Topic: [BitFunder] Graet.Loan - Paying 0.05% interest daily - page 2. (Read 53113 times)
Is this thing on?
Loan to Graet (Graeme Tee)
https://bitfunder.com/asset/Graet.Loan
References:
http://bitcoin-otc.com/viewratingdetail.php?nick=Graet
https://bitcointalksearch.org/topic/escrow-list-108716
Owns and runs Ozcoin Pooled Mining Pty Ltd and CrownCloud.net
Australian Director WeExchange Australia Pty Ltd
Interest:
- Shares shall pay an interest of 0.05% daily.
Shares value:
- A maximum of 200,000 shares will be issued
- Shares have a face value of 0.01 BTC
- Shares retain a minimum of $0.1 USD value each.
Should any event make Bitcoins become valued at less than $1 USD per Bitcoin or impossible to be transacted, you may request to redeem your shares for $0.1 USD instead.
Redeeming Shares:
- Shares can be redeemed at face value anytime upon request.
- Redeeming shares may take some time to liquidate positions or procure more BTC.
Description:
This loan is to hold and/or use BTC for on-demand needs for my projects, such as OzCoin, CrownCloud, etc.
This loan is not tied to the success or failure of any business.
This loan should not be defaulted on unless personal bankruptcy is officially declared.
Consider it a personal loan.
You can request refund of the loan at face value anytime.
Redeeming bonds may take some time to liquidate positions or procure more BTC if no liquid BTC is available.
https://bitfunder.com/asset/Graet.Loan
References:
http://bitcoin-otc.com/viewratingdetail.php?nick=Graet
https://bitcointalksearch.org/topic/escrow-list-108716
Owns and runs Ozcoin Pooled Mining Pty Ltd and CrownCloud.net
Australian Director WeExchange Australia Pty Ltd
Interest:
- Shares shall pay an interest of 0.05% daily.
Shares value:
- A maximum of 200,000 shares will be issued
- Shares have a face value of 0.01 BTC
- Shares retain a minimum of $0.1 USD value each.
Should any event make Bitcoins become valued at less than $1 USD per Bitcoin or impossible to be transacted, you may request to redeem your shares for $0.1 USD instead.
Redeeming Shares:
- Shares can be redeemed at face value anytime upon request.
- Redeeming shares may take some time to liquidate positions or procure more BTC.
Description:
This loan is to hold and/or use BTC for on-demand needs for my projects, such as OzCoin, CrownCloud, etc.
This loan is not tied to the success or failure of any business.
This loan should not be defaulted on unless personal bankruptcy is officially declared.
Consider it a personal loan.
You can request refund of the loan at face value anytime.
Redeeming bonds may take some time to liquidate positions or procure more BTC if no liquid BTC is available.
18.5%/year, in bitcoins!
graet is everyday at #[email protected]
It seems that I am the only one continue watching this post
you are not alone.
It seems that I am the only one continue watching this post
Quote from: lunarboy on January 08, 2015, 12:35:25 PM
Is anyone taking legal action here? Huh
I'm not taking legal action, but will be willing to pay 5% of the loan to legal expenses (which is 0.75 BTC in my case). I believe this should be more than enough to cover the initial legal expenses, assuming the BTC price doesn't fall dramatically, and half of the lenders take part (the calculation: total loan * percent for legal action * percent of participants = 2000 * 0.05 * 0.5 = 100 BTC ~ 27,000 USD ).
I suggest 15% of that to go to the (reputable) member in charge of administrating the lawsuit. Unfortunately, I don't have the reputation to do that.
If you're willing to be responsible of such a lawsuit, please reply to this comment and mention if you have relevant experience / qualifications.
Also reply to this comment if you're willing to take part in such a lawsuit, and pay 5% of your loan for the expenses.
Thanks!
-------------------
yes , I want to take part in this lawsuit! I willing to pay 5% of the loan which is 9.15BTC
Is anyone taking legal action here? Huh
I'm not taking legal action, but will be willing to pay 5% of the loan to legal expenses (which is 0.75 BTC in my case). I believe this should be more than enough to cover the initial legal expenses, assuming the BTC price doesn't fall dramatically, and half of the lenders take part (the calculation: total loan * percent for legal action * percent of participants = 2000 * 0.05 * 0.5 = 100 BTC ~ 27,000 USD ).
I suggest 15% of that to go to the (reputable) member in charge of administrating the lawsuit. Unfortunately, I don't have the reputation to do that.
If you're willing to be responsible of such a lawsuit, please reply to this comment and mention if you have relevant experience / qualifications.
Also reply to this comment if you're willing to take part in such a lawsuit, and pay 5% of your loan for the expenses.
Thanks!
-------------------
yes , I want to take part in this lawsuit! I willing to pay 5% of the loan which is 9.15BTC
We do not forget. We do not forgive.
Let's join forces and everyone affected by Graet/Ukyo loans/Weexchange/Bitfunder fiascos come together and sue these criminals.
More than enough people affected to put a few bucks to get a lawsuit going against Weexchange/Bitfunder criminal actions and fraudulent assets.
There is a very, very high probability of getting both Graet and Jon Montroll aka Ukyo in jail and getting back the largest possible amounts from these fraudsters.
As owners/operators of Weexchange and Bitfunder plus sellers of fraudulent assets/loans Jon Montroll and Graet are full of shit and will be easily convicted and damned up to their shity asses.
More than enough people affected to put a few bucks to get a lawsuit going against Weexchange/Bitfunder criminal actions and fraudulent assets.
There is a very, very high probability of getting both Graet and Jon Montroll aka Ukyo in jail and getting back the largest possible amounts from these fraudsters.
As owners/operators of Weexchange and Bitfunder plus sellers of fraudulent assets/loans Jon Montroll and Graet are full of shit and will be easily convicted and damned up to their shity asses.
Is anyone taking legal action here? 
I'm not taking legal action, but will be willing to pay 5% of the loan to legal expenses (which is 0.75 BTC in my case). I believe this should be more than enough to cover the initial legal expenses, assuming the BTC price doesn't fall dramatically, and half of the lenders take part (the calculation: total loan * percent for legal action * percent of participants = 2000 * 0.05 * 0.5 = 100 BTC ~ 27,000 USD ).
I suggest 15% of that to go to the (reputable) member in charge of administrating the lawsuit. Unfortunately, I don't have the reputation to do that.
If you're willing to be responsible of such a lawsuit, please reply to this comment and mention if you have relevant experience / qualifications.
Also reply to this comment if you're willing to take part in such a lawsuit, and pay 5% of your loan for the expenses.
Thanks!
Hi folks,
Apologies for not responding earlier, been very busy plus trying to work out the best way to manage graet.loan with the changes at BitFunder. My initial hope had was to find a larger investor that could buy graet.loan from US based lenders and continue on BitFunder, BitFunder announcing it will close made that harder.
Timing in BitcoinWorld seems to be an important thing, the forums were down for days, came back, I went on a family vacation and a few hours after I left changes at BitFunder were announced, by the time I got home my portfolio had lost > 60% BTC value and I had a large number of redeem requests. In the past I have been able to fulfill redeem requests quickly but I do not have the liquidity to pay out many requests at once. The loan was mainly used to consolidate multiple smaller loans and to be able to use a central management system to pay interest, also in the past when possible I have bought back graet.loan on the market, not all 200,000 issued are still in circulation.
I still consider graet.loan to be a loan and intend to continue to pay interest and to buy back as I am able.
Best wishes
Graet
Apologies for not responding earlier, been very busy plus trying to work out the best way to manage graet.loan with the changes at BitFunder. My initial hope had was to find a larger investor that could buy graet.loan from US based lenders and continue on BitFunder, BitFunder announcing it will close made that harder.
Timing in BitcoinWorld seems to be an important thing, the forums were down for days, came back, I went on a family vacation and a few hours after I left changes at BitFunder were announced, by the time I got home my portfolio had lost > 60% BTC value and I had a large number of redeem requests. In the past I have been able to fulfill redeem requests quickly but I do not have the liquidity to pay out many requests at once. The loan was mainly used to consolidate multiple smaller loans and to be able to use a central management system to pay interest, also in the past when possible I have bought back graet.loan on the market, not all 200,000 issued are still in circulation.
I still consider graet.loan to be a loan and intend to continue to pay interest and to buy back as I am able.
Best wishes
Graet
Here is an old message. Graeme admits he gambled with creditors coins by buying some unregulated securities.
Is anyone taking legal action here?
ozcoin is no longer hashing.
graet apparently gave up his account here, that tells enough.
graet apparently gave up his account here, that tells enough.
Nope, money still stolen, like it has been for awhile and will continue to be. Well besides the possibility of that 1% chance of getting the 1% payment.
Isn't his real life information public? Or no?
Seems like a lot of money for people to just forget about without trying some recourse.
Nope, money still stolen, like it has been for awhile and will continue to be. Well besides the possibility of that 1% chance of getting the 1% payment.
Still no progress on this? 
With the price plummeting like it is can only benefit lenders... I think that caused a lot of the issues, the price of btc skyrocketed, could be wrong. I, too have been screwed over by something similar...
I think the original problems for Graet goes back to when his mining pool had some bug in its payoutscript 2013 and they payed out 900? btc to much.Then his loan on BF for 2 000 btc was as far as i understand partly used to pay back people that first loaned him the 900 btc that he was short and i think a large part of the remaining around 1100 btc was probably invested in btcstocks, when the two bitcoin stock exchanges btct.co and bitfunder had to close business many of his stocks lost a lot of value as i understand it, a 500-600 btc(50/60%) loss i think it was that graet himself mentioned, what happened to the remaining around 500 btc stock values after the initial big drop i have no ide.
His miningpool havent come back to the levels it was at back in the earlier mining days but it was doing pretty good for the months aug and sept this year when avalon pointed 1/2 there miners at his pools but it looks like avalon has left his pool some weeks ago, no ide why that is the case.
The lower price of bitcoin that we have seen recently should of course be a great time for graet to move some IRL assets into BTC if he wants to clear a large part of his btcloan debt, the mentioned 200 000 dollars would have bought around 667 BTC @ 300 usd/btc and if he had a buyorder at btc-e back earlier this year when it dropped down to even lower level he could possibly have BTC assets of well over 1000 btc, maby even over 1500 btc(if he managed to save the remaining 500 btc stockassets from btct.co/Bitfunder) by now, but i guess its a matter on how he have prioriticed things and what actions he has taken to fix his BTC debt problem.
does your meaning is graet is still have ability to repay the debt?
The 200 000$ fiat assets that was mentioned that he had a year ago has on a number of occations when the price has dropped on specific exchanges or in general to the 350/300/250 or even 200 usd/btc level in the last years time, it has been possible to buy between 570 and 1000 btc with.
If he managed to save some of the 500 btc stocks values he had after the stockexchange crashed 2013 or even increase it since then he may have 500-1000 btc more from that.
Recently, in August/September his miningpool had incomes of over 80 btc, as he dident pay out the 1% / <20 btc that he promised to do back then one wounders what else he did with those 80 btc, if he saw the coming drop and moved it to fiat at that 650 usd/BTC level and rebought later at 300/350 usd/btc those 80 btc alone could be doubled to 160 btc by now.
If he actively have been trading on the market or invested his fiat/BTC assets wisely he could of course have profited several hundreds BTC or even in the region of thousend(s) BTC since a year ago to.
So all in all it wouldent be unresonable to think that Graet very well can have btc assets in the regions of 1000-3000 btc by now if he have actively been trying to gain more btc the last year. If that is the case it would then be the equivalent of 51.5% - 154.6% of the 1940,06 btc his debt was almost a year ago when he stopped paying dividends on the Bitfunder platform the stock then was listed at.
With the price plummeting like it is can only benefit lenders... I think that caused a lot of the issues, the price of btc skyrocketed, could be wrong. I, too have been screwed over by something similar...
I think the original problems for Graet goes back to when his mining pool had some bug in its payoutscript 2013 and they payed out 900? btc to much.Then his loan on BF for 2 000 btc was as far as i understand partly used to pay back people that first loaned him the 900 btc that he was short and i think a large part of the remaining around 1100 btc was probably invested in btcstocks, when the two bitcoin stock exchanges btct.co and bitfunder had to close business many of his stocks lost a lot of value as i understand it, a 500-600 btc(50/60%) loss i think it was that graet himself mentioned, what happened to the remaining around 500 btc stock values after the initial big drop i have no ide.
His miningpool havent come back to the levels it was at back in the earlier mining days but it was doing pretty good for the months aug and sept this year when avalon pointed 1/2 there miners at his pools but it looks like avalon has left his pool some weeks ago, no ide why that is the case.
The lower price of bitcoin that we have seen recently should of course be a great time for graet to move some IRL assets into BTC if he wants to clear a large part of his btcloan debt, the mentioned 200 000 dollars would have bought around 667 BTC @ 300 usd/btc and if he had a buyorder at btc-e back earlier this year when it dropped down to even lower level he could possibly have BTC assets of well over 1000 btc, maby even over 1500 btc(if he managed to save the remaining 500 btc stockassets from btct.co/Bitfunder) by now, but i guess its a matter on how he have prioriticed things and what actions he has taken to fix his BTC debt problem.
does your meaning is graet is still have ability to repay the debt?
Loan to Graet (Graeme Tee)
https://bitfunder.com/asset/Graet.Loan
References:
http://bitcoin-otc.com/viewratingdetail.php?nick=Graet
https://bitcointalksearch.org/topic/escrow-list-108716
Owns and runs Ozcoin Pooled Mining Pty Ltd and CrownCloud.net
Australian Director WeExchange Australia Pty Ltd
Interest:
- Shares shall pay an interest of 0.05% daily.
Shares value:
- A maximum of 200,000 shares will be issued
- Shares have a face value of 0.01 BTC
- Shares retain a minimum of $0.1 USD value each.
Should any event make Bitcoins become valued at less than $1 USD per Bitcoin or impossible to be transacted, you may request to redeem your shares for $0.1 USD instead.
Redeeming Shares:
- Shares can be redeemed at face value anytime upon request.
- Redeeming shares may take some time to liquidate positions or procure more BTC.
Description:
This loan is to hold and/or use BTC for on-demand needs for my projects, such as OzCoin, CrownCloud, etc.
This loan is not tied to the success or failure of any business.
This loan should not be defaulted on unless personal bankruptcy is officially declared.
Consider it a personal loan.
You can request refund of the loan at face value anytime.
Redeeming bonds may take some time to liquidate positions or procure more BTC if no liquid BTC is available.
https://bitfunder.com/asset/Graet.Loan
References:
http://bitcoin-otc.com/viewratingdetail.php?nick=Graet
https://bitcointalksearch.org/topic/escrow-list-108716
Owns and runs Ozcoin Pooled Mining Pty Ltd and CrownCloud.net
Australian Director WeExchange Australia Pty Ltd
Interest:
- Shares shall pay an interest of 0.05% daily.
Shares value:
- A maximum of 200,000 shares will be issued
- Shares have a face value of 0.01 BTC
- Shares retain a minimum of $0.1 USD value each.
Should any event make Bitcoins become valued at less than $1 USD per Bitcoin or impossible to be transacted, you may request to redeem your shares for $0.1 USD instead.
Redeeming Shares:
- Shares can be redeemed at face value anytime upon request.
- Redeeming shares may take some time to liquidate positions or procure more BTC.
Description:
This loan is to hold and/or use BTC for on-demand needs for my projects, such as OzCoin, CrownCloud, etc.
This loan is not tied to the success or failure of any business.
This loan should not be defaulted on unless personal bankruptcy is officially declared.
Consider it a personal loan.
You can request refund of the loan at face value anytime.
Redeeming bonds may take some time to liquidate positions or procure more BTC if no liquid BTC is available.
This was Graet's last post in this thread...
The bold part is ironic as he has not posted in over 10 months to his own loan thread. LOL!
Sad and pathetic at the same time.
Dear graet.loan holders,
Firstly I would like to apologise for my lack of communication - I have found this to be a very trying time.
Despite the ongoing FUD campaign I have not "run off", do not have health issues and have not "cashed out all the BTC", I am still working toward the goal of having most of graet.loan paid off by mid 2014 including any owed interest.
graet.loan was started to consolidate loans from community members after Ozcoin was hacked, give an easy management platform and provide some liquidity for my Bitcoin businesses. This was working well until changes at BitFunder were announced 2 hours after I left for a family holiday (my wifes first holiday in 5 years) by the time I got home 5 days later my portfolio had lost over 500BTC value and I had a list of redeem requests.
Current situation:
Ozcoin Bitcoin Pool has gone from over 10% of the network to under 0.05% over the last few months due to various and ongoing attacks that have disrupted operation and scared off miners - we need to build it back to at least 5% of the network.
Invested in a startup before Bitfunder issues, currently finishing legals moving to beta after New Year.
CrownCloud continues to bring a growing profit every month, planning to expand operations after New Year.
violence will not get coins,
litigation forcing me into bankruptcy will result in a minimal return for unsecured investors,
being patient and allowing me to continue and grow my Bitcoin businesses while still aiming to return the bulk of great.loan by mid 2014 will give investors the best return.
Best Wishes
Graet
Firstly I would like to apologise for my lack of communication - I have found this to be a very trying time.
Despite the ongoing FUD campaign I have not "run off", do not have health issues and have not "cashed out all the BTC", I am still working toward the goal of having most of graet.loan paid off by mid 2014 including any owed interest.
graet.loan was started to consolidate loans from community members after Ozcoin was hacked, give an easy management platform and provide some liquidity for my Bitcoin businesses. This was working well until changes at BitFunder were announced 2 hours after I left for a family holiday (my wifes first holiday in 5 years) by the time I got home 5 days later my portfolio had lost over 500BTC value and I had a list of redeem requests.
Current situation:
Ozcoin Bitcoin Pool has gone from over 10% of the network to under 0.05% over the last few months due to various and ongoing attacks that have disrupted operation and scared off miners - we need to build it back to at least 5% of the network.
Invested in a startup before Bitfunder issues, currently finishing legals moving to beta after New Year.
CrownCloud continues to bring a growing profit every month, planning to expand operations after New Year.
violence will not get coins,
litigation forcing me into bankruptcy will result in a minimal return for unsecured investors,
being patient and allowing me to continue and grow my Bitcoin businesses while still aiming to return the bulk of great.loan by mid 2014 will give investors the best return.
Best Wishes
Graet
The bold part is ironic as he has not posted in over 10 months to his own loan thread. LOL!
Sad and pathetic at the same time.
A 1% payment on your loan might possibly come back to you... That's quite a relief.
Jump to: