can you confirm you've recieved my 1052.49 euros from the two transactions combined? Are you planning on playing all events at this point?

Confirmed rec'd.

Yes, I am definitely planning on playing all events.

If I DO miss one, it'll probably be either the 5k HU or the 5k 8max Madrid which are two of the tougher events I have on my slate, so I think people would be ok with that. But yeah, like I said I am planning on playing them all, but I'm not gonna force it if I don't feel good, you know standard.


Shipped back

Could you update us with your intentions and plan at this point considering what happened yesterday? Thanks.

I am on vacation in India and the internet is super spotty here, so I haven't really had time to fully assess the situation.

I am actually in the same boat as everyone who has shipped me $ so far, since I have a bunch of purchases outstanding as well. I don't know what I will do yet, but I will:

1. Definitely make my position explicitly clear before I play the first event
2. Try to deal with this in an honest a manner as possible. Right now it seems to me like on all the transactions that the fairest thing to do is to cancel the action, and hold the buyer's money and if it eventually gets freed up then return it and if not then the buyer loses out. I actually lose MORE money this way (since I have a bit more in purchases than what I've rec'd so far), I think, but as far as I've analyzed it so far that seems like the most reasonable way to approach this to the entire marketplace.


I am not sure what Max's condition is, but even if he backs out, I will still likely be playing most of the events with a private buyer who can wire me. Both mains, and maybe a couple sides but probably not the highroller, HU and maybe 10k hr as well, I don't know.

This really ****ing blows

Was going to post my viewpoints on who's at risk, the buyer or the seller, but I think that's a discussion for another thread.

That said, if pieces do open up for your package as a result of any of this, please waitlist me for some action. I can definitely help you out if you need assistance wiring stateside also, so just let me know, you know I'm always here to help.

If you are playing in these events and you have already received funds then either our action should play in those events or you should return that money. That part is simple. I've voiced my other concerns in the hypothetical thread so I'll leave it at that.

Alright, I have decided that I am going to cancel the action of the people who have already shipped me money. If/when Stars (it's all on Stars, I think) allows me to have access to it, I will ship it back to you immediately.

I want to emphasize that this is not a decision that I came to lightly, and I spent a lot of time reading the opinions of other posters and thinking about it carefully. Also, I would like to point out that I also have about 10k outstanding in purchased shares that are now sitting in limbo, and although it doesn't really matter that much, I also have had about $50k of my money frozen in my accounts too. So, I am not really happy about this situation either, but I am trying to make the best of it and deal with it in as forthright a manner as possible.

As for people who have reserved shares, as well as people who have sent me $ for their %s and understand that their current $ is frozen, but still want to continue to buy shares, I can accept cash in San Remo/Madrid, bank wires or BoA online transfers, or even paypal if you can manage to send it as a gift without fees, which paypal usually lets you do.

Also, I emailed Max, but he hasn't responded yet. Obviously I can't afford to play most of these events without significant backing. I am currently figuring out details with another private buyer to buy a significant chunk of my action.

Please let me know as soon as possible whether you intend on buying shares of the package with cash so that I know how much to withhold.

Also, the investor that I am currently talking to isn't that stoked on me playing the 25k high roller or the 5k HU, so those may be off the table.

Lastly, I will consider opening up a new thread once I get some details sorted out, just so things are cleaner. I will keep you all informed of any developments.


Thanks,

Galen

lol ok finally got into contact with Max and he's still on board and will be sending me the money offline.

So, those of you who reserved shares let me know if you can pay me via non poker site outlets, or if you would like to cancel.


Galen

One last thing - I am trying to see if Stars will let me use my frozen online cash to buy into the EPTs in Madrid. If that's possible, then that means that the money I was sent on stars is essentially unfrozen, and you all's action would remain booked.

Unless I post otherwise though, assume this isn't the case obv

It looks like in the land of the market place cash in hand is king. I really don't understand how you can cancell my action, tell me that money in your account is at my risk, and then say you will play the event anyway.

I want to be on the record here as saying in no way do I accept the fact that you get to unilaterally decide what happens here, cancelling my action while telling me that I'll only get my money back if YOUR money in YOUR poker account is ever sent to YOU. Its one thing to come to a mutual agreement of some sort, but it is completely unacceptable to just tell me that the money I sent you is still my risk, and even though you may or may not be playing in the events I have zero action. If you'd like to talk more I'd be happy to over pm or here but I wanted that stated for the public record.

srlsly eddie...................................

I want to be clear that I'm open to a ton of different situations, maybe even possibly agreeing to the terms GoldenBears decided on....but for him to just decide thats how things are seems 100% wrong. The only reason he thinks that decision is his to make is because he is the one in posession of the funds.

Why don't I have just as much right to come in here and say...
"I've decided that all action will play or funds will be returned prior to tourney"?

b/c THE FUNDS ARE SEIZED. They are, they are worthless right now. If pstars/ftp/ub decide that they will honor this "digital #'s" in our accounts and pay us back with their EXTRA capital, then he will send your money back. In the meantime, the money is worthless!

Eddie, the thing you aren't getting here is that you are only looking at it from the buyer's perspective of "I didn't do anything wrong, so I can't be at risk to lose," and ignoring the fact that the seller has the exact same perspective - and rightfully so, since neither party actually "did anything wrong!"

The situation is complicated. If nothing else, just note that Cal, who both booked 5 times more of my action than you did contacted me before I even made a single post on the subject to say "I understand that my action is probably canceled, let me know what I need to do to get you more cash to re-book." Tydean, who also has 5% said pretty much the same thing. Other people (Teojidin, emeriaa, etc.) with big shares just acknowledged the cancellation and apologized that they wouldn't be able to re-book.

For my part, I have a **** load of money out in the marketplace too. I am in your shoes too - so when you are saying you don't understand my crazy decisions, at least understand that my thought process is consistent. I PM'd everyone I bought shares of and said I asked for updates and arranged to pay again to re-book if necessary.


Anyway, the bottom line is that whatever people have booked here is canceled and I am making that clear ahead of time. As a seller, I've got a right to cancel action if I want (heck, I even made a provision for it in the OP... I guess this falls under gamboool since I will be taking a much larger % of myself than I'd originally planned). If you still want a percent of me, you're more than welcome to book it with me separately, and we can continue to talk more about your frozen funds if you want.

If you don't want to book an extra %, we can continue to talk about your frozen funds, but that's all we'll be talking about, and whether I win or lose you won't have a percent of the action, and that's fine too.

GoldenBears I pm'd you about shares, interested in .5% or maybe 1% so we can discuss.

Considering Pokerstars' recent statements, and the fact that you had said if you can use your money to buyin action would remain booked, I assume my action and percentages play here.

http://www.pokerstars.com/usaplayers/faq/#live

Yes! What exciting news!

If Stars allows me to use my online funds to buy into the events, then everyone who sent there has their action rebooked no doubt.

Galen ill take 1% if u can take cash in vegas and you have that left.. If u can't/dont want to I understand I just won't be around to get u the cash before then.. Either way gl

I just honored all of the people who already paid, and then sold max the rest of the reserves... it's just way easier that way and the event is coming up and I have such spotty net access it's hard for me to figure much else out.

I'll still have chunks of the 25k hr, hu and maybe 10k turbo left, but I don't think I will sell enough to be able to play in those, so those are probably only gonna get played if I bink in San Remo and decide to take a big chunk of myself.

I am posting here to declare that I am going to honor the $1.8k for 2% that hc82 sent me on UB

On one hand, UB$ is in the same spot that stars/tilt was last week, when I decided to cancel the action. On the other hand, you could argue that black friday happened, but the reason that UB$ is worthless and Stars/Tilt are not is because UB is sketchy, and that's something that we all knew about when I decided I was going to accept UB$ in my OP.

I think it might be fair if you want to agree to pay me half or something if UB dies, but I'm not going to force you to do anything, and I will honor your 2% for now.

Okay, about to play the San Remo main. By my math, here are everyone's shares:

56% Galen
39.6% Max
2.2% cal
0.88% hc82
0.44% apd090
0.44% eddieob
0.44% fightingcoward

You're a good guy, thanks.

I'm fine with paying half if UB doesn't pay you.

Good luck!

Sounds good.

here is my rail thread

Posting to confirm that I am going to buy back 10% of my Main from Max, as I said I was liable to do for the Madrid Events in my OP:

41% Max
3% Cal
3% tydean
1.2% hc82
0.6% Eddieob
0.6% fightingcoward
0.6% apd

Plus:
2% swap with Dylan plus I buy 1%
2% swap with noctus plus I buy 2%
3% swap with cal
I buy 4% of jason

(not that you all care, just posting it here to make it easier on me so I can remember)