.

[coblee]

Yeah, actually if we can go back to the subject.
I don't think that this business will keep. Not at 1.04+
Despite of all the attacks I've had on me, I still believe that people are not that stupid

People are actually undervaluing the insurance. If you purchase bonds for 1.05, you are actually getting an effective interest rate better than investing directly with Pirate. I'm guessing you probably don't agree with the previous statement, but if you want to see the math behind it, read up on my posts around page 25 of this thread.

[1714024703]

1714024703

[1714024703]

1714024703

[1714024703]

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[1714024703]

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[piotr_n]

Yeah, actually if we can go back to the subject.
I don't think that this business will keep. Not at 1.04+
Despite of all the attacks I've had on me, I still believe that people are not that stupid

People are actually undervaluing the insurance. If you purchase bonds for 1.05, you are actually getting an effective interest rate better than investing directly with Pirate. I'm guessing you probably don't agree with the previous statement, but if you want to see the math behind it, read up on my posts around page 25 of this thread.

Either you invest your capital in BS&T - or you don't.
In a short term you can buy some pity 25% insurance, but considering BS&T as a long term investment, the whole insurance idea becomes just a bunch of crap.
After a few weeks you realize that investing in BS&T is all about risk management and paying for this "free insurance" is just not worth it.
Unless you are the pirate's alleged wife, in which case investing in BS&T is not about risk management

[PatrickHarnett]

Curious, where did the concept of "free" insurance come up?  I don't recall our (PPT) ever saying it was free, and the premium paid is pretty open.  Plus, all (let me say that again - ALL) of the premium is paid to the myriad holders of PPT.DIV and does not go to replace the backing fund.

PPT bonds are not a long term investment, they are cyclic running on a 28 day cycle, and also provide access for those with a few coins to invest rather than hundreds.  They have a degree of liquidity some of the other schemes do not posses, and they suit some people better than others.

So to repeat: In the event of a BS&T default, the payout is an agreed value of 0.32 BTC per bond payable from the fund established by the six founders.  The cost of this payout is paid for buy the buyers of the bonds.  The benefit of the premium goes to the holders of the PPT.DIV shares.

[piotr_n]

Curious, where did the concept of "free" insurance come up?

Thank you for your question.
The concept came from this post: https://bitcointalk.org/index.php?topic=76594.msg1010355#msg1010355
About 5 pages back in this topic.

[PatrickHarnett]

Curious, where did the concept of "free" insurance come up?

Thank you for your question.
The concept came from this post: https://bitcointalk.org/index.php?topic=76594.msg1010355#msg1010355
About 5 pages back in this topic.

Thanks - that's a bit odd.

[piotr_n]

Curious, where did the concept of "free" insurance come up?

Thank you for your question.
The concept came from this post: https://bitcointalk.org/index.php?topic=76594.msg1010355#msg1010355
About 5 pages back in this topic.

Thanks - that's a bit odd.

I agree.
It's very odd that we got to a point where we are thanking each other

[Otoh]

Curious, where did the concept of "free" insurance come up?

Thank you for your question.
The concept came from this post: https://bitcointalk.org/index.php?topic=76594.msg1010355#msg1010355
About 5 pages back in this topic.

Thanks - that's a bit odd.

I agree.
It's very odd that we got to a point where we are thanking each other

One Love? Sry about the free insurance imo post, so peace guys.

[PatrickHarnett]

One Love? Sry about the free insurance imo post, so peace guys.

Nah, but it was confusing.

[BitMinerN8]

One Love? Sry about the free insurance imo post, so peace guys.

Nah, but it was confusing.

And in a sick way, somewhat entertaining. 

[MrTeal]

Back when PPT bonds were selling down to 1.01 and FOO.PPT was selling for 1.05 immediately after the bond issue, it almost was free insurance even when you take into account compounding. You have to look at it from the investor's perspective; regardless of how the back end of the bonds work they are getting a partially insured bond. It doesn't matter whether the backers use their own money or defer some of their profits to cover it. If the return if the same as other passthroughs without insurance, it essential is free. Even now, you get a 23% monthly return which is in line with the 30% or so compounded return you can get with the uninsured bonds if they think Pirate has a decent chance of defaulting soon.

[MrTeal]

trade:3@1.2:PPT.B:1342147145

trade:3@1.2:PPT.B:1342147144

trade:19@1.189:PPT.B:1342147144

trade:25@1.165:PPT.B:1342147143

 

Did someone's bot break? 1.2 (1.206 with fee) is a 6.1% return for a little over a 3 week investment. There's 76 shares of PPT.A available for 1.15 and it matures a week sooner.

[smaynard]

Holy moly reading this thread is like watching Groundhog Day.

+1

[Michail1]

sub

[MrTeal]

One of the hassles with the GLBSE charts is that it doesn't show depth very well.  Possibly, more important given we're selling 3000 in total, it's useful to know where the cut-off is.

Popping this super useful tool up again so I don't need to go digging for it.

[EskimoBob]

What happened with D? Are you still selling it at 1.04?

[Sukrim]

[...]costing you a little bit more[...]

"A bit" means 1,04 * 0,005 = 0,0052 BTC or roughly half a Bitcent in this case.

[PatrickHarnett]

Announcement for information: Over the last couple of days I have purchased the PPT shares of the five other PPT founders.  Burt is facilitating the change over of the assets on GLBSE with a bit of manual intervention from Nefario.  Otherwise it's business as usual.

[Tomatocage]

Announcement for information: Over the last couple of days I have purchased the PPT shares of the five other PPT founders.  Burt is facilitating the change over of the assets on GLBSE with a bit of manual intervention from Nefario.  Otherwise it's business as usual.

Why are they getting out?

[PatrickHarnett]

Announcement for information: Over the last couple of days I have purchased the PPT shares of the five other PPT founders.  Burt is facilitating the change over of the assets on GLBSE with a bit of manual intervention from Nefario.  Otherwise it's business as usual.

Why are they getting out?

There were several discussions and I provided them an opportunity to exit.  Frees up their capital if nothing else.

[filharvey]

Any changes in the way it is run? PPT.DIV will still get their dividends based on profits?

Phil