Topic: . - page 17. (Read 67411 times)

Warning - there is a 250 Bid at 1.3.  I hope that whoever it is spots it and is not busy sleeping through the auction.

yeah, couple of hours ago there was another one for 1.302 or 1.303 or something close to that, but they promptly fixed that

previously i too almost had a bid for 1.5x with these bonds hehe

expect that it was someone who read my post on the previous page & is just lulzing around, well hope so anyways

edit: lol you're prob right & it's a typo for 1.03 ouch!  

& sure to be filled too, almost worth staying up for to see if they realize  

someone put a bid for 250 PPT.B at 1.3 BTC

^^ do you realize you will lose money with that bid in the end or was that simply a typo?  
bonds mature in 4 weeks and bought back by issuer at 1.28 BTC; no one will give you more than that for them

thank you & note that it's not until 2 am CET that we get funds back from the sell backs, like PPT-C just now, in order to have those funds available for the new issue ~ for which many thanks, the 1.28 very nice  

but I do have other things to do at 2 to 4 am on a Friday night & prefer not to trade too drunk 

Power hours 8 am - 12 pm EST

Yeah even for us in the UK 3 am is too late to be actively involved

Just putting in my bids and then off to bed

may be a shill bid, means nothing until the last few seconds & could be pulled, like the manipulator's walls

edit: or someone else just lulzing around, I could put one in now for 2,000 @ 1.11 or any price - I won't though but owners of say the last issue may have an interest in trying to bump the issue price here of this one

or perhaps it's genuine & some Eurolander who doesn't wish to wait up to 4 AM, like me

The quote you are responding to above was about 20 minutes before your post, 4 minutes before the hour you posted 14 minutes after...

please check your UTC clock, 2AM UTC is about 4 hours from now, not from an hour ago that is if Google doesn't lie to me about UTC time  

PS no wonder i was late to last week's auction - our UTC is out of sync


EDIT: never mind, i apologize, the time i had set on this forum didn't auto switch to account day time saving, got myself out of sync with post's time

Wow, an offer for 1550 at 1.015 - somebody has a lot of trust in you and pirate, hm?

They're sold on Friday. The decision won't be made until Thursday.

Well yeah, but because the last one sold for 120 doesn't mean they've raised 4320 BTC. If the next one sold for 1,000,000BTC it's not like the fund would have 36M BTC backing it. I was wondering more if they actually have the 4320BTC safely stored somewhere or if they were just waiting for PPT.E to be recalled and the bond levels to return to normal.

Well, there's still 36 PPT shares, but the latest price is now 120 BTC. 36 * 120 = 4320 BTC.

Has the insurance been increased to 4320BTC to cover both the decision to increase the number of bonds in each issue as well as the 6000 bonds issued in PPT.D?

At the end of the day the backers of ppt are backing an insurance scheme. If it is worth their while or not is not up to people to decide it is up to them. They are taking he risks and saying if pirate does fold they will pay a percentage of it. It is not up to the rest opus to decide what is an acceptable risk for each of them to take. It may not be good looking at numbers but they are offering the 7% return to people who cannot or do not have access to it.

If the ppt group want to continue to risk their funds to allow other people access to it, it is up to them, but personally I like it.

I don't even play the lottery and casinos seem like a waste of time unless you're doing it for fun as you mention (maybe people watching and drinking beer with friends while ignoring horses race also qualifies), but we've wandered way off topic.  If I wanted to, I could have been all-in with BS&T and made some extra money, but the expected payoff tends to zero, just as it does if you play roulette repeatedly until your stake is gone..

The TL;DR version probably goes:  PPT isn't necessarily the highest paying investment for the guys that put up 4000 in backing coins, and there is a wealth transfer for some people if they snag bonds at a good price.

What I'm trying to say is that the 960 insurance fund has the same risk exposure as your 4000 btc with Pirate directly. And without as much benefit at least for this round. Of course that is assuming you guys will pay up if Pirate defaults. So your 960 btc are lost the same way your 4000 btc are lost if Pirate defaults.


That I can't argue with. Of course there's a fun aspect that's not captured by the math at all. It's why I sometimes play the lottery or play black jack or roulette. I know the odds are against me, but it's fun sometimes.


If there's no default insurance, then it's not the same deal anymore. Anyways, I was just trying to make my point and not really interested in spending 3114 btc.

I do not agree with your analysis.

For a start, I have other demands on funds that have longer term uses other than BS&T.  I reached a point with my deposit some time ago (around 1 March) where I considered 4000 was a sufficient exposure to a single point of failure.
Second, I have a portfolio to manage.  If you were investing and choose to put 100% into one asset, that is simply poor risk management and you need to consider expected returns.
Third, I have several strategies in play, and one is maintaining an overall level of funds in BTC.  Lately I have been retaining additional coins to meet business needs (such as long term finance and other asset purchases), and checking my position I am currently 2715.78 BTC above my preferred position  and partly because I extended a loan to a good friend rather than converting into funds for some of my other hobbies.

What you also fail to include in the strict math sense, is the fun aspect.  It's more interesting to me to be doing some other stuff.  Quite why I would accept 1.038 for more bonds, I am not sure, but if you wish to forward 3114BTC to me and have me pay you 3840BTC in four weeks time having put them into my BS&T account, then feel free to do so (but I have no particular reason to offer 960 coins in the event of a Pirate default) so as you have a deposit address, after all many people have coins with me getting a mere 1.5%/week and they are quite happy with the arrangement.