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Author Topic: Selling Credit Default Swaps on imsaguy  (Read 5441 times)
RaggedMonk
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March 29, 2012, 08:26:11 PM
 #21

Watching.

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

I have provisionally agreed to be the event occurrence arbiter, subject to the creation of, and my agreement to, more specific definitions of credit events for the contract, which are currently being worked on.
-----BEGIN PGP SIGNATURE-----

iEYEARECAAYFAk90oroACgkQ5/k4vslVlLIahACdEZwW7CByJwETP58kX88HH5x6
yu8An0GAo2uI2x5pz0R4jUAaq94GoVRu
=Ii36
-----END PGP SIGNATURE-----

+1 and QFT. nanotube is a strong choice for arbiter
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Stephen Gornick
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March 30, 2012, 12:30:35 AM
 #22

This offer to sell was added to the list of Bitcoin Firsts.  If there are actual buyers, please update the wiki to reflect the change from first offer to first sale of a Bitcoin-only CDS.
 - http://en.bitcoin.it/wiki/Bitcoin_Firsts

nanotube
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March 30, 2012, 02:46:24 AM
 #23

This offer to sell was added to the list of Bitcoin Firsts.  If there are actual buyers, please update the wiki to reflect the change from first offer to first sale of a Bitcoin-only CDS.
 - http://en.bitcoin.it/wiki/Bitcoin_Firsts

Nice.

Although slightly OT, when was the first BTC loan extended ?

Anyone been here long enough to remember ?


Not sure if the first loan coincided with the first short sale... but if so, then yes, I remember. :) October 28, 2010
https://en.bitcoin.it/wiki/History

sgornick: any reason the 'bitcoin first' page is separate from the older History page?

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Stephen Gornick
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March 30, 2012, 08:30:36 AM
 #24

sgornick: any reason the 'bitcoin first' page is separate from the older History page?

Ya, probably so that the History page was more specific to bitcoin, but firsts was for trivia and only true firsts.

Like maybe going to v0.6 release is enough to make it into the History, but not something that would go into firsts.
At the same time, the first food truck to start using bitcoin might be something suitable for the Firsts page but would be extraneous in the Bitcoin History page.

FredericBastiat
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March 30, 2012, 05:51:45 PM
 #25

In the way of firsts, if copumpkin is offering CDS's, I'll offer the first CDS Options referencing his CDS which will be labeled 'OP_pump_kin_CDS' for puts and 'OC_pump_kin_CDS' for calls.

Definition:
CDS option: A credit default swaption or credit default option is an option to buy protection (payer option) or sell protection (receiver option) as a credit default swap on a specific reference credit with a specific maturity.

Derivatives are cool. It just so happens that they also tend to cause systemic risk in many cases.

Any takers?

http://payb.tc/evo or
1F7venVKJa5CLw6qehjARkXBS55DU5YT59
copumpkin
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April 01, 2012, 03:01:34 AM
 #26

Sorry for the delay on more detailed terms of default. There are some tricky bits I'm still working out, but I'll have them up soon.

Also, about people's requests for pirateat40 CDSes, I've decided against offering them. This is not because I don't have faith in him (I'm one of his largest lenders), but because it simply isn't in my interest to offer them. Selling CDSes on him carries the same risk as a direct loan to him, but necessarily earns less in fees than the interest that could be made in a direct loan (and there's not a good notion of risk-free rate for doing other things with the coins you get by not lending). Note that this isn't always the case, especially when it's hard for people to lend to pirateat40, either because they don't have an account with him or because he doesn't have the capacity to accept their coins.
BurtW
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April 01, 2012, 03:59:29 AM
 #27

I think we need someone:

with a very high rep
a lot of personal financial backing
that believes in Pirate and would like to loan to Pirate
is not Pirate
does not have loans to Pirate and will not have loans to Pirate

to sell CDSes on the Pirate loans.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
imsaguy
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April 01, 2012, 04:54:20 AM
 #28

I think we need someone:

with a very high rep
a lot of personal financial backing
that believes in Pirate and would like to loan to Pirate
is not Pirate
does not have loans to Pirate and will not have loans to Pirate

to sell CDSes on the Pirate loans.

aka you?

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
BurtW
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April 01, 2012, 05:14:22 AM
 #29

I think we need someone:

with a very high rep
a lot of personal financial backing
that believes in Pirate and would like to loan to Pirate
is not Pirate
does not have loans to Pirate and will not have loans to Pirate

to sell CDSes on the Pirate loans.

aka you?
Nope since I am Pirate - just joking.
It is not me since I have loans to him.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
copumpkin
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April 02, 2012, 01:20:32 AM
 #30

Due to some outstanding open questions about aspects of the contract (preventing fraud, etc.), I'm putting the auction and sale of these CDS on hold until I can resolve them. It turns out that getting the details right in this setting is a lot more difficult than it might be in the "real world".

Sorry for getting people's hopes up! I'd like this to work, so I'll be thinking hard about how to resolve the problems and will post an update once I have more to say.
Andrew Vorobyov
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June 08, 2012, 10:03:34 PM
 #31

Next up, CDOs (and synthetic ones!). Let's see if we can replicate the mortgage crisis, guys Smiley

ROFL!

Anyway, sort things out and let speculation to begin... (Stacking my coins...)

PS. Can we have a little more info about you? it's just a nickname on forum now...

nimda
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0xFB0D8D1534241423


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June 09, 2012, 01:56:19 AM
 #32

Is this going to turn out like Goat's buying LONG's on his own bond?

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
imsaguy
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June 09, 2012, 02:36:16 AM
 #33

Is this going to turn out like Goat's buying LONG's on his own bond?

No.  I will refrain from purchasing as I don't need insurance against my defaulting Wink

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
imsaguy
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June 09, 2012, 02:37:00 AM
 #34

Next up, CDOs (and synthetic ones!). Let's see if we can replicate the mortgage crisis, guys Smiley

ROFL!

Anyway, sort things out and let speculation to begin... (Stacking my coins...)

PS. Can we have a little more info about you? it's just a nickname on forum now...


Woo, zombie thread!

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
https://bitcointalk.org/index.php?topic=60117.0

Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
Payment Address: http://btc.to/5r6
copumpkin
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June 09, 2012, 03:51:41 AM
 #35

Next up, CDOs (and synthetic ones!). Let's see if we can replicate the mortgage crisis, guys Smiley

ROFL!

Anyway, sort things out and let speculation to begin... (Stacking my coins...)

PS. Can we have a little more info about you? it's just a nickname on forum now...

Hah, I was just kidding, so my real-life reputation shouldn't be necessary Smiley I'm not secretive though, so if you're just curious I can elaborate (or you can google).
stochastic
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June 09, 2012, 04:46:34 AM
 #36

Is this going to turn out like Goat's buying LONG's on his own bond?

No.  I will refrain from purchasing as I don't need insurance against my defaulting Wink

He would have been purchasing insurance if he bought the .SHORT bonds.  The .LONG bonds are the people that are guaranteeing that the dividend will be paid.

Introducing constraints to the economy only serves to limit what can be economical.
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