teek (OP)
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May 06, 2012, 07:31:22 PM Last edit: July 15, 2012, 09:52:00 PM by teek |
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Hello fellow Bitcoiners!
I just want to draw your attention to the first a new set of assets I am launching on the GLBSE - TEEK Funds.
The first two TEEK assets will be a set of loans / bonds which will pump some of my profits back into the Bitcoin economy. As some of you may know, I do own several businesses and am involved in various profitable projects. I have been self employed in the Information Technology sector since 2005, and though that enables me to live comfortably, I have also made money on real estate and all types of other business ventures. Some of you may have followed another GLBSE asset which is a joint venture I am involved in, Blockminers (BMMO), which is currently the oldest mining company on the GLBSE, and has always paid it's dividends on time and without fail.
I often find myself with a problem that many of us face. I miss out on oportunities to make more profits because my capital is tied up in other ventures, or my current options for obtaining spot financing are too time consuming or prohibitively costly with bad terms.
I'd pretty much say I am overlooked by the traditional banking system as many of us are. The system is truly set up so the rich get richer, the poor stay poorer, and the middle class pays for it all. Well one guy can't change the system, but ideas like Bitcoin, Crowdsourcing, and P2P Decentralization, we can all see are changing the way people think.
I hope to solve this problem in this very untraditional, but very cool manner, and I hope that the Bitcoin community allows me to do so.
The contracts for TEEK.A and TEEK.B below.
TEEK.A ------------
TEEK.A is an interest bearing loan or bond. The funds generated from this loan will be used to finance low risk business ventures. This loan guarantees no loss of principal to the bond holder, the risk is carried soley by the issuer.
The specific investments which the funds are used for will not be disclosed, but the nature of the investments are disclosed as corporate acquistions, operating lines of credit, real estate transactions, and other above board legitimate uses which return a profit.
Each bond issued will have a face value of 1 BTC and will receive an interest payment or dividend of .003 BTC per week. Dividends will be paid every Sunday. You must hold the bond at the exact time of dividend payment to be entitled to the dividend.
A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds.
This loan can be called at any time. If the loan is called, the issuer will place a bid of 1 BTC for every oustanding bond. Interest for the weekly period will be paid out on a pro-rated basis.
** This asset does not represent ownership of any company or organization and has no voting rights. **
TEEK.B ------------
TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis.
The specific investments which the funds are used for will not be disclosed.
Each bond issued will have a face value of 1 BTC and will receive an interest payment or dividend of .03 BTC per week. Dividends will be paid every Sunday. You must hold the bond at the exact time of dividend payment to be entitled to the dividend.
A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds.
This loan can be called at any time. If the loan is called, the issuer will place a bid of 1 BTC for every oustanding bond. Interest for the weekly period will be paid out on a pro-rated basis.
** This asset does not represent ownership of any company or organization and has no voting rights. **
TEEK.USD -------------------
TEEK.USD is an interest bearing loan or bond pegged to USD. Each bond has a face value of ONE UNITED STATES DOLLAR (USD) worth of Bitcoin at Mt. Gox's BTCUSD 24h weighted average rate.
This loan / bond guarantees no loss of principal to the bond holder, the risk is carried solely by the issuer, and it's face value does not fluctuate from $1.00 USD.
This loan / bond is pegged to USD but all transactions will take place in Bitcoin, at the Mt. Gox BTCUSD 24h weighted average rate, USD will be rounded to two decimal places, and BTC will be rounded to 8 decimal places.
A $0.01 USD (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) interest payment will be paid to each bond every Sunday. You must hold the bond at the exact time of interest payment to be entitled to the interest.
For example: For a weighted average of $7.53959 a rate of $7.54 would be used. A interest payment of $0.01 USD @ BTCUSD rate of $7.54 would be, 1 / 7.54 = 0.13262599 BTC x $0.01 USD = 0.00132626 BTC per bond.
A minimum liquidity level will be established. Each week, on the Sunday interest day, a bid of $1.00 USD per bond (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) will be placed for a minimum of 5% of the outstanding bonds.
This loan / bond can be called at any time. If the loan / bond is called, the issuer will place a bid of $1.05 USD per bond (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) for every outstanding bond. Interest for the weekly period will be paid out on a pro-rated basis.
** This asset does not represent ownership of any company or organization and has no voting rights. **
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teek (OP)
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May 06, 2012, 07:32:59 PM Last edit: May 06, 2012, 09:52:21 PM by teek |
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Q & A----- Q: Who are you? A: I am debating getting verified on GLBSE. For now I can tell you, I am an advocate of Bitcoin, Cryptocurrency, Net Neutrality, Free Speech, and am of an extremely liberal mindset socially, but I am a capitalist at heart. Might be a bit of a weird combination, but thats just me There are a handful of people on the forum who know me in real life, and there is another handful which I have had successfull transactions with. I have never had a bad transaction. Q: Why should we invest in you? A: The Bitcoin community is growing pretty rapidly which we all want to see. What is REALLY going to make Bitcoin grow is outside profits coming in, which is what I intend to do. For starters, between all my ventures I have figured out I am paying nearly $2,000 per month in interest related costs and fees. That's alot of BTC that could be coming back into the community. I also hold a net worth of over 2000 BTC in the Bitcoin world and run a sizable mining operation. I have a positive / somewhat significant net worth in the real world and a decent credit score. Q: You don't want to disclose the investments you make / where the BTC goes, why not? A: Mostly out of simplicity, there isn't anything to hide, but I am not an accountant, and my accountant isn't going to manage this for me. I also do not want to compromise my own privacy or the privacy of others I do business with, I do not think it is worth it. If you cannot deal with that, you probably shouldn't be buying this asset. Q: If you are bringing profits into the Bitcoin economy, doesn't that mean you are using the BTC raised by converting some or all of it to fiat currency, thus risking your ability to re-pay should the value of Bitcoin go up against USD/EUR etc. A: Some of the BTC will be converted to fiat. However, I believe in BTC and hedge my portfolio from a holistic viewpoint with a mandate of increasing BTC holdings. I hold a significant amount of BTC in reserve.
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teek (OP)
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May 06, 2012, 07:33:23 PM |
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reserved.
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teek (OP)
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May 06, 2012, 08:27:14 PM Last edit: May 07, 2012, 02:58:00 PM by teek |
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The IPO is May 10th at 9AM GLBSE Time.
I have issued 10,000 TEEK.A, and 2000 TEEK.B assets.
2000 TEEK.A are available for pre-sale at .9 BTC each.
500 TEEK.B are available for pre-sale at .9 BTC each. These have all been sold!
PM me if interested. Shares will be available on IPO day but not at crazy discounts like these!
teek
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Sukrim
Legendary
Offline
Activity: 2618
Merit: 1006
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May 06, 2012, 08:32:34 PM |
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TEEK.A pays out at rates worse than a 1 MH/s bond currently (1 bond = ~0.005 BTC/week) but with difficulty increases that might change of course. It'll still take some time until this becomes more profitable than mining bonds though...
TEEK.B sounds really interesting on the other hand.
Also gratulations on not offering the majority of bonds as "pre sale" for people who might just dump their shares once enough asks are there.
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Philj
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May 06, 2012, 10:16:09 PM |
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Best of luck with these funds.
Sub
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BinaryMage
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May 07, 2012, 12:22:26 AM |
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TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis. Can you elaborate on this? What's to stop you telling us the venture fell through and walking away with the money?
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teek (OP)
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May 07, 2012, 01:33:43 AM |
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TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis. Can you elaborate on this? What's to stop you telling us the venture fell through and walking away with the money? I think my reputation is pretty good and I want to keep it that way. If I did that, I wouldn't be very welcome in the community or on GLBSE i'd imagine. In any case, the funds will not be tied to any one venture, so some pretty serious shit would have to happen for this scenario to become active. In most cases it would probably make more sense for me to take the hit without saying anything, or just call the loan and take the hit and wind up.
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friedcat
Donator
Legendary
Offline
Activity: 848
Merit: 1005
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May 07, 2012, 02:35:31 AM |
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I noticed that there are three of your IPOs on their way in GLBSE. Besides TEEK.A and TEEK.B, I saw TEEK. Is it like PPT.x vs PPT? If so, could we invest in this one and share the return rates of not TEEK.x's, but yours? Thanks.
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teek (OP)
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May 07, 2012, 03:17:47 AM |
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I noticed that there are three of your IPOs on their way in GLBSE. Besides TEEK.A and TEEK.B, I saw TEEK. Is it like PPT.x vs PPT? If so, could we invest in this one and share the return rates of not TEEK.x's, but yours? Thanks.
The TEEK asset will not be traded, at least not in the foreseeable future.
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BinaryMage
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May 07, 2012, 03:45:07 AM |
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TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis. Can you elaborate on this? What's to stop you telling us the venture fell through and walking away with the money? I think my reputation is pretty good and I want to keep it that way. If I did that, I wouldn't be very welcome in the community or on GLBSE i'd imagine. In any case, the funds will not be tied to any one venture, so some pretty serious shit would have to happen for this scenario to become active. In most cases it would probably make more sense for me to take the hit without saying anything, or just call the loan and take the hit and wind up. Sorry, I didn't state that clearly. Rest assured I'm not by any means challenging your reputation. It just seems to me that, because you are not revealing the nature of your investments, if you state that one or all crashed, the investors have no way to verify that whatever you invested in did actually collapse instead of you just fabricating a story. Chances are you wouldn't do that, and I'm not suggesting you would, but in general the concept of being able to walk away with the money without significantly damaging your reputation scares me.
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teek (OP)
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May 07, 2012, 02:51:52 PM |
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TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis. Can you elaborate on this? What's to stop you telling us the venture fell through and walking away with the money? I think my reputation is pretty good and I want to keep it that way. If I did that, I wouldn't be very welcome in the community or on GLBSE i'd imagine. In any case, the funds will not be tied to any one venture, so some pretty serious shit would have to happen for this scenario to become active. In most cases it would probably make more sense for me to take the hit without saying anything, or just call the loan and take the hit and wind up. Sorry, I didn't state that clearly. Rest assured I'm not by any means challenging your reputation. It just seems to me that, because you are not revealing the nature of your investments, if you state that one or all crashed, the investors have no way to verify that whatever you invested in did actually collapse instead of you just fabricating a story. Chances are you wouldn't do that, and I'm not suggesting you would, but in general the concept of being able to walk away with the money without significantly damaging your reputation scares me. I understand what your saying, but under the circumstances I think all I can say is no I wouldn't do that, but it is called high risk for a reason. I mean even if I was lying, at these rates you could almost price it in. All kidding aside, if I did have to claim a default, I would be making public the reasons why and I guess people would have to make up their own mind. However, my word stands that this is offered truly on a best effort basis which means default is a last resort only to be used if things really go bad.
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teek (OP)
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May 07, 2012, 02:56:54 PM |
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The TEEK.B pre-sale shares at .9 have all been sold. If you were one of the lucky ones that got them, congrats, they will be transferred to you as soon as they are released.
Unfortunately, I have had very little response on TEEK.A. I want to shake things up a little on TEEK.A, to encourage a couple longer term investors. I will change the pre-sale price of TEEK.A to .9 BTC as well.
It is clear the demand for TEEK.B is pretty high, but there is only so many bonds I can sell with that kind of return, so those will have to be fairly limited. If I were to offer another bond at .01 BTC per week, is there any interest?
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teek (OP)
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May 08, 2012, 02:54:19 PM |
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Bump! 1800 TEEK.A's left! IPO day in 2 days!
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teek (OP)
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May 08, 2012, 05:30:09 PM |
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A couple people have asked how many TEEK.B will be available on IPO day. There will be 1500 TEEK.B released at 1 BTC each. May 10th @ 9am GLBSE time.
The TEEK.A are slowly selling, get some at .9 before they're gone!
teek
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teek (OP)
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May 09, 2012, 10:35:30 PM |
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Still have over 1500 TEEK.A on the pre-sale. IPO tmrw morning for anyone looking for TEEK.B
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Philj
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May 10, 2012, 10:34:35 AM |
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what time is the IPO today?
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teek (OP)
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May 10, 2012, 12:56:18 PM |
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what time is the IPO today?
Should be in 5 mins but the shares haven't shown up in my account yet..
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teek (OP)
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May 10, 2012, 01:07:05 PM |
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having some technical difficulties here with glbse. contacting Nefario to help, looks like he is online so I hope we should be good shortly.
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unclescrooge
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May 10, 2012, 01:29:02 PM |
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Oh come on, what's happening already?
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teek (OP)
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May 10, 2012, 01:31:03 PM |
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Nefario is working on it. The shares were released to the proper accounts, but TEEK.B won't let me place the ask. He says a few minutes.
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teek (OP)
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May 10, 2012, 02:40:49 PM |
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OK - Nefario got it fixed. The IPO is live!
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unclescrooge
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May 10, 2012, 02:47:10 PM |
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Thank you for your hard work. Got my hand on some shares.
The timing was perfect for me.
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teek (OP)
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May 10, 2012, 02:52:57 PM |
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Thank you for your hard work. Got my hand on some shares.
The timing was perfect for me.
Good to hear!
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filharvey
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May 10, 2012, 02:55:41 PM |
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So is first dividend this sunday? I take it.
Phil
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teek (OP)
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May 10, 2012, 03:00:51 PM |
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So is first dividend this sunday? I take it.
Phil
Yes but it will be pro-rated because we are starting in the middle of the week. I'll pay 60% of the normal weekly dividend on Sunday, first full dividend will start May 20. teek
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teek (OP)
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May 11, 2012, 02:32:34 AM |
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bump!
TEEK.A still available at 5% off face value. TEEK.A is not tied to mining / rising difficulty! No / low risk.
Still some TEEK.B left too, get em fast, they will be gone before ya know it.
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unclescrooge
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May 11, 2012, 07:55:53 AM |
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bump!
TEEK.A still available at 5% off face value. TEEK.A is not tied to mining / rising difficulty! No / low risk.
Still some TEEK.B left too, get em fast, they will be gone before ya know it.
Actually I can't believe there are still TEEK.B shares available. Either capital is scarce (good news, keeps profits up) or people are suspicious/cautious.
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Sukrim
Legendary
Offline
Activity: 2618
Merit: 1006
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May 11, 2012, 07:58:38 AM |
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TEEK.B ------------
The specific investments which the funds are used for will not be disclosed.
Could you at least please disclose if you deposit any money from this to pirateat40's "trust"? I'd like to have investments seperate from him, but it's hard to do if other funds secretly invest to him as well and then might have to claim bankruptcy if he defaults.
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teek (OP)
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May 11, 2012, 04:18:05 PM |
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TEEK.B is a diverse set of high risk business ventures as stated. No, the eggs are not all in one basket, and it is not simply a pirate pass-through. I do hold BTC at BTCST, and I am not going to say that isn't a factor. However, if a single major event were to happen in / or outside of the Bitcoin community which caused a loss of funds, the loss incurred from that event would be limited to a fraction of the total funds.
If you're looking for something really safe, there is TEEK.A.
teek
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teek (OP)
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May 11, 2012, 04:54:38 PM |
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Can you let us know if that fraction is more than half? Thanks.
It is not.
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teek (OP)
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May 11, 2012, 05:15:12 PM |
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Thank you. I bought 200 today and will be buying more.
Awesome! Just hope your/our funds were not in bitconica Ya some are damnit, I really hope that is just another speed bump and gets sorted out asap. Didn't like waking up to that news.
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teek (OP)
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May 13, 2012, 05:22:32 PM |
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First weeks dividends have been paid. Please note these are pro-rated to 60% because we started in the middle of the week. I made a mistake on TEEK.A and accidently paid out 100%, congrats TEEK.A holders
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teek (OP)
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May 14, 2012, 10:25:58 PM |
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Bump! Still lots of TEEK.A left!
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bitcoiners
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May 20, 2012, 05:21:33 PM |
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Got this weeks payout on TEEK.B of 0.03024193 per share! Thanks and keep it up! I'll be buying more.
Cheers!
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teek (OP)
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May 20, 2012, 05:56:51 PM |
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Interest paid!
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teek (OP)
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May 27, 2012, 06:11:17 PM |
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Interest paid!
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teek (OP)
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June 03, 2012, 04:10:30 PM |
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Happy Sunday!! Interest paid!!! Could still use a bunch of TEEK.A funding, if any larger investors wish to step up feel free to pm me for your special deal.
teek
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teek (OP)
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June 10, 2012, 07:20:18 PM |
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Interest paid!
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unclescrooge
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June 17, 2012, 01:36:44 PM |
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Hello Teek,
How are you coping with the increase in bitcoin price? Does it affect your profit?
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thatbluedude
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June 17, 2012, 03:30:33 PM |
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did I understand you correctly that you will also invest in real life conventional stuff and not only in the bitcoin sector? I respect your decision to keep your investment strategy to yourself but could you give us a rough estimate of the % off your funds invested irl? I ask because there are few companies listed on glbse that are part of the "normal" economy so your fund would be more interesting for diversification reasons.
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teek (OP)
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June 17, 2012, 06:32:07 PM |
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Interest paid!
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teek (OP)
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June 17, 2012, 06:54:02 PM Last edit: June 17, 2012, 07:50:42 PM by teek |
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Hello Teek,
How are you coping with the increase in bitcoin price? Does it affect your profit?
Not being able to hedge due to the bitcoinica drama is more of a factor than the price itself.. not to mention the significant balance I have tied up there still due to that. did I understand you correctly that you will also invest in real life conventional stuff and not only in the bitcoin sector? I respect your decision to keep your investment strategy to yourself but could you give us a rough estimate of the % off your funds invested irl? I ask because there are few companies listed on glbse that are part of the "normal" economy so your fund would be more interesting for diversification reasons.
Depends, if you want to look at "percentages to meatspace" right now I try to keep it pretty low because I don't want to take the chance on being short bitcoin at the moment. More importantly though, it's starting to get to the point where I am using bitcoin in real life all the time, facilitating trade without being converted to fiat. A reliable way to hedge would change this though, it was pretty bad timing that I launched this asset and bitcoinica went down almost right away.
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thatbluedude
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June 17, 2012, 07:42:26 PM |
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did I understand you correctly that you will also invest in real life conventional stuff and not only in the bitcoin sector? I respect your decision to keep your investment strategy to yourself but could you give us a rough estimate of the % off your funds invested irl? I ask because there are few companies listed on glbse that are part of the "normal" economy so your fund would be more interesting for diversification reasons.
Depends, if you want to look at "percentages to meatspace" right now I try to keep it pretty low because I don't want to take the chance on being short bitcoin at the moment. More importantly though, it's starting to get to the point where I am using bitcoin in real life all the time, facilitating trade without being converted to fiat. A reliable way to hedge would change this though, it was pretty bad timing that I launched this asset and bitcoinica went down almost right away. thank you for answering quickly. I didn't mean capital tied up in real physical assets only, something like a digital brokerage account with classic "normal" stocks would also count. One of my perceived weakpoints of glbse is that if you look at it most stocks are preoccupied with the currency itself. I think that for long term growth it will be necessary that I can use my bitcoins to invest in stuff like real estate or pharmaceutical companies or the like and not just in the equivalent of the banking sector.
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teek (OP)
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June 24, 2012, 08:35:14 PM |
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Interest paid!
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teek (OP)
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July 01, 2012, 04:18:42 PM |
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Interest paid!
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brendio
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July 02, 2012, 05:58:09 AM |
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Interest paid!
Is the minimum liquidity clause of the contract still active? A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds. I ask, because there is a sell order at 1.0 BTC that's been there for a while, and the number of bonds for which dividends have been paid has remained constant for the last three weeks' payments.
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teek (OP)
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July 02, 2012, 05:35:11 PM |
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Interest paid!
Is the minimum liquidity clause of the contract still active? A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds. I ask, because there is a sell order at 1.0 BTC that's been there for a while, and the number of bonds for which dividends have been paid has remained constant for the last three weeks' payments. Hi Brendio - Yes its still active, assuming we are talking about TEEK.A my current ask of .95 does overlap it though, thus I have been filling anything lower than my current ask of .95 when I go to pay interest. teek
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brendio
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July 04, 2012, 07:52:38 AM |
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Interest paid!
Is the minimum liquidity clause of the contract still active? A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds. I ask, because there is a sell order at 1.0 BTC that's been there for a while, and the number of bonds for which dividends have been paid has remained constant for the last three weeks' payments. Hi Brendio - Yes its still active, assuming we are talking about TEEK.A my current ask of .95 does overlap it though, thus I have been filling anything lower than my current ask of .95 when I go to pay interest. teek With all due respect, your contract states that you will place the bid order at 1 BTC. It does not say that this is effected by the fact that you are selling at 0.95 BTC.
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teek (OP)
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July 04, 2012, 03:14:16 PM |
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Interest paid!
Is the minimum liquidity clause of the contract still active? A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds. I ask, because there is a sell order at 1.0 BTC that's been there for a while, and the number of bonds for which dividends have been paid has remained constant for the last three weeks' payments. Hi Brendio - Yes its still active, assuming we are talking about TEEK.A my current ask of .95 does overlap it though, thus I have been filling anything lower than my current ask of .95 when I go to pay interest. teek With all due respect, your contract states that you will place the bid order at 1 BTC. It does not say that this is effected by the fact that you are selling at 0.95 BTC. Fair enough, I guess I should have had some kind of other condition in there to avoid situations where I am buying for higher than I am selling.. I think an argument could be made that I don't necessarily have to buy them from the issuing account, but I do not want to cause any problems. To simplify things I have removed my ASK of .95 and bought the last 3 weeks worth of shares from the (now best) ASK of 1.0. I hope you feel this is reasonable.
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teek (OP)
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July 04, 2012, 03:17:27 PM |
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TEEK.A is available at a significant discount quantities of 100 bonds or more, please PM me or contact me on IRC as "teek" as I will be hanging around there now too.
teek
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brendio
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July 04, 2012, 03:52:14 PM |
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I hope you feel this is reasonable.
Very reasonable. It would be good to see some more action in this bond so investors can more easily get in and out. In the absence of that, the liquidity mechanism helps.
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teek (OP)
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July 04, 2012, 04:16:27 PM |
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I hope you feel this is reasonable.
Very reasonable. It would be good to see some more action in this bond so investors can more easily get in and out. In the absence of that, the liquidity mechanism helps. Yeah, I would like to see some more action on this bond too.. I have tons of capacity right now on the TEEK.A side, could be doing a lot more..
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teek (OP)
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July 08, 2012, 07:46:22 PM |
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Interest paid!
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cryptoanarchist
Legendary
Offline
Activity: 1120
Merit: 1003
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July 08, 2012, 08:37:47 PM |
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those sweet, sweet dividends...
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I'm grumpy!!
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teek (OP)
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July 15, 2012, 09:28:23 PM |
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Hi guys! Another week of interest paid!
Have a new issue for you all to look at, it may not be for everyone, but it is yet another very interesting experiment and might be something someone has been looking for!
TEEK.USD -------------------
TEEK.USD is an interest bearing loan or bond pegged to USD. Each bond has a face value of ONE UNITED STATES DOLLAR (USD) worth of Bitcoin at Mt. Gox's BTCUSD 24h weighted average rate.
This loan / bond guarantees no loss of principal to the bond holder, the risk is carried solely by the issuer, and it's face value does not fluctuate from $1.00 USD.
This loan / bond is pegged to USD but all transactions will take place in Bitcoin, at the Mt. Gox BTCUSD 24h weighted average rate, USD will be rounded to two decimal places, and BTC will be rounded to 8 decimal places.
A $0.01 USD (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) interest payment will be paid to each bond every Sunday. You must hold the bond at the exact time of interest payment to be entitled to the interest.
For example: For a weighted average of $7.53959 a rate of $7.54 would be used. A interest payment of $0.01 USD @ BTCUSD rate of $7.54 would be, 1 / 7.54 = 0.13262599 BTC x $0.01 USD = 0.00132626 BTC per bond.
A minimum liquidity level will be established. Each week, on the Sunday interest day, a bid of $1.00 USD per bond (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) will be placed for a minimum of 5% of the outstanding bonds.
This loan / bond can be called at any time. If the loan / bond is called, the issuer will place a bid of $1.05 USD per bond (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) for every outstanding bond. Interest for the weekly period will be paid out on a pro-rated basis.
** This asset does not represent ownership of any company or organization and has no voting rights. **
Questions / comments - would love to hear em!
teek
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MoneyIsDebt
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July 16, 2012, 01:13:23 AM |
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What is this loan for? Where do the dividends come from? Etc.
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teek (OP)
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July 16, 2012, 03:24:23 AM |
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What is this loan for? Where do the dividends come from? Etc.
Basically, the loan will be used to facilitate transactions in my businesses that may otherwise be too risky due to BTCUSD fluctuation. This means that the exact uses of the funds will vary, but are guaranteed no matter what happens to them. The dividends come from my existing businesses, but if TEEK.USD is successful it will allow me to make my existing business more efficient as well as make business more profitable and less risky overall.
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teek (OP)
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July 16, 2012, 08:07:41 PM |
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The IPO for TEEK.USD has been approved by GLBSE and is now listed on the IPO's page. https://glbse.com/ipo/164It will IPO on July 22nd at approx 12:00 CST. Due to the asset being pegged to USD, the price at IPO time will vary. I will accept pre-orders of 500 units or more at .1175 BTC per unit for a limited time. I reserve the right to change the pre-ipo price as I see fit with currency fluctuation and the price will not be locked-in until I have received the BTC for your order. 7000 are available for pre-ipo sale, please PM me if interested. teek
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brendio
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July 17, 2012, 12:53:18 PM |
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Would you accept Mt Gox USD for pre-IPO shares?
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teek (OP)
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July 17, 2012, 02:13:53 PM |
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Would you accept Mt Gox USD for pre-IPO shares?
Yes.
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teek (OP)
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July 18, 2012, 04:10:44 PM |
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TEEK.USD pre-sale updated to .105 BTC per bond.
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teek (OP)
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July 19, 2012, 05:15:09 PM |
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bump for TEEK.USD
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teek (OP)
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July 20, 2012, 02:58:39 AM |
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TEEK.USD PRE-IPO - best deal around at .105 BTC, lock in the rate!
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teek (OP)
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July 22, 2012, 03:25:37 PM |
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TEEK.USD is live!
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teek (OP)
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July 22, 2012, 06:11:18 PM |
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Interest paid!
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teek (OP)
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July 29, 2012, 06:11:42 PM |
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Interest paid!
Today was the first interest payment for TEEK.USD, the BTCUSD rate used for todays calculation was 8.79516
teek
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unclescrooge
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July 29, 2012, 06:24:22 PM |
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Thanks teek for your great service
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teek (OP)
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July 29, 2012, 07:05:40 PM |
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Thanks teek for your great service You are very welcome. teek
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nimda
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July 30, 2012, 12:11:11 AM |
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Oh wow. I am going to buy a few shares of TEEK.USD. It's like depositing coins and then taking a short CFD for the total, but all in one click
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teek (OP)
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July 30, 2012, 03:52:46 AM |
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Oh wow. I am going to buy a few shares of TEEK.USD. It's like depositing coins and then taking a short CFD for the total, but all in one click glad someone likes it volume has been pitiful so far tho..
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Francesco
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August 04, 2012, 02:43:13 PM |
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Oh wow. I am going to buy a few shares of TEEK.USD. It's like depositing coins and then taking a short CFD for the total, but all in one click glad someone likes it volume has been pitiful so far tho.. Hm, taking TEEK.USD as a way to trade on BTC price inside GLBSE has rapidly proven one of the worst ways to waste my money I have come across in my life, HYP scams aside. But I guess I have learnt now. I can put BTC there, and if price goes down -profit! If not... hey, 1%/week on a USD deposit, what bank offers that? I can simply take that much money, buy new bitcoins, and the final effect will have been to move them to a much higher interest, without adding too much currency risk. Seen under this light, this is maybe the gretest asset ever
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teek (OP)
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August 04, 2012, 05:33:22 PM |
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Oh wow. I am going to buy a few shares of TEEK.USD. It's like depositing coins and then taking a short CFD for the total, but all in one click glad someone likes it volume has been pitiful so far tho.. Hm, taking TEEK.USD as a way to trade on BTC price inside GLBSE has rapidly proven one of the worst ways to waste my money I have come across in my life, HYP scams aside. But I guess I have learnt now. I can put BTC there, and if price goes down -profit! If not... hey, 1%/week on a USD deposit, what bank offers that? I can simply take that much money, buy new bitcoins, and the final effect will have been to move them to a much higher interest, without adding too much currency risk. Seen under this light, this is maybe the gretest asset ever In the bull market we are in yeah.. but hopefully volume will eventually pick up and the spread will tighten up.. Glad you like it. teek
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teek (OP)
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August 05, 2012, 04:28:01 PM |
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Interest paid!
The BTCUSD rate used for TEEK.USD was 10.64905
teek
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teek (OP)
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August 09, 2012, 03:51:20 PM |
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BTCUSD on fire right now, get some TEEK.USD @ .083333
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teek (OP)
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August 12, 2012, 07:37:09 PM |
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Interest paid!
TEEK.USD calculated @ 11.62933
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teek (OP)
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August 19, 2012, 05:51:10 PM |
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Interest paid!
The BTCUSD rate for TEEK.USD was 10.00261
Looks like we have an interesting week ahead of us..
teek
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lenny_
Legendary
Offline
Activity: 1036
Merit: 1000
DARKNETMARKETS.COM
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August 19, 2012, 06:00:18 PM Last edit: August 19, 2012, 06:18:25 PM by lenny_ |
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Q & A
-----
Q: Who are you?
A: I am debating getting verified on GLBSE. (...)
From 6th of May 2012 you cannot verify yourself on GLBSE. Sorry, but I am not going to invest in your assets. And I am warn others from doing so.Get yourself verified man, and then we speak again. We don't know who you are, and how long are you going to keep your business running before you run away with money.
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Francesco
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August 22, 2012, 08:52:13 PM |
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Q & A
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Q: Who are you?
A: I am debating getting verified on GLBSE. (...)
From 6th of May 2012 you cannot verify yourself on GLBSE. Sorry, but I am not going to invest in your assets. And I am warn others from doing so.Get yourself verified man, and then we speak again. We don't know who you are, and how long are you going to keep your business running before you run away with money. I hoped this question would have been answered by now. You seem a serious and reliable person overall, but not verifying and ignoring the ones that ask about it isn't exactly great for building trust.
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Shirik
Newbie
Offline
Activity: 32
Merit: 0
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August 23, 2012, 02:16:23 AM |
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How does the recent Pirate.... change... affect these funds? Most notably TEEK.B since TEEK.A is guaranteed.
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teek (OP)
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August 23, 2012, 05:47:00 AM |
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How does the recent Pirate.... change... affect these funds? Most notably TEEK.B since TEEK.A is guaranteed.
TEEK.A and TEEK.USD are guaranteed and are in no way affected or related to pirate / btcst. As I have mentioned before TEEK.B is partially exposed to pirate, but i am going to wait and see how this plays out before i make any decisions on anything etc. Until then, TEEK.B interest payments will continue as normal. teek
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teek (OP)
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August 23, 2012, 05:55:50 AM |
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Q & A
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Q: Who are you?
A: I am debating getting verified on GLBSE. (...)
From 6th of May 2012 you cannot verify yourself on GLBSE. Sorry, but I am not going to invest in your assets. And I am warn others from doing so.Get yourself verified man, and then we speak again. We don't know who you are, and how long are you going to keep your business running before you run away with money. I hoped this question would have been answered by now. You seem a serious and reliable person overall, but not verifying and ignoring the ones that ask about it isn't exactly great for building trust. I will ponder this again... I hadn't really thought of it much since.. As for building trust, I am one of the oldest remaining asset issuers on GLBSE, my oldest issue is turning 1 year old in a couple weeks, BMMO. I may be making some announcements in the next couple of weeks and if that is the case I will do my best to address this issue then. teek
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teek (OP)
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August 26, 2012, 05:01:50 PM |
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Interest paid!
The BTCUSD rate for TEEK.USD was 10.53880
teek
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Francesco
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August 27, 2012, 09:53:45 AM |
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How does the recent Pirate.... change... affect these funds? Most notably TEEK.B since TEEK.A is guaranteed.
TEEK.A and TEEK.USD are guaranteed and are in no way affected or related to pirate / btcst. As I have mentioned before TEEK.B is partially exposed to pirate, but i am going to wait and see how this plays out before i make any decisions on anything etc. Until then, TEEK.B interest payments will continue as normal. teek What kind of decisions, if I may ask? I guess "best effort basis" means you could lower payments, for as long as you need? Could you estimate a lower bound for the near future? Is there the risk of going below 1%?
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lenny_
Legendary
Offline
Activity: 1036
Merit: 1000
DARKNETMARKETS.COM
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August 30, 2012, 10:35:32 PM |
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Q & A
-----
Q: Who are you?
A: I am debating getting verified on GLBSE. (...)
From 6th of May 2012 you cannot verify yourself on GLBSE. Sorry, but I am not going to invest in your assets. And I am warn others from doing so.Get yourself verified man, and then we speak again. We don't know who you are, and how long are you going to keep your business running before you run away with money. I hoped this question would have been answered by now. You seem a serious and reliable person overall, but not verifying and ignoring the ones that ask about it isn't exactly great for building trust. I will ponder this again... I hadn't really thought of it much since.. As for building trust, I am one of the oldest remaining asset issuers on GLBSE, my oldest issue is turning 1 year old in a couple weeks, BMMO. I may be making some announcements in the next couple of weeks and if that is the case I will do my best to address this issue then. teek We don't care how long you are there. Good managed ponzi can run for months or years. We all can see how long pirateat40 was there and now it's all gone. All we need is your verification. If you are going to ignore our will, nobody will bother about investing in such risky investment fund as yours. If you going to Bitcoin Conference in London, we can meet together and speak.
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teek (OP)
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September 02, 2012, 07:19:25 PM |
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Interest paid on TEEK.A and TEEK.USD
The BTCUSD rate for TEEK.USD was 9.97039 As many of you already know it looks like TEEK.B is taking a NAV hit. I have paid .01 BTC per bond this week, I am waiting 1 or 2 more weeks to make anything official to see how things progress while shifting gears on other TEEK.B business to make up for the shortfall. If the situation remedies itself the .02 shortages will be paid to each bond.
All in all, this a short term problem for the TEEK assets. In both our growing on-line community and in the day to day real world, bitcoin commerce is growing and opportunity is at an all time high. We will grow with it.
teek
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teek (OP)
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September 09, 2012, 08:56:46 PM |
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Interest paid for TEEK.A and TEEK.USD! The BTCUSD rate for TEEK.USD was 11.06228.
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teek (OP)
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September 09, 2012, 08:57:18 PM |
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TEEK.B News -----------
TEEK.B has had a bit of a rough ride. Currently 50% of the TEEK.B capital can be accounted for in a semi-liquid usable form that is generating any interest. The other 50% is tied up in BTCST and Bitcoinica, in at best an unsuable illiquid form for the time being. You can decide for yourself if you think any or all of it is coming back or not. If you choose to continue to hold TEEK.B and the btc or percentage thereof is returned, it will be divided equally amongst all outstanding TEEK.B without prejiduce. You must hold the asset at the exact time of payment to be entitled to the payment.
TEEK.B is still involved in two ventures that are turning a profit, albeit they are fairly small at the moment. These projects are being agressively pursued. Details on one of them will be posted in the near future.
TEEK.B will continue to pay partial interest on a best effort basis in its degraded state. The minimum liquidity value has been revised to 0.5 BTC.
For those who choose to continue to support TEEK but wish to get out of TEEK.B, some options:
- I will accept 3 TEEK.B for 2 TEEK.A
- I will accept 1 TEEK.B for 6 TEEK.USD
For those just wanting to get out, the minimum liquidity provision at the new adjusted value of 0.5 BTC will be honored.
I hope you find that I have been as open and transparent as I can be given the situation.
teek
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teek (OP)
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September 09, 2012, 08:58:35 PM |
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TEEK News -----------
In light of all that is happening in the Bitcoin world lately, TEEK.A and TEEK.USD remain strong while TEEK.B and TEEK.PPT have both taken a serious hit.
A major re-alignment is happening before our eyes in the Bitcoin assets and lending world. A major liquidity crunch is in effect, and can be felt all over. When doors close, others open and there are opportunities open at the moment that simply didn't exist a few weeks ago, peoples expectations are rapidly changing.
For people who want to make sure their BTC is working for them at low / no risk, TEEK.A and TEEK.USD are extremely under utilized. These assets were built to be used together to provide a secure and most importantly sustainable growth for your BTC, with a hedging component. No there isn't 3% here, but there is a reason why.
For those who want to assume the higher risk profile, I beleive TEEK.B will be ready to shine again soon. It is difficult to make multiple percent per week consistently for a time but it is not impossible by any means. Of course there is risk involved and I don't want this to turn into a conversation about pirate or what he was or wasn't doing.
In the past few weeks, people have again questioned why I am not verified on GLBSE. I know there are a few people on the forums who I have dealt with numerous times and have supported my efforts, I have no reason to believe they won't continue to do so as is. I am not sure how many people are avoiding TEEK because of the verifcation status. If I see enough demand for a fully verified TEEK, I will contact Nefario and do so.
Liquidity is tight for TEEK at the moment, but I hope to make some more announcements as soon as things settle down a little.
Thank you for your continued support.
teek
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unclescrooge
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September 09, 2012, 09:01:20 PM |
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Wasn't teek.b supposed to not be involved in BCS&T anymore?
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Deprived
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September 09, 2012, 09:23:41 PM |
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Hello fellow Bitcoiners!
---SNIP ---
A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds.
What time do you put these bids up?
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teek (OP)
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September 09, 2012, 10:06:31 PM |
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Wasn't teek.b supposed to not be involved in BCS&T anymore?
It was always partially exposed.. Hello fellow Bitcoiners!
---SNIP ---
A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds.
What time do you put these bids up? . At some point during the day on Sundays I check the order book and if there are any asks the match I fill them. The minimum liquidity level for TEEK.B has been adjusted to 0.5 BTC, there were no matching asks for that today. The ones for TEEK.A and TEEK.USD have already been executed for today. It is not a standing bid, if you want to take advantage of it please put your ask up prior to Sunday. teek
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Deprived
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September 09, 2012, 10:23:24 PM |
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Wasn't teek.b supposed to not be involved in BCS&T anymore?
It was always partially exposed.. Hello fellow Bitcoiners!
---SNIP ---
A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds.
What time do you put these bids up? . At some point during the day on Sundays I check the order book and if there are any asks the match I fill them. The minimum liquidity level for TEEK.B has been adjusted to 0.5 BTC, there were no matching asks for that today. The ones for TEEK.A and TEEK.USD have already been executed for today. It is not a standing bid, if you want to take advantage of it please put your ask up prior to Sunday. teek Yeah, didn't make it clear but meant teek.a not teek.b Below is current asks for teek.a ASKS QUANTITY PRICE 22 0.87499 37 0.875 100 0.91 12 0.98 2 0.999 4806 1.0 It looked similar earlier - though it's possible all those were added today. Reason I asked is because IF you're actually honouring your contract then if orders look similar next saturday I can obviously buy the 0.89 ones and flip them back to you at 1.0. Obviously if anyone who put up the orders at 1.0 or lwoer did so prior to today then that would make you a liar (as there's no trade volume today approaching 5% of issued shares). As that would be rather a stupid (and easily proven) lie I'll assume you're telling the truth and keep an eye on the order book for an opportunity to make some very easy money next week.
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Francesco
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September 10, 2012, 08:42:02 AM |
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For those who want to assume the higher risk profile, I beleive TEEK.B will be ready to shine again soon. It is difficult to make multiple percent per week consistently for a time but it is not impossible by any means. Of course there is risk involved and I don't want this to turn into a conversation about pirate or what he was or wasn't doing.
TEEK.B is still involved in two ventures that are turning a profit, albeit they are fairly small at the moment. These projects are being agressively pursued. Details on one of them will be posted in the near future.
What level of confidence do you have they are real risky ventures and not scams? I didn't interpret the contract in the sense that you could lower the buyback price, but I can't say I didn't expect something similar, I understand it was probably too much to hope you would pay from your pocket. In the past few weeks, people have again questioned why I am not verified on GLBSE. I know there are a few people on the forums who I have dealt with numerous times and have supported my efforts, I have no reason to believe they won't continue to do so as is. I am not sure how many people are avoiding TEEK because of the verifcation status. If I see enough demand for a fully verified TEEK, I will contact Nefario and do so.
I would probaby invest more in TEEK.USD if you were verified. Low risk, no public business model, and not even verification don't go along really well, so I am holding from investing too much at the moment.
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lenny_
Legendary
Offline
Activity: 1036
Merit: 1000
DARKNETMARKETS.COM
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September 10, 2012, 09:22:56 PM |
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I am not investing with this at all. Sorry but no again another ponzi-scam. Unverified guy "teek" without address, ID, even e-mail address. No thanks! He will dissapear one day without warning and you will do nothing about it. I am also warning all of you guys.
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teek (OP)
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September 16, 2012, 07:52:47 PM |
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Interest paid! TEEK.USD @ 11.85934
teek
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teek (OP)
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September 24, 2012, 02:22:12 AM |
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Interest paid! TEEK.USD @ 11.99856
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🏰 TradeFortress 🏰
Bitcoin Veteran
VIP
Legendary
Offline
Activity: 1316
Merit: 1043
👻
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September 24, 2012, 04:21:02 AM |
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TEEK sounds like ZEEK which is a PONZI.
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lenny_
Legendary
Offline
Activity: 1036
Merit: 1000
DARKNETMARKETS.COM
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September 24, 2012, 06:58:57 AM |
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TEEK is scam. Guy cannot verify himself on GLBSE, I asked him several times, not only me by the way, but he is ignoring investor's questions. I am warn anyone before will be too late!
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Francesco
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September 24, 2012, 11:59:34 AM |
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TEEK is scam. Guy cannot verify himself on GLBSE, I asked him several times, not only me by the way, but he is ignoring investor's questions. I am warn anyone before will be too late!
Not being verified on GLBSE does not mean he is a scammer. I know who TEEK is and where he lives and he knows the same about me. Neither one of us are scammers because we do not trust Nefario with our ID (I assume this is why TEEK won't give his ID to Nefario, I sure as hell won't). Nefario last week posted passport photos of a guy who Nefario at the time thought was a scammer. I would also like to say that Nefario is not Verified and we do not have his ID either. Teek has been listed on GLBSE for over a year and I highly doubt he scammed you... If I understand who you're referring to, don't we still think he is a scammer? Anyway, I agree we do need a way to be less dependendt on Nefario's judgment. Maybe there should be a vote, just like for scammer tags. He can issue motions, how about a bounding "we think issuer is a scammer, do you agree on freezing the asset, releasing his informations and prosecuting him?". .... TEEK sounds like ZEEK which is a PONZI.
Now that's a profound analysis
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cheapster
Newbie
Offline
Activity: 25
Merit: 0
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September 29, 2012, 02:46:23 AM |
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Hi Teek. I would like more information on how the 'minimum liquidity' level is established. I don't see a whole lot of volume on the teek.a security. Certainly not 5% of the outstanding bonds are being repurchased weekly as some weeks zero bonds get purchased at all. Thanks for the clarification.
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Deprived
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September 29, 2012, 06:52:41 AM |
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Hi Teek. I would like more information on how the 'minimum liquidity' level is established. I don't see a whole lot of volume on the teek.a security. Certainly not 5% of the outstanding bonds are being repurchased weekly as some weeks zero bonds get purchased at all. Thanks for the clarification.
According to his contract he's suppsoed to palce a bid-wall each week. According to what he told me when I asked in this thread, he doesn't do that - instead he manually buys back shares listed at below that price. According to market data and the evidence of one's eyes he doesn't honour his commitment to buy abck up to 5% of outstanding shares on teek.a and teek.usd each week at all. I actually considered buying up the shares listed at well below 1, relisting them at .995 then prodding him to buy them back (for a quick 10%+ profit) - but given that he's clearly lieing about buying them back I had zero confidence that he wouldn't just vanish rather than do what he's contractually obliged to do. Look back up the thread to where I asked about it (when I was researching securities to find ones to invest in). If you've had a sell order up below 1 over a weekend then you personally KNOW that he's lieing (and even if he's doing what he claimed in response to me, it's in no way the same as doing what his contract SAYS he'll do).
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teek (OP)
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September 29, 2012, 03:01:16 PM |
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The bid wall only matches what orders are there at the time and it is removed. If you want to take advantage of the minimum liquidity simply place your ask before Sunday. Things are tight for me and alot of other people, the market is completely liquidity crunched, but I have still been buying back for weeks and trying to accommodate asset holders who contact me directly with reasonable requests.
TEEK.A - 493 - 5% = 25 units @ up to 1 BTC TEEK.B - 867 - 5% = 44 units @ up to .5 BTC TEEK.USD - 2147 - 5% = 108 units @ up to 0.08069 BTC
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teek (OP)
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September 29, 2012, 03:05:41 PM |
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Look back up the thread to where I asked about it (when I was researching securities to find ones to invest in). If you've had a sell order up below 1 over a weekend then you personally KNOW that he's lieing (and even if he's doing what he claimed in response to me, it's in no way the same as doing what his contract SAYS he'll do).
Did you take into account that other people might of had asks lower than you that were filled first thus you didn't make the cut?
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Deprived
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September 29, 2012, 04:39:29 PM |
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Look back up the thread to where I asked about it (when I was researching securities to find ones to invest in). If you've had a sell order up below 1 over a weekend then you personally KNOW that he's lieing (and even if he's doing what he claimed in response to me, it's in no way the same as doing what his contract SAYS he'll do).
Did you take into account that other people might of had asks lower than you that were filled first thus you didn't make the cut? In fairness, it does appear you've been buying back shares last few weeks. But if you look back further you find: 2012-08-12 15:18 1.635 545 0.003 2012-08-19 13:36 1.635 545 0.003 2012-08-26 12:34 1.635 545 0.003 three weeks where the share traded consistently below 1.0 but outstanding shares remained the same (545). The price remained below 1.0 - but new shares were sold the next few weeks (so no way to tell easily whether buybacks happend). Then next few weeks shares outstanding dropped - whether on a Sunday (or form you buying up via lowball bids) is not possible to tell. Do note that your contract says you'll put up a bid-wall at 1.0. If you have to buy back shares priced below 1.0 before you CAN put up the bidwall then that's, in theory, your problem - your job is to gtet the bidwall up. I DO believe that wasn't your intent (as it could commit you to buying back all shares at once) and wouldn't try to enforce that - but it IS what you wrote in your contract. To my mind if you buy backk 5% each sunday (the lowest asks) then that's fair - just not what you said you'd do (and, for a few weeks at least, not what you were doing).
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teek (OP)
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September 29, 2012, 10:30:48 PM |
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Look back up the thread to where I asked about it (when I was researching securities to find ones to invest in). If you've had a sell order up below 1 over a weekend then you personally KNOW that he's lieing (and even if he's doing what he claimed in response to me, it's in no way the same as doing what his contract SAYS he'll do).
Did you take into account that other people might of had asks lower than you that were filled first thus you didn't make the cut? In fairness, it does appear you've been buying back shares last few weeks. But if you look back further you find: 2012-08-12 15:18 1.635 545 0.003 2012-08-19 13:36 1.635 545 0.003 2012-08-26 12:34 1.635 545 0.003 three weeks where the share traded consistently below 1.0 but outstanding shares remained the same (545). The price remained below 1.0 - but new shares were sold the next few weeks (so no way to tell easily whether buybacks happend). Then next few weeks shares outstanding dropped - whether on a Sunday (or form you buying up via lowball bids) is not possible to tell. Do note that your contract says you'll put up a bid-wall at 1.0. If you have to buy back shares priced below 1.0 before you CAN put up the bidwall then that's, in theory, your problem - your job is to gtet the bidwall up. I DO believe that wasn't your intent (as it could commit you to buying back all shares at once) and wouldn't try to enforce that - but it IS what you wrote in your contract. To my mind if you buy backk 5% each sunday (the lowest asks) then that's fair - just not what you said you'd do (and, for a few weeks at least, not what you were doing). ? If the asks aren't there, the asks aren't there, no where in my contract does it say there will be a standing bidwall at X. No it is not my problem, my contract says i will place a bid for 5% at 1, whatever gets eaten by that bid at whatever price is what gets bought, end of story.
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teek (OP)
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September 30, 2012, 10:47:58 PM |
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Interest paid! TEEK.USD @ 12.38664
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lenny_
Legendary
Offline
Activity: 1036
Merit: 1000
DARKNETMARKETS.COM
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September 30, 2012, 10:54:07 PM |
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Ponzi warning!I want to warn anyone investing with this guy, that he is not verified at all with GLBSE, and all his investment funds are Ponzi schemes. This is for sure scam, as he ignores investors requests to identify himself. Probably running behind a VPN or something, one day he will run away with all your money. Be aware of it!
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