[BitFunder] Ukyo.Loan - Paying 0.05% daily. - page 17.

mgio

hero member

Activity: 546

Merit: 500

Quote from: Bananery on November 05, 2013, 08:30:00 PM

mgio, how is your redemption progressing?

No word from ukyo since he contacted on Oct 28 asking if I could request a smaller amount to redeem to start. I replied saying that I would be ok redeeming 5,000 of my 25,000 shares for now. That was before the Bitfunder close was announced.

I could transfer my shares to a non-US citizen and sell right now for roughly half their value. It's tempting.

So my options are sell now and lose 125 BTC or hold and wait for ukyo risk losing up to all 250 BTC if he defaults.

My fear is that if ukyo converted the funds raised to fiat he will have a lot of trouble gathering the cash to issue redemptions since BTC has nearly tripled since the loan was issued.

Im interested in hearing about how he invested the money and what plans he has for weexchange.

I wonder if he needs a software engineer. I'm will to work for free in exchange for getting my shares redeemed

.

Bananery

member

Activity: 108

Merit: 10

mgio, how is your redemption progressing?

mgio

hero member

Activity: 546

Merit: 500

Quote from: BitThink on November 05, 2013, 04:14:26 AM

Disclaimer: I don't hold any Ukyo.Loan

If a man has to close a website, which brings him a lot of legal problems, probably we don't need to worry he will disappear with all the money, cause that will make his life much tougher. The only risk is that he may be bankrupt and then everything is gone. So asking for personal detail does not help much, we'd better to know his financial situation.

Personal details are useful because he might be able to disappear, at least for a time, with the money. By the time he is found, he might not have anything left to pay off his creditors.

The total value of all 200,000 ukyo.loan shares is roughly $500k right now. It is possible he does not have that much money, even if he does liquidate all his assets.

I'd like to know his financial situation too, although you should realize that information isn't exactly helpful as there is nothing we can do with it, at least not if you are not a verified bitfunder user.

In the meantime, Ukyo has no reason to lie to us. Since bitfunder is closing, he does not have to worry about its reputation anymore. If was not able to cover all of the bond redemptions, it would make sense for him to admit it as soon as possible and give an estimate as to what percent he can cover. My guess is that he is doing everything he can to liquidate his assets in order to cover the loan and it has not come to that, at least not yet.

SOSLOVE868

sr. member

Activity: 378

Merit: 250

Quote from: BitThink on November 05, 2013, 04:14:26 AM

Disclaimer: I don't hold any Ukyo.Loan

If a man has to close a website, which brings him a lot of legal problems, probably we don't need to worry he will disappear with all the money, cause that will make his life much tougher. The only risk is that he may be bankrupt and then everything is gone. So asking for personal detail does not help much, we'd better to know his financial situation.

there is other issue which we can't withdraw BTC from weexchange... for our loan holders, even we sell our loans with this massive lose, we may still not see our BTC again.. I am really feel panic and want to know what's wrong with the withdraw function in Weexchange.

BitThink

legendary

Activity: 882

Merit: 1000

Disclaimer: I don't hold any Ukyo.Loan

If a man has to close a website, which brings him a lot of legal problems, probably we don't need to worry he will disappear with all the money, cause that will make his life much tougher. The only risk is that he may be bankrupt and then everything is gone. So asking for personal detail does not help much, we'd better to know his financial situation.

sparky999

sr. member

Activity: 473

Merit: 250

Quote from: ffwong on November 05, 2013, 01:30:01 AM

Quote from: Ukyo on November 04, 2013, 05:23:12 PM

Dailies will be paid out normally through Dec 1st, at which point anyone still holding will get them sent manually to their listed public bitcoin accounts.
I intend to try to fully wrap this up as funds become available. I hope to have a better outline on timing soon.

Also, all requests are still going to be honored, in order, as available.

-Ukyo

Hi Ukyo,

Just want to clarify. As bitfunder is ceasing operation, we will get our Ukyo.Loan redeemed once you got money?

jeez just read the last few posts, what is wrong with people asking the same shit that just got asked

ffwong

member

Activity: 102

Merit: 10

Quote from: Ukyo on November 04, 2013, 05:23:12 PM

Dailies will be paid out normally through Dec 1st, at which point anyone still holding will get them sent manually to their listed public bitcoin accounts.
I intend to try to fully wrap this up as funds become available. I hope to have a better outline on timing soon.

Also, all requests are still going to be honored, in order, as available.

-Ukyo

Hi Ukyo,

Just want to clarify. As bitfunder is ceasing operation, we will get our Ukyo.Loan redeemed once you got money?

felente

full member

Activity: 147

Merit: 100

Quote from: SOSLOVE868 on November 04, 2013, 11:32:35 PM

Dear Ukyo :
I was ask you for redeem my loans one month ago ,I want to know what is my redeem request in your queue? and when it will be possible for me to get all my shares redeemed, since you have choose to shut down BITFUNDER, there are no other way to dealing with my loans. please let me know what should I do.

Thanks

maybe here is an answer for you, couple posts earlier...
https://bitcointalksearch.org/topic/m.3483049

edit
Ukyo has a lot of work now (we guess, right?) and he should be not in the best position to answer all questions of all of us repeatedly.
your funds will not evaporate

SOSLOVE868

sr. member

Activity: 378

Merit: 250

Dear Ukyo :
I was ask you for redeem my loans one month ago ,I want to know what is my redeem request in your queue? and when it will be possible for me to get all my shares redeemed, since you have choose to shut down BITFUNDER, there are no other way to dealing with my loans. please let me know what should I do.

Thanks

felente

full member

Activity: 147

Merit: 100

Quote from: CumpsD on November 04, 2013, 06:32:04 PM

Just wondering, can one withdraw from WeExchange when not Verified?

yes, in general

as it seems there are just some technical difficulties sometimes.
Ukyo wrote he's working on this.

CumpsD

sr. member

Activity: 476

Merit: 250

Just wondering, can one withdraw from WeExchange when not Verified?

gnomesick

newbie

Activity: 33

Merit: 0

As a current Ukyo.Loan holder who does not plan to sell as a result of the Bitfunder closing announcement, I want to try to balance out the vitriol that will no doubt be leveled at you as a result of what has happened by saying I appreciate how much work you are doing, and how difficult this whole situation must be for you. Keep up the good work, but for heaven's sake get some help with it all, so you don't burn out from exhaustion.

gs

Ukyo

sr. member

Activity: 448

Merit: 250

Dailies will be paid out normally through Dec 1st, at which point anyone still holding will get them sent manually to their listed public bitcoin accounts.
I intend to try to fully wrap this up as funds become available. I hope to have a better outline on timing soon.

Also, all requests are still going to be honored, in order, as available.

-Ukyo

bittymitty

sr. member

Activity: 294

Merit: 250

Will Ukyo loan still be paid out after Bitfunder is closed?

OneSixtiethOfASecond

newbie

Activity: 23

Merit: 0

For anyone interested in tracking changes in Ukyo.Loan addresses/holdings over time, I did a quick analysis for the past few days. You can see some possible redeems and a bunch of small transfers.

See http://pastebin.aquilenet.fr/?1231af8f2897887f#emBNCb3HoJ5BXyiPolvfR/Q0FhbUdMCqXN3yL54kH6Q=

I got this direct from the JSON data. Will try to update in a few days.

Updated Nov. 5, 2013: http://pastebin.aquilenet.fr/?c9aa6c8175e47c1b#GaMGvZthsFYXyg5ZIFqe6fyB1zJwvyfal+HW0tM8LEY=

Updated Nov. 8, 2013: http://pastebin.aquilenet.fr/?a5361d19b29f5b9f#VrvLKHs6vkIdYw+2ZL62OOqJi/t7D4vvA7PZ3+Fq2Lo=

Updated Nov. 11, 2013: http://pastebin.aquilenet.fr/?ccf919f84ec40e20#IMZT48pQMPDOv6rSbkSNUggZBwtsfxZNQWFXkB9gmPA=

Updated Nov. 14, 2013: http://pastebin.aquilenet.fr/?94d7e7d61ee1ebf0#jWLMY3GW8PrnkYCDaXQeMhAvpdjj44aCzythTy9u2KY=

Updated Nov. 18, 2013: http://pastebin.aquilenet.fr/?a6c2375616f662ba#IRdmBUVFVbqU9gkNGgmy8M6qg3frZCe84X8tmiiKQr8=

Updated Nov. 23, 2013: http://pastebin.aquilenet.fr/?ac820c321b9e651a#+2V6A2LIp9Y0GZuBYxKZciQaqQRxkwP8H5N4bpqImZU=

thy

hero member

Activity: 685

Merit: 500

I did a withdrawal from WeExchange today, WeExchange gave the folliwing message "Could not connect to 2nd stage server." the withdrawed amount was taken from my balance at WeExchange but nothing shows up in blockchain or in my local wallet. Support Ticket NGZ-212549. Please correct this Ukyo.

thecoinjournal

hero member

Activity: 490

Merit: 500

Quote from: mgio on October 28, 2013, 07:50:31 PM

Quote from: Ukyo on October 28, 2013, 03:02:05 PM

Quote from: canuck on October 28, 2013, 01:08:04 PM

Can you at least tell us how you determined the que? I messaged you here on BitcoinTalk on Oct' 8th as this was the procedure in the past and then decided to open a support ticket on Bitfunder yesterday just in case you hadn't given consideration to my private message in determining where I end up in the que.

It's this sort of information that you're leaving people in the dark with. You do have some minor but important information to update us with frankly. I don't agree that there's nothing to update.

- How great a percentage of outstanding redemption requests have you worked through so far?
- Is there a specific method of contacting you that results in a placement in the que?
- For American users, (I am not an American user) with the Nov' 1st deadline fast approaching affect their redemption requests?

So far as I can tell (please someone correct me if I'm wrong) you have not answered these questions or given out this information. It would be nice to know responses to these points of interest.

I have lodged several requests with you over the past few weeks for contact privately. I understand that you're busy but not in even a single instance have you said so much as "sorry, too busy right now" in response to any of these messages. Again, while it's understandable that you're busy and while we can appreciate greatly that you're trying as best as you can to meet your obligations and apparently succeeding, until you actually have met those obligations you are doing nothing to give people any sense of predictability as to what's going on with their funds which you are in possession of.

Please give us a bit more detail. It's the courteous thing to do and we don't even really need a whole lot.

Now working on MGIO's request which came in before yours on the 8th and is rather large.
Redeems are first come first serve.
Best method for queue is to submit via btctalk PM.
Even with the Nov 1, I can not hold preference on those users over others.

70% of the requests came in on Monday. If I do not hear from someone in 48hrs I move on.
Many users respond that they are no longer interested/capable of redeem.

I will continue to work through redeems and satisfy the agreement.

-Ukyo

I agreed to only redeem 20% of my shares for now since it looked like it would hold up the line for everyone else. It still is a very large amount though so it could take ukyo a while. Hopefully, I won't regret this if Ukyo ends up defaulting but I have confidence that he will do everything he can to continue paying dividends and honor the redemption requests.

Thank you both, I don't want to redeem and would trust Ukyo.

mgio

hero member

Activity: 546

Merit: 500

Quote from: Ukyo on October 28, 2013, 03:02:05 PM

Quote from: canuck on October 28, 2013, 01:08:04 PM

Can you at least tell us how you determined the que? I messaged you here on BitcoinTalk on Oct' 8th as this was the procedure in the past and then decided to open a support ticket on Bitfunder yesterday just in case you hadn't given consideration to my private message in determining where I end up in the que.

It's this sort of information that you're leaving people in the dark with. You do have some minor but important information to update us with frankly. I don't agree that there's nothing to update.

- How great a percentage of outstanding redemption requests have you worked through so far?
- Is there a specific method of contacting you that results in a placement in the que?
- For American users, (I am not an American user) with the Nov' 1st deadline fast approaching affect their redemption requests?

So far as I can tell (please someone correct me if I'm wrong) you have not answered these questions or given out this information. It would be nice to know responses to these points of interest.

I have lodged several requests with you over the past few weeks for contact privately. I understand that you're busy but not in even a single instance have you said so much as "sorry, too busy right now" in response to any of these messages. Again, while it's understandable that you're busy and while we can appreciate greatly that you're trying as best as you can to meet your obligations and apparently succeeding, until you actually have met those obligations you are doing nothing to give people any sense of predictability as to what's going on with their funds which you are in possession of.

Please give us a bit more detail. It's the courteous thing to do and we don't even really need a whole lot.

Now working on MGIO's request which came in before yours on the 8th and is rather large.
Redeems are first come first serve.
Best method for queue is to submit via btctalk PM.
Even with the Nov 1, I can not hold preference on those users over others.

70% of the requests came in on Monday. If I do not hear from someone in 48hrs I move on.
Many users respond that they are no longer interested/capable of redeem.

I will continue to work through redeems and satisfy the agreement.

-Ukyo

I agreed to only redeem 20% of my shares for now since it looked like it would hold up the line for everyone else. It still is a very large amount though so it could take ukyo a while. Hopefully, I won't regret this if Ukyo ends up defaulting but I have confidence that he will do everything he can to continue paying dividends and honor the redemption requests.

Ukyo

sr. member

Activity: 448

Merit: 250

Quote from: canuck on October 28, 2013, 05:19:16 PM

Thank you Ukyo. Surely you can understand that without even being told that you had received my request to redeem, I had no way of knowing if I had even made the lineup right? Your lack of any acknowledgment left me without any information to go on at all.

Please keep that in mind for others.

I know and apologize. I am one person trying to handle a number of things on many different fronts.

A lot of things are time sensitive right now and I am trying to meet the current expectations of those needs.

I appreciate your understanding and patience in these matters.

-Ukyo

canuck

member

Activity: 116

Merit: 10

Thank you Ukyo. Surely you can understand that without even being told that you had received my request to redeem, I had no way of knowing if I had even made the lineup right? Your lack of any acknowledgment left me without any information to go on at all.

Please keep that in mind for others.

Topic: [BitFunder] Ukyo.Loan - Paying 0.05% daily. - page 17. (Read 74727 times)