mircea_popescu: these are 1. fixed principal and 2. maturity date.

mircea_popescu: What this means is that the holder of one option has the right (but not the obligation) to sell 10 Th (that's ten thousand billion hashes, or approximately 2.77 Gh/s running for one hour) for 0.075 BTC

mircea_popescu: but i mean it's block * hashes by diff times 2^32 no ?

mircea_popescu: .py 1.0*(50 * 10^12)/(2190866 * 2^32)

mircea_popescu: .py (50 * 10^12)/(2190866.0 * 2^32)

mircea_popescu: .py (50 * 10^12)/(2190866 * 2^32)

mircea_popescu: .py ((50 * 10000000000000)/((2190866 * 2^32)))

mircea_popescu: ((bReward * firstDiffTime * MhBond * 10^6)/((firstDiff * 2^32)))+((bReward * secondDiffTime * MhBond * 10^6)/((secondDiff * 2^32)))

mircea_popescu: We'd hoped that our offer would both push Bitcoinica to resolve the claims faster, and give them more room for error. If they resolved all the claims within 6 months and paid us an equal pro rata share, they'd have immunity from us. Coincidentally, the amount of funds stolen only 2 days after this offer was made was nearly 100% of what we were owed at the time.

mircea_popescu: that's payroll for 2 people but not 20

mircea_popescu: you know, it's funny... bitcoinica and mpoe were born like 2 weeks apart

mircea_popescu: the limit was 2% but it was moved in may to 5%

mircea_popescu: if you'll trade more than 2,5k or so you're better off on mpex

mircea_popescu: i think it's pretty simple, on glbse you get free account and 1% fees round trip. on mpex you have to ante 20 btc and fee is .2% round trip.

mircea_popescu: it launched at 0.1 if memory serves. or 0.2 or something

mircea_popescu: and if you trade 2.5k btc total you'll actually make it back.