I will release all available shares at once, in about 2 hours from now. 1100 EDT or there abouts.
Is this now ?
I asked Nef to add GLBSE-time to the site, will be less confusing.
Topic: [GLBSE] BFLS - Bitcoin Mining & Sales - page 10. (Read 17925 times)
Is this now ?
I asked Nef to add GLBSE-time to the site, will be less confusing.
More IPO fun for GLBSE 
I will release all available shares at once, in about 2 hours from now. 1100 EDT or there abouts.
Sweet, let the games begin. 
I will release all available shares at once, in about 2 hours from now. 1100 EDT or there abouts.
I'd encourage you to release the shares in one shot - there are enough orders out there to buy most of the shares.
Yes, a big dump would be fun.
Well, and honestly its a lot less annoying than sitting around refreshing GLBSE all day to see if your shares were purchased or if you need to adjust your bids.
Inaba,
At what time is this thing being released?
Thanks,
gigavps
At what time is this thing being released?
Thanks,
gigavps
Is that something GLBSE dictates or is it when I transfer them out of the holding portfolio onto the market? I really wish there was some documentation on GLBSE!
If it's the latter, I will start issuing shares between 0900 and 1100 CST and release them slowly throughout the day, likely around 170 shares at a time.
I'd encourage you to release the shares in one shot - there are enough orders out there to buy most of the shares.
Yes, a big dump would be fun.
Inaba,
At what time is this thing being released?
Thanks,
gigavps
At what time is this thing being released?
Thanks,
gigavps
Is that something GLBSE dictates or is it when I transfer them out of the holding portfolio onto the market? I really wish there was some documentation on GLBSE!
If it's the latter, I will start issuing shares between 0900 and 1100 CST and release them slowly throughout the day, likely around 170 shares at a time.
I'd encourage you to release the shares in one shot - there are enough orders out there to buy most of the shares.
When you need to get new hardware, you just release new shares at market price, setting the price per share of the hardware accordingly. That way you don't dissolve the existing shares and you get the capital you need for the hardware.
You can't do that, because you are diluting the worth of the previous investors' shares until the new hardware arrives. That's why you need a self-contained entity (a "sub-asset") until the new hardware arrives. Then you can merge everything together.
Why not buy them yourself then when they come in release more shares?
Is that something GLBSE dictates or is it when I transfer them out of the holding portfolio onto the market? I really wish there was some documentation on GLBSE!
If it's the latter, I will start issuing shares between 0900 and 1100 CST and release them slowly throughout the day, likely around 170 shares at a time.
I haven't done any issuing in GLBSE, but I'm guessing you can sell them at will. I'm certain it was that way in the old system. Also, about offering 170 at a time, have you looked at the number of open buy orders? I am guessing you can just go ahead and issue them all at once, with the highest bidders getting the shares. I'm pretty sure there's no way you can sell to a lower bidder unless you take payment outside of GLBSE with a limit per person and then transfer the shares to the appropriate accounts (where those buyers may well then sell to the highest bidder in GLBSE, earning money you could have fairly received). You might want to do a low number at a time and keep looking at the buy orders to make sure there's not a big order taking them all, but even then, what can you do if there is (and as such, why worry about it)? If it's the latter, I will start issuing shares between 0900 and 1100 CST and release them slowly throughout the day, likely around 170 shares at a time.
(2) Inaba issues a seperate, temporary stock each time he wishes to order more hardware. A share of this asset "guarantees" the buyer a share of BFLS upon receipt of the hardware by Inaba. He raises enough money, purchases the hardware, issues new BFLS shares, transfers shares to those who bought the temporary stock, and finally deletes the temporary stock. Crude, and I don't know what Nefario would think of this, but AFAIK it should work.
This could be done with a subasset. Theoretically, you could sell the subasset and then when the time comes, transfer 1 BFLS share per subasset share to each account that transfers you subassets. This is assuming that GLBSE shows this information on the frontend. It does show where dividends come from, so I imagine it shows what account transfers come from as well. Inaba,
At what time is this thing being released?
Thanks,
gigavps
At what time is this thing being released?
Thanks,
gigavps
Is that something GLBSE dictates or is it when I transfer them out of the holding portfolio onto the market? I really wish there was some documentation on GLBSE!
If it's the latter, I will start issuing shares between 0900 and 1100 CST and release them slowly throughout the day, likely around 170 shares at a time.
You're right. As a long term investor I wouldn't care too much about a few dividend payments a little diluted. I know it would be compensated in the long term. But I understand that it would be an issue for some people. Yes, a "sub-asset" which can be merged would be the ideal solution, but I don't think glbse can do that by now. Maybe Nefario can implement something like that...
Since, as Nefario stated, GLBSE does not support that function, seems we need another approach.
I can think of two options off the top of my head:
(1) Inaba pre-sells shares before they are released to interested parties (larger volumes only). This gives him sufficient capital to buy the hardware and he then issues the shares once the hardware arrives, transferring shares to those who pre-bought accordingly.
(2) Inaba issues a seperate, temporary stock each time he wishes to order more hardware. A share of this asset "guarantees" the buyer a share of BFLS upon receipt of the hardware by Inaba. He raises enough money, purchases the hardware, issues new BFLS shares, transfers shares to those who bought the temporary stock, and finally deletes the temporary stock. Crude, and I don't know what Nefario would think of this, but AFAIK it should work.
Can those assets be folded back into the main one at some point or are they a totally separate entity and they just happen to share a common portion of a name? And is there a $40 fee per subasset as well?
Sub assets are totally separate entities and share only part of the name.
They cannot be rolled back into the main asset.
Creation fees are still the same.
When you need to get new hardware, you just release new shares at market price, setting the price per share of the hardware accordingly. That way you don't dissolve the existing shares and you get the capital you need for the hardware.
You can't do that, because you are diluting the worth of the previous investors' shares until the new hardware arrives. That's why you need a self-contained entity (a "sub-asset") until the new hardware arrives. Then you can merge everything together.
You're right. As a long term investor I wouldn't care too much about a few dividend payments a little diluted. I know it would be compensated in the long term. But I understand that it would be an issue for some people. Yes, a "sub-asset" which can be merged would be the ideal solution, but I don't think glbse can do that by now. Maybe Nefario can implement something like that...
Inaba,
At what time is this thing being released?
Thanks,
gigavps
At what time is this thing being released?
Thanks,
gigavps
When you need to get new hardware, you just release new shares at market price, setting the price per share of the hardware accordingly. That way you don't dissolve the existing shares and you get the capital you need for the hardware.
You can't do that, because you are diluting the worth of the previous investors' shares until the new hardware arrives. That's why you need a self-contained entity (a "sub-asset") until the new hardware arrives. Then you can merge everything together.
I think that the easiest and cleaner way would be managing everything under the same asset. When you need to get new hardware, you just release new shares at market price, setting the price per share of the hardware accordingly. That way you don't dissolve the existing shares and you get the capital you need for the hardware. Other companies manage this kind of things in this way. Maybe you also can use motions to know what existing shareholders think about the proposals...
Could you plz explain further how sub-assets are implemented? Can the owner merge them with the main asset when he chooses to?
Can those assets be folded back into the main one at some point or are they a totally separate entity and they just happen to share a common portion of a name? And is there a $40 fee per subasset as well?
To create a sub asset you just create the asset as normal, the only difference is the assets name.
So lets say your base asset is GLBSE and you want to create a sub asset called BOND
you would name the new asset GLBSE.BOND
Only the owner of GLBSE could create GLBSE.BOND
So lets say your base asset is GLBSE and you want to create a sub asset called BOND
you would name the new asset GLBSE.BOND
Only the owner of GLBSE could create GLBSE.BOND
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