What about the case of GIGAMINING paying a coupon, but it's not high enough/not according to their published payout formula? It should read "weekly, on time and in the correct amount" imho.
From my understanding of GIGAMINING, each bond pays a coupon payment of 100% PPS of 5 Mh/s.
Maybe in the future I will release some insurance bonds as you suggest, but right now these ones are more for failure.
Making sure I understand this correctly. The holders of the SHORT bond only get paid if gigamining closes it's doors?
How would they fail outright? If it ever got close to failing they'd just issue more bonds, pay the dividend with a portion of the proceeds, and order more hardware with the other portion.
I guess then that you're betting on the chances of the operator getting hit by a bus and/or disappearing to pirate island?