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1  Economy / Securities / [GLBSE] FOO.PPPPT - Perpetual Pure Pirate Pass-Through Bonds - 5% weekly nxt wk on: August 06, 2012, 09:51:37 PM
Now under new management!

The issuer of such assets as BIB.GOAT, BIB.BVPS and BIB.PIRATE is now pleased to take over management of FOO.PPPPT. The original contract will be honoured in full.

If you are new to the forum, please be sure to check out pirateat40's thread.

If you wish to share opinions or doubts about the underlying operation, BS&T, please do so in the threads linked from pirate's OP.

Local thread rule: Only discussion relevant to FOO.PPPPT will be allowed here. There are plenty of other thread for sharing accusations about the underlying business of BS&T and conspiracy theories etc. Investors doing their due diligence are encouraged to check them out before making a decision to invest. Nothing in this thread should be taken as a recommendation to invest. Obtain your own legal or financial advice if necessary.

From the original thread:

Since Pirate Pass-through bonds are the flavor of the month, I'm rolling out my own. Announcing FOO.PPPPT: the "Perpetual Pure Pirate Pass-Through" bond. Here is the asset on GLBSE: https://glbse.com/asset/view/FOO.PPPPT

Each bond represents 1 BTC invested in Bitcoin Savings & Trust.

Current status:

Total bonds issued (at 1 BTC face value): 5832
Expected weekly interest: 0.07 BTC per bond
Interest payment address: 1C9cJqCH2ZzJpqhVr5yr5eR18p1a7uD6RY
New bond sales: Suspended
Buybacks: Suspended

Daily bond issuance:
Up to 100 bonds will be issued per "cycle" at a pre-determined price. These will be in the form of an ask wall on GLBSE. The price starts at 1.05 BTC immediately after dividend payment, and goes up by 0.01 BTC every day according to the following schedule:

Code:
GLBSETime 02:00 AM Tuesday   - 1.06 BTC
GLBSETime 02:00 AM Wednesday - 1.07 BTC
GLBSETime 02:00 AM Thursday  - 1.08 BTC
GLBSETime 02:00 AM Friday    - 1.09 BTC
GLBSETime 02:00 AM Saturday  - 1.10 BTC
GLBSETime 02:00 AM Sunday    - 1.11 BTC
GLBSETime 02:00 AM Monday    - 1.12 BTC (before dividend payment)
GLBSETime xx:xx    Monday    - 1.05 BTC (after dividend payment)

GLBSETime = EDT (GMT - 04:00). A "cycle" involves the sale of some bonds, deposit with pirate, and confirmation that he has accepted the coins. There may be any number of cycles per day.

Weekly bond buyback procedure:

Transfer your bonds at any time to the asset account on GLBSE (account name = bitfoo:FOO.PPPPT). You do not need to notify me when transferring them. The cutoff time for this is Monday 02:00 AM GLBSETime (EDT). After the Monday dividend payment, I will e-mail pirate for a withdrawal of all accumulated buyback requests. Once the funds are returned from BS&T, each bond will be paid the face value of 1 BTC + 1 week's interest. A fixed fee of 1 BTC will be deducted per buy-back transaction. If you send me bonds more than once in the same week, it still counts as just one transaction. I cannot let the account balance fall too low, so I reserve the right to suspend the buy-back option at any time. If more buy-backs are requested in a particular week than I can honor, requests will be processed on a first-come, first-served basis, and the remaining bonds will be returned.



Original post:

tl;dr: Pirate bonds, weekly 7% coupon payments. No fees, no commissions, no frantic bidding every week, no insurance, just pure Pirate! This is as close as it gets to the real deal (maybe even better).

The story is simple: I currently have 500 BTC with Pirate/BTCST, earning 5.6% a week. I want to bump up my interest rate. Hence I am auctioning off the remaining space in my account through GLBSE. I will sell 1500 bonds at 1 BTC each on the 28th of May, 2012 at 11:00 EDT (GLBSE time).

A total of 2000 bonds will be issued, and I will keep 500 myself, to represent my portion of the investment. Our interest rate will always be the interest that would be received at BTCST by the total value of bonds issued. Currently this means that I will pay out 7% a week, even if all bonds do not sell during IPO. I will always publicly disclose the total number of issued bonds. The address at which BTCST pays our interest will also be disclosed. I reserve the right to sell the bonds I hold at any time, buy more bonds from the open market, or deposit more money with BTCST and issue myself bonds for the same.

I will do pre-IPO sales of minimum 100 bonds at 1 BTC each. At least 750 bonds will be reserved for sale during the IPO itself. All pre-IPO bonds have been reserved.



FAQ:

Pirate? BTCST? WTF are you talking about?

https://bitcointalk.org/index.php?topic=50822.0
https://bitcointalk.org/index.php?topic=82849.0

What's in it for you?

  • Increased interest rate with BTCST.
  • Increased liquidity for my BTCST investment: I (and all of you) can increase or decrease our level of BTCST investment as we wish by trading these bonds on the open market, while still maintaining the highest interest rate possible.

Aren't you losing money by doing this with no commissions?

A little bit. There's the IPO fee of 8 BTC, and the trade fee on 1500 bonds is 7.5 BTC. However, the potentially increased interest rates from BTCST means that I can recover this loss in 2 weeks, and then gain further out. This keeps the interest pass-through simple (and "pure") as opposed to taking a cut off the initial bond sale or interest payments like the other bond issuers. If you're paying any kind of fee to deposit coins with pirate, you should be demanding some insurance as well. Which leads me to...

Do you offer any insurance?

No. If BTCST defaults and runs away with our money, we lose everything. If pirate returns a portion of our coins, I will buy back the bonds for exactly the fraction of principal that is returned.

When do you pay interest / coupons?

Almost always the same day, never more than 24 hours after BTCST pays out. Currently, interest payments from BTCST are due every Monday at 13:00 EDT. Since the IPO is 2 hours before this date, you will lose 2 hours of interest for the first week, this gives me enough time to move the money into BTCST. You have to be holding the bond at the time of coupon payment, i.e. payments are not pro-rated.

How many more bonds will you issue?

I am currently only issuing enough bonds (1500) to get to the next interest rate tier. I do not intend to issue any further bonds, unless I feel there is significant demand, in which case any further bonds issued will be priced slightly higher. This one-time issuance keeps my overhead low, allowing me to pass through all the interest to you. Of course, if BTCST's interest rate tiers change, I will always strive to reach the top interest rate offered by issuing more bonds.

Will you buy back my bonds if I want out?

For the moment, no. Withdrawing money from the account would cause a drop in interest rates. If you PM me, I might be able to do it using my own BTC liquidity. However, this cannot be guaranteed, especially for large amounts. Buy this bond if you want to deposit some BTC and receive steady payments. Of course, the benefit of GLBSE is that you can put your bonds up for sale at any time, I'm sure people will grab them if the price is right.

Who are you, why should I trust you?

Good question. I have been in the Bitcoin community for a year now. Almost 20 of those 365 days have been spent on this forum (*gulp*). I also lurk on a bunch of bitcoin IRC channels. Come Friday, I will be verified with GLBSE. I will gladly disclose (and can prove) my real identity in PM (if you're planning to buy bonds pre-IPO). My real-world job involves doing research with tax-payer money, and publishing papers. In this field, reputation is everything and I wouldn't do anything to tarnish it.

Is pirateat40 ok with having millions of pass-through bond issuers?

I don't know about millions, but I have his personal blessing to issue this bond.

How old is your account with BTCST?

December 15, 2011.



All discussions, comments, and brickbats welcome. I will update the OP to clarify. Contract terms are coming up in the following post.

Original contract signed by bitfoo:

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

FOO.PPPPT Contract / Terms and conditions:

At least 1 BTC per bond sold will be deposited with the issuer's account in Bitcoin Savings and Trust (BTCST) (https://bitcointalk.org/index.php?topic=50822.0). Each bond will be paid out a weekly coupon not later than 24 hours after BTCST pays out interest on the account. The value of the weekly coupon will be exactly x% of 1 BTC, where x is the interest rate that the total value of bonds issued receives from the underlying investment. If interest rates or tiers change in the future, I will make every effort (i.e., issue enough bonds) to attract the highest interest rate possible from BTCST. The current amount invested, and corresponding interest rate will always be published on the bitcointalk.org forum thread for this bond (https://bitcointalk.org/index.php?topic=83013.0). If BTCST defaults on the loan, or otherwise returns the funds for any reason, the bonds will be bought back for exactly the fraction of principal that is returned, if any. No on-demand buyback option will be provided. I reserve the right to call for a buy back of all outstanding bonds at a rate of 1 BTC + one week's worth of interest at any time. I do not assume any liability or provide any insurance for loss of these funds by BTCST. Please do your own due diligence before investing, and never invest more than you can afford to lose!
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Signed contract transferring the asset to me:

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Effective 05:00 UTC, Jul 30th 2012, 'bitfoo' (gpg key id 0x7087E81EDF0E3996) will transfer complete ownership of the FOO.PPPPT asset on the GLBSE (https://glbse.com/asset/view/FOO.PPPPT) to 'brendio' (gpg key id 0xB943789241C3973E). After this date, brendio assumes all liabilities regarding payment of coupons, principal and full adherence to the listed asset contract terms, releasing bitfoo of the same. This transfer of ownership and liability is contingent on the occurrence of each of the following events:

1) pirateat40 (operator of the underlying investment, Bitcoin Savings and Trust / BS&T) transfers all funds held in bitfoo's BS&T account to brendio's account.
2) Nefario or another admin of GLBSE transfers control of the FOO.PPPPT asset to brendio.
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2  Economy / Long-term offers / BIB Guaranteed Term Deposits (CDs) 4-7% per 32 days [Availability: 0 BTC] on: July 04, 2012, 01:08:47 PM
I am now offering, on a limited availability basis, term deposits (known elsewhere in the world as certificates of deposit, or CDs). My rates are as follows:

Term: 32 days

Minimum Deposit
  Rate to maturity
(per 32 days)
20 BTC
3 %
100 BTC
3.75 %
500 BTC
4 %
1000 BTC
6 %

Interest payable at maturity.
Availability: 0 BTC

3  Bitcoin / Project Development / [RESOLVED] GLBSE balance bug on: June 14, 2012, 04:57:02 PM
A bug in GLBSE has 27 12 0 [Fixed now!] BTC of mine locked up!

Available balance + BTC reserved for buy orders =/= Balance

I'm not the only one in this situation: https://bitcointalk.org/index.php?topic=74049.msg962181#msg962181

I lodged a support request on June 8 and informed Nefario directly on IRC, but the problem remains. While it's against my nature to be doing this, kicking a stink publicly seems to be the only way to get attention in the bitcoin world.

So, Nefario, could you please fix this bug! I thought you had when you took GLBSE down for maintenance the other day, but evidently not.

EDIT: Half fixed. My personal account now reconciles, but my old BIB.GOAT still has over 12 BTC locked up with no bids.

EDIT 2: Resolved. Thank you.
4  Economy / Securities / [GLBSE] BIB.BVPS - Invest in BitVPS through GLBSE - BIB depositary receipts on: June 13, 2012, 04:03:51 PM
tl;dr: The Bitcoin Investment Bank (BIB) BitVPS GLBSE Depositary Receipts allow investors on GLBSE to invest in BitVPS. Each depositary receipt represents one share of the underlying S.BVPS BitVPS shares on MPEx.


Contract

Bitcoin Investment Bank (BIB) BitVPS GLBSE Depositary Receipts

Ticker: BIB.BVPS

1. Holdings: Each (1) depositary receipt (BIB.BVPS) represents an investment in one (1) share of the underlying security BitVPS, trading under the ticker S.BVPS on MPEx.

2. Dividends: The holder of a depositary receipt is entitled to the dividends of the underlying securities.

3. Audited accounts: At all times, holdings in BIB.BVPS shall be backed by holdings of S.BVPS shares by BIB's authorised representative. BIB.BVPS securities may be issued or bought back and cancelled at any time, such that at all times all outstanding BIB.BVPS securities are backed by the underlying S.BVPS security in the ratio stated in clause 1. GPG-signed account statements shall be provided by BIB's authorised representative to a third-party auditor to verify that BIB.BVPS are indeed backed by the underlying securities.

4. Liquidation rights: In the event of liquidation of BitVPS, proceeds of liquidation shall be distributed holders of depositary receipts by either a dividend or a buy-back offer by BIB.

5. Terms of the BVPS shares: Investors should familiarise themselves with the IPO agreement for BitVPS published at http://polimedia.us/bitcoin/mpex.php?mpsic=S.BVPS before making an investment decision. BIB does not guarantee the investment performance or credit worthiness of BitVPS.

6. BIB is in no way associated with BitVPS and no representation is intended or implied. Rapeghost (rg) was contacted prior to issue and has expressed no concerns about this offer.
5  Economy / Securities / [GLBSE] BIB.PIRATE -- Bitcoin Investment Bank Pirate Bonds 4.75 % wkly from 20/8 on: May 25, 2012, 08:45:13 AM
The Offering
 
The Bitcoin Investment Bank is offering GLBSE investors the opportunity to gain ongoing exposure to Bitcoin Savings & Trust (BS&T). Each bond represents an investment of 1 BTC in the BS&T and pays a weekly variable rate of 6.75 % of the Par Value of the bond. The investment is held in trust for the Bondholders. No insurance is offered or implied. The coupon rate will adjust should Pirate adjust his rates and shall be 25 basis points below that of a 2000 BTC investment in the underlying fund with BS&T.

The Bonds are perpetual, but may be recalled by the Issuer at a 50 basis point premium to Par Value plus the value of the next due Coupon.

The Bonds are offered and redeemed on a wholesale basis, letting the market take care of pricing.

Ticker: BIB.PIRATE

The Contract

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Bitcoin Investment Bank Pirate Bonds offer bondholders exposure to an underlying investment in funds held in pirateat40’s Bitcoin Savings & Trust (BS&T)

Par Value: Each bond has an initial Par Value of 1 BTC and is backed by an investment of 1 BTC held in trust by the Issuer with BS&T [https://bitcointalk.org/index.php?topic=50822.0] as the Underlying.
 
Coupons: The Coupon on this bond is paid weekly. The Coupon Rate is equal to the 7-Day Interest Rate on Deposits applicable for a deposit of 2000 BTC in the Underlying, minus a fee to the Issuer of 25 basis points (0.25 %). The Coupon Rate is multiplied by the Par Value of the Bond to determine the Coupon. At the time of issue, the weekly coupon equates to 0.0675 BTC per Bond.
 
No Insurance Offered or Implied: This bond offering shares completely the counterparty risk of the underlying. Should BS&T fail to make interest payments or return capital to investors, the issuer of BPPT bonds will not be liable to reimburse losses and investors have no recourse against the Issuer.
 
Call Back: The Issuer reserves the right at any time to buy back of all outstanding bonds at a price equal to (1.005 times the Par Value) plus the full weekly Coupon.
 
Issuance and Market Making: Bonds will not be offered directly on GLBSE. Bonds are offered on a wholesale basis to Market Makers. A registered Market Maker may obtain Bonds from the Issuer by delivering to the Issuer a sum equal to the Par Value of the Bonds plus the GLBSE Transfer Fee plus the Issuance Fee. The Issuance Fee is set at 2 BTC fixed.
 
By way of example, an order by a Market Maker for 200 Bonds with a Par Value of 1 BTC and at the current GLBSE Transfer Fee rate of 20 basis points would require a sum of 202.4 BTC (200 x 1 BTC + 200 x 0.2 % + 2 BTC).
 
These funds must clear (6 confirmations) with the Issuer by the Cut-Off Time to be issued for that week. The Cut-Off Time is set as Mondays at 12 pm UTC. Bonds will be transferred to the GLBSE account of the Market Maker after the previous week's coupon has been paid (and carry no entitlement to that coupon). The Market Maker is free to sell the bonds on market of hold them in its own account.
 
The Issuer reserves the right to also act as a  Market Maker.
 
Redemption: A Market Maker may redeem bonds at any time by notifying the Issuer and transferring the bonds to be redeemed to the GLBSE account of the Issuer. At some time after the next Cut-Off Time, the Market Maker will receive bitcoins equal to the Par Value of the Bonds plus that week's coupon minus the Redemption Fee. The Redemption Fee is set at 2 BTC fixed.
 
By way of example, a Market Maker redeeming 200 Bonds with a Par Value of 1 BTC and a Coupon of 0.065 BTC would receive a sum of 211.5 BTC (200 x 1 BTC + 200 x 6.75 % - 2 BTC).
 
Forced withdrawal in the Underlying: The situation may arise in which the Issuer's holding in the Underlying is returned by a Forced Withdrawal [see https://bitcointalk.org/index.php?topic=50822.msg605957#msg605957]. Should the forced withdrawal relate solely to funds deposited during a Market Maker Issuance, the forcefully withdrawn funds will be returned to the Market Maker (less the Issuance Fee), and no new bonds will be issued relating to those funds.
 
Should the forced withdrawal relate to previously deposited funds, all bond holders shall immediately receive a Special Dividend payment according to the proportion of the fordec withdrawal to remaining funds and the Par Value of the Bonds will be reduced by the amount if this Special Dividend.
 
Risk: It is the Issuer’s opinion that this Bond Offering carries risk and investors are advised to familiarise themselves with such risks before investing.
 
Definitions and Capitalised Terms:
Issuer: The issuer is "brendio" trading as the "Bitcoin Investment Bank".
Par Value: The value in BTC held in trust by the Issuer in the Underlying.
The Underlying: The underlying investment in which trust funds are invested, namely, pirateat40’s Bitcoin Savings & Trust, as outlined in the bitcointalk.org thread here: https://bitcointalk.org/index.php?topic=50822.
Pirate, pirateat40: The user known on bitcointalk.org and #bitcoin-otc as pirateat40, also referred to as simply “pirate”.
BS&T: BS&T refers to pirateat40’s investment scheme as outlined in the thread https://bitcointalk.org/index.php?topic=50822, currently known as Bitcoin Saving & Trust, and future names under which it may trade.
7-Day Interest Rate on Deposits: The weekly interest rate offered by pirateat40 for a deposit of 2000 BTC, as detailed https://bitcointalk.org/index.php?topic=50822.
Coupon Rate: The 7-Day Interest Rate on Deposits minus the Issuer management fee of 25 basis points.
Coupon: The Coupon is equal to the Par Value of the Bond multiplied by the Coupon Rate.
Market Maker: A wholesale investor in the Bond offering who has registered with the Issuer.
Cut-Off Time: The time by which orders need to be received from Market Makers for the Issuance or Redemption of bonds to be processed that week. The Cut-Off Time is set as Mondays at 12 pm UTC.
Issuance Fee: A fixed fee of 2 BTC payable to the Issuer for the issuance of any number of Bonds in a single transaction.
Redemption Fee: A fixed fee of 2 BTC payable to the Issuer for the redemption of any number of Bonds in a single transaction.
GLBSE Transfer Fee: The fee levied by GLBSE for the off-market transfer of assets between users of GLBSE. At time of issue, this fee is 20 basis points.
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6  Economy / Securities / [REOPENED!] Brendio's Private Pirate Pass Through - 6.75 % weekly on: May 21, 2012, 09:37:28 AM
Open to new depositors!

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Cross-posting from here: https://bitcointalk.org/index.php?topic=82572.msg911809#msg911809

For the first 1700 BTC, you get exactly what you'd get if you deposit with Pirate.

Okay, I'll jump on the bandwagon. Here's my offer:

My account is very old - within a day of the first public BS&T offer. I'm under the limit for the full interest. I'll accept co-deposits for no fee for the first 1700 BTC. You'll get exactly the same rate I get in interest.

So, currently 4.2% until I get 300 BTC, then 5.6 % until I get 1700 BTC and then we all get 7%. All I get out of these deposits in increased interest on my holding. No insurance. If pirate defaults, you lose and I lose.

Minimum term 1 month. Minimum deposit 20 BTC. Interest paid weekly. After I get the first 1700 BTC, I'll pay out 6.75% on further deposits.

EDIT 24/5/12: I now have 2000 BTC in deposits with BS&T so those who have already deposited will receive 7 % per week (less the first week because I didn't have a full week at over 2000 BTC). Further deposits will now receive 6.75 % interest. Also, the minimum deposit is now 50 BTC.
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EDIT 25/5/12: Closed to new depositors. GLBSE listing coming soon for smaller investors.

EDIT 6/7/12: Open again: https://bitcointalk.org/index.php?topic=82772.msg1012247#msg1012247 Minimum deposit: 100 BTC.

Quote
I'm reopening to new depositors. Interest rate shall be 0.25 % below the tier of my account (so currently 6.75 %).

Minimum deposit: 100 BTC
Interest paid: weekly
Insurance: none.
Deadline for deposits: Mondays 12 pm UTC (I'll pay prorata interest, for the number of full 12 h periods, for the next couple of days until the deadline.
Minimum term: no minimum term, but there will be a 1 BTC withdrawal fee if funds are deposited for less than 4 weeks.

PM me for a deposit address and include an address for interest/withdrawals.

Depositors will be eligible for a BS&T Trust Sub-Account when they launch in August.
7  Economy / Securities / Brokerage service for MPEx on: April 20, 2012, 01:11:23 AM
I am offering a brokerage service for those who want to purchase BitVPS shares but for whatever reason do not use MPEx. I will charge 5% commission and have a minimum order volume of 5 BTC.

See otc or list of honest traders for my references.

If there is sufficient demand I will list a depositary receipt on GLBSE for BVPS.

Edit: I can offer this service for any security traded on MPEx, especially, for example, options. Place your order with me in plain English and I'll do the translation into MPEx for you.
8  Economy / Lending / [FILLED][Wanted to Borrow]PureMining shares -- Increase your earnings by 15% on: April 15, 2012, 12:59:32 PM
I would like to borrow 125 GLBSE PureMining shares. I willing pay all the dividends paid during the borrowing period plus an extra 15% of dividends as a borrowing fee. I would like a minimum term of a week, but potentially ongoing with say 7 days notice of termination from either party.

I'm negotiable on exact terms.

My otc rating is under the same nick. I could possibly post collateral with a third party, if required. Could do smaller quantities, but I would want at least 40 in a lot to make it worthwhile.

Surely there are some buy and hold investors out there who would like to increase their income?
9  Economy / Marketplace / Buying and Selling World Bitcoin Exchange (WBX) funds on: March 21, 2012, 12:26:12 AM
WBX funds are still locked up while, according to Andre, their bank has their funds frozen. Andre has said that funds will be returned once the bank releases funds. Those still holding AUD funds in WBX thus have a couple of risks: 1) that their bank doesn't release the funds, or releases an amount that, due to fraudulent transactions that are reversed, is less than what WBX owes to account holders; 2) Andre doesn't honour his word to return funds.

There is also uncertainty about the time frame if funds are eventually returned, and so account holders are faced with an opportunity cost.

For these reasons, a dollar held by WBX is currently worth less than a dollar in the hand. But how much is a WBX dollar worth? The purpose of this thread is to provide a market for buying and selling WBX funds to allow the market to price a WBX dollar.

I will begin with my offers/asks:

1. I am prepared to accept 90 cents in liquid funds for a WBX dollar.
2. I am prepared to offer 25 cents in liquid funds for a WBX dollar.


I will trade for Mt Gox AUD or USD vouchers or bitcoins priced at Mt Gox last. I will also offer PayPal, AUD bank transfer, or EUR to a German account.

Yes, that's a big spread, but it's a start. I am also willing to act as an escrow for others trading, and others are welcome to post bids and asks to this thread.

As a special offer for the first trade, I will offer 40 cents and accept 80 cents for up to $600 worth of WBX AUD funds.

For those who are wondering, I have checked, and the AUD voucher system for WBX is still functional, even with trading halted.

I expect the other party to go first, unless they have significant rating or trust on -otc or here. I have an otc rating and am listed in the honest traders thread.
10  Economy / Currency exchange / [WTB] WBX AUD for MT Gox AUD or USD on: February 27, 2012, 11:08:09 PM
With World Bitcoin Exchange currently down with banking issues, I'm offering to buy you AUD funds stuck in there for 25 cents in the dollar paid with Mt Gox vouchers in either AUD or USD.

I'm listed in the trusted traders thread and have otc rep as well.

PM or email me.
11  Economy / Securities / [GLBSE] BIB.goat redemption - Place asks at 0.1 BTC or wait for GLBSE ver 2.1 on: November 14, 2011, 03:00:02 PM
The Bitcoin Investment Bank (BIB; soon to be listed on GLBSE) offers you the opportunity to invest in a bitcoin bond secured by two GPU cards paying 1 % interest per month. The bond with either be repaid in four months time, or the interest payable will increase to 2 % per month.

For more details, read the asset contract here or see these threads here and here for background information.

There are 3440 bond issued at a par of 0.1 BTC. The listing price will be 0.096 BTC for the remainder of November (giving you an extra couple of weeks interest!). The asking price will increase to 0.097 BTC on December 1 and in regular increments weekly after that.

The first four months interest is factored into the buy price. If the bond steps up, interest will be paid as dividends monthly in arrears.

If you have further questions, fire away here or by PM.

The Bitcoin Investment Bank will soon be listing on GLBSE. It will offer GLBSE brokering services, lending, options, futures, and venture capital. If you are interested in serving on the board or working as a contract officer, please PM me with your background and qualifications and why you would like to work for BIB.
12  Economy / Currency exchange / [WTB] 200 BTC for AUD bank transfer on: October 24, 2011, 11:13:46 AM
Hello,

I am wanting to buy 200 bitcoin for an Australian dollar bank transfer at 2% above the Mt Gox last (offer stands for prices up to $3.50).

Cheers.
13  Economy / Currency exchange / [WTS] $30 and $20 Aussie iTunes cards on: September 05, 2011, 03:08:17 PM
Selling $50 worth of Australian iTunes cards for 5 BTC for $20 card and 7.5 BTC for $30 card.

Alternatively, I will accept Mt. Gox AUD or USD redeemable codes.

I'll email/pm the iTunes code or for an extra 0.15 BTC I'll mail them within Australia.

I'm trying to build up an otc rating, so I'd prefer to sell to someone with a rating there, but I'm open to other offers.
14  Economy / Goods / [WTS] Australian $20 iTunes cards on: September 05, 2011, 03:06:59 PM
Selling $20 Australian iTunes cards for $19 each.

I'll email/pm the iTunes code or for an extra $1 I'll mail them within Australia.

15  Bitcoin / Project Development / Wanted: Application to print your own Bitcoin Money on: June 30, 2011, 09:49:41 AM
I've been thinking about the issue of the current need for portable wallet technology to spend bitcoin at point of sale locations, such as Meze Grill. I present here my idea for critique and possible application from someone with the required knowhow to implement. My idea is a combination of Bitbills, Cassius's paper wallets and the metal engraved cards. My idea focuses not so much on security so much as portability. The idea is an application that would allow one to print their own Bitcoin keypairs (and even better, corresponding QR codes) to make single-use paper Bitcoin currency is various demoniations (e.g. 1, 0.5, 0.1, 0.05 BTC etc.)

What I envisage is a program that can print the key pairs off the grid if required and print either directly to a printer of via a pdf file. Ideally, you would be able to use a template for print the paper money on to standard sized sheets, such as perforated business card printer sheets. You could make it such that you fold the card to hide the private key and seal it with a tamper-evident sticker, but leave the public key and QR code linked to the block explorer address visible, as well as having the denomination value printed on the card. Basically, it is a home made Bitbill, but without the extra security features.

Then, either the program or the user loads the card by sending bitcoins from the user's wallet to the paper money address.

Since I've made and loaded the money myself, I don't need to trust a third party keeping a copy of the private key. I do however, need to keep the paper money physically secure, just like the other money in my wallet.

Now when I go to a restaurant and need to pay my bill, I just hand over the required amounts of paper Bitcoin money to the owner, who then reveals then private key and transfers the balance to his account. I could also keep a card in my physical wallet with an address of my own for receiving change if I don't have the exact change in paper money.

Would anyone be interested in implementing such a solution?

Please understand what this is and isn't supposed to be. This is a means to make Bitcoin as portable as paper money without needing to carry a laptop or smartphone to make a payment (okay, the merchant still need technology, so it is perhaps more akin to a prepaid debit card). This is not meant for storing large amounts of Bitcoin, only for what you would ordinarily carry in your physical wallet. This is not meant for people receiving the Bitcoin paper money to be able to spend again. It is for single use only, as the recipient has no way to know that you have not kept a copy of the private key and can spend it before they redeem it. This is intended to be lower cost than BitBills, and available in any desired value.

Addendum: The major problem with implementing such a system right now is the inability of the standard client to import key pairs. So a useful interim solution would be a website running siba's patch that allows you to input a private pair and make a transaction to another Bitcoin address. This could then be used by the merchant to redeem the paper Bitcoin money.
16  Economy / Trading Discussion / Recreating Mt. Gox password hash from password plus salt on: June 23, 2011, 01:58:28 PM
I changed my Mt. Gox password after hearing about people's accounts being hacked from one I use on other sites to a keepass generated one. I'm starting to educate myself on password security. I'm trying to find out whether the password database hacked from Mt. Gox has my old password or my new one in it. Does anyone know the exact algorithm that was used to apply the salt? I've tried various online MD5 converters but have been unable to recreate the hash listed in the leaked DB.

Obviously, if the hash is listed as $1$saltsalt$hashedhash it's not as simple as doing an md5 conversion on passwordsaltsalt to get the hash.

As I understand, the salt could be apply in various ways, such as saltsaltpassword or some other combination. Does anyone know how Mt. Gox did it?
17  Bitcoin / Project Development / Bitcoin PR: Feedback wanted on an Instructable I wrote on Bitcoin on: June 14, 2011, 04:19:47 PM
Hello forum,

I'm still quite new to Bitcoin, but excited by it's potential. To help get the word out there about Bitcoin, I've written an Instructable explaining a bit about what it is and how to use it.

I'd appreciate it if some of the more experienced Bitcoiners could have a look over it and make sure I have made any glaring errors or inaccuracies. I have drawn fairly heavily on available CC sources.

Cheers,
Brendio.
18  Other / Meta / Email address not hidden on: June 14, 2011, 03:48:02 AM
In my account settings, I have checked the box: "Hide email address from public?"

However, in my post, my email address is showing up as a contact method in the sidebar next to my posts. I would prefer it not to be there to avoid spam. Is this a bug?
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