Pages:
Author

Topic: bitfloor needs your help! - page 18. (Read 177469 times)

hero member
Activity: 728
Merit: 500
September 10, 2012, 03:24:49 PM
So... he said he filed some reports with the FBI, where do we find the record of this?
legendary
Activity: 3374
Merit: 4738
diamond-handed zealot
September 10, 2012, 12:39:16 AM

If this happened to a company I was the majority share holder of....I wouldnt be in Europe right now....
http://twitter.com/defunctzombie


Hmmmmm, in Europe, trying to get in touch with interpol.

interesting
newbie
Activity: 11
Merit: 0
September 10, 2012, 12:18:50 AM
I am soliciting offers for the purchase of my 103 BTC balance at Bitfloor.

I will purchase it for my 36 BTC balance at bitfloor Wink

Nice try.

If I end up filing suit in small claims court for my debt, I would consider acting as your agent as well for a reasonable fee.
Good luck with that. If he really does have law enforcement involved, I believe your claim will have to wait...
Not necessarily...You can file the summons and complaint and preliminary filings.....I wouldnt do it in small claims..especially in NY. I purchase debt in NY and NJ pre and post judgment on a daily basis. And enforce it on my own behalf... But honestly if I were in this mess..I would have an emergent ex parte motion asking the court to appoint a receiver and to grant a preliminary injunction against all principals and employees from accessessing any servers, offices, bank accounts, etc to allow the receiver to examine and secure everything....
If this happened to a company I was the majority share holder of....I wouldnt be in Europe right now....
http://twitter.com/defunctzombie
hero member
Activity: 784
Merit: 1000
0xFB0D8D1534241423
September 09, 2012, 05:18:11 PM
I am soliciting offers for the purchase of my 103 BTC balance at Bitfloor.

I will purchase it for my 36 BTC balance at bitfloor Wink

Nice try.

If I end up filing suit in small claims court for my debt, I would consider acting as your agent as well for a reasonable fee.
Please do file suit.
donator
Activity: 1466
Merit: 1048
I outlived my lifetime membership:)
September 09, 2012, 05:09:25 PM
I am soliciting offers for the purchase of my 103 BTC balance at Bitfloor.

I will purchase it for my 36 BTC balance at bitfloor Wink

Nice try.

If I end up filing suit in small claims court for my debt, I would consider acting as your agent as well for a reasonable fee.
Good luck with that. If he really does have law enforcement involved, I believe your claim will have to wait...
donator
Activity: 980
Merit: 1000
September 09, 2012, 08:19:16 AM
Yeah well, 25 for 103 is fine considering it's a small amount. If it was a bigger quantity I wouldn't have offered that much at this point.

If you get confirmation that BTC amounts can be transferred account-to-account, then you'll probably find plenty of offers for cents on the dollar.

I'd need to register for that and it's closed for registrations at the moment.
legendary
Activity: 2506
Merit: 1010
September 09, 2012, 02:34:53 AM
ever since being wrong about the outcome of Bitfloor's situation



  - http://www.youtube.com/watch?v=1-Sgvq98mjc
legendary
Activity: 1680
Merit: 1035
September 08, 2012, 11:54:28 PM
I didn't lose anything in Bit floor, but I'm willing to put up a few hundred as investments or bonds into this thing to get it going again  Tongue
Any word from Roman as to what he's hoping/planning to do?
legendary
Activity: 1260
Merit: 1000
September 08, 2012, 11:52:05 PM
All's good, he responded.  And I lost not an insignificant amount of coins on Bitlfoor as well.. ugh.
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
September 08, 2012, 03:27:35 PM
WTH Stephen, you just totally blowing off my PMs completely?  At least respond and tell me you're not interested.

Yes, Steve has been a bit pouty and moody lately, ever since being wrong about the outcome of Bitfloor's situation.  I think it hurt his ego.   Cheesy

Maybe he had more Bitcoins there than he could afford to lose?  Don't worry about it, he's not worth it.
legendary
Activity: 1260
Merit: 1000
September 07, 2012, 10:16:39 PM
I have done it in small claims court here in Kansas. Granted I don't know NY or VA law, but you absolutely can pierce the corporate veil in small claims court and it doesn't even have to be for criminal activity;  I've done it on civil cases, you just have to show either willful negligence or willful intent to use the corporations to avoid the law and the judge is more than happy to bust right through the corporation and attach the judgement to the owners.  

On an unrelated note, WTH Stephen, you just totally blowing off my PMs completely?  At least respond and tell me you're not interested.
legendary
Activity: 2506
Merit: 1010
September 07, 2012, 09:27:20 PM
Yeah well, 25 for 103 is fine considering it's a small amount. If it was a bigger quantity I wouldn't have offered that much at this point.

If you get confirmation that BTC amounts can be transferred account-to-account, then you'll probably find plenty of offers for cents on the dollar.
donator
Activity: 980
Merit: 1000
September 07, 2012, 02:26:51 PM
muyuu obviously valuation may change if some capital is injected into bitfloor by outside investors.

Yeah well, 25 for 103 is fine considering it's a small amount. If it was a bigger quantity I wouldn't have offered that much at this point.
donator
Activity: 1218
Merit: 1079
Gerald Davis
September 07, 2012, 02:01:28 PM
muyuu obviously valuation may change if some capital is injected into bitfloor by outside investors.
donator
Activity: 980
Merit: 1000
September 07, 2012, 01:59:13 PM
Pirate debt is still trading at 15%.  Surely Roman's obligation and a viable, operating enterprise is worth substantially more.

At 15% it's overpriced but even so 25% is a lot more than 15%.

The person offering 25% can likely get as much debt as he can possibly afford for far far less than 25%.  Good thing for him you rejected it.

I felt generous because he was the first guy to get the ball rolling Cheesy

donator
Activity: 980
Merit: 1000
September 07, 2012, 01:48:17 PM
Ok then, I take my offer back.

Good luck Tongue
hero member
Activity: 868
Merit: 1002
September 07, 2012, 01:26:46 PM
I didn't see Roman post that he was using his personal account. My deposits were made to a business account. Care to link the post?
donator
Activity: 1218
Merit: 1079
Gerald Davis
September 07, 2012, 01:18:39 PM
Small claims court has no jurisdictional authority to pierce the corporate veil, at least not in VA and seriously doubt it can be done in NY. Filing against Roman personally would simply get it dismissed off the bat.  You certainly could file suit against Bitfloor but then any damages are owed by Bitfloor, Inc.  Bitfloor, Inc already owes you so you haven't accomplished a lot. Just my opinion but the probability of getting awarded damages is very low.  No court in the country has awarded damages based on Bitcoin losses, debts, or claims.  It is somewhat unlikely a small claims judge wants to be the first based on the incomplete evidence and lack of counsel which is common in small claims court. 

If Roman used a personal bank account for company business it "could" be used to pierce the corporate veil.  I don't recall getting any ACHs from Roman I did get ACHs from Bitfloor, Inc.  Still even with technical violations like incorrect accounts, or missed corporate meetings the court usually considers intent.  Was it a technical violation or is there evidence that the intent was to run personal finances through a sham corporations?  Depending on the evidence you *may* get the damages transfered to the owners but it would hardly be "simple".  More like a legal longshot and it isn't going to happen without retaining counsel.


The person offering 25% can likely get as much debt as he can possibly afford for less than 25%.  Good thing for him you rejected him out of hand.
hero member
Activity: 756
Merit: 501
September 07, 2012, 01:02:38 PM
Not even close.  Bitfloor in liquidation is worth at least 40% of the reported losses.  Plus gross negligence on Roman's part should make it straightforward to get a judgement against his personal assets.

Bitfloor in liquidation (with no outside capitalization) is worth $105,000+?  Essentially the only assets are the code and brand.  While the fair mark value might be a hundred grand generally in liquidation assets go for $0.20 on the dollar or less.  Soft assets (like code, databases, customers lists, etc) go for even less.

So that would put the fair market value on Bitfloor software and brand at roughly $500K to $1M.   Pretty high valuation.  Also you have no chance of piercing the corporate veil unless you can prove criminal negligence occurred.  Also how are you going to get this judgement?  By hiring legal counsel, proving your deposit exists, proving that Bitcoins are worth damages in legal tender that the court can award, and proving criminal negligence to pierce the corporate veil?

The value of your claim is ~$1000 gross once you subtract legal fees out you will have roughly nothing even if you could accomplish all that.  25% is likely overvalued at this point.

Bitfloor's revenue was over 30k / year with a very high growth rate.  I don't see 3x revenue as a very high valuation.

There need be no legal fees.  The bar in small claims cout is very low. Roman posted here using his personal account for all bitfloor business. And criminal negligence is not the bar in cases where there is a fiduciary duty.

Pirate debt is still trading at 15%.  Surely Roman's obligation and a viable, operating enterprise is worth substantially more.
donator
Activity: 1218
Merit: 1079
Gerald Davis
September 07, 2012, 12:42:48 PM
Not even close.  Bitfloor in liquidation is worth at least 40% of the reported losses.  Plus gross negligence on Roman's part should make it straightforward to get a judgement against his personal assets.

Bitfloor in liquidation (with no outside capitalization) is worth $105,000+?  Essentially the only assets are the code and brand.  While the fair mark value might be a hundred grand generally in liquidation assets go for $0.20 on the dollar or less.  Soft assets (like code, databases, customers lists, etc) go for even less.

So that would put the fair market value on Bitfloor software and brand at roughly $500K to $1M.   Pretty high valuation.  Also you have no chance of piercing the corporate veil unless you can prove criminal negligence occurred.  Also how are you going to get this judgement?  By hiring legal counsel, proving your deposit exists, proving that Bitcoins are worth damages in legal tender that the court can award, and proving criminal negligence to pierce the corporate veil?

The value of your claim is ~$1000 gross once you subtract legal fees out you will have roughly nothing even if you could accomplish all that.  25% is likely overvalued at this point.
Pages:
Jump to: