P

[drlatino999]

Thanks! I don't know why people aren't buying the shares that are being sold so they can get the first dividend and not miss out on it? It's more or less a perpetual investment that pays out 0.068 per Bond every Tuesday, and a buy back price of 1.00.  So there is a break even point where if bonds are selling below that price, it's better to buy now and get Tuesdays dividend instead of waiting for a new bond at 1.02. Above it, you're better off waiting to buy a new bond. I put that around 1.085, which includes GLBSE fees.

Using the same logic for sellers, it doesn't make sense to sell below 1.08 unless they think there is a chance of default before Tuesday.

Hush. You're not supposed to tell people that, I'm hoping to pick up a couple more before the bond auction.

We heard nothing. ~Tells everyone~

[1714295430]

1714295430

[Rygon]

Thanks! I don't know why people aren't buying the shares that are being sold so they can get the first dividend and not miss out on it? It's more or less a perpetual investment that pays out 0.068 per Bond every Tuesday, and a buy back price of 1.00.  So there is a break even point where if bonds are selling below that price, it's better to buy now and get Tuesdays dividend instead of waiting for a new bond at 1.02. Above it, you're better off waiting to buy a new bond. I put that around 1.085, which includes GLBSE fees.

Using the same logic for sellers, it doesn't make sense to sell below 1.08 unless they think there is a chance of default before Tuesday.

Hush. You're not supposed to tell people that, I'm hoping to pick up a couple more before the bond auction.

Yeah. I already bought mine before that last post. What are you waiting for? 

[MrTeal]

Thanks! I don't know why people aren't buying the shares that are being sold so they can get the first dividend and not miss out on it? It's more or less a perpetual investment that pays out 0.068 per Bond every Tuesday, and a buy back price of 1.00.  So there is a break even point where if bonds are selling below that price, it's better to buy now and get Tuesdays dividend instead of waiting for a new bond at 1.02. Above it, you're better off waiting to buy a new bond. I put that around 1.085, which includes GLBSE fees.

Using the same logic for sellers, it doesn't make sense to sell below 1.08 unless they think there is a chance of default before Tuesday.

Hush. You're not supposed to tell people that, I'm hoping to pick up a couple more before the bond auction.

Yeah. I already bought mine before that last post. What are you waiting for? 

I already picked up all I'm going to for this cycle. I might try and get some more next time around. I'm surprised there's not more people bidding on these in the 1.06-1.07 range.

[_mr_e]

As I'm new to the glbse, and worried about being scammed, can somebody please explain to me how this is not a ponzi scheme and why this bond has no verification information on the glbse? Where is the money to pay these dividends coming from? All I see is more and more bonds being offered for lower prices which I can only assume is being used to pay the dividends. My apologies if I'm completely wrong here, not trying to spread FUD so any information that can be provided would be much appreciated.

[Sukrim]

The coins get deposited here:
https://bitcointalk.org/index.php?topic=50822.0

Nobody really knows if it's a Ponzi, a Ponzi by proxy (pirateat40 depositing the money to a Ponzi scheme), something illegal, something legal, something shady, something that nearly anyone of us could do but we all didn't think of it or think that it could work...

The verification would be for goat, not for pirate - but his only work is getting the money and depositing it to pirateat40's "enterprise". Goat's not actively involved in working with the money at all.

I personally suspect something like a Ponzi or something close to it risk-wise, so I only invested a limited amount of money into it, mostly for the kicks and due to the fact that (if you compound it) after 3 months you have doubled your portfolio and can step out without any losses. The real question is how long pirateat40 can manage to pay these crazy interest rates and if he's smart enough to pull back out if it's getting too much for him. If he manages to go on like this for more than 3 months - good for the investors! If he doesn't - well you'd be better off shorting him then!

[molecular]

dividends have been paid, also sales have been filled at 1.02

i left some asks at 1.03 if anyone wants in. i will move that up in about 18 hours.

thanks

thanks for a reliable pass-through so far.

[_mr_e]

The coins get deposited here:
https://bitcointalk.org/index.php?topic=50822.0

Thanks for the link, this all makes a little more sense now. I did buy a few before the payment so that was nice to receive. This is all very intriguing. I may just buy a couple more;)

[bitdragon]

thank you for the dividends, they were well received !

[MrTeal]

dividends have been paid, also sales have been filled at 1.02

i left some asks at 1.03 if anyone wants in. i will move that up in about 18 hours.

thanks

How long will you leave that block at 1.04 up for, or is that not you?

[MrTeal]

dividends have been paid, also sales have been filled at 1.02

i left some asks at 1.03 if anyone wants in. i will move that up in about 18 hours.

thanks

How long will you leave that block at 1.04 up for, or is that not you?

Same question as above, are you still selling bonds throughout the week, like the current wall at 1.05999?

[macboy80]

Just want to say thanks for the opportunity and the dividends are sweet.

[drakahn]

Just want to say thanks for the opportunity and the dividends are sweet.

Mostly thank Pirate

Thats mostly whats i've been doing since i got my gpumax invite, these bonds (and hopefully my own bs&t account soon enough) are just icing on the cake.

[John (John K.)]

Is the dividends coming today? 

[Tomatocage]

Hmm

[drlatino999]

Hmm

Hmm's are never good, it's like screaming fire in a theater.

[Tomatocage]

Hmm

Hmm's are never good, it's like screaming fire in a theater.

Sorry, no need for alarm. I just thought something like this would be automated.

@chaang you don't issue new bonds until after the previous payout cycle has happened?

[MoneyIsDebt]

If pirate's business doesn't last beyond december, and miners turn unprofitable with the reward drop, will there be any worthwhile investments left on GLBSE?

[drlatino999]

Pirate just sent the funds, waiting for one confirm to send to GLBSE then the 6 for GLBSE. Then you will all get the dividends:)

Darn, and I almost finished making my tin foil hat.

[GeoRW]

If pirate's business doesn't last beyond december, and miners turn unprofitable with the reward drop, will there be any worthwhile investments left on GLBSE?

Miners will always be profitable (just depends which ones). Just share prices will go down.

[Tomatocage]

Is there a cap on number of shares h you sell today @ 1.02?