I have sent TF many E-Mails and he has not responded to any, except for the generic "we are not handling CL refunds now". The rise in BTC is making me sick that I ever invested with him. So, my questions are:
1. Has anyone heard from TF unless they offer a settlement for pennies on the dollar?
2. Has anyone heard TF make any statements about his goals for repaying? 50% 80% 100%? His lack of communication makes me suspicious he is even attempting to regain solvency.
3. Does anyone have any insights into what his investments were/are?
4. Has there been any news on the 4 people TF called out for not re-paying their loans?
Here is a rough calculation I made in an E-Mail to TF. The situations seems it should not be as bad as his lack of communication is indicating.
"The numbers are currently not adding up. A 4100 BTC loss at inpus should affect CL to some extent, but even if half of that was CLs money and was refunded at 50% that should only be a 1000-2000 BTC loss of which 600 DumbFruit forfeitted in his settlement. If those losses are distributed evenly, and nearly 10,000 BTC were in coinlenders everyone should be able to get over 80% of the principal back. Can you please shed light on this and explain what is being done to continue collections?"
1. Has anyone heard from TF unless they offer a settlement for pennies on the dollar?
2. Has anyone heard TF make any statements about his goals for repaying? 50% 80% 100%? His lack of communication makes me suspicious he is even attempting to regain solvency.
3. Does anyone have any insights into what his investments were/are?
4. Has there been any news on the 4 people TF called out for not re-paying their loans?
Here is a rough calculation I made in an E-Mail to TF. The situations seems it should not be as bad as his lack of communication is indicating.
"The numbers are currently not adding up. A 4100 BTC loss at inpus should affect CL to some extent, but even if half of that was CLs money and was refunded at 50% that should only be a 1000-2000 BTC loss of which 600 DumbFruit forfeitted in his settlement. If those losses are distributed evenly, and nearly 10,000 BTC were in coinlenders everyone should be able to get over 80% of the principal back. Can you please shed light on this and explain what is being done to continue collections?"
Nice idea tehelsper, but you're operating on the assumption that TradeFortress isn't operating Coinlenders like a traditional bank. Traditional banks lend out 90+% of their deposits. I'm betting TF has done the same, and hasn't gotten paid back yet on all his outstanding loans, which would now be exponentially harder for the people who took out the loans given the insane rise of bitcoins lately.
