As you may know, the first emission of CIUCIU.BOND is now live on GLBSE
https://glbse.com/asset/view/CIUCIU.BONDCIUCIU.BOND pays 1.1% of face value every Friday. Percentage will remain at 1.1%/week until the bond is bought back by the bond-issuer. Bonds will be issued at .1 BTC, and each share will pay .0011 BTC weekly. There is no limit on how many bonds may be issued, nor when they may be issued. Bonds can be issued and sold without warning by the bond-issuer at any price. Bonds cannot be sold back to the bond-holder except in case of a buyback. CIUCIU.BND does not have a set date of maturity.
The buyback price is set at 0.1011 BTC per share.
The bond-issuer is not permitted to change this contract at any time under any circumstance.
Thank you.
I won't be able to pay any dividends. All funds were tied up in GLBSE shares. I did not recieve the BTC I had in my account or any shareholders list.
At this moment, after the GIGAMINING episode which will be followed soon by many, I'm afraid I'm in default.
I'm sorry, but the OP didn't say anything about the bond being null if you suffer losses due to a 3rd party service. It says the bond is guaranteed and intended for people who do not want risk.
Delays and disorder due to missing data are acceptable. Default due to losses on GLBSE, GIGAMINING or elsewhere are not.
(I wasn't invested in this. I considered it, but didn't feel right about it in light of
this comment.)