Want an insured Pirate (BTCST) bond that you know the insurance money is really there and not dependent on bond prices on GLBSE or maybe even loaned to pirate himself? Well now you can!
75% of the insurance money will be stored offline. The address will be made public.
IPO will be this Sundayish however the first payment of 5.5% will not be made until August the 14th
I will only be selling 1337 of these in the first round. I -might- add more bonds later.
IPO price will be 1.55
Contract
TYGRR-BOND.PI
Bond face value is 1 BTC.
If BTCST defaults the bond will be worth 1 BTC.
If BTCST does not default the bond will be worth 1 BTC.
100% of the face value of the bond will be insured.
75% of the bonds value will be stored offline.
75% of the insurance money will not be loaned or invested.
The weekly rate paid out will be X-.015
X is the rate Pirate pays out on face.
Chaang-Noi has the right to buy back the bonds at any time at the weighted weekly price plus 10%.
Payments will be made weekly at around 10 PM Tuesdays Thailand time.
Please see the forum thread or contact Chaang-Noi directly for updated information.
Please give a detailed explination to what you mean when you say
Remember that coin is for if Pirate defaults and so far he has not.
Thanks.
Pirate has announced his closure. The contract you created states my bonds are worth 1 btc each.
The coin was proof of insurance on that contract value.
What happens between you and pirate is your business, I am not involved.
I am however a holder of these "insured" bonds that you are not currently taking back.
I understand wanting to avoid the pain of peeling the hologram, but alas, this is what that is for.
Unless of course you continue to pay interest on the bonds while we wait for your delayed payout in trying to save your coin?
I would accept that, you can continue to tie up the money as long as you continue to pay the interest.
