Dec 07, 2015
GreenPoint s are what have always been - no promise token, worth only a coupon (10% discount) on any of my services.
The holder accounts as of this moment have already qualified for any share drop (Highly unlikely but yes, if you account had any Greenpoint in the last 24 h before this post, you are in)
In the future I might not be checking my PM or this thread very often... so if you do not sell now... just place an sell order at 1005.00 BTS/GP and I will buy them back as soon as I see the order.(might be weeks if you do not act in the next 7-10 days)
Thanks, everyone.
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GreenPoint are being bought back. The Project is canceled.
Go to the GreenPoint /BTS market in the BTS DEX and get your money back. Price is slightly above par, i.e. little bit over 1000 BTS/GreenPoint.
Thanks.
TK
** Anyone particularly sensitive to bad English grammar, spelling and things of that nature, should give up right now and save herself the trouble and effort of continuing!
As the tradition of BTS goes, we are making pre-announcement of the announcement
So this is more or less something for review and input from the community [The harsher the better! – The moto is “if you can beat tonyk in that regard – just go for it!”] , before the official announcement. Other than that, I envision it as a somewhat of a marketing research before the official thing.
1. The first personal loan on the BTS blockchain
I intend to be the first person to take a personal loan on the BTS platform :
– The purpose of the loan (as in money obtained) is well… personal. But I do intend to share some of the ideas what the money will be used for [some more on it later in p.2 - the greenies part]. Some smaller percentage will definitely go into trading on the BTS DEX, will be invested in a project or few on the DEX exchange, and will be used for trading BTS on centralized exchanges.
- An additional goal by trying to take this loan is too see what is the interest in such a ‘product’. Namely P2P loans - granted without advertising outside of the community and only getting info on the people’s willingness to lend [and not borrow].
- It will be a personal loan, so the only thing backing the loan is street credit [or lack thereof] . In particular the street credit I personally have around here, or don’t.
- The loan will be denominated in BTS. The reasons are two fold –One, I do believe people in this community do not want to lend money in say bitUSD and lose on the possible appreciation of BTS during the duration of the loan, even for a generally good return. The second one is … well, the rate I am about to offer is orders of magnitude more than what I can get on fiat USD… Granted with my actual credit not the street one, but still.
- The duration of the loan I am currently considering is 12 [or 18mo] – input on that is welcomed as well.
- The interest rate - 25% per annum.
- The loan amount – up to the equivalent of 15K-30K USD.
Other info:
- The proposed loan will have a clause that if a certain percent of the loan financing is not achieved, the loan will be considered not started and canceled, all money received, will be returned to the would be lenders immediately, generally with no or small return, compensating them for fees inured.
- This loan will have the option to be prepaid before the loan period has passed. [In other words this will be a loan with no pre-payment penalty] – In this and all other regards, I will try to make all the terms of this loan as close as possible to the regular personal loans and / or P2P loans. Some limitations and or inconveniences on that are expected, due to the blockchain and/or BTS DEX limitations.
Technical details:
This is how I see it working as of now. This is not final and any input here will be highly appreciated!!!
* The following example uses 12 mo., 1.2 Mil BTS loan with an interest rate of 26% (annual rate); an IOU [called LoanT] worth 1000 BTS face value (also referred as at par, later on).
- A certain amount of LoanT will be issued. The amount will be equal to the max loan amount sought. In this example this means 1200 LoanT issuance.
- These IOUs will be offered at par for sell for say 7 days. A sell order for 1200 loanTs will be placed in the DEX @ 1000 BTS pet LoanT.
After those 7 days, if enough loanTs are sold, the loan will be considered “originated” and regular repayments of the loan will start.[If the loan is not “originated”, an attempt will be made so that all would be lenders be compensated for the fees incurred ,plus with something extra for the effort]
- Each week during the next 52 weeks, a minimum of 1/52 of all of the loanTs sold will be bought back at price equal the par value, plus the interest on those loanTs up to that moment:
in week# 1 min 23.08 loanT will be bought (or attempted to be) @ 1005 BTS; [1000 BTS par value + 1/52*26% interest].
in week# 2 min 23.08 loanT will be bought (or attempted to be bought) @ 1010 BTS; [1000 BTS par value + 2/52*26% interest].
In week 3 the same and so on till week 52.
- The buyback will be achieved by placing a market buy order with the price specified [and announced in advance even though the price is trivial to calculate] for the amount specified [aka @1005 BTS/LoanT for week one] ; alternative ways to sell the loanTs, for the convenience of the landers, are in the works as well - any of those method -the basic or the alternatives per borrowers discretion will be enough to satisfy the promise of regular minimal weekly repayment of the loan .
That is all about it about “ the loan”, I think.
If I have forgotten something feel free to ask!
2.0 GreenPoints – “Your green light to life”
You have probably guessed it by now, GreenPoints are my personal tokens. For the most parts they are no obligation, no promise tokens. The only promise I do make is if/when one uses them as a coupon for a service I might offer in the future or as a payments to me – In such cases I do promise to make a 10 % discount on any payment denominated in BTS [or denominated in anything else if we can agree on fair said thing/BTS price]. Example, say I am offering ‘v 0.x.x wallet recovery services at 1000 BTS/h. Paying me GPs equivalent to 900BTS /h will be fulfilling your promise to pay @ 1000 BTS/h, even if did not specify taking GreenPoins as a payment and or offering discount for taking them.
Other distinctions between GreenPoints [ GP], and other noticeable UIA is my take on life. And my tokens have similar behavior as a consequence of it – First, I do try for the positive attitude even it is not always obvious – Instead of “karma is a bitch”, I try to think about life as a “green light to do great things”. Also I do not limit GP to just people that I like. Even further, I have no need anyone showing me docile behavior in order to consider him/her worthy of GreenPoints. To say nothing about me not even considering I can block someone’s account and/or take the GPs back for not showing enough obedience.
Other thing that I will try my best to do [no promises here] for GP is to put as much as possible real value behind GreenPoints. Some of the details follow.
Some of the plans I (and we) have are somewhat clear from the first part of this post. It will be a software we produce (wallet of kinds) specifically tailored towards giving a chance to everyone to use BTS as a P2P lending /borrowing tool. And what is best, imho, BTS can do that without any particular company or structure organizing the process. There is also one more BTS related project I am actively pursuing, besides the P2P lending. Those are plans that might or might not come to fruition. But if they do I promise to make my best, so that GreenPoint holders are on the top of the list, in receiving benefits. [It might not be a sharedrop exactly, as the current plans are for brick and mortar ventures, but I hope the rewards will be well worth it, and even better than the share drop value].
Actually, I am willing to go a step further – Not only current GP holders, but also account who have a GP holding as of the day before announcing the actual issuance of the loan described above], will be the main “beneficiaries”.
Other benefits of GS – not a promise once again, but something I totally plan on doing [in connection with the personal loan described in point 1]
– The loanTs will be offered to GP holders at 900 BTS equivalent in GPs/LoanT ,not at 1000 BTS/LoanT … but you probable expected this by now, the 10% discount on anything I am selling remember?
-For the convenience of the lenders we would offer a second way to repurchase the loanTs (i.e. repay the loan). The idea is this to be done by sending the loanTs to special account at any point in time. A bit of sidetrack here – In order to get priority in the repurchase in the open market in the DEX, the party willing to sell its LoanTs fast must place an order slightly below the max expected return. Let’s say in week one - they will have to put a buy LoanT @ 1004.95 instead of the max offered that week @1005 BTS/loanT. Much the same way, we envision the special account to work. One sends say 100 loanT during week #1 to that account. In order to gain priority he/she as well send 505 BTS [ending at the same discount as if they placed in the DEX a market order @ 1004.95]. This all well and good, only for people that send GP instead of BTS for that purpose 1GP worth of value, will have 3x weight compared to sending BTS.
PS
Other than asking anything related to this post, and or comments, suggestion, criticism and such, please also state if you are interested in buying GreenPoints at par. [Current idea is to set the par @ 1000BTS per 1 GreenPoint ]. Simple ‘interested in buying GP’ will suffice. If we see enough interest we will indeed list them for sale before doing anything else. Ohh and one more last promise, amongst the many non-promises. If we do end up listing the GreenPoints and we do not proceeding with any of the other plans (loan and stuff) I will buy Those GreenPoints back at par plus 2 * the BTS order fee per every 1000 of BTS equivalent. [aka you will be compensated for all fees with a min. of 1000 purchase, and make something extra BTS for bigger GP buys.]
Cheer, to all that got so far down the text, with no cheating.
Yours Truly,
TonyK
Topic: [ANN] GreenPoints buy back. Project canceled (Read 9710 times)
