Charlie Shrem is scammer, watch out

[Yankee (BitInstant)]

]If you are paying interest and it will likely take a long time sell the two coins why don't you just send one of the 25 BTC coins back to braek to cover the majority of the rest of the debt?

It won't take a long time. I've already sent most of the physicals for grading or sold them. I can send them back to him, but by that time the debt will likely be paid.

The interest works in everyones favor. I am incentivized to pay him faster, and I've started the interest from 6 weeks ago to be fair.

Thanks

Charlie

[bracek]

months are passing, no money coming in...

[tmfp]

months are passing, no money coming in...

What else can you do about it?
This thread only seems to be getting you unfulfilled promises....

[smoothie]

months are passing, no money coming in...

Did Charlie provide an actual payment schedule?

This seems to be an ongoing thing.

[smoothie]

I've paid 154 BTC for selling a total of 189.3 BTC worth of physical coins. That is 81.5% of the debt has been repaid and I am consistently repaying the debt here. I am not debating the validity of the debt.

As promised I will keep sending coins as I sell physicals until this debt has been repaid.

You guys can keep posting here every day, claiming I am a scammer, while in the background I will keep sending Bracek coins to repay the debt. I have never scammed anyone before, nor do I plan on doing so.

Will post again when more coins are sent.

I think the confusing thing is whether you have paid 100% of the proceeds you have actually received from selling Bracek's coins (leaving aside any compensation you were getting for arranging the sale).

If you haven't, then that seems to be different from the agreed transaction (essentially sell Casascius coins on consignment), and also seems to imply that you do not have the funds to pay Bracek.

If you don't have the funds because you haven't sold the coins, or are awaiting payment, then its a different story.

If not, if I was Bracek, I would be concerned both that you changed the term of the deal, and also that I have no visibility into how you plan to obtain funds to pay me... Especially given that my counterparty is awaiting sentencing that include forfeiture, penalties and possibly jail time.  

That makes sense, and concerning as well.

If you scroll to earlier posts, I addressed this. Originally the deal was for me to pay Bracek when I sell the coins. I got a little cocky early on and would pay him immediately upon receiving the physicals knowing I would be able to sell the coins. At this point, I still have some physicals coins that I already paid him for many weeks ago.

Unfortunately, our deal was not properly laid out. It did not go beyond "Pay me when you sell the coins". There was no contingency in place. I set a precedent by prematurely sending coins before I sold them. You can say that I effectively changed the deal to Braceks benefit by paying him earlier.

I do have enough physical coins to pay the rest of the debt. I mentioned earlier, I have sent over a dozen physical coins to be graded as well as privately selling coins on the forums. Every few days when I make a sale, I have been sending him the BTC, including this morning I sent another 2.

-Charlie

Personally I think you should go the extra mile in your repayment and make it worth bracek's time waiting. Otherwise you just got an interest free loan.

This thread is motivation for you to make things right with bracek and your debt. Only since this thread started did you really start to be responsive obviously to protect your image naturally. Remember this debt has been in the making since August. 3 months ago.

I've been paying back Bracek before this thread even started, and continued. In fact, most of the coins were sent to him before this thread was started.

You are more than welcome to call a spade a spade, call me a scammer, do whatever you want. I have never scammed anyone, always paid back debts and I dont plan on stopping now. The fact that I paid back over 80% can attest to that.

As for the delay, I am happy to pay the standard interest rate of prime + 1% in interest for the rest of the funds.

Currently, 35.3 BTC is left to be paid (out of 189.3)

4.25% (Prime 3.25% + 1%) = 1.5 BTC annually or effectively 0.03 weekly with compounding interest.

This is for the first 4 weeks:

Year   Week    Starting Value   Multiplier   Interest Earned   End Value
0   1   35.30   0.0815113156885 %   0.03   35.33
0   2   35.33   0.0815113156885 %   0.03   35.36
0   3   35.36   0.0815113156885 %   0.03   35.39
0   4   35.39   0.0815113156885 %   0.03   35.42

After every payment, we will recalculate the interest.

Source: http://www.ginifab.com/feeds/compound_interest_calculator/?p=35.3&r=4.25&m=52.14&t=1&fv=36.83&rr=4.34

You really need to set a payment schedule and stick to it and stop wavering on what you say versus what you do. This is the kind of shady crap that people take and equate to scammers.

[bracek]

he said he will pay weekly (amounts of about 10 btc), on the day this thread was created...

my read was good all along, he is a scammer.
a fine one

that's the way you do it,
money for nothing...

any suggestions on how to turn the remaining debt into some kind of bounty ?
for fun, since he is having it from the beginning

it should get interesting if btc gains in value...

[smoothie]

Bracek when was your last communication with Charlie? Via any means?

[Rawted]

I had a feeling this would happen. This practically mirrors my interactions with Charlie/Bitinstant since Feb of 2013.

[bracek]

Bracek when was your last communication with Charlie? Via any means?

off this thread, maybe 2 months ago, I see no point in contacting him,
only public pressure...

[smoothie]

]If you are paying interest and it will likely take a long time sell the two coins why don't you just send one of the 25 BTC coins back to braek to cover the majority of the rest of the debt?

It won't take a long time. I've already sent most of the physicals for grading or sold them. I can send them back to him, but by that time the debt will likely be paid.

The interest works in everyones favor. I am incentivized to pay him faster, and I've started the interest from 6 weeks ago to be fair.

Thanks

Charlie

Over two weeks and still no progress or communication from you.

Very bad as you keep claiming you are a man of your word yet you go silent when it matters.

A payment schedule you stick to would be the only thing I can see to salvage your reputation. Stringing things along longer and longer only makes you look more like a scammer.

[tmfp]

According to his Twitter feed, the coin shouldn't be a problem, looks like he's found "a good way".....



I'm interested in options, so I had a look at them, saw Belize in the t&c and read this standard stuff

"We're a bunch of bitcoin enthusiasts, traders and programmers who have been involved in the Bitcoin space from the very beginning."

I'm sure they're legit, but I wonder how many people have been involved in Bitcoin "from the very beginning". Thousands, if all the claimants are to believed.

[bracek]

I sent a link of this thread to his tweeter,
but I can't see/find it anywhere...

any idea why ?

[drcore]

thats shit load of bitcoin... 60 btc..

at least the op is attempting to pay back.. then nothing at all.

[swansong]

he should have paid a long time ago.
even if he pays today, it shows me he is not a man of his word. even tho i don't know about OP, I am stressed for 60 BTC! it is a lot of money.

[bracek]

he should have paid a long time ago.
even if he pays today, it shows me he is not a man of his word. even tho i don't know about OP, I am stressed for 60 BTC! it is a lot of money.

as I said long time ago,
he decided to cash in on his reputation here,

if you see in his feedback/reputation history,
my deal was his first bigger deal and he took off with the money

[smoothie]

he should have paid a long time ago.
even if he pays today, it shows me he is not a man of his word. even tho i don't know about OP, I am stressed for 60 BTC! it is a lot of money.

This is exactly how I see it.

Charlie Shrem is not a man of his word even though he may pay back this debt some day  

Very disappointing that he manipulated a user with his reputation to get something for nothing (in terms of not paying for what was sent to him even after he sold some of it.)

As I found the 25 btc coins were sold in August and were never paid to bracek even though they were sold.

This is robbing Peter (bracek) to pay paul (charlie's bills etc.).

[smoothie]

he should have paid a long time ago.
even if he pays today, it shows me he is not a man of his word. even tho i don't know about OP, I am stressed for 60 BTC! it is a lot of money.

as I said long time ago,
he decided to cash in on his reputation here,

if you see in his feedback/reputation history,
my deal was his first bigger deal and he took off with the money

Keep bumping this thread every other day or so until he pays it all back (if he does).

[smoothie]

]If you are paying interest and it will likely take a long time sell the two coins why don't you just send one of the 25 BTC coins back to braek to cover the majority of the rest of the debt?

It won't take a long time. I've already sent most of the physicals for grading or sold them. I can send them back to him, but by that time the debt will likely be paid.

The interest works in everyones favor. I am incentivized to pay him faster, and I've started the interest from 6 weeks ago to be fair.

Thanks

Charlie

ORLY?

[Blazed]

Wow I am really surprised he has not taken care of this yet. I have done a few deals with Charlie and never an issue, but I totally understand while OP is pissed. I really hope Charlie gets this sorted out ASAP as it does look pretty bad.

Not that it matters, but I personally  think he will get this paid off + the interest due. We all know he has gone through a bunch of legal issues, and I am sure that has a lot to do with this lack of reply/payment.

[bitcoin_bagholder]

Bracek, I'd be pissed too if I was you. Good luck, hope you get paid.

Blazedout, I agree there's a good chance the debt is eventually paid. Charlie could have a cash flow problem and doesn't want to admit it.