How much BTC do you have in glbse still?
If glbse doesnt pay it would be a hurt for shareholders too. Because its money that is lost to the company. And that money has to be earned first again. I hope its not so very much.
The same goes for local loans. The interest and the loan itself would have to be earned first. But anyway... the outcome of this all probably cant be changed.
It's not very much. We already sold another batch of Bitcoins to fiat after our first release of financial report to increase our fiat reserve to deal with emergent situations.
But if at last, the money is indeed lost with the GLBSE default, it will be like this:
--When we have to borrow some money to fill the gap
1. We use the company identity to borrow money because it will be more feasible than personal loans.
2. However, the reliability of returning the money lies only on me the individual.
3. I pay them back using my earnings from my shares of Bitfountain and other sources.
--When we don't have to borrow any money
1. I mark myself of owing the company the same amount of Bitcoins
2. The board members decide an interest rate for my debt, then make the corresponding motion, if not passed, iterate.
3. I pay them back using my earnings from my shares of Bitfountain and other sources.
It's my management fault to keep the rest of the funds within GLBSE and trust it like trusting our company's bank account. The shareholders of ASICMINER should not take the consequences.
it is not because a corner store owner didn't install cameras that he should be held responsible for theft. As I see it, this is not a management failure. You used the tools at your disposition and it didn't turn out well. Every shareholder takes responsibility for success or failure, that's usually how it works. I think at least if it comes to that point a motion could be raised to gauge the shareholders feeling about who's accountable for the loses if it really comes to that point. I know its not conventional, but that's my opinion on the matter. But nonetheless, let's only talk about a problem once we know its a problem I guess.
