[GLBSE] GIPPT Delisting 100% paid.

[brendio]

2.2080185    GIPPT    2012-09-25 04:18:41

I have 19 GIPPT shares, so that's 0.1162115 per share if I'm not mistaken.

Great :-)
seems like the dividend worked even though the asset was delisted.
//DeaDTerra

Can somebody work out the total principal repaid so far as dividends? I have not held the shares for the whole time to be able to work it out from my records.

[1714068434]

1714068434

[1714068434]

1714068434

[1714068434]

1714068434

[1714068434]

1714068434

[ADgordo]

2.2080185    GIPPT    2012-09-25 04:18:41

I have 19 GIPPT shares, so that's 0.1162115 per share if I'm not mistaken.

Great :-)
seems like the dividend worked even though the asset was delisted.
//DeaDTerra

Can somebody work out the total principal repaid so far as dividends? I have not held the shares for the whole time to be able to work it out from my records.

DeadTerra, could you possibly put up a spreadsheet for us to see what has been paid back when and what % of the principle is remaining?

[DeaDTerra]

2.2080185    GIPPT    2012-09-25 04:18:41

I have 19 GIPPT shares, so that's 0.1162115 per share if I'm not mistaken.

Great :-)
seems like the dividend worked even though the asset was delisted.
//DeaDTerra

Can somebody work out the total principal repaid so far as dividends? I have not held the shares for the whole time to be able to work it out from my records.

DeadTerra, could you possibly put up a spreadsheet for us to see what has been paid back when and what % of the principle is remaining?

Okay will do, I first want another confirm of the latest dividend as I was unable to get the data due to GLBSE removing the asset from trade.
//DeaDTerra

[Sukrim]

Dividends:
5.9267865   GIPPT      2012-09-25 04:18:42

I hold 51 shares of GIPPT, so 5.9267865/51 = 0.1162115 BTC/share as dividend.

Also I'm back in action and WTF was going on here - just left for (not even) 2 months and suddenly pirate defaults, mining breaks through 3 million diff, BTC is worth over 12 USD, people bitch about GLBSE more than ever and so on...

[Dalkore]

Dividends:
5.9267865   GIPPT      2012-09-25 04:18:42

I hold 51 shares of GIPPT, so 5.9267865/51 = 0.1162115 BTC/share as dividend.

Also I'm back in action and WTF was going on here - just left for (not even) 2 months and suddenly pirate defaults, mining breaks through 3 million diff, BTC is worth over 12 USD, people bitch about GLBSE more than ever and so on...

Yeah, a lot has happened.  Welcome back.  It seems like tons of drama, but in the end, it will be a good thing.  People are learning hard-learned lessons and basic financial concepts that will help them in the long-run.

[exahash]

Can somebody work out the total principal repaid so far as dividends? I have not held the shares for the whole time to be able to work it out from my records.

I've got it in a spreadsheet, here you go:

Code:

Date               div         Running Total
8/25/2012 17:18    0.37        0.37
9/2/2012 14:21     0.021       0.391
9/6/2012 14:39     0.04        0.431
9/25/2012 4:18     0.1162115   0.5472115

That leaves 1 - .5472115 = .4527885 btc/shr to be repaid.

BTW: how do you get tables to show up right on this forum? 

[nimda]

It's tricky. Quote my post.

Apple	Bet	Cat
Dank	Einstein	Free

[imsaguy]

Code:

[table]
[tr][td]Apple[/td][td]Bet[/td][td]Cat[/td][/tr]
[tr][td]Dank[/td][td]Einstein[/td][td]Free[/td][/tr]
[/table]

[dust]

Update.
The depositors will return the backings on the 9th of September and the 28th of September respectively after these two payment all of the GIPPT shares will have been paid back 1 BTC.
How much we will receive during each payback I do not know yet.
//DeaDTerra

It has been over a month since pirate defaulted and only about half of the coins have been returned.

[DeaDTerra]

Update.
The depositors will return the backings on the 9th of September and the 28th of September respectively after these two payment all of the GIPPT shares will have been paid back 1 BTC.
How much we will receive during each payback I do not know yet.
//DeaDTerra

Yes that's what the depositors told us and the dates that was given to us in the deal we made with the depositors.
They failed to deliver unfortunately, which meant we couldn't payout.
//DeaDTerra

[dust]

The following contract has been signed by the two parties involved
Imsaguy also has to notify me if INAU has requested a cancel of the Deposit, to make sure that we have enough backing for the bonds. Also if ImsaGuy defaults then INAU is still responsible for the backing and insurance.

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

- -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

This contract is a loan provided by ineededausername to imsaguy.

(1) Addresses

ineededausername - 112N78zVYPairAzsBZgejEaob7gE8CenW7
imsaguy - 1CntCXtyq2kFiYpFwpua2k2XaKdHffLz2A

(2) Terms

3750 BTC was provided to imsaguy's designated address on August 2, 2012.  In return, imsaguy shall pay 9% interest on every 2nd day of a month to ineededausername's designated address.  The principal will be returned if one of the following happens:

  (a) imsaguy, having provided 2 weeks' notice, requests that the loan be terminated on the 2nd of some month.
  (b) ineededausername, having provided 2 weeks' notice, requests that the loan be terminated on the 2nd of some month.

(3) Collateralization

This debt shall be used as collateral for DeaDTerra's GIPPT (Insured Pirate Passthrough) bond.  In case ineededausername defaults on that debt, imsaguy must pay as much principal and interest (up to the current principal and interest due) as necessary back to the holders of GIPPT bonds.  
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Interestingly, according to the contract between imsaguy and INAU, imsaguy must repay all GIPPT investors if INAU defaults.  INAU is clearly in default.

[DeaDTerra]

The following contract has been signed by the two parties involved
Imsaguy also has to notify me if INAU has requested a cancel of the Deposit, to make sure that we have enough backing for the bonds. Also if ImsaGuy defaults then INAU is still responsible for the backing and insurance.

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

- -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

This contract is a loan provided by ineededausername to imsaguy.

(1) Addresses

ineededausername - 112N78zVYPairAzsBZgejEaob7gE8CenW7
imsaguy - 1CntCXtyq2kFiYpFwpua2k2XaKdHffLz2A

(2) Terms

3750 BTC was provided to imsaguy's designated address on August 2, 2012.  In return, imsaguy shall pay 9% interest on every 2nd day of a month to ineededausername's designated address.  The principal will be returned if one of the following happens:

  (a) imsaguy, having provided 2 weeks' notice, requests that the loan be terminated on the 2nd of some month.
  (b) ineededausername, having provided 2 weeks' notice, requests that the loan be terminated on the 2nd of some month.

(3) Collateralization

This debt shall be used as collateral for DeaDTerra's GIPPT (Insured Pirate Passthrough) bond.  In case ineededausername defaults on that debt, imsaguy must pay as much principal and interest (up to the current principal and interest due) as necessary back to the holders of GIPPT bonds.  
- -----BEGIN PGP SIGNATURE-----
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Interestingly, according to the contract between imsaguy and INAU, imsaguy must repay all GIPPT investors if INAU defaults.  INAU is clearly in default.

Why do you say that INAU has defaulted?
I am in contact with both Nick (IMSAGuy) and INAU.
//DeaDTerra

[dust]

DeaDTerra and I have vastly different definitions of default, as can be observed at multiple instances in this thread.  I consider imsaguy, hashking and INAU to be in default as they have failed to repay their obligations within a reasonable timeframe, and have missed deadlines agreed upon during the repayment process.

Okay!
I am starting to feel like a bad guy over here, which I do not want!
Hence me and INAU will pay the dividend out of our pockets for now until we can do either of:
A, There's evidence or it's obvious that pirate will default or that he will not pay out within a reasonable time limit (one-two weeks)
B, Pirate pays us back.
Then we will buy back the bonds.
Is everyone happy with this deal?
//DeaDTerra

Also, what happened to this?

[DeaDTerra]

DeaDTerra and I have vastly different definitions of default, as can be observed at multiple instances in this thread.  I consider imsaguy, hashking and INAU to be in default as they have failed to repay their obligations within a reasonable timeframe, and have missed deadlines agreed upon during the repayment process.

Okay!
I am starting to feel like a bad guy over here, which I do not want!
Hence me and INAU will pay the dividend out of our pockets for now until we can do either of:
A, There's evidence or it's obvious that pirate will default or that he will not pay out within a reasonable time limit (one-two weeks)
B, Pirate pays us back.
Then we will buy back the bonds.
Is everyone happy with this deal?
//DeaDTerra

Also, what happened to this?

Option A was satisfied.
Hence we stopped paying dividends.

Okay, Well I have talked to nick and he is not letting INAU sell off or withdraw his deposit with him until he has paid back GIPPT/if INAU runs the debt will be re written to the GIPPT share holders.

Good answer, but I would like a little further clarification just because I don't see the answer-

Someday (in non-default based future), Pirate will drop his service and return all deposits.  What happens at that point?  I assume since you got all the deposits returned to you, you will turn around and buy back all shares @1 btc.  Correct?

How big does someone have to be to ask for a direct withdrawal?  Is there any price point of GIPPT where you would consider initiating a small pirate withdrawal specifically to buy back shares on GLBSE and cancel out the shares?  If you don't do this then I think you are earning interest yourself on value that is no longer present in the market you created... it's an interesting position to be in.

Apologize if these are dumb questions, I like your fund.

Thank you-

I think the bonds are worth hell of a lot more then they are currently, which is kind of sad to see You guys don't like the asset?

The bonds are worth more than 1.2 BTC, by my math. The market is simply saturated. 1 BTC is a joke for them, because then there's 0 risk for the investor of a pirate default. Pirate defaults, I don't lose anything. And that is why I pulled out of YARR and won't be buying Goat's bond.

It is not zero risk.  If pirate defaults, you have to hope that ineedausername and imsaguy, who are both heavily invested in pirate, do not default on the insurance.

Remember this:

Logic question.

Supposedly, someone offers to lock up 5k in escrow and then insure 5k pirate coins with it, paying 2.5% interest to customers on them. If the same person were to just place the 5k into BS&T and take the whole interest himself, he would never have more risk, but always more profit.

I don't see why anyone would make such an offer.

This is indeed something you must believe otherwise only 5% is risk free.
But it can't get much safer except 100% in a offline wallet.
I have not 1, not 2 but 3 people that need to default for the bonds to reduce in value and in that case you still get my 5%
//DeaDTerra

As said before If all these three people were to default then I would still pay my 5% which I have done.
Now I am still talking to Nick and INAU even though they have defaulted by your definition, they have not run away or abandoned the payback process.

//DeaDTerra

[imsaguy]

DeaDTerra and I have vastly different definitions of default, as can be observed at multiple instances in this thread.  I consider imsaguy, hashking and INAU to be in default as they have failed to repay their obligations within a reasonable timeframe, and have missed deadlines agreed upon during the repayment process.

First, the contract is between INAU and myself.  Its technically up to the two of us to enforce.

Second, I agree that the part that you bolded is the relevant clause.

(3) Collateralization

This debt shall be used as collateral for DeaDTerra's GIPPT (Insured Pirate Passthrough) bond.  In case ineededausername defaults on that debt, imsaguy must pay as much principal and interest (up to the current principal and interest due) as necessary back to the holders of GIPPT bonds.  

The debt is the collateral.  There wasn't a timeline for the repayment of that debt in the case that INAU defaults.   I have paid and continue to pay on this.

[DeaDTerra]

DeaDTerra and I have vastly different definitions of default, as can be observed at multiple instances in this thread.  I consider imsaguy, hashking and INAU to be in default as they have failed to repay their obligations within a reasonable timeframe, and have missed deadlines agreed upon during the repayment process.

First, the contract is between INAU and myself.  Its technically up to the two of us to enforce.

Second, I agree that the part that you bolded is the relevant clause.

(3) Collateralization

This debt shall be used as collateral for DeaDTerra's GIPPT (Insured Pirate Passthrough) bond.  In case ineededausername defaults on that debt, imsaguy must pay as much principal and interest (up to the current principal and interest due) as necessary back to the holders of GIPPT bonds.  

The debt is the collateral.  There wasn't a timeline for the repayment of that debt in the case that INAU defaults.   I have paid and continue to pay on this.

This is indeed the case.
//DeaDTerra

[Timbo925]

Any new news about new payouts ??

[Timbo925]

With all the glbse trouble Is there a new plan to fix the payout. We still need to get paid almost half the money of the 100% garantied payout.
Thanks

[DeaDTerra]

With all the glbse trouble Is there a new plan to fix the payout. We still need to get paid almost half the money of the 100% garantied payout.
Thanks

I will do my best to honor the contract, it's to early to say how and it's mostly up to how James fixes this.
But I will do my best to ensure the contract is honored.
//DeaDTerra

[Lobstertorch]

Any updates here?