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Author Topic: [BitFunder] Ukyo.Loan - Paying 0.05% daily.  (Read 63830 times)
BitThink
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November 05, 2013, 09:14:26 AM
 #181

Disclaimer: I don't hold any Ukyo.Loan

If a man has to close a website, which brings him a lot of legal problems, probably we don't need to worry he will disappear with all the money, cause that will make his life much tougher. The only risk is that he may be bankrupt and then everything is gone. So asking for personal detail does not help much, we'd better to know his financial situation.  
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SOSLOVE868
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November 05, 2013, 09:18:06 AM
 #182

Disclaimer: I don't hold any Ukyo.Loan

If a man has to close a website, which brings him a lot of legal problems, probably we don't need to worry he will disappear with all the money, cause that will make his life much tougher. The only risk is that he may be bankrupt and then everything is gone. So asking for personal detail does not help much, we'd better to know his financial situation.  

there is other issue which we can't withdraw BTC from weexchange... for our loan holders, even we sell our loans with this massive lose, we may still not see our BTC again.. I am really feel panic and want to know what's wrong with the withdraw function in Weexchange.
mgio
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November 05, 2013, 06:20:59 PM
 #183

Disclaimer: I don't hold any Ukyo.Loan

If a man has to close a website, which brings him a lot of legal problems, probably we don't need to worry he will disappear with all the money, cause that will make his life much tougher. The only risk is that he may be bankrupt and then everything is gone. So asking for personal detail does not help much, we'd better to know his financial situation.  

Personal details are useful because he might be able to disappear, at least for a time, with the money. By the time he is found, he might not have anything left to pay off his creditors.

The total value of all 200,000 ukyo.loan shares is roughly $500k right now. It is possible he does not have that much money, even if he does liquidate all his assets.

I'd like to know his financial situation too, although you should realize that information isn't exactly helpful as there is nothing we can do with it, at least not if you are not a verified bitfunder user.

In the meantime, Ukyo has no reason to lie to us. Since bitfunder is closing, he does not have to worry about its reputation anymore. If was not able to cover all of the bond redemptions, it would make sense for him to admit it as soon as possible and give an estimate as to what percent he can cover. My guess is that he is doing everything he can to liquidate his assets in order to cover the loan and it has not come to that, at least not yet.
Bananery
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November 06, 2013, 01:30:00 AM
 #184

mgio, how is your redemption progressing?
mgio
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November 07, 2013, 07:11:07 AM
 #185

mgio, how is your redemption progressing?

No word from ukyo since he contacted on Oct 28 asking if I could request a smaller amount to redeem to start. I replied saying that I would be ok redeeming 5,000 of my 25,000 shares for now. That was before the Bitfunder close was announced.

I could transfer my shares to a non-US citizen and sell right now for roughly half their value. It's tempting.

So my options are sell now and lose 125 BTC or hold and wait for ukyo risk losing up to all 250 BTC if he defaults.

My fear is that if ukyo converted the funds raised to fiat he will have a lot of trouble gathering the cash to issue redemptions since BTC has nearly tripled since the loan was issued.

Im interested in hearing about how he invested the money and what plans he has for weexchange.

I wonder if he needs a software engineer. I'm will to work for free in exchange for getting my shares redeemed Smiley.
Bananery
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November 07, 2013, 11:42:58 AM
 #186

mgio, how is your redemption progressing?

No word from ukyo since he contacted on Oct 28 asking if I could request a smaller amount to redeem to start. I replied saying that I would be ok redeeming 5,000 of my 25,000 shares for now. That was before the Bitfunder close was announced.

I could transfer my shares to a non-US citizen and sell right now for roughly half their value. It's tempting.

So my options are sell now and lose 125 BTC or hold and wait for ukyo risk losing up to all 250 BTC if he defaults.

My fear is that if ukyo converted the funds raised to fiat he will have a lot of trouble gathering the cash to issue redemptions since BTC has nearly tripled since the loan was issued.

Im interested in hearing about how he invested the money and what plans he has for weexchange.

I wonder if he needs a software engineer. I'm will to work for free in exchange for getting my shares redeemed Smiley.

I also have some shares, but not that much. Same thing with working to redeem shares, I'm prepared to put in some work if it means faster redeeming, or redeeming at all. I think Ukyo should hire someone to go through some work, as it is obvious there is too much to do for him.
canuck
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November 10, 2013, 04:00:01 PM
 #187

So, has anyone received a redemption on this lately?  Ukyo, have any been processed?
Ukyo
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November 10, 2013, 06:22:22 PM
 #188

So, has anyone received a redemption on this lately?  Ukyo, have any been processed?

I apologize, I have been extremely busy with sorting out problems with weexchange.
I am still working with MGIO on his, I spoke to him a day ago or so and hope to have him taken care of soon and be able to move onto the next requets.

In the meantime, I am hoping to announce some good news this week that was made possible by this.

-Ukyo
canuck
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November 11, 2013, 03:08:48 PM
 #189

So, has anyone received a redemption on this lately?  Ukyo, have any been processed?

I apologize, I have been extremely busy with sorting out problems with weexchange.
I am still working with MGIO on his, I spoke to him a day ago or so and hope to have him taken care of soon and be able to move onto the next requets.

In the meantime, I am hoping to announce some good news this week that was made possible by this.

-Ukyo

+1 thank you Ukyo.  Hope this all blows over for you and all of us soon.
MilkyLep
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November 12, 2013, 08:30:21 PM
 #190

Great news and I'm glad you're still devoted Ukyo.

For anyone wondering, is a PM here still the best avenue to request a redemption? Or will this become irrelevant once shares are tendered back to issuer?

Either you own the bitcoins(private keys) or you don't. However with moneroj, nobody knows what you own.
Secure. Private. Untraceable.
CumpsD
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November 12, 2013, 09:19:40 PM
 #191

Is there a list of the order you are honoring requests?

Cos I have sent a PM but never heard anything about it, basically in the blind now. Would to to know where I stand on it
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November 13, 2013, 01:19:28 AM
 #192

uKyo I request a withdraw on weexchange, one week ago, still processing, please tell me what is going on,,, I need my bitcoin back
thy
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November 17, 2013, 12:47:17 PM
 #193

uKyo I request a withdraw on weexchange, one week ago, still processing, please tell me what is going on,,, I need my bitcoin back
Ukyo/weexchange is having problems with bitcoind because the wallet.dat file has become to big, takes 15-30 min to do each transaction manually for him.

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November 17, 2013, 04:38:18 PM
 #194

uKyo I request a withdraw on weexchange, one week ago, still processing, please tell me what is going on,,, I need my bitcoin back
Ukyo/weexchange is having problems with bitcoind because the wallet.dat file has become to big, takes 15-30 min to do each transaction manually for him.


Is this solvable with libbitcoin  Wink?

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mgio
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November 18, 2013, 04:58:58 PM
 #195

Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.

Thanks.
SOSLOVE868
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November 18, 2013, 05:42:37 PM
 #196

Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.

Thanks.

UKYO,can u tell us what will you do with our BTC? I need it back ,thanks !!!!I can offer you a discount rate !!really!!!
bittymitty
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November 18, 2013, 10:16:17 PM
 #197

As we are unable to easily withdraw from Weexchange can the dividend be paid directly to the BTC wallet address?
SOSLOVE868
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November 18, 2013, 10:20:28 PM
 #198

As we are unable to easily withdraw from Weexchange can the dividend be paid directly to the BTC wallet address?
UKYO...I can redeem my loans at really good price ,please contact me ~~thank U
thecoinjournal
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November 19, 2013, 06:57:45 AM
 #199

Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.

Thanks.

Hi mgio, how is your redeeming going?

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November 19, 2013, 08:31:33 AM
 #200


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