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Author Topic: Will GLBSE ever be lowering its prices?  (Read 4636 times)
John S.
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May 07, 2012, 02:55:36 AM
 #1

I wanted to create several futures for minor commodities and events but I can't justify it at $40 per contract.

Will there ever be a lower cost?
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Kluge
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May 07, 2012, 03:00:19 AM
 #2

$40 for the service is pretty dirt-cheap. Nef does a lot of work on the site (along with others involved) and's willing to spend a fair amount of time fixing any problems which come up.

Though.... if you're really interested in an answer, you could try posting it on http://predict.glbse.com/  Tongue

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May 07, 2012, 03:05:26 AM
 #3

I think that if 8BTC is too much for what you're doing (i.e. it will effect the bottom line of your operation), then I think you'd be better suited to doing it privately, you don't really have need for using GLBSE(i.e what you're doing is small enough to be funded by only a few people).

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John S.
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May 07, 2012, 03:05:55 AM
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$40 for the service is pretty dirt-cheap. Nef does a lot of work on the site (along with others involved) and's willing to spend a fair amount of time fixing any problems which come up.

Though.... if you're really interested in an answer, you could try posting it on http://predict.glbse.com/  Tongue

Imagine if the cost was a $1 and people created hundreds of contracts per week.

Would that not be more profitable?
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May 07, 2012, 03:08:51 AM
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$40 for the service is pretty dirt-cheap. Nef does a lot of work on the site (along with others involved) and's willing to spend a fair amount of time fixing any problems which come up.

Though.... if you're really interested in an answer, you could try posting it on http://predict.glbse.com/  Tongue

Imagine if the cost was a $1 and people created hundreds of contracts per week.

Would that not be more profitable?
That's pretty much how it was before it was taken over. [my bad -- see below] You'd have about a 50/50 chance of investing in a scam if you picked a security at random.

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May 07, 2012, 03:09:32 AM
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$40 for the service is pretty dirt-cheap. Nef does a lot of work on the site (along with others involved) and's willing to spend a fair amount of time fixing any problems which come up.

Though.... if you're really interested in an answer, you could try posting it on http://predict.glbse.com/  Tongue

Imagine if the cost was a $1 and people created hundreds of contracts per week.

Would that not be more profitable?

In the past when costs were lower there were a large number of scams, as the barrier to entry to being listed was too low. It didn't take very many BTC/share sales for a scam to be profitable to run.

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May 07, 2012, 03:10:15 AM
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$40 for the service is pretty dirt-cheap. Nef does a lot of work on the site (along with others involved) and's willing to spend a fair amount of time fixing any problems which come up.

Though.... if you're really interested in an answer, you could try posting it on http://predict.glbse.com/  Tongue

Imagine if the cost was a $1 and people created hundreds of contracts per week.

Would that not be more profitable?
That's pretty much how it was before it was taken over. You'd have about a 50/50 chance of investing in a scam if you picked a security at random.

GLBSE has never been taken over. It's the same group behind it today as at it's initial genesis.

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May 07, 2012, 03:13:25 AM
 #8

I see no problem with people losing their money when they didn't verify the security creator's credibility.

Anyways, thank you.
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May 07, 2012, 03:18:59 AM
 #9

That's pretty much how it was before it was taken over.

It's always been the same people running GLBSE, what has changed is the way we ran it (our original experiment failed and the first version of GLBSE became a wasteland).

A bitcoin stock market was something really new and untested when we started, and our dream was to have an anonymous funding ecosystem where people used keys to access their account. Sadly the result of all this was a scamfest and a huge number of people losing their keys.

PGP key id at pgp.mit.edu 0xA68F4B7C

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May 07, 2012, 03:38:29 AM
 #10

I must say, GLBSE seems much improved. I am developing some businesses and am likely to use GLBSE when I need extra capital to take them to the next level.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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May 07, 2012, 03:44:31 AM
 #11

I must say, GLBSE seems much improved. I am developing some businesses and am likely to use GLBSE when I need extra capital to take them to the next level.

I like the current incarnation of GLBSE and can see it developing into a great pillar for the BitCoin community. I think 8BTC may be a little too low. And it may even be good to add something like an escrowed amount to raise the barrier to creating assets so that a potential scam artist has more to lose and thus a lower ROI .... not that that has stopped Wall Street though.

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May 07, 2012, 09:38:40 AM
 #12

$40 for the service is pretty dirt-cheap. Nef does a lot of work on the site (along with others involved) and's willing to spend a fair amount of time fixing any problems which come up.

Though.... if you're really interested in an answer, you could try posting it on http://predict.glbse.com/  Tongue

Imagine if the cost was a $1 and people created hundreds of contracts per week.

Would that not be more profitable?
Hundreds of new contracts per week on https://glbse.com/assets? Just because 3 nerdy kids somewhere want to split their lunch money evenly?! Even though I don't want to pay the 8 BTC fee either, I perfectly understand why it's there and hope Nefario makes a good cut from it.

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ElectricBrain
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May 07, 2012, 01:29:56 PM
 #13

8BTC to IPO a company or security?

Nefario pretty much nailed it. If $40 is preventing you from going public, you're doing it wrong.

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May 07, 2012, 07:31:22 PM
 #14

Is the $40 something you have to pay every time you issue or buy-back shares? I was considering running a Silver ETF/ETN and may need to issue or buy-back shares in order to keep it close to the price of silver. A $40 fee every time could be a problem.

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Nefario
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May 07, 2012, 08:26:29 PM
 #15

Is the $40 something you have to pay every time you issue or buy-back shares? I was considering running a Silver ETF/ETN and may need to issue or buy-back shares in order to keep it close to the price of silver. A $40 fee every time could be a problem.

No it's only for listing a new asset.

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May 07, 2012, 08:41:04 PM
 #16

An IPO on a major market costs tens of millions of dollars.  An IPO on pinksheets is hundreds of thousands of dollars.

Simply put if $40 is a barrier then you likely shouldn't be using the tool.

It would be like saying $40 driver's license is a barrier to entry for automobiles.  If only driver's licenses were $10 we would sell so many more cars (implied that is the only thing holding a consumer back).
John (John K.)
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May 08, 2012, 04:44:38 AM
 #17

An IPO on a major market costs tens of millions of dollars.  An IPO on pinksheets is hundreds of thousands of dollars.

Simply put if $40 is a barrier then you likely shouldn't be using the tool.

It would be like saying $40 driver's license is a barrier to entry for automobiles.  If only driver's licenses were $10 we would sell so many more cars (implied that is the only thing holding a consumer back).

This.

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May 08, 2012, 08:47:59 AM
 #18

I think that 8 BTC for IPO is very low.
On the other hand I find 1% (50 BP + 50 BP) trading fee as very high.
Week or so ago it was still reasonable 0.5% (50 BP + 0 BP) and then it was promised to be 0.8% (40 BP + 40 BP) with GUI upgrade ...
I see that low liquidity is now even lower and making 1% on price changes now means that you only sposored GLBSE. :-(
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May 08, 2012, 11:09:48 AM
 #19

Am I blind or something?! Where do I find the current fees charged if I'm logged in on GLBSE?

It's not in "Terms", on "Transfer" there's only the fee for transfers and anywhere else I've looked I didn't find anything...

Edit: Ok, right after posting this, I found it...  Lips sealed
The only way to see the fees is if you already intend to buy something and go on an asset page. If you want to check the fees first you can be as lost as me.
Also - 0.4% fees were announced, 0.5% fees implemented. That's a 25% increase(!) - why try to kill the liquidity that anyways is the thing that generates income and is most needed on GLBSE atm in my opinion?

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Nefario
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May 08, 2012, 02:09:59 PM
 #20

Am I blind or something?! Where do I find the current fees charged if I'm logged in on GLBSE?

It's not in "Terms", on "Transfer" there's only the fee for transfers and anywhere else I've looked I didn't find anything...

Edit: Ok, right after posting this, I found it...  Lips sealed
The only way to see the fees is if you already intend to buy something and go on an asset page. If you want to check the fees first you can be as lost as me.
Also - 0.4% fees were announced, 0.5% fees implemented. That's a 25% increase(!) - why try to kill the liquidity that anyways is the thing that generates income and is most needed on GLBSE atm in my opinion?

No it's actually 0.5% fee, I've only implemented it and not announced but we've added maker taker.

Those who make orders that goes on the orderbook (i.e. are not taken up by another order) pay 0%, those who take orders (i.e. they make an order which takes up other orders) pay 0.5%

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
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