hashking



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Sr. MemberActivity: 308Merit: 250 Re: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19 September 08, 2012, 09:13:53 PM

Last edit: September 09, 2012, 04:08:08 PM by hashking #401 I will currently be suspending all interest payments and withdrawals.

As I receive coins from the various things that I have going on I will start sending people's principal back. I will also be purchasing coins from my personal

funds. Interest that has been paid out will be deducted from the current principal. The reason for this is I would like to get everyone's principal

back before anyone receives anymore interest. I am not able to give a timeframe on the repayment as there is alot of factors that can effect it. I know for sure it won't be

weeks or months, but more then likely in the ballpark of 3 years.



Why did this happen?



Over the last several weeks, I have had alot of depositors request their funds back with no new deposits. I have been able to process these requests up until now. I was also buying mining equipment and had some bad luck with some of the new vendors on the forum. I put in some large orders that I never received the equipment in a timely manner, received equipment that really didn't work up to spec, or was forced to take a refund at a higher BTC price. Finally I did make a mistake and invest a portion of the funds in BTCST along with with some personal funds.



I do feel very bad that this has turned out this way. I will do whatever I can to get everyone paid back. I am also at a personal loss. Payments will start going out Monday 9/8/12 9/10/12 EDIT. This will be a slow process, so please be

patient.



TehZomB



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Sr. MemberActivity: 294Merit: 250 Re: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19 September 08, 2012, 09:18:22 PM

Last edit: September 09, 2012, 12:48:30 AM by TehZomB #402 Quote from: hashking on September 08, 2012, 09:13:53 PM I will currently be suspending all interest payments and withdrawals.

As I receive coins from the various things that I have going on I will start sending people's principal back. I will also be purchasing coins from my personal

funds. Interest that has been paid out will be deducted from the current principal. The reason for this is I would like to get everyone's principal

back before anyone receives anymore interest. I am not able to give a timeframe on the repayment as there is alot of factors that can effect it. I know for sure it won't be

weeks or months, but more then likely in the ballpark of 3 years.



Why did this happen?



Over the last several weeks, I have had alot of depositors request their funds back with no new deposits. I have been able to process these requests up until now. I was also buying mining equipment and had some bad luck with some of the new vendors on the forum. I put in some large orders that I never received the equipment in a timely manner, received equipment that really didn't work up to spec, or was forced to take a refund at a higher BTC price. Finally I did make a mistake and invest a portion of the funds in BTCST along with with some personal funds.



I do feel very bad that this has turned out this way. I will do whatever I can to get everyone paid back. I am also at a personal loss. Payments will start going out Monday 9/8/12. This will be a slow process, so please be

patient.





At the very least, I appreciate you being transparent and sticking around. Hopefully it won't take 3 years to pay everyone back, but better late than never. This still doesn't excuse you lying to get deposits. At the very least, I appreciate you being transparent and sticking around. Hopefully it won't taketo pay everyone back, but better late than never. This still doesn't excuse you lying to get deposits.

LoweryCBS



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firstbits 1LoCBS







Sr. MemberActivity: 364Merit: 250firstbits 1LoCBS Re: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19 September 08, 2012, 09:19:11 PM

Last edit: September 08, 2012, 09:33:57 PM by LoweryCBS #403



Good, you will personally make sure we get our principal BACK - that's the "Insured" part, or return OF principal.



Ok, so we are still ACCRUING interest on unpaid balances? That would be the "Guaranteed" part, or return ON principal.





Quote from: hashking on September 08, 2012, 09:13:53 PM I will currently be suspending all interest payments and withdrawals.

As I receive coins from the various things that I have going on I will start sending people's principal back. I will also be purchasing coins from my personal

funds. Interest that has been paid out will be deducted from the current principal. The reason for this is I would like to get everyone's principal

back before anyone receives anymore interest. I am not able to give a timeframe on the repayment as there is alot of factors that can effect it. I know for sure it won't be

weeks or months, but more then likely in the ballpark of 3 years.



Why did this happen?



Over the last several weeks, I have had alot of depositors request their funds back with no new deposits. I have been able to process these requests up until now. I was also buying mining equipment and had some bad luck with some of the new vendors on the forum. I put in some large orders that I never received the equipment in a timely manner, received equipment that really didn't work up to spec, or was forced to take a refund at a higher BTC price. Finally I did make a mistake and invest a portion of the funds in BTCST along with with some personal funds.



I do feel very bad that this has turned out this way. I will do whatever I can to get everyone paid back. I am also at a personal loss. Payments will start going out Monday 9/8/12. This will be a slow process, so please be

patient.



Good, you will personally make sure we get our principal BACK - that's the "Insured" part, or return OF principal.Ok, so we are still ACCRUING interest on unpaid balances? That would be the "Guaranteed" part, or return ON principal.

wachtwoord



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LegendaryActivity: 2100Merit: 1040 Re: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19 September 08, 2012, 10:08:18 PM #413 To be honest I am quite angry at this. By investing the funds with BS&T yo were essentially defrauding your lenders. I would have preferred investing it with Pirate for 7% instead of the 1.9% I got now (at the same risk!) for my locked in period of 8 weeks which would expire in 1.5 week (in fact I could have better invested in your PSTs). I invested with you to spread my risk which I appearently havent done thus far.



But having sad this, what i your actual repayment plan (as in repayment percentage per week and total outstanding obligations)? You're saying you are deducting interest from the current balnce to retun to principal but are you intending to only repay that? In tun having acquired a free loan to gamble at my expense. Additionally, are you proposing to pay interest on the outstandin balances? Finally becaue did not invest in a PST via you I would also like my repayment to have precedence aboce those hat do.



You are handling this better and more transparent tha Pirate but at this point that is the only positve thing I can ay. I feel I have been scammed.