Topic: Auction for a bitcoin bond (Read 8674 times)

I did sell some of these 96.1 BTC and then bought others at a lower price.

But I could have used my own bitcoins.

So to tell you the truth, it was much more of a proof of concept that I wanted to make.

Might be usefull for my reputation if I have to borrow bitcoins in the future, though.

grondilu, I'd be interested to hear if you made profitable use of the coins in the time that you held them, or if this was just an experiment that cost you 3.9 BTC.

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Maturity has almost been reached (current latest block is 119998)
Here is the hash of the paiement transaction:

00ebc0bfbc8074b75f3b09cf8b546eef64e27a2d6222f76ed40c8b49615500ad

>-----BEGIN PGP SIGNED MESSAGE-----
>Hash: SHA1
>
>mpkomara won the auction and I acknowledged paiement in due time.
>
>He provided me the following  bitcoin address:
>1EWMwa7GEj4V5x1BF67pJq68HHbHB4qXMc
>
>This bitcoin address will be used to pay the nominal at maturity.
>> -----BEGIN PGP SIGNED MESSAGE-----
>> Hash: SHA1
>>
>> As a proof of concept, I hereby launch an auction for a bitcoin bond.
>>
>> This means that I promess to pay a certain amount of bitcoin (called "nominal"), at a certain date (called "maturity").  The nominal is 100 BTC.  Maturity will occur at block number 120,000.
>>
>> I sell this bond in an auction process that will occur on this thread.  To bid, just post a message with your bid in bitcoins.  Auction will end at block number 116,000.  Paiement should then be done within 10 blocks.
>>
>> No starting price, but if at the end I'm not happy with the final winning bid, I will cancel the auction.
>>
>> If selling does occur, I will materialize it with a GnuPG signed document where I will mention whe nominal, the maturity and the bitcoin address where the nominal should be paid at maturity.
>>
>> Happy bidding!
>> -----BEGIN PGP SIGNATURE-----
>> Version: GnuPG v1.4.11 (GNU/Linux)
>>
>> iEYEARECAAYFAk2UNq0ACgkQq17371C4DmhQIQCg86UwjCUt0q8iyojsOXUI7juB
>> BpsAn2UtxuFqtXpLPwedvnYap+m2wrx9
>> =qC0c
>> -----END PGP SIGNATURE-----
>-----BEGIN PGP SIGNATURE-----
>Version: GnuPG v1.4.11 (GNU/Linux)
>
>iEYEARECAAYFAk2U0doACgkQq17371C4Dmi42wCeI/odd75ulRfscbg5lllnSYW/
>OTYAnA8Ec616wA/JFV3y7qRBVsm37HgA
>=8+9B
>-----END PGP SIGNATURE-----
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (GNU/Linux)

iEYEARECAAYFAk20r64ACgkQq17371C4Dmg7wwCcD4+og03O6wNZlKzjZr5Dk0G6
BBIAoL8ZcgHTf6utteGXt0SYe+YPVPIA
=6C0i
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I agree.  For those who haven't seen the thread, there are some interesting ideas about how to operate a Bitcoin lending website at https://bitcointalksearch.org/topic/new-wiki-page-on-bitcoin-credit-5027

I would love to make such a site, but already have too many irons in the fire

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

mpkomara won the auction and I acknowledged paiement in due time.

He provided me the following  bitcoin address:
1EWMwa7GEj4V5x1BF67pJq68HHbHB4qXMc

This bitcoin address will be used to pay the nominal at maturity.
> -----BEGIN PGP SIGNED MESSAGE-----
> Hash: SHA1
>
> As a proof of concept, I hereby launch an auction for a bitcoin bond.
>
> This means that I promess to pay a certain amount of bitcoin (called "nominal"), at a certain date (called "maturity").  The nominal is 100 BTC.  Maturity will occur at block number 120,000.
>
> I sell this bond in an auction process that will occur on this thread.  To bid, just post a message with your bid in bitcoins.  Auction will end at block number 116,000.  Paiement should then be done within 10 blocks.
>
> No starting price, but if at the end I'm not happy with the final winning bid, I will cancel the auction.
>
> If selling does occur, I will materialize it with a GnuPG signed document where I will mention whe nominal, the maturity and the bitcoin address where the nominal should be paid at maturity.
>
> Happy bidding!
> -----BEGIN PGP SIGNATURE-----
> Version: GnuPG v1.4.11 (GNU/Linux)
>
> iEYEARECAAYFAk2UNq0ACgkQq17371C4DmhQIQCg86UwjCUt0q8iyojsOXUI7juB
> BpsAn2UtxuFqtXpLPwedvnYap+m2wrx9
> =qC0c
> -----END PGP SIGNATURE-----
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (GNU/Linux)

iEYEARECAAYFAk2U0doACgkQq17371C4Dmi42wCeI/odd75ulRfscbg5lllnSYW/
OTYAnA8Ec616wA/JFV3y7qRBVsm37HgA
=8+9B
-----END PGP SIGNATURE-----

1EWMwa7GEj4V5x1BF67pJq68HHbHB4qXMc

@vanadroiy:  i would have paid more, but don't forget counterparty risk.  in this case, grondilu has very good credit.

ok I acknowledge paiement.  Please post your bitcoin address on this thread so I can sign it along with the bond terms.

A website that manages loans like this might be a good idea for a project. It could calculate the appropriate starting bid and bond amount based on the specified minimum loan amount and maximum interest rate. I'd certainly be interested in loaning to reputable individuals. It might be fun.

It *is* the normal way

It should be, anyway.


@mpkomara:

I'm waiting for your paiement.  Please also provide me your bitcoin address here in this thread.

Hey, nice thread to measure traders' expectations.

Looks like people expect an inflation of BTCs in the near future. Almost everyone would rather have less than 100 BTC now than 100 BTC later.

Might be an indicator for traders to sell some BTC. Maybe I should have waited with my selling offer... on the other hand, maybe the traders only didn't appear because the amount is too low? Who knows~

mpkomara beat me at the last moment.

This is an interesting way to get a loan. It seems much more effective than the normal way.

mpkomara wins the auction with 96.1 BTC

Paiement should be on this bitcoin address:

13HL9oCYx3JcYAqqm8E5wJe1MgZTP9wKeP

Please provide me a bitcoin address for paying you back 100 BTC at maturity.


Sorry for other bidders.  Had I known there would be that many people interested, I would have ended the auction on IRC.

96.1

96

Just post your bid and I'll lock the thread once I see block 116,000

95.64

95.63

95.62 bid (i will buy 5 such bonds)

Vladimir leads at 95.61

mpkomara leads at 95.6 BTC

(One block left)