Post
Topic
Board Securities
Re: [BTC-TC] Deprived Mining Speculation (DMS)
by
stripykitteh
on 13/09/2014, 11:06:26 UTC
Anyone make any progress in tracking down Deprived or uncovering his rl identity?

I think this is no more relevant, as the ciphermine bond is officially worth nothing:

https://bitcointalk.org/index.php?topic=286634.msg8732682#msg8732682

And DMS holdings consist of 70% (?) ciphermine bonds, though even if Deprived shows up again it wouldn't matter much...

Without trying to sugarcoat this, it's still too early to say it is officially worthless. In my opinion Kate and potentially the other founders and operators of Ciphermine are personally liable to redeem the bond. If I'm right, the only way the bond is not repaid in full is if they all go bankrupt.

I've reported Kate to the FCA in the UK. I believe others intend to do the same. All I can suggest at the moment is to wait and see how things develop.

My recollection is that DMS's share of the bonds was about 250 BTC, and the remaining value of the fund was 150 BTC in cash.