I wonder if it is a better to pay a percentage of all redemption requests in the queue rather than go in order. The way it is now it means some people will get all their money back and others will get totally screwed. People don't know whether they are going to get 100% or 0% which creates a panic causing people to sell at a huge loss. For example, if everyone in the queue knew they would currently get, say at least 90% then the market could stabilize.
I think also that dividends should be paid in the meantime. The money is still going to the investors. Lack of dividends is just going to cause everyone to dump shares! That said, ukyo has been 2 days late several times before. I am not jumping to the conclusion that dividends have stopped unless I hear from him.
I think also that dividends should be paid in the meantime. The money is still going to the investors. Lack of dividends is just going to cause everyone to dump shares! That said, ukyo has been 2 days late several times before. I am not jumping to the conclusion that dividends have stopped unless I hear from him.
Yes, I agree that it could be better to pay a percentage of all redemption requests in the queue. That's why I'm asking for numbers so we can decide for ourselves. The holders of bonds should vote what to do.
Your argument on dividend assumes that he can afford to redeem almost 100% of face value and dividends for as long as there are unredeemed bonds. I hope it's true but I don't really know. If there is a risk he can't afford to do that, then I don't care about dividends at all. In that case the only thing I care about is the amount of BTC he gives for every redeemed bond.
If I get my bonds redeemed faster with no dividends rather than risking it and possibly receiving a lot less than face value later, then I vote for no dividends.
Well to put things in perspective, dividends cost him 1 btc a day. The total value of all issued shares is 2,000 btc. Even if he pays dividends for a month while he redeems, that's only 30 btc. And he isn't paying dividends on the redeemed shares of course. I don't think that extra couple of btc will slow him down too much. But stopping dividends without any explanation will cause everyone to try to request redemption. As long as there are still dividends there will be some people that will hold on to shares making the redemption queue shorter.
Regardless of what he decides to do, I think we need to get more information regarding his economic situation and planned timeframe. As long as bitfunder and weexchange are still active he still has money. Nothing short of a personal bankruptcy will stop him from redeeming shares. There are shareholders with large enough holdings that I'm sure they would sue in the situation where it looked like he totally defaulted.
