[BTCT][BFMINES] - Mining Contracts Now Available - Bonus Divs First Months

[lenny_]

Can someone tell me, why BFMINES shares are so expensive? Using current ASK price on BTC-TC, it's 3.588 BTC for 1 GH/s.

[twentyseventy]

Can someone tell me, why BFMINES shares are so expensive? Using current ASK price on BTC-TC, it's 3.588 BTC for 1 GH/s.

My guess is that some speculators may think that there will be a buyback at the IPO price of .004. However, there's nothing in the contract to support this; the funds are only returned if the mining hardware fails completely.

Though this attempt at a poorly valued fund has failed completely, I'm sure furuknap will be happy to take the funds he's already sold and buy some mining equipment that will never ROI for these investors, thereby fulfilling his part of the contract.

[jpmi1]

With the closure of Btc.co what will happen to this Contract?

IMPORTANT NOTICE TO ALL BTC TRADING CORP WEBSITE PARTICIPANTS

As a result of recent changes in the virtual currency regulatory environment, the btct.co and litecoinglobal.com virtual stock market websites will be closing down.  The following is our current schedule:

Approximately a week ago, both sites were closed to any new users and new asset creation was disabled.
 
Effective immediately, in conjunction with this release, trading will be halted, all order books cleared, and trading re-enabled.
 
October 7, 2013, all forms of secondary market trading will be halted on both sites.
 
Approximately October 31, 2013, both sites will be taken offline.  It is strongly suggested that participants take the following steps to protect all of their virtual assets:
 
All participants should take steps to transfer all of your BTC and LTC (and any other data you wish to keep, such as CSV trade histories) held on the sites to your personal computer or another trusted site.
 
All participants should make sure that their public BTC or LTC address is properly set in the Account page on the Settings tab whereby it can be shared with all issuers.
 
All “issuers” should have the contact information concerning their “investors”, and we ask that all “issuers” communicate with their “investors” as soon as possible as to how they will ensure that all are treated appropriately.

We regret this development. However, we want to do everything we can to minimize problems arising from this transition.  It is our goal to keep this shutdown orderly and calm.

Thank you for your participation, creativity, loyalty and sense of community over the past year.  Additional communications will follow as we work out the details.

Ethan Burnside
BTC Trading Corp.

[furuknap]

I will release a statement within two days regarding the closure of BTCT. The statement will probably go out sooner, I just need some time because I have some pre-created appointments that cannot shift.

.b

[furuknap]

As announced, BTCT, the current trading site for BFMines, has decided to shut its doors shortly.

Please read carefully, you need to do one specific action.

BFMines' primary purpose is not to be a trading vehicle but a mining contract. As such, the closure of a certain trading platform does not impact the primary operation of the contracts.

BFMines will continue to operate, expecting delivery of the first miner very shortly. Once the miners arrive, you will receive dividends as planned.

To accomodate continued operation, you need to update your profile and set your public withdrawal address. To do so, log in to BTCT and go to your profile.

Trading on BTCT will stop on October 7 on BTCT. 24 hours in advance, on October 6 2013, I will halt trading on BFMines on BTCT. I will also investigate whether public trading on a different exchange will make sense, or whether private listing is a better option.

One temporary change will happen as a result of this. BTCT offered a feature to schedule dividend payments into the future. When this feature disappears with the site, I will change the payout to pay in advance each difficulty period based on a 10 day difficulty period. Any remaining time in the difficulty period will be paid out next period. Any surplus dividends paid will be deducted from the next period.

This will only mean you get dividends sooner, so it is to the benefit of contract holders only. This is a temporary measure until I can find a solutoin to paying daily dividends. The advance payments will come from the operator's funds so will not affect the surplus capacity funds.

Until the future trading of BFMines is clarified, no further IPO contracts will be available for purchase.

Thank you for your patience and understanding in this transition. Do not hesitate to ask questions in the forum if you have them.

.b

[pascal257]

As announced, BTCT, the current trading site for BFMines, has decided to shut its doors shortly.

Please read carefully, you need to do one specific action.

BFMines' primary purpose is not to be a trading vehicle but a mining contract. As such, the closure of a certain trading platform does not impact the primary operation of the contracts.

BFMines will continue to operate, expecting delivery of the first miner very shortly. Once the miners arrive, you will receive dividends as planned.

To accomodate continued operation, you need to update your profile and set your public withdrawal address. To do so, log in to BTCT and go to your profile.

Trading on BTCT will stop on October 7 on BTCT. 24 hours in advance, on October 6 2013, I will halt trading on BFMines on BTCT. I will also investigate whether public trading on a different exchange will make sense, or whether private listing is a better option.

One temporary change will happen as a result of this. BTCT offered a feature to schedule dividend payments into the future. When this feature disappears with the site, I will change the payout to pay in advance each difficulty period based on a 10 day difficulty period. Any remaining time in the difficulty period will be paid out next period. Any surplus dividends paid will be deducted from the next period.

This will only mean you get dividends sooner, so it is to the benefit of contract holders only. This is a temporary measure until I can find a solutoin to paying daily dividends. The advance payments will come from the operator's funds so will not affect the surplus capacity funds.

Until the future trading of BFMines is clarified, no further IPO contracts will be available for purchase.

Thank you for your patience and understanding in this transition. Do not hesitate to ask questions in the forum if you have them.

.b

So there was no dividend paid until now. What's planned?

[furuknap]

So there was no dividend paid until now. What's planned?

Actually, the first dividends went out this morning:

http://bfmines.com/2013/10/17/first-bfmines-dividend-payout/

Sorry for not updating here, but as there is no public trading and likely won't be for some time at the very best, I've focused on updating the contrac holders directly through email and through the web pages.

.b

[pascal257]

Just wondering if there are plans to move to Havelock?

[furuknap]

Just wondering if there are plans to move to Havelock?

Hi!

Until there are more certainty about the legal aspects, putting the asset online for trading is risky for all parties. However, Havelock seems like a likely candidate if or when those factors are clear.

.b

[pascal257]

I'm wondering if its possible to trade the contracts and in case it is, if someone is looking to buy some, just send me a message with subject "BFMINES" and your offer.
I have 1500 shares on address 13RNKSuzev3asMNLEnyJxTDeaPuo7F299U.