Topic: [BitFunder] Graet.Loan - Paying 0.05% interest daily - page 7. (Read 53018 times)

Did you read my messages? When I say the only way for him to pay back anything is to sell all of his assets and buy bitcoins, I mean he doesn't have much bitcoins. If you prefer him not selling his assets, you don't want to be paid.

The longer he takes to convert his assets, that are not bitcoin if you still don't get it, to bitcoins, the less creditors get back DUE TO INCREASING BITCOIN EXCHANGE RATE.

He doesn't have bitcoins, but he has some assets. If he wants to pay, he must sell assets and buy bitcoins, so that he can pay back a part of his debt. My estimate is if he sells everything, he might repay at most 50%.

     I doubt many of us could individually sue him without paying our entire winnings in lawyer fees but we might be able to do something like the group that handled the Bakewell scenario did when he ran off. If people are interested I have made a google doc where we can pool the information and proof on what graet owes parties that would be interested in pursuing a legal option. If we get enough claimed shares we could send it to an Australian lawyer and get consulting on what our options are.

     If you'd like to be included in the google doc and look into legal action, send me a pm with a signed message containing  1.Your bitcointalk username 2. Your email 3. Amount of graet shares owned. Do this using the public bitfunder key connected to your bitfunder account (only 1 user doesn't have this and they only owns 10 shares) and I will add you to my google doc and share it with you. If you don't have the private key for your public bitfunder address I recommend trying your hardest to find it, cause in my opinion it's the only true way to prove ownership and for now the only proof I'll accept for my google doc.

     The last backup of the asset list of bitfunder I could find was here https://btct.co/history-bitfunder/2013-12-03-05%3A30-bitfunder-assetlist.html .
According to that there is ~80 of us that own graet bonds with ~30 of those owners owning >= 1000 bonds each (or 10 bitcoin's worth). I'm sure one of those large owners is Graet himself but still the threat of a class action lawsuit from the rest of those large holders could be a little frightening and might encourage Graet to at least become a little bit more responsive on how he plans to make this right. I and several others have been more than patient and I'm almost done being patient.

Only way to get him to do that would be through the courts. I'd prefer him not have to do that if he has the bitcoins to pay what he owes but would prefer some of my bitcoins back as opposed to none if that's what it comes down to.

So he's chatting away with people while he should be working to get funds to repay the loan. I'm not surprized. The only way to repay anything would be selling everything and buying bitcoins before the exchange rate goes up again. But no matter what, he still thinks his FIAT business will repay the debt.

The only BTC business he has is ozcoin, but it is dying as we speak. It has 0.05% of network again and users are leaving the pool. Only 145 users are left now.

Graet says in his post he needs to rebuilt the pool to 5%, but I have no idea how he's going to do that. It's quite impossible at this point. And I'm not seeing anything being done to the pool to attract new miners.

I just hope he understands that no FIAT business can outperform BTC. It's probably too late to expect full redeems at this point because his all assets are simply not enough to buy enough bitcoins. It was already to late when the exchange rate jumped up last autumn.

According to my estimates he could repay at most 40-50% at this time if he sells everything and manages to buy at $450. Probably not going to happen, as he refuses to accept the reality.

I want to sue him , does anyone be with me?

he has been sitting chatting on IRC for years. He is not busy trying to get your funds.
he also isn't reading this. do not kid yourselves.

you need to take up legal options and sue him. don't waste your time begging.

I don't think Graet had much to do about what happened on Weexchange, Ukyo seems to have been the one that was running the ship on both Bitfunder and Weexchange.

I don't know what is happening here, I have no investments with Graet but I went into his pool channel and he is happy to talk away in there.

I thought I would look into this matter, maybe he was too busy, but he has plenty of time to talk on IRC.

So this stuff is only afew hours ago, he has plenty of time to address you guys. Why is he not posting information here?

Go into #ozcoin on freenode

To Infinity!!!! ... and beyond! Light the torches and get out your pitchforks! We've got ourselves a witch to burn.


But seriously, come on Graet, some info would be appreciated. You can maybe
even use ukyo's template for his loan claim site, if you ask him nicely.

No?

I'm sincerely surprised that any of you , let alone many of you, expect you will somehow get any of your money back out of this.  With over 6000 BTC lost between this loan and his stealing of WeExchange deposits, and he hasn't even told us what happened, and its been months, you guys are really deluding yourself. You might as well get on with things, this guy is a crook, as I've been saying since months ago, you've been scammed.

where is the update?

I need update!

Graeme, can you give us an update?

his word mean nothing.
write off loss. less stress.. sorry

Graeme, time to update us please. What is your plan?

MTGOX was sued， what's going on great.loan?

So it's on public record that Graeme Tee was in Tokyo in early February.

Does anyone know if this was just a holiday or if it had purposes related to the Bitcoin loan?


Graeme  - it's time to communicate.

I will be happy to join lawsuit too and throw in a few bucks. Let me know if one of you is preparing it.

"i dont know how to start a lawsuit against him nor i own that much shares that it makes sense to throw alot of money to a lawyer. if someone else who knows how to handle this starts a lawsuit or legal investigations i would like to join and support with a few bucks if needed just to watch his scammerass burn."

I would start here.

http://www.business-standard.com/article/news-ani/australian-legal-firm-accepts-bitcoin-as-valid-currency-114020300227_1.html

or go to his house in perth Australia with a camera and start protesting.



I am willing to join your team, to find Graet and take back our money!

Graet hasn't still replied why he calls his FIAT business a BTC business. The fact that the business accepts bitcoins doesn't make it bitcoin business.

If you have a hotel that accepts bitcoins, it's still a hotel business. VPN and server business Graet has is an IT business, not a BTC business. So stop repeating that bullshit Graet. Your Crowncloud business is worth X BTC now, it will be worth 20% of X when bitcoin is goes to 3,000 dollars, which will probably happen quite soon. Then you'll go bunkrupt for sure Graet.

Right now Graet should buy bitcoins because the exchange rate is down. Somehow I think Graet still doesn't get it, or he intends to screw his creditors.