Shades Minoco / Shakaru / Collections / Debt

[dollartrader]

Would like to get a full list of services, leases, products, basically any debt due by Shakaru. If you have a mining contract, loan, service or product due to you by forum user Shakaru, respond in this thread and I'll update this initial post. If you have a partially fulfilled contract, loan or service, list the remaining amount due.

Mining lease value, I used this calculator so understand these are approximate values and meant only for consistency. Actual mining values would vary. http://tpbitcalc.appspot.com/

Edit: imsaguy has put the spreadsheet on google docs: Thanks!

https://docs.google.com/spreadsheet/ccc?key=0AnzolfvAaL97dGlQZjZmcFMwTzlmbWJNUHdyZnM4M2c#gid=3

[1713522755]

1713522755

[1713522755]

1713522755

[1713522755]

1713522755

[Nefario]

He sold mining shares/contracts on GLBSE

https://bitcointalk.org/index.php?topic=37981.0

Is this related to it?

[brendio]

He sold mining shares/contracts on GLBSE

https://bitcointalk.org/index.php?topic=37981.0

Is this related to it?

Nefario, are you able to represent the interests of shareholders of this asset rather than each shareholder being listed in the op? It would make sense to be represented as a whole since there is no easy way to prove ownership.

[payb.tc]

6 months @ 20 GH/s starting from about september 2011... i haven't looked at the historical data to calculate how many BTC that should have yielded, but maybe someone can help me out with that (point me to some reliable historical calculator).

my guess is approx 2500 btc but really it's a wild guess, i don't really know.

shakaru has been good about paying small amounts but it's still 99% of it owing.

[jamesg]

Andrew still owes 67.41 BTC from a 100 btc loan I made to him after the astana ordeal.

I am willing to forgive the interest (15 btc) to help him out but he must repay the remaining balance on the original loan which totals 52.41 btc.

Best,
gigavps

[payb.tc]

i too am willing to forgive the profit portion if shakaru is able to settle for 1800 btc which was my original investment.

[dollartrader]

Same here, willing to cancel the contract and receive my initial value back.

As for GLBSE, I think it could be listed as total IPO value? Not sure any mining operations were ever completed under the GLBSE release?

[copumpkin]

Out of curiosity, where does Deslok fit into all of this? The Shades Minoco business was supposedly a collaboration between him and shakaru, so why is the thread concentrating on shakaru? Is Deslok not involved anymore?

[jamesg]

Out of curiosity, where does Deslok fit into all of this? The Shades Minoco business was supposedly a collaboration between him and shakaru, so why is the thread concentrating on shakaru? Is Deslok not involved anymore?

This is not the case with my loan as far as I am aware. I only dealt with shakaru to fund the loan.

[dollartrader]

fwiw: I'm not sure of the legal details but I do have a PM from Shakaru claiming all responsibility for the Mining Company's problems and it's debts.

Out of curiosity, where does Deslok fit into all of this? The Shades Minoco business was supposedly a collaboration between him and shakaru, so why is the thread concentrating on shakaru? Is Deslok not involved anymore?

[shakaru]

I will gladly verify anyone claims on here. Also, weill gladly refund anyone and everyone.
When I started SDM, I saw nothing but the sky as the limit. But when hardware issues and scammer issues hit, that dream was quashed.
I not going to leave the btc community, but the SDM mining venture needs to come to a close and resolution.

To the GLBSE issue. No one ever cashed in the 1000 shares for a contract, and I dont think even that many sold of the initial IPO.

At this point, any inbound btc will just go right back to the original parties. Hardware will be liquidated (most likely through ebay/craigslist as that is where the most return is. Selling a 5770 for $110 is far better than $65).
I will continue to operate as a rig builder, consultant, agent for coding/software, and any other method that can help bring in more btc to refund.

After that is done, I get to sue Paypal for the damages they have caused in violating their own rules for charge backs despite proof of shipment on one transcation and then the ever so awsome Astana scam from ealier this year that I got hit for.

I spoke to Maged ealier about shutting down SDM when the paypal issue became a problem once again. At that time I told him that if this could not be fixed, I would be handleing it as such.

I would like to take this moment to first thank the btc community as a whole for the support and encouragement that I have received throughout this whole messed up venture. I made some great friends out of it, had some good times as well as the bad. Even nearly died one night when a Gd70 board tried to fry me. But with all of that, I have recived far more support than blasating when things went bad. For that I thank you.

So with all of that I will be posting updates. I will be on the forum daily. I have even gone as far as to move into a much smaller home to cut my living expenses drastically. One thing that is for sure is that due to my knowledge of systems, I have secured a contract build for a 3d render farm that 100% of the profit will be going to the contract holders for a refund. I have contacted a few of you as consultants on this build so I know a few of you already know this.

Any questions?

Edit: Due to me having 95% of my belongings and the equipment in boxes and part in storage. Liquidation will start around 3/7-3/10 when I can organize and figure out the best way to move it. I will suggest that I turn the machines with the 5770s, the AthII and foxcon boards into hackintosh as I sell them on CL for 400-600 a piece.

Second edit:
Malevoant: remaining refund $200usd
Nuke: 48btc remaining refund

[shakaru]

Out of curiosity, where does Deslok fit into all of this? The Shades Minoco business was supposedly a collaboration between him and shakaru, so why is the thread concentrating on shakaru? Is Deslok not involved anymore?

Deslok is not involved with SDM any more than a consultant. He and I started this together when we were really small, but the main operations were all done by me. The power were deslok lives is not cheap enough to allow profitable operation. I will take ALL responsibility in this.

[dollartrader]

I do not believe you to be a scammer in the true sense of the word. Your intentions were good (IMHO) but felt it was time to bring the issue to light. To beat a dead horse, an endless string of excuses and procrastinations have led us here. I wish you the best of luck.

If you begin inventory on or about 3/7, when do you expect to start paying out. I believe the original post to be far from a complete list and I am sure there will be those who will not post due.

What is your plan to pay back? i.e. incoming is spread equally amongst the debtors? FIFO?

Edit: If you have guaranteed functioning mining equipment, list it here. I am willing to take hardware as payment.

[shakaru]

No, the people in the orig post are two I can name off the top of my head that have been partially refunded already. I will have to pull records up for everyone and totals, but that will require unboxing and some time.

As far as payout, my intentions are fund btc via Bitinstant imediatly after any sale. And as far as repayment, I belive to spread payment out equally is best. On the two I listed above, they are the smaller repayments and it may be best to clear thoese two up faster than the others to limit the total number of people involved.

I will be thinking about all of this over night and read replies in the morning .

[payb.tc]

it may be best to clear thoese two (smaller debts) up faster than the others to limit the total number of people involved.

i think this is unfair because it means the more you have invested, the longer you have to wait.

so i'd get paid last even though i invested rather early.

[shakaru]

it may be best to clear thoese two (smaller debts) up faster than the others to limit the total number of people involved.

i think this is unfair because it means the more you have invested, the longer you have to wait.

so i'd get paid last even though i invested rather early.

Only a suggestion. If you feel its unfair, then we wont go that route.

[payb.tc]

it may be best to clear thoese two (smaller debts) up faster than the others to limit the total number of people involved.

i think this is unfair because it means the more you have invested, the longer you have to wait.

so i'd get paid last even though i invested rather early.

Only a suggestion. If you feel its unfair, then we wont go that route.

well, i think bitcoin is one currency where it's a lot easier to pay a fairly distributed % to everyone, because you've got so many decimal places to work with

[dollartrader]

I edited one of my posts above but it may get missed:

If you have guaranteed functioning mining equipment, list it here. I am willing to take hardware as payment. Can you list that hardware once inventoried?

[bitfoo]

I had a 6 month 2GH/s contract starting in Aug 2011. The contract has been (and is still being) partially fulfilled. As per agreement with shakaru, I keep account of the daily shortage in hash-rate and corresponding BTC owed. As of today, I'm owed exactly 132.5 BTC and 12 days of remaining mining time.

[brendio]

it may be best to clear thoese two (smaller debts) up faster than the others to limit the total number of people involved.

i think this is unfair because it means the more you have invested, the longer you have to wait.

so i'd get paid last even though i invested rather early.

Only a suggestion. If you feel its unfair, then we wont go that route.

well, i think bitcoin is one currency where it's a lot easier to pay a fairly distributed % to everyone, because you've got so many decimal places to work with

Should we get in a third party liquidator? Someone who has no debts owing and is trusted and has attention to detail can receive the funds from Shakuru, distribute them among creditors and report the details in this thread.