Announcing the first Loan via bitshares. “CONSTRUCTION” token.

My brother in law is a civil engineer in Ioannina city – Greece. He has recently undertaken the reconstruction of a pedestrian road in his city due to be completed within 14 - 15 months. Unfortunately the way the Greek system works is that he has to pay first from his own pocket, complete portions of the construction and then he gets paid by the municipality of Ioannina city. This has cash flow implications. In addition the Greek banks do not lend anymore any loans, even in this case that he is guaranteed to get paid by the municipality of Ioannina. The funding for the completion of the construction is secured throughout the duration of the project from the annual budgeted municipal expenses.

The approved budget for the project is 150,000 euros. Due to the cash flow difficulties mentioned above we have created in bitshares the “CONSTRUCTION” token. Max targeted amount to be raised is $10,000.

You can purchase “CONSTRUCTION” until 15th October at the price $1 each. After this date “CONSTRUCTION” tokens will not be available for sale.

https://bitshares.openledger.info/#/market/CONSTRUCTION_USD

I will be managing the “CONSTRUCTION” funding and will buyback  all the sold tokens as per the below schedule.
Date           % of sold tokens bought back                Buy Back price
1-Jan-17                                   2%                                             1.02
1-Feb-17                            2%                                             1.02
1-Mar-17                           2%                                             1.02
1-Apr-17                                   2%                                             1.02
1-May-17                           2%                                             1.03
1-Jun-17                                   2%                                             1.03
1-Jul-17                                   2%                                             1.03
1-Aug-17                           2%                                             1.04
1-Sep-17                                   2%                                             1.04
1-Oct-17                                   2%                                             1.04
1-Nov-17                           2%                                             1.05
1-Dec-17                                   2%                                             1.05
1-Jan-18                                 76%                                             1.11

I understand that some people may want to exit their investment earlier so on the basis of first come first served they may be able to exit earning smaller return on their investment. It goes without saying, if there is no demand to buy back earlier the tokens, any remaining tokens each month will move to the buy back order of next month. Some people may exit earlier earning 2%-5% but those who exit upon expiry of the term will receive 11% on their investment. If during the project, there is no cash flow issue anymore, we will buy back all the tokens at $1.11 on an earlier date and repay the full loan.

I understand that this is based purely on trust and that I will repay the loan. As most people know, I am a long term bitshares investor from the very beginning and I do not intend to scam anyone and hurt my reputation.

This should be considered a secure investment of your bitusd with high return up to 11%. Your support will be greatly appreciated!

Please let me know if you have any questions or anything is unclear.

Thank you very much
mf-tzo

Guys, I just posted that on steemit https://steemit.com/bitshares/@mf-tzo/proposal-to-reward-bitassets-holders-with-interest

Please share your thoughts here or preferably on steemit (anything I earn from steem goes back to buying bts..I am a bts fun to the end).

In short the proposal is to sell a very small part of the bts reserve pool to accumulate enough for i.e. 10% interest for 1 year in the form of OPEN.xxx for the respective bit.xxx assets holdings. With very few funds from the reserve we can accomplish so much..

Interest on deposits is a necessity for our DEX especially in the current negative interest environment.. 

I was wondering..and this just came to my mind so ....

Is it possible to make a small fancy device like a bracelet or even monitoring this via a mobile?

The idea is for every 1km one person makes which is monitored by his mobile, or bitshares bracelet he is rewarded with i,e 5bts.

The average person I would guess  makes 2-4km per day i.e. he would earn 10-20 bts per day i.e. 3,650 - 7,300 bts per year just to walk / run and  monitoring this via his device. The device or the service can have a cost of $50 so essentially after 1 year the person will be getting back his $50 investment just by monitoring his exercise.

I think that something like that could be a huge marketing for bitshares! "Earn bitshares by doing exercise" etc..

The question is what happens after the $50 worth of bitshares are taken by the person after 1 yea?
I think that a worker proposal supporting this would be beneficial for bitshares. Essentially you hook people into bitshares ecosystem by doing exercise and get rewarded. The customer pays in advance his $50 dollars worth of bitshares sufficient for  year and the DAC will need to pay the customer $50 per annum just to keep him up using the service. These $50 spent per annum per person per year are I think marketing money well spent.

Thoughts?
 
 

I am looking at cryptofresh open buy bitassets orders in all bitassets and they look really funny and must be obviously wrong.. millions of bts to be sold for bitassets..lol..

Maybe we should contact zerohedge about bitgold?

http://www.zerohedge.com/news/2016-02-03/guest-post-how-blockchain-and-gold-can-work-together

http://www.imf.org/external/pubs/ft/sdn/2016/sdn1603.pdf

I don't understand, why all the exciting projects like OpenPOS, Obits, metafees etc in bitshares want to raise xx$ but price their tokens in bts and not only to bitusd? Raising bts may never be enough if bts keeps falling down or dumped by a whale like it happened today.

Why you guys don't simply request only bitusd? This will give you the funding required and will not have a negative effect on bts price. Not that the $19k that OPENPOS are requiring will have any negative effect but just saying.. Raising bitusd supports bitshares in the same time since people put bts collateral to borrow bitusd and you don't dump any bts..