Post
Topic
Board Long-term offers
Re: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19
by
hashking
on 08/09/2012, 21:13:53 UTC
I will currently be suspending all interest payments and withdrawals.  
As I receive coins from the various things that I have going on I will start sending people's principal back.  I will also be purchasing coins from my personal
funds.  Interest that has been paid out will be deducted from the current principal.  The reason for this is I would like to get everyone's principal
back before anyone receives anymore interest.  I am not able to give a timeframe on the repayment as there is alot of factors that can effect it.  I know for sure it won't be
weeks or months, but more then likely in the ballpark of 3 years.  

Why did this happen?

Over the last several weeks, I have had alot of depositors request their funds back with no new deposits.  I have been able to process these requests up until now.  I was also buying mining equipment and had some bad luck with some of the new vendors on the forum.  I put in some large orders that I never received the equipment in a timely manner, received equipment that really didn't work up to spec, or was forced to take a refund at a higher BTC price.  Finally I did make a mistake and invest a portion of the funds in BTCST along with with some personal funds.  

I do feel very bad that this has turned out this way.  I will do whatever I can to get everyone paid back.  I am also at a personal loss.  Payments will start going out Monday 9/8/12 9/10/12 EDIT.  This will be a slow process, so please be
patient.