Topic: CoinLenders Script :: Bitcoin Bank (Borrow+Deposit) Software :: Demo Available - page 18. (Read 111193 times)

For people who are interested in how the 100% fiat settlement is calculated, here's a worked example:

Deposit 10 BTC on Sep 29th, considered $1430 deposited
Withdraw 1 BTC on Oct 2nd, considered $127 withdrawn
Deposit 1 BTC on Oct 16th, considered $154 deposited

Added together: 1430-127+154=$1457

The $1457 figure would be your re-denominated balance if you choose to accept, which is ~100% of the fiat value. Payment would be made in BTC using the latest MtGox ask.

I was also skeptical as to why a professional business would have its forum name as Jack Me Off?

True. This is assuming we aren't falling for another scam. The user whom presented that idea was noob and I'm skeptical of his honesty.

I agree. If they are able to surmount all the regulatory hurdles and get TF onboard I would support this approach.

Personally speaking, the last thing I would want to do with my BTC (CASH) is exchange it for shares. I Kept cash/btc for a reason, i just made the mistake of putting it in CL

I've read the stories here and feel sorry for anyone who has lost money/BTC.

Anyway....Some quick background on us:

We, and not (TF or coinlender) are part of a company with an "Australian Credit Providers Licence" (allows us to provide credit/LOANS) and we would like to make the following commentary to those affected or otherwise by the coinlender saga.

We believe the coinlender business has/had merit, with albeit inept execution/security floors.

For this reason we wish to speak to you that have lost funds using this system, to get your reactions to our request/proposition, before any formal commitment from our end.

As an Australian company we feel that if we can offer our assistance then we will do so.

So here are the initial thought/requests to consider/debate/chat about.

1. We would like to request to negotiate with TF to purchase coinlender/TF database/website and all intellectual property/domains etc and take over management of the current loans.
2. The cost to us will be $0, in fact we want $50,000 or 100 BTC from TF, to buy it and manage it from TF.
3. The $50,000 will be used to a) setup a company owning the intellectual property and b) issue shares in the new company to be split among both our company and that of you that lost money/BTC, along with some funds towards manegemnt of the current/new loans.    
2. TF to work with us for up to say 12 months (at no cost) on an ad hoc basis as needed to benefit the site/business. This will include a shareholding to him at the conclusion of 12 months, if we (collectively) so choose to do so based on his 12 months help.
3. Anyone who has lost funds/BTC will be rewarded by holding shares in the company in some way by using the service again (unsure at this point what that will be, but some form of monetary reward for commitment back to the site. You have to commit, make BTC available to receive shares. (unsure how this will work at this point but just a comment for now)
4. We would keep similar functionality and business concept with some required changes.
5. We are to be provided a complete breakdown by TF as to who has lost what amount so that we can make sure those that have been  affected receive a shareholding.
6. Shareholders to receive dividends prorated each year.  


Could go on forever, but in essence, we will take the inherent risk associated with buying a website/IP with a tarnished name with the acceptance of terms to the above by TF (we are negotiable) but more importantly it must be acceptable to the majority of you.

This by no means stops any action by you against TF for lost BTC, however we are trying to help you move forward in the meantime with this proposal/idea/concept.

PS: We personally do not believe TF is/was a scammer, however that is a moot point at this stage, the important thing is to find a solution to move forward that can benefit all past users/ new users and Bitcoin.

Happy to take questions/ ideas/ comments by any of you or TF.
 

This is what TF offered me.


If you accept, please respond with "I accept $22,122.99 USD as full settlement of my CoinLenders balance, with payment made via BTC to the address [your BTC address] using the latest MtGox ask at the time the payment is sent, or $750 USD, whichever is greater. When the payment is made to my specified Bitcoin address, I release and waive any claims with regard to, and hold CoinLenders harmless from and against any and all claims of any kind that are or could be asserted with my use of the service."


I answered this:

I´m sorry, Tradefortress. I cannot accept this settlement you propose now. Nevertheless I´m willing to propose a different arrangement.

Let me withdraw in the next few days the equivalent of 7000 € from my CL account. I´ll use coinbase and bitcoin.de to get the money and I´ll send you the documentation which probes I will get no more than those 7000€.

After that I will not reclaim the remaining amount of my ~226 BTC before may or june of 2014. That will give you some extra time and money free of interest, but finally at some point I´ll need my full account back.
Please, let me know your oppinion about this.

Appears to be a relatively new high risk loan provider out of Adelaide dba Ezy Capital.  The only name associated with the operation is Matthew Watts.

Definitely registered with the Australian securities and investment commission as a credit/mortgage provider.

Sketchy, but a lot more transparent than TF.

Not apologizing yet, but I am listening.

Please feel free to check us out:

 https://connectonline.asic.gov.au/RegistrySearch/faces/landing/ProfessionalRegisters.jspx?_adf.ctrl-state=10koh0cg2i_4

Put in the licence number 388144

choose "credit licensee" from the dropdown box.

Please let me know if this does not work for any reason.

I am one of the founding directors.

We are also a large Australian credit provider to clients who have had previous bad credit.

Our website can be found here 1800badcredit.com.au to which you will also see our recent awards received in 2011 and 2012.

Thanks.

Did TF reached out to you yet?
I think some of the Coinlender and Inputs members are putting a bounty on him.

No not at all yet.

You must be new here.

Full verifiable dox on you and your "licensed company" right here, right now and I will apologize.  If you and your company pass the background check, I'll consider signing up. 

Fair call, albeit implying we may be also be a con is a little uncalled for, however understand your resentment due to the past.

All credentials will be happily provided during any due diligence process. 

We are simply looking to provide an alternative way forward that will provide current or past users the opportunity of redemption in some small way. As we are a registered credit lender one would hope that would eventually, if not from the outset, give a little more credence to previous users of the service.

It may be we simply provide a similar service without TF input, there certainly is that option available to us.

However, having the skeleton already built one can understand it makes some sense to use that as the basis of the next operation.

TF...if you are reading, please feel free to PM me if you would like to discuss further, as without your direct input we are not going to get too far with our offering.