CoinLenders Script :: Bitcoin Bank (Borrow+Deposit) Software :: Demo Available

[halfawake]

I've read the stories here and feel sorry for anyone who has lost money/BTC.

Anyway....Some quick background on us:

We, and not (TF or coinlender) are part of a company with an "Australian Credit Providers Licence" (allows us to provide credit/LOANS) and we would like to make the following commentary to those affected or otherwise by the coinlender saga.

We believe the coinlender business has/had merit, with albeit inept execution/security floors.

For this reason we wish to speak to you that have lost funds using this system, to get your reactions to our request/proposition, before any formal commitment from our end.

As an Australian company we feel that if we can offer our assistance then we will do so.

So here are the initial thought/requests to consider/debate/chat about.

1. We would like to request to negotiate with TF to purchase coinlender/TF database/website and all intellectual property/domains etc and take over management of the current loans.
2. The cost to us will be $0, in fact we want $50,000 or 100 BTC from TF, to buy it and manage it from TF.
3. The $50,000 will be used to a) setup a company owning the intellectual property and b) issue shares in the new company to be split among both our company and that of you that lost money/BTC, along with some funds towards manegemnt of the current/new loans.    
2. TF to work with us for up to say 12 months (at no cost) on an ad hoc basis as needed to benefit the site/business. This will include a shareholding to him at the conclusion of 12 months, if we (collectively) so choose to do so based on his 12 months help.
3. Anyone who has lost funds/BTC will be rewarded by holding shares in the company in some way by using the service again (unsure at this point what that will be, but some form of monetary reward for commitment back to the site. You have to commit, make BTC available to receive shares. (unsure how this will work at this point but just a comment for now)
4. We would keep similar functionality and business concept with some required changes.
5. We are to be provided a complete breakdown by TF as to who has lost what amount so that we can make sure those that have been  affected receive a shareholding.
6. Shareholders to receive dividends prorated each year.  


Could go on forever, but in essence, we will take the inherent risk associated with buying a website/IP with a tarnished name with the acceptance of terms to the above by TF (we are negotiable) but more importantly it must be acceptable to the majority of you.

This by no means stops any action by you against TF for lost BTC, however we are trying to help you move forward in the meantime with this proposal/idea/concept.

PS: We personally do not believe TF is/was a scammer, however that is a moot point at this stage, the important thing is to find a solution to move forward that can benefit all past users/ new users and Bitcoin.

Happy to take questions/ ideas/ comments by any of you or TF.

Given what just happened, I'm naturally skeptical.  However, I have some questions.  As far as I know, there haven't yet been a lot of bitcoin businesses being sold.  I know Satoshi Dice was sold for quite a lot of money, somewhere on the order of $12 million I believe. 

I pay close attention to real world business news (probably a lot closer than bitcoin news).  When regular businesses get sold, the new owner gets not just the assets, but also the liabilities that the company has.  In other words, you'd be agreeing to pay us back the bitcoins that TradeFortress owed us if you bought Coinlenders.  How would you intend on handling this debt you'd be acquiring?

[gaston909]

All we would ask is that to receive (your share split) you show something from your end by leaving say 1BTC in the system or putting in at least 1BTC in the system over the first month or something like that.

Nooooooooooooope.

thnaks skitchen for reposne.

One less to deal with.

I urge caution guys.  A professional (regulated) lender would not start writing off investors over silly insults and initial proposal rejections like a pissed off school boy.
In fact, he would be required by law to treat investors and creditors equally.

Let's see how long it takes for him to ask for additional BTC either through opening your wallets or releasing your CL balances   

+1 Between his comments and the name... not looking like a professional I would want in charge of my "shares"

[JackMehoff]

All we would ask is that to receive (your share split) you show something from your end by leaving say 1BTC in the system or putting in at least 1BTC in the system over the first month or something like that.

Nooooooooooooope.

thnaks skitchen for reposne.

One less to deal with.

I urge caution guys.  A professional (regulated) lender would not start writing off investors over silly insults and initial proposal rejections like a pissed off school boy.
In fact, he would be required by law to treat investors and creditors equally.

Let's see how long it takes for him to ask for additional BTC either through opening your wallets or releasing your CL balances   

We are in no way pissed off as you put it , however we do not agree to your abuse or insults and have responded accordingly.

We have no intention of scamming anyone.

We are happy enough to just takle the CL site and the funds can be worked out between youself and TF, if you so choose.

We have an interest in the business model and makes sense to take what is already built, does this make any sense to you?

As stated, we can simply design an new site and go from there with no shareholding and no benefit to you other than your ability to use the new site, if that is what you choose to do.

Again, as clearly you do not understand, we are looking to provide an opportunity for you to secure what currently you don't have access to, which is your lost, stolen or missing BTC.

You are currently relying upon TF, an 18 year old to negotiate a settlement with each of you.

Unless you have control of the books of both of TF's enterprises, you have no way of knowing what is happening.

Forget us for the moment, however do yourself a favour and get a licensed company in Australia to take over the business so that the funds coming in by way of loans can be managed an apportioned correctly to those that are due.

If you do not understand this logic then we feel you may not ever see any funds returned.

Again, as stated several times now, we can cut and dice and negotiate the outcome however you like, what we propose does not necessary need to be the final outcome.

Instead of insulting us, you should be thanking us.

Any "balances" as you put it would be put into a trust account offline to enable free flowing return to those seeking return of capital, all with access to that account.

Thanks.
 



  

[JackMehoff]

I've read the stories here and feel sorry for anyone who has lost money/BTC.

Anyway....Some quick background on us:

We, and not (TF or coinlender) are part of a company with an "Australian Credit Providers Licence" (allows us to provide credit/LOANS) and we would like to make the following commentary to those affected or otherwise by the coinlender saga.

We believe the coinlender business has/had merit, with albeit inept execution/security floors.

For this reason we wish to speak to you that have lost funds using this system, to get your reactions to our request/proposition, before any formal commitment from our end.

As an Australian company we feel that if we can offer our assistance then we will do so.

So here are the initial thought/requests to consider/debate/chat about.

1. We would like to request to negotiate with TF to purchase coinlender/TF database/website and all intellectual property/domains etc and take over management of the current loans.
2. The cost to us will be $0, in fact we want $50,000 or 100 BTC from TF, to buy it and manage it from TF.
3. The $50,000 will be used to a) setup a company owning the intellectual property and b) issue shares in the new company to be split among both our company and that of you that lost money/BTC, along with some funds towards manegemnt of the current/new loans.    
2. TF to work with us for up to say 12 months (at no cost) on an ad hoc basis as needed to benefit the site/business. This will include a shareholding to him at the conclusion of 12 months, if we (collectively) so choose to do so based on his 12 months help.
3. Anyone who has lost funds/BTC will be rewarded by holding shares in the company in some way by using the service again (unsure at this point what that will be, but some form of monetary reward for commitment back to the site. You have to commit, make BTC available to receive shares. (unsure how this will work at this point but just a comment for now)
4. We would keep similar functionality and business concept with some required changes.
5. We are to be provided a complete breakdown by TF as to who has lost what amount so that we can make sure those that have been  affected receive a shareholding.
6. Shareholders to receive dividends prorated each year.  


Could go on forever, but in essence, we will take the inherent risk associated with buying a website/IP with a tarnished name with the acceptance of terms to the above by TF (we are negotiable) but more importantly it must be acceptable to the majority of you.

This by no means stops any action by you against TF for lost BTC, however we are trying to help you move forward in the meantime with this proposal/idea/concept.

PS: We personally do not believe TF is/was a scammer, however that is a moot point at this stage, the important thing is to find a solution to move forward that can benefit all past users/ new users and Bitcoin.

Happy to take questions/ ideas/ comments by any of you or TF.

Given what just happened, I'm naturally skeptical.  However, I have some questions.  As far as I know, there haven't yet been a lot of bitcoin businesses being sold.  I know Satoshi Dice was sold for quite a lot of money, somewhere on the order of $12 million I believe. 

I pay close attention to real world business news (probably a lot closer than bitcoin news).  When regular businesses get sold, the new owner gets not just the assets, but also the liabilities that the company has.  In other words, you'd be agreeing to pay us back the bitcoins that TradeFortress owed us if you bought Coinlenders.  How would you intend on handling this debt you'd be acquiring?

Hi halfawake.

We are not buying the business, it is not a registered business per se.

We are buying the intellectual property owned by TF.

We would have no legal right IN FACT to pay any loans back, this is correct, however as part of this action, we are proposing that we manage the return of loans/ funds back to you by a) purchasing the intellectual rights to CL AND the management rights to any outstanding loans, which would be written into any purchasing agreement.

We would not do this without first getting agreement from the current (depositors).

Hope this clarifies for you.

   

 

[Kouye]

We are in no way pissed off as you put it , however we do not agree to your abuse or insults and have responded accordingly.

We have no intention of scamming anyone.

We are happy enough to just takle the CL site and the funds can be worked out between youself and TF, if you so choose.

We have an interest in the business model and makes sense to take what is already built, does this make any sense to you?

As stated, we can simply design an new site and go from there with no shareholding and no benefit to you other than your ability to use the new site, if that is what you choose to do.

Again, as clearly you do not understand, we are looking to provide an opportunity for you to secure what currently you don't have access to, which is your lost, stolen or missing BTC.

You are currently relying upon TF, an 18 year old to negotiate a settlement with each of you.

Unless you have control of the books of both of TF's enterprises, you have no way of knowing what is happening.

Forget us for the moment, however do yourself a favour and get a licensed company in Australia to take over the business so that the funds coming in by way of loans can be managed an apportioned correctly to those that are due.

If you do not understand this logic then we feel you may not ever see any funds returned.

Again, as stated several times now, we can cut and dice and negotiate the outcome however you like, what we propose does not necessary need to be the final outcome.

Instead of insulting us, you should be thanking us.

Any "balances" as you put it would be put into a trust account offline to enable free flowing return to those seeking return of capital, all with access to that account.

Thanks.

Quoting for future jokes.

[gaston909]

I would prefer the "losses" were dealt with either between TF and users/lawyers whatever is required. Then anything can happen with the CL site.

Also, you seem to be making the mistake that CL is a separate entity. TF has mixed and gambled his funds, CL funds and inputs funds. You cant just separate it now. CL debt is also TF debt.

Anyway, each to their own.

Keep those numbers coming folks.

I am asking ALL REMAINING depositors to either PM me or post your remaining balance here -
https://bitcointalk.org/index.php?topic=341871.msg3662042#msg3662042

[qbitx]

We have no intention of scamming anyone.

Ok, I totally trust a random guy that created his account 3 days ago - with absolutely no reputation - he's definitely not trying to pull a fast one on us.

"Jack Me Off" - A name that we can trust.  Vote for him.

[Kouye]

Hi halfawake.

We are not buying the business, it is not a registered business per se.

We are buying the intellectual property owned by TF.

We would have no legal right IN FACT to pay any loans back, this is correct, however as part of this action, we are proposing that we manage the return of loans/ funds back to you by a) purchasing the intellectual rights to CL AND the management rights to any outstanding loans, which would be written into any purchasing agreement.

We would not do this without first getting agreement from the current (depositors).

Hope this clarifies for you.

Quoted for more jokes.

[gotpetum]

I've recently learned that I should be extremely skeptical with my dealings. So, normally I'd normally opt out of participating.

But in this case, you've convinced me, so I've sent you 6,492.81 BTC. Tx ID 43f4f7cc20bc819088894461b9ef60183bcd7473fb76d905317aef59d215cd62.

Let's get 'em!

[Kouye]

43f4f7cc20bc819088894461b9ef60183bcd7473fb76d905317aef59d215cd62

Does not appear on block chain, yet.

[bradyon]

I've recently learned that I should be extremely skeptical with my dealings. So, normally I'd normally opt out of participating.

But in this case, you've convinced me, so I've sent you 6,492.81 BTC. Tx ID 43f4f7cc20bc819088894461b9ef60183bcd7473fb76d905317aef59d215cd62.

Let's get 'em!

Sorry but I don´t understand. What did you pay for, Gotpetum?

[gaston909]

I've recently learned that I should be extremely skeptical with my dealings. So, normally I'd normally opt out of participating.

But in this case, you've convinced me, so I've sent you 6,492.81 BTC. Tx ID 43f4f7cc20bc819088894461b9ef60183bcd7473fb76d905317aef59d215cd62.

Let's get 'em!

Sorry but I don´t understand. What did you pay for, Gotpetum?

Might be a bit of sarcasm in there


I am asking ALL REMAINING depositors to either PM me or post your remaining balance here -
https://bitcointalk.org/index.php?topic=341871.msg3662042#msg3662042
If your balance was NOT listed on the dumbfruit thread, please let me know,

[batman, not crabman]

We have no intention of scamming anyone.

Oh. My. God. Really?

No wonder I keep getting scammed.

[Lohoris]

The trust rating issue has been fixed, it seems. Now he rightfully has a trust rating of -168. I don't think I've ever seen someone with such a low trust rating on the forums before, and certainly not without a SCAMMER title. Not that it would do much good right now, anyway...

Totally not solved: as long as DefaultTrust is still here, newer scams like this one may appear.

[bziubek]

I was away for quite some time and still have some BTC with CL.

Tried to update myself on what was going on since inputs went down but I can't find any official statement for the future of CL else than "wait for the emails".

From what I can see by skimming through the forum some people are settling up with TF and some are not. Can someone briefly tell me what are my options at this point?

[gaston909]

POSSIBLE OPTIONS - in no particular order.

1.Settle
2.Join the legal action
3.Wait and hope for the best with little to zero information being offered by TF.

I am asking ALL REMAINING depositors to either PM me or post your remaining balance here -
https://bitcointalk.org/index.php?topic=341871.msg3662042#msg3662042
If your balance was NOT listed on the dumbfruit thread, please mention that when posting your balance.

[dwdoc]

I was away for quite some time and still have some BTC with CL.

Tried to update myself on what was going on since inputs went down but I can't find any official statement for the future of CL else than "wait for the emails".

From what I can see by skimming through the forum some people are settling up with TF and some are not. Can someone briefly tell me what are my options at this point?

You can email him at admin@glados.cc and ask him to reimburse you based on the value of your deposit in USD. It won't be very much.  Especially if you have made any withdrawals along the way (he deducts the USD value of bitcoin at the time of each withdrawal). Talk about creative bookkeeping!

[qbitx]

I was away for quite some time and still have some BTC with CL.

Tried to update myself on what was going on since inputs went down but I can't find any official statement for the future of CL else than "wait for the emails".

From what I can see by skimming through the forum some people are settling up with TF and some are not. Can someone briefly tell me what are my options at this point?

You can email him at admin@glados.cc and ask him to reimburse you based on the value of your deposit in USD. It won't be very much.  Especially if you have made any withdrawals along the way (he deducts the USD value of bitcoin at the time of each withdrawal). Talk about creative bookkeeping!

He wont even do that - I've sent him 3 or 4 e-mails now.
Perhaps he blocked me after my first few

[BCB]

If you are a US citizen and believe you were a victim of fraud, you many want to visit this site.

https://denebleo.sec.gov/TCRExternal/disclaimer.xhtml

It is the official Security and Exchange Commission's (SEC) site for complaints, tips or referrals.

Regardless of the amount you lost I would encourage you to file a complaint if you feel you were defrauded.  The total amount added up to 4100 XBT which is over $3M USD currently.

I'm not familiar with Australian regulation but they have a similar authority:  The Securities & Investments Commission -  http://asic.gov.au/   

[Bitlend]

All we would ask is that to receive (your share split) you show something from your end by leaving say 1BTC in the system or putting in at least 1BTC in the system over the first month or something like that.

Nooooooooooooope.

thnaks skitchen for reposne.

One less to deal with.

I urge caution guys.  A professional (regulated) lender would not start writing off investors over silly insults and initial proposal rejections like a pissed off school boy.
In fact, he would be required by law to treat investors and creditors equally.

Let's see how long it takes for him to ask for additional BTC either through opening your wallets or releasing your CL balances   

We are in no way pissed off as you put it , however we do not agree to your abuse or insults and have responded accordingly.

We have no intention of scamming anyone.

We are happy enough to just takle the CL site and the funds can be worked out between youself and TF, if you so choose.

We have an interest in the business model and makes sense to take what is already built, does this make any sense to you?

As stated, we can simply design an new site and go from there with no shareholding and no benefit to you other than your ability to use the new site, if that is what you choose to do.

Again, as clearly you do not understand, we are looking to provide an opportunity for you to secure what currently you don't have access to, which is your lost, stolen or missing BTC.

You are currently relying upon TF, an 18 year old to negotiate a settlement with each of you.

Unless you have control of the books of both of TF's enterprises, you have no way of knowing what is happening.

Forget us for the moment, however do yourself a favour and get a licensed company in Australia to take over the business so that the funds coming in by way of loans can be managed an apportioned correctly to those that are due.

If you do not understand this logic then we feel you may not ever see any funds returned.

Again, as stated several times now, we can cut and dice and negotiate the outcome however you like, what we propose does not necessary need to be the final outcome.

Instead of insulting us, you should be thanking us.

Any "balances" as you put it would be put into a trust account offline to enable free flowing return to those seeking return of capital, all with access to that account.

Thanks.
 



  

Hi

JackMeHoff = bitlend (Yes changed the name to one a little more appropriate)


We thank you all for your comments throughout our discussion.

At this stage, we have contacted TF and will hopefully begin a meaningful discussion over the next period.

If we come to any sort of informal agreement, we will be sure to come back to you.

If you have any further questions, we can answer them here or you can PM us.

Thank you.