Sold   13644
Swapped   0
Total   13644
Price   0.01606
Total   219.12264
Less Fee   218.6843947
Man Fee   6.560531842

BTC Balance (BTC-TC)   1870.996585
9071 LTC-ATF.B1    90.71000000
Coinlenders CD 28/8   203.7282228
Coinlenders CD 12/9    100.87015028
Just-Dice Balance    243.74341540
TOTAL ASSETS    2,510.04837368
   
Outstanding MINING   156881
Outstanding SELLING   156881
Outstanding PURCHASE   6953
Effective Units   163834
   
Block reward   25
Difficulty   65,750,060
Hashes per MINING   5000000
   
Daily Dividend    0.00003824
50 days (Min Liquid)    0.00191219
100 days (Forced Close)    0.00382438
365 days (Buyback)    0.01395899
405 days (IPO)    0.01548874
400 days (Post SELLING div)    0.01529752
410 days (Pre SELLING div)    0.01567996
   
NAV Post MINING Div    2,503.78273786
NAV/U Post MINING Div    0.01528244
Days Dividend Post Div   399.61
SELLING Dividend    -         
NAV Post SELLING Div    2,503.78273786
NAV/U Post Selling Div    0.01528244
PURCHASE selling price    0.01605
PURCHASE buy-back price    0.01498
   
J-D House profit at report   5430

Well if you can float the cash yourself then the timescale doesn't matter.

Just bid on it yourself then if you win it worry about creating a security afterwards.  I'm sure there'd be enough interest to sell whatever portion you wanted to - and no lost fees if you lose the auction.

Why are you sure they'll give you 48 hours when they only give everyone else 24?

Where have you previously managed to cash out $100k+ of BTC in 24 hours?  Most exchanges have withdrawal limits below that even if you've completed all the KYC/AML document checks.  Unless you've actually been through the pain that is moving significant sums of BTC into cash you should avoid assuming it's an easy and fast process.  Just getting it transferred into your account wouldn't necessarily let you get a cashier cheque (or check if you're from the US) drawn against it immediately.

So you'd have to convert to USD before you even knew if you'd won to be able to pay in time - meaning 2 sets of conversion fees if you lose and have to refund.

Much as I like BTC-TC that's probably not a good idea - in fact I doubt any exchange is.

If the auction finishes in 4 days then OP would need USD in hand in 405 days time.  That could be tough even if done via direct transfers on the forum - but in 4 days to get approval on BTC-TC and a manual withdrawal and exchange it to USD on an exchange and get it withdrawn to an account?

This is unlikely to work unless OP has the cash himself to pay if you win (then get it back in BTC). If you win the bidding you have to pay within 24 hours by cashier's cheque/paypal/credit-card.

So forget it unles OP has the cash himself OR already has the facility to cash BTC on that scale out very rapidly.

EDIT:  If you were to go ahead best way would likely be to do it off-exchange with investments made in USD not BTC (so pay by bank transfer) then list on an exchange afterwards to handle dividends etc there.

Sold   3205
Swapped   0
Total   3205
Price   0.02048
Total   65.6384
Less Fee   65.5071232
Man Fee   1.965213696

BTC Balance (BTC-TC)    2,292.48224725
9071 LTC-ATF.B1    90.71000000
Coinlenders CD 28/8   203.5971539
Coinlenders CD 12/9    100.80549990
Just-Dice Balance    243.55000000
TOTAL ASSETS    2,931.14490106
   
Outstanding MINING   144608
Outstanding SELLING   144608
Outstanding PURCHASE   5582
Effective Units   150190
   
Block reward   25
Difficulty   65,750,060
Hashes per MINING   5000000
   
Daily Dividend    0.00003824
50 days (Min Liquid)    0.00191219
100 days (Forced Close)    0.00382438
365 days (Buyback)    0.01395899
405 days (IPO)    0.01548874
400 days (Post SELLING div)    0.01529752
410 days (Pre SELLING div)    0.01567996
   
NAV Post MINING Div    2,925.40106374
NAV/U Post MINING Div    0.01947800
Days Dividend Post Div   509.31
SELLING Dividend    0.00418048
NAV Post SELLING Div    2,297.53492857
NAV/U Post Selling Div    0.01529752
PURCHASE selling price    0.01606
PURCHASE buy-back price    0.01499
   
J-D House profit at report   5384

Have locked PURCHASE slightly earlier than usual so I could audit numbers prior to the SELLING dividend - as there were buybacks of PURCHASE as well as sales I wanted to make sure everything added up.

Dividend is going to be almost exactly what I predicted yesterday - although there were sales and redemptions that was balanced by a bad day on J-D (we lost ~1 BTC).

SELLING will be briefly closed to clear order book and then reopened just before I do the SELLING dividends.

Just NO.

You need to get someone with basic numeracy skills to make any posts relating to numbers.

1.  If you assume difficulty will double in a month it doesn't mean chips a month earlier are worth twice as much - as that would also need to assume that what was mined in that month would equal the total mining in all further months (depending on future changes it could actually be anywhere from be a lot less than further earnings to a bit more).
2.  You can't adjust the price based on difficulty AND treat the mined coins as being an extra loss - as you're counting the same thing twice.  The mined coins ARE the only reason to adjust the value for earlier delivery.

If you want to compare the value of chips shipped now with ones shipped in 2 months then you don't quadruple the price, you simply add on the coins that would be mined in those 2 months - and that gives you the MAXIMUM extra value for earlier delivery (it's a maximum because it assumes zero costs or failures during those 2 months).

Whilst that won't tell you how much the chips are worth, it will give provide a basis for determining whether one or the other of the prices is massively better than the other (and if mined income is being 100% returned to investors then you can also make SOME conclusions about likely ROI - but only to the extent of determining whether one is likely to be significantly better than the other : you can't calculate actual ROIs without projecting income a lot further forward).

It's also. in general, a bad idea to take out insurance where the insurer is the same party as the one whose failure you're trying to insure against.

For small delays the premium will cost more than the value of the cover.
For large delays there's a non-trivial risk that the insurance will also default if the supplier defaults (nowhere is there any promise, let alone proof, of segregated funds able to cover all orders in full if there's a massive problem).

Yeah - that's exactly what happened.

They're up now.

Sold   6134
Swapped   0
Total   6134
Price   0.02052
Total   125.86968
Less Fee   125.6179406
Man Fee   3.768538219

BTC Balance (BTC-TC)    2,257.31656981
9071 LTC-ATF.B1    90.71000000
Coinlenders CD 28/8   203.4669716
Coinlenders CD 12/9    100.74128683
Just-Dice Balance    244.60000000
TOTAL ASSETS    2,896.83482823
   
Outstanding MINING   140502
Outstanding SELLING   140502
Outstanding PURCHASE   7611
Effective Units   148113
   
Block reward   25
Difficulty   50810339
Hashes per MINING   5000000
   
Daily Dividend    0.00004949
50 days (Min Liquid)    0.00247443
100 days (Forced Close)    0.00494886
365 days (Buyback)    0.01806334
405 days (IPO)    0.02004288
400 days (Post SELLING div)    0.01979544
410 days (Pre SELLING div)    0.02029033
   
NAV Post MINING Div    2,889.50492310
NAV/U Post MINING Div    0.01950879
Days Dividend Post Div   394.21
SELLING Dividend    -         
NAV Post SELLING Div    2,889.50492310
NAV/U Post Selling Div    0.01950879
PURCHASE selling price    0.02048
PURCHASE buy-back price    0.01912
   
J-D House profit at report   5651

-----------
BELOW HERE IS ESTIMATES FOR TOMORROW
-----------

Daily Dividend    0.00003824

SELLING Dividend    0.00417986
NAV Post SELLING Div    2,265.76197400
NAV/U Post Selling Div    0.01529752
PURCHASE selling price    0.01606
PURCHASE buy-back price    0.01499

Those projections include tonight's LTC-ATF.B1 dividend and interest on coinlenders CDs.  Final values will vary slightly depending on how J-D performs and what sales/redemptions there are.

Pretty certain it wasn't a typo.  If you look at the history you'll see that the buys were done over quite a number of different orders - it wasn't one big order placed at once.

If there was a typo then it was when they did their calculations, not when they placed the orders.

Transfer bot had its first failure on a transfer overnight - someone sent in 46 PURCHASE and it only sent back 46 SELLING (no MINING).

That will happen occasionally - if BTC-TC gos down, my net connection drops or there's a lock error during the transfer.  If it happens to you drop me a PM - it's easy for me to verify and correct.  I'll always notice things like this anyway (I noticed this one quickly as number of MINING/SELLING outstanding didn't match) but in some cases won't pick up on errors until I produce my next report (when total outstanding units will no longer be what it should be allowing for sales/redemptions - telling me there's an error or missed transfer somewhere).

If you're the person who sent the 46 PURCHASE and only got SELLING sent back you now have your MINING as well.

EDIT:  Actually the error was yesterday evening before I went out (I didn't check after I got back from the pub other than to make sure bot was still running):

Update started at 23/08/2013 18:14:19
TX-IN: 46 x DMS.PURCHASE <- Redacted
ERROR: Transfer error. Could not get asset lock.
ERROR: Unknown error with request. Message: The operation has timed out

The transfer of MINING failed because it couldn't get a lock on the asset, the transfer of SELLING worked but timed out responding so bot thought that hadn't worked either (which is why the bot doesn't retry on fails - as sometimes a transaction reported as a fail actually gos through, so all failures are left for me to sort).

Sounds about right.  It will be less than last one for sure.

You need to know what next difficulty will be to do that.  Dividend will be all capital above that needed to retain 400 days dividend for mining at the new difficulty.  Im not home and on my mobile so cant give even a ballpark figure for it.

Accept my apologies then.  It must be frustrating when you cant understand things and so have to waste time worrying about motives rather than just accepting free education.

Yeah this is one of the better investments to use as a hedge against btc falling or staying in same price area.

If you look back in the main thread youll find I raised this issue back when the security launched.  If 6 months later he still hasnt understood it then maybe my position is a bit more undrstandable.

Or maybe he does understand it and just doesnt want to confirm to investors that if btc rises a lot vs usd theyll end up a lot worse off than if they just held btc.

Point is that if btc rises a lot vs usd then holding the shares will perform worse than just holding btc.  Thats why this and all other usd denominated investments have to be considered as a short on btc.  That doesnt mean theyre bad investments just that investors need to be aware that theyre betting against btc by investing in a manner that will perform worse than just holding btc if btc rises vs usd faster thsn the business grows profits.

Apologies for miissing apostrophes am on phone and too lazy to swap to symbols.

Yes - a rise in price won't reduce profit in USD, but it will in BTC.

Ascension proves my point when he says if BTC value rises they still sell same USD average - meaning BTC sales have dropped.  If BTC price doubles then USD value of sales would need to double to keep BTC profits at same level.  And that's not possible when sales are constrained by capital and the capital is in USD (with the exception noted in next paragraph).

The exception is where capital is not already being fully utilised - in that situation a rise doesn't necessarily reduce BTC profits.  That was likely the case during the previous bubble/crash of BTC.  But we know it's no longer the case as Ascension has mentioned having to sell more shares to increase capital - which wouldn't make sense if there was already sufficient capital for a significant expansion in sales.

Pretty sad if the issuer doesn't even realise that the asset is actually USD denominated in practice - guess it'll take BTC rising and divdends falling for him to work out that if BTC rises vs USD then the same amount of USD becomes worth less BTC (which is all you actually need to know to realise that any asset whose revenue is constrained by capital and where capital is in USD MUST be USD-denominated in practice).

BTC-TC is back running but no sign of teh dividends processing.  I gave it a while then cancelled both and resubmitted them for immediate payment.  Nothing more I can do other than wait - expect it's just that there's a lot of load on the server and it'll have to clear that before processing them.