Signed Document at GLBSE (2011)

Historical Note: This document describes the original 2011 offering on GLBSE. The current $DAEMON token on Solana is a tribute to this project and does not confer the same rights. It is a cultural homage, not a financial instrument.

General Information:
OFFERED: 10,000 Bitcoin Interest Rights (BIRs) in the thoroughbred racehorse named “Satoshi's Daemon.” The horse was owned 100% by Evans Thoroughbred Racing LLC and Timothy Skarecky.

This is the official offering document and bylaws for BIRs. All updates were posted on www.satoshisdaemon.com. Questions were directed to: admin@satoshisdaemon.com.

Summary: The horse was purchased for ~$10,000 (at $5/BTC) using a mix of USD and BTC. Ownership was split 50/50. No equity was offered to the public.

“Bitcoin Interest Rights” (BIRs) were issued as follows:

5,000 BIRs → Evans Thoroughbred Racing LLC
5,000 BIRs → Timothy Skarecky
500 BIRs (5%) offered publicly on GLBSE under ticker SATOSHISDAEMON.HORSE

The total supply was fixed at 10,000 BIRs — no dilution possible.

BIR holders had NO:

Ownership of the horse
Voting or decision-making rights
Claim to USD prize money (all winnings went to owners in USD)
Liability for costs (training, vet, taxes, etc.)

BIR holders received:
BTC dividends from the owners’ personal holdings, based on:

Racing Dividends: Paid after races (Win/Place/Show tiers)
Sale Dividends: Paid if the horse was sold or claimed

A dedicated BTC address (e.g., 1Daemon...) was funded 24h before events.

Risks included: Bitcoin volatility, horse injury, owner dependency, GLBSE exchange risk, and lack of audits.

For full historical context, see the original discussion on BitcoinTalk.