Quote from: usagi on June 08, 2013, 01:18:47 PM

The Truth Thread

In a way I am sorry I have to do this. I really would prefer to ignore trolls. But look what happened when I ignored Deprived and friends in 2012 -- he and trolls just like him -- Ian Bakewell, BitcoinOZ and EskimoBob, among others -- caused enough damage that mods started harassing me and I could not get listed in BTC-TC for the first six months of 2013. Now the truth is out, Ian Bakewell is tagged a scammer, BitcoinOZ is known to have stolen NYAN's shares and abandoned his asset on BTC-TC, and EskimoBob's security immediately crashed 99.5% of it's value, these people still continue to bother me. Deprived in particular does not know when to stop.

After reading this you may wonder whether or not Deprived is mentally insane. Why does he bother me so much? It could be because I have discovered many discrepancies in the books for LTC-ATF (for example, see see here). Perhaps it is because I market make his security LTC-ATF.B1 and prevent him from selling shares at far above their book value as I have shown he has done in the past. But whatever the reason, I have had to suffer his malicious criminal libel for about an entire year now.

There's really not much I can do except expose him as a liar. Hence this one, simple post.

To keep it simple this post will contain accusations issued by Deprived since June of this year when I relaunched BMF, and will mainly contain accusations regarding BMF.

=====

1. Deprived claims that a list of assets stated to belong to BMF actually belongs to TU.SILVER
"Are you saying that those assets belong to BMF? Or are those assets that belong to various of your assets (including TU.SILVER)?"
https://bitcointalk.org/index.php?topic=226650.msg2385638#msg2385638

Response: There is no logical reason for him to come to the conclusion, or even have the idea that the assets belong to TU.SILVER. Despite a rebuke in a following post, he goes on to harp on this several times as if I hadn't said anything.

2. Deprived claims I am refusing to provide information necessary to calculate any value for BMF.
"So you're asking for approval for an asset that has SOME assets but which refuses to provide information necessary to calculate any value for it." (ibid)

Response: Given that I had posted a list of assets, it is illogical for him to assume I am refusing to provide information necessary to calculate value for BMF.

3. He claims I am mixing personal funds with those of my companies.
"Usagi doesn't properly segregate assets belonging to different companies."
https://bitcointalk.org/index.php?topic=226650.msg2386676#msg2386676

Response: DeaDTerra and cusdog (and notably, pigeons, and notably twice, deprived(!!!)) have seen the TU.SILVER spreadsheets and it is exceedingly obvious that I keep meticulous records for TU.SILVER. Second, now that BMF is trading again it has been moved to a separate BTC-TC account.

4. He berates me because NYAN owns shares of BMF:
"It's doubly stupid when you consider that some of the other assets actually own shares in BMF" (ibid)

Response: I don't see a problem with this. In fact, DMS (Deprived's new issue) owns shares of LTC-ATF.B1. Looks fine to me.

5. Deprived claims I previously manipulated investors of my companies (and therefore I will do it again).
"...he did it before - manipulating share price up so as to justify (off-market) sales of his own shares by his own companies (in the process reducing the real value for all other investors AND destroying a contractual obligation..."
https://bitcointalk.org/index.php?topic=226650.msg2405911#msg2405911
"BMF had already been screwed to try to help CPA" (etc.)
https://bitcointalk.org/index.php?topic=226650.msg2407113#msg2407113

Response: The claims that I was manipulating share prices have been conclusively proven false by an investigation performed by BCB. Deprived agreed to give ALL evidence he had to BCB. After an extensive review which included me giving Theymos permission for BCB to undelete as many of my posts as he wanted, BCB and I had a chat on IRC where BCB stated in so many words that I am not a scammer, and that Deprived was likely part of an organized campaign to defame me. He then dropped the case after withdrawing that charge. In short anything Deprived says about how I misled, misrepresented, scammed, etc. anyone from when I was on GLBSE is a blatant lie. (That is also why I am mainly sticking to things he has said just this June, but he did say the above on June 7th. So be it.)

6. Deprived claims I am avoiding paying out on NYAN.A with the assets I have on hand.
"The BitVPS belong to Nyan not BMF. If he's saying all BMF has left is cash then there's absolutely no reason why he couldn't liquidate - or at least buy back the shares held by Nyan/CPA with their portion of that cash. To NOT do so is unnecessarily adding delay to paying Nyan off. He's just stated BMF has no assets of significance left - so the only thing stopping him paying out Nyan is his own attempt to use the threat of delayed/non-payment as a crude tool to try to bludgeon moderators into voting yes."
https://bitcointalk.org/index.php?topic=226650.msg2406732#msg2406732

Response: The problem is I only have $10,000 but I have promised to bail out the investors for $100,000. Now, besides the fact that I am a really nice guy for saying I was going to do that, and Deprived is being a jerk for chastising me over not paying it immediately, the simple fact is that running my companies again and making money with them (which is why people run companies) is the cornerstone of the plan I have to pay back investors in NYAN and CPA. I am NOT "un-neccessarily adding delay to paying NYAN off". I am being extremely careful and wise with the resources I have left. If you notice, I have successfully gone after Brendio and gotten our BIB.BVPS shares back (Brendio was cordial). Next we went after Ian Bakewell and I can't talk about the proceedings but I am in fact involved. I started the thread for it too, go check. I obviously can't discuss who we are going after next or what information I have. But to state that I am avoiding paying people back is ludicrous. CPA just settled a 1100+ pirate contract and I am in active negotiations with several shareholders of NYAN and other companies. It is what it is, but it is not me avoiding paying any debts. I already sold $3,000 of my own personal gold and silver, my gibson guitar, etc. to help pay people off. To state I am avoiding paying people is really dumb. Sorry for saying that but Deprived really makes me mad with his lies.

7. He claims I abandoned NYAN/NYAN didn't do it's job/I essentially stole from Nyan/etc.
"Nyan sold its holdings of Nyan.A/B/C in off the market transactions then gave the cash back to CPA in return for cancellation of the shares in it. In one fell swoop usagi totally removed a protection that Nyan.A and Nyan.B were contractually entitled to - to try to bail out CPA."
"Removing those assets - that were contractually supposed to protect Nyan.A/B - is little short of outright theft."
https://bitcointalk.org/index.php?topic=226650.0

Response: Wat? NYAN still owns about 160 shares of BMF and 80 shares of NYAN.A (and NYAN.A is basically made up of 2000+ BMF shares and 30,000 BITVPS shares plus associated debts). So NYAN is another great example of why BMF needs to be unwound first.
NYAN didn't sell anything, I don't know why Deprived is saying that. I didn't steal anything, don't know why he is lying about that either. Deprived is also clueless as to the relationship of NYAN and CPA. Contractually CPA insured NYAN, not the other way around. NYAN has gone nowhere since the crash. It's still there. It will be unwound along with NYAN.A and everything else once I get BMF back on it's feet. I have no clue why Deprived is babbling about NYAN.

8. He claims I am attempting to facilitate insider trading by charging people for access to BMF's books.
"Quote from: usagi on June 08, 2013, 01:18:10 PM
5. We publish our spreadsheets. You must request access, and you may not publish or distribute the information to any other party.
This has two problems:
1. It directly faciliates insider-trading. There will be a privileged (to the extent anyone sending BTC to usagi can be considered privileged) class of investors able to see accurate information on the state of the fund - and use it to trade with an advantage on the market.
2, It creates an asymmetry of information. If someone selling shares has access to the financical information then anyone without such information who wants to buy is forced into acting based on a much lower level of information/knowledge. That means that they are forced to compete on the market and enter into trades at an unfair disadvantage."

Response: Deprived misread point 5, as I am not charging anyone. He then attempted to state what he "really meant" Roll Eyes

"he believes I'm accusing him of charging people to see his books. I'm not."
https://bitcointalk.org/index.php?topic=226650.msg2416619#msg2416619
I had to point to him several times that point 5 is not limited to shareholders.
But beyond this, no, it does not create two classes of investors, facilitate insider trading, or any else of his ridiculous claims.
In fact, Deprived is on record stating that significant shareholders of LTC-ATF can ask to see it's books (although this may have been a lie; as a 12% shareholder he refused to show me his books).

And what's even more unbelievable is that he states in this message:
"The contract listed in BMF is not the one currently active - NOR is it the one he intends to have. He has posted asking for advice on what should be in the contract - i.e. he wants approval before he's even ready to determine what the contract is. So you're being asked to approve something that isn't even defined."
Yet in the post above this one he quotes the new contract for BMF which is listed on BTC-TC (html and all!) Is that nuts or wat?

9. Deprived claims I lied about providing liquidity to TU.SILVER/My advice to Tu.SILVER investors is to guess what the price is
"His advice to investors, BTW, is just to guess what the price is - put up an order and if he likes it he'll fill it. ... he long since gave up the pretence that he was going to provide visible liquidity..."
https://bitcointalk.org/index.php?topic=226650.msg2563958#msg2563958

Response: This is extremely disingenuous given my advice to investors in the TU.SILVER reports, archived here. It is clear that Deprived cannot read, because according to these reports not only do we publish (mostly) IFSA-compliant financial reports and give management guidance, we also advise investors to do due dilligence when investing in TU.SILVER and explain several possible scenarios. Just for example? Page 4 here. Just for example. That's from February, too. Is Deprived insane, or just trolling? I do not know. I know this. He states this about his own security DMS:
"1. Work out a range within which they believe the correct valuation for each lies. That means taking best and worse-scenarios... 2. You then need to consider what alternative investments exist that offer returns you can rely on... 3. You can then work out the zones above and below which investment makes sense. ..."
https://bitcointalk.org/index.php?topic=228327.msg2547675#msg2547675

This does not sound different at all from why I have said. I do not like hypocrites like Deprived.

Regarding liquidity, this and this (a quote from deprived!!!") "The reason for ANY change in the price of MINING/SELLING (other than a reduction because of a dividend being paid) is that the market (i.e. everyone investing collectively) has decided that the previous price was wrong." And this:

Quote from: Deprived on June 06, 2013, 02:00:48 AM

LTC-ATF is undoubtedly the better investment if you can buy it at a reasonable price - and therein lies your problem : noone wants to sell LTC-ATF at a reasonable price.

So we see Deprived understands market forces and liquidity very well, why is he attacking me over the same issues LTC-ATF, his own fund, is experiencing? There is no difference between TU.SILVER, DMS, BMF and LTC-ATF here. No asset issuer can control what people set their bids and asks for. All we can do as issuers is our best. TU.SILVER is a great example. We have over 20 people holding over 1100 outstanding shares and none of them wants to place an ask less than 2x NAV. That is not my fault. That is a sign that I am doing an exceedingly good job. Why is Deprived attacking me over that point when he has the same problem himself with LTC-ATF? Is he stupid?

Nevermind the repeated number of times I have published in the TU.SILVER reports that people with large sale orders should contact me so I can fortify the bid. Mind that Deprived understands that you can't force people to pay a low or high price, and spouts this fact to anyone who will listen (such as this poor sap) when it suits him, yet, he will turn around and use the anti-logic to condemn me for manipulating the price of my securities. I will say it again: I do not like hypocrites.

10. He claims I'm stealing from my companies
"Buy-backs (likely undisclosed) to drain cash (if you ever get any) to your other companies/yourself." (etc.)
https://bitcointalk.org/index.php?topic=226650.msg2574325#msg2574325

It's a little ridiculous for Deprived to misread "..personal account..me..I.." as myself using company funds to buy back units at an inflated price, but what's really unbelievable is that doing so will somehow transfer(drain) money to myself. So let me get this straight. Using my personal funds to buy shares in TU.SILVER from people at above market prices, is somehow transferring company funds to myself. This guy is a lunatic.

11. He claims I attempt to mislead investors by stating BMF is the top performing mining stock.
"Historically he's always claimed that BMF outperformed ALL mining stocks."
"He still continues to compare BMF to just about anyhting other than other funds. At present he's trying to compare it to PMBs, bonds etc - but not a single fund. Where are the meaningful comparisons - to things like BTCInvest or LTC-ATF?"
https://bitcointalk.org/index.php?topic=226650.msg2583755#msg2583755

The problem is, I didn't say stock, I said fund. See the FAQ. No, BMF was not the best share issue of all time, that is ridiculous and it is not what I said. Deprived knows this and is misquoting me to make me look bad. Read the FAQ (and the original quote in the OP) for yourself. Furthermore, regarding mining bonds, which is the historical comparison I make, it is very clear that BMF performed better than the PMBs from GLBSE and that it has performed better than them both recently and on a long term basis. GIGAMINING and YABMC being the classic examples. When Deprived posted this, he was fully aware of this chart, which he had deleted it from his moderated thread. He then made the above post. Unbelievable.

12. He claims it is difficult or impossible to determine how many outstanding shares exist for BMF.

Quote from: Deprived on July 06, 2013, 11:16:37 AM

It's now next to impossible to work out how many hsares of BMF are outstanding...the issuing account holds assets of Nyan/CPA as well as those of BMF...Usagi placed shares up for sale (and sold some) but it's impossible to tell whether they were new shares sold or ones that previously belonged to Nyan/CPA...I'll be making a request for trading to be halted if the outstanding shares issue isn't sorted - it's just not acceptable for something to run where there's no visibility of how many shares are outstanding.

The issue of how many shares are outstanding is an exceedingly simple one. The total number of shares is listed on our public disclosure page. This information is contained in our FAQ, so it is inexcusable for Deprived to pretend there is any issue whatsoever regarding the number of outstanding shares.

He makes a number of other claims in this post, such as "the issuing account holds assets of Nyan/CPA as well as those of BMF". This is a favorite tactic of Deprived, yet we know he is lying because he is aware the final claims thread (and similar threads). For example, he is aware of the disclosure of assets via his participation in the NYAN liquidation auction. He has also been made fully aware that the assets of BMF have been moved to the usagiBMF account while the assets of NYAN/etc. are in a different account. So this is not merely a mistake -- he is deliberately lying in order to defame me.

He's right on one thing though -- I placed shares up for sale, and sold some, and that it is impossible to tell whether they were new shares or sold ones that previously pelonged to Nyan/CPA. Let us all take a moment to thank Deprived, aka Dr. Obvious. Of course you don't know who is putting shares up for sale or who they belong to. Only I know that information because only I have access to the list of investors (and burnside I suppose). You can probably glean from the total number of outstanding shares listed whether or not the company has sold any (and it has, maybe 860 shares, not sure) -- but beyond that this information is confidential or I suppose BTC-TC would e-mail a list of shareholders to every investor. Unfortunately for Deprived this simply isn't an issue. Don't you wish he would just go away and stop making a fool of himself? Request to halt trading on BMF? Don't make me laugh, after the last 12 lies he told about me and BMF, he has less than zero credibility, it's actually gone negative.

Quoting the lot so we can see what gets changed/deleted/back-pedalled on.