[BTC-TC] Deprived Mining Speculation (DMS)

[Deprived]

BTC Balance (BTC-TC)   449.082353
9071 LTC-ATF.B1    90.71000000
CIPHERMINE Bonds    282.56000000
Coinlenders CD 27/9    203.64459670
Just-Dice Balance    153.86136722
TOTAL ASSETS    1,179.85831689
   
Outstanding MINING   162189
Outstanding SELLING   162189
Outstanding PURCHASE   14397
Effective Units   176586
   
Block reward   25
Difficulty   148,819,200
Hashes per MINING   5000000
   
Daily Dividend    0.00001690
50 days (Min Liquid)    0.00084483
100 days (Forced Close)    0.00168966
365 days (Buyback)    0.00616724
405 days (IPO)    0.00684311
400 days (Post SELLING div)    0.00675862
410 days (Pre SELLING div)    0.00692759
   
NAV Post MINING Div    1,176.87462089
NAV/U Post MINING Div    0.00666460
Days Dividend Post Div   394.44
SELLING Dividend    -         
NAV Post SELLING Div    1,176.87462089
NAV/U Post Selling Div    0.00666460

-----------

NAV/U    0.00666459
NAV/U Excluding Ciphermine    0.00506447
Ciphermine per unit    0.16001269
Units per Ciphermine    6.24950453

----------

PURCHASE is being reopened as I've received a couple of requests to trade or cash them in.

Those wanting to cash in will need to send PURCHASE then when they received MINING and SELLING send those to me for redemption.  The exchange bot is now back running - and it can't identify which trades want to sell back and which want to split to only sell one half.

As I have to go back out now I can't manually do it even if I wanted to.  I should be back in a few hours to do any redemptions sent in by then - then will be out yet again for the rest of evening.

[twentyseventy]

Transfer bot down? Also, do we still have to send in quantities of 25 or less?

[Deprived]

Transfer bot down? Also, do we still have to send in quantities of 25 or less?

Bot was running fine when I went out - unfortunately seems its OAuth token had expired or been reset or something.  So when people sent in and it tried to send MINING/SELLING out it got a "Not Authorised" message.

Have regenerated the OAuth verifier and now it's running fine - have run it to clear the backlog, so everything is up to date now on it (and it's running once every 5 minutes).

You haven't had to sent in quantities of 25 or less since I completed very first testing on it - any quantity works.

[lenny_]

Hi guys,
Welcome back after forums hack. How things are going? Deprived, have you got any news about moving to another exchange?

[stripykitteh]

Hi guys,
Welcome back after forums hack. How things are going? Deprived, have you got any news about moving to another exchange?

Yeah, keen to know about this, as well as getting a report. My rough calculation was that the next SELLING dividend was around the .00134 range and MINING is now .00001329.

[twentyseventy]

Transfer bot down? Also, do we still have to send in quantities of 25 or less?

Bot was running fine when I went out - unfortunately seems its OAuth token had expired or been reset or something.  So when people sent in and it tried to send MINING/SELLING out it got a "Not Authorised" message.

Have regenerated the OAuth verifier and now it's running fine - have run it to clear the backlog, so everything is up to date now on it (and it's running once every 5 minutes).

You haven't had to sent in quantities of 25 or less since I completed very first testing on it - any quantity works.

Thanks for the clarification on the quantity. I don't think I'll have another opportunity to buy PURCHASE at .005, but who knows?

[Deprived]

Hi guys,
Welcome back after forums hack. How things are going? Deprived, have you got any news about moving to another exchange?

Yeah, keen to know about this, as well as getting a report. My rough calculation was that the next SELLING dividend was around the .00134 range and MINING is now .00001329.

No news on moving yet.

I make the SELLING dividend a bit lower - about .00127.

[Deprived]

I'll leave the bot running as long possible - and continue to allow redemptions (though I'm about to get on a train so will have sporadic net access for next few hours and won't be doing any).  I'm not at this stage sure whether transfers will work after trading is closed - if they do then redemptions can continue.

Until we find a new home dividends will continue to be paid and reports posted.

[Deprived]

BTC Balance (BTC-TC)   373.1096388
9071 LTC-ATF.B1    90.71000000
CIPHERMINE Bonds    262.56000000
Coinlenders CD 27/9    203.64459670
Just-Dice Balance    153.86136722
TOTAL ASSETS    1,083.88560273
   
Outstanding MINING   153822
Outstanding SELLING   153822
Outstanding PURCHASE   10475
Effective Units   164297
   
Block reward   25
Difficulty   189,281,249
Hashes per MINING   5000000
   
Daily Dividend    0.00001328
50 days (Min Liquid)    0.00066423
100 days (Forced Close)    0.00132846
365 days (Buyback)    0.00484889
405 days (IPO)    0.00538028
400 days (Post SELLING div)    0.00531385
410 days (Pre SELLING div)    0.00544670
   
NAV Post MINING Div    1,081.70297682
NAV/U Post MINING Div    0.00658383
Days Dividend Post Div   495.60
SELLING Dividend    0.00126997
NAV Post SELLING Div    873.05036538
NAV/U Post Selling Div    0.00531385

-----

NAV/U    0.00531386
NAV/U Excluding Ciphermine    0.00371578
Ciphermine per unit    0.15980815
Units per Ciphermine    6.25750305

-----

For anyone looking to sell back please notice that the units per ciphermine has changed.  That's because a few PURCHASE were actually sold.  Good news is that means a (very slightly) higher percetage of cash per share.  Bad news is that it's no longer so easy to optimise shares sent in on trades.  Whilst the forums were down I continued to send them out at the old 0.16 ratio (so 25 each oof selling/mining received 4 bonds).  But I can't really continue doing that - as it's (only very slightly) taking away NAV/U from those left in.

The obvious multiples are:

7 each of S+M gets 1 bond
63 each of S+M gets 10 bonds
626 each of S+M gets 100 bonds.

There may be other good ratios in between that I haven't noticed.

Note also that I don't know exact time at which trading will cease - or whether transfers will be possible thereafter.

[Deprived]

Dividends are set for usual time today - but right now all balances on BTC-TC are showing as zero until a script is run, so they may not go through.  If they fail then obviously I'll resubmit them again later.

I also have one last minute transfer in of MINING/SELLING that I can't process (can't send shares or transfer coins at present) - so until that's sorted out a report won't be produced (if it takes a while then I can do one with adjustments if necessary).

I'll be out for next hour or two then will see what happened and update.

[HowlingMad]

Dividends did not process.  

There is now a notice on Bitfunder that US citizens will not be allowed to participate, and they will have to sell everything and remove their coin by November 1st.  I guess all my funds are in limbo until you move to a new exchange. 

Nice working with you and thanks for the profits!

[Deprived]

Yeah balances are still all showing as 0 on BTC-TC so it's impossible to pay dividends.  Soon as the balance shows back up I'll pay them.

[matt4054]

Balance is not 0 for me but any withdrawal impossible, triggers manual withdrawal even far below the threshold.

Anyway, any updates about the BitFunder move? You aren't US-based, right?

[BitThink]

Balance is not 0 for me but any withdrawal impossible, triggers manual withdrawal even far below the threshold.

Anyway, any updates about the BitFunder move? You aren't US-based, right?

Yes, balance is not 0 for me too. Manual withdrawal is required even for a very small amount.

+1 for updates about the future plan. Now it seems closing becomes more likely than before.

[odolvlobo]

well this is going to be a problem if DMS moves to Bitfunder:

As of October 8th, 2013, BitFunder will not accept new registrations from any United States persons or entities. ...
As of October 8th, 2013, all current BitFunder users who are located in the United States or are determined to be United States persons or entities will not be able to enter into any new positions on the Bitfunder website, and, as of November 1, 2013, such users will also not be allowed to sell positions on the BitFunder website....

[Deprived]

well this is going to be a problem if DMS moves to Bitfunder:

As of October 8th, 2013, BitFunder will not accept new registrations from any United States persons or entities. ...
As of October 8th, 2013, all current BitFunder users who are located in the United States or are determined to be United States persons or entities will not be able to enter into any new positions on the Bitfunder website, and, as of November 1, 2013, such users will also not be allowed to sell positions on the BitFunder website....

A move to Bitfunder definitely won't happen now.  It would be icnredibly messy to try to move there when we have significant US investors - plus some of other investors may not want to go through ID verification etc.  A move which would leave some investors unable to sell their shares or even register to collect dividends isn't a valid option.

I just posted to our ticket there closing it (it hadn't been responded to by Ukyo anyway).

I'll give a more detailed update on things within the next few days - but, of course, I remain committed to ensuring EVERY investor (even those unfortunate enough to live in the US) receives full benefit for their shares.  In the short-term that means dividend payments through BTC-TC.

Right now the dividends still don't process - when the site comes up it crashes again as soon as I try to schedule a dividend.  Seems the modified bitcoind isn't working quite as planned.  Would expect burnside to have that sorted within a day or two.

[stripykitteh]

A move to Bitfunder definitely won't happen now.  It would be icnredibly messy to try to move there when we have significant US investors - plus some of other investors may not want to go through ID verification etc.  A move which would leave some investors unable to sell their shares or even register to collect dividends isn't a valid option.

That begs the question - if btct is closing down and Bitfunder won't take US customers for much the same reason, where do you turn to if you need to look after US investors?

[Rannasha]

A move to Bitfunder definitely won't happen now.  It would be icnredibly messy to try to move there when we have significant US investors - plus some of other investors may not want to go through ID verification etc.  A move which would leave some investors unable to sell their shares or even register to collect dividends isn't a valid option.

That begs the question - if btct is closing down and Bitfunder won't take US customers for much the same reason, where do you turn to if you need to look after US investors?

Havelock?

[baloo_kiev]

That begs the question - if btct is closing down and Bitfunder won't take US customers for much the same reason, where do you turn to if you need to look after US investors?

Maybe SEC?

[junkonator]

The only reason for DMS to stop trading (other than Deprived quitting) is if the difficulty remains constant, decreases or only increases by very small amounts for quite some time.

Deprived quitting, btct.co going down, bugs in bitcoind, new legislation, big mining farms ceased and 51% attack come to mind. Also that way you don't have to have a btct.co account.

Will DMS be traded at the end of 2013?
http://bitbet.us/bet/487/dms-will-still-be-traded-at-the-end/