[GLBSE] TEEK Funds - crowdsourced loans / p2p economics. NEW: TEEK.USD

[teek]

Interest paid!

TEEK.USD calculated @ 11.62933

[teek]

Interest paid!

The BTCUSD rate for TEEK.USD was 10.00261

Looks like we have an interesting week ahead of us.. 

teek

[lenny_]

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.

[Francesco]

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.

[Shirik]

How does the recent Pirate.... change... affect these funds? Most notably TEEK.B since TEEK.A is guaranteed.

[teek]

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

 

[teek]

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

[teek]

Interest paid!

The BTCUSD rate for TEEK.USD was 10.53880
 

teek

[Francesco]

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%?

[lenny_]

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.

[teek]

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

[teek]

Interest paid for TEEK.A and TEEK.USD!   The BTCUSD rate for TEEK.USD was 11.06228.

[teek]

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

[teek]

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

[unclescrooge]

Wasn't teek.b supposed to not be involved in BCS&T anymore?

[Deprived]

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?

[teek]

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

[Deprived]

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.

[Francesco]

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.

[lenny_]

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.