The TEEK.B pre-sale shares at .9 have all been sold. If you were one of the lucky ones that got them, congrats, they will be transferred to you as soon as they are released.
Unfortunately, I have had very little response on TEEK.A. I want to shake things up a little on TEEK.A, to encourage a couple longer term investors. I will change the pre-sale price of TEEK.A to .9 BTC as well.
It is clear the demand for TEEK.B is pretty high, but there is only so many bonds I can sell with that kind of return, so those will have to be fairly limited. If I were to offer another bond at .01 BTC per week, is there any interest?
Topic: [GLBSE] TEEK Funds - crowdsourced loans / p2p economics. NEW: TEEK.USD - page 6. (Read 8600 times)
May 07, 2012, 09:56:54 AM
May 07, 2012, 09:51:52 AM
TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis.
Can you elaborate on this? What's to stop you telling us the venture fell through and walking away with the money?
I think my reputation is pretty good and I want to keep it that way. If I did that, I wouldn't be very welcome in the community or on GLBSE i'd imagine. In any case, the funds will not be tied to any one venture, so some pretty serious shit would have to happen for this scenario to become active. In most cases it would probably make more sense for me to take the hit without saying anything, or just call the loan and take the hit and wind up.
Sorry, I didn't state that clearly. Rest assured I'm not by any means challenging your reputation.
It just seems to me that, because you are not revealing the nature of your investments, if you state that one or all crashed, the investors have no way to verify that whatever you invested in did actually collapse instead of you just fabricating a story. Chances are you wouldn't do that, and I'm not suggesting you would, but in general the concept of being able to walk away with the money without significantly damaging your reputation scares me.
I understand what your saying, but under the circumstances I think all I can say is no I wouldn't do that, but it is called high risk for a reason. I mean even if I was lying, at these rates you could almost price it in.
All kidding aside, if I did have to claim a default, I would be making public the reasons why and I guess people would have to make up their own mind. However, my word stands that this is offered truly on a best effort basis which means default is a last resort only to be used if things really go bad.
May 06, 2012, 10:45:07 PM
TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis.
Can you elaborate on this? What's to stop you telling us the venture fell through and walking away with the money?
I think my reputation is pretty good and I want to keep it that way. If I did that, I wouldn't be very welcome in the community or on GLBSE i'd imagine. In any case, the funds will not be tied to any one venture, so some pretty serious shit would have to happen for this scenario to become active. In most cases it would probably make more sense for me to take the hit without saying anything, or just call the loan and take the hit and wind up.
Sorry, I didn't state that clearly. Rest assured I'm not by any means challenging your reputation.
It just seems to me that, because you are not revealing the nature of your investments, if you state that one or all crashed, the investors have no way to verify that whatever you invested in did actually collapse instead of you just fabricating a story. Chances are you wouldn't do that, and I'm not suggesting you would, but in general the concept of being able to walk away with the money without significantly damaging your reputation scares me.
May 06, 2012, 10:17:47 PM
I noticed that there are three of your IPOs on their way in GLBSE. Besides TEEK.A and TEEK.B, I saw TEEK. Is it like PPT.x vs PPT? If so, could we invest in this one and share the return rates of not TEEK.x's, but yours? Thanks.
The TEEK asset will not be traded, at least not in the foreseeable future.
May 06, 2012, 09:35:31 PM
I noticed that there are three of your IPOs on their way in GLBSE. Besides TEEK.A and TEEK.B, I saw TEEK. Is it like PPT.x vs PPT? If so, could we invest in this one and share the return rates of not TEEK.x's, but yours? Thanks.
May 06, 2012, 08:33:43 PM
TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis.
Can you elaborate on this? What's to stop you telling us the venture fell through and walking away with the money?
I think my reputation is pretty good and I want to keep it that way. If I did that, I wouldn't be very welcome in the community or on GLBSE i'd imagine. In any case, the funds will not be tied to any one venture, so some pretty serious shit would have to happen for this scenario to become active. In most cases it would probably make more sense for me to take the hit without saying anything, or just call the loan and take the hit and wind up.
May 06, 2012, 07:22:26 PM
TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis.
Can you elaborate on this? What's to stop you telling us the venture fell through and walking away with the money?
May 06, 2012, 05:16:09 PM
Best of luck with these funds.
Sub
Sub
May 06, 2012, 03:32:34 PM
TEEK.A pays out at rates worse than a 1 MH/s bond currently (1 bond = ~0.005 BTC/week) but with difficulty increases that might change of course. It'll still take some time until this becomes more profitable than mining bonds though...
TEEK.B sounds really interesting on the other hand.
Also gratulations on not offering the majority of bonds as "pre sale" for people who might just dump their shares once enough asks are there.
TEEK.B sounds really interesting on the other hand.
Also gratulations on not offering the majority of bonds as "pre sale" for people who might just dump their shares once enough asks are there.
May 06, 2012, 03:27:14 PM
The IPO is May 10th at 9AM GLBSE Time.
I have issued 10,000 TEEK.A, and 2000 TEEK.B assets.
2000 TEEK.A are available for pre-sale at .9 BTC each.
500 TEEK.B are available for pre-sale at .9 BTC each. These have all been sold!
PM me if interested. Shares will be available on IPO day but not at crazy discounts like these!
teek
I have issued 10,000 TEEK.A, and 2000 TEEK.B assets.
2000 TEEK.A are available for pre-sale at .9 BTC each.
PM me if interested. Shares will be available on IPO day but not at crazy discounts like these!
teek
May 06, 2012, 02:33:23 PM
reserved.
May 06, 2012, 02:32:59 PM
Q & A
-----
Q: Who are you?
A: I am debating getting verified on GLBSE. For now I can tell you, I am an advocate of Bitcoin, Cryptocurrency, Net Neutrality, Free Speech, and am of an extremely liberal mindset socially, but I am a capitalist at heart. Might be a bit of a weird combination, but thats just me
There are a handful of people on the forum who know me in real life, and there is another handful which I have had successfull transactions with. I have never had a bad transaction.
Q: Why should we invest in you?
A: The Bitcoin community is growing pretty rapidly which we all want to see. What is REALLY going to make Bitcoin grow is outside profits coming in, which is what I intend to do. For starters, between all my ventures I have figured out I am paying nearly $2,000 per month in interest related costs and fees. That's alot of BTC that could be coming back into the community. I also hold a net worth of over 2000 BTC in the Bitcoin world and run a sizable mining operation. I have a positive / somewhat significant net worth in the real world and a decent credit score.
Q: You don't want to disclose the investments you make / where the BTC goes, why not?
A: Mostly out of simplicity, there isn't anything to hide, but I am not an accountant, and my accountant isn't going to manage this for me. I also do not want to compromise my own privacy or the privacy of others I do business with, I do not think it is worth it. If you cannot deal with that, you probably shouldn't be buying this asset.
Q: If you are bringing profits into the Bitcoin economy, doesn't that mean you are using the BTC raised by converting some or all of it to fiat currency, thus risking your ability to re-pay should the value of Bitcoin go up against USD/EUR etc.
A: Some of the BTC will be converted to fiat. However, I believe in BTC and hedge my portfolio from a holistic viewpoint with a mandate of increasing BTC holdings. I hold a significant amount of BTC in reserve.
-----
Q: Who are you?
A: I am debating getting verified on GLBSE. For now I can tell you, I am an advocate of Bitcoin, Cryptocurrency, Net Neutrality, Free Speech, and am of an extremely liberal mindset socially, but I am a capitalist at heart. Might be a bit of a weird combination, but thats just me
There are a handful of people on the forum who know me in real life, and there is another handful which I have had successfull transactions with. I have never had a bad transaction.Q: Why should we invest in you?
A: The Bitcoin community is growing pretty rapidly which we all want to see. What is REALLY going to make Bitcoin grow is outside profits coming in, which is what I intend to do. For starters, between all my ventures I have figured out I am paying nearly $2,000 per month in interest related costs and fees. That's alot of BTC that could be coming back into the community. I also hold a net worth of over 2000 BTC in the Bitcoin world and run a sizable mining operation. I have a positive / somewhat significant net worth in the real world and a decent credit score.
Q: You don't want to disclose the investments you make / where the BTC goes, why not?
A: Mostly out of simplicity, there isn't anything to hide, but I am not an accountant, and my accountant isn't going to manage this for me. I also do not want to compromise my own privacy or the privacy of others I do business with, I do not think it is worth it. If you cannot deal with that, you probably shouldn't be buying this asset.
Q: If you are bringing profits into the Bitcoin economy, doesn't that mean you are using the BTC raised by converting some or all of it to fiat currency, thus risking your ability to re-pay should the value of Bitcoin go up against USD/EUR etc.
A: Some of the BTC will be converted to fiat. However, I believe in BTC and hedge my portfolio from a holistic viewpoint with a mandate of increasing BTC holdings. I hold a significant amount of BTC in reserve.
May 06, 2012, 02:31:22 PM
Hello fellow Bitcoiners!
I just want to draw your attention to the first a new set of assets I am launching on the GLBSE - TEEK Funds.
The first two TEEK assets will be a set of loans / bonds which will pump some of my profits back into the Bitcoin economy. As some of you may know, I do own several businesses and am involved in various profitable projects. I have been self employed in the Information Technology sector since 2005, and though that enables me to live comfortably, I have also made money on real estate and all types of other business ventures. Some of you may have followed another GLBSE asset which is a joint venture I am involved in, Blockminers (BMMO), which is currently the oldest mining company on the GLBSE, and has always paid it's dividends on time and without fail.
I often find myself with a problem that many of us face. I miss out on oportunities to make more profits because my capital is tied up in other ventures, or my current options for obtaining spot financing are too time consuming or prohibitively costly with bad terms.
I'd pretty much say I am overlooked by the traditional banking system as many of us are. The system is truly set up so the rich get richer, the poor stay poorer, and the middle class pays for it all. Well one guy can't change the system, but ideas like Bitcoin, Crowdsourcing, and P2P Decentralization, we can all see are changing the way people think.
I hope to solve this problem in this very untraditional, but very cool manner, and I hope that the Bitcoin community allows me to do so.
The contracts for TEEK.A and TEEK.B below.
TEEK.A
------------
TEEK.A is an interest bearing loan or bond. The funds generated from this loan will be used to finance low risk business ventures. This loan guarantees no loss of principal to the bond holder, the risk is carried soley by the issuer.
The specific investments which the funds are used for will not be disclosed, but the nature of the investments are disclosed as corporate acquistions, operating lines of credit, real estate transactions, and other above board legitimate uses which return a profit.
Each bond issued will have a face value of 1 BTC and will receive an interest payment or dividend of .003 BTC per week. Dividends will be paid every Sunday. You must hold the bond at the exact time of dividend payment to be entitled to the dividend.
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.
This loan can be called at any time. If the loan is called, the issuer will place a bid of 1 BTC for every oustanding 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. **
TEEK.B
------------
TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis.
The specific investments which the funds are used for will not be disclosed.
Each bond issued will have a face value of 1 BTC and will receive an interest payment or dividend of .03 BTC per week. Dividends will be paid every Sunday. You must hold the bond at the exact time of dividend payment to be entitled to the dividend.
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.
This loan can be called at any time. If the loan is called, the issuer will place a bid of 1 BTC for every oustanding 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. **
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. **
I just want to draw your attention to the first a new set of assets I am launching on the GLBSE - TEEK Funds.
The first two TEEK assets will be a set of loans / bonds which will pump some of my profits back into the Bitcoin economy. As some of you may know, I do own several businesses and am involved in various profitable projects. I have been self employed in the Information Technology sector since 2005, and though that enables me to live comfortably, I have also made money on real estate and all types of other business ventures. Some of you may have followed another GLBSE asset which is a joint venture I am involved in, Blockminers (BMMO), which is currently the oldest mining company on the GLBSE, and has always paid it's dividends on time and without fail.
I often find myself with a problem that many of us face. I miss out on oportunities to make more profits because my capital is tied up in other ventures, or my current options for obtaining spot financing are too time consuming or prohibitively costly with bad terms.
I'd pretty much say I am overlooked by the traditional banking system as many of us are. The system is truly set up so the rich get richer, the poor stay poorer, and the middle class pays for it all. Well one guy can't change the system, but ideas like Bitcoin, Crowdsourcing, and P2P Decentralization, we can all see are changing the way people think.
I hope to solve this problem in this very untraditional, but very cool manner, and I hope that the Bitcoin community allows me to do so.
The contracts for TEEK.A and TEEK.B below.
TEEK.A
------------
TEEK.A is an interest bearing loan or bond. The funds generated from this loan will be used to finance low risk business ventures. This loan guarantees no loss of principal to the bond holder, the risk is carried soley by the issuer.
The specific investments which the funds are used for will not be disclosed, but the nature of the investments are disclosed as corporate acquistions, operating lines of credit, real estate transactions, and other above board legitimate uses which return a profit.
Each bond issued will have a face value of 1 BTC and will receive an interest payment or dividend of .003 BTC per week. Dividends will be paid every Sunday. You must hold the bond at the exact time of dividend payment to be entitled to the dividend.
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.
This loan can be called at any time. If the loan is called, the issuer will place a bid of 1 BTC for every oustanding 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. **
TEEK.B
------------
TEEK.B is an interest bearing loan or bond. The funds generated from this loan will be used to finance high risk business ventures. This loan is not guaranteed and is provided on a best effort basis.
The specific investments which the funds are used for will not be disclosed.
Each bond issued will have a face value of 1 BTC and will receive an interest payment or dividend of .03 BTC per week. Dividends will be paid every Sunday. You must hold the bond at the exact time of dividend payment to be entitled to the dividend.
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.
This loan can be called at any time. If the loan is called, the issuer will place a bid of 1 BTC for every oustanding 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. **
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. **
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