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Author Topic: [BTC-TC] BTC-BOND - 0.03% Daily  (Read 18926 times)
Namworld
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February 09, 2013, 11:14:30 PM
 #21

Well another coming up today and for the next 4 days.

1 BTC per day on top of usual coupon.

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February 10, 2013, 01:15:21 AM
 #22

Well another coming up today and for the next 4 days.

1 BTC per day on top of usual coupon.
Awesome Grin
gabbynot
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March 05, 2013, 12:13:29 AM
 #23

I'm curious - how long are you expected to keep this bond going...a few months? Years?

Were/are the proceeds converted to fiat or are they staying in BTC-denominated assets?

Thanks!
Namworld
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March 05, 2013, 12:49:47 AM
 #24

Mostly staying in BTC denominated assets.

There's no time period for the bond. I sell more or buyback as needed. Every holder can also request to redeem on request.

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superbit
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April 19, 2013, 06:40:28 PM
 #25

I would like to redeem?  How do I go about this?

https://bitfinex.com/?refcode=UInJLQ5KpA <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with the refcode
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Namworld
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April 19, 2013, 07:52:56 PM
 #26

I would like to redeem?  How do I go about this?

PMing you

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ar9
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April 23, 2013, 03:47:17 AM
 #27

You guys should waive the transaction fees on these bonds, considering they inherently support your site any way.
No chance of this, huh?
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April 23, 2013, 06:24:09 AM
 #28

I cannot waive the fees. It is not my website.

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Peter Lambert
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April 24, 2013, 06:25:27 PM
 #29

You guys should waive the transaction fees on these bonds, considering they inherently support your site any way.
No chance of this, huh?

This did not make sense, if btct.co waived the fees for the traded shares, then they would not support the site. The fees are pretty low, if you are not making enough money in trading and dividends to basically ignore the fees then you are doing something wrong.

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ar9
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April 25, 2013, 12:17:44 AM
 #30

Yeah, sorry guys, I thought this bond was created by burnside himself, to support the site.  Didn't realize there wasn't an affiliation there, my bad!
logicbomb666
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May 01, 2013, 04:49:00 AM
 #31

I think I might be missing something here.

Your listing on btct.co states:
Quote
- Bonds shall pay a variable interest of no less than 0.03% daily.
- Bonds have a face value of 0.01 BTC  

So the value of each share is 0.01BTC.
The daily interest payment history shows daily payments of 0.00000300BTC

0.03% of 0.01BTC = 0.003BTC, not 0.00000300BTC.

Assuming your percentage is based off of USD/BTC conversion;

Right now, to be conservative, BTC is trading for $120 per 1BTC.
0.01BTC = $1.20.  
0.03% of $1.20 is $0.036

$0.036 = 0.003BTC
0.00000300BTC != 0.003BTC

What am I missing?

I think snare rolls should be used as a currency.
punkideas
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May 01, 2013, 05:07:24 AM
 #32

I think I might be missing something here.

Your listing on btct.co states:
Quote
- Bonds shall pay a variable interest of no less than 0.03% daily.
- Bonds have a face value of 0.01 BTC  

So the value of each share is 0.01BTC.
The daily interest payment history shows daily payments of 0.00000300BTC

0.03% of 0.01BTC = 0.003BTC, not 0.00000300BTC.

Assuming your percentage is based off of USD/BTC conversion;

Right now, to be conservative, BTC is trading for $120 per 1BTC.
0.01BTC = $1.20.  
0.03% of $1.20 is $0.036

$0.036 = 0.003BTC
0.00000300BTC != 0.003BTC

What am I missing?

You're misreading the percentage.  It's three one-hundredths of a percent a day (principal * .0003).

So .0003*.01=.000003
Namworld
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May 01, 2013, 05:21:54 AM
 #33

Indeed, 0.03% and not 3%.

x 365 days, it comes to 10.95% per year that I pay on that loan.

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usagi
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May 01, 2013, 06:06:15 AM
 #34

Indeed, 0.03% and not 3%.

x 365 days, it comes to 10.95% per year that I pay on that loan.


FWIW... in Excel, (POWER(1 + (0.000003/0.01), 365.249) - 1) = 11.5785%
Deprived
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May 01, 2013, 07:19:52 AM
 #35

Indeed, 0.03% and not 3%.

x 365 days, it comes to 10.95% per year that I pay on that loan.


FWIW... in Excel, (POWER(1 + (0.000003/0.01), 365.249) - 1) = 11.5785%

That's compounding - namworld's figure is non-compounding.

If you have DRIP switched on (or manually buy more with dividends each day) then you'd get nearer your value (to get exactly it you'd have to receive dividends that could precisely be reinvested for a full number of shares every day).

If you don't reinvest then you get namworld's figure.
Peter Lambert
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May 01, 2013, 03:49:53 PM
 #36

Indeed, 0.03% and not 3%.

x 365 days, it comes to 10.95% per year that I pay on that loan.


FWIW... in Excel, (POWER(1 + (0.000003/0.01), 365.249) - 1) = 11.5785%

From Namworlds perspective, since he is not selling more of the bonds right now, it makes more sense to use the non-compounding formula, since that is what he is actually paying.

This is about the same APR that I have on my credit card, which is reasonable for a personal line of credit (as opposed to some people who think 7% per week is more reasonable because ... bitcoin!).

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logicbomb666
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May 01, 2013, 08:11:16 PM
 #37


You're misreading the percentage.  It's three one-hundredths of a percent a day (principal * .0003).

So .0003*.01=.000003

*facepalm.   

Thanks for the clarification.  I thought I was losing my mind.

I think snare rolls should be used as a currency.
StevenPine
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May 05, 2013, 11:11:26 PM
 #38

Given the upcoming changes to remove 'dust' from transactions, I'm curious how this will affect the daily dividend pay out?

Let's get 2 factor authentication
https://bitcointalk.org/index.php?topic=178568.0
Namworld
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May 06, 2013, 03:34:13 AM
 #39

It's on BTCT.co, there's no microtransaction needed.

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btharper
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May 07, 2013, 06:31:50 PM
 #40

It's on BTCT.co, there's no microtransaction needed.
To expand on this because I'm not sure everyone will understand what you mean, the only things that go onto the blockchain (where dust rules are in effect if nodes stick with the default configuration) are deposits and withdrawals, everything else is handled by the exchange locally in a normal database. Dividends are just added to the site's information about your current balance.
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