[BTC-TC] Deprived Mining Speculation (DMS)

[stripykitteh]

So should we chalk this up to a loss? Or will the shares be trading on cypher trade by default?

Wait until the CipherTrade is live and hope Kate and Deprived are back that time.

As long as Kate can be contacted, we can negotiate on how to deal with the CipherMine.B1 part (more than half) of DMS. The rest 150 BTC in the public address https://blockchain.info/address/1CzJY7pVkCqDjUtycHzFgeTTbbWokqYuXo is only accessible by Deprived and nobody else can handle it, so we really needs to find Deprived for that part of DMS.

Also, Kate knows Deprived so if he hasn't surfaced by then attempts can be made to locate him. Last known address, etc.

There was someone who posted in November that claimed he knew who Deprived was but the post appears to have been deleted.

[matt4054]

Deprived Shareholder Speculation (DSS) :-/

[matt4054]

This is not funny. Unless Deprived had a serious accident or/and ended up in jail in a remote country, there is no excuse for not even bothering to say 'hi' once a month when you are an asset issuer with so much outstanding capital that you did not care to buy back.

I'm giving him until the end of the month, and then I'll see with a local lawyer how to start identification procedure, if affordable for less than $10.000 or something (just a figure). Anyone else interested?

Cheers

[BitThink]

I agree that definitely something has happened on Deprived. I just don't know what's it. I don't think any lawyer can help in current stage. Waiting for Kate is still the fastest way to contact Deprived.

[Lohoris]

I have to admit that this time I did not see it coming.

[BitThink]

We'd better follow the progress of CipherTrade closely. As long as that company is still there, More than half of our funds in the form of CipherMine.B1 is still claim-able.

[twentyseventy]

We'd better follow the progress of CipherTrade closely. As long as that company is still there, More than half of our funds in the form of CipherMine.B1 is still claim-able.

That's actually a good point. I agree that, at this point, it's far beyond impolite to not have even show up for this long. Hoping he's okay; last time he did this for a month and then showed up like nothing was the matter. I'm assuming that you guys have tried to email him at that email address?

[matt4054]

That's actually a good point. I agree that, at this point, it's far beyond impolite to not have even show up for this long. Hoping he's okay; last time he did this for a month and then showed up like nothing was the matter. I'm assuming that you guys have tried to email him at that email address?

I have little hope but I just did. I had sent at least 2 PMs before, of course.

[Danglebee]

usagi last login 10th december.
Deprived has eloped with Usagi and funds

[BitThink]

What's the link between usagi and deprived? Why we need to care about usagi?

[matt4054]

usagi last login 10th december.
Deprived has eloped with Usagi and funds

Deprived
creativex
Usagi
John K.

So many prominent members of this forum have gone missing.

There's no obvious link between them IMHO

[twentyseventy]

usagi last login 10th december.
Deprived has eloped with Usagi and funds

Deprived
creativex
Usagi
John K.

So many prominent members of this forum have gone missing.

There's no obvious link between them IMHO

Apparently John K is back-

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512

Hey guys,

Sorry for my (yet again) unannounced hiatus for the past month or so - I have been extremely busy due to heavy travelling and am just back to Malaysia from China. I am alive,
although not really well and extremely apologetic for what my delay have done. I've released a few escrows I've been holding in the order of magnitude and those I can
clear within this hour.

bitcointalk forum coins (of 1000 BTC)
https://blockchain.info/tx/fe43797656265047b886de3bbac48d720cf60b4dfeadb61fa87434a80ba7f72b

I'll clear the raffle coins once I figure out who won as I didn't receive a PM regarding this yet, but be rest assured that I'll clear this ASAP.


I'll be back to clear everything else once I get back to the States again - I'm catching another intercontinental flight in roughly 12 hours which should last around 25 hours including
 layovers, and hopefully I'll use the jet lag when I reach there to clear the remaining urgent escrows.

Best,
John
-----BEGIN PGP SIGNATURE-----
Comment: GPGTools - https://gpgtools.org

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RYKac5G48zh+QrkxW6Ly
=St4X
-----END PGP SIGNATURE-----


Attached email from theymos:

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256

John K.,

Please sent the 1000 bitcoins you are holding for the forum to the following address controlled by me:
1M4yNbSCwSMFLF9BaLqzoo2to1WHtZrPke

This is an official order. Your treasurer agreement requires that you execute this transaction within 14 days (except in certain special cases which I do not believe apply here).

Thank you.
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29dESb1O13xhxuLysTYBAJW4NvGIn51E4NPHWIBmr7Iv2B/X/Xc7KePk5iBrK+wd
=rMnT
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[psychogilgamesh]

Yea, I'm really wanting to be wrong and have Deprived show back up in 4 days when ciphertrade opens. *crossed fingers*

[Justin00]

jeeez I hope he comes back.
I always enjoyed reading his posts and found them quite educational.

if he doesn't come back for whateva reason, the lending/sec forums should be shut down.. he is/was? one of the last few decent people.

[JohnWasser]

Yea, I'm really wanting to be wrong and have Deprived show back up in 4 days when ciphertrade opens. *crossed fingers*

The countdown timer at CipherTrade.com seem to indicate that SOMETHING is happening at 10 AM Eastern US time on January 17th (if my math is right) but that may be the Public Beta.  Until actual trading is in full swing I doubt that DMS-Purchase, DMS-Mining or DMS-Selling shares will be getting any back dividends.

[stripykitteh]

Yea, I'm really wanting to be wrong and have Deprived show back up in 4 days when ciphertrade opens. *crossed fingers*

The countdown timer at CipherTrade.com seem to indicate that SOMETHING is happening at 10 AM Eastern US time on January 17th (if my math is right) but that may be the Public Beta.  Until actual trading is in full swing I doubt that DMS-Purchase, DMS-Mining or DMS-Selling shares will be getting any back dividends.

... and Deprived returns.

If he doesn't, we asset holders will have to petition CipherMine to get access to the CIPHERMINE.B1 bonds, and come up with some equitable way of resuming the assets (perhaps a new management structure voted on by asset holders?) The 150 btc will sadly have to be written off. DMS.MINING must be looked after according to the terms of the contract, so they won't lose anything in the long run. DMS.PURCHASE and DMS.SELLING will have to eat the loss of the 150 btc but we still should get something back eventually once CIPHERMINE.B1 is liquid.

Unfortunately Kate's long absence and a lack of a backup plan to run CIPHERMINE.B1 in a professional manner means the liquid price might be well South of where it should be.

The new manager would also need to get an extract from Burnside about who the asset holders are, unless CipherTrade have somehow obtained it. I think I'd want to see a certified copy from Burnside though.

[matt4054]

Stripykitteh, thank you, I totally support the petition for CipherMine.

Let's just hope that Deprived returns in time...

[inspiredinvestor]

hanging for ciphertrade to open. lets hope it all sorts itself out, the exchange closures, and one-man shows are quite nerve-racking

[BitThink]

hanging for ciphertrade to open. lets hope it all sorts itself out, the exchange closures, and one-man shows are quite nerve-racking

Even it's listed on the exchange, it is still a one-man show. Imagine it's still listed on btct, and Deprived stopped paying dividend for one and a half month, what will happen? Panic selling to almost 0, definitely, worse than now in my opinion.

[BitThink]

Yea, I'm really wanting to be wrong and have Deprived show back up in 4 days when ciphertrade opens. *crossed fingers*

The countdown timer at CipherTrade.com seem to indicate that SOMETHING is happening at 10 AM Eastern US time on January 17th (if my math is right) but that may be the Public Beta.  Until actual trading is in full swing I doubt that DMS-Purchase, DMS-Mining or DMS-Selling shares will be getting any back dividends.

... and Deprived returns.

If he doesn't, we asset holders will have to petition CipherMine to get access to the CIPHERMINE.B1 bonds, and come up with some equitable way of resuming the assets (perhaps a new management structure voted on by asset holders?) The 150 btc will sadly have to be written off. DMS.MINING must be looked after according to the terms of the contract, so they won't lose anything in the long run. DMS.PURCHASE and DMS.SELLING will have to eat the loss of the 150 btc but we still should get something back eventually once CIPHERMINE.B1 is liquid.

Unfortunately Kate's long absence and a lack of a backup plan to run CIPHERMINE.B1 in a professional manner means the liquid price might be well South of where it should be.

The new manager would also need to get an extract from Burnside about who the asset holders are, unless CipherTrade have somehow obtained it. I think I'd want to see a certified copy from Burnside though.

Although I hope what you said could be done, but piratically it's almost impossible. The DMS is managed by Deprived personally, and the shares of CipherMine.B1 are invested by Deprived personally too (confirmed from Kate during Deprived's last disappearance).  Last time, when I asked Kate to hold on the CipherMine.B1 dividend until Deprived is back, Kate was quite hesitated because that will breach the term of CipherMine.B1. She said theoretically they are only responsible to Deprived himself, and has nothing to do with the investors of DMS funds.

Now you are suggesting CipherMine to take over the DMS funds completely. That means they 'deprived' all the shares of one of their investors and use them to setup a new fund. Although we, the investors of DMS, will welcome this solution definitely, we cannot deny that it is completely illegal.

I think the best thing they can do is holding the dividend (and the face value in case of closure of CipherMine.B1), and freezing the trading of Deprived's shares until he appears (they cannot be trade without Deprived anyway).

Then (touch the wood) only if Deprived never appears after a certain amount of days (I don't know how long it needs to be in UK since both CipherMine and Deprived are there), then his investment, as part of his wealth, can be used to pay his personal debt (the DMS shares and maybe others).

Therefore, without Deprived appears in time, we cannot see a happy ending (lose only 150 BTC becomes the best result already) easily.