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81
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Economy / Securities / Re: [CPA] [NYAN] [BMF] The Wind Changes Direction -- are you prepared?
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on: September 18, 2012, 08:19:13 PM
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But cashflow will decrease when assets are used to buy back shares. Usagi may have many admirable qualities, but I don't think she can make capital appear out of thin air or generate cashflow from nothing.
You're right, but I will be using revenue to buy back shares while we don't have new contracts to sign (vs. just investing it or holding it). I will be keeping our existing assets on the books to back existing contracts and some room for signing new ones. I see; makes financial sense as long as no more promising investments are available, which doesn't seem to be the case at the current time. Thanks for explaining! |
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82
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Economy / Marketplace / Re: Buying Pirate Debt at 1-2%
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on: September 18, 2012, 07:08:50 PM
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Im not saying you are pirate. You might sell it back to Pirate or his proxy or agreed to settle for something higher than 2% but far below 100%. It all amounts to the same. As you said "I have my reasons", this could be one.
Fair enough. I said "I have my reasons" because I wanted to avoid another repetitive Pirate debate, but I cannot disprove your theory. Admittedly, if any Pirate proxy was settling with people, I think we'd notice it, both on the forums and in the GLBSE PPT bond prices. Many investors would be perfectly willing to settle for less than 100% at this point. I'm not sure I understand how anyone buying up Pirate deposit accounts are supposed to be able to verify that they actually exist.
I would probably request some rudimentary form of proof, e.g. a screenshot. Not hard to forge, but probably not worth the effort. And yes, as Goat said quite kindly, trust. At some point, it all boils down to that. |
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83
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Economy / Securities / Re: [CPA] [NYAN] [BMF] The Wind Changes Direction -- are you prepared?
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on: September 18, 2012, 06:31:24 PM
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NYAN.C is currently trading at about 0.3 BTC - significantly above its NAV. You know much more about finances than I, but it seems to me buying at this price would decrease, not increase, shareholder value.
Example with rough numbers:
NYAN.C starts with 1.25kBTC in assets and 5k shares outstanding, giving a NAV of 0.25 BTC.
You buy back 1000 shares of NYAN.C for 0.3 each, totaling 300 BTC.
NYAN.C now has 0.95kBTC in assets and 4k shares outstanding, giving a NAV of 0.2375 BTC.
I understand dividends come into play, but dividends are generally proportional to NAV. I just fail to see how buying above NAV increases shareholder value or dividends. Perhaps you can enlighten me, usagi.
Usagi's first point was that future projected cashflow (and thus dividends) and not NAV should determine value, and I agree. This is the standard by which other companies are held. Apple doesn't have 655.35B worth of assets. If anyone cares, I can go into a deeper explanation of how future cashflow is the primary determination of company market capitalization. It's a pretty important concept if you hope to invest in securities. But cashflow will decrease when assets are used to buy back shares. Usagi may have many admirable qualities, but I don't think she can make capital appear out of thin air or generate cashflow from nothing. |
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84
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Economy / Securities / Re: [CPA] [NYAN] [BMF] The Wind Changes Direction -- are you prepared?
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on: September 18, 2012, 04:26:59 PM
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Are you doing the buy back with your own funds or with the corporate funds?
Typically when a corporation does a buy back, it undilutes the shares, giving each remaining shareholder a larger dividend. This is the cause of the price rising. Will this be the case in this buy back, or will shareholders just continue to receive a share of the profits as if those shares were still issued?
Yes, it will be to buy back the shares with the company. I.E. NYAN.C will be buying back it's own shares, CPA will buy back it's own shares, and so on. NYAN.C is currently trading at about 0.3 BTC - significantly above its NAV. You know much more about finances than I, but it seems to me buying at this price would decrease, not increase, shareholder value. Example with rough numbers: NYAN.C starts with 1.25kBTC in assets and 5k shares outstanding, giving a NAV of 0.25 BTC. You buy back 1000 shares of NYAN.C for 0.3 each, totaling 300 BTC. NYAN.C now has 0.95kBTC in assets and 4k shares outstanding, giving a NAV of 0.2375 BTC. I understand dividends come into play, but dividends are generally proportional to NAV. I just fail to see how buying above NAV increases shareholder value or dividends. Perhaps you can enlighten me, usagi. |
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85
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Economy / Marketplace / Re: Buying Pirate Debt at 1-2%
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on: September 18, 2012, 04:10:53 PM
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Anyone selling his pirate debt should negotiate a non trivial % of the debt will be returned to him if indeed pirate "pays out".
Im putting that between quotes as I suspect pirate may be purchasing his own debt via proxies for a few % of its original value, so that he would be able to repay himself "in full".
I would be willing to consider this, if you are so worried. Do note that my account was registered a month and a half before Pirate's. Pirate may be intelligent, but somehow I doubt he created proxy accounts before he himself registered and many months before BS&T even started. |
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86
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Economy / Securities / Re: [GLBSE] Gamma Insured Pirate Pass Through
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on: September 18, 2012, 05:50:16 AM
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It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.
By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back.
Says the guy that was offered a buyout and refused it because he'd rather bitch. I also refused it because it would unfair to all of the other unpaid investors who have remained quiet. Additionally, I have offered to buy a chunk of your 10k ASICMINER shares at close to market value to enable you to pay your debts. Interesting. So Imsaguy has the funds he just doesnt want to sacrifice his shares....thats not showing good faith to pay back insurance contracts. 10k ASICMINER shares won't cover the insurance. Imsaguy only owed BTC3750 to ineededausername, the other part of the insurance was covered by deposits with hashking. Imsaguy claimed on irc to have paid back 75% of it, which makes sense because hashking has probably paid back much less of his part if any. If this is true, he only owes BTC937.5, and 10k ASICMINER is worth about BTC1100. Ah, I stand corrected. Note to self: Read the whole thread before posting stupid things. Thanks Dust. |
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87
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Economy / Lending / Re: Looking for a 5BTC loan. (GLBSE listing for a school project)
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on: September 18, 2012, 05:36:21 AM
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-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
This shall serve as public record of a loan from Bitcointalk.org user 'BinaryMage' to Bitcointalk.org user 'PPoweredP' of the amount 6.38 BTC, due at first possible opportunity after sale of shares from launch of user 'PPoweredP's investment fund. Amount due shall be no less and no more than 6.38 BTC.
Loan TXID 7be36d71402d2341e3ca88ba1f4abf38699215485da6b52b87604fd4aa8ec057
Payback Address 1213atp44H3Vrz6EdBvkaqE8NsBGkFoh99
Amount Loaned 6.38 BTC
Amount Due 6.38 BTC
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.19 (GNU/Linux)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=k/sK
-----END PGP SIGNATURE-----
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89
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Economy / Securities / Re: [GLBSE] Gamma Insured Pirate Pass Through
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on: September 18, 2012, 02:29:54 AM
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It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.
By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back.
Says the guy that was offered a buyout and refused it because he'd rather bitch. I also refused it because it would unfair to all of the other unpaid investors who have remained quiet. Additionally, I have offered to buy a chunk of your 10k ASICMINER shares at close to market value to enable you to pay your debts. Interesting. So Imsaguy has the funds he just doesnt want to sacrifice his shares....thats not showing good faith to pay back insurance contracts. 10k ASICMINER shares won't cover the insurance. |
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90
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Bitcoin / Bitcoin Discussion / Re: Is there a larger known networked computing project?
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on: September 18, 2012, 02:18:55 AM
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There is a project out there called Internet that uses a lot of CPU.
I'd bet if you took the combined computing power of the entire internet it still wouldn't be anywhere close.... It doesn't take a lot of computing power to serve or view webpages. It depends if you're talking about the computing power dedicated or the power actively used at any given time. The former is still much higher, but the latter, perhaps not. |
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94
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Economy / Lending / Re: The pirate speaks
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on: September 17, 2012, 06:24:59 PM
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The pastebin link is not working for me... can someone paste it here in the thread?
It expired a few minutes ago. The IRC announcement quoted above is identical. |
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98
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Economy / Marketplace / Re: Buying Pirate Debt at 1-2%
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on: September 17, 2012, 12:08:31 AM
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Why are you buying it at all? Does anyone even think he's paying back anymore?
I have my reasons. Ahhh, but if pirate was to collect all of his own debt, he can declare that he has not defaulted at all!!
Clearly, I must be Pirate. aha! could be a cunning plan to get other people buying pirate debt!
If you discerned it this easily, it wasn't all that cunning, now was it? For anyone not interested in speculating on my motivation, my offer still stands. Otherwise, let the speculation continue — it's quite entertaining. |
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