Think pirate is a scam?
I am accepting Escrowed bets on Pirate's debt repayment by Sep 10, 2012. Bets will be USD denominated and occur with Gox USD through trustworthy escrow. Given that Pirate debt is trading between 10-20% right now I will accept reasonable odds, in the neighborhood of 1:3.5 (I would wager 100 against your 350). Contact me if you are interested.
A USD denominated bet with such odds is quite an interesting hedge. If Pirate pays, the OP bets that the coins will lose value in USD because people will sell them. If Pirate doesn't pay, the OP thinks that the USD value will go up. Possible scenario: - OP buys 30 coins today for $330 ($11/BTC).
- OP bets $100 against JohnDoe (who bets $350 - 1:3.5 odds)
- If Pirate pays, OP receives $350 from the bet. Profits: $20 + 30 BTC (those BTC may be worth nothing in case of a panic sell move, but can sit in a wallet waiting for the USD/BTC to go up in case it does).
- If Pirate does not pay and BTC goes up to $14.5 (not necessarily immediately), OP loses $100 for the bet and later sells his 30 BTC for $435 or more. Profits: starting at $5.
The only case in this scenario in which OP will not benefit from this bet is if Pirate does not pay and the BTC/USD never goes as high as $14.5. So this is essentially a long position on BTC, hedged against a panic sell in the unlikely event that Pirate pays everyone and USD/BTC does not recover its initial value. One can see it as a $100 insurance against a massive USD/BTC drop. |
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Our NAV is currently ~.974 BTC per share. The fund is currently holds the following percent in each sector:
Mining 79% (2 bonds, 2 Companies)
Bitcoin 12%
ETFs 9%.
We are doing fairly well, I have diversified our holdings more, and am looking for some opportunities on the market to invest 12%. Mostly, I am looking to get more funds out of mining and into businesses. However at this point, the fund seems reflect the post-pirate GBLSE market in that it is dominated by mining backed assets.
Normal dividends should return in a week or two once out NAV reaches 1.0. I will also resume our IPO at that point
Hi. It's been one week since the last update. What are the news? |
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It's all irrelevant if the first party isn't a scammer.
The insurance company has to assess that before accepting to insure an investment. If they miscategorize an investment as honest and accept to insure it, then they have to bear the cost of a scam, and engage legal actions to recover their loss. Of course, a reputable insurance company will ask guarantees and identification from the fund owner. |
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Maybe he just wants to know which of the sub-accounts related to PPT bonds that he is currently buying at low price?
Or after having bought directly or indirectly some subaccounts, he doesn't want to send money to operators and risk getting defrauded by them if they don't themselves pay those subaccounts. |
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This is DeaDTerra asking for a leap of faith, will you jump? As per usual please post your thoughts and questions  Since I invested in GBF, the value of my investment has lost 8.05% not including the current week loss. How much extra loss are we talking about? If there is no reward for long term investors who did not jump off the bandwagon, why would one keep the investment in, take the extra loss you are talking about then take the profits instead of cashing out before you liquidate the remaining bad investments and jumping back in after you have done so? Moreover, why send you extra money now, before the fund takes a new loss, rather than wait a few weeks and invest in a much saner fund? It looks like you are asking your faithful investors to share the loss, and even to increase their portion of the next loss to come, without rewarding them appropriately. |
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Hey guys! I just wanted to say that there was a impostor of me today/yesterday on IRC trying to scam people of their money. He stole my name DeaDterra on IRC and went around trying to sell shares and such. This was not me, I am now registering on a name server but for future reference if I am not authenticated with OTC it's not me. Just wanted to let you guys know  //DeaDTerra Thanks for the warning. Note that you can ask NickServ to prevent anyone from using that nick if (s)he is not authenticated within 30 seconds IIRC. |
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I think someone fucking with my, now my client is fucking up... seems like it doesn't transmit the transaction to the network properly. Oh well I have sent it, hopefully it will hit the network soon //DeaDTerra If you give the TX ID, anyone can follow its journey. |
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Where can I find the breakdown by sector, as described in the contract? How is the fund doing?
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investment funds are sellable, this isn't, there was nothing mentioned on the front page about dodgy withdrawal issues when I opened an account, otherwise I wouldn't have even thought of putting money here, but I'm being patient.
I'm sure that if you manage to sell your GBF investment to a third party, this will not be hard for DeaDTerra to put a new nickname and a new withdrawal address into your account row. |
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Sorry for the late update today folks. My sister got married. We had our insured pirate holdings in YARR, and have lost about 2.5% of portfolio value. In order to counteract this, I have decided to suspend our IPO and our dividends. This way, you will be able to trade your assets freely on the market. It takes no genius to determine that there will be some major shifts in the market in the coming weeks. Interest rates should lower significantly now that both pirate and BDT are on the downswing. The dividend will be reinstated as soon as I can possibly can. Thank you for your patience and understanding.
If you do not reasonably think that you will be able to further go on as planned, and especially that early in the IPO, you should put a buy order at face value and return funds to the investors, and reopen YABIF when the market has settled down. |
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Reception confirmed, thanks Fredyy! |
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First we will answer all possible questions and complete this document as our contract with our investors. After that we will announce the pre-IPO fase and we will register with GLBSE. After that FDBF will be live!
Our pre-IPO fase has been started. All investors who like to pre-order there shares can pm me of PsychoticBoy. The pre-IPO fase will last till the end of next week (25/26 august).
In the meantime we will issue the IPO at GLBSE and we will let the account be verified by nefario before we will start.
Wow, that was fast, 48 hours to answer all possible questions? |
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Any news? Your SEPA transfer should have been cleared by Mt.Gox bank yesterday evening by SEPA rules.
Do I have a new participant in my list? I have no reason to distrust Fredyy so far. He has until tomorrow (approximately 15:00 Germany time) to reimburse 3.2 BTC to the address I gave above. At the moment, everything is fine with me. |
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As discussed in PM, I sent 50 BTC in transaction d327b10a319a3c8c9f203b24308fca7d574892c6fa6a9f4ca0c44a99d15b122d, to be repaid with 8% interest after 30 days to address 1GyKQEpU7e81tk8rBxK15Nq3jchfQkdhwg.
Thanks chungenhung!
Repaid early with 28 days prorated interests, thank you. |
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using bitcoind gettransaction gives me this error:
error: {"code":-5,"message":"Invalid or non-wallet transaction id"}
is there a way to get transaction details even if my wallet is not involved?
Do you need more than what is available on http://blockchain.info/? Look at http://blockchain.info/json_api |
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Any news? Your SEPA transfer should have been cleared by Mt.Gox bank yesterday evening by SEPA rules.
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Loans are not the only things I would be doing with deposited funds.
That doesn't change the equation. If your deposits are 100% insured, then you will never do anything with more than you have in reserve, and will always earn less money and take more risks than if you were using your own funds. |
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You're analogy is completely off from what happened with me an Andy. Try this: I hire a contractor to build a house, I pay them half upfront and they build half of the house. I disappear even though they tried to make contact with me. Should they finish the other half of the house? Should they refund me a year later when I complain why my house wasn't finished?
I think that's the gist of it. If the deal was to build the house for a certain date, the contractor has no right to stop in the middle because he wants to get feedback on the first half, especially if the customer is non-responsive. Would you like it if your house is supposed to be ready for when you get back from vacation, but you find it only half-finished because the contractor was waiting on your feedback after building the first half, even though this was not specified anywhere? |
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if you postulate a need for escrow even in face2face situation, surely you must need escrow when dealing with mail/SEPA type transactions.
Indeed, for most transactions I use bitmarket.eu which has an escrow system for bitcoins. |
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when one meets in person, theres no need for escrow imho.
I don't understand. How do you conclude the transaction? Let's assume you are the seller. The buyer gives you the cash hand to hand, how does he know you sent the bitcoins and didn't double spend them? What do you give him? Do you both wait together until there are, for example, 2 confirmations? That can take a few minutes as well as an hour. Don't forget that most of the time you do not know the sender, and you do not have any reason to take his word for it. |
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