You don't have a shred of evidence or even an idea of what I do.
Um, I think this is the problem. So stay away, don't trust me. There is nothing else I can tell you. Which is why I am. I was skeptical at first but I'm now without a doubt. |
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You don't have a shred of evidence or even an idea of what I do.
Um, I think this is the problem. |
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The business receiving these investments is in the financial sector and currently expanding. They have demonstrated an excellent return on my personal investments and I thought now would be a good time to offer an alternative to the other high risk pass-through investment opportunities on the market.
I cannot ensure best practices are followed in a business over which I have no control.
Who are "they"? I would need this answered before I invest my coin. Otherwise, whatever. |
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Money laundering? Why do you need to borrow money to do money laundering? The people who want their money laundered will give you their money anyway. And if you try to pinch it, they will shoot you.
Um, you exchange tainted coins for clean ones ... Ah, we have a new concept here—the tainted bitcoin.  Please explain why exactly you think somebody needs to borrow bitcoins to launder money. Who came up with this ridiculous money laundering explanation anyway? You are digressing from this thread to try and take it over with your point while totally missing mine. Blacklist/Ignore here you come. Do you have OCD or something? Seriously. |
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Money laundering? Why do you need to borrow money to do money laundering? The people who want their money laundered will give you their money anyway. And if you try to pinch it, they will shoot you.
Um, you exchange tainted coins for clean ones and you take a large commission. You pay a smaller commission out to your lenders. That's how it works. Is it out of the realm of possibility? Certainly not. Could it also be a giant ponzi? Sure. Thing is, I really don't care how he's doing it as I'm not invested. I've already stated what my concerns are. |
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The problem is not how GLBSE is protected from Pirate, in my view; is how the Bitcoin economy is protected by GLBSE. Not that it is a problem in itself, but if you take down Ponzi pass-thoughs ...and miners soon to follow maybe, if you count ASIC + halving of reward, then there would remain very little. So, is there a "real" Bitcoin economy that will do with or without Pirate's 7% per week? Or are we all (or nearly) here to speculate, and will run to sell everything if financial speculation is no more profitable? Would the price of bitcoin be affected, or stay the same?
There's always something to speculate on dude. I don't think the GLBSE is a bad thing. In fact, I think it's a great thing for Bitcoin. It allows people to invest their bitcoins in anything, which is awesome! People will make money. People will lose money. Just like in any money market. As long as Pirate ≠ Nefario and Nefario isn't leveraged to his eyeballs in Pirate. I'm all good, personally. |
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I think the thread subject is odd.
It's not odd because I'm not calling it a Ponzi. You are. I'm neither defending nor attacking Pirate. I honestly have no idea what the hell he's doing. It could be silk road coin laundering for all I know (in which case I don't want to be involved either). I'm not getting involved because of the mystery and confusion everyone has about who this person is and what this person is doing. All I'm concerned about is whether GLBSE can weather the storm should something happen. looks like we are about to find out. I think so too. |
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Cognitive is raising a motion (which will surely pass) soon to upgrade our seven FPGA Singles. Keep up with the thread and site for the latest info! What about synergy? Synergy is completely Mini-Rig powered, and our underwriter has said that he will be totally willing to upgrade to ASICs when and if BFL turns out a working product. The details of the upgrade plan have not yet been decided because of the unpredictability of BFL's products' actual results, no matter what their estimates claim. I hope this helps, and I apologize for not being in the position to gamble on BFL. -Garrett Thanks for the fast and completely reasonable response. Cheers! |
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Cognitive is raising a motion (which will surely pass) soon to upgrade our seven FPGA Singles. Keep up with the thread and site for the latest info! What about synergy? |
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PureMining will remain 1 MH/s per bond.
Thanks. Dumping the rest of those bonds. |
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The issue I have is that there are other bonds already offering a "free" upgrade. I've already lost almost half of my original investment in Giga and now you want me to pay more? Why should I keep this bond?
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Regarding the effect of a complete default of BS&T, I believe it would have a negative knockon effect on the entire bitcoin economy in the same way the sub-prime mortgages fiasco effected stock markets around the world.
There would be something of a recession on GLBSE, and I think as a result trade volume would probably reduce(which means that GLBSE's revenue would also reduce).
Thanks for your reply. I feel a little better having funds on the GLBSE but that quote is scary. Come on some random dude on the internet! Don't mess this up! |
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Complaining about the "last" price (or assuming it means anything) is stupid in a shallow market, as is often the case on GLBSE. Nobody wants to leave large quantities of bitcoins in GLBSE to keep open bids on there, so there's never any bid depth. It took 24 shares sold to go from 1.34 to 1.01. The degree of panic I see about this just reveals how little people understand about markets around here.
If we want to fix it, we need GLBSE to provide more incentives to people to be market makers, especially on the bid side. Otherwise, why would I keep my bitcoins locked up in GLBSE when I could be making loads elsewhere?
There's no panic from me. I got the one @ 1.01. I think now is the time to buy myself. |
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Hasn't hit 1 BTC yet but we're close. 1.01  |
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I at least hope it wont affect much on the price. Bought in in this bon @ 1.47 so another drop would really hurt my ROI.  What type of financial analysis did you do to determine that 1.47 BTC was a good deal? Well considering the second bonds were sold at 1.50. It sounds like a deal. There are funds being publicly traded on the GLBSE that bought in around that price point. By my numbers I think 1.3 BTC might even be significantly overvalued. Kind of interesting to see how the market works, isn't it?
From 1.5 to 1.3 in less than a month with 40k shares. That's a lot of market value they've lost investors that bought in @1.5 during the second round. Was hoping to see some growth during this expansion not a contraction. |
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Gigamining is moving to 200Gh in bonds.
More to come.....
I'm curious how this works. When you first issued bonds you had an IPO and sold X amount at like 1 BTC per bond, right? How do you go about selling new bonds? Do you simply place a sell order on the open market and get people to buy them? If so, at what price? Or do you have specific individuals that buy them? And if so, at what price? I'm just curious about how things work. I'd like to see this answered. At what price point are you planning on releasing the bonds? The bond price seems to have been hit hard just within the last 24 hours alone. The entire sale was to a couple private investors. Ah I see, thanks! |
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If half the GLBSE bonds crash, GLBSE itself won't be negatively affected, but there will be a lot of people with a lot of worthless things associated with their account because they can't sell them. I appreciate yours and everyone's comments and thoughts. Keep them coming. I do disagree with you on this point though. I think the GLBSE will be negatively affected. The GLBSE economy is still young and fragile. It is currently illiquid. With all that money gone, I think it would affect trading negatively. Is my money safe? What money are you referring to? Stocks, bonds, bitcoins, it's all money to me. Any coins in GLBSE won't shouldn't be affected by a default. Let's hope not, huh! people are aware that it's unsustainable.
I'm not saying that they aren't. Just opening dialogue. Cheers. |
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What happens if pirate defaults and half of the GLBSE becomes worthless? Is my money safe? Are my other stocks/bonds safe?
I've decided to sell my final pirate bonds and be done with it. It's too risky for me. But over half of the glbse is invested. I'm sure mining operators are invested as well. Maybe even Nefario. What would happen should pirate default? Is there a contingency plan if your servers are overloaded or there is a bank run?
It just seems like a lot of money is invested in this Pirate fund. I'd like to know as a non-pirate investor. Is my money safe?
No one else is wondering this?
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Early investors already got quite some dividends already... Yes, but drops like this cancel out what you've made. Or at least but a big dent in it. Anyways, seems like a cheap opportunity to get some well managed hashes from the market atm!
agreed! |
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