[Havelock] Bitcoin Difficulty Derivative (BDD)

[twentyseventy]

Period 33, Day 13 Report - March 22, 2015

Balance Post Divs: BTC 162.13051770

Total Units: 45637

NAV/U: BTC 0.00355261

[1715151021]

1715151021

[1715151021]

1715151021

[twentyseventy]

Have been in meetings all day today so far. Will work on the report now and expect the dividend to be issued at 1PM or 2PM latest.

[twentyseventy]

Period 33 End Report - March 23, 2015

Previous Units              39414
EXCH Sold                   6762
Less Buybacks              0
New Total Units        46176

Previous Balance          169.1133945
Price per EXCH             Variable
Gross Sales of EXCH      26.25004086

Less Fees                    0.05386622
Less Dividends              30.72618630
Less Buybacks              0.00000000
Less Mgmt Fee              0.51683087
Net Balance            164.06655194

End of Period NAV/U     0.00355306

New Difficulty                  46,717,549,645
New Daily Dividend         0.00005382
New Reserve per Unit        0.01076400

New Reserve Less NAV/U = 0.01076400 - 0.00355306= -0.00721094


SELL Dividend                 None (Because NAV/U is less than 200 Days of Dividends)

Days of Dividends On Hand    ~66

You'll notice that I calculate the new Dividend to eight digits and multiply that times 200 Days to get the new Reserve. Those of you that did your own calculations may come up with a slightly different number if you chose not to round or to round elsewhere.

[twentyseventy]

Period 34, Day 0 Report - March 23, 2015

Balance Post Divs: BTC 161.58135962

Total Units: 46176

NAV/U: BTC 0.00349924

[twentyseventy]

Period 34, Day 1 Report - March 24, 2015

Balance Post Divs: BTC 160.33660935

Total Units: 46534

NAV/U: BTC 0.00344557

[twentyseventy]

Period 34, Day 2 Report - March 25, 2015

Balance Post Divs: BTC 159.49327696

Total Units: 47021

NAV/U: BTC 0.00339195


NOTE>: I will be on vacation starting tomorrow and ending Monday. I will make reports and reprice the EXCH ask as possible; all dividends are prescheduled. Any reports not done during this time will come Tuesday.

[twentyseventy]

Period 34, Day 3 Report - March 26, 2015

Balance Post Divs: BTC 158.34233528

Total Units: 47432

NAV/U: BTC 0.00333830


Period 34, Day 4 Report - March 27, 2015

Balance Post Divs: BTC 156.70965791

Total Units: 47706

NAV/U: BTC 0.00328490


Period 34, Day 5 Report - March 28, 2015

Balance Post Divs: BTC 154.25297292

Total Units: 47739

NAV/U: BTC 0.00323117

[fisknils]

Just to make sure I've understood the game..

When/if the balance reaches zero, it's "end-game", aka game over, right?
Does that mean like system meltdown- game over, or game over - new game - insert coin ?

[twentyseventy]

Period 34, Day 5 Report - March 29, 2015

Balance Post Divs: BTC 153.90437924

Total Units: 48434

NAV/U: BTC 0.00317761


Period 34, Day 6 Report - March 30, 2015

Balance Post Divs: BTC 151.87939784

Total Units: 48616

NAV/U: BTC 0.00312406


Period 34, Day 7 Report - March 31, 2015

Balance Post Divs: BTC 149.30764869

Total Units: 48630

NAV/U: BTC 0.00307027

[twentyseventy]

Just to make sure I've understood the game..

When/if the balance reaches zero, it's "end-game", aka game over, right?
Does that mean like system meltdown- game over, or game over - new game - insert coin ?

Yes, once the balance is all paid out, that's totally it. All units are returned to the fund; if it was End Game due to Decrease/Stagnation (the path that is is on currently), MINE would pay out its full daily dividend each day until the last day that it does not have enough to pay out a full dividend to each share.

At that point, all the funds would be split evenly among the MINE shares for a final payout and both MINE and SELL would be returned to the fund (forced buyback at 0).

At that point, I can start a new 'Round' (my terminology) but it would be a fully clean slate - totally new units with a totally new starting value and theoretical hashrate payout.

[twentyseventy]

Period 34, Day 8 Report - April 1, 2015

Balance Post Divs: BTC 148.06231745

Total Units: 49082

NAV/U: BTC 0.00301663

[twentyseventy]

Period 34, Day 9 Report - April 2, 2015

Balance Post Divs: BTC 149.66514898

Total Units: 50506

NAV/U: BTC 0.00296331

[fisknils]

Yes, once the balance is all paid out, that's totally it. All units are returned to the fund; if it was End Game due to Decrease/Stagnation (the path that is is on currently), MINE would pay out its full daily dividend each day until the last day that it does not have enough to pay out a full dividend to each share.

At that point, all the funds would be split evenly among the MINE shares for a final payout and both MINE and SELL would be returned to the fund (forced buyback at 0).

At that point, I can start a new 'Round' (my terminology) but it would be a fully clean slate - totally new units with a totally new starting value and theoretical hashrate payout.

Thank you!
That answered all my questions.

[twentyseventy]

Period 34, Day 10 Report - April 3, 2015

Balance Post Divs: BTC 149.62699332

Total Units: 51422

NAV/U: BTC 0.00290978

[twentyseventy]

Period 34, Day 11 Report - April 4, 2015

Balance Post Divs: BTC 147.45716477

Total Units: 51629

NAV/U: BTC 0.00285609

[twentyseventy]

Period 34 End Report - April 5, 2015

Previous Units              46176
EXCH Sold                   5871
Less Buybacks              1
New Total Units        52046

Previous Balance          164.0665519
Price per EXCH             Variable
Gross Sales of EXCH      18.96198251

Less Fees                    0.04284494
Less Dividends              33.95649114
Less Buybacks              0.00285158
Less Mgmt Fee              0.37448994
Net Balance            148.65185685

End of Period NAV/U     0.00285616

New Difficulty                  49,446,390,688
New Daily Dividend         0.00005085
New Reserve per Unit        0.01017000

New Reserve Less NAV/U = 0.01017000 - 0.00285616= -0.00731384


SELL Dividend                 None (Because NAV/U is less than 200 Days of Dividends)

Days of Dividends On Hand    ~56.16

You'll notice that I calculate the new Dividend to eight digits and multiply that times 200 Days to get the new Reserve. Those of you that did your own calculations may come up with a slightly different number if you chose not to round or to round elsewhere.

[twentyseventy]

Period 35, Day 0 Report - April 5, 2015

Balance Post Divs: BTC 145.63082781

Total Units: 52046

NAV/U: BTC 0.00279811

[twentyseventy]

Period 35, Day 1 Report - April 6, 2015

Balance Post Divs: BTC 146.18486587

Total Units: 53069

NAV/U: BTC 0.00275461

[twentyseventy]

Period 35, Day 2 Report - April 7, 2015

Balance Post Divs: BTC 144.20410863

Total Units: 53333

NAV/U: BTC 0.00270384

[twentyseventy]

Period 35, Day 3 Report - April 8, 2015

Balance Post Divs: BTC 141.98133678

Total Units: 53516

NAV/U: BTC 0.00265306