Quote from: SebastianJu on July 12, 2014, 01:29:53 PM

Quote from: NotLambchop on July 11, 2014, 09:47:12 PM

So you compare me to someone that found a hyip the first time. Roll Eyes

I guess your world is just black and white.

Quote from: mgio on July 11, 2014, 10:51:42 PM

Ukyo has made a lot of promises. I've talked to him here and there about his plans for the ukyo.loan funds.

Like others, he has told me he is working on a big project but I know even less about it that other posters here seem to.

He has said he would be posting here soon with a status update. I can understand why he avoids these boards, but we, as creditors, need something.

The big question is how long are we willing to wait?

At some point his biggest creditors are going to sue him forcing him to pay up what he can and declare bankruptcy to get rid of the rest.

I hope it doesn't come to that, but it really is a question of how patient are we willing to be.

Does ukyo really have a big project that will enable him to pay off the debt by the end of the year (as he has claimed) or is he simply living off of all our bitcoins?

Personally, I think we deserve more information from him. I have had an awful hard time contacting him recently and have a lawyer on retainer if it seems like he has abandoned us. I am trying to give him the benefit of the doubt but I am about to start the legal process in the meantime as he his lack of communication is leaving me no other choice.

FWIW, ukyo owes me >250 btc presently. I might be his biggest creditor. I'm not entirely sure.

Ukyo loan and weex are two different things. Sueing for ukyo loan would be pretty easy because you would need to sue him personally and you would be successfull most probably. The question would be the outcome of it. Chances are you win but get practically nothing.

A different thing is weex. I hope no one tries to sue weex now. Besides the slim chances of winning and getting something back... if the bankruptcy of weex company really means my chances to get my original coins back vanish... im not sure what i do with this "smart person". Of course all on the assumption ukyo told the truth. The problem seems to be... once we know what happened... either the coins are back or the coins cant never be retrieved. And the chances for the original coins look not so bad... only time is needed.

I didnt lose as much coins as you but like i wrote, i once let my lawyer sent him and graet a letter demanding informations. After that i got some longer talks on irc so i at least could get a feeling about what happens.

Quote from: thy on July 12, 2014, 01:03:32 PM

Well i guess rules is different in different countrys, if he had lived in some countrys he would have ended up having to pay for the rest of his life if he had depts he couldent pay. Around a million usd isent that mush, many people can get loans for such amount with or without security in many countrys around the world, i dont know exactly how ukyos econimical situation is, maby hes not in the possition to get such relatively large loan. and the family part that was just mean as they could go in and help securing his loan if the bank wouldent allow him a big enouth loan without extra security in the form of people that would be legally bound to cover up for him if he cant fully pay the loan to the bank back alone.

At least in my country the banks are very very cautious if they would get their money back. They would never give out a million usd without giving security in exchange. So the family would have to risk their houses or similar things. I never could imagine that someone would do this without pressure. If one gets indebted then its his fault and he has to take responsibility. Especially its not a problem when you can go bankrupt personally. Then the family would be plain stupid to put money into it.

For many young people for example it can be problematic to get a loan for buying there first house or appartment, its very common here in Sweden that parents have to step in as security on a loan there kids take to get there house when we talk about slightly larger loans in a few hundred thoused to a few million usd equivalent, the banks may not accept just the house and the incomes from the younger person as security as houseprices can go down and future incomes may be uncertain.
On the other hand people can get big loans in blanco or at the very least with for example a house as security if they have a long and good credit record and have incomes that is good, maby its due to better pay back rates and the fact that its easier for banks to garantee that they get there money back here one way or another if something would go wrong, as people cant just declaire bancrupcy and think they can walk away from there depts here, it may be possible under very extreme conditions nowadays to do so after many years if its totally impossible for the person to work there dept down, but it wasent that long ago that it was impossible for someone to even go that route and have depts written down in such way.