Post
Topic
Board Lending
Re: CoinLenders Script :: Bitcoin Bank (Borrow+Deposit) Software :: Demo Available
by
crazyhorse
on 16/11/2013, 21:57:52 UTC
Update

The situation is I'm facing extreme difficulties in getting most borrowers to honor their obligations - the BTC rally doesn't help. To name a few that have been impossible to reach (when talking about their debt):

https://bitcointalk.org/index.php?action=profile;u=70557
https://bitcointalk.org/index.php?action=profile;u=17548
https://bitcointalk.org/index.php?action=profile;u=70541
https://bitcointalk.org/index.php?action=profile;u=35121

(Borrowers can deposit to CL via BTC address).

Many security issuers like CreativeX have gone missing, but thankfully in the past days Deprived and arij came back, and Crypto-Trade divs have been successfully paid on their own exchange. ASICMINER isn't doing well which is the collateral for many (defaulted) loans.

The reason why there's no email update is that I'm primarily waiting for other people that are not responsive, which results in having to pass on the non-responsiveness. All of CL's liquid coins were stored on Inputs and what's remaining are debts and assets that took a significant wipe (we still have borrowers that are communicative, thank you!, but the BTC rally is definitely hurting them and us, especially modification proposals).

That's not a good enough reason for not sending an update. Send an update with the information you do have. Here's a good start:
  • Total amount owed to CL depositors (including all interest)
  • Total amount of CL money that was in inputs.io
  • Total amount owed to CL by borrowers. Then break it down by how much is late, how much is due within 30 days, 90 days, 180 days, 360 days, etc.
  • How much has been paid back to CL depositors since the hack was announced
  • The date when partial payments will start being made

You seriously need to get a 3rd party involved. Turn over all your documentation so that all the above info is public and verified by someone other than you.