Topic: [AUCTION] Coin #8 | RAVENBIT Physical Bitcoin | {ends May 1 @ 11pm EST} (Read 1051 times)

TF also explicitly claimed on coinlenders that he had significant personal assets to back it in case of failure.

Tradefortress probably should have learned a little bit about how liabilities work. Every country works differently. In the US, we have LP's and LLCs.

Valid entities for Australia:
Inc. (Incorporated): restricted to non-profit associations
Ltd. (Limited): ≈ plc (UK). The suffix Ltd. may also be used by a private company limited by guarantee, such as a charity or university (these may obtain dispensation from the Registrar of Companies to operate without the suffix).
NL (No liability): A type of mining, speculative, or research company with no right to call up the unpaid issue price of shares.
Pty. Ltd. (Proprietary Limited Company): ≈ Ltd. (UK) ATF Trust. In Australia companies can act as a trustee for a trust.
Pty. (Unlimited Proprietary) company with a share capital: A company, similar to its limited company (Ltd., or Pty. Ltd.) counterpart, but where the liability of the members or shareholders is not limited.
(Thanks wikipedia)

I have the gut feeling your business is not registered as anything. As such, you are a sole owner, and are responsible for all liabilities your business held. You "lost" over a million dollars of funds that you are responsible for. If you are legit, you will go public with your information. If not, you are the thief. Go public with your information and declare bankruptcy if you can't afford to pay back what YOU lost.

Just because your only 18 doesn't mean anything. Don't start something your not willing to finish.

Actually in most countries that is untrue.

A corporation can have assets and liabilities independent of its owners.  A sole prop can't.  The business liabilities are personal liabilities because the owner IS personally liable for the business.

Was inputs.io organized as a corporation (or other independent legal entity) and registered with one or more state?  If not then there is no distinction between business losses and personal losses, not one that any court of law would see.

cool

Auction over.

Todamont wins with a bid of 0.08BTC

Certainly not.

Just to recap .. Todamont leading with a bid of 0.08BTC, with a little over 90 mins left to go

Never a shortage of drama on bitcointalk.org.

Hey TradeFortress.

Some balls on you, man, still using this handle.

You say that it's possible for people to have distinct personal and business assets. You did promise your investors that if anything went wrong, you guaranteed their investment with your personal assets.

Also you said that you kept a small amount of coin in your hotwallet. Small amount meaning all of it, plainly.

Nice trust rating.

Your bid is invalid pending the escrow of your bid to a trusted party. While I am not interested in making a judgment on the allegations surrounding your business ventures, I will use my discretion when a bidder's trust rating is suspect. I trust your bid is serious, but in the interest of the integrity of the auction, I hope you understand my position. Please reply or PM with any questions.

The current high bid is Todamont's at 0.08BTC

I'll match the 0.09 bid, just to be a good sport.

TradeFortress your trust rating is -450, hahaha. I'd be surprised if you ever do any business on this site again.

No, you seem to be not aware of the fact that people are able to have distinct personal assets and business assets (or liabilities).


My bid is entirely serious.

TradeFortress's bid isn't being counted, I'm guessing.

So have you found our 4000 BTC which you "lost" or should I say stole??

0.09

0.08

.07BTC

You are bidding on Coin #0008 (#8) of the first batch of Ravenbit physical bitcoins. The reverse is stamped with #0008.

This is a DIY physical bitcoin, which means it does not come loaded with bitcoin and you generate your own wallet address. I supply the coin, holograms, and labels you need to do so. Additionally, each coin comes with a custom velvet pouch, display stand, and direct fit protective capsule. Please take a look at the bitcointalk thread listed above or ravenbit.com for pictures and more details.

PICTURES HERE
Original bitcointalk thread
Ravenbit.com

50% of the total sale will will be donated to the Liberty Humane Society animal shelter located in Jersey City, New Jersey, USA. To date, you have helped raise 0.54BTC -- 1Ea2J4gAqgRSLZzLV2rEzDP8iGBYfHTZVt

Starting bid/Bidding rules
0.07BTC with bid increments of 0.01BTC

Time extension: The auction will be extended 10 minutes after the last placed bid. For example if a bid is placed at 10:55pm, May 1 (5 mins before completion of auction) the auction will be extended to 11:05pm. If another bid is then placed before 11:05pm the auction will be extended another 10 mins from the time of the last placed bid, continuing in this manner indefinitely.

Shipping
Shipping worldwide is a flat rate of 0.015BTC. This will be added on top of the winning bid.

End date and time
Thursday, May 1 at 11pm EST (May 2 at 3am GMT)

Payment methods
Bitcoin only
At the end of the auction, I will contact you via PM to arrange payment.

Past Auctions
Coin #07 - Winning bid: 0.08BTC (ended Thursday, April 24)
Coin #06 - Winning bid: 0.08BTC (ended Thursday, April 3)
Coin #05 - Winning bid: 0.08BTC (ended Sunday, March 9)
Coin #04 - Winning bid: 0.08BTC (ended Sunday, March 9)
Coin #02 - Winning bid: 0.11BTC (ended Tuesday, March 4)
Coin #01 - Winning bid: 0.60BTC (ended Thursday, February 27)
Coin #10 - Winning bid: 0.05BTC (ended Sunday, February 23)