Post
Topic
Board Securities
Re: BITBOND update and request for feedback
by
usagi
on 04/02/2013, 17:24:16 UTC
BITBOND ASIC call for feedback

Hello BITBONDers

I am sorry for the limited updates recently.  There have been a number of things going on behind the scenes to figure out a path forward.  With a high degree of confidence I can now share with you a plan for BITBOND.

First, let me apologize deeply for the suspension of payouts.

You paid out your 85% shareholders but left people like me in the cold. I took an incredible amount of heat from the community because people blamed me for investing with people who ended up defaulting. I was accused of being a scammer not least of all because I invested so much money with people like Hashking.

One of the shining jewels of BMF was BTC-MINING. I had 300 shares. I had over 500 at one point. But because of the crap I had to take I couldn't re-list my securities and keep them running. I was given one month to shut down. The community simply would not give me the time I needed to make things right. In an absolute mortal panic, I asked for help and Deprived gave me the suggestion of running an auction. I sold off the 300 BTC-MINING shares, which I paid 300 bitcoins for, recieving a grand total of 15 bitcoins.

At today's prices I lost almost $6,000 dollars. And this is not a business loss. In order to continue doing business in the community I had to assume personal liability for this loss.

While I don't hate you I want you to know that your return is far too late for a great many people, chiefly me I guess. You're also not alone. I had to auction off BitVPS, and we were forced to sell our extensive satoshidice holdings at 0.0037 as well. Literally, if I could just have recovered half the value from BTC-MINING -- even just half -- I would have been relatively okay, personally-financially speaking. If only I had known. If only someone had told me. If only I could have told the community that there was real value in my companies. Maybe I could have kept on trading and I wouldn't have had to sell over $6,000 of my gold and silver and my gibson SG guitar (which I still can't bear to ship, Mr. T. is probably angry at me). Maybe people wouldn't have accused me of losing so much money of investor's funds.

I didn't quote the rest of your message but I read it.

I am sorry to say I won't be able to participate in BITBOND because I lost all my money and all my shares. But i'm happy you were able to purchase 10 Avalon ASICs though. It was on my back but at least your remaining investors, whoever they are, will be happy.