Many, many LTC-Global mods who seriously care about what is going on, already provide valuable feedback to new and existing asset issuers... for free.

Any potential issuer only has to open a new thread in the securities section of either forum (BTC/LTC) and simply ask for this advice. The issuer can follow this advice or not.




As a LTC-Global Mod, I think this idea is exactly the opposite of what an open and transparent community should be.

But, not everyone wants "open and transparent," and I will not criticize that aspect.

This is not to say that I am against the idea of a company of professionals charging consulting fees for advice--like a lawyer or accountant would. But having a consortium of just LTC-Global mods doing this sounds dubious in the least.

Added additional "proof of ownership" details on the second post to enhance transparency. (Added Nasty Fans list and the Fund's Bitcoin wallet address)

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First dividend will be paid on Wednesday Jan 23 (USA time).
All dividends accrued up until Tuesday will be included in the Wednesday dividend. You can see all the dividends accrued (and where they came from) by opening the spreadsheet (also found on the second post) and clicking on the "Dividends" sheet (at the bottom).
Management fees will also be shown on the Dividends sheet.

Is the correct Piggy Bank total: 43.32034792   ?

Added a "Dividends" tab to the spreadsheet:
https://docs.google.com/spreadsheet/ccc?key=0AqLxDN0JzEUNdHdhandXeDQwTU13N2ZmbWxMMHNzeGc

This will track dividends received and paid by the fund.

At the time I am replying to you...
Your address had 10 BTC sent to it. Then you placed your first bet using this unconfirmed transaction. Change was returned to the same address.
Then all other bets were place with the same unconfirmed transactions.

First, I would wait for a few confirmations. You might find out that you won after all.
Bets sent from unconfirmed transactions don't show up on the site and are held until it does confirm.

And, it looks like you can thank Mt Gox for not including any TX fee on your first transaction. You might have to wait a while.

First batch of shares are on sale for BTC0.5

I plan to release shares for sale "soon."

Starting up, the fund would invest in Nasty Mining, Cognitive, bASIC-MINING and GMP.

With these companies, all three major ASICs vendors will be represented.


In keeping with the Asset Issuer terms, Cognitive and bASIC-MINING would have to be capped at 20% of the value of the entire fund, each.
Nasty and GMP are allowed to have more than 20% of the value of the fund since they are not on btct.co, but my asset contract states that all underlying assets will be balanced with all other assets within 10% margin of error of the entire fund's worth. The rest will be held in BTC for buybacks and keeping in compliance with the Issuer Terms and Asset Contract.

Honesty: Buying into this fund at the start is probably the most risk you will see in this fund. It will be a very rocky start, especially being on the cusp of ASICs being released.   

Yes, I like it very much. I vote to use this logo.

Do you have plans to buy more equipment, release more shares, go to ASICs?

The increasing price of BTC vs USD is making shares more affordable.

Remember, if you are looking to purchase 100 shares or more, please send a PM or find me on the BTC-E chatbox. I will get you the most up-to-date pricing and will direct transfer shares to avoid fees.

Thanks for the mention.

MiningCo.ETF is a Mining Company Fund and is in the last stages of refining the asset contract. When shares begin selling, Nasty Mining will be one of the underlying assets of the fund.

I would like to get feedback about it here: https://bitcointalk.org/index.php?topic=134389.msg1458341#msg1458341

Here is a summary of the thread so far for the tl;dr people:

Portions of the contract include:
A fund that includes Bitcoin Mining Companies. The companies included can be from any exchange, and in some cases, not on any exchange.
All companies included will be weighted equally. Dividends will be paid every week, or so.


Current issues:

• Is the management fee of 6.9% of dividends fair?
• Should the fund go live before ASICs hit the scene (potential to get good pricing, but much more risk). Or should the fund wait until after ASICs (less risk, pricing should stabilize).

I would like to get feed back on these issues.

Thanks. I got mine.

Transactions that are never relayed and/or never confirmed eventually end up back in the sender's wallet... as if the transaction never happened. This usually takes a day (or two).

I also found that amusing.

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I have also received some PMs about waiting to release shares until after ASICs come out. I would like to know what everyone thinks.

Would you be willing to buy in this fund if it started trading now? Investing in underlying assets that have pre-orders for various ASIC companies but no guarantees? Would you feel like the fund would be missing out on buying underlying assets at a discount if we waited; and prices would soar after the ASICs come?

I have made a couple of more changes to the asset contract. I am still trying to address all concerns while still keeping it fair for everybody.

First, the fund received an Abstain vote stating:

This is great feedback. I would love to discuss it further in this topic.
To immediately address this concern, I have reduced the management to a total of 6.9% of dividends.

The management fee was originally lower because the fund was going to only accept underlying assets on btct.co. Keeping everything on a single exchange would obviously make things easier to manage.
Now that the fund is going to spread across different exchanges and use proprietary trading formats, managing the fund becomes more difficult. I don't mind more work, but I want to be compensated fairly for it. I am open to anyone's thoughts on this issue.



I have thought about this point and voting in the best interest of the fund seems a better course of action than abstaining. I have changed the contract to reflect this, as well as offering a Proxy vote if shareholders request it.



These two changes have been implemented in the contract (as seen in the first post and on btct.co)

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The fund would have started trading very soon, but the entire ASIC drama has been a huge ? for just about everyone involved with mining.

With BFL at CES showing off an.. um.. incomplete product, and now with bASIC showing more signs of uncertainty, it would be irresponsible to start a fund with such a huge potential to almost immediately lose value.
There is even an ask for a short on creativex's BASIC-MINING asset.

I could start the fund now, but speculation is not something that I want to bring to this fund. Good solid results, with steady paying dividends is my intended main feature.

I am also interested on anyone's thoughts on the ASIC drama.

Offtopic: Does anyone else get just a slight smile on their face every time they read the word: assbot?

It's OK usagi. It's your auction, so you can set the rules how you see fit.

But, I don't agree with the "post count" rule. So I won't be participating.


_{It's not like I've been a member on this forum longer than you or Deprived or gigavps etc.} 

Sounds good.

*waits expectantly*