imsaguy's Enormously Interesting Extended Investment Opportunity

[imsaguy]

Updated availability.  This Sunday is dividends for both plans.   Plan A will pay out/reinvested according to user preferences, Plan B is currently pay out only.

[imsaguy]

Switched availability to Plan A. There's a narrow window on this opportunity, so let's make it happen folks!

[imsaguy]

Switched availability to Plan A. There's a narrow window on this opportunity, so let's make it happen folks!

Thanks to everyone that participated.  At this point, I think we're in a good spot.  The next phase will be maximizing revenues and returning capital.

[imsaguy]

Just got back from Father's day activities.  Paid out A, working on B.  Had some issues with the scripts so I'm switching to manual.  Please bear with me, everyone will get paid ASAP.

[PatrickHarnett]

What, there was Plan 9 from outer space availability?  Missed it.

Thanks for the div

[imsaguy]

Ok, dividends are out, with about a minute to spare according to my clock before we roll to 12:00 it just rolled over as I type this.  If you didn't get a dividend, it means there was a problem like you don't have a withdrawal address on file (Plan B people).  Any errors will be sorted tomorrow, just send me a pm. 

[hongus]

also I see that you are part of the GLBSE PPT cabal, are any of these OEIO funds being fed through in to Pirate's S&T, or are they completely isolated from any risk there or associated with P's borrowing? In other words do you guarantee the funds lent to you here in the event of a P default?

This OEIO isn't a FPS&T arb.  I do retain some holdings at FPS&T but its only for idle coins I don't have in play for other things.  THIS OEIO has been used to expand my mining operation (just yesterday purchased another 5GH of gpus), to take advantage of various market arbs, as well as some short term loans to various parties.  My exposure to PPT is currently 100 BTC and will always be a measured risk shared with the other 5 parties.

@INAU many thanks, I take it then that you do therefor guarantee these OEIO funds in full in the event of a Pirate default - that's what I was hoping & had assumed when I made my investment therefor I am happy to leave it with you for diversification purposes & to support your mining ops etc

Let's face it, a FPS&T default would have major effects on the economy and it wouldsome effect on my short term liquidity. I keep a local slush for everyday transactions. I keep some funds at fps&t. I keep funds at various markets. I have pending payouts from a multitude of pools.

If everyone asked for a withdrawal at the exact same time, I would have some issues.  If I sat on all coins invested with me, I might as well just return them as idle coins make no money other than possible appreciation.

In short, in the case of a fps&t default, I would honor all of my current debts and investments.

With all this talk nowadays about Pirate defaulting, this statement is still true right?

[imsaguy]

In short, in the case of a fps&t default, I would honor all of my current debts and investments.

With all this talk nowadays about Pirate defaulting, this statement is still true right?

Yes.  ASIC and the reward halving will have more impact on my long term plans than a pirate default.

[imsaguy]

How would people feel about me issuing an asset on GLBSE for EIEIO?  Once you hit the 6% threshold, you'd receive 1 bond per 1 btc you have invested and it'd pay .06 every two weeks just like it does now.  The difference being, that if you want out or want to lessen your exposure, you could sell it to the market at large.  The opposite would also be true.. if someone wanted in, they could actually bid over 1 btc which would reduce their yield a bit, but still allow them access to a pretty high, non-pirate related asset.  Should I make this a poll?  Should I only convert those that want to be converted?  I've certainly not made a decision, just stewing over different ideas to help people out.

[PatrickHarnett]

I think I've mentioned my position directly - but might be interested in buying some more (or selling if the price is good).

[Otoh]

How would people feel about me issuing an asset on GLBSE for EIEIO?  Once you hit the 6% threshold, you'd receive 1 bond per 1 btc you have invested and it'd pay .06 every two weeks just like it does now.  The difference being, that if you want out or want to lessen your exposure, you could sell it to the market at large.  The opposite would also be true.. if someone wanted in, they could actually bid over 1 btc which would reduce their yield a bit, but still allow them access to a pretty high, non-pirate related asset.  Should I make this a poll?  Should I only convert those that want to be converted?  I've certainly not made a decision, just stewing over different ideas to help people out.

Yep, I'm all for this.

[zapeta]

How would people feel about me issuing an asset on GLBSE for EIEIO?  Once you hit the 6% threshold, you'd receive 1 bond per 1 btc you have invested and it'd pay .06 every two weeks just like it does now.  The difference being, that if you want out or want to lessen your exposure, you could sell it to the market at large.  The opposite would also be true.. if someone wanted in, they could actually bid over 1 btc which would reduce their yield a bit, but still allow them access to a pretty high, non-pirate related asset.  Should I make this a poll?  Should I only convert those that want to be converted?  I've certainly not made a decision, just stewing over different ideas to help people out.

I think the main problem is that if you want to get your BTC out you are at the mercy of the bids on the market which could be less than 1 btc.  Obviously it could go higher as well.  Unless you plan on having an outstanding, permanent bid at 1BTC or you want to increase the dividends to compensate for the price risk, I'm opposed because I'm not willing to take on the extra risk of the bid fluctuation.

[John (John K.)]

How would people feel about me issuing an asset on GLBSE for EIEIO?  Once you hit the 6% threshold, you'd receive 1 bond per 1 btc you have invested and it'd pay .06 every two weeks just like it does now.  The difference being, that if you want out or want to lessen your exposure, you could sell it to the market at large.  The opposite would also be true.. if someone wanted in, they could actually bid over 1 btc which would reduce their yield a bit, but still allow them access to a pretty high, non-pirate related asset.  Should I make this a poll?  Should I only convert those that want to be converted?  I've certainly not made a decision, just stewing over different ideas to help people out.

I think the main problem is that if you want to get your BTC out you are at the mercy of the bids on the market which could be less than 1 btc.  Obviously it could go higher as well.  Unless you plan on having an outstanding, permanent bid at 1BTC or you want to increase the dividends to compensate for the price risk, I'm opposed because I'm not willing to take on the extra risk of the bid fluctuation.

This +1. You can put a bid wall at 1BTC though, this solves the problem of liquidity for the shareholders.

[Otoh]

agreed, would need that, I knew that there was something I'd overlooked that was nagging at my choice, small bid wall or by PM for quantities like withdrawal requests now at 1.

[imsaguy]

2 Withdrawals today from .B so there's a bit of availability.

It seems the GLBSE idea will need some thinking if it were to work.  It was only an idea to let people get in/out without necessarily having to  talk to me directly. 

[imsaguy]

Just a heads up, .B payments went out early today.  I was planning to do .A as well, but some stuff came up.  They'll go out according to schedule tomorrow.

[der_meister]

Received (plan B), cheers and beautiful Sunday

[JWU42]

Thanks!

[imsaguy]

Spent most of the day working in the yard and then remembered that I hadn't paid out .A yet.  I just paid .A.  Have a good night everyone.

[Otoh]

@imsa, PM'd you earlier today