I'll have to pull back some of our J-D investment to get back to the allowed 10%.  Will see what (if any) immediate trades there are on PURCHASE then do a withdrawal a bit later.  Looking like will need to withdraw about 50 BTC.

Sold   2428
Swapped   0
Total   2428
Price   0.01193
Total   28.96604
Less Fee   28.90810792
Man Fee   0.867243238
   
Units   205621
Excess Div   0.00000659
Refund   1.35504239

BTC Balance (BTC-TC)   1413.982673
9071 LTC-ATF.B1    90.71000000
CIPHERMINE Bonds    382.34000000
Coinlenders CD 27/9   202.2378083
Coinlenders Cash   0
Just-Dice Balance    248.10000000
TOTAL ASSETS    2,337.37048141
   
Outstanding MINING   195423
Outstanding SELLING   195423
Outstanding PURCHASE   10198
Effective Units   205621
   
Block reward   25
Difficulty   112,628,549
Hashes per MINING   5000000
   
Daily Dividend    0.00002233
50 days (Min Liquid)    0.00111629
100 days (Forced Close)    0.00223259
365 days (Buyback)    0.00814895
405 days (IPO)    0.00904199
400 days (Post SELLING div)    0.00893036
410 days (Pre SELLING div)    0.00915361
   
NAV Post MINING Div    2,332.77980960
NAV/U Post MINING Div    0.01134505
Days Dividend Post Div   508.16
SELLING Dividend    0.00241469
NAV Post SELLING Div    1,836.26872598
NAV/U Post Selling Div    0.00893036
PURCHASE selling price    0.009377
PURCHASE buy-back price    0.008752
   
J-D House profit at report   6442

Looks like I very slightly overestimated SELLING dividend last night.  Think I used current balance by mistake when some PURCHASE had already been sold.  It was still very close and not a bad guess for having just got back home at 3am.

Back home now - and yes, SELLING dividend gets paid today.  As difficulty change was (just) before midnight GMT, MINING get the old dividend but DMS only pays the new one and the difference is paid by me personally.

Here's my estimate of what will happen (includes the LTC-ATF.B1 weekly dividend which I'll be paying shortly but doesn't allow for any changes in J-D investment or gain from sales/repurchases of PURCHASE).

BTC Balance (BTC-TC)   1385.2
9071 LTC-ATF.B1    90.71000000
CIPHERMINE Bonds    384.34000000
Coinlenders CD 27/9   202.1092334
Coinlenders Cash   0
Just-Dice Balance    247.90000000
TOTAL ASSETS    2,310.25923340
   
Outstanding MINING   192990
Outstanding SELLING   192990
Outstanding PURCHASE   10203
Effective Units   203193
   
Block reward   25
Difficulty   112,628,549
Hashes per MINING   5000000
   
Daily Dividend    0.00002233
50 days (Min Liquid)    0.00111629
100 days (Forced Close)    0.00223259
365 days (Buyback)    0.00814895
405 days (IPO)    0.00904199
400 days (Post SELLING div)    0.00893036
410 days (Pre SELLING div)    0.00915361
   
NAV Post MINING Div    2,305.72276885
NAV/U Post MINING Div    0.01134745
Days Dividend Post Div   508.26
SELLING Dividend    0.00241710
NAV Post SELLING Div    1,814.58582167
NAV/U Post Selling Div    0.00893036
PURCHASE selling price    0.009377
PURCHASE buy-back price    0.008752

EDIT: Have added 1 more digit precision to PURCHASE selling/buy-back prices as BTC-TC should support that now price will be going below .01

GMT is what the contract says so if youre correct dividend will be SUnday.  I cant check for sure as not home yet.

Dividends paid about an hour early as previously mentioned.  Back to normal schedule tomorrow - looks like difficulty rise will be just after midnight so SELLING dividend won't be until Monday (though still possible it could sneak in before midnight and get dividend tomorrow).

I'll be out for the next 9 hours or so - so if bot stops working it won't get fixed until I get back home.

Sold   372
Swapped   0
Total   372
Price   0.01196
Total   4.44912
Less Fee   4.44022176
Man Fee   0.133206653

BTC Balance (BTC-TC)   1389.168424
9071 LTC-ATF.B1    90.71000000
CIPHERMINE Bonds    384.34000000
Coinlenders CD 27/9   202.1092334
Coinlenders Cash   0
Just-Dice Balance    247.90000000
TOTAL ASSETS    2,314.22765697
   
Outstanding MINING   192990
Outstanding SELLING   192990
Outstanding PURCHASE   10203
Effective Units   203193
   
Block reward   25
Difficulty   86,933,018
Hashes per MINING   5000000
   
Daily Dividend    0.00002892
50 days (Min Liquid)    0.00144625
100 days (Forced Close)    0.00289249
365 days (Buyback)    0.01055760
405 days (IPO)    0.01171460
400 days (Post SELLING div)    0.01156998
410 days (Pre SELLING div)    0.01185923
   
NAV Post MINING Div    2,308.35031103
NAV/U Post MINING Div    0.01136038
Days Dividend Post Div   392.75
SELLING Dividend    -         
NAV Post SELLING Div    2,308.35031103
NAV/U Post Selling Div    0.01136038
PURCHASE selling price    0.01193
PURCHASE buy-back price    0.01113
   
J-D House profit at report   6407

His dividends have always been from returning part of capital.

The most obvious contract violation was the transfer of most shares to himself for free.  Contract states they'd be sold at 1 LTC each but only a small portion were - the rest were just transferred to himself and others who were supposedly developing games.

The less obvious contract violation is that there's no evidence that he's actually doing what the funds were raised to do.

Exchange-rate : .02
Adjusted NAV/U : 0.6858
Fund bid at : .672

Before management fee, NAV/U is up by just under 2% on the week with an estimated .45% from trading and rest because of the drop in LTC/BTC exchange-rate.  It's better than I thought but still not a very good week.  Those figures already include full provision for tonight's LTC-ATF.B1 dividend so shouldn't change much by the final report (unless we get some good trades, the exchange-rate moves or price of shares we hold falls and they have to marked down).

WEEKLY REPORT (Data for 8th September 2013)




The week ended with only 0.56% growth in NAV/U but with estimated profits from trading of 3.01%.  The difference, of course, being LTC rising significantly vs BTC.  The exchange-rate is pretty much back where it was 2 weeks previously - and it can be seen if you compare NAV/U now (.6746) to that at the start 2 weeks back (.6481) that we've grown a bit over 4% as expected with pretty much exactly the same exchange-rate.  Actual growth doesn't exactly match my stated trading profits for a few reasons:

• They're estimates.
• Exchange-rate isn't exactly the same.
• Percentage of holdings in each currency has moved.
• My estimated trading profits are pre-management fee whilst the change in NAV/U over any longer period has had management fees deducted.

I'm still no nearer to getting the new securities done.  Problem I've run into is a practical one at my end.  The plan was to move the existing bot over to a different computer/net connection whilst testing the new bot (all the transfer bots were intended to run on the other connection anyway).  The second net connection is a backup mobile broadband connection I have.  Unfortunately in testing the move it became apparent that there's far more bandwidth being used than that connection can support - it only has a pretty small allowance per month (and ridiculously expensive fees for any excess).

At present the only API call to obtain your transaction history provides the full history - which is already well over half a MB for the DMS account.  When you're calling that every few minutes it eats up mobile broadband allowances very rapidly (a test-run showed it using half a GB per day) and that figure is only going to increase.  The ASICMINER pass-through would need a similar download on the main LTC-ATF issuer account (which already has a pretty large history) and on a second account (so as to support transfers in both directions).  The other new set of securities need similar downloads on 2 more new accounts.

Burnside has indicated he'll provide an API call that only provides a few days data - which will solve that issue and allow us to finally get things running.  The ASICMINER pass-through pretty much needs the automated transfer facility so as to allow a market on LTC-Global to be made by any investor who wants to : with the price of the underlying share moving a lot AND the exchange-rate of LTC/BTC being very fluid it's not something I could personally market-make on 24/7 without charging massive premiums on LTC-Global which I don't want to do.  I'd like the prices on LTC-Global to stay very close to the ones on BTC-TC with our profit coming, not from price-gouging on sales, but from a small cut of dividends and a small fee for transfers in both directions.  I believe that is far better for investors and also offers better long-term profit for LTC-ATF.

Longer-term I still intend to develop a proper trading bot with BTC-E integration at which point it could automatically arbitrage for LTC-ATF whenever exchange-rate and/or price-movements made doing so profitable.  But that's still a fair way off.

Management fee of 16 units will be transferred shortly.  I'll then post a brief update with current NAV/U and the fund's own bid price (there's been hardly any net trading profit this week - what profit I made has been wiped by having to mark down some shares I bought with bad timing - but NAV/U will still be up a bit because of LTC falling vs BTC).

The computer it was running on decided to reset overnight.  Probably some windows update or similar - will check settings as I usually disable all automated updates.

It's running again now and has cleared all outstanding orders.

MINING dividend will be slightly earlier tomorrow (today here - the next dividend due anyway) as I have to head out for a train to London before the usual time.  I'll do it half an hour early approximately, with report as usual : think that's better than not doing a report or adjusting the price (but letting dividend go through at usual time unattended).

Pretty hilarious thread.

If you intend to take legal action in a country other than your own the first lawyer you need to hire is one who actually has the right to stand up in courts in that country.  Indian ones don't in the courts which an action like this would appear in - you need a US one.  Having hired a US lawyer why would you then hire 20 Indian ones as well?

If you want to take legal action in the US you need American lawyers.  It really IS that simple.  You send them their $10k or $100k retainer then get down to business (doubt you'll find one who will file on your behalf without $10k in their account from you first - my experience is that's the minimum retainer they'll take for representing a foreigner in a civil case, though that's on a pretty low sample size).

It's not about getting lots of cheap lawyers, it's about getting ONE lawyer/law-firm who can actually do what needs to be done (and that most definitely includes the right to appear in the court in which your claim would be filed).  Then they add a team if necessary.

If OP thinks being a lawyer in India allows you to show up in a US court then he has some serious learning to do.  There ARE situations where foreign lawyers can present - but those aren't situations relevant to a run of the mill civil dispute.

I'll happily throw some cash in to get BFL taken out of action (by whatever means is cheapest - they're low-level shysters so any means of getting them out of business is fine by me provided there's no risk to me personally in it) but Indian lawyers have no part in it unless there's some US/India treaty I'm unaware of allowing civil judgments in India to be enforced in the US.

Yep - the large number of shares that he had no right to take himself in the first place.

Sold   2973
Swapped   0
Total   2973
Price   0.01198
Total   35.61654
Less Fee   35.54530692
Man Fee   1.066359208

BTC Balance (BTC-TC)   1390.716526
9071 LTC-ATF.B1    90.71000000
CIPHERMINE Bonds    384.35000000
Coinlenders CD 27/9   201.9976282
Coinlenders Cash   0
Just-Dice Balance    247.80000000
TOTAL ASSETS    2,315.57415431
   
Outstanding MINING   192874
Outstanding SELLING   192874
Outstanding PURCHASE   9947
Effective Units   202821
   
Block reward   25
Difficulty   86,933,018
Hashes per MINING   5000000
   
Daily Dividend    0.00002892
50 days (Min Liquid)    0.00144625
100 days (Forced Close)    0.00289249
365 days (Buyback)    0.01055760
405 days (IPO)    0.01171460
400 days (Post SELLING div)    0.01156998
410 days (Pre SELLING div)    0.01185923
   
NAV Post MINING Div    2,309.70756845
NAV/U Post MINING Div    0.01138791
Days Dividend Post Div   393.71
SELLING Dividend    -         
NAV Post SELLING Div    2,309.70756845
NAV/U Post Selling Div    0.01138791
PURCHASE selling price    0.01196
PURCHASE buy-back price    0.01116
   
J-D House profit at report   6393

Well there's LHPOOL - operated by emma (same as MOO.COW).  Stopped paying dividends ages ago then claimed the wallet had been stolen.

LTC-ARCADE - operated by greedi who vanished in January.  That one should be locked as there's not even been any pretence of action on it for over 6 months.

LTC-GAMING - should have a warning on it.  He still pays out occasional tiny dividends but appears to given up any pretence that he's actually doing anything.  There's just occasional pump/dumps on it.

I'd suspend it rather than totally delist it.  With criteria for going back live being:

1.  Provide proper accounting for the losses on LHCOIN and the plan going forward.
2.  Sort out the mess with his USD/LTC exchange (he held back payments claiming his PP account was frozen - but then claimed subsequently to have made payments via PP in respect of MOO.COW).  If his account got suspended it's no excuse not to have paid other people 6 months on.
3.  Repay the LTC he personally owes  to MOO.COW plus back dividends.  You may (or more likely may not - seems noone except me remembers it even though the posts detailing it still exist and were quoted so can't be deleted) remember supposedly he borrowed cash from MOO.COW when the previous scammer ran it and allegedly paid back some of that via PP (whilst his PP account being frozen was the excuse for not repaying people who'd sent him PP USD).  But that still left a chunk of what he acknowledges as having personally borrowed  never being repaid.

There's like zero chance he'll pay back but we have to at least pretend he may repay what he owes (only way he will is if he can get more loaned/invested into him - everything I see says he's busto).  In practice all you'll get is excuses and vague promises.  Unfortunately I'm increasingly convinced he was actually working with the other scammer (the schoolkid who launched the security originally) and that the transfer was an intentional attempt to make it a mess to work out who was responsible.  I didn't expect him to default QUITE so fast (I barely cleared my own position profitably in time) - but guess once it became apparent his latest scam dressed up as a security wasn't going to get votes then there ceased to be any benefit to him in making payments.

Loufie (triple B) is next btw.  He's having to steal more blatantly all the time - and will likely default when his next secuirty fails to get approval.  He's been skimming (pretending to solo mine with bad luck/mining for non-existent securities where he has no right/taking the 'development' fund for inappropriate purposes) for a while but recently it's becoming more obvious as the amount he skims becomes a larger percentage of total mined coins.  Probably still a few months before you have to delist his.

Yeah - the error was on my end not yours.  Guess I could have exploited it myself except that would be pretty pointless when, as manager, I have to make good any losses caused by stupidity/carelessness by me.

The CIPHERMINE bond motion passed with 50.4% so I don't have to shuffle my BTC around tomorrow.  Have mixed feelings on that - as I'm pretty confident I could have flipped them for a few percent profit myself so am foregoing that but also no longer have the hassle of moving around BTC to do it.

Now they officially belong to DMS policy will be that if they can sell for a decent markup then I'll sell them down to what I project as being 25% of capital on the next+1 difficulty change.  i.e. I'll try to ensure DMS doesn't ever need to sell them in a rush whilst holding what I believe we safely can for the dividends.  I'm by no means convinced issuing the bonds was a good move for CIPHERMINE investors but that's not our concern.

In other news we now passed 1 TH/S of virtual mining.  I won't put in the title (despite the habit of 'mining' companies putting  pre-orders in thread titles as though they had hardware) as that could give a misleading impression of what DMS is/does.

Source on that?  I've never seen a credible source claim that mining is "supposed" to be profitable (the design never addresses profitability).  Just loads of idiots assuming that and throwing their BTC away.

Would love to hear your news on any other investment where you DON'T have to trust a third-party or where the profit is immediate.  If you can point me to some investment where my cash isn't tied up for any period of time and noone else can steal it then I'd be eternally grateful.  And infinitely rich.

Operator of MOO.COW is and always has been a cheap scammer.  That they took it over (from a different scammer) whilst already being in significant default on another security (and on their USD/LTC exchange website which they tried to launch as a security but failed to gain approval on and on a second mining pool) doesn't lessen that.  When someone's miles behind on dividends (not to mention the loan they should have repaid the security by now) then the minimum action from the exchange should be to delist them until they catch up.  Which won't happen here - 'emma' may be willing to pay the few LTC of missed dividends but totally lacks the cash to sort out the scammed funds from the USD/LTC exchange, the two mining pools he stole funds from and the outstanding balance owed for the loan from MOO.COW (yeah all the investors have forgotten about that but it still exists).

I pointed most of this out when the vote to allow him to take over went up - though in fairness investors couldn't do a lot as at that point the other scammer had shipped him the hardware and for practical purposes it was a done deal.  All the change of owners did was muddy the waters over determining which scammer had stolen what - it in no way changed the fact that the security was issued by one scammer who gave it to another scammer and that investors were always shit out of luck.

There IS a non-zero chance that 'emma' isn't a scammer (and is just going for a world record in incompetence).  In which case it's scary he has children as his genes will propagate.  But scammer is the odds-on favourite by a mile.

Disclosure : I own nothing issued by 'emma' though I have made a profit trading them profitably for LTC-ATF in the past.  Even when I traded them it was obvious he was a scammer (and I posted saying so) but the idiots around here are SO stupid that you can explain why something's a scam and then sell them it for a profit anyway.  Which is either great or extremely depressing depending on how you look at it.

The math works - NAV/U increased by a tiny amount as a result.

Have sent 2.1 BTC to the DMS account.

Lucky noone with a big wallet noticed or they could have bought all 90k then relisted it for a nearly 7% profit.