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Otoh
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May 13, 2012, 04:14:22 PM
 #301

But my last buy (where I was a market maker), my fee was 0.5%. I'm confused.  Huh

When you submitted your order, did it execute right away or did you have to wait some time?  If it filled right away, its because it matched against someone else's order, meaning you weren't the market maker.  If it took some time, it meant someone else had to match your order, which means you were the market maker.  Market makers don't pay fees (or at least aren't supposed to).

so everybody should list all their shares in each issue for sale at 1.28 before the 4 weeks are up which is when you put up the buy offer for them all, because otherwise we will incur the fee as taker of your market maker buy offer, is that correct?

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Nefario
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May 13, 2012, 04:23:39 PM
 #302

But my last buy (where I was a market maker), my fee was 0.5%. I'm confused.  Huh

When you submitted your order, did it execute right away or did you have to wait some time?  If it filled right away, its because it matched against someone else's order, meaning you weren't the market maker.  If it took some time, it meant someone else had to match your order, which means you were the market maker.  Market makers don't pay fees (or at least aren't supposed to).

so everybody should list all their shares in each issue for sale at 1.28 before the 4 weeks are up which is when you put up the buy offer for them all, because otherwise we will incur the fee as taker of your market maker buy offer, is that correct?

No, the asset issuer will be using buyback functionality which will allow them to buy back all outstanding bonds (whether they have been put up on the market or not) and the sellers will pay the 0.5% trade fee.

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May 13, 2012, 04:36:18 PM
 #303

No, the asset issuer will be using buyback functionality which will allow them to buy back all outstanding bonds (whether they have been put up on the market or not) and the sellers will pay the 0.5% trade fee.
why would the sellers(bond owner) get the 0.5% fee? Actually I was hoping for no fee on a forced by back especially to the seller especially if we put the bonds up for sale at 1.28? the seller would then be within the maker/taker rule.
Otoh
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May 13, 2012, 04:36:58 PM
 #304

But my last buy (where I was a market maker), my fee was 0.5%. I'm confused.  Huh

When you submitted your order, did it execute right away or did you have to wait some time?  If it filled right away, its because it matched against someone else's order, meaning you weren't the market maker.  If it took some time, it meant someone else had to match your order, which means you were the market maker.  Market makers don't pay fees (or at least aren't supposed to).

so everybody should list all their shares in each issue for sale at 1.28 before the 4 weeks are up which is when you put up the buy offer for them all, because otherwise we will incur the fee as taker of your market maker buy offer, is that correct?

No, the asset issuer will be using buyback functionality which will allow them to buy back all outstanding bonds (whether they have been put up on the market or not) and the sellers will pay the 0.5% trade fee.

I wasn't aware of this, so we get 1.28 less 0.5% fee = 1.2736 so the shares are never worth more than this in effect & don't actually return 1.28 net - maybe I missed something in the OP offer or the fee structure has changed since then, or I'm mistaken, but would like to know for sure, thanks

(edited for my maths typo)

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May 13, 2012, 04:39:10 PM
 #305

I wasn't aware of this, so we get 1.28 less 0.5% fee = 1.216 so the shares are never worth more than this in effect & don't actually return 1.28 net - maybe I missed something in the OP offer or the fee structure has changed since then, or I'm mistaken, but would like to know for sure, thanks
I think your numbers are a little off but I completely agree.
1.28 less 0.5% fee = 1.2736. I think you dropped a zero when doing the math by mistake.
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May 13, 2012, 04:40:31 PM
 #306

I wasn't aware of this, so we get 1.28 less 0.5% fee = 1.216 so the shares are never worth more than this in effect & don't actually return 1.28 net - maybe I missed something in the OP offer or the fee structure has changed since then, or I'm mistaken, but would like to know for sure, thanks
I think your numbers are a little wrong but I completely agree.
1.28 less 0.5% fee = 1.2736. I think you dropped a zero when doing the math by mistake.

yep, sry - you beat me to it

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Nefario
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May 13, 2012, 04:43:45 PM
 #307

Fee structure hasn't changed, this is a new feature (that has been heavily requested), and this is probably the first asset that will be making use of it, I've not gotten the communities input on the fee.

I actually need to talk about this with OP, so don't consider it (fee) set in stone, it's just what I've been using in my tests.

Sorry, my previous post wasn't meant to be an announcement on new fees, just in reply to how the bonds would be bought back (not via a market order).

The point to take from this is that you won't need to put your bonds up for sale or look out for an orderwall, it will just be taken care of, at the appropriate time you will find that your bonds have gone and been replaced by bitcoin.

Don't worry about fees, there will be no new ones on you're end.

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May 13, 2012, 11:43:31 PM
 #308

But my last buy (where I was a market maker), my fee was 0.5%. I'm confused.  Huh

When you submitted your order, did it execute right away or did you have to wait some time?  If it filled right away, its because it matched against someone else's order, meaning you weren't the market maker.  If it took some time, it meant someone else had to match your order, which means you were the market maker.  Market makers don't pay fees (or at least aren't supposed to).

I had to wait for a few days before the order was filled, so I was the market maker. So, perhaps the fees are always paid by the buyer, regardless of whether or not the are a market taker/maker? At least the previous message implies that the buyback at 1.28 will not incur a fee for bondholders. I supposed I'll see when my bonds are redeemed Friday.
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May 15, 2012, 05:11:27 PM
 #309

very un Europe friendly time, can't the US bid in the AM or earlier PM at weekends, I hope the BOD will reconsider, probably I shall stop buying & trading them now

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May 17, 2012, 10:18:12 AM
 #310

At least please indicate the Greenwich time.

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May 17, 2012, 02:11:00 PM
 #311

Will the auction fire off at the designated time, or is it still an arbitrary event?

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May 17, 2012, 03:14:16 PM
 #312

GLBSE has had a lot of performance enhancements over the last week and is able to handle the current load without issue(this includes the PPT auction).

us.glbse.com and glbse.com are the same now, having a browser open on each won't make any difference.

Further performance improvements are on the way.

Long story short I expect this auction to go smoothly without any issues or downtime.

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May 18, 2012, 11:27:01 PM
 #313

^^ thank you for clearing that for me, PPT-PR

is redemption going to be automatic or bonds need to be put up for sale manually?
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May 18, 2012, 11:52:11 PM
 #314

^^ thank you for clearing that for me, PPT-PR

is redemption going to be automatic or bonds need to be put up for sale manually?

Automatic

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May 19, 2012, 12:20:44 AM
 #315

Did everyone get their 1.28 BTC per PPT.A bond?  You should have it in your account!

Worked great!
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May 19, 2012, 12:43:06 AM
 #316



Seriously, I'm glad everything went according to plan, the buy back worked great and on time.

Thanks !

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What this planet needs is a good 0.0005 BTC US nickel.
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May 19, 2012, 01:08:00 AM
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I LOLed.

Will tutor physics or perform DFT calculations for Bitcoin (PM me!): 1jackkHHCLtxryJFAnPhrbvfcomtvXSzg
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May 19, 2012, 02:05:53 AM
 #318

Ahhhhh, why were there so few blocks in the past hour? Didn't get my BTC to the market fast enough to snatch up those 1.09 PPT.E's Cry

At least GLBSE performed flawlessly (for me) through the whole release this week Cheesy

EDIT: Oooh, spiffy cloudflare site offline page now. Much prettier than the old one.

EDIT2: Hello "nginx/0.7.67" my old friend...

Will tutor physics or perform DFT calculations for Bitcoin (PM me!): 1jackkHHCLtxryJFAnPhrbvfcomtvXSzg
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May 19, 2012, 02:40:31 AM
 #319


At least GLBSE performed flawlessly (for me) through the whole release this week Cheesy

EDIT: Oooh, spiffy cloudflare site offline page now. Much prettier than the old one.

EDIT2: Hello "nginx/0.7.67" my old friend...

Actually, we think we broke it again, and are working with Nefario right now to find out what went on.

We were running a redundant sell to make sure it all happened on time this week after last week's problem  (me in New Zealand and Burt in the USA).  We are going to honour all the sales that went through and we're not quite sure how many that is at the moment.
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May 19, 2012, 02:46:34 AM
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At least GLBSE performed flawlessly (for me) through the whole release this week Cheesy

EDIT: Oooh, spiffy cloudflare site offline page now. Much prettier than the old one.

EDIT2: Hello "nginx/0.7.67" my old friend...

Actually, we think we broke it again, and are working with Nefario right now to find out what went on.

We were running a redundant sell to make sure it all happened on time this week after last week's problem  (me in New Zealand and Burt in the USA).  We are going to honour all the sales that went through and we're not quite sure how many that is at the moment.

For anyone that's interested, I saw executions all the way down to around 1.085 (these don't all appear on the GLBSE twitter feed), then two asks of 300-400 shares around 1.18 go up, then some executions around 1.18 (twitter confirms these). Then GLBSE went down.

Will tutor physics or perform DFT calculations for Bitcoin (PM me!): 1jackkHHCLtxryJFAnPhrbvfcomtvXSzg
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