ThickAsThieves At least he had the sense to make his bond callable, unlike Graet or Namworld.
mircea_popescu Why is a callable bond sense ?
jcpham It gives you exit strategy, albeit one that might cost you. But probably a decent exit strategy given x amount of time.
ThickAsThieves Because it needs to end someday, no? What if bitcoin investment market becomes more like the meatspace market, and a reasonable APR is like 5% or whatever these bonds will sell at a premium and he'll be locked in. Making them callable gives a way out.
mircea_popescu This is why bonds have maturity dates. It may need to end sometime, but it may NOT induce uncertainty in the system.
ThickAsThieves Granted he is only offering 1% penalty which is nothing. Makes the whole thing that much more scammy, because he's offering 2% monthly and could call back for less.
mircea_popescu You can't call back "for less" lmao. Jesus fuck I'm trapped in the head of a 5yo! THIS COMMUNITY IS RETARDED.
ThickAsThieves Suppose he takes the loan and then calls them back 3 weeks later at 1% premium, buyer gets shorted 1%.
mircea_popescu No. Buyer gets shorted all the DDi, all the fiscal implications and all the other inconvenience a spontaneously collapsing of its own volition investment structure bringsii. Bonds have terms. There's no such "callable" bs.iii The reason bonds have terms is because bonds finance a definite something, which means they are part of a plan, which plan necessarily has terms to be a plan. The fact that all teh forum ninnies do not know this and do not wish to bother with this doth not make things different.
jcpham So a callable bond is sortof a loan.
mircea_popescu A callable bond is the equivalent of the fiddy bux you lend to your coworker. Fuck me I had to say that. Now there's going to be an office coffee kitten ipo.
jcpham I'll print flyers and visit the local high schools to raise the capital.
ThickAsThieves So if you call it a loan then everything is square?
mircea_popescu ThickAsThieves no. Because you don't "list" loans, even on "exchanges", admitting it's what they are on the strength of it being what they call themselves.
mircea_popescu All this shit. All this shit has reasons to exist and causes it's so. Tits on men are there for a reason, not because the original bad fanfic writer fucked up. God is not a fanfic writer, and the random fanfic writer is not motherfucking god. Loans and bonds are different things for cause. That cause is not "the order in which princess pokemon oliver learned the respective words". A bond is not the loan of 2013, a loan is not the bond of 2014. Bloody Hell.
To sum this stuff up :
It's not about how old the fuckwit is. Everyone that hasn't been 21 already will be 21 at some point in the future. It's not about going to Stanford, I used to fuck a girl who lived across the street from Stanford and she had a cat which went to Stanford all the god damned time.
It's not about "more millions than his age". It's not about the secret of the lone mom who discovered how to take out stains in a way big corporations hate. It's not about being reported on by the retarded press (which means all of the press if you don't know better). It's about the business plan and nothing else. Absolutely nothing else at all.
It's about the business plan. That business plan is yet another website purporting to process payments "easier" "hypier" and whatever, green-er ? Fail. That's all.———
- Due diligence. It's a thing. [↩]
- This point can not be accentuated enough. If you create some sort of an asset you can not then change its structuring. Ever. No matter what. In no way and in no manner whatsoever. This is because changes will have unpredictable effects downstream. It having effects means someone will have a better position and someone will have a worse position. This is never acceptable, because they with a worse position now have a valid claim for compensation for your deed. The effects being impredictable however means that you can't even establish the sum total of compensation owed in many cases.
It's not even a matter of you having or not having enough BTC, now or in the future. It's a matter of making it impossible to correctly and verifiably assign responsibility, which means that making things of this nature makes you one of the scammers. Even if you do not intend to scam anyone, and even if you do not in fact manage to get a car or motorboat or whatever the fuck your retarded mind arbitrarily paints into the "real proof" of scamming.
This is why assets must be correctly structured by people who know what the fuck it is that they are doing, and this is why blown assets, such as gigavps' crap or such as usagi's crap - and the two are not actually distinguishable - can never be fixed, no matter what happens. The only solution is to behead the causes of the problem and move on. And yes beheading is forever. Contrary to insanities widely held by the illiterate crowd there exists not such a thing as "redemption" and there exists not such a thing as "let's rejudge already adjudicated matters every three to six months in the court of public sentiment, who knows, maybe the verdict changes". [↩]
- For the record, in actual sanity land bonds callable by the issuer to exist, to accomodate a very particular situation : the home financing consumer wishes to have the ability to pay early on their mortgage. Since most of these mortgages are packaged into securities and then sliced as bonds, it is unavoidable to bundle the option downstream as the cost of retaining it and [insuring for the] servicing of it is usually too large to make it economically feasible. There's no such equivalent legitimate need at work here in any case. [↩]