[GLBSE] SHORTING ... paying 50% MORE DIVIDENT

[ciuciu]

Sukrim, we thank you for it. I would like to ask for your permission for future use in my dealings.

Thank you.

Hehe, nice to see my contract that I drafted at night in half an hour being used by someone else too!

[Sukrim]

Permission granted, I hereby put the wording of this aforementioned contract into the public domain. It would be nice mentioning me as author, but it's not necessary by any means.

[ciuciu]

I will try to give you credit every time I use it.

Thank you.

Permission granted, I hereby put the wording of this aforementioned contract into the public domain. It would be nice mentioning me as author, but it's not necessary by any means.

[area]

Are you still looking for Gigamining shares, ciuciu? I would be happy to loan you 30 with the same terms.

EDIT: Received PM, posting contract. (Thanks, Sukrim! I've corrected a couple of typos I spotted, though )

1 BTC up-front to 142zXkL4buC2G9QZbtYiZ5aTkN9y6B4GqH, then 30 GIGAMINING shares get transferred to a GLBSE account of your choice.

Double the amount of any dividend these GIGAMINING shares receive goes to 142zXkL4buC2G9QZbtYiZ5aTkN9y6B4GqH within 24 hours of that dividend being paid out by GIGAMINING.

At any point of time you are allowed to send back any amount of these 30 shares to my GLBSE account (area) and pay proportionally fewer dividends from that time on. If however GIGAMINING paid dividends, but you are within the 24h window, you still have to pay the doubled dividend, even if you transfer the shares back in that window (basically: double any dividend you could have gotten, regardless if you still own the shares or not).

I reserve the right to cancel this agreement and demand to have some or all 30 shares transferred back to my GLBSE account within 28 days (= not 28 business days, but 4 weeks) which are starting as soon as this demand is posted here in this thread by me. As long as the shares are not in my possession, you will still have to pay double dividends though.

All payments have to be made via transactions, not via GLBSE transfers, because then they can be verified using the block chain (http://blockchain.info/address/142zXkL4buC2G9QZbtYiZ5aTkN9y6B4GqH). Should some rules above be broken (which is easily verifiable for anyone using publicly available information) I reserve to take actions including, but not limited to, asking for freezing the GLBSE account where shares were sent and/or being reimbursed in shares and/or bitcoin from the receiver of the shares.

[ciuciu]

We have an agreement.

Thank you.

Are you still looking for Gigamining shares, ciuciu? I would be happy to loan you 30 with the same terms.

EDIT: Received PM, posting contract. (Thanks, Sukrim! I've corrected a couple of typos I spotted, though )

1 BTC up-front to 142zXkL4buC2G9QZbtYiZ5aTkN9y6B4GqH, then 30 GIGAMINING shares get transferred to a GLBSE account of your choice.

Double the amount of any dividend these GIGAMINING shares receive goes to 142zXkL4buC2G9QZbtYiZ5aTkN9y6B4GqH within 24 hours of that dividend being paid out by GIGAMINING.

At any point of time you are allowed to send back any amount of these 30 shares to my GLBSE account (area) and pay proportionally fewer dividends from that time on. If however GIGAMINING paid dividends, but you are within the 24h window, you still have to pay the doubled dividend, even if you transfer the shares back in that window (basically: double any dividend you could have gotten, regardless if you still own the shares or not).

I reserve the right to cancel this agreement and demand to have some or all 30 shares transferred back to my GLBSE account within 28 days (= not 28 business days, but 4 weeks) which are starting as soon as this demand is posted here in this thread by me. As long as the shares are not in my possession, you will still have to pay double dividends though.

All payments have to be made via transactions, not via GLBSE transfers, because then they can be verified using the block chain (http://blockchain.info/address/142zXkL4buC2G9QZbtYiZ5aTkN9y6B4GqH). Should some rules above be broken (which is easily verifiable for anyone using publicly available information) I reserve to take actions including, but not limited to, asking for freezing the GLBSE account where shares were sent and/or being reimbursed in shares and/or bitcoin from the receiver of the shares.

[ciuciu]

Bonds received. Thank you.

We have an agreement.

Thank you.

Are you still looking for Gigamining shares, ciuciu? I would be happy to loan you 30 with the same terms.

EDIT: Received PM, posting contract. (Thanks, Sukrim! I've corrected a couple of typos I spotted, though )

1 BTC up-front to 142zXkL4buC2G9QZbtYiZ5aTkN9y6B4GqH, then 30 GIGAMINING shares get transferred to a GLBSE account of your choice.

Double the amount of any dividend these GIGAMINING shares receive goes to 142zXkL4buC2G9QZbtYiZ5aTkN9y6B4GqH within 24 hours of that dividend being paid out by GIGAMINING.

At any point of time you are allowed to send back any amount of these 30 shares to my GLBSE account (area) and pay proportionally fewer dividends from that time on. If however GIGAMINING paid dividends, but you are within the 24h window, you still have to pay the doubled dividend, even if you transfer the shares back in that window (basically: double any dividend you could have gotten, regardless if you still own the shares or not).

I reserve the right to cancel this agreement and demand to have some or all 30 shares transferred back to my GLBSE account within 28 days (= not 28 business days, but 4 weeks) which are starting as soon as this demand is posted here in this thread by me. As long as the shares are not in my possession, you will still have to pay double dividends though.

All payments have to be made via transactions, not via GLBSE transfers, because then they can be verified using the block chain (http://blockchain.info/address/142zXkL4buC2G9QZbtYiZ5aTkN9y6B4GqH). Should some rules above be broken (which is easily verifiable for anyone using publicly available information) I reserve to take actions including, but not limited to, asking for freezing the GLBSE account where shares were sent and/or being reimbursed in shares and/or bitcoin from the receiver of the shares.

[sunnankar]

I am very surprised the contract does not have a more secure method, like using a trusted escrow party, for securing collateral.

For example, we see contracts for: 30 BITBOND with 1 BTC collateral, 100 GIGAMINING with 1 BTC collateral and 30 GIGAMINING with 1 BTC collateral. Based on 5 day trading volume for the underlyings that is about 184 BTC in the notional with 3 BTC collateral or 61.33x which means if the price rises by a mere 1.63%, about the coupon payment!, then the collateral is gone. There is a reason for the Regulation T initial margin requirement being about 50% and not 1.63%. Good luck for the lenders collecting on a margin call should the need arise.

[BurtW]

ciuciu,

1 BTC up-front to 16SqSuqvQzkHVnS1aRsDD4PSJCewBvs1dn,  then 100 YABMC shares get transferred to a GLBSE account of your choice.

Double the amount of any dividend these YABMC shares receive goes to 16SqSuqvQzkHVnS1aRsDD4PSJCewBvs1dn within 24 hours of that dividend being paid out by YABMC

At any point of time you are allowed to send back any amount of these 100 shares to my GLBSE account and pay proportionally fewer dividends from that time on. If however YABMC paid dividends, but you are within the 24h window, you still have to pay the doubled dividend, even if you transfer the shares back in that window (basically: double any dividend you could have gotten, regardless if you still own the shares or not).

I reserve the right to cancel this agreement and demand to have some or all 100 shares transferred back to my GLBSE account within 28 days (= not 28 business days, but 4 weeks) which are starting as soon as this demand is posted here in this thread by me. As long as the shares are not in my possession, you will still have to pay double dividends though.

All payments have to be made via transactions, not via GLBSE transfers, because then they can be verified using the block chain (http://blockchain.info/address/16SqSuqvQzkHVnS1aRsDD4PSJCewBvs1dn). Should some rules above be broken (which is easily verifiyble for anyone using publicly available information) I reserve to take actions including, but not limited to, asking for freezing the GLBSE account where shares were sent and/or being reimbursed in shares and/or bitcoin from the receiver of the shares.

[ciuciu]

We have an agreement.

ciuciu,

1 BTC up-front to 16SqSuqvQzkHVnS1aRsDD4PSJCewBvs1dn,  then 100 YABMC shares get transferred to a GLBSE account of your choice.

Double the amount of any dividend these YABMC shares receive goes to 16SqSuqvQzkHVnS1aRsDD4PSJCewBvs1dn within 24 hours of that dividend being paid out by YABMC

At any point of time you are allowed to send back any amount of these 100 shares to my GLBSE account and pay proportionally fewer dividends from that time on. If however YABMC paid dividends, but you are within the 24h window, you still have to pay the doubled dividend, even if you transfer the shares back in that window (basically: double any dividend you could have gotten, regardless if you still own the shares or not).

I reserve the right to cancel this agreement and demand to have some or all 100 shares transferred back to my GLBSE account within 28 days (= not 28 business days, but 4 weeks) which are starting as soon as this demand is posted here in this thread by me. As long as the shares are not in my possession, you will still have to pay double dividends though.

All payments have to be made via transactions, not via GLBSE transfers, because then they can be verified using the block chain (http://blockchain.info/address/16SqSuqvQzkHVnS1aRsDD4PSJCewBvs1dn). Should some rules above be broken (which is easily verifiyble for anyone using publicly available information) I reserve to take actions including, but not limited to, asking for freezing the GLBSE account where shares were sent and/or being reimbursed in shares and/or bitcoin from the receiver of the shares.

[Bitcoin Oz]

These dont have to move very much in price  to wipe out the collateral....

[ciuciu]

What collateral?
The 1 BTC is not a collateral. Everything is based on trust, the same goes for the mining operators.

These dont have to move very much in price  to wipe out the collateral....

[ciuciu]

Shares received.

Thank you.

ciuciu,

1 BTC up-front to 16SqSuqvQzkHVnS1aRsDD4PSJCewBvs1dn,  then 100 YABMC shares get transferred to a GLBSE account of your choice.

Double the amount of any dividend these YABMC shares receive goes to 16SqSuqvQzkHVnS1aRsDD4PSJCewBvs1dn within 24 hours of that dividend being paid out by YABMC

At any point of time you are allowed to send back any amount of these 100 shares to my GLBSE account and pay proportionally fewer dividends from that time on. If however YABMC paid dividends, but you are within the 24h window, you still have to pay the doubled dividend, even if you transfer the shares back in that window (basically: double any dividend you could have gotten, regardless if you still own the shares or not).

I reserve the right to cancel this agreement and demand to have some or all 100 shares transferred back to my GLBSE account within 28 days (= not 28 business days, but 4 weeks) which are starting as soon as this demand is posted here in this thread by me. As long as the shares are not in my possession, you will still have to pay double dividends though.

All payments have to be made via transactions, not via GLBSE transfers, because then they can be verified using the block chain (http://blockchain.info/address/16SqSuqvQzkHVnS1aRsDD4PSJCewBvs1dn). Should some rules above be broken (which is easily verifiyble for anyone using publicly available information) I reserve to take actions including, but not limited to, asking for freezing the GLBSE account where shares were sent and/or being reimbursed in shares and/or bitcoin from the receiver of the shares.

[sunnankar]

These dont have to move very much in price  to wipe out the collateral....

And Its Gone!

[Bitcoin Oz]

These dont have to move very much in price  to wipe out the collateral....

And Its Gone!

haha

[Sukrim]

These dont have to move very much in price  to wipe out the collateral....

That's not a collateral, at least for me, more something to cover fees, giving me 2-3 free 1MH/s mining shares and to make sure he's able to deposit to the address mentioned.

An honestly - if he really risks his GLBSE account, forum trust and a lot of trouble just for ~20 BTC (in my case, can't speak about the others) or even less (if the shorting is successful) plus a few coins in total for dividends... well, that's my risk after all.

I personally am not THAT "long" on mining bonds in the sense that I guess they will be sold for 1 BTC per 1MH/s soon, but I think they will not collapse as much as some predict will happen with an ASIC announcement around the corner. Double dividends for that time frame seems like a fair deal to me (and I also didn't give away all my mining shares or shares that I own...). I would probably have more money on the table if I were spending an evening in Las Vegas to put this into perspective.

[ciuciu]

Need more.

Thank you.

[VEscudero]

How about 300 Gigamining and 300 YABMC bonds?

[VEscudero]

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Hash: SHA256

Hi ciuciu,

these are my terms and conditions for a deal:

3 BTC up-front to 13WRBNRaQaK5XjMFSXQCzEPK5QGrib1WKQ, then 300 GIGAMINING bonds get transferred to a GLBSE account of your choice.
3 BTC up-front to 17A7A8zNbvzwG3eQwdVRQwTcCe3vqSbJcr, then 300 YABMC bonds get transferred to a GLBSE account of your choice.

Double the amount of any dividend these GIGAMINING bonds receive goes to 13WRBNRaQaK5XjMFSXQCzEPK5QGrib1WKQ within 24 hours of that dividend being paid out by GIGAMINING.
Double the amount of any dividend these YABMC bonds receive goes to 17A7A8zNbvzwG3eQwdVRQwTcCe3vqSbJcr within 24 hours of that dividend being paid out by YABMC.

At any point of time you are allowed to send back any amount of these 600 bonds to my GLBSE account and pay proportionally fewer dividends from that time on. If however GIGAMING or YABMC paid dividends, but you are within the 24h window, you still have to pay the doubled dividend, even if you transfer the bonds back in that window (basically: double any dividend you could have gotten, regardless if you still own the bonds or not).

I reserve the right to cancel this agreement and demand to have some or all 600 bonds transferred back to my GLBSE account within 28 days (= not 28 business days, but 4 weeks) which are starting as soon as this demand is posted here in this thread by me. As long as the shares are not in my possession, you will still have to pay double dividends though.

All payments have to be made via transactions, not via GLBSE transfers, because then they can be verified using the block chain. Should some rules above be broken (which is easily verifiyble for anyone using publicly available information) I reserve to take actions including, but not limited to, asking for freezing the GLBSE account where shares were sent and/or being reimbursed in shares and/or bitcoin from the receiver of the shares.
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[ciuciu]

We have an agreement.

Thank you.

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256

Hi ciuciu,

these are my terms and conditions for a deal:

3 BTC up-front to 13WRBNRaQaK5XjMFSXQCzEPK5QGrib1WKQ, then 300 GIGAMINING bonds get transferred to a GLBSE account of your choice.
3 BTC up-front to 17A7A8zNbvzwG3eQwdVRQwTcCe3vqSbJcr, then 300 YABMC bonds get transferred to a GLBSE account of your choice.

Double the amount of any dividend these GIGAMINING bonds receive goes to 13WRBNRaQaK5XjMFSXQCzEPK5QGrib1WKQ within 24 hours of that dividend being paid out by GIGAMINING.
Double the amount of any dividend these YABMC bonds receive goes to 17A7A8zNbvzwG3eQwdVRQwTcCe3vqSbJcr within 24 hours of that dividend being paid out by YABMC.

At any point of time you are allowed to send back any amount of these 600 bonds to my GLBSE account and pay proportionally fewer dividends from that time on. If however GIGAMING or YABMC paid dividends, but you are within the 24h window, you still have to pay the doubled dividend, even if you transfer the bonds back in that window (basically: double any dividend you could have gotten, regardless if you still own the bonds or not).

I reserve the right to cancel this agreement and demand to have some or all 600 bonds transferred back to my GLBSE account within 28 days (= not 28 business days, but 4 weeks) which are starting as soon as this demand is posted here in this thread by me. As long as the shares are not in my possession, you will still have to pay double dividends though.

All payments have to be made via transactions, not via GLBSE transfers, because then they can be verified using the block chain. Should some rules above be broken (which is easily verifiyble for anyone using publicly available information) I reserve to take actions including, but not limited to, asking for freezing the GLBSE account where shares were sent and/or being reimbursed in shares and/or bitcoin from the receiver of the shares.
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[MrTeal]

Is there any reason why a fixed rate perpetual mining bond would increase in value over time? Even without the reward halving, difficulty continues to trend up and the increasing proportion of FPGA miners mean it will be much less likely to swing back down with price drops.