I may need to rework the insurance offering on this. I know I am not going anywhere, so it is not something I am particularly worried about. I am also one of the most open / easy to find people around.
I just thought that in the current marketplace anything I can do to help secure shareholder value while I build trust would be a good move.
Not sure what to do about this.
Quote
Hello, I'd like to make a quick announcement.
Dividends (and the monthly report) are being delayed until this Sunday so I can do them at the same time as NYAN/BMF/YARR. However I will give a sneak peek of the kind of report I will release on sunday. And it's a very pissed off report.
First, the obvious. CPA won't pay dividends this month because of the pirate collapse. CPA has lost about 40% of it's value.
And when I say 40% I mean, at a minimum. There is another problem on the horizon which is extremely troubling.
When we started, everyone was calling me a scam artist and a ponzi runner. I was desperate to build trust in the community so I chose five of the most respected lenders I could find and invested ~500 BTC with each of them. No names (for now). only one of them was actually able to pay back the money. Every other deposit-taker has either stalled or has told me that they have lost substantial amounts of CPA's money (25-50% and more, in almost every case).
The actual investments that CPA has run (or me) such as NYAN, have been fine. And yes the market has gone down, that's true. BMF lost 40% of it's value because we invested right before the ASIC news. I know that. But it is a little disheartening to have to come back to the community in this way because I went to the community in the first place for trust and it was the community itself that let me down.
it's basically come down to, if the last 2 people I invested money with can't pay back, there will be no way to hide or avoid the losses, and CPA's net value will go to zero.
We still make money, we still have contracts, we just don't have any free assets. How much is CPA worth? I really have no idea. It's probably time for you guys to start waking up and forgetting about 1% returns a week; real world businesses usually make 5-10% a year. Not a month, a year. Oh and by the way that's where mining will be in six months too. So there you go.
In a worst case scenario all existing shareholders will get a buyout for 0.10 or 0.20, maybe with my own personal money and I will reissue new shares to back the profit and obligations of existing contracts. It's either that or go to zero and cease operations. And that means YARR too.
Then again, the people CPA puts money with could pay us back.
No names. Except one. Patrick Harnett returned my money almost immediately and was all around pretty professional about it.
And one more thing. Another big, big effort I made in order to build trust within the community was to host a round table discussion group which during it's time had some of the biggest names around on it. We discussed operations, I laid out plans, and I basically gave everyone a share of the power CPA had. It was a great idea. But one by one the people on it left because they were unwilling to put their name behind CPA. Over and over again I was told that I couldn't be trusted and people didn't want to associate with me or CPA because they thought maybe they would get sued or something. WTF? Yeah right.
So I am actually kind of pissed off at the shitty community around here. CPA was really a way to fix that community, to build trust and to try and prevent the next big scam (which for many people it did. We bought back over 2200 btc worth of YARR and paid out on several pirate insured contracts).
It really pissed me off when people like ########## would ramble on about how untrustworthy I was or my business was.
But something like this you know, one man can't do it alone. I needed a team. I needed to work with the community. Well actually I am so pissed off at this that I think once CPA pays out on it's obligations I'll just shut it down.
One man alone can't do this. I needed to trust the people around me but they all pretty much bailed or (essentially) ripped me off one way or another. What a disappointment.
Dividends (and the monthly report) are being delayed until this Sunday so I can do them at the same time as NYAN/BMF/YARR. However I will give a sneak peek of the kind of report I will release on sunday. And it's a very pissed off report.
First, the obvious. CPA won't pay dividends this month because of the pirate collapse. CPA has lost about 40% of it's value.
And when I say 40% I mean, at a minimum. There is another problem on the horizon which is extremely troubling.
When we started, everyone was calling me a scam artist and a ponzi runner. I was desperate to build trust in the community so I chose five of the most respected lenders I could find and invested ~500 BTC with each of them. No names (for now). only one of them was actually able to pay back the money. Every other deposit-taker has either stalled or has told me that they have lost substantial amounts of CPA's money (25-50% and more, in almost every case).
The actual investments that CPA has run (or me) such as NYAN, have been fine. And yes the market has gone down, that's true. BMF lost 40% of it's value because we invested right before the ASIC news. I know that. But it is a little disheartening to have to come back to the community in this way because I went to the community in the first place for trust and it was the community itself that let me down.
it's basically come down to, if the last 2 people I invested money with can't pay back, there will be no way to hide or avoid the losses, and CPA's net value will go to zero.
We still make money, we still have contracts, we just don't have any free assets. How much is CPA worth? I really have no idea. It's probably time for you guys to start waking up and forgetting about 1% returns a week; real world businesses usually make 5-10% a year. Not a month, a year. Oh and by the way that's where mining will be in six months too. So there you go.
In a worst case scenario all existing shareholders will get a buyout for 0.10 or 0.20, maybe with my own personal money and I will reissue new shares to back the profit and obligations of existing contracts. It's either that or go to zero and cease operations. And that means YARR too.
Then again, the people CPA puts money with could pay us back.
No names. Except one. Patrick Harnett returned my money almost immediately and was all around pretty professional about it.
And one more thing. Another big, big effort I made in order to build trust within the community was to host a round table discussion group which during it's time had some of the biggest names around on it. We discussed operations, I laid out plans, and I basically gave everyone a share of the power CPA had. It was a great idea. But one by one the people on it left because they were unwilling to put their name behind CPA. Over and over again I was told that I couldn't be trusted and people didn't want to associate with me or CPA because they thought maybe they would get sued or something. WTF? Yeah right.
So I am actually kind of pissed off at the shitty community around here. CPA was really a way to fix that community, to build trust and to try and prevent the next big scam (which for many people it did. We bought back over 2200 btc worth of YARR and paid out on several pirate insured contracts).
It really pissed me off when people like ########## would ramble on about how untrustworthy I was or my business was.
But something like this you know, one man can't do it alone. I needed a team. I needed to work with the community. Well actually I am so pissed off at this that I think once CPA pays out on it's obligations I'll just shut it down.
One man alone can't do this. I needed to trust the people around me but they all pretty much bailed or (essentially) ripped me off one way or another. What a disappointment.