HeRetiK
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Playgram - The Telegram Casino
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November 22, 2013, 09:01:15 PM |
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something I could never figure out about the coin lenders model, was when you get a bitcoin evaluation event, as we have seen recently from 150 - 700 or about that , how would a person who has taken out a loan cover that (except in mining, and we all know how that always works out), as in any other asset/investment class its going to be hard to pay the loan rate plus 400%. The maths of this just does not add up, yet alone a person would ever even believe they could pay this back. I raised this issue with TF before all of this went down. Essentially you need a re-insurer with coins to back your coins
From the Coinlenders site: Currency Risk We only touch bitcoins. We don't generally invest in USD, and when we issue loans we look at people or businesses who would be least affected by exchange rate movements. For example, a trader who sells BTC for fiat and converts it back to BTC rapidly is better than someone who needs funds to fund a carpentery project. As such, CoinLenders is not subject to currency risk. This is essential in such a volatile currency. Welp, so much for that.
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ninjaboon
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Activity: 2128
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November 23, 2013, 08:52:42 AM |
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I got 14.9353 back of my 150.42268196 CL balance (10%). I consider this a minimal down payment and that he still owes me the other 90% plus the remaining balance due on my Inputs account. It is not up to him to decide how much he owes us. It is up to a civil court to decide that.
TF still owes you 90% balance? darn, karma is looking for him.
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ninjaboon
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November 23, 2013, 08:53:25 AM |
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Who does still have coins in cl and is willing to do something about it? I have about 300 in there. Where are the other ones with many coins? ..Lets work together! I already got some information. PM me
Hi shangata, mentioned you here: https://bitcointalk.org/index.php?topic=341871.0;allI've 494.83919957 BTC in Coinlenders (2 accounts) & 77.5 BTC for 250 shares of BTCInvest. that's a lot of BTC> I still have 75.23 stuck in Coinlenders and have not settled.
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gaston909
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November 23, 2013, 02:29:25 PM |
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The hack is "paid" for probably even more than paid for. Now he needs to explain where the remaining 5437.10876724 is. I find it hard to believe he lost all of it. 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 you were not listed on this old thread, please say so when posting.
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ittyBTCy
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November 23, 2013, 07:02:15 PM |
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Not sure if I belong here or not, but I was in 2.24 BTC for 16 Shares of BTCINVEST at Bitfunder.
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clock27
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November 23, 2013, 07:08:01 PM |
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the rumor floating around the community is he did it to himself i don't know if i believe it or not but my BTC's from both coinlenders and inputs will never be recovered since i was one of the people banned from coinchat for participating in a different chat room at the same time and just being friends with people from there granted the total BTC is less than .01 combined from both sites but still ive been utterly ignored when i tried to regain my BTC i hope he enjoys spending my money since he won't give it back and i feel sorry for anyone who's not going to get anything back from him because he's supposedly only paying people back who had balances over 1BTC when a legitimate business owner would refund 100% to everyone
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Bugpowder
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November 23, 2013, 07:54:37 PM |
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Essentially you need a re-insurer with coins to back your coins
NO. No no no no no. The reinsurance scam has already used to great effect with insurance of pirate-pass thru funds, etc. Guess how all those schemes ended. The only solution is to NEVER loan your coins to anyone. It never ever ever makes sense.
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C10H15N
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November 23, 2013, 10:27:03 PM |
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The members of the community I trust believe it was an inside job (long con). I feel really bad for those who had more BTC entrusted to TF than they could afford to lose.
Time for me use this as a learning experience and move on.
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Only when the tide goes out do you discover who's been swimming naked. -Warren Buffett
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manort
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November 24, 2013, 12:57:31 AM |
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Hi all,
Just my 2 cents again, but there is a lot of speculation about this being an inside job or that TF is sitting on a huge pile of loans that will be paid leaving him a millionaire.
First, I don't think this is a long con since if it was, why stick around, pay back a large amount of coins (even if it is pennies on the dollar) and let us all rail at him. This guy is an arrogant programmer with poor interpersonal skills. He is not a businessman and has no idea of his missed opportunity here.
Also, he isn't as good a programmer as he thought since he left a gaping hole in his security and then in his arrogance didn't move to protect his, and our, assets once the hack started. Criminal negligence, really.
Also, the information that came out after the hack makes it look like CL was in trouble even before the hack. Probably because of the run up in price, but ASICMINER shares were not proving to be the security that he, and we, thought they would be. The people he lent to were short on BTC themselves and became hard to contact and hard to collect from. I think that TF was hoping to cover costs with new deposits and then get everything sorted in the future, which is how a ponzi schemes get started.
The hack just short circuited the process. I am not sure how much a lawsuit is going to recoup for us, but at the very least we will find out what was really going on the backend of CL and Inputs and, most importantly, TF's identity. Someone who has done this should not be trusted in the community again
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dwdoc
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- - -Caveat Aleo- - -
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November 24, 2013, 07:06:10 PM Last edit: November 24, 2013, 10:42:26 PM by dwdoc |
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Bobbycoolguy
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November 25, 2013, 02:44:51 AM |
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I got 80.3 bit coins tied up with tf No replays since the first week of the hack
Has anyone thought he might of committed suicide samurai style
...?
Like if he didn't scam us all It would be pretty sad
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C10H15N
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November 25, 2013, 03:47:15 AM |
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^^^ - That would require integrity and honor.
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Only when the tide goes out do you discover who's been swimming naked. -Warren Buffett
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Bobbycoolguy
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November 25, 2013, 05:30:56 AM |
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No doubt..
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ninjaboon
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November 25, 2013, 06:25:19 AM |
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I got 80.3 bit coins tied up with tf No replays since the first week of the hack
Has anyone thought he might of committed suicide samurai style
...?
Like if he didn't scam us all It would be pretty sad
I don't think so.
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tvbcof
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November 25, 2013, 06:43:36 AM |
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^^^ - That would require integrity and honor.
You are never going to shame a successful scammer by using such words, but you can talk yourself blue trying. I think a scammer rates himself by what his take was and nothing more. Such things as 'honor' and 'integrity' are stupid concepts for stupid people (aka, 'marks'.) It took me a while to recognize this.
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sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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Martijnvdc
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November 25, 2013, 08:09:07 AM |
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No way he committed suicide. He's probably afraid of that lawsuit...
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tantanbit
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November 28, 2013, 03:36:41 AM |
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i remeber i.ve replied , but can,t find .me about 72.5BTC on CL ,no response
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