Topic: [BitFunder] Ukyo.Loan - Paying 0.05% daily. - page 8. (Read 74729 times)

It appears that the password is truncated for 20 characters.

Hello Ukyo it was some time since we heard from you. Do you have any other news about the progress except for the claim portal or will it only be posted inside the claim portal ?
The text on some of the fields to fill in dont come up on all browser versions by the way "Enter your BitFunder public bitcoin address" &  "Enter the signature provided from the signing process" is missing in some versions of firefox for example.

After finally managing to sign the message and register/claim on the protal it's then not possible to login with the details i provided, did someone say the portal had been tested before it was launched ?
The message "Unknown email address or bad password.     Login incorrect." comes up.

I noticed that when you entered the password only 20 dots came up on screen even thou the password i used was longer and when you then should login it came up only 18 dots, does the password gets cut of at less than the number of characters used and different when you sign up and when you try to login, very confusing, i diden't get any confirmation email either so i could not see if the site only accepted a sertain number of characters and if was the first or last 18/20 or something else that it took, Ukyo could you look into it. At the moment i can't log into the portal even thou i managed to register/claim on the page you provided a link to.

Hello everyone.

If you have Ukyo.Loan shares, you can claim them at https://loan.weexchange.co/claim
There is also a discussion board there where updates will be posted.

Thank you for your continued patience,
Ukyo

Quick update for all UKYO's loan holders or We exchange Users.

I am still negotiating the hourly rate with my lawyer. but below are some information for you if you want to join to my lawsuit against Ukyo. I still think that lawsuit against UKYO is still the only hope you can have a chance to know what going on there and received possible pay back from Ukyo .

1: people who joint my lawsuit will need to send some deposit to the lawyer. I will gives you his bank account detail, and also you can contact him to find out what happening there. before you send the money to the lawyer ,I will gives you all his personal detail and contact detail. 

2: all cost related to against Ukyo is calculate based on the percentage of how much UKYO owes you towards total liability that against Ukyo in this lawsuit case.
For example, if Ukyo owes me 100 BTC , and there are 1000 total liability in this lawsuit is against to UKYO. then I will respond for 10% of the total cost. of course, that I also will received 10% from what UKYO pays in the future.

3: all cost are calculate in USD , so for people who willing to join this case, you have to prepare some USD first.

4: if not convenience for you   to send USD directly to the Lawyer, it also possible you can send me BTC, then I will based on current conversion rate and help you to send the USD to the Lawyer. (if you trust me, but I do prefer that you send directly to the lawyer).

5: The final hourly rate still being negotiating , so is only receiving people who willing to join me at this moment by PM or Email to [email protected]( once it been confirm and I will let you know the final rate, and you make your choice that either to join or not.)

6: Last call to joint this lawsuit is 20.04.2014, and also you will need to get you money to the Lawyers account before 30.04.2014. after that date , that Lawyer will star his work, so it is no reason to bothering him to further modify the agreement between us and him.


PS: If there are any unclear information that please do ask me, and however  forgive my poor English.

Kind Regard

Yuan Lu



 

And has he said absolutely anything at all of substance in any of those IRC chats over the last 3-4 months?  What questions has he answered?

Oh right, he can't talk about anything about 'the coins being gone'. For 'reasons'.  

Come to irc, freenode, channel #bitfunder, Ukyo is frequently there and answers questions. I have had several chats with him.

That's great that this is almost finally done, but really it means very little. Just because there is a portal doesn't mean we are going to see any of our coins.

I really want to know what the coins are investing in and when we can expect to hear *any* news.

Frankly, I'd like to hear something from ukyo directly. Does anyone know how I can contact him since he has stopped responding to PMs. I'm not going to harass him, I just want to find out what is going on.

In the meantime, I have a meeting scheduled with my lawyer to talk about next steps. I really rather just talk to ukyo directly, but he is making that incredibly difficult and it might end up that using lawyers are the only way. I'm still willing to be patient. I just need some real information.

Ukyo is finishing making the claim portal. I tested it. At the moment there is a simple looking but working claim function and a simple "message board". You enter email, nickname and password, also put in the signature made from your BitFunder public bitcoin address. Then you can login into the claim portal where you see the number of shares, the date last dividend was paid and past due dividends owed to you.

Thats very positive news then. I would also be interested to get that information on the timeframes Ukyo mentioned to you if it's possible, i do have a substancial position in the Ukyo-loan/Graet-loan/Weexchange-balance myself even if it's not quite as big as mgio's.

Oh sorry to hear that you diden't get any shares redeemed, i thought Ukyo had started to redeem yours back then, i must have missunderstood what Ukyo said then.

He could, but at least what I got from the conversion the trolls are affecting him. I mean it's hard to ignore some people throwing out personal data and threatening his family (IIRC that happened in some of those threads) on every post he writes. So his strategy became only to come out with substantial information. The first information should be soon enough to sit around a bit more.

Sorry that I wasn't clear enough about that. Ukyo told me in IRC that he will launch the claim portal which will include a discussion platform. This sounds to me a better communication platform than here.

I agree on that and I'm also not happy with this. But I believe that Ukyo came unwillingly into a situation where it's simply impossible to generate dividends. But Ukyo told me an approximate time frame when he's expecting to pay back the interests and continue to pay back dividends daily. He even gave an estimation when the loan should be payed back completely. I won't post that here, but would in the claim discussion platform or better let Ukyo himself give a statement. If you want I can PM you those frame. Given the huge amount of BTC and the WeEx issue it sounds reasonable for me to sit around for that given time.

Yes, I agree. I did not expect ukyo to be able to pay back the whole loan so quickly especially since the price of BTC is several times what it was when the loan was taken out.

And the agreement does not say how long we would have to be expected to wait for the redemption to happen.

But he stopped paying dividends, too, which is already in violation of the agreement. If we had been receiving dividends all along, I would be far less concerned about the status of the original investment. Right now, without any dividends we would naturally want our money back as soon as possible to eliminate further risk. If that is not possible, I think we deserve to know what the money is tied up in (what kind of business, etc) so we know ukyo isn't just sitting around using the money to go on vacations and pay his rent.

He can still post announcements and ignore the trolls. Really, who cares about the trolls anyways? There isn't an exchange (bitfunder) for them to affect anymore, so what they say is meaningless. I'm not saying ukyo should be spending his time reading every rant on these forums, but to at least be giving us SOME information. It's good to here he is still on IRC, but I don't have time to sit on IRC all day and wait for him to pop up. There should be a way for his ukyo.loan holders to contact him, at least. There really isn't all that many of us.


I've talked to him on IRC before, and exchanged some messages with him here, too. I do believe he is trying to do the right thing. We need more information from him though. The rumor was that Weexchange was going to take over for MtGox's US business. With the failure of MtGox, it would be nice to at least hear him say that that didn't not affect the businesses that ukyo.loan was invested in, if that is, in fact true.

Really, even to hear him say "I'm still working on it and I expect to be able to redeem all shares of ukyo.loan someday" as he'd said over and over before would be better than the nothing we've been getting for the past couple of months.


I have no idea what you are talking about here. What is the "closed discussion platform of the claim portal".

No, I got NONE of my shares redeemed. According to ukyo, I was at the top of the queue as I was probably the first to request redemption that had not gotten redeemed, at least. I requested redemption the same day that bitfunder first announced that it would no longer due business with US customers anymore.

I was able to sell about 254 of the 25,000 shares I owned at below issue price but of course I was never able to withdraw that money because of the weexchange issues. So, I still own 24,746 shares, none of which have been redeemed. The only I ever got was 6% of my stuck bitfunder balance, just like everyone else.

mgio got some of his shares redeemed after the problems started and the massive redemptions were sent to Ukyo and ukyo said that there was also some people with small positions before mgio that got there shares redeemed to.

But other than that your right, there has been very little visible progress or information on whats going on.

Yes, I mixed up these threads, sorry about that. But when I think about it, it's not possible to stricly separate these topics. The thing is we still don't know what happened to the money on Weex/Bitfunder, how things are going on and how that affects the loan. But I'll try not to mix up the topics too much.

Without the whole Weex/Bitfunder story I would agree on that.

I'm aware that liquidating positions can take some time, but I'm also aware we're in bitcoinland - here you can't translate timeframes 1:1. Waiting 2 weeks, 6 months or even longer wouldn't be the problem if we know he needs that amount of time and what's going on, but for already a while all we know is there is a big black btc hole. All we hear is "things are moving forward, but I can't tell you anything" for some time now. It would be nice to see or know there is some progress, but we get nothing, just the same phrase all time. Not even one share got redeemed since the Weex/Bitfunder problems started? All I want is to be able to track any kind of progress on this topic. Honestly, at the moment I just feel scammed and want something that changes my view.

Please be aware that this is the loan thread. Don't mix the WeEx issue into this topic. AFAIR the contract clearly states it's a personal loan. Ukyo doesn't need to explain what he does with the loan.

Regarding the time frame. Imagine you get a loan of 2000 BTC from your bank. What time frame do you expect for paying that back? The loan contract we all agreed on used that wording:
Please apply the facts that Ukyo lost the income of bitfunder, might have some BTC of the loan itself stuck in the WeEx issue plus now every holder seem to claim back their loan shares. 5 month seems more than unrealistic for that.

Yes, that's exactly the point. There's nothing substantial at all. And then some complain if people get mad for not letting 'em know what happened with their money for already more than 5 months?

What would you do if everything what you write erupts in an emotional troll opera?

I just had a nice conversion in IRC. He didn't stop responding on purpose (just too much spam and focus on more important things). I won't feed the trolls with the log plus there's nothing substantial in it at all.

But I will tell you what I will do. On Sunday it's new year here. You are supposed to stay absolutely calm, not leave the house, limit the consume of electricity to a minimum i.e. not reading this thread. I will extend the latter for the further weeks and continue to follow a reasonable communication in the closed discussion platform of the claim portal.

It's been over 2 months and no word from Ukyo.

He has stopped responding to my messages. I'm sure he is very busy, but he must realize we are not content to sit around indefinitely with zero information as to what is going on.

Ukyo definitely has assets. The only way he can get out of this loan is if he declares personal bankruptcy, as he stated in the agreement. I don't why he wouldn't be trying to settle up with his creditors in the meantime. It would certainly better than letting lawyers take everything that is left.

Right now it looks like I can continue to sit around and get nothing, or I can get a lawyer and at least have some chance of getting some portion of my investment back. Every day that that ukyo stays missing, makes the decision easier and easier. He isn't even pretending anymore.