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Topic: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19 - page 22. (Read 93739 times)

full member
Activity: 562
Merit: 100
This is after the fact that Hashking has admitted a fuckup, 'insured' apparently meant 'in pirate@40's wallet', I am not discussing what 'insured' should have meant because we all know that, but what I feel should be done now to remedy the situation, and what can be fairly acheived given there isn't enough money to meet obligations fully.
The problem is that everyone who makes such an argument has an interest in the payoff schedule that pays them the most the quickest. If the payoff is going to be proportional to amount owed, there's no reason to treat interest earned prior to default any different from principles deposited after default. Anyone who earned interest prior to default could have withdrawn it and re-deposited as principle. That should, obviously, have no effect. People who rolled over interest they could have withdrawn trusted him with those funds just as much as people who deposited principle did.

As disclosure my deposit is quite small and according to his way of doing it I'd be in the next day or so's payouts, unless I've been ruffling his feathers too much :0 Maybe I *am* blinkered w.r.t interest payback, but what I was proposing would still leave me in a less advantageous position than the way he seems to be doing it. Anyway this is academic as he seems to have settled upon his own way of winding down without being drawn into discussion, I can understand why, and unless somebody does call the recievers in it's hashking's perogative to do so.
zyk
full member
Activity: 224
Merit: 101
hashking, please don't let them get to you, just focus on those with deposits...

JoelKatz, go away, your not helping

Yes he is. You only started listening to him much too late.

He's not helping anymore, he's kicking a dead horse.

No, as he likes fabulous metaphors....he is still riding it......or better yet....to draw attention away from real world ponzi pay-outs....

he flies as an ants queen on her back having a nice s(f)ucking with her ticks, so that all that the common ants folks can´t do their busy groundwork anymore...

and when returning she complains that her larvae has been starved to death.

Have a good flight

Zyk
sr. member
Activity: 294
Merit: 250
hashking, please don't let them get to you, just focus on those with deposits...

JoelKatz, go away, your not helping

Yes he is. You only started listening to him much too late.

He's not helping anymore, he's kicking a dead horse.
donator
Activity: 1654
Merit: 1287
Creator of Litecoin. Cryptocurrency enthusiast.
I wouldn't sell any of my personal assets to cover any bitcoin losses.  This is a business, it has failed.  When businesses fail they shut down and usually nobody gets anything.   I will continue to make payments from my bitcoin production and buy coins whenever I can.  If people continue at act they way they are acting I will just walk away.  

Hashking, I think you should reconsider this position. When you guarantee a deposit, you are basically guaranteeing it with your personal assets. Otherwise the guarantee makes no sense. And since you screwed up by putting deposited funds with Pirate, you should own up to the mistake and honor the guarantee by selling your personal assets to cover the loss. If you are already doing that to make good on your guarantee, please continue to do so. And thanks for trying to make things right.
legendary
Activity: 980
Merit: 1040
hashking, please don't let them get to you, just focus on those with deposits...

JoelKatz, go away, your not helping

Yes he is. You only started listening to him much too late.
legendary
Activity: 1260
Merit: 1000
Drunk Posts
hashking, please don't let them get to you, just focus on those with deposits...

JoelKatz, go away, your not helping
sr. member
Activity: 308
Merit: 250
I will be sending another payment out tonight.  That is all you will hear from me today.
donator
Activity: 3024
Merit: 1105
I wouldn't sell any of my personal assets to cover any bitcoin losses.  This is a business, it has failed.  When businesses fail they shut down and usually nobody gets anything.
Umm, no. That's not true. Declaring your business a failure doesn't absolve you of your debts. You are your business. Your business is you.

Quote
I will continue to make payments from my bitcoin production and buy coins whenever I can.  If people continue at act they way they are acting I will just walk away.  
Threatening to renege on a legitimate debt to obtain a business concession is scamming.


Well then sue me.  Lets see what a court will say about bitcoin.  I will just file for a bk and I'm done.


JoelKatz has no money invested with you, I do & would very much appreciate it being returned asap, as I've already said to honor my obligations to others I'm now having to borrow fiat & sell assets to make good the coins I trusted your word upon.
sr. member
Activity: 308
Merit: 250
I don't wish to go this route (I really don't).

But as you bring it up: Did you register a business? If not I think the court (if they regard evidence sufficient) will hold you personally responsible. Of course you can declare a bankrupt (well actually I think you need one of your debtors to do it for you) but that will just result in all your holdings being seized, liquidated and the proceeds used to make whole who you are in debt to.

Good Luck.
legendary
Activity: 2324
Merit: 1125
I don't wish to go this route (I really don't).

But as you bring it up: Did you register a business? If not I think the court (if they regard evidence sufficient) will hold you personally responsible. Of course you can declare a bankrupt (well actually I think you need one of your debtors to do it for you) but that will just result in all your holdings being seized, liquidated and the proceeds used to make whole who you are in debt to.
zyk
full member
Activity: 224
Merit: 101

early heroadopters.


I'm gonna go ahead and steal this phrase for any future appropriate conversations, in case you don't mind.

I mind stealing  but heroadopting it, thats fine with me Wink

but beware...using it might get you ignored....watch my counter Wink

Cheers Zyk
sr. member
Activity: 308
Merit: 250
I wouldn't sell any of my personal assets to cover any bitcoin losses.  This is a business, it has failed.  When businesses fail they shut down and usually nobody gets anything.
Umm, no. That's not true. Declaring your business a failure doesn't absolve you of your debts. You are your business. Your business is you.

Quote
I will continue to make payments from my bitcoin production and buy coins whenever I can.  If people continue at act they way they are acting I will just walk away.  
Threatening to renege on a legitimate debt to obtain a business concession is scamming.


Well then sue me.  Lets see what a court will say about bitcoin.  I will just file for a bk and I'm done.
legendary
Activity: 980
Merit: 1040
I wouldn't sell any of my personal assets to cover any bitcoin losses.  This is a business, it has failed.

You defrauded it. Big difference.
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
I wouldn't sell any of my personal assets to cover any bitcoin losses.  This is a business, it has failed.  When businesses fail they shut down and usually nobody gets anything.
Umm, no. That's not true. Declaring your business a failure doesn't absolve you of your debts. You are your business. Your business is you.

Quote
I will continue to make payments from my bitcoin production and buy coins whenever I can.  If people continue at act they way they are acting I will just walk away.  
Threatening to renege on a legitimate debt to obtain a business concession is scamming.
sr. member
Activity: 308
Merit: 250
I wouldn't sell any of my personal assets to cover any bitcoin losses.  This is a business, it has failed.  When businesses fail they shut down and usually nobody gets anything.   I will continue to make payments from my bitcoin production and buy coins whenever I can.  If people continue at act they way they are acting I will just walk away.  
legendary
Activity: 1134
Merit: 1005
Now getting back to 'Insured', Hashking, I hope you are looking at slimming your property portfolio if necessary to make good on this.
That is.... If HK even have a property portfolio. It could be another of his thread trying to ask for loan for non-existing property rentals.
I am happy to be proved wrong though.
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
This is after the fact that Hashking has admitted a fuckup, 'insured' apparently meant 'in pirate@40's wallet', I am not discussing what 'insured' should have meant because we all know that, but what I feel should be done now to remedy the situation, and what can be fairly acheived given there isn't enough money to meet obligations fully.
The problem is that everyone who makes such an argument has an interest in the payoff schedule that pays them the most the quickest. If the payoff is going to be proportional to amount owed, there's no reason to treat interest earned prior to default any different from principles deposited after default. Anyone who earned interest prior to default could have withdrawn it and re-deposited as principle. That should, obviously, have no effect. People who rolled over interest they could have withdrawn trusted him with those funds just as much as people who deposited principle did.
hero member
Activity: 952
Merit: 1009

early heroadopters.


I'm gonna go ahead and steal this phrase for any future appropriate conversations, in case you don't mind.
zyk
full member
Activity: 224
Merit: 101
Something that is guaranteed is GUARANTEED!
Which letter of GUARANTEED don`t you understand?!?

Greetz

Have you ever heard of guaranteed ponzi schemes? Wink

Usually there even is a "fully" guaranteed  chargeback at the end for the early heroadopters.

http://online.wsj.com/article/SB10001424052970203513604577142602812291424.html#articleTabs%3Darticle

Cheers Zyk
full member
Activity: 562
Merit: 100
No my assumption is this: For compounding accounts, this is simply returned, without interest. For weekly interest payouts any already paid interest would be deducted from the capital, then the remainder returned. This first step, done quickly would satisfy 'Insured' as far as I am concerned. I would then expect Hashking to make good on the interest over time to satisfy 'Fully'.

Now getting back to 'Insured', Hashking, I hope you are looking at slimming your property portfolio if necessary to make good on this.
You can't split a semantic unit and satisfy it part by part. If I promise you "lots of money", I can't give you lots of sand to satisfy the "lots" part and then move on to the money part. "Fully insured" means that the insurance will be full. Any lesser doesn't satisfy the "insured" part because the type of insured that part refers to is "fully".


Lots of sand? Anyway, back on planet Earth....

This is after the fact that Hashking has admitted a fuckup, 'insured' apparently meant 'in pirate@40's wallet', I am not discussing what 'insured' should have meant because we all know that, but what I feel should be done now to remedy the situation, and what can be fairly acheived given there isn't enough money to meet obligations fully.
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