[GLBSE] PureMining: Infinite-term, deterministic mining bond

[Nefario]

@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

[mila]

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

[Nefario]

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.

[Meni Rosenfeld]

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

[Meni Rosenfeld]

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

[organofcorti]

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

[Meni Rosenfeld]

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.

[roomservice]

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!

[mila]

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)

[server]

Did you "buy" any of the new bonds yourself ?

[Meni Rosenfeld]

Did you "buy" any of the new bonds yourself ?

I bought 10 bonds, mostly for testing purposes.

[jamesg]

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]

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

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

[Meni Rosenfeld]

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

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.

[server]

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

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.

[labestiol]

Are you planning to get your GLBSE account verified Meni ?

[Nefario]

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.

[Philj]

Just put a bid in, any idea on when you'll be releasing those additional bonds?

[Meni Rosenfeld]

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.

[Meni Rosenfeld]

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