[BTC-TC and BF] MININGCO.ETF - Closed

[Carnth]

I would like to suggest that when you make an update, write in another post instead of editing the last one. I follow the new posts in this topic and is impossible to follow editions of previous posts. I saw the increased price in btct and then came to this topic to see if something has changed but would be nicer to see it here before.

I completely understand where you are coming from.

However, I did post my responses to previous posts and the "News Update" all in one big post.
I think I may have gone back and increased the font size and bolded "News Update," but that would be the only edit.
Edit: As a matter of fact, I did not edit that post. You can tell when a post is edited by hovering the mouse pointer over the underlined date and time of the post, a tool-tip will show the last edit time. No underline... no edit.


Looking back. I should have made two separate posts (one for the responses, one for the news). I'll do this from now on.

[Carnth]

ASCIMINER seems to be going crazy since it paid out it's promised .10 BTC per share.
Will huge dividends continue or will the rest of Bitfountian now begin to collect?

Even though the price has dropped, I still think ASICMINER is a tad overpriced. What do you think?


With GMP priced so high, the fund is off balance. In the past, the sale of new MiningCo.ETF shares has brought in enough cash to purchase enough underlying assets to bring the fund back in balance.
According to the contract, we still have time before a balance must occur, but I really don't want to sell some of our GMP shares when it is so close to getting their batch 2 Avalons.

[Carnth]

Total dividends of 0.10619087 (management fee included) will be paid this week.

This week, Cognitive has continued to be pressured lower due to COG.F. It has reach its lowest 7day average ever at .138 per share.
GLARI Mining Project (GMP) has jumped in price to 1.00 per share in anticipation of Avalon batch 2 being shipped.

This has caused the NAV per share to increase to BTC0.64

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

Spotlight on Cognitive. What's up with them anyway?


Cognitive is suffering unintended consequences from COG.F
COG.F is meant to raise BTC for Cognitive to purchase new hardware; so it can stay competitive with other companies. If you buy a COG.F share (currently priced at 2.5 BTC), you will eventually get 20 Cognitive shares. The way that a COG.F owner receives new shares is by the original Cognitive issuing new shares. This leads most people to believe that the original Cognitive stock will be diluted and is valued at .125
However, COG.F doesn't get access to any dividends until after new mining hardware is purchased and hashing--whereas original Cognitive shares receive dividends all the while. In theory, original Cognitive shares shouldn't be diluted (all that much) as new shares will only be issued after additional mining power has been added.

In the long run, all mining companies are as strong as their hash rate. Cognitive has taken some unique steps to ensure it remains strong.



MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

[Carnth]

Total dividends of 0.09027343 (management fee included) will be paid this week.

Despite the increasing value of BTC vs USD, the price of just about all underlying assets has remained the same. 

This has caused the NAV per share to remain at BTC0.64


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

ASICS? BFL? Avalon? Anyone?

ASICMINER is still on the table. Now that the dividends have dropped significantly, is it still a value at the price it sells at?


MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

[creativex]

Dividends on ASICMiner have been down the last few weeks because they've repaid their initial IPO and because they're re-investing in hardware, I suspect you knew all this. It sounds like it should be back to normal the week after next. I project APY to be a respectable 38% nominally @ the current btct.co ask price(.7554).

I don't believe it's suitable for inclusion in your fund as it's not a pure mining play, but from a yield stand point it remains attractive IMO.

[Carnth]

Quick Update:

Everyone on btct.co has been paid their dividends.
Usually, I pay dividends for the BitFunder pass-through shares on the next day.
But it seems that BitFunder and Weexchange are having problems right now (I get CloudFlare "website offline" error).

I will keep trying....

[Carnth]

it seems that BitFunder and Weexchange are having problems right now (I get CloudFlare "website offline" error).

I will keep trying....

I finally got through, dividends on the pass-through have been paid.

[Carnth]

Total dividends of 0.0775801 (management fee waived) will be paid this week.
I waived the management fee this week to try to help our dividends as much as possible.

This week, the increasing value of BTC vs USD, has taken a small toll on our underlying assets. 

This has caused the NAV per share to decrease to BTC0.63


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

The value of BTC vs USD has never been more volatile. I just checked the price, and it's at $165. It was at $250 less than 12 hours ago.
Swings this big and this fast are not good. They may help traders on the exchanges, but it hurts the Bitcoin economy as a whole.
Price stability helps an economy become stronger.



MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

[Carnth]

Total dividends of 0.09104909 (management fee waived) will be paid this week.
I waived the management fee this week to try to help our dividends as much as possible.

This week, the action at Avalon is pushing two of our underlying assets to new highs.  GMP is now over 1 BTC and bASIC-MINING is at an all time high.
Of course the dramatic fall of BTC vs USD has something to do with it as well.

This has caused the NAV per share to increase to BTC0.65


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

ASCIMINER has started to auction their 10Gh/s devices and the action at Avalon is heating up for shipping batch 2.
Hopefully dividends are not far behind.
BFL?  Hello? Anyone there?



MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

[iCEBREAKER]

Woot!  Thanks for the good news Carnth.  

This is a highly undervalued security IMO, given its exposure to bASIC and Glari Mining.

It wouldn't hurt if BFL ships (I mean really actually ship, not that BS alpha test) sometime before the heat death of the universe either.  

We just need some good old-fashioned BTCtalk drama to hype it up.  Can you start a flame war with TradeFortress or MPOE-PR, or maybe leave the country and disappear for a while?  

[🏰 TradeFortress 🏰]

We just need some good old-fashioned BTCtalk drama to hype it up.  Can you start a flame war with TradeFortress or MPOE-PR, or maybe leave the country and disappear for a while?   

That tends to only happen with crap assets / issuers

[dance4x]

This was the first bitcoin denominated dividend I've ever received. Thanks Carnth! On a side note, would you mind sharing your thoughts on the new business cloudhashing.com? Looks like some good returns are possible with it, but I'm still not 100% sure it is legit.

[🏰 TradeFortress 🏰]

Looks like some good returns are possible with it

Not really (I don't expect BFL to ship anytime soon), but I'm pretty confident they are legit - otherwise I won't be advertising it.

[Carnth]

This was the first bitcoin denominated dividend I've ever received. Thanks Carnth!

Congrats!  
Hopefully, once the mining companies get their ASCI hardware we can get bigger dividends!

On a side note, would you mind sharing your thoughts on the new business cloudhashing.com? Looks like some good returns are possible with it, but I'm still not 100% sure it is legit.

No one can seem to figure out if they are legit. Plus, they are going to be using BFL rigs. And no one can seem to figure when BFL will ship.
And, they are very expensive.

My advice: If you were going to play a big chunk on SatoshiDice and are interested in CloudHashing, just use your gambling money to buy contracts.

[dance4x]

Thank you for your input. Looking forward to more dividends.

[Carnth]

Total dividends of 0.08685662 (management fee waived) will be paid this week.
I waived the management fee this week to try to help our dividends as much as possible.

This week, with the news of BFL finally shipping.... something, all of our underlying assets are recovering, especially COGNITIVE.

This has caused the NAV per share to increase to BTC0.68


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

With BFL starting to ship, confidence in them and mining companies heavily invested with them are up all around. However, I am still disappointed that they have only released their "smallest" ASIC devices.



MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

[Carnth]

Total dividends of 0.09411221 will be paid this week.

This week, COGNITIVE has continued its recovery. All other underlying assets have remained stable.

This has caused the NAV per share to increase to BTC0.69


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

Last week I mentioned that BFL has started shipping their smallest ASIC devices.
Congrats to Nasty Fans for being the first of MiningCo's underlying assets to get an ASIC device mining. OgNasty is mining with his personal Jalapeno for Nasty Fans. Thank you!
Now, it looks like it's only a matter of time before BFL and Avalon will deliver their 60GH devices so all of our underlying assets can really get going.



MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

[Carnth]

Total dividends of 0.08429394 (management fee waived) will be paid this week.
I waived the management fee this week to try to help our dividends as much as possible.

This week, all of our underlying assets have increased in price despite that there are no major ASIC devices mining. This is mostly due to the lower BTC/USD value.

This has caused the NAV per share to increase to BTC0.75


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

Our dividends continue to diminish, but it is now only a matter of time before our underlying companies get going with ASICs. The question is: when BFL?



MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.

[cloudhasher]

My advice: If you were going to play a big chunk on SatoshiDice and are interested in CloudHashing, just use your gambling money to buy contracts.

Fantastic advice Sherlock!!

Just so you know, we will also be using Avalon for our expansion amongst others. Our 2 TerraHash Avalon miner should hopefully be operational by June end. We did this via Terrahash.com.

Existing contract holders will benefit with some contracts starting earlier than the July published date.

Kind regards

[Carnth]

Total dividends of 0.04877388 (management fee waived) will be paid this week.
I waived the management fee this week to try to help our dividends as much as possible.

This week, our dividends took a big hit. With the Difficulty increasing and only 1 5GH ASIC device mining, all of our underlying assets are trying their best to keep up.
Nasty Fans also implemented a 25% growth fund this week, which will help in the long run but hurt our dividends even more.

There has been a small sell off all underlying assets except GMP.

This has caused the NAV per share to decrease to BTC0.73


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

Cognitive currently has motions open to readjust its ASIC device purchases, including ordering a ASICMINER Blade 10GH device. At ~50 Bitcoins, it's expensive.
Avalon looks to be shipping batch 2. This will help GMP and later bASIC-MINING.
BFL says that they will ship "soon." So nothing new there. 



MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.