Topic: [Cryptostocks] Bitbond 200Gh/s 105% PPS mining bond - Relaunched - page 16. (Read 38728 times)

Thanks Gigavps for the kind words and congratulations on your very successful IPO!

I cannot speak highly enough of amazingrando.

Our business dealings have always be flawless and his communication is top notch. This second wave coming out on Monday is a REAL opportunity to get in on a big mining operation. I have personally bought BITBOND and know that he is the real deal.

Keep up the great work amazingrando!

Hi everyone!

I was happy to pay our first coupon payments today for first round investors - the first of many many more to come. 

This is my first time using GLBSE to make payouts, but it seemed to calculate everything correctly.  You should see a payment of 0.00313828 btc for each 2 Mh/s coupon you hold.  Let me know if there were any issues.

Next payout will be on Saturday

Two Announcements:

1) I have announced that the next round of bond will be available for purchase 9AM Pacific Time on Monday 4/9.  Price will be announced before the offering and will reflect current trading price and other factors, but likely will be similar to the first round

2) A competing offering was announced by Gigavps.  Bitbond offers 105% PPS (instead of 100% PPS), faster ROI, and twice as high of a buyback premium.  Thus I expect Bitbonds to not only be more lucrative in payouts but also command a higher trading price over time.

As some of you may have noticed, there have been some ads running on the forum for Bitbond. 

I will be announce a firm second round bond sale date and price soon.

Best of luck on Round #2

Thanks Brendio for the sanity check.  Your suggestion on the pricing is a good one. If it does take longer than a day I'll probably follow that strategy

I didn't read your post above thoroughly, but it seems like that will work. Pay out the coupons before releasing more.

Also, if the newly released shares don't sell within a day, you could always increase the price by an amount equal to that day's earning, meaning people buying later pay more, but still get the full week's earning. This is similar to how an efficient market prices bonds during the coupon period. For example, a $100 with $2 accrued, but unpaid, interest would sell for around $102, all else being equal.

Update: Firm details can now be found in the payouts post

Initial Coupon Payment Announcement

The first week of mining begins on Saturday, April 7 at 2PM Pacific Time (UTC -8).

The second round of bonds available for sale will occur after the first mining week starts, sometime during that first week.  This poses a problem of how to pay coupon payouts for the first mining week.  Investors from the first round will be due a full week's payment on April 14.  Investors from the second round will not have been invested for the entire week and thus are due a pro-rated amount.

To my knowledge there is no way to distinguish in GLBSE during which round a particular investor invested (if someone knows of a way, please let me know).  Accordingly, I plan to structure the first week's payouts as follows:

First round investors:
I will pay a payout before the second round bonds are put up for sale.  It will include the time from when the mining week begins through the first day that the second round of bonds is up for sale.

For example, if the second round is available for sale on Tuesday, 4/10 then I will make a payout on 4/9 for the mining rewards starting from the mining week starting (4/7 at 2PM) through 11:59PM Tuesday, 4/10.  In this example, 105% of PPS x your hashrate x 3 days and 10 hours.

First round investors will receive a second payout for the remainder of the week's mining earnings on 4/14

Second round investors
Based on the first round offering, I expect the second round to sell out quickly - mostly likely within a day.  Assuming that, I will pay second round investors their first payout on 4/14.  Their first payment will be for the period of the day after the second round is offered until the end of the first mining week.  

For example, if the second round is available for sale on Tuesday, 4/10 then mining earnings will start on 4/11.  I will make a payout on 4/14 for the mining rewards from 12:00AM 4/11 until the end of the mining week (4/14 at 1:59PM)

Yes, the terminology is a little confusing.  "Issued" seems to imply sold, it just means created.  Offering them for sale is separate.

Thanks for that explanation. On the GLBSE posting under "Total Shares Issued" it lists 10000, which I assumed meant they all had been issued on the 1st go round. But we all know what happens when you assume... 

There were 10,000 bonds created at 2 Mh/s, representing 20Gh/s total.  The first round was 1/2 of that, 5000 bonds making 10Gh/s.  That sold out very quickly.  The second round is the other half of the offering, the other 5000 bonds making 10Gh/s.

The returns (2Mh/s per bond paid weekly as 105% PPS) will be the same whether you bought in the first round or second.

For the next round are you going to issue another 10000 shares that represent an additional 20 Gigahash making it 40 Gigahash total? Or will they be issued toward the initial 20 Gigahash, lowering the returns? Or am I completely wrong and misunderstanding how this works? haha

Short answer
I'm targeting Sunday 4/8 or Monday 4/9

Long answer
I've been waiting to get an ad up on the forums.  The current auction round for ad space ends on 4/9, but I wanted to run it earlier.  It looks like I might be able to run an ad sooner, potentially starting as early as today.  Once it's up I would want it to run a few days and build up more awareness before starting the next issue.  I will be out of town on Saturday, so Sunday or Monday is looking like a good timeframe.

Do you have an ETA on the next issue?

I will probably align it with the most the trading price on GLBSE at the time I release the second set of shares, which as I write this is 0.6125

lol.

What is the IPO price per share of the second wave? I want to get some purchases ready!

Damn son, that isn't scalping, that's chopping off the whole head.

Dammit, can't you leave an honest scalper a few hours of peace and quiet to do his job? 

It's already started!  lol