Quote from: chopsbit on April 30, 2014, 04:20:54 PM

I have to say I have nothing against the 5% management fee, it obviously took time and effort to organise these purchases so 5% is fair enough (6 neptunes with a 10K$ refund = 3K$ management payment for waldohoover).

What I disagree with is the refunds are being issued from KNC in $, however the refunds to the shareholders are in the original BTC amount. The poll said the refund from KNC would be converted to BTC then distributed to shareholders, that is not what has happened here.

It was obviously a risk trusting a random stranger with our Bitcoins, and with the lack of comms from waldohoover this will probably go down as a lesson learned for us all. Sucks I know, but unless waldohoover is planning on sending extra bitcoins out in the future when the refunds from KNC are received, this user and the site coiningsolutions.com look like being one to remember for future and avoid.

I agree with chopsbit; I'm fine with the 5%. I'm just curious about why Waldo unilaterally chose to deviate from the refund method he originally posted - particularly in a way that benefits him hugely. (And yes, I know that with the original method we'd have taken a hit on the BTC-denominated refund if the price of BTC had doubled instead of halved. I'd have been fine with that outcome too. I knew that risk and accounted for it when I purchased my shares.)

If we don't get a reasonable explanation soon, our only recourse would be to leave negative trust feedback for Waldo. I don't want to do that, as until now he has been an upstanding guy. But with no communication, I'm not sure there's an alternative.