Don't reserve bitcoins. As stated hereHave a check that makes sure the buyer has enough bitcoins but allow them to make multiple orders. So if they have 100 bitcoins allow the buyer to make unlimited bids up to 100 bitcoins. If an order is filled that lowers the amount of bitcoins in their account then cancel any other outstanding orders that go above that amount. The order book seems to be really light on bids. This is because once someone has some shares of an equity the only thing they can do with them exchange them for bitcoin, but with their bitcoin they can exchange them for any equity. Since GLBSE has low volume there may be a long wait until a bid order is executed and until that order is executed the bitcoins on reserve are locked up and not working. |
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what's your broker's approach here?
remind you that glbse is not offering lines of credit nor margins and no leverage as bitcoinica is doing.
please educate me and refine your wish to behavior of buy orders in case they would start executing.
we're messing here with market depth and rules should be well described, understood and implemented.
forgot to reply to this, noticed you mention something in another thread about it. I think the way my current broker handles it is real simple though I am not sure exactly how they handle it as I haven't actually looked at the actual rules. This is how it acts however: Your order is checked at order time to make sure you have the balance / margin / credit available. If this first check passes, the order is posted. Kind of like a "soft" check / pre-approval. At execution time, the order is checked for margin again and then executed. The "hard" check. Now the way my broker works, is they give you a certain # called "buying power" which takes into account other holdings and things too. I think for GLBSE purposes, this could just be based on cash on hand. IE: if I have 100 BTC on hand, I should be able to place 100BTC orders, as many as I want, whatever price I want, and these should all pass the soft check. At execution time, if the order fails a hard check, it is removed from the order book / cancelled. Something like that anyway. I agree this would be more desirable than 2.0's current BTC reserved rules, especially since the volume of GLBSE is so low. We have no idea when my orders are going to be placed, so now I have place orders of those I think has a higher chance of being processed and not place orders that would take longer to execute. As can be seen on GLBSE 2.0 now, there are many more sell orders than buy orders which is a direct result of these new rules. |
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and will be bought back at any time at .1 BTC. Where did all the buy orders go!? buy orders have to be funded now (visible in portfolio / btc account as bitcoins blocked). buy/sell orders did not migrate from 1.0 to new version, please create them from scratch I think vuce is asking where is Goat's 0.100 orders like he would buy them back in the OP. With the migration to 2.0, whenever someone tries to make a buy order part of their BTC funds will be reserved. So if Goat allows someone to purchase back shares at 0.100 all the time, he has to keep that amount of BTC in reserve. Thus, the BTC he is borrowing would not be able to be used from. I had a few hundred orders for 0.1 but canceled the order as I wanted to use the funds for something else. I wish there was a way to put in multiple orders and then GLBSE would cancel them when the funds available fell below a certain amount. The volume on GLBSE 2.0 is lower than 1.0 because of this. There were a lot of phantom orders but I think the measures now are too drastic. |
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I agree with 2 weeks notice being reasonable. I also find it preferrable. If someone buys at .103 after that 2nd weekly dividend, they clearly weren't doing their research (even the thread title already indicates the change).
Assuming no one buys by then I will lower it to .1025 However only 853 are left. It seems I should lower rates again:( (or sell more bonds) Just a fair warning April 10th odds are will have a lower rate than 2.5% Hi Goat, please don't get me wrong here. I feel that you acted always fair to your shareholders, adjusting the dividend rate is perfectly fine! Please forget my proposal, i really think we are fine here. Sidenote: Just bought another 1.2k shares because i really like you  But if buying more shares of TyGrr-Bank means lower rates again, it seems kind of paradox for me ^^ Cheers! True, I need to take this into account as I know you hold a lot. How much do you currently hold? Thanks. About 7k shares I can contact you via irc before my next investment if that helps  I hope that does not lead to asymmetrical information. |
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Thanks! I'm probably going to house them on top of my server box, which is currently in my room getting Ubuntu installed. I plan to post tons of pictures, and a live video feed of the unboxing and setup. Edit: I just updated the on site inventory. It has been recommended by fizzisist that we purchase two of these: http://www.newegg.com/Product/Product.aspx?Item=N82E16817371033Yes, electricity backup is a high priority as much as secure storage of any current bitcoin assets the company holds. |
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Is there any update when the history from 1.0 will be moved over to 2.0? I seemed to have sold some shares right before the migration and don't have any recollection of what they sold for. If they sold for what I had listed my BTC amount doesn't seem to match. This is most likely an error in my bookkeeping but I want to make sure.
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With GLBSE 2.0 finally out the door I want to start planning for the next phase, improvement. I am limited in time so I would like to know what do you think are the most important features to add onto GLBSE?
Account to account transfers?
Single bitcoin address for deposits (as opposed to the one address per transaction)
Require email approval before address change
Chart organisation
Ability to edit a contract and share page
If you can think of them, add it to the list below. I'm going to be traveling until Thursday so won't be able to begin implementation of features until then, in the mean time argue them out here.
Nefario.
To be able to see my total BTC balance on every page. |
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I just wanted to report something that happened in the last 24 hours on my account. I had multiple sell and buy orders, but when I came back the sell and buy orders seemed to be canceled. They were not there anymore and I did not cancel them and had the proper amount of funds and assets available to be on reserve.
are you using the python client or web client? if web, which version? when web client 2.0 went live, user orders were not migrated into the claimed 2.0 accounts. also the database can only support one type of clients at one time. so the 1.0 web application is now only good for getting the claim code. my buy/sell orders did not change since this morning. I have however created them in 2.0 after I migrated my old account there. afaik only orders in the old version of GLBSE (the blue/black web client 1.0) are gone. they were all canceled. @Nefario what do you think about: https://sourceforge.net/p/glbseguide/wiki/bip1/ ?  p.s. I can has https://glbse.com/assets/ ? for 'new visitors' it was the index page of all asset contracts. Using web on 2.0. I migrated from 1.0 to 2.0 and then made some buy and sell orders. I had to go somewhere today but when I got back all the buy and sell orders were gone. I did create the buy and sell orders not long after 2.0 went live.
Yeah we closed all orders a while after opening. Order processing at the time wasn't working.
It's fine now.
Nefario.
OK gotcha. |
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Are you going to honor the 3% dividend for the upcoming dividend on Tuesday?
he wrote elsewhere he'll be giving 1 week notice (in advance) for dividend changes. this week's announced change is 'no change' from previous week ; ) my best guess Oh yes, I forgot about that. |
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Well a warning, don't speculate too much on this. If the price start going way up it will be very clear the market wants me to lower rates. :/
Just sold 100 TyGrr-Bank for 0.11 BTC/share. I think the market wants you to lower interest rates. What's your treshold? Damn, GLBSE screwed up my sell order. I was selling about the same amount for less than you but the order vanished.  Okay, it looks like I will be lowering rates a bit and selling more shares. However my assets and BTC did not move over to GLBSE 2.0 so I'm going to have to wait on that. I will make a post tomorrow. I still need to hear back from a few potential investors. Are you going to honor the 3% dividend for the upcoming dividend on Tuesday? |
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If you want to see the share price go up, don't pay out dividends.
Accumulate capital and the corporate value per share will increase. This could be done as a short term measure (say for a month or two).
I voted yes to cut dividends to 50% and voted no to issue more shares, but someone bought me out and both motions passed. I assumed they wanted to change the vote as I made enough to cover months of dividends. |
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I just wanted to report something that happened in the last 24 hours on my account. I had multiple sell and buy orders, but when I came back the sell and buy orders seemed to be canceled. They were not there anymore and I did not cancel them and had the proper amount of funds and assets available to be on reserve.
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After most users have claimed their account I can start bringing GLBSE1.0 history over. For the time being though everything is a fresh slate.
Will the buy and sell orders from the 1.0 be moved over to 2.0? |
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Are GLBSE 1.0 claims not instant, or am I doing something wrong? I enter the code I was given, and it just goes to the normal account page without any dialogue, but doesn't update the stats.
My seemed to work. Like nefario said previously the history will not be updated yet. But you should see at the very bottom of the page in the Portfolio section something like "GLBSE1MIGRATION". |
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nefario : do you have an eta for when the site works again ?
GLBSE is down at the moment (forums are still up though), so anyone wondering why there's your answer. I expect it to be a few hours overall, I'd like to keep downtime to a min, but at the same time I don't want to rush anything. Mistakes are costly. Nefario. I am very excited about GLBSE 2.0 and the eventual API. Just curious. Are there any plans in the future for features in the portfolio such as is found in Google Finance or Yahoo Finance? It would be a great place for the contract issuers to post up things like earnings reports and would be great for users to be able to track their investments. When the API is put up will it be able return values like the current volume, total shares offerred, ect? |
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I don't see why anyone would buy at over .103 when goat can buy back at any time he wants.
Please clarify. How can he buy back at any time? Make interest rate 0%, place a buy for 10000 shares at .103 and walk away. Clearly you wont have to sell to me but I think most people will. Clearly I cant offer 3% a week forever, this has to end sometime. Very reassuring. As for some people buying above .103, that is just some speculation some people are willing to take. Maybe too risky as you state you won't offer 3% forever, but even making 1% a week is better than most returns for the dividends of mining companies listed. |
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subscribing
Please look at and learn from the LIF disaster. I hope you will do much better.
+1 on this. Especially when there are only about 25 equities to really trade on GLBSE. |
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What is the ETA for the boards?
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Okay it seems that I did not word this correctly and I am off on my numbers. I should have sold at .`1 and bought back at .097.
I can't sell and buy back at the same price because people would only hold the bond for the few seconds that they needed to get dividends.
But yes you do bring up a few points that I do need to correct. Give me some time and I will deal with this.
Thank you for pointing it out.
Selling at 0.100 BTC and buying back at 0.097 BTC is the same thing as selling at 0.103 BTC and buying back at 0.100. The difference is still 0.003 BTC. You could not tell people the time you are going to be releasing the dividend payment, but maybe the best option is to change the OP and state that 3% dividend is possible after 2 weeks of holding the bond. After 2 weeks there really is no issue. |
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