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20.01BTC paid for multiple VPS services, billed quarterly, so BTC6.67/mo will be counted as "Misc" starting next month. Expenses are one-off, so not really an operational expense, but a capital expense. My intent is to call hosting an operational expense, while the 150-200BTC for dev-work will be called a capital expense, amortizing over twelve months.
Thus, BDK-BLoC will effectively cost something like 21.25BTC/month for twelve months, only VPS hosting costs thereafter.
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Dividends ended up below target. To pay dividends for BDK.BND & BDK, I had to sell some YABMC, resulting in realizing the loss of ~9BTC. Bad month as far as profits go. Will be pleased for it to end.
June 25 UPDATE
Dividend/share paid: 0.00023112BTC/share
Total dividend paid: 2.08BTC
Running total dividends paid in June: 15.57BTC
June 2012 Net Income Expectations
Optimistic estimate: 85BTC
Reasonable estimate: 50BTC
Pessimistic estimate: 25BTC
(Guesstimated weekly dividend payouts -- June 4th: 0.0BTC/share Actual: 0.0BTC/share, June 11th - .00063BTC/share Actual: 0.00121358BTC/share, June 18th - .00014BTC/share Actual: 0.000406688BTC/share, June 25th - .00036BTC/shareActual: 0.00023112BTC/share)
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Dividends paid.
Issued: 10773 bonds (1077.3BTC FV)
Interest Payment: (1077.3*.01)=10.773BTC
Next Payment Date: July 2nd
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Successful PLEX transaction. He sent first.
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If someone's acting fraudulently, and they become aware of complaints which may lead to the security being frozen or punitive damages awarded, what incentive does that Issuer have to not take off and give investors absolutely nothing, given that Issuer has no qualms with defrauding investors?
These are the two main issues for disputes: adjudication and enforcement. For adjudication I think judge.me is a great and cheap alternative and there is plenty of evidence for an arbitrator to sift through like the contract terms, forum threads, etc. For enforcement I think the issuer should deposit bitcoins into escrow held by GLBSE. The amount of bitcoins in escrow should always be viewable and part of the ticker page just like the contract terms, etc. Also, the contract page should be 'editable' but all previous versions should always be viewable. Issuers should be able to upload new PDFs that become part of the contract. These PDFs could be monthly or quarterly financial statements, material statements, etc., pretty much like 8K and 10K functionality, and not necessarily changes to the contract. I heard Nef is planning on implementing a nifty feature to handle contract changes where they can be editable, but changes between versions uploaded are highlighted. Being able to attach documents would be great, too. Without turning this into a feature request thread -- it's currently near-impossible to update investors except through the forum, which not everyone checks. Allowing the Issuer to able to email all security-holders would be excellent, partially so they aren't suddenly being hit with big changes to the security if they aren't constantly monitoring the security's thread on the forum, or keeping in contact with the Issuer. |
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this Block Chain is replicated and stored on every user's computer (is that correct??). And when I installed Bitcoin for the first time, it took many hours to download the Block Chain - which seems to corroborate with how I understand it... There are many Bitcoin clients. The "official" Bitcoin client (Bitcoin-qt) is not really official, and there are clients out there which already provide comparable features without requiring you download the blockchain - so no, not everyone needs to download the blockchain to use Bitcoin. It's not necessary to wait hours or days to be able use Bitcoin after installing, and these thin/light clients require only an insignificant amount of computer resources. A fix may be unnecessary (though it would be ideal) while servers can host the blockchain. Aside from e-wallets (blockchain.info is usually fairly highly-regarded), there are clients such as Electrum for your desktop computer, and clients such as BitcoinJ and Bitcoin Spinner for Android. There are more if you look, but these are the services/clients I hear the most about. With the exception of e-wallets (in all cases I'm aware of), all these lite clients do not store your private keys on a central server, so you are at no risk of losing coins if one of these services are hacked. Cheers! |
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Oh man.... If I saw Mary Ruwart buying ice cream with Bitcoins..... wife would've preemptively slapped me. Thanks for sharing!
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Hunting him, then what?
Are you guys going to strike him with your keyboards? Kidnap him? Murder him?
smh
We're going to engage him in face-to-face social interaction!! |
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hmmm
(Pat isn't kidding, btw -- he has extensive experience in the field)
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Who is Atlas? A newbie has to wonder.
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Hmm. Does Mantonis have a known forum handle? Pro-BTC bias aside, his writing style is very engaging.
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Give him another week or two. Jered's working on other projects and probably doesn't spend much time looking through claims emails which were probably almost entirely resolved many months ago. He's not scammy or shady, just busy. Fwiw, I don't believe he checks this forum.
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With all the effort spent into getting a loan like this would it not be more profitable for them just to get real jobs?
Who would not mind a $640 extra ? He had like 30 posts. Unbelievable...  It's the website that made him seem credible enough to me. It was Bitcoin-centric, gave a professionally-animated video business plan utilizing BTC in FI (I believe the intent was to provide cloud computing services accepting BTC for payment), and looked fairly professional. It does seem like a very time-costly (or resource-costly, assuming he didn't do the work himself) way to scam for $500, so I'm not entirely convinced he's a scammer, but definitely a non-communicative scrammer. OTOH, he could still be a queer identity thief. *shrug* |
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Thanks for the big update, Kluge!
Maybe I've been afk too much, but I have a few questions:
1. Are you still planning to move? And find a "regular day job"? If so, will this affect the amount of time spent on BDK (and hence the profitability)?
2. BDK-BLoC is part of BDK, right? (won't be a separate glbse ticker)
3. What happened to IOU?
4. Would you consider publishing a proper Balance Sheet and cash flow statement at least monthly? The spreadsheet is hard to follow for some of us more used to GAAP-style statements.
1. I still plan on moving, hopefully within a month, and it won't be somewhere terribly far away. The moving process should take less time than the Realtor process. I'll probably not take a regular day job - at least not for a year or so. Likely, wherever we move will require a lot of work to bring up to a habitable standard, and I'll probably take a day's break three times a week or so to do that. If I neglect BDK too much where operations are affected and it's noticeable, I'll spend more time on it. 2. BDK-BLoC is a part of BDK. Every loan and CD transaction relating to BDK-BLoC is counted as a part of BDK. What BDK-BLoC allows is the automation of many of my current tasks (among some other stuff), which are definitely "BDK tasks." 3. It's been tabled for the time being. AFAIK, that GLBSE account is still restricted. I'll probably get into doing something with a similar goal to IOU, but alone, and with less ambitious goals. IOUcoin.com may end up being repurposed as the site for BDK-BLoC. Dunno if that's too tacky, though, heh. Eventually, the name "BDK" needs to be scrubbed, and the lending operation renamed, as I originally tied the acronym to "banco," when BDK is not a bank in any manner of speaking. Being in the US, that poor word-choice could result in extreme legal consequences (depending partially on what the gov't determines a "Bitcoin" is) if I don't make absolutely sure nobody associates BDK with "bank." 4. I gave a monthly report for May @ https://bitcointalk.org/index.php?topic=77343.msg933687#msg933687 -- Same will be done for June. If there's anything in particular you want to see, I can include it. I'll look through some examples and try to better-standardize my books. I do need some education on GAAP, so I'll see what I can find. Then, when I completely overhaul my spreadsheets around the end of this week, there'll hopefully be something detailed, easy-to-follow, and perhaps even enjoyable to read (Graffs!). Cheers! ETA: Pleased to announce it's very likely BDK-BLoC will be released open-source. ETA2: I should also note all the important information which gets lost in this forum thread will be posted on the website. Can have it on an old, general-purpose host when I finish with the spreadsheet overhaul. |
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Why call it "utilitarianism vs. rights?"
Maybe I believe the Useful have rights (rather, privileges I respect), the Useful Assholes have superior rights, but the Useless Assholes have no rights. As utilitarian as that may be construed, it doesn't mean I'd be willing to kill a random person for two people I know nothing about. Not all people are of equal utility, and I may very well end up killing a Useful Asshole for two Useless Assholes, which would be a net loss. Considering my generalized views of the population collectively, then, I pick "infinity" as a place-holder for "let the original fellow die - he's probably a Useless Asshole, anyway."
Now, if you were asking me a useful question which requested I disclose the minimum number of randomly-selected Useful Assholes I'd need to save to be willing to kill one Useless Asshole, I could give you a useful answer. "Zero. Har, har, har, guns & nekkid chicks."
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Since he's apparently claiming/operating REBATE, will he also be paying dividends on that bond?
ETA: Oh -- missed OP edit.
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