Sukrim
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April 18, 2012, 04:45:24 PM |
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Still quite a bit less than 1/2 of shares would be sold now - 687 to be precise. People bid 699.2218BTC for them... Y U NO BID LOW OR COUNT AMOUNT OF BIDS BEFORE?!  |
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The00Dustin
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April 18, 2012, 04:50:05 PM |
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Y U NO BID LOW OR COUNT AMOUNT OF BIDS BEFORE?! Those numbers don't really mean anything yet. They could issue only 500 (2000 is max announcement should come in 33 hours and 10 minutes or something like that), and it is likely that most of the bidding will happen in the last hour of open bidding. If bids were private, it would be different, but as it stands, I doubt there will be any bonds selling at 1.0 when it is said and done. |
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Sukrim
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Merit: 1006
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April 18, 2012, 05:03:27 PM |
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If bids were private, it would be different, but as it stands, I doubt there will be any bonds selling at 1.0 when it is said and done.
Wanna bet on that?  |
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The00Dustin
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April 18, 2012, 05:08:46 PM |
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If bids were private, it would be different, but as it stands, I doubt there will be any bonds selling at 1.0 when it is said and done. Wanna bet on that? Sure, you can bid 1.0 on as many bonds as you wish, if you don't get any, you need to give them all to me because you lost. If you do get any, you can keep them because you won. |
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mcorlett
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Activity: 308
Merit: 250
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April 18, 2012, 05:10:57 PM |
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What happens if BS&T lowers the interest rate on deposits?
What happens if BS&T starts to return deposits?
Interested in the answers to these two questions. |
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Sukrim
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Activity: 2618
Merit: 1006
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April 18, 2012, 05:14:03 PM |
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If bids were private, it would be different, but as it stands, I doubt there will be any bonds selling at 1.0 when it is said and done. Wanna bet on that? Sure, you can bid 1.0 on as many bonds as you wish, if you don't get any, you need to give them all to me because you lost. If you do get any, you can keep them because you won. Well, then you place the same amount of orders above 1.0 BTC and we do the same game the other way round if you dare... I get your shares if they sell and you get my coins if they don't.  |
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The00Dustin
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April 18, 2012, 05:21:00 PM |
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Sure, you can bid 1.0 on as many bonds as you wish, if you don't get any, you need to give them all to me because you lost. If you do get any, you can keep them because you won. Well, then you place the same amount of orders above 1.0 BTC and we do the same game the other way round if you dare... I get your shares if they sell and you get my coins if they don't. Sadly, I haven't the coinage. However, my point (much like Burt's) was that you are automatically a winner if you bid 1.0 and you are right (except in case of a default, at which yount you would still be a loser even with my bonds [yourshares+myshares=2xyourshares; 2x0.32<1.0]). |
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stochastic
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April 18, 2012, 06:21:23 PM |
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Does anyone know the historic interest rates of BST?
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Introducing constraints to the economy only serves to limit what can be economical.
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Gomeler
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April 18, 2012, 06:27:17 PM |
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I imagine there are a number of us sitting by waiting to see the number of shares to be released. This is a great opportunity for those of us that don't have BS&T accounts.
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PatrickHarnett
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April 18, 2012, 06:55:36 PM |
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Does anyone know the historic interest rates of BST?
1%/day - for as long as I can remember (i.e. back to the thread creation date - December or late November) |
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stochastic
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April 18, 2012, 06:59:04 PM |
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Is the contract terms going to be changed from "contact BurtWagner on the forums"? TyGrr-Bank was getting some heat from GLBSE for having an empty contract that was determined on the forums. I just wanted to check that there is not some freeze of accounts after it is issued.
For the bond the bet has basically become, how many days from the issue date will BST reduce its interest rate? The par value of the bond is 1+0.01*n (unless it changes before issuance), where n is the number of days since the bond was issued. So you are speculating n while taking into account how much reward you want for taking that risk.
It will be interesting to see what investors feel is the risk premium on this. I am pretty risk adverse and expect a big reward on a risky asset like this.
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Introducing constraints to the economy only serves to limit what can be economical.
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The00Dustin
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April 18, 2012, 08:49:47 PM |
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I don't think I've seen it mentioned anywhere, so I'm going to point out that I believe most of the numbers on this thread are wrong in one way or another. For instance, bidding 1.28 would be a losing proposition because of the .5% fee encountered when selling the bond back. IOW, paying more than 1.2736 for a bond guarantees a loss after counting the current fee for selling. To the best of my knowledge, the fee for selling applies in all circumstances other than the bank defaulting, but I could be wrong on this altogther if Burt and company have worked with Nefario and the recall option will exist within 6 weeks without a fee.
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PatrickHarnett
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April 18, 2012, 09:37:39 PM |
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It was 3% per 3 days to be precise.
As an aside to the main thread, I'll disagree, because while payouts were each three days, the rate was 1% simple interest. For those compounding, that would effectively be 3% per three days. I beleive the text actually said "paying 1% per day". |
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The00Dustin
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April 18, 2012, 11:00:43 PM |
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Good point, I will email Nefario. I had not thought of the fees in the new "bond recall" function and since it is not written yet there is time to give him our input. On that note, will you actually sell bonds at 1.00 when it will net you .995? Also, if you announce more bonds than there end up being standing orders (at 1 or 1.005 as the case may be), what happens? |
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coblee
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Creator of Litecoin. Cryptocurrency enthusiast.
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April 18, 2012, 11:19:14 PM
Last edit: April 19, 2012, 12:33:27 AM by coblee |
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I don't think I've seen it mentioned anywhere, so I'm going to point out that I believe most of the numbers on this thread are wrong in one way or another. For instance, bidding 1.28 would be a losing proposition because of the .5% fee encountered when selling the bond back. IOW, paying more than 1.2736 for a bond guarantees a loss after counting the current fee for selling. To the best of my knowledge, the fee for selling applies in all circumstances other than the bank defaulting, but I could be wrong on this altogther if Burt and company have worked with Nefario and the recall option will exist within 6 weeks without a fee.
Good point, I will email Nefario. I had not thought of the fees in the new "bond recall" function and since it is not written yet there is time to give him our input. Bond recall should cost nothing. If it costs something, you can always just give a 1.28 btc dividend (no feeds on dividends) and recall all the bonds for 0 btc. Speaking of that, the bond recall time and amount should be in the contrat and enforced by GLBSE so that you can't just recall all your bonds at 0. I guess you guys will work that out with Nefario. |
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stochastic
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April 19, 2012, 04:32:41 AM |
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Good news. Keeps it simple.
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Introducing constraints to the economy only serves to limit what can be economical.
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HorseRider
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April 19, 2012, 08:45:19 AM |
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Sub.
It's an ABS like thing. interesting.
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16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
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xkrikl
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April 19, 2012, 09:56:40 AM |
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Great news!
So while you take a little bit more risk - it should drive the prices much higher
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rdponticelli
Sr. Member
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Activity: 325
Merit: 250
Our highest capital is the Confidence we build.
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April 19, 2012, 12:04:04 PM |
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Have you thought about offering PPT shares publicly?
Could be interesting. You may rise more capital to cover a greatest portion of the bond, effectively sharing the risk and the reward of the entity...
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Raoul Duke
aka psy
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Merit: 1002
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April 19, 2012, 04:11:12 PM |
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Have you thought about offering PPT shares publicly?
Could be interesting. You may rise more capital to cover a greatest portion of the bond, effectively sharing the risk and the reward of the entity...
I would go for 1 share of the main PPT if they were being offered. PPT.A or PPT.B don't interest me the slightest bit |
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