iron77
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Activity: 112
Merit: 22
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August 13, 2012, 11:08:52 AM |
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Putting his offline coin to work seems to be valid reason.
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coinft
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August 13, 2012, 11:45:06 PM |
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But goat, you have a lot of money. Your default risk is the same as investing directly into pirate, and you make almost 2x as much as insuring it. Why are you doing this, anyway?  since it can't be due to the high profit margins. With the IPO price he can finance the collateral and with the rest put into pirate he can just barely finance the interest, without touching his own money. By a hair. And only as long as pirate does not default. Goat seems to be very very sure pirate will not default. |
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teek
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August 14, 2012, 12:17:14 AM |
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Photo of the insurance coin.  damn.. i want me one of those! |
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Bitcoin Oz
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August 14, 2012, 12:18:37 AM |
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Whats the difference between simply placing 1btc into cold storage then sending .55 to bitcoinmax versus getting an insured passthrough ?
You are still at risk of losing the .55btc so you may as well get all the benefit if the pirate doesnt default. Maybe I am missing something ?
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teek
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August 14, 2012, 12:25:41 AM |
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He makes really good stuff. The best looking coin IMO is the Silver one with the gold B. I bought at least 5 of them:)
Ya I finally just made an order for some a week or so ago.. including the silver one with the gold, I am really excited to see that one heh. but the 1000 btc well.. maybe one day 1000 btc coin, maybe one day..  |
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Bitcoin Oz
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August 14, 2012, 12:40:13 AM |
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Whats the difference between simply placing 1btc into cold storage then sending .55 to bitcoinmax versus getting an insured passthrough ?
You are still at risk of losing the .55btc so you may as well get all the benefit if the pirate doesnt default. Maybe I am missing something ?
Because I pay significantly more than what sending that .55 BTC to pirate would get. Yes I realised that after I posted Nice looking coin btw. Thanks for posting the pic. |
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dust
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August 14, 2012, 04:04:13 AM |
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1Au1PEH71fsKfhgHSGN77CmH9tVmURriAY
This is the Public address and has just been funded.
This is a 1000 BTC Casascius gold coin.
This will be the insurance BTC for the bond.
IPO is going live.
Thanks:)
Photo of the insurance coin.  +1 to Goat. This is by far the best insurance I have seen. GIPPT take note. |
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smoothie
Legendary
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Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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August 14, 2012, 09:03:17 AM |
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1Au1PEH71fsKfhgHSGN77CmH9tVmURriAY
This is the Public address and has just been funded.
This is a 1000 BTC Casascius gold coin.
This will be the insurance BTC for the bond.
IPO is going live.
Thanks:)
Photo of the insurance coin. +1 to Goat. This is by far the best insurance I have seen. GIPPT take note. I like your signature. Mega LuLz |
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,█████ ╙████████████████████╨ █████y
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███████ ▐▄ ²██╩ a▌ ███████
╢██████ ▐▓█▄ ▄█▓▌ ███████
██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─
▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌
▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─
²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩
▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀
²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`
²²²
███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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Tomatocage
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Activity: 1554
Merit: 1222
brb keeping up with the Kardashians
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August 14, 2012, 03:51:29 PM |
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Hey Goat, are you still issuing any new shares at 1.55?
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Tomatocage
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Activity: 1554
Merit: 1222
brb keeping up with the Kardashians
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August 14, 2012, 04:18:46 PM |
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Awesome! Looking forward to picking some up. Thanks!
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dust
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August 14, 2012, 04:53:33 PM |
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Hey Goat, are you still issuing any new shares at 1.55?
I will after I pay out today's dividends. I will do that once Pirate sends the funds and I send them out on GLBSE. Thanks. Pirate hasn't sent everyone this week's interest yet!?! |
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Tomatocage
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Activity: 1554
Merit: 1222
brb keeping up with the Kardashians
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August 14, 2012, 04:57:11 PM |
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He has. See Goat's other thread. Divs are on the way.
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Marco Polo
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Activity: 29
Merit: 0
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August 14, 2012, 07:09:25 PM |
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Yey 9 bonds bought xD
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conspirosphere.tk
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Activity: 2352
Merit: 1064
Bitcoin is antisemitic
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August 14, 2012, 07:35:58 PM |
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Does this mean if pirate shuts down his operation and returns everyone's money, you only buy back at 1BTC?
Yes. I'm betting Pirate will do just this. So if you are right paying anything for insurance on Pirate is pointless. I tend to agree, for different reasons (a diversified portfolio can be cheaper and pay more) |
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Tomatocage
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Activity: 1554
Merit: 1222
brb keeping up with the Kardashians
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August 14, 2012, 09:49:50 PM |
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Will the strike price change if Pirate lowers your rate?
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Otoh
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Activity: 3024
Merit: 1105
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August 14, 2012, 10:03:48 PM |
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Since you bought your coin at LV a couple or so weeks ago the bitcoins in it have gone from about $9,000 to $12,340 & the gold from about $1,620 to $1,600 - over 37% nice |
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Otoh
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August 14, 2012, 10:12:00 PM
Last edit: August 14, 2012, 10:29:26 PM by Otoh |
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seriously we should ask Casasius to make a 1,000,000 LTC version, cheaper too at $5,000 to $6,000 & say $1,400 in Platinum perhaps + mark up = approx $8,000 to $9,000 maybe edit: I just did https://bitcointalk.org/index.php?topic=54845.msg1100259#msg1100259 |
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Otoh
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August 14, 2012, 10:31:46 PM |
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seriously we should ask Casasius to make a 1,000,000 LTC version, cheaper too at $5,000 to $6,000 & say $1,400 in Platinum perhaps + mark up = approx $8,000 to $9,000 maybe
He will will make us a bar. I have already asked. Really I should have him do it. Would be bad ass:) But I think you mean 100k not 1mill. see edit above, ah sry I was priceing them in BTC by mistake, so yep 100k LTC at say $6,000 to $10,000 depending on how much in bulk OTC you could scoop up, actually that's much better too as there aren't enough coins atm to find 1M easily |
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ShadowAlexey
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Activity: 968
Merit: 1002
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August 17, 2012, 07:44:41 PM |
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Well Goat, this was a master peace, congratulate u with all funds acquired in such short period. It lasted less than 2 weeks)
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Rygon
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August 17, 2012, 08:35:11 PM |
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Well Goat, this was a master peace, congratulate u with all funds acquired in such short period. It lasted less than 2 weeks)
You assume Pirate has paid back, he has not yet:) Either way your bonds are worth 1 BTC I think he was referring to the fact that you sold bonds around 1.5-1.6 BTC, made one payout from BS&T of 0.055, and due to the fortuitous timing of the BS&T wind down, you are buying back at 1.0 BTC. Assuming BS&T winds down correctly, I roughly estimate a 750 BTC gain for you and a 0.4-0.5 BTC/share loss for purchasers of the IPO. We all knew the risks though going into it though... |
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