Will you invest in the BDK IPO? Thanks.
Maybe, but I checked through the BDK thread and found that the pre-IPO shares are all sold out. |
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Great job. Thanks!
Nice work recently..
this is a great project. well done so far
Thank you. As you could see from our financial report, besides catching IPOs, we are doing arbitraging and market making as well. They are in principle just buying undervalued stocks and selling them when price rises, therefore already included in the contract of MU. But it would be better and more motivated for us if you guys could provide some further approval. (We assume all of you as major shareholders currently.  ) |
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Nice work stochastic. I hope this could calm down some pricing craziness of certain assets in the GLBSE in the long run.
One suggestion though: is it more appropriate to calculate the dividend returns with (dividend of last week)/(average price of last week)? It could prevent someone from manipulating the result by putting a fake ask wall, say, 1-2 hours before you post each week's report.
I don't think my weekly reports has that much of an impact on prices. There has only been 1307 views in 3 weeks, or maybe that is a lot but I don't know. I really just report them because I do it myself anyway and I wanted to see what the market wants for weekly returns. I wanted the weekly dividend report to give an estimated return in dividends for the next week based on what they could get at that moment. I could add the previous weeks low, high, and weighted mean. I really don't believe in fake bid/ask walls are well manipulation tools unless they are naked. If someone puts up an ask with the purpose of manipulating the dividend rate (which would essentially increase the dividend percentage on my tables), then it is entirely possible that someone can purchase those contracts and get the assets at that price with the estimated dividend rate. I hope that people don't just look at the dividend return percentage and make a bid. That would be crazy. For one, future dividends are not dependent on past dividends. The next week's dividends can be due to mining difficulty, competency of the asset manager, earnings changes, or equipment failure. Also, the price may change. What someone could do with this table is to take the weekly total dividend that I report and find the estimated dividend return on the ask price at the time they are thinking of buying. Over time we can also see what is the rate of change in the dividend amounts over the weeks. Which assets are declining and which are rising. With the mining stocks we can look at the change in dividend rate and the difficulty level. In the future I hope with the API that this kind of information can be reported in real time like it is done with other financial assets. Wow I didn't expect such a long and detailed reply.  I could add the previous weeks low, high, and weighted mean. That would be great. Thanks for your answer. |
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Nice work stochastic. I hope this could calm down some pricing craziness of certain assets in the GLBSE in the long run.
One suggestion though: is it more appropriate to calculate the dividend returns with (dividend of last week)/(average price of last week)? It could prevent someone from manipulating the result by putting a fake ask wall, say, 1-2 hours before you post each week's report.
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Yes. I've already been accepted to Clipse's 110% pool but have not yet switched over the miners. I plan to do that this week, along with getting graphs fully functional.
Great to know that. Keep up with your nice work. I've actually started looking forward to your expansion plan. |
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The dividends have been paid. Thanks.
A little less than 150% of last week though. Will you consider using a (>100% PPS) pool like Bitbond does?
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UpdateThe "Investment Opportunity Study" has been modified to "Market Watch". It will include some investment-neutral market information. Specifically, an index of GLBSE will be provided weekly! The index will be calculated as the sum of the total market value of each asset, which belongs to a set chosen from all GLBSE assets. We are now considering this list: FPGA.contract BMMO PureMining Gigamining TyGrr-Bot MU Of course the index is and could be only used purely for reference and fun. Q: Why isn't my favorite asset on this list?A: The list hasn't been determined yet. Plus, it's just our way of calculating a stock index and you could invent yours. Q: Why are you doing this?A: It's fun, and it might provoke a real professional stock index of Bitcoin stocks in the future. Q: Why don't you open a new thread for the index?A: We consider the index as a form of advertisement for MU. Q: What if there are a bunch of new assets suddenly blooming and you have to contain them in your list?A: We will work out a way to normalize the index calculation to make the index stable.
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How would the market maker deal with difference in counterparty risk between different bond offers? 1 MH/s of gigamining is worth more than 1 MH/s of "Joe Bloggs Noob Mining".
It could be dealt using weighting. Or the market maker could just refuse to accept some of the mining bonds he does not trust. |
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BackgroundThe Bitcoin mining market is essentially a hashing power market. However, different mining companies have different advantages and drawbacks, and the pros&cons are multi-dimensional, so different kinds of shares are not very convertible. Fortunately, the mining bonds become popular, which are much more fungible than normal mining company shares. Until now, they are merely alternatives to mining company shares to most of the investors/speculators. However, we could make use of their fungibility to mitigate the lack of liquidity on GLBSE. Have you ever bought mining bonds on 0.6/share, then when you want to cash out, you find that there are only a handful of shares priced more than 0.6/share though the close price seems very high? And have you want to invest in mining bonds, but missed the IPO opportunities, then you find the market has no reasonable price for a serious amount of investment? IdeaImagine there's a market maker, who simultaneously asks and the bids shares each of which represents 1MH/s of (fungible) hashing power. For example, he buys 1MH/s of hashing power with 0.28BTC, and sells 1MH/s of hashing power with 0.32BTC, and guarantees a certain number of volume on each side. The asking and bidding price are constantly changing to reflect the supply and demand. Then the customer could sell any mining bonds to him. Each share of bonds are converted to MH/s according to its actual hashing power. The customer could also buy hashing power from him, but the customer could not ask for a specific portfolio, which means it is the market maker's right to decide how the total hashing power should be composed by different mining bonds, as long as the total sum of hashing power is correct. Discussions1. Is this idea interesting to you at all? 2. How could the market maker hedge his own risk on sudden price drops of the whole mining bonds market? 3. Could someone give some suggestion on how to make it fully automatic? Note that I'm just coming up with premature ideas, I just found it interesting. So to MU shareholders, I won't be distracted by this from running MU. But of course it might be a part of MU's business in the future if the risk could be properly hedged.
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The performance is fantastic. for the IPO investor, this week the MU gain a more than 4% return on investment. If someone buy all the shares at IPO with 300 BTC, MU earns 12.2 BTC for him this week. 4.3BTC is paid as dividend and rest of it will add to growth fund.
It's really fantastic.
In fact it's a result of a major dumping and market making this week. |
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It seems that mining bonds are becoming a money making machine for bond issuers. I understand people's craziness to buy them, but it is very unprofessional to just throw out some data in the OP and wait for shining coins from bidders.
We would be very happy and consider buying a considerable amount of them, if you could answer these questions:
1. How do you support the bonds? By real tangible computation power, or other sources of income?
2. If the answer to 1 is the former, could you put some pictures of your mining rigs and the transaction data of your mining pool online?
3. Do you have backup plans for emergency?
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Could you give an estimation on how would your shares be priced?
How much mining power do you really have now? If you only have 2.5GH/s, if some of your hardware breaks down, how could you pay the dividends?
Perhaps he's using the money from the bonds sale to buy more mining hardware, no? Maybe, but the current OP gives so little information. |
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Could you give an estimation on how would your shares be priced?
How much mining power do you really have now? If you only have 2.5GH/s, if some of your hardware breaks down, how could you pay the dividends?
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Weekly Financial Disclosure
Time: 13:45 AM, Beijing time
Date: Apri. 18, 2012
Funds of Last Week: 13.517 BTC
Assets:
Cognitive
Original: 50shares 28.800BTC
Bought in: 123shares 69.090BTC
Average Holding price: (28.800+69.090)/(50+123)=0.566BTC
Sold: 43shares 27.310*(1-0.5%)=27.173BTC
Average Selling Price: 0.632BTC
Holding: 50+123-43=130shares 130*0.566=73.580BTC
Net Gain: (0.632-0.566)*40=2.640BTC
Dividends Paid: 0.268BTC
TyGrr-Bank
Original: 315shares 31.815BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.101BTC
Sold: 315shares 32.033*(1-0.5%)=31.872BTC
Average Selling Price: 0.101BTC
Holding: 315+0-315=0shares 0.000BTC
Net Gain: 31.872-31.815=0.057BTC
Dividends Paid: 0.000BTC
TyGrr-Bot
Original: 20shares 20.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 20shares 25.000*(1-0.5%)=24.875BTC
Average Selling Price: 1.244BTC
Holding: 20+0-20=0shares 0.000BTC
Net Gain: 24.875-20.000=4.875BTC
Dividends Paid: 0.000BTC
PureMining
Original: 50shares 18.550BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.371BTC
Sold: 50share 19.620*(1-0.5%)=19.522BTC
Average Selling Price: 0.390BTC
Holding: 50+0-50=0shares 0.000BTC
Net Gain: 19.522-18.550=0.972BTC
Dividends Paid: 0.000BTC
BitBond
Original: 140shares 84.750BTC
Bought in: 15shares 7.500BTC
Average Holding Price: (84.750+7.500)/(140+15)=0.595BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 140+15-0=155shares 92.250BTC
Net Gain: 0.000BTC
Dividends Paid: 1.159BTC
Gigamining
Original: 80shares 104.800BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.310BTC
Sold: 10shares 14.000*(1-0.5%)=13.930BTC
Average Selling Price: 1.390BTC
Holding: 80+0-10=70shares 91.700BTC
Net Gain: (1.390-1.310)*10=0.700BTC
Dividends Paid: 1.542BTC
Holding Funds=
13.517-69.090+27.173+0.000-0.000+31.872+0.000-0.000+24.875+0.000-
0.000+19.522+0.000-7.500+0.000+1.159-0.000+13.930+1.542=57.000BTC
Total Net Gain=
2.640+0.268+0.057+0.000+4.875+0.000+0.972+0.000+0.000+1.159+0.700+1.542=12.213BTC
Calculated Dividends: 12.213*35%=4.275BTC
Usable Funds: 57.000-4.275=52.725BTC (The CEO does not take any fee this week)
Actual Dividends: 4.44380059BTC (For Adjusting the rounding errors)
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UpdateWe are considering some modifications to our policies. They are just proposals, not motions. We won't be holding votes on them immediately. Any advices, criticisms and discussions are welcome. 1. Is it OK to always pay 100%(or 95%, fee excluded) when doing the second, the third, and the Nth fundraising, and resume the rate to 35% when they finish? Reason: (1) When doing fundraising, the dividends will be diluted by new shares. Paying 100% during that time could help us obtain more steady returns. (2) It could reduce (N-1) cumbersome motions in the future. 2. Is it OK for the CEO to permanently give up the 5% fee, instead he automatically gains 5% of the new shares issued each time? Reason: (1) It simplifies dividends calculation and reduces BTC transfer. (2) The CEO could cash some out in extreme conditions. (mu in emergency of Bitcoin flow, CEO himself needs Bitcoins, etc) Downside: (1) The CEO will have more potential to influence the stock price.
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Chuck Norris has 42 million Bitcoins.
Chuck Norris never gets Zhoutonged -- Zhoutong gets Chuck Norrised.
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Apologize
We apologize for our hesitation towards the Pre-IPO of Gigamining, and our failure to catch the best price on the IPO.
Though 1.3/share is still way better than PureMining and BitBond, we could have done much better.
Sorry to our shareholders. We will do better next time.
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Weekly Financial Disclosure
Time: 13:28 AM, Beijing time
Date: Apri. 11, 2012
Funds of Last Week: 53.663 BTC
Shares Sold: 1157
Gross Income: 115.700BTC
GLBSE Trading Fee: 0.579 BTC
Net Income: 115.121 BTC
Assets:
Cognitive
Original: 40shares 22.565BTC
Bought in: 105shares 60.900BTC
Average Holding price: (22.565+60.900)/(40+105)=0.576BTC
Sold: 95shares 57.820*(1-0.5%)=57.531BTC
Average Selling Price: 0.606BTC
Holding: 40+105-95=50shares 50*0.576=28.800BTC
Net Gain: (0.606-0.576)*95=2.850BTC
Dividends Paid: 0.000BTC
TyGrr-Bank
Original: 200shares 20.600BTC
Bought in: 294shares 29.400BTC
Average Holding Price: (20.600+29.400)/(200+294)=0.101BTC
Sold: 179shares 18.077*(1-0.5%)=17.987BTC
Average Selling Price: 0.100BTC
Holding: 200+294-179=315shares 315*0.101=31.815BTC
Net Gain: (0.101-0.100)*179=0.179BTC
Dividends Paid: 2.011BTC
TyGrr-Bot
Original: 20shares 20.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 20.000/20=1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 20+0-0=20shares 20*1.000=20.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC
PureMining
Original: 50shares 18.550BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 18.550/50=0.371BTC
Sold: 0share 0BTC
Average Selling Price: N/A
Holding: 50+0-0=50shares 18.550BTC
Net Gain: 0.000BTC
Dividends Paid: 0.232BTC
RSM
Original: 0shares 0.000BTC
Bought in: 15shares 4.500BTC
Average Holding Price: 4.500/15=0.300BTC
Sold: 15shares 5.25*(1-0.5%)=5.224BTC
Average Selling Price: 0.348BTC
Holding: 0+15-15=0shares 0.000BTC
Net Gain: (0.348-0.300)*15=0.720BTC
Dividends Paid: 0.000BTC
BitBond
Original: 80shares 48.000BTC
Bought in: 60shares 36.750BTC
Average Holding Price: 84.750/140=0.605BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 80+60-0=140shares 84.750BTC
Net Gain: 0.000BTC
Dividends Paid: 0.439BTC
Gigamining
Original: 0shares 0.000BTC
Bought in: 80shares 104.800BTC
Average Holding Price: 104.800/80=1.310BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 0+80-0=80shares 104.800BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC
Holding Funds=
53.663+115.121-60.900+57.531+0.000-29.400+17.897+2.011-0.000+0.000+0.000-
0.000+0.000+0.232-4.500+5.224+0.000-36.750+0.000+0.439-104.800+0.000+0.000=15.768BTC
Total Net Gain=
2.850+0.000+0.179+2.011+0.000+0.000+0.000+0.232+0.720+0.000+0.000+0.439+0.000+0.000=6.431BTC
Calculated Dividends: 6.431*35%=2.251BTC
Usable Funds: 15.768-2.251=13.517BTC (The CEO does not take any fee this week)
Actual Dividends: 2.34299BTC (For Adjusting the rounding errors)
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We are very interested.
Will you begin to pay dividends in Apr. 17th? Or would it be later than that? Thanks.
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UpdateThe first round IPO has ended. Thanks for all investors. The time and (BTC/share) of second round IPO is to be decided. If we are doing very well in the next few weeks, maybe it will be sooner than you expect.  Now let's roll up and make a fortune!
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