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Question: Moving forward, note your preference?
Stay private (i.e., do NOT re-list)
List on Bitfunder
List on BTC-TC
Just show me the results...

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Author Topic: [BTC-TC] YABMC  (Read 42503 times)
JWU42
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December 25, 2012, 03:04:02 PM
 #321

A quick update on the status of achieving 100% of bonds claimed...

We are now down to just 103 bonds unclaimed (down from 138).  We will send another reminder later today and wait another few days before taking any actions with unclaimed bonds.

We hope you all are enjoying this holiday season with friends and family!!

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Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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JWU42
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December 27, 2012, 07:47:33 PM
 #322

Second and final e-mail sent requesting a BTC address from those that were on the final update list from GLBSE.  I do not believe a second test payment is necessary but am open for comments regarding another test payment.

Comments have been mixed between staying private and relisting and generally few and far between.  To encourage responses a quick survey will be sent later today via e-mail.

Regards,

YABMC Team

PS - My portion of the coupon (12:00 UTC December 21st until 12:00 UTC December 28) has been sent to https://blockchain.info/fb/1yabmc

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December 28, 2012, 07:04:37 PM
 #323

Down to 95 bonds unclaimed - progress...

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JWU42
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January 05, 2013, 04:07:29 PM
 #324

Unfortunately no other bondholders responded since 28 December and it is time to move forward...

I will send a second test payment in a few moments.  It would be very helpful if you can advise if you received it.  For those who responded to the first test payment there is no need to respond a second time.  My greatest fear is a payment not reaching its right owner.  I have been told there were some problems with the BTC addresses provided by GLBSE with other assets (hence my concern).

I did send my portion of the coupon for this past week (12:00 UTC 30 December 2012 - 12:00 UTC 4 January 2013) a few days back.  It can be seen at the same address.

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JWU42
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January 05, 2013, 04:27:51 PM
 #325

Test payment just sent - same as last time - 1 Satoshi per bond held.

http://blockchain.info/tx/4c0141b811adca01a0d134d706578bf6fdb1704fd3a077e3743a7e688cfbfae5

http://blockchain.info/tx/563fcd6311645ebeb66c31574436c14fad5b9f35b3bb6b2746abdbed251e8a5a

http://blockchain.info/tx/37cdec7463e9ebe23cf9c9114688499171afc2c71d8556d7ecd6987482f618ca

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conspirosphere.tk
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January 05, 2013, 04:30:18 PM
 #326

OK. Now how about a real payment?

PsychoticBoy
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January 05, 2013, 04:36:56 PM
 #327

Recieved the "test payment"


Greetz
JWU42
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January 05, 2013, 04:38:18 PM
 #328

@Conspirosphere.tk,

One possible option is to only pay to those who have confirmed receipt of test payment?!?

Again - my concern is bondholders not receiving payments they deserve (be it an old address they submitted to GLBSE, a typo, etc.).

I am open to suggestions!!  There are BTC 478.82213519 ready to be sent...

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conspirosphere.tk
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January 05, 2013, 04:48:56 PM
 #329

Yes, why not? Start paying confirmed accounts and keep safe the funds of the unconfirmed.

JWU42
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January 05, 2013, 05:09:19 PM
 #330

It makes tracking things a bit more of a PITA but is a fair request.

Regardless, I want to start "real" payments next week.

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boonies4u
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January 05, 2013, 07:25:59 PM
 #331

It makes tracking things a bit more of a PITA but is a fair request.

Regardless, I want to start "real" payments next week.

You mean 'I "want" to start real payments next week.'

edit: received 2nd test payment
cozie
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January 06, 2013, 01:28:45 AM
 #332

received second test payment

camolist
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January 06, 2013, 01:45:50 AM
 #333

so when is this going to move forward? it's been > a month and all i have to show for it is 0.00000201 * 2  and from what i understand you are not even going to be paying the full amount only 1/3rd or something? because you claim our agreement was with third parties who decided not to pay up. am i understanding this correctly?

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January 06, 2013, 02:53:06 AM
 #334

so when is this going to move forward? it's been > a month and all i have to show for it is 0.00000201 * 2  and from what i understand you are not even going to be paying the full amount only 1/3rd or something? because you claim our agreement was with third parties who decided not to pay up. am i understanding this correctly?

@Camolist,

After we received the final list from nefario with accounts but no BTC addresses we made two attempts to contact these account holders.  Some came forward and others did not.  As mentioned in the thread there are less than 100 shares unclaimed (not too bad).  This was the last step before moving forward.

In the interim, I was speaking with another GLBSE asset issuer who explained he was having numerous problems with the data provided by GLBSE (namely the BTC address provided was not correct).  This created some concern as I mention above - not wanting to send payments to the wrong address and someone coming back to us in 6 months claiming to never received payment.  Many people have sent a PM or e-mail acknowledging receipt of the test payments and those are probably the account holders who get paid first.  Having it mandatory to acknowledge receipt of the test payments was not in the original plan but I am starting to lean that way.

With respect to hashking and Patrick Harnett, most of that was discussed previously and you are essentially correct.  YABMC was started by me at 5 Gh/s.  A partnership was then formed (as noted above and announced in the forums) with hashking and Patrick Harnett to expand to 150 Gh/s.  The incremental 145 Gh/s were split in a 45/50/50 manner (the 45 for me as I already had a 5 Gh/s debt).  I would never have expanded YABMC to these levels (>50 Gh/s) myself -- I did not have the hashing power to cover it.

So with hashking and Patrick Harnett both unable to pay past debts let alone contribute going forward the bondholders I am the "last man standing".  The percentage bondholder's will receive is more than 1/3 as HK and PH bought shares on GLBSE.  Those shares have been surrendered back to lower the exposure to 33.382 Gh/s.  I will continue to pay my portion of 20.131 Gh/s which is ~60.3% of the debt.


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JWU42
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January 06, 2013, 04:27:50 AM
 #335

Just spent the past 90 minutes going through e-mails, PMs and thread posts to update the confirmations.

I show 22,022 shares of the 33,282 outstanding confirming receipt of the test payment.  I will show the number of shares below and in the one instance where the share amount is identical, the first few characters of the BTC address associated with the account...

Code:
7596
4165
2000
1948
1067
968
600
551
539
524
209
201
200
180
161
157
105
104
85
80
72
64
60
49
40
38
30
25
24
23
22 - 1P3r
22 - 1Kdp
20
18
17
16
15
13
12
10
7
1

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viboracecata
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January 06, 2013, 06:08:57 AM
 #336

Test payments received first time

GeoRW
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January 06, 2013, 11:10:59 AM
 #337

why not simply relist on some exchange. Then you can pay this as dividends. Experimenting with paymwnts to BTC addresses is strange. Looks like you don't really want to pay at all and are searching excuses not to.
boonies4u
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January 06, 2013, 01:46:20 PM
 #338

why not simply relist on some exchange. Then you can pay this as dividends. Experimenting with paymwnts to BTC addresses is strange. Looks like you don't really want to pay at all and are searching excuses not to.

Relisting on 'some exchange' would be even more difficult. Especially for those who have yet to claim ownership of shares. That would require them claiming ownership of said shares on another 3rd party exchange, which would probably leave a bad taste in their mouth given what happened with GLBSE.

You can't just move onto another exchange without making every other shareholder do the same.
JWU42
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January 06, 2013, 01:46:56 PM
 #339

@GeoRW,

I have asked for comments multiple times concerning staying private versus re-listing and received little feedback.  I mentioned Bitfunder originally, do you have any preferences?

PS - Staying "private" is exactly what PUREMINING has done with good success by most all accounts.

GPG PubKey | THREEMA | OTC | HeatWare | 1JWU42QLGFESoQCC4iPzUDTRiC9nx5bi95
conspirosphere.tk
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January 06, 2013, 02:24:29 PM
 #340

How do you trade/sell your shares if it remains private?
Anyway with Cognitive it went all well on btct.co

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