Quote from: OgNasty on July 21, 2014, 05:43:09 AM

2. Here are some recent comments I made on the debt situation:

Quote from: OgNasty on December 23, 2013, 07:49:19 PM

The fact is that our debt has increased far faster than I had imagined at the time. However, I structured our debt so that this would never be a killer of the operation. In the loan it says that 25% of our mined income will go to debt.... The debt we hold is the best debt you can have in the world. It is 0% debt with no timely required payments. Basically, if we wanted, we could take 100 years to pay back this debt and it would be perfectly within our agreement. That being said, I am the last lender to be repaid and do have a personal interest in this debt being repaid while I am still alive.

3. Servicing the debt is easy, as mentioned above. This debt will never crush the organization or bring it to a standstill. However, without some concessions by the debt holders, this debt will take an extremely long time to repay. In order to turn this into a positive thing, I have discussed with nonnakip, a plan to allow for a debt market. This will allow debt to be traded back and forth, which will enable original debt holders to sell and receive BTC as well as allowing others to purchase debt, perhaps at a discount, to be made whole later.

I would also like to add that I am the largest single debt holder, and I would be open to reducing the BTC amount owed if an agreement could be reached with all debt holders across the board.

Do you plan on taking out more loans in the future? Saying you can take 100 years to pay back, or saying you will have to ask the debt holders to "make some concessions" seems kind of counterproductive. If NastyMining will need to purchase the next gen miners you would think these kinds of statements (however true) will sour some on the idea.

I suppose more information on this debt market would be interesting to read. But in the end if the person who loaned NastyMining 20 BTC doesn't get back their initial investment of 20 BTC, I can't imagine future loans will be so easy to receive.

Bronstad

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