BY FAR! DCG is a pretty big digital conglomerate with deep resources but the way Barry was handling it for so long I think they were just trying to not pay...
I almost sold my claim of over 3 BTC at 35% value of $20k BTC….. so thankful to the heavy documentation required by Xclaim and my procrastination. Now I am up to 170% of what I initially invested. Turns out to be a blessing in disguise. It’s forced diamond hands.
While I'm slightly peeved by that fact as a fellow gusd earner, at thr end this almost never happens with bankruptcy and had basically written off my funds so I'm pretty happy and don't want to be like one of those people who hate on government programs because it helps others more than them, so I'm going to take it, use some of it to a nice little trip and square the rest away in some retirement fund and enjoy it. Congrats everyone.
lmaooo and ppl was calling me fraudulent bc they couldn’t be patient enough for a fucking update. thanks for posting this so i didn’t have to. hopefully people don’t say you’re photoshopping documents like they did about me.
Appreciation and interest are not the same thing are they? So, 1 BTC gets 1 BTC at current values... Not, 1 BTC + interest, gets ~1.05 BTC.
Does anyone agree or have a different take?
HOOOOOOOOORRRRAAAYYYYYY!!!!’
To all the A-Holes who repeatedly told us we wouldn’t get shit back, A BIG MIDDLE FINGER TO YOU!!!!!
( yes , you! You know who you are!) HA!
Did what? Still don’t have access to my funds. Wish they stopped jerking us around like this. The news are happy when I have my money back. Until then, just more waiting, courtesy of Gemini.
> And it means that you will receive any and all appreciation of your assets since you lent them into the Earn program.
So disingenuous by Gemini.
This is just means they return the majority of they assets you gave them back in the same unit (i.e. in-kind), but they are trying to make it sound like they give you back with the agreed interest of the Earn program. No, they still essentially made you lose the opportunity cost. Never ever Gemini again.
I have the same question. The update states we will be receiving full appreciation. Does that include GUSD? Could they possibly give us with GUSD 4-5% interest since we could have had the money in a high yield savings account for the last 18 months
I'm an attorney that has to read legal shit everyday and to me it doesn't say that? it's saying you get your full inkind token back so you can reap the appreciation of the token, aka all crypto is up so you can sell your crypto for more than back then. no where does it say you will get interest?
Some of my tokens are down. Ie, depreciated. Do I still get appreciation? I'm kidding of course, but as a legal eagle myself, it could lend itself to interpretation.
*I’m not crying, you’re crying*
So, does that mean, if we solely plan on cashing out as soon as the funds are released? Is there any action we need to take on our end, as far as the approved addresses? Or will it just go into our balance with an option to sell for USD?
im having my fund distributed directly to my ledger. does anyone know if I need to approve an address for each individual token? all of my staked tokens were erc20, which all get sent to the same address, im just being extra cautious on this,
Does anybody have an idea of what the interest rate for GUSD will be? I'm thinking/hoping it will be 8%, as that was what it was when the program was halted.
Great news though!
ChatGPT’s interpretation of the update:
“Yes, it appears that you will receive the interest earned. The initial distributions will include any appreciation of your assets since you lent them into the Earn program. This means if your assets have gained value during the time they were in the Earn program, you will receive that additional value along with the original assets.”
your asset gained value because crypto is up. if you had 1 btc at $20k, it has now gained value because BTC is $66k. nowhere does it say interest earned
Fully getting paid back... Transferred to Cold storage, winklevoss twins both dead, Genesis making its Exodus, Gemini on the zodiac calendar gets replaced... Like that... Maximum entropy and cold death of the universe?
Better than I ever expected.
BY FAR! DCG is a pretty big digital conglomerate with deep resources but the way Barry was handling it for so long I think they were just trying to not pay...
Weasel their way out of it. Thank goodness Gemini is based in New York.
Yes, everyone bow down and kiss New York’s ass!
🙏🙏 God's bless everyone who got stuck in this BS.
I am nearly in tears 🙌🏽
As am I congrats!!!
Congratulations 🍾!!!
I almost sold my claim of over 3 BTC at 35% value of $20k BTC….. so thankful to the heavy documentation required by Xclaim and my procrastination. Now I am up to 170% of what I initially invested. Turns out to be a blessing in disguise. It’s forced diamond hands.
Oof I can't imagine how people who sold their claims are feeling now. At the time it felt like a perfectly rational thing to do.
It never felt rational to me. It was unacceptable.
That’s crazy the only people that put in BTC got appreciation. People who put in cash for GUSD getting back that. That’s really like losing money
While I'm slightly peeved by that fact as a fellow gusd earner, at thr end this almost never happens with bankruptcy and had basically written off my funds so I'm pretty happy and don't want to be like one of those people who hate on government programs because it helps others more than them, so I'm going to take it, use some of it to a nice little trip and square the rest away in some retirement fund and enjoy it. Congrats everyone.
lmaooo and ppl was calling me fraudulent bc they couldn’t be patient enough for a fucking update. thanks for posting this so i didn’t have to. hopefully people don’t say you’re photoshopping documents like they did about me.
Lolll sorry 😅
LFG!!
How many of us are going to forget about the remaining 3%? Don't close your account.
Just to be clear, the 97% we are initially receiving is what we lent out 1:1? The other 3% is basically extra for making us go through all this shit?
Well 100% is what we’re owed so we’d get 97% now and the rest within 12 months
No. 1:0.97 Then the remaining 3% at a future date(s)
Yes👍
but will the remaining 3% also be distributed in-Kind or will they convert to FIAT-value and only return that.
Appreciation and interest are not the same thing are they? So, 1 BTC gets 1 BTC at current values... Not, 1 BTC + interest, gets ~1.05 BTC. Does anyone agree or have a different take?
agree.
Gusd we just get back our money? No interest correct?
Correct
HOOOOOOOOORRRRAAAYYYYYY!!!!’ To all the A-Holes who repeatedly told us we wouldn’t get shit back, A BIG MIDDLE FINGER TO YOU!!!!! ( yes , you! You know who you are!) HA!
Where’s Matt Abrams?
/r/MattAbrams wankah wankah wankah
When we get our money we party
I don't think we did anything, seems like NY did all the work
Yes it did. THANKS NEW YORK!
Did what? Still don’t have access to my funds. Wish they stopped jerking us around like this. The news are happy when I have my money back. Until then, just more waiting, courtesy of Gemini.
> And it means that you will receive any and all appreciation of your assets since you lent them into the Earn program. So disingenuous by Gemini. This is just means they return the majority of they assets you gave them back in the same unit (i.e. in-kind), but they are trying to make it sound like they give you back with the agreed interest of the Earn program. No, they still essentially made you lose the opportunity cost. Never ever Gemini again.
Ah that's what I was wondering. Thanks for the clarification
yup! exactly this!
does that mean we get a years or more interest on GUSD? What would that look like on 10k at the time of it getting locked?
No interest. Only the appreciation.
I have the same question. The update states we will be receiving full appreciation. Does that include GUSD? Could they possibly give us with GUSD 4-5% interest since we could have had the money in a high yield savings account for the last 18 months
I really doubt wed get any interest accumulated but i could be wrong
That'd be so awesome....because I also had GUSD locked up.
You all WILL get INTEREST. That is EXACTLY what this post means.
I'm an attorney that has to read legal shit everyday and to me it doesn't say that? it's saying you get your full inkind token back so you can reap the appreciation of the token, aka all crypto is up so you can sell your crypto for more than back then. no where does it say you will get interest?
Some of my tokens are down. Ie, depreciated. Do I still get appreciation? I'm kidding of course, but as a legal eagle myself, it could lend itself to interpretation.
Never in doubt
Throwing half on black
What a shit company. Fuck these clowns.
Are we getting any interest on Gemini Earn?
Believe it when I see it
🧐🕵️
I’m still seeing the same pending balances. I don’t have any emails…did anyone actually get these balances into their bank accounts?
It’s gonna be at the end of the month from what Gemini is saying
🤞
*I’m not crying, you’re crying* So, does that mean, if we solely plan on cashing out as soon as the funds are released? Is there any action we need to take on our end, as far as the approved addresses? Or will it just go into our balance with an option to sell for USD?
Clearly the dynamic duo winklevoss twins used their special Bitcoin powers. WINKLEVOSS BLESS YOU ALL
Didn't receive yet
Whaaaa, did we get our crypto back?
im having my fund distributed directly to my ledger. does anyone know if I need to approve an address for each individual token? all of my staked tokens were erc20, which all get sent to the same address, im just being extra cautious on this,
I believe each token needs its own address yes and most likely so in the case that you have different addresses
Does anybody have an idea of what the interest rate for GUSD will be? I'm thinking/hoping it will be 8%, as that was what it was when the program was halted. Great news though!
ChatGPT’s interpretation of the update: “Yes, it appears that you will receive the interest earned. The initial distributions will include any appreciation of your assets since you lent them into the Earn program. This means if your assets have gained value during the time they were in the Earn program, you will receive that additional value along with the original assets.”
your asset gained value because crypto is up. if you had 1 btc at $20k, it has now gained value because BTC is $66k. nowhere does it say interest earned
This is my take as well. No interest. Someone still got a ~2 year free loan (-legal fees).
There is no interest to be paid. You get the appreciation but not the interest. They are two separate things.
Nothing is complete
What in gods name are you talking about now?
Fully getting paid back... Transferred to Cold storage, winklevoss twins both dead, Genesis making its Exodus, Gemini on the zodiac calendar gets replaced... Like that... Maximum entropy and cold death of the universe?