So far, the transfer to direct shares has been going fairly smoothly. Just a few bumps here and there.
After you submit your shares, I have to manually process your request, check your Bitcoin signatures, etc. So the process is a little slow on my end.

You can check your results on the Direct Share spreadsheet:
https://docs.google.com/spreadsheet/ccc?key=0AqLxDN0JzEUNdHNONWVCUFM3ekZFN3ZYd0FycTh3N0E

Remember, it takes a little while for me to process the transfers, so you will not see your results right away. It may take up to a couple of days, but usually less than 24 hours.

How to interrupt the results:
Search for your submitted Public Bitcoin address, if it's there and has a number of shares next to it. You are done! You now have direct shares.
If your Public Bitcoin address has no shares listed and is highlighted in red color, then there is a problem. Where possible, I have tried to leave notes/hints so that the problem can be corrected. After the problem(s) are fixed, please submit again.
If your Public Address is not there, then I haven't processed your request yet. Please wait a couple of days. If it's still not there, then feel free to send me a PM to check the status.

The most common problem I have seen is an invalid Bitcoin Signature. This is most likely due to putting a space before, after, above, or below text.
An invalid signature can also be caused by Capital letters... Signatures are very sensitive, one thing wrong will cause the signature to be invalid.
This is the only text that should be in the box when you sign:


For more help on how to sign, here is a Youtube video that I found:
http://youtu.be/3oxM9_OCQKM?t=35s

After you create your signature, make sure to check it! Go to this website:
http://brainwallet.org/#verify?vrMsg=miningco.etf
Paste in the signature that was generated, click "verify message" and make sure your Public Address appears. If any other Bitcoin address appears, then the signature is invalid.




Do not transfer any shares to the Fund's exchange account. Shares on btct.co will "go away" when the site shuts down.
Shares on BitFunder will be destroyed after a deadline we need to agree on.

There must be a deadline for transfers to direct shares. Everyone, how long should this be?
I can't pay any proceeds until all shares are transferred.
Any shares not transferred to direct shares simply lose out.
What is the best balance of being fair to everyone?

I suggest 1 month from my direct share announcement, which was made on this forum and on both exchanges on 16 Oct.



The fund has not traded since I announced that I would be stepping down in prep for a new manager. Someone got lucky.

But, if there are shares left over that do not transfer to direct, it would accomplish the same thing without having to actually buy back shares.

Has the new hardware arrived? Is it up and running?

They wouldn't just vanish. btct.co sends a full list, so neotrix knows exactly how many there are.
The longest part of the process is verifying which users accounts on btct.co got to which user accounts on CT. Most people keep the same username and email, but some don't. And it takes time to manually verify.

I'm trying to finish closing down the NASTY-PT on btct.co (it was great while it lasted).

I have 21 seats available. Please send a PM to me if you are interested in purchasing the lot.

"Thank you" to our donators!   

I saw the expired cert. Clicked past it.

I don't think you need to renew. Spend $10 at the most if people insist.

Right now, there is no official word.

My advice: don't do anything yet.

No dividends will be paid this week. Instead, we are moving to direct shares.


We are moving to direct shares for liquidation.
All shareholders on both exchanges are required to participate in order to get your shares registered for liquidation proceeds.

Here is the process:

Make sure your account has a public withdraw address.
On BitFunder, this is most likely already done.
On btct.co, please follow the instructions in this post.

Make sure you know how to sign a message using Bitcoin.
Instructions for signing a message can be found in the same post, under the section "How can you be sure that you are able to proof the ownership of your withdrawal address?"

Using your client wallet, sign a message with your public Bitcoin address and save the signature. This will verify that you own the shares.
Sign this message: miningco.etf
Make sure there are no spaces before/after above or below.

Fill out the Direct Share Transfer Form.
https://docs.google.com/forms/d/19_46azDkyRbQaD8i2cnZNTPiOvrdP5trpMAiu5jdBeo/viewform
If you have shares on both exchanges, register twice--once for each exchange and the number of shares you have there.

Check that your shares are transferred.
After I verify the Bitcoin signature of each submission, shares will be tied with that public address and posted in the official share spreadsheet:
https://docs.google.com/spreadsheet/ccc?key=0AqLxDN0JzEUNdHNONWVCUFM3ekZFN3ZYd0FycTh3N0E

Shares in the exchanges will no longer hold any value.
Do not buy or sell any shares on the exchange. If you submit a transfer request that does not match the number of shares on the exchange, I will reject it.

Going through this transfer process is required to receive liquidation proceeds.
Any shares not transferred will not receive anything--these proceeds will be evenly distributed to those that have registered.

Start your share transfer process now.
If you have any questions, post them in the the BitcoinTalk forum, or send an email.
https://bitcointalk.org/index.php?topic=134389.240

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Summary:

All shareholder fill out this online form: https://docs.google.com/forms/d/19_46azDkyRbQaD8i2cnZNTPiOvrdP5trpMAiu5jdBeo/viewform


Check for your shares here: https://docs.google.com/spreadsheet/ccc?key=0AqLxDN0JzEUNdHNONWVCUFM3ekZFN3ZYd0FycTh3N0E

---

The above has been posted as "News" items on both exchanges
Please reply with questions or comments.

I just submitted the last batch of share to seat transfers to nonnakip. If you submitted your transfer, you can expect your seats within a day or two.
If you have not submitted your transfer request, it is too late.

Here are the current records according to btct.co:

There are 2100 shares/21 seats left among 33 shareholders.
2 of these shareholders have not set a public withdraw address. You two need to have your public withdraw address set. For instruction on how to do so, please see this post:
https://bitcointalk.org/index.php?topic=283947.msg3233637#msg3233637
If you do not set a public withdraw address, I probably will not be able to pay you. I will keep these proceeds as a donation!

We are now moving to the Liquidation phase.
I will find a buyer for the remaining seats, then proceeds will be distributed to the 2100 shares.
Finding a buyer will most likely take a few weeks. If a buyer is found after btct.co closes, the proceeds will be paid directly to your public withdraw address.

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If you or someone you know would like to purchase Nasty Fans seats, please have them contact me.

Try sending an email to: admin  [at ]  crypto-trade.com

Explain your situation, they usually get back to you within 24 hours.

No one has contacted me about managing the fund. At this point I am moving forward.

No one has made any other suggestions so, I am going to start the "direct" share plan.
Moving to a "direct" share plan is the only way that I can think of that will allow us time to liquidate our underlying assets post btct.co/Bitfunder.

Moving to "direct" shares will require everyone to "register" your shares with me and I will keep a record of which public address has how many shares.
Part of the registration process will involve signing a message with your public Bitcoin address. This proves that you own the address.
This also means that you need to use and address from a wallet where you have access to the private keys. Some examples of wallets that would work are: The standard Bitcoin wallet; Multibit; blockchain.info/wallet. If you need to change your public Bitcoin address in your exchange account (on btct.co or BitFunder) do it right now.
Remember, it doesn't have to be an address that you use for your coins, but it will be where your liquidated proceeds are sent.

Both btct.co and BitFunder MiningCo.ETF shares must be converted to direct shares in order to receive your liquidated proceeds. Any shares that are not registered by the deadline will be considered a donation to me.


I will start the direct share plan and have more details within the next couple of days. For now, please ask questions, or post your comments about this plan. Two way communication is the best way to keep this open and fair for everyone.

The latest dividends have been paid to the few shares that are left.
Since there are so few shares, the 4% management fee and the 1% donation back to Nasty Fans has been waived. Trying to donate such a small amount would be considered a dust transaction.

This also means that I will begin processing transfer requests that are in the queue.



This Monday, I will start the liquidation process. If you know anyone who would like to buy Nasty Fans seats, please show them this post. It would really help out the liquidation process and dramatically speed things up.
I won't know how many I have for sale until all the share transfers are complete.

This was the default plan to begin with.
Everyone holding ASICMINER-PT shares is going to be transferred to direct shares. You didn't have to make a request.

Until you get your direct shares, I'm sure burnside is doing everything he can to make sure you get your proper dividends.

Liquidation will be as follows:




The actual numbers are:

($1301 / 31.1034768) / $124.25 / 100 = 0.00336645 per share

Thank you. BTC-GOLD is closed.

Final call for share to seat transfers.


The shutdown of NASTY-PT has gone very smoothly. I want to thank everyone involved for their patience and trust during this transition.
So far 41900 shares -> 419 seats have been transferred successfully. This is a fantastic turn out.



I still have a couple of requests open at this time. Your requests will be processed, please watch for a response from me after dividends are paid tomorrow (a little more than 24 hours after this post).

For those of you who still want to transfer your shares to seats, you have until the end of Sunday 13 Oct (UTC) to submit a request. After that, you will have to wait for share liquidation.
To transfer shares to seat, pleasefill out this form and copy and paste it in a PM or email to Carnth to have your shares converted to seats. (Email address can be found on asset details page).

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btct.co username: 
nastyfans.org username: 

Number of NASTY-PT shares being transferred (must be multiples of 100): 

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I would like to keep the fund going with a new manager too.
But as I have said...

There is no one else to manage the fund. If anyone knows someone who would like to take over, please ask them to post here in this thread.




This is the current plan. But Liquidating is a tricky situation. You don't want to sell to fast and take a huge loss, but you also don't want to wait around for a long time.



That is my plan.
I will continue to keep the spreadsheet updated. Dividends will be kept as cash and distributed in a lump sum with all other proceeds from liquidated assets.


I would like everyone's thoughts about this. I am trying to keep things fair for everyone involved.

This list includes anyone who has not transferred to TAT Investments.


If you transferred your shares to TAT, then you need to ask ThickAsThieves.

Total dividends of 0.30730925 will be paid this week.

This is about 0.00012056 per share with an instant annual dividend yield of 14.96%

btct.co market trading is closed. BitFunder is excluding US customers.

This has caused the NAV per share to decrease to BTC0.0419

The NAV is based on the last price for btct.co assets.

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

Last week's vote to continue on with a new fund manager is now moot. BitFunder closing to US customers is devastating, especially to MiningCo.ETF. There is no one to continue managing the fund.
The question has been raised "Can we move to 'direct' shares." And the answer is: Yes. This looks like the only alternative we have at this point as liquidating will take longer than the time allotted to us.
Do not mistake that moving to direct shares means that the fund will continue. It simply gives us time to liquidate in a more orderly fashion (as opposed to selling off at fire sale prices).

If we go to a "direct" share system, dividends may be less frequent--such as biweekly or monthly, or even stop.
Dividends may stop altogether and be collected and disbursed when the fund is totally liquidated. I would like to discuss this.

Please make sure to set a Public Withdraw address in your btct.co account. You need to have this. DexX7 (who manages CipherminePT) has a great "how-to" post here:
https://bitcointalk.org/index.php?topic=283947.msg3233637#msg3233637

I will continue to listen to any other ideas brought up in this thread.

Yes.




Yes.


I have always managed this fund in an open and honest manner. And I will continue to be open and honest to the end of this fund.


BitFunder closing it's doors to US citizens affects MiningCo.ETF drastically. I am a US citizen. As such I will not be able to manage the fund.
This also excludes OgNasty taking over as a fund manager.

I have reached out to other people since the end of September, asking if they would be interested in managing the fund. They are either US citizens themselves or have declined.


This leaves only one choice: shutting down the fund.


There is a potential problem: Liquidation of some of the underlying assets.

We have 5 underlying assets in the fund. Here is the current information that I have on each:

ASICMINER
MiningCo.ETF will get direct shares. These can be sold on the forums.



bASIC-MINING
CreativeX manages bASIC-MINING and has not made a determination of where it will go. I can't do anything with our bASIC-MINING shares until creativex makes a move.
CreativeX is a US citizen


Cognitive
Garret mannages Cognitive and is in the same boat as creativex. No determination has been made where Cognitive will go. Garret is a US citizen.



Glari Mining Project
GMP is on cryptostocks and has avoided all of the exchange issues. These shares can be liquidated.


Nasty Fans
Nasty Fans is on its own proprietary platform. The shares can be liquidated; although the market there can be slow.


To help speed up liquidation, I will look to offer direct sales of underlying assets; however btct.co transfers are currently not working.
So, if you want to make an offer for assets, send a PM. (When sending a PM, please understand that this is an extremely busy time for me.) Be advised, I may post your offer publicly in this thread as part of my open and honest policy (for example: Got an offer for 5 shares @ 0.11 each).

If anyone has any suggestions to help make this process go smoother, please post I am willing to listen to any ideas.

Thanks, missed that.