[Havelock] Bitcoin Difficulty Derivative (BDD)

[twentyseventy]

In case anyone is wondering about the significant decrease in the number of outstanding shares, I've just done a buy-back for 1800 shares for a shareholder. Cheers-

[twentyseventy]

Period 8, Day 3 Report - April 21, 2014

Balance Post Divs: BTC 496.2413291800

Total Units: 6985

NAV/U: BTC 0.07104385


Again, 1800 shares were bought back last night so the number of shares (and absolute funds on hand) has decreased. Even after today's MINE dividends, the NAV/U actually increased due to the fact that shares are bought back at 98% of NAV/U (as all buy-backs are).

[twentyseventy]

Period 8, Day 4 Report - April 22, 2014

Balance Post Divs: BTC 487.15901259

Total Units: 6890

NAV/U: BTC 0.07070522


Processed a buy-back today for 100 Shares-

[twentyseventy]

Period 8, Day 5 Report - April 23, 2014

Balance Post Divs: BTC 497.22702338

Total Units: 7064

NAV/U: BTC 0.07038887

[twentyseventy]

Period 8, Day 6 Report - April 24, 2014

Balance Post Divs: BTC 497.63916067

Total Units: 7105

NAV/U: BTC 0.07004069

[twentyseventy]

Period 8, Day 7 Report - April 25, 2014

Balance Post Divs: BTC 502.6527933600

Total Units: 7210

NAV/U: BTC 0.06971606

[twentyseventy]

Period 8, Day 8 Report - April 26, 2014

Balance Post Divs: BTC 502.43529338

Total Units: 7243

NAV/U: BTC 0.06936839

[twentyseventy]

Period 8, Day 9 Report - April 27, 2014

Balance Post Divs: BTC 518.07432370

Total Units: 7496

NAV/U: BTC 0.06911343

Looks like the Difficulty will change past Noon on Tuesday, so the SELL dividend will be issued on Wednesday (assuming the increase continues).

Is there any other information you guys would like in the daily reports?

[twentyseventy]

Forgot to schedule the dividend today, so it should go out around 1PM. Report will be issued afterwards; EXCH ask has been taken down until that time so that no newly issued shares receive a dividend.

[twentyseventy]

Period 8, Day 10 Report - April 28, 2014

Balance Post Divs: BTC 516.67184019

Total Units: 7514

NAV/U: BTC 0.06876122

[twentyseventy]

Period 8, Day 11 Report - April 29, 2014

Balance Post Divs: BTC 516.63332575

Total Units: 7551

NAV/U: BTC 0.06841919

SELL Dividend will be issued tomorrow!

[twentyseventy]

Period 8 End Report - April 30, 2014


Previous Units              8421
EXCH Sold                   1068
Less Buybacks              1900
New Total Units            7589

Previous Balance          606.81733699
Price per EXCH             0.07422180
Gross Sales of EXCH      79.26888240

Less Fees                    0.31707563
Less Dividends              32.64426090
Less Buybacks              132.20406500
Less Mgmt Fee              1.53289177
Net Balance                  519.38792609

End of Period 8 NAV/U     0.06843957

New Difficulty                  8,000,872,136
New Daily Dividend      0.00031428
New Reserve per Unit        0.06285600

NAV/U Less New Reserve = 0.06843957 - 0.06285600 = 0.00558357


SELL Dividend                 0.00558357

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.

New EXCH Sales Price          0.06474168

[twentyseventy]

Period 9, Day 0 Report - April 30, 2014

Balance Post Divs: BTC 474.62914244

Total Units: 7589

NAV/U: BTC 0.06254172

[twentyseventy]

Period 9, Day 1 Report - May 1, 2014

Balance Post Divs: BTC 500.23551947

Total Units: 8031

NAV/U: BTC 0.06228807

[twentyseventy]

Period 9, Day 2 Report - May 2, 2014

Balance Post Divs: BTC 513.52025348

Total Units: 8283

NAV/U: BTC 0.06199689

[twentyseventy]

Period 9, Day 3 Report - May 3, 2014

Balance Post Divs: BTC 517.69223662

Total Units: 8391

NAV/U: BTC 0.06169613

[twentyseventy]

Period 9, Day 4 Report - May 4, 2014

Balance Post Divs: BTC 516.24704019

Total Units: 8410

NAV/U: BTC 0.06138490

[twentyseventy]

Period 9, Day 5 Report - May 5, 2014

Balance Post Divs: BTC 515.98779951

Total Units: 8443

NAV/U: BTC 0.06107810

EDIT: Just wanted to remind people of the following fact; the DI is tracking to increase about 9% at the moment, but has been falling steadily over the last few days. Looking at putting together a FAQ post in one of the early post of mine in the thread:

I think this is a good time to remind everyone (or make aware to those that haven't done the math) that the Difficulty needs to increase around 6.5% in order for there to be a SELL dividend issued. I say 'around' since it will be somewhat less if there are significant sales of EXCH, which increase the NAV/U.

This is because the Period is started with 200 Days of Dividends and .5% is paid out each day in dividends to MINE (1 Day / 200 Days = .5%). So, at the end of a 10-Day Period, there are only 190 days of dividends remaining at that ending Period's Difficulty.

If there is a Difficulty increase of greater than about 6.5%, then the necessary Reserve of 200 day of dividends has decreased enough to make this a non-issue. If the Difficulty has increased at less than that approximate rate (or stayed the same, or decreased), then the required Reserve is higher than the actual Reserve and there will be no SELL dividend.

TL;DR It's possible that there could be a Difficulty Increase, but no dividends will be issued to SELL for that Period due to the paid Dividends outstripping the decrease brought on by the small Difficulty Increase. But you really should be reading the whole explanation.

[twentyseventy]

Period 9, Day 6 Report - May 6, 2014

Balance Post Divs: BTC 517.84953829

Total Units: 8520

NAV/U: BTC 0.06078046

[twentyseventy]

Havelock advised that their site is running slowly today due to the SCRYPT offering; Dividends will be issued soon. Will allow new shares of EXCH at that time.