[Havelock] Bitcoin Difficulty Derivative (BDD)

[twentyseventy]

Hey all, dividends were scheduled to be paid today but the MINE balance hasn't been transferred from EXCH. Hope to have Havelock do that tomorrow and I'll pay the missed dividends out at that time. Happy New Year!

[twentyseventy]

Double Dividend paid today to make up for the missed day-

Round 2, Period 16, Day 3 Report - January 3, 2016

Balance Post Divs: BTC 37.78125900

Total Units: 3735

NAV/U: BTC 0.01011546


Round 2, Period 16, Day 4 Report - January 4, 2016

Balance Post Divs: BTC 35.97307080

Total Units: 3735

NAV/U: BTC 0.00963134

[twentyseventy]

Round 2, Period 16, Day 5 Report - January 5, 2016

Balance Post Divs: BTC 35.36301700

Total Units: 3866

NAV/U: BTC 0.00914718

[bileq]

i give a withdraw order but it still pending
what is waiting to ? transaction approved by manualy? or waiting to confirm by me? there is no confirmation mail on my box i dont know how the transactions working in there?

[twentyseventy]

Round 2, Period 16, Day 6 Report - January 6, 2016

Balance Post Divs: BTC 33.67331029

Total Units: 3887

NAV/U: BTC 0.00866305

i give a withdraw order but it still pending
what is waiting to ? transaction approved by manualy? or waiting to confirm by me? there is no confirmation mail on my box i dont know how the transactions working in there?

That's to do with Havelock - normally takes 24 hours in my experience.

[Icon]

i give a withdraw order but it still pending
what is waiting to ? transaction approved by manualy? or waiting to confirm by me? there is no confirmation mail on my box i dont know how the transactions working in there?

You only get email conformation if you don't use 2fa, and yes they charge .001BTC 1/2 to miners 1/2 for fast withdraw fees.. that can take up to 24 hours.. (or more if on weekends/holidays)

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[somecdnguy4]

Hey there,

I'm looking to invest my BTC, and I stumbled upon Havelock Investments. Could someone explain how someone purchasing B.MINE profits? I'm a bit confused about where the money is coming from. If people purchase 100 BTC worth of B.MINE, then won't B.MINE pay out 100 BTC worth of dividends throughout the round?

Thanks.

[twentyseventy]

Round 2, Period 16, Day 7 Report - January 7, 2016

Balance Post Divs: BTC 31.79153585

Total Units: 3887

NAV/U: BTC 0.00817893

[twentyseventy]

Hey there,

I'm looking to invest my BTC, and I stumbled upon Havelock Investments. Could someone explain how someone purchasing B.MINE profits? I'm a bit confused about where the money is coming from. If people purchase 100 BTC worth of B.MINE, then won't B.MINE pay out 100 BTC worth of dividends throughout the round?

Thanks.

Well, it's a bit complicated, so do take the time to read the OP - there's a lot of important information there. I would wait until the next Round of BDD starts, sometime in the next 15-45 days depending on difficulty increases. At the beginning (and most of the middle) of the Round the buyers of MINE and SELL are betting against each other. Each unit of EXCH purchased is split into 1 MINE and 1 SELL. If the NAV/U (the value of 1 MINE plus 1 SELL) is 1 BTC, for instance, and you purchase MINE, then the most you can profit is the value of 1 less the value of SELL.

So, if the market value of MINE was .9 and the market value of SELL is .1, then you'd buy 100BTC of MINE (~111 units) and have a chance at profiting .1 per share (11.1 BTC). That 'chance' depends on how the difficulty rises, or falls, and when it does so. Again, read the OP and then re-read it; it's very important.

[Temo58]

I see the resale value of the units going down quite quickly...any advice on how I should take that? Is it just generally accepted to be the way it will be? Or is this a sudden dump from someone?

[twentyseventy]

Round 2, Period 16, Day 8 Report - January 8, 2016

Balance Post Divs: BTC 29.90976141

Total Units: 3887

NAV/U: BTC 0.00769481

I see the resale value of the units going down quite quickly...any advice on how I should take that? Is it just generally accepted to be the way it will be? Or is this a sudden dump from someone?

This is BDD working how it is supposed to be - the NAV/U is decreasing steadily (as it has been for the whole Round) but, as a percentage decrease per day, it looks relatively large. If the price of MINE + SELL is more than the price of EXCH (NAV/U + 3%), then there is an arbitrage opportunity - buy EXCH and sell MINE and SELL into the market. I know for a fact that there is at least one person trading on this opportunity-

[Temo58]

Could you please advise how the hash rate is calculated? Is it based on the daily average of found blocks calculated with the current difficulty? I am thinking in terms of short/medium/long term variance.

Thank you

[twentyseventy]

Round 2, Period 16, Day 9 Report - January 9, 2016

Balance Post Divs: BTC 28.06403580

Total Units: 3892

NAV/U: BTC 0.00721069

[twentyseventy]

Round 2, Period 16, Day 10 Report - January 10, 2016

Balance Post Divs: BTC 26.17984076

Total Units: 3892

NAV/U: BTC 0.00672657

[twentyseventy]

Could you please advise how the hash rate is calculated? Is it based on the daily average of found blocks calculated with the current difficulty? I am thinking in terms of short/medium/long term variance.

Thank you

Sure, it's in the OP:

B.MINE’s daily dividend payout is calculated using the following formula:

B.MINE Hash Rate * Block Reward * 86400 * ((65535 / 2^48 )/Difficulty)

B.MINE Hash Rate is the set hash rate, in H/s (hashes per second) of B.MINE. This is set at 100GH/s (100,000,000,000 H/s)

Block Reward is the Bitcoin Network Block Reward for the current Difficulty. This is currently at 25 BTC per Block and will remain so until about sometime during 2016. However, When the actual Bitcoin Network Block Reward halves, this value will halve as well.

86400 is the number of seconds in a day, which is relevant because Bitcoin mining computation power is measured in hashes per second (H/s)

65535 / 2^48 is the constant which is divided by Difficulty to produce the likelihood of producing a Block in a single hash

Difficulty is the Bitcoin Network Difficulty at 12:00 PM Eastern Time on the day that dividends are paid out

[Icon]

.. Ya what he said above, that or an easier way is just use this site and type in 100 gh/s per 1 share you own.

https://alloscomp.com/bitcoin/calculator


Its 99.99% accurate of what you'll make each day

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[twentyseventy]

Round 2, Period 16, Day 11 Report - January 11, 2016

Balance Post Divs: BTC 24.29564572

Total Units: 3892

NAV/U: BTC 0.00624245

Its 99.99% accurate of what you'll make each day

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[twentyseventy]

Round 2, Period 16, Day 12 Report - January 12, 2016

Balance Post Divs: BTC 22.42296584

Total Units: 3894

NAV/U: BTC 0.00575833

[twentyseventy]

Round 2, Period 16 End Report - January 13, 2016

Previous Units              3712
EXCH Sold                   182
Less Buybacks              0
New Total Units        3894

Previous Balance          44.73684621
Gross Sales of EXCH      1.80799640

Less Fees                    0.00723199
Less Dividends              24.06221636
Less Buybacks              0
Less Mgmt Fee              0.05262825
Net Balance            22.42276601

End of Period NAV/U     0.00575828

New Difficulty                  113,354,299,801
New Daily Dividend         0.00044365
New Reserve per Unit        0.07985700

NAV/U less New Reserve = 0.00575828 - 0.07985700 = -0.07409872

SELL Dividend                 0 (Because there are less than 180 days of dividends on hand)

Days of Dividends On Hand   12.97

[twentyseventy]

Round 2, Period 17, Day 0 Report - January 13, 2016

Balance Post Divs: BTC 20.69539274

Total Units: 3894

NAV/U: BTC 0.00531468