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Author Topic: [GLBSE] POLY - Persistent BTC/USD margin trading emulation  (Read 5539 times)
bitdragon
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June 15, 2012, 08:36:38 PM
 #21

It seems the bot is only selling for now and the quantity so far was limited and reached.

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molecular
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June 16, 2012, 01:28:00 PM
 #22

It seems the bot is only selling for now and the quantity so far was limited and reached.

too bad ;|

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June 16, 2012, 05:54:06 PM
 #23

POLY.10.1 is now offered at 107% of face value. There's a bot that updates prices every 2 minutes.
that was fast!
The bot is fairly simple for now (mostly just upholding my contractual duty to buy bonds at face value), didn't take long to develop, just had to wait for me to come back home from miluim.

So the bot should be buying/selling? I see no asks.
Yes. That's because they're all sold out Smiley. If someone sells to it it will put (some of) them back up for sale.

It seems the bot is only selling for now and the quantity so far was limited and reached.
It's buying too, but to do that somebody has to sell Wink.

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June 16, 2012, 09:59:01 PM
 #24

POLY.10.1 is now offered at 107% of face value. There's a bot that updates prices every 2 minutes.
that was fast!
The bot is fairly simple for now (mostly just upholding my contractual duty to buy bonds at face value), didn't take long to develop, just had to wait for me to come back home from miluim.

So the bot should be buying/selling? I see no asks.
Yes. That's because they're all sold out Smiley. If someone sells to it it will put (some of) them back up for sale.

damn those greedy bastards Wink

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June 19, 2012, 05:30:05 PM
 #25

I have issued a few more POLY.10.1 bonds. The bot will now put bonds up to sale (at 107% face value) as long as the total outstanding bonds have face value less than 200 BTC. This is subject to change.

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July 12, 2012, 05:35:30 PM
 #26

I have issued some more POLY.10.1 bonds and am now also offering bonds for shorting BTC, POLY.10.-2. Each of these bonds are targeted to have a total of 400 BTC outstanding face value.

UPDATE 27 Jul 2012: My GLBSE bot is acting funny, I think it may have something to do with their server migration. I'll look at it more closely next week, for now I've disabled the orders. While there are no automated bids, contact me if you want to exercise your right to sell the bonds.

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August 02, 2012, 12:25:16 PM
 #27

Bot is back up. Due to the higher demand for the long bonds, POLY.10.1 is sold at 110% face value and bought at 106%, while POLY.10.-2 is sold at 104% face value and bought at 100%.

Update Aug 5 2012: Since there's not much trading activity anyway, to minimize overhead I've deactivated the bot. If you wish to buy or sell at the above prices contact me and I'll activate it.

Update Aug 22 2012: Bot is up buying POLY.10.1 at 106%. Live reserve is limited so PM me if you want to make a large sell. Other actions are not supported.

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August 21, 2012, 10:50:10 AM
 #28

Great asset.

Would buy again.

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September 09, 2012, 04:48:20 PM
 #29

All POLY bonds have been recalled*. The Mtgox last price at the time was 10.92630 BTC; 428 POLY.10.1 bonds were bought back for 1.2*(10.92630/10) = 1.311156 BTC each for a total of 561.174768 BTC, and there were no outstanding POLY.10.-2 bonds. POLY is discontinued until further notice.

I still believe POLY is a viable model for a much-needed instrument and this was not an easy decision. Some of the contributing factors were:
1. Making POLY successful would require more work than I am currently able to allocate to it. This is exacerbated by the fact that GLBSE is lacking some of the features that could have made it easier.
2. The demand was mostly for the long bonds, which shorten my position; I had a need for this when I started, but I currently do not.
3. Due to various recent events I want to minimize my liabilities.

Thanks to investors and other supporters.


* (except for one account with 28 bonds which had a problem and Nefario says he's working on it.)

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molecular
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September 09, 2012, 07:25:21 PM
 #30

All POLY bonds have been recalled*. The Mtgox last price at the time was 10.92630 BTC; 428 POLY.10.1 bonds were bought back for 1.2*(10.92630/10) = 1.311156 BTC each for a total of 561.174768 BTC, and there were no outstanding POLY.10.-2 bonds. POLY is discontinued until further notice.

I still believe POLY is a viable model for a much-needed instrument and this was not an easy decision. Some of the contributing factors were:
1. Making POLY successful would require more work than I am currently able to allocate to it. This is exacerbated by the fact that GLBSE is lacking some of the features that could have made it easier.
2. The demand was mostly for the long bonds, which shorten my position; I had a need for this when I started, but I currently do not.
3. Due to various recent events I want to minimize my liabilities.

Thanks to investors and other supporters.


* (except for one account with 28 bonds which had a problem and Nefario says he's working on it.)

allright, sad to hear but understandable.

I really liked the model and would've loved to see the higher-order bonds ("go longlonglong!") at some point.

be sure to revive this thread when you revive the idea and thanks for your work on this.

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MPOE-PR
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September 16, 2012, 02:18:54 AM
 #31

RIP

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