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NotLambchop
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June 09, 2014, 01:53:41 AM |
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thefunkybits, of course you're not getting the full BTC value back. Nor are you getting the generous nickel/share from Ken. That's why CT price is less then one penny per share. If you think a penny per share is too low, a great chance for you to make some serious cheddar  |
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Phildo
Legendary
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Activity: 1526
Merit: 1000
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June 09, 2014, 01:59:35 AM |
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There is no official ruling yet. Will probably take a while for it to even get started.
This. We all knew a ruling would be coming eventually, the sooner we receive clarity the better IMO. I can't see how an MSD fine + reimbursement will be the end of this company as these fines haven't even been issued and won't have to be paid for months. The Woodlaw suit is troubling, but as far as i see it this will be limited to customers, not shareholders. When MSD officially gives us a ruling shareholders will be pissing in the wind trying to get more back per share than what the ruling states if they don't feel like holding on or being reimbursed. I don't understand how anyone seriously thinks they will be getting fully reimbursed in BTC value by filing shareholder lawsuits etc. If you can't handle the downside risk of an investment that's your fault. When MSD ruling becomes official, trying to step outside that will be useless (please explain your thinking if you disagree) I'm not sure if a full refund is possible, but this isn't just a regular old investment gone bad. Ken is literally burning money. Checking out the CEO is probably something you should do and part of the risks with investing in things, but that doesn't give the CEO the right to waste the money. If people think that there was fraud, they have a right to try and do something about it. |
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lobbes
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June 09, 2014, 02:20:13 AM |
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...
If you can't handle the downside risk of an investment that's your fault. When MSD ruling becomes official, trying to step outside that will be useless (please explain your thinking if you disagree) I'm not sure if a full refund is possible, but this isn't just a regular old investment gone bad. Ken is literally burning money. Checking out the CEO is probably something you should do and part of the risks with investing in things, but that doesn't give the CEO the right to waste the money. If people think that there was fraud, they have a right to try and do something about it. Agreed. The crucial difference here is that Ken was both deceptive and negligent in the way he went about this venture. You could argue 'caveat emptor,' but I don't think that should excuse someone like Ken from this type of action. Nor should that invalidate people trying to recoup what they lost. |
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thefunkybits
Legendary
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Activity: 1218
Merit: 1000
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June 09, 2014, 02:53:19 AM |
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Looks like Ken is back online... ANNOUNCEMENT:
We will soon start refunding all of our Pre-Order customers that have requested a refund and have not received their refund. We will be refunding the pre-order amount converted to BTC @ the coinbase current sell price. Our pre-order customer will have to agree to being refunded in BTC. We will post in about 1 week an agreement to be refunded in BTC. Should a pre-order customer wish to receive their refund in USD we will also do those refunds after the BTC refunds.
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JoTheKhan
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June 09, 2014, 03:10:50 AM |
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ANNOUNCEMENT:
We will soon start refunding all of our Pre-Order customers that have requested a refund and have not received their refund. We will be refunding the pre-order amount converted to BTC @ the coinbase current sell price. Our pre-order customer will have to agree to being refunded in BTC. We will post in about 1 week an agreement to be refunded in BTC. Should a pre-order customer wish to receive their refund in USD we will also do those refunds after the BTC refunds.
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drasted
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June 09, 2014, 03:19:53 AM |
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We will soon start refunding...
Haven't heard that one before |
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Phildo
Legendary
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Activity: 1526
Merit: 1000
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June 09, 2014, 03:33:37 AM |
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Looks like Ken is back online... ANNOUNCEMENT:
We will soon start refunding all of our Pre-Order customers that have requested a refund and have not received their refund. We will be refunding the pre-order amount converted to BTC @ the coinbase current sell price. Our pre-order customer will have to agree to being refunded in BTC. We will post in about 1 week an agreement to be refunded in BTC. Should a pre-order customer wish to receive their refund in USD we will also do those refunds after the BTC refunds.
A bitcoin base company using bitcoin for the exact purpose it was created to serve? What a novel idea. Now we need to ask how Ken is able to refund people today that he wasn't able to refund a month ago and if recent events have caused this change of plans. |
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thefunkybits
Legendary
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Activity: 1218
Merit: 1000
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June 09, 2014, 03:47:08 AM |
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Now we need to ask how Ken is able to refund people today that he wasn't able to refund a month ago and if recent events have caused this change of plans.
Have you been paying attention to sales of the Gold Rush? |
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Jasun7211
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June 09, 2014, 03:58:57 AM |
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500 freakin satoshis.  |
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PurpleTentacle
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June 09, 2014, 06:55:06 AM |
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500 freakin satoshis. 250 freakin satoshis. 100 freakin satoshis. 50 freakin satoshis. 10 freakin satoshis. 1 freakin satoshi. There, you won't have to post for the next month. |
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redmetal
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June 09, 2014, 09:25:26 AM |
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I hate to say this, but it looks like Ken may be dumping his shares slowly, who on earth otherwise sells 200k shares at a time?
By my count over 1mil have been dumped recently, some in large chucks 100k, 200k and a 400k drop.
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kokoarm
Newbie
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Activity: 42
Merit: 0
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June 09, 2014, 09:50:32 AM |
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once the refunds are done there will be no money left.
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HardwareReviewer
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June 09, 2014, 09:55:24 AM |
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We will post in about 1 week an agreement to be refunded in BTC
Why wait a week? Buying time and probably waiting for the BTC price to rise further...
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Prepare to enter a world of stress
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drasted
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June 09, 2014, 10:03:12 AM |
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Why wait a week?
Because it's Ken. |
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VinceSamios
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June 09, 2014, 10:31:51 AM |
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I hate to say this, but it looks like Ken may be dumping his shares slowly, who on earth otherwise sells 200k shares at a time?
By my count over 1mil have been dumped recently, some in large chucks 100k, 200k and a 400k drop.
Ken doesn't have any tradable shares AFAIK - he gave the tradable shares he owned to peoples ASIC I believe. He certainly doesn't have 1mil tradable shares. |
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kokoarm
Newbie
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Activity: 42
Merit: 0
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June 09, 2014, 11:21:31 AM |
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ken can have as many shares as he wants. he can put 50million shares up if he wants he's the ceo. The only thing that could stop that would be CT checks - and they might not have any in this area.
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VinceSamios
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June 09, 2014, 12:50:12 PM |
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The ActM Thread account has been locked down - only two of us have access. So the shenanigans will stop.
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Phildo
Legendary
Offline
Activity: 1526
Merit: 1000
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June 09, 2014, 12:52:53 PM |
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Now we need to ask how Ken is able to refund people today that he wasn't able to refund a month ago and if recent events have caused this change of plans.
Have you been paying attention to sales of the Gold Rush? Why would I pay attention to numbers on a website that lists products that were canceled months ago? And even if sales went through the roof, why should the people who ordered weeks ago and have heard nothing expect things to change now? |
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drasted
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June 09, 2014, 01:17:53 PM |
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The ActM Thread account has been locked down - only two of us have access. So the shenanigans will stop.
Can I ask who has access to it? |
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JoTheKhan
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June 09, 2014, 01:21:43 PM |
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The ActM Thread account has been locked down - only two of us have access. So the shenanigans will stop.
Can I ask who has access to it? Probably Vince and Kleeck. |
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