"Trival" amounts are doubled when you use 2FA.
I'll echo Burnside here: You don't want security?



You are charged exact network fees for your withdraw. However, the system reserves a larger amount in case the fees are bigger than normal.

Total dividends of 0.69758089 will be paid this week.

This is about 0.00279032 per share with an instant annual dividend yield of 7.45%

The price of bASIC-MINING has exploded with the addition of 4 BFL 60GH/s ASIC devices. More mining devices are one the way.


The price of Cognitive has exploded with the addition of 2 Avalon ASIC devices. More devices are on the way

Nasty is dipped slightly, but still expecting additional BFL devices.

GMP is still waiting on their trade-in Avalon.

This has caused the NAV per share to increase to BTC1.95

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Future Outlook - My guess as to what's to come.

Creativex is doing a fantastic job with bASIC-MINING. Right now he is traveling to pick up a BFL mini-rig which will effectively double the hash power of bASIC-MINING. This is a stock only transaction. So there will be some dilution of dividends but the hash power more then makes up for it. Plus, bASIC-MINING still hash tons of BTC to purchase additional equipment.

Garret is doing what he can to get ASIC devices in.
Also using stock only transaction, he acquired 2 Avalons with a third on the way. And we are still waiting on BFL to deliver the original 60GH/s devices.

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MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

Well, if anyone really wants to know (and because it will embarrass creativex, plus I can get away with it because he's traveling right now) here are the numbers in his local fiat (USD):

10000 shares * BTC0.71393 (24hr avg share prices) * ~$92 (24hr avg Gox) = $661,838.80

This number does not include any dividends that holding 20% of the virtual stock would give him.

I'd say he's done a great job for less than a year's work.

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LOL 

First, great work on the additional units. OgNasty had to strip off the cases of the BLFs for additional cooling. Also, naked devices make for great mining rig pr0n. 
If you decide to take off the cases, watch out: it's sharp.



I suggest throwing a slice at Horrible Horrendous Terrible Tremendous mining pool.

After thinking it over.... nah, I really think it's worth doing this time.

Total dividends of 0.55283631 will be paid this week.

This is about 0.00240364 per share with an instant annual dividend yield of 10.23%

Most of our underlying assets are remaining steady while bASIC-MINING has continued to rise on news of adding a third Avalon device.

This has caused the NAV per share to increase to BTC1.22

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Future Outlook - My guess as to what's to come.

bASIC-MINING has added yet another Avalon to their ASIC Armada. This brings them up to three and will also bring up our dividends.
Cognitive announced a plan to acquire 2 Avalons in exchange for offering shares. Garret knows that Cognitive desperately needs help, since they are still waiting on BFL.
GMP, we are waiting for your ASIC.

I added the "instant annual dividend yield" to the Dividends section on the spreadsheet. You can check back from time-to-time and watch it start from 0% and go up as dividends are collected during the week.

It looks like our own motion to change the asset contract to allow additional asset classes will fail. I take responsibility for not fully conveying the ideas covered in the motion and not spreading the word enough.
Perhaps we can bring up the idea again at a later date. And I hope that more shareholders will vote. This is your BTC, you have a say in how well we can diversify it.

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MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

I'll have to look into this next time.



This is unusual.

Well, in the future, I'll be sure to post "News" items about motions on both exchanges. The "news" item on btct.co makes a new email. This is why I have never used that feature (because I feel like I would be spamming).



Well, aside from this most recent voting snafu. Thanks for the kind words.

The fee is user configurable (when you setup the P2Pool node) and can be set to whatever you want (even 0).
The fee is sent to the P2Pool developer's (forrestv) BTC address.

Wow... with about 24 hours left in the current motion vote, only 64 out of 230 votes have been counted.

Obviously I have let down the shareholders in communication somewhere.

I need your help. How can I reach more shareholder so that they know they can vote? I am not particularly fond of the "news" feature that btct.co has. Some asset managers like to spam with it. Besides, the motion itself sent an email to all shareholders (or it should have). Did you receive it the motion email?

What else could I have done to get more share holders to vote?

It's true, all of our underlying assets had ASIC pre-orders since MiningCo.ETF's inception. But that is not entirely the reason of why those assets were included in the fund. It is because they were shown to have stability, and a proven track record of timely dividends.
This will continue to be the number one selection criteria for this fund. As such, most (if not all) brand new mining assets will automatically be excluded until they produce dividends, and show that they can continue to produce dividends. This conservative nature of MiningCo.ETF helps it avoid most of the drama surrounding new assets.


You don't get why the motion was brought up? Or what the changes of the motion are?
If the language of the motion is confusing, then please refer to the motion summary. The motion summary explains all the changes proposed.



As explained in one of my previous posts, Nasty Fans (originally Nasty MINING) restructured how it operates and no longer states that "mining equipment is owned by the shareholders."

 Whoops! 

I got the day and month backwards. Fixed.  Thanks.

Total dividends of 0.3916489 will be paid this week.

This is about 0.00170282 per share with an instant annual dividend yield of 7.32%


All assets have risen dramatically (except GMP) since the ASIC devices have shown up in our underlying stocks (except GMP and Cognitive).

This has caused the NAV per share to increase to BTC1.21


A Motion has opened for MiningCo.ETF. Please read carefully and vote.

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Future Outlook - My guess as to what's to come.

Nasty Fans just got a major shipment of BFL ASIC devices. This should help our dividends for next week.
GMP and Cognitive are still waiting for ASIC deliveries. "Soon," I guess.

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MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

Everyone please comment on proposed Motion text (below).

Bitfunder shareholders: After asking in #bitfunder IRC, I found out that Bitfunder does not have the capability for me to submit a Motion. However, if you would like to send a Bitcoin Signed message (signed with your public BTC address used in the public Bitfunder Asset list) with your vote and PM it to me, that will have to do.
The majority of the Bitfunder votes will determine how the "escrow" account votes.

The motion will be up for vote on btct.co when I do my weekly dividend update.




Split will be on hold for now.





Thanks for the kind words.
And if anyone really wants to buy me a beer, send BTC to my personal btct.co account: Carnth
I'll take "high quality" beer suggestions too. Most votes=the beer I get.



I'll get my crack team of developers on that. But first, I'll need a crack team of developers.

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Motion to change the asset contract.

Motion summary:
Removal of the clauses that requires mining equipment to be owned by the shareholders, but require that underlying assets have and maintian a growth/reinvestment fund.
This will allow the inclusion of additional mining assets into the fund.
Enhanced HTML formatting will allow for easier readability by adding bold, italics, and proper word-wrapping.

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Motion Changes:

Change this sentence from the paragraph "Summary"
From: "MININGCO.ETF is an Exchange Traded Fund that holds assets that are invested in mining Bitcoins where mining equipment is owned by the shareholders."

To: "MININGCO.ETF is an Exchange Traded Fund that holds assets that are invested in mining Bitcoins."

--

Change this sentence from "Assets to be included,"
From: "Only mining assets where equipment is owned by the shareholders will be included in the fund."

To: "Only mining assets where a growth or reinvestment clause will be included in the fund."
--

Change this sentence from the "Executive Summary" on the asset details page
From: "Only mining companies where the shareholders own the equipment are included."

To: "Only mining assets where a growth or reinvestment clause will be included."

--

Change this sentence from the the "Business Description"
From: "Only mining assets where equipment is owned by the shareholders will be included in the fund."

To: "Only mining assets where a growth or reinvestment clause will be included in the fund."

--

Allow the asset contract to be updated with enhanced html formatting, a feature of BTC-TC that was implemented after this asset was created.

Excellent. This is good news.

Just a few weird display errors on crpytocoincharts.info:
BTC/USD shows price as BTC (instead of USD)
LTC/USD shows price as BTC (instead of USD)
BTC/EUR shows price as BTC (instead of EUR)
NMC/USD shows price as BTC ....... ..... etc. etc. etc.

Just because it's now at 4.5+ BTC for every share that we have? It's doing marginal at best.



 



<personal opinion>BTW, I still think we should send "some love" to HHTT mining pool. They've been getting slightly over 1 block per day.
And hey.. it's fireduck!

After thinking it over: Maybe that is still too much variance since you pay divs daily.

Yes! 

Thanks for all the feedback.

It has been decided: I will be raising a motion to change the contract to allow funds that have a growth/reinvestment plan.

I will be working on the wording of the motion to change the contract and put it up as soon as possible.

There may be a little snafu involved with the Bitfunder pass-through when voting. Let me explain:
Btct.co is the "main" exchange where all MiningCo.ETF shares are held. The Bitfunder shares are held in "escrow" in a separate btct.co account.
This allows a correct "Shares outstanding" count on the MiningCo.ETF asset of btct.co.
When the motion is raised all shares held for Bitfunder in the "escrow" account on btct.co will vote either all yes or all no.
I think I'm going to have to get the majority of votes from Bitfunder and then what ever the results are, have the "escrow" account vote 100% either yes or no.

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GMP is still on the table. It hasn't had a purchase for our fund in a long while, but the plan is to add more.




You might be right. Plus, Bitfunder adds just one more layer of complexity for a split. (Does Bitfunder support splits?)




Thanks for the kind words.




This is all correct. People who buy into the fund before the share price is corrected don't really "get a deal" because the purchasing power of the fund is diminished--just as you said.
The end result is that the entire fund has an overall lower NAV than if the shares were sold at "real time" prices. Maybe a by 1 or 2 percent.




Yes. You can move your shares either way between btct.co or Bitfunder. Send me a PM and we can set it up.

Buying mining equipment is investing.

So I say yes.

Yeah.... imagine. 


MiningCo.ETF actually has an excess of cash right now. This is why no new shares are currently up for sale (BitFunder has 10 left).
New shares will be put up for sale after more shares underlying assets are added to the fund.

Also, I have a little hesitancy using all our cash to purchase share of funds that we already have. If we pass a motion that would allow new underlying assets (like HIM), I would want to use the cash for that. See more about what I think of the motion below.



And good job on bASIC-MINING. 2 Avalons in less than 7 days. Wow.


<Self congratulation>MiningCo.ETF now has over 200 shares outstanding. We broke BTC1 NAV per share which means we got our two bagger.</congratulations>

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I've been considering the motion to include more high quality mining assets. Of course we will stay away from PMBs. But the language of the motion will need to be correct to make sure of this.

I think the number one thing that helps mining assets maintain there value is the inclusion of some kind of reinvestment or growth.

Give me your thoughts on a motion to remove the clause "where the equipment is owned by shareholders" and instead use "where the asset includes a growth/reinvestment fund for the purchase of new equipment on an ongoing basis."

I want to get the wording correct. Let me know what you think.

While we are talking about motions. What about our own stock split. MiningCo.ETF has always been a "higher" priced fund. But is 1+ BTC too high? Would you vote for a split? What ratio? 2:1?  4:1?  10:1?

It has already. And I think you mean... price per "seat." 

Do we still need the AM-PT? I admit it's very nice. At what point should we look at trading them for more hardware?
When the third Avalon is delivered?

I'm just asking for thoughts.