BTCST account for sale! - page 2. | Bitcointalksearch.org

sarpar

member

Activity: 100

Merit: 10

Quote from: dree12 on August 25, 2012, 01:06:17 PM

Quote from: hashking on August 25, 2012, 01:04:09 PM

Those funds aren't his to begin with. The bondholders should decide if they want to sell at a discount and take the lesser amount of bitcoins. If not they can wait and see if the full amount will be paid out. This is their decision not his. Just like they are not his coins.

Your bank does this all the time with funds that are not theirs. There is no reason Goat should not be allowed to do so also.

banks have safeguard funds and collateral is regulated

but a simple YES/NO is not too much to ask

hashking

sr. member

Activity: 308

Merit: 250

If he does do this then he is a F___ing IDIOT. He just stole his bondholders money. I guess we will wait and see what he does.

dree12

legendary

Activity: 1246

Merit: 1077

Quote from: hashking on August 25, 2012, 01:04:09 PM

Those funds aren't his to begin with. The bondholders should decide if they want to sell at a discount and take the lesser amount of bitcoins. If not they can wait and see if the full amount will be paid out. This is their decision not his. Just like they are not his coins.

Your bank does this all the time with funds that are not theirs. There is no reason Goat should not be allowed to do so also.

unclescrooge

hero member

Activity: 868

Merit: 1000

Quote from: hashking on August 25, 2012, 01:04:09 PM

Those funds aren't his to begin with. The bondholders should decide if they want to sell at a discount and take the lesser amount of bitcoins. If not they can wait and see if the full amount will be paid out. This is their decision not his. Just like they are not his coins.

+1

hashking

sr. member

Activity: 308

Merit: 250

Those funds aren't his to begin with. The bondholders should decide if they want to sell at a discount and take the lesser amount of bitcoins. If not they can wait and see if the full amount will be paid out. This is their decision not his. Just like they are not his coins.

dree12

legendary

Activity: 1246

Merit: 1077

Quote from: hashking on August 25, 2012, 12:57:06 PM

Quote from: DeathAndTaxes on August 25, 2012, 12:50:23 PM

Quote from: ?? on ??

Goat, I really hope this is not the bondholders account... If pirate pays back and you don't stand to your word of buying back, you won't get away with just a scammer tag

Why do you assume how won't repay?

He is the operating of the fund. He could sell the debt for say 10K BTC. If Pirate repays he owes 40K and takes a 30K loss. If Pirates doesn't repay then he profits 10K. As long as he intends to repay the bond holders there is no fraud. Companies sell DEFAULTED debt all the time. Default doesn't mean 0 bitcents on the coin. It simply means the debtor has not met their obligations.

You are wrong here. If he sells the account for 10k BTC, then those funds belong to the bondholders. He can't just pocket 10K BTC. The debt it owed to the bondholders not GOAT.

No, those funds do not belong to the bondholders. Goat is taking upon a risk here: if Pirate pays back, Goat will be 30000 BTC in the hole. If Pirate defaults, Goat should be eligible to pocket the 10000 BTC. Effectively, Goat is betting against Pirate here.

hashking

sr. member

Activity: 308

Merit: 250

Quote from: DeathAndTaxes on August 25, 2012, 12:50:23 PM

Quote from: ?? on ??

Goat, I really hope this is not the bondholders account... If pirate pays back and you don't stand to your word of buying back, you won't get away with just a scammer tag

Why do you assume how won't repay?

He is the operating of the fund. He could sell the debt for say 10K BTC. If Pirate repays he owes 40K and takes a 30K loss. If Pirates doesn't repay then he profits 10K. As long as he intends to repay the bond holders there is no fraud. Companies sell DEFAULTED debt all the time. Default doesn't mean 0 bitcents on the coin. It simply means the debtor has not met their obligations.

You are wrong here. If he sells the account for 10k BTC, then those funds belong to the bondholders. He can't just pocket 10K BTC. The debt is owed to the bondholders not GOAT.

unclescrooge

hero member

Activity: 868

Merit: 1000

Quote from: DeathAndTaxes on August 25, 2012, 12:50:23 PM

Quote from: ?? on ??

Goat, I really hope this is not the bondholders account... If pirate pays back and you don't stand to your word of buying back, you won't get away with just a scammer tag

Why do you assume how won't repay?

He is the operating of the fund. He could sell the debt for say 10K BTC. If Pirate repays he owes 40K and takes a 30K loss. If Pirates doesn't repay then he profits 10K. As long as he intends to repay the bond holders there is no fraud. Companies sell DEFAULTED debt all the time. Default doesn't mean 0 bitcents on the coin. It simply means the debtor has not met their obligations.

I know I know. Let's just wait for Goat answer.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: ?? on ??

Goat, I really hope this is not the bondholders account... If pirate pays back and you don't stand to your word of buying back, you won't get away with just a scammer tag

Why do you assume how won't repay?

He is the operating of the fund. He could sell the debt for say 10K BTC. If Pirate repays he owes 40K and takes a 30K loss. If Pirates doesn't repay then he profits 10K. As long as he intends to repay the bond holders there is no fraud. Companies sell DEFAULTED debt all the time. Default doesn't mean 0 bitcents on the coin. It simply means the debtor has not met their obligations.

sarpar

member

Activity: 100

Merit: 10

do answer the question!

BrightAnarchist

donator

Activity: 853

Merit: 1000

Quote from: Hunterbunter on August 25, 2012, 11:57:15 AM

Quote from: server on August 25, 2012, 10:30:38 AM

Look in the mirror

...and learn from your mistakes...

So was he the dude hiding his face by any chance? that's my guessicles.

No, he's the one to the left of Goat, with the black hat on.

hashking

sr. member

Activity: 308

Merit: 250

Also what if you sold the account for 10k bitcoins and pirate paid. Are you willing to pay the 30k bitcoins out of your own personal funds.

Hunterbunter

hero member

Activity: 994

Merit: 1000

Quote from: server on August 25, 2012, 10:30:38 AM

Look in the mirror

...and learn from your mistakes...

So was he the dude hiding his face by any chance? that's my guessicles.

unclescrooge

hero member

Activity: 868

Merit: 1000

Goat please answer the question: does this account include your PPT bonds on GLBSE?

hashking

sr. member

Activity: 308

Merit: 250

GOAT if you sell the debt what are you going to do with the funds? Will these go back to your bondholders?

P4man

hero member

Activity: 518

Merit: 500

Dont be fooled. The pirate clan is just trying to further debase the value of pirate debt by pretending to be panicking; Whether or not they should be panicking , we shall probably see next week when Vandroiys bet reaches its deadline, but Goat isnt selling.

Raoul Duke

legendary

Activity: 1358

Merit: 1002

And you're still not answering...

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: hashking on August 25, 2012, 10:43:13 AM

Even if Pirate defaulted the the rights to collect the debt would still be the bond holders not GOATS. So I hope he is trying to sell his own account and not the GLBSE account.

The way he avoids answering if the 40K BTC are all his or if they include the funds from the bond you can be sure what the answer is...

hashking

sr. member

Activity: 308

Merit: 250

Even if Pirate defaulted the the rights to collect the debt would still be the bond holders not GOATS. So I hope he is trying to sell his own account and not the GLBSE account.

EDIT: If he did sell it after a default all funds would have to be split up to all the bondholders.

Shadow383

sr. member

Activity: 336

Merit: 250

So, what's the deal here if you sell this account and then some miracle happens and pirate actually pays out?

Correct me if I'm wrong, but you'd then be contractually obliged to buy back your PPT bonds, having already sold the funds used to pay for them?

I mean, that's almost certainly not going to happen, but still Cheesy

Topic: BTCST account for sale! - page 2. (Read 4587 times)