Are you planning to / would you consider insuring direct Pirate deposits?
(I'm not interested ATM, but I might be in the future.)
Topic: post - page 7. (Read 13682 times)
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And yes it's a little difficult to understand, so if you have a better way to word this let me know. I'll be thinking of a simpler wording as well.
Those examples made it very clear. This is a reason why I think legal documents should be present similar to how Creative Commons licenses are, with a legal "source code" behind the explanatory layer (that could use examples similar to what you've provided).
See http://creativecommons.org/licenses/by-nc/3.0/ for an example.
This is a great idea, and I wish you the best of luck.
One question.
So assets are not 100% backed, then?
Will you report the % of backing for each exposure unit group?
One question.
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1c. Commitment to 100% backing
All insured securities are 100% backed by segregated asset accounts for their exposure unit group. These segregated accounts will have no other customer claims applied against them. This means we won't leverage our assets to cover two separate types of contracts at once, but we may pool resources to cover similar contracts (see: "1. Large number of similar exposure units" in customer contract preamble).
All insured securities are 100% backed by segregated asset accounts for their exposure unit group. These segregated accounts will have no other customer claims applied against them. This means we won't leverage our assets to cover two separate types of contracts at once, but we may pool resources to cover similar contracts (see: "1. Large number of similar exposure units" in customer contract preamble).
So assets are not 100% backed, then?
Will you report the % of backing for each exposure unit group?
Could you give an example what it would cost me to insure a deposit of 102 BTC (= 100 shares) at TYGRR.BOND-P?
To me this seems like ~2 BTC/week (2 times 1% of asset value, since it pays over 5%), payable in advance. Is this correct?
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2. Insuring pirate pass-through bonds of any kind (and similar finaicial instruments)
This will be done on a customer-by-customer basis as funds allow. The cost for such a contract at 100% backing will be 1% of asset value for each 5% in expected interest rate. Term is generally upon coupon payout (1 week) and must be purchased in advance.
This will be done on a customer-by-customer basis as funds allow. The cost for such a contract at 100% backing will be 1% of asset value for each 5% in expected interest rate. Term is generally upon coupon payout (1 week) and must be purchased in advance.
To me this seems like ~2 BTC/week (2 times 1% of asset value, since it pays over 5%), payable in advance. Is this correct?
Great news, I wish you success in your business.
For those of us who are not previously familiar with you ... can you give a short list of credentials? Other assets of the people involved in the company? Reputable forum members? Real name / Photo ID?
I wish your business succeeds, and hopefully is eventually bought out / partnered with a big company (e.g. Mt. Gox).
For those of us who are not previously familiar with you ... can you give a short list of credentials? Other assets of the people involved in the company? Reputable forum members? Real name / Photo ID?
I wish your business succeeds, and hopefully is eventually bought out / partnered with a big company (e.g. Mt. Gox).
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