Pirate has said he thinks this will last 6 more months and as a Trust account I will not be at risk to have funds pushed out.
Interesting information, you'd probably want to launch this in the next couple of weeks then.
Topic: (FEEDBACK WANTED) 100% Insured PPT bond (GLBSE) - page 2. (Read 4556 times)
Pirate has said he thinks this will last 6 more months and as a Trust account I will not be at risk to have funds pushed out.
Interesting information, you'd probably want to launch this in the next couple of weeks then.
When can I invest?
You're betting that there won't be a default before the interest you've accumulated equals the premium that you paid. Depending on how you calculate it, that's between 12 and 20 weeks.
...edit: OK, I take that back. It's not quite that simple. Goat can structure this to make a profit with or without a pirate default.
Was just about to correct ya then saw your edit xD.
Looks like there would be some demand... I personally will be sticking with the GIPPT because well... 100% insurance. Although being able to view the escrow coins is attractive.
EDIT: mixed feelings about this as well, does this show confidence in pirate or a lack of?
You're betting that there won't be a default before the interest you've accumulated equals the premium that you paid. Depending on how you calculate it, that's between 12 and 20 weeks.
...edit: OK, I take that back. It's not quite that simple. Goat can structure this to make a profit with or without a pirate default.
Please correct me if am wrong: @ 1.5 per bond and 1 BTC insurance, this is 66.6 % insurance. If I decide to invest in an uninsured PPT that pays 7% weekly instead of 5.5% "insured" and save 0.5 BTC per bond on the side. I would then self insure my bonds by 33.3%. I just can not see any huge deference between self insuring "33.3%" vs your insurance of "66.6%". Cause the 33.3% self insurance would grow weekly by adding the 1.5% to it "the 1.5% that will be lost in your insured PPT".
Bottom line, I don't see any great value in any of the current insured PPT including this one you are about to issue. Personally I found that the best thing about YARR is the daily dividends. However I've sold all my YARR shares and decided to switch to self insuring my PPT bonds "I guess that can easily be done by anyone". I would be interested in insured PPT that can introduce a magical formula, one that can not easily achieved through self insurance. For example 90% insurance: 1 Bond = 1 BTC 90% insured. But that is almost imposible to promis starting from day one. The only solution that I think would solve such problem is to engage mining hardware/hashing power in the insurance. For example 1 PPT bond = 1 BTC and insured by 100 MH/s of ASIC.
Bottom line, I don't see any great value in any of the current insured PPT including this one you are about to issue. Personally I found that the best thing about YARR is the daily dividends. However I've sold all my YARR shares and decided to switch to self insuring my PPT bonds "I guess that can easily be done by anyone". I would be interested in insured PPT that can introduce a magical formula, one that can not easily achieved through self insurance. For example 90% insurance: 1 Bond = 1 BTC 90% insured. But that is almost imposible to promis starting from day one. The only solution that I think would solve such problem is to engage mining hardware/hashing power in the insurance. For example 1 PPT bond = 1 BTC and insured by 100 MH/s of ASIC.
Goat, selling at 1.6 and buying back at 1 would also be a great option if you know that pirate will default in the next few days.
How do you address this?
How do you address this?
On the flip side, if you're eternally optimistic and think that Pirate will pay back all his loans in 2 weeks, it would also be a good sell.
Conversion from TYGRR-P would be of high interest! Do You consider it?
I'm not quite sure how you arrive at 1000%. Should be higher if you count a full 5.5% at "face value," or "only" about 600% if you count it at the sell price (that seems like the more accurate figure to me).
You get .055BTC per bond. At 1.6BTC per bond, that .055BTC buys you .034375 bonds. So if you start a week with one bond in value, you end a week with the value of 1.034375 bonds. There are 52 weeks in a year, and 1.034375^52 = 5.8. So in a year, you go from 1 units to 5.8 units, an increase of 4.8 units. That means the interest rate is 4,800%.1 to 5.8 is a 480% increase, not a 4800% increase.
I'm not so sure I agree with the pricing plan.
YARR pays 1% per day, or 7.214% compounded per week.
This proposed asset would pay 5.5% per week, or a bit over 30% less than YARR.
I suspect both asset issuers are trusted by most of the general population, or at least trusted enough not to hinder purchase of these bonds. Given that, I think the trust difference, if one exists, would have a negligible effect.
YARR's current market price is around ~1.7 BTC. Given that one share of YARR pays the equivalent of 1.31164 shares of this bond, one would conclude that this bond should be priced at around ~1.3 BTC, not ~1.5 to 1.6 BTC.
YARR pays 1% per day, or 7.214% compounded per week.
This proposed asset would pay 5.5% per week, or a bit over 30% less than YARR.
I suspect both asset issuers are trusted by most of the general population, or at least trusted enough not to hinder purchase of these bonds. Given that, I think the trust difference, if one exists, would have a negligible effect.
YARR's current market price is around ~1.7 BTC. Given that one share of YARR pays the equivalent of 1.31164 shares of this bond, one would conclude that this bond should be priced at around ~1.3 BTC, not ~1.5 to 1.6 BTC.
This is wrong, YARR doesn't pay on Sunday. Its 6.15% (1.01^6) compounded per week.
Would you make an offer to convert TYGRR.BOND-P to these new bonds.
Goat, selling at 1.6 and buying back at 1 would also be a great option if you know that pirate will default in the next few days.
How do you address this?
How do you address this?
wrong- he pays 0.055 a week....
My mistake, so it's 0.025 vs 0.055 BTC. And because you can buy about 1.5 Terra bonds for the price of 1 Goat bond, the actual comparison should be 0.0375 vs 0.055 BTC. Seems like Goat is indeed offering a better deal.
Yes, but Goat insures only 1 BTC, at least 0.5 BTC is not covered.
What advantage has this offer over DeadTerra's GIPPT (https://glbse.com/asset/view/GIPPT)?
- Both are 100% insured
- He pays 2.5%, you pay 1.5% a week,
- His IPO price is 1 BTC, yours is 1.5 BTC
- He puts 100% in escrow, you put 75%
I can't seem to find any reason to go for this proposal instead.
- Both are 100% insured
- He pays 2.5%, you pay 1.5% a week,
- His IPO price is 1 BTC, yours is 1.5 BTC
- He puts 100% in escrow, you put 75%
I can't seem to find any reason to go for this proposal instead.
wrong- he pays 0.055 a week....
I'm not quite sure how you arrive at 1000%. Should be higher if you count a full 5.5% at "face value," or "only" about 600% if you count it at the sell price (that seems like the more accurate figure to me).
You get .055BTC per bond. At 1.6BTC per bond, that .055BTC buys you .034375 bonds. So if you start a week with one bond in value, you end a week with the value of 1.034375 bonds. There are 52 weeks in a year, and 1.034375^52 = 5.8. So in a year, you go from 1 units to 5.8 units, an increase of 4.8 units. That means the interest rate is Quote
So it's really more like 60% insured--you take a haircut if default is soon (as I think it may be). But it seems like a relatively attractive product. I don't know why anyone would get YARR if this was available.
I agree. You're betting that there won't be a default (or cessation of operations, or huge interest rate reduction) before the interest you've accumulated equals the premium that you paid. Depending on how you calculate it, that's between 12 and 20 weeks. 
Would be very interested in some of these
The advantage of Goat's bond is that insurance is much more reliable, as most of the coins are visible and stored offline. Goat also has a more established reputation.
All of usagi's bonds (YARR, CPA and NYAN) would suffer when/if pirate defaults. There is no guarantee he would be able to pay back in full.
1.6 is probably too high though. YARR IPO'ed at 1.2 IIRC which was probably too low.
All of usagi's bonds (YARR, CPA and NYAN) would suffer when/if pirate defaults. There is no guarantee he would be able to pay back in full.
1.6 is probably too high though. YARR IPO'ed at 1.2 IIRC which was probably too low.
I'm not so sure I agree with the pricing plan.
YARR pays 1% per day, or 7.214% compounded per week.
This proposed asset would pay 5.5% per week, or a bit over 30% less than YARR.
I suspect both asset issuers are trusted by most of the general population, or at least trusted enough not to hinder purchase of these bonds. Given that, I think the trust difference, if one exists, would have a negligible effect.
YARR's current market price is around ~1.7 BTC. Given that one share of YARR pays the equivalent of 1.31164 shares of this bond, one would conclude that this bond should be priced at around ~1.3 BTC, not ~1.5 to 1.6 BTC.
YARR pays 1% per day, or 7.214% compounded per week.
This proposed asset would pay 5.5% per week, or a bit over 30% less than YARR.
I suspect both asset issuers are trusted by most of the general population, or at least trusted enough not to hinder purchase of these bonds. Given that, I think the trust difference, if one exists, would have a negligible effect.
YARR's current market price is around ~1.7 BTC. Given that one share of YARR pays the equivalent of 1.31164 shares of this bond, one would conclude that this bond should be priced at around ~1.3 BTC, not ~1.5 to 1.6 BTC.
I would get a few of these.
I'm not quite sure how you arrive at 1000%. Should be higher if you count a full 5.5% at "face value," or "only" about 600% if you count it at the sell price (that seems like the more accurate figure to me).
So it's really more like 60% insured--you take a haircut if default is soon (as I think it may be). But it seems like a relatively attractive product. I don't know why anyone would get YARR if this was available.
So it's really more like 60% insured--you take a haircut if default is soon (as I think it may be). But it seems like a relatively attractive product. I don't know why anyone would get YARR if this was available.
Everyone loves 1,000% interest.
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