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Topic: [GLBSE] SHORTING ... paying 50% MORE DIVIDENT - page 6. (Read 9061 times)

legendary
Activity: 1246
Merit: 1016
Strength in numbers
I'd like to borrow up to 2000 shares of FZB. I am willing to do amounts down to 100 shares.

I will pay any dividends issued during the time I am borrowing the shares.

I will pay a monthly fee at the beginning of each month until I return the shares.

You can request your shares back at any time and I will return them within one month but will not pay another monthly fee after your request. I will still pay any dividends.

I will pay GLBSE transfer fees.

Unfortunately I have only a finite amount of bitcoins so I want to give myself an out. I reserve the right to give 10x the btc price of the shares at the time of the loan in place of returning the shares.

donator
Activity: 3108
Merit: 1166
I had some buys filled on giga from that - watching
legendary
Activity: 1330
Merit: 1026
Mining since 2010 & Hosting since 2012
It is safe to say that all those miners are aware of this and have plans in place for that announcement.  I am going to check the charts and see the damage.

-D 
donator
Activity: 588
Merit: 500
I'm pretty sure it is ineededausername.

Then again, think about it, maybe someone knows something I.E. something happened during the move and we haven't heard about it yet. Who knows?

Quote from: #bitcoin-assets
[04:14] hey guys
[04:14] you pressed the wrong button
[04:14] GLBSE is back up
[04:14] no I brought the site down
[04:14] not yet
[04:14] ahh
[04:14] got an email
[04:14] still down for me
[04:14] from a concerned person
[04:15] said that gigamining was crashing and that the server must be hacked
[04:15] heh
[04:15] of course that scared the shit out of me
[04:15] it did
[04:15] so I shut down the server
[04:15] and investigated
[04:15] And?
[04:16] found out who it was that was selling
[04:16] *** Shaded has joined #bitcoin-assets
[04:16] who?
[04:16] And?
[04:16] can't say
[04:16] :/
[04:16] it wasnt me right?
[04:16] confidential don't you know
[04:16] no
[04:16] anyway, I phoned them, they're a fairly big user of GLBSE, big investor
[04:16] but they needed the funds and had to liquidate some assets
[04:17] so it was legit
[04:17] That's one hell of a liquidation
[04:17] yeah they hada very big steak
[04:17] really scared the crap out of me
[04:17] but all is well
donator
Activity: 588
Merit: 500
https://bitcointalksearch.org/topic/bitforce-sc-full-custom-asic-83985

Because if the last news from BFL holds true, the  present mining contracts will be worth nothing in a few months.

What is the news from BFL?
legendary
Activity: 2100
Merit: 1000
Because if the last news from BFL holds true, the  present mining contracts will be worth nothing in a few months.

What is the news from BFL?
hero member
Activity: 518
Merit: 500
Then again, think about it, maybe someone knows something I.E. something happened during the move and we haven't heard about it yet. Who knows?

Quote from: #bitcoin-assets
[04:14] hey guys
[04:14] you pressed the wrong button
[04:14] GLBSE is back up
[04:14] no I brought the site down
[04:14] not yet
[04:14] ahh
[04:14] got an email
[04:14] still down for me
[04:14] from a concerned person
[04:15] said that gigamining was crashing and that the server must be hacked
[04:15] heh
[04:15] of course that scared the shit out of me
[04:15] it did
[04:15] so I shut down the server
[04:15] and investigated
[04:15] And?
[04:16] found out who it was that was selling
[04:16] *** Shaded has joined #bitcoin-assets
[04:16] who?
[04:16] And?
[04:16] can't say
[04:16] :/
[04:16] it wasnt me right?
[04:16] confidential don't you know
[04:16] no
[04:16] anyway, I phoned them, they're a fairly big user of GLBSE, big investor
[04:16] but they needed the funds and had to liquidate some assets
[04:17] so it was legit
[04:17] That's one hell of a liquidation
[04:17] yeah they hada very big steak
[04:17] really scared the crap out of me
[04:17] but all is well
donator
Activity: 588
Merit: 500
Try again tomorrow, it can go only down from here.

did you sell a lot of giga just now?

I think "a lot" would be an understatement.

Other miners were also sold down.

Whoever did this was not very smart... imo...
Did BMF manage to pick any up cheaply?

Considering normal trading activity yes, but I wasn't prepared for several miners getting sold down sharply. Kind of upsetting, I had just invested most of our money, so I didn't have any dry powder lying around. It happens right in front of my eyes and I couldn't buy more.

Quick, buy shares of BMF so I can buy more gigamining.. o_O

I know, it doesn't make sense, just go buy GIGAMINING lol

Then again, think about it, maybe someone knows something I.E. something happened during the move and we haven't heard about it yet. Who knows?
donator
Activity: 588
Merit: 500
Not me, I sold mine yesterday.

did you sell a lot of giga just now?
hero member
Activity: 518
Merit: 500
did you sell a lot of giga just now?

I think "a lot" would be an understatement.

Other miners were also sold down.

Whoever did this was not very smart... imo...
Did BMF manage to pick any up cheaply?
hero member
Activity: 560
Merit: 500
Ad astra.
did you sell a lot of giga just now?

I think "a lot" would be an understatement.

Other miners were also sold down.

Whoever did this was not very smart... imo...

Unlikely; someone wouldn't have invested to sell them like that. Someone needed to pull out very fast - but why?
hero member
Activity: 560
Merit: 500
Ad astra.
did you sell a lot of giga just now?

I think "a lot" would be an understatement.
donator
Activity: 588
Merit: 500
I sold everything. This is why I was thinking about shorting.

Because if the last news from BFL holds true, the  present mining contracts will be worth nothing in a few months.

Is there a way to short bonds on GLBSE? I'm intersted in mining bonds Wink

why don't you just sell mining bonds? that is what i do...

sell them now for something, when they are worthless in a few months, buy them back?
donator
Activity: 588
Merit: 500
Because if the last news from BFL holds true, the  present mining contracts will be worth nothing in a few months.

Is there a way to short bonds on GLBSE? I'm intersted in mining bonds Wink

why don't you just sell mining bonds? that is what i do...
hero member
Activity: 614
Merit: 500
It will be fun to see shorts implemented in GLBSE, but just remember that when you short something you are responsible for paying dividends, too.
hero member
Activity: 518
Merit: 500
Ask if anyone wants to loan you some assets. Come to an agreement as to how much you will pay as a lending fee. After the assets are transferred, sell them. (See https://bitcointalksearch.org/topic/filledwanted-to-borrowpuremining-shares-increase-your-earnings-by-15-76743)

When you want to cover your short, buy back and transfer back to the lender.

I have an idea in the works that allows shorting of mining bonds. I just need to tighten up the contracts a bit. I'll let you know when it's ready.
donator
Activity: 588
Merit: 500
Looking to borrow GIGAMINING, BITBOND bonds.

Paying 50% more dividend as long as I keep the bond. Minimum term two weeks. The first payment will be prorated according with the day I receive the bonds. The payment day is Monday.

For contract terms, I propose using the following form:

"Upon acceptance of this contract, I will transfer (Number) (Name) mining bonds to your GLBSE account.

For as long as you hold the bonds, 1.5 the amount of any dividend these bonds receive goes to (Bitcoin address) within 24 hours of that dividend being paid out by the mining bond.

At any point in time you are allowed to send back any amount of these bonds to my GLBSE account and pay proportionally fewer dividends from that time on. If however the bond issuer paid dividends, but you are within the 24h window, you still have to pay the doubled dividend, even if you transfer the bonds back in that window.

I reserve the right to cancel this agreement and demand to have some or all (number) shares transferred back to my GLBSE account within 28 days (= not 28 business days, but 4 weeks) which are starting as soon as this demand is posted here in this thread by me. As long as the shares are not in my possession, you will still have to pay double dividends.

All payments have to be made via transactions, not via GLBSE transfers, because then they can be verified using the block chain. Should some rules above be broken (which is easily verifiable for anyone using publicly available information) I reserve to take actions including, but not limited to, asking for freezing the GLBSE account where bonds were sent and/or being reimbursed in bonds and/or bitcoin from the receiver of the bonds."
credit for writing this contract go to Sukrim

Thanks.

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