[BTC-TC] BTC-Trading Pass-Through Fund (BTC-TRADING-PT) is closed

[creativex]

"Trading is currently frozen on this security."

Could you explain?

I intend to split BTC-TRADING-PT shares 100 to 1 in the near future. We are still waiting on BTC Trading Corp. Stay tuned.

...would be my guess.

[bryant.coleman]

"Trading is currently frozen on this security."

Could you explain?

I intend to split BTC-TRADING-PT shares 100 to 1 in the near future. We are still waiting on BTC Trading Corp. Stay tuned.

...would be my guess.

Wow.. that is great news!

[JohnGalt]

"Trading is currently frozen on this security."

Could you explain?

I can't explain because I don't see it. Are you still getting that message?


As for the split, we are still waiting for Ethan to proceed with the plan for splitting LTC-GLOBAL. No word yet on the progress of that. Sorry.

[JohnGalt]

Voting Update

Here are the results of recent voting:

Ticker	Exchange	Result (Yes-No)
COMINING	LTC-GLOBAL	Abstained 180-115
HOSTED-MINING	LTC-GLOBAL	Abstained 181-115
CIPHERMINE-PT	BTC-TC	Approved 293-4
CIPHERMINE.B1	BTC-TC	Approved 150-48
TAT.NEOBEE	BTC-TC	Approved 387-48
ET-DIFF	BTC-TC	Abstain 137-88

[stereotype]

Voting Update

Here are the results of recent voting:

Ticker	Exchange	Result (Yes-No)
COMINING	LTC-GLOBAL	Abstained 180-115
HOSTED-MINING	LTC-GLOBAL	Abstained 181-115
CIPHERMINE-PT	BTC-TC	Approved 293-4
CIPHERMINE.B1	BTC-TC	Approved 150-48
TAT.NEOBEE	BTC-TC	Approved 387-48
ET-DIFF	BTC-TC	Abstain 137-88

John Bolton
John Galt Asset Management

Whats the logic/thought pattern of voting 'no' for a benign futures instrument?

[bryant.coleman]

I can't explain because I don't see it. Are you still getting that message?

No. Now everything is OK.

[Deprived]

I can't explain because I don't see it. Are you still getting that message?

No. Now everything is OK.

Most likely it was just some maintenance occurring on the site - when that happens trading gets briefly disabled on everything.  Usually there's a box at the top which says Maintenance is occurring but if you're already on a security when it starts then you don't get to see that unless you refresh.

[Mabsark]

I'm looking at investing in this asset and have noticed that the share price has basically halved in the past 2 weeks. Is there a logical reason for this decrease, such as a contractual change/operational change, etc?

I can't see any notices about anything changing, but I did come across a comment about divs not being paid last month and the funds being used to hire legal advice. Was that just a one time thing? Will divs be getting paid again as usual this month?

Any other info that I should know about to help make my decision?

[Rannasha]

I'm looking at investing in this asset and have noticed that the share price has basically halved in the past 2 weeks. Is there a logical reason for this decrease, such as a contractual change/operational change, etc?

I can't see any notices about anything changing, but I did come across a comment about divs not being paid last month and the funds being used to hire legal advice. Was that just a one time thing? Will divs be getting paid again as usual this month?

Any other info that I should know about to help make my decision?

The stock is overpriced. Even with regular dividends, the expected APR is considerably lower than pretty much every bond/loan that is on offer on the exchange. I'm not sure why it has held up its price for so long. I guess that a fair number of shares isn't moving since people hold these (on LTC-Global) to have a moderator-vote on new assets.

To expand on that: LTC-Global (the asset for which BTC-TRADING-PT is the passthrough) is currently valued at ~$5,000,000 (10000 shares @ 250 LTC per share @ $2 per LTC, roughly), which is completely out of sync with its income. Make no mistake, the site makes a fair amount of coin from trade fees, but not enough to justify the current valuation. This is mostly a consequence of market forces though, whatever they may be, as the IPO was at 25 LTC per share back in sept 2012, when LTC was worth not nearly as much as it is now. Since then, both $/LTC and LTC/share have gone up considerably.

[Mabsark]

I'm looking at investing in this asset and have noticed that the share price has basically halved in the past 2 weeks. Is there a logical reason for this decrease, such as a contractual change/operational change, etc?

I can't see any notices about anything changing, but I did come across a comment about divs not being paid last month and the funds being used to hire legal advice. Was that just a one time thing? Will divs be getting paid again as usual this month?

Any other info that I should know about to help make my decision?

The stock is overpriced. Even with regular dividends, the expected APR is considerably lower than pretty much every bond/loan that is on offer on the exchange. I'm not sure why it has held up its price for so long. I guess that a fair number of shares isn't moving since people hold these (on LTC-Global) to have a moderator-vote on new assets.

Looking at the history, dividends seems to be increasing significantly over the last few months and there's been a hell of a lot of trading of Labcoin shares on BTC-TC over the last couple of weeks. The last div was basically double the previous one and if the they've doubled again by the next payout (2 months after the last one), then the divs would be around 0.01 BTC/share - or around 1/4 that of AM for about 1/3 the price.

I think I'll need to do a bit more research before investing though, but it's seems to be looking good so far. If the price falls to 0.4 BTC per share and the next div is 0.01 BTC per share, then that's on par with AM now.

[Rannasha]

I'm looking at investing in this asset and have noticed that the share price has basically halved in the past 2 weeks. Is there a logical reason for this decrease, such as a contractual change/operational change, etc?

I can't see any notices about anything changing, but I did come across a comment about divs not being paid last month and the funds being used to hire legal advice. Was that just a one time thing? Will divs be getting paid again as usual this month?

Any other info that I should know about to help make my decision?

The stock is overpriced. Even with regular dividends, the expected APR is considerably lower than pretty much every bond/loan that is on offer on the exchange. I'm not sure why it has held up its price for so long. I guess that a fair number of shares isn't moving since people hold these (on LTC-Global) to have a moderator-vote on new assets.

Looking at the history, dividends seems to be increasing significantly over the last few months and there's been a hell of a lot of trading of Labcoin shares on BTC-TC over the last couple of weeks. The last div was basically double the previous one and if the they've doubled again by the next payout (2 months after the last one), then the divs would be around 0.01 BTC/share - or around 1/4 that of AM for about 1/3 the price.

I think I'll need to do a bit more research before investing though, but it's seems to be looking good so far. If the price falls to 0.4 BTC per share and the next div is 0.01 BTC per share, then that's on par with AM now.

While you're reasoning makes sense, it remains to be seen if the super-high trade volume keeps up. The exchange can't keep milking LABCOIN forever. Either the issuers prove they're legit and things settle down or they're outed as a scam and the whole thing comes crashing down. Either way, it'll probably happen soon. In addition, there have been fair amount of medium-to-large IPOs recently that benefit the overal trade volume (and fees), but that's not something that lasts.

There's definitely potential for decent profits, but it's fairly uncertain right now.

[Mabsark]

The fund's assets can be viewed on this page: https://litecoinglobal.com/portfolio/gbw4

Can anyone tell me what's on that page as I can't view it? I need an LTC-GLOBAL account but registration is currently disabled.

[Rannasha]

The fund's assets can be viewed on this page: https://litecoinglobal.com/portfolio/gbw4

Can anyone tell me what's on that page as I can't view it? I need an LTC-GLOBAL account but registration is currently disabled.

It's a public portfolio for user "BTCTRADINGPT". The page shows that it owns 130 shares of LTC-GLOBAL and has a 0 LTC balance.

130 LTC-GLOBAL shares can back up to 1300 BTC-TRADING-PT shares due to the 1:10 ratio between the original and the passthrough. And there are exactly 1300 PT-shares outstanding, so all PT-shares are backed properly by shares of the original security.

[Mabsark]

The fund's assets can be viewed on this page: https://litecoinglobal.com/portfolio/gbw4

Can anyone tell me what's on that page as I can't view it? I need an LTC-GLOBAL account but registration is currently disabled.

It's a public portfolio for user "BTCTRADINGPT". The page shows that it owns 130 shares of LTC-GLOBAL and has a 0 LTC balance.

130 LTC-GLOBAL shares can back up to 1300 BTC-TRADING-PT shares due to the 1:10 ratio between the original and the passthrough. And there are exactly 1300 PT-shares outstanding, so all PT-shares are backed properly by shares of the original security.

It would be nice if this link contained more than the current and previous months data.

[JohnGalt]

Mabsark,

Rannasha's answers are accurate, although I disagree with his belief that the stock is overpriced. The exchanges are growing and I believe they will continue to grow. Increasing profits justify a higher price.

I don't provide a history because that information can be obtained elsewhere already (including in this thread), and because I'm lazy.

BTC-TRADING-PT is passive and only hold shares of LTC-GLOBAL. Its price closely follows the price of LTC-GLOBAL, but it is denominated in BTC. Ignoring recent events, it has dropped over the last several weeks because the price of LTC in terms of BTC has been falling (20% or so).

[usagi]

Mabsark,

Rannasha's answers are accurate, although I disagree with his belief that the stock is overpriced. The exchanges are growing and I believe they will continue to grow. Increasing profits justify a higher price.

I don't provide a history because that information can be obtained elsewhere already (including in this thread), and because I'm lazy.

BTC-TRADING-PT is passive and only hold shares of LTC-GLOBAL. Its price closely follows the price of LTC-GLOBAL, but it is denominated in BTC. Ignoring recent events, it has dropped over the last several weeks because the price of LTC in terms of BTC has been falling (20% or so).


John Bolton
John Galt Asset Management

The fund's assets can be viewed on this page: https://litecoinglobal.com/portfolio/gbw4

Can anyone tell me what's on that page as I can't view it? I need an LTC-GLOBAL account but registration is currently disabled.

Looks like the problem is a little bit bigger than that. Luckily my trading strategy caused me to avoid a 50 BTC loss, as I had only picked up 20 or so shares above .90. Still, an 8-10 BTC loss with little to no warning is pretty bad.

I didn't actually realize that LTC-GLOBAL had stopped allowing new users. Looks like BTC-TC has too. That's an extremely troubling sign. I'm going to have to look into that. I'd say shares of LTC-GLOBAL are worth IPO right about now (20 LTC) not 300 (or 450+ for that matter).

[gaba]

@usagi, @Rannasha nice move

Thanks on these discount. BTC Trading Corp (BTC-TC) is biggest  virtual currency stock exchange and  growing. Remember that.

P.S. Good luck with bond/loan with bigger APR than LTC-Global.

[Rannasha]

@usagi, @Rannasha nice move

Thanks on these discount. BTC Trading Corp (BTC-TC) is biggest  virtual currency stock exchange and  growing. Remember that.

P.S. Good luck with bond/loan with bigger APR than LTC-Global.

You were saying? ^^

[gaba]

That was quick. Sorry guys. I was wrong. 

[bryant.coleman]

I had 22 shares bought at 0.9 BTC. Now they are worth 0.01 BTC apiece.