[GLBSE] GIPPT Delisting 100% paid.

[dust]

It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.

By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back.  

Says the guy that was offered a buyout and refused it because he'd rather bitch.

I also refused it because it would unfair to all of the other unpaid investors who have remained quiet.

Additionally, I have offered to buy a chunk of your 10k ASICMINER shares at close to market value to enable you to pay your debts.

Interesting. So Imsaguy has the funds he just doesnt want to sacrifice his shares....thats not showing good faith to pay back insurance contracts.

10k ASICMINER shares won't cover the insurance.

Imsaguy only owed BTC3750 to ineededausername, the other part of the insurance was covered by deposits with hashking.  Imsaguy claimed on irc to have paid back 75% of it, which makes sense because hashking has probably paid back much less of his part if any.  If this is true, he only owes BTC937.5, and 10k ASICMINER is worth about BTC1100.

[BinaryMage]

It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.

By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back.  

Says the guy that was offered a buyout and refused it because he'd rather bitch.

I also refused it because it would unfair to all of the other unpaid investors who have remained quiet.

Additionally, I have offered to buy a chunk of your 10k ASICMINER shares at close to market value to enable you to pay your debts.

Interesting. So Imsaguy has the funds he just doesnt want to sacrifice his shares....thats not showing good faith to pay back insurance contracts.

10k ASICMINER shares won't cover the insurance.

Imsaguy only owed BTC3750 to ineededausername, the other part of the insurance was covered by deposits with hashking.  Imsaguy claimed on irc to have paid back 75% of it, which makes sense because hashking has probably paid back much less of his part if any.  If this is true, he only owes BTC937.5, and 10k ASICMINER is worth about BTC1100.

Ah, I stand corrected. Note to self: Read the whole thread before posting stupid things.

Thanks Dust.

[Timbo925]

So what is the plan? Any timeframe for the payback yet?

[DeaDTerra]

So what is the plan? Any timeframe for the payback yet?

The plan right now is to keep the conversation with the depositors and settle anyone that would like to trade their GIPPT shares for debt. We are offering +10% if you take IMSAGuy or HK debt
There's no timeframe atm as it depends on the depositors.
//DeaDTerra

[Rockefoten]

It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.

By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back. 

This. Has INAU stated any (good) reason for not fulfilling his obligation?

[Rockefoten]

So what is the plan? Any timeframe for the payback yet?

The plan right now is to keep the conversation with the depositors and settle anyone that would like to trade their GIPPT shares for debt. We are offering +10% if you take IMSAGuy or HK debt
There's no timeframe atm as it depends on the depositors.
//DeaDTerra

Thank you, but no thank you. I believe that you (DT) will have a greater chance of success recovering this debt on my behalf, than I would myself. I trust that you will work hard on doing this regardless of how many take you up on this offer.
This situation really makes "100% insurance" a laughing-stock and I am beginning to feel fed up. I must admit I'm beginning to feel hesitant to ever invest with you again, though I realize it is not directly your fault.
Or maybe more correctly:
If everything is repaid time will pass and all will be forgiven and forgotten.
Otherwise it will never be forgiven nor forgotten.

[lenny_]

I can agree with Rockefoten. We, investors, as a whole, don't need to care about problems, we just require 100% face value back. I also agree that you have bigger chances to recover debt then we have.

[dust]

It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.

By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back. 

This. Has INAU stated any (good) reason for not fulfilling his obligation?

INAU has not posted on this forum since Sept. 8th, despite being online frequently.

[dust]

Bumping for visibility, coins still not paid.

[ADgordo]

So what is the plan? Any timeframe for the payback yet?

The plan right now is to keep the conversation with the depositors and settle anyone that would like to trade their GIPPT shares for debt. We are offering +10% if you take IMSAGuy or HK debt
There's no timeframe atm as it depends on the depositors.
//DeaDTerra

What kind of assurance do we get that our debt will be paid off before IMSAGuy's or HK's other debts? 

[Undefined31415]

Is GIPPT still paying out dividends? (Even after pirate defaulted?)

[dust]

So what is the plan? Any timeframe for the payback yet?

The plan right now is to keep the conversation with the depositors and settle anyone that would like to trade their GIPPT shares for debt. We are offering +10% if you take IMSAGuy or HK debt
There's no timeframe atm as it depends on the depositors.
//DeaDTerra

What kind of assurance do we get that our debt will be paid off before IMSAGuy's or HK's other debts? 

Why should INAU be given preferential treatment over other creditors?

Speaking of INAU, why has he not posted in this thread recently?

[DeaDTerra]

So what is the plan? Any timeframe for the payback yet?

The plan right now is to keep the conversation with the depositors and settle anyone that would like to trade their GIPPT shares for debt. We are offering +10% if you take IMSAGuy or HK debt
There's no timeframe atm as it depends on the depositors.
//DeaDTerra

Thank you, but no thank you. I believe that you (DT) will have a greater chance of success recovering this debt on my behalf, than I would myself. I trust that you will work hard on doing this regardless of how many take you up on this offer.
This situation really makes "100% insurance" a laughing-stock and I am beginning to feel fed up. I must admit I'm beginning to feel hesitant to ever invest with you again, though I realize it is not directly your fault.
Or maybe more correctly:
If everything is repaid time will pass and all will be forgiven and forgotten.
Otherwise it will never be forgiven nor forgotten.

He was warned about the risks and I did try to talk him out of this. I do feel bad for DeadT as he did just trust the wrong guys but then again it was hs job to see if he should trust them or not...

Still think this was "slander" or a correct valuation on the situation?    I know that my posting this hurt our business relationship and that is why I tried to talk you out of this. I'm not happy you think I was personally attacking you and will still post of this in your thread if you wish. I still think lending pirate insurance money to pirate is "fail". And now I hope that you can see why.

Some corrections as I see them,

YARR only pays 6% (not 7%) a week and I would pay 5.5%

I do not know that Pirate will default in the next few days. I will be placing 1 BTC per bond into Pirate so if he does default it is a massive loss for me. I would not only lose the 1 BTC pirate has but I would also lose the .5 BTC premium and the .5BTC of my own funds to cover. I'm clearly betting pirate will not default.

I will convert TyGrr.Bond-P to this if people have a decent amount. 3 or 4 shares, just sell and rebuy.

Pirate has said he thinks this will last 6 more months and as a Trust account I will not be at risk to have funds pushed out.

I am doing this because I do not like the other insurance options. YARR is backed by bonds and stocks and that is pretty safe but not like solid safe. We do not fully know how much the GLBSE assets will be worth if there is a pirate fail. Other people might know but how many of the bonds and loans and what not are indirectly pirate backed? Seeing the coins in the block chain is really safe IMO.

Now what DeadT is trying to market is just fail and I have talked to him about this. I do not know if he is still going to do it or not. Let us think about what is going on. He will take 100% of the coin you send him and then he will place it in escrow. That means he has 0 BTC left to send to Pirate. Also he needs to make 2.5% somehow so that escrow coins will be invested. How? Well what is the only way right now to make more than 2.5% ?  Send the coins to pirate...


That is the problem here.. When you loan out the insurance money to people who then send it to pirate you get massive defaults.

The point of insurance is that you are sure it is there to pay out when you need it.

With this you will be sure 75% is there. You will just have to trust me to get the other 25%  With the other bonds you will have questions. With DeadT he is only insuring 5% of it himself the rest is being sent to people who loan Pirate money.

It is just sillyness and honestly is why I am doing this. I'm trying to help out the BTC securities market and make it safer and more sound.

Thanks.

I am pretty sure that, it was not like that our conversation went Goat I remember that you were very interested in buying a couple of thousand, but ofc that was before vegas ^^
I am going through with it , I have crunched the number and gone over it several time it works.
Why would I need to make 2.5% with the escrowed money?
Someone buys 1 bonds. That one btc is sent to pirate, another BTC is sent to ImsaGuy. The Pirate payment pays 7% and ImsaGuy pays around 1-2%. Then we pay out 2,5%. What in this calculation is impossible?
Yes I am only personally insuring 5%, the rest is insured by a well known and trustable lender called IneedAuserName . But he will not have access to the coins used as backing they will be with Imsaguy as mentioned above.

So please stop the slandering Goat it's unnecessary...
//DeaDTerra

Slander?? What is Imsaguy going to do with the borrowed funds to pay off the 2%? We all know he is well known for borrowing coins and sending them to Pirate.

My guess is, and yes its is a guess not a fact, that your insurance money will end up with Pirate.

I'm doing this because people now have an option to know where the insurance money is.

I was going to buy your bonds when I thought the insurance money was going to be stored offline or in the hands of someone I trusted.

I'm not trying to attack you and do with you the best of luck. It might end well for you anyway as I don't think Pirate will default.

Peace

Yes if you would have posted this on my asset page, or sent me a pm or such then I would have been fine with it. But posting it in your own asset to shit talk my asset so people buy yours, now that's not really nice now is it ?
Imsaguy makes a majority of his interest rate from mining, and has a low pirate exposure

Of course they do and I have been clear where they go from the start.

We will see, I have no intention of letting our insured funds reach pirate, I will keep track of them and make sure that all parties, is aware of what's expected and required of them!

Best of luck to you as well, May your investments prosper and Pirate never default xD

//DeaDTerra

I will be happy to post this on your asset page. I did not do it because I felt that would be rude. I will do so when I get back.

"Imsaguy makes a majority of his interest rate from mining, and has a low pirate exposure"  I hope that is a joke :/

But anyway selling the BTC in a rising market is fail. He will ahve to sell the BTC to get computers. If BTC doubles again half your insurance money is gone.

Mining is the only other option to try and get 2.5% a week but thats not going to happen most weeks. It is just crazyness.

Good luck.

INAU is not running, he has not left and he does not plan to default.
I talked to him yesterday and he was still determined to payback, with a slow and steady payback plan.
Unfortunately the whole depositor scandal is slowing us down as it's a slow process of paybacks, but rest assure that INAU has no intention of defaulting.
//DeaDTerra

[dust]

So what is the plan? Any timeframe for the payback yet?

The plan right now is to keep the conversation with the depositors and settle anyone that would like to trade their GIPPT shares for debt. We are offering +10% if you take IMSAGuy or HK debt
There's no timeframe atm as it depends on the depositors.
//DeaDTerra

Thank you, but no thank you. I believe that you (DT) will have a greater chance of success recovering this debt on my behalf, than I would myself. I trust that you will work hard on doing this regardless of how many take you up on this offer.
This situation really makes "100% insurance" a laughing-stock and I am beginning to feel fed up. I must admit I'm beginning to feel hesitant to ever invest with you again, though I realize it is not directly your fault.
Or maybe more correctly:
If everything is repaid time will pass and all will be forgiven and forgotten.
Otherwise it will never be forgiven nor forgotten.

He was warned about the risks and I did try to talk him out of this. I do feel bad for DeadT as he did just trust the wrong guys but then again it was hs job to see if he should trust them or not...

Still think this was "slander" or a correct valuation on the situation?    I know that my posting this hurt our business relationship and that is why I tried to talk you out of this. I'm not happy you think I was personally attacking you and will still post of this in your thread if you wish. I still think lending pirate insurance money to pirate is "fail". And now I hope that you can see why.

Some corrections as I see them,

YARR only pays 6% (not 7%) a week and I would pay 5.5%

I do not know that Pirate will default in the next few days. I will be placing 1 BTC per bond into Pirate so if he does default it is a massive loss for me. I would not only lose the 1 BTC pirate has but I would also lose the .5 BTC premium and the .5BTC of my own funds to cover. I'm clearly betting pirate will not default.

I will convert TyGrr.Bond-P to this if people have a decent amount. 3 or 4 shares, just sell and rebuy.

Pirate has said he thinks this will last 6 more months and as a Trust account I will not be at risk to have funds pushed out.

I am doing this because I do not like the other insurance options. YARR is backed by bonds and stocks and that is pretty safe but not like solid safe. We do not fully know how much the GLBSE assets will be worth if there is a pirate fail. Other people might know but how many of the bonds and loans and what not are indirectly pirate backed? Seeing the coins in the block chain is really safe IMO.

Now what DeadT is trying to market is just fail and I have talked to him about this. I do not know if he is still going to do it or not. Let us think about what is going on. He will take 100% of the coin you send him and then he will place it in escrow. That means he has 0 BTC left to send to Pirate. Also he needs to make 2.5% somehow so that escrow coins will be invested. How? Well what is the only way right now to make more than 2.5% ?  Send the coins to pirate...


That is the problem here.. When you loan out the insurance money to people who then send it to pirate you get massive defaults.

The point of insurance is that you are sure it is there to pay out when you need it.

With this you will be sure 75% is there. You will just have to trust me to get the other 25%  With the other bonds you will have questions. With DeadT he is only insuring 5% of it himself the rest is being sent to people who loan Pirate money.

It is just sillyness and honestly is why I am doing this. I'm trying to help out the BTC securities market and make it safer and more sound.

Thanks.

I am pretty sure that, it was not like that our conversation went Goat I remember that you were very interested in buying a couple of thousand, but ofc that was before vegas ^^
I am going through with it , I have crunched the number and gone over it several time it works.
Why would I need to make 2.5% with the escrowed money?
Someone buys 1 bonds. That one btc is sent to pirate, another BTC is sent to ImsaGuy. The Pirate payment pays 7% and ImsaGuy pays around 1-2%. Then we pay out 2,5%. What in this calculation is impossible?
Yes I am only personally insuring 5%, the rest is insured by a well known and trustable lender called IneedAuserName . But he will not have access to the coins used as backing they will be with Imsaguy as mentioned above.

So please stop the slandering Goat it's unnecessary...
//DeaDTerra

Slander?? What is Imsaguy going to do with the borrowed funds to pay off the 2%? We all know he is well known for borrowing coins and sending them to Pirate.

My guess is, and yes its is a guess not a fact, that your insurance money will end up with Pirate.

I'm doing this because people now have an option to know where the insurance money is.

I was going to buy your bonds when I thought the insurance money was going to be stored offline or in the hands of someone I trusted.

I'm not trying to attack you and do with you the best of luck. It might end well for you anyway as I don't think Pirate will default.

Peace

Yes if you would have posted this on my asset page, or sent me a pm or such then I would have been fine with it. But posting it in your own asset to shit talk my asset so people buy yours, now that's not really nice now is it ?
Imsaguy makes a majority of his interest rate from mining, and has a low pirate exposure

Of course they do and I have been clear where they go from the start.

We will see, I have no intention of letting our insured funds reach pirate, I will keep track of them and make sure that all parties, is aware of what's expected and required of them!

Best of luck to you as well, May your investments prosper and Pirate never default xD

//DeaDTerra

I will be happy to post this on your asset page. I did not do it because I felt that would be rude. I will do so when I get back.

"Imsaguy makes a majority of his interest rate from mining, and has a low pirate exposure"  I hope that is a joke :/

But anyway selling the BTC in a rising market is fail. He will ahve to sell the BTC to get computers. If BTC doubles again half your insurance money is gone.

Mining is the only other option to try and get 2.5% a week but thats not going to happen most weeks. It is just crazyness.

Good luck.

INAU is not running, he has not left and he does not plan to default.
I talked to him yesterday and he was still determined to payback, with a slow and steady payback plan.
Unfortunately the whole depositor scandal is slowing us down as it's a slow process of paybacks, but rest assure that INAU has no intention of defaulting.
//DeaDTerra

No.
INAU has defaulted
hashking has defaulted
imsaguy has defaulted

This is the second instance in this thread I have corrected you on the definition of default.

DT, you should encourage imsaguy to sell some of the 10,000 ASICMINER shares he claims to have.

[ciuciu]

I think is time for us to report this asset to Nefario for not fulfilling his contractual obligations. DeaDTerra should have all his assets on GLBSE frozen until this matter is closed.
You can send your message at support@glbse.com.

[pyramining]

These are very bad times. Even insured securities are a risk.. :-(

[DeaDTerra]

So what is the plan? Any timeframe for the payback yet?

The plan right now is to keep the conversation with the depositors and settle anyone that would like to trade their GIPPT shares for debt. We are offering +10% if you take IMSAGuy or HK debt
There's no timeframe atm as it depends on the depositors.
//DeaDTerra

Thank you, but no thank you. I believe that you (DT) will have a greater chance of success recovering this debt on my behalf, than I would myself. I trust that you will work hard on doing this regardless of how many take you up on this offer.
This situation really makes "100% insurance" a laughing-stock and I am beginning to feel fed up. I must admit I'm beginning to feel hesitant to ever invest with you again, though I realize it is not directly your fault.
Or maybe more correctly:
If everything is repaid time will pass and all will be forgiven and forgotten.
Otherwise it will never be forgiven nor forgotten.

He was warned about the risks and I did try to talk him out of this. I do feel bad for DeadT as he did just trust the wrong guys but then again it was hs job to see if he should trust them or not...

Still think this was "slander" or a correct valuation on the situation?    I know that my posting this hurt our business relationship and that is why I tried to talk you out of this. I'm not happy you think I was personally attacking you and will still post of this in your thread if you wish. I still think lending pirate insurance money to pirate is "fail". And now I hope that you can see why.

Some corrections as I see them,

YARR only pays 6% (not 7%) a week and I would pay 5.5%

I do not know that Pirate will default in the next few days. I will be placing 1 BTC per bond into Pirate so if he does default it is a massive loss for me. I would not only lose the 1 BTC pirate has but I would also lose the .5 BTC premium and the .5BTC of my own funds to cover. I'm clearly betting pirate will not default.

I will convert TyGrr.Bond-P to this if people have a decent amount. 3 or 4 shares, just sell and rebuy.

Pirate has said he thinks this will last 6 more months and as a Trust account I will not be at risk to have funds pushed out.

I am doing this because I do not like the other insurance options. YARR is backed by bonds and stocks and that is pretty safe but not like solid safe. We do not fully know how much the GLBSE assets will be worth if there is a pirate fail. Other people might know but how many of the bonds and loans and what not are indirectly pirate backed? Seeing the coins in the block chain is really safe IMO.

Now what DeadT is trying to market is just fail and I have talked to him about this. I do not know if he is still going to do it or not. Let us think about what is going on. He will take 100% of the coin you send him and then he will place it in escrow. That means he has 0 BTC left to send to Pirate. Also he needs to make 2.5% somehow so that escrow coins will be invested. How? Well what is the only way right now to make more than 2.5% ?  Send the coins to pirate...


That is the problem here.. When you loan out the insurance money to people who then send it to pirate you get massive defaults.

The point of insurance is that you are sure it is there to pay out when you need it.

With this you will be sure 75% is there. You will just have to trust me to get the other 25%  With the other bonds you will have questions. With DeadT he is only insuring 5% of it himself the rest is being sent to people who loan Pirate money.

It is just sillyness and honestly is why I am doing this. I'm trying to help out the BTC securities market and make it safer and more sound.

Thanks.

I am pretty sure that, it was not like that our conversation went Goat I remember that you were very interested in buying a couple of thousand, but ofc that was before vegas ^^
I am going through with it , I have crunched the number and gone over it several time it works.
Why would I need to make 2.5% with the escrowed money?
Someone buys 1 bonds. That one btc is sent to pirate, another BTC is sent to ImsaGuy. The Pirate payment pays 7% and ImsaGuy pays around 1-2%. Then we pay out 2,5%. What in this calculation is impossible?
Yes I am only personally insuring 5%, the rest is insured by a well known and trustable lender called IneedAuserName . But he will not have access to the coins used as backing they will be with Imsaguy as mentioned above.

So please stop the slandering Goat it's unnecessary...
//DeaDTerra

Slander?? What is Imsaguy going to do with the borrowed funds to pay off the 2%? We all know he is well known for borrowing coins and sending them to Pirate.

My guess is, and yes its is a guess not a fact, that your insurance money will end up with Pirate.

I'm doing this because people now have an option to know where the insurance money is.

I was going to buy your bonds when I thought the insurance money was going to be stored offline or in the hands of someone I trusted.

I'm not trying to attack you and do with you the best of luck. It might end well for you anyway as I don't think Pirate will default.

Peace

Yes if you would have posted this on my asset page, or sent me a pm or such then I would have been fine with it. But posting it in your own asset to shit talk my asset so people buy yours, now that's not really nice now is it ?
Imsaguy makes a majority of his interest rate from mining, and has a low pirate exposure

Of course they do and I have been clear where they go from the start.

We will see, I have no intention of letting our insured funds reach pirate, I will keep track of them and make sure that all parties, is aware of what's expected and required of them!

Best of luck to you as well, May your investments prosper and Pirate never default xD

//DeaDTerra

I will be happy to post this on your asset page. I did not do it because I felt that would be rude. I will do so when I get back.

"Imsaguy makes a majority of his interest rate from mining, and has a low pirate exposure"  I hope that is a joke :/

But anyway selling the BTC in a rising market is fail. He will ahve to sell the BTC to get computers. If BTC doubles again half your insurance money is gone.

Mining is the only other option to try and get 2.5% a week but thats not going to happen most weeks. It is just crazyness.

Good luck.

INAU is not running, he has not left and he does not plan to default.
I talked to him yesterday and he was still determined to payback, with a slow and steady payback plan.
Unfortunately the whole depositor scandal is slowing us down as it's a slow process of paybacks, but rest assure that INAU has no intention of defaulting.
//DeaDTerra

No.
INAU has defaulted
hashking has defaulted
imsaguy has defaulted

This is the second instance in this thread I have corrected you on the definition of default.

DT, you should encourage imsaguy to sell some of the 10,000 ASICMINER shares he claims to have.

They have failed to meet their deadlines for payments yes, but all have a intention to pay back.
I will talk to IMSAGUY about it, and I have had a open line of communication with the two depositors and the insurers, we are working on solving it but it's moving slow.
Another dividend will go out today, as INAU has liquidated some of the assets so he can pay out another portion of his debt.

//DeaDTErra

I think is time for us to report this asset to Nefario for not fulfilling his contractual obligations. DeaDTerra should have all his assets on GLBSE frozen until this matter is closed.
You can send your message at support@glbse.com.

I am sure that James is aware of my situation, if he's not please do inform him.
I have broken no contract, nor have I broken any promise.
There is still plans to pay back, it's just going slow, now that is not my fault.
It's not my debt it's INAUs, my debt has already been paid off. The Depositors are then in second hand the people that broke their contract as they failed to pay within the time frame they setup.

1. The debt is not mine it's INAU, I am simply a middle man that's offering 5% of the insurance. Which I have paid.
2. I have no private assets on GLBSE, all belong to other investors. To cease these assets would be to steal from one investor and give it to another, it would simply not be right. Especially when the debt is not even mine.
3.To freeze my other assets on GLBSE aka my GBF account and my GSDPT, would not help at all. It has nothing to do with this situation and would only hurt the community even more.

Please point out where I have broken the contract and why you should freeze my assets.
//DeaDTerra

[DeaDTerra]

Dividend paid, due to the recent clearing of pirate assets from GLBSE, I am not sure if it actually reached the share holder or how much it became per share.
Can someone please check for me
//DeaDTerra

[Mushoz]

2.2080185    GIPPT    2012-09-25 04:18:41

I have 19 GIPPT shares, so that's 0.1162115 per share if I'm not mistaken.

[DeaDTerra]

2.2080185    GIPPT    2012-09-25 04:18:41

I have 19 GIPPT shares, so that's 0.1162115 per share if I'm not mistaken.

Great :-)
seems like the dividend worked even though the asset was delisted.
//DeaDTerra