Minor Miner
Legendary
 Offline
Activity: 2282
Merit: 1012
Be A Digital Miner
|
 |
July 20, 2014, 04:16:39 PM |
|
If you read Liquidbits offer, it is clear they do not have the capital to do what they want to accomplish, So, they are making a very complicated "deal" in order to get something for free.
They state there is 5.7 Million Dollars of components (possibly understated) held by suppliers. Instead of offering to buy the inventory, they form a convoluted plan that should demonstrate to everyone that they do not have enough cash to do what they claim they can. Otherwise, they would propose the FAR more simple deal of paying $5.7M for the chips, boards and components and let the rest of the bankruptcy progress. That would allow the court to compile a list (I DO NOT SEE ONE) of exactly what these assets are and then seek other public bidders. If LB's offer was the highest, the estate would have $5.7M to start paying the expenses and some of the creditors, and perhaps prove that it could become an on going concern.
But, if LB does not have enough money to do that, why would creditors want to become subordinated lenders to a company that is obviously undercapitalized and will likely never repay them?
Better still for creditors, let's get a list of these assets that LB wants, break them into 5 -10 lots and see what demand in the market is for them. Maybe 20 lots so that people like Teal and others may be able to bid on a lot and we get the maximum value. Keep the IP to sell later or to use to keep producing chips and boards and send every creditor some percentage of what they are owed. Then we all feel a little better as we continue to pursue the truth about what happened and try and maximize the value of the estate.
It states that the debtors have not shopped the assets, does the committee even have a list of these assets that would allow them to shop them around to bidders? Or is it just Eduardo shopping them in his own personal interest.
They also say Hashfast has showed these assets to over 20 (?) potential bidders (I find if VERY interesting that Liquidbits has been told exactly how many people HF has shown a deal to and that HF would also give them the information that no one is interested? That is not how a negotiation works). I have not been contacted in order to bid on these assets, and I am a large miner and also have the financial resources to purchase them. No one has attempted to contact me. So, the statement that these assets have been widely shown is false. I am easily found and known by HF since they spent months lying to me about their production status and they know how many miners I ended buying from their competitors because of HF's failure to deliver on Nov 15.
I was never shown a list of assets and asked to bid. I am sure there are tons of others like me that have not seen the list. Mr Teal, have you seen this list? Aerobatic have you seen this list?
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
Minor Miner
Legendary
Offline
Activity: 2282
Merit: 1012
Be A Digital Miner
|
|
July 20, 2014, 04:21:35 PM |
|
On Line Petition:
Sorry, I reported the link as you did not have any text with it just the link and thought it was suspicious. You may have to re-post.
I would add to the petition an extra line that any creditor could sign stating whether they would be interested in bidding on a portion of the assets. More money can likely be realized if the current assets are sold to many parties instead of one. And then if liquid bits wants the right to the IP with no royalties, they can pay for it (I would think the estate would be better off just selling them chips in the future and not giving them the right to IP for free since that significantly lowers the value of selling the IP to someone else).
|
|
|
|
|
Ilan1
|
|
July 20, 2014, 04:35:33 PM |
|
On Line Petition:
Sorry, I reported the link as you did not have any text with it just the link and thought it was suspicious. You may have to re-post.
I would add to the petition an extra line that any creditor could sign stating whether they would be interested in bidding on a portion of the assets. More money can likely be realized if the current assets are sold to many parties instead of one. And then if liquid bits wants the right to the IP with no royalties, they can pay for it (I would think the estate would be better off just selling them chips in the future and not giving them the right to IP for free since that significantly lowers the value of selling the IP to someone else).
OK no problem well here it is again with some text, hope they don't remove it again now though. Hello! I've started the petition "HASHFAST LLC AND HASHFAST TECHNOLOGIES LLC. & LIQUIDBITS CORP.: CREDITORS ONLINE PETITION AGAINST THE TERM SHEET FOR EMERGENCY SECTION 363 SALE" and need your help to get it off the ground. Will you take 30 seconds to sign it right now? Here's the link: http://www.change.org/en-GB/petitions/hashfast-llc-and-hashfast-technologies-llc-liquidbits-corp-creditors-online-petition-against-the-term-sheet-for-emergency-section-363-sale Here's why it's important: THIS PETITION IS TO VOICE ALL THE CREDITORS THAT ARE AGAINST THE EMERGENCY SECTION 363 SALE BETWEEN HASHFAST LLC AND HASHFAST TECHNOLOGIES LLC (HASHFAST) & LIQUIDBITS CORP. (LIQUIDBITS) WE THE CREDITORS OF HASHFAST DO NOT AGREE WITH THE TERMS OF THE PROPOSED ASSET PURCHASE, AS WE BELIEVE IT DOES NOT SERVE IN THE BEST INTEREST OF ALL CREDITORS. You can sign my petition by clicking the link above. Thanks! |
|
|
|
cedivad
Legendary
Offline
Activity: 1176
Merit: 1001
|
|
July 20, 2014, 04:40:48 PM |
|
Before starting to promote a single petition, I would suggest to write it properly and to understand if a more formal one would have a better grip on th judge. I'm quite sure it would.
|
My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
|
|
|
Ilan1
|
|
July 20, 2014, 04:43:37 PM |
|
Before starting to promote a single petition, I would suggest to write it properly and to understand if a more formal one would have a better grip on th judge. I'm quite sure it would.
I am happy to change the wording, please let me know what you would like me to put  |
|
|
|
|
stan258
|
|
July 20, 2014, 05:39:02 PM |
|
Liquidshits can kiss off. Is Uniquify on with holding out on this deal?
|
|
|
|
|
|
armyof1ne
|
|
July 20, 2014, 05:46:19 PM |
|
*snickering intensifies* not to toot my own horn... but *FOGHORN* this look like something i said a while back? I don't think this "deal" is going to work well for creditors, but hey... it will work out for at least someone, lol.
|
|
|
|
|
Minor Miner
Legendary
Offline
Activity: 2282
Merit: 1012
Be A Digital Miner
|
|
July 20, 2014, 05:52:39 PM |
|
*snickering intensifies* not to toot my own horn... but *FOGHORN* this look like something i said a while back? I don't think this "deal" is going to work well for creditors, but hey... it will work out for at least someone, lol.
Would that be you Ray? |
|
|
|
|
pmorici
|
|
July 20, 2014, 09:15:27 PM |
|
Liquidshits can kiss off. Is Uniquify on with holding out on this deal?
The creditor's committee is made up of 7 creditor's Uniquify is only one vote of the 7. |
|
|
|
|
|
Entropy-uc
|
|
July 20, 2014, 10:11:33 PM |
|
Does anyone have a small amount (5-10) of golden nonce chips to sell?
A guy I know has some technicians at hand who could design an asic board.
Hashfast will sell you chips. |
|
|
|
|
|
perezoso
|
|
July 21, 2014, 02:19:10 AM |
|
*snickering intensifies* not to toot my own horn... but *FOGHORN* this look like something i said a while back? I don't think this "deal" is going to work well for creditors, but hey... it will work out for at least someone, lol.
Would that be you Ray? No, he's a fool that believes that if everyone just left Eddie and Simon alone, they would have shipped all of us our miners in time to profit. I'm currently selling him a bridge over the Thames. Where are all of Ray's clients, who used to be abundant here? |
|
|
|
|
cedivad
Legendary
Offline
Activity: 1176
Merit: 1001
|
|
July 21, 2014, 09:24:53 AM
Last edit: July 21, 2014, 09:34:57 AM by cedivad |
|
A guy I know has some technicians at hand who could design an asic board.
Hashfast will sell you chips. And especially the design files. No need to develop a new board when the existing one is working decently. I would like to have more informations about the new board design that more than halves the costs. Because its something I would be probably interested into investing. They give us the chips for free and we pay less than $0.4/GH to have working hardware. Maybe we could oraganise a big group buy among existing creditors. Everyone has everything to gain from it. Barber, Monica, etc, you are reading and you know my email address. |
My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
|
|
dentro
Member
Offline
Activity: 92
Merit: 10
|
|
July 21, 2014, 11:35:09 AM |
|
I think everybody already completed the form regarding the proof of claim? I think i need some help (my english isn't that good, so also the help page is hard to understand https://ecf.canb.uscourts.gov/help/b10-instructions.htm), would be nice if somebody could help me (PM or reply, both welcome). Point 1: Amount of Claim: I received my BJ Batch 1, but no MPP, so what's the value for Batch 1 MPP? Point 2: What did you fill in for "Basis for Claim" Point 3: What do i have to fill for "Last Four Digits of Any Number by Which Creditor Identifies Debtor"? |
|
|
|
|
|
DjPxH
|
|
July 21, 2014, 01:48:31 PM |
|
Does anyone have a small amount (5-10) of golden nonce chips to sell?
A guy I know has some technicians at hand who could design an asic board.
Are they even worth the trouble anymore? Even ASICMiner's current gen 3 chip is selling at cost because it's not that efficient anymore. These chips have in in the making for a year now. They're garbage now! |
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
PRIMEDICE The Premier Bitcoin Gambling Experience @PrimeDice
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
|
|
|
cedivad
Legendary
Offline
Activity: 1176
Merit: 1001
|
|
July 21, 2014, 02:03:21 PM |
|
It depends on the total costs. If they are at $0.4/GH with immediate delivery they are not garbage at all.
|
My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
|
|
itod
Legendary
Offline
Activity: 1974
Merit: 1076
^ Will code for Bitcoins
|
|
July 21, 2014, 02:44:17 PM |
|
It depends on the total costs. If they are at $0.4/GH with immediate delivery they are not garbage at all.
Current market price for miner "in-hand", shipping today, is ≈ 0.002BTC/GHs. This price is for: - miners similar in power efficiency with HashFast chip, older generations have significantly lower price per GHs. - complete functional miners, not just the chips. These miners are usually delivered without the power supply since the power supply complicates local import regulations Keep in mind that the price goes down with every difficulty adjustment. |
|
|
|
|
cedivad
Legendary
Offline
Activity: 1176
Merit: 1001
|
|
July 21, 2014, 03:23:21 PM |
|
HF costs less than $1.2/GH, so there is a market to be exploited for the benefit of the creditors.
|
My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
|
|
|
stan258
|
|
July 21, 2014, 03:53:52 PM |
|
HF costs less than $1.2/GH, so there is a market to be exploited for the benefit of the creditors.
This has to happen soon. Like right now. Bitmain is pumping out easy to use at home S3. |
|
|
|
|
cedivad
Legendary
Offline
Activity: 1176
Merit: 1001
|
|
July 21, 2014, 03:57:41 PM |
|
HF costs less than $1.2/GH, so there is a market to be exploited for the benefit of the creditors.
This has to happen soon. Like right now. Bitmain is pumping out easy to use at home S3. Like 2 months ago, or like in January. The bottleneck is the debtor in possession. |
My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
|
|
Minor Miner
Legendary
Offline
Activity: 2282
Merit: 1012
Be A Digital Miner
|
|
July 21, 2014, 04:16:03 PM |
|
It depends on the total costs. If they are at $0.4/GH with immediate delivery they are not garbage at all.
Current market price for miner "in-hand", shipping today, is ≈ 0.002BTC/GHs. This price is for: - miners similar in power efficiency with HashFast chip, older generations have significantly lower price per GHs. - complete functional miners, not just the chips. These miners are usually delivered without the power supply since the power supply complicates local import regulations Keep in mind that the price goes down with every difficulty adjustment. You are mixing currencies. He stated in $/GH/s, you replied in BTC/GH/s. Big difference. Your statement "price goes down with every difficulty adjustment" does not hold true for both, only for BTC/GH/s. Exchange rate would have to never move for your statement to be correct for $ per GH/s |
|
|
|
|
