[ANN] Helium - LocalBitcoins.com Exchange Asset!



  • Hey guys,
    I have been thinking about this for a few days now, and though I would raise the point here.
    I think it may be a good idea to buy the shares back rather than to pay it as a dividend at the end, that way I will have all of the shares and we can forget about it. I will buy them back at around 8-9 burst per share because by then I will have done 5,000,000 burst worth of dividends. It just depends on how much you bought them for in the first place.
    Let me know what you guys think. It doesn't really make a difference to what I originally posted. Although I also think it will be best if I pay back at the price that they were bought because since the recent price spike of Burstcoin it is already becoming difficult to pay it back.
    Cheers,

    • Christian


  • @cjellis245 I would be happy to see this closed and at this stage but 8-9 is way too low we have paid 15 - 20 for the shares

    However do not do it the way Luke is with Energizer, he is just buying back small amounts of shares at a time and this is making for a battle to be the lowest priced Sell amongst people wanting to get their Burst back.

    Alternatively you might want to speak to Mr Whale as he holds 98% of the Asset. If he was agreeable you might be better to strike a separate deal with him then you could put up a Buy at something between 15 & 20 for the other 11 Shareholders as they only hold 20,906 shares?

    Rich



  • @cjellis245
    If we do not agree with this decision, would it change the situation?

    But in my opinion, it is better to get this issue resolved as early as possible. Because it becomes clear that it's only getting worse.



  • @cjellis245
    It's simple - the smaller the loss incurred by investors, the higher will be your reputation.



  • @cjellis245 OK here's some simple Round Number maths to show where we are.

    160,000 Shares sold at 20 Burst
    51,000 Shares sold at 15 Burst
    330,000 Shares dumped at 13 Burst

    1 Million Shares Sold
    15 Million Burst Raised.

    Average selling price of shares just over 15 Burst
    Special Dividends paid = 2 Burst / Share
    So I would propose that, for a simple solution, Shares are bought back at 13 Burst / Share.

    However I would also remind @cjellis245 said in [ANN] Helium - LocalBitcoins.com Exchange Asset!:

    If any problems do arise, I will pay back all of my shareholder and buy back all my shares, FOR THE PRICE THEY WERE SOLD TO YOU.

    Nothing more, nothing less.

    (If it were to happen you would have to send me your Asset Order ID so I can verify how much you bought and for how much, and that it was you making the order)

    Which is the solution I would prefer as the Bulk of the Shares at 15 & 13 were bought by the Whale, so the smaller Shareholders would be better off / more fairly treated.

    Anything less than the above is unacceptable.

    Rich



  • @RichBC
    I think your wishes will not change the situation. As I understand it, he is because of his inexperience, transferred all funds into his Bank accounts and bitcoins.

    I was looking at the his profile of the Localbitcoins - trade practically stopped. Why is this happening - I don't know. Maybe it happened due to the fact that he got a bad reputation there (Trusted by 5 people, Blocked by 2 people). But if he ceased to trade, then he can not return the funds investors, because the price Burst increased significantly.



  • @cjellis245 how much is the current roi of the asset? Weekly monthly or yearly will do.



  • @emcb said in [ANN] Helium - LocalBitcoins.com Exchange Asset!:

    @RichBC
    I think your wishes will not change the situation. As I understand it, he is because of his inexperience, transferred all funds into his Bank accounts and bitcoins.

    Well he can jolly well transfer them back again. He is offering to refund the Money and I see now reason why he will not do so?

    Either way let's see what @cjellis245 has to say?

    Rich



  • @RichBC The thing is though, even after all the profit I have been making it still will not be enough to pay back at that price simply due to the ridiculous price rise in Burstcoin. I would be paying 5+ milllion burst more than I originally received.
    I think I will just keep working hard making money, and maybe invest in a few things to help out (I will check with my investors first of course)
    This may mean that I will have to extend the payouts a few more weeks.
    And as for your most recent post, I will most certainly be paying you back. Just it may take longer than I thought/planned.

    @emcb If you do not agree with the decision, we will work something out. In the end, it's all up to you guys. My next dividends is today and I will post in about 6-7 hours.

    You guys let me know what you think. I will send a message to the whale to talk to him also.

    And @nickpap this asset is currently in the process of refunding, so if you buy shares now you will most likely be paying more than what you get back.

    Cheers,

    • Christian


  • @cjellis245 said in [ANN] Helium - LocalBitcoins.com Exchange Asset!:

    @RichBC The thing is though, even after all the profit I have been making it still will not be enough to pay back at that price simply due to the ridiculous price rise in Burstcoin. I would be paying 5+ milllion burst more than I originally received.
    I think I will just keep working hard making money, and maybe invest in a few things to help out (I will check with my investors first of course)
    This may mean that I will have to extend the payouts a few more weeks.
    And as for your most recent post, I will most certainly be paying you back. Just it may take longer than I thought/planned.

    Ok let's just clarify what the above means?

    1. If you raised 15 Million Burst and you pay back 15 Million Burst, how does that represent 5+ Million more that you received? We did not ask you to convert the Burst to BTC or $ if that is what you mean?

    On that point in which currency is the 15M at the moment, Burst, BTC or Dollar?

    1. Working hard, please explain what that means? Invest in a few things, please don't that's not want we invested the Money for.

    2. Good to hear that you still intend to pay us back but that this may mean Extending the Payouts, please give us some detail on what you mean by this?

    Finally a word of advice. Please stop making wishy-washy statements with no detail or timescales. I will then be able to stop asking for clarification and detail :-)

    Rich



  • @RichBC Ok so clearly you don't understand what I'm saying.
    The Burst to Bitcoin price has gone WAY up since I first exchanged the Burst for bitcoin. Hopefully your still with me?
    This means that the original 15 million that I got out is now going to cost me ALOT more to exchange it back to Burst (from Bitcoin)
    I got the 15 million out @ around 0.00000080 Bitcoin per Burst and now it is going to cost me 0.00000125 (at this time. I've seen it up to about 0.00000140 - 0.00000150 recently. It can also go down.) which is 0.00000045 Bitcoin per Burst more than what I originally exchanged (and withdrew). This means it will now cost me 18.75 BTC in total to pay back what I had withdrawn, which was approximately 12 BTC. This gives me a loss of 6.75 BTC which is worth (at this time) 8200 US Dollars.
    I have only a few hundred dollars (around $400) from sold Bitcoin currently sitting in my bank accounts. The rest is either in my personal Bitcoin wallet or exchange accounts.

    As for the "'Working hard"' part, I am trying to do as many trades as possible and research on other ways of making money like investing. Since that is clearly not what you want, I won't. Which is fine.
    I was saying that I may extend the payouts in order to give me more time to make the money and/or wait for the Burst price to drop and buy it back. I have no other choice but to do this since you are not willing to invest into other things, which is once again, fine, and completely understandable. If I were to pay you back immediately I would have no money/Bitcoin to continue to trade with AND you guys would have a loss. I have traded about 8-9 Bitcoin altogether and made a profit of over 1 Bitcoin. This brings our total to around 13 Bitcoin so far. Minus the 2.7 Bitcoin that I spent on buying back the Burst, and the 1.25 that I will pay today to buy back another 1 million Burst. I am still sticking to the original plan, but I will quite probably need more time.

    I will keep you guys updated on the progress of my trading and any news.

    Thanks for your help Rich and for sticking by me through all this. You're a great person and I wish you well for the future.

    Cheers, and happy bursting!

    • Christian


  • @cjellis245 OK I understand the affect of the Exchange rate changes. Have thought on this overnight and whereas I have no desire to see you profit from this mess I also do not want you to be out of pocket.

    So from my point of view, cannot speak for the other shareholders. I would be happy for you to buy back Burst at whatever the exchange rate is over a period of say a couple of Weeks (your choice) and then whatever the amount of Burst you end up with distribute that fairly to the Shareholders.

    I still think it might be fairer to favour the small shareholders slightly as the sales at 15 & 13 were almost entirely picked up by Mr Whale.

    It would be good for you to close this one out and get on with other things, what do you and the other Shareholders think?

    Rich



  • It's no problem to buy your shares back right now if you would like to arrange that. I will arrange something with the whale and buy back everyone else's shares, that will be best.



  • @cjellis245 Why not agree with the Whale that you are going to put up a buy order for the small shareholders, clear them through and then do whatever deal you want with Mr Whale?



  • @RichBC That's what I meant.



  • I will buy back your shares tomorrow, but I have to sleep now. I will not be doing dividends and I will just buy back the shares.





  • Hey guys,
    I am ready to start repayments, so I will pay back the value of the Burst you originally paid in Burst + 10% (and minus what I have already paid).
    For example, if you originally paid 15 Burst per share, take away 4 Burst per share (which is the current value of what I gave out via dividends) which then gives you 11 Burst per share. The value of what this was when I originally exchanged this is what you will get back. This value at this rate is 7.5 Burst per share. Then by adding that 10% you get 8.25 Burst per share, which I think works the best because you are still making 10% profit. All of these calculations are as of right now and I will make exact calculations for each individual.

    Of course I will need your order ID/trans ID so I can calculate how much I will need to pay you back.
    This works best for all of us since it will be paying back the same amount of value in Burst because Burst is now worth more than it was. This is very complicated and most likely quite confusing for you to read so as always if you have any questions just let me know and I will respond to the best of my ability.

    Please transfer the shares to BURST-K8HT-WUR5-CWP9-B8QZT and either add a message the includes your transaction and order ID or post it here and let me know your Burst address so I know who it is from and who to pay.

    Ready when you are :)

    Happy Bursting!

    • Christian


  • I would just like to clarify to ALL OF THE BURST COMMUNITY that there will be NO MORE DIVIDENDS. This asset is in buy back mode and will not receive any further dividends.



  • @cjellis245 Thanks for going ahead with the Buyback. However first please provide some more detail on the Maths?

    I can see 15 - 4 = 11 but please provide the Exchange Rate values you are using for then and now to get this to 7.5?

    Also the calculation for the Dividend payments? I have seen 2.39 Burst / Share, please again show how this becomes 4?

    When this has been explained I will do some maths and send you a Chat and then the Shares.

    Thanks Rich


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