|
brendio (OP)
|
 |
November 14, 2011, 03:00:02 PM
Last edit: April 27, 2012, 02:37:50 AM by brendio |
|
The Bitcoin Investment Bank (BIB; soon to be listed on GLBSE) offers you the opportunity to invest in a bitcoin bond secured by two GPU cards paying 1 % interest per month. The bond with either be repaid in four months time, or the interest payable will increase to 2 % per month. For more details, read the asset contract here or see these threads here and here for background information. There are 3440 bond issued at a par of 0.1 BTC. The listing price will be 0.096 BTC for the remainder of November (giving you an extra couple of weeks interest!). The asking price will increase to 0.097 BTC on December 1 and in regular increments weekly after that. The first four months interest is factored into the buy price. If the bond steps up, interest will be paid as dividends monthly in arrears. If you have further questions, fire away here or by PM. The Bitcoin Investment Bank will soon be listing on GLBSE. It will offer GLBSE brokering services, lending, options, futures, and venture capital. If you are interested in serving on the board or working as a contract officer, please PM me with your background and qualifications and why you would like to work for BIB. |
|
|
|
|
brendio (OP)
|
 |
November 16, 2011, 12:23:49 PM |
|
when will you list BIB on glbse ?
When I get around to sorting out the contract and putting together a website. |
|
|
|
|
brendio (OP)
|
|
November 16, 2011, 12:30:29 PM |
|
The bond contract with Goat requires that the hashing output of one of the 6990 cards is directed towards a "security address" as partial repayment of the bond. The output of the other card can go towards the electricity bill. One of the reasons for this proof of security is to show that the card is still in Goat's possession and operating properly. I have made a spreadsheet to check the expected output and compare it with the balance of the security address. https://docs.google.com/spreadsheet/ccc?key=0Amnus1l1SKuwdHZKLWFsdkszdnp2Q2NWZFFJUFpqYkE#gid=0 |
|
|
|
2weiX
Legendary
 Offline
Activity: 2058
Merit: 1005
this space intentionally left blank
|
|
November 16, 2011, 12:38:41 PM |
|
would buy on GLBSE, plz alert when listed
|
|
|
|
|
|
brendio (OP)
|
|
November 16, 2011, 12:44:23 PM |
|
would buy on GLBSE, plz alert when listed
It already is: see OP. The ticker symbol is BIB.goat. The contract reads better if you choose to view source. In Chrome, at least, some of the formatting is lost in the "normal" view. |
|
|
|
|
brendio (OP)
|
|
November 29, 2011, 04:06:00 AM |
|
Only a couple of days left before the price goes up to reflect to decreased time to maturity. Repayments are on track. Still over 3000 available.
|
|
|
|
|
The00Dustin
|
|
December 28, 2011, 02:59:42 PM |
|
brendio (and bidders who aren't buying the bond at the current value price): On the off chance that you haven't seen this (since there are outstanding buy orders that users have probably forgotten, many lower than the initial lended amount): https://bitcointalk.org/index.php?topic=47299.0 |
|
|
|
|
|
sadpandatech
|
|
December 31, 2011, 05:34:48 PM |
|
On what date will the bond issuer buy back the bonds at .104?
Wht date will they become .106?
|
If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system.
- GA
It is being worked on by smart people. -DamienBlack
|
|
|
|
brendio (OP)
|
|
January 03, 2012, 01:07:44 AM |
|
On what date will the bond issuer buy back the bonds at .104?
Wht date will they become .106?
If goat pays back the bond in full by March 1, I will buy back the bonds at 0.1 BTC as soon as the funds clear to my GLBSE account. If the bond is not repaid in full by then, interest at 2% per month will be liable at the end of each month, and I will pay these out as dividends as they are received. |
|
|
|
|
brendio (OP)
|
|
January 03, 2012, 09:46:54 AM |
|
On what date will the bond issuer buy back the bonds at .104?
Wht date will they become .106?
If goat pays back the bond in full by March 1, I will buy back the bonds at 0.1 BTC as soon as the funds clear to my GLBSE account. If the bond is not repaid in full by then, interest at 2% per month will be liable at the end of each month, and I will pay these out as dividends as they are received. Just want to make sure I have this down, assuming I want to go longer than March 1st I then pay you the 2% monthly interest directly? That will be around 7BTC a month? Thanks Yes, the first four months interest is capitalised in the repayment amount. If the bond steps up, you pay interest monthly to me, and I'll pass it on as dividends to sub-bond holders. See clause 2.4 of our contract: 2.4 Step up interest , if applicable, shall be payable at the end of each month until the loan is repaid in full. In the case that the loan is partially repaid, interest shall be due on the maximum balance of the loan for that month. Your outstanding balance will be reduced by the amount you have paid to the security address from one of the cards, so the interest would be less than 7 BTC at the moment. |
|
|
|
|
brendio (OP)
|
|
January 03, 2012, 11:16:33 PM |
|
Just to let you know I was able to get all of the coin to pay off the whole loan while bitcoin went under $3.
Good to hear, for my sake and that of TyGrr shareholders. Once I do pay this off, it might be the most expensive pair of 6990's in dollar terms ever:)
Well, not if you got the bitcoins for under $3. |
|
|
|
|
brendio (OP)
|
|
February 23, 2012, 10:21:08 AM |
|
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
GLBSE Market Announcement
Bitcoin Investment Bank
Assignee of BIB.goat
February 23, 2012
Bitcoin Investment Bank (BIB) have been advised by goat that he intends to allow the bond, listed on GLBSE under ticker BIB.goat, to step up. From March, interest will be due on the maximum monthly balance outstanding on the bond and is payable by the end of each month at a rate of 2% per month. Interest will be paid to holders of BIB.goat as and when goat makes payment to BIB under the terms of the bond. Please allow up to 48 h for processing of interest payments to holders. BIB will not be held laible for delays in interest payment as a result of downtime on GLBSE.
Brendio
CEO, Bitcoin Investment Bank
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.17 (MingW32)
iQEcBAEBAgAGBQJPRhKbAAoJELlDeJJBw5c+28AIAJbRXim8xeqfOJxIZVXW/an4
XIrdZDmwakaLJ6FgCX90giB0XawQUh34BltSC3kcQy3JDThDsgXy9kcx+ROEdIt5
2VCup6VCX9RU3G7mqCe4FqIdY30BtZROnW/nFf27nbnY5Ddp1WTq7PRLE1ojp3/m
qxuZgoXqLJrFFwc6va9ackhZ48a7/koVN+ciAXT1fascCvfu6qbzbG2/6Nn6NqJY
lW3gduIiOkc6KhRj5ZLcei4rMT7Hl9HnbgMI9rwkIvdK/k+z09Wn32gZk93WKwAm
O2fxytEX6HMJczAooh0v1uPHoY2QrdF78YnoipeEFltxAsRHte1JOV9y4Z5Vhkw=
=QYeq
-----END PGP SIGNATURE-----
|
|
|
|
|
brendio (OP)
|
|
March 01, 2012, 01:24:36 PM |
|
Just an update. The step-up date of the bond has now passed and the bonds will not yet be redeemed. Interest will now be paid as dividends in arrears at the end of each month at 2% of the value of the bond. That is, 0.002 BTC per bond.
|
|
|
|
|
brendio (OP)
|
|
March 30, 2012, 10:24:34 AM |
|
Dividend for March had been paid. Note: It is paid is two lots (0.0002 BTC and 0.0018 BTC) because I wanted to make sure I had my calculation correct.
|
|
|
|
|
brendio (OP)
|
|
April 19, 2012, 06:02:45 AM |
|
Stay tuned for an announcement regarding maturity of this bond. I should have further information within the next 24 hours. I suggest you do not trade the asset until the announcement has been made.
A trading halt feature for asset creators on GLBSE would be nice...
|
|
|
|
|
brendio (OP)
|
|
April 20, 2012, 12:36:51 PM |
|
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
Bitcoin Investment Bank Announcement
Security: BIB.goat
Goat having repaid in full all sums owing on this bond, the bond trading on GLBSE under ticker
BIB.goat shall mature on April 30, 2012. On or before midnight (UTC) April 30, 2012, a dividend
shall be issued in the amount of 0.002 BTC per bond, being the stepped-up interest payable for
April, and then all bonds shall be bought back by the issuer for 0.1 BTC per bond.
Depending on whether the functionality exist on GLBSE at the time, buy back will be either
through a bid offer of 0.1 BTC for all outstanding bonds, into which holders will be required
to sell, or bonds will be forceably bought back for 0.1 BTC.
Following the buy back, bonds shall have no rights or value and should not be traded. A request
shall be made to GLBSE to have the ticker delisted.
As all terms of the contract with "Goat" have been fulfilled, the mortgage of the two AMD
Radeon HD 6990 GPU cards shall be released.
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.17 (MingW32)
iQEcBAEBAgAGBQJPkVajAAoJELlDeJJBw5c+OAUH+wccIdLV39pd9MR3u+9ApJ/r
3Qa8TaGHuB19OG14PQjzuvAv4cc20aka7tR37xB9Wi2bHYfnRM24CuDvyW39/O8J
yLQWvdYSVFGWgGBcLfDsimpVqJ9RYRwjmhQclig89Tcuecd53r51nXTAoWHXL478
7wGRkwQgp2NC8gBrg24wNXHSE41/JSjNvnVKc9T9p9NXiC4Q2zjzFMW1a/ketDOW
aBOlaWpjkn5s7x3eSWD1MvF0XMusPiMC+wWhtBoyWydLks4nX5mgkd9ja9yVggd4
S68wXPsvm63j+DqjoBPhSepJhrBtz/aRLzH4n4uCuEWN+9KeJi/S9F6ZFSs2HpI=
=4wg/
-----END PGP SIGNATURE-----
|
|
|
|
|
brendio (OP)
|
|
April 27, 2012, 02:36:07 AM |
|
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
BIB notice of final dividend and bond buyback for BIB.goat
Notice is hereby given that the final dividend for the month of April on BIB.goat has now been paid and a buy back order has been submitted to redeem outstanding bonds at a price of 0.1 BTC per bond. Please sell into this order to obtain you prinicipal from the bond.
No further dividends will be paid. The bond, once redeemed by BIB, with have zero value and will be retired.
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.17 (MingW32)
iQEcBAEBAgAGBQJPmgWdAAoJELlDeJJBw5c+4icH/iLrrvFWICRn1taxfnwLp7tH
K/1b3cz8G4iVHGrFQud0BnJV2R/iw3X1mDJ326pJtnuwYYsDdf88zf1yFn5/E3SC
TA13fngT2g4KDhiXMWyKk2NDNimCVO4ZUCSZ5rY3Hfv5NpYTnAHFK2aICAcA8VEY
zvqrMaZjQb05DORZa9hRfKE9UtM/EeCXHE9wS2+mNs6+/P3UGVsrGfG/qgWkPv4h
o9P5OlZDCmmAevWk7SjuJqvzUmq+M+2IfZT8x36HxfazXUFtTLUqj07zn/WYHJ7W
cFg+y7x9CgIEaNyQT1lK1GzqciCIGtLXDPP4Gm6G3qq/8Vjq50LJjqhc4icXoQw=
=feD9
-----END PGP SIGNATURE-----
Once GLBSE 2.1 is released I'll be able to forcibly redeem the bonds. Holders may choose to wait until then if they wish to avoid the sales commission.
|
|
|
|
|
