The contract deosnt mention the interest being insured just the 1btc value of the bond. I dont see why Goat would have to pay interest if pirate hasnt paid him, and the only reason he would pay is goodwill which at this point would probably help with the pitchfork mob thats coming
I tried to be clear that I only believe Goat is on the hook for the 0.055 ~if~ pirate pays out. At that point he's up ~0.5 BTC/bond anyway, so I don't think he minds paying out the 0.055.
On the other hand, if pirate does not pay out, life sucks for Goat as much as it does for the rest of us and I certainly would not expect interest on money that has gone *poof*.
No, his life is 33% better than yours either way.
He buys the bonds back for 1.0 BTC if pirate defaults or if pirate pays. Either way, he's up 0.445 BTC per bond sold (because none of the 1.5 BTC you paid was ever sent to pirate). You automatically gave him 33% of your principal.
gee thanks for the great terms and taking that risk for me
lol, the risk he takes is that pirate pays interest for 6 more weeks (33% / 5.5%). Oh wait, no risk for him there since his funds with pirate already covers that. So he's up 33% risk-free and you're out. WOW LET ME GET SUM OF THAT
