More things than are dreamed about
Unseen and unexplained
We suspend our disbelief
And we are entertained
I don't buy it. Next. grnbrg.  |
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I'm bored. It's your guys turn....
ENTERTAIN ME!
grnbrg.
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Divs have paid out. Using Math™, I make it 0.000731358BTC per bond.
grnbrg.
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Just got an email from @Lab_Rat -- he's been ill for the last couple of days. Divs will be late today. (But will go out today.)
grnbrg.
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Bond transaction. -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
======
25 bonds to be transferred from 1z57emUCcuXaCoycS3PFRkmc5A25obgfr to 1Jc33VcgMjYyCofe6HcodRpiNhtWxdGHBC in exchange for 1.0625+50% of fee. 1.075 will be escrowed with 1EYVW3ZUu3R8fd3xtWi5jh4ceTXZ7Z1uht. 1.05 will be sent to seller's address 1z57emUCcuXaCoycS3PFRkmc5A25obgfr unless otherwise specified by seller
======
Above message is all one line.
Good signature from seller: IFhectPRUJPTKi5mnkwADnfbf62BRavw+XXvGWvoZ4om0R32QNJkV18EDqMCrH/HJ13zSJQMauwkMNYzU7pVsdw=
Good signature from buyer: ICYP/J7cANyk5n2YKKS6QJJEJGV6u26rs/+/jkKGYhphVM/y/9ty2beMNBf7NYP8vdX1qIcRzishQj6Hcn4JfRw=
Account 1z57emUCcuXaCoycS3PFRkmc5A25obgfr has gone from 40 to 15 bonds.
Account 1Jc33VcgMjYyCofe6HcodRpiNhtWxdGHBC has gone from 626 to 651 bonds.
1.05 BTC paid to 1z57emUCcuXaCoycS3PFRkmc5A25obgfr via transaction
38f3e12c97707d747caf5023e96c59df5e0e58fa83267a7a502fc8a078d0f88a
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.14 (GNU/Linux)
Comment: http://www.grnbrg.org/grnbrg_pubkey.asc
iEYEARECAAYFAlKGaegACgkQQVjU3hFFtmcsRACfV5Xu+mVHXWIQWdVYMGO6veuk
YKQAn1lkCxCJuGOyjiE7eoybWRQl+b2u
=mxOx
-----END PGP SIGNATURE-----
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With the increase in value of Bitcoin, and now having a better idea of the effort that goes into processing transactions, I'm slightly changing the fee for managing a bond sale. Instead of "0.5% or 0.025 BTC, whichever is higher", I'm going to start charging a flat fee of 0.025 BTC, regardless of the transaction price. As Bitcoin continues to increase (or decrease) in price, I'll adjust that fee to float at around $10. ie: If BTC continues to float up, and 24h ranges are reliably above $500, I'll drop the fee to 0.02 BTC. So, here is the transaction checklist, with the new fee. It seems a good time to repost it, anyway. - Seller has a public Bitcoin address <Seller-Address>, Buyer has a public address (which may be new, if the buyer does not currently hold any LRM bonds) <Buyer-Address>.
- Buyer and Seller have agreed on the number of bonds, and a price for the transfer.
- Fee for the transaction is 0.025BTC.
- Both Buyer and Seller need to sign and send the below message to me, via PM, email, IRC, carrier pigeon, or some other method. I don't care how it gets to me, I just need the message.
- The message should be a single line of text. Multiple lines tend to be easier to mess up.
- Message should be:
<Number> bonds to be transferred from <Seller-Address> to <Buyer-Address> in exchange for <Price> BTC. <Price> BTC will be escrowed to 1EYVW3ZUu3R8fd3xtWi5jh4ceTXZ7Z1uht and <Price - 0.025> will be paid to <Sellers-Address>- BTC can be sent to escrow at 1EYVW3ZUu3R8fd3xtWi5jh4ceTXZ7Z1uht (my address) at any time in the process. If the transaction fails, I will return 100%.
- Once I have verified the signatures from both messages and received the payment, I will transfer the payment (less the fee) to the seller.
- Once the seller is paid, I will communicate the trade to Lab_Rat, the buyer and seller, and post it publicly here. This final trade notification will be signed with my GPG key.
Note that the above message is just a suggestion, which assumes payment of the fee by the seller. As long as it is unambiguous, and states the obligations of all involved, it really doesn't matter. There is also no requirement to escrow through me, as long as the payment method is clear in the signed messages. And it's best to not include the userid or contact info of either party in the message. It's not needed, and some people will object to being so identified. grnbrg |
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It prevents people like me who don't have a lot of BTC to increase our share count in LRM, as 0.025 on 1 or 2 shares is a lot, compared to their selling price
While I understand that frustration, that is exactly the intent of the minimum fee. Verifying and registering a trade is currently a manual and fairly labour intensive process, and it's not worth my time to oversee trades for a $0.25 fee. Lab_Rat has indicated he is looking into an automated trading solution of some sort, which will have a much lower fee for small trades. I don't have an ETA. grnbrg. |
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Just to put this in perspective. BTC0.025 = $10 ... That seems a fair deal for the labor to verify a transaction. Why would LR et.al. charge more for larger buy/sell transactions? We should be of one mind on this, and working together more - especially for those that actually funded the company. Isn't that profiteering in the face other's difficulty? With this fee structure, LR et.al. would have no great incentive to find an automated & free solution. I apologize if this sounds trivial, but the principle matters. Plus, I saw some hefty transactions on the asks on there (e.g. 500@0.20). If that got filled, LR or whoever would be paid equivalent of $200 to do for that person no more than was done for another at a cost of $10. Just saying - principle matters. Unless, the escrow person see's it as a risk on his part to handle that amount of bitcoin. Regarding escrow. It might be late in the game to comment on this (not sure if suggestions were taken), but instead of doing escrow, why not just use the blockchain to verify the transaction between the two parties (buyer and seller)? That would cut out a step, and reduce the risk of the escrow handler sending the wrong amount or sending to the wrong address. All liability would rest on the buyer & seller. All you would have to do is verify a message & the blockchain, then update the ledger/list if those pass verification. Good points. It's worth keeping in mind that this was set up in the distant past, when BTC was only worth around $200.... I think I will change the fee, and just do a flat 0.025 BTC transaction. Transactions take more time than I expected, but BTC has also gone up in value. It balances out. For information, most transactions seem to take 6-8 emails, spread out over a day or so... And as far as escrow, it just seems to be the easiest approach for 2 people who don't really know each other. With that said, as long as the two parties can agree on a payment system that can be verified, I don't mind. grnbrg. |
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Bond transaction..... -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
Message from seller:
======
31 bonds to be transferred from 1McktXu1X4NrTSurrZK5oq7frvfqGp8UuR to 1BTmAozyaGh9K8Gvh65upQgxgXjCt5M15K in exchange for 1.5125 BTC. 1.5125 BTC will be escrowed to 1EYVW3ZUu3R8fd3xtWi5jh4ceTXZ7Z1uht and 1.4875 will be paid to 1McktXu1X4NrTSurrZK5oq7frvfqGp8UuR
======
Good signature from seller: HH74yshOTknhyOQ/q5BqVigE5qkNjwD3pyPnu1IZxIMyoeo1QJusrUPA92yACwsF3dzhcLUlQyclnc5Xuh5BWRg=
Message from buyer:
=====
31 bonds to be transferred from 1McktXu1X4NrTSurrZK5oq7frvfqGp8UuR to 1BTmAozyaGh9K8Gvh65upQgxgXjCt5M15K in exchange for 1.5125 BTC (1.5 BTC asking price, plus 50% of the transfer fee of .025 BTC). 1.5125 BTC will be escrowed to 1EYVW3ZUu3R8fd3xtWi5jh4ceTXZ7Z1uht and will be paid to 1McktXu1X4NrTSurrZK5oq7frvfqGp8UuR
=====
Good signature from buyer: G8LybqOoo1+GpM7ipRFT9M29pUGPKM+Yx/yLlTxHWVvPGNa3WuyIoPzzanDjcJRdk2x/MYmj0tGCAqZI+V4V4iY=
Signatures verified at brainwallet.org.
Account 1McktXu1X4NrTSurrZK5oq7frvfqGp8UuR has gone from 31 to 0 bonds.
Account 1BTmAozyaGh9K8Gvh65upQgxgXjCt5M15K has gone from 169 to 200 bonds.
1.4875 BTC paid to 1McktXu1X4NrTSurrZK5oq7frvfqGp8UuR via transaction
b5f25a7f62c129c8d2d3751dd8333ed8c1aa29cd62448d337c94f6fe0a420232
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.14 (GNU/Linux)
Comment: http://www.grnbrg.org/grnbrg_pubkey.asc
iEYEARECAAYFAlKFex0ACgkQQVjU3hFFtmfNAACcCAYJ7TFP/2jz+4a9bqzZX0wL
9ocAoJvrKCNDly8Pb24BHu72m3+PZ8KX
=0get
-----END PGP SIGNATURE-----
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One update, at least... A notice and reminder that anyone who has not yet validated their Bitfunder public address with Lab_Rat has until Saturday morning to do so. As of Saturday, any past unpaid dividends owed to unverified accounts will be paid out to verified addresses. Going forward, dividends will be paid out evenly only to verified addresses. As previously stated, unverified bonds will be claimable for at least the next 6 months, but dividends will not be accrued until claimed. I'm trying to get a statement on the hashrate and hardware deliveries. I'll post it when I get it. grnbrg. |
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Ukyo shows up irregularly in the #bitfunder channel on irc.freenode.net.
<grnbrg> ;;seen Ukyo
<gribble> Ukyo was last seen in #bitfunder 18 hours, 59 minutes, and 26 seconds ago
Withdrawals from WeEx have been having issues. grnbrg. |
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4515 1LaBrATo5XwdJEv5C3NTrsoHB6fvURTpYq Verified 1LaBrATo5XwdJEv5C3NTrsoHB6fvURTpYq is this labrats ? or an imposter Someone who holds a lot of bonds. It's a legit person, and not Lab_Rat. (Or me. I wish it was me...  ) grnbrg. Edit: I processed a bond transaction last week for that address. |
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Ugh. Ok, my bad. grnbrg. |
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Another thing to keep in mind is that the price of Bitcoin has more than tripled since the IPO. That helps, too.
Edit: To rephrase that: At IPO, a bond was worth around $15. Based on the trades over the last couple of days, a bond is worth... around $17.5.
grnbrg.
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"CALCULATE IT BY URSELF". I LOLed.
Me too. But I couldn't change it without breaking the signature. grnbrg. |
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Transaction. -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
Message from seller:
======
107 bonds to be transferred from 1J8sk74votoRpUZ1rhzTJLGqrox4x45KjG to 1BCA6XbCT7mr8xfbyfmMUtGEoR36JDHaW2 in exchange for 5.35 BTC. 5.35 BTC will be escrowed to 1EYVW3ZUu3R8fd3xtWi5jh4ceTXZ7Z1uht and 5.32325 will be paid to 1J8sk74votoRpUZ1rhzTJLGqrox4x45KjG
======
Good signature from seller: G9fyyQN7+XbDhymLdd6coUORprhC637JlHNajC0nRGwO+VcrjjMq/8f/U356TdI9B5ExRLATXFPNPPHUHpMFoto=
Message from buyer:
=====
107 bonds to be transferred from 1J8sk74votoRpUZ1rhzTJLGqrox4x45KjG to 1BCA6XbCT7mr8xfbyfmMUtGEoR36JDHaW2 in exchange for 5.35 BTC. 5.35 BTC will be escrowed to 1EYVW3ZUu3R8fd3xtWi5jh4ceTXZ7Z1uht and CALCULATE IT BY URSELF will be paid to 1J8sk74votoRpUZ1rhzTJLGqrox4x45KjG
GRNBRG, please, transfer from this buy 87 bonds to 1BCA6XbCT7mr8xfbyfmMUtGEoR36JDHaW2 and 20 bonds to 1Hoi7U43Ck4buVQgHvH34sjcGSTuVaixzo
=====
Above messages is on two lines, and a single trailing space on the second
line.
Good signature from buyer: HGeRY+2jNkot3BHl1t3wmS30mWZ9IxnQRX/XjZCWTWmVRAz/v2qIq7w9Hp38tRXca7vpPiqtq+nyiC4npHkZupM=
Signatures verified at brainwallet.org.
Account 1J8sk74votoRpUZ1rhzTJLGqrox4x45KjG has gone from 418 to 311 bonds.
Account 1BCA6XbCT7mr8xfbyfmMUtGEoR36JDHaW2 has gone from 248 to 335 bonds.
Account 1Hoi7U43Ck4buVQgHvH34sjcGSTuVaixzo has gone from 0 to 20 bonds.
5.32325 BTC paid to 1J8sk74votoRpUZ1rhzTJLGqrox4x45KjG via transaction
0cbd6901fb4f947c5a19786cc7c2b5bc268602be5fea95e204d2a9da9cb6f333
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.14 (GNU/Linux)
Comment: http://www.grnbrg.org/grnbrg_pubkey.asc
iEYEARECAAYFAlKBK1QACgkQQVjU3hFFtmfm5ACfSh05kVczA6HqQVD/Qn7PB4h/
zswAoKFaLKOGLhg9g3SWFnQ1wjEWt3NR
=WQhK
-----END PGP SIGNATURE-----
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He needs to make a document available with google docs or any other tool that we can check and he can update easily.
Yes, but keeping the authoritative spreadsheet online, in a format designed for shared editing is possibly more risk than he is wanting to entertain.... grnbrg. |
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