Are these bonds numbered and prioritized? How do you know where you sit in the queue? If you have a high priority share and trade it, does it move to the back of the line? What's the point of even allowing shares to transfer hands if they suddenly become worth nothing?
The Notes are not numbered, prioritized, and holders arent in a queue, since this wasnt something I was able to set up back in 2012. Ive put more of a priority on repurchases for the longest holders (November / December 2012 for the most part
theyre the ones who literally got us started), but this was my own decision.
I don't know what to say Norman except that I'm not sure you understand what constitutes a contractual bond issue. If this wasn't the wild west of bitcoin investing, Korbman would have long ago had to settle his obligations, in court, as a debt default.
This is precisely what would have happened, and what I was originally prepared to do, though thankfully there was some agreement when it came to looking for an alternative solution.
Based on what Ive read so far, there seems to be some agreement on what needs to be done next. Ill write a formal update over the next few days and we can put it to a vote.