State of the receivership process
As BitBet’s receiver I am pleased to present this second progress report to all the interested parties. The next progress report will be published after the auction is completed, it will list the final payout amounts and beneficiaries for public review.
Auctioneering of the assets
As of today, the highest bid for the BitBet assets (other than the cash) is 9 BTC, by Stanislav Datskovskiy, aka asciilifeform.
The Twitter account will be included in the package, there is an API access key in the code, control over the domain will also allow the buyer to reset the account password.
BitBet’s hosting is currently provided graciously by Matic Kočevar. The buyer is expected to provide his own hosting setup. I will setup and provide the necessary infrastructure in the interim to keep BitBet online, should Matic Kočevar request so.
In the interest of maximizing BitBet’s assets, the bidding deadline will be extended if necessary. The precise deadline will be the end of Wednesday the 6th of April (as previously stated), or one hour after the last bid that improved the previous best bid by more than one full Bitcoin, whichever comes latest.
State of the assets and liabilities
My inventory of the assets has shown a discrepancy between their theoretical amount, and the amount I currently have under my control, the difference is 199.45006789 BTC. Mircea Popescu has stated he would have the numbers checked, and provide a complimentary sum, if applicable.
The liabilities I have certified are:
- Receiver’s fee: 13.37 BTC
- Bettor winnings: 331.69291390 BTC (335.04334737 BTC before 1% fee)
- Bettor refunds for unresolved bets: 616.53072474 BTC
- Bettor refunds for zeroconf bets on un-handled proposals: 1.99978000 BTC
I did not certify Mircea Popescu’s claim to 17.94766149 BTC. The BitBet contract, as signed by Mircea Popescu and Matic Kočevar, explicitly states:
3.2(d) All decisions with regards to any aspect of BitBet, measures taken in regards to any aspect of BitBet operation, any actions, activities or agreements involving BitBet will require unanimous agreement of all the representatives of BitBet. Any such decision, measure, action, activity or agreement which fails to obtain unanimous agreement of all BitBet representatives is void and unenforceable.
As of today, Matic Kočevar still refuses to endorse the decision to proceed with a second payment, as per the contract the decision can therefore only be considered void, and its consequences unenforceable. As a consequence it follows that BitBet may not deduct the amount that was paid a second time from its liabilities to certain winning addresses.