Topic: [FIMB] Fixed-Interest-Mining-Bond on BTC-TC - page 2. (Read 8382 times)

A vague contract and then instantly doubling the monthly coupon just for the heck of it?

Regardless of your history and experience, you have to understand this raises eyebrows.

So 26.8% APR (compounded)

Valid point. I will easily be able to up the rate to 2% monthly. Change made.

I have over 20,000 Avalon ASIC chips on order, and am working closely with a board developer to produce boards that will allow us to overclock the chips far above the clockrate they're being shipped at in the Avalon-spec miners. ~350mh/s per chip is the current projection.

Graet is about the most trustworthy guy around here and he is paying 20% annual with daily coupons.

After all the BS you have pulled lately you really think people will lend to you at better terms than that?

"Um..... Mining stuff" is hardly transparent.

1. To the bondholder, you are right that it does not matter what the funds are being used for, so long as the interest is paid. I am publicly announcing exactly what the funds will be used for for the sake of transparency and nothing more.
2. See TF's post.

He renamed create I think:

oZoNo voted YES with comment: Note that this is more like a kickstarter-scenario than a business. There is no plan to generate income. -- odolvlobo

Yep, that's right.

1. What does this have to do with mining?
2. How is your asset approved so quickly and with less than 5 votes?

Reserved.

Also, I know the asset is currently mislabeled "stock". It will be moved to the bond category soon.

Previous mining bonds have all had a hashpower-denominated face value. This is simply not a feasible way to value an asset due to the ever-growing bitcoin difficulty. The said difficulty increases render the traditional bonds nearly worthless, making the asset a great way for the issuer to make a quick buck, and certainly not having the investor's best interest in mind. A fixed interest bond will solve the problem by guaranteeing the investor a return, and that is exactly what I am offering here.

Updated contract:
Offered is a fixed-term, fixed-interest, callable and puttable mining bond that has a face value of 0.01, and upon the sale of the initially issued 10,000 bonds, pays a fixed two percent (2%) interest on the first day of each month. The bond matures three (3) years from the date of issuance: Wednesday, July 1st, 2015. The bond can be repurchased by the issuer at any time for 102% of the face value, and can be sold back to the issuer at any time for 90% of the face value. The issuer can issue additional bonds at any time.

The first 10,000 bonds will be put up for sale on Saturday, June 29th at 8:00 AM PST.

https://btct.co/security/FIMB

This has been talked about a lot in the past, and people have shown a great deal of interest in this type of bond. This can easily be categorized as a "set-and-forget" asset, because you know exactly what will come of it Any constructive criticism is appreciated as always!

Let's get mining!

--Garrett

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