[BitFunder] Ukyo.Loan - Paying 0.05% daily.

[thecoinjournal]

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

Hi Ukyo, any news?

[Djingis]

Hi there,

i just come back and want to take a look at the BTC balance.
Now i noticed that the Bitfunder website is shutting down  
Already read some threads and statement..

But i don't know what to do with my assets!
Holding some of Ukyo.Loan shares .. what to do with it ?
Also some of my coins stuck in weexchange  

Don't tell me to wait thats what iam already doing

Greets
Djingis

[mgio]

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?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. 

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

[jimmothy]

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?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. 

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing..

[mgio]

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?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. 

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing..

I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced?

The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed.

[jimmothy]

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?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. 

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing..

I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced?

The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed.

In that case why can't ukyo just simply say it is the secs fault? Would at least put some of the conspiracys to rest and people will understand the situation.

[mgio]

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?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. 

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing..

I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced?

The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed.

In that case why can't ukyo just simply say it is the secs fault? Would at least put some of the conspiracys to rest and people will understand the situation.

He is likely being advised by his lawyers not to talk publicly about what is going on until it is all settled. Him speaking publicly could only hurt him.

[jimmothy]

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?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. 

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing..

I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced?

The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed.

In that case why can't ukyo just simply say it is the secs fault? Would at least put some of the conspiracys to rest and people will understand the situation.

He is likely being advised by his lawyers not to talk publicly about what is going on until it is all settled. Him speaking publicly could only hurt him.

Holding the equivalent of millions of US dollars with no explanation could certainly hurt him as well if someone decides they are tired of waiting and try to do something about it.

I see literally no reason ukyo is being so secretive unless it involves something that makes him look bad or worse.

it is possible for legal reasons he cant speak out but I don't buy that. Even in that case he could tell us he cant legally say anything but it looks more like he chose to keep everything secret at his own will.

[mgio]

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?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million. 

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing..

I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced?

The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed.

In that case why can't ukyo just simply say it is the secs fault? Would at least put some of the conspiracys to rest and people will understand the situation.

He is likely being advised by his lawyers not to talk publicly about what is going on until it is all settled. Him speaking publicly could only hurt him.

Holding the equivalent of millions of US dollars with no explanation could certainly hurt him as well if someone decides they are tired of waiting and try to do something about it.

I see literally no reason ukyo is being so secretive unless it involves something that makes him look bad or worse.

it is possible for legal reasons he cant speak out but I don't buy that. Even in that case he could tell us he cant legally say anything but it looks more like he chose to keep everything secret at his own will.

I believe he did say something like that a little while back.

People are getting impatient and I'm sure people are already pursuing legal action.

I agree that the situation is not good, especially since there hasn't been dividends in 5 days now. Not that it would matter as weexchange issues seem to make it impossible to withdraw bitcoin either. Ukyo is in a very bad situation. I'm guessing he has nowhere near the 1.2 million necessary to cover the bonds as is hoping that his new business ventures will be able to earn enough to pay them off. It looks like that might be difficult though as I imagine the shutdown of bitfunder cost him a lot.

[SOSLOVE868]

I think the more time pass ,the more risk of our funds... It is the time our loan holders and those who can't withdraw coins from Weexchang to become together and get a layer to against him......

[ffssixtynine]

I think the more time pass ,the more risk of our funds... It is the time our loan holders and those who can't withdraw coins from Weexchang to become together and get a layer to against him......

That's a last resort because if he doesn't have much in the way of funds, no one will be getting anything the moment his business stops. I'm certain he's not run away with everyone's money.

The loan issue is very different from the WeExchange issue. He made a critical mistake stating it could be repaid any time when this made no sense. He needs to sort that out with Loan holders.

WeExchange, however, is actually other people's money which was never loaned. In theory they are all still present and correct. It's the WeEx issues that are making everyone increasingly nervous and asking for the loan to be repaid. If WeEx was sorted out today (hah!) at least confidence would start to go up rather than down.

[SOSLOVE868]

I think the more time pass ,the more risk of our funds... It is the time our loan holders and those who can't withdraw coins from Weexchang to become together and get a layer to against him......

That's a last resort because if he doesn't have much in the way of funds, no one will be getting anything the moment his business stops. I'm certain he's not run away with everyone's money.

The loan issue is very different from the WeExchange issue. He made a critical mistake stating it could be repaid any time when this made no sense. He needs to sort that out with Loan holders.

WeExchange, however, is actually other people's money which was never loaned. In theory they are all still present and correct. It's the WeEx issues that are making everyone increasingly nervous and asking for the loan to be repaid. If WeEx was sorted out today (hah!) at least confidence would start to go up rather than down.

It already nearly a month without any evidence from UKYO to prove that technical problem within WeEx ,however he keeps everything under his own secret, this really hurting our confidence in no matter the loans and WeEx withdraw issue.. from my personal view I hope he can sort out everything smoothly without mess, but I have no way to seen that anything shows positive .and this really increasing my worry over my loans and the BTC stuck in WeEx.

[Djingis]

It already nearly a month without any evidence from UKYO to prove that technical problem within WeEx ,however he keeps everything under his own secret, this really hurting our confidence in no matter the loans and WeEx withdraw issue.. from my personal view I hope he can sort out everything smoothly without mess, but I have no way to seen that anything shows positive .and this really increasing my worry over my loans and the BTC stuck in WeEx.

dude, i've got exactly the same problem .. i try to stay in the irc channel the whole day if possible to read anything about ukyo ((((
iam so damn scared to lose my BTC at the loan and at weex !! 

[mgio]

I think the more time pass ,the more risk of our funds... It is the time our loan holders and those who can't withdraw coins from Weexchang to become together and get a layer to against him......

That's a last resort because if he doesn't have much in the way of funds, no one will be getting anything the moment his business stops. I'm certain he's not run away with everyone's money.

The loan issue is very different from the WeExchange issue. He made a critical mistake stating it could be repaid any time when this made no sense. He needs to sort that out with Loan holders.

WeExchange, however, is actually other people's money which was never loaned. In theory they are all still present and correct. It's the WeEx issues that are making everyone increasingly nervous and asking for the loan to be repaid. If WeEx was sorted out today (hah!) at least confidence would start to go up rather than down.

It's not any different at all actually. One does not take priority over the other. They are both debts of his and he has to cover both of them. I foresee bankruptcy in his future unless there is some miracle. It's the only way he can get out of his obligations. The only difference re weexchange is he may be considered guilty of fraud if it is found that he has been lying about the bitcoind problems.

I still have faith that he is doing everything he can to return everyone's bitcoins. I'm less convinced that he will be able to though.

[thecoinjournal]

Ukyo hasn't paid dividends for a few days, any news?

[MaxwellsDemon]

Ukyo hasn't paid dividends for a few days, any news?

More than a week now, but at this point I'm a LOT more worried about ever seeing the principle back...

[bittymitty]

Ukyo hasn't paid dividends for a few days, any news?

More than a week now, but at this point I'm a LOT more worried about ever seeing the principle back...

I think we are in default territory now.   He isn't paying dividends, redemptions or weexchange withdrawals.

[sparky999]

haven't received my asicminer-pt dividends either

[Kosmatos]

I'm still in denial.

[SOSLOVE868]

I'm still in denial.

Me too, can't accept that UKYO almost ties up 70% of my BTC, I am deeply worry and feel desperately because I can't do anything......