Post
Topic
Board Securities
Re: [BitFunder] Graet.Loan - Paying 0.05% interest daily
by
Bananery
on 08/01/2015, 16:35:31 UTC
Hi folks,
Apologies for not responding earlier, been very busy plus trying to work out the best way to manage graet.loan with the changes at BitFunder. My initial hope had was to find a larger investor that could buy graet.loan from US based lenders and continue on BitFunder, BitFunder announcing it will close made that harder.

Timing in BitcoinWorld seems to be an important thing, the forums were down for days, came back, I went on a family vacation and a few hours after I left changes at BitFunder were announced, by the time I got home my portfolio had lost > 60% BTC value and I had a large number of redeem requests. In the past I have been able to fulfill redeem requests quickly but I do not have the liquidity to pay out many requests at once. The loan was mainly used to consolidate multiple smaller loans and to be able to use a central management system to pay interest, also in the past when possible I have bought back graet.loan on the market, not all 200,000 issued are still in circulation.

I still consider graet.loan to be a loan and intend to continue to pay interest and to buy back as I am able.

Best wishes
Graet


Here is an old message. Graeme admits he gambled with creditors coins by buying some unregulated securities.