Topic: [GLBSE] TEEK Funds - crowdsourced loans / p2p economics. NEW: TEEK.USD - page 2. (Read 8600 times)

TEEK.B News
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TEEK.B has had a bit of a rough ride.  Currently 50% of the TEEK.B capital can be accounted for in a semi-liquid usable form that is generating any interest. The other 50% is tied up in BTCST and Bitcoinica, in at best an unsuable illiquid form for the time being.  You can decide for yourself if you think any or all of it is coming back or not. If you choose to continue to hold TEEK.B and the btc or percentage thereof is returned, it will be divided equally amongst all outstanding TEEK.B without prejiduce.  You must hold the asset at the exact time of payment to be entitled to the payment.


TEEK.B is still involved in two ventures that are turning a profit, albeit they are fairly small at the moment. These projects are being agressively pursued.  Details on one of them will be posted in the near future.
  

TEEK.B will continue to pay partial interest on a best effort basis in its degraded state.  The minimum liquidity value has been revised to 0.5 BTC.


For those who choose to continue to support TEEK but wish to get out of TEEK.B, some options:


-  I will accept 3 TEEK.B for 2 TEEK.A

-  I will accept 1 TEEK.B for 6 TEEK.USD


For those just wanting to get out, the minimum liquidity provision at the new adjusted value of 0.5 BTC will be honored.


I hope you find that I have been as open and transparent as I can be given the situation.


teek

Interest paid for TEEK.A and TEEK.USD!   The BTCUSD rate for TEEK.USD was 11.06228.

Interest paid on TEEK.A and TEEK.USD

The BTCUSD rate for TEEK.USD was 9.97039
 
As many of you already know it looks like TEEK.B is taking a NAV hit.  I have paid .01 BTC per bond this week,  I am waiting 1 or 2 more weeks to make anything official to see how things progress while shifting gears on other TEEK.B business to make up for the shortfall.  If the situation remedies itself the .02 shortages will be paid to each bond. 

All in all, this a short term problem for the TEEK assets.  In both our growing on-line community and  in the day to day real world, bitcoin commerce is growing and opportunity is at an all time high. We will grow with it. 

teek

We don't care how long you are there. Good managed ponzi can run for months or years. We all can see how long pirateat40 was there and now it's all gone.
All we need is your verification. If you are going to ignore our will, nobody will bother about investing in such risky investment fund as yours.
If you going to Bitcoin Conference in London, we can meet together and speak.

What kind of decisions, if I may ask? I guess "best effort basis" means you could lower payments, for as long as you need?
Could you estimate a lower bound for the near future? Is there the risk of going below 1%?

Interest paid!

The BTCUSD rate for TEEK.USD was 10.53880
 

teek

I will ponder this again...  I hadn't really thought of it much since..  As for building trust,  I am one of the oldest remaining asset issuers on GLBSE, my oldest issue is turning 1 year old in a couple weeks, BMMO.   

I may be making some announcements in the next couple of weeks and if that is the case I will do my best to address this issue then.


teek

TEEK.A and TEEK.USD are guaranteed and are in no way affected or related to pirate / btcst.   As I have mentioned before TEEK.B is partially exposed to pirate, but i am going to wait and see how this plays out before i make any decisions on anything etc.  Until then, TEEK.B interest payments will continue as normal.


teek

 

How does the recent Pirate.... change... affect these funds? Most notably TEEK.B since TEEK.A is guaranteed.

I hoped this question would have been answered by now. You seem a serious and reliable person overall, but not verifying and ignoring the ones that ask about it isn't exactly great for building trust.

From 6th of May 2012 you cannot verify yourself on GLBSE. Sorry, but I am not going to invest in your assets. And I am warn others from doing so.
Get yourself verified man, and then we speak again. We don't know who you are, and how long are you going to keep your business running before you run away with money.

Interest paid!

The BTCUSD rate for TEEK.USD was 10.00261

Looks like we have an interesting week ahead of us.. 

teek

Interest paid!

TEEK.USD calculated @ 11.62933

BTCUSD on fire right now,  get some TEEK.USD @ .083333

Interest paid!

The BTCUSD rate used for TEEK.USD was 10.64905


teek

In the bull market we are in yeah.. but hopefully volume will eventually pick up and the spread will tighten up..   Glad you like it.

teek
 

Hm, taking TEEK.USD as a way to trade on BTC price inside GLBSE has rapidly proven one of the worst ways to waste my money I have come across in my life, HYP scams aside.
But I guess I have learnt now. I can put BTC there, and if price goes down -profit! If not... hey, 1%/week on a USD deposit, what bank offers that? I can simply take that much money, buy new bitcoins, and the final effect will have been to move them to a much higher interest, without adding too much currency risk.

Seen under this light, this is maybe the gretest asset ever 

glad someone likes it   volume has been pitiful so far tho..

Oh wow. I am going to buy a few shares of TEEK.USD. It's like depositing coins and then taking a short CFD for the total, but all in one click

You are very welcome.

teek