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Author Topic: Auction for a bitcoin bond  (Read 7844 times)
mpkomara
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March 31, 2011, 06:42:55 PM
 #41

95.64
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grondilu
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March 31, 2011, 06:43:25 PM
 #42

Just post your bid and I'll lock the thread once I see block 116,000
theymos
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March 31, 2011, 06:44:16 PM
 #43

96

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
mpkomara
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March 31, 2011, 06:45:40 PM
 #44

96.1
grondilu
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March 31, 2011, 06:49:36 PM
 #45

96.1

mpkomara wins the auction with 96.1 BTC

Paiement should be on this bitcoin address:

13HL9oCYx3JcYAqqm8E5wJe1MgZTP9wKeP

Please provide me a bitcoin address for paying you back 100 BTC at maturity.


Sorry for other bidders.  Had I known there would be that many people interested, I would have ended the auction on IRC.
theymos
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March 31, 2011, 06:53:15 PM
 #46

mpkomara beat me at the last moment. Tongue

This is an interesting way to get a loan. It seems much more effective than the normal way.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
Vandroiy
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March 31, 2011, 06:53:22 PM
 #47

Hey, nice thread to measure traders' expectations.

Looks like people expect an inflation of BTCs in the near future. Almost everyone would rather have less than 100 BTC now than 100 BTC later.

Might be an indicator for traders to sell some BTC. Maybe I should have waited with my selling offer... on the other hand, maybe the traders only didn't appear because the amount is too low? Who knows~
grondilu
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March 31, 2011, 06:55:14 PM
 #48

This is an interesting way to get a loan. It seems much more effective than the normal way.

It *is* the normal way Smiley

It should be, anyway.


@mpkomara:

I'm waiting for your paiement.  Please also provide me your bitcoin address here in this thread.
theymos
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March 31, 2011, 07:02:02 PM
 #49

A website that manages loans like this might be a good idea for a project. It could calculate the appropriate starting bid and bond amount based on the specified minimum loan amount and maximum interest rate. I'd certainly be interested in loaning to reputable individuals. It might be fun.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
grondilu
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March 31, 2011, 07:07:12 PM
 #50


ok I acknowledge paiement.  Please post your bitcoin address on this thread so I can sign it along with the bond terms.
mpkomara
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March 31, 2011, 07:08:18 PM
 #51

1EWMwa7GEj4V5x1BF67pJq68HHbHB4qXMc

@vanadroiy:  i would have paid more, but don't forget counterparty risk.  in this case, grondilu has very good credit.
grondilu
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March 31, 2011, 07:12:00 PM
 #52

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

mpkomara won the auction and I acknowledged paiement in due time.

He provided me the following  bitcoin address:
1EWMwa7GEj4V5x1BF67pJq68HHbHB4qXMc

This bitcoin address will be used to pay the nominal at maturity.
> -----BEGIN PGP SIGNED MESSAGE-----
> Hash: SHA1
>
> As a proof of concept, I hereby launch an auction for a bitcoin bond.
>
> This means that I promess to pay a certain amount of bitcoin (called "nominal"), at a certain date (called "maturity").  The nominal is 100 BTC.  Maturity will occur at block number 120,000.
>
> I sell this bond in an auction process that will occur on this thread.  To bid, just post a message with your bid in bitcoins.  Auction will end at block number 116,000.  Paiement should then be done within 10 blocks.
>
> No starting price, but if at the end I'm not happy with the final winning bid, I will cancel the auction.
>
> If selling does occur, I will materialize it with a GnuPG signed document where I will mention whe nominal, the maturity and the bitcoin address where the nominal should be paid at maturity.
>
> Happy bidding!
> -----BEGIN PGP SIGNATURE-----
> Version: GnuPG v1.4.11 (GNU/Linux)
>
> iEYEARECAAYFAk2UNq0ACgkQq17371C4DmhQIQCg86UwjCUt0q8iyojsOXUI7juB
> BpsAn2UtxuFqtXpLPwedvnYap+m2wrx9
> =qC0c
> -----END PGP SIGNATURE-----
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (GNU/Linux)

iEYEARECAAYFAk2U0doACgkQq17371C4Dmi42wCeI/odd75ulRfscbg5lllnSYW/
OTYAnA8Ec616wA/JFV3y7qRBVsm37HgA
=8+9B
-----END PGP SIGNATURE-----
mndrix
Michael Hendricks
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March 31, 2011, 07:59:18 PM
 #53

A website that manages loans like this might be a good idea for a project. It could calculate the appropriate starting bid and bond amount based on the specified minimum loan amount and maximum interest rate. I'd certainly be interested in loaning to reputable individuals. It might be fun.

I agree.  For those who haven't seen the thread, there are some interesting ideas about how to operate a Bitcoin lending website at http://bitcointalk.org/index.php?topic=5027.0

I would love to make such a site, but already have too many irons in the fire
grondilu
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April 24, 2011, 11:14:56 PM
 #54

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Maturity has almost been reached (current latest block is 119998)
Here is the hash of the paiement transaction:

00ebc0bfbc8074b75f3b09cf8b546eef64e27a2d6222f76ed40c8b49615500ad

>-----BEGIN PGP SIGNED MESSAGE-----
>Hash: SHA1
>
>mpkomara won the auction and I acknowledged paiement in due time.
>
>He provided me the following  bitcoin address:
>1EWMwa7GEj4V5x1BF67pJq68HHbHB4qXMc
>
>This bitcoin address will be used to pay the nominal at maturity.
>> -----BEGIN PGP SIGNED MESSAGE-----
>> Hash: SHA1
>>
>> As a proof of concept, I hereby launch an auction for a bitcoin bond.
>>
>> This means that I promess to pay a certain amount of bitcoin (called "nominal"), at a certain date (called "maturity").  The nominal is 100 BTC.  Maturity will occur at block number 120,000.
>>
>> I sell this bond in an auction process that will occur on this thread.  To bid, just post a message with your bid in bitcoins.  Auction will end at block number 116,000.  Paiement should then be done within 10 blocks.
>>
>> No starting price, but if at the end I'm not happy with the final winning bid, I will cancel the auction.
>>
>> If selling does occur, I will materialize it with a GnuPG signed document where I will mention whe nominal, the maturity and the bitcoin address where the nominal should be paid at maturity.
>>
>> Happy bidding!
>> -----BEGIN PGP SIGNATURE-----
>> Version: GnuPG v1.4.11 (GNU/Linux)
>>
>> iEYEARECAAYFAk2UNq0ACgkQq17371C4DmhQIQCg86UwjCUt0q8iyojsOXUI7juB
>> BpsAn2UtxuFqtXpLPwedvnYap+m2wrx9
>> =qC0c
>> -----END PGP SIGNATURE-----
>-----BEGIN PGP SIGNATURE-----
>Version: GnuPG v1.4.11 (GNU/Linux)
>
>iEYEARECAAYFAk2U0doACgkQq17371C4Dmi42wCeI/odd75ulRfscbg5lllnSYW/
>OTYAnA8Ec616wA/JFV3y7qRBVsm37HgA
>=8+9B
>-----END PGP SIGNATURE-----
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (GNU/Linux)

iEYEARECAAYFAk20r64ACgkQq17371C4Dmg7wwCcD4+og03O6wNZlKzjZr5Dk0G6
BBIAoL8ZcgHTf6utteGXt0SYe+YPVPIA
=6C0i
-----END PGP SIGNATURE-----
Alex Beckenham
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April 25, 2011, 02:13:45 AM
 #55

grondilu, I'd be interested to hear if you made profitable use of the coins in the time that you held them, or if this was just an experiment that cost you 3.9 BTC.

grondilu
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April 25, 2011, 02:25:14 AM
 #56

grondilu, I'd be interested to hear if you made profitable use of the coins in the time that you held them, or if this was just an experiment that cost you 3.9 BTC.


I did sell some of these 96.1 BTC and then bought others at a lower price.

But I could have used my own bitcoins.

So to tell you the truth, it was much more of a proof of concept that I wanted to make.

Might be usefull for my reputation if I have to borrow bitcoins in the future, though.
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