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Kwint Sommer
Lothian Quay Industries
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Posted - 2008.04.09 16:30:00 -
[1]
 Originally by: Selene D'Celeste
Originally by: MilowFV
it might be hard to follow from the top, but to check all you have to do is add from the bottom ignoring the percent they bid and just looking at the amout of the bond they are buying. Once you get to the total you can check what interest that person was at and that is the interest rate for the bond. Would work the same way for an IPO also.
Nice idea, but when you have a 20b IPO or Bond, and 15 people bidding on 200m-3b blocks spanning multiple pages, it becomes a mess. This isn't an idea-killing issue, but it would be that much more fantastic if it were designed to make assessment of the current state of bids easily discernible.
What we need is a little web applet in which everyone can place their bids and it lists those accepted from high to low. EBANK was saying they want to help facilitate bond sales right? Well this seems like the perfect thing for them.
As to why I did this, remember PP's thread asking what people would accept as a minimum bond value? Well, I'm conducting my own poll.  Anyone care to speculate on what the final value will be?
Purchasing and Shipping Moon Minerals |
Kwint Sommer
Lothian Quay Industries
|
Posted - 2008.04.09 21:58:00 -
[2]
Shar, even though everyone may bid a different rate, in the end they all get the same rate. Read the example in the wikipedia article I linked to. That makes it a lot more manageable and theoretically makes for more competitive bidding.
Really the only work is figuring out what is the highest accepted interest rate and a simple web applet could handle that. Hint, hint EBANK.
Purchasing and Shipping Moon Minerals |
Kwint Sommer
Lothian Quay Industries
|
Posted - 2008.04.09 23:34:00 -
[3]
If I were ever to do a large public venture using this system, here's what I would do:
1) setup a web applet where everyone enters their bids, it has a link to the history and shows the currently accepted bids from highest to lowest interest rate and the current rate
2) the accepted bids are the set of lowest bids that will cover the total capital sought
3) the current rate is the highest rate of the accepted bids, whatever this is when the auction ends is what every accepted bid will get, regardless of what rate they bid
4) if I'm doing it all in one big offer,
I'll just issue bonds like usual
if it may have multiple issues,
I'll issue bonds based on what they should get so if there's a 90-day bond at 20% a 100M investor would get 120 shares and if I made an additional offer 30 days later they would be 60-day bonds and a 100M investor at 12% would get 112 shares in the same company. They would both get paid out via shares at the end of the term.
That should make for a pretty simple system to administer plus the investors will have shares they can trade which should make long-term bonds (the kind that payout at the end) more appealing.
Purchasing and Shipping Moon Minerals |
Kwint Sommer
Lothian Quay Industries
|
Posted - 2008.04.10 02:56:00 -
[4]
Originally by: TheVad
Now if we could only rally behind a CSM candidate who...has vision on what improvements can be made to the industrial and market aspects of the game....
Honestly, we need to answer that question for ourselves before we start asking candidates what they're going to do. We've had some discussion about it but I don't recall seeing a spectacular solution to the lack of high-end industrial content. Having NPC's auction off some more T2 BPO's would be nice but by no means a complete solution....
Purchasing and Shipping Moon Minerals |
Kwint Sommer
Lothian Quay Industries
|
Posted - 2008.04.10 14:57:00 -
[5]
Originally by: TheVad
P.S> To prevent ninja bidding, some rules would need to be put in place until you can get something like an eBay like auto bid system where a bidder can auto set lowest bid amounts (in this case interest rates) so that they can auto bid when off line.
Just add a sniper rule, the auction doesn't end until 2 minutes or whatever after the last bid. This can be abused but incidents are pretty rare in my experience.
Purchasing and Shipping Moon Minerals |
Kwint Sommer
Lothian Quay Industries
|
Posted - 2008.04.12 06:47:00 -
[6]
Originally by: Mirirar
This is the method that Google used when it went public.
I want to say they used some sort of variation on a Dutch Auction, OpenIPO maybe?
Purchasing and Shipping Moon Minerals |
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