.

[bitcoinbear]

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?

[ErebusBat]

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?

[ErebusBat]

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?

[bitcoinbear]

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

[PatrickHarnett]

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.

[Tomatocage]

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

OH DAMN, SON!!!

[bitcoinBull]

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?

[PatrickHarnett]

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]

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?

[Serge]

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

he wanted a new used car or something like that

[PatrickHarnett]

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.

[EskimoBob]

good idea.

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

[PatrickHarnett]

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.

[farfiman]

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?

[PatrickHarnett]

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]

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.

[rdponticelli]

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]

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

[btharper]

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]

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.