Россиянам назвали крайний срок оплаты ЖКУ за февраль

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In real systems we do need to be a bit careful to ensure that the key K is chosen honestly and at random, to avoid a user duplicating another user’s key or doing something tricky. Often real-world issuance protocols will have K chosen jointly by the Issuer and User, but this is a bit too technically deep for a blog post.

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Ritter’s research shows that underpricing is de rigueur in IPOs, and on average, the shares jump 19% over what the chosen institutions paid by the end of the first trading day. “The ability to give their clients underpriced shares is worth a lot more than the 2% fees,” says Ritter. Were SpaceX to leap that average of 19% on day one, Wall Street’s customers would pocked a one-day, paper gain of $9.5 billion. The initial investors got their shares due to their status as the firms’ largest, commission-paying trading customers. In exchange for winning the super-cheat shares, says Ritter, they typically rebate about 30% of the one-day gain to the book runners who anointed them in future business. In SpaceX’s case, then, the two or three lead book runners would collect an extra nearly $3 billion (30% of the roughly $9.5 billion windfall). Let’s assume three lead underwriters. Each would garner a total as high as $120 million in fees, and another $1 billion courtesy of the super-discount pricing, for a total of almost $1.1 billion.

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He said changing the clocks causes "all types of problems," from children and their parents losing sleep, to dogs getting up at the wrong time, to more car accidents.