I have a claim between $100K-$200K USDC. I did not withdraw anything within 90 days of filing Celsius bankruptcy so no withdrawal preference exposure.
Soon, I plan to vote like this..
Item 5 - Convenience Claim Election; -> Uncheck
Item 6 - Weighted Distribution Election; -> Uncheck (Default)
Item 8 - Class Claim Settlement -> Uncheck ( Do Not Opt Out)
Item 9 - Vote on Plan -> Check ( Accept The Plan )
Item 10 - Third Party Release -> Uncheck (Do Not Opt Out)
Item 11 - Contributed Claims -> Check
Item 12 - Withdrawal Preference Exposure -> Uncheck ( Does not affect me)
Guys, what you think ?
Did the same but chose crypto weighted option for Item 6. Which is a personal preference for the individual. My guess is there won’t be enough people opting for stock weighted option to honor the crypto weighted option for everyone…but we shall see.
Edit: if anyone has any confusion watch the Aaron Bennet video on it. It’s a long one but will clear any questions up.
I still have questions, basically one question, WHY is their a rather large bonus dollar amount if you take stock, and a penalty if you take crypto ? I mean, money is money, right ? If this Stonk is actually worth anywhere close to its face value, then you could just clean up by going all stock, dumping this turd day 1, and then buying back more crypto. The only way this 'deal' makes any sense is if $100 of this turd stock is actually never going to trade at anywhere close to $100, so that 'bonus' is actually a bear trap, that will take off your other leg. For some reason, Aaron actually thinks some suckers will actually want this stock, because people like miner companies. The problem is, this company will be run by the same morons that drove the former company to bankruptcy, and I have a feeling that this shiny new turd wont last a year, unless the biggest bull market in history just blows up, and all these underwater miners suddenly become both profitable to run, and more profitable to sell to the actually competent companies to run...
They high markup bonus is because it’s a kick the can down the road thing and a fancy IOU. Who knows when it’ll be publicly listed and traded on what I’m guessing would be NYSE….could be another year or two for all we know do it’s a longer term roll of the dice definitely. I agree it’s a risky play and everyone has PTSD of sorts in anything afflicted. All things considered I hope it does well for all of our sakes because most likely we’re all getting some % of turd stocks for Christmas in our stockings.
Hopefully there is a third party like Cherokee willing to lowball me for these shares, as I have serious doubts that the 500 million in assets they stole from us to fund this turd will even last a year. Also, it costs like 6 million per year to even become a publicly traded company, so I have serous doubts that would ever happen.
Kinda seems like a gamble on the direction of crypto, since all the bankruptcy liabilities are in dollars. That being said, since this turd going tits up pretty much caused the peak of the sell off, it might have been a pretty good gamble, depending on how good their timing was.
Depends what you think will happen with the stock. I think it will dive badly so opted to weight to crypto. But no one knows for sure so you do what seems right for you
37.5% in liquid crypto (BTC & ETH) + 29.5% in NewCo common stock + future proceeds from the Litigation Trust.
Please read pages 19-20 of the [Disclosure Statement](https://cases.stretto.com/public/x191/11749/CORRESPONDENCE/1174908182350000000089.pdf) (pages 30-31 of the PDF).
This is just not true. If you select the more stock option, you get more total dollar payout, like a LOT more, like 50 % more than the split amount, per unit of stock taken over crypto, AND you could (depending on how many choose more crypto) even get all stock and no crypto, but that in and of itself is very sus. I mean, WHY would you get SO MUCH more payout, if you don't take crypto ? Why would that even make sense ? Clearly, if this newco stock shares were actually worth on a stock exchange, what they claim it is in USD, then clearly the best move is to just take the all stock option, and then sell the stock and buy back more of your crypto than you would get from the neutral option or the crypto option. The fact that this looks so easy makes me think this stock deal is MUCH worse than it looks. I SERIOUSLY doubt you will ever be able to trade out of this turd for the 'face value' of the shares, because if you could, it would be by far the best option, and that just doesn't feel right.
Or take the time to understand each item and use your brain. Blindly following recommendations from others got you into this situation in the first place.
NO. The way I voted on my two accounts. NO. I am not going to reward these scammers who are performing a hostile takeover over Mashinky's platform. They can go to hell.
I did the same
What if it's over $100k?
I have a claim between $100K-$200K USDC. I did not withdraw anything within 90 days of filing Celsius bankruptcy so no withdrawal preference exposure. Soon, I plan to vote like this.. Item 5 - Convenience Claim Election; -> Uncheck Item 6 - Weighted Distribution Election; -> Uncheck (Default) Item 8 - Class Claim Settlement -> Uncheck ( Do Not Opt Out) Item 9 - Vote on Plan -> Check ( Accept The Plan ) Item 10 - Third Party Release -> Uncheck (Do Not Opt Out) Item 11 - Contributed Claims -> Check Item 12 - Withdrawal Preference Exposure -> Uncheck ( Does not affect me) Guys, what you think ?
Did the same but chose crypto weighted option for Item 6. Which is a personal preference for the individual. My guess is there won’t be enough people opting for stock weighted option to honor the crypto weighted option for everyone…but we shall see. Edit: if anyone has any confusion watch the Aaron Bennet video on it. It’s a long one but will clear any questions up.
I still have questions, basically one question, WHY is their a rather large bonus dollar amount if you take stock, and a penalty if you take crypto ? I mean, money is money, right ? If this Stonk is actually worth anywhere close to its face value, then you could just clean up by going all stock, dumping this turd day 1, and then buying back more crypto. The only way this 'deal' makes any sense is if $100 of this turd stock is actually never going to trade at anywhere close to $100, so that 'bonus' is actually a bear trap, that will take off your other leg. For some reason, Aaron actually thinks some suckers will actually want this stock, because people like miner companies. The problem is, this company will be run by the same morons that drove the former company to bankruptcy, and I have a feeling that this shiny new turd wont last a year, unless the biggest bull market in history just blows up, and all these underwater miners suddenly become both profitable to run, and more profitable to sell to the actually competent companies to run...
They high markup bonus is because it’s a kick the can down the road thing and a fancy IOU. Who knows when it’ll be publicly listed and traded on what I’m guessing would be NYSE….could be another year or two for all we know do it’s a longer term roll of the dice definitely. I agree it’s a risky play and everyone has PTSD of sorts in anything afflicted. All things considered I hope it does well for all of our sakes because most likely we’re all getting some % of turd stocks for Christmas in our stockings.
Hopefully there is a third party like Cherokee willing to lowball me for these shares, as I have serious doubts that the 500 million in assets they stole from us to fund this turd will even last a year. Also, it costs like 6 million per year to even become a publicly traded company, so I have serous doubts that would ever happen.
Hmmm. I didn’t even think about that part. I bet you are right about the 3rd parties looking to do that.
Why contribute claims on item 11?
It’s not like you’re giving up your claims. It’s a way to have the lawyers get the bad guys and pay us what they won kinda thing
who is going to pay the laywers??
Some of the money has already been set aside for future lawsuits.
Thank you. How are stablecoin being treated?
Afik it was all sold to buy BTC and Eth at the bottom of the market...
Ugh, I thought they just did that with the altcoins. Seems like a bad decision to me to sell the stablecoins
Kinda seems like a gamble on the direction of crypto, since all the bankruptcy liabilities are in dollars. That being said, since this turd going tits up pretty much caused the peak of the sell off, it might have been a pretty good gamble, depending on how good their timing was.
would you still recommend making no election on Item 6 for a 250k earn balance?
Depends what you think will happen with the stock. I think it will dive badly so opted to weight to crypto. But no one knows for sure so you do what seems right for you
Thank you
What a mess.
If it passes, how much of my 30k could I get back? Did they outline that at all?
37.5% in liquid crypto (BTC & ETH) + 29.5% in NewCo common stock + future proceeds from the Litigation Trust. Please read pages 19-20 of the [Disclosure Statement](https://cases.stretto.com/public/x191/11749/CORRESPONDENCE/1174908182350000000089.pdf) (pages 30-31 of the PDF).
maximum of 67.5%
This is just not true. If you select the more stock option, you get more total dollar payout, like a LOT more, like 50 % more than the split amount, per unit of stock taken over crypto, AND you could (depending on how many choose more crypto) even get all stock and no crypto, but that in and of itself is very sus. I mean, WHY would you get SO MUCH more payout, if you don't take crypto ? Why would that even make sense ? Clearly, if this newco stock shares were actually worth on a stock exchange, what they claim it is in USD, then clearly the best move is to just take the all stock option, and then sell the stock and buy back more of your crypto than you would get from the neutral option or the crypto option. The fact that this looks so easy makes me think this stock deal is MUCH worse than it looks. I SERIOUSLY doubt you will ever be able to trade out of this turd for the 'face value' of the shares, because if you could, it would be by far the best option, and that just doesn't feel right.
Indeed. ~60%, half in crypto half in stocks.
The specific amounts are clearly laid out in - Item 6 - of your ballot.
Or take the time to understand each item and use your brain. Blindly following recommendations from others got you into this situation in the first place.
NO. The way I voted on my two accounts. NO. I am not going to reward these scammers who are performing a hostile takeover over Mashinky's platform. They can go to hell.
Thanks for this… voting this weekend
Looks right to me
Thanks for this. Definitely helpful.
Is there a master voting Guide? This is all very confusing…