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Topic: . - page 36. (Read 67479 times)

legendary
Activity: 2618
Merit: 1007
April 14, 2012, 04:55:24 PM
#33
I also thought about the "bond recycling", but as far as I know, there's no way for you to force users to sell you their shares back. Also you can not just hand out 0.28 BTC as far as I understood, as you want to make your cut by selling 1 BTC shares for > 1 BTC each week.

You could create new shares and keep a buyback offer open, this is exploitable however:
Let's say you sell 2000 shares and 4 weeks later buy back 1877 of them @1.28. You then have an open buy order for 123 shares @1.28. Then, to get back to 2000 shares emitted, you issue 123 more share, totalling to 2123 shares, sell 2000 shares and most likely this buy order will be fulfilled quickly, but not by the sleepyheads that did forget to sell their shares in the first place.

If possible with GLBSE, you could ask them to destroy the shares after paying the final dividend, they might need a way to liquidate assets anyways. Perhaps a feature request for a "liquidate asset" button (paying a final dividend and destroying all shares or returning them all to the issuer) might be in order? Smiley
hero member
Activity: 520
Merit: 500
April 14, 2012, 03:49:55 PM
#32
This is an awesome idea, I plan on buying a few bonds since I'm too late for the Pirate's original offer. GLBSE is inaccessible at the moment (at least I can't get in). But it brings up an interesting question: what is the contingency plan if GLBSE is inaccessible at an inconvenient time, or it (god forbid) data is lost? Do you have some sort of backup plan to get the bitcoins back tot the right people?
Thank you for your interest.  Yes, GLBSE does appear to be down at the moment.  We are working though our contingency plans and will post them when we are done.  For now there is one point to keep in mind:

If for some reason you cannot get in to sell your shares (site down, etc.) and you really need the money remember that PPT is backed by the bitcoins lenders and we will be happy to make you a short term loan using your PPT bonds as collateral.  When the site comes back up you can sell your shares, pay us back and keep the change.


Great!
legendary
Activity: 2618
Merit: 1007
April 14, 2012, 02:16:20 PM
#31
You can then just issue a sell order at 1.28 and let it sit there until we buy it up 28 days later
See, that's also an interesting point:
Will you issue a dividend @ 1.28 per share 28 days later or will you put up a buy order @ 1.28 per share until they all are sold back?

It might be more convenient for shareholders if you pay a dividend and render the shares worthless through this, much less interaction required at least... also it might save you some fees I think.
hero member
Activity: 520
Merit: 500
April 14, 2012, 01:59:45 PM
#30
This is an awesome idea, I plan on buying a few bonds since I'm too late for the Pirate's original offer. GLBSE is inaccessible at the moment (at least I can't get in). But it brings up an interesting question: what is the contingency plan if GLBSE is inaccessible at an inconvenient time, or it (god forbid) data is lost? Do you have some sort of backup plan to get the bitcoins back tot the right people?
legendary
Activity: 1274
Merit: 1004
April 14, 2012, 12:50:35 PM
#29
How close will this hit. My guess is around 1.1? Making 16% interest?

I'm curious as well.  Perhaps a bet is in order?
http://betsofbitco.in/item?id=337
Seems like it's VERY easy to manipulate that bet though - all you need is to place a buy order at 1.1001 or something and you still will make 18 bitcents from the contract as well as win the bet with 100% certainty.
Depends on what the bet means. Is that the highest price that a bond is sold for, or the lowest? If the bet refers to the lowest price that is still accepted, then it would be much more difficult to manipulate.
legendary
Activity: 2618
Merit: 1007
April 14, 2012, 12:04:39 PM
#28
2 AM UTC is quite early in the morning for most of Europe... just for information.

As far as I understood it, you anyways want to have new tickers every week, right? People then can simply reinvest the following week...
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
April 14, 2012, 11:42:45 AM
#27
How close will this hit. My guess is around 1.1? Making 16% interest?

I'm curious as well.  Perhaps a bet is in order?
http://betsofbitco.in/item?id=337
Seems like it's VERY easy to manipulate that bet though - all you need is to place a buy order at 1.1001 or something and you still will make 18 bitcents from the contract as well as win the bet with 100% certainty.

The community seems to be betting that it WILL NOT happen at this moment.
sr. member
Activity: 278
Merit: 250
April 14, 2012, 10:36:25 AM
#26
Is there going to be an exact time for the IPO?
Yes I will get that published here and in the OP as soon as I figure it out.
From the updated OP:  These bond auctions will take place every Saturday morning at 2 AM UTC.  That is every Friday evening at 7 PM PDT, 8 PM MDT, 9 PM CDT, 10 PM EDT




Thank you for clarifying that.

Will the buybacks take place before or after the new auctions?

This is relevant for people who want to roll-over a prior bond to a new one.  I'd suggest doing buybacks first, but there may be some other angle you want to play.
sr. member
Activity: 325
Merit: 250
Our highest capital is the Confidence we build.
April 14, 2012, 08:08:31 AM
#25
Interesting. A nice opportunity for poor us, who arrived very late to Pirate's party...
donator
Activity: 308
Merit: 250
April 14, 2012, 05:16:42 AM
#24
On what date was your account with pirate opened?
legendary
Activity: 2618
Merit: 1007
April 14, 2012, 04:34:51 AM
#23
How close will this hit. My guess is around 1.1? Making 16% interest?

I'm curious as well.  Perhaps a bet is in order?
http://betsofbitco.in/item?id=337
Seems like it's VERY easy to manipulate that bet though - all you need is to place a buy order at 1.1001 or something and you still will make 18 bitcents from the contract as well as win the bet with 100% certainty.
legendary
Activity: 1274
Merit: 1004
April 14, 2012, 12:05:44 AM
#22
Will you announce each week where on the scale of 500 to 2000 bonds you will be, and how far in advance will you announce it.
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
April 13, 2012, 10:58:37 PM
#21
Is there going to be an exact time for the IPO?
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
April 13, 2012, 10:07:23 PM
#20
How close will this hit. My guess is around 1.1? Making 16% interest?

I'm curious as well.  Perhaps a bet is in order?
http://betsofbitco.in/item?id=337
hero member
Activity: 866
Merit: 1001
April 13, 2012, 08:02:18 PM
#19
the current high bid will return 1.23 = 23% in 18 days.

Where do you get 18 days? The assets maturity is May 18.

I'm sure a typo he meant 28. But still good return
hero member
Activity: 518
Merit: 500
April 13, 2012, 08:00:04 PM
#18
the current high bid will return 1.23 = 23% in 18 days.

Where do you get 18 days? The assets maturity is May 18.
vip
Activity: 99
Merit: 15
April 13, 2012, 07:59:01 PM
#17
Bring it on! nice work.
hero member
Activity: 697
Merit: 500
April 13, 2012, 07:51:31 PM
#16
Looks like I'll have to setup a GLBSE account to make my money work for me until I have to pay up on my outstanding loans. Hopefully this will let me pay back faster  Grin
sr. member
Activity: 266
Merit: 250
April 13, 2012, 07:51:22 PM
#15
What's wrong with just issuing a load then paying .28 dividends, not buying back?

Because their margin comes from people bidding higher than 1btc.

Oh, yeah...
Oops.
hero member
Activity: 866
Merit: 1001
April 13, 2012, 07:44:48 PM
#14
What's wrong with just issuing a load then paying .28 dividends, not buying back?

Because their margin comes from people bidding higher than 1btc.
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