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Author Topic: meaning of coupon in glbse  (Read 592 times)
ghostcheck
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July 19, 2012, 03:53:55 PM
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hi,
in many securities, dividends are paid as coupons. What does that mean? MtGox coupons?
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DeathAndTaxes
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July 19, 2012, 04:08:50 PM
 #2

Coupon is a financial term, not a Bitcoin specific one.

A coupon is a periodic interest payment.  In this case it would be paid in BTC as GBLSE has no mechanism to payout coupons in anything but BTC.
http://en.wikipedia.org/wiki/Bond_(finance)#Coupon

You can also have zero coupon bonds.  For example a bond could have a face value of 1 BTC but is sold by the issuer at 0.7 BTC.  In 3 months the bond will mature and bold holders will be paid 1 BTC per bond.  During the 3 months the bond would issue no coupons (no interest payments).  The yield would come from the difference in issue price and maturity price.

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Gerald Davis


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July 19, 2012, 04:10:14 PM
 #3

So you likely now are thinking where the hell did the word "coupon" come from.  Way back in the dark ages before the intertubes bonds actually had a physical coupon.

Notice the coupons at the bottom.  They indicate the interest payments due.  Depending on the bond coupons were either removed or stamped to indicate the were paid.

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July 19, 2012, 11:33:59 PM
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That is absolutely fascinating. Thanks for sharing and posting the beautiful pic.

Do you know the purpose of the physical coupons? Presumably, in order to collect payment, you had to physically present the actual bond certificate, and could only collect payment if the appropriate coupon was there (not yet removed) or was not there (i.e. not yet stamped)?
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July 19, 2012, 11:41:00 PM
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I posted a idea in another thread about wanting someone to create a physical share certificate for glbse. Even better if it had an actual deposit address for your dividends  Cheesy

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July 19, 2012, 11:44:50 PM
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Do you know the purpose of the physical coupons? Presumably, in order to collect payment, you had to physically present the actual bond certificate, and could only collect payment if the appropriate coupon was there (not yet removed) or was not there (i.e. not yet stamped)?

Yeah that was the purpose.  Remember we are talking before computers, before electronic communication, before national ID cards.  The bank may maintain its own records but those could be lost/destroyed.  The physical coupon provided a payment record on the bond itself.  As long as the bond wasn't lost you could get paid.
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July 19, 2012, 11:59:50 PM
 #7

I think the equivalent would be a csv of your asset info so if glbse goes down share issuers have a backup. Just need to host the csv file somewhere with the file location listed on the coupon  Smiley

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July 20, 2012, 12:55:20 AM
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I think the equivalent would be a csv of your asset info so if glbse goes down share issuers have a backup. Just need to host the csv file somewhere with the file location listed on the coupon  Smiley

Better, a file that states a user's PGP public key as registered with GLBSE, listing all your assets, and then clearlsigned with an official GLBSE public key.

This would allow any asset holder to prove they hold a certain number of shares. (The file would need to include a date, too.)

I highly doubt this is a new idea.
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