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Author Topic: YABMC Coupon Frequency - Now 2x per week  (Read 2085 times)
JWU42
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May 23, 2012, 02:35:26 PM
 #1

All,

It appears that YABMC pricing could be improved by increasing the frequency of the coupon to weekly (or perhaps even several times per week a la Meni's 336 blocks).

The GLBSE contract, to the best of my knowledge, cannot be altered as trading began weeks ago.

I cannot foresee any bondholders objecting but am still kindly asking for comments.  Feel free to PM me if you prefer not posting in the thread.

So, please note your approval to change the contract to coupon payments at something more frequent than the current "every 2016 blocks at diff change".

Again, the thought is weekly and perhaps even more frequent.

Thanks in advance for your time!

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Garr255
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May 23, 2012, 02:44:42 PM
 #2

Weekly seems to work well. It allows for higher paying and more frequent speculation which increases liquidity.

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dollartrader
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May 23, 2012, 02:58:11 PM
 #3

I'm all for weekly or 'more frequent' payment.
PsychoticBoy
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May 23, 2012, 03:12:23 PM
 #4

Weekly would be great  Cheesy


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Serge
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May 23, 2012, 03:27:19 PM
 #5

weekly sounds good
JWU42
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May 23, 2012, 04:07:14 PM
 #6

Thanks all -- expect the answers to be the same from others but will leave this open for comment until coupon time tomorrow (approx 1500 UTC).

Does the day of the week make any difference?  Tuesday mornings are ideal for me as I have a shorter commute that day (normally) and could send before heading to the office (between 1100-1300 UTC).

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memvola
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May 23, 2012, 05:02:19 PM
 #7

Weekly please. Also, the most convenient day for you would be the best choice, since delays seem to cause some distrust. Weekends would be good too I guess.
Sukrim
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May 23, 2012, 07:13:12 PM
 #8

I personally love the daily payments on the JAH bonds... So if it can somehow be automated (to not cause you too much trouble) daily payments would be perfect. You can get the necessary data out of the blockchain (timestamp of last block per difficulty) and I hope that it will be possible in the future to pay dividends via the API too.

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JWU42
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May 23, 2012, 07:47:30 PM
 #9

Sukrim,

It isn't too time consuming to pay once all shares our sold.  We are not there yet...

Appreciate the comments and trying to determine with Nefario how to make a change "officially"

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PatrickHarnett
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May 23, 2012, 09:18:00 PM
 #10

Daily does get a bit time consuming, and requires someone to kick it over every day (365), and sometimes that's too difficult to do.  Each three days would be about the minimum, and weekly is good.  Before joining the YAMBC asset I was keen on the weekly cycle, just because it seems about the right time interval given many of the other weekly activities that are going on.

In any event, even if the words in the contract on GLBSE can not be changed, the owners of the company (and it's bond holders) can agree unilaterally to change it (dividend frequency).
Sukrim
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May 23, 2012, 09:37:15 PM
 #11

Well, as I said: Everything to determine dividend payouts of mining bonds can be calculated by a program too and is out in the open, there's no human interaction needed at all. even if not all shares are sold all you need to do is to cancel the current sell order, calculate + pay the dividend and issue a new order. Except for the dividend payment part, all of the needed information and interactions are available via API from bitcoind and GLBSE.

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PatrickHarnett
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May 23, 2012, 09:56:32 PM
 #12

It was the payment part I was referring to - currently it's that piece that is the tie.
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May 23, 2012, 10:26:05 PM
 #13

Support a move to weekly, more frequently would be nice but the increase in admin overhead is a factor.
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May 24, 2012, 12:43:21 AM
 #14

Weekly sounds fine to me.

Sukrim
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May 24, 2012, 08:37:35 AM
 #15

It was the payment part I was referring to - currently it's that piece that is the tie.
I agree, maybe it can be changed to weekly (or more frequently, if convenient) for now and put in the contract that payments occur between every 24 hours as the lower limit and 7 days as the upper limit, so you won't have to change it again if daily payments become feasible. Also you might want to ask the owner of JAH how he does daily payments - manually or maybe he already has an automated solution ready?

Additionally it might be useful to already come up with a script or program to do all the calculations and just leave the dividend payment part undefined, so you're ready to go asap. Smiley IKt would be great to have this as Open Source, so others can improve and proifit as well.

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JWU42
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May 24, 2012, 10:00:01 AM
 #16

Sukrim,

It doesn't appear the contract shown on GLBSE can be changed.  Still discussing with Nefario...

I am concerned of the misinformation in having a contract (on GLBSE) stating a coupon frequency that is NOT correct.


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JWU42
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May 25, 2012, 04:52:14 PM
 #17

Final bump for comments - should confirm this today. 

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JWU42
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May 25, 2012, 11:11:13 PM
 #18

All,

I have discussed with Nefario and he will be adding functionality so we can notify all bondholders of the change in coupon payment frequency to 2x per week (Tuesday and Friday) with a time of 1200 UTC and then paying the coupon as soon as possible after (goal within 30 minutes).

I will update the coupon information in the YABMC thread as well.

I hope you all will find this an improvement and again appreciate your support of YABMC!


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JWU42
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May 26, 2012, 01:22:50 AM
 #19

Usagi - thanks for the comments!

YABMC is a team now - kudos goes to PatrickHarnett and hashking as well!  Smiley

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June 10, 2012, 07:10:50 PM
 #20

More frequent dividends means quicker turn around and compounded reinvestment. I'm liking the idea of sub week payments like Puremining. Cheesy

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