Here is an old message. Graeme admits he gambled with creditors coins by buying some unregulated securities.

Jerrod will convert $30,000 to bitcoin and payout. He will divide 30k for 32.5 million shares. One share gets $0.0009 or 0.00000260 bitcoin. You will get 0.35BTC. Jerrod took all 1700BTC and $30,000 is leftover from one of his accounts.

He is either stole it all or someone else stole it. We can guess, because Jerrod refuses to tell what happened. The transparency he promised is bullshit, he hasn't given any info about the operation. I hope you can get something from this criminal.

Haven't you read what Jerrod told? He said many times there is only 30k usd, all of the rotating inventory of 1700BTC is gone. Nothing is left.

You can go right ahead and sue him. Jerrod told many times already there are no bitcoins left. All the 1700BTC were scammed by him long time ago. Probably over a year ago.

Does anyone have dividend history from the beginning of this operation? How much he paid out total dividends? I'm sure it's a lot less than 1700BTC. That is the proof he scammed us.

You sold at least of 1700BTC of inventory. Are you saying you sold them for about 20 dollar a bitcoin?

Let's assume you sold them at the time when your business stopped. It's was in October/November. It must be 200-500 dollar a bitcoin. It's $300k. Why did you sell all bitcoins for so cheap?

We all know you scammed people. If anyone still believes Jerrod is honest, you're stupid. He stole all BTC or sold them very cheap to himself. The only way is to report and sue him.

1000th bitcoin, or 40 blocks of 25BTC? Total 1000 bitcoins?

You are a scammer too. Graet will ignore all of your requests and demands. When people gave you bitcoins they didn't have any kind of written agreement with you. Legally they can't demand anything from you. You know this very well.

You didn't have any written agreement with Graet either. His forums posts mean nothing, so you can't do anything. Graet might pay other creditors a little bit, probably very little only because he doesn't want to lose his face completely. But you're a scammer, so you're last on his list.

According to my sources no one will ever receive any adequate compensation.

Graet is almost broke. His promises are just words.

9 month ago he said he would repay bulk of the loan by mid 2014. Now he promised 20BTC to all of us, which is pathetic. By the way, he still didn't pay those 20BTC. 20BTC is 1% of 2000BTC. According to my sources Graet bought back about 7000 of his shares, which is 70BTC. So he still owes 1930BTC.

I know how much his "btc businesses" make. It's very little. If you sue him, you get almost nothing after all legal fees.

Write this off, he is really a degenerate just like Justin00 says.

According to my sources in summer 2013 Graet had BTC securities worth at least 1000BTC. Almost all of them were scams and he waited until October or Novermber when it was too late sell them.

Graet himself admits his garbage portfolio lost 500BTC value in October. In summer his garbage portfolio was worth much more.

I'm not going to list what he had and how much. I can say I verified some of the data my sources gave me. It all was correct.

We can hope for very little compensations. Suing will give even less, because according to my sources he's almost broke.

I say this once again. Graet is the director of Weex Australia. Ukyo and Graet made together the Weex. I'm sure Ukyo can give the data of specific users to Graet if he requests it. All the customer data from both Bitfunder and Weex is backed up to Ukyo's back-up servers, I know that for sure.

One is e-mail. If not, then prove that you still has access to your BitFunder and Weex accounts. All the account data, account names, passwords and 2-factor from both is in hands of Ukyo and Graet, who is the director on Australian Weex.

So don't give me this bullshit. Graet has access to all the data. Graet either doesn't give a shit or is just too lazy to verify account data.

What about if someone has set wrong address on bitfunder and is now on vacation? Graet doesn't care about that? I thought a honorable man would do it the other way. He would wait for confirmation of the address from all creditors.

But Graet doesn't care, he will then blame his creditors if it happens.

What is your plan? To hire a US based lawyer?

The price went up from 100 too 1000 in more than two month. If he sold all 1700 BTC at once for $100 he sent all those money right away to bitstamp. According to Jerrod it takes about a week to get money to the exchange. During one week the price went up maybe 20%, so he must have bought back 80% of 1700BTC.

If you repeat this process during increase many many times you lose eventually almost everything. But that would be the most idiotic thing to do. Anyone with any sense would stop after one losing round. Jerrod is telling us he is that idiotic. It's a strategy to play dumb so we let it be.

What Jerrod tells us is the same thing as if you would rent a car to a guy and he would drive taxi and pay you dividends. The cars would be yours. But the guy would sell your car for 10% of original price and pays you the dividends from these money for a couple of month. When taxi business goes really bad you want to take your car back but the guy tells you he sold it and paid what he got saying it was dividends. So you lost everything, no car, no money, only a bit dividends.

Can Jerrod tell us where we told him to sell all the circulating inventory for really cheap price?

No it wasn't. It was never lucrative. It was lucrative on paper and on assumptions the hash rate growth would be slow during the fall of 2013. Every bad investment looks good at some point especially if you believe unfounded promises and calculations. The way hash rate increased during those months only the best case scenario would make it barely profitable. So if they started hashing in November as promised, it would barely make profit.


All of the losses in this case are because DeadTerra gave the money we paid to him to people he didn't know. It was out his hands and out his control. When you get millions of other people's money you have to be very careful with them. If it's out of your control and you trust someone else to do something for you, you have to know and trust those people. You have to go through their plan, all the details and goals. If something is not done right or delayed, you make sure with correct legal work you get reimbursed very quickly.

If for whatever reason he couldn't make a good legal deal or didn't know those people very well, he must have put a stop to the whole operation and return everything. That's what an honorable man should do. When you take other people's money be very careful what you do with them.

He didn't. He trusted those people whom he barely knew with 24,000BTC. At that time it was over 2.5 million dollars and that was enough to produce own ASIC, including design, wafers and chips. 2.5 million dollar was enough to produce own ASIC on 65nm.

I thought DeadTerra learned from previous mistakes and knew what he was doing so I invested 5BTC. Turned out he is still an idiot. I started worrying when he defended his unrealistic calculations in September and October but still hanged hoping they would deliver. Now I know it was a mistake to trust him with my bitcoins.

HF has very little remaining assets. We'll get pennies of dollar per share. Once again DeadTerra trusted investors' funds to people he didn't know. They turned out to be scammers or completely incompetent, what a surprize!

Last time AsicMiner saved his ass and he paid out a bit over initial investment in his Gamma Fund. This time it's a total failure. Why are we so stupid that we trust these idiots?

Everyone who have losses in this scam operation should put negative trust to criminal Ascension. He took over 1 million of dollars from us.

I didn't suggest you keep all funds in bitcoins. I said you keep a constant amount of bitcoins in addition to FIAT. You are proving my point again. No one who runs arbitrage business is that retarded.


Liar.


Hard work and time and success. Can you believe this? He took our bitcoins in his scam operation and called it success. It was a success to you, not to your investors. We lost almost all bitcoins we gave you.


You took almost 2400BTC from investors. 300BTC to pay back a personal loan. 375BTC for "the hard work". The rest is 1700BTC is inventory that was supposed to be rotated. Of course you had to convert some part to FIAT to keep at exchange to buy bitcoins the moment they were sold. But the price was quite stable for few month and total inventory could be again 1700BTC after some time.

Don't act like this "proposal" is something really new and you could never understand it. It's all very simple. Bitcoins get more expensive. You lose everything eventually without keeping constant amount of bitcoins. Stop saying it couldn't work like this. You can make arbitrage business run with 10 bucks. So stop all these lies.

You took 300+375BTC for "work" of scamming us. You stole then all of 1700BTC of rotating inventory. Just give it back, you don't deserve a cent.

He is a scammer. Why did the problems happened exactly during the last peak? It was his plan from the beginning to steal all bitcoins during the peak and blame it all on slow banking.

In the end he planned to act stupid. Almost every scammer tries to play incompetence card. Then people are angry, but not as angry if it's simple theft.

The way Jerrod tells us his business supposedly worked is a sure way to lose all the capital. He's not that stupid.