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The 100b bond - 2%, secured by Chribba with 120% collateral - Filled and completed

Author
Umar Umarhabib
Doomheim
#21 - 2012-12-28 15:39:29 UTC  |  Edited by: Umar Umarhabib
I think it's odd too, why would someone use PLEX as collateral for 100 Bil, since 100 Bil worth of PLEX can be liquidated with ease.

PERHAPS...........someone is trying to avoid being investigated by the GM's for something they've done =P
Since RMT websites sell PLEX these days instead of ISK, maybe it's a launder =P

Just speculation
Mohandar Sabezan
Doomheim
#22 - 2013-01-03 12:13:35 UTC
haha he doesnt want GM to investigate him selling many PLEX, but why afraid of investigation?

Twisted
Grendell
Technologies Unlimited
#23 - 2013-01-04 20:55:35 UTC
Interest paid.

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Grendell
Technologies Unlimited
#24 - 2013-01-08 01:16:08 UTC
Fixed a mistake I made with the interest payments on this bond. I was wondering why my books weren't balancing... I missed a zeroLol

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Professional Forum Alt
Doomheim
#25 - 2013-01-26 16:45:56 UTC
First interest payment made

This is Angelica Everstar's alt

Akito Tzestu
Doomheim
#26 - 2013-01-26 18:21:02 UTC
The amount of speculation in these forums ranges from acute trolling to extreme paranoia. It's quite ridiculous to read.

OP made an offer, it's backed by a couple of the biggest names in New Eden, and yet the Market Discussion Truthers still come crawling out from under their rocks with cries of conspiracy.

This bond has been filled. It's not your business, so let it be. There will be another offer posted soon, and you can troll that one.

o7
SinTeryx
Ministry of War
Amarr Empire
#27 - 2013-01-27 02:20:01 UTC  |  Edited by: SinTeryx
Wish these offerings had smaller openings for someone with less than 100bill isk. I would love to invest in something overly collateralized. But yea these 3 have something going on...let me know the next time you open something like this! I will gladly invest...until then I guess it is time for me to boot up my ipod touch and pray to god I get internet service from the mexican restaurant next door and then refresh MD every 30 seconds and await an opportunity like this! Best of luck (not that you need it) with the OP!
-Sin

Edit: Reserving 2 shares@2bill isk if they open up! :P

These may as well be farts in the wind but I have had a few beers since the start of this thread.

Arronicus
State War Academy
Caldari State
#28 - 2013-01-28 00:22:57 UTC
Akito Tzestu wrote:
The amount of speculation in these forums ranges from acute trolling to extreme paranoia. It's quite ridiculous to read.

OP made an offer, it's backed by a couple of the biggest names in New Eden, and yet the Market Discussion Truthers still come crawling out from under their rocks with cries of conspiracy.

This bond has been filled. It's not your business, so let it be. There will be another offer posted soon, and you can troll that one.

o7



The conspiracy theories tend to come crawling out anytime something that doesn't quite seem right, happens. In this case, using something highly liquifiable like plex, as collateral. My assumption, as I cannot see any other rational reason, other than RMT (Which I doubt is the case, you'd have to be foolish to tie up THAT much funds in one RMT laundering... wouldn't you?) is that the creator of this bond wanted to double invest. IE, Invest in plex, then get a loan using that investment as collateral, for another investment. It allows them to invest with almost twice as much isk as they had to start with.

Just seems funny, seeing Chribba holding collat for grendell investing for investors. But hey, why not?
Grendell
Technologies Unlimited
#29 - 2013-02-04 18:09:23 UTC
Interest paid.

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Grendell
Technologies Unlimited
#30 - 2013-02-11 21:32:20 UTC
Squizz Caphinator - 20b has replaced Razor Rocker - 20b

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Candy Oshea
Techfree Investment Group
#31 - 2013-02-12 03:21:56 UTC
Interesting Note:

220 PLEX at the time of the Bond issue - Avg price - 563. = 123,860,000,000
220 PLEX yesterdays - Avg Price - 529 (and on the slide.) = 116,380,000,000

Approx 7.5b in Loss in value. (although ample to cover investors)

123b could have been converted to BPOs, & possibly researched, with no value loss (smart purchasing of BPO's though, no Super/titan BPOs) & OP wouldn't have to worry about loss on value for collateral.

I Hope whoever this loan is for, is making more than (7.5b) + 2b interest payments per month.

iCandy  - I have accidently swallowed some Scrabble tiles, my next shit could spell disaster!

Vaerah Vahrokha
Vahrokh Consulting
#32 - 2013-02-12 08:13:51 UTC
Candy Oshea wrote:

Approx 7.5b in Loss in value. (although ample to cover investors)

123b could have been converted to BPOs, & possibly researched, with no value loss (smart purchasing of BPO's though, no Super/titan BPOs) & OP wouldn't have to worry about loss on value for collateral.

I Hope whoever this loan is for, is making more than (7.5b) + 2b interest payments per month.


I commented on this issue right in this thread.

There are a number of factors concurring into this situation:

1) As someone with direct experience I can tell you that it's not a totally quick task converting lots of PLEX into ISK and vice - versa.
This imposes both sensible in game costs and to spend RL time, something that would make the 2% interest unrealistic.
After all, just do a very quick math about selling all those PLEXes, buying something else, then later on sell the something else and purchase the PLEXes again.
Or buy capital BPOs for that amount, research them and then try liquidating them all in any sensible amount of time.

2) Many times (as I said in the linked comment) people borrow money to hold on speculative collateral they believe to appreciate. Most don't exactly know how to really predict price so they "hope" it'll appreciate. Guess what, it tends to not end well...

3) In general if you want to protect collateral you have to safeguard it with one of several ways: insurance, CDS, active / passive re-investment, hedging...
These things don't come free, they don't fit in 2% interest rate. Plus it's not a given that the Collateral Holder knows or offers those safeguards.
Candy Oshea
Techfree Investment Group
#33 - 2013-02-12 10:43:58 UTC
Could of swung both ways i suppose, it still could. must be lovely to not care either way, and watch people wonder "why"

iCandy  - I have accidently swallowed some Scrabble tiles, my next shit could spell disaster!

Professional Forum Alt
Doomheim
#34 - 2013-02-19 20:06:58 UTC
Repayment of the first half (50b) will happen one of the next days, he just needs to sell off a bit more. The investment is going very well.

Shame I can't say the same about my collateral - lol.
But then again - it's just going back into the pile Big smile

This is Angelica Everstar's alt

Professional Forum Alt
Doomheim
#35 - 2013-02-19 20:07:54 UTC
Of course along with the 2b interest for the full month anyways.

This is Angelica Everstar's alt

Grendell
Technologies Unlimited
#36 - 2013-02-20 20:35:44 UTC
I'll be cashing out 50b worth of investors at the end of the month, as I've received a 50b payment on the debt today.

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Grendell
Technologies Unlimited
#37 - 2013-02-28 22:48:28 UTC
Interest paid.

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Grendell
Technologies Unlimited
#38 - 2013-03-08 00:01:32 UTC

Cecil Archer has requested to cashout, so I've replaced her with deposit money from.
Cecil Archer - 25b - Cashed out!
BringNRain - 25b - Cashed in!

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Professional Forum Alt
Doomheim
#39 - 2013-03-08 11:18:47 UTC
Good news (or bad for some).

The investment has gone very well, and the bond will be closed at the end of the month.
Once I have been fully repaided, I will pass it along to Grendell. Been told about 1-2 weeks

This is Angelica Everstar's alt

Grendell
Technologies Unlimited
#40 - 2013-03-21 23:58:58 UTC
This has been re-paid!

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