[GLBSE] BIB.PIRATE -- Bitcoin Investment Bank Pirate Bonds 4.75 % wkly from 20/8

guruvan

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Quote from: brendio on September 26, 2012, 01:03:05 AM

I've noticed that trading has been suspended. See this post for the closest that comes to an announcement: https://bitcointalksearch.org/topic/m.1218273 I believe I can still pay dividends in the event that funds are returned by pirateat40.

Yeah. It's not delisted, so it will work as normal, minus active trading. I have reduced my exposure to GLBSE over this and the Goat delisting issue.

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I have not been contacted by the SEC and am not a US resident or citizen.

awesome. that's good to know.

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I'm not sure how useful it would be, but I could convert holdings to a private deposit if people transfer assets to my user account (brendio:BIB.PIRATE) and provide a GPG-signed statement of holding to clients to pass on to pirateat40 if they think it will help their cause. As I am unlikely to receive any material benefit from this action, and don't want to be inundated with 1000s of requests, I will charge a flat rate 1 BTC fee for this service.

Cool. Not sure how useful that may be. I'll think about this option, and may wish to convert one of the holdings over & bet on both horses. Not sure a payout is likely enough to justify the 1 btc expense Wink

brendio

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Quote from: guruvan on September 25, 2012, 05:01:49 PM

Well...what's the news (and did you see goat's boat in cambodia? lol)

Have you been contacted by the SEC?

Are you a US resident or citizen?

Are you willing to take a list of bondholders to pirate (if bondholders wish)
-ofc, they pretty much have to be willing to share the info with you

Do you have any way to verify the ownership of shares with GLBSE, once the owners have reported them to you? i.e. will GLBSE certify a users' holdings? (MPEx is so much easier for this!)

I have a bunch of both FOO.PPPT and BIB.PIRATE - might as well make sure it's all squared up in case there's a miracle and pirate pays.

I've noticed that trading has been suspended. See this post for the closest that comes to an announcement: https://bitcointalksearch.org/topic/m.1218273 I believe I can still pay dividends in the event that funds are returned by pirateat40.

I have not been contacted by the SEC and am not a US resident or citizen.

I have no way to verify ownership of GLBSE securities, other than have shares transferred to me. I suggest you contact nefario and he may be able to provide a statement of holdings.

I'm not sure how useful it would be, but I could convert holdings to a private deposit if people transfer assets to my user account (brendio:BIB.PIRATE) and provide a GPG-signed statement of holding to clients to pass on to pirateat40 if they think it will help their cause. As I am unlikely to receive any material benefit from this action, and don't want to be inundated with 1000s of requests, I will charge a flat rate 1 BTC fee for this service.

guruvan

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Activity: 532

Merit: 500

Well...what's the news (and did you see goat's boat in cambodia? lol)

Have you been contacted by the SEC?

Are you a US resident or citizen?

Are you willing to take a list of bondholders to pirate (if bondholders wish)
-ofc, they pretty much have to be willing to share the info with you

Do you have any way to verify the ownership of shares with GLBSE, once the owners have reported them to you? i.e. will GLBSE certify a users' holdings? (MPEx is so much easier for this!)

I have a bunch of both FOO.PPPT and BIB.PIRATE - might as well make sure it's all squared up in case there's a miracle and pirate pays.

brendio

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Activity: 518

Merit: 500

Quote from: btharper on August 29, 2012, 05:22:27 PM

As for what Pirate returns (and if of course, there's a lot of uncertainty) I would expect Brendio to pay back what he receives from pirate (interest and possibly principle (since they'll probably be mixed somewhat) subject to his existing cut (as always per contract). For exact details you'll have to wait for him to chime in. What an unfortunate time to be busy Undecided

But such is life

Thanks btharper for the update, and I think this pretty much sums up my approach. Any principal received shall be returned in full. Any interest shall be in the proportion 6.75/7.

For now, it's still a waiting game.

Greetings from Cambodia, by the way.

btharper

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Merit: 250

Quote from: lord on August 29, 2012, 06:36:56 AM

Quote

Bitcoin Savings & Trust has hereby given notice of default to it's account holders.
At his time, all Pirate Pass-Thru operators are required to submit a list of their sub-accounts including; balance, forum / IRC name (or any other way of linking and confirming the account) and Bitcoin withdraw address. Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.
Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.
Principal and interest payments are subject to review.
No timeline or further information is available at this time.

Is there already any solution for the forced buy back when pirate likes to pay out directly?
What if for example i do buy BIB.Pirate Fonds now?
Will i get the par value when pirate pays back?
Did you already send him a list?

Goat and Nefario have spoken about this in the tygrr.bond-p thread and bond issuers (Goat in that case, Brendio in this case) do not have access to the full list of who owns what and Nefario is neither legally permitted (under UK law, where he's based) or willing to disclose this information. Legally speaking the thoughts (again from Goat's thread) are that the bond issuer on GLBSE is the only person who has contract with Pirate, and the only one who's information needs to be shared (and pirate of course already has all the information he should need).

As for the current state of things, so far as I can tell anyone can continue trading pirate's debt on the open market. I believe Pirate has every intention of returning something, the exact amount at this point is pure speculation (See above quote "Principal and interest payments are subject to review").

As for what Pirate returns (and if of course, there's a lot of uncertainty) I would expect Brendio to pay back what he receives from pirate (interest and possibly principle (since they'll probably be mixed somewhat) subject to his existing cut (as always per contract). For exact details you'll have to wait for him to chime in. What an unfortunate time to be busy Undecided

But such is life

lord

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Activity: 44

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Quote

Bitcoin Savings & Trust has hereby given notice of default to it's account holders.
At his time, all Pirate Pass-Thru operators are required to submit a list of their sub-accounts including; balance, forum / IRC name (or any other way of linking and confirming the account) and Bitcoin withdraw address. Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.
Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.Payments will be processed directly by Bitcoin Savings & Trust to Pirate Pass-Thru sub-accounts upon verification and cleared of any outstanding conditions.
Principal and interest payments are subject to review.
No timeline or further information is available at this time.

Is there already any solution for the forced buy back when pirate likes to pay out directly?
What if for example i do buy BIB.Pirate Fonds now?
Will i get the par value when pirate pays back?
Did you already send him a list?

brendio

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Activity: 518

Merit: 500

I will be heading into the Black Forest tomorrow. I'm not sure whether I will have internet access or not. On the weekend, I will be staying with friends and should have access again, but I would also like to catch up with them and not be checking my bitcoin client every 5 minutes to see whether pirate has returned the funds, so there may be delays, depending on when it occurs.

brendio

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Activity: 518

Merit: 500

Quote from: MrTeal on August 21, 2012, 11:31:53 PM

Can you comment on your plans for this issue in the event that Pirate actually pays everyone back Brendio?
How would it proceed, with a bid wall, transfer to you, GLBSE's forced buyback feature, etc.
Would you return whatever Pirate pays you per bond with interest, share+interest-0.0025, etc?

Thanks

At this stage, I think the forced buyback feature would be the best option, but would need to talk to Nefario about the finer details.

Yes, prorated interest received would also be paid.

Brendio.

MrTeal

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Can you comment on your plans for this issue in the event that Pirate actually pays everyone back Brendio?
How would it proceed, with a bid wall, transfer to you, GLBSE's forced buyback feature, etc.
Would you return whatever Pirate pays you per bond with interest, share+interest-0.0025, etc?

Thanks

brendio

hero member

Activity: 518

Merit: 500

For those who have not heard, pirate has decreased the rates on deposits in BS&T and so accordingly, rates on BIB.PIRATE will be decreasing to 4.75% weekly from after next week's dividend payment.

brendio

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Activity: 518

Merit: 500

Quote from: brendio on August 12, 2012, 03:51:51 AM

Just a quick heads up that I will travelling tomorrow around the time pirate's payout usually comes. Hence, I will bring forward the cutoff time for wholesale deposits/redemptions to 8 am UTC. I should be able to access internet at a friend's place where I will be staying, but if that doesn't work out I may need to visit an internet cafe and payments could be expected on Tuesday. Just giving forewarning so there is no panic if I am out of contact.

Regards,
Brendio.

Internet funktioniert gut so I was able to make the dividend payment in a timely fashion and process a withdrawal request.

brendio

hero member

Activity: 518

Merit: 500

Just a quick heads up that I will travelling tomorrow around the time pirate's payout usually comes. Hence, I will bring forward the cutoff time for wholesale deposits/redemptions to 8 am UTC. I should be able to access internet at a friend's place where I will be staying, but if that doesn't work out I may need to visit an internet cafe and payments could be expected on Tuesday. Just giving forewarning so there is no panic if I am out of contact.

Regards,
Brendio.

brendio

hero member

Activity: 518

Merit: 500

This week's dividends have been paid.

brendio

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Dividends have now been sent.

gabbynot

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Activity: 341

Merit: 250

Bueller?

guruvan

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Activity: 532

Merit: 500

Nothing yet. Sad

sarpar

member

Activity: 100

Merit: 10

so what's the news? has it gone through?

August 01, 2012, 12:21:42 AM EDIT:
Must have been one of these really long shifts... No offence but you could at least state whether you got something from the pirate.
Someone just sold for 1.0 BTC...

brendio

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Update: I have got Internet working and am catching up on the block chain, but need to leave in about 20 minutes. I should be able to make payments tonight when I get back. Sorry everyone for any inconvenience.

brendio

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Activity: 518

Merit: 500

Quote from: brendio on July 27, 2012, 07:05:43 AM

Hi all, just a quick note to let you know that over the next couple of days I will be travelling to Europe, so I may be a bit slow responding to PMs. I should be back on line in time for the next cut off and interest payment, but please take this into account if you wish to make a deposit so that you can get a deposit address in time.

I've arrived in Europe but am having issues getting the Internet to work on my computer. I am writing this from my phone. I'm not able to see whether pirate's payment has gone out.

I'm also severely jet-lagged so it is probably best that it waits until I am again able to think straight.

brendio

hero member

Activity: 518

Merit: 500

Hi all, just a quick note to let you know that over the next couple of days I will be travelling to Europe, so I may be a bit slow responding to PMs. I should be back on line in time for the next cut off and interest payment, but please take this into account if you wish to make a deposit so that you can get a deposit address in time.

Topic: [GLBSE] BIB.PIRATE -- Bitcoin Investment Bank Pirate Bonds 4.75 % wkly from 20/8 (Read 12172 times)