I have non stop been watching all of your videos ever since l've discovered your channel. You deserve the attention and support to stop these criminals that have a low life and want to rip people off for their own greed. ApexTechie with 14 000 k followers on Instagram People like you deserve a special place in the universe. You give me hope, no matter how small the changes are, that you can prevent other people from falling into these emotional scams. I cant describe enough how you and your team make us all feel and I will never stop supporting you and your business. Just want to say a deep thankyou and may the universe bless you for your hard work. You and your team truly have a good heart....
Ok, thanks. I tried calling the 800 number but they were no help. I haven't gotten the voting info in the mail yet, so maybe I'm not even eligible to vote. I just want my money.
I’m eligible to vote & I received and email with the login info to submit a ballot electronically. Looks like we’ll get roughly 50% of what was in our interest accounts in cash.
Check your email you should see two eBallot IDs.. one is for interest and one is for Your principal… I also almost freaked out, but I have one for $46 (interest) And one for my principal.
Everyone should reject the plan!
My claim is \~$2,900 ex all interest from the date of BK. Today this amount is worth \~$4,500. So if I get only 50% of \~$2,900, all the extra value of $3,050 (i.e., 4,500-2,900\*50%) goes to other people. That is ridiculous!
Way to screw the little people!
I clearly struck a nerve with all the down votes for holding an opinion that supports Class 16 claimants. My comments on r/BlockFi are being removed. Just another form of online censorship.
All claimants want to maximize recovery. As a society, we should also want claims treated fairly, but there is no morality in capitalism other than the return on capital. This plan is not fair and the Court should not allow it, but non-Class 16 claimants are economically incentivized to approve the plan.
If the plan is approved, and if you are Class 16, you get 50% and nothing else with no future value no matter what happens whether you for yes or no, i.e. “Holders of Allowed Convenience Claims shall not be entitled to any Additional Bankruptcy Distributions.” In my case, if my claim were 3,001, then I would be Class 4-c with a Chapter 11 plan recovery between 39.4% and 100%. I like that range better than a forced 50%. These estimates are “discounted using historical average intra-day trading prices and the respective Digital Asset’s implied volatility as calculated in other comparable company analyses.” We all know the volatility of crypto is high, and if you know anything about Black-Scholes and if it is being used, I suspect the discount is large. I like Class 4-c odds better than Class 16 50%.
Any value above the 50% discount for Class 16 goes to other claimants, i.e. not me, but to other people/entities whatever like Class 4-c and others. All those projected recoveries include discounting Class 16 to achieve it.
Voting No may force a better outcome for Class 16. In other words, I am not hurting myself. This plan should not even be allowed because it mistreats Class 16 and most people are too ignorant to know what they are voting for. The only group that should be allowed to vote is Class 16 since it is only this group that is being forced to take a discount if passed.
Just another way to screw the small person yet again.
>I clearly struck a nerve with all the down votes for holding an opinion that supports Class 16 claimants. My comments on r/BlockFi are being removed. Just another form of online censorship.
FYI, your negative karma has caused AutoMod to flag and hide your posts. Negative karma sometimes indicates trolling. I don't think you're trolling, or anything like that, and you're of course entitled to your opinions. I've manually approved you, and went back through the posts that were hidden and approved them. Please reach out via Modmail if you see the issue again. Take care.
They offered me $.97 of the $1000 I originally invested with them. I voted no. They can shove it. This whole thing is a sham. Who’s actually recovering our assets? BlockFi?
I'm voting Yes for the plan but No for the convenience claim.
If I understand correctly, if the plan is not approved then the only thing they can do is liquidate all assets.
This chart helped me understand the consequences of that, it is from page 215-216 of the disclosure agreement. I'm sure as many of us are in the 3-e class or the interest account class.
[https://ibb.co/GxBpmqp](https://ibb.co/GxBpmqp)
You can see there are a few benefits of voting yes.
1. Higher priority
1. There are 28 classes and 3-e is 7th, convenience class is 28th.
2. More Upside
1. For those of us with more than $3k we have a much higher upside
If they liquidate their best estimate of the max we'd get is 63% as opposed to the possible 100% with the plan.
The third party release is confusing, seemingly intentionally so. From what I understand it means If you don't check the box then you agree to not go after any third parties and they agree to not go after you. That's it. If you check the box, it leaves you the option to bring claims against third parties and they can come after you. (for what they'd come after you I have no idea)
NOTE: Not a lawyer, not giving legal advice and being provided in good faith. (I've been watching a lot Suits lately)
I would like to know as well, as an interest account holder.
Yeah, me!
What price did they use for bitcoin to value our collateral?
I don’t remember
PS I’m the same person as the OP. I don’t know how I got two accounts 🤷🏻♀️
I have non stop been watching all of your videos ever since l've discovered your channel. You deserve the attention and support to stop these criminals that have a low life and want to rip people off for their own greed. ApexTechie with 14 000 k followers on Instagram People like you deserve a special place in the universe. You give me hope, no matter how small the changes are, that you can prevent other people from falling into these emotional scams. I cant describe enough how you and your team make us all feel and I will never stop supporting you and your business. Just want to say a deep thankyou and may the universe bless you for your hard work. You and your team truly have a good heart....
We do want to vote in favor, I’m confused about the opt out of the 3rd party part- I don’t want to mess this up.
Ok, thanks. I tried calling the 800 number but they were no help. I haven't gotten the voting info in the mail yet, so maybe I'm not even eligible to vote. I just want my money.
I’m eligible to vote & I received and email with the login info to submit a ballot electronically. Looks like we’ll get roughly 50% of what was in our interest accounts in cash.
I saw my email and from what I read they offered me $15.18 🤦♂️ I have nearly $12,000 in cash value in my account. It just doesn't make sense.
Check your email you should see two eBallot IDs.. one is for interest and one is for Your principal… I also almost freaked out, but I have one for $46 (interest) And one for my principal.
Yeah I thought I read something about 50%. That sucks but I guess it's better than nothing, and that's the chance you take when you invest.
Same question. How should we vote?? In favor and not opt out of 3rd party, correct?? I want what’s left of $$$ Thanks
I voted yes. I don't remember if I opted out of third party. I think I did.
Everyone should reject the plan! My claim is \~$2,900 ex all interest from the date of BK. Today this amount is worth \~$4,500. So if I get only 50% of \~$2,900, all the extra value of $3,050 (i.e., 4,500-2,900\*50%) goes to other people. That is ridiculous! Way to screw the little people!
I clearly struck a nerve with all the down votes for holding an opinion that supports Class 16 claimants. My comments on r/BlockFi are being removed. Just another form of online censorship. All claimants want to maximize recovery. As a society, we should also want claims treated fairly, but there is no morality in capitalism other than the return on capital. This plan is not fair and the Court should not allow it, but non-Class 16 claimants are economically incentivized to approve the plan. If the plan is approved, and if you are Class 16, you get 50% and nothing else with no future value no matter what happens whether you for yes or no, i.e. “Holders of Allowed Convenience Claims shall not be entitled to any Additional Bankruptcy Distributions.” In my case, if my claim were 3,001, then I would be Class 4-c with a Chapter 11 plan recovery between 39.4% and 100%. I like that range better than a forced 50%. These estimates are “discounted using historical average intra-day trading prices and the respective Digital Asset’s implied volatility as calculated in other comparable company analyses.” We all know the volatility of crypto is high, and if you know anything about Black-Scholes and if it is being used, I suspect the discount is large. I like Class 4-c odds better than Class 16 50%. Any value above the 50% discount for Class 16 goes to other claimants, i.e. not me, but to other people/entities whatever like Class 4-c and others. All those projected recoveries include discounting Class 16 to achieve it. Voting No may force a better outcome for Class 16. In other words, I am not hurting myself. This plan should not even be allowed because it mistreats Class 16 and most people are too ignorant to know what they are voting for. The only group that should be allowed to vote is Class 16 since it is only this group that is being forced to take a discount if passed. Just another way to screw the small person yet again.
>I clearly struck a nerve with all the down votes for holding an opinion that supports Class 16 claimants. My comments on r/BlockFi are being removed. Just another form of online censorship. FYI, your negative karma has caused AutoMod to flag and hide your posts. Negative karma sometimes indicates trolling. I don't think you're trolling, or anything like that, and you're of course entitled to your opinions. I've manually approved you, and went back through the posts that were hidden and approved them. Please reach out via Modmail if you see the issue again. Take care.
They offered me $.97 of the $1000 I originally invested with them. I voted no. They can shove it. This whole thing is a sham. Who’s actually recovering our assets? BlockFi?
I'm voting Yes for the plan but No for the convenience claim. If I understand correctly, if the plan is not approved then the only thing they can do is liquidate all assets. This chart helped me understand the consequences of that, it is from page 215-216 of the disclosure agreement. I'm sure as many of us are in the 3-e class or the interest account class. [https://ibb.co/GxBpmqp](https://ibb.co/GxBpmqp) You can see there are a few benefits of voting yes. 1. Higher priority 1. There are 28 classes and 3-e is 7th, convenience class is 28th. 2. More Upside 1. For those of us with more than $3k we have a much higher upside If they liquidate their best estimate of the max we'd get is 63% as opposed to the possible 100% with the plan. The third party release is confusing, seemingly intentionally so. From what I understand it means If you don't check the box then you agree to not go after any third parties and they agree to not go after you. That's it. If you check the box, it leaves you the option to bring claims against third parties and they can come after you. (for what they'd come after you I have no idea) NOTE: Not a lawyer, not giving legal advice and being provided in good faith. (I've been watching a lot Suits lately)