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I'm currently unable to create the asset at GLBSE, and GLBSE support is working with me on this. As a matter of fact, I'm not even able to log in to GLBSE any more. Pre-IPO sales will have to wait until these issues are resolved. Thank you for your patience.
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Because BIB is interested in buying FOO.PPPPT bonds for 0.95 BTC each. The seems like the logical place to post.
And the offer is welcome here. Additional liquidity never hurt anyone. |
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Are you planning to reserve a certain number of the bonds for actual sale on exchange, or might all the bonds be sold pre-sale?
Good point. I will ensure that at least 500 bonds are available during the IPO. |
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Please don't forget there will be trade fees associated with selling your IPO shares (as you will be a taker). This just caused a lot of confusion with the TYGRR-P IPO.
Thanks, this is already mentioned in the FAQ. I will absorb any trade fees for simplicity, since I can recover this in a week (and another week for the IPO fees). |
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Contract, signed with my -otc gpg key (0xDF0E3996): -----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! -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.11 (GNU/Linux) iQIcBAEBAgAGBQJPvRT4AAoJEHCH6B7fDjmWfvUP/RtjEhAiGvMNUla7NjbbSRxc 56dHjJSSsvVAvC8GdOAMkM3lc2IvB1EOo56eJBrFR11xv1vtkqidiLdHVmPMXnQ/ 8AupFB6THZzVwAFxehSnR7TkgAUEhmCLyAr2xnxqllKeYpouArYogHMkHOpFFrsY 1gTaCVx653M+VeRGGFRwJaMfTxDoCYInCY4oyGSKaF2s6ZoP3XRyyedKHXrMMOQS EpErYn7YEVAdcm7BgI0mm+ZqbJ6F4TlXVBm/w+6I5st1iDKgc7ok7oWOMndd8J3g d5YWBl5q3pL08rgu1yFcjgn41hCv3IIi5ZdiKbBe6HYinVJq8+/k2otAhf1ZwQdQ OnvsAfKSl95wEsocKy13bdvPlyipzKdL2JJEdzor7C2ll99EF1XZgJiy5q1vEt8t Aax62lzH1Hx5qJphjNa4kldA6BbK97GM0af117Mie44x72kSNBoAA0bA14crLqm0 0RDgWHkPx98E6wdLb7g4EDEOtagl0a4n7RfEBV4vyF5fbCQwn235sgvqbzFEJ44g Y5DIbHwmgRi+VdOBW60qWxPZJhPl/1BiG99te6ZE/nVk19vxoNGezw7ofJeyNur+ u4OX+eUrjLP5cwL2t2SCuYKUrKQn9OvDsi4O+kDgMf0QOipoWWCmv6vZ7etREhWa wDTleiS0xjgtr/beesQM =7VSq -----END PGP SIGNATURE----- |
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UPDATE: FOO.PPPPT is now owned and managed by brendio: see this thread for details. Most of the information below is likely to be outdated. Original post:
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.PPPPTEach bond represents 1 BTC invested in Bitcoin Savings & Trust. 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=50822.0https://bitcointalk.org/index.php?topic=82849.0What'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.
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Nice, I know of 2 that are important, and 1 that isn't usually as much of a problem - cheaper electricity, cheaper or better cooling (probably doesn't apply in this case), and cheaper rent. I'm guessing the first.
Or to get additional space for expansion and a subsequent renaming of the company to Teramining! |
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How old is your account with pirate? What is the risk of your coins being kicked out by the PPT.* cartel?
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LOL, never seen that before, it's hilarious! Thanks for the free bump. |
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I'm putting up my trusty old Google Nexus one for sale/auction. It's listed on bitmit.net for a buy-it-now price of 40 BTC, or you can place a lower bid (bidding starts at 1 BTC!). Auction will end on 2012-05-24, 13:24 PDT. 
More photographs...
Here's what's included in the box: - Google Nexus One smartphone (manufactured by HTC)
- 32 GB class 10 MicroSD card
- Car dock
- Car charger
- Desktop dock
- Wall charger
- Stock earbuds (unused)
Please read all the following details before bidding on this phone: - Used for 2+ years.
- Works only on T-mobile 3G bands, will drop down to EDGE if used on AT&T!
- More photographs.
- Fully functional, but power button DOES NOT WORK! The Nexus One power button has been known to fail, but the phone is completely usable without it by using a ROM with trackball-wake (see below). The device can be turned on by the procedure described here.
- There are few scuffs, nicks and scratches. See album for close-up pictures. Chrome ring around camera is slightly bent, but this doesn't affect camera picture quality.
- Specs.
- Comes with a 32 GB Class 10 MicroSD card (fast!), already partitioned for use with S2E, to expand the pitiable on-board app storage space.
- Pre-flashed with the latest CyanogenMod 7.2 RC, Android version 2.3.7. This ROM includes trackball wake by default, which is needed to operate this phone due to power button failure. The phone is unlocked, rooted, yada yada.
Will ship in 1 business day after sale. Priority flat-rate shipping, with delivery confirmation, USA only (Around 2.2 BTC for shipping). I've sold on this forum before, have some OTC ratings, and will do escrow through bitmit.net. |
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What people could do is click notify, and then filter out all the email notifications to /dev/null.
Maybe I misunderstood, I guess "notify" still doesn't get the topic to show up on the watch-list?
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Sorry to quote this from earlier, but I think this pretty much sums it up. The style of writing is the biggest give-away here! It is completely off. Plus the insider-bitcoiner references. I wonder if someone here is pretending to subjectively comment on this when in fact they made it themselves.  Yeah, I think SgtSpike made this all up so that he could earn 10 BTC by "retyping" it.  |
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That doesn't really answer my question, but thanks  California time == PDT, so yes, 7PM California time.  |
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Would it be possible to also offer a different pricing model based on bandwidth used? Something like what bitcointorrentz.com does?
I wasn't planning on doing that, but if the demand was there yes I would include that. Unlike fiat currencies, bitcoin makes it easy to do on-demand micro-payments for instant gratification, rather than monthly subscriptions. I think you should take advantage of this and offer such a service: I'm sure there will be demand if implemented right. |
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Would it be possible to also offer a different pricing model based on bandwidth used? Something like what bitcointorrentz.com does?
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The new look is great, API is appreciated too (haven't looked into it yet, but will do soon). I've almost made a wrong trade twice due to the following mixup:  I see "ASK 0.622" and instinctively go to put my own ASK there, type in the qty and price, and then realize that the button next to it is labeled "BUY", which is not exactly what I wanted to do. Maybe removing the words "ASK" and "BID" or making them much smaller than "BUY" and "SELL" would help? On Bitcoinica, for example, the BUY and SELL buttons are big enough that they draw attention first and there's no confusion. |
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So who's 6a716f16ddef37ca5defc85d2c48219393fefb755f18171159f4a86581f5d0e9 ?
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