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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: [GLBSE] TEEK Funds - crowdsourced loans / p2p economics. NEW: TEEK.USD  (Read 7613 times)
teek
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September 16, 2012, 07:52:47 PM
 #101

Interest paid!  TEEK.USD @ 11.85934

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teek
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September 24, 2012, 02:22:12 AM
 #102

Interest paid!  TEEK.USD @ 11.99856


TradeFortress
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September 24, 2012, 04:21:02 AM
 #103

TEEK sounds like ZEEK which is a PONZI.
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September 24, 2012, 06:58:57 AM
 #104

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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September 24, 2012, 11:59:34 AM
 #105

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?  Roll Eyes

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  Cheesy
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September 29, 2012, 02:46:23 AM
 #106

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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September 29, 2012, 06:52:41 AM
 #107

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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September 29, 2012, 03:01:16 PM
 #108

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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September 29, 2012, 03:05:41 PM
 #109



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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September 29, 2012, 04:39:29 PM
 #110



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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September 29, 2012, 10:30:48 PM
 #111



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.
 

teek
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September 30, 2012, 10:47:58 PM
 #112

Interest paid!  TEEK.USD @  12.38664

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September 30, 2012, 10:54:07 PM
 #113


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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