CFSGOLD buyback is resumed with 30% haircut. bter's BTC IOU coming later

inarizushi · July 17, 2015, 11:49:22 PM

Quote from: phillyguy on July 17, 2015, 07:13:49 PM
I have 99 CFSCOIN in my BTS wallet. I can't remember the exact circumstances/function of this UIA. Do these have any utility or should I just disperse randomly?

They were supposed to be sharedropped by benefits of the bitAssets trading bots. The BTER incident destroyed the project, so I guess CFSCOINs can be considered worthless now.

phillyguy · July 17, 2015, 07:13:49 PM

I have 99 CFSCOIN in my BTS wallet. I can't remember the exact circumstances/function of this UIA. Do these have any utility or should I just disperse randomly?

pc · March 31, 2015, 12:23:39 PM

OK, sold mine.

Riverhead · March 31, 2015, 11:33:10 AM

Quote from: pc on March 31, 2015, 07:31:06 AM
Quote from: Riverhead on March 31, 2015, 03:45:18 AM
1) Buy back all the assets (excluding CFSUSDA which was post hack) at .7

The Gold that was on BTER as Gold was returned and those with CFSGold have mostly been repaid (with the haircut). If there's anyone still holding CFSGold and wants to unload it for bitGold at 0.7:1 PM me.

So do you want me to unload or not? What happens with my CFSGold if I decide to keep them?

Nothing will happen with the CFSGold as we're not currently trading on BTER and since the hack it's tough to figure out the NAV as a lot of funds are in an unknown state. Of the 12oz CFSGold sold we have already bought back 90% of it.

I'll put up another buy order at 0.7. Anyone that had a CFSAsset at the time of the hack will have their value returned to them in BTC as BTER releases it.

Once the dust from the hack clears we'll reevaluate our position. I'm a bit reluctant to take on more IOU's however because of exactly what's happening now.

pc · March 31, 2015, 07:31:06 AM

Quote from: Riverhead on March 31, 2015, 03:45:18 AM
1) Buy back all the assets (excluding CFSUSDA which was post hack) at .7

The Gold that was on BTER as Gold was returned and those with CFSGold have mostly been repaid (with the haircut). If there's anyone still holding CFSGold and wants to unload it for bitGold at 0.7:1 PM me.

So do you want me to unload or not? What happens with my CFSGold if I decide to keep them?

Riverhead · March 31, 2015, 03:45:18 AM

There are two phases to the buy back because we can't be sure if BTER, even with best intentions, will be able to make everyone whole.

1) Buy back all the assets (excluding CFSUSDA which was post hack) at .7

2) Take a snapshot of who owned what before the hack so that we can return the value of the BTC as it's released by BTER.

The Gold that was on BTER as Gold was returned and those with CFSGold have mostly been repaid (with the haircut). If there's anyone still holding CFSGold and wants to unload it for bitGold at 0.7:1 PM me.

My current frame of mind is to do a reset of the pre-hack assets, make everyone as whole as possible, and then decide if I want to re-issue new assets and bootstrap the operation all over again.

ubits · March 30, 2015, 06:14:58 PM

So if Bter returns all BTC, CFSGold will go back to a value of 1 instead of .7? And CFScoins are being issued on the full unit price? or 0.7 price?

So if we don't need the BTS, just leave CFSgold alone and it will go back to full unit, original value? and higher hopefully if there is market demand :-)

Riverhead · March 30, 2015, 01:13:34 PM

Quote from: mdj on March 28, 2015, 03:45:03 PM
Are there plans to increase liquidity for Bitassets on the internal exchange?

Yes. Currently I am funding a bot for bitUSD/BTS and today I'm hoping to complete CNY, Gold, and Silver.

mdj · March 28, 2015, 03:45:03 PM

Are there plans to increase liquidity for Bitassets on the internal exchange?

Riverhead · March 27, 2015, 10:37:28 PM

If anyone else has CFSUSDA they'd like to divest from please send me a PM. I'm trying to balance liquidity on the markets with allowing people to exit that wish to.

I'll make a thread about this too so it's not buried.

xeroc · March 24, 2015, 01:47:41 PM

Quote from: Riverhead on March 24, 2015, 11:01:10 AM
Putting this up shortly; soon as I'm done with 8.1 upgrade. I meant to do it last night but fell asleep at the keyboard :-[

:P

Riverhead · March 24, 2015, 11:01:10 AM

Quote from: onceuponatime on March 24, 2015, 01:16:39 AM
@Rune

Would you please comment on the CFSUSDA:BitUSD market? Is there going to be a liquid market there, and if so, when?

Putting this up shortly; soon as I'm done with 8.1 upgrade. I meant to do it last night but fell asleep at the keyboard :-[

onceuponatime · March 24, 2015, 01:16:39 AM

@Rune

Would you please comment on the CFSUSDA:BitUSD market? Is there going to be a liquid market there, and if so, when?

ebit · March 19, 2015, 06:30:30 AM

+5%

Riverhead · March 19, 2015, 02:03:02 AM

Quote from: neo1344 on March 19, 2015, 01:45:16 AM
trusting Bter? nope.

No trust. The 30% haircut values the BTC locked up in BTER at $0. Anything we get back going forward improves on that position.