general

[stochastic]

Should CPA close down operations and buy back shares / make a final dividend payment?
...

So here we are. CPA is stable. We're not in default. We're just floating. Adrift. BMF is okay. NYAN will likely have to be shut down because everything on GLBSE is crashing. But basically I'm at the end of my patience here. So I'm coming to the public for opinions. Do you think an insurance company is needed in Bitcoin-land? We made good money while it lasted but I'm not really willing to keep doing this if no one appreciates what we are doing. Consider this a motion. Each user name which has been registered for at least three months counts as one vote. Thanks and bye.

Yes it should shut down.  I think the only effective insurance system that can exist in bitcoin is with a binary market betting system.

[Bitcoin Oz]

Should CPA close down operations and buy back shares / make a final dividend payment?
...

So here we are. CPA is stable. We're not in default. We're just floating. Adrift. BMF is okay. NYAN will likely have to be shut down because everything on GLBSE is crashing. But basically I'm at the end of my patience here. So I'm coming to the public for opinions. Do you think an insurance company is needed in Bitcoin-land? We made good money while it lasted but I'm not really willing to keep doing this if no one appreciates what we are doing. Consider this a motion. Each user name which has been registered for at least three months counts as one vote. Thanks and bye.

Yes it should shut down.  I think the only effective insurance system that can exist in bitcoin is with a binary market betting system.

Every time an asset gets created on glbse it should create a prediction market on those assets of succeed or fail.

[MPOE-PR]

Hahahaha, this is PRICELESS.

Patrick defaulted but NYAN.A is long and strong.

We saved Mircea's ass. LOL. I cannot believe this.

What exactly are you confused about in that context?

[Deprived]

On the subject of nyan.a, you realise you'd need to close that before you can close CPA?  nyan.a is, after all, guaranteed by CPA - without that guarantee investors may well not wish to remain in it.

Oh - and it's still missing its 0.99 bidwall (as is Yarr with it's 1.0 one for the insurance that should have been paid out a month ago).

[Deprived]

On the subject of nyan.a, you realise you'd need to close that before you can close CPA?  nyan.a is, after all, guaranteed by CPA - without that guarantee investors may well not wish to remain in it.

Oh - and it's still missing its 0.99 bidwall (as is Yarr with it's 1.0 one for the insurance that should have been paid out a month ago).

Read the FAQ. You asked the question and it was answered in the FAQ.

I don't know if you're a troll or just being stupid anymore, but if you ask that again I will repost this thread with you banned. Stop being a troll.

If you feel this is unfair, go read the FAQ. If you really don't see your specific question answered, then post it on the FAQ thread. I'll get around to answering it when I have time.

Which FAQ?  You make a new thread every time you have an idea - so it's kind of hard to keep track of them all.

I think you maybe misread my post anyway - I KNOW someone (not me) asked in a different thread about closing nyan.b without closing nyan.a.  But that is NOT my question here - I was asking about CPA: that IS, after all, what this thread is about.

I just checked your "closing nyan.b" thread and saw no mention of it (not surprising as my question wasn't about nyan.b".   I checked the nyancat FAQ - no mention there.  I checked the CPA FAQ - nothing at all in it.  So where is the FAQ that addresses the issue that CPA guarantees nyan.a's capital so can't really shut down before nyan.a?

I was simply pointing adding to my earlier point (that CPA has to either complete its contracts, negotiate out of the or default on them before shutting down) and giving nyan.a as an example.

[capn noe]

That's a totally reasonable question.

[Puppet]

Its not only Nyan. The same goes for all its other customers too. Thats why I said, you cant just close CPA and transfer its assets to its shareholders without making whole your customers and creditors first, and thats not so easy. CPA's assets are premiums paid by its customers to get an insurance, taking those funds and forgoing the insurance is theft.

[Bitcoin Oz]

Its not only Nyan. The same goes for all its other customers too. Thats why I said, you cant just close CPA and transfer its assets to its shareholders without making whole your customers and creditors first, and thats not so easy. CPA's assets are premiums paid by its customers to get an insurance, taking those funds and forgoing the insurance is theft.

Yes CPA cant just close and renege on all its insurance  contracts.

[capn noe]

Its not only Nyan. The same goes for all its other customers too. Thats why I said, you cant just close CPA and transfer its assets to its shareholders without making whole your customers and creditors first, and thats not so easy. CPA's assets are premiums paid by its customers to get an insurance, taking those funds and forgoing the insurance is theft.

Yes CPA cant just close and renege on all its insurance  contracts.

I guess new SLA's have to be negotiated, unless there is no renegotiation clauses in the existing ones.

It might be prudent to send a notification to your community the need to hire additional insurers in order to ensure none suffer from unannounced service outage.

What say these existing clients? Their thoughts matter more than mine, of course. This thread isn't their notification is it?