Shades Minoco / Shakaru / Collections / Debt

[payb.tc]

i'm also happy for imsaguy to mediate... thank you.

can use 1Amw6UEAx8TovmRHg2vDeTW516cmXDCAgh for me.

[jamesg]

i'm also happy for imsaguy to mediate... thank you.

can use 1Amw6UEAx8TovmRHg2vDeTW516cmXDCAgh for me.

+ 1 for imsaguy.

13UD5EbMjvp6YduTQ6FsUjEfi9LTwxE9gy

[shakaru]

Im happy with imsaguy as well. He has proven to e a trustworthy and valuable member of the community.

Looks like I will make some btc today. First payment should be coming today! (based on other variables)

10btc sent to imsaguys holding account.
82f4708693dcba98ae7ddf453f1ecb66d0224414184714c53da478f748589772)

[bitfoo]

+1 for imsaguy.

BTC address for repayment: 1E269gXpDoGT5bF2NnBqFHqrq4AJ1fU9rf

The number of mining days I've lost is 85 so far, and with 10 days of my contract remaining I'm getting 600Mh/s out of 2GH. So my estimated total lost at the end of my contract is 92 days of 2 GH/s mining. (92 / 183) * 750 USD = 377 USD due.

One thing I disagree with is fixing the debt in BTC based on the current exchange rate. There are essentially two options for repayment: (1) repay the expected output of each mining contract, in which case the amount should be fixed in BTC regardless of exchange rate, or (2) refund the initial USD paid for the contract. I believe most of us have chosen (2), since it reduces shakaru's debt load at the current BTC rates. But in this case, I think we should keep the amount owed in USD, and every time some BTC is paid back, use the spot price to determine how much the debt has been reduced by. Keeping the debt in BTC is risky for shakaru if BTC rates shoot up, or vice versa if BTC crashes.

[Bitsinmyhead]

I'm cool with imsaguy.
Repayment address: 1MgDWoLM6ZuvkrahRgmpMiyBax67Dtgxkm

[imsaguy]

Shakaru, do you have mining capabilities right now?  If so, what is your hashrate like?

[shakaru]

Shakaru, do you have mining capabilities right now?  If so, what is your hashrate like?

Zero as of right now. I have everything but this desktop and thats a 3x5770, boxed up. There is about 3-5 ghs of working hardware in th 4u enclosures.

[imsaguy]

Shakaru, do you have mining capabilities right now?  If so, what is your hashrate like?

Zero as of right now. I have everything but this desktop and thats a 3x5770, boxed up. There is about 3-5 ghs of working hardware in th 4u enclosures.

ok, I didn't know if you were working anything off that way. 

[shakaru]

Shakaru, do you have mining capabilities right now?  If so, what is your hashrate like?

Zero as of right now. I have everything but this desktop and thats a 3x5770, boxed up. There is about 3-5 ghs of working hardware in th 4u enclosures.

ok, I didn't know if you were working anything off that way. 

No, and I am having all btc transaction that done have other parties involved go directly to your funds address. Currently tossed up a giftcard from my wallet on the goods section. Winner will pay directly to you.

[malevolent]

I'm okay with imsaguy

1Had6sXS7dZNCGiHm1LmX4shEYmieWcf3E

I'd just like to ask him to look up mtgox exchange rates few minutes before sending payments and adjust them accordingly.

I have bought a 2GH/s 6 month contract from shakaru in August, got back most of the money in October (I only asked for the amount I paid him, not the expected output of the contract) but there is $200 still left. So if BTC falls to $3 I'd like to get 66.66666666 BTC, if it increases to $10 I'd like to get 20 BTC, so only the exact amount. It is also because I did not pay him in BTC but with with USD by PayPal.
If the price increased to $10, shakaru would owe over twice as much money and it would take even longer to repay. Of course if it decreased it would be quicker but we would all get less money (cpt. obvious).
As I was one of the first to send him the money for a contract that was not delivered and the amount left is now little, I asking to be (one of) the first to get paid.

[shakaru]

I'm okay with imsaguy

1Had6sXS7dZNCGiHm1LmX4shEYmieWcf3E

I'd just like to ask him to look up mtgox exchange rates few minutes before sending payments and adjust them accordingly.

I have bought a 2GH/s 6 month contract from shakaru in August, got back most of the money in October (I only asked for the amount I paid him, not the expected output of the contract) but there is $200 still left. So if BTC falls to $3 I'd like to get 66.66666666 BTC, if it increases to $10 I'd like to get 20 BTC, so only the exact amount. It is also because I did not pay him in BTC but with with USD by PayPal.
If the price increased to $10, shakaru would owe over twice as much money and it would take even longer to repay. Of course if it decreased it would be quicker but we would all get less money (cpt. obvious).
As I was one of the first to send him the money for a contract that was not delivered and the amount left is now little, I asking to be (one of) the first to get paid.

I already added you to the list already.

[imsaguy]

One thing I disagree with is fixing the debt in BTC based on the current exchange rate. There are essentially two options for repayment: (1) repay the expected output of each mining contract, in which case the amount should be fixed in BTC regardless of exchange rate, or (2) refund the initial USD paid for the contract. I believe most of us have chosen (2), since it reduces shakaru's debt load at the current BTC rates. But in this case, I think we should keep the amount owed in USD, and every time some BTC is paid back, use the spot price to determine how much the debt has been reduced by. Keeping the debt in BTC is risky for shakaru if BTC rates shoot up, or vice versa if BTC crashes.

You're probably right.  Whatever the initial form is/was, that's how a person will be paid out.  I don't think we should use ppusd payouts at this point, so I'll use mtgoxusd coupons instead.  If anyone has any objections, please air them.

[malevolent]

I already added you to the list already.

I know, just wanted to post my BTC address for imsaguy and for everyone so we can see who got paid, and state that I don't want to gamble on volatility of USD/BTC exchange ratio and want exaclty $200.

[payb.tc]

even though i previously said any amounts should be equally distributed, i think under a certain threshold is fine just to pay off the smaller ones...

eg. i'm happy for this first 10 BTC just to clear nuke's debt.

[bitfoo]

You're probably right.  Whatever the initial form is/was, that's how a person will be paid out.  I don't think we should use ppusd payouts at this point, so I'll use mtgoxusd coupons instead.  If anyone has any objections, please air them.

Well, payments can still be made in BTC to each person - it's easier, publicly auditable, and I'm guessing everyone prefers BTC. What I meant is that the value of the debt should be kept in USD. (Eg: If shakaru paid 10 BTC just now, he now owes $47.50 less).

[payb.tc]

You're probably right.  Whatever the initial form is/was, that's how a person will be paid out.  I don't think we should use ppusd payouts at this point, so I'll use mtgoxusd coupons instead.  If anyone has any objections, please air them.

Well, payments can still be made in BTC to each person - it's easier, publicly auditable, and I'm guessing everyone prefers BTC. What I meant is that the value of the debt should be kept in USD. (Eg: If shakaru paid 10 BTC just now, he now owes $47.50 less).

i disagree. you can't generalise and say he owes $47.50 less, when some debts (maybe only mine) are BTC only.

imsaguy would have to make a call on the distribution of the 10 BTC first, and then say for example he owes me 1 BTC less and everyone else $4 less or whatever it works out to be.

[imsaguy]

I'm not inclined to pay the 10 btc first, even though it is small.  The burden should be shared proportionally amongst all. Its a bit more tedious having more payees, but I feel it is the most fair.

[bitfoo]

Well, payments can still be made in BTC to each person - it's easier, publicly auditable, and I'm guessing everyone prefers BTC. What I meant is that the value of the debt should be kept in USD. (Eg: If shakaru paid 10 BTC just now, he now owes $47.50 less).

i disagree. you can't generalise and say he owes $47.50 less, when some debts (maybe only mine) are BTC only.

imsaguy would have to make a call on the distribution of the 10 BTC first, and then say for example he owes me 1 BTC less and everyone else $4 less or whatever it works out to be.

Yes, of course, if you and shakaru agreed to fix the debt amount in BTC, that would work too. Incoming BTC can be distributed by converting all USD-denominated debts to BTC amounts at spot price and then distributing the new BTC proportionately. There will also be strange effects, like if BTC goes up, you'll get paid higher proportions, and if BTC goes down, the USD debts will get paid faster.

But this is definitely risky for shakaru if BTC goes up in value.

[dollartrader]

payment address for the record:

14HGYy23W7pk6UtaN9a3mijejtLR25ef2e

[ermsam]

Putting in my support for imsaguy.
1BV7axeajeoVEU3qxwRJtsw4Zy6AEVED6C

Also a question for Andrew: what is the value of SDM's current assets, if any?