BTCurious
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October 02, 2012, 09:34:56 PM |
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hundreds of bitcoins "lost" later..... Actually, he got screwed on a couple of investments. He put a lot of time and effort in, and things were actually going very well before all investments as a whole went bad. When that happened, he voluntarily forewent his share of the profits for a number of weeks. He's one of the few investors I know that actually operated the fund in a transparent and clear way, trying to do what was right for the investors. Of course, you could have also invested in a less transparent venture, like pirate, or hashking, or whatever other investment that went total bankrupt…
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jimbobway
Legendary
Offline
Activity: 1304
Merit: 1015
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October 02, 2012, 09:54:02 PM |
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Gamma said he would process withdraws in the order they were received. He should commit to this since I withdrew well before the closing of the fund.
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Bitcoin Oz
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October 02, 2012, 11:08:56 PM |
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hundreds of bitcoins "lost" later.....
I hope you all know that basically DeadTerra used you guys to fund his gambles with you guys taking all the risk and paying for it during the down weeks while he skimmed off the positive weeks. Cheers DeadTerra, congratulations.
Thats hardly fair. The entire deposit and securities market has collapsed and glbse is facing an SEC investigation. There is further loss of confidence because of other things going on with glbse as well. If you are only invested in mining people face losing 50% of their return with the block halving also so its better to buy in after that event, if at all.
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Lord F(r)og
Donator
Sr. Member
Offline
Activity: 477
Merit: 250
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October 03, 2012, 01:08:13 AM |
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hundreds of bitcoins "lost" later.....
I hope you all know that basically DeadTerra used you guys to fund his gambles with you guys taking all the risk and paying for it during the down weeks while he skimmed off the positive weeks. Cheers DeadTerra, congratulations.
This way of fund management, regarding to transparency and communication, is way ahead of recent events. I loved to invest in GBF until some greedy, so called individuals teared a deep black hole into btc. Thanks for that, bitches.
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Bitcoin Oz
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October 03, 2012, 03:39:23 AM |
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hundreds of bitcoins "lost" later.....
I hope you all know that basically DeadTerra used you guys to fund his gambles with you guys taking all the risk and paying for it during the down weeks while he skimmed off the positive weeks. Cheers DeadTerra, congratulations.
This way of fund management, regarding to transparency and communication, is way ahead of recent events. I loved to invest in GBF until some greedy, so called individuals teared a deep black hole into btc. Thanks for that, bitches. DeadTerra went and invested in mybitcointrade even after I warned him that it was a complete scam. Even a small amount of due diligence would lead you to the assumption that it was either a ponzi or a stock generation type scam. This isnt fund management it is gambling with OPM.
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keystroke
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October 03, 2012, 04:48:24 AM |
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Gamma said he would process withdraws in the order they were received. He should commit to this since I withdrew well before the closing of the fund.
Yes, I agree.
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"The difference between a castle and a prison is only a question of who holds the keys."
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DeaDTerra (OP)
Donator
Legendary
Offline
Activity: 1064
Merit: 1000
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October 03, 2012, 06:10:04 AM |
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hundreds of bitcoins "lost" later.....
I hope you all know that basically DeadTerra used you guys to fund his gambles with you guys taking all the risk and paying for it during the down weeks while he skimmed off the positive weeks. Cheers DeadTerra, congratulations.
That's the down side of investing Bitcoins, it's hard to evaluate risks as you don't actually know the person behind the project or his/her intentions. Which makes it hard to do a profit/risk analysis and sometimes, things go wrong. I am sorry for this but to blame the massive default and security market crash on me seems a bit steep don't you think? Gamma said he would process withdraws in the order they were received. He should commit to this since I withdrew well before the closing of the fund.
Yes, I agree. I am sorry but I can not honor that as the circumstances has changed. It would simply not be fair to the rest of I let a couple of individuals withdraw and let the rest of the investors sit stuck in the boat while we liquidate, you must see why that would not be fair? Hence I would argue for that liquidation and proportionate payouts is the best and fairest way to solve this. hundreds of bitcoins "lost" later.....
I hope you all know that basically DeadTerra used you guys to fund his gambles with you guys taking all the risk and paying for it during the down weeks while he skimmed off the positive weeks. Cheers DeadTerra, congratulations.
This way of fund management, regarding to transparency and communication, is way ahead of recent events. I loved to invest in GBF until some greedy, so called individuals teared a deep black hole into btc. Thanks for that, bitches. DeadTerra went and invested in mybitcointrade even after I warned him that it was a complete scam. Even a small amount of due diligence would lead you to the assumption that it was either a ponzi or a stock generation type scam. This isnt fund management it is gambling with OPM. I had a passport and I had private information, as well as some details of the operation. At that time (before all these defaults) it seemed like a reasonable investment, not low risk but reasonable. Though now I realize that it was naive to think like that and it was my mistake. Part of why I have a transparent and open fund is for the investors to chip in and give me their opinions, it's easy to see scams in hindsight but not always so easy to identify them early on. //DeaDTerra
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DeaDTerra (OP)
Donator
Legendary
Offline
Activity: 1064
Merit: 1000
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October 03, 2012, 06:16:00 AM |
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All private messages and emails will be answered properly tonight. //DeaDTerra
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dust
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October 03, 2012, 07:13:46 AM |
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I had a passport and I had private information, as well as some details of the operation. At that time (before all these defaults) it seemed like a reasonable investment, not low risk but reasonable. Though now I realize that it was naive to think like that and it was my mistake. Part of why I have a transparent and open fund is for the investors to chip in and give me their opinions, it's easy to see scams in hindsight but not always so easy to identify them early on.
//DeaDTerra
Mybitcointrade was one of the most obvious scams on the forums, and reading any intelligent poster's comments on it could have told you that. You are lucky you got 600 of your coins out when you did. Look at the assets DeadTerra has issued/run: REBATE - Scam ZIP.A - Scam GIPPT - Insurers invested money to insure a scam in the same scam they were insuring, and are having trouble paying back the insurance Gamma Bitcoin Fund - Invested in obvious scams GSDPT is probably your first decent issue as it is backed by a reputable business. Hopefully it will break the trend of scam pass throughs you have run.
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Bitcoin Oz
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October 03, 2012, 07:19:05 AM |
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I had a passport and I had private information, as well as some details of the operation. At that time (before all these defaults) it seemed like a reasonable investment, not low risk but reasonable. Though now I realize that it was naive to think like that and it was my mistake. Part of why I have a transparent and open fund is for the investors to chip in and give me their opinions, it's easy to see scams in hindsight but not always so easy to identify them early on.
//DeaDTerra
Mybitcointrade was one of the most obvious scams on the forums, and and reading any intelligent poster's comments on it could have told you that. You are lucky you got 600 of your coins out when you did. Look at the assets DeadTerra has issued/run: REBATE - Scam ZIP.A - Scam GIPPT - Insurers invested money to insure a scam in the same scam they were insuring, and are having trouble paying back the insurance Gamma Bitcoin Fund - Invested in obvious scams GSDPT is probably your first decent issue as it is backed by a reputable business. Hopefully it will break the trend of scam pass throughs you have run. I have a real issue with scammers using more respected members to sell their securities. Look how many people vouched for JRO and Pirate. Alberto Armandi being vouched for by Meni Rosenfeld. BFL hiring Inaba Its similar to buying an existing bitcoin service and then proceeding to steal all the coins.
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area
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October 03, 2012, 08:39:34 AM |
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Gamma said he would process withdraws in the order they were received. He should commit to this since I withdrew well before the closing of the fund.
Yes, I agree. I am sorry but I can not honor that as the circumstances has changed. It would simply not be fair to the rest of I let a couple of individuals withdraw and let the rest of the investors sit stuck in the boat while we liquidate, you must see why that would not be fair? Hence I would argue for that liquidation and proportionate payouts is the best and fairest way to solve this. I would argue that how reasonable this is depends on the volume of withdrawals requested compared to the size of the fund. Are you able to provide these figures? Clearly if everyone withdrew, then proportional is the only way to go, whereas if withdrawals were a single bitcoin, that seems very unreasonable from the perspective of the withdrawer. Full disclosure: I requested a withdrawal on the 24th of September.
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DeaDTerra (OP)
Donator
Legendary
Offline
Activity: 1064
Merit: 1000
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October 03, 2012, 01:28:16 PM |
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I had a passport and I had private information, as well as some details of the operation. At that time (before all these defaults) it seemed like a reasonable investment, not low risk but reasonable. Though now I realize that it was naive to think like that and it was my mistake. Part of why I have a transparent and open fund is for the investors to chip in and give me their opinions, it's easy to see scams in hindsight but not always so easy to identify them early on.
//DeaDTerra
Mybitcointrade was one of the most obvious scams on the forums, and reading any intelligent poster's comments on it could have told you that. You are lucky you got 600 of your coins out when you did. Look at the assets DeadTerra has issued/run: REBATE - Scam ZIP.A - Scam GIPPT - Insurers invested money to insure a scam in the same scam they were insuring, and are having trouble paying back the insurance Gamma Bitcoin Fund - Invested in obvious scams GSDPT is probably your first decent issue as it is backed by a reputable business. Hopefully it will break the trend of scam pass throughs you have run. Please note that Rebate nor ZIP.A was issued or run by me. I was simply a link between the investors and the development crew/JRO, I stood for the PR and I was not responsible for the fuck ups behind the scene. Nor was I responsible for the bad decisions and the hacking that lead to the closing of ZIP.A or Rebate. I think it's unreasonable to put the blame of these projects on me. As for GIPPT, I offered a service where I connected a insurer and investors that wanted that insurance. I never said pirate was legit nor did I say he was a scam. The deposits are being paid back but due to lies and cover ups from HK and a massive liquidation squeeze, the payouts are slow. Yet again this has nothing to do with me or me breaking a contract. I have never broken a contract which I have agreed to, I paid my part of GIPPT and the insurance was transparent and clear from the start. I have seen you post and complain on every single asset on this forum, You seem to think you know so much yet you have not done anything to improve the situation. Please fuck off or do something constructive instead //DeaDTerra
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DeaDTerra (OP)
Donator
Legendary
Offline
Activity: 1064
Merit: 1000
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October 03, 2012, 01:30:24 PM |
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Gamma said he would process withdraws in the order they were received. He should commit to this since I withdrew well before the closing of the fund.
Yes, I agree. I am sorry but I can not honor that as the circumstances has changed. It would simply not be fair to the rest of I let a couple of individuals withdraw and let the rest of the investors sit stuck in the boat while we liquidate, you must see why that would not be fair? Hence I would argue for that liquidation and proportionate payouts is the best and fairest way to solve this. I would argue that how reasonable this is depends on the volume of withdrawals requested compared to the size of the fund. Are you able to provide these figures? Clearly if everyone withdrew, then proportional is the only way to go, whereas if withdrawals were a single bitcoin, that seems very unreasonable from the perspective of the withdrawer. Full disclosure: I requested a withdrawal on the 24th of September. Of course right now the withdraw queue is a bit more then 1000 BTC which represent more then 1/7 of the fund. Considering the size of these withdraws, it would be unfair to pay them out while denning the same right to the rest of the investors. In my mind proportional payouts is what's most fair at this moment. //DeaDTerra
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iCEBREAKER
Legendary
Offline
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
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October 03, 2012, 11:07:13 PM |
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DeadTerra, I have not put in a request for withdrawal, but it is not fair to those who have to strip them of their higher priority. Months ago, I asked you to focus on the GBF instead of getting distracted by various IPOs. You agreed (and thus I invested) back then, yet you then proceeded to waste your time and our bitcoins on various unrelated scammy/gimmicky nonsense projects. You never updated the OP to reflect the recent negative returns. You don't even update the google docs weekly. We now have no idea how many of our bitcoins you've lost! Your constant excuses of "I'm too tired, I'm too busy, I'm too sick" are childish and unacceptable. You have plenty of time for the latest shiny things that catch your attention, but not for your investment fund? Again, not acceptable. And now, despite owing your long-suffering investors 1000s of bitcoins, you are buying overpriced silver bullion from a Jr Member in another thread! Am I the only one that finds such behavior galling? I don't want to be payed back in drips and dribbles. And I don't want to hear about how wonderful your intentions were. Your actions are those of a con artist, especially the latest excuse of "circumstances have changed, so withdrawal requests are retroactively being dishonored." The GBF should have been your highest, if not only, priority. Instead you have been treating it (and us investors) as an afterthought, not worthy of FIDUCIARY RESPONSIBILITY. You seem to be completely unfamiliar with the concept, so here is an excellent, concise definition: http://www.efmoody.com/arbitration/fiduciary.htmlIn the handling of money and when one acts as a corporate or individual trustee, there is a fiduciary responsibility owed to the principal party. It is defined as a relationship imposed by law where someone has voluntarily agreed to act in the capacity of a "caretaker" of another's rights, assets and/or well being. The fiduciary owes an obligation to carry out the responsibilities with the utmost degree of "good faith, honesty, integrity, loyalty and undivided service of the beneficiaries interest." The good faith has been interpreted to impose an obligation to act reasonably in order to avoid negligent handling of the beneficiary's interests as well the duty not to favor ANYONE ELSE'S INTEREST (INCLUDING THE TRUSTEES OWN INTEREST) over that of the beneficiary. Further, if the agent should find him/herself in a position of conflicting interests, the agent must disclose the dual agency (acting for two parties at the same time) or risk being accused of constructive fraud in regards to both or either principals. Good day, sir!
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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strello
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October 04, 2012, 12:00:43 AM |
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DeadTerra
I agree with all of Icebreaker's points above.
I think you owe it to us, your trusting investors, who have stuck with you through the past weeks of continuous losses, to be more clear about what the actual situation is.
You should update and clean up the Fund assets and holdings spreadsheet so it accurately and clearly shows the position of the fund right now. And make a clear announcement that this is done and is the honest value of the fund right now.
I no longer trust you not to use, or lose, our GBF investments in your many other projects.
And I think you owe us a much clearer repayment plan. I think our patience and trust in you deserves much a better response than "I'm very sorry, I might pay you back something at some vague time in the future".
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It is futile to speak of liberty as long as economic slavery exists. My GPG key
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keystroke
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October 04, 2012, 02:40:04 AM |
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DeadTerra,
I have not put in a request for withdrawal, but it is not fair to those who have to strip them of their higher priority.
Thank you for your support iCEBREAKER.
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"The difference between a castle and a prison is only a question of who holds the keys."
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CecilNiosaki
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October 04, 2012, 02:54:51 AM |
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We now have no idea how many of our bitcoins you've lost!
That's actually in the log book. You just have to move the tab to the current week.
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iCEBREAKER
Legendary
Offline
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
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October 04, 2012, 04:09:04 AM |
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We now have no idea how many of our bitcoins you've lost!
That's actually in the log book. You just have to move the tab to the current week. The current week is actually not in the log book. Last entry is for 9/28, actually.
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██████████ ██████████████████ ██████████████████████ ██████████████████████████ ████████████████████████████ ██████████████████████████████ ████████████████████████████████ ████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ████████████████████████████████ ██████████████ ██████████████ ████████████████████████████ ██████████████████████████ ██████████████████████ ██████████████████ ██████████ Monero
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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CecilNiosaki
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October 04, 2012, 04:54:36 AM |
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We now have no idea how many of our bitcoins you've lost!
That's actually in the log book. You just have to move the tab to the current week. The current week is actually not in the log book. Last entry is for 9/28, actually. Right, but you can tell how many Bitcoins roughly remain for the value based on the four day old information from the week that ended on the 30th.
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DeaDTerra (OP)
Donator
Legendary
Offline
Activity: 1064
Merit: 1000
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October 04, 2012, 05:18:06 AM |
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DeadTerra, I have not put in a request for withdrawal, but it is not fair to those who have to strip them of their higher priority. Months ago, I asked you to focus on the GBF instead of getting distracted by various IPOs. You agreed (and thus I invested) back then, yet you then proceeded to waste your time and our bitcoins on various unrelated scammy/gimmicky nonsense projects. You never updated the OP to reflect the recent negative returns. You don't even update the google docs weekly. We now have no idea how many of our bitcoins you've lost! Your constant excuses of "I'm too tired, I'm too busy, I'm too sick" are childish and unacceptable. You have plenty of time for the latest shiny things that catch your attention, but not for your investment fund? Again, not acceptable. And now, despite owing your long-suffering investors 1000s of bitcoins, you are buying overpriced silver bullion from a Jr Member in another thread! Am I the only one that finds such behavior galling? I don't want to be payed back in drips and dribbles. And I don't want to hear about how wonderful your intentions were. Your actions are those of a con artist, especially the latest excuse of "circumstances have changed, so withdrawal requests are retroactively being dishonored." The GBF should have been your highest, if not only, priority. Instead you have been treating it (and us investors) as an afterthought, not worthy of FIDUCIARY RESPONSIBILITY. You seem to be completely unfamiliar with the concept, so here is an excellent, concise definition: http://www.efmoody.com/arbitration/fiduciary.htmlIn the handling of money and when one acts as a corporate or individual trustee, there is a fiduciary responsibility owed to the principal party. It is defined as a relationship imposed by law where someone has voluntarily agreed to act in the capacity of a "caretaker" of another's rights, assets and/or well being. The fiduciary owes an obligation to carry out the responsibilities with the utmost degree of "good faith, honesty, integrity, loyalty and undivided service of the beneficiaries interest." The good faith has been interpreted to impose an obligation to act reasonably in order to avoid negligent handling of the beneficiary's interests as well the duty not to favor ANYONE ELSE'S INTEREST (INCLUDING THE TRUSTEES OWN INTEREST) over that of the beneficiary. Further, if the agent should find him/herself in a position of conflicting interests, the agent must disclose the dual agency (acting for two parties at the same time) or risk being accused of constructive fraud in regards to both or either principals. Good day, sir! I don't get mad often but reading this get's me mad. Do you know how much work it is to run a fund? I can tell you it's over 20 hours a week, and guess what I have been paid nothing. Nothing for three months, in fact I have lost 150 BTC from the start of the opening up the investment fund to the public. I have kept the log book up to date, yes I have missed a couple of days but I am human give me a break. The log book has always been up to date with at least a couple of days delay here and there. I have updated it as you can see it's already in the OP and I did that weeks ago what? Take a look back at the last couple of weeks and you will surely see that I have updated the log book more then weekly, I can assure you. I am sorry but no where in the deal I made with the investors did it say abandon your life because if it did then I would not have made that deal. I have done by best considering the circumstances, I have a part time job,I study on full time and I want to have some sort of social life, that means that sometimes things gets delayed and the log book is not updated. So now I can't even make private purchases because that will effect the profit of the fund? Stop with these silly arguments listen to yourself, the reason why I was buying silver was because I wanted silver. I am entitled to my own purchases am I not? I am just trying to make this as smooth as possible and make it fair for as many as possible, I said it's not written in stone and that it can be discussed, thank you for your opinion. I have stated from the start this is not my profession, this is a hobby project that I do in my free time. That has been the deal from the start if you want something more then that then I am sorry because I am never going to be able to do that. All these things you are complaining about, has been stated from the start, it was involved in the deal I made with the investors. This is not my full time job and I thought that was clear. I am just trying to do what's best but thank you for your opinion. //DeaDTerra
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