Something strange seems happening in my GLBSE account. The numbers do not add up:  |
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From the thread title I expected some new software kind of Open Transactions.
lol
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i'm risking 100 BTC of my own coins to make 2% per week on it. <- this is the part that doesn't make sense to do this... when i could just get the full 7% from BST with the same risk level by depositing 100 extra into my account.
Actually you might even sell insurance on Pirate's default without risking a single Bitcent of yours: just selling partial insurance (like the 30% from PPT-x), covered only by the fees you collected up to that moment (and ideally invested in some of the most safe assets on the GLBSE -but not in anything Pirate-related). The advantage for you is that you would take your cut anyway to pay for your work and time, and, if Pirate do not default, all the insurance funds remains yours. For your clients, the peace of mind without the trouble of diversifying their investments themselves might be more than enough. |
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It sounds like you're saying you want more than 6.9% on the uninsured part of your deposit.
No. I want less on all of my deposit, but at least partially insured from Pirate's default. In order to pay you that, payb.tc would have to invest the insured part with pirate as well,
Not with Pirate: it would compound the risk. It would be better investing the insurance fees in a basket of the biggest mining companies. It is what I am privately doing already: 50% of my BTC savings in big mining companies, and the rest in PPT-x and Bitcoinmax. and then may not be able to pay you in the case of a pirate default. Unless he has other funds he's willing to risk.
That is the whole point: would payb.tc risk something betting against a Pirate default? |
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If you withdraw 10% of your balance you will get 10% less interest, and 10% of your balance will be 100% safe. Or 100% of your original balance is 10% safe. You can think of it as insurance if you like.
There's no need for payb.tc to offer insurance when you can do it yourself. If we was to offer more than 10% insurance for 10% of your balance he'd be making a loss, and if he offered less than 10% insurance for 10% of your balance you would be making a loss.
Of course, but I thought that he trusted Pirateat40 more than I now do. If so, he should be willing to risk something selling insurance on Pirate default like others do. If not, I think that I am going to get out of the water. |
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I am starting to feel nervous.
I would gladly renounce some interest (let's say around 10-15%, to get 5-6% weekly) in order to have some serious insurance, at least partial, kind of PPT-X and Yarr.
How about it?
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I don't know why we would try to call it a virtual country instead of a company membership.
Very good point. That is the point of sovereignty. In a libertarian political entity it would consists only in the protection of individuals from threats of force by would-be sovereigns. In the past slaves used to be allowed to buy back their free status. We might be in a similar situation. |
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Do you think is there possibility of building virtual-country?
Where citizenship is voluntary, where you always can quit where are some rights and rules but anyone can force it to you.
That country would be anonymous (form real world) but only if you want, and you would like to keep your identity (represented by some private key) because of reputation which it have, or if it really bad leave it and start from below zero.
...
Lovable idea. But we (BTC community) already are at least a nation in the sense you mention, maybe most of us just are not aware of it and we lack a passport and sovereignty on some land (which would be another lovable idea). I already suggested to buy an old ship as a surrogate in other threads, but my idea did not float  |
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http://www.easzpay.comIt is offering 10 BTC @$45.94 30 Bitcoin=$122.99 50 Bitcoin=$198.88 100 Bitcoin=$355.55 It looks fishy to me. Just a P.O. box for reference.
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It is happening only with Gigamining at the moment:  Uploaded with ImageShack.usedit: sorry, I must be tired. |
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"This assertion is true if Bitcoin Savings and Trust is unwilling or unable to pay out requested deposits on or before December 31st, 2012 according to the opinion of Bitcointalk.org members on the Bitcoin Savings and Trust Forum Thread. "
Which members? Or who counts them and how? And how much one would win betting 1 BTC? Another BTC? |
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How did you lose money with TyGrr-Bond.B (Goat's Bank) It is still being traded on GLBSE and has never missed a dividend payment? Can you please make this clear??
We had an exchange of PMs and on some thread about it months ago. It was when you started to unilaterally reduce the dividends more and more, and I was unable to sell them nowhere near the price that I paid them, since their price was crashing as a result. So in the end I sold all of my 240+ bonds to you at their nominal price. But we are OT. |
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Premised that I am exposed to pirate both by PPT.Xs and bitcoinmax for about 50% of my BTC capital (the other 50 in mining companies -where I already lost nicely with their valuation -and before that I lost with Goat's "bank"), I too can figure that even if is not a ponzi, 3000%+ yoy sounds mathematically not sustainable in the medium to long term. However, this says nothing about what will happen at some point about the return OF the capital of lenders. Pirate might disappear with the loot, or he could return the capital (in full or in part) to his lenders and say game over.
Since I don't know, and I am aware that I might lose my investment, for the moment I keep hoping that the party keeps going playing my BTC (which are play money, nothing that could change my life) with pirate knowing that it must be high risk.
I lost more than I can lose now when I bought BTCs at 20$ each, and then buying radeons not considering well electricity costs and the speed of difficulty increase, so one can screw up investing in anything -even in things sounding much more safe and sound.
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I seem to remember about a CDS or an insurance on pirate's default on the GLBSE, but I can't find it.
If really there is not, it could be a good idea.
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Anyone has any idea why Gigamining and other major mining bonds (Bitbond, Yabmc) just crashed on the GLBSE?
I am now buying, but maybe there is something I do not know?
It's probably because of the announcement from BFL: http://news.yahoo.com/butterfly-labs-announces-next-generation-asic-lineup-054626776.htmlThey said in the press release that they would be selling "3.5 GH/s, priced at under $149" - so nobody cares anymore about the pity 5 MH / $10 or $6 from GIGAMINING. Uhm. I keep buying. Sounds bollocks. BTW: Did anyone notice that FPGAs had zero impact on the network up to now? Total network hashing rate is still way below the top of 2011.  |
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Anyone has any idea why Gigamining and other major mining bonds (Bitbond, Yabmc) just crashed on the GLBSE?
I am now buying, but maybe there is something I do not know?
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Is the site down or is it just me?
I am getting this:
Proxy Error
The proxy server received an invalid response from an upstream server.
The proxy server could not handle the request GET /.
Reason: Error reading from remote server
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we would appreciate some feedback as to volume and price and even timing if we were to issue additional bonds.
I'd appreciate if you try to not reduce the dividend yield whatever you do. |
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