person, arising out of or in connection with CM and/or the ‘Bond’.

Yours faithfully,
Wood Technology LLP

So maybe we will finally get this mess cleaned up.  


================================
From the last balance sheet:
BTC Balance (BTC-TC)   0
CIPHERMINE Bonds    260.56000000
BTC Balance (Wallet)    150.79576392
Dividends (Wallet)    3.27310018
TOTAL ASSETS    414.62886410
   
Outstanding MINING   152575
Outstanding SELLING   152575
Outstanding PURCHASE   10479
Effective Units   163054
=================================
As we know, the CipherMine B1 is at 0.01BTC per bond when it launched. Therefore, DMS has 26056 bonds, and will be converted to 26056 shares of Ciphermine limited if this agreement is signed. In other words, 26.056% of Ciphermine limited, which at most is $30000 (or $20000?). Therefore, at best DMS will have around $7500, or 20 BTC. Less than 1/10 of its redemption value. Remember what they said?
Quote
"-- CipherMine has the right to redeem any bond in full with one month's notice to the bond holder at face value plus 12% less the number of months since issue. For example, after three months the redemtion value would be 0.0109 BTC/bond, and after 12 months the redemption value would be 0.010 BTC/bond. The redemption value will always be at least 0.010 BTC/bond."
====================================
But anyway, wish this removes the last excuse of why deprived choose to hide himself.
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December 09, 2014, 12:42:54 AM
 #1938

http://www.coindesk.com/sec-bitcoin-exchange-60000-securities-violations/   Maybe something will shake out of this

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shmoula
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April 27, 2015, 09:41:09 PM
 #1939

*bump*

Habbeat - beat your habits more effective way!!!
Always empty box(no cat also no coin): 1SHM1tiur2iNBCVxCBr7vAJ84PrPZ6d6v
matt4054
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April 27, 2015, 10:00:40 PM
 #1940

*bump*

I'm afraid that the patient is brain dead Sad
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