Thanks punningclan - while it is a bit more work we felt it was something that added value to our offering versus similar bonds.
You're welcome. Thank you for making a great security! 
Topic: YABMC Coupon Frequency - Now 2x per week (Read 2429 times)
Thanks punningclan - while it is a bit more work we felt it was something that added value to our offering versus similar bonds.
More frequent dividends means quicker turn around and compounded reinvestment. I'm liking the idea of sub week payments like Puremining. 
Usagi - thanks for the comments!
YABMC is a team now - kudos goes to PatrickHarnett and hashking as well!
YABMC is a team now - kudos goes to PatrickHarnett and hashking as well!
All,
I have discussed with Nefario and he will be adding functionality so we can notify all bondholders of the change in coupon payment frequency to 2x per week (Tuesday and Friday) with a time of 1200 UTC and then paying the coupon as soon as possible after (goal within 30 minutes).
I will update the coupon information in the YABMC thread as well.
I hope you all will find this an improvement and again appreciate your support of YABMC!
I have discussed with Nefario and he will be adding functionality so we can notify all bondholders of the change in coupon payment frequency to 2x per week (Tuesday and Friday) with a time of 1200 UTC and then paying the coupon as soon as possible after (goal within 30 minutes).
I will update the coupon information in the YABMC thread as well.
I hope you all will find this an improvement and again appreciate your support of YABMC!
Final bump for comments - should confirm this today.
Sukrim,
It doesn't appear the contract shown on GLBSE can be changed. Still discussing with Nefario...
I am concerned of the misinformation in having a contract (on GLBSE) stating a coupon frequency that is NOT correct.
It doesn't appear the contract shown on GLBSE can be changed. Still discussing with Nefario...
I am concerned of the misinformation in having a contract (on GLBSE) stating a coupon frequency that is NOT correct.
It was the payment part I was referring to - currently it's that piece that is the tie.
I agree, maybe it can be changed to weekly (or more frequently, if convenient) for now and put in the contract that payments occur between every 24 hours as the lower limit and 7 days as the upper limit, so you won't have to change it again if daily payments become feasible. Also you might want to ask the owner of JAH how he does daily payments - manually or maybe he already has an automated solution ready?Additionally it might be useful to already come up with a script or program to do all the calculations and just leave the dividend payment part undefined, so you're ready to go asap.
IKt would be great to have this as Open Source, so others can improve and proifit as well. 
Weekly sounds fine to me.
Support a move to weekly, more frequently would be nice but the increase in admin overhead is a factor.
It was the payment part I was referring to - currently it's that piece that is the tie.
Well, as I said: Everything to determine dividend payouts of mining bonds can be calculated by a program too and is out in the open, there's no human interaction needed at all. even if not all shares are sold all you need to do is to cancel the current sell order, calculate + pay the dividend and issue a new order. Except for the dividend payment part, all of the needed information and interactions are available via API from bitcoind and GLBSE.
Daily does get a bit time consuming, and requires someone to kick it over every day (365), and sometimes that's too difficult to do. Each three days would be about the minimum, and weekly is good. Before joining the YAMBC asset I was keen on the weekly cycle, just because it seems about the right time interval given many of the other weekly activities that are going on.
In any event, even if the words in the contract on GLBSE can not be changed, the owners of the company (and it's bond holders) can agree unilaterally to change it (dividend frequency).
In any event, even if the words in the contract on GLBSE can not be changed, the owners of the company (and it's bond holders) can agree unilaterally to change it (dividend frequency).
Sukrim,
It isn't too time consuming to pay once all shares our sold. We are not there yet...
Appreciate the comments and trying to determine with Nefario how to make a change "officially"
It isn't too time consuming to pay once all shares our sold. We are not there yet...
Appreciate the comments and trying to determine with Nefario how to make a change "officially"
I personally love the daily payments on the JAH bonds... So if it can somehow be automated (to not cause you too much trouble) daily payments would be perfect. You can get the necessary data out of the blockchain (timestamp of last block per difficulty) and I hope that it will be possible in the future to pay dividends via the API too.
Weekly please. Also, the most convenient day for you would be the best choice, since delays seem to cause some distrust. Weekends would be good too I guess.
Thanks all -- expect the answers to be the same from others but will leave this open for comment until coupon time tomorrow (approx 1500 UTC).
Does the day of the week make any difference? Tuesday mornings are ideal for me as I have a shorter commute that day (normally) and could send before heading to the office (between 1100-1300 UTC).
Does the day of the week make any difference? Tuesday mornings are ideal for me as I have a shorter commute that day (normally) and could send before heading to the office (between 1100-1300 UTC).
weekly sounds good
Weekly would be great
Greetz
Greetz
I'm all for weekly or 'more frequent' payment.
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