Topic: P - page 22. (Read 78397 times)

I think it's actually good, that he acts as a "market maker" and holds the investment liquid.
In real world it is completely normal to have a market maker. Yes, there is a difference -  usually you do not act as market maker for your own security
If security issuers bid/ask are identified on the order book, we have almost eliminated the chance for hidden manipulation.
It's up to every trader,  how they react to buy or sell orders from issuer.
I think it adds more transparency.


   

I think if you would do sth. else it would be stupid or make me think that this is something hidden, and dishonest.

+1

From this I read that you don't view your lenders/investors (bond holders) as "customers" for whom you're trying to provide the best possible service. Instead, you view them as competitors in a free market, competitors you try to beat, for instance by buying back bonds cheaply after having received repayment from Pirate.
I think this is interesting information for anyone holding any of your bonds.

For the period from you've received repayment from Pirate, until this is made known to your bond holders, I'd say that you do have inside information. Of course, if as I suggest you view your bond holders as competitors, it is in your interest to take advantage of this information by buying bonds before making this information public, as you have stated that you would do.

check up your BS&T account - the second week has passed and the interests have compounded at your account.
so, if he does pay out, the bonds are already worth 1.068^2 = 1.140624 BTC
one week from now, they will be worth 1.068^3 = 1.218186432 BTC
keep selling them at the current price - dump all the 40000 onto the market ASAP, to provide the so much needed liquidity - I'm begging you!

Here is a feature request I made to GLBSE to keep both parts of the trades happy and informed:

https://bitcointalksearch.org/topic/m.1033952


If you like the idea, go and "vote" for it in GLBSE thread by quoting it.

thankfully free market works both ways

Trading when you have no advantage is just trading, even though insider trading is usually frowned upon.

I know GLBSE is the wild west but...

What's going to happen, Goat, when/if pirate pays you? 

Will you immediately go to GLBSE and buy up all the asks priced below the buyback amount?  Doing that would be quite profitable for you, but fuel some more bad blood around here.

I suggest that instead you have Nef freeze trading as quickly as possible, and follow that with the buyback asap.

-and-
and I currently see 28864 shares trading according to the API

While you're by no means required to operate the accounts separately your comments and previous explanations look shady and mean that each time it goes up you have to explain why it wasn't at it's maximum earlier. Assuming the full 40,000 shares issued on GLBSE are accounted for with deposits with Pirate (No way to verify this information, so I can only take your word at face value) that's the number for piotr_n to watch for an increase.

For what it's worth, the spikes in price do look like someone could be making a killing buying and selling these if they bought and sold at the right times.

For my two cents:
As for Nefario, my experience is that he's always been a great pick to run GLBSE, has always been upfront and honest, and on and on. He attempted to verify Goat's statements (and Goat's previous statements and Nefario's statements corroborate 28245 trading shares without any further explanation). However piotr_n, you've given him nothing but grief for his efforts to quell the shitstorm (For his part, the number increasing again and new explanation don't help Goat's case either).

From what I can see Goat was not transparent and piotr_n has called him on this, Goat doesn't owe anyone transparency and since there's no way to verify his total investment with pirate, any interested parties can either believe him or not. Further, since there's an obvious economic reason (profit!!) to trading shares of pirate's debt, and nothing to prevent him from doing so with the information he's provided, I see no reason Goat can't continue making a profit even if it looks a little funny.

Hopefully my post looks fairly objective, if you disagree, please let me know in a reply and I'll elaborate.

Goat, maybe you should do your personal buying and selling in your personal account, not the asset account, do that it doesn't affect the assets trading figure, for what it's worth.

Disclosure: That's how I do it with BIB.PIRATE and FOO.PPPPT, so that my account balance at BS&T will always equal = total issued BIB.PIRATE + total issued FOO.PPPPT + total private deposits. Any trading done on my personal account does not affect this formula (except for issuance and redemption).

what's pirate saying to you Goat about when he is paying your dough, did he give you a date or maybe you should ask for one..

piotr_p

Goat has his own personal funds tied up at BTCST along with bond funds, so he can offer more of these bonds up to limits of his personal funds tied up with pirate. If someone's willing to voluntarily buy this debt in a form of the PPT bonds - what is the problem then?    Goat is minimizing his own exposure. I'm not always found of what Goat does but this is smart move on his part
Additionally anyone is free to buy these bonds if they think they're getting good deal for the debt, including Goat

this liquidity is much better than if the asset was simply frozen and no one could sell/buy it

it would have been very dumb of Goat to release more bonds than his BTCST account could cover in case pirate pays out as in this case he would have to cover face value plus whatever interest out of his own pocket.

I said: Goat has unlimited number of shares and he can sell them any time.
Though, he should be selling them according to the contract.
While in the current circumstances the contract actually forbids him both: buying and selling.
But obviously he's doing both: buying and selling...
And he's telling us that he is doing a good thing - which Nefario confirms!
Fuck yeah

Hmm interesting.  So where are all these extra shares coming from?

So I see that now the number is 28864.
Which means that in the last few hours you sold another 600+ shares.
For which, if pirate does pay out, you will need to pay over 1.1 each - while you are selling them now probably below 0.5.
I don't mind you increasing the number to 50000 or more, but are you sure you have enough money to go on with this bet?

And you people, the TYGRR.BOND-P holders: are you sure that you want to play such a game with this guy?
He's violating the contract, laughing in your face - he says he's doing you a favor. Isn't it insulting? How stupid he thinks you are? I mean, I know some of you are... but only few.

If Pirate would be reading to this thread, then I would kindly ask him to postpone the payments for as long as possible - so Goat, or rather his impertinence, would have sold enough empty "PPT" bonds... and then woke up covered with shit all over (the one that hits the fan)

Sell more man, sell  - sell as many as people can buy! That's exactly what you should be doing.
And Nefario should be keeping saying that you have done nothing wrong! You'd actually be AAA+++ in the rating agency that he's about to start.
Man,  Nefario's rating is all that matters - that's what all the smart people should care about, because he's never been caught lying, by anyone

I believe I'm "Person A" that Goat was talking about in his previous post.  I can vouch for his honesty in the matter.  Oh yeah, hey Goat, what's up with the .9999 bid wall on PI?

THX

Haven't I already mentioned once that I don't give a shit if you believe me or not?

What is my motivation?
My only motivation is to warn people about these two crooks.

All I am giving you is a truth.
Whether you believe it or not - it is your problem, not mine.

LOLZ. Nefario and Goat haven't really gotten along in the past, and now nefario is lying for him? You're truly a fucking idiot.

Goat is clearly trying to make money despite adverse circumstances. He's stated what he's doing in the market. AFAICT, after much scrutiny, Goat is honest. IMO, Goat is making enough money that he has no desire, or need, to be dishonest, or unscrupulous. Goat states, then Goat acts. His actions are clearly visible in the market. He keeps his word, and keeps his investors informed. You clearly have a problem with this level of honesty.

What is your motivation piotr_n? Why are you after Goat (and now Nefario)?

In my experience, the person who shouts loudly about the failings of others is really complaining about the same flaws he sees in himself - So I wonder - How would you have screwed Goat by now? Or are you the lying bitch in your real life?

Either way, I know one thing for sure - Goat is providing additional liquidity on this bond, and I'm sure that bondholders appreciate that.