Topic: PI (Read 13773 times)
thank you guys for trusting me with an insured bond, sadly i lost my ass on this but oh well:)
peace
peace
Thanks for the offering and holding up your end of the bargain, even though it ended up costing you.
looks like your second week of interest now,
Umm no. Go read the contract. I do not think I'm obligated to pay the first week but I will anyway cuz I said I would. 
looks like your second week of interest now,
be careful - people who remind him of that end up in his ignore list, with the troll label 
Not trying to be an ass here, but I believe Goat is technically violating the contract by buying back bonds at 0.9999999 BTC instead of 1.0 BTC, as he is obligated to do.
Quote from: https://glbse.com/asset/view/TYGRR.BOND-PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
100% of the face value of the bond will be insured.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
100% of the face value of the bond will be insured.
Okay I will take down the wall at .9999999
If you want these bonds bought back at 1 BTC you will need to do the following.
PM me on the forum or e-mail and let me know how many bonds you will be sending and a return BTC address.
Once I okay that send the bonds to my GLBSE account.
Once I have the bonds I will send you the full BTC amount.
Thanks Gladamas for helping me see the errors of my ways, I almost got a scammers tag there!
You can still apply the forced buyback and recall the security (should be without fees AFAIK), but some people may not like it
Not trying to be an ass here, but I believe Goat is technically violating the contract by buying back bonds at 0.9999999 BTC instead of 1.0 BTC, as he is obligated to do.
Quote from: https://glbse.com/asset/view/TYGRR.BOND-PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
100% of the face value of the bond will be insured.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
100% of the face value of the bond will be insured.
Okay I will take down the wall at .9999999
If you want these bonds bought back at 1 BTC you will need to do the following.
PM me on the forum or e-mail and let me know how many bonds you will be sending and a return BTC address.
Once I okay that send the bonds to my GLBSE account.
Once I have the bonds I will send you the full BTC amount.
Thanks Gladamas for helping me see the errors of my ways, I almost got a scammers tag there!
Goat, it's no problem, I just thought it was a funny technicality violation... another possibility is to leave the bidwall there and then honor buybacks as mentioned in your post.
Not trying to be an ass here, but I believe Goat is technically violating the contract by buying back bonds at 0.9999999 BTC instead of 1.0 BTC, as he is obligated to do.
Quote from: https://glbse.com/asset/view/TYGRR.BOND-PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
100% of the face value of the bond will be insured.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
100% of the face value of the bond will be insured.
Yeah, where did the 1.00 bid wall go?
It went to .9999999 cuz people are holding the 1.0 spot hostage. Once they leave I will move it up.
lol
Yeah, where did the 1.00 bid wall go?
It went to .9999999 cuz people are holding the 1.0 spot hostage. Once they leave I will move it up.
Why is this trading below 1BTC? Are investors betting that both pirateat40 & Chaang Noi are going to default?
it is not.. i have a large wall at 1 btc :/
Right now, there is a bidwall at 0.9999999. Can we still sell at 1 btc?
Goat takes in 1.55BTC per bond.
Goat sends 1BTC to Pirate, 0.55BTC is his.
Pirate defaults, sends Goat 0BTC.
Goat pays out 1BTC.
How is Goat making a killing on this bond again?
Like I said, he doesn't send the 1 BTC to pirate. Instead, in the case that pirate doesn't default and continues paying interest, he can pay the interest on your coin with the interest he gets on his own coins. He swapped the risk of a pirate default onto the buyer of these insured bonds, who loses 33% if pirate defaults. He assumed the risk that pirate continues to pay for 6 more weeks. Pirate only paid on 2-3 weeks after the start of the bond, so goat keeps that difference.
So your contention is that Goat is lying about this bond, and he never actually sent the 1BTC to Pirate and still has all the funds in his pocket?
Actually the contract doesn't say 1 BTC is sent to pirate. I guess he does it differently, completely backed by the contract:
Get 1.55 IPO price.
Keep 0.75 for collateral, as promised.
Send 0.85 to pirate.
Pirate pays 0.85*0.07=0.0595 per week,
of which Goat pays 0.055 out as dividends,
and keeps 0.0045 as fee.
This makes Goat a tiny profit per week, gets him 0.55 per share if pirate winds down orderly, but costs him 0.25 per share if pirate defaults. This fits Goats expectation of pirate not defaulting very well. We'll see if it works out, and hear the wailing of totally surprised investors meanwhile.
Some reasonable maths! This is very close to what I did. But yeah I lose if pirate wont pay back. I had no idea he would stop so soon.
Yeah I made a typo ... 0.75 + 0.85 is not 1.55 ...
Goat takes in 1.55BTC per bond.
Goat sends 1BTC to Pirate, 0.55BTC is his.
Pirate defaults, sends Goat 0BTC.
Goat pays out 1BTC.
How is Goat making a killing on this bond again?
Like I said, he doesn't send the 1 BTC to pirate. Instead, in the case that pirate doesn't default and continues paying interest, he can pay the interest on your coin with the interest he gets on his own coins. He swapped the risk of a pirate default onto the buyer of these insured bonds, who loses 33% if pirate defaults. He assumed the risk that pirate continues to pay for 6 more weeks. Pirate only paid on 2-3 weeks after the start of the bond, so goat keeps that difference.
So your contention is that Goat is lying about this bond, and he never actually sent the 1BTC to Pirate and still has all the funds in his pocket?
Actually the contract doesn't say 1 BTC is sent to pirate. I guess he does it differently, completely backed by the contract:
Get 1.55 IPO price.
Keep 0.75 for collateral, as promised.
Send 0.85 to pirate.
Pirate pays 0.85*0.07=0.0595 per week,
of which Goat pays 0.055 out as dividends,
and keeps 0.0045 as fee.
This makes Goat a tiny profit per week, gets him 0.55 per share if pirate winds down orderly, but costs him 0.25 per share if pirate defaults. This fits Goats expectation of pirate not defaulting very well. We'll see if it works out, and hear the wailing of totally surprised investors meanwhile.
Goat takes in 1.55BTC per bond.
Goat sends 1BTC to Pirate, 0.55BTC is his.
Pirate defaults, sends Goat 0BTC.
Goat pays out 1BTC.
How is Goat making a killing on this bond again?
Like I said, he doesn't send the 1 BTC to pirate. Instead, in the case that pirate doesn't default and continues paying interest, he can pay the interest on your coin with the interest he gets on his own coins. He swapped the risk of a pirate default onto the buyer of these insured bonds, who loses 33% if pirate defaults. He assumed the risk that pirate continues to pay for 6 more weeks. Pirate only paid on 2-3 weeks after the start of the bond, so goat keeps that difference.
So your contention is that Goat is lying about this bond, and he never actually sent the 1BTC to Pirate and still has all the funds in his pocket?
You should try working out your maths again...
Its your maths, not mine.
IPO price will be 1.55
Contract
TYGRR-BOND.PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
Contract
TYGRR-BOND.PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
1 insured BTC for 1.55 BTC. what a deal
Goat takes in 1.55BTC per bond.
Goat sends 1BTC to Pirate, 0.55BTC is his.
Pirate defaults, sends Goat 0BTC.
Goat pays out 1BTC.
How is Goat making a killing on this bond again?
Like I said, he doesn't send the 1 BTC to pirate. Instead, in the case that pirate doesn't default and continues paying interest, he can pay the interest on your coin with the interest he gets on his own coins. He swapped the risk of a pirate default onto the buyer of these insured bonds, who loses 33% if pirate defaults. He assumed the risk that pirate continues to pay for 6 more weeks. Pirate only paid on 2-3 weeks after the start of the bond, so goat keeps that difference.
You should try working out your maths again...
Its your maths, not mine.
IPO price will be 1.55
Contract
TYGRR-BOND.PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
Contract
TYGRR-BOND.PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
1 insured BTC for 1.55 BTC. what a deal
Goat takes in 1.55BTC per bond.
Goat sends 1BTC to Pirate, 0.55BTC is his.
Pirate defaults, sends Goat 0BTC.
Goat pays out 1BTC.
How is Goat making a killing on this bond again?
You should try working out your maths again...
Its your maths, not mine.
IPO price will be 1.55
Contract
TYGRR-BOND.PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
Contract
TYGRR-BOND.PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
1 insured BTC for 1.55 BTC. what a deal
This is why GIPPT was a better deal since they cover the whole issue price not just 1btc face value.
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