Topic: [BitFunder] btcQuick - Bitcoin Sales Service - page 4. (Read 94180 times)

complaint this guy to SEC under the criminal of selling fraudulence stock

we have to do this

complaint this guy to SEC under the criminal of selling fraudulence stock

No mercy for cheater..

we shoud just employ lawer or somenoe  to investigete like labcoin~~lots of people lose most of their btcs ,he betrayed our trust,and enrich himself~F#CK!!

What is your plan? To hire a US based lawyer?

The price went up from 100 too 1000 in more than two month. If he sold all 1700 BTC at once for $100 he sent all those money right away to bitstamp. According to Jerrod it takes about a week to get money to the exchange. During one week the price went up maybe 20%, so he must have bought back 80% of 1700BTC.

If you repeat this process during increase many many times you lose eventually almost everything. But that would be the most idiotic thing to do. Anyone with any sense would stop after one losing round. Jerrod is telling us he is that idiotic. It's a strategy to play dumb so we let it be.

What Jerrod tells us is the same thing as if you would rent a car to a guy and he would drive taxi and pay you dividends. The cars would be yours. But the guy would sell your car for 10% of original price and pays you the dividends from these money for a couple of month. When taxi business goes really bad you want to take your car back but the guy tells you he sold it and paid what he got saying it was dividends. So you lost everything, no car, no money, only a bit dividends.

Can Jerrod tell us where we told him to sell all the circulating inventory for really cheap price?

I should have posted this months ago. If Jerrod expects us not to sue him he should provide full transaction histories from all the accounts involved in the business.

Without it, I assume he basically shut the business down because he realized he was sitting on a nice chunk of the 1700 + 375 bitcoins that have quickly appreciated to being worth $1.5mm at the time and no longer wanted the 'securities risk'. We were all fine with direct dividends, so I'm still not sure why he "gave up". (Not like he's bother trying to explain!  )

At the very least, he could have bagged the credit card business and just moved to being a dealer like many do on this forum VERY WELL - or returned the invested assets.  

But, why not just take the bitcoins and run? That's likely what he did - but with exactly how many BTC, I don't know. No less than several hundred btc.

It's obvious he's scamming us by acting as though BTCQuick had no bitcoins at the end. Lies.

Jerrod, so you're saying you converted 1700 bitcoins into CASH?
Jerrod, you're saying that CASH from 1700 bitcoins remaining is $59,010.34?
Jerrod, you're saying you continued to pay dividends out and report bi-weekly profits despite assets decreasing by 1700 bitcoins?
Even if you so, which would take incredible mismanagement, assuming you sold all the bitcoins at a conservative average rate of $100, that leaves $110,989.66 unaccounted for.

Even if you had mismanaged assets and not reported the conversion of BTC-> USD to shareholders (as you never provided an asset list - guys, this was a huge red flag!)

Jerrod Brunce/Ascension, do the right thing or I'm sure your reputation will be permanently damaged. We are not going to simply "let this go". Provide the account and bitcoin wallet histories. Make some REAL attempt at explaining exactly happened.What happened to the 1300 btc?

Your lack of posts or frankly, caring whatsoever is sociopathic at best.

I demand you admit everything that happened, and disclose exactly what went where and how many btc you took home from this bullshit. We are not going away.

REALLY, all we get after all the trust given to you is this post:

What a joke.
I had held out hope you would actually issue that "memo". Never came. I'm sick of waiting.
I wasn't too badly affected but I know some in this thread were. This is just wrong. Please PM me so we can create an action group.

Where are the results of the survey?

I have found in recent weeks, that sometimes its better just to call . I have had a conversation with the Florida SEC criminal dept a couple of times now.

Are you able to share any information about your filing as a template for other shareholders?

Everyone who have losses in this scam operation should put negative trust to criminal Ascension. He took over 1 million of dollars from us.

I didn't suggest you keep all funds in bitcoins. I said you keep a constant amount of bitcoins in addition to FIAT. You are proving my point again. No one who runs arbitrage business is that retarded.


Liar.


Hard work and time and success. Can you believe this? He took our bitcoins in his scam operation and called it success. It was a success to you, not to your investors. We lost almost all bitcoins we gave you.


You took almost 2400BTC from investors. 300BTC to pay back a personal loan. 375BTC for "the hard work". The rest is 1700BTC is inventory that was supposed to be rotated. Of course you had to convert some part to FIAT to keep at exchange to buy bitcoins the moment they were sold. But the price was quite stable for few month and total inventory could be again 1700BTC after some time.

Don't act like this "proposal" is something really new and you could never understand it. It's all very simple. Bitcoins get more expensive. You lose everything eventually without keeping constant amount of bitcoins. Stop saying it couldn't work like this. You can make arbitrage business run with 10 bucks. So stop all these lies.

You took 300+375BTC for "work" of scamming us. You stole then all of 1700BTC of rotating inventory. Just give it back, you don't deserve a cent.

He is a scammer. Why did the problems happened exactly during the last peak? It was his plan from the beginning to steal all bitcoins during the peak and blame it all on slow banking.

In the end he planned to act stupid. Almost every scammer tries to play incompetence card. Then people are angry, but not as angry if it's simple theft.

The way Jerrod tells us his business supposedly worked is a sure way to lose all the capital. He's not that stupid.

Complaints filed with SEC, I suggest everyone does the same.

I really can not believe you were that stupid to think that was a feasible business model

That is criminal negligence jerrod if any of us had thought that was your plan we would never have invested a cent. This was supposed to be an arbitrage business.

a total liar.

Exactly. You just proved my point. You're telling us you're a retard who didn't know bitcoin price can go up like crazy in two days. You're telling you're a retard who didn't know that the only way that business could ever work is to buy bitcoins right away after they're sold.

I don't propose anything. I'm just saying what is the only way the business can work. You don't need 3-5 times more capital. You can have very little capital to make it work. The only difference will be volume and profit.

I know people who do the same business for over a year on localbitcoins. They always buy same amount of bitcoins they sell right after selling. It's the only way this business can be profitable. It's only way to do business without risk of huge losses long term. Long term is longer that few months. Their profit is not that much, but they never risk their capital.

You say that I propose it like it's something new idea. You act surprized about this "proposal". It's not proposal, it's a simple fact that everyone knows. BITCOINS GET MORE EXPENSIVE VERY QUICKLY. Everyone who would be running business like yours knows that. It's common sense. Your intention was never to run this business more that a few month. It's impossible to run business other way longer than a few month.

It was all designed to scam us from the beginning. You knew very well it's impossible to run the business LONG TERM without always keeping same amount of bitcoins.

The plan was to wait for the next peak, stop business during the peak, and blame it on slow banking and surprising price increase. Then act like you didn't know that would happen.

It all worked quite well, didn't it? Just like you planned from the beginning. Take it all when the next peak is coming. You did it well. Some might even buy your I-AM-A-RETARD-SORRY-I-LOST-ALL-YOUR-BITCOINS bullshit. I'm not buying it.

Just give all your bitcoins back, it's the only way you can save your face.

Our initial supply of bitcoins were sold as users bought them from our site. The money then took 2-3 days to reach our bank account from our merchant account, and then another 1-2 days to wire the funds to bitstamp. We wired the USD funds back to bitstamp as often as possible, but the simple fact is that do what you propose would have required 3-5 times as much capital than we had on hand. When you sell bitcoins you hold cash. It is impossible, due to logistics, to instantly convert/maintain all funds in bitcoins. We did not receive a salary for any of the time we invested into btcQuick and we plan on returning everything that we have back.

I already know what this scammer will be saying. He'll say he had no idea that bitcoin price takes huge increases all the time. He'll say he thought bitcoin price is more stable than dollar. He'll say it's all because of slow banking.

He'll say that unfortunately the loss happened during the november peak. Just a bad coincidence. He'll say he thought that selling all IPO bitcoins without buying the same amount the moment they're sold seemed like an excellent business idea.

Can you really believe this guy he is that retarded? He's a scammer.

I recommend Jerrod that you give all your bitcoins back. I don't care if you think you're entitled to bitcoins you stole, and took for your "work". You're not entitled to anything. Give what you took back.