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Block Ukx Forge Laboratories	Posted - 2011.03.05 02:02:00 - [1] BSAC Zero Coupon Bond MRBLOCKBOZ15 NEISIN: MRBLOCKBOZ15 Volume: 10,000 Face Value: 1,030,000 Rate: 3 % Maturity: April 9, 2011 We have a new zero coupon bond available selling at 1,000,000 ISK per bond in the BSAC Exchange. At maturity, you will receive interest plus principal (face value), or 1,030,000 ISK per bond. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 02:13:00 - [2] Originally by: Caldariftw123 Curious, what's the bond for? Seems odd to need 10billion isk for 30days given your position. Mostly testing the code. I'm changing some things. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 03:03:00 - [3] It is just an idea I have for testing effective rate of investment. As bond approaches maturity, effective rate increases. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 03:17:00 - [4] Originally by: Zeeawk Could you give me an example of the effective rate increase ? The maturity rate is 3% so how does it increase ? And just as secondary thought couldn't you test the same thing using a simulation with a for loop and no money ? It's a zero cuopon bond, so offer price remains the same 1,000,000 ISK. At maturity you get face value (1,030,000), so the effective rate = 3% * 30 / (number of days from maturity). I can't simulate current market sentiment with a loop. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 03:41:00 - [5] Originally by: Zeeawk Ok ill be the first one to yell SCAM at the risk of being flamed. I won't flame you. Everyone will find out on April 9, 2011. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 04:21:00 - [6] Stop being so dramatic. Everyone knows without a shred of doubt that I will pay back the investors on April 9. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 05:00:00 - [7] I don't think a 100 ISK coupon will be a good test of the current interest rate. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 05:14:00 - [8] Yes, but I beleive 10B will yield a better measure of the "risk-free" interest rate. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 05:26:00 - [9] That's exactly why the 10B will be a good test for the "risk-free" interest rate. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 05:52:00 - [10] Off course everyone knows, even you know very well I will pay back on April 9. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 15:43:00 - [11] I think people are overreacting. There are really two choices here. a)You think is a scam. Please wait till April 9 before you scream scam. I have run many IPOÆs and Bonds in the past and have always paid on time. b)You donÆt think is a scam. You have a choice of buying the bond at a point where the rate you are getting is acceptable for you. The effective interest rate increases as we approach maturity. For this group of investors IÆm trying to gauge the current ôrisk-freeö interest rate. If you donÆt like my reason for this bond, then donÆt invest. We all know investors will be paid back. Date Effective Rates (30-day yield) 3/5/20112.57% 3/6/20112.65% 3/7/20112.73% 3/8/20112.81% 3/9/20112.90% 3/10/20113.00% 3/11/20113.10% 3/12/20113.21% 3/13/20113.33% 3/14/20113.46% 3/15/20113.60% 3/16/20113.75% 3/17/20113.91% 3/18/20114.09% 3/19/20114.29% 3/20/20114.50% 3/21/20114.74% 3/22/20115.00% 3/23/20115.29% 3/24/20115.63% 3/25/20116.00% 3/26/20116.43% 3/27/20116.92% 3/28/20117.50% 3/29/20118.18% 3/30/20119.00% 3/31/201110.00% 4/1/201111.25% 4/2/201112.86% 4/3/201115.00% 4/4/201118.00% 4/5/201122.50% 4/6/201130.00% 4/7/201145.00% 4/8/201190.00% BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.05 18:15:00 - [12] Originally by: RAW23 Ok - I think I understand a little more about the structure now. Is this something like an auction whereby time rather than return is the variable? If so, what sort of use can an issuer put bonds like this to if he doesn't know up front how long he will have the isk for and may end up in a position where he has to payout the full interest for, potentially, holding the isk for a single day? What advantages are there to this structure over a more conventional bond? The bond has a fixed maturity date (April 9). It is sort of like an auction, except bonds have a fixed discount price and a fixed face value, and you can buy the bond at any time (if avilable). Currently 1,343 bonds sold and 8,657 available. This bond is mostly for me to test my idea of gauging the "risk-free" interest rate. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.07 01:36:00 - [13] 5,257 Bonds remaining on a first-come first-serve basis. I forgot to mention that the bond is fully tradable in the Exchange. Best of all, there are no trading fees. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.07 20:04:00 - [14] Originally by: Zeta Zhul 1. You state these are "zero coupon bond"? And yet you state an interest rate? Isn't the term "coupon" related to interest rate? Aren't zero coupon bonds those that don't have a set interest rate? Yes, you are correct. I misused the word rate in the OP. I should have said Interest instead of Rate. I edited the OP to reflect this correction. Originally by: Zeta Zhul Zero coupon bonds are sold at below value and then accrue value over time until they achieve maturity when they finally achieve their listed face value. Bonds are being sold at the discounted price of 1 M ISK. Their face value is 1.03 M ISK. Originally by: Zeta Zhul So for you to sell 1mil isk zero coupon bonds you would have to sell them not at 1mil but below 1mil each. Selling "zero coupon" bonds at face value with a stated interest rate frankly tells me that you don't seem to understand what a "zero coupon" bond is. Bonds are being sold at 1 M ISK, and their face value is 1.03 M ISK. So they are being sold below face value. No need to be hostile. Originally by: Zeta Zhul 2. Why are you trying to calculate the "effective interest rate" of a bond that has a stated interest rate? Since you state the interest rate is 3% ... then isn't the effective interest rate .... 3%? Yes, you are correct. I misused the word Rate in the OP. It should have said Interest instead of Rate. I edited the OP to reflect this correction. The interest rate is then the Interest divided by time. Originally by: Zeta Zhul 3. I'm sorry but an unsecured short term bond with no explanation of a business plan and zero indication on what you're going to do with the money to earn the interest rate doesn't seem to be all that peachy of a deal. I donÆt think it is a bad deal when you are guaranteed to get your ISK plus 3% interest on April 9. Originally by: Zeta Zhul Really. 3%? Unsecured short term bond? No audit? No business plan? Current rate for the Cash Reserve is 3% and is completely full (159 B ISK). It would be illogical to start selling bonds above 3%. Originally by: Zeta Zhul 4. Bonds don't exist within the API or the structure of the eve client. Such investments exist outside of this framework. That is correct. There are no tools in eve to administer a bond of this kind, where the bond is fully tradable in real-time. ThatÆs why this bond is administrated in the BSAC Exchange. Originally by: Zeta Zhul There is zero logical need for 10bil isk worth of bonds to test anything. Don't you have a test/dev/QA copy of your website code? As has been pointed out by other professional software developers there is no practical need for such amounts. IÆm not a financial expert, and IÆm not a professional software developer. There are no testers or dev personnel; it is just me. I do my best to ensure everything is working correctly, but mistakes have happened and there have been errors. Marcus Baltar has done an excellent work catching bugs. I am certain that if there are errors, the bond buyers will let me know right away. You could think of this bond as a 3% interest payback for testing the website. With the current market, I felt that 10 B ISK is good size bond that will allow me get a measure of the ôeffective risk-freeö interest rate. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.07 20:06:00 - [15] Originally by: Zeta Zhul 5. Really this is just incomprehensible... "4/1/2011 11.25% 4/2/2011 12.86% 4/3/2011 15.00% 4/4/2011 18.00% 4/5/2011 22.50% 4/6/2011 30.00% 4/7/2011 45.00% 4/8/2011 90.00%" At purchase time, Effective Rate = 3% * 30 / (number of days to maturity). This assumes you are buying at the discounted price. Originally by: Zeta Zhul What precisely is the logic of giving full interest to a bond sold 1 day prior to maturity? If you're selling the bond would you really give full award of interest on a bond sold 1 day prior to maturity? Would you really sell that bond 1 day prior to maturity? All investors will receive face value independent of trading date. Originally by: Zeta Zhul And if this is to cover third party transactions, then what are you doing getting involved in that? If Brock Nelson, for examples sake, buys 1 of your "zero coupon" bonds and then sells it to me on 4/8/2011 that has absolutely nothing to do with you or your code. Hopefully Brock Nelson would price the value of the bond appropriately when conducting the sale. But when the bond matures and is presented for redemption whether I buy it from Brock Nelson 1 day prior to maturity or 2 weeks prior should have no bearing on your code or your conduct. At redemption as long as the chain of ownership is proven and complete the bond must be redeemed at full value to the appropriate last owner. I think you are misinterpreting the effective rate. It assumes you are buying at the discounted price. Bond holders can trade at what ever price they want, as it would not affect our debt. At maturity we pay 1.03 M ISK per bond. Originally by: Zeta Zhul Nothing you've posted so far has made any sense to me at all. Let see if I can make it simple to understand. 1) Buy bond at discounted price of 1 M ISK. 2) On April 9, you will receive 1.03 M ISK per bond. 5,247 Bonds Left BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.09 00:56:00 - [16] Yes, development and testing (by me) takes place on a different location. One thing that you have overlooked is that testing my idea of gauging the ôrisk-freeö interest rate requires live participants as no code can simulate the mood of the investment environment. 5,082 Bonds Available BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.09 03:32:00 - [17] Originally by: Companion Qube Putting any of your history aside... I think almost five years in the secondary market speaks for itself. Don't forget, this is not my first bond. All previous bonds have been paid on time. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.10 01:51:00 - [18] Since the effective rate varies depending on the number of days to maturity, we want to calculate the weight average rate for this Bond, defined as: <R30> = Sum [ 3% * 30 * V(di) / di ] / Sum [V(di)], where the sum is over i and di is the number of days to maturity V(di) is the volume purchased at di As of today <R30> = 2.58 % About half the bond still available, so it will be interesting to see how will <R30> evolve in time. 5,072 Bonds Available BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.10 02:39:00 - [19] Originally by: Breaker77 Where are the real people interested in this? Real People trade in the BSAC Stock Exchange. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.10 19:51:00 - [20] First people attack my integrity, now is my posting style and my English. WhatÆs next, my ethnicity? Perhaps my short posting is due to the hostility towards BSAC. I donÆt mind critics and I do appreciate constructive comments, but it gets tiring to continue reading comments like: ôSurely you are not that disorganizedö ôOk ill be the first one to yell SCAMö ôGood grief, you must be joking!ö ôReputation counts for nothingö ôpathetic, truly patheticö ôGive it up, Block. You're doing yourself a disserviceö ômost stupid reason I have yet to see in MDö ôrunning a huge ponzi schemeö ôfrankly tells me that you don't seem to understandö ômy gut instinct on an offer like this says that it's a scamö ôit may be worth passing explanations through a native speaker before posting themö @VV You are assuming that peoplesÆ investments can be model with a Gaussian distribution. So far, the data I have collected suggests that the investment profile cannot be fitted using a Gaussian. My goal is to use <R30> as a measure of future interest rates. PS IÆm sorry if you canÆt understand my English. My translator is broken and the ônative speakerö is out of town. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.10 20:48:00 - [21] Originally by: Block Ukx ôSurely you are not that disorganizedö ôOk ill be the first one to yell SCAMö ôGood grief, you must be joking!ö ôReputation counts for nothingö ôpathetic, truly patheticö ôGive it up, Block. You're doing yourself a disserviceö ômost stupid reason I have yet to see in MDö ôrunning a huge ponzi schemeö ôfrankly tells me that you don't seem to understandö ômy gut instinct on an offer like this says that it's a scamö ôit may be worth passing explanations through a native speaker before posting themö So poor explanations on my part deserve this type of response? BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.10 21:37:00 - [22] Edited by: Block Ukx on 10/03/2011 21:38:49 Originally by: RAW23 Edited by: RAW23 on 10/03/2011 21:10:22 Originally by: Block Ukx Originally by: RAW23 it may be worth passing explanations through a native speaker before posting them So poor explanations on my part deserve this type of response? That last one, yes, although it's not a case of you 'deserving' it. It was meant to be a constructive suggestion. I see. So, only native speakers can communicate flawlessly. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.10 21:58:00 - [23] Originally by: RAW23 Just get someone who is better than you to help. Yes, and according to you a native speaker is better than me. According to you, a native speaker can communicate more effectively than a non-native speaker. This type of discrimination practice is not tolerated in the US. Should I get a native UK speaker or a native US speaker? BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.10 22:55:00 - [24] Originally by: RAW23 However, it may be worth passing explanations through a native speaker before posting them, where possible, in order to avoid miscommunication. Well, apparently you donÆt seem to understand what IÆm posting. It must be that IÆm not using a native speaker. Please, could someone translate for me? Some forms of discrimination are very subtle. Your implication that I should get a native speaker because he will be better at expressing my point is considered a discriminatory practice. Yes, very subtle, but discriminatory nonetheless. @CCP, I hope you are reading this and take some action. The last thing you want is to condone such practice, particularly in a game that is played by people of all different ethnical backgrounds. I donÆt know in Iceland, but in the US, this is consider discrimination. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.10 23:09:00 - [25] Originally by: RAW23 Originally by: Block Ukx Originally by: RAW23 However, it may be worth passing explanations through a native speaker before posting them, where possible, in order to avoid miscommunication. Well, apparently you donÆt seem to understand what IÆm posting. It must be that IÆm not using a native speaker. Please, could someone translate for me? Some forms of discrimination are very subtle. Your implication that I should get a native speaker because he will be better at expressing my point is considered a discriminatory practice. Yes, very subtle, but discriminatory nonetheless. @CCP, I hope you are reading this and take some action. The last thing you want is to condone such practice, particularly in a game that is played by people of all different ethnical backgrounds. I donÆt know in Iceland, but in the US, this is consider discrimination. Heh - you should have held back a little. Obvious troll is obvious. No, I am very serious about it, and I hope you get a temporary ban. Discriminatory practices should not be tolerated anywhere. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.11 01:35:00 - [26] Imagine the following situation. Two people apply to the same job. One is a native speaker and the other one is not. If the company hires the native speaker under the assumption that ônative speakers are better at communicatingö instead of based on their ability to write, it would be considered racism. RawÆs comment that I should find a native speaker so I can better communicate is nothing more than a form of discrimination. He is assuming that a native speaker will be better at communicating. It is interesting how people are willing to tolerate this form of discrimination. It is not that I suck at communicating; it is the fact that he thinks I should look for a native speaker so I can express myself that is disgusting. It does not take a rocket scientist to figure out what is going on. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.11 02:10:00 - [27] Originally by: Khanid Voltar Raw was suggesting that some of the miscommunication problems that are rife in your threads could be resolved by you consulting with a native english speaker first. Could you imagine ccp saying, hey this forum is in English, so all non-native English speakers please consult with a native English-speaker so we avoid miscommunications. OR, Please find a native English-speaker so we can understand your petition. OR, Non-native English speakers applying to the CSM please consult with a native English-speaker so we avoid miscommunications. Do you really think that a non-native English speaker will feel welcome in a forum where people told them to consult with a native English speaker so they can be understood? BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.12 01:51:00 - [28] R30 = 3.21% 5,037 Bonds Available BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.13 00:44:00 - [29] R30 = 3.33% 5,036 Bonds Available Don't forget to "spring forward" your clocks tonight. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.15 00:12:00 - [30] R30 = 3.60% 2,436 Bonds Available Yes, deposits are checked via API every 6 hrs, and I have been sending account login information about every other day. I will update the information in the website to reflect the recent changes. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.16 01:34:00 - [31] R30 = 3.75% 2,386 Bonds Available Yes, I still need to update the website. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.17 01:57:00 - [32] R30 = 3.91% 2,348 Bonds Available BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.18 00:49:00 - [33] R30 = 4.09% 2,348 Bonds Available BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.21 15:33:00 - [34] R30 = 4.29% 2,228 Bonds Available BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.23 01:54:00 - [35] R30 = 5.29% 2,228 Bonds Available BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.23 23:42:00 - [36] Yes, interest is fixed at 3%, and maturity is also fixed; April 9. However, the interest rate is variable. R30 refers to the 30Day effective interest rate, given by effective rate (R30) = 3% * 30 / (number of days to maturity). This assumes you are buying at the discounted price. R30 is useful for comparing different investment instruments. I am advertising the effective interest rate R30. BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.25 02:04:00 - [37] R30 = 6.00% 777 Bonds Available BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.25 23:35:00 - [38] R30 = 6.43% 777 Bonds Available BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.03.27 02:32:00 - [39] Bond Filled <R30> = 3.53 % <R30> is the weight average R30 BSAC Stock Exchange - EVE's only real-time stock exchange
Block Ukx Forge Laboratories	Posted - 2011.04.10 02:16:00 - [40] DEBT PAID Principal: 10,000,000,000 ISK Interest: 300,000,000 ISK Bond Details BSAC Zero Coupon Bond MRBLOCKBOZ15 NEISIN: MRBLOCKBOZ15 Volume: 10,000 Face Value: 1,030,000 Interest: 3 % Maturity: April 9, 2011 <R30> = 3.53 % More Bonds coming soon BSAC Stock Exchange - EVE's only real-time stock exchange

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