Topic: [BTC-TC] Deprived Mining Speculation (DMS) - page 2. (Read 198700 times)
Did anyone get any personal contact info from deprived?
Anyway, really nice to see this post pop up again. I almost forgot my 10+ BTC is still in the hand of Deprived.
We only need to worry about this if Deprived is back and responsive. Otherwise, 150 or 400 does not matter at all.
didn't someone have some of deprived's BTC addresses. Did he move any of the bitcoins?
No there is still 150 BTC there, so Deprived has not run off with the funds. Oh what a difference a year makes as we approach the anniversary of BTCT closing. Bitcoin to Kate Wood is now a 'hobby', John Walkin (AKA Deprived) is still an alcoholic myth, and we still have no access to our funds. At 410 BTC, the fund is now worth just under $200,000 USD.
PS> No dividends for Cipherbond since June.
Since CM is defaulting on Cipherbond (through all kinds of weird semi-legal constructs it seems), I think that the value of DMS should be reduced to 150 BTC, the coin that is still available.
In the hypothetical event that Deprived would return to close the fund properly, that brings up the question of: How? Clearly the Cipherbond loss comes at the expense of SELLING holders, but when would that loss be placed in the books? A closure of the fund would, in my view, involve retroactively paying dividends based on how difficulty has changed over the past year. At some point, the 150 BTC would be gone with many dividends left unpaid.
Anyway, even in the case that the fund is closed properly, SELLING holders will be losing out on most if not all of their coin due to the default of Cipherbond. This wouldn't have been preventable by asking for an earlier redemption of the bonds, since DMS is a very large shareholder of Cipherbond and CM has been insolvent for some time.
Anyone make any progress in tracking down Deprived or uncovering his rl identity?
I think this is no more relevant, as the ciphermine bond is officially worth nothing:
https://bitcointalksearch.org/topic/m.8732682
And DMS holdings consist of 70% (?) ciphermine bonds, though even if Deprived shows up again it wouldn't matter much...
didn't someone have some of deprived's BTC addresses. Did he move any of the bitcoins?
No there is still 150 BTC there, so Deprived has not run off with the funds. Oh what a difference a year makes as we approach the anniversary of BTCT closing. Bitcoin to Kate Wood is now a 'hobby', John Walkin (AKA Deprived) is still an alcoholic myth, and we still have no access to our funds. At 410 BTC, the fund is now worth just under $200,000 USD.
PS> No dividends for Cipherbond since June.
didn't someone have some of deprived's BTC addresses. Did he move any of the bitcoins?
Without trying to sugarcoat this, it's still too early to say it is officially worthless. In my opinion Kate and potentially the other founders and operators of Ciphermine are personally liable to redeem the bond. If I'm right, the only way the bond is not repaid in full is if they all go bankrupt.
I've reported Kate to the FCA in the UK. I believe others intend to do the same. All I can suggest at the moment is to wait and see how things develop.
My recollection is that DMS's share of the bonds was about 250 BTC, and the remaining value of the fund was 150 BTC in cash.
The problem is then that DMS holders would have to prove ownership of DMS. This could prove difficult without the help of Deprived or burnside. Even if the ownership is proven, Kate can - and I think she will - at least stall paying to the owners directly rather than to Deprived/DMS. I've reported Kate to the FCA in the UK. I believe others intend to do the same. All I can suggest at the moment is to wait and see how things develop.
My recollection is that DMS's share of the bonds was about 250 BTC, and the remaining value of the fund was 150 BTC in cash.
Anyone make any progress in tracking down Deprived or uncovering his rl identity?
I think this is no more relevant, as the ciphermine bond is officially worth nothing:
https://bitcointalksearch.org/topic/m.8732682
And DMS holdings consist of 70% (?) ciphermine bonds, though even if Deprived shows up again it wouldn't matter much...
Without trying to sugarcoat this, it's still too early to say it is officially worthless. In my opinion Kate and potentially the other founders and operators of Ciphermine are personally liable to redeem the bond. If I'm right, the only way the bond is not repaid in full is if they all go bankrupt.
I've reported Kate to the FCA in the UK. I believe others intend to do the same. All I can suggest at the moment is to wait and see how things develop.
My recollection is that DMS's share of the bonds was about 250 BTC, and the remaining value of the fund was 150 BTC in cash.
I think this is no more relevant, as the ciphermine bond is officially worth nothing:
https://bitcointalksearch.org/topic/m.8732682
And DMS holdings consist of 70% (?) ciphermine bonds, though even if Deprived shows up again it wouldn't matter much...
Reading Kate's email she seems to think that she is more obliged to honour the bonds than the Ciphertrade shares. Depending on how this all pans out, IF anybody sees money from the Cipher* scam then it's the bond holders and with ot the DMS holders. https://bitcointalksearch.org/topic/m.8732682
And DMS holdings consist of 70% (?) ciphermine bonds, though even if Deprived shows up again it wouldn't matter much...
Anyone make any progress in tracking down Deprived or uncovering his rl identity?
I think this is no more relevant, as the ciphermine bond is officially worth nothing:
https://bitcointalksearch.org/topic/m.8732682
And DMS holdings consist of 70% (?) ciphermine bonds, though even if Deprived shows up again it wouldn't matter much...
Anyone make any progress in tracking down Deprived or uncovering his rl identity?
I was going to cut n paste a paragraph or two, to highlight her now completely compromised position, but actually, there's tons of vacuous nonsense on there when you start reading. Hindsight is a beautiful thing!
How long before she removes this shit?
http://kate.craig-wood.com/business.php
How long before she removes this shit?
http://kate.craig-wood.com/business.php
2. CIPHERMINE is either a fraud, a scam, or just plain not honoring redemption requests:
is there a difference between the three?Technically, yes. Practically, no. Never liked Kate and CIPHER myself, personally. The whole thing just seems even more strange when combined with Deprived's disappearance and his relatively close ties to them.
In hindsight, and now having read everything Kate wrote and everything Deprived wrote, he just seems on a completely different level intellectually to her. She came over as narcissistic and somewhat naive, whereas he seemed to be one of the most able minds there was in the crypto-community.
For sure Deprived's decision to buy into CIPHERMINE.B1 had an influence on my decision to do the same, though I admit my own fault for not having done more to look at her with a skeptical eye. A lesson learned.
Having said that, she also sold herself as having run a number of successful businesses, and having spent so much effort on self-promotion I couldn't believe that she would risk her own reputation by taking the course of action that she has. I saw that as my insurance policy against the bonds not being redeemed. I mean, even if she escapes this without legal penalty, how can things ever be the same again?
"Should something go wrong you have no recourse in law."
Fine. So if your legal path yields no result/s, dont rely on law then.
I would have thought it wouldn't take much organisation, to start educating her seemingly extensive business contacts and circles (or is all that bullshit as well?).
She is not exactly low profile.
Fine. So if your legal path yields no result/s, dont rely on law then.
I would have thought it wouldn't take much organisation, to start educating her seemingly extensive business contacts and circles (or is all that bullshit as well?).
She is not exactly low profile.
As I discussed in my substantive posting on the CIPHERMINE.B1 thread, I believe that clause is meaningless.
But either way this is not going to enhance her reputation.
"Should something go wrong you have no recourse in law."
Fine. So if your legal path yields no result/s, dont rely on law then.
I would have thought it wouldn't take much organisation, to start educating her seemingly extensive business contacts and circles (or is all that bullshit as well?).
She is not exactly low profile.
Fine. So if your legal path yields no result/s, dont rely on law then.
I would have thought it wouldn't take much organisation, to start educating her seemingly extensive business contacts and circles (or is all that bullshit as well?).
She is not exactly low profile.
2. CIPHERMINE is either a fraud, a scam, or just plain not honoring redemption requests:
is there a difference between the three?Technically, yes. Practically, no. Never liked Kate and CIPHER myself, personally. The whole thing just seems even more strange when combined with Deprived's disappearance and his relatively close ties to them.
2. CIPHERMINE is either a fraud, a scam, or just plain not honoring redemption requests:
is there a difference between the three?Jump to: