Well other than the fact that 0.1 * 11 * 2500 = 2750 which is < 2800 and 11 is larger than the current BTC/USD rate, whereas I never
0.1 and 11 are a simplification of the price at which I acquired the asset and the approximate price of a BTC. If somebody likes precise quantities I am open to that. The problem with ASICMINER shares is that there currently exists no mechanism for price discovery. Which makes valuation of the security in objective terms problematic. heard before of collateral lower than the debt it secures nor rates higher than curent used in the evaluation of that debt, you seem to neglect both the fact that ASICMINER GLBSE shares are worth pretty much zero since GLBSE no longer exists
You seem to forget that GLBSE was the trading platform, it never was the holder of any rights. The funding agreement in this case exists between me and bitfountain. and that the point of collateral in a lending deal is exactly to remove any consideration of your intent to repay in general.
In short, this takes a particular instrument (loan with collateral) and breaks every single characteristic that instrument has.
I kindly disagree. A security is a mechanism to mitigate the risk of the borrower to be unable to pay for unforeseen reasons. It is not a substitute for the intent to pay the debt.In short, this takes a particular instrument (loan with collateral) and breaks every single characteristic that instrument has.
As I mentioned, I also consider selling shares, but valuation is difficult since there is no GLBSE to find the proper free market price.
