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Author Topic: [GLBSE] PureMining: Infinite-term, deterministic mining bond  (Read 34946 times)
Nefario
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March 30, 2012, 07:57:07 PM
 #81

@fees for issuing new shares for existing assets, that would be free of charge

That'd be nice, but probably Nefario's call.

Nefario wrote that elsewhere and I was merely quoting him

I may not know the difference between bond and share but reading & writing about stuff I read I can

I'd welcome cheaper creation of sub-assets in general
does glbse know / recognize ticker.sub as a sub-asset or is that concatenated automatically if the new asset is issued by an asset manager (instead of general user)?

GLBSE knows base asset names. E.g. I have GLBSE, then only I'm allowed to create GLBSE.SUB

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mila
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March 31, 2012, 06:03:06 AM
 #82

does glbse know / recognize ticker.sub as a sub-asset or is that concatenated automatically if the new asset is issued by an asset manager (instead of general user)?

GLBSE knows base asset names. E.g. I have GLBSE, then only I'm allowed to create GLBSE.SUB

but how? which user can (can't ) do that?
is the glbse base name owned by the user or by the asset manager account? do I have to enter glbse.sub in the ticker field or is it enough to type SUB and the name would be fixed by glbse depending on the user that is issuing the asset?

 think I'll figure it out in dev environment

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Nefario
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April 01, 2012, 01:26:18 AM
 #83

does glbse know / recognize ticker.sub as a sub-asset or is that concatenated automatically if the new asset is issued by an asset manager (instead of general user)?

GLBSE knows base asset names. E.g. I have GLBSE, then only I'm allowed to create GLBSE.SUB

but how? which user can (can't ) do that?
is the glbse base name owned by the user or by the asset manager account? do I have to enter glbse.sub in the ticker field or is it enough to type SUB and the name would be fixed by glbse depending on the user that is issuing the asset?

 think I'll figure it out in dev environment

It's owned by users accounts.

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Meni Rosenfeld
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April 02, 2012, 04:21:51 AM
 #84

Coupon payment summary for March 2012 (total 0.020971201 BTC per bond):

Code:
Block number Timestamp        Timestamp (Unix) Elapsed time Difficulty Block reward Coupon    Status
173711    Mar 31 2012 10:48:33  1333190913          191299    1626553.48133 50        0.0013691609 Paid
173375    Mar 29 2012 05:40:14  1332999614          189190    1498294.36282 50        0.0014699791 Paid
173039    Mar 27 2012 01:07:04  1332810424          188874    1498294.36282 50        0.0014675239 Paid
172703    Mar 24 2012 20:39:10  1332621550          187759    1498294.36282 50        0.0014588605 Paid
172367    Mar 22 2012 16:29:51  1332433791          182131    1498294.36282 50        0.0014151317 Paid
172031    Mar 20 2012 13:54:20  1332251660          188758    1498294.36282 50        0.0014666226 Paid
171695    Mar 18 2012 09:28:22  1332062902          177628    1498294.36282 50        0.0013801441 Paid
171359    Mar 16 2012 08:07:54  1331885274          216701    1496978.59502 50        0.0016852156 Paid
171023    Mar 13 2012 19:56:13  1331668573          183894    1496978.59502 50        0.0014300859 Paid
170687    Mar 11 2012 16:51:19  1331484679          187929    1496978.59502 50        0.0014614648 Paid
170351    Mar 09 2012 12:39:10  1331296750          180784    1496978.59502 50        0.0014059004 Paid
170015    Mar 07 2012 10:26:06  1331115966          202337    1496978.59502 50        0.0015735113 Paid
169679    Mar 05 2012 02:13:49  1330913629          237283    1496978.59502 50        0.0018452753 Paid
169343    Mar 02 2012 08:19:06  1330676346          182339    1376302.26789 50        0.0015423250 Paid

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April 02, 2012, 04:22:22 AM
 #85

I have issued 500 new bonds (a total of 1000), at 0.36 BTC per bond.

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April 02, 2012, 06:24:00 AM
 #86

Well, that sold out fast. Glad I had an order in.

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April 02, 2012, 07:09:59 AM
 #87

Well, that sold out fast. Glad I had an order in.
Yeah, demand had some time to build up while we were waiting for issuing to be implemented.

On that note, I no longer consider this a proof of concept, there's serious money involved, and I plan to issue more bonds over the next 6 weeks.

For now, I will issue 1000 more bonds later this week.

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April 02, 2012, 07:19:20 AM
 #88

Well, that sold out fast. Glad I had an order in.
Yeah, demand had some time to build up while we were waiting for issuing to be implemented.

On that note, I no longer consider this a proof of concept, there's serious money involved, and I plan to issue more bonds over the next 6 weeks.

For now, I will issue 1000 more bonds later this week.

Awesome! Hope i'am able to get a peace of cake this time!

"Tonight's the night. And it's going to happen again, and again. It has to happen. Nice night."
mila
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April 02, 2012, 08:38:50 AM
 #89

Awesome! Hope i'am able to get a peace of cake this time!

just don't leave open bids @.7 or any other significant price above the sale price from Meni or you end up paying a lot more (see history price graph and twitter feed for this issue's data)

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April 02, 2012, 08:59:27 AM
 #90

Did you "buy" any of the new bonds yourself ?
Meni Rosenfeld
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April 02, 2012, 09:55:03 AM
 #91

Did you "buy" any of the new bonds yourself ?
I bought 10 bonds, mostly for testing purposes.

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April 02, 2012, 09:58:03 AM
 #92

I have issued 500 new bonds (a total of 1000), at 0.36 BTC per bond.

Very interesting. Seems this bond is doing well.
labestiol
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April 02, 2012, 12:27:44 PM
 #93

Did you "buy" any of the new bonds yourself ?
I bought 10 bonds, mostly for testing purposes.

Ok, but if you buy bonds from yourself then you get these for free, you pay yourself...

Do you know what the total numbers of bonds will be ?

I'm asking this because I had 10% of your bonds but overnight my part is reduced to 5% because you doubled the number of bonds.

I guess the dividend will also be 50% less for bondholders that didn't double their number of bonds Sad

It's a bond, not a company share... Your dividend coupon will stay exactly the same, as described in the formula in the first post

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Meni Rosenfeld
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April 02, 2012, 05:29:59 PM
 #94

Did you "buy" any of the new bonds yourself ?
I bought 10 bonds, mostly for testing purposes.

Ok, but if you buy bonds from yourself then you get these for free, you pay yourself...

Do you know what the total numbers of bonds will be ?

I'm asking this because I had 10% of your bonds but overnight my part is reduced to 5% because you doubled the number of bonds.

I guess the dividend will also be 50% less for bondholders that didn't double their number of bonds Sad

It's a bond, not a company share... Your dividend coupon will stay exactly the same, as described in the formula in the first post
This. The whole point is that your payments do not depend in any way on anything that I do. If you buy 50 bonds you get 50MH/s worth of payments according to a deterministic (up to external conditions) algorithm.

So buying my own bonds has no functional effect, though it could have perception effects. In any case I only keep a symbolic amount for testing purposes.

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April 02, 2012, 07:25:32 PM
 #95

Did you "buy" any of the new bonds yourself ?
I bought 10 bonds, mostly for testing purposes.

Ok, but if you buy bonds from yourself then you get these for free, you pay yourself...

Do you know what the total numbers of bonds will be ?

I'm asking this because I had 10% of your bonds but overnight my part is reduced to 5% because you doubled the number of bonds.

I guess the dividend will also be 50% less for bondholders that didn't double their number of bonds Sad

It's a bond, not a company share... Your dividend coupon will stay exactly the same, as described in the formula in the first post
This. The whole point is that your payments do not depend in any way on anything that I do. If you buy 50 bonds you get 50MH/s worth of payments according to a deterministic (up to external conditions) algorithm.

So buying my own bonds has no functional effect, though it could have perception effects. In any case I only keep a symbolic amount for testing purposes.

Sorry, my mistake, I didn't know the difference between stocks and bonds but now I understand, thank you for explaining. Smiley
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April 02, 2012, 08:20:06 PM
 #96

Are you planning to get your GLBSE account verified Meni ?

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Nefario
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April 02, 2012, 08:25:50 PM
 #97

Are you planning to get your GLBSE account verified Meni ?

He's going to have to wait a couple of days.

There is a backlog and I'm dealing with quite a lot ATM.

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April 02, 2012, 10:32:48 PM
 #98

Just put a bid in, any idea on when you'll be releasing those additional bonds?
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April 03, 2012, 07:19:31 AM
 #99

Are you planning to get your GLBSE account verified Meni ?
I have already provided Nefario with some identifying information and will provide more. He is still processing it.

In case this question was inspired by the Goat issue, Nefario has multiple channels to communicate with me, and I will be actively looking for ways to minimize the probability of someone cracking my account, and to keep the potential damage in this contingency at a level I can absorb. (eg, I may request Nefario to only allow changing my password if I ok it over the phone, or to stiffen the conditions under which new bonds can be issued.)

Just put a bid in, any idea on when you'll be releasing those additional bonds?
It will probably be on Thursday or Friday.

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Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
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April 05, 2012, 11:42:04 AM
 #100

I issued 1000 new bonds at 0.38 BTC, for a total of 2000.

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Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
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