Topic: [GLBSE] TEEK Funds - crowdsourced loans / p2p economics. NEW: TEEK.USD - page 3. (Read 8600 times)
July 29, 2012, 01:24:22 PM
Thanks teek for your great service
July 29, 2012, 01:11:42 PM
Interest paid!
Today was the first interest payment for TEEK.USD, the BTCUSD rate used for todays calculation was 8.79516
teek
Today was the first interest payment for TEEK.USD, the BTCUSD rate used for todays calculation was 8.79516
teek
July 22, 2012, 01:11:18 PM
Interest paid!
July 22, 2012, 10:25:37 AM
TEEK.USD is live!
July 19, 2012, 09:58:39 PM
TEEK.USD PRE-IPO - best deal around at .105 BTC, lock in the rate!
July 19, 2012, 12:15:09 PM
bump for TEEK.USD
July 18, 2012, 11:10:44 AM
TEEK.USD pre-sale updated to .105 BTC per bond.
July 17, 2012, 09:13:53 AM
Would you accept Mt Gox USD for pre-IPO shares?
Yes.
July 17, 2012, 07:53:18 AM
Would you accept Mt Gox USD for pre-IPO shares?
July 16, 2012, 03:07:41 PM
The IPO for TEEK.USD has been approved by GLBSE and is now listed on the IPO's page.
https://glbse.com/ipo/164
It will IPO on July 22nd at approx 12:00 CST. Due to the asset being pegged to USD, the price at IPO time will vary.
I will accept pre-orders of 500 units or more at .1175 BTC per unit for a limited time. I reserve the right to change the pre-ipo price as I see fit with currency fluctuation and the price will not be locked-in until I have received the BTC for your order.
7000 are available for pre-ipo sale, please PM me if interested.
teek
https://glbse.com/ipo/164
It will IPO on July 22nd at approx 12:00 CST. Due to the asset being pegged to USD, the price at IPO time will vary.
I will accept pre-orders of 500 units or more at .1175 BTC per unit for a limited time. I reserve the right to change the pre-ipo price as I see fit with currency fluctuation and the price will not be locked-in until I have received the BTC for your order.
7000 are available for pre-ipo sale, please PM me if interested.
teek
July 15, 2012, 10:24:23 PM
What is this loan for? Where do the dividends come from? Etc.
Basically, the loan will be used to facilitate transactions in my businesses that may otherwise be too risky due to BTCUSD fluctuation. This means that the exact uses of the funds will vary, but are guaranteed no matter what happens to them. The dividends come from my existing businesses, but if TEEK.USD is successful it will allow me to make my existing business more efficient as well as make business more profitable and less risky overall.
July 15, 2012, 08:13:23 PM
What is this loan for? Where do the dividends come from? Etc.
July 15, 2012, 04:28:23 PM
Hi guys! Another week of interest paid!
Have a new issue for you all to look at, it may not be for everyone, but it is yet another very interesting experiment and might be something someone has been looking for!
TEEK.USD
-------------------
TEEK.USD is an interest bearing loan or bond pegged to USD. Each bond has a face value of ONE UNITED STATES DOLLAR (USD) worth of Bitcoin at Mt. Gox's BTCUSD 24h weighted average rate.
This loan / bond guarantees no loss of principal to the bond holder, the risk is carried solely by the issuer, and it's face value does not fluctuate from $1.00 USD.
This loan / bond is pegged to USD but all transactions will take place in Bitcoin, at the Mt. Gox BTCUSD 24h weighted average rate, USD will be rounded to two decimal places, and BTC will be rounded to 8 decimal places.
A $0.01 USD (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) interest payment will be paid to each bond every Sunday. You must hold the bond at the exact time of interest payment to be entitled to the interest.
For example: For a weighted average of $7.53959 a rate of $7.54 would be used. A interest payment of $0.01 USD @ BTCUSD rate of $7.54 would be, 1 / 7.54 = 0.13262599 BTC x $0.01 USD = 0.00132626 BTC per bond.
A minimum liquidity level will be established. Each week, on the Sunday interest day, a bid of $1.00 USD per bond (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) will be placed for a minimum of 5% of the outstanding bonds.
This loan / bond can be called at any time. If the loan / bond is called, the issuer will place a bid of $1.05 USD per bond (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) for every outstanding bond. Interest for the weekly period will be paid out on a pro-rated basis.
** This asset does not represent ownership of any company or organization and has no voting rights. **
Questions / comments - would love to hear em!
teek
Have a new issue for you all to look at, it may not be for everyone, but it is yet another very interesting experiment and might be something someone has been looking for!
TEEK.USD
-------------------
TEEK.USD is an interest bearing loan or bond pegged to USD. Each bond has a face value of ONE UNITED STATES DOLLAR (USD) worth of Bitcoin at Mt. Gox's BTCUSD 24h weighted average rate.
This loan / bond guarantees no loss of principal to the bond holder, the risk is carried solely by the issuer, and it's face value does not fluctuate from $1.00 USD.
This loan / bond is pegged to USD but all transactions will take place in Bitcoin, at the Mt. Gox BTCUSD 24h weighted average rate, USD will be rounded to two decimal places, and BTC will be rounded to 8 decimal places.
A $0.01 USD (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) interest payment will be paid to each bond every Sunday. You must hold the bond at the exact time of interest payment to be entitled to the interest.
For example: For a weighted average of $7.53959 a rate of $7.54 would be used. A interest payment of $0.01 USD @ BTCUSD rate of $7.54 would be, 1 / 7.54 = 0.13262599 BTC x $0.01 USD = 0.00132626 BTC per bond.
A minimum liquidity level will be established. Each week, on the Sunday interest day, a bid of $1.00 USD per bond (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) will be placed for a minimum of 5% of the outstanding bonds.
This loan / bond can be called at any time. If the loan / bond is called, the issuer will place a bid of $1.05 USD per bond (in bitcoin at the Mt. Gox BTCUSD 24h weighted average rate) for every outstanding bond. Interest for the weekly period will be paid out on a pro-rated basis.
** This asset does not represent ownership of any company or organization and has no voting rights. **
Questions / comments - would love to hear em!
teek
July 08, 2012, 03:37:47 PM
those sweet, sweet dividends... 
July 08, 2012, 03:32:50 PM
Happy sunday 
July 08, 2012, 02:46:22 PM
Interest paid!
July 04, 2012, 11:16:27 AM
I hope you feel this is reasonable.
Very reasonable. It would be good to see some more action in this bond so investors can more easily get in and out. In the absence of that, the liquidity mechanism helps.Yeah, I would like to see some more action on this bond too.. I have tons of capacity right now on the TEEK.A side, could be doing a lot more..
July 04, 2012, 10:52:14 AM
I hope you feel this is reasonable.
Very reasonable. It would be good to see some more action in this bond so investors can more easily get in and out. In the absence of that, the liquidity mechanism helps. July 04, 2012, 10:17:27 AM
TEEK.A is available at a significant discount quantities of 100 bonds or more, please PM me or contact me on IRC as "teek" as I will be hanging around there now too.
teek
teek
July 04, 2012, 10:14:16 AM
Interest paid!
Is the minimum liquidity clause of the contract still active?
Quote
A minimum liquidty level will be established. Each week, on the Sunday dividend day, a bid of 1 BTC per bond will be placed for a minimum of 5% of the outstanding bonds.
I ask, because there is a sell order at 1.0 BTC that's been there for a while, and the number of bonds for which dividends have been paid has remained constant for the last three weeks' payments.
Hi Brendio - Yes its still active, assuming we are talking about TEEK.A my current ask of .95 does overlap it though, thus I have been filling anything lower than my current ask of .95 when I go to pay interest.
teek
Fair enough, I guess I should have had some kind of other condition in there to avoid situations where I am buying for higher than I am selling.. I think an argument could be made that I don't necessarily have to buy them from the issuing account, but I do not want to cause any problems. To simplify things I have removed my ASK of .95 and bought the last 3 weeks worth of shares from the (now best) ASK of 1.0. I hope you feel this is reasonable.
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