twentyseventy (OP)
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April 11, 2014, 01:21:34 AM |
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Auto-EXCH is now enabled!It's here! For real! Havelock officially debuted the Auto-EXCH functionality this evening and it is working like a charm! I even tested it out myself and received the shares immediately. It's supposed to do the exchange of shares in about a minute's time, so do give it a minute (literally) to see if it's been changed to MINE and SELL. I do consider this fair grounds to implement the Management Fee at the next Period, as that was the original plan. And it was my constant and annoying urging that finally pushed them through to get it done ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . Arbitrageurs now have a way to take care of price discrepancies within 60 seconds - a big advantage to them, so I believe that more than makes up for the 2% additional charge on new sales of EXCH. Happy trading!
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twentyseventy (OP)
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April 11, 2014, 01:36:37 PM |
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Period 7, Day 5 Report - April 10, 2014
Balance Post Divs: BTC 615.45481723
Total Units: 7663
NAV/U: BTC 0.08031512
Here's yesterday's report - this week has been extremely busy which is an aberration for me. The report will be issued at normal time today; tomorrow's will be posted in the evening.
Don't forget - Auto-EXCH is now enabled! - Enjoy!
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junkonator
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April 11, 2014, 01:39:03 PM |
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Cool! Looking forward. Also I don't have to feel bad for getting you auto-work ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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twentyseventy (OP)
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April 11, 2014, 04:13:50 PM |
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Period 7, Day 6 Report - April 11, 2014
Balance Post Divs: BTC 612.71751824 Total Units: 7668 NAV/U: BTC 0.07990577
Don't forget - Auto-EXCH is now enabled! - Enjoy! Cool! Looking forward. Also I don't have to feel bad for getting you auto-work ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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twentyseventy (OP)
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April 13, 2014, 01:07:05 AM |
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Period 7, Day 7 Report - April 12, 2014
Balance Post Divs: BTC 610.47169419
Total Units: 7679
NAV/U: BTC 0.07949885
Glad to see that the Auto-EXCH is being taken advantage of - over 500 shares sold after noon today!
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twentyseventy (OP)
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April 13, 2014, 04:20:01 PM |
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Period 7, Day 8 Report - April 13, 2014
Balance Post Divs: BTC 657.24526428
Total Units: 8286
NAV/U: BTC 0.07931996
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twentyseventy (OP)
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April 14, 2014, 04:36:28 PM |
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Period 7, Day 9 Report - April 14, 2014
Balance Post Divs: BTC 656.80188862
Total Units: 8322
NAV/U: BTC 0.07892356
Difficulty increase stalled there for a while and now it's back up - very interesting time for the network!
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twentyseventy (OP)
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April 15, 2014, 04:03:39 PM |
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Period 7, Day 10 Report - April 15, 2014
Balance Post Divs: BTC 658.56460329
Total Units: 8385
NAV/U: BTC 0.07854079
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twentyseventy (OP)
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April 16, 2014, 04:06:25 PM Last edit: April 16, 2014, 10:13:25 PM by twentyseventy |
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Period 7, Day 11 Report - April 16, 2014
Balance Post Divs: BTC 658.08055050
Total Units: 8421
NAV/U: BTC 0.07814755
Difficulty increase is dipping again, so it looks like the Increase will happen tomorrow after 12PM. If that's the case, then the SELL Div will be issued Friday.
If the Increase happens tomorrow (Thursday) before 1030AM, the SELL/MINE dividends should be issued at 12PM as usual. In the case that it happen somewhere between 1030AM - 12PM (as it looks like it might), the dividends will be issued at 1PM most likely.
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twentyseventy (OP)
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April 16, 2014, 10:28:22 PM |
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Had a question today regarding buy-backs; wanted to copy it here in case anyone else has questions about it- Currently, the fund will buy-back share pairs at NAV/U (net asset value per unit) less 2% (not plus 2%). The NAV/U is posted every day in the Bitcointalk thread ( https://bitcointalk.org/index.php?topic=430137.260). So, if you choose to initiate a buy-back before Noon, each share pair will be purchased for 0.07814755 * .98% = 0.07658459 per pair. If you choose to initiate a buy-back after Noon tomorrow (all times ET), it will be processed at that Daily NAV/U less 2%. If the difficulty changes before Noon, and you do not initiate a buy-back before Noon, then your shares will be paid the MINE and SELL dividends and the NAV/U will fall accordingly. If you do intend to initiate a buy-back, please let me know before 11AM if at all possible since I may have to do my report between 11AM and Noon tomorrow.
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twentyseventy (OP)
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April 17, 2014, 04:01:51 PM Last edit: April 17, 2014, 04:15:54 PM by twentyseventy |
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B.MINE holders rejoice as block generations slow a bit, allowing one more day of divs at the current rate! Period 7, Day 12 Report - April 17, 2014
Balance Post Divs: BTC 654.62053002 Total Units: 8421 NAV/U: BTC 0.07773667
EDIT: Updated the OP to show the Auto-EXCH functionality and to add the Management Fee verbiage. Mgmt fee begins on all sales of EXCH after tomorrow's Period Report and MINE/SELL Divs. Thanks to everyone who waited it out for this functionality to be enabled, I've been very happy with it so far and I hope you have as well!
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eltopo
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April 17, 2014, 04:19:25 PM |
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B.MINE holders rejoice as block generations slow a bit, allowing one more day of divs at the current rate! ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) I'm really wondering where those massive swings come from... +15 PH in a single day, and -15 PH the other day. That would be 15000 miners of the newest 1 TH generation hitting the network and then vanish again.... perhaps manufacturers "testing" their costumers hardware before shipping?
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twentyseventy (OP)
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April 17, 2014, 04:45:22 PM |
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I'm really wondering where those massive swings come from... +15 PH in a single day, and -15 PH the other day. That would be 15000 miners of the newest 1 TH generation hitting the network and then vanish again.... perhaps manufacturers "testing" their costumers hardware before shipping?
I've been pretty surprised to see the swings as well - I don't think anyone has come up with a great explanation for such a large swing besides new hardware manufacturers testing equipment (and luck of course). I certainly can't think of one. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F33yGwdN.png&t=665&c=qbqNHDqHFCsY0g)
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Xu
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April 18, 2014, 02:45:15 PM |
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The hash rate is computed based upon the daily average of found blocks and the current difficulty. It is not directly reported. So, the variance you see probably has more to do with the random luck of finding coins rather than the actual computing power of the network. So, if a bunch of blocks are found in a short period of time, the algorithm infers there was a large hash rate increase, even though the actual hash rate may have not changed. As the rate of finding blocks returns to normal, the inferred hash rate decreases. Since it is averaged over time, you see these relatively smooth rises and falls.
In short, the swings mean absolutely nothing other than pure variance. The longer term trend of course does indicate the increase in total network has rate.
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twentyseventy (OP)
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April 18, 2014, 03:53:24 PM |
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Period 7 End Report - April 18, 2014
Previous Units 5076 EXCH Sold 3347 Less Buybacks 2 New Total Units 8421
Previous Balance 417.12539620 Price per EXCH 0.08299776 Gross Sales of EXCH 277.79350272
Less Fees 1.11117401 Less Dividends 39.43174272 Less Buybacks 0.15969934 Net Balance 654.21628285
End of Period 7 NAV/U 0.07768866
New Difficulty 6,978,842,650 New Daily Dividend 0.00036030 New Reserve per Unit 0.07206000
NAV/U Less New Reserve = 0.07768866 - 0.07206000 = 0.00562866
SELL Dividend 0.00562866
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 0.07422180
Upon doing my Period audit, I noticed that the Fund's actual balance (vs. calculated balance) was too high by 0.404xxx BTC. After much searching (and gnashing of teeth), I tracked the surplus back to 4/5, which was the day of the last Sell Div / Period Report. Apparently, when the EXCH ask was placed back up at the new price, a user purchased 22 EXCH for the old EXCH price of 0.1014464200 each instead of 0.0829977600 each, causing him to overpay by that amount.
I'm not sure how it was possible for him to purchase at the old (higher) price as I always take down the EXCH ask while doing the report; it may have something to do with the fact that he purchased at the exact second that I put up the new EXCH ask (good reflexes perhaps). I even checked my records and I did put up the EXCH at the new, lower EXCH amount.
I'll speak to Havelock about the issue. I should have caught the surplus on 4/6 when I did the daily report and I apologize for that; I do have a side-by-side column for each amount built in to the sheet, but it seems that was not paying enough attention to the digits past the period. Normally, I check down to the Satoshi. I've now built in a very obvious double-check to keep this from happening in the future.
Overall, This means that the NAV/U was (very) slightly over-reported for the Period; a negligible amount when spread over six to eight thousand shares. I was the only person to request a buy-back during the Period (for 2 shares), meaning that I was over-paid back 0.0001474641 BTC, for which I will reimburse the fund. The report above also takes into account the refund of the overpayment to the user that bought EXCH for the old price, as that should have not been possible and was not due to user or Issuer error.
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twentyseventy (OP)
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April 18, 2014, 04:04:31 PM |
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Period 8, Day 0 Report - April 18, 2014
Balance Post Divs: BTC 603.78325069
Total Units: 8421
NAV/U: BTC 0.07169970
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twentyseventy (OP)
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April 18, 2014, 04:08:02 PM |
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The hash rate is computed based upon the daily average of found blocks and the current difficulty. It is not directly reported. So, the variance you see probably has more to do with the random luck of finding coins rather than the actual computing power of the network. So, if a bunch of blocks are found in a short period of time, the algorithm infers there was a large hash rate increase, even though the actual hash rate may have not changed. As the rate of finding blocks returns to normal, the inferred hash rate decreases. Since it is averaged over time, you see these relatively smooth rises and falls.
In short, the swings mean absolutely nothing other than pure variance. The longer term trend of course does indicate the increase in total network has rate.
Yes, that's what I meant when I was referring to 'luck' (miner's luck) in my previous post. eltopo and I are aware of how the network hashrate is estimated and that it could just be variance; to our eyes it looks like more than just miner's luck, but it's anyone guess!
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eltopo
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April 18, 2014, 05:21:04 PM |
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I know variance is a bitch, but really that much?! ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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twentyseventy (OP)
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April 19, 2014, 04:05:33 PM |
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Period 8, Day 1 Report - April 19, 2014
Balance Post Divs: BTC 608.17861768
Total Units: 8524
NAV/U: BTC 0.07134896
From here on out the balance and NAV/U do take accumulated management fees into account. Today's report also reflects my refund of 0.00014747 BTC to the fund for the buy-back overpayment due to the slightly increased NAV/U for the last period (say that five times fast!).
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twentyseventy (OP)
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April 20, 2014, 04:17:06 PM |
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Period 8, Day 2 Report - April 20, 2014
Balance Post Divs: BTC 610.58923837
Total Units: 8600
NAV/U: BTC 0.07099874
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