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bitcoinbear
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August 29, 2012, 08:38:40 PM |
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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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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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ErebusBat
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August 29, 2012, 09:55:45 PM |
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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 |
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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 |
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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  |
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PatrickHarnett
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August 29, 2012, 10:54:23 PM |
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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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Tomatocage
Legendary
 Offline
Activity: 1554
Merit: 1222
brb keeping up with the Kardashians
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August 29, 2012, 11:00:05 PM |
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Ok, I need to provide an unequivocal response - I will not be running a DankBank-PPT. OH DAMN, SON!!! |
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bitcoinBull
Legendary
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Activity: 826
Merit: 1001
rippleFanatic
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August 30, 2012, 04:31:41 AM |
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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? |
College of Bucking Bulls Knowledge
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PatrickHarnett
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August 30, 2012, 08:11:18 AM |
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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 |
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ianspain
Donator
Full Member
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Activity: 164
Merit: 100
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August 30, 2012, 08:31:44 AM |
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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?  |
BlockChain Capital
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Serge
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Activity: 1050
Merit: 1000
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August 30, 2012, 02:57:00 PM |
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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 |
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PatrickHarnett
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August 31, 2012, 01:26:37 AM |
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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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EskimoBob
Legendary
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Activity: 910
Merit: 1000
Quality Printing Services by Federal Reserve Bank
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August 31, 2012, 05:49:09 AM |
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good idea. Can someone explain this massive jump in the daily "Total Output Volume" http://blockchain.info/charts/output-volume |
While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
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PatrickHarnett
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August 31, 2012, 07:39:06 AM |
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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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farfiman
Legendary
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Activity: 1449
Merit: 1001
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August 31, 2012, 08:30:06 AM |
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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?
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"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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PatrickHarnett
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August 31, 2012, 08:51:42 AM |
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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. |
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farfiman
Legendary
Offline
Activity: 1449
Merit: 1001
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August 31, 2012, 11:51:47 AM |
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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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rdponticelli
Sr. Member
Offline
Activity: 325
Merit: 250
Our highest capital is the Confidence we build.
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August 31, 2012, 12:00:26 PM |
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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... |
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farfiman
Legendary
Offline
Activity: 1449
Merit: 1001
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August 31, 2012, 04:30:43 PM |
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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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btharper
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August 31, 2012, 05:09:15 PM |
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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 |
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ErebusBat
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August 31, 2012, 06:31:49 PM |
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I asked in the pirate address thread and was told it was irrelevant. |
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