[Havelock] Bitcoin Difficulty Derivative (BDD)

[metaperl]

Hello, this is a very impressive and deep product. I own 55 units and am happy to have found something that pays 1% daily that is indeed legitimate. I have a lot to learn, but wanted to start with one small thing I noticed.

If you look at the product description:
https://www.havelockinvestments.com/fund.php?symbol=B.EXCH

It states:

B.MINE and B.SELL must always be issued in equal amounts, and remain in equal amounts outstanding, to ensure that each B.MINE contract is backed by the funds of a B.SELL contract.

However, as you can see from my portfolio, I was able to buy B.MINE directly without purchasing B.EXCH and receiving a pair.
https://www.evernote.com/l/ATUH-MlOSQtO44obySPB_sHwokIBSphPplwB/image.png

[twentyseventy]

@twentyseventy

  Hey, just wondering if you were planning on getting caught up on issuing new units soon. Thanks

Sorry, just getting back from the trip now - should be on regular schedule from hereon out!

[twentyseventy]

Round 3, Period 19, Day 2 Report - November 8, 2016

Balance Post Divs: BTC 46.46122568

Total Units: 2746

NAV/U: BTC 0.01691960

Round 3, Period 19, Day 3 Report - November 9, 2016

Balance Post Divs: BTC 45.83308166

Total Units: 2749

NAV/U: BTC 0.01667263

Round 3, Period 19, Day 4 Report - November 10, 2016

Balance Post Divs: BTC 45.36725540

Total Units: 2762

NAV/U: BTC 0.01642550

Round 3, Period 19, Day 5 Report - November 11, 2016

Balance Post Divs: BTC 44.68621209

Total Units: 2762

NAV/U: BTC 0.01617893

Round 3, Period 19, Day 6 Report - November 12, 2016

Balance Post Divs: BTC 45.32131177

Total Units: 2845

NAV/U: BTC 0.01593016

Round 3, Period 19, Day 7 Report - November 13, 2016

Balance Post Divs: BTC 45.45213077

Total Units: 2898

NAV/U: BTC 0.01568396

[twentyseventy]

Round 3, Period 19, Day 8 Report - November 14, 2016

Balance Post Divs: BTC 45.58562336

Total Units: 2953

NAV/U: BTC 0.01543705

Round 3, Period 19, Day 9 Report - November 15, 2016

Balance Post Divs: BTC 44.72786697

Total Units: 2954

NAV/U: BTC 0.01514145

Hello, this is a very impressive and deep product. I own 55 units and am happy to have found something that pays 1% daily that is indeed legitimate. I have a lot to learn, but wanted to start with one small thing I noticed.

If you look at the product description:
https://www.havelockinvestments.com/fund.php?symbol=B.EXCH

It states:

B.MINE and B.SELL must always be issued in equal amounts, and remain in equal amounts outstanding, to ensure that each B.MINE contract is backed by the funds of a B.SELL contract.

However, as you can see from my portfolio, I was able to buy B.MINE directly without purchasing B.EXCH and receiving a pair.

While it pays what it pays currently, please be aware that there is a defined endpoint coming up in 60 Days, barring a big (huge) change in difficulty - this does not pay out perpetually. MINE and SELL are issued in equal amounts; you can see that there are exactly 2954 units of MINE and SELL each. You can purchase MINE and SELL on the open market by themselves, but new units are issued into the market only via purchase of EXCH.

[AllInBit]

@twentyseventy

   I saw you pulled the old units, are you planning on issuing new units today/tonight? Or you just gonna wait till tomorrow and put them up with double divs? Thanks for all the quick replies.

[twentyseventy]

Round 3, Period 19, Day 10 Report - November 16, 2016

Balance Post Divs: BTC 44.14588473

Total Units: 2954

NAV/U: BTC 0.01494444

@twentyseventy

   I saw you pulled the old units, are you planning on issuing new units today/tonight? Or you just gonna wait till tomorrow and put them up with double divs? Thanks for all the quick replies.

You hit it right on the nose; double divs will be issued Nov 17th for that day and the 16th; apologies-

[twentyseventy]

Round 3, Period 19, Day 11 Report - November 17, 2016

Balance Post Divs: BTC 43.41657167

Total Units: 2954

NAV/U: BTC 0.01469755

[twentyseventy]

Round 3, Period 19 End Report - November 18, 2016

Previous Units              2746
EXCH Sold                   209
Less Buybacks              0
New Total Units        2955

Previous Balance          48.05917716
Gross Sales of EXCH      3.46121683

Less Fees                    0.01384487
Less Dividends              8.41129541
Less Buybacks              0.00000000
Less Mgmt Fee              0.26122003
Net Balance            42.83403368

End of Period NAV/U     0.01449544

New Difficulty                  281,800,917,193
New Daily Dividend         0.00022307
New Reserve per Unit        0.04015260


NAV/U less New Reserve = 0.01449544  - 0.04015260 = -0.02565716

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

Days of Dividends On Hand   64.98

[twentyseventy]

Round 3, Period 20, Day 0 Report - November 18, 2016

Balance Post Divs: BTC 42.77209760

Total Units: 2954

NAV/U: BTC 0.01447448

Round 3, Period 20, Day 1 Report - November 19, 2016

Balance Post Divs: BTC 42.11292575

Total Units: 2954

NAV/U: BTC 0.01425141

[AllInBit]

@twentyseventy

     Just wanted to let you know that there hasn't been any units up for sale for the last few days, I'm sure you just forgot. One other thing. I thought the new units and the NAV used to be much closer in price. Like a dividend or two's worth difference. Am I missing something or am I just wrong. Thanks again.

[galactic123]

Seems interesting. Giving this a go.   

[twentyseventy]

@twentyseventy

     Just wanted to let you know that there hasn't been any units up for sale for the last few days, I'm sure you just forgot. One other thing. I thought the new units and the NAV used to be much closer in price. Like a dividend or two's worth difference. Am I missing something or am I just wrong. Thanks again.

Hi AllInBit,
You're always on top of it! I apologize that I have not been; it's a combination of a new job with long hours and having been locked out of my 2FA for the past few days (new phone). Regardless, I apologize for the downtime. I'm not able to do my updates from work now, so that's an extra complication that didn't use to exist.

New units will always be NAV/U + 3%; they don't necessarily have anything to do with the dividend size.

Havelock still needs to do some internal transfers so that I can keep paying dividends; I've got a few days until I hit that limit. That could cause a delay for a few days, but I'll keep you updated (essentially new units are 'deposited' into EXCH and they have to transfer it manually to MINE for me to pay dividends).

[twentyseventy]

Round 3, Period 21, Day 1 Report - November 20, 2016

Balance Post Divs: BTC 41.45375391

Total Units: 2955

NAV/U: BTC 0.01402834

Round 3, Period 21, Day 2 Report - November 21, 2016

Balance Post Divs: BTC 40.79458205

Total Units: 2955

NAV/U: BTC 0.01380527

Round 3, Period 21, Day 3 Report - November 22, 2016

Balance Post Divs: BTC 40.13541020

Total Units: 2955

NAV/U: BTC 0.01358220

Round 3, Period 21, Day 4 Report - November 23, 2016

Balance Post Divs: BTC 39.47623835

Total Units: 2955

NAV/U: BTC 0.01335913

Round 3, Period 21, Day 5 Report - November 24, 2016

Balance Post Divs: BTC 38.81706650

Total Units: 2955

NAV/U: BTC 0.01313606

Round 3, Period 21, Day 6 Report - November 25, 2016

Balance Post Divs: BTC 38.15789465

Total Units: 2955

NAV/U: BTC 0.01291299

We're in Period 21 now, not 20 - Updated.

[galactic123]

I have a few B.MINE shares.  Do I also need to get B.EXCH and B.SELL shares too to keep things going?   (I don't have a whole lot of bitcoin right now though)

[twentyseventy]

I have a few B.MINE shares.  Do I also need to get B.EXCH and B.SELL shares too to keep things going?   (I don't have a whole lot of bitcoin right now though)

No, you should really own either MINE or SELL, not both - Please be aware that there are approximately 54 days left of MINE dividends at the current rate and it looks like SELL will not receive a dividend at all (barring large consecutive jumps in the difficulty).

[twentyseventy]

Havelock is currently down ATM, will check later today to see if they're up-

[rexxarofmoknathal]

Any word on the situation? I just checked the site again, it's still offline.

As far as I remember, this stuff happens every now and again, so it'll be up again soon hopefully. But it is a little annoying that they don't keep us updated when this sort of thing happens.

[AllInBit]

Any word on the situation? I just checked the site again, it's still offline.

As far as I remember, this stuff happens every now and again, so it'll be up again soon hopefully. But it is a little annoying that they don't keep us updated when this sort of thing happens.

 They're back online now.

[twentyseventy]

Round 3, Period 21, Day 7 Report - November 26, 2016

Balance Post Divs: BTC 37.56191521

Total Units: 2960

NAV/U: BTC 0.01268983

Round 3, Period 21, Day 8 Report - November 27 , 2016

Balance Post Divs: BTC 36.90188625

Total Units: 2960

NAV/U: BTC 0.01246685

Round 3, Period 21, Day 8 Report - November 28 , 2016

Balance Post Divs: BTC 36.24159905

Total Units: 2960

NAV/U: BTC 0.01224378

Round 3, Period 21, Day 9 Report - November 29 , 2016

Balance Post Divs: BTC 35.62691245

Total Units: 2964

NAV/U: BTC 0.01201987

Any word on the situation? I just checked the site again, it's still offline.

As far as I remember, this stuff happens every now and again, so it'll be up again soon hopefully. But it is a little annoying that they don't keep us updated when this sort of thing happens.

 They're back online now.

Yep, just happens sometimes - back on track!

[twentyseventy]

Round 3, Period 21, Day 10 Report - November 30 , 2016

Balance Post Divs: BTC 35.03870956

Total Units: 2970

NAV/U: BTC 0.01179754

Round 3, Period 21, Day 11 Report - December 1, 2016

Balance Post Divs: BTC 34.51294595

Total Units: 2982

NAV/U: BTC 0.01157375

Havelock still hasn't made the transfer, so we've got 1 or 2 days left of dividends in the MINE account - trying to get in touch with them about it. Just for clarity - the BTC is just in the EXCH account (which I can't manually transfer; only they can) - it just needs to be transferred. This may delay dividends until they make the transfer.