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Author Topic: [CLOSED] 007 Bonds - 1Mh/s  (Read 4517 times)
strello
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December 30, 2012, 10:12:02 PM
 #41

Still waiting for news.

Have you been in contact with GLBSE?

Do you intend to pay back any of the money you have taken from your investors?

It is futile to speak of liberty as long as economic slavery exists.

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strello
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January 05, 2013, 02:37:29 AM
 #42

Does your silence mean you want a scammer tag?

It is futile to speak of liberty as long as economic slavery exists.

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GeoRW
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January 05, 2013, 07:51:10 AM
 #43

Looks like scammer tag is appropriate here
strello
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January 05, 2013, 12:38:51 PM
 #44

Sent him the following PM.

"lomax

You issued nearly 800 shares in your mining venture, and therefore have a responsibility to pay back these investors.

I will be asking for a scammer tag for you unless you reply to this PM publicly on the forum within 5 days, giving details of how you intend to repay.

Scammer tag will be called for on the 11th January 2013."

It is futile to speak of liberty as long as economic slavery exists.

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lomax
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January 09, 2013, 09:49:49 AM
 #45

Received asset list December 20th, shockingly I have been holidaying and returned to the predictable day-job-shitstorm this week.

I would appreciate some feedback from yourselves as to the following.

1. Should an attempt be made to verify the list? Unsure what other issuers have done but I guess contacting those on the list via email requesting they verify their submitted btc address and number of bonds held is the logical option.

2. What your opinion is regarding a fair buyback price, accrued dividends notwithstanding.



strello
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January 09, 2013, 11:32:28 AM
 #46

Hi lomax!

I'm very happy to hear from you. I hope you had a good time over Christmas and the New Year.

Most asset issuers have done exactly as you suggest, sending a simple email to all known asset holders asking for confirmation of their email address, bitcoin address as given to GLBSE and number of shares held, if they know this.

Personally, I have no idea about how to figure out a fair buyback price. Maybe someone else could make a suggestion.




It is futile to speak of liberty as long as economic slavery exists.

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GeoRW
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January 09, 2013, 01:04:51 PM
 #47

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).
strello
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January 09, 2013, 01:40:36 PM
 #48

Good idea. Import to BTCT.co is a simple and efficient way to handle this.

Without the convenience of a platform to trade on I'll probably wind it up with a "buyback" type payment. Yet to receive anything from glbse.

If you want to keep it going, I'd be happy to assist with a transition to https://btct.co/

https://bitcointalk.org/index.php?topic=127215.0

As a bond holder, I'm happy with a buyback too.

Cheers.


It is futile to speak of liberty as long as economic slavery exists.

My GPG key
lomax
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January 09, 2013, 08:21:11 PM
 #49

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).

In all honesty re-listing sounds like a lot of work for miniscule return.

For perspective; I own around half of the 800 bonds, the next largest holding is one quarter and the majority of the rest are single digit amounts (several, like my itchy trigger fingered friend strello, hold one (1) single bond).

My feeling is that 1MH/s bonds are worth somewhere south of 0.05btc, based on the markets decline towards the end of GLBSE and diminishing returns from mining including the looming ASICpocalypse.

Seeking opinions and evidence of similar bonds trading on the new platforms.
burnside
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January 10, 2013, 08:10:28 AM
 #50

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).

In all honesty re-listing sounds like a lot of work for miniscule return.

For perspective; I own around half of the 800 bonds, the next largest holding is one quarter and the majority of the rest are single digit amounts (several, like my itchy trigger fingered friend strello, hold one (1) single bond).

My feeling is that 1MH/s bonds are worth somewhere south of 0.05btc, based on the markets decline towards the end of GLBSE and diminishing returns from mining including the looming ASICpocalypse.

Seeking opinions and evidence of similar bonds trading on the new platforms.

Depends on how many bondholders you had.  If you don't list somewhere, you have to process the last two months of dividends & buyback manually.  Not a big deal if there aren't many, but can be a PITA if you have a lot.


I'm not a Coinbase fan -- I placed a buy order, they took the funds out of my account, then a week later the price went up and they canceled the buy and closed my account.  You've been warned.  Use a different exchange.
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January 10, 2013, 09:52:15 AM
 #51

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).

In all honesty re-listing sounds like a lot of work for miniscule return.

For perspective; I own around half of the 800 bonds, the next largest holding is one quarter and the majority of the rest are single digit amounts (several, like my itchy trigger fingered friend strello, hold one (1) single bond).

My feeling is that 1MH/s bonds are worth somewhere south of 0.05btc, based on the markets decline towards the end of GLBSE and diminishing returns from mining including the looming ASICpocalypse.

Seeking opinions and evidence of similar bonds trading on the new platforms.

Depends on how many bondholders you had.  If you don't list somewhere, you have to process the last two months of dividends & buyback manually.  Not a big deal if there aren't many, but can be a PITA if you have a lot.
You don't need to do this manually for every bondholder. I have commented here with some notes about how to automate this.

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GeoRW
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January 10, 2013, 11:38:24 AM
 #52

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).

In all honesty re-listing sounds like a lot of work for miniscule return.

For perspective; I own around half of the 800 bonds, the next largest holding is one quarter and the majority of the rest are single digit amounts (several, like my itchy trigger fingered friend strello, hold one (1) single bond).

My feeling is that 1MH/s bonds are worth somewhere south of 0.05btc, based on the markets decline towards the end of GLBSE and diminishing returns from mining including the looming ASICpocalypse.

Seeking opinions and evidence of similar bonds trading on the new platforms.

If you don't want to re-list (it's quite easy, you just send the file Nefario sent you to an exchange and they have an import script for that), then follow last GLBSE trading data and execute buyback (without paying backward dividends). If you want to make a buyback at the current prices you'll need to pay the missing dividends first.
lomax
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January 14, 2013, 05:57:01 AM
 #53

Around half have responded to the confirmation email so far, the faster everyone verifies the sooner you get the BTC. For those that don't know how many you held try to give a ballpark.
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February 09, 2013, 06:56:07 AM
 #54

So, what's next steps. Will you pay at least outstanding dividends for now? You have all the info you need.
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February 12, 2013, 06:39:11 AM
 #55

Any progress here?

I'm not a Coinbase fan -- I placed a buy order, they took the funds out of my account, then a week later the price went up and they canceled the buy and closed my account.  You've been warned.  Use a different exchange.
strello
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February 18, 2013, 09:58:11 AM
 #56

lomax, it's now over a month since your last post.

Any update?


It is futile to speak of liberty as long as economic slavery exists.

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lomax
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March 04, 2013, 10:18:21 AM
 #57

Aloha,

At this point while the list is not fully verified it seems unlikely anyone else is coming forward. I'm going to send their coins anyway and if you dig this thread up after finding you never received btc because you didn't respond or give glbse an address you actually control then I'm sorry, you had plenty of time.

Looking at daily pps earnings since Oct 3rd I get to about 0.036 per 1mh/s. Unless someone shows a problem with this I'll make the a payment of 0.04 per share later this week. To be clear this is to cover the accrued mining income.

Given the apparent agreement of 0.05 per share I will follow up with another payment to cover that next week.

Bond out.




 
GeoRW
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March 04, 2013, 10:39:18 AM
 #58

Aloha,

Acknowledging its been a while, I could spin some elaborate drama filled story but really was waiting for a more favorable price to buy the coin to pay you guys back with, which turned out really well.

At this point while the list is not fully verified it seems unlikely anyone else is coming forward. I'm going to send their coins anyway and if you dig this thread up after finding you never received btc because you didn't respond or give glbse an address you actually control (wtf people?) then I'm sorry, you had plenty of time.

Looking at daily pps earnings in 14 day blocks for each difficulty since Oct 3rd I get to about 0.036 per 1mh/s. Unless someone shows a problem with this math I'll make the a payment of 0.04 per share (the simplified calculation already favors you in a number of ways, I'm rounding it up as a gesture of good will) later this week. To be clear this is to cover the accrued mining income (at least what it would be if the BFL FPGA still worked properly).

Given the apparent agreement of 0.05 per share 'buyback' I will follow up with another payment to cover that next week.


Cue Rejoicing/Lamentations

Bond out.




 

So the total payout per share will be 0.09 BTC? If so, that's OK with me.
burnside
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March 04, 2013, 08:58:42 PM
 #59

Aloha,

Acknowledging its been a while, I could spin some elaborate drama filled story but really was waiting for a more favorable price to buy the coin to pay you guys back with, which turned out really well.

At this point while the list is not fully verified it seems unlikely anyone else is coming forward. I'm going to send their coins anyway and if you dig this thread up after finding you never received btc because you didn't respond or give glbse an address you actually control (wtf people?) then I'm sorry, you had plenty of time.

Looking at daily pps earnings in 14 day blocks for each difficulty since Oct 3rd I get to about 0.036 per 1mh/s. Unless someone shows a problem with this math I'll make the a payment of 0.04 per share (the simplified calculation already favors you in a number of ways, I'm rounding it up as a gesture of good will) later this week. To be clear this is to cover the accrued mining income (at least what it would be if the BFL FPGA still worked properly).

Given the apparent agreement of 0.05 per share 'buyback' I will follow up with another payment to cover that next week.


Cue Rejoicing/Lamentations

Bond out.

So the total payout per share will be 0.09 BTC? If so, that's OK with me.

That's great news.  Thanks!

I'm not a Coinbase fan -- I placed a buy order, they took the funds out of my account, then a week later the price went up and they canceled the buy and closed my account.  You've been warned.  Use a different exchange.
lomax
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March 07, 2013, 10:06:54 AM
 #60

Sent payment of accrued earnings, if you do not receive them please let me know within a week.
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