Please don't lie. You were one of my first investors and I've been very available to you on IRC for over 2 years. I offered to settle with you in private after the events of GLBSE and BTC-TC but you were unable to get a hold of smickles who had disappeared with the access codes for your shares.
smickles is a full time Dad and still found time to resolve the issue. Sure there were issues involved, but his books were sound. Sure I got a little frustrated, but he still did his job, and is a good friend. But one thing he never did: lose my money.
At the end of the day his books indicate 3.41 of 21 btc invested was liquidated out of NYAN.A. This is an 83% loss in value. 100% of the BTC on smickle's books owed to me were paid in full. He made his books available to me, even offered to transfer his ASCII files into spreadsheets. For you it's more sporadic IRC conversations when you feel like talking. I had to seek you out in the Bitfunder channel in order to start a conversation.
It was insured by CPA. CPA died because we were ripped off by Ian Bakewell, BitcoinOZ, AmazingRando, EskimoBob, etc. -- so not only did CPA go to zero, NYAN.A ended up going to zero as well.
So your underwriting practices cost you money? Do you not have underwriters and actuaries to assess and manage risk? Why were CPA's insurance contracts backed by debt and assets rather than liquid capital?
Insurance ALWAYS needs adequate collateral to payout the contract in case of a claim, otherwise it's just a promise and not a contract.
Bitcoin has the added liability that there is no "bankruptcy" to quote BingoBoingo (a successful fund manager):
There really isn't anything analogous to bankruptcy or default in Bitcoin. What this mean is that failures in which you lose other people's Bitcoins are scams. If someone swipes an overfunded hot wallet you've been keeping on a server and can't pay out balances to your customers, I am sorry for your loss but you are a scammer. You had some fancy cold storage system where you kept coins offline and never tested restoring those coins from a backup, and can't pay your obligations? Still a scammer.
From:
http://www.thedrinkingrecord.com/2014/01/01/how-silicon-valley-could-learn-to-bitcoin-part-2/So at the end of the day you scammed NYAN.A holders. You should have never over extended yourself and made a contractual obligation to insure the shares' value.
I think we both know what you want me to do here. You want me to pay you back out of my own pocket. I'll tell you straight out it will never happen unless we get paid by one of the people who owes us money, and that is unlikely to happen for at least another couple of years. That is just how this works. So please cut the "what the actual fuck" bullshit sob story. You lost a lot of money with a LOT of OTHER investments, and the only reason you are whining about NYAN is because I stuck around and I tried to continue operations SO THAT YOU COULD GET PAID.
You are THE ONLY one to lose me money. You are the "LOT of OTHER investments." But really it was me who lost my own money by making the decision to invest in you. But as a wise person said, "n00bs pay for their lessons".
Sure you want to do the right thing, but given your recent derping, is it even beneficial for you to pay back your early investors if it means losing future investors money? This seems to be the pattern.
thestringpuller:;;later tell bitcoinpete the saddest thing about Usagi is desptie early investors like myself warning others, people still invest money in his money loss machine...
Your earliest investors (like myself) lost money. To say otherwise would be me lying. I cannot truthfully say, "usagi's ventures have made me a profit." Your venture is the only item in my portfolio still in the red. So how am I lying?
Once all investors are made whole (however long that takes), then it won't be the case.
Why are you being such a jerk suddenly and pretending I haven't been working with you and for you and keeping you informed all this time? Could you apologize please?
Could you take ownership of your mistakes? And why do you continue to make ridiculous mistakes when you've had ample failure to learn from the past?