B

[glbse]

Extra dividend payment for Tygrr-Bank shareholders

[mila]

will be interesting to watch https://glbse.com/asset/view/TYGRR-BANK for weekly dividend payments
that shows now also number of shares that got them ...

rofl. no shares have been bought back by goat. they all remain in circulation.
whoever bought back roomservice's position it was not the issuer's account
at least technically no bond was sold back to issuer and whoever the mystery buyer was today, it's not the asset-manager account. simply looking at the number of shares that got the dividends.

if it is an unintended mismanagement and the bonds are in your private account, you'll be paying to yourself every time you pay dividends, unless you transfer them to tygrr-bank account. only that way they won't count in future.

[hashking]

I PM'D Goat this afternoon asking him that I should have still received my dividends even though I sold my bonds before they were paid.  I ended up selling 926 bonds on Tuesday and Wednesday this week before the whole Goat and Nefario drama happenned. 

His first repsond through email on the GLBSE was
Nefario is the only one with the technical skills to wort this out. I'm all about free market and he is about regulation. He is your man!

So I emailed Nefario and he said that Goat is responsible for this.   

I PM'd Goat and told him what Nefario said, Goat responds with
okay, make a discussion thread about this if you want me to respond. i hope you are not just trolling :/

I toldl Goat that it would be easier just to handle this through pm.

His response is:

you are saying I scammed you right? You need to take this to the trading discussion sub-forum so you can be educated how bonds work. :/
I do not have time for this right now, Sorry.

I never said that he scammed me.  All I did was ask for money that was owed to me and how do we resolve this.

According to his offering
https://bitcointalk.org/index.php?topic=67818.0

In my opinion he sold bonds not knowing how the GLBSE would handle trading on them and promised a .1 BTC per bond buyback.

I bought 926 bonds at 99.90 and sold 926 bonds at 77.252.  I didn't received Goats promised .1 BTC per bond like promised in his post. 
So currently he owes me 15.34 BTC for the price difference in bonds and 2.778 for the dividends.

Edit:

I will be selling a 2000 more bonds and lowering the payment to 2.5% on April 3rd. This means that the dividends on March 27th and April 3rd will be at 3% but after that it will be 2.5% until I change it (odds are lower it)

End Edit:

TyGrr-Bank Now operational on GLBSE!

TyGrr-Bank is a BTC bond that will pay weekly dividends every Tuesday 6:00 PM Thailand time.

This is an easy and safe way to lend small amounts of BTC.

The current rate is 3% each week!

Each bond will be sold at .103 BTC and will be bought back at any time at .1 BTC.

This spread is here because you do not need to hold the bond for a full week to get the dividend payment.


Thanks!

  

Maybe this should get delisted.

[stochastic]

I PM'D Goat this afternoon asking him that I should have still received my dividends even though I sold my bonds before they were paid.  I ended up selling 926 bonds on Tuesday and Wednesday this week before the whole Goat and Nefario drama happenned. 

His first repsond through email on the GLBSE was
Nefario is the only one with the technical skills to wort this out. I'm all about free market and he is about regulation. He is your man!

So I emailed Nefario and he said that Goat is responsible for this.   

I PM'd Goat and told him what Nefario said, Goat responds with
okay, make a discussion thread about this if you want me to respond. i hope you are not just trolling :/

I toldl Goat that it would be easier just to handle this through pm.

His response is:

you are saying I scammed you right? You need to take this to the trading discussion sub-forum so you can be educated how bonds work. :/
I do not have time for this right now, Sorry.

I never said that he scammed me.  All I did was ask for money that was owed to me and how do we resolve this.

According to his offering
https://bitcointalk.org/index.php?topic=67818.0

In my opinion he sold bonds not knowing how the GLBSE would handle trading on them and promised a .1 BTC per bond buyback.

I bought 926 bonds at 99.90 and sold 926 bonds at 77.252.  I didn't received Goats promised .1 BTC per bond like promised in his post. 
So currently he owes me 15.34 BTC for the price difference in bonds and 2.778 for the dividends.

Edit:

I will be selling a 2000 more bonds and lowering the payment to 2.5% on April 3rd. This means that the dividends on March 27th and April 3rd will be at 3% but after that it will be 2.5% until I change it (odds are lower it)

End Edit:

TyGrr-Bank Now operational on GLBSE!

TyGrr-Bank is a BTC bond that will pay weekly dividends every Tuesday 6:00 PM Thailand time.

This is an easy and safe way to lend small amounts of BTC.

The current rate is 3% each week!

Each bond will be sold at .103 BTC and will be bought back at any time at .1 BTC.

This spread is here because you do not need to hold the bond for a full week to get the dividend payment.


Thanks!

  

Maybe this should get delisted.

I think GLBSE and goat has stated that you have to actually hold the bond for the payment to be received.  I think this is one of those special circumstances that just lost you money.  I also had bonds during the crisis and was not paid, but they were bought from me before the dividends were paid.  Luckily I purchased mine under what I sold them for.

I think the TyGrr-Bank contract should be updated whenever GLBSE allows this to occur.  This would make the day that payments would be sent out, the percentage of the dividend, and any procedures for late payments.

[hashking]

His offering does not state that. It states that bomds will be purchased back at .1 bitcoins.

[stochastic]

His offering does not state that. It states that bomds will be purchased back at .1 bitcoins.

Ouch, that is rough and you sold them for ~0.08342 BTC each.

I would be interested in knowing who purchased up all the low asks an hour before dividends were paid.  Seems a little too convenient to me.

[John (John K.)]

His offering does not state that. It states that bomds will be purchased back at .1 bitcoins.

It does. He also states that you have to contact him for the bonds to be purchased back at .1 bitcoins in the thread. You sold the bonds to others at a lower price, hence it is illogical to presume anyone except him would hold to the promise that the bonds would be purchased at .1 bitcoins. Did he refuse to repurchase the bonds at the .1 btc?

[hashking]

I put a small bid up at .1  I will add more to the account if people want to sell more. Because of what happened I will not longer keep 1000 BTC in my account. If you would like to sell back to me at .1 that is fine, let me know how many and I will add the BTC. I can do this now because the account is unlocked.

Thank you, Jared

Then why won't you reimburse me for my shares and pay me my dividend.  If you buried your rules in different spots of your thread thats your fault.

[stochastic]

I put a small bid up at .1  I will add more to the account if people want to sell more. Because of what happened I will not longer keep 1000 BTC in my account. If you would like to sell back to me at .1 that is fine, let me know how many and I will add the BTC. I can do this now because the account is unlocked.

Thank you, Jared

Then why won't you reimburse me for my shares and pay me my dividend.  If you buried your rules in different spots of your thread thats your fault.

I understand your pain but how can you prove you even owned those shares?  Also, you had plenty of opportunity to read the whole thread.  I know I did.

[Kluge]

So currently he owes me 15.34 BTC for the price difference in bonds and 2.778 for the dividends.

After a bit of thought, I've decided I will cover this. 18.118 is due. 1.38 was just transferred. The remaining 16.738BTC will be covered tomorrow morning.


Cheers,

Ben

ETA: Rest of the payment sent ~10:40AM US Eastern, 4/6

ETA2: HK, around 10:40PM US Eastern, 4/6, insisted on returning the coins to me. I'm not sure how I feel, but I accepted his offer and very much appreciate it. Cheers!

[stochastic]

So currently he owes me 15.34 BTC for the price difference in bonds and 2.778 for the dividends.

After a bit of thought, I've decided I will cover this. 18.118 is due. 1.38 was just transferred. The remaining 16.738BTC will be covered tomorrow morning.


Cheers,

Ben

Wow, that was unexpected. And in my opinion not really needed. I understand why you are doing this but its a free market and reversing trades can not be the norm.

@hashking In the future if you sell then you sell. Some one was willing to take the risk that I was not going to default. They should not be punished cuz you changed your mind after panicking. If I did default could they ask you for their money back? lulz.

The squeaky wheel gets the grease.  I hope for Kluge not everyone asks for their dividends they did not receive.

[flower1024]

The squeaky wheel gets the grease.  I hope for Kluge not everyone asks for their dividends they did not receive.

me does not ask for dividens which i did not received
i sold all my tygrr-banks for new tygrr-bot ones.

but i am fine... i dont think we should blame goat for nefarios fault.

[The00Dustin]

but i am fine... i dont think we should blame goat for nefarios fault.

It's a free market, and it's hashking's fault that hasking sold the bonds for less than face value.  No one else has any fault here unless you're implying that dividends should be paid to shareholders as of record (so to who held the bonds on Tuesday at a given time, the normal day for payments).  However, GLBSE has never claimed to offer such a feature, so blaming Nefario for not offering a feature he never seemed to offer doesn't make sense.  Lots of people will be out lots of money if bitcoin fails, and this wil be their fault for investing in bitcoin, not Satoshi's for inventing it.

ETA (as cross-posted to hashking's thread):  Also, for the record, a bid wall to pay back the bonds defeats the purpose of a bond, borrowing the face value.  For instance, why would someone borrow $100 from you if I had to leave it where you could get to it?  (Hint: They wouldn't, they borrow it to spend it.)  Moreover, the contract said Goat wil buy back the bonds at any time, everyone is inferring that this means he will buy them back whenever they want him to, and this may have been implied elsewhere, but the way it was worded in the original contract (again, for a loan), would only imply that the bonds don't expire, not that you get to collect face value on a whim.  In fact, I believe this was discussed early in the TyGrr-Bank thread (something about when Goat decides to buyback, he will put the money back in GLBSE, puts up a bid wall for all open shares, and ceases to pay interest).  IOW, ANY suggestion that Hashking had ANY right to more than what he CHOSE to sell the bonds for is ridiculous, and the fact that Goat is buying back bonds on request is him going above and beyond to make those requestors happy.

[molecular]

His offering does not state that. It states that bomds will be purchased back at .1 bitcoins.

Ouch, that is rough and you sold them for ~0.08342 BTC each.

I would be interested in knowing who purchased up all the low asks an hour before dividends were paid.  Seems a little too convenient to me.

jesus christ! At the time everyone was in a panic and some people thought to themselves: better sell them for 0.08 than be sorry and sell for 0.0. Their decision.

The market continued trading and if someone sold, he sold.
Dividends were payed late due to "technical difficulties", it was to be expected they would be payed if situation was resolved.

I sold 500 in panic myself at 0.0999 or something and bought back for an average price of roughly 0.011. I missed the dividend payment: so what, it's my own fault.

The people that bought shares for 0.05 to 0.09999 were taking very high perceived risk at the time and are now rewarded. They might've just as well lost everything and the seller would've made a good deal.

hindsight is 50/50, you can't complain now because things didn't go the way you feared they would go.

[The00Dustin]

The people that bought shares for 0.05 to 0.09999 were taking very high perceived risk at the time and are now rewarded. They might've just as well lost everything and the seller would've made a good deal.

The people involved with class warfare arguments fall into two groups.  The ones who don't get it (and/or want something for nothing), and the ones who have much to gain by fleecing the dumb (and/or playing robin hood for those who want something for nothing). It saddens me that there are alredy people involved with bitcoin who believe they are entitled to bitcoin welfare and bitcoin bailouts.

[mila]

bitcoin welfare and bitcoin bailouts.

yes! let's be responsible for the ignorance of others!
I sold after dividend 1 (goat's coupon) but before dividend 2 (glbse sorry payment), where shall I apply for the lost money?
 </sarcasm>

[The00Dustin]

I sold

you chicken you

[exahash]

Suggestion:  add a note to the OP (and perhaps on GLBSE) that dividends are owed to and paid to only the holders of record at the time dividends are paid.

People used to "regular" stock markets might be expecting there to be the usual ex-dividend, record, and payment dates.

[mila]

I sold

you chicken you

not 100 %
and I did not buy @.103  ; )

[mila]

Suggestion:  add a note to the OP (and perhaps on GLBSE) that dividends are owed to and paid to only the holders of record at the time dividends are paid.

People used to "regular" stock markets might be expecting there to be the usual ex-dividend, record, and payment dates.

the main developer is aware of that and afaik it's in his to do list
but thanks for insight to 'regular' markets