[Havelock] Bitcoin Difficulty Derivative (BDD)

[twentyseventy]

Period 9, Day 7 Report - May 7, 2014

Balance Post Divs: BTC 520.37871195

Total Units: 8603

NAV/U: BTC 0.06048805

Div paid, EXCH back up, order restored to the universe

[1714609819]

1714609819

[twentyseventy]

Period 9, Day 8 Report - May 8, 2014

Balance Post Divs: BTC 519.49421820

Total Units: 8632

NAV/U: BTC 0.06018237

[twentyseventy]

Period 9, Day 9 Report - May 9, 2014

Balance Post Divs: BTC 518.03601330

Total Units: 8652

NAV/U: BTC 0.05987471

[twentyseventy]

Period 9, Day 10 Report - May 10, 2014

Balance Post Divs: BTC 516.25785779

Total Units: 8667

NAV/U: BTC 0.05956592

[twentyseventy]

Period 9, Day 11 Report - May 11, 2014

Balance Post Divs: BTC 514.34952206

Total Units: 8680

NAV/U: BTC 0.05925685

Looks like the difficulty will change mid-morning tomorrow, so the SELL div should be paid tomorrow at Noon. If the Difficulty changes between 11AM and Noon, the div will be issued at 1PM.

[twentyseventy]

Period 9 End Report - May 12, 2014


Previous Units              7589
EXCH Sold                   1241
Less Buybacks              150
New Total Units            8680

Previous Balance          477.01421336
Price per EXCH             0.06474168
Gross Sales of EXCH      80.34442488

Less Fees                    0.32137787
Less Dividends              31.71273768
Less Buybacks              9.19363200
Less Mgmt Fee              1.78136863
Net Balance                  514.34952206

End of Period 9 NAV/U     0.05925685

New Difficulty                  8,853,416,309
New Daily Dividend         0.00028401
New Reserve per Unit        0.05680200

NAV/U Less New Reserve = 0.05925685 - 0.05680200 = 0.00245485

SELL Dividend                 0.00245485

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          0.05850606

[twentyseventy]

Divs were paid on time - one user sent back shares to be bought-back at 1140AM and I didn't see it until now. I should have made this more clear, but 11AM should be the cut off for these transactions.

It will be in the future; let me re-run the calculations and see what needs to be done.

[twentyseventy]

So, a user transferred 124 shares to be bought back at 1140AM, after I had already issued the report and scheduled the dividends.

This results in an increase to the NAV/U because the shares are bought back for 98% of NAV/U, meaning that the SELL div was slightly underpaid.

I've re-generated the report here; the short version is that the SELL div was underpaid by 1718 satoshis (.00001718 BTC) per share. This isn't much per share (less than 1% of the SELL div that was issued), but it does add up across nearly 9,000 shares.

I'm going to issue a second dividend for SELL today, for .00001718, to be paid at 1PM. Those that have already sold their SELL shares will not receive this dividend, as it will go to current holders of SELL. I apologize to those who will miss out on this, but it is a miniscule per-share amount and I will take steps in the future to ensure that this does not happen again.

In the future, all buy-backs will be halted at 11AM on the date that SELL Dividends will be paid.


I will re-enable the EXCH ask after the new SELL div is paid to ensure that no new shares are paid the dividend.

Period 9 End Report - May 12, 2014 - Version 2

Previous Units              7589
EXCH Sold                   1241
Less Buybacks              574
New Total Units            8556

Previous Balance          477.01421336
Price per EXCH             0.06474168
Gross Sales of EXCH      80.34442488

Less Fees                    0.32137787
Less Dividends              31.71273768
Less Buybacks              16.39452441
Less Mgmt Fee              1.78136863
Net Balance                  507.14862965

End of Period 9 NAV/U     0.05927403

New Difficulty                  8,853,416,309
New Daily Dividend         0.00028401
New Reserve per Unit        0.05680200

NAV/U Less New Reserve = 0.05927403 - 0.05680200 = 0.00247203

SELL Dividend                 0.00247203

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          0.05850606

[twentyseventy]

Period 10, Day 0 Report - May 12, 2014

Balance Post Divs: BTC 483.56795141

Total Units: 8556

NAV/U: BTC 0.05651799

PHEW.

SELL Div 2 Paid; Putting back up EXCH ask now.

[ZephramC]

Excellent and precise care as always! 

[twentyseventy]

Excellent and precise care as always! 

Thanks, I try 

[twentyseventy]

BIG sell-off on SELL today, interesting to hee how the market has reacted...

Period 10, Day 1 Report - May 13, 2014

Balance Post Divs: BTC 489.95619687

Total Units: 8711

NAV/U: BTC 0.05624568

[twentyseventy]

Period 10, Day 2 Report - May 14, 2014

Balance Post Divs: BTC 485.39838926

Total Units: 8673

NAV/U: BTC 0.05596660

[twentyseventy]

Period 10, Day 3 Report - May 15, 2014

Balance Post Divs: BTC 481.29827303

Total Units: 8643

NAV/U: BTC 0.05568648

[twentyseventy]

Period 10, Day 4 Report - May 16, 2014

Balance Post Divs: BTC 479.12785728

Total Units: 8648

NAV/U: BTC 0.05540331

[twentyseventy]

Will be out of town for the night, so report will be posted tomorrow. Dividends will be paid normally

[twentyseventy]

Period 10, Day 5 Report - May 17, 2014

Balance Post Divs: BTC 476.67173880

Total Units: 8648

NAV/U: BTC 0.05511930

[twentyseventy]

Period 10, Day 6 Report - May 18, 2014

Balance Post Divs: BTC 473.73202422

Total Units: 8639

NAV/U: BTC 0.05483644

[jjdub7]

hey TS - what's the average wait between transferring MINE/SELL to you and you logging in and transferring the funds?

EDit (reference) - talking about converting to EXCH shares for buyback

cool fund, btw.

[twentyseventy]

hey TS - what's the average wait between transferring MINE/SELL to you and you logging in and transferring the funds?

EDit (reference) - talking about converting to EXCH shares for buyback

cool fund, btw.

Thanks - average time is probably a few hours, depending on what time of day it is (and/or if I'm sleeping, of course). I have just cleared all buy-backs; I transfer the funds by actually issuing shares of SELL and buying them back for the NAV/U * 98% (since Havelock doesn't have a direct BTC transfer tool).