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Author Topic: [BitFunder] Moving Forward/Resolution Process  (Read 290742 times)
jimmydorry
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December 05, 2013, 04:47:03 AM
 #141

So what was this resolution process? All we know is that Neo & Bee are involved in this mess somehow now.

This is pretty piss poor management of the issue. I know that my outlook of Neo & Bee has dropped significantly as a result of this.
Maybe you are not aware of the latest zipzap deal then...
Are you one of those who dumped shares? Go @Havelock and take a look again...
Not sure why you would jump to the conclusion that I dumped shares. I am aware of the deal... but like I said, my outlook of N&B management dropped as a result of this. "Just trust me to do something with your money" from N&B does not exactly inspire confidence.

So what was this resolution process? All we know is that Neo & Bee are involved in this mess somehow now.

This is pretty piss poor management of the issue. I know that my outlook of Neo & Bee has dropped significantly as a result of this.

I really don't understand this mindset. We have a shitty situation and now have an established company stepping in to try and help resolve the issues. I've asked this before of people voicing similar opinions, but what more do you want? The fact of the matter is, people aren't able to get their coins at the moment. No amount of yelling and stomping your feet is going to change that. But then when it's stated that instead of one person (Ukyo) trying to solve the problem, we get an additional company to help as well, this is somehow seen as a negative?

If Neo & Bee somehow manage to lose more coins as a result of stepping in, then you'd have a case. But in literally any other scenario, their assistance isn't hurting anyone. Quite the opposite in fact.
What's not to understand? We have a shitty situation, and now an "established" company is stepping in to do something that they can't tell us anything about. The situation is not any less shitty, as all we know is the N&B is somehow involved (and the longer we left in the dark, the shiftier it looks). I reserve the right to point out that an announcement of an announcement of an announcement is not really helping the situation.

How do we know that N&B is helping, and in what capacity of helping should we feel more comfortable? For all we know, N&B could just be preparing to acquire WeExchange... or simply putting Ukyo in contact with another developer... what makes you think that this is automatically a positive?
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ffssixtynine
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December 05, 2013, 09:07:00 AM
 #142

One or two of us have met Danny and discussed the situation. It's not possible to say much but at worst they can't help. They certainly aren't doing anything shady or stupid.

Ignoring the WeEx issue, when buying shares in an IPO you absolutely are trusting someone with your money as you expect them to make you a profit through an increases share price, dividends, or both. Neo have said how they will do this in their prospectus. Indeed, they appear to be doing more than expected.

It's a wild assumption, and not a good one, to think that a company would then blow their cash helping someone else out or on something dodgy. I think there have been dodgy investments in the past but don't mix them up with each other.

Danny has always said he's happy to speak to people too.
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December 05, 2013, 02:36:09 PM
 #143

I can confirm that Friedcat will pay the back dividends once he has the final list from Ukyo.

Excellent news, thank you TAT.
Yes excellent news, thanks TAT, much appreciated..
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December 05, 2013, 02:44:15 PM
 #144

what makes you think that this is automatically a positive?

What makes me think that it's positive? Having personally met the team behind resolving the issue was enough for me.
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December 05, 2013, 03:53:59 PM
 #145

Ok, FF69 but however people have lost their patience, Ukyo is very mysterious and NeoBee does not provide any update, it would be great if they could even post short update in 1-2 sentences every 1-2 days. Many BTC has stuck it's not matter of 100$ at all - there is real huge amount of money behind, I'm not even suprised if some people are during preparation with lawyers few suits. I think as a mediator with NeoBee and WeEx (because in fact you took this role), you should take over it. You can't everyday calm down ppl and taking side of Ukyo and NeoBee. They should strongly understand us, as creditors and should be strongly oriented on keeping us updated.

While I understand the anxiety over retrieving funds from WeEx/BF, I don't get why there's all the concern regarding the involvement with NeoBee. NB isn't going to do anything that isn't in their shareholders best interest such as take over unsecured debts or just fall on their sword for Ukyo. Give them some credit for being wiser than that.

It should be somewhat soothing that know that an industry player is attempting to help in whatever capacity they decide upon - better that than having Ukyo going it alone and taking the pure legal path to the end, which almost definitely could be worse than it is right now.

ffssixtynine
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December 05, 2013, 05:03:15 PM
 #146

Ok, FF69 but however people have lost their patience, Ukyo is very mysterious and NeoBee does not provide any update, it would be great if they could even post short update in 1-2 sentences every 1-2 days. Many BTC has stuck it's not matter of 100$ at all - there is real huge amount of money behind, I'm not even suprised if some people are during preparation with lawyers few suits. I think as a mediator with NeoBee and WeEx (because in fact you took this role), you should take over it. You can't everyday calm down ppl and taking side of Ukyo and NeoBee. They should strongly understand us, as creditors and should be strongly oriented on keeping us updated.

Hey, n_s now also presumably knows rather more - and at least has been over to Cyprus and met the team. I haven't made a Cyprus trip yet but do plan to when the time is right.

The problem with posting an update is they can't post any information. So they can post a sentence which says no news. It doesn't help. In fact they have said there will be an update on Friday but I have no idea whether there will be meaningful news then.

All I can say is that there are very good reasons the the lack of public information. Nothing anyone says is going to make that palatable but it should be obvious why after the fact. I'm sorry Sad

As I have said a few times, I don't blame anyone for lawyering up and have suggested that if they do then they ensure their lawyer is made fully aware of neo and pref speaks to them.

I don't expect to calm some people down but hopefully I can help a few breath very slightly easier.
ThickAsThieves
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December 05, 2013, 05:18:28 PM
 #147

The chatter on both sides helps no one.
ffssixtynine
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December 05, 2013, 05:29:48 PM
 #148

The chatter on both sides helps no one.

Tat, I know you and I disagree here mate but you can't expect people to do or say nothing in this situation. You need to put yourself in the situation others are in. People aren't getting their money, that has all kinds of run on effects, there has been no explanation for some time now, etc. It's also very stressful for individuals.

Imagine you had most of your savings and shares with an entity and could no longer access them - for many weeks now. You had no information at all. What's more, you had commitments to other people based on those savings or shares (since you deal in them!). Are you going to just be quiet? No way would you. You'd be on to your lawyer quick smart. Many people here are not clued up investors so are in an even worse position hence flailing from some quarters.

So yeah, it may not 'help' in terms of moving anything forwards which you know yet others are expected to trust, but it's absolutely inevitable. In those circumstances, I for one will take some grief in exchange for calming the nerves a little of some people.

Information vacuums are very bad things. No one likes to feel powerless.
ThickAsThieves
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December 05, 2013, 05:33:10 PM
 #149

The chatter on both sides helps no one.

Tat, I know you and I disagree here mate but you can't expect people to do or say nothing in this situation. You need to put yourself in the situation others are in. People aren't getting their money, that has all kinds of run on effects, there has been no explanation for some time now, etc. It's also very stressful for individuals.

Imagine you had most of your savings and shares with an entity and could no longer access them - for many weeks now. You had no information at all. What's more, you had commitments to other people based on those shares (since you deal in them!). Are you going to just be quiet? No way would you. You'd be on to your lawyer quick smart. Many people here are not clued up investors so are in an even worse position hence flailing from some quarters.

So yeah, it may not 'help' in terms of moving anything forwards which you know yet others are expected to trust, but it's absolutely inevitable. In those circumstances, I for one will take some grief in exchange for calming the nerves a little of some people.

Information vacuums are very bad things. No one likes to feel powerless.

I have more on the line in this than the great majority, surely.

My comment stands.
ffssixtynine
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December 05, 2013, 05:37:08 PM
 #150

I have more on the line in this than the great majority, surely.

My comment stands.

No one knows what you have on the line and you likely know more than other people. You're completely missing the human element in this and only seeing it from your view point and with your knowledge.

With all due respect, expecting people to sit on their hands waiting patiently is unrealistic and unfair.

Edit: that doesn't mean they can do anything productive, I'm only commenting on the human side. Real people. Real money. Real stress.
cryptocyprus
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December 06, 2013, 08:36:18 PM
 #151

The update that I had planned for today shall now be made at noon (GMT+2) tomorrow. Sincere apologies for this, however the information that can be provided tomorrow will be much more detailed than previously expected.
jimmothy
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December 06, 2013, 09:06:05 PM
 #152

The update that I had planned for today shall now be made at noon (GMT+2) tomorrow. Sincere apologies for this, however the information that can be provided tomorrow will be much more detailed than previously expected.

Thanks for the update on the update. Should we expect this next update to finally give us info regarding the actual problem/solution?
VolanicEruptor
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December 07, 2013, 12:46:43 AM
 #153

"Hey, we are looking for a buyer, and by the way, we have yet another security hole! But please buy us!"

Was BitFunder ever able to not be a failure?

Yeah BF is a disaster..
It's so easy to point out all these scams and failures around us!  We're racking up a lot of points!   Grin fuck we're awesome..
 

pascal257
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December 07, 2013, 01:00:25 AM
 #154

The update that I had planned for today shall now be made at noon (GMT+2) tomorrow. Sincere apologies for this, however the information that can be provided tomorrow will be much more detailed than previously expected.

Thanks for the update on the update. Should we expect this next update to finally give us info regarding the actual problem/solution?
My guess is that it will be already known information and they'll most likely tell us, that we won't get our coins back this year.
supermono
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December 07, 2013, 01:30:51 AM
 #155

My guess is that it will be already known information and they'll most likely tell us, that we won't get our coins back this year.

Fortunately, this year will be over in 3 1/2 weeks anyway.

Not that I will be happy to hear if they do announce that it will be January before they can send out the funds. But to put things in perspective, I would be thrilled if TradeFortress were to reappear and announce that he has secured the means to send full refunds to all Inputs.IO and CoinLenders users and BTCInvest shareholders on January 1. So, the situation with BitFunder/WeExchange/Ukyo is not as bad as it could be...
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December 07, 2013, 01:48:17 AM
 #156

"Hey, we are looking for a buyer, and by the way, we have yet another security hole! But please buy us!"

Was BitFunder ever able to not be a failure?

Yeah BF is a disaster..
It's so easy to point out all these scams and failures around us!  We're racking up a lot of points!   Grin fuck we're awesome..
 

Ala, if only the internet awarded people troll points. https://bitcointalk.org/index.php?topic=181311.0 - integrate it into the forums, reddit, etc. Everytime that ignore button gets hit, the trolls get more trollcoins - they might even get enough to move out of the basement.

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December 07, 2013, 09:40:56 AM
 #157

we don't need a detailled update we just need to know two things:

1. Will we get our BTC back?
2. When will that happen?

Detailled update means that there will just be an explaination why we can't get our coins atm.


 
 
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julz
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December 07, 2013, 10:14:59 AM
 #158

So I just logged into bitfunder - and it shows a withdrawal of all my bitcoins dated: 2013-12-05 22:42:50
- and *no* assets.

I have google 2 factor authentication enabled.

Does anyone elses account show something like this?

edit: ok - I see assets were transferred to issuers... but what about the BTC?
edit2:..  and.. the btc are showing on weexchange.  Ok.. sorry to panic!

@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
cryptocyprus
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December 07, 2013, 10:52:59 AM
 #159

Apologies for the slight delay in getting this information out.

Jon (Ukyo) is now here with me in Cyprus to ensure this problem is resolved for everyone involved.

The bitcoins are simply not there anymore, we are continuing to work through the implementation of a number of solutions to correct the issue. We are hoping to have one of many very important announcements before the Christmas holidays that will enable the bitcoins to be returned to those that are owed, however the run up to the holiday period may cause delays in some aspects.

The solution will take time to pay everyone in full however, there will be no preferential payments and the payments will be distributed proportionally.

A full explanation as to why the bitcoins are no longer there, will be provided as soon as we possibly can.

Neo & Bee has no exposure to the liabilities of WeExchange. The solution will enable Neo & Bee and all of those involved in Bitcoin to benefit greatly in the future.
jimmothy
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December 07, 2013, 10:57:57 AM
 #160

Apologies for the slight delay in getting this information out.

Jon (Ukyo) is now here with me in Cyprus to ensure this problem is resolved for everyone involved.

The bitcoins are simply not there anymore, we are continuing to work through the implementation of a number of solutions to correct the issue. We are hoping to have one of many very important announcements before the Christmas holidays that will enable the bitcoins to be returned to those that are owed, however the run up to the holiday period may cause delays in some aspects.

The solution will take time to pay everyone in full however, there will be no preferential payments and the payments will be distributed proportionally.

A full explanation as to why the bitcoins are no longer there, will be provided as soon as we possibly can.

Neo & Bee has no exposure to the liabilities of WeExchange. The solution will enable Neo & Bee and all of those involved in Bitcoin to benefit greatly in the future.

Literally no new info as was expected. Well besides the confirmation that the bitcoins are completely gone. Thanks for giving us an update on an update again. Seriously this has to be a joke. Just tell us what happened to the coins.
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