[BTC-TC] YABMC

[zapeta]

How did I miss this...wish I would have gotten in on the IPO, but glad to be on board now.

[JWU42]

Thanks for jumping on - glad to have you!

[JWU42]

Updated the estimate on diff change - looking like early morning (UTC time) on Friday.  Should have coupon sent 1-2 hours after at most if all remains as estimated.

[JWU42]

One final update - 207 blocks to go so at 6 per hour looks like 34 hours +/- .

This will hit middle of the night US time (around 0700 UTC).  I will strive to have coupons sent no later than 1100 UTC (assuming we have changed diff by then).

[JWU42]

Initial Coupon of .00865824 sent.  A 2.89% return if you purchased at the IPO price of 0.30.  Details on 2nd post.  I will have a google doc on the yabmc.info site soon.

Thanks to all the bondholders!

[kakobrekla]

Yay, thanks! 

[PatrickHarnett]

Dividend and cherry bonus received.    Thanks.

[Sukrim]

Me too, happy pre-investor is happy!

Perfect handling down to the Satoshi, clear formulas on how much is paid out... that's how it should be done!

[JWU42]

Thanks guys - I am trying 

Again - will have a google SS up later tonight for tracking but thought the formula (thanks for the original idea Sukrim) would be sufficient for now.

[JWU42]

Mini-rig order was confirmed last Friday...

Not sure how (if) this will get incorporated into YABMC (i.e., more shares offered or perhaps a separate offering).

Appreciate comments on additional shares?  BITBOND and PUREMINING have both grown 2-3x their IPO volume...

Next dividend payment appears to be on track for next Wednesday afternoon UTC time.  Real life may get in the way and slightly delay (4-6 hours) coupon payment.  More to follow as we get closer to the diff change.

As always, appreciate the support!

[BinaryMage]

Mini-rig order was confirmed last Friday...

Not sure how (if) this will get incorporated into YABMC (i.e., more shares offered or perhaps a separate offering).

Appreciate comments on additional shares?  BITBOND and PUREMINING have both grown 2-3x their IPO volume...

Next dividend payment appears to be on track for next Wednesday afternoon UTC time.  Real life my get in the way and slightly delay (4-6 hours) coupon payment.  More to follow as we get closer to the diff change.

As always, appreciate the support!

Potentially interested, depending on release price. I think YABMC certainly has room to grow.

[JWU42]

Thanks for the comment BinaryMage!

I am looking more into a zero-coupon bond (bill) with a 6-9 month duration to fund the 2nd mini-rig.  Still running the numbers but think this could be Phase II.

 

[BinaryMage]

Thanks for the comment BinaryMage!

I am looking more into a zero-coupon bond (bill) with a 6-9 month duration to fund the 2nd mini-rig.  Still running the numbers but think this could be Phase II.

 

As in a bond that would only pay for 6-9 months? Can you clarify?

[Sukrim]

I guess something similar to the PPT.X bonds? Pay 1 BTC now and get 1.4 BTC in half a year or something like that...

[JWU42]

BinaryMage,

A short-term zero coupon bond (often called a bill) does not have coupons (often referred to in BTC world as divedends).  It is issued at something less than face value and redeemed at par (face) value at maturity.

The PPT bonds are an example of a zero coupon bond.  Where there are no coupons paid and the bond is redeemed at a price greater than it is issued.

http://en.wikipedia.org/wiki/Zero-coupon_bond

[BinaryMage]

BinaryMage,

A short-term zero coupon bond (often called a bill) does not have coupons (often referred to in BTC world as divedends).  It is issued at something less than face value and redeemed at par (face) value at maturity.

The PPT bonds are an example of a zero coupon bond.  Where there are no coupons paid and the bond is redeemed at a price greater than it is issued.

http://en.wikipedia.org/wiki/Zero-coupon_bond

Alright, thanks for clarifying. I'm not too experienced with financial security lingo. What price would you be planning on issuing at, and what would the bond be redeemable for?

[JWU42]

I guess something similar to the PPT.X bonds? Pay 1 BTC now and get 1.4 BTC in half a year or something like that...

Exactly Sukrim...

The 100% PPS bonds are a bet on difficulty.  This is a cleaner debt offering -- not much different than a loan but it offers the lender (bondholder) greater liquidity.

[JWU42]

BinaryMage,

A short-term zero coupon bond (often called a bill) does not have coupons (often referred to in BTC world as divedends).  It is issued at something less than face value and redeemed at par (face) value at maturity.

The PPT bonds are an example of a zero coupon bond.  Where there are no coupons paid and the bond is redeemed at a price greater than it is issued.

http://en.wikipedia.org/wiki/Zero-coupon_bond

Alright, thanks for clarifying. I'm not too experienced with financial security lingo. What price would you be planning on issuing at, and what would the bond be redeemable for?

Hey - we all have to learn things  

Pricing is uncertain right now.  As mentioned, I am running the numbers but it would be in the range of 5.0-5.5 per cent compounded monthly.

So using 5% monthly compounding as an example for a 6 month duration...

Offer Price: 0.75
Face Value: 1.00507173

[Sukrim]

Either have a "clean" 0.75 initial offer and pay out a few days earlier to have a final value of 1.00000000 or start at 0.74something please. It would be great if bonds would all mature at the same value (1 BTC) to be easier to compare.

[JWU42]

Either have a "clean" 0.75 initial offer and pay out a few days earlier to have a final value of 1.00000000 or start at 0.74something please. It would be great if bonds would all mature at the same value (1 BTC) to be easier to compare.

Or we would use the PPT method of 1.00 issue and 1.35 (as an example) face value?

But yes - I would plan to tweak this so face value was an "cleaner" number.  The previous was for illustration purposes only...