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rjk has a very good idea, it should be done. We'll sponsor it.
So, make three icons to represent the bitcoin currency (general purpose, sort of how the baht is used now). The icons may not consist of the letter B alone, no matter the stylisation etc.
You get three bitcoin for all three, with a possible bonus of up to another two bitcoin if you hit on one that's outstanding. Obviously all the rights transfer to MPOE.
I'll be watching this thread.
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Brendio,
There's nothing to keep bondholders from retaining any portion of their own earnings for the purpose of insuring their capital. They can do this either individually or even as part of a larger cooperative where they all pool a certain % of earnings and then distribute it to cover losses if and when they occur. There is really very little reason for MPOE to implement this forcibly however.
Bondholders in this context are a lot more like a bank dealing in spreads and default swaps than like a corner shop owner buying a 30 year Tbill. Not that there's anything wrong with either, but they're not the same.
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He makes up for the site's ugliness by hiring really hot PR women, right? Beauty comes from behind. |
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I thought it looked terrible (it did, and still does), I didn't know anything about the founder and just assumed it was a scam. There is significant risk involved in dealing with options even for the seasoned and well experienced trader. MPOE talks to the sophisticated investor with a solid understanding of what options are, how they work and what they are intended and useful for, not to the casual user inclined to "gamble" with complex financial instruments. The web interface reflects (at least in the owner's view) this general principle. That said, it would be trivial for any interested third party to construct a prettier interface on top of the exposed functionality, and even charge users a fee for his services. It is, after all, what brokers do in everyday life. Mr. Popescu is a firm believer in community effort - the ugliness may well be deliberate. As to your last point: there do seem to be a significant number of scammers floating about, so I can easily understand the "assume everyone's a scammer" attitude, I imagine it works well in a majority of cases. However Mircea Popescu is both well known and well respected in the bitcoin community and beyond, so this'd be one case of the minority. The page is not terribly well known, moved a few hundred BTC last month over ~7k contracts total. It is growing steadily however, and from what I understand that was and remains the plan. |
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the emporium can effectively go bankrupt in any given month MPOE can not go bankrupt. Literally. This may sound silly on the first read, but once you take into consideration how the capital requirements are calculated it becomes apparent that in order for 100% capital loss the price of BTC needs to go both to infinity and to zero simultaneously. Otherwise let's see an imaginary example: MPOE has on the book 1000 Calls @5.0, 1000 Puts @5.0. Allowing that the price minimum for the month was 5.0, the capital requirements for this book are then 2000 BTC. If the price moves to 50$/BTC in this month (+1000%, significantly more than what sunk LIB.X, for instance), then the total owed on the book is 45 / 50 * 1000 = 900 BTC, which comes to a 45% loss if these options contracts were given away for free. If the option contracts were sold on average for half a BTC each then MPOE actually turns a 100 BTC profit at the end of this month, of which 40 BTC goes to the bondholders and 60 BTC to the stock holders. The entire system is deliberately designed for stability. Not claimed stability but actual, baked in, universally verifiable, mathematically provable stability. The aim is to provide a pillar on which other BTC financials can rest and be built up, and in fact by trading with MPOE you help stabilize the BTC. |
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Oh, I forgot to say: -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
To whomever it may concern : MPOE-PR is the authorised agent for handling any MPOE communications on bitcointalk.org. Alternatively you can reach me directly on #bitcoin-otc.
May your pools run deep and miners cool,
Mircea Popescu
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Hash: SHA1
To whomever it may concern : MPOE-PR is the authorised agent for handling any MPOE communications on bitcointalk.org. Alternatively you can reach me directly on #bitcoin-assets.
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Bonds are usually above stocks in the capital structure. These
bonds are not. This point seems to be addressed here: http://polimedia.us/trilema/2012/sa-ne-jucam-de-a-investitiile-n-bitcoini/#comment-78897{random_cat} oh… but my issue is that the ’stocks’ seem to be
senior to the ‘bonds’. that is all…. nothing against either particular
gamble.
[...]
{mircea_popescu} no. looky : in december we have net receipts
141.516650950 BTC payments 138.559309400 BTC. that leaves 3 ish btc to be
split. the bondholders get it all. if there was more than what the
bondholders got, it’d have been split up to shareholders, as for instance
in november : receipts 262.208804500 BTC, payments 46.154494050 BTC. this
leaves a 216 btc to be split up. bondholders get (with a 2% rate) 18.5 BTC
over their less than 1k capital. the remainder is split up to
shareholders.
{random_cat} ahh.. ahh… i was misreading the capital expenses
{mircea_popescu} yeh. the bond interest goes in there accting wise, but
otherwise, it’s … you know, bondholder’s payout. so really, to possibly
better translate this in financial english : there’s a preferred class A
which has fixed dividend and a nominal value of 1 BTC and there’s a
preferred class B which gets remainders and has no nominal value. called
bonds and stocks respectively for the hell of it.
[...]
{mircea_popescu} you’d say the fact that bond expenses are put in the
expense acct prominently doesn’t carry this point ? i mean, stocks get the
profit divided. profit is receipts-expenses. bond expenses qualify, ergo,
senior. |
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I like the idea, but sadly I'm all out of aluminum foil atm.
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How much for digital + print + scratch n' sniff?
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bombastic testicle conundrum
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I don't think a book is likely to be qualified to describe me, so I'll take the blog. Hopefully, it'd involve plenty of dragons, unicorns, and graphics cards.
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I know what im doing when it comes to computers, ive had 3 websites , made 2 iphone apps and did other "things" but it took me forever to find out how to become a full member YOU HAVE TO TELL NEW MEMBERS TO POST IN THE NEWB FORUM WHEN THE REGISTER .
Hey, it took me ten minutes. It's the first time I've found something challenging on a forum and maybe those ten minutes could have been spent better. |
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