[BitFunder] Mining difficulty futures now available: CoinBr.iDiff-*

[gog1]

Does bitfunder charge a seller 1% fee for liquidation at maturity?

[rini17]

Does bitfunder charge a seller 1% fee for liquidation at maturity?

No. It's in fact dividend payment without any fee.

[rini17]

CoinBr.iDiff-E June paid out 0.19339258 per share.

August issue is open for trading, but from now on the value will be subdivided by 100. We want to keep unit price at reasonable level in expectation of rampant difficulty increases in near future.

[Kyune]

With initial price at .0049, but max payout at .006, seems like you put the ceiling on payouts a lot lower this time around.

[rini17]

With initial price at .0049, but max payout at .006, seems like you put the ceiling on payouts a lot lower this time around.

Yes, it is a compromise with current uncertainty caused by having few ASIC vendors with unpredictable mining/shipping. If the ceiling were higher, the price would have to be higher, too. Already it looks that iDiff-O July will be considerable loss for us and we had to learn from it.

[Ashitank]

If I were to buy 1 share of of CoinBr.iDiff-O @ 0.28 will I make any profit if I dont want to short sell ?

[rini17]

If I were to buy 1 share of of CoinBr.iDiff-O @ 0.28 will I make any profit if I dont want to short sell ?

You will profit if difficulty ends up being higher than 28 million on July 17.

[rini17]

Our 89 offer for CoinBr.iDiff-O sold as well. We are not willing to risk more, so unless situation improves (difficulty stalls) there will be no more offers from us.  However, to prevent the asset trading way above maximal payout, we erected ask wall at 0.00999, which is obviously not meant to be bought into.

[rini17]

https://bitfunder.com/asset/CoinBr.iDiff-E August just paid out 0.00508103 BTC per share and October issue will be introduced both on BF and BTC-TC. We have to think at least twice about the parameters, with current ~2% daily hashrate growth

[rini17]

CoinBr.iDiff-O expired prematurely after difficulty hit 100M limit and paid out 0.01BTC/share. Currently it is locked and November issue is under preparation.

Have a nice Sunday!

[rini17]

Just chiming in with update on new Bitfunder requirements. I (as CoinBr owner) am EU citizen, so we plan to continue maintaining iDiff futures on Bitfunder in normal cycle. Already submitted my documents to weexchange and am waiting for verification.

[rini17]

The account was verified and CoinBr.iDiff-E opened for trading. I know, the projected difficulty numbers are scary...

[rini17]

Since Bitfunder is closing, we took following steps:

CoinBr.iDiff-E December had no shares sold yet, so it got discontinued immediately.

CoinBr.iDiff-O November will keep trading normally until Bitfunder closes, and on expiry date (November 20) it will pay out directly to the address in your Bitfunder profile, as published in the assets list. Most likely it will be discontinued after that as well.

For ex-BTC-TC shareholders, transfers of CoinBr.iDiff-O to Bitfunder will not be possible anymore after tomorrow and above applies.

[rini17]

CoinBr.iDiff-O paid 0.06094826 per share directly to shareholders' Bitfunder addresses, thus concluding iDiff history. Due to our funds stuck on Bitfunder, we made private agreements with largest shareholders to pay them only 90% today and  the rest in near future after liquidating some of our other assets.

We do not plan to reopen the futures in this fashion elsewhere at this time. Thanks to everyone who traded with us!

[ThickAsThieves]

Just popping to thank CoinBr for making good on the iDiff payouts despite the exchange closings, rise in bitcoin price, etc.

This shows responsibility in managing risk, and it's appreciated.

Would do business again

[rini17]

Thanks TAT, too! Yes this means we paid out all remaining bitcoins to investors in full today