Don't be a 'tard. We're in the process of selling assets and buying back shares. Over 1100 shares were bought back in the last couple of weeks.
How many of those 1100 shares were bought back from the public via GLBSE as opposed to bought back at "FMV" from your own companies via private transfer? Nyan seems to have managed to divest itself of nearly all its assets - the assets that supposedly secure nyan.a and nyan.b "Holders of NYAN.B are guaranteed second claim (after holders of NYAN.A) to any holdings, bitcoins or other assets of NYAN." Shame those assets all vanished back to CPA (by selling off its nyan.a/b/c ahead of other people trying to sell then buying back its own shares from CPA). Oh - and: "The value of NYAN.A shares is guaranteed by CPA and NYAN against capital loss via the reasonably timely maintenance of a bidwall at 0.99 bitcoins per fund unit." bidwall's still missing - has been for days. 145 nyan.a shares on market at .99 or less and only a trading volume of <5 BTC worth of them in last 5 days. Yes - I saw your local rule thing. No need to quote me to point it out. But if YOU won't follow what's in the OP of your threads (e.g. the nyan.a bidwall) then you can hardly expect anyone else to. How is that relevant to this thread? Well CPA are supposed to be guaranteeing nyan.a by maintaining that bid-wall (your words, quoted above, not mine). If they can't do that then their guarantee of value for nyan.a is defunct - and you shouldn't be closing down nyan.b before nyan.a. Normally in a tranched security the senior tranche (nyan.a here) is closed out first. Whilst nyan.a had a credible guarantee it seemed reasonable to not enforce that. But if CPA is now refusing/unable to honour its guarantee (and YES - you knew it wasn't: I pointed it out a few times before) then you really should be closing out the senior tranche first. I am interested how you will answer these questions as well? |
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I have to admit that V.HRL is in a very bad shape and IF no further losses will occur it will need 4 years get back the NAV to 1.0
I was trading on GLBSE for few month when I decided to start on my own. Things was looking all right but right after I spent the money I got from investors everything gone south immediately. Nearly every security collapsed. Bad times.
Why do you say it will take 4 years? Some of the most recent downward movement is from a few people cashing out to get out of GLBSE completely due to the Goat/Nefario kerfufle. Since they are selling off so quick, some of those prices will rebound back up. I would think that as a professional GLBSE stock trader, you should be able to scoop up many of these assets for a large discount and make a decent profit during this downward dip? |
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What ever happened to the argument that BTC was backed by the hashing power of the miners?
It was bunk, so people stopped repeating it. |
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You are taking a page from Obsi's book: posting a daily update of your payment to drive up sales to support your scam?
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its going to upgrade plus its the most professional...
I'll beleive the upgrade when I see it. Being the most professional is like saying it is the best of the losers, it is still a loser. |
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GIGAMINING
The holder of this bond will receive as coupons a number of bitcoins equivalent to 100% PPS output of 5 MH/s, for as long as they hold the bond. Coupon payments are to be made on Monday for the previous 7 days of mining activity. The issuer can buy back the bond at any time at a price equal to 1.05 times the highest price the asset was traded on GLBSE over the prior 360 hours.
You call that a contract? I don't see anything special here. It is just a fixed mining bond. Looks like a loser to me. |
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I make a couple thousand a month trading Bitcoins on Mt. Gox at clear opportunities. I consider that my job.
A couple thousand what? Satoshis? I'm a Chemist. |
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Does anybody have any information about ADMINSORTED? I saw it mentioned in one of Usagi's many threads and tryed ot find some information. To me it looks like a scam. The payouts seem too regular for a company just starting up, and the number of shares has gone up steadily. I checked out the website, to me it seems that somebody offering to set up other companies websites should have a better website themself. Like scrolling marquee text, what are we, 1993? And the link to "buy shares of ADMINSORTED" just goes to glbse, it should go directly to the company asset page. Also, if they are offering to set up businesses for bitcoins, wouldn't this forum be the first place to advertise?
Website is definitely unprofessional. One of the worst I have seen in a long time. It is not made by anyone who understands webdesign. For starters it is one large jpeg picture for crying out loud. Heh, I thought it had loaded slowly. I guess I can add this to the list of "Things Usagi has invested in which I should run away from". |
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Does anybody have any information about ADMINSORTED? I saw it mentioned in one of Usagi's many threads and tryed ot find some information. To me it looks like a scam. The payouts seem too regular for a company just starting up, and the number of shares has gone up steadily. I checked out the website, to me it seems that somebody offering to set up other companies websites should have a better website themself. Like scrolling marquee text, what are we, 1993? And the link to "buy shares of ADMINSORTED" just goes to glbse, it should go directly to the company asset page. Also, if they are offering to set up businesses for bitcoins, wouldn't this forum be the first place to advertise?
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But good investors should be able to see through this. When offered one share with 30% return per month, or another at 10% return per year, the good investor should realize there is a difference in the risk of the two offerings. Not everybody is stupid enough to dump all their money into the highest risk place. Those people who go into the less risky ventures will continue investing, because they have not lost their principal like those who jumped at the shiniest scam.
The problem is all these schemes need to cash out and it depresses the value of all stocks so that 10% per year just turned into a 20% loss because of the rush to the exit. Then people sell down your fund because your NAV dropped when all the ponzis collapsed, so even low risk funds lost money. Its a viscious circle that affects everything. Even the mining stocks have been sold down and they are about as conservative as bitcoin investment gets. I was imagining some asset that was not invested in everything else, like a company which actually does something to generate revenue, call it RGV (revenue generating venture). For RGV, the price of all the other assets does not matter. If a fund manager is liquidating and sells off RGV the price will drop temporarily. If you have done your research, such a time would be a good opportunity to increase your investment in RGV. The price of the RGV will go back up to where it was once the fund finishes liquidating. You only take that loss as the fund sells out if you also sell at the low point. |
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Quick note @ TheBible: I don't consider having my emergency access to non-legal wife's 401(k) revoked part of "the Bitcoiniverse."
Yeah, you're quite the victim here. Man, you wiped out your own wife's retirement account on Internet Funny Munny. You could have at least stopped at losing all your own money, but no, you had to break someone else before burning out. That's cold, man. I think what actually happened was the wife said "There is no way in hell you are taking my retirement to pay for your stupid online play money!" (paraphrased) So he didn't actually wipe out the account, he just removed it from the list of assets available to him. |
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I wish all these ponzi schemes would die in a fire. I hope they all get delisted.
This asset should have not passed the smell test imo.
The sad thing is, real companies shares or bonds can never really materialize on GLBSE or other exchanges until these ponzi scams are removed. When comparing between a return of 10% a year or one that gives 10% in one month, the temptation of greed is too much. Then when the security collapses and the person learned their lesson, they don't have any money to invest in a realistic security. But good investors should be able to see through this. When offered one share with 30% return per month, or another at 10% return per year, the good investor should realize there is a difference in the risk of the two offerings. Not everybody is stupid enough to dump all their money into the highest risk place. Those people who go into the less risky ventures will continue investing, because they have not lost their principal like those who jumped at the shiniest scam. I agree, but it is disheartening. OBSI.HRPT just sucked ~4000 bitcoins out of the investing market. That is 4000 bitcoins that won't flow to legitimate businesses. True. Perhaps the percentage of good investors is very low around here. |
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Wish we could go back and stop them listing in the first place. The amount of bitcoins lost to scummy fucks is staggering.
Agreed. After the past month or so, I don't know how long it will be until we can think about the word "default" with good connotations. When does the word "default" ever have good connotations? |
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I wish all these ponzi schemes would die in a fire. I hope they all get delisted.
This asset should have not passed the smell test imo.
The sad thing is, real companies shares or bonds can never really materialize on GLBSE or other exchanges until these ponzi scams are removed. When comparing between a return of 10% a year or one that gives 10% in one month, the temptation of greed is too much. Then when the security collapses and the person learned their lesson, they don't have any money to invest in a realistic security. But good investors should be able to see through this. When offered one share with 30% return per month, or another at 10% return per year, the good investor should realize there is a difference in the risk of the two offerings. Not everybody is stupid enough to dump all their money into the highest risk place. Those people who go into the less risky ventures will continue investing, because they have not lost their principal like those who jumped at the shiniest scam. |
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I have great faith in the bitcoin economy. I strongly believe we will get there over the course of the coming years. It will take time of course. Hopefully it stabilizes and slowly climbs higher, as we know parabolic rises are only good for those trying to make a quick messy buck.
There was a thread around here somewhere with a graph showing the price over time is following y=x^(1/2), which is a parabola with the open end to the right. I've found something slightly different using non linear estimation of statistica 7 by statsoft: using daily data average y=-5.1033+x^(.31) low confidence limit 95% y=-5.26689+x^(.30358) up.confidence limit 95% y=-4.93971+x^(0.31243) it seems to expand at a slower pace , using the upper confidence limit and 10 years you have 3085$ , using the other formula for low conf limit you have instead 894$ so in 10 years btc should be between 900 and 3000 usd with 95% confidence The general shape of the curve is the same, a larger rise now with a gradually lowering slope, leveling off as you move into the future. Since the USD is continually inflating, the value of a bitcoin may remain constant but still have an increasing price against USD. |
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The price of OBSI.HRPT has dropped immensly. Obsi is buying back shares, seems to be market price. The way the price is dropping, it is just making it easier and easier for Obsi to walk away with everybodies money.
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I have great faith in the bitcoin economy. I strongly believe we will get there over the course of the coming years. It will take time of course. Hopefully it stabilizes and slowly climbs higher, as we know parabolic rises are only good for those trying to make a quick messy buck.
There was a thread around here somewhere with a graph showing the price over time is following y=x^(1/2), which is a parabola with the open end to the right. |
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None, atm in my opinion.
GLBSE makes it way to easy to scam. Just keep the bitcoins right now.
The risk is to high, if it is a scam, you loose everything. If it's not a scam but somehow they lose your money, you loose.
If it's an asset that was based on a scam, you loose.
Until the GLBSE is reinvented in a way that makes it more professional, I'm sitting on my coins!
Would you say the same about the other exchanges, or just GLBSE? |
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Here are two more funds, I am interested to hear what other people think of them:
[glbse] SS - clearly run by somebody who has actually read an accounting textbook, monthly statements are complete and easy to understand
[glbse] KRAKEN - The one man left standing in the bitcion lending world?
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It worries me a lot that someone running the largest Bitcoin stock exchange
GLBSE is not the largest bitcoin stock exchange. It depends on how you measure it. What would you call the biggest stock exchange? I think GLBSE has the largest number of assets listed. |
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