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Vbs
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July 04, 2013, 03:35:11 PM |
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Yep, thanks for the explaination, this is most certainly the reason.
btct : 2013-07-04 00:47 ฿ 2.78000000 511867 0.00000543 COMPLETE
Only the 511867 sold shares got their divs.
Yep, he must have thought it would be ฿2.78/2,000,000 = 0.00000139, but it turned out to be ฿2.78/511,867 = 0.00000543. Maybe Ken can issue a special ฿0.00000404 dividend on BF to cover this? Thoughts? Yes, Ken should definitely cover us for this. This was one of the issues that were addressed. So the past 5 dividend payouts from BitFunder has been wrong. No, they were correct (the past 5 dividends on BF). Just this time, the dividend on btct.co is wrong. |
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mtbitcoin
Legendary
 Offline
Activity: 876
Merit: 1000
Etherscan.io
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July 04, 2013, 03:38:18 PM |
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My payments per dividend was much higher on amc-pt than on amc on bitfunder? Any reason for this?
True indeed. 0.00000543 per share on BTCT 0.00000139 per share on BitFunder How did that happen? I missed out on a LOT of BTC lol I guess this explains why the AMC-PT (pass-through) is going for higher than the actual AMC listing on Bitfunder  |
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funkymunky
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July 04, 2013, 03:58:39 PM |
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I understand Ken is having some Ken time, which he definitely deserves.
Therefore I'll ask you guys.
Does anyone know how I transfer my BFL credit to AMC/VMC and who do I address it to?
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kslaughter (OP)
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July 04, 2013, 04:01:48 PM |
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My payments per dividend was much higher on amc-pt than on amc on bitfunder? Any reason for this?
True indeed. 0.00000543 per share on BTCT 0.00000139 per share on BitFunder How did that happen? I missed out on a LOT of BTC lol I guess this explains why the AMC-PT (pass-through) is going for higher than the actual AMC listing on Bitfunder I think what happen is that the BTC-TC dividends work different than bitfunder. On bitfunder the dividends are divided between all issues shares which includes all shares issued. BTC-TC must have spread the dividend to only the shares that have sold. Next week the dividend will be correct on BTC-TC to account for this. |
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kslaughter (OP)
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July 04, 2013, 04:07:30 PM |
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Yep, thanks for the explaination, this is most certainly the reason.
btct : 2013-07-04 00:47 ฿ 2.78000000 511867 0.00000543 COMPLETE
Only the 511867 sold shares got their divs.
Yep, he must have thought it would be ฿2.78/2,000,000 = 0.00000139, but it turned out to be ฿2.78/511,867 = 0.00000543. Maybe Ken can issue a special ฿0.00000404 dividend on BF to cover this? Thoughts? Yes, Ken should definitely cover us for this. This was one of the issues that were addressed. So the past 5 dividend payouts from BitFunder has been wrong. No, they were correct (the past 5 dividends on BF). Just this time, the dividend on btct.co is wrong. The dividends on bitfunder was the correct one, next week we will issue the correct dividend on BTC-TC. |
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VolanicEruptor
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July 04, 2013, 04:12:44 PM |
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this issue aside, BTCT always seems to be the better choice over Bitfunder. Is there a way to transfer shares without selling and re-buying?
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kslaughter (OP)
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July 04, 2013, 04:27:41 PM |
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this issue aside, BTCT always seems to be the better choice over Bitfunder. Is there a way to transfer shares without selling and re-buying?
Yes, check the BTC-TC details, however this is not a fast process. Right now it may take 2-3 weeks to get the shares transferred, as we are working on a number of other things. |
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kslaughter (OP)
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July 04, 2013, 04:29:31 PM |
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Yep, thanks for the explaination, this is most certainly the reason.
btct : 2013-07-04 00:47 ฿ 2.78000000 511867 0.00000543 COMPLETE
Only the 511867 sold shares got their divs.
Yep, he must have thought it would be ฿2.78/2,000,000 = 0.00000139, but it turned out to be ฿2.78/511,867 = 0.00000543. Maybe Ken can issue a special ฿0.00000404 dividend on BF to cover this? Thoughts? Yes, Ken should definitely cover us for this. This was one of the issues that were addressed. So the past 5 dividend payouts from BitFunder has been wrong. No, the BF dividends are right. |
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forensick
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July 04, 2013, 04:32:33 PM |
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Yep, thanks for the explaination, this is most certainly the reason.
btct : 2013-07-04 00:47 ฿ 2.78000000 511867 0.00000543 COMPLETE
Only the 511867 sold shares got their divs.
Yep, he must have thought it would be ฿2.78/2,000,000 = 0.00000139, but it turned out to be ฿2.78/511,867 = 0.00000543. Maybe Ken can issue a special ฿0.00000404 dividend on BF to cover this? Thoughts? Yes, Ken should definitely cover us for this. This was one of the issues that were addressed. So the past 5 dividend payouts from BitFunder has been wrong. No, they were correct (the past 5 dividends on BF). Just this time, the dividend on btct.co is wrong. The dividends on bitfunder was the correct one, next week we will issue the correct dividend on BTC-TC. pity i have much more shares on BF, but at lease few on btc.to as well  |
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kslaughter (OP)
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July 04, 2013, 04:33:56 PM |
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I really don't know how it will play out, but shareholders which decide to not swap will continue to receive their dividends for the foreseeable future. I think there wii be a market for the shares
How will AMC shares still receive dividends if mining dividends will be paid to VMC shares? Won't the Avalon's and the 20k chips be used to mine for VMC shareholders? I believe that VMC will be buying back or absorbing the majority of AMC's shares, AMC will still mine and payout to their shareholders. VMC will be a majority shareholder of AMC and pass on the dividend to the VMC shareholders. (Dont know if this is the case, but thats how I interpret it) I interpret that as AMC will purely mine and give dividends for mining. VMC will receive dividends for both mining and sales. AMC and VMC will share dividends from mining? and VMC will have the added dividends from sales? Yes, that is the way it would work. The 10 Million shares represent a 10% division of profits in AMC. If the 10 Million shares are swapped for VMC shares the 10 Million shares would represent a 40% true ownership in VMC. Also VMC will receive income from mining and from sales. |
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oaxaca
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July 04, 2013, 04:47:46 PM
Last edit: July 04, 2013, 05:04:45 PM by oaxaca |
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Are you going to be actively "Buying Up" AMC Shares until there are none to buy after the trade-in deadline? Maybe I missed it but your intentions on AMC after the shareholders "trade-in for VMC shares" has passed is not clear.
My impression is that Ken is saying: "I'll make him an offer he can't refuse"  After reading some more, current shareholders have a clear choice. Shares in VMC would be worth a lot more than shares in AMC moving forward. After the first sale of equipment, or the first bit of profit for VMC the difference will be obvious. Anybody that didn't swap will regret it. |
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kleeck
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July 04, 2013, 05:20:00 PM |
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I have AMC-PT Shares on BTC-TC. I am reading that we need to swap them to VMC? Which hasn't started a PT on BTC-TC yet?!
Ditto. Let's get this answered as there are many of us in this exact scenario. |
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Vbs
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July 04, 2013, 05:24:38 PM |
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I have AMC-PT Shares on BTC-TC. I am reading that we need to swap them to VMC? Which hasn't started a PT on BTC-TC yet?!
Ditto. Let's get this answered as there are many of us in this exact scenario. There is yet no VMC or VMC-PT anywhere. The posted contract was just a draft for community review. [VMC/AMC] Merger
This is a Pre-Merger VMC Offering.
(This Is For Community Review Only)
The Final Offering May Be DIFFERENT
(This Document Is For Community Review Only And May Contain Errors)
(...)
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Surprise
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July 04, 2013, 05:29:07 PM |
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Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.
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kleeck
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July 04, 2013, 05:38:20 PM |
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I have AMC-PT Shares on BTC-TC. I am reading that we need to swap them to VMC? Which hasn't started a PT on BTC-TC yet?!
Ditto. Let's get this answered as there are many of us in this exact scenario. There is yet no VMC or VMC-PT anywhere. The posted contract was just a draft for community review. [VMC/AMC] Merger
This is a Pre-Merger VMC Offering.
(This Is For Community Review Only)
The Final Offering May Be DIFFERENT
(This Document Is For Community Review Only And May Contain Errors)
(...)
Yes. This is the community raising questions for review... Ken, In the scenario where one owns AMC-PT shares but there is no listed VMC-PT on our exchange, (BTC.CO, in this case) what would PT share holder options be? Do you have plans to open up a VMC-PT on BTC.CO? Thank you for your time. |
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lolstate
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July 04, 2013, 06:02:51 PM |
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Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.
We need to make sure there is a way to make Surprise (and any others in this position) whole. The first Google hit I found for what happens to an option following a stock split, is here: http://www.investopedia.com/ask/answers/03/092103.aspThe answer might help us figure out a solution. |
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mtbitcoin
Legendary
Offline
Activity: 876
Merit: 1000
Etherscan.io
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July 04, 2013, 06:10:41 PM |
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this issue aside, BTCT always seems to be the better choice over Bitfunder. Is there a way to transfer shares without selling and re-buying?
Yes, check the BTC-TC details, however this is not a fast process. Right now it may take 2-3 weeks to get the shares transferred, as we are working on a number of other things. My understanding was that you could transfer them from BTC-TC to Bitfunder and not vice versa (which the op was asking) ? And that there was a 1 BTC transfer fee? |
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kslaughter (OP)
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July 04, 2013, 06:12:54 PM |
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Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.
We need to make sure there is a way to make Surprise (and any others in this position) whole. The first Google hit I found for what happens to an option following a stock split, is here: http://www.investopedia.com/ask/answers/03/092103.aspThe answer might help us figure out a solution. This is really not a stock split, it is a swap, 1 share of AMC for 1 share of VMC when approved for trading. The option owner are placing there bets and it up to them to guess right on the timing. As an option trader myself I understand their concerns. |
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Surprise
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July 04, 2013, 06:16:31 PM |
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Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.
We need to make sure there is a way to make Surprise (and any others in this position) whole. The first Google hit I found for what happens to an option following a stock split, is here: http://www.investopedia.com/ask/answers/03/092103.aspThe answer might help us figure out a solution. This is really not a stock split, it is a swap, 1 share of AMC for 1 share of VMC when approved for trading. The option owner are placing there bets and it up to them to guess right on the timing. As an option trader myself I understand their concerns. I made the options trades before any of the merger announcements on the basis of the existing AMC description on both exchanges and previous statements from Ken on this forum. I'm concerned in 2-3 months there won't be anyone to buy my AMC shares or any way to exchange them for VMC shares. I hope I'm not going to get punished for taking Ken at his word. |
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lolstate
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July 04, 2013, 06:16:54 PM |
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This is really not a stock split, it is a swap, 1 share of AMC for 1 share of VMC when approved for trading. The option owner are placing there bets and it up to them to guess right on the timing. As an option trader myself I understand their concerns.
Sure, I'm just thinking that scenario might help us think along the correct lines. I'm wondering if it would be up to the exchange where Surprise bought the options to rule a decision on expiry date or the strike? Edit: added ' or the strike' |
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