Topic: . - page 2. (Read 11133 times)
The PPT asset transfer is progressing, and I was a little late with the timestamp for this week's sale at 2:00:18 and completed at 2:00:21.
After fees, 3125.399366BTC was realised for deposit.
Compounding should take this to 4096.761019 and after the 3840 buyback, leaves 256.7610186 for distribution (0.0285290 per PPT.DIV share)
After fees, 3125.399366BTC was realised for deposit.
Compounding should take this to 4096.761019 and after the 3840 buyback, leaves 256.7610186 for distribution (0.0285290 per PPT.DIV share)
Ok, which creative PPT.DIV founder decided to advise the Power Unified School District on how to structure debt?
lol - GFC Mk7 in the making (and again from one of the least solvent of counties in the USA). Didn't the US learn anything from cheap credit (i.e. you have to pay it back) Learn to live on the cash you have before borrowing.
In other news, I noticed PokerStars has been more sucessful than the entire Bitcoin economy with their ponzi - even after paying back 30% of their clients funds and $547M to the US government those not in jail walk away with millions.
The deal will end the saga of Full Tilt Poker, a company built by Ray Bitar with the help of poker champions like Chris “Jesus” Ferguson and Howard Lederer that Preet Bharara, the U.S. Attorney in Manhattan, has repeatedly said was a Ponzi scheme. But Bharara’s crackdown on the online poker industry continues, including against Isai Scheinberg, the founder of PokerStars, who has been indicted by Bharara for operating an illegal gambling business. Bitar, who recently returned to the U.S. from Ireland to face the criminal charges Bharara has filed against him, pleaded not guilty and is currently out on bail. Scheinberg is believed to be in the Isle of Man.
http://www.forbes.com/sites/nathanvardi/2012/07/31/pokerstars-will-pay-547-million-to-settle-u-s-government-charges-and-buy-full-tilt-poker/
Ok, which creative PPT.DIV founder decided to advise the Poway Unified School District on how to structure debt?
Actually, one of the reasons I purchased the PPT.x business was to make sure it continued. I have no intention of shutting it down.
It is a nice little cash cow for the owners and serves a market need left open by the other passthroughs with the buyback at a particular date and time along with a decent amount of secured insurance.
Long term yield on equity investments is supposed to be lower then the bond market. For Patrick buying all the shares sounds like a good deal though as he has no counter party risk by being the other party + he knows when/if the business will stop (The DIV shares will be worth zero whenever the business stops and have no claims on any capital).
Actually, one of the reasons I purchased the PPT.x business was to make sure it continued. I have no intention of shutting it down.
Long term yield on equity investments is supposed to be lower then the bond market. For Patrick buying all the shares sounds like a good deal though as he has no counter party risk by being the other party + he knows when/if the business will stop (The DIV shares will be worth zero whenever the business stops and have no claims on any capital).
GLBSE GLBSE @GLBSE
trade:[email protected]:PPT.DIV:1343944773 8m
trade:[email protected]:PPT.DIV:1343944773 8m
Wowzers, now that's a dip. And less than a week after I had to buy back the shares I borrowed to short.
trade:[email protected]:PPT.DIV:1343944773 8m
trade:[email protected]:PPT.DIV:1343944773 8m
Wowzers, now that's a dip. And less than a week after I had to buy back the shares I borrowed to short.
With a dividend of 0.02681571, that's a 7.45-7.66% return, better than Pirate!
Sshhhhhh
GLBSE GLBSE @GLBSE
trade:[email protected]:PPT.DIV:1343944773 8m
trade:[email protected]:PPT.DIV:1343944773 8m
Wowzers, now that's a dip. And less than a week after I had to buy back the shares I borrowed to short.
trade:[email protected]:PPT.DIV:1343944773 8m
trade:[email protected]:PPT.DIV:1343944773 8m
Wowzers, now that's a dip. And less than a week after I had to buy back the shares I borrowed to short.
With a dividend of 0.02681571, that's a 7.45-7.66% return, better than Pirate!
GLBSE GLBSE @GLBSE
trade:[email protected]:PPT.DIV:1343944773 8m
trade:[email protected]:PPT.DIV:1343944773 8m
Wowzers, now that's a dip. And less than a week after I had to buy back the shares I borrowed to short.
trade:[email protected]:PPT.DIV:1343944773 8m
trade:[email protected]:PPT.DIV:1343944773 8m
Wowzers, now that's a dip. And less than a week after I had to buy back the shares I borrowed to short.
I think the issue might actually be the GLBSE fee. Previously you paid the 0.5% fee as the market taker, but if you only sell 1000 bonds in the initial offering at 2am and the other 2000 sit on the market, then you don't have to pay the fee, the buyer would have to cover it. I imagine it would make accounting a nightmare, but as long as they don't sit on the market too long it might actually increase the profits a little.
Yes, this is true. It is to the customer's advantage to buy at the auction/sale time (we pay the fees). It is to our advantage if they wait and buy them from us after the auction/sale time (they pay the fees). So when calculating our expenses you would need to take that into account.How do you handle the bonds not selling immediately in terms of reduced income from Pirate? This is from the main PPT thread.
To tell you all the truth I have not read anything that piotr_n has written for a long time but in order to hopefully eventually stop all this unneeded posting about what you think we may or may not do I will tell you exactly what we actually do:
0) The PPT bond system was created to do two things: a) allow small and very small investors access to most of the full BS&T top rate and b) make a profit for us. I also designed the system with one other design constraint: minimize the amount of weekly cash flow in and out of our BS&T account. In all three regards the system has been a great success. On the third point we have only a very small, usually less than 100 BTC flow in or out of our BS&T account every week.
...
2) Every week we sell 3000 bonds. Per contract we deposit 1.00 BTC per bond sold (3000 x 1 = 3000 BTC) into our BS&T account so that at the end of 27 days and 22 hours we will have enough to pay the interest on the bonds to the bond holders. Now it is true that we make more on this BTC than we pay out. This is called income. The income on this part of the operation is easily calculated by anyone. On each bond sale we make exactly (1.07^4 - 1.28) * 3000 BTC = 92.38803 BTC per week on this part of the operation.
0) The PPT bond system was created to do two things: a) allow small and very small investors access to most of the full BS&T top rate and b) make a profit for us. I also designed the system with one other design constraint: minimize the amount of weekly cash flow in and out of our BS&T account. In all three regards the system has been a great success. On the third point we have only a very small, usually less than 100 BTC flow in or out of our BS&T account every week.
...
2) Every week we sell 3000 bonds. Per contract we deposit 1.00 BTC per bond sold (3000 x 1 = 3000 BTC) into our BS&T account so that at the end of 27 days and 22 hours we will have enough to pay the interest on the bonds to the bond holders. Now it is true that we make more on this BTC than we pay out. This is called income. The income on this part of the operation is easily calculated by anyone. On each bond sale we make exactly (1.07^4 - 1.28) * 3000 BTC = 92.38803 BTC per week on this part of the operation.
So please clarify this to your investors ...
The six of us cover the two hour time period out of our own pockets. This is actually a pain for us and we have discussed moving the redemption to right after the sale, but it is one of the things our customers explicitly asked for so we will continue to do it.It appears from the numbers that you are covering the gap out of your own pockets. A quick calculation for the last PPT.C shows
Profit = (3000*ASP - 0.005*Bonds Sold Immediately)*1.07^4 - 3000*1.28 = (3000*1.04153861 - 0.005*1462)*1.07^4 - 3000*1.28 = 246.152
Dividend = 246.152/9000 = 0.02735
That's only 0.16% off from the actual dividend, so I would assume my numbers are correct minus whatever other small expenses there are.
Are the six of you going to continue covering this expense out of your own pocket? My understanding is that Pirate calculates interest hourly, so the lost interest vs selling them immediately would be close to 25BTC for the PPT.C bond issue.
This has turned out to be a compound bug, when an asset is sent incorrectly to another account (this only happens when sending to an asset issuers account) it's put into an account without any owner, kind of in nomans land. It's an obscure bug that has effected two people thus far, annoying but not fatal (no one loses anything).
When the buyback happened the amount was for the full number of shares but only the full number -1 (the share in nomansland) could be paid resulting in the payment error.
I'll be getting the "lost" asset returned in the morning and they'll get the dividend they missed as a result of this.
Nefario.
When the buyback happened the amount was for the full number of shares but only the full number -1 (the share in nomansland) could be paid resulting in the payment error.
I'll be getting the "lost" asset returned in the morning and they'll get the dividend they missed as a result of this.
Nefario.
Anyone know why there was only 8999 shares of PPT.DIV payed today?
Code:
Payment date | Total paid | Shares paid | Payment per share
2012-05-21 07:56 142.8984 9000 0.0158776
2012-05-28 08:33 260.34921 9000 0.02892769
2012-06-04 09:01 239.38182 9000 0.02659798
2012-06-11 13:11 383.01264 9000 0.04255696
2012-06-18 07:22 1065.56859 9000 0.11839651
2012-06-25 20:13 221.33925 9000 0.02459325
2012-07-02 12:07 331.92765 9000 0.03688085
2012-07-09 08:43 253.75932 9000 0.02819548
2012-07-16 08:59 201.67010972 8999 0.02241028
2012-05-21 07:56 142.8984 9000 0.0158776
2012-05-28 08:33 260.34921 9000 0.02892769
2012-06-04 09:01 239.38182 9000 0.02659798
2012-06-11 13:11 383.01264 9000 0.04255696
2012-06-18 07:22 1065.56859 9000 0.11839651
2012-06-25 20:13 221.33925 9000 0.02459325
2012-07-02 12:07 331.92765 9000 0.03688085
2012-07-09 08:43 253.75932 9000 0.02819548
2012-07-16 08:59 201.67010972 8999 0.02241028
Yes I think it's my fault. I have lost a PPT.DIV in the system. I had someone send a test amount (just 1) and followed the transfer instruction wrong. Anyway, I still haven't got it returned to my account yet. Not heard back from Nefario about it either, but I have reported it twice.
Would you guys be willing to go through the accounting on one of the previous sales to show how you arrive at the exact value for the dividends? I keep track of them after the sale in a spreadsheet, but I can never get the numbers to quite match up and unmatching numbers bug me. 
The best/most detailed explanation is given here: https://bitcointalksearch.org/topic/--76594 You should be able to get very close with this. The only thing you do not know is the expenses. Note that the fees paid to GLBSE are 0.5% of the sale. Also, in the earlier bonds we had other expenses, for example the five listing fees, etc.
I think the issue might actually be the GLBSE fee. Previously you paid the 0.5% fee as the market taker, but if you only sell 1000 bonds in the initial offering at 2am and the other 2000 sit on the market, then you don't have to pay the fee, the buyer would have to cover it. I imagine it would make accounting a nightmare, but as long as they don't sit on the market too long it might actually increase the profits a little.
Would you guys be willing to go through the accounting on one of the previous sales to show how you arrive at the exact value for the dividends? I keep track of them after the sale in a spreadsheet, but I can never get the numbers to quite match up and unmatching numbers bug me.
When I paid the dividends I noticed the bug and reported it to GLBSE.
Darn bitcoiners can see solutions. Stop being so good at maths.
Anyone know why there was only 8999 shares of PPT.DIV payed today?
Code:
Payment date | Total paid | Shares paid | Payment per share
2012-05-21 07:56 142.8984 9000 0.0158776
2012-05-28 08:33 260.34921 9000 0.02892769
2012-06-04 09:01 239.38182 9000 0.02659798
2012-06-11 13:11 383.01264 9000 0.04255696
2012-06-18 07:22 1065.56859 9000 0.11839651
2012-06-25 20:13 221.33925 9000 0.02459325
2012-07-02 12:07 331.92765 9000 0.03688085
2012-07-09 08:43 253.75932 9000 0.02819548
2012-07-16 08:59 201.67010972 8999 0.02241028
The insurance is not free and we never said it was free - our customers pay for the insurance. You have made your point in all of our threads, several times, we get it.
That's great. I'm glad that after 2 days we finally got to some common conclusion.I'm done with this topic, like I was done with it already 2 days ago, after making my point the first time.
Unless someone else wants so express his opinion about how stupid and misinforming I am? In which case I am happy to continue with him...
Because no matter how many times I have made my point, don't expect me to sit quiet while I am being insulted by some moron or a crook.
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