1. The insurance policy had NO benefit to BMF (paying over 500 ppremiums for 500 cover that would never be claimed) OR
2. It had benefit - which usagi then failed to claim on BMF's benefit.
This is why no one should listen to you. 500 coins were not paid. For the billionth time, check the address on the contract before you make an ass of yourself again... please.
You are SUCH a fool. You have been making basic, fundamental mistakes in judgement like this over and over and over again. Unfortunately people like Maged started to listen to your shit and I lost actual money because of irresponsible comments that he made. You bet your pants there has been a demonstrated financial loss here.
Here's what really happened.
The insurance deal was probably made in good faith - it gave cash-flow to CPA and gave BMF investors security against another price drop as they'd just recovered from.
If the insurance was made in good faith then I am not a scammer. You cannot however now
speculate that I have done something wrong and deserve a scammer tag
anyway.CPA wasn't risking much - as they'd make a profit even if they paid out the full amount they were liale for. BUT then pirate happened - where usagi fucked up royally including insuring against pirate default even when it knew pirate was about to default just to prove it was trustworthy (lol). CPA ended up broke just when BMF needed to claim. And usagi pretended it hadn't happened - probably hoping to sort it out later when things got better. But things didn't get better - as usagi's incompetence contiuned to spew funds away left, right and centre in every business venture it dabbled in. So usagi then started lieing - claiming it had been explained (it hadn't), claiming it had been voted on by shareholders (it hadn't) etc.
It certainly had been explained. This has been discussed before. I've mentioned many times how I advertised the contract. You cannot state that I did not do this and then state on top of that the reason I did so (I didn't) was to scam people, because that would be a lie.
This is also when usagi started defrauding nyan investors (which I never got around to posting about) by making interest free loans to CPA (dressed up as holding YARR shares for the books). Including "selling" YARR shares to nyan at 1.5 each when pirate was in default with a buyback of 1.0 (and AFTER usagi had given up on the pretence YARR was going to change to OBSI - always a pretence as CPA didn't have the cash to insure them - it was just a bullshit claim made to try to get some people not to cash in their insurance which there wasn't funds for). Interetsingly, there IS an argument to be made that these interest-free loans WERE in the interest of nyan shareholders - that an interest free loan generates more profit that having the funds be actively managed by usagi.
Again -- total unmitigated bullshit. YARR was bought back except for around 80 shares. That's right, almost all of the 2,500 was bought back. I lost personal money paying people back so fuck you.
Question on the BMF insurance is simple:
When the policy was signed, did BMF intend to claim if the conditions to claim were met?
If no - then what possible benefit was BMF getting from the policy?
If yes - then what changed to make it in BMF's interest not to claim?
As explained a dozen times to you it was a test contract which I wrote to see how such insurance would work. I didn't have to publish the contract or tell anyone anything. I accelerated the obligation and closed the contract when we started signing this kind of contract with other people including bitcoinmininginv, bakewell, luceo's vps, etc. Get it? It was a prototype. You have been told this several times.
You have made several fundamental errors in logic and judgement in your post but this is the most glaring:
There is no victim.
Where are the victims? Who did I defraud? NO ONE. So FUCK OFF, I'm not a scammer, game over, get it? Writing this contract helped me sign other contracts and gain business for CPA. We did good. People saw how it worked and wanted to get a similar contract for their own business. We helped people. Only a sick twisted slimy fuck like you would try and twist this into something negative.
And on ths dumb point about "all mining bonds lost 60% and I only lost 50% so I'm a good investment manager". No. Just No. A good investment manager wouldn't invest in something that was going to lose 50% just to "outperform" even worse managers who lost 60%. They'd research the area first - realise it was bad to invest in - and not touch it. That simple. A good manager certainly wouldn't repeat their losses again (nyan.b/c) just to prove they were up there with the best at losing money. And you compare investment companies to other investment companies - not to mining companies.
Asshole. Go bother gigavps, meni rosenfeld, garr255, jwu, etc. No on second thought go fuck yourself.