I created another Bitcoin bond POC
23/7/11, 3:26
(1 votes, average: 5.00 out of 5)
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(1 votes, average: 5.00 out of 5) Loading ...I posted some months ago about a proof of concept Bitcoin Bond. The sale of that bond was conducted via a forum thread.
A few months have passed, and the Global Bitcoin Stock Exchange is almost usable now. By “almost usable” I mean it has a GUI (even if not a very intuitive one). I wanted to test this for myself, so I issued a Bitcoin Bond. The terms are simple, and listed in the bond itself: You buy shares of the bond, and I pay you 1 BTC per share at December 1st, 2011. I put 52 bonds for sale right now on GLBSE, most of them for 0.95 BTC each.
By buying these bonds, you can make 5.26% on your money, guaranteed. See this forum post for more details and discussion.
Ron Gavriely:
You may promise me that I will make 5.26% (assuming you will honor the bond, and not default on your word) but what grantee do I have that the value of bitcoin itself will not fluctuate?
In the normal currency market, I can buy futures and grantee the exchange rate in the future, assuming again that I trust banks that sell me the contracts will not foreclose, but bitcoin seems riskier, and therefore I am not sure that %5.26 is worth the risk (though anyone that does buy the bonds think it does)
25/7/11, 1:54ripper234:
Just like when you buy a dollar bond, nobody guarantees anything about the value of the dollar itself, just so in bitcoin.
You can buy bitcoin futures at http://bitoption.org
A lot of people are just holding bitcoin in their wallet anyway – so for them the risk tied to bitcoin currency is there anyway – this is just adding the risk that I default.
25/7/11, 8:42