Topic: [CLOSED] [CPA] [BMF] [NYAN] Liquidity Loan Request (Read 4699 times)
Fairly sure they will refund in $USD only...
Well,after all, he did pay back, even though it took 2 times longer that expected, with no payment for this time. But at least he didnt run away.
Hi guys. Update time!
Tril has backed out of purchasing the guitar. It is a sad day.
In response I have sent the following letter to Butterfly Labs:
Dear Butterfly Labs;
Thanks for the previous update re: my order no. ####.
I still have order numbers ####, ####, and ####, the first two for {...} and the third for a {...}.
It's been a long time and while I realize there is a huge demand for these units, I no longer wish to purchase them due to what amounts to an act of god regarding my financial position. So I will make the following request, sil vous plais;
Please let me know if I can cancel those three orders and get a refund in bitcoins (I will provide an address), or please give me an approximate date when my units can be shipped. Thank you very much!
-----
I await a response. In addition I am now mulling the sale of the following equipment now:
- an as-new (refurbished due to a defective fan) 6950 video card (~330mh/s iirc)
- CoolerMaster Elite case & motherboard rig, decked to the max with red led fans ("mars" unit)
- CoolerMaster Elite case & motherboard rig, decked to the max with blue led fans ("mercury" unit)
- Vox VT15 2nd revision amp (had it checked at the factory, is in nearly-new condition)
I hate scrambling like this but it's pretty much my only option unless I get a quick response from butterfly labs.
C'mon guys someone take the guitar
Tril has backed out of purchasing the guitar. It is a sad day.
In response I have sent the following letter to Butterfly Labs:
Dear Butterfly Labs;
Thanks for the previous update re: my order no. ####.
I still have order numbers ####, ####, and ####, the first two for {...} and the third for a {...}.
It's been a long time and while I realize there is a huge demand for these units, I no longer wish to purchase them due to what amounts to an act of god regarding my financial position. So I will make the following request, sil vous plais;
Please let me know if I can cancel those three orders and get a refund in bitcoins (I will provide an address), or please give me an approximate date when my units can be shipped. Thank you very much!
-----
I await a response. In addition I am now mulling the sale of the following equipment now:
- an as-new (refurbished due to a defective fan) 6950 video card (~330mh/s iirc)
- CoolerMaster Elite case & motherboard rig, decked to the max with red led fans ("mars" unit)
- CoolerMaster Elite case & motherboard rig, decked to the max with blue led fans ("mercury" unit)
- Vox VT15 2nd revision amp (had it checked at the factory, is in nearly-new condition)
I hate scrambling like this but it's pretty much my only option unless I get a quick response from butterfly labs.
C'mon guys someone take the guitar
This message regards loan holders (and loan holders solely) of CPA. For other claimants please e-mail [email protected], or wait until the GLBSE has sent me the list of asset holders and your claim will be processed automagically.
First point.
1. Due to the closing of GLBSE, CPA has ceased to exist. All of our assets were on the GLBSE so we have no money and no operations and no income from operations.
2. Before GLBSE closed, BMF ordered a few FPGA and ASIC singles.
3. Both I myself, and CPA, owned 800 and change shares of BMF.
4. Therefore I have valid, personal claim on these singles, as does CPA.
5. Therefore this FPGA will be sold to pay off a loanholder (jborkl).
STATUS: I'm boxing and shipping it today. I will update this post with links to the receipt and tracking number later.
Second point.
1. I promised to be personally responsible for the CPA liquidity loans.
2. I offered to sell my Guitar and Amp ($1000+ each) to pay this debt.
3. Tril has offered to buy both items.
STATUS: I am boxing these items and shipping them, but I need time to go to the music store and have the guitar boxed properly. Within a few days I expect to be able to post the receipt/tracking numbers.
The good news is, after these two transactions (the single and the guitar/amp) CPA will not owe any money to loanholders! Yay! The loanholders' accounts by my hand-record is as follows:[/b]
CONFIRMED LIST OF RECEIVED LOANS:
ShadowAlexey #1: 85 btc (repayment address: 18v49REfRD6sCV5vXgYdzCqmgYyD8fwQ9N)
ShadowAlexey #2: 20 btc (repayment address: 18v49REfRD6sCV5vXgYdzCqmgYyD8fwQ9N)
ciuciu: 75 btc+75btc (repayment address: 127GNp3PmmbkNFNE4TqmnGZxF7uR6Fmwpy)
jborkl: 58 btc (repayment address: 1CoNKPqqHqW6Y3ozwFMLPENDVj1oGa38Fh) (+43btc incoming)
panda1: 40btc (repayment address: 1PVLnQJqFHTwULhHgXRWKfYR3H1NauspwQ)
Anonymous: ...
REPAYMENTS:
ShadowAlexey has been sent 40 of 60 payments of 1.56457 (x5 = 7.82285) (x4 = 6.25828)
ShadowAlexey has been sent 30 of 60 payments of 0.36184 (x5 = 1.8092) (x4=1.44736)
ciuciu has been sent 40 of 60 payments of 1.3805, and 30 of 60 payments of 1.3805 (x4 = 5.522) (x5 = 6.9025).
jborkl has been sent 31 of 60 payments of 1.8591 (x4 = 7.4364) (x5 = 9.2955).
panda1 has been sent 30 of 60 payments of 0.7363 (x4 = 2.9452) (x5 = 3.6815).
Anonymous has been sent 29 of 60 payments of 2.614 (x4 = 10.456) (x5 = 13.07).
REPAID (or requested early repayment)
Chaang Noi (Goat)
??: 200 btc (repayment address: private, repaid early by request)
nebulus: 50 btc (repayment address: 1DEWpfx4MCkHTA233h7Cd4VDFiHXTBiD51, requested early repayment -- granted)
Smickles: balance of loan transferred out of debt owed to CPA by imsaguy.
First point.
1. Due to the closing of GLBSE, CPA has ceased to exist. All of our assets were on the GLBSE so we have no money and no operations and no income from operations.
2. Before GLBSE closed, BMF ordered a few FPGA and ASIC singles.
3. Both I myself, and CPA, owned 800 and change shares of BMF.
4. Therefore I have valid, personal claim on these singles, as does CPA.
5. Therefore this FPGA will be sold to pay off a loanholder (jborkl).
STATUS: I'm boxing and shipping it today. I will update this post with links to the receipt and tracking number later.
Second point.
1. I promised to be personally responsible for the CPA liquidity loans.
2. I offered to sell my Guitar and Amp ($1000+ each) to pay this debt.
3. Tril has offered to buy both items.
STATUS: I am boxing these items and shipping them, but I need time to go to the music store and have the guitar boxed properly. Within a few days I expect to be able to post the receipt/tracking numbers.
The good news is, after these two transactions (the single and the guitar/amp) CPA will not owe any money to loanholders! Yay! The loanholders' accounts by my hand-record is as follows:[/b]
CONFIRMED LIST OF RECEIVED LOANS:
ShadowAlexey #1: 85 btc (repayment address: 18v49REfRD6sCV5vXgYdzCqmgYyD8fwQ9N)
ShadowAlexey #2: 20 btc (repayment address: 18v49REfRD6sCV5vXgYdzCqmgYyD8fwQ9N)
ciuciu: 75 btc+75btc (repayment address: 127GNp3PmmbkNFNE4TqmnGZxF7uR6Fmwpy)
jborkl: 58 btc (repayment address: 1CoNKPqqHqW6Y3ozwFMLPENDVj1oGa38Fh) (+43btc incoming)
panda1: 40btc (repayment address: 1PVLnQJqFHTwULhHgXRWKfYR3H1NauspwQ)
Anonymous: ...
REPAYMENTS:
ShadowAlexey has been sent 40 of 60 payments of 1.56457 (x5 = 7.82285) (x4 = 6.25828)
ShadowAlexey has been sent 30 of 60 payments of 0.36184 (x5 = 1.8092) (x4=1.44736)
ciuciu has been sent 40 of 60 payments of 1.3805, and 30 of 60 payments of 1.3805 (x4 = 5.522) (x5 = 6.9025).
jborkl has been sent 31 of 60 payments of 1.8591 (x4 = 7.4364) (x5 = 9.2955).
panda1 has been sent 30 of 60 payments of 0.7363 (x4 = 2.9452) (x5 = 3.6815).
Anonymous has been sent 29 of 60 payments of 2.614 (x4 = 10.456) (x5 = 13.07).
REPAID (or requested early repayment)
Chaang Noi (Goat)
??: 200 btc (repayment address: private, repaid early by request)nebulus: 50 btc (repayment address: 1DEWpfx4MCkHTA233h7Cd4VDFiHXTBiD51, requested early repayment -- granted)
Smickles: balance of loan transferred out of debt owed to CPA by imsaguy.
Hello, I'd like to make a quick update.
GLBSE appears to have shut down and I do not have access to the BTC. This week's payment will be 50% of normal due to the uncertainty surrounding this. I have been pooling money in my personal wallet this whole time preparing to make payments but half a week's income is not going to be enough to cover this.
The really terrible thing is that I just bought 200 BTC and have personally over 500 BTC on GLBSE but because of the GLBSE shutdown there's nothing I can do, I don't have access to it.
I am going to have to renegotiate the terms of these loans now. I'll be contacting the people who loaned to see what we can arrange. Based on the fact that everyone who didn't flee GLBSE will flee if it comes back, it doesn't look like we will make much money.
Well, BMF has ordered a SC single, two Jalapenos, and multiple FPGA singles. I can still pay people back even if it means I am basically out of the game because of it. Hardware should be arriving in about a week. So my current plan is to make a 50% payment on sunday, and see what happens next week. In happy candy land, GLBSE comes back, everyone pays back divs, we sell some assets, and repay people 100% and on time. In what is more likely to happen, I mine using FPGA/ASIC hardware and use my paycheque to buy some BTC to help cover this.
Thread will remain locked. Please send questions and concerns to me in PM on the forums.
GLBSE appears to have shut down and I do not have access to the BTC. This week's payment will be 50% of normal due to the uncertainty surrounding this. I have been pooling money in my personal wallet this whole time preparing to make payments but half a week's income is not going to be enough to cover this.
The really terrible thing is that I just bought 200 BTC and have personally over 500 BTC on GLBSE but because of the GLBSE shutdown there's nothing I can do, I don't have access to it.
I am going to have to renegotiate the terms of these loans now. I'll be contacting the people who loaned to see what we can arrange. Based on the fact that everyone who didn't flee GLBSE will flee if it comes back, it doesn't look like we will make much money.
Well, BMF has ordered a SC single, two Jalapenos, and multiple FPGA singles. I can still pay people back even if it means I am basically out of the game because of it. Hardware should be arriving in about a week. So my current plan is to make a 50% payment on sunday, and see what happens next week. In happy candy land, GLBSE comes back, everyone pays back divs, we sell some assets, and repay people 100% and on time. In what is more likely to happen, I mine using FPGA/ASIC hardware and use my paycheque to buy some BTC to help cover this.
Thread will remain locked. Please send questions and concerns to me in PM on the forums.
you're welcome
sent a pm- I will lend another 43 based on the original term if you still need it.
Why would you take money that u dont need with interest more than average?
Dont need? She will require all the coins she can get her hands on.
I just had a look at the NAVs of nyan.x using her own method;
NYAN.A I get ~990 BTC, down from 1619 last week -38%
NYAN.B I get ~1500 BTC, down from 1935 last week -22%
NYAN.C is more or less stable.
As explained already, a lot of the assets NYAN holds have almost no market depth at all, and the spot prices can therefore easily be manipulated. Just buy a few shares and presto, price doubles, thereby "restoring" the NAV.
Im pretty sure thats exactly what she will do before releasing her financial results, just like she tried with CPA and her other companies, buying "undervalued" assets to push the price up, or push the snowball uphill. IN the long run all that does is ensure it comes crashing down even harder. To use her own words : We just need "time", not "money", so to speak. Thats exactly right, she is buying herself time by digging a deeper hole.
How much has the NAV of those shares dropped off since OBSI.HRPT droped 60% ? Or is OBSI.HRPT held at a value of 0.1 btc despite what people are actually able to sell it for? The position of those funds is looking more and more precarious.
AH, I see the difference.
TEEK.A [email protected]
Thats the last trade price, and what I used last time. You have it fixed to 1 BTC, which is not entirely unreasonably since it has a 1 BTC buyback clause. It just seems like its not being honored?
edit: also seems your financial report auto updates? I have a few hour old screenshot that shows NYAN.A at 1619 total. Now its 1515 with the same update time. Where are these numbers coming from, are you using 7 day average and pulling them in dynamically? If so, you now have a good idea what to look forward to next week.
TEEK.A [email protected]
Thats the last trade price, and what I used last time. You have it fixed to 1 BTC, which is not entirely unreasonably since it has a 1 BTC buyback clause. It just seems like its not being honored?
edit: also seems your financial report auto updates? I have a few hour old screenshot that shows NYAN.A at 1619 total. Now its 1515 with the same update time. Where are these numbers coming from, are you using 7 day average and pulling them in dynamically? If so, you now have a good idea what to look forward to next week.
This is why you should ignore puppet. He's full of it. NAV of NYAN.A down -38%?
What?
The guy's a looney :p
Of course I dont know if you bought/sold anything since the last update, but thats what I got when I did the math when I posted it.
Here is what I get using up to date spot prices:
Code:
Holding Units Market Value Total (Market*) %
BMF 1200 0.216 259.2
TEEK.A 200 1 200
MU 150 0.11 16.5
MINING 165 0.815 134.475
JTME 50 0.7999 39.995
FPGAMINING 215 0.499 107.285
TYGRR.BOND-A 200 0.1 20
M.ETF 80 0.13 10.4
OBSI.1MHS 400 0.0862 34.48
JAH 317 0.12 38.04
ZETA-MINING 50 0.17 8.5
LTC-MINING 7 0.415 2.905
GIGAMINING 70 0.651 45.57
OBSI.HRPT 2200 0.076 167.2
BITCOINS (COLD) 0 1 0
BITCOINS (HOT) 3.768973 1 3.769
TOTALS 1088.319
In your last financial report it was 1515.4.
-28%
All is good I guess
Mind you, if you actually wanted to sell all of the above junk, you'd be lucky to get close to 500.
Sent 58 -
I will not need the funds back early, so do not worry about that.
I will not need the funds back early, so do not worry about that.
First of all 100 btc if not 500, and it can be bought after price drop, which could ocurre later...
Em, risk of depositing 500btc~6k dollars for one month could bring you to serious funds loss, because of price drop
To quote her "I personally buy about 100 BTC a month. So there will be repayment liquidity from myself personally if need be."
Since she is already taking the exchange rate risk anyway, why pay skyhigh interest rates on top of that?
Em, risk of depositing 500btc~6k dollars for one month could bring you to serious funds loss, because of price drop
Thats her own choice, it has almost no relation to this loan, because it is backed not with assets.
She is requesting this loan because she cant sell her assets, those are her words. Thats a pretty strong relationship if you ask me.
If you meant the risk to the lender, then thats something else, but if she is so solvent I have to wonder why she would borrow at almost 2% per week instead of lending her own money to her companies.
Thats her own choice, it has almost no relation to this loan, because it is backed not with assets.
Why would you take money that u dont need with interest more than average?
Dont need? She will require all the coins she can get her hands on.
I just had a look at the NAVs of nyan.x using her own method;
NYAN.A I get ~990 BTC, down from 1619 last week -38%
NYAN.B I get ~1500 BTC, down from 1935 last week -22%
NYAN.C is more or less stable.
As explained already, a lot of the assets NYAN holds have almost no market depth at all, and the spot prices can therefore easily be manipulated. Just buy a few shares and presto, price doubles, thereby "restoring" the NAV.
Im pretty sure thats exactly what she will do before releasing her financial results, just like she tried with CPA and her other companies, buying "undervalued" assets to push the price up, or push the snowball uphill. IN the long run all that does is ensure it comes crashing down even harder. To use her own words : We just need "time", not "money", so to speak. Thats exactly right, she is buying herself time by digging a deeper hole.
Why would you take money that u dont need with interest more than average? Doesn't sound reasonable...
DMC isnt what you should be worried about. Usagi got his shares from diablo in an off market, under the table deal, for something like 50BTC. Its worthless rubbish but he didnt pay much for it, and its mostly older DMC shareholders that got screwed over by this deal.
What you should worry about is usagi's exposure to various ponzi's, particularly obsi.hrpt. I wrote some more on that here:
https://bitcointalksearch.org/topic/m.1214541
What you should worry about is usagi's exposure to various ponzi's, particularly obsi.hrpt. I wrote some more on that here:
https://bitcointalksearch.org/topic/m.1214541
Rationale is.. we can't sell our assets (in general, no particular asset) fast enough without losing too much money.
Why dont you list the assets your want to sell and let people bid on it? It would solve your liquidity problem and give you a far better idea of what your obsiponzi bonds and other assets really are worth, plus it avoids getting in to a spiral of debt. If no one is willing to bid close to what you think is a fair price, odds are your fair price isnt what the market thinks is fair and its time to reassess.
I saw your other posts where you seem to think multiplying your share count by the lowest ask is the market value of your companies (proudly announcing you doubled your company value by buying 10 shares), even though the total of bids is just a handful of BTC. Its about time you learn that is not how it works. Granted, the sum of GLSBE bids isnt a fair assessment of value either, because you cant bid on several assets with the same coins, but the fact remains that something is only worth what the fool is willing to pay for it, not what you think its worth or what you ask for it. So find out what your stuff is really worth.
Guys I suggest we ignore Puppet, he follows me around and makes stupid comments on my threads.
Anyway back on point, Nebulus has been repaid. I'm a little upset at him, he told me he wanted the money back to play Satoshidice. Guys, please don't step into this if you're just going to ask for your money back after 3 days.. I was able to pay back goat's 200BTC and nebulus's 50BTC but now we're back in square one with no free floating capital. If you're going to agree to depositing with us, please try to stick to the terms in the OP unless it's an emergency, from now on. Thanks.
Anyway back on point, Nebulus has been repaid. I'm a little upset at him, he told me he wanted the money back to play Satoshidice. Guys, please don't step into this if you're just going to ask for your money back after 3 days.. I was able to pay back goat's 200BTC and nebulus's 50BTC but now we're back in square one with no free floating capital. If you're going to agree to depositing with us, please try to stick to the terms in the OP unless it's an emergency, from now on. Thanks.
Nah....let's not ignore Puppet. Let's pay attention to people that make sense. I'm much more questioning of people who try to direct investor's (and lender's) attention away from the truth. I see that behaviour a lot from you, usagi. You're evasive, and manipulative and stubbornly refuse to acknowledge real facts in public while attempting to ridicule the purveyor of the truth.
1. No, the lowest ask isn't the proper valuation of assets. I call bullshit on this too. It's not worth a price if you can't sell it for that price. Period.
2. People are sick of buying garbage, money-losing assets. You can't sell what we won't buy. And there is very little I'll buy on GLBSE at this time.
3. You own, what, 60% of DMC? seriously, what the fuck were you thinking buying that? (or just high on the same shit diablo is smoking?) It's now at 6% of it's IPO price (several cents more than it's worth). You have a liquidity crisis because of bad decisions made, and that the loan repayment depnds on your future decisions being better, I'm not sure how well that is going to work out for you or the lender. The reason you can't sell assets is that you own garbage like DMC (which you persisted in buying despite knowing how badly diablo was squandering capital and violating the shareholder's agreement)
I wonder how solvent usagi/CPA/BMF/NYAN are if we revalue their holdings according to the actual current liquidation value of every asset (and add any income from them, of course)
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