[ANN] Helium - LocalBitcoins.com Exchange Asset!



  • Hey guys,
    I just need to let you know I am postponing this weeks dividends.
    The plan is to give them out in the next 2 days but I may not be able to. If this is the case I will let you guys know and we will work something out.
    Thanks,

    • Christian


  • @cjellis245 At this stage in the game this is not good enough, we need more information. Why are you delaying and why might you not be able to make payments in the next 2 days?

    If you want any level of continued support we need complete honesty and updates on a much more regular basis.

    Rich



  • Personal reasons. I do not want to get into it but I can assure you I will be able to do the dividends within the next 2 days.



  • @cjellis245 So after 8 days of silence you say ** The plan is to give them out in the next 2 days but I may not be able to** then moments later you are saying ** but I can assure you I will be able to do the dividends within the next 2 days.**

    Now you are hiding behind Personal reasons I am sorry but you have got to do better than this. You have the Shareholders Money, you said it is safe and have put forward a plan to return it, but after returning just 1 Million of the 14 Million Burst you are flagging problems.

    The plan was already very extended with the bulk of the money not being returned for 5 Weeks. Stop messing us about I cannot see why a "Personal Reason" would delay payment, or in practice why the payment could not be made in a much shorter timeframe, and put this one to bed?

    Rich



  • Certain circumstances had originally made me think I was not going to be able to pay. I am not comfortable with sharing to anyone about the specifics but it has to do with family dramas and I was going to be away for a few days and a large portion of the money was in my personal bank account and I didn't quite have enough to exchange back to Poloniex at the time. I am just not comfortable with sharing about this sort of thing, it's just how I am and you would understand if you met me in person. Hopefully that made sense to you.

    I am sorry about this and I am doing my best to not let it affect my assets. I have just woken up this morning and I should be able to make this weeks (as planned) dividends.

    • Christian


  • Dividends - Sorry for being late.
    Amount paid, Account, TX
    979094, BURST-QJPB-7464-5E5B-5NFHJ, 15366061832126460632
    10000, BURST-5LW6-657H-WXHL-49BCP, 14192133870538365077
    7464, BURST-KZQV-7L7K-89K6-HXFGP, 11186567431379547138
    1878, BURST-VAX9-BFZ6-XSX5-CW2EN, 13708322093130114460
    1001, BURST-SCZS-PBXH-E47U-7X2LG, 8982272473613538305
    300, BURST-L4BJ-LLHL-S8UB-HWXZV, 3970974594250440928
    100, BURST-N996-XNNG-PVR2-63XMN, 7933206432250434667
    100, BURST-H6L4-XQ42-VW49-7R9MW, 12410063392868026070
    27, BURST-VEFU-NW9C-BK3S-4X297, 18240167483485659770
    25, BURST-4WAN-VXS8-Q9SY-B3F3D, 12845387771095603075
    10, BURST-QCST-F6TV-VZ2F-CQRPU, 3771211475364484017
    1, BURST-H9TG-W3GU-EN2N-49GUW, 16291675777708829102
    ------------All transactions processed------------
    Cheers

    • Christian


  • @cjellis245 Thanks for the second payment, as ever you seem to be making this harder than it needs to be. Let's put aside the reasons why you thought you would not be able to make this payment as it's now been made.

    Now let's look forward. Do you expect to be able to make the other payments on the schedule you have put forward?

    Simple question, simple answer needed.

    Thanks

    Rich



  • @RichBC Yes. I expect to make the payments on time if not earlier.



  • @cjellis245 Thank You, please keep us regularly updated.



  • 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

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