knotwork: GFC is trying to figure out details for a structured credit default swap in which they will loan 10,000 DVC each to 10,000 people, in four or five tranches. The tranches are to be of four or five different levels of collateral, with 100% being the level that maybe need not be a tracnch, naybe its best to keep the 100%-collateral people to themselves instead of putting them in the structured thing

knotwork: pigeons GRouPcorp is group-oriented, lots of groups not all being small groups adds up to a lot of people, this intial 10,000 is just the first batch, to test out the sructured vehicle idea

knotwork: they could do a smaller test first i suppose, start with the first 1000 people on the waiting list and loan them each 100,000 dvc and see how it goes

knotwork: pigeons also in reality its best not to think of them as people, since really they are basically just pseudonymous identities

knotwork: brokers can perfectly well generate a bunch of identities themselves to include in

knotwork: pigeons if you count this lot I have no idea, there is no way of knowing the average ratio of actual live humans to sock puppet pseudonyms

knotwork: well 10,000 lines up wanting loans, for starters.

knotwork: there are hundreds of people in various subgames that have maybe never played since they signed up too, wanna count idlers too?

knotwork: oh well who counts smickles? hahahaha ;)

knotwork: ok well how many thousands is he alone then? :)

knotwork: part of the function of this structured thing is to try to come up with vehicles that do not care whether their counterparties are one human a billion humans one corp or hundreds of corps etc

knotwork: though I suppose pretending to structure one person into several tranches is maybe a little pointless

knotwork: even if we never know whether all the people one broker represents really exist or are just sockpuppets of the broker the brokers can gain useful info from this about their customers even if they keep everyone else in the dark about whether those customers actually exist at all

knotwork: also if all the customers of a broker default that is useful info to know about that broker

knotwork: future access to various tranches of future runs of the concept could also be contingent on the performance of a broker's customers in previous runs

knotwork: thus some brokers might eat some losses themselves rather than be perceived as a broker who caters to deadbeats

knotwork: or in order to qualify to move up from devcoin based vehicles to litecoin so as to eventually advance to even higher coins