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bitcoinbear
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August 29, 2012, 08:38:40 PM
 #681

Well, as people probably know, yesterday Pirate confirmed that he is in default in terms of repaying funds.  If that is simply a timing issue or a notice that there will be no repayments is not clear as no additional information was given and I'm still in the dark about what happens next from his side. 
Given the lack of information from Pirate, I'd say the obvious play here is to invest the insurance fund in Dank Bank, and then buy everyone a mansion next year.

Why hasn't anybody set up a Dank Bank Pass Through security on the GLBSE yet? Now that there is no Pirate, the 3% dank is offering seems pretty good !!! Maybe you could just reuse the PPTs as DBPTs?

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ErebusBat
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August 29, 2012, 09:55:45 PM
 #682

Well, as people probably know, yesterday Pirate confirmed that he is in default in terms of repaying funds.  If that is simply a timing issue or a notice that there will be no repayments is not clear as no additional information was given and I'm still in the dark about what happens next from his side. 
Given the lack of information from Pirate, I'd say the obvious play here is to invest the insurance fund in Dank Bank, and then buy everyone a mansion next year.

Why hasn't anybody set up a Dank Bank Pass Through security on the GLBSE yet? Now that there is no Pirate, the 3% dank is offering seems pretty good !!! Maybe you could just reuse the PPTs as DBPTs?
Would *you* invest in Dank?

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ErebusBat
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August 29, 2012, 10:19:30 PM
 #683

Tell you what, IF I get ALL of my BTC back from you know who then I will invest a little bit of it in Dank Bank.
So that is a no?

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bitcoinbear
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August 29, 2012, 10:20:35 PM
 #684

Well, as people probably know, yesterday Pirate confirmed that he is in default in terms of repaying funds.  If that is simply a timing issue or a notice that there will be no repayments is not clear as no additional information was given and I'm still in the dark about what happens next from his side. 
Given the lack of information from Pirate, I'd say the obvious play here is to invest the insurance fund in Dank Bank, and then buy everyone a mansion next year.

Why hasn't anybody set up a Dank Bank Pass Through security on the GLBSE yet? Now that there is no Pirate, the 3% dank is offering seems pretty good !!! Maybe you could just reuse the PPTs as DBPTs?
Would *you* invest in Dank?

Oops, forgot my sarcasm tags Smiley

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PatrickHarnett
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August 29, 2012, 10:54:23 PM
 #685

Well, as people probably know, yesterday Pirate confirmed that he is in default in terms of repaying funds.  If that is simply a timing issue or a notice that there will be no repayments is not clear as no additional information was given and I'm still in the dark about what happens next from his side. 
Given the lack of information from Pirate, I'd say the obvious play here is to invest the insurance fund in Dank Bank, and then buy everyone a mansion next year.

Why hasn't anybody set up a Dank Bank Pass Through security on the GLBSE yet? Now that there is no Pirate, the 3% dank is offering seems pretty good !!! Maybe you could just reuse the PPTs as DBPTs?

Ok, I need to provide an unequivocal response - I will not be running a DankBank-PPT.
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August 29, 2012, 11:00:05 PM
 #686

Ok, I need to provide an unequivocal response - I will not be running a DankBank-PPT.
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August 30, 2012, 04:31:41 AM
 #687

Why hasn't anybody set up a Dank Bank Pass Through security on the GLBSE yet? Now that there is no Pirate, the 3% dank is offering seems pretty good !!! Maybe you could just reuse the PPTs as DBPTs?

Ok, I need to provide an unequivocal response - I will not be running a DankBank-PPT.

May I ask, why not?

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PatrickHarnett
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August 30, 2012, 08:11:18 AM
 #688

Why hasn't anybody set up a Dank Bank Pass Through security on the GLBSE yet? Now that there is no Pirate, the 3% dank is offering seems pretty good !!! Maybe you could just reuse the PPTs as DBPTs?

Ok, I need to provide an unequivocal response - I will not be running a DankBank-PPT.

May I ask, why not?

Of course - amongst other reasons WifeofStarfish says "no" to directing funds to Dank.

While I find Dank and his ideals entertaining, and I can wish him well, I don't think people would like me using him as an investment vehicle for their hard earned coins.

P
ianspain
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August 30, 2012, 08:31:44 AM
 #689

Why hasn't anybody set up a Dank Bank Pass Through security on the GLBSE yet? Now that there is no Pirate, the 3% dank is offering seems pretty good !!! Maybe you could just reuse the PPTs as DBPTs?

Ok, I need to provide an unequivocal response - I will not be running a DankBank-PPT.

May I ask, why not?

Of course - amongst other reasons WifeofStarfish says "no" to directing funds to Dank.

While I find Dank and his ideals entertaining, and I can wish him well, I don't think people would like me using him as an investment vehicle for their hard earned coins.

P

lol, was dank was the guy looking for a multimillion dollar loan without giving ID?Huh

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August 30, 2012, 02:57:00 PM
 #690



lol, was dank was the guy looking for a multimillion dollar loan without giving ID?Huh

he wanted a new used car or something like that
PatrickHarnett
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August 31, 2012, 01:26:37 AM
 #691

There appears to be some movement in the BS&T drama today with (rumoured) some additional accounts being paid and the possibility of something happening in the next 24-48 hours.  If there is no objection, it might be useful to delay the PPT.E insurance buy-back by 24 hours.
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August 31, 2012, 05:49:09 AM
 #692

good idea.

Can someone explain this massive jump in the daily "Total Output Volume"
http://blockchain.info/charts/output-volume


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PatrickHarnett
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August 31, 2012, 07:39:06 AM
 #693

good idea.

Can someone explain this massive jump in the daily "Total Output Volume"
http://blockchain.info/charts/output-volume



Thank you for you comment.  I have the coins ready to pay for the insurance, but would hate to pull the trigger on that too early if for the sake of a couple of days I can return 1.28 rather than 0.32.

I've seen big jumps the past week, but it's been a single wallet slicing off a few bitcoins (eg 35000 less one) repeated hundreds of times.  Made for the 3.5M coin block.  I wondered if it was a wallet associated with something like santoshidice or similar.  There were three big addresses (35k, 17k and 9k) involved when I was looking at it, but every time it appeared to be only a few coins in each transaction.
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August 31, 2012, 08:30:06 AM
 #694

What will happen if the insurance is paid and P' eventually does pay out , lets say in 2 weeks?
Will there be any way to pay the difference?



"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
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August 31, 2012, 08:51:42 AM
 #695

What will happen if the insurance is paid and P' eventually does pay out , lets say in 2 weeks?
Will there be any way to pay the difference?




No.

I have had this question already and considered it.  There are many reasons why the answer is "no" and not many why it should or could be yes.  When I was pondering this issue again today I did think that you might be able to provide evidence from a GLBSE account that you were subject of the buy-back, but normally insurances don't pay out twice.  Also, if P does eventually pay out, it might not be at full 1.28 value so any payment would be discretionary.  Worth checking if/when it happens.
farfiman
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August 31, 2012, 11:51:47 AM
 #696

What will happen if the insurance is paid and P' eventually does pay out , lets say in 2 weeks?
Will there be any way to pay the difference?




No.

I have had this question already and considered it.  There are many reasons why the answer is "no" and not many why it should or could be yes.  When I was pondering this issue again today I did think that you might be able to provide evidence from a GLBSE account that you were subject of the buy-back, but normally insurances don't pay out twice.  Also, if P does eventually pay out, it might not be at full 1.28 value so any payment would be discretionary.  Worth checking if/when it happens.

If you do a buyback for 0.32 then ofc all the info is gone concerning who had what.
Possibly you could give 0.32 as a dividend and IF P' does eventually payout something - buyback the bonds accordingly.
Not doing it in is some way would give you a very nice profit at the expense of your clients and you arent that type of person.

I know it's a mess as far as the contracts and stuff but we are in an unusual situation.


"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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August 31, 2012, 12:00:26 PM
 #697

What will happen if the insurance is paid and P' eventually does pay out , lets say in 2 weeks?
Will there be any way to pay the difference?




No.

I have had this question already and considered it.  There are many reasons why the answer is "no" and not many why it should or could be yes.  When I was pondering this issue again today I did think that you might be able to provide evidence from a GLBSE account that you were subject of the buy-back, but normally insurances don't pay out twice.  Also, if P does eventually pay out, it might not be at full 1.28 value so any payment would be discretionary.  Worth checking if/when it happens.

If you do a buyback for 0.32 then ofc all the info is gone concerning who had what.
Possibly you could give 0.32 as a dividend and IF P' does eventually payout something - buyback the bonds accordingly.
Not doing it in is some way would give you a very nice profit at the expense of your clients and you arent that type of person.

I know it's a mess as far as the contracts and stuff but we are in an unusual situation.



Or you can put bid walls @0.32, so those who want the liquid btc of the insurance now can sell, knowingly losing the rest if pirate finally pays out. And those who prefer waiting can keep their bonds, hoping for the buy back. That's how usagi is handling YARR...
farfiman
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August 31, 2012, 04:30:43 PM
 #698

What will happen if the insurance is paid and P' eventually does pay out , lets say in 2 weeks?
Will there be any way to pay the difference?




No.

I have had this question already and considered it.  There are many reasons why the answer is "no" and not many why it should or could be yes.  When I was pondering this issue again today I did think that you might be able to provide evidence from a GLBSE account that you were subject of the buy-back, but normally insurances don't pay out twice.  Also, if P does eventually pay out, it might not be at full 1.28 value so any payment would be discretionary.  Worth checking if/when it happens.

If you do a buyback for 0.32 then ofc all the info is gone concerning who had what.
Possibly you could give 0.32 as a dividend and IF P' does eventually payout something - buyback the bonds accordingly.
Not doing it in is some way would give you a very nice profit at the expense of your clients and you arent that type of person.

I know it's a mess as far as the contracts and stuff but we are in an unusual situation.



Or you can put bid walls @0.32, so those who want the liquid btc of the insurance now can sell, knowingly losing the rest if pirate finally pays out. And those who prefer waiting can keep their bonds, hoping for the buy back. That's how usagi is handling YARR...

Sounds good

"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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August 31, 2012, 05:09:15 PM
 #699

What will happen if the insurance is paid and P' eventually does pay out , lets say in 2 weeks?
Will there be any way to pay the difference?


No.

I have had this question already and considered it.  There are many reasons why the answer is "no" and not many why it should or could be yes.  When I was pondering this issue again today I did think that you might be able to provide evidence from a GLBSE account that you were subject of the buy-back, but normally insurances don't pay out twice.  Also, if P does eventually pay out, it might not be at full 1.28 value so any payment would be discretionary.  Worth checking if/when it happens.

This is why I (and I'm sure others) trust you, you worry about doing right by your investors and don't want to screw anyone. Here's hoping you find a good solution though
ErebusBat
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August 31, 2012, 06:31:49 PM
 #700

good idea.

Can someone explain this massive jump in the daily "Total Output Volume"
http://blockchain.info/charts/output-volume


I asked in the pirate address thread and was told it was irrelevant.

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