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Author Topic: [BTC-TC] BTC-Mining  (Read 21168 times)
Deprived
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February 06, 2013, 05:02:59 PM
 #161

Well AmazingRando hasn't even showed up. A theory was that when BFL ships his ASIC's he will show up and perhaps pay up. Honestly I've started to doubt that.

Now if he doesn't show up how would you say we should go after him? Can he be sued or something?

Allegedly BFL will start shipping in two weeks but that's another thing I have trouble believing in...

AmazingRando DID show up - and made a thread talking about how we was going to srot out Bitbond (basically spend what cash he had left from the dividends he owes on ASICs, keep a chunk of what they mine for himself and give some scraps to his investors).  He didn't comment on his debt to BTC-Mining despite namworld asking about it in the thread.  He has now locked that thread and disappeared again.
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Tritonio
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February 06, 2013, 06:21:33 PM
 #162

So the guy has actually defaulted but doesn't accept it. So instead of liquidating everything and giving back to the bondholders whatever he can so that they themselves decide how to recover their losses, he keeps whatever money is left + equipment and demands that he should be the one to do the damage control by mining with ASIC. (which he also divides equally over all investors even though the big ones didn't pay for them)

He just keeps violating his contract on and on... He is really amazing, it's not just his nickname.

Let's wait a few more days for Namworld to grab a hold of him on Skype.

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February 17, 2013, 01:31:51 AM
 #163

Any news from Rando? Did we lend our BTC to that guy under a completely different contract, or did we buy his bITBOND perpetual mining bonds from him with an added promise that he will buy back at some specific point?

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February 17, 2013, 05:42:43 AM
 #164

Promise to buy back, no bitbonds bought, we get 40 mhash/11 BTC. Completely separate deal.

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February 28, 2013, 03:08:39 PM
 #165

Still no word from him?

Last Active:   February 20, 2013, 07:42:01 AM

But no posts since Feb 5...

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March 18, 2013, 02:17:38 PM
 #166

any updates?
Tritonio
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March 18, 2013, 06:56:11 PM
 #167

If rando is lying about not having money to pay back, then we should go after him. Would anyone be willing to pay so that we ask a lawyer if we can do something about this situation?

If rando is indeed telling the truth then obviously going after him would only cost us more...

So which one is the case?

Do we know what country rando is residing in?

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March 29, 2013, 03:00:10 AM
 #168

Well, why has rando's identity not been published yet?
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April 08, 2013, 09:04:43 AM
 #169

Namworld, the BTC owned by the shareholders is now worth more than 430 000 USD, where we could be purchasing many more TH of equipment by now.
I dont think you can just say its loaned to some other guy and leave it at that. Can you?
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April 08, 2013, 09:20:37 AM
 #170

Namworld, the BTC owned by the shareholders is now worth more than 430 000 USD, where we could be purchasing many more TH of equipment by now.
I dont think you can just say its loaned to some other guy and leave it at that. Can you?

No court will handle a case involving Bitcoins, otherwise Namworld would have already tried to recover the stolen money from AmazingRando.

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April 08, 2013, 09:26:35 AM
 #171

Namworld, the BTC owned by the shareholders is now worth more than 430 000 USD, where we could be purchasing many more TH of equipment by now.
I dont think you can just say its loaned to some other guy and leave it at that. Can you?

More like 270k USD when counting outstanding shares. The rest used to be my shares on GLBSE. I had put a lot of BTC aside into BTC-MINING too.

They were loaned to amazingrando. There's extensive logs in my private messages between amazingrando and me regarding the terms and transfers of BTC with numerous confirmations from Amazingrando of receiving the BTC and owing mining payment (as well as the repayment date). I guess I'd need Theymos or some mod to take a look and confirm here? I'll PM Theymos about it.

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April 08, 2013, 12:40:13 PM
 #172

No court will handle a case involving Bitcoins, otherwise Namworld would have already tried to recover the stolen money from AmazingRando.

Why not? I'm not saying that they will definitely handle it, but what is their refusal going to be based on?

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April 08, 2013, 12:57:20 PM
 #173

No court will handle a case involving Bitcoins, otherwise Namworld would have already tried to recover the stolen money from AmazingRando.

Why not? I'm not saying that they will definitely handle it, but what is their refusal going to be based on?


Bitcoins are not yet recognized hy the law as existing.

Tritonio
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April 09, 2013, 12:38:31 PM
 #174

You sure that it really matters if the law recognizes them? We could simply say that we gave him 20K dollars (or whatever was the equivalent back them) in bitcoins. How much would that be BTW?

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April 13, 2013, 05:26:49 AM
 #175

They were loaned to amazingrando. There's extensive logs in my private messages between amazingrando and me regarding the terms and transfers of BTC with numerous confirmations from Amazingrando of receiving the BTC and owing mining payment (as well as the repayment date). I guess I'd need Theymos or some mod to take a look and confirm here? I'll PM Theymos about it.

Based on the PMs, it seems that Namworld had 2354 BTC invested with Amazingrando as of August 13, 2012.

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April 13, 2013, 06:04:38 AM
 #176

They were loaned to amazingrando. There's extensive logs in my private messages between amazingrando and me regarding the terms and transfers of BTC with numerous confirmations from Amazingrando of receiving the BTC and owing mining payment (as well as the repayment date). I guess I'd need Theymos or some mod to take a look and confirm here? I'll PM Theymos about it.

Based on the PMs, it seems that Namworld had 2354 BTC invested with Amazingrando as of August 13, 2012.

2354 BTC for 11 BTC x 214 loan units for hashing, with 15 BTC left. For a total 2354 + 15 = 2369 issued shares.

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Deprived
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April 13, 2013, 10:28:08 AM
 #177

They were loaned to amazingrando. There's extensive logs in my private messages between amazingrando and me regarding the terms and transfers of BTC with numerous confirmations from Amazingrando of receiving the BTC and owing mining payment (as well as the repayment date). I guess I'd need Theymos or some mod to take a look and confirm here? I'll PM Theymos about it.

Based on the PMs, it seems that Namworld had 2354 BTC invested with Amazingrando as of August 13, 2012.

2354 BTC for 11 BTC x 214 loan units for hashing, with 15 BTC left. For a total 2354 + 15 = 2369 issued shares.

Did you obtain proof of his identity before sending him all the BTC?
Did you obtain proof of any significant assets he owned (to go after now) in case BTC price rose?

I don't do a lot of lending - but if I did (and it was a significant sum) minimum I'd require would be conclusive proof of ID and proof of assets showing ability to repay if BTC price rose (mining operations lose value when BTC price rises - both in terms of realisable value of hardware and also due to less BTC being mined due to increased mining coming online in response to the increased price).
Tritonio
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April 20, 2013, 11:35:56 PM
 #178

We should schedule a talk over IRC. Anyone want to start a doodle (www.doodle.com) about it?

Tritonio
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April 28, 2013, 01:57:59 PM
 #179

I pledge a half of my 46 Bitbond bonds to anyone who will recover them by a legal action.
If enough people here do the same, possibly someone will get off from his ass and start moving things.

I have 30 shares, I will give away 15 (on cryptostocks) if somebody will start legal case against him.

Maybe we should join them?

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April 30, 2013, 11:59:02 AM
 #180

I have some BTC-Mining from GLBSE and would like to see this settled.
I see on BTCT the following moderator comments:
YES 5 / 4 NO    (2 ABSTAINING -- Users with 10 or more shares of LTC-GLOBAL are allowed to vote.)

Anonymous voted NO with comment: A mining company with no equipment is no mining operation.
Anonymous voted NO with comment: Asset has no hardware.
Anonymous voted NO with comment: Is this misrepresentation? No info on hardware, looks like a fund.
Anonymous voted NO with comment: Lending out most raised funds without ID for the borrower OR proof he could repay if BTC rose massively

Namworld, can you please comment on what is going on? It sounds like you may know amazingrando - can you ask him to please return our BTC. Thanks.

edited for manners  Smiley
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