Quote from: pmorici on September 15, 2014, 07:15:31 PM

Quote from: bitndx on September 15, 2014, 06:53:52 PM

Quote from: pmorici on September 15, 2014, 05:21:09 PM

Quote from: GalaxyASIC on September 15, 2014, 04:42:17 PM

What was the big idea behind killing the liquidbits deal?

The main problem was that it was they weren't offering to pay cash. They wanted to pay a very small amount to a select few companies to get their hands on the chips and then if they decided to build a mine and after they got their investment back they would maybe pay up to 6 million dollars back to creditors. So the likely outcome for customer creditors was that we would have ended up with $0. If you have a choice between keeping something that is worth a few million and declining in value so you could look for another buyer or $0 for it right now which would you take?

weird that there wasn't a back and forth where some cash might have come forward..."this deal or no deal". Especially since there wasn't anything waiting in the wings.

where are the new ideas to use the declining value chips? Is there an email address for the CRO to send some ideas too because it sure seems like there are none?

There were negotiations in the sense that Liquidbits negotiated with Hashfast (ie: Monica, Simon, etc...). It's just that Hashfast's idea of a "good" deal and the creditor's were different and they didn't include the creditors in meaningful negotiation. Now that the CRO is in control he is much more likely to negotiate a deal for the creditors that the bankruptcy judge will actually approve. I posted the CRO's contact email back a few pages in this thread.

Didn't they give PRIORITY mining to the Creditors? Weren't they giving up their claim of circa $6million? Didn't they propose to pay $2million dollars upfront? That's what I read from the proposition. That's what I understood from the Q&A on this forum. More would have been given back to creditors than what we are all entitled to hope now.

But why bother? LQB was interested only up to a certain point. They put a deadline, which is understandable with the growth of the network. It was declined. The Judge seems to have disliked the structure of the proposal saying that it was not a purchase but a re-structuration, inadequate under the terms of a bankruptcy. IT'S OVER! LQB, which was by far the best proposition we ever had, was not acceptable to the creditor's council... ok. Let's MOVE ON. WHAT DO WE HAVE TODAY? I keep asking this question. It seems there is REALLY nothing else. How can that be better? With the time this is all taking, those that had an ongoing mine and sit on the council are happy it didn't happen, and the CRO is less and less likely to obtain any value from the sales. Look at what the competition is doing!