916700+ entries in 0.606s
tiberiusiv: vs buying
them from any other dealer ANYWHERE
tiberiusiv: im argueing why would i go buy coins and have
them stored with YOU
usagi: Is
that
the best you can do?
usagi: You're whining about how we're 30% more expensive
than a futures contract because we deal in 1/2 oz coins.
usagi: Why would anyone want
to discuss
the market with a clueless fuck like you?
tiberiusiv: why would anyone want
to store silver maples with a clown?
tiberiusiv: no i call it a junk fund becuase you are SMALL
time
usagi: Seriously, stop wasting my fucking
time.
usagi: Then you want
to call it a junk fund because it's less liquid
than a 1000oz futures contract?
usagi: Seriously, you're being retarded. You want
to
talk shit about how I do
things and you don't know we deal in small denomination coins and haven't read our contract
tiberiusiv: secure storage is a apartment or basement
to you
tiberiusiv: lol who would send
this fking vagabond loser any money?
usagi: You are clueless, really :) Like
that dub guy.
tiberiusiv: yea just like
that jay guy from coinabul
usagi: It is more liquid. We're small.
That doesn't justify
the "nerd", "junk fund", etc.
usagi: Which explains
the entirety of
the "30% cheaper"
usagi: For one, a 1000 oz delivery contract is vastly different
than a guartantee on your choice of 1/2 oz rounds
tiberiusiv: there is no evidence silver acts as a protection in
the event of a crisis
usagi: Yeah but you're a little clueless when it comes
to investing in silver, aren't you?
tiberiusiv: vs some internet nerd operating on
thin margins out of a basement
tiberiusiv: no i merely stated
there is much better options
usagi: If you feel
the price is
too expensive, perhaps
they know something you don't know? I dunno. I don't understand it myself. I just sell silver.
usagi: Let me put it
this way. We sold over 1,000 units into
the market. Anyone is free
to offer
their units for sale.
usagi: Only you can answer
that question
tiberiusiv: yea again why would i go
to you when
there is more safer, liquid and easier
to access options?
gribble: Currently authenticated from hostmask usagi!Guest12477@122-121-246-63.dynamic.hinet.net . User Usagi, rated since Mon Jun 18 10:33:55 2012. Cumulative rating 33, from 32
total ratings. Received ratings: 28 positive, 4 negative. Sent ratings: 43 positive, 4 negative. Details:
http://bitcoin-otc.com/viewratingdetail.php?nick=Usagi usagi: Yeah we're sold out now and
the market is setting
the price.
usagi: Do you have
to pay a fee when you
take delivery?
usagi: really? I heard
they were shortt
usagi: Well for one, when you
try
to get delivery in physical, you can be given a cash settlement by fiat
usagi: Sort of.
The idea is
to keep
the price of units at
the cost of silver plus shipping and secure storage
tiberiusiv: now why would i want
to own an industrial metal
usagi: Yeah well I wish deprived would shut up about how I am selling shares unbacked by silver, but hey, if he has
the right
to lie
then I have
the right
to correct him.
dub: beyond (and before)
that it is a fairytale
that we wish you would stfu about
usagi: Now you know everything you need
to know
to calculate our value
to within 5%, as our investment position has been disclosed.
usagi: Beyond
that we have a 2% markup and we use
the actual rates we've paid for shipping in
the price
to factor
that in
usagi: If you want
to know everything you need
to know
to build your own
trading model, we use a coin and duty premium of $5 right now, which is less
than
the premium charged on
the canadian maples we order exclusively from amagi metals
gribble: BTCUSD
ticker | Best bid: 140.99999, Best ask: 141.00000, Bid-ask spread: 0.00001, Last
trade: 141.00000, 24 hour volume: 188586.01119054, 24 hour low: 120.08900, 24 hour high: 162.00000, 24 hour vwap: 142.90861
usagi: And
they're not for public dissemination precisely because
they would be assumed
to be investment advice.
They're not.
ThickAsThieves: i have no interest in
tusilver but i do
trust deprived's abilities
usagi: Ahh, you mean when deprived stole our internal calculators and posted
them on
the forums?
Those were internal company documents used
to record buys and sells on bitfunder
ThickAsThieves: if anyone is interested
talk
to Deprived on
the forums
usagi: ThickAsThieves;
there was no public audit.
usagi: free shipping 7 days anywhere in
the world
ThickAsThieves: i dont want
to get into it but it should be said
that usagi's bookkeeping did not stand up
to a public audit
seongyupyoo: i need
to get going,
thanks for all your helps guys. i don't know how
this chatroom operates exactly, but i will be back :)
usagi: deadweasel;
total divs
to date: 0.034788, sliver/btc/10 price is now .016 or so per unit, so, over 200% profit
seongyupyoo: maximilian, escrow does not work for my model because i don't want
to be in
the middle of people handling
their
transaction because of USD
seongyupyoo: i feel it must pass
the standard of community on reddit in order for it
to be adopted and used widely by
the whole global community
usagi: The fact is silver went down, but compared
to if we just leveraged pure silver on
the way down, my investors made ovr 100% compared
to
the price of silver
today
seongyupyoo: that's
true, but i
think in
this case, it is important
to gain validation of smart people especially since bitcoin community has been hurt with so many scams
usagi: People place far
too much faith in
the long and winding road of procedure when in
the end it boils down
to
trust anyways.
seongyupyoo: i would prefer
to have a system
that is good by design
than have
to hire people
to watch over it
seongyupyoo: well sending it back
to blockchain is
the best way as far as i can
tell atm
usagi: That's what I did with my company
TU.SILVER. I have a registered CA looking at
the books, and a highly
trusted community member providing operational oversight
usagi: So, hire someone
to audit your books.
seongyupyoo: if i just leave it as is, i have incentive
to make fake accounts and go on a destroying spree
usagi: I don't
think people are going
to be concerned with
that if your business
takes off
usagi: so I would not
try
to justify how you do it, just state
that you keep
the funds "like a library fine" and leave it at
that.
maximian: unless I've misunderstood what you're
trying
to do
usagi: Anyways, I don't like how you explain how you keep
the destroyed funds, because until
that moment you speak of
the funds as "destroyed"
usagi: I assume you are from Korea? Have you been
to Jeju island? I hear it is so beautiful.
maximian: Bitcoin has a mechanism for multisig
transactions - destruction isn't necessary
usagi: Oh, I am used
to last name first
seongyupyoo: well, i really feel
that something like nashx needs
to exist for everyone's benefit
usagi: So what your saying is, you are
too legit
to quit. Sounds good :)
usagi: Oh nashx.
Thats a good idea, if it works you will be rich.
ThickAsThieves: for
the 3rd problem you can simply make your escrow address publicly known
seongyupyoo: at least
to
the next version having solve
these 4 problems
kakobrekla: seongyupyoo, balances and
txes are public and audiable... so
transparency is not a big issue
seongyupyoo: last problem is problem of big
transactions
usagi: So your goal is
to make it legit.. and your not planning
to quit, as a result of
that? you will see
this
through?
seongyupyoo: where as if it was under mosaically umbrella,
then it would be under a corporation
seongyupyoo: well someone
thought
that it was an issue, you're right it might not really be an issue. and it really isn't, but it was brought up, and i can see how some people might see
that as risk
usagi: I'm
trying
to understand
this, so, you want
to run a mining pool?
usagi: What was
the middle
thing?
seongyupyoo: i'll remedy
that by making all
transactions and messages between
trader and such available for public view
seongyupyoo: 3rd problem is
transparency, basically
the ability for people
to be able
to see all
that is happening in
terms of
transactions
seongyupyoo: 2nd problem was destroying of
the destroyed funds, and i'll handle
that by sending it back
to blockchain as fee
kakobrekla: you are now arbitrarily setting what is ok give
to pool ops?
seongyupyoo: anyways,
the first problem was issue of me running away with risk funds
seongyupyoo: so max destruction is going
to be 20-40 BTC at most
seongyupyoo: also i figured out a way so
that nobody will ever have
to risk 100 BTC