It would be one of the greatest heists in the bitcoin community if shakaru ends up winning this auction below his original debt 
Didn't something similar happen in The Brothers Karamazov (Dostoevsky)?
Topic: 7-day auction: 1784.38 BTC in Shakaru debt - page 4. (Read 6305 times)
Didn't something similar happen in The Brothers Karamazov (Dostoevsky)?
Less risk on Pirate's lending program...
35.6876 BTC (2%)
It would be one of the greatest heists in the bitcoin community if shakaru ends up winning this auction below his original debt
Is he even allowed to bid?
anyone bidding on this auction should have the capacity pay their bid amount within a reasonable timeframe - eg. 48 hours.
why doesn't he just declare bankruptcy I read through that whole thread, and seems like that is what bankruptcy is for, he is suffering physically because of a bad business move.
What's the bad business move he made? How can someone possibly lend 4000 BTC and lose not part of it, but all? =/
**disclosure: I am completely clueless on what happened**
One day, you go out for drinks and take a bit money to pay for it, telling yourself you'll put pay it back tomorrow. Another day, you get evicted, so you take another few thousand BTC out, again telling yourself you'll put it back later. You can't cover it with your own money, so you ask for more loans, and more loans, do more deals, more businesses, etc.
I doubt skakaru ever went into this planning on losing all the money or scamming people in any way.
If it happened at all as you described its pure criminal and not to be taken lightly. Why should people borrowing BTC and throwing it away with "good intentions" be treated any different than businesses who pay above earnings to CEO's and then declaring bankruptcy. We wouldnt go out of our way to state those businesses had the greatest intentions but failed only due to forgetting to put money back.
People pay themself more than they should since they speculate on future performances, its bad business and should be treated as criminal.
I do NOT support shakaru in any way. What I am saying is that he was irresponsible. I myself am running a bitcoin investment fund. My reserve account that I have for covering defaults with my own cash is not to be touched under any circumstances. It would be morally wrong, irrational, and irresponsible for me to go messing around with the funds that I put up to cover any losses the fund incurs. If funds are off limits, don't touch them. I follow that rule, but for some reason shakaru didn't.
35 BTC.
why doesn't he just declare bankruptcy I read through that whole thread, and seems like that is what bankruptcy is for, he is suffering physically because of a bad business move.
What's the bad business move he made? How can someone possibly lend 4000 BTC and lose not part of it, but all? =/
**disclosure: I am completely clueless on what happened**
One day, you go out for drinks and take a bit money to pay for it, telling yourself you'll put pay it back tomorrow. Another day, you get evicted, so you take another few thousand BTC out, again telling yourself you'll put it back later. You can't cover it with your own money, so you ask for more loans, and more loans, do more deals, more businesses, etc.
I doubt skakaru ever went into this planning on losing all the money or scamming people in any way.
If it happened at all as you described its pure criminal and not to be taken lightly. Why should people borrowing BTC and throwing it away with "good intentions" be treated any different than businesses who pay above earnings to CEO's and then declaring bankruptcy. We wouldnt go out of our way to state those businesses had the greatest intentions but failed only due to forgetting to put money back.
People pay themself more than they should since they speculate on future performances, its bad business and should be treated as criminal.
It would be one of the greatest heists in the bitcoin community if shakaru ends up winning this auction below his original debt
Is he even allowed to bid?
It would be one of the greatest heists in the bitcoin community if shakaru ends up winning this auction below his original debt
I doubt skakaru ever went into this planning on losing all the money or scamming people in any way.
Well they do say the road to hell is paved with good intentions.
why doesn't he just declare bankruptcy I read through that whole thread, and seems like that is what bankruptcy is for, he is suffering physically because of a bad business move.
What's the bad business move he made? How can someone possibly lend 4000 BTC and lose not part of it, but all? =/
**disclosure: I am completely clueless on what happened**
One day, you go out for drinks and take a bit money to pay for it, telling yourself you'll put pay it back tomorrow. Another day, you get evicted, so you take another few thousand BTC out, again telling yourself you'll put it back later. You can't cover it with your own money, so you ask for more loans, and more loans, do more deals, more businesses, etc.
I doubt skakaru ever went into this planning on losing all the money or scamming people in any way.
Not knowing all the terms of the pooled repayment system that imsaguy worked out with creditors, what leverage is there in terms of collections?
By this I mean purely legal means, not illegal harassment.
By this I mean purely legal means, not illegal harassment.
As with anything BTC related absolutely nothing guarantees it he can walk away from his obligations any time he wants.
Not knowing all the terms of the pooled repayment system that imsaguy worked out with creditors, what leverage is there in terms of collections?
By this I mean purely legal means, not illegal harassment.
By this I mean purely legal means, not illegal harassment.
30 BTC
why doesn't he just declare bankruptcy I read through that whole thread, and seems like that is what bankruptcy is for, he is suffering physically because of a bad business move.
What's the bad business move he made? How can someone possibly lend 4000 BTC and lose not part of it, but all? =/
**disclosure: I am completely clueless on what happened**
25 BTC.
17.8438 BTC
Let me know if I am outbidded please.
perhaps you can subscribe to the thread, so that you get email notifications.
following :/
6BTC. So do you mean we would recieve 39% of the total BTC?
thank you.
it means whenever some 'shades/minico' (shakaru) debt is repaid, you'll get about 39% of that repayment distributed to you.
the reason this debt is 1784.38 and not 1800 btc, is because i had 15.62 distributed to me after 40.01 btc was repaid by Shakaru to the repayment address (an address under the control of a 3rd party - imsaguy).
so for example, whenever 100 btc of the debt is repaid, you'd get about 39 btc of that coming to you.
Thanks for getting back to me. Awesome, sounds great. Let me know if I am outbidded please.
Jump to: