El Cabron (OP)
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May 20, 2012, 05:02:10 AM
Last edit: October 18, 2012, 08:42:31 AM by Chaang Noi (Goat) ช้างน้อย |
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"In a nutshell, the network works like a distributed
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BinaryMage
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May 20, 2012, 05:21:21 AM |
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If the rates at BTCST change, the rates of this bond will change to reflect the rate change.
Proportionally or linearly? (As in, are you taking a percentage fee or a flat fee?) |
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theymos
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May 20, 2012, 05:33:44 AM |
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I'm going to buy 80 shares.  |
1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
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BinaryMage
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May 20, 2012, 06:18:39 AM |
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If the rates at BTCST change, the rates of this bond will change to reflect the rate change.
Proportionally or linearly? (As in, are you taking a percentage fee or a flat fee?) Umm.. I pay out .065 BTC each week on a bond that I sell for 1 BTC. I more or less keep the .005 BTC each week for managing all this/fees. Thanks. Seems I didn't get across clearly. If Pirate changes his rates, will the pass-through rate bond purchasers receive be affected linearly or proportionally in regard to the change in rates? For example, .065 is currently ~92.86% of Pirate's rate (.07). If Pirate cuts his rate in half, to .035, would bond payouts be .0325 (~92.86% of .035) or .03 (.07-.035)? Stated in other terms, do you take the .005 fee as a percentage of Pirate's rate, or as a flat amount? Hope that helps clarify my query. |
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Mushoz
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May 20, 2012, 10:26:20 AM |
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The contract on GLBSE mentions 5% dividends, while this thread mentions 6.5%. Which one is it? And thanks! Looks interesting to say the least |
www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
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bitdragon
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May 20, 2012, 10:44:52 AM |
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interesting |
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REF
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May 20, 2012, 01:36:24 PM |
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The contract on GLBSE mentions 5% dividends, while this thread mentions 6.5%. Which one is it? And thanks! Looks interesting to say the least I believe its from the old bond which became this. I was liking 5%/wk and 1/3 insured more but this should do find. It will be hard to beat these rates outside of investing directly with pirate |
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filharvey
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May 20, 2012, 01:53:38 PM |
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So you are going to update the contract to reflect the 6.5 interest rate?
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bitdragon
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May 20, 2012, 02:04:48 PM |
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are new bonds issued every week?
If these are 'permanent' bonds, how does one reinvest to reap the wonders of compound?
are you already back from your beer?
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kronosvl
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May 20, 2012, 02:13:51 PM |
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About insurance. You could make this optional. Use bonds like PPT does (forced callback) weekly or monthly.
Example for weekly: Since previous offer was 5% for 33% insurance this makes the insurance cost 1.5% weekly.You can sell these bonds at 0.015 and in case of default owner gets 0.33BTC(or 0.045 for 1BTC). When you pay dividends for TYGRR.P you recall these insurance bonds and put them for resale again and leave them for a period of time in case they are not immediately sold.
You will insure maximum of 33% of TYGRR.P value making this solution with the same risk for you as your initial offer.
Since this is basically an insurance against generic pirate's default as well as speculative usage, I'm sure these will sell well and you could do it auction style just like PPT.
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Sukrim
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May 20, 2012, 02:26:03 PM |
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Insurance is completely useless, if you want to have this 33% "insured", just put 33 Bitcents per BTC invested to a seperate savings account that you own to have the same effect.
Every week any number of bids at or above 1 BTC should be granted shares - then the money gets transferred to Mr. Ponziirate, lies there indefinitely and the 6.5% are then paid as dividend to shareholders. Should someone decide to get out of there, one could either trust liquidity + demand and sell the share for 1 BTC or try to convince goat to get e.g. a payout of 100 BTC from pirate and issue a buyback offer at 1 BTC per share.
To get compounded interest, buy at least 16 shares or multiples of that ( 1 / 0.065 ), then you should get at least 1 BTC per week and can buy a new share each time. Still not 100% perfect each week, but close enough... I'd recommend to diversify though personally.
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bitdragon
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May 20, 2012, 02:45:55 PM |
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Every week any number of bids at or above 1 BTC should be granted shares - then the money gets transferred to Mr. Ponziirate, lies there indefinitely and the 6.5% are then paid as dividend to shareholders. Should someone decide to get out of there, one could either trust liquidity + demand and sell the share for 1 BTC or try to convince goat to get e.g. a payout of 100 BTC from pirate and issue a buyback offer at 1 BTC per share.
To get compounded interest, buy at least 16 shares or multiples of that ( 1 / 0.065 ), then you should get at least 1 BTC per week and can buy a new share each time. Still not 100% perfect each week, but close enough... I'd recommend to diversify though personally.
Surely there is a limit to the number of shares issued ? or is the sky the limit? From what I recall, pirate did have limits relating to the deposits for a given time period back in the days. |
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MrTeal
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May 20, 2012, 03:08:34 PM |
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If you want insured bonds, you could but the PPT ones. I would expect that they will drop in price given the wealth of new options.
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Timbo925
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May 20, 2012, 09:34:08 PM |
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I like this one.
Just one question. If I want to get the money out how will I do this? Will you be buying back the shares or can we only sell to other buyers?
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Sukrim
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May 20, 2012, 10:20:36 PM |
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Goat could offer an askwall or trade shares by hand, though I guess an askwall would be easier to manage (but harder to predict how many really want to sell).
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molecular
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May 21, 2012, 07:33:59 PM |
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when will you be issuing the shares?
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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rdponticelli
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Our highest capital is the Confidence we build.
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May 21, 2012, 09:27:43 PM |
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How many will be sold?
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filharvey
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May 21, 2012, 10:11:44 PM |
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That is a good question, how many, and will you issue more later, or leave a fixed number?
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bitcoiners
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May 21, 2012, 11:16:36 PM |
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How many will be sold?
This. I'm not buying in right away if more are just going to be dumped on the market at anytime. |
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molecular
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May 22, 2012, 01:54:08 PM |
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great, shares have been "issued".
goat, in order to make better decisions regarding "secondary market" (dealing amongst ourselves), let me ask about your plan to issue more and if so, how you will determine the price?
Sorry if this has been answered already.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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