[BTC-TC] Deprived Mining Speculation (DMS)

[BitThink]

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/

I will bet most likely no, according to current status. BitFunder is out, Havelock will be the same soon. I don't think Deprived will consider 796, picostacks, etc ..., and he said he does not want to take the trouble to manage by himself. What's other choices?

[1714854081]

1714854081

[baloo_kiev]

I will bet most likely no, according to current status. BitFunder is out, Havelock will be the same soon. I don't think Deprived will consider 796, picostacks, etc ..., and he said he does not want to take the trouble to manage by himself. What's other choices?

Maybe some simple trade engine managed by an anonymous trusted entity. Something similar to CoinLenders.

[odolvlobo]

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 raises 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?

FTFY. See http://en.wikipedia.org/wiki/Begging_the_question. Sorry -- pet peeve.

[matt4054]

As far as I am concerned (for MINING), I'm ok with direct shares / direct dividends, Google Docs or whatever (friedcat style...)

[junkonator]

As far as I am concerned (for MINING), I'm ok with direct shares / direct dividends, Google Docs or whatever (friedcat style...)

The fees for MINING dividends would be prohibitively high. The same is true for SELLING dividends in a couple more diff. changes.

[Deprived]

As far as I am concerned (for MINING), I'm ok with direct shares / direct dividends, Google Docs or whatever (friedcat style...)

The fees for MINING dividends would be prohibitively high. The same is true for SELLING dividends in a couple more diff. changes.

MINING dividends are already too small to send daily manually.  They're below the dust limit - meaning they'd be ignored.

Dividends are working again on BTC-TC, so I'm processing the overdue ones now and also have scheduled today's dividends.

I'm still unable to transfer BTC or shares - so there's one redemption payment still due.  The person in question sent back 1252 each of MINING + SELLING but trading was halted before I processed it.  He (or she) is owed:

4.652156337 BTC
200 CIPHERMINE.B1

If whoever it was would like to contact me I can send the BTC direct to a wallet of their choice.  Nothing I can do about the CIPHERMINE.B1 right now.

[baloo_kiev]

Deprived, will you keep posting the daily reports?

[Deprived]

BTC Balance (BTC-TC)   154.3151605
9071 LTC-ATF.B1    90.71000000
CIPHERMINE Bonds    260.56000000
Coinlenders CD 27/9    203.64459670
Just-Dice Balance    153.86136722
TOTAL ASSETS    863.09112438
   
Outstanding MINING   152575
Outstanding SELLING   152575
Outstanding PURCHASE   10479
Effective Units   163054
   
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    860.92501127
NAV/U Post MINING Div    0.00528000
Days Dividend Post Div   397.45
SELLING Dividend    -         
NAV Post SELLING Div    860.92501127
NAV/U Post Selling Div    0.00528000

Here's today's report (posting it slightly early).

You'll see that NAV/U after today's dividends is aabout 2.5 MINING dividends lower than last published one (3 days ago).  Reason it hasn't dropped by almost exactly 3 MINING dividends is that we received just under 1 BTC in dividends on CIPHERMINE.B1.

The cash on hand and value of CIPHERMINE.B1 in the above include deductions for the amount owed to the investor who tried to cash out just before trading halted.  So if you look at actual cash in the account you'll see it's a bit higher,

[Deprived]

Deprived, will you keep posting the daily reports?

Yes - whilst BTC-TC still functions (and we're still on it) I'll post reports.  Haven't done so last few days due to not being able to pay dividends due to getting errors whenever I tried.  Most days NAV/U is just going to drop by the value of 1 MINING dividend (with maybe 1 satoshi difference due to rounding some days).

[baloo_kiev]

Meanwhile,

Site Code 4 Sale!
The code that ran btct.co and litecoinglobal.com is up for sale.  The sale will not include the servers, the domains, or any database data, but will include:

- The actual code that ran the site.
- Patch files for the custom patches made to bitcoind / litecoind.
- Example Apache config files.
- MySQL table schema as a *.sql.
- Cron scripts and example crontab files.
- Data import scripts.
- Data export scripts.  (including backup scripts)

Most of you probably already know this, but the API functionality is well utilized and has been integrated with many 3rd party projects and sites such as btcjam, various charting sites, several mobile apps, various trade bots, etc.  So you will get out of the box compatibility with many of the community's best works.

It can all be run on a single server but for performance and security reasons I recommend the following configuration:

- An apache / php / memcache / cronjob server.
- A hot wallet server. (behind a firewall that only allows incoming access from the webserver)
- A MySQL server. (also behind a firewall that only allows access from the webserver)
- A remote linux box to run the cold wallet / manual withdrawals.  (has to run the apache/php stack, plus local cold wallet, should be able to be taken offline between withdrawal processing runs.)

We highly recommend an complete understanding of crypto coin daemons, linux, apache, php, cron, memcache, mysql, encrypted filesystems, network firewalls, etc before trying to operate a site of this complexity and magnitude.

Unless the code is modified to conform with legal requirements of the United States Government, (probably not currently possible, but for instance, if you made up your own currency instead of using an established cryptocurrency it might be legal) any purchaser of the code will have to agree to block US citizens from any site utilizing the code.


If you are interested in the site code, please fill out the following and submit a bid via email to ceo@btct.co:

Name: (actual person's name)
Company:
Address: (street, city, province, postal code, country, etc)
Phone: (w/ country prefix please)
Email:

I agree to block US citizens: YES / no

Proposed use of the code:

Best possible offer:  XX BTC or XX LTC

LTC-GLOBAL revenue shares currently held:

Let us know via email to ceo@btct.co if you have any questions.

If we get a really great offer we may close bidding early.  Otherwise I expect bidding to run through Oct 21st, at which time we will evaluate the highest bids and a determination will be made as to whether the purchase price makes sense when weighed against the legal costs associated with assembling a purchase agreement.

Cheers.

[HowlingMad]

It would be nice to find out why Burnside decided to throw in the towel before considering this.  If it's because he doesn't have a broker/dealer license, that is something that can't be fixed overnight.

[twentyseventy]

It would be nice to find out why Burnside decided to throw in the towel before considering this.  If it's because he doesn't have a broker/dealer license, that is something that can't be fixed overnight.

Because if he sells the functioning exchange itself he has significantly more legal liability.

[theprofileth]

Hi I transferred over 43 shares of purchase and I got my mining and selling however I thought I was also suppose to receive an amount of BTC as well.
Just wanted to make sure that something wasn't overlooked though I am guessing that I am just mistaken. 

[HowlingMad]

It would be nice to find out why Burnside decided to throw in the towel before considering this.  If it's because he doesn't have a broker/dealer license, that is something that can't be fixed overnight.

Because if he sells the functioning exchange itself he has significantly more legal liability.

Apologies, I understand why he is selling just the code etc...  My question, as someone who is interested in buying the code, is what prompted Burnside to close in the first place.  Was it SEC or FINCEN stuff, or the LABCOIN IPO, or some other personal reason?  I am guessing it was the first item, as I just received a notice from Dwolla that they are severing all times with the Bitcoin community.

Oh, it's getting more "interesting" by the moment!

In another post I authored, someone mentioned Ripple could be used for a distributed stock exchange.  Sorry not familiar with it.  Worth considering?  I am sure Deprived would like to keep this thread strictly for DMS.  So the other thread is: https://bitcointalk.org/index.php?topic=308012.msg3315889#msg3315889

[Deprived]

Hi I transferred over 43 shares of purchase and I got my mining and selling however I thought I was also suppose to receive an amount of BTC as well.
Just wanted to make sure that something wasn't overlooked though I am guessing that I am just mistaken. 

Not sure who you transferred your PURCHASE to - or who sent you MINING/SELLING as trading isn't currently enabled on the securities.  IF trading occurs then 1 PURCHASE would received exactly one MINING+SELLING - as that's precisely what it represents.  If you've found someone giving you more than that then feel free to share the details - as that represents an opportunity to print free money.

On more general news I'd hope to be able to give an update one where we may relocayr shortly - but can't commit to any firm dates/times.  I'm in discussions with various parties but believe disclosin any details before they're finalised would be counter-productive.  Bottom line is pretty mcuh that if there's no clear plan for relisting by near the end of the month then DMS would close down and distribute all funds.  But hopefully we'll avoid that - as the clear majority view is a preference for continuing to pay dividends/trade.

[Keven]

As far as I am concerned (for MINING), I'm ok with direct shares / direct dividends, Google Docs or whatever (friedcat style...)

The fees for MINING dividends would be prohibitively high. The same is true for SELLING dividends in a couple more diff. changes.

MINING dividends are already too small to send daily manually.  They're below the dust limit - meaning they'd be ignored.

Dividends are working again on BTC-TC, so I'm processing the overdue ones now and also have scheduled today's dividends.

I'm still unable to transfer BTC or shares - so there's one redemption payment still due.  The person in question sent back 1252 each of MINING + SELLING but trading was halted before I processed it.  He (or she) is owed:

4.652156337 BTC
200 CIPHERMINE.B1

If whoever it was would like to contact me I can send the BTC direct to a wallet of their choice.  Nothing I can do about the CIPHERMINE.B1 right now.

It's mine.I would E-mail you later.

[Deprived]

BTC Balance (BTC-TC)   152.1498033
9071 LTC-ATF.B1    90.71000000
CIPHERMINE Bonds    260.56000000
Coinlenders CD 27/9    203.64459670
Just-Dice Balance    153.86136722
TOTAL ASSETS    860.92576726
   
Outstanding MINING   152575
Outstanding SELLING   152575
Outstanding PURCHASE   10479
Effective Units   163054
   
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    858.75965415
NAV/U Post MINING Div    0.00526672
Days Dividend Post Div   396.45
SELLING Dividend    -         
NAV Post SELLING Div    858.75965415
NAV/U Post Selling Div    0.00526672

[Deprived]

As far as I am concerned (for MINING), I'm ok with direct shares / direct dividends, Google Docs or whatever (friedcat style...)

The fees for MINING dividends would be prohibitively high. The same is true for SELLING dividends in a couple more diff. changes.

MINING dividends are already too small to send daily manually.  They're below the dust limit - meaning they'd be ignored.

Dividends are working again on BTC-TC, so I'm processing the overdue ones now and also have scheduled today's dividends.

I'm still unable to transfer BTC or shares - so there's one redemption payment still due.  The person in question sent back 1252 each of MINING + SELLING but trading was halted before I processed it.  He (or she) is owed:

4.652156337 BTC
200 CIPHERMINE.B1

If whoever it was would like to contact me I can send the BTC direct to a wallet of their choice.  Nothing I can do about the CIPHERMINE.B1 right now.

It's mine.I would E-mail you later.

So everyone knows what's happening with this, I've received an email from Keven claiming those transfers.  I just emailed him back asking for copies of the transactions - if he can provide the transaction IDs and time-stamps then I can be confident he has access to the sending account and will transfer him the BTC (the Ciphermine.B1 will have to wait until that's relisted).

[Keven]

As far as I am concerned (for MINING), I'm ok with direct shares / direct dividends, Google Docs or whatever (friedcat style...)

The fees for MINING dividends would be prohibitively high. The same is true for SELLING dividends in a couple more diff. changes.

MINING dividends are already too small to send daily manually.  They're below the dust limit - meaning they'd be ignored.

Dividends are working again on BTC-TC, so I'm processing the overdue ones now and also have scheduled today's dividends.

I'm still unable to transfer BTC or shares - so there's one redemption payment still due.  The person in question sent back 1252 each of MINING + SELLING but trading was halted before I processed it.  He (or she) is owed:

4.652156337 BTC
200 CIPHERMINE.B1

If whoever it was would like to contact me I can send the BTC direct to a wallet of their choice.  Nothing I can do about the CIPHERMINE.B1 right now.

It's mine.I would E-mail you later.

So everyone knows what's happening with this, I've received an email from Keven claiming those transfers.  I just emailed him back asking for copies of the transactions - if he can provide the transaction IDs and time-stamps then I can be confident he has access to the sending account and will transfer him the BTC (the Ciphermine.B1 will have to wait until that's relisted).

I have not receive any email from you.I can provide the transaction time-stamps and will email you later, but where're the transaction IDs? I can not find these。

[Deprived]

As far as I am concerned (for MINING), I'm ok with direct shares / direct dividends, Google Docs or whatever (friedcat style...)

The fees for MINING dividends would be prohibitively high. The same is true for SELLING dividends in a couple more diff. changes.

MINING dividends are already too small to send daily manually.  They're below the dust limit - meaning they'd be ignored.

Dividends are working again on BTC-TC, so I'm processing the overdue ones now and also have scheduled today's dividends.

I'm still unable to transfer BTC or shares - so there's one redemption payment still due.  The person in question sent back 1252 each of MINING + SELLING but trading was halted before I processed it.  He (or she) is owed:

4.652156337 BTC
200 CIPHERMINE.B1

If whoever it was would like to contact me I can send the BTC direct to a wallet of their choice.  Nothing I can do about the CIPHERMINE.B1 right now.

It's mine.I would E-mail you later.

So everyone knows what's happening with this, I've received an email from Keven claiming those transfers.  I just emailed him back asking for copies of the transactions - if he can provide the transaction IDs and time-stamps then I can be confident he has access to the sending account and will transfer him the BTC (the Ciphermine.B1 will have to wait until that's relisted).

I have not receive any email from you.I can provide the transaction time-stamps and will email you later, but where're the transaction IDs? I can not find these。

Ah yeah - just noticed you only get transaction IDs via API.  Just copy/paste the transaction info you have - the time-stamps are sufficent proof.  Not sure why you haven't got the email - it shows as sent at my end - maybe in your junk mail?

EDIT:  Just reloaded my mail and I have a delivery failure report for the email address in the header of your mail to me.  Seems your email  service is restricting traffic by IP - and is presently denying emails from hotmail.  Will try a resend.