Topic: [BitFunder] Ukyo.Loan - Paying 0.05% daily. - page 15. (Read 74727 times)

Quote from: jimmothy on November 19, 2013, 04:33:59 PM

Quote from: thecoinjournal on November 19, 2013, 01:57:45 AM

Quote from: mgio on November 20, 2013, 06:33:55 PM

Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.

Thanks.

Hi mgio, how is your redeeming going?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million.

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing..

I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced?

The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed.

In that case why can't ukyo just simply say it is the secs fault? Would at least put some of the conspiracys to rest and people will understand the situation.

He is likely being advised by his lawyers not to talk publicly about what is going on until it is all settled. Him speaking publicly could only hurt him.

Holding the equivalent of millions of US dollars with no explanation could certainly hurt him as well if someone decides they are tired of waiting and try to do something about it.

I see literally no reason ukyo is being so secretive unless it involves something that makes him look bad or worse.

it is possible for legal reasons he cant speak out but I don't buy that. Even in that case he could tell us he cant legally say anything but it looks more like he chose to keep everything secret at his own will.

I believe he did say something like that a little while back.

People are getting impatient and I'm sure people are already pursuing legal action.

I agree that the situation is not good, especially since there hasn't been dividends in 5 days now. Not that it would matter as weexchange issues seem to make it impossible to withdraw bitcoin either. Ukyo is in a very bad situation. I'm guessing he has nowhere near the 1.2 million necessary to cover the bonds as is hoping that his new business ventures will be able to earn enough to pay them off. It looks like that might be difficult though as I imagine the shutdown of bitfunder cost him a lot.

jimmothy

hero member

Activity: 770

Merit: 509

Quote from: jimmothy on November 20, 2013, 06:16:44 PM

Quote from: jimmothy on November 19, 2013, 04:33:59 PM

Quote from: thecoinjournal on November 19, 2013, 01:57:45 AM

Quote from: jimmothy on November 20, 2013, 06:16:44 PM

Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.

Thanks.

Hi mgio, how is your redeeming going?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million.

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing..

I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced?

The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed.

In that case why can't ukyo just simply say it is the secs fault? Would at least put some of the conspiracys to rest and people will understand the situation.

He is likely being advised by his lawyers not to talk publicly about what is going on until it is all settled. Him speaking publicly could only hurt him.

Holding the equivalent of millions of US dollars with no explanation could certainly hurt him as well if someone decides they are tired of waiting and try to do something about it.

I see literally no reason ukyo is being so secretive unless it involves something that makes him look bad or worse.

it is possible for legal reasons he cant speak out but I don't buy that. Even in that case he could tell us he cant legally say anything but it looks more like he chose to keep everything secret at his own will.

mgio

hero member

Activity: 546

Merit: 500

Quote from: jimmothy on November 19, 2013, 04:33:59 PM

Quote from: thecoinjournal on November 19, 2013, 01:57:45 AM

Ukyo, when you get a chance, please let us know what is up with Ukyo.loan, namely if there is any progress redeeming shares and if you still believe you will be able to cover the full amount.

Thanks.

Hi mgio, how is your redeeming going?

I'm still waiting. I talked to Ukyo maybe about a week ago. He told me about some big news on the horizon that would be announced soon that should bring him in a bit of income. I'm not going to say exactly what, but it's pretty exciting if it happens and should allow him to pay off the ukyo.loan shareholders.

The downside is that bitcoin is worth roughly 6 times it was when the loan was issued so instead of having to redeem $200,000 worth of shares, it's now $1.2 million.

You can bet that ukyo is also probably dealing with the SEC (why else would bitfunder have to shut down so quickly). I'm worried that his lawyers will eat up whatever money he does have left. They are the only ones who win in situations like this.

In the meantime, there is not much we can do. I still believe that Ukyo is doing his best to redeem these shares. I just am less and less convinced that he will be able to.

Its sad that even with millions of dollars on the line we have no real idea why bitfunder is closing..

I'm sure it has something to do with the SEC. Why else would a lucrative business just closed unless it was forced?

The ironic thing is the SEC is likely the reason why our ukyo.loan shares can't be redeemed but also our biggest hope in actually getting at least some portion of them redeemed.

In that case why can't ukyo just simply say it is the secs fault? Would at least put some of the conspiracys to rest and people will understand the situation.

He is likely being advised by his lawyers not to talk publicly about what is going on until it is all settled. Him speaking publicly could only hurt him.

jimmothy

hero member

Activity: 770

Merit: 509

Quote from: jimmothy on November 19, 2013, 04:33:59 PM

Quote from: thecoinjournal on November 19, 2013, 01:57:45 AM