Its a financial product created by Ranchi Mall based on BitCoin prices. Currently offered in a very limited scale to iron out the procedures.
For first time customers, you basically invest 100 USD or Rs 7000. All of proceeds are used to buy BitCoins. And you get 13 percent annual assured returns. In addition you also get price protection against downside risk. And 50 percent of all price gains belong to you .. The rest 50 percent is owned by Ranchi Mall. There is a 3 year lockin period.
There is limitations in number of clients we accept because Ranchi Mall has to block its capital to assure returns.
In order to prevent it being used for money laundering and terrorist financing, the names of bondholders and amounts invested are public.
You can find entire history in http://facebook.com/ranchimall
Topic: Hard Fork issue .. Ranchi Mall opinion - page 2. (Read 1657 times)
What exactly is this bitcoin bond?
Never heard of this before either.
I'd like to know more about the same too.
What exactly is this bitcoin bond?
"To all investors of Ranchi Mall BitCoin bonds issue"
BitCoin prices have fallen below 1000 USD. All BitCoin bond holders should treat their bonds as 12/13 percent annual rate of interest bearing instruments at invested amounts right now
These instruments have full price protection, and minimum return guarantees.
Furthermore Ranchi Mall is taking over minimum guarantee requirements in 1057 series bonds from Deepa Khanapurkar. All other terms and conditions remain the same in that series including distribution of profit arrangements.
The current price fall is due to a more fundamental reason than previous price falls that occured due to Chinese government intervention and non-approval of ETF by SEC. There is a split in BitCoin movement itself, with one faction wanting to change underlying technology, and other faction wanting to keep it same. The faction that wants to keep things same was dominant till now, but the other faction called BitCoin Unlimited is gaining more support. The faction which gets 51 percent support wins. BitCoin founder Satoshi Nakamoto whom I consider a genius had a mechanism to solve such issues. That mechanism has never been used till now, and a lot of people including those in BitCoin core group have no idea how will it work out. They feel an unstructured break can happen, which is called "Hard Fork". This uncertainty is causing the price fall.
But of course no such hard fork will happen. The moment BitCoin Unlimited gains 51% of mining support, they will be the new masters, and they will decide the shape of underlying technology. And current leaders, the BitCoin Core group will fade into oblivion. BitCoin design is so strong that I do not consider hard fork issue anything more than temporary fear
So this in our view is a temporary price fall. Ranchi Mall holds onto its belief that BitCoins is one of the best investible assets around, and given enough time, 3 years in our opinion, the superiority of BitCoins as an asset class will amply be clear. We have coded that expectation as a 3 year lock-in period for our investors.
BitCoin prices have fallen below 1000 USD. All BitCoin bond holders should treat their bonds as 12/13 percent annual rate of interest bearing instruments at invested amounts right now
These instruments have full price protection, and minimum return guarantees.Furthermore Ranchi Mall is taking over minimum guarantee requirements in 1057 series bonds from Deepa Khanapurkar. All other terms and conditions remain the same in that series including distribution of profit arrangements.
The current price fall is due to a more fundamental reason than previous price falls that occured due to Chinese government intervention and non-approval of ETF by SEC. There is a split in BitCoin movement itself, with one faction wanting to change underlying technology, and other faction wanting to keep it same. The faction that wants to keep things same was dominant till now, but the other faction called BitCoin Unlimited is gaining more support. The faction which gets 51 percent support wins. BitCoin founder Satoshi Nakamoto whom I consider a genius had a mechanism to solve such issues. That mechanism has never been used till now, and a lot of people including those in BitCoin core group have no idea how will it work out. They feel an unstructured break can happen, which is called "Hard Fork". This uncertainty is causing the price fall.
But of course no such hard fork will happen. The moment BitCoin Unlimited gains 51% of mining support, they will be the new masters, and they will decide the shape of underlying technology. And current leaders, the BitCoin Core group will fade into oblivion. BitCoin design is so strong that I do not consider hard fork issue anything more than temporary fear
So this in our view is a temporary price fall. Ranchi Mall holds onto its belief that BitCoins is one of the best investible assets around, and given enough time, 3 years in our opinion, the superiority of BitCoins as an asset class will amply be clear. We have coded that expectation as a 3 year lock-in period for our investors.
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