μ - Bitcoin Venture Capital (Collecting Shareholders Data)

[friedcat]

I'm relatively active between 1:00AM to 3:00PM of forum time each day. Contacting me within this time interval could get quicker responses.

Announcement
In case of the possibility we could not receive the shareholders data, we begin collecting the claims ourselves.

Please send to (fnnirvana@gmail.com) your number of shares and your Bitcoin address for receiving dividends. Please annotate that they are MU shares to avoid confusion with ASICMINER or MOORE shares. You could accompany them with any evidence you think is OK to provide. It is highly recommended that you use an address that you have its private key. By that, you may enjoy more facilities provided by our future automatic migrating platform.

Happy investing! Best luck to you and ourselves.

What we do and how we are different
As we grow larger, we are probably getting many new and potential investors who don't have the time to study our history data of financial disclosure, our structure or policies. Here we explain μ with a shorter and clearer manner.

The business of μ contains:
1. investment on valuable new stocks and bonds.
2. market making.
3. arbitraging.
4. value investment on old existing assets.
5. providing loans.
6. funding startups outside the GLBSE system.
Now we are only doing 1-4. We may do 5 and 6 in the future, but we will be extremely careful and make sure that the involved risks are rigidly controlled.

What makes μ different:
1. We are a stock, not a bond. Which means that:
    (1) you can vote if you are one of the shareholders.
    (2) you actually own your portion of μ's net asset value.
    (3) you can give us public or private suggestions, which will possibly be accepted by the CEO and turned into motions.
2. Each of our mid-time or long-time positions was and will ever be assets with a business model that is sound, public, and easy to understand. We may participate in high-risk assets, but only for arbitraging, and we will keep the time of holding them as short as possible.
3. Our name is the shortest of all.

Weekly Financial Disclosure and Market Watch
March 28th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg822256#msg822256
  Investment Opportunity Study: https://bitcointalk.org/index.php?topic=70592.msg823936#msg823936
April 4th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg836060#msg836060
  Investment Opportunity Study: https://bitcointalk.org/index.php?topic=70592.msg836105#msg836105
April 11st
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg845965#msg845965
April 18th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg856501#msg856501
April 25th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg867599#msg867599
  The MU Index for GLBSE: https://bitcointalk.org/index.php?topic=70592.msg867695#msg867695
May 2nd
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg878181#msg878181
May 4th
  The MU Index for GLBSE: https://bitcointalk.org/index.php?topic=70592.msg882018#msg882018
May 9th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg889439#msg889439
May 13rd
  The MU Index for GLBSE: https://bitcointalk.org/index.php?topic=70592.msg897676#msg897676
May 16th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg902960#msg902960
May 23rd
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg915987#msg915987
May 25th
  The MU Index for GLBSE: https://bitcointalk.org/index.php?topic=70592.msg920938#msg920938
May 30th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg929873#msg929873
June 6th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg944067#msg944067
June 13rd
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg959191#msg959191
June 20th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg976412#msg976412
June 27th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg993086#msg993086
July 4th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1007353#msg1007353
July 11st
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1022545#msg1022545
July 18th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1037730#msg1037730
July 25th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1037730#msg1037730
August 1st
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1069580#msg1069580
August 8th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1085299#msg1085299
August 15th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1100792#msg1100792
August 22nd
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1122148#msg1122148
August 29th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1141655#msg1141655
September 5th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1161925#msg1161925
September 12nd
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1183811#msg1183811
September 19th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1202813#msg1202813
September 26th
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1221658#msg1221658
October 3rd
  Financial Disclosure: https://bitcointalk.org/index.php?topic=70592.msg1241274#msg1241274
Reserved

FAQ
Q: What is μ?
A: μ is a GLBSE-listed company which mainly focuses on the following businesses:
   1. We will evaluate each new company on GLBSE, and hold some part or all of its assets if we are convinced to. We may also directly fund private companies outside the GLBSE system. We make profits from the dividends of the assets we own, and(or) by selling the assets after their value increases. We can as well influence or control the policies of the target companies, if their policies are motion-based.
   2. We will provide short-term loans when we have spare funds and could not find enough appropriate assets to buy.
   3. We will hold some non-IPO assets if we believe that they are undervalued.

Q: How could I invest in it?
A: It is listed on GLBSE. The asset id is "MU".

Q: Why do you choose such a weird name?
A: It is inspired by Y Combinator.(http://ycombinator.com/) Basically, in Programming Language Theory, while the Y combinator is used for building recursive functions(terms), the μ operator is used for constructing recursive types. We are "recursive" in a sense that we are ourselves a startup company, which grows other startup companies, some of which might further grow more startup companies...

Q: Will I get scammed?
A: μ itself is not a scam. But considering the nature of our business, we may be scammed by our borrowers and other companies. Therefore, a more accurate question should be like "What are the risks?"

Q: So what are the risks?
A: 1. No matter how careful we are, we cannot totally exclude the possibility that the assets we buy are issued by a scammer.
    2. The assets we buy may not be as profitable as we think. Their value may even decrease after the IPO stage.
    3. The borrowers may not be able to pay our Bitcoins back.
    4. The profits of our company may not be as stable as those of mining companies, and so are the dividends.
    5. Our evaluation of "undervalued assets" may be wrong.
    6. If the price of Bitcoin drops dramatically, you may not be able to get enough compensation from selling hardwares as mining companies do.

Q: Given so many risks, what could I expect from μ?
A: We are probably the most ambitious startup in GLBSE so far. If bad things do not happen, by investing in μ you will:
   1. Enjoy the fruit of our dramatic growth. We will continuously use some of our incomes to fund more and more startups. The dividends are expected to grow exponentially for a considerable time before slowing down. It is even possible that the McDonalds or Facebook of Bitcoin will be funded by us in the near future!
   2. Save your precious time and energy. You do not need to seek or evaluate investment opportunities yourself. We will constantly track the price of the assets we hold and sell them when necessary. We will contact, inquiry, and negotiate with new IPO issuers. We will also do other tedious but necessary work.

Q: How could you persuade me that you could make right judgments and good investments?
A: Unfortunately we couldn't. We can only assure you that we have enough incentive(our own shares and fees) for that. We will do very serious investigation before using our funds, and will raise motions when making critical investment choices.

Q: How do you create shares?
A: 10,000 shares will be created. Each one will be sold at the price of 0.1BTC. We will buy some of the shares ourselves, but no more than 10%. More shares may be created and sold in the future, but only after a motion with 75% of the votes or more to agree.

Q: How do you pay me dividends?
A: As soon as a single share is sold, we will start to pay dividends.
    35% of the profits will be paid to shareholders each Wednesday.
    60% will be reserved for future expansion.
    We will take 5% ourselves as operating fee. This part may be used for expansion of the company too, but not necessarily so.
    The ratio is subject to change, but only after a motion with 75% of the votes or more to agree.
    The profits include all dividends we receive, the net gains of selling existing assets, and the interest paid by our borrowers.

Q: 1000BTC is not a very small amount of money. Do we really have enough qualified companies to invest in, at this moment?
A: Probably not. But we probably will not be able to sell all our shares very quickly either. Remember, our approach is rather incremental: as said in the last Q&A, we will start our business immediately after the first single share is sold. As we wait for new IPOs to hunt, our investors might also be waiting too. Our fundraising will be completed only when we could see some first-stage success.

Q: What information are you willing to disclose?
A: We plan to disclose the following information each week:
   1. Our available funds.
   2. Our weekly incomes.
   3. The assets we hold, including their initial price, the number, and their last dividends paid.
   4. The loans we make, including the volume, the interest rate, and the repayment date.
   5. The results of motions.

Q: What will happen before the company ceases to exist?
A: In very unfortunate conditions, μ might be liquidated. We will collect all debts and sell all assets we hold, then use the Bitcoins we make in this process as the total price to buy all the shares back.

Q: In what kind of circumstances a motion will be raised?
A: 1. Before the creation of new shares.
    2. Before changing the ratio of profits as dividends.
    3. Before a major buying or selling of assets.(For example, buying more than 50% of an IPO stock)
    4. Before making a loan.
    5. Before μ's liquidation.

Q: I want to create a startup company. What should I do to get your help and how could you help me?
A: We strongly suggest you to announce your company on this forum, list it on GLBSE, and provide the details as much as you can. In short, you should pretend that we do not exist at all. If you can get the approval of the public, you may be able to attract us. We can help you shorten your IPO cycle by buying up a large portion or all of your shares at once. We also give you free advice.
   If you do not want to make your company public for some reason, we could discuss our investment privately. However, this is a much harder way to gain our trust.

Q: Who are "we" in this FAQ?
A: Currently it's just me. I'm a Chinese Bitcoin user and live in Suzhou, China.

Q: Your name is freaking me out. Why do you have to use an id like this?
A: It has nothing to do with cats-cooking. Although in some East Asian countries quite a few people include cats or dogs in their diet, I am myself sick of the idea of eating cats or dogs.  "friedcat" is just my nickname, and it has lasted for many years. I used it for signing up many other websites.

Updates before the first round IPO
Thoughts on the first-stage business: https://bitcointalk.org/index.php?topic=70592.msg814084#msg814084
Example about how our dividends are calculated: https://bitcointalk.org/index.php?topic=70592.msg815227#msg815227
Materials are sent for identity verification: https://bitcointalk.org/index.php?topic=70592.msg815670#msg815670
Some missed investment opportunities: https://bitcointalk.org/index.php?topic=70592.msg816924#msg816924
Numeric estimate about our growth: https://bitcointalk.org/index.php?topic=70592.msg816991#msg816991
News of March 25th: https://bitcointalk.org/index.php?topic=70592.msg818568#msg818568
News of March 26th: https://bitcointalk.org/index.php?topic=70592.msg819814#msg819814
News of March 27th: https://bitcointalk.org/index.php?topic=70592.msg821738#msg821738

Extra Words
Any questions and advice are appreciated. We are very glad to hear from you.

[1715504122]

1715504122

[1715504122]

1715504122

[1715504122]

1715504122

[Nefario]

friedcat has verified their identity with two forms of photo ID.

Phone and address verification still to be done.

Nefario.

[John (John K.)]

Watching.

[friedcat]

Update

I replied Nefario's call for identification.
The IPO will begin after I pass the verification process.

Thanks to everyone who are interested in muBit, and I'm sincerely in need of your advice and criticisms, on my way of doing business, my IPO details, my poor English skills, and everything else.

[phelix]

subscribing

Please look at and learn from the LIF disaster. I hope you will do much better.

[friedcat]

subscribing

Please look at and learn from the LIF disaster. I hope you will do much better.

I had some brief impression about the dead assets named LIF, LIF.A, LIF.B, etc before.

Then I studied the case of LIF as you suggested. It is probably a fraud. If he indeed lost his
coins unintentionally, he could stand out and explain, but it seems that he just disappeared.

We are doing honest business, and we are going to keep our financials entirely open
from the very beginning. But thanks for pointing out the LIF disaster for us. We will
be more careful about keeping the investors' money safe.

This LIF thing must have introduced considerable distrust against the GLBSE investment funds in general
to the Bitcoin community. It might be one of the major blocks to our business. But we have to overcome this.

[Coinabul]

What's your experience, if any, with startups?

Let me know if you need any help!

[friedcat]

What's your experience, if any, with startups?

Let me know if you need any help!

Frankly we have no first-hand experience with startups yet. We have some basic training on economics, some knowledge about finance, and understand some basic principles on how to start and run a business. But no, we haven't started or worked for any startups before.

We really appreciate your kind offering of help. We will ask for your advisory if we need aid and guidance. Thank you very much.

[finway]

I want to know how this going.

[friedcat]

I want to know how this going.

The IPO hasn't been started yet. We are still making preparations about the identity verification
and first-stage business plans.

[friedcat]

Update

Here is some brief discussion of our initial business plans.

We are considering including some of the following assets in our portfolio.
You could certainly directly invest in some of them without muBit. But we will
maintain the portfolio, selling assets when profitable, reinvesting in new IPOs, etc, all
of which you might not have enough time to do. It's basically an exchange between paying a 5% fee
and constantly doing the VC job yourself.

Planned IPOs

https://bitcointalk.org/index.php?topic=66204.0
Pros: The 6990s are easy and fast to get. The power price in the CEO's place is very low, and will
possibly even be lower in the future.
Cons: The IPO hasn't been started. And it will take some time to collect a total volume of 1000BTC
according to the OP.

Underway IPOs

RSM (https://bitcointalk.org/index.php?topic=63257.0)
Pros: It is claimed to have a higher ROI than most of the other mining companies.
Cons: Its IPO is significantly slowed down by the CEO's frequent unexpected change of plans. This might
further damage the price after the IPO stage.

TyGrr-Bank (https://bitcointalk.org/index.php?topic=67818.0)
Pros: It has a high interest rate. If the CEO does not decide to sell more shares in the short term,
the price might rise significantly.
Cons: The interest rate may reduce in the future.

Cognitive (https://bitcointalk.org/index.php?topic=67547.0)
Pros: It is an x6500 FPGA based company. We have the history performance data of an existing x6500 FPGA company as our reference. The price of each FPGA.contract's share increased by about 40% between the IPO period to now.
Cons: The MH/$ of x6500 is lower compared to GPUs and BFL Singles. In the foreseeable future, BFL-based mining companies might thrive, attracting people's investments away from x6500 miners.

[Kaos]

If it's not a scam, then may the Satoshi be with you!

"mu" is listed but last time I checked did not have a price set...


Kinda Off Topic, but Nefario, thank you very much both for setting up GLBSE (such a great tool) but also for your due diligence.

[friedcat]

If it's not a scam, then may the Satoshi be with you!

"mu" is listed but last time I checked did not have a price set...


Kinda Off Topic, but Nefario, thank you very much both for setting up GLBSE (such a great tool) but also for your due diligence.

Of course it does not have a price set yet. I haven't started to sell the shares.

[friedcat]

Update

Example about how our dividends are calculated:

Profits from assets

Assume we have hold 100 shares of a stock A, each share of which
was initially bought with the price of 1BTC. The first week we received 0.02BTC
per share, that is 2BTC in total. Then we pay 35%*2=0.7BTC as our dividends,
charge 5%*2=0.1BTC as fee, and reserve 60%*2=1.2BTC for future expansion.

Then, the price of the stock rose to 3BTC per share, and we decided to sell 20
shares of them. After selling, we get 60BTC. The 20 shares we sold is originally
bought with 20BTC, therefore the net profit is 60-20=40BTC. Then we pay 35%*40=14BTC
as our dividends, charge 5%*40=2BTC, and reserve 60%*40=24BTC for future expansion.
We also have 20 extra BTC left, which does not belong to the net profit, but the return of original cost.
This part of funds is also used for re-investments.

Profits from loans

Assume that we lend 100BTC to some one. She paid back 105BTC after a week.
The net profit is 105-100=5BTC. Then we pay 35%*5=1.75BTC as our dividends,
charge 5%*5=0.25BTC as fee, and reserve 60%*5=3BTC for future expansion.
We also have 100 extra BTC left, which does not belong to the net profit, but the return of original cost.
This part of funds is also used for re-investments.

[friedcat]

Update

We have prepared for the materials needed to prove our identity. They are already sent to Nefario for verification.

The IPO has not been started yet.

If you are interested in investing, please be patient. It is the first time we start a startup, and we want to get everything
right before actual fundraising.

If you are still suspicious of muBit, we are here to answer every questions you ask, and will do our best to explain any aspects
of our business plan to you.

[friedcat]

Update

The IPOs of TyGrr-Bank(https://bitcointalk.org/index.php?topic=67818.0) and
Cognitive(https://bitcointalk.org/index.php?topic=67547.0) are already finished.

This news is either bad or good depending on how we see it. It is a bad news because we are too late to
catch on (both of them have a apparent tendency to hugely increase in value). But
at the same time, it is a good news in the sense that the volume of cash flow in GLBSE is way more
than we thought, therefore the possibility of new startups with great potential appearing
soon is also higher than we expected.

Nevertheless, we still decide not to delay our IPO date. We will actively pursue new
high-return and safe investment opportunities with our funds, which is all what muBit does anyway.

[friedcat]

Update

Here is a very rough estimate about our growth in six months.
The calculations are based on the assumption that we do not
issue new shares and merely use our net incomes to do expansion.

Very conservative

Assume all our funds after the IPO are invested to several companies which
have a similar average return rate and value as PureMining, which has a monthly
ROI of 6.40% and the price per share rose from 0.32 to 0.36 (bid price,
12.5% increase) after the IPO. We also assume the price keeps steady at 0.36,
and has an enough level of liquidity.

Then, we suppose a new startup with a similar performance as PureMining will be
started and invested by us each month. Our strategy is to sell 10% of all our holding
assets to buy new IPO assets.

Our total assets will be 1000 BTC*(1+(6.40%+10%*12.5%)*60%)^6=1309 BTC.

Then if we decide at this time to temporarily stop expansion and pay all
net incomes excluding the 5% fee as dividends, we now can have:
1309*6.40%*95%=79.59 BTC of dividends. If you are an early investor who
bought our IPO, you will enjoy a monthly ROI of about 8% from then.

Very optimistic

Assume all our funds after the IPO are invested to several companies which
have a similar average return rate and value as TyGrr-Bank, which has a monthly
ROI of 13.75% and the price per share is assumed to be rising from 0.1 to 0.2 (100% increase)
after the IPO. We also assume the price keeps steady at 0.2, and has an enough level of liquidity.

We also suppose a new startup with a similar performance as TyGrr-Bank will be
started and invested by us each month. Our strategy is to sell 10% of all our holding
assets to buy new IPO assets.

Our total assets will be 1000 BTC*(1+(13.75%+10%*100%)*60%)^6=2224 BTC

Then if we decide at this time to temporarily stop expansion and pay all
net incomes excluding the 5% fee as dividends, we now can have:
2224*13.75%*95%=290.51 BTC of dividends. If you are an early investor who bought
our IPO, you will enjoy a monthly ROI of about 29% from then.

[memvola]

Subscribing because I seem to be missing a lot of GLBSE stuff.

This LIF thing must have introduced considerable distrust against the GLBSE investment funds in general
to the Bitcoin community. It might be one of the major blocks to our business. But we have to overcome this.

Definitely! Diligent transparency will go a long way.

[stochastic]

subscribing

Please look at and learn from the LIF disaster. I hope you will do much better.

+1 on this.  Especially when there are only about 25 equities to really trade on GLBSE.

[friedcat]

Subscribing because I seem to be missing a lot of GLBSE stuff.

This LIF thing must have introduced considerable distrust against the GLBSE investment funds in general
to the Bitcoin community. It might be one of the major blocks to our business. But we have to overcome this.

Definitely! Diligent transparency will go a long way.

Yes. We are taking an approach that's as transparent as possible.

Actually, it will introduce some drawbacks. For example, when we become a significant player on the GLBSE market, people will watch our portfolio and and try to take advantage of us by predicting what we will do next.

However, openness is our chosen way of running muBit, and we will stick to it.

[Kluge]

Subscribing. I will note for those on the fence that many favorable deals arrive by having a large quantity of funds and making it known you're looking for investments, though investments certainly don't have to be done exclusively through GLBSE.

If it is not known you have a large amount of funds and are investing, you will receive no offers. If you let it be known you are investing but do not have a lot of cash-on-hand, you miss out on a lot of great opportunities, and kick yourself every day after you've had to pass on it.

Pooling investment and lending to (or buying shares in) those with ideas & means to implement those ideas is a very wise move -- it gives the producers an idea of who to go to for funding. I understand how negatively group-think and centralization can be perceived, but it does have practical value in some applications. In the end, dis-associating yourself with a group is as simple as selling your shares/bonds/CDs/whatever.

[friedcat]

Subscribing. I will note for those on the fence that many favorable deals arrive by having a large quantity of funds and making it known you're looking for investments, though investments certainly don't have to be done exclusively through GLBSE.

If it is not known you have a large amount of funds and are investing, you will receive no offers. If you let it be known you are investing but do not have a lot of cash-on-hand, you miss out on a lot of great opportunities, and kick yourself every day after you've had to pass on it.

Pooling investment and lending to (or buying shares in) those with ideas & means to implement those ideas is a very wise move -- it gives the producers an idea of who to go to for funding. I understand how negatively group-think and centralization can be perceived, but it does have practical value in some applications. In the end, dis-associating yourself with a group is as simple as selling your shares/bonds/CDs/whatever.

Well, please excuse my ignorance, but your three paragraphs are maybe the hardest English text for me to read in this forum. (English is not my first language, and I still somehow suck on it) Could you please bother to interpret a little more? Thank you very much.

[Kluge]

Subscribing. I will note for those on the fence that many favorable deals arrive by having a large quantity of funds and making it known you're looking for investments, though investments certainly don't have to be done exclusively through GLBSE.

If it is not known you have a large amount of funds and are investing, you will receive no offers. If you let it be known you are investing but do not have a lot of cash-on-hand, you miss out on a lot of great opportunities, and kick yourself every day after you've had to pass on it.

Pooling investment and lending to (or buying shares in) those with ideas & means to implement those ideas is a very wise move -- it gives the producers an idea of who to go to for funding. I understand how negatively group-think and centralization can be perceived, but it does have practical value in some applications. In the end, dis-associating yourself with a group is as simple as selling your shares/bonds/CDs/whatever.

Well, please excuse my ignorance, but your three paragraphs are maybe the hardest English text for me to read in this forum. (English is not my first language, and I still somehow suck on it) Could you please bother to interpret a little more? Thank you very much.

Sorry about that. I was trying to suggest to potential investors (and those who just hold their Bitcoins) that they'll be exposed to much more favorable deals by pooling their money with an organization like muBit which will be well-known.

Rather, if Bitcoin-CorporationX is seeking to deal with just a few investors, they will not send a message to 50+ individual investors, they'll go to maybe 3-5 collectives like muBit, and collectives like muBit will be the ones with access to the best deals. A large collective will also have an advantage (compared to individuals) with information. While a company or individual will likely answer many questions for a potential large investor, one person with a few BTC to throw around probably won't receive nearly the amount of attention.

[friedcat]

subscribing

Please look at and learn from the LIF disaster. I hope you will do much better.

+1 on this.  Especially when there are only about 25 equities to really trade on GLBSE.

This is our main concern too. There could not be that many great investment opportunities
in a mere number of 25 or so stocks and bonds currently. But at least we have these two things to do about this:

1. As said in the OP, we will try to make loans when we have spare funds and there are temporarily no
proper equities to invest in. The number of coins sleeping there without making any wealth should
be as small as possible.

2. We will report the nature of our business and the current GLBSE market condition when IPO starts,
and probably every week since then. In fact, we have already been discussing them now in the updates
of our thread. We suggest investors to read through this thread and make thorough considerations before
actually putting anything in muBit.

[friedcat]

Subscribing. I will note for those on the fence that many favorable deals arrive by having a large quantity of funds and making it known you're looking for investments, though investments certainly don't have to be done exclusively through GLBSE.

If it is not known you have a large amount of funds and are investing, you will receive no offers. If you let it be known you are investing but do not have a lot of cash-on-hand, you miss out on a lot of great opportunities, and kick yourself every day after you've had to pass on it.

Pooling investment and lending to (or buying shares in) those with ideas & means to implement those ideas is a very wise move -- it gives the producers an idea of who to go to for funding. I understand how negatively group-think and centralization can be perceived, but it does have practical value in some applications. In the end, dis-associating yourself with a group is as simple as selling your shares/bonds/CDs/whatever.

Well, please excuse my ignorance, but your three paragraphs are maybe the hardest English text for me to read in this forum. (English is not my first language, and I still somehow suck on it) Could you please bother to interpret a little more? Thank you very much.

Sorry about that. I was trying to suggest to potential investors (and those who just hold their Bitcoins) that they'll be exposed to much more favorable deals by pooling their money with an organization like muBit which will be well-known.

Rather, if Bitcoin-CorporationX is seeking to deal with just a few investors, they will not send a message to 50+ individual investors, they'll go to maybe 3-5 collectives like muBit, and collectives like muBit will be the ones with access to the best deals. A large collective will also have an advantage (compared to individuals) with information. While a company or individual will likely answer many questions for a potential large investor, one person with a few BTC to throw around probably won't receive nearly the amount of attention.

Thanks for your elaboration. Now I understand you without difficulty.

Yes, these are the advantages of having collectives like investment funds. Their negotiation power, their reduction of costs, and probably their higher priority as funding providers all contribute to their advantages.

While the downside of collectives, I think, is that they introduce an extra layer of indirection, and hence some extra risks, especially when they are on their infancy.

[Philj]

I missed the cognitive IPO waiting on funds to be deposited, but I'll be sure to get in on this one. If people reading your records and just copying you is an issue, then you can always remain fully open, but publish on a delay of a week or something. Best of luck to you guys.

[friedcat]

I missed the cognitive IPO waiting on funds to be deposited, but I'll be sure to get in on this one. If people reading your records and just copying you is an issue, then you can always remain fully open, but publish on a delay of a week or something. Best of luck to you guys.

Thanks very much for your wishes. And thanks more for your advice.

We are not especially worried about anyone copying our investment tactics. What we are worried about most, is that once people know
we have new IPOs as our preys and we have to sell some of our assets to re-invest, they would take advantage of the
fact that a large selling is coming, then collectively lower the price to make a profit and hurt us.

However, no choice is without tradeoffs. We choose to disclose a lot of information to gain trust. If we take a more secret way, we may be able to have the advantage of acting secretly, but there will probably be more people who don't believe us.

[Nefario]

We'll be switching over to 2.0 in the next few hours, this means GLBSE will be down for one or two hours.
Assets,shares and bitcoin will be carried over, history (for the moment) will not.

Nefario

[HorseRider]

Maybe you should focus on the dividend growth, the book value of the portfolio, rather than the share price. As 1000 BTC player on the GLBSE, you can hardly realize such kind of price increase in a IPO-buy-in-then-resell-it cycle. Because after the IPO, the liquidity is very against your plan.

It's only possible that you research the company seriously and hold them to have the dividend and growth.

The overall return to your shareholders will be very much close to the oeverall ROE of the companies you bought. Prices of some of the shares will rise, like Cognitive or BTCSYN, but some of them will fall, as RSM, a company with a mean and fishy CEO. And the liquidity is really a problem for the buy-and-run strategy. you cannot avoid buying in RSM like company. The GLBSE is a very self-regulated market.

I will buy some shares of this fund. Maybe you should chose some good company to hold for a longer time, not so many buy-IPO-and-run job.

[friedcat]

Maybe you should focus on the dividend growth, the book value of the portfolio, rather than the share price. As 1000 BTC player on the GLBSE, you can hardly realize such kind of price increase in a IPO-buy-in-then-resell-it cycle. Because after the IPO, the liquidity is very against your plan.

It's only possible that you research the company seriously and hold them to have the dividend and growth.

The overall return to your shareholders will be very much close to the oeverall ROE of the companies you bought. Prices of some of the shares will rise, like Cognitive or BTCSYN, but some of them will fall, as RSM, a company with a mean and fishy CEO. And the liquidity is really a problem for the buy-and-run strategy. you cannot avoid buying in RSM like company. The GLBSE is a very self-regulated market.

I will buy some shares of this fund. Maybe you should chose some good company to hold for a longer time, not so many buy-IPO-and-run job.

you're interested and investing in a 3% per week return company? wow. GL.

Thank you very much for your advice. We are thinking about the same problem too.

We were planning to take an approach which is a hybrid of "hold&gain" and "IPO&run". It seems that we were too optimistic about the second one. When liquidity becomes our enemy, we will keep more shares unmoved and profit from the dividends, as you suggested.

But anyway, no matter we choose the hold&gain approach or the IPO&run approach, we could not totally avoid buying RSM-like shares. And on the other hand, no matter what approach we take, we have to try our best to avoid the RSM-like trap. (To the CEO of RSM: we are not criticizing your company and you in person, and we are just objectively pointing out that your constantly changing of plans is a bad business practice, which has been severely delaying your IPO and crippling the price of your shares.)

The market price and the actual value are two faces of the same coin. In the future, when the GLBSE market grows bigger, we hope that liquidity will become a less concern.

I don't quite understand your last paragraph. My English level is not enough for me to distinguish sarcasm from normal statements. We are interested in TyGrr-Bank, and we are aware of that it won't last long before the CEO buys them back. In fact, we are interested in every asset on GLBSE, but interest is different to investment choice. We will not necessarily invest in TyGrr-Bank, and currently it's just myself putting a relatively small volume of my own Bitcoins into it.

[friedcat]

Update

News

GLBSE2.0 is out. We have already migrated to GLBSE2.0 without problem.
But it seems that it has some issues on migrating, reported by others:
https://bitcointalk.org/index.php?topic=60489.msg818498#msg818498
as well as dividend payments:
https://bitcointalk.org/index.php?topic=65569.msg818433#msg818433 (Update: this seems to be already fixed, according to Nefario)

The IPO details of a new GPU farm which has inexpensive power will be out:
https://bitcointalk.org/index.php?topic=66204.msg817772#msg817772

[HorseRider]

now there is trading fees on GLBSE 2.0. the liquidity problem will be even worse.

[friedcat]

now there is trading fees on GLBSE 2.0. the liquidity problem will be even worse.

Agreed. At least the 0.5% ratio is a bit too high.

[friedcat]

Update

News

We have now been partly verified by Nefario:
https://bitcointalk.org/index.php?topic=70592.msg813767#msg813767

It is said by the CEO of RSM that they will use a new kind of FPGA chips, but we are not convinced:
https://bitcointalk.org/index.php?topic=63257.msg819666#msg819666
https://bitcointalk.org/index.php?topic=63257.msg819672#msg819672

The new mining farm we have been interested in will be named as "Fresca", but its plan was largely changed,
now it seems that it's not profitable at all:
https://bitcointalk.org/index.php?topic=74044.0

GLBSE is having a non-critical security risk:
https://bitcointalk.org/index.php?topic=73910.msg818978#msg818978

[friedcat]

Update

Our IPO has finally started!

News

A new mining bond is about to appear:
https://bitcointalk.org/index.php?topic=74154.0

A fund which seems to be doing secondary loaning is listed on GLBSE:
https://bitcointalk.org/index.php?topic=74216.0

[HorseRider]

The GLBSE will be offering the market maker a very low trading fee rate. So large and professional fund manager can make profit through MM. I bought some shares of mu.

[friedcat]

The GLBSE will be offering the market maker a very low trading fee rate. So large and professional fund manager can make profit through MM. I bought some shares of mu.

Thanks for reminding us! We haven't thought about this before.

But as our comprehension of MM, it needs some kind of frequent follow-up of the market. This is what we are not able to do currently. But it seems to be quite a promising business in the future.

[friedcat]

Weekly financial disclosure

Time: 6:34 PM, Beijing time
Date: Mar. 28, 2012

Initial Funds Before IPO: 0.045 BTC
Shares Sold: 704
Gross Income: 70.400 BTC
GLBSE Trading Fee: 0.352 BTC
Net Income: 70.048 BTC
Total Funds: 70.048+0.045=70.093 BTC
Dividends Paid: 0.045 BTC
Spent Funds: 0.000 BTC
Usable Funds: 70.048 BTC

We haven't invested in any assets yet. The dividends comes from a very small number initial funds which is too tiny to withdraw and annoying for future accounting. We also use this payment to test the GLBSE2.0 dividends payment system.

[friedcat]

While investors are buying shares of muBit, we are gradually buying some of them as well.

Note that 100% of the shares are being selling to public. We do not reserve any of the shares. This is to say, the only cost of each share for the shareholder is the 5% fee. We ourselves hold some of the shares only via buying.

And also, as said in the OP, we promise that we will not hold more than 10%. Therefore we are guaranteed to be incapable of influencing the results of motions too much.

[HorseRider]

While investors are buying shares of muBit, we are gradually buying some of them as well.

Note that 100% of the shares are being selling to public. We do not reserve any of the shares. This is to say, the only cost of each share for the shareholder is the 5% fee. We ourselves hold some of the shares only via buying.

And also, as said in the OP, we promise that we will not hold more than 10%. Therefore we are guaranteed to be incapable of influencing the results of motions too much.

Usually it's a very positive signal for an asset manager put his own money into the fund he is managing. I think after the IPO, you can public the number of shares you hold to the public, since GLBSE is still not with this function.

The fee structure of this fund is much better than other fund in the capital market, which charges 2% management fee per year and 20% of carried interest. The famous donation fund manager David F. Swensen hate such kind fee structure very much. muBit is starting a good and new practice for the asset management industry.

I only hope that you will be more diligent towards the risks. Some investment opportunity looks have very high rate of return, but it's dangerous.

[friedcat]

While investors are buying shares of muBit, we are gradually buying some of them as well.

Note that 100% of the shares are being selling to public. We do not reserve any of the shares. This is to say, the only cost of each share for the shareholder is the 5% fee. We ourselves hold some of the shares only via buying.

And also, as said in the OP, we promise that we will not hold more than 10%. Therefore we are guaranteed to be incapable of influencing the results of motions too much.

Usually it's a very positive signal for an asset manager put his own money into the fund he is managing. I think after the IPO, you can public the number of shares you hold to the public, since GLBSE is still not with this function.

The fee structure of this fund is much better than other fund in the capital market, which charges 2% management fee per year and 20% of carried interest. The famous donation fund manager David F. Swensen hate such kind fee structure very much. muBit is starting a good and new practice for the asset management industry.

I only hope that you will be more diligent towards the risks. Some investment opportunity looks have very high rate of return, but it's dangerous.

Yes, we will make the portion of the shares we bought public after the IPO.

We are and will be always careful about the investment we make. Even when there is some high risk investment opportunity that we ourselves are interested in and convinced, we will still open up a motion for all our shareholders to decide.

[friedcat]

The financial disclosure of the first week is out:

https://bitcointalk.org/index.php?topic=70592.msg822256#msg822256

It is not that interesting though, since our IPO has just started and we haven't yet invested in any assets now. The only thing to mention is that we paid a very small number of dividends to clean up our initial funds (existed before the IPO, too tiny to withdraw) and test the GLBSE dividend payment system.

[friedcat]

Weekly Investment Opportunity Study

Gigamining is about to provide a bond each of which sold at 1BTC and represents 5MH/s of mining power. It's more profitable than PureMining if the price doesn't change in its actual IPO. The problem is that "soon" in BFL's term might mean anything from two months to the end of time.
https://bitcointalk.org/index.php?topic=74154.0

There are some Cognitive shares asked at a price less than 105% of the IPO price.

Fresca Mining is planning to further reduce its IPO price. We hope they could finally provide a good deal.
https://bitcointalk.org/index.php?topic=74044.0

TyGrr-Bank will reduce its interest rate to 2.5% from Apr. 3rd.
https://bitcointalk.org/index.php?topic=67818.0

TyGrr-Bot is already selling its IPOs.
https://bitcointalk.org/index.php?topic=74291.0

[Kaos]

Weekly Investment Opportunity Study

Gigamining is about to provide a bond each of which sold at 1BTC and represents 5MH/s of mining power. It's more profitable than PureMining if the price doesn't change in its actual IPO. The problem is that "soon" in BFL's term might mean anything from two months to the end of time.
https://bitcointalk.org/index.php?topic=74154.0

There are some Cognitive shares asked at a price less than 105% of the IPO price.

Fresca Mining is planning to further reduce its IPO price. We hope they could finally provide a good deal.
https://bitcointalk.org/index.php?topic=74044.0

TyGrr-Bank will reduce its interest rate to 2.5% from Apr. 3rd.
https://bitcointalk.org/index.php?topic=67818.0

TyGrr-Bot is already selling its IPOs.
https://bitcointalk.org/index.php?topic=74291.0

I love you man, you save me so much time... Best part is, that you're not a theoretical financial advisor. You're offering both a product and a service...

[friedcat]

Weekly Investment Opportunity Study

Gigamining is about to provide a bond each of which sold at 1BTC and represents 5MH/s of mining power. It's more profitable than PureMining if the price doesn't change in its actual IPO. The problem is that "soon" in BFL's term might mean anything from two months to the end of time.
https://bitcointalk.org/index.php?topic=74154.0

There are some Cognitive shares asked at a price less than 105% of the IPO price.

Fresca Mining is planning to further reduce its IPO price. We hope they could finally provide a good deal.
https://bitcointalk.org/index.php?topic=74044.0

TyGrr-Bank will reduce its interest rate to 2.5% from Apr. 3rd.
https://bitcointalk.org/index.php?topic=67818.0

TyGrr-Bot is already selling its IPOs.
https://bitcointalk.org/index.php?topic=74291.0

I love you man, you save me so much time... Best part is, that you're not a theoretical financial advisor. You're offering both a product and a service...

In fact we might not keep releasing the investment opportunity study part as often as weekly, after we become a relatively bigger player on GLBSE. Pretty easy to be taken advantage of in such a small market.

[HorseRider]

would you like to send the future report to some significant shareholders, like owning more than 5% of the company.

[Kaos]

would you like to send the future report to some significant shareholders, like owning more than 5% of the company.

Shareholder forum/mailing list would be +1 from me...

Although I would prefer it if there was no elitist "premium" membership caveat involved.

[Nefario]

I will be adding RSS newsfeeds for each asset, so asset owners can keep the general public informed, and them emails for announcements to shareholders.

I did want to build a kind of BBSlite type of system into GLBSE but thats going to have to wait for a few other things first.

Nefario.

[BurtW]

As a stockholder I think it is a very bad idea to publicly announce what you are buying/selling - especially before you buy/sell it.  I think it is a bad idea to even announce you might buy or sell something.  Quietly buy stuff and then let everyone know you bought it (with color commentary, reasons, whatever) if appropriate.  Quietly sell things and then announce you sold it (with commentary as appropriate).

[Nefario]

As a stockholder I think it is a very bad idea to publicly announce what you are buying/selling - especially before you buy/sell it.  I think it is a bad idea to even announce you might buy or sell something.  Quietly buy stuff and then let everyone know you bought it (with color commentary, reasons, whatever) if appropriate.  Quietly sell things and then announce you sold it (with commentary as appropriate).

I agree, as soon as you announce anything the price will go up or down depending on whether you're buying or selling.

Probably do a weekly summary of your trades (heh, copy and paste from your GLBSE account)

[friedcat]

As a stockholder I think it is a very bad idea to publicly announce what you are buying/selling - especially before you buy/sell it.  I think it is a bad idea to even announce you might buy or sell something.  Quietly buy stuff and then let everyone know you bought it (with color commentary, reasons, whatever) if appropriate.  Quietly sell things and then announce you sold it (with commentary as appropriate).

We agree. This will change after several weeks.

We are now so small that we are negligible from other guys' eyes. So at this moment, we believe that the downside brought by some publicity of our thoughts is not that much.

Of course, if we become a little bigger, or the GLBSE system for announcement to shareholders is done, we will stop releasing of our plans on forums.

[HorseRider]

Will there be any rules to keep enough diversification for this fund? like no single investment asset will be more than 15% of the net asset value of the fund.

[friedcat]

Will there be any rules to keep enough diversification for this fund? like no single investment asset will be more than 15% of the net asset value of the fund.

We are thinking about it. 15% is not an appropriate percentage at this moment though, given the limitation of our investment choices.

[HorseRider]

Will there be any rules to keep enough diversification for this fund? like no single investment asset will be more than 15% of the net asset value of the fund.

We are thinking about it. 15% is not an appropriate percentage at this moment though, given the limitation of our investment choices.

Yes, the number may be adjusted, but some kind of policy for self-regulation is good for the long term interest of this fund.

[friedcat]

As a stockholder I think it is a very bad idea to publicly announce what you are buying/selling - especially before you buy/sell it.  I think it is a bad idea to even announce you might buy or sell something.  Quietly buy stuff and then let everyone know you bought it (with color commentary, reasons, whatever) if appropriate.  Quietly sell things and then announce you sold it (with commentary as appropriate).

I agree, as soon as you announce anything the price will go up or down depending on whether you're buying or selling.

Probably do a weekly summary of your trades (heh, copy and paste from your GLBSE account)

Thanks Nefario.

Maybe the raw columns of data from GLBSE is not enough. I'm considering writing some scripts to extract information from them.

[Nefario]

As a stockholder I think it is a very bad idea to publicly announce what you are buying/selling - especially before you buy/sell it.  I think it is a bad idea to even announce you might buy or sell something.  Quietly buy stuff and then let everyone know you bought it (with color commentary, reasons, whatever) if appropriate.  Quietly sell things and then announce you sold it (with commentary as appropriate).

I agree, as soon as you announce anything the price will go up or down depending on whether you're buying or selling.

Probably do a weekly summary of your trades (heh, copy and paste from your GLBSE account)

Thanks Nefario.

Maybe the raw columns of data from GLBSE is not enough. I'm considering writing some scripts to extract information from them.

I will be adding an API in about a week or two, so you won't need to do this.

[friedcat]

A motion is created.

We are still not sure how it works exactly, but of course we will not vote with the rest un-sold shares ourselves.
After the results is known, if it's not broadcasted to our shareholders by GLBSE, we will publish it on this thread.

[HorseRider]

The IPO seems in a slow but steady move, everyday the share is being purchased. I guess if it was not the sexy Ponzi large scale IPO, this rational IPO would have going faster.

Voted. Everyone would know that I voted nay.


Nefario, why the shareholders now cannot see the voting results which could in the GLBSE 1.0?

[Nefario]

The IPO seems in a slow but steady move, everyday the share is being purchased. I guess if it was not the sexy Ponzi large scale IPO, this rational IPO would have going faster.

Voted. Everyone would know that I voted nay.


Nefario, why the shareholders now cannot see the voting results which could in the GLBSE 1.0?

The results become publicly available after the motion has finished, go to the assets page and look at old motions.

[HorseRider]

That Ponzi scheme IPO is about to end, and this IPO will be running in a faster way.

[friedcat]

The IPO seems in a slow but steady move, everyday the share is being purchased. I guess if it was not the sexy Ponzi large scale IPO, this rational IPO would have going faster.

Voted. Everyone would know that I voted nay.


Nefario, why the shareholders now cannot see the voting results which could in the GLBSE 1.0?

The results become publicly available after the motion has finished, go to the assets page and look at old motions.

Our motion has now finished. I checked the assets page but still couldn't find the results. Is GLBSE on an update so this feature is temporarily not available? Thanks.

[Nefario]

Well if you go to the assets page you can see a link to old motions, here is the link for those not gifted with eyesight.

https://glbse.com/asset/old_motions/MU

[Philj]

Well if you go to the assets page you can see a link to old motions, here is the link for those not gifted with eyesight.

https://glbse.com/asset/old_motions/MU

I can get to the link you posted, but that link is not showing up on the page https://glbse.com/asset/view/MU.

[BurtW]

Did it pass or fail?

This says it failed:

Ticker ID Created Expired Result Yea Nay Total % pass
MU 4 2012-03-30 2012-04-01 failed 1123 70 1193 51 details

But 1123/1193 or even 1123/1320 sold is a huge pass, right?

[Nefario]

Did it pass or fail?

This says it failed:

Ticker ID Created Expired Result Yea Nay Total % pass
MU 4 2012-03-30 2012-04-01 failed 1123 70 1193 51 details

But 1123/1193 or even 1123/1320 sold is a huge pass, right?

hmmm, thats a bug. Will fix soon.

[friedcat]

Update

Voted Yea:1123
Voted Nay:70

The motion has been passed.

We are now allowed to do what the motion says by the majority of shareholders. It does not necessarily mean we will do exactly that. Our final actual portfolio of this week will be released in the weekly financial disclosure section.

[friedcat]

Update

Two new motions are raised.

We apologize for bothering you with motions. We know that frequent motions are in essence contradicting to the point of our fund, which is created to save your precious time and energy in the first place. However, these two motions are not about specific investment choices, but the near to mid-term future decisions of muBit. So please excuse us. They are serious and important topics, and we need your opinions.

[friedcat]

Update

Two new motions are raised.

We apologize for bothering you with motions. We know that frequent motions are in essence contradicting to the point of our fund, which is created to save your precious time and energy in the first place. However, these two motions are not about specific investment choices, but the near to mid-term future decisions of muBit. So please excuse us. They are serious and important topics, and we need your opinions.

Dear new shareholders, these two motions are still going on at this moment.

If you have some spare time, please vote. Thank you very much.

[friedcat]

Since our motions have not ended yet, the weekly financial disclosure and investment opportunity study will be released later today(GMT time).

We will see if we have profits this week so that we could pay this week's dividends then. Anyway, because we have already hold a considerable number of assets, starting from the next 1-2 weeks we will be able to pay relatively larger dividends.

By the way, for those who are hesitating whether (holding more of/buying) our shares, as long as one of our motions passes today, there will be much less shares left for you to buy in this round of IPO. So we suggest you to catch up if you can.

[friedcat]

That Ponzi scheme IPO is about to end, and this IPO will be running in a faster way.

You're quickly acquiring the reputation of making libelous statements about all sorts of people in this forum, with no evidence. You might want to tone it down a bit, in case someone ever decides to institute anti-defamation rules in the forum

Guys, guys, I smelled a flame war brewing in our business thread.

It's OK if it does not last for pages, but if so, it will dilute the actual information. A new thread or somewhere else might be more appropriate.

[friedcat]

Weekly financial disclosure

Time: 9:50 AM, Beijing time
Date: Apri. 05, 2012

Funds of Last Week: 70.048 BTC
Shares Sold: 1139
Gross Income: 113.900 BTC
GLBSE Trading Fee: 0.570 BTC
Net Income: 113.330 BTC
Total Funds: 70.048+113.330=183.378 BTC
Dividends Paid: 0.000 BTC
Spent Funds: 129.715 BTC
  40xCognitive 22.565 BTC
  200xTyGrr-Bank 20.600 BTC
  20xTyGrr-Bot 20.000 BTC
  50xPureMining 18.550 BTC
  80xBitBond 48.000 BTC
Usable Funds: 183.378-129.715=53.663 BTC

All of the assets we hold have not paid their dividends yet. So this week's profit is 0. But as we said, we will begin making money in one week or two.

There are now a lot of uncertainty of TyGrr-Bank and TyGrr-Bot. If unfortunately we face an extreme condition that one or both of them end up being valueless, I myself will bail out muBit by filling in that hole with my own coins. Note that it is not our policy to take the whole responsibility of every future problematic investment choices, but this time we will do if necessary.

Both of our motions will end soon, and we will edit this page to add the results.

[guruvan]

mu has been a little starved for attention given the ongoing issues that surround one individual (as seen above in this very thread!)

Perhaps regardless of the outcome of the motions, you might see if you can raise a little more hype about the IPO.
I'd really like to see the fund have more than a handful of coin.

Also - will the fund be investing in startups?

[friedcat]

Weekly Investment Opportunity Study

TyGrr-* assets are in trouble:
https://bitcointalk.org/index.php?topic=75047.0

There are two persistent mining bonds in GLBSE now:
https://bitcointalk.org/index.php?topic=65569.0
https://bitcointalk.org/index.php?topic=75126.0
and soon another one:
https://bitcointalk.org/index.php?topic=74154.0

There's a huge selloff of PureMining. Maybe it's because BitBond is out.

It is interesting to watch that FPGA.contract's return rate is an exception. All those of other major operating mining companies are similar.

[friedcat]

mu has been a little starved for attention given the ongoing issues that surround one individual (as seen above in this very thread!)

Perhaps regardless of the outcome of the motions, you might see if you can raise a little more hype about the IPO.
I'd really like to see the fund have more than a handful of coin.

Also - will the fund be investing in startups?

Yes, we are now in need of attention. We might have been too careful about raising hypes because we worry the negative effects of bad advertising practice. Hopefully we could think of a way good enough to attract eyes.

Investing in startups belongs to our business domain, but the priority of private startups are below GLBSE-listed ones. We have to take more risks and responsibility when investing in an startup which is not open enough.

[guruvan]

It doesn't look like any of the larger "institutional" investors are holding much/any muBit shares. Maybe getting out and pitching to them a little (bitcoin banks, other funds are the firsts that come to mind).

I suspect there are some people who are looking for the potentially undervalued assets on the GLBSE, and who'd like out of some of the (perceived or real) risk in investing in some issues there. (like me)

I'm already holding a position in muBit, and would increase it as I see some more shares sell.

Puremining: I think people might have been moving funds around to speculate on the IPOs as well. I think Meni is a sharp guy, and this just fine as an asset. With a repurchase guarantee at 20% over the 30 day avg close it's not in serious trouble i don't think.

TyGrrr* - Grrr sums it up for me. I would not buy in, but I would definitely wait to see it recover if you didn't bail the second you saw the post that said "sell sell sell, tygrrr assets are going DOWN" - and to do EITHER is a gamble, and a likely loss of money. 

I'm very interested in the Gigamining, and Bitcoin Mining Co issues, myself.

And honestly, I had gotten from the OP that you might be investing in earlier stage startups, and that's what had attracted me (and why I am interested in you selling shares - so you have capital to get a startup off the ground, and then kick it out for an IPO. I'm here if I can help

[friedcat]

It doesn't look like any of the larger "institutional" investors are holding much/any muBit shares. Maybe getting out and pitching to them a little (bitcoin banks, other funds are the firsts that come to mind).

I suspect there are some people who are looking for the potentially undervalued assets on the GLBSE, and who'd like out of some of the (perceived or real) risk in investing in some issues there. (like me)

I'm already holding a position in muBit, and would increase it as I see some more shares sell.

Puremining: I think people might have been moving funds around to speculate on the IPOs as well. I think Meni is a sharp guy, and this just fine as an asset. With a repurchase guarantee at 20% over the 30 day avg close it's not in serious trouble i don't think.

TyGrrr* - Grrr sums it up for me. I would not buy in, but I would definitely wait to see it recover if you didn't bail the second you saw the post that said "sell sell sell, tygrrr assets are going DOWN" - and to do EITHER is a gamble, and a likely loss of money.  

I'm very interested in the Gigamining, and Bitcoin Mining Co issues, myself.

And honestly, I had gotten from the OP that you might be investing in earlier stage startups, and that's what had attracted me (and why I am interested in you selling shares - so you have capital to get a startup off the ground, and then kick it out for an IPO. I'm here if I can help

I think it's a good idea to get muBit known to Bitcoin banks. Thank you.

I haven't made any action to TyGrr-* yet. Hopefully we could sell all of them without loss and even with some profits after their prices fully recover.

About startups, we will PM you for the details.

[BurtW]

It doesn't look like any of the larger "institutional" investors are holding much/any muBit shares. Maybe getting out and pitching to them a little (bitcoin banks, other funds are the firsts that come to mind).

Not entirely true, one of the Bitcoin banks has purchased a large share of this offering and is watching the IPO like a hawk

[BurtW]

I'm buying back stock, I doubt you will lose much if any money.

I tried to buy during the panic selling caused by "Goat battle 2.0" - it was a sure thing - but missed it.  Goat, please let me know in advance before you get into your next forum battle so I can be better prepared to profit from it

[friedcat]

I'm buying back stock, I doubt you will lose much if any money.

We've already seen your announcement in another thread, thanks.

Glad that you and Nefario have finally solved it out.

[friedcat]

It doesn't look like any of the larger "institutional" investors are holding much/any muBit shares. Maybe getting out and pitching to them a little (bitcoin banks, other funds are the firsts that come to mind).

Not entirely true, one of the Bitcoin banks has purchased a large share of this offering and is watching the IPO like a hawk

I watched that there is a large buying of muBit today.

The motions are still lying there, I don't know why. Maybe it's because there are some inconsistency with timing in GLBSE. So, whoever those made the huge purchasing are, you are on the way of making one of our motions obsolete! I love you guys.

[guruvan]

It doesn't look like any of the larger "institutional" investors are holding much/any muBit shares. Maybe getting out and pitching to them a little (bitcoin banks, other funds are the firsts that come to mind).

Not entirely true, one of the Bitcoin banks has purchased a large share of this offering and is watching the IPO like a hawk

Ahh...Music to my wallet.dat

[matthewh3]

Update

News



It is said by the CEO of RSM that they will use a new kind of FPGA chips, but we are not convinced:
https://bitcointalk.org/index.php?topic=63257.msg819666#msg819666
https://bitcointalk.org/index.php?topic=63257.msg819672#msg819672

Board #1 will be shipped by no later than this Wednesday (11/04/12[04/11/12]) board #2 will be shipped within three weeks each board operates at ~800MH/s@~40W I'm predicting the weekly dividend (assuming all shares are sold) to be ~0.00333BTC per share each week.

[matthewh3]

Update

News



It is said by the CEO of RSM that they will use a new kind of FPGA chips, but we are not convinced:
https://bitcointalk.org/index.php?topic=63257.msg819666#msg819666
https://bitcointalk.org/index.php?topic=63257.msg819672#msg819672

Board #1 will be shipped by no later than this Wednesday (11/04/12[04/11/12]) board #2 will be shipped within three weeks each board operates at ~800MH/s@~40W I'm predicting the weekly dividend (assuming all shares are sold) to be ~0.00333BTC per share each week.

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

[matthewh3]

Update

News



It is said by the CEO of RSM that they will use a new kind of FPGA chips, but we are not convinced:
https://bitcointalk.org/index.php?topic=63257.msg819666#msg819666
https://bitcointalk.org/index.php?topic=63257.msg819672#msg819672

Board #1 will be shipped by no later than this Wednesday (11/04/12[04/11/12]) board #2 will be shipped within three weeks each board operates at ~800MH/s@~40W I'm predicting the weekly dividend (assuming all shares are sold) to be ~0.00333BTC per share each week.

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Plus once the IPO is over I'm holding a motion on whether to issue another 375 shares at 0.31BTC each to pay for board #3 which should take the weekly dividend to ~0.00450BTC per share each week or withhold dividends for approximately two to three months to complete the purchase of board #3 in which case the dividend would end up ~0.00500BTC per share each week.

[guruvan]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

[matthewh3]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

Yes the boards nearest competitor is two of the new X6500 boards (and they come without heatsinks) and this board works out cheaper.

[guruvan]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

Yes the boards nearest competitor is two of the new X6500 boards (and they come without heatsinks) and this board works out cheaper.

hmm. what's your power bill? BFL single @ 830MHash/s@80W@$599 + $75to$150 lost mining op time waiting (risky tho) = are you paying that much more in power (or projecting that level of difficulty) that it's worth the premium?

but, as they say, one in the hand is worth two in the bush

EDIT: at $999 it sounds much more betta - are you getting more at that?
 

[matthewh3]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

Yes the boards nearest competitor is two of the new X6500 boards (and they come without heatsinks) and this board works out cheaper.

hmm. what's your power bill? BFL single @ 830MHash/s@80W@$599 + $75to$150 lost mining op time waiting (risky tho) = are you paying that much more in power (or projecting that level of difficulty) that it's worth the premium?

but, as they say, one in the hand is worth two in the bush

EDIT: at $999 it sounds much more betta - are you getting more at that?
 

No only one at $999 but a BFL-Single would take over 8 months to pay for its self but with only 6 months warranty!  This board will take up to 16 months to pay for its self but then will still have 8 months within warranty of a guaranteed profit.  Also got feed up of waiting for the BFL that was a major reason of switching to this.

[matthewh3]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

Yes the boards nearest competitor is two of the new X6500 boards (and they come without heatsinks) and this board works out cheaper.

hmm. what's your power bill? BFL single @ 830MHash/s@80W@$599 + $75to$150 lost mining op time waiting (risky tho) = are you paying that much more in power (or projecting that level of difficulty) that it's worth the premium?

but, as they say, one in the hand is worth two in the bush

EDIT: at $999 it sounds much more betta - are you getting more at that?
 

No only one at $999 but a BFL-Single would take over 8 months to pay for its self but with only 6 months warranty!  This board will take up to 16 months to pay for its self but then will still have 8 months within warranty of a guaranteed profit.  Also got feed up of waiting for the BFL that was a major reason of switching to this.

I pay £0.11185/$0.15kWh and if the difficulty goes right up or the price falls out the electricity costs per board are only £0.75 a week for 10 bitcoins at the moment so even if BTC dropped to $1 (or $2 after the block reward halfs) we could still keep the boards running and issuing dividends.

[friedcat]

Update

First motion
Voted Yea:1098
Voted Nay:17

The motion has been passed.


Second motion
Voted Yea:1150
Voted Nay:0

The motion has been passed.

We have taken action according to the first motion. The second motion now seems to become obsolete since the IPO will probably finish before the end of this financial week.

[friedcat]

Update

First motion
Voted Yea:1098
Voted Nay:17

The motion has been passed.


Second motion
Voted Yea:1150
Voted Nay:0

The motion has been passed.

We have taken action according to the first motion. The second motion now seems to become obsolete since the IPO will probably finish before the end of this financial week.

We reduced the first round IPO from 10,000 shares to 3,000 shares, as allowed by the votes of shareholders.

So, there are merely several hundreds of shares left, and we are on the road of making our money!

Do we have to say anything more about the remaining shares?

[HorseRider]

matthewh3, you're not very reliable according to your track record. And through the market history, even a mining company is mining at its full planned hashing rate, the stock price won't have a premium than 10% for 1-2 weeks. So I will wait until your company is indeed mining as you planned. I'd love to pay the 10% premium than lose all of my bitcoin invested.

[friedcat]

It doesn't look like any of the larger "institutional" investors are holding much/any muBit shares. Maybe getting out and pitching to them a little (bitcoin banks, other funds are the firsts that come to mind).

Not entirely true, one of the Bitcoin banks has purchased a large share of this offering and is watching the IPO like a hawk

Ahh...Music to my wallet.dat

It might be off-topic, but thanks for your free advertisement in the signature.

[matthewh3]

matthewh3, you're not very reliable according to your track record.

Why because I changed my plan twice?  Once to increase the dividend and once to speed up the process to start mining.  Anyway two boards have now been paid for I've a good mind to take all remaining shares and all future issues to be private deals only.  The first dividend should be paid in two weeks and I'm predicating the weekly dividend per share in five weeks to be ~0.00333BTC and if we do issue another 400 shares (maybe privately) the weekly dividend per share will be ~0.0045BTC per share.

[friedcat]

Update

The first round IPO has ended. Thanks for all investors.

The time and (BTC/share) of second round IPO is to be decided. If we are doing very well in the next few weeks, maybe it will be sooner than you expect.

Now let's roll up and make a fortune!

[friedcat]

Weekly Financial Disclosure

Time: 13:28 AM, Beijing time
Date: Apri. 11, 2012

Funds of Last Week: 53.663 BTC
Shares Sold: 1157
Gross Income: 115.700BTC
GLBSE Trading Fee: 0.579 BTC
Net Income: 115.121 BTC

Assets:

Cognitive
Original: 40shares 22.565BTC
Bought in: 105shares 60.900BTC
Average Holding price: (22.565+60.900)/(40+105)=0.576BTC
Sold: 95shares 57.820*(1-0.5%)=57.531BTC
Average Selling Price: 0.606BTC
Holding: 40+105-95=50shares 50*0.576=28.800BTC
Net Gain: (0.606-0.576)*95=2.850BTC
Dividends Paid: 0.000BTC

TyGrr-Bank
Original: 200shares 20.600BTC
Bought in: 294shares 29.400BTC
Average Holding Price: (20.600+29.400)/(200+294)=0.101BTC
Sold: 179shares 18.077*(1-0.5%)=17.987BTC
Average Selling Price: 0.100BTC
Holding: 200+294-179=315shares 315*0.101=31.815BTC
Net Gain: (0.101-0.100)*179=0.179BTC
Dividends Paid: 2.011BTC

TyGrr-Bot
Original: 20shares 20.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 20.000/20=1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 20+0-0=20shares 20*1.000=20.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

PureMining
Original: 50shares 18.550BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 18.550/50=0.371BTC
Sold: 0share 0BTC
Average Selling Price: N/A
Holding: 50+0-0=50shares 18.550BTC
Net Gain: 0.000BTC
Dividends Paid: 0.232BTC

RSM
Original: 0shares 0.000BTC
Bought in: 15shares 4.500BTC
Average Holding Price: 4.500/15=0.300BTC
Sold: 15shares 5.25*(1-0.5%)=5.224BTC
Average Selling Price: 0.348BTC
Holding: 0+15-15=0shares 0.000BTC
Net Gain: (0.348-0.300)*15=0.720BTC
Dividends Paid: 0.000BTC

BitBond
Original: 80shares 48.000BTC
Bought in: 60shares 36.750BTC
Average Holding Price: 84.750/140=0.605BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 80+60-0=140shares 84.750BTC
Net Gain: 0.000BTC
Dividends Paid: 0.439BTC

Gigamining
Original: 0shares 0.000BTC
Bought in: 80shares 104.800BTC
Average Holding Price: 104.800/80=1.310BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 0+80-0=80shares 104.800BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

Holding Funds=
53.663+115.121-60.900+57.531+0.000-29.400+17.897+2.011-0.000+0.000+0.000-
0.000+0.000+0.232-4.500+5.224+0.000-36.750+0.000+0.439-104.800+0.000+0.000=15.768BTC

Total Net Gain=
2.850+0.000+0.179+2.011+0.000+0.000+0.000+0.232+0.720+0.000+0.000+0.439+0.000+0.000=6.431BTC

Calculated Dividends: 6.431*35%=2.251BTC

Usable Funds: 15.768-2.251=13.517BTC (The CEO does not take any fee this week)

Actual Dividends: 2.34299BTC (For Adjusting the rounding errors)

[friedcat]

Apologize

We apologize for our hesitation towards the Pre-IPO of Gigamining, and our failure to catch the best price on the IPO.
Though 1.3/share is still way better than PureMining and BitBond, we could have done much better.
Sorry to our shareholders. We will do better next time.

[friedcat]

Update

We are considering some modifications to our policies. They are just proposals, not motions. We won't be holding votes on them immediately. Any advices, criticisms and discussions are welcome.

1. Is it OK to always pay 100%(or 95%, fee excluded) when doing the second, the third, and the Nth fundraising, and resume the rate to 35% when they finish?

Reason: (1) When doing fundraising, the dividends will be diluted by new shares. Paying 100% during that time could help us obtain more steady returns.
            (2) It could reduce (N-1) cumbersome motions in the future.

2. Is it OK for the CEO to permanently give up the 5% fee, instead he automatically gains 5% of the new shares issued each time?

Reason: (1) It simplifies dividends calculation and reduces BTC transfer.
            (2) The CEO could cash some out in extreme conditions. (mu in emergency of Bitcoin flow, CEO himself needs Bitcoins, etc)
Downside: (1) The CEO will have more potential to influence the stock price.

[friedcat]

Weekly Financial Disclosure

Time: 13:45 AM, Beijing time
Date: Apri. 18, 2012

Funds of Last Week: 13.517 BTC

Assets:

Cognitive
Original: 50shares 28.800BTC
Bought in: 123shares 69.090BTC
Average Holding price: (28.800+69.090)/(50+123)=0.566BTC
Sold: 43shares 27.310*(1-0.5%)=27.173BTC
Average Selling Price: 0.632BTC
Holding: 50+123-43=130shares 130*0.566=73.580BTC
Net Gain: (0.632-0.566)*40=2.640BTC
Dividends Paid: 0.268BTC

TyGrr-Bank
Original: 315shares 31.815BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.101BTC
Sold: 315shares 32.033*(1-0.5%)=31.872BTC
Average Selling Price: 0.101BTC
Holding: 315+0-315=0shares 0.000BTC
Net Gain: 31.872-31.815=0.057BTC
Dividends Paid: 0.000BTC

TyGrr-Bot
Original: 20shares 20.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 20shares 25.000*(1-0.5%)=24.875BTC
Average Selling Price: 1.244BTC
Holding: 20+0-20=0shares 0.000BTC
Net Gain: 24.875-20.000=4.875BTC
Dividends Paid: 0.000BTC

PureMining
Original: 50shares 18.550BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.371BTC
Sold: 50share 19.620*(1-0.5%)=19.522BTC
Average Selling Price: 0.390BTC
Holding: 50+0-50=0shares 0.000BTC
Net Gain: 19.522-18.550=0.972BTC
Dividends Paid: 0.000BTC

BitBond
Original: 140shares 84.750BTC
Bought in: 15shares 7.500BTC
Average Holding Price: (84.750+7.500)/(140+15)=0.595BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 140+15-0=155shares 92.250BTC
Net Gain: 0.000BTC
Dividends Paid: 1.159BTC

Gigamining
Original: 80shares 104.800BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.310BTC
Sold: 10shares 14.000*(1-0.5%)=13.930BTC
Average Selling Price: 1.390BTC
Holding: 80+0-10=70shares 91.700BTC
Net Gain: (1.390-1.310)*10=0.700BTC
Dividends Paid: 1.542BTC

Holding Funds=
13.517-69.090+27.173+0.000-0.000+31.872+0.000-0.000+24.875+0.000-
0.000+19.522+0.000-7.500+0.000+1.159-0.000+13.930+1.542=57.000BTC

Total Net Gain=
2.640+0.268+0.057+0.000+4.875+0.000+0.972+0.000+0.000+1.159+0.700+1.542=12.213BTC

Calculated Dividends: 12.213*35%=4.275BTC

Usable Funds: 57.000-4.275=52.725BTC (The CEO does not take any fee this week)

Actual Dividends: 4.44380059BTC (For Adjusting the rounding errors)

[HorseRider]

The performance is fantastic. for the IPO investor, this week the MU gain a more than 4% return on investment. If someone buy all the shares at IPO with 300 BTC, MU earns 12.2 BTC for him this week. 4.3BTC is paid as dividend and rest of it will add to growth fund.

It's really fantastic.

[friedcat]

The performance is fantastic. for the IPO investor, this week the MU gain a more than 4% return on investment. If someone buy all the shares at IPO with 300 BTC, MU earns 12.2 BTC for him this week. 4.3BTC is paid as dividend and rest of it will add to growth fund.

It's really fantastic.

In fact it's a result of a major dumping and market making this week.

[BurtW]

Great job.  Thanks!

[JWU42]

Nice work recently..

[friedcat]

Update

The "Investment Opportunity Study" has been modified to "Market Watch".

It will include some investment-neutral market information. Specifically, an index of GLBSE will be provided weekly!

The index will be calculated as the sum of the total market value of each asset, which belongs to a set chosen from all GLBSE assets. We are now considering this list:

FPGA.contract
BMMO
PureMining
Gigamining
TyGrr-Bot
MU

Of course the index is and could be only used purely for reference and fun.

Q: Why isn't my favorite asset on this list?
A: The list hasn't been determined yet. Plus, it's just our way of calculating a stock index and you could invent yours.

Q: Why are you doing this?
A: It's fun, and it might provoke a real professional stock index of Bitcoin stocks in the future.

Q: Why don't you open a new thread for the index?
A: We consider the index as a form of advertisement for MU.

Q: What if there are a bunch of new assets suddenly blooming and you have to contain them in your list?
A: We will work out a way to normalize the index calculation to make the index stable.

[S3052]

this is a great project. well done so far

[friedcat]

Great job.  Thanks!

Nice work recently..

this is a great project. well done so far

Thank you.

As you could see from our financial report, besides catching IPOs, we are doing arbitraging and market making as well. They are in principle just buying undervalued stocks and selling them when price rises, therefore already included in the contract of MU. But it would be better and more motivated for us if you guys could provide some further approval. (We assume all of you as major shareholders currently. )

[friedcat]

Will you invest in the BDK IPO? Thanks.

Maybe, but I checked through the BDK thread and found that the pre-IPO shares are all sold out.

[Kluge]

Will you invest in the BDK IPO? Thanks.

Maybe, but I checked through the BDK thread and found that the pre-IPO shares are all sold out.

Right. 1k shares are reserved for the IPO on May 2nd (I'll be placing an order to sell them @ .055BTC each). However, there are >200 shares already "reserved" through bid orders placed, which requires those potential buyers' commit to having BTC in their GLBSE account for over a week, which I believe indicates fairly high demand, and expect there to be a kind of "auction" at the IPO. Whoever bids the most at time of IPO receives the shares.

The way I've decided to sell BDK profits works a bit like a pyramid. All funds raised through the public offerings, which will occur in small amounts on the second day of each month for at least four months, will boost BDK's equity and thus (ideally) dividends paid out. As the amount "IPO" shares are sold for will likely increase significantly every month, early adopters are greatly rewarded, both in a lower price for shares than later buyers, and also in that they stand to see dividends (and presumably, aftermarket share value) increase significantly each month as more funds are raised through public offerings since future public offerings do not devalue shares already held.

However, if there is an "auction-style" IPO, I honestly have no idea how much BDK IPO shares will sell for. Already at a 10% markup over pre-IPO shares, there appears to still be quite a bit of interest. Potential investors should be very careful not to screw themselves over, as next month, I may sell IPO shares @ .055BTC again, even if people bought @ .08 on May 2nd. Or maybe I'll sell IPO shares @ .075BTC next month -- who knows? Lots of risk -- should be plenty of meat on the bone for investors, though. I purposefully sold the initial IPO shares at a loss for me with regards to income I'll receive each month.


I don't mean to be a hype-peddler, but this should put everything in perspective for those who already did the math and figured the initial IPO shares are being sold at a loss for me: in the first month's IPO, I'm expecting to sell 5% of total shares for ~275BTC, but once all the shares are sold in 2-3 years, I want no less than 40k BTC raised through public offerings. I have no idea if I'll grow BDK to the size I want, but I do enjoy challenges.

[friedcat]

Will you invest in the BDK IPO? Thanks.

Maybe, but I checked through the BDK thread and found that the pre-IPO shares are all sold out.

Right. 1k shares are reserved for the IPO on May 2nd (I'll be placing an order to sell them @ .055BTC each). However, there are >200 shares already "reserved" through bid orders placed, which requires those potential buyers' commit to having BTC in their GLBSE account for over a week, which I believe indicates fairly high demand, and expect there to be a kind of "auction" at the IPO. Whoever bids the most at time of IPO receives the shares.

The way I've decided to sell BDK profits works a bit like a pyramid. All funds raised through the public offerings, which will occur in small amounts on the second day of each month for at least four months, will boost BDK's equity and thus (ideally) dividends paid out. As the amount "IPO" shares are sold for will likely increase significantly every month, early adopters are greatly rewarded, both in a lower price for shares than later buyers, and also in that they stand to see dividends (and presumably, aftermarket share value) increase significantly each month as more funds are raised through public offerings since future public offerings do not devalue shares already held.

However, if there is an "auction-style" IPO, I honestly have no idea how much BDK IPO shares will sell for. Already at a 10% markup over pre-IPO shares, there appears to still be quite a bit of interest. Potential investors should be very careful not to screw themselves over, as next month, I may sell IPO shares @ .055BTC again, even if people bought @ .08 on May 2nd. Or maybe I'll sell IPO shares @ .075BTC next month -- who knows? Lots of risk -- should be plenty of meat on the bone for investors, though. I purposefully sold the initial IPO shares at a loss for me with regards to income I'll receive each month.


I don't mean to be a hype-peddler, but this should put everything in perspective for those who already did the math and figured the initial IPO shares are being sold at a loss for me: in the first month's IPO, I'm expecting to sell 5% of total shares for ~275BTC, but once all the shares are sold in 2-3 years, I want no less than 40k BTC raised through public offerings. I have no idea if I'll grow BDK to the size I want, but I do enjoy challenges.

Thanks for your reply.

In fact, we ourselves don't believe much in the prediction of the profits in the next month, let alone the month after that. A large spike in Bitcoin price would easily make some of your borrowers unable to repay. Bad loans may happen all the time even if there are no scammers.

But still, we might watch the market reaction and then decide whether to join in your IPO carnival.

[friedcat]

Weekly Financial Disclosure

Time: 10:06 AM, Beijing time
Date: Apri. 25, 2012

Funds of Last Week: 52.725 BTC

Assets:

Cognitive
Original: 130shares 73.580BTC
Bought in: 23shares 12.880BTC
Average Holding price: (73.580+12.880)/(130+23)=0.565BTC
Sold: 153shares 93.980*(1-0.5%)=93.510BTC
Average Selling Price: 0.611BTC
Holding: 130+23-153=0shares 0.000BTC
Net Gain: 93.510-73.580-12.880=7.050BTC
Dividends Paid: 0.632BTC

BitBond
Original: 155shares 92.250BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.595BTC
Sold: 21shares 13.177*(1-0.5%)=13.111BTC
Average Selling Price: 0.624BTC
Holding: 155+0-21=134shares 79.730BTC
Net Gain: (0.624-0.595)*21=0.609BTC
Dividends Paid: 1.522BTC

Gigamining
Original: 70shares 91.700BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.310BTC
Sold: 30shares 46.010*(1-0.5%)=45.780BTC
Average Selling Price: 1.526BTC
Holding: 70+0-30=40shares 52.400BTC
Net Gain: (1.526-1.310)*30=6.480BTC
Dividends Paid: 0.892BTC

Holding Funds=
52.725-12.880+93.510+0.632-0.000+13.111+1.522-0.000+45.780+0.892=195.292BTC

Total Net Gain=
7.050+0.632+0.609+1.522+6.480+0.892=17.185BTC

Calculated Dividends: 17.185*35%=6.015BTC

Usable Funds: 195.292-6.015=189.277BTC (The CEO does not take any fee this week)

Actual Dividends: 6.01479BTC (For Adjusting the rounding errors)

[friedcat]

The MU Index for GLBSE

30.85 (kBTC)
157.87 (kDollar)

BTC Price: 5.117$

TyGrr-Bot
  Category: Long Term Bond
  Business: Arbitraging
  Shares in Circulation: 7122
  Closing Price: 1.110BTC
  Total Value: 7905.420BTC
  Total Value in Dollar: 40452.034$

PureMining
  Category: Perpetual Bond
  Business: Mining
  Shares in Circulation: 10000
  Closing Price: 0.370BTC
  Total Value: 3700.000BTC
  Total Value in Dollar: 18932.900$

GigaMining
  Category: Perpetual Bond
  Business: Mining
  Shares in Circulation: 5000
  Closing Price: 1.490BTC
  Total Value: 7450.000BTC
  Total Value in Dollar: 38121.650$

Cognitive
  Category: Stock
  Business: Mining
  Shares in Circulation: 5000
  Closing Price: 0.580BTC
  Total Value: 2900.000BTC
  Total Value in Dollar: 14839.300$

FPGA.contract
  Category: Stock
  Business: Mining
  Shares in Circulation: 6000
  Closing Price: 0.440BTC
  Total Value: 2640.000BTC
  Total Value in Dollar: 13508.880$

BFLS
  Category: Stock
  Business: Mining
  Shares in Circulation: 2000
  Closing Price: 1.100BTC
  Total Value: 2200.000BTC
  Total Value in Dollar: 11257.400$

BMMO
  Category: Stock
  Business: Mining
  Shares in Circulation: 6620
  Closing Price: 0.350BTC
  Total Value: 2317.000BTC
  Total Value in Dollar: 11856.089$

SS
  Category: Stock
  Business: Fund
  Shares in Circulation: 610
  Closing Price: 1.500BTC
  Total Value: 915.000BTC
  Total Value in Dollar: 4682.055$

MU
  Category: Stock
  Business: Fund
  Shares in Circulation: 3000
  Closing Price: 0.275BTC
  Total Value: 825.000BTC
  Total Value in Dollar: 4221.525$

[friedcat]

The Normalization Method

If new asset(s) are included in the list, the result will be normalized using this coefficient:

O/(O+N)

If asset(s) are removed from the list, the result will be normalized using this coefficient:

(O+N)/O

O: The Index of the old assets in the last week
N: The Total Value of the specific asset(s) in the last week

[highlevelminer]

Excellent.

Its nice to know investors and businesses can have an exact formula where they can estimate and account for future growth.

[friedcat]

Update

Our fund's name is shortened from the awkward "muBit" to a single Greek letter "μ", since it is already called so by most of people, including ourselves.

[BurtW]

Update

Our fund's name is shortened from the awkward "muBit" to a single Greek letter "μ", since it is already called so by most of people, including ourselves.

That it!  I am pulling all my money out!  You can't just change the name all willy-nilly

[exahash]

Update

Our fund's name is shortened from the awkward "muBit" to a single Greek letter "μ", since it is already called so by most of people, including ourselves.

That is!  I am pulling all my money out!  -snip-

I would, but not because of the name change.

First, a suggestion to friedcat and anyone else with a fund or etf: use mark to market and publish your NAV (Net Asset Value) and NAV/share as frequently as possible.

Let's compute the NAV based on last night's financial report:

Cash: 189.277
Bitbond: 134 @.6319 = 84.6746
Gigamining: 40 @1.48 = 59.2

Those prices are the lesser of last trade or ask right now (2:15 PM Eastern US time).  I didn't use bid prices (which would be lower) so as not to unfairly bias my math.

NAV = 333.1516
Shares issued and outstanding: 3000
NAV/share = .11105 BTC

Last trade for MU was @.275 current best ask is @.269 - that's more than double the NAV/share!

The premium to NAV/share is .269 - .11105 = .15795  WOW!

But it pays a dividend you say?!  About .002/share yesterday.  Let's pretend it will be that profitable for many many weeks.  .15795 / .002 = 78.975  So it will take 79 weeks (about 1.5 years) to recover that premium using the dividend.

Not knocking you, friedcat, but someone's got a lot of faith in you, congrats!  :-)

I can buy "regular" ETF's near or even below NAV on US stock markets.  Either the folks trading MU are bad at math, or must think MU will be accelerating its revenue big time.

[N12]

I haven’t done the research on this asset, but perhaps it is a case of the Greater Fool Theory.

Some people may be aware of it and just expect there to be new people who are bad at math to buy them later on, or even new people who expect new people who are bad at math.

[friedcat]

Update

Our fund's name is shortened from the awkward "muBit" to a single Greek letter "μ", since it is already called so by most of people, including ourselves.

That it!  I am pulling all my money out!  You can't just change the name all willy-nilly

Well, I think that "MU" or "μ" was already the de-facto name used more widely than the long and cumbersome "muBit".

[friedcat]

Update

Our fund's name is shortened from the awkward "muBit" to a single Greek letter "μ", since it is already called so by most of people, including ourselves.

That is!  I am pulling all my money out!  -snip-

I would, but not because of the name change.

First, a suggestion to friedcat and anyone else with a fund or etf: use mark to market and publish your NAV (Net Asset Value) and NAV/share as frequently as possible.

Let's compute the NAV based on last night's financial report:

Cash: 189.277
Bitbond: 134 @.6319 = 84.6746
Gigamining: 40 @1.48 = 59.2

Those prices are the lesser of last trade or ask right now (2:15 PM Eastern US time).  I didn't use bid prices (which would be lower) so as not to unfairly bias my math.

NAV = 333.1516
Shares issued and outstanding: 3000
NAV/share = .11105 BTC

Last trade for MU was @.275 current best ask is @.269 - that's more than double the NAV/share!

The premium to NAV/share is .269 - .11105 = .15795  WOW!

But it pays a dividend you say?!  About .002/share yesterday.  Let's pretend it will be that profitable for many many weeks.  .15795 / .002 = 78.975  So it will take 79 weeks (about 1.5 years) to recover that premium using the dividend.

Not knocking you, friedcat, but someone's got a lot of faith in you, congrats!  :-)

I can buy "regular" ETF's near or even below NAV on US stock markets.  Either the folks trading MU are bad at math, or must think MU will be accelerating its revenue big time.

Thank you very much. I like your criticism. We will calculate the NAV out in future financial reports. But we have to explain some of my points here:

1. It is common that an asset is traded at a price far above (NAV/number of shares). If you liquidate a company of great performance, the money you get could be comparative to the NAV, and I believe that it will usually be much less than the market value. Just take GLBSE mining stocks as examples, if you use 1000BTC to buy GPUs, the NAV automatically shrinks to less than 600BTC after the first minute they are plugged onto motherboards, and if you buy FPGAs, I believe the NAV will be less than 200BTC after they are used for the first time. How long should shareholder wait to fully recover the price difference?

2. Yes, it will take 1.5 years to recover that premium. But even at this price level, the time is still shorter than some of the mining companies on GLBSE.

3. We are not an ETF, we are a venture capital fund, and besides hunting IPOs and startups, we are also doing arbitraging, market making, and anything that could bring our shareholders greater returns.

4. I myself, as many folks do, think MU will be accelerating its revenue in all scales of time. This is why I started MU in the first place.

[friedcat]

I haven’t done the research on this asset, but perhaps it is a case of the Greater Fool Theory.

Some people may be aware of it and just expect there to be new people who are bad at math to buy them later on, or even new people who expect new people who are bad at math.

I think the Greater Fool Theory does apply to many circumstances. But a large price increase does not necessarily mean that the Greater Fool Effect is a dominant factor. While the rise of Bitcoin price from 2010's 0$ to last June's 20$ might be mainly caused by the Fools, the rise from 2010's 0$ to today's 5$ is probably not.

[friedcat]

Update

Our fund's name is shortened from the awkward "muBit" to a single Greek letter "μ", since it is already called so by most of people, including ourselves.

That is!  I am pulling all my money out!  -snip-

I would, but not because of the name change.

First, a suggestion to friedcat and anyone else with a fund or etf: use mark to market and publish your NAV (Net Asset Value) and NAV/share as frequently as possible.

Let's compute the NAV based on last night's financial report:

Cash: 189.277
Bitbond: 134 @.6319 = 84.6746
Gigamining: 40 @1.48 = 59.2

Those prices are the lesser of last trade or ask right now (2:15 PM Eastern US time).  I didn't use bid prices (which would be lower) so as not to unfairly bias my math.

NAV = 333.1516
Shares issued and outstanding: 3000
NAV/share = .11105 BTC

Last trade for MU was @.275 current best ask is @.269 - that's more than double the NAV/share!

The premium to NAV/share is .269 - .11105 = .15795  WOW!

But it pays a dividend you say?!  About .002/share yesterday.  Let's pretend it will be that profitable for many many weeks.  .15795 / .002 = 78.975  So it will take 79 weeks (about 1.5 years) to recover that premium using the dividend.

Not knocking you, friedcat, but someone's got a lot of faith in you, congrats!  :-)

I can buy "regular" ETF's near or even below NAV on US stock markets.  Either the folks trading MU are bad at math, or must think MU will be accelerating its revenue big time.

Thank you very much. I like your criticism. We will calculate the NAV out in future financial reports. But we have to explain some of my points here:

1. It is common that an asset is traded at a price far above (NAV/number of shares). If you liquidate a company of great performance, the money you get could be comparative to the NAV, and I believe that it will usually be much less than the market value. Just take GLBSE mining stocks as examples, if you use 1000BTC to buy GPUs, the NAV automatically shrinks to less than 600BTC after the first minute they are plugged onto motherboards, and if you buy FPGAs, I believe the NAV will be less than 200BTC after they are used for the first time. How long should shareholder wait to fully recover the price difference?

2. Yes, it will take 1.5 years to recover that premium. But even at this price level, the time is still shorter than some of the mining companies on GLBSE.

3. We are not an ETF, we are a venture capital fund, and besides hunting IPOs and startups, we are also doing arbitraging, market making, and anything that could bring our shareholders greater returns.

4. I myself, as many folks do, think MU will be accelerating its revenue in all scales of time. This is why I started MU in the first place.

Another thing I want to emphasis, is that both our NAV increasing and the dividends come from our profit. 60%(65% if I don't take fees) of the profits go to NAV, and 35% of the profits are paid as dividends. So suppose we will be as profitable as last week for many weeks, at the same time a shareholder needs 1.5 years to get 0.15975BTC/share from dividends, the NAV itself already rises to 0.11105+(0.15975*60%/35%)=0.38491BTC/share then.

Therefore, while people who drove the price of MU high are of course optimistic towards our business, they probably are good at math as well.

[friedcat]

Weekly Financial Disclosure

Time: 09:30 AM, Beijing time
Date: May 02, 2012

Funds of Last Week: 189.277 BTC

Assets:

BitBond
Original: 134shares 79.730BTC
Bought in: 141shares 84.600BTC
Average Holding Price: (83.616+84.600)/(134+141)=0.598BTC
Sold: 127shares 79.191*(1-0.5%)=78.795BTC
Average Selling Price: 0.620BTC
Holding: 134+141-127=148shares 88.504BTC
Net Gain: (0.620-0.598)*127=2.794BTC
Dividends Paid: 1.472BTC

Gigamining
Original: 40shares 52.400BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.310BTC
Sold: 4shares 5.960*(1-0.0%)=5.960BTC
Average Selling Price: 1.490BTC
Holding: 40+0-4=36shares 47.160BTC
Net Gain: (1.490-1.310)*4=0.720BTC
Dividends Paid: 0.916BTC

BFLS
Original: 0shares 0.000BTC
Bought in: 8shares 9.150BTC
Average Holding Price: 1.144BTC
Sold: 8shares 9.750*(1-0.0%)=9.750BTC
Average Selling Price: 1.219BTC
Holding: 0+8-8=0shares 0.000BTC
Net Gain: 9.750-9.150=0.600BTC
Dividends Paid: 0.015BTC

BDK
Original: 0shares 0.000BTC
Bought in: 395shares 26.070BTC
Average Holding Price: 0.066BTC
Sold: 245shares 27.697*(1-0.5%)=27.559BTC
Average Selling Price: 0.112BTC
Holding: 0+395-245=150shares 9.900BTC
Net Gain: (0.112-0.066)*245=11.270BTC
Dividends Paid: 0.000BTC

JLP-BMD
Original: 0shares 0.000BTC
Bought in: 200shares 50.000BTC
Average Holding Price: 0.250BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 0+200-0=200shares 50.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

Holding Funds=
189.277-84.600+78.795+1.472-0.000+5.960+0.916-9.150+9.750+0.015-26.070+27.559+0.000-50.000+0.000+0.000=143.924BTC

Total Net Gain=
2.794+1.472+0.720+0.916+0.600+0.015+11.270+0.000+0.000+0.000=17.787BTC

Calculated Dividends: 17.787*35%=6.225BTC

Usable Funds: 143.924-6.225=137.699BTC (The CEO does not take any fee this week)

Actual Dividends: 6.22367728BTC (For Adjusting the rounding errors)

NAV: 137.699+148*0.634+36*1.504+150*0.141+200*0.248=356.425BTC
weekly NAV growth: 356.425/333.152-1=6.99%

[friedcat]

Update

Three motions have been raised. The contents in two of them were mentioned before in this thread, but since we did not get many replies towards them, we finally decided to create corresponding motions.

[friedcat]

Update

As everyone can see from our financial report, in the last two weeks our weekly ROI exceeded 5% with respect to the IPO price. This is close to the highest return rates in the Bitcoin world, and what makes us special is that we are recklessly open with our financial data.

Someone may say this kind of high return rates couldn't last forever. Of course it won't, or it only takes 330.4 weeks (less than six and a half years) for our fund to consume all of the 21 million Bitcoins. Such a speedy growth has to slow down in the future, and the question is when.

We ourselves are very optimistic towards μ. The reasons of high return rates include some luck, of course. But more importantly, it's the evolution of GLBSE, the thriving of new startups, and the relatively high return rates of mining, that contributes much more to our profits. We believe that none of these conditions will change in a short time, so expect a fast and steady growth.

[highlevelminer]

I will be releasing a new promotional vlog centering interest on your business as well as the diablomining venture.

Congrats!

[highlevelminer]

Okay video is being processed but fully uploaded and available for view when requested.

Placed your company in a positive lite as a future stop for bitcoin business owners looking to generate start up capital. Also shed some light on Diablo Mining's mining venture.

Here's the link: http://www.youtube.com/watch?v=8axlbBh3nMk

Enjoy!

[friedcat]

Okay video is being processed but fully uploaded and available for view when requested.

Placed your company in a positive lite as a future stop for bitcoin business owners looking to generate start up capital. Also shed some light on Diablo Mining's mining venture.

Here's the link: http://www.youtube.com/watch?v=8axlbBh3nMk

Enjoy!

Thank you very much! I didn't expect someone will be so kind to do advertisement on youtube for us. I'll watch it.

At this moment, we are rather small and our funds are limited, so startups might not be getting very much from us. But if our second round fundraising is doing well, we may be able to be interesting to new startups. But we want to emphasis again here as in the OP when μ was created, that it is better for you to get our funds to first pretend that we do not exist, try to introduce your company well on the forums or your own webpages, and raise funds on GLBSE. It will both reduce your cost of asking and our cost of investigation.

[friedcat]

The MU Index for GLBSE

40.02 (kBTC)
203.72 (kDollar)

BTC Price: 5.090$

TyGrr-Bot
  Category: Long Term Bond
  Business: Arbitraging
  Shares in Circulation: 7122
  Avg Price: 1.097BTC
  Total Value: 7812.834BTC
  Total Value in Dollar: 39767.325$

PureMining
  Category: Perpetual Bond
  Business: Mining
  Shares in Circulation: 10000
  Avg Price: 0.441BTC
  Total Value: 4410.000BTC
  Total Value in Dollar: 22446.900$

GigaMining
  Category: Perpetual Bond
  Business: Mining
  Shares in Circulation: 10000
  Avg Price: 1.506BTC
  Total Value: 15060.000BTC
  Total Value in Dollar: 76655.400$

Cognitive
  Category: Stock
  Business: Mining
  Shares in Circulation: 5000
  Avg Price: 0.581BTC
  Total Value: 2905.000BTC
  Total Value in Dollar: 14786.450$

FPGA.contract
  Category: Stock
  Business: Mining
  Shares in Circulation: 6000
  Avg Price: 0.355BTC
  Total Value: 2130.000BTC
  Total Value in Dollar: 10841.700$

BFLS
  Category: Stock
  Business: Mining
  Shares in Circulation: 2000
  Avg Price: 1.250BTC
  Total Value: 2500.000BTC
  Total Value in Dollar: 12725.000$

BMMO
  Category: Stock
  Business: Mining
  Shares in Circulation: 6620
  Avg Price: 0.364BTC
  Total Value: 2409.680BTC
  Total Value in Dollar: 12265.271$

SS
  Category: Stock
  Business: Fund
  Shares in Circulation: 610
  Avg Price: 2.485BTC
  Total Value: 1515.850BTC
  Total Value in Dollar: 7715.677$

MU
  Category: Stock
  Business: Fund
  Shares in Circulation: 3000
  Avg Price: 0.427BTC
  Total Value: 1281.000BTC
  Total Value in Dollar: 6520.290$

[friedcat]

Update

Three motions have been raised. The contents in two of them were mentioned before in this thread, but since we did not get many replies towards them, we finally decided to create corresponding motions.

All of the three motions are passed.

ID 19: Yay-132 Nay-41
ID 20: Yay-613 Nay-42
ID 21: Yay-660 Nay-3

The numbers of total votes are relatively low, however. We guess it's because some people are not familiar with the new look of GLBSE and some have missed the message in this thread. Nevertheless, we also have already contacted some of our major shareholders, and got their approvals.

Our plans according to the motions will be announced soon, and the actual actions will be taken later than the notification.

[friedcat]

Update

The second round public offering will soon be released. For further information, please read the OP.

[friedcat]

Update

The public offering already starts! Get yourself a part of μ on GLBSE, and profit!

[friedcat]

Update

During the last 24 hours, all of the private offering shares are pre-ordered, and more than half of the public offering shares are sold out.

Catch them if you can.

[friedcat]

Weekly Financial Disclosure

Time: 11:04 AM, Beijing time
Date: May 09, 2012

Funds of Last Week: 137.699 BTC

Newly Raised Funds: 842.841 BTC

Assets:

BitBond
Original: 148shares 88.504BTC
Bought in: 597shares 364.397BTC
Average Holding Price: (88.504+364.397)/(148+597)=0.608BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 148+597-0=745shares 452.901BTC
Net Gain: 0.000BTC
Dividends Paid: 1.520BTC

Gigamining
Original: 36shares 47.160BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.310BTC
Sold: 36shares 56.592*(1-0.5%)=56.309BTC
Average Selling Price: 1.564BTC
Holding: 36+0-36=0shares 0.000
Net Gain: 56.309-47.160=9.149
Dividends Paid: 0.000BTC

BDK
Original: 150shares 9.900BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.066BTC
Sold: 84shares 16.716*(1-0.5%)=16.632BTC
Average Selling Price: 0.198BTC
Holding: 150+0-84=66shares 4.356BTC
Net Gain: (0.198-0.066)*84=11.088BTC
Dividends Paid: 0.141BTC

JLP-BMD
Original: 200shares 50.000BTC
Bought in: 508shares 126.892BTC
Average Holding Price: (50.000+126.892)/(200+508)=0.250BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 200+508-0=708shares 176.892BTC
Net Gain: 0.000BTC
Dividends Paid: 1.346BTC

Cognitive
Original: 0shares 0.000BTC
Bought in: 300shares 156.300BTC
Average Holding Price: (0.000+156.300)/(0+300)=0.521BTC
Sold: 30shares 16.500BTC
Average Selling Price: 0.55BTC
Holding: 0+300-30=270shares 140.670BTC
Net Gain: (0.55-0.521)*30=0.870BTC
Dividends Paid: 0.000BTC

PPT.C
Original: 0shares 0.000BTC
Bought in: 77shares 83.161BTC
Average Holding Price: (0.000+83.161)/(0+77)=1.080BTC
Sold: 77shares 88.935*(1-0.5%)=88.490
Average Selling Price: 1.149
Holding: 0+77-77=0shares 0.000BTC
Net Gain: 88.490-83.161=5.329BTC
Dividends Paid: 0.000BTC

Holding Funds=
137.699+842.841-364.397+0.000+1.520-0.000+56.309+0.000-0.000+16.632+0.141-
126.892+0.000+1.346-156.300+16.500+0.000-83.161+88.490=430.728BTC

Total Net Gain=
0.000+1.520+9.149+0.000+11.088+0.141+0.000+1.346+0.870+0.000+5.329+0.000=29.443BTC

Calculated Dividends: 29.443*100%=29.443BTC (100% dividends during fundraising)

Usable Funds: 430.728-29.443=401.285BTC

Actual Dividends: 29.443614BTC (For Adjusting the rounding errors)

NAV: 401.285+270*0.537+745*0.625+66*0.14+708*0.249=1197.432BTC
Weekly NAV growth: N/A (expansion stage)

[friedcat]

Update

The second round of public offering has finished. All the 1,200 public and 700 private shares are all sold out, much more quickly than we thought. The CEO permanently gives up his fee and takes 100 shares as his compensation, as was passed by the motion.

Thank to all new and old investors. We've successfully expanded to a larger scale now. Towards great value and growth we are coming!

[BurtW]

My dividend on 2012-05-08 sure was nice.  Thank you and keep up the good work!

[friedcat]

My dividend on 2012-05-08 sure was nice.  Thank you and keep up the good work!

Thanks.

The liquidity and volume of GLBSE stocks is growing. The more professional look-and-feel is attracting more people. New assets keep being bumped out. Though we are cautious about most of them, they are a good sign. Opportunities for arbitraging, maket making, and long-time holding are also becoming more and more.

In a word, the growth of μ is and will be very healthy.

[friedcat]

The MU Index for GLBSE

44.11 (kBTC)
218.94 (kDollar)

BTC Price: 4.963$

TyGrr-Bot
  Category: Long Term Bond
  Business: Arbitraging
  Shares in Circulation: 7326
  Avg Price: 0.967BTC
  Total Value: 7084.242BTC
  Total Value in Dollar: 35159.093$

PureMining
  Category: Perpetual Bond
  Business: Mining
  Shares in Circulation: 10000
  Avg Price: 0.450BTC
  Total Value: 4500.000BTC
  Total Value in Dollar: 22333.500$

GigaMining
  Category: Perpetual Bond
  Business: Mining
  Shares in Circulation: 10000
  Avg Price: 1.494BTC
  Total Value: 14940.000BTC
  Total Value in Dollar: 74147.220$

Cognitive
  Category: Stock
  Business: Mining
  Shares in Circulation: 5000
  Avg Price: 0.533BTC
  Total Value: 2665.000BTC
  Total Value in Dollar: 13226.395$

FPGA.contract
  Category: Stock
  Business: Mining
  Shares in Circulation: 6000
  Avg Price: 0.372BTC
  Total Value: 2232.000BTC
  Total Value in Dollar: 11077.416$

BFLS
  Category: Stock
  Business: Mining
  Shares in Circulation: 3600
  Avg Price: 1.600BTC
  Total Value: 5760.000BTC
  Total Value in Dollar: 28586.880$

BMMO
  Category: Stock
  Business: Mining
  Shares in Circulation: 6782
  Avg Price: 0.336BTC
  Total Value: 2278.752BTC
  Total Value in Dollar: 11309.446$

SS
  Category: Stock
  Business: Fund
  Shares in Circulation: 610
  Avg Price: 1.900BTC
  Total Value: 1159.000BTC
  Total Value in Dollar: 5752.117$

MU
  Category: Stock
  Business: Fund
  Shares in Circulation: 5000
  Avg Price: 0.699BTC
  Total Value: 3495.000BTC
  Total Value in Dollar: 17345.685$

[friedcat]

What we do and how we are different

As we grow larger, we are probably getting many new and potential investors who don't have the time to study our history data of financial disclosure, our structure or policies. Here we explain μ with a shorter and clearer manner.

The business of μ contains:
1. investment on valuable new stocks and bonds.
2. market making.
3. arbitraging.
4. value investment on old existing assets.
5. providing loans.
6. funding startups outside the GLBSE system.
Now we are only doing 1-4. We may do 5 and 6 in the future, but we will be extremely careful and make sure that the involved risks are rigidly controlled.

What makes μ different:
1. We are a stock, not a bond. Which means that:
    (1) you can vote if you are one of the shareholders.
    (2) you actually own your portion of μ's net asset value.
    (3) you can give us public or private suggestions, which will possibly be accepted by the CEO and turned into motions.
2. Each of our mid-time or long-time positions was and will ever be assets with a business model that is sound, public, and easy to understand. We may participate in high-risk assets, but only for arbitraging, and we will keep the time of holding them as short as possible.
3. Our name is the shortest of all.

[friedcat]

Weekly Financial Disclosure

Time: 10:54 AM, Beijing time
Date: May 16, 2012

Funds of Last Week: 401.285BTC

Newly Raised Funds: 102.919 BTC

Assets:

BitBond
Original: 745shares 452.901BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.608BTC
Sold: 344shares 220.160BTC
Average Selling Price: 0.640BTC
Holding: 745+0-344=401shares 243.808BTC
Net Gain: (0.640-0.608)*344=11.008BTC
Dividends Paid: 3.919BTC

BDK
Original: 66shares 4.356BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.066BTC
Sold: 56shares 11.144BTC
Average Selling Price: 0.199BTC
Holding: 66+0-56=10shares 0.660BTC
Net Gain: (0.199-0.066)*56=7.448BTC
Dividends Paid: 0.025BTC

JLP-BMD
Original: 708shares 176.892BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.250BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 708+0-0=708shares 176.892BTC
Net Gain: 0.000BTC
Dividends Paid: 1.444BTC

Cognitive
Original: 270shares 140.670BTC
Bought in: 300shares 155.200BTC
Average Holding Price: (140.670+155.200)/(270+300)=0.519BTC
Sold: 270shares 151.180BTC
Average Selling Price: 0.560BTC
Holding: 270+300-270=300shares 155.700BTC
Net Gain: (0.56-0.519)*270=11.700BTC
Dividends Paid: 1.733BTC

TEEK.B
Original: 0shares 0.000BTC
Bought in: 200shares 190.000BTC
Average Holding Price: (0+190.000)/(0+200)=0.950BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 0+200-0=200shares 190.000BTC
Net Gain: 0.000BTC
Dividends Paid: 3.600BTC

YABMC
Original: 0shares 0.000BTC
Bought in: 500shares 150.000BTC
Average Holding Price: (0+150.000)/(0+500)=0.300BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 0+500-0=500shares 150.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

Holding Funds=
401.285+102.919-0.000+220.160BTC+3.919-0.000+11.144+0.025-0.000+0.000+1.444-
155.200+151.180+1.733-190.000+0.000+3.600-150.000+0.000+0.000=402.209

Total Net Gain=
11.008+3.919+7.448+0.025+0.000+1.444+11.700+1.733+0.000+3.600+0.000+0.000=40.877BTC

Calculated Dividends: 40.877*100%=40.877BTC (100% dividends during fundraising)

Usable Funds: 402.209-40.877=361.332BTC

Actual Dividends: 40.877BTC (For Adjusting the rounding errors)

NAV: 361.332+300*0.587+401*0.646+10*0.191+708*0.246+200*1.005+500*0.303=1325.056BTC
Weekly NAV Growth: N/A (expansion stage)

[friedcat]

Weekly Financial Disclosure

Time: 11:04 AM, Beijing time
Date: May 23, 2012

Funds of Last Week: 361.332BTC
Number of Total Shares in Circulation: 5000

Assets:

BitBond
Original: 401shares 243.808BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.608BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 401+0-0=401shares 243.808BTC
Net Gain: 0.000BTC
Dividends Paid: 3.421BTC

BDK
Original: 10shares 0.660BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.066BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 10+0-0=10shares 0.660BTC
Net Gain: 0.000BTC
Dividends Paid: 0.025BTC

JLP-BMD
Original: 708shares 176.892BTC
Bought in: 910shares 228.638BTC
Average Holding Price: (176.892+228.638)/(708+910)=0.251BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 708+910-0=1618shares 405.530BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

Cognitive
Original: 300shares 155.700BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.519BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 300+0-0=300shares 155.700BTC
Net Gain: 0.000BTC
Dividends Paid: 1.372BTC

TEEK.B
Original: 200shares 190.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.950BTC
Sold: 130shares 135.470BTC
Average Selling Price: 1.042BTC
Holding: 200+0-130=70shares 66.500BTC
Net Gain: (1.042-0.950)*130=11.960BTC
Dividends Paid: 3.024BTC

YABMC
Original: 500shares 150.000BTC
Bought in: 1000shares 280.000BTC
Average Holding Price: (150.000+280.000)/(500+1000)=0.287BTC
Sold: 351shares 109.020BTC
Average Selling Price: 0.311BTC
Holding: 500+1000-351=1149shares 329.763BTC
Net Gain: (0.311-0.287)*351=8.424BTC
Dividends Paid: 0.000BTC

PPT.E
Original: 0shares 0.000BTC
Bought in: 250shares 278.750BTC
Average Holding Price: (0.000+278.750)/(0+250)=1.115BTC
Sold: 250shares 285.642BTC
Average Selling Price: 1.143BTC
Holding: 0+250-250=0shares 0.000BTC
Net Gain: 285.642-278.750=6.892BTC
Dividends Paid: 0.000BTC

REBATE
Original: 0shares 0.000BTC
Bought in: 100shares 19.000BTC
Average Holding Price: (0.000+19.000)/(0+100)=0.190BTC
Sold: 100shares 24.900BTC
Average Selling Price: 0.249BTC
Holding: 0+100-100=0shares 0.000BTC
Net Gain: 24.900-19.000=5.900BTC
Dividends Paid: 0.000BTC

Holding Funds=
361.332-0.000+0.000+3.421-0.000+0.000+0.025-228.638+0.000+0.000-0.000+0.000+1.372-
0.000+135.470+3.024-280.000+109.020+0.000-278.750+285.642+0.000-19.000+24.900+0.000=117.818BTC

Total Net Gain=
0.000+3.421+0.000+0.025+0.000+0.000+11.960+3.024+8.424+0.000+6.892+0.000+5.900+0.000=39.376BTC

Calculated Dividends: 39.376*35%=13.782BTC

Usable Funds: 117.818-13.782=104.036BTC

Actual Dividends: 13.782BTC

NAV: 104.036+300*0.570+401*0.655+10*0.239+1618*0.249+70*1.046+1149*0.295=1355.138BTC
Weekly NAV Growth: (1355.138-1325.056)/1325.056-1=2.270%

[brendio]

NAV: 104.036+300*0.570+401*0.655+10*0.239+1618*0.249+70*1.046+1149*0.295=1355.138BTC
Weekly NAV Growth: (1355.138-1325.056)/1325.056-1=2.270%

Market cap = 10000 * 0.526 = 5260 BTC
Market cap/NAV=3.88 times

Very impressive. Investors evidently have a high opinion of your investing abilities!

[friedcat]

NAV: 104.036+300*0.570+401*0.655+10*0.239+1618*0.249+70*1.046+1149*0.295=1355.138BTC
Weekly NAV Growth: (1355.138-1325.056)/1325.056-1=2.270%

Market cap = 10000 * 0.526 = 5260 BTC
Market cap/NAV=3.88 times

Very impressive. Investors evidently have a high opinion of your investing abilities!

Well there are only 5,000 shares in circulation now. Therefore it's just 1.94 times.

It's not so crazy. Even when the last two weeks are a little cloudy, both our dividends and growth rates are still quite sweet so far.

[brendio]

NAV: 104.036+300*0.570+401*0.655+10*0.239+1618*0.249+70*1.046+1149*0.295=1355.138BTC
Weekly NAV Growth: (1355.138-1325.056)/1325.056-1=2.270%

Market cap = 10000 * 0.526 = 5260 BTC
Market cap/NAV=3.88 times

Very impressive. Investors evidently have a high opinion of your investing abilities!

Well there are only 5,000 shares in circulation now. Therefore it's just 1.94 times.

It's not so crazy. Even when the last two weeks are a little cloudy, both our dividends and growth rates are still quite sweet so far.

Security issued:10000

Where are the other 5000? I think these need to be either taken into account in your financials (as bonds reserved for sale and valued at ??) or cancelled so that the GLBSE info corresponds with your financials. Otherwise, it is hard for someone to make a fair evaluation of the value of your fund. Not that many people even think about value when using GLBSE ). But you may be losing investors, who, for example, would pay 1.94 times but not 3.88 times NAV.

[friedcat]

Thanks for your advice, we will include the actual number of shares in our financial report from now on.

The other 5,000 are still reserved for future sale. We started from 3,000 shares, and expanded to 5,000 two weeks ago, with the releasing date and price of the rest shares undecided yet. Our fund is highly shareholders-controlled, and any expansion plans need to be passes as motions first.

[JWU42]

Thanks for the dividend!  Wish it was higher 

YABMC coupon this week (tomorrow) will help for next week!

[friedcat]

Thanks for the dividend!  Wish it was higher 

You are welcome. I wish it was higher too, and tempted to do larger investment on new pirate-related assets, but we finally decided to always stick to a conservative investment policy, and don't hold higher-risk assets for too long.

YABMC coupon this week (tomorrow) will help for next week!

Of course. And after the ask wall is eaten over, I hope there will be some considerable increasing in price.

[matthewh3]

I know you didn't have much faith in me when I first started but I have received a board and have been paying weekly dividends for four weeks from tomorrow.  I'm hoping board #2 ships by tomorrow effectively doubling the whole weekly dividend and we have about 650 shares at 0.4 for board three.  Which I could get shipped within a week.  A new bitstream is being worked on for the boards we use and I've estimated at current difficulty with all shares sold and having three boards our weekly dividend per share would be over 0.00485000btc with the new bitstream.  Even without the new bitstream with all shares sold and having board #3 at current difficulty our weekly dividend per share will be up to 0.0040btc.  Also all shares purchased are backed and insured by the hardware.  Meaning if we were ever to fold all the hardware would be sold (we have currently paid for over $2,100 of boards) and paid out in one big dividend.  So you can't loose your money.  Thanks.  Matt.  Red Star Mining.     

[friedcat]

Update

The second round of public offering has finished. All the 1,200 public and 700 private shares are all sold out, much more quickly than we thought. The CEO permanently gives up his fee and takes 100 shares as his compensation, as was passed by the motion.

Thank to all new and old investors. We've successfully expanded to a larger scale now. Towards great value and growth we are coming!

That's an interesting idea. If you had 1 bitcoin dividend among 95 shares with a 5% management fee, each share would receive 0.01 bitcoins dividend. but if you had 100 shares (but you owned 5 of them) then each share would still, obviously, receive 0.01 bitcoins dividend. In fact I like that idea a lot as it eases the accounting to a great degree. You're a smart guy, I don't think I ever would have thought of that.

Well I think it's quite a standard way of compensation for managers. Cognitive, FPGA.contract and TyGrr did that long before.

[brendio]

Update

The second round of public offering has finished. All the 1,200 public and 700 private shares are all sold out, much more quickly than we thought. The CEO permanently gives up his fee and takes 100 shares as his compensation, as was passed by the motion.

Thank to all new and old investors. We've successfully expanded to a larger scale now. Towards great value and growth we are coming!

That's an interesting idea. If you had 1 bitcoin dividend among 95 shares with a 5% management fee, each share would receive 0.01 bitcoins dividend. but if you had 100 shares (but you owned 5 of them) then each share would still, obviously, receive 0.01 bitcoins dividend. In fact I like that idea a lot as it eases the accounting to a great degree. You're a smart guy, I don't think I ever would have thought of that.

Well I think it's quite a standard way of compensation for managers. Cognitive, FPGA.contract and TyGrr did that long before.

I'm not sure that's correct about TyGrr. From memory, Goat kept a majority of the company based on his own assets put in, but the management fee comes out of the dividends.

[friedcat]

Update

The second round of public offering has finished. All the 1,200 public and 700 private shares are all sold out, much more quickly than we thought. The CEO permanently gives up his fee and takes 100 shares as his compensation, as was passed by the motion.

Thank to all new and old investors. We've successfully expanded to a larger scale now. Towards great value and growth we are coming!

That's an interesting idea. If you had 1 bitcoin dividend among 95 shares with a 5% management fee, each share would receive 0.01 bitcoins dividend. but if you had 100 shares (but you owned 5 of them) then each share would still, obviously, receive 0.01 bitcoins dividend. In fact I like that idea a lot as it eases the accounting to a great degree. You're a smart guy, I don't think I ever would have thought of that.

Well I think it's quite a standard way of compensation for managers. Cognitive, FPGA.contract and TyGrr did that long before.

I'm not sure that's correct about TyGrr. From memory, Goat kept a majority of the company based on his own assets put in, but the management fee comes out of the dividends.

I checked the main thread of TyGrr Tech again. I guess you are right.

We used the fee structure before, though we never really took any fee during that time. Later we passed a motion to give the CEO 5% of the new shares whenever we do expansion (https://glbse.com/vote/view/21).

[friedcat]

The MU Index for GLBSE

60.32 (kBTC)
309.31 (kDollar)

BTC Price: 5.128$

TyGrr-Bot
  Category: Long Term Bond
  Business: Arbitraging
  Shares in Circulation: 7326
  Avg Price: 0.971BTC
  Total Value: 7113.546BTC
  Total Value in Dollar: 36478.264$

PureMining
  Category: Perpetual Bond
  Business: Mining
  Shares in Circulation: 10000
  Avg Price: 0.438BTC
  Total Value: 4380.000BTC
  Total Value in Dollar: 22460.640$

GigaMining
  Category: Perpetual Bond
  Business: Mining
  Shares in Circulation: 20000
  Avg Price: 1.504BTC
  Total Value: 30080.000BTC
  Total Value in Dollar: 154250.240$

Cognitive
  Category: Stock
  Business: Mining
  Shares in Circulation: 5000
  Avg Price: 0.583BTC
  Total Value: 2915.000BTC
  Total Value in Dollar: 14948.120$

FPGA.contract
  Category: Stock
  Business: Mining
  Shares in Circulation: 6000
  Avg Price: 0.373BTC
  Total Value: 2238.000BTC
  Total Value in Dollar: 11476.464$

BFLS
  Category: Stock
  Business: Mining
  Shares in Circulation: 4210
  Avg Price: 1.600BTC
  Total Value: 6736.000BTC
  Total Value in Dollar: 34532.208$

BMMO
  Category: Stock
  Business: Mining
  Shares in Circulation: 6931
  Avg Price: 0.326BTC
  Total Value: 2259.506BTC
  Total Value in Dollar: 11586.747$

SS
  Category: Stock
  Business: Fund
  Shares in Circulation: 610
  Avg Price: 2.172BTC
  Total Value: 1324.920BTC
  Total Value in Dollar: 6794.190$

MU
  Category: Stock
  Business: Fund
  Shares in Circulation: 5000
  Avg Price: 0.650BTC
  Total Value: 3250.000BTC
  Total Value in Dollar: 16666.000$

[friedcat]

Update

The MU index is a hobby-like project at this moment. Its frequency and authority is not guaranteed.

We will evolve it to a much regular and professional index based on a fixed formula to evaluate performance and decide which assets to contain, when we have enough time.

[friedcat]

Weekly Financial Disclosure

Time: 13:31 AM, Beijing time
Date: May 30, 2012

Funds of Last Week: 104.036BTC
Number of Total Shares in Circulation: 5000

Assets:

BitBond
Original: 401shares 243.808BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.608BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 401+0-0=401shares 243.808BTC
Net Gain: 0.000BTC
Dividends Paid: 3.524BTC

BDK
Original: 10shares 0.660BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.066BTC
Sold: 10shares 1.850BTC
Average Selling Price: 0.185BTC
Holding: 10+0-10=0shares 0.000BTC
Net Gain: 1.850-0.660=1.190BTC
Dividends Paid: 0.000BTC

JLP-BMD
Original: 1618shares 405.530BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.251BTC
Sold: 48shares 14.400BTC
Average Selling Price: 0.3BTC
Holding: 1618+0-48=1570shares 394.070BTC
Net Gain: (0.3-0.251)*48=2.352BTC
Dividends Paid: 11.452BTC

Cognitive
Original: 300shares 155.700BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.519BTC
Sold: 200shares 119.800BTC
Average Selling Price: 0.599BTC
Holding: 300+0-200=100shares 51.900BTC
Net Gain: (0.599-0.519)*200=16.000BTC
Dividends Paid: 0.277BTC

TEEK.B
Original: 70shares 66.500BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.950BTC
Sold: 70shares 72.660BTC
Average Selling Price: 1.038BTC
Holding: 70+0-70=0shares 0.000BTC
Net Gain: (1.038-0.950)*70=6.160BTC
Dividends Paid: 0.000BTC

YABMC
Original: 1149shares 329.763BTC
Bought in: 200shares 54.108BTC
Average Holding Price: (329.763+54.108)/(1149+200)=0.285BTC
Sold: 10shares 3.200BTC
Average Selling Price: 0.320BTC
Holding: 1149+200-10=1339shares 381.615BTC
Net Gain: (0.320-0.285)*10=0.350BTC
Dividends Paid: 15.867BTC

Holding Funds=
104.036-0.000+0.000+3.524-0.000+1.850+0.000-0.000+14.400+11.452-0.000+119.800+0.277-
0.000+72.600+0.000-54.108+0.320+15.867=290.018BTC

Total Net Gain=
0.000+3.524+1.190+0.000+2.352+11.452+16.000+0.277+6.160+0.000+0.350+15.867=57.172BTC

Calculated Dividends: 53.735*35%=20.010BTC

Usable Funds: 290.018-20.010=270.008BTC

Actual Dividends: 20.010BTC

NAV: 270.008+100*0.593+401*0.625+1570*0.267+1339*0.299=1399.484BTC
Weekly NAV Growth: (1399.484-1355.138)/1355.138=3.272%

[Bitcoin Oz]

I like what you are doing with this fund and enjoy your updates

[friedcat]

I like what you are doing with this fund and enjoy your updates

Thank you very much for your appreciation.

We think till now the biggest advantage of choosing our fund, is that we provide a nice option for people who want nice return rates without directly or indirectly involved in Pirate -- In spite of being away from Pirate, our return rates are not bad at all.

We did buy some PPT.x bonds before, but we just quickly sold them off within hours and reduced the risk to a very low level. We are even less unlikely to do that again in the future. So we are moving from "almost-Pirate-free" to "totally-Pirate-free".

So we suggest people to buy our shares if they want diversity. We probably could never make 7% a week as Pirate does, but our financials are public, and we only invest in businesses of which the business models are open.

[JWU42]

Nice improvement on the dividend this week - up over 40% from last week.

[friedcat]

Nice improvement on the dividend this week - up over 40% from last week.

Thanks. Maximization of our shareholders' dividends and NAV in a long run with an acceptable risk level is the only purpose of MU.

[Bitcoin Oz]

I picked up a small amount of shares

[friedcat]

I picked up a small amount of shares

Thanks again.

We have to say that, even ourselves consider MU amazing, because of its past performance of continuously beating the market for nearly two months, which are not a short time in the Bitcoin world. And we did it mostly by trading mining assets. They are relatively less risky. Someone might say that actively maintained mutual funds can't beat ETFs or the average market in the long run, but let's see.

[friedcat]

Weekly Financial Disclosure

Time: 13:14 AM, Beijing time
Date: June 6, 2012

Funds of Last Week: 270.008BTC
Number of Total Shares in Circulation: 5000

Assets:

BitBond
Original: 401shares 243.808BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.608BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 401+0-0=401shares 243.808BTC
Net Gain: 0.000BTC
Dividends Paid: 3.726BTC

JLP-BMD
Original: 1570shares 394.070BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.251BTC
Sold: 31shares 8.990BTC
Average Selling Price: 0.290BTC
Holding: 1570+0-31=1539shares 386.289BTC
Net Gain: (0.290-0.251)*31=1.209BTC
Dividends Paid: 0.000BTC

Cognitive
Original: 100shares 51.900BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.519BTC
Sold: 100shares 60.300BTC
Average Selling Price: 0.603BTC
Holding: 100+0-100=0shares 0.000BTC
Net Gain: 60.300-51.900=8.400BTC
Dividends Paid: 0.000BTC

YABMC
Original: 1339shares 381.615BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.285BTC
Sold: 234shares 67.626BTC
Average Selling Price: 0.289BTC
Holding: 1339+0-234=1105shares 314.925BTC
Net Gain: (0.289-0.285)*234=0.936BTC
Dividends Paid: 5.409BTC

PIMP
Original: 0shares 0.000BTC
Bought in: 300shares 75.000BTC
Average Holding Price: 0.250BTC
Sold: 0shares 0.000BTC
Average Selling Price: 0.000BTC
Holding: 0+300-0=300shares 75.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

Holding Funds=
270.008-0.000+0.000+3.726-0.000+8.990+0.000-0.000+60.300+0.000-0.000+67.626+5.409-75.000+0.000+0.000=341.059BTC

Total Net Gain=
0.000+3.726+1.209+0.000+8.400+0.000+0.936+5.409+0.000+0.000=19.680BTC

Calculated Dividends: 19.680*35%=6.888BTC

Usable Funds: 341.059-6.888=334.171BTC

Actual Dividends: 6.888BTC

NAV: 334.171+401*0.606+1539*0.287+1105*0.287+300*0.250=1411.005BTC
Weekly NAV Growth: (1411.005-1399.484)/1399.484=0.823%

[friedcat]

Update

It's a relatively gloomy week. Our NAV increased less than 1%, and the dividends are not very much.

We plan a major adaptation of our portfolio and positions. We have to say, the portfolio adjustment is very important and necessary in the long run. The low liquidity and the bearish trend of mining bonds caused us some profit loss during the adjustment. We are relieved that it's just profit loss, not loss.

[JWU42]

Thanks for the dividend.  Agreed the market has turned bearish on mining bonds 

[Bitcoin Oz]

Thanks for the dividend.  Agreed the market has turned bearish on mining bonds 

Think thats because the block reward halving is coming ?

[redbeans2012]

Thanks for the dividend.  Agreed the market has turned bearish on mining bonds 

Think thats because the block reward halving is coming ?

I was thinking people were cashing out and moving over to pirate bonds. 

[BurtW]

That may be part of it but I expect it is more:

BTC prices going up
A lot of mining bonds on the market - a flood of them, so large supply chasing a finite demand
Maybe a little of people moving BTC to Pirate

[Bitcoin Oz]

That may be part of it but I expect it is more:

BTC prices going up
A lot of mining bonds on the market - a flood of them, so large supply chasing a finite demand
Maybe a little of people moving BTC to Pirate

This is probably true. Would be nice if there was a wider variety of companies on there too.

[friedcat]

Update

A motion has been raised to ask our shareholders if they allow us to make loans of mining bonds and provide the service for people who want to short mining bonds.

[BurtW]

Update

A motion has been raised to ask our shareholders if they allow us to make loans of mining bonds and provide the service for people who want to short mining bonds.

No Way!  That is what I am doing. 

[Bitcoin Oz]

Update

A motion has been raised to ask our shareholders if they allow us to make loans of mining bonds and provide the service for people who want to short mining bonds.

+1

I see a need for this. With the difficulty rising fixed mining bonds will only drop in future!

[friedcat]

Weekly Financial Disclosure

Time: 12:17 PM, Beijing time
Date: June 13, 2012

Funds of Last Week: 334.171BTC
Number of Total Shares in Circulation: 5000

Assets:

BitBond
Original: 401shares 243.808BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.608BTC
Sold: 401shares 244.971BTC
Average Selling Price: 0.611BTC
Holding: 401+0-401=0shares 0.000BTC
Net Gain: 244.971-243.808=1.163BTC
Dividends Paid: 1.609BTC

JLP-BMD
Original: 1539shares 386.289BTC
Bought in: 30shares 7.510BTC
Average Holding Price: (386.289+7.510)/(1539+30)=0.251BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1539+30-0=1569shares 393.819BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

YABMC
Original: 1105shares 314.925BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.285BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1105+0-0=1105shares 314.925BTC
Net Gain: 0.000BTC
Dividends Paid: 4.905BTC

PIMP
Original: 300shares 75.000BTC
Bought in: 500shares 110.000BTC
Average Holding Price: (75.000+110.000)/(300+500)=0.231BTC
Sold: 1shares 0.250BTC
Average Selling Price: 0.250BTC
Holding: 300+500-1=799shares 184.569BTC
Net Gain: (0.250-0.231)*1=0.019BTC
Dividends Paid: 1.329BTC

MOVETO.FUND
Original: 0shares 0.000BTC
Bought in: 150shares 150.000BTC
Average Holding Price: (0.000+150.000)/(0+150)=1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 0+150-0=150shares 150.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

GIGAMINING
Original: 0shares 0.000BTC
Bought in: 250shares 318.750BTC
Average Holding Price: (0.000+318.750)/(0+250)=1.275BTC
Sold: 250shares 337.751BTC
Average Selling Price: 1.351BTC
Holding: 0+250-250=0shares 0.000BTC
Net Gain: 337.751-318.750=19.001BTC
Dividends Paid: 0.000BTC

Holding Funds=
334.171-0.000+244.971+1.609-7.510+0.000+0.000-0.000+0.000+4.905-110.000+0.250+1.329-150.000+0.000+0.000-
318.750+337.751=338.726BTC

Total Net Gain=
1.163+1.609+0.000+0.000+0.000+4.905+0.019+1.329+0.000+0.000+19.001+0.000=28.026BTC

Calculated Dividends: 28.026*35%=9.809BTC

Usable Funds: 338.726-9.809=328.917BTC

Actual Dividends: 9.809BTC

NAV: 328.917+1569*0.248+1105*0.265+799*0.248+150*1.000=1359.006BTC
Weekly NAV Growth: (1359.006-1411.005)/1411.005=-3.685%

[friedcat]

Update

As you could see, we have a very unconventional calculation of dividends, therefore we are still paying dividends when NAV decreases. However, in the current GLBSE open market, NAV is less meaningful than the real-world stock market, since it's market is very thin and none of the closing price, the 24h price and the 5d price is appropriate for calculating the accurate NAV. Therefore we will stick to our dividend calculation method for at least a while.

For anyone who is concerned about our NAV shrinking, we are now considering loaning shares which are losing value out for shorting and gain extra interests. Hopefully it will neutralize the bear market of mining bonds. We already raised a motion. Please vote.

[Bitcoin Oz]

What is your view on fixed mining bonds compared to those where there is a growth element to the offering?

ie a percent of dividends is held to finance more equipment ?

[friedcat]

What is your view on fixed mining bonds compared to those where there is a growth element to the offering?

ie a percent of dividends is held to finance more equipment ?

Well you could simulate growth bonds/stocks with fixed mining bonds by manually buy new mining bonds with a percent of your dividends. On the other hand, you could simulate fixed mining bonds by selling a little of your growth bonds each week.

The important thing is timing. With growth bonds/stocks, you are basically let the issuer manage some of your dividends. They may also make mistakes like normal investors do. They might miss the discount of hardware, entering ASIC mining too early and bashed by succeeding brand new chips, etc. But what you gain is the save of time and energy to choose and decide where to do the re-investments.

[friedcat]

Update

The motion had been passed.

Voted Yea:3301
Voted Nay:17

The "8301" on the motion-60 board is because of my mis-click with my unsold 5000 shares. 3301 is the correct number of shares which voted yes.

[friedcat]

Weekly Financial Disclosure

Time: 12:08 PM, Beijing time
Date: June 20, 2012

Funds of Last Week: 328.917BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Original: 1569shares 393.819BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.251BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1569+0-0=1569shares 393.819BTC
Net Gain: 0.000BTC
Dividends Paid: 9.771BTC

YABMC
Original: 1105shares 314.925BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.285BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1105+0-0=1105shares 314.925BTC
Net Gain: 0.000BTC
Dividends Paid: 4.914BTC

PIMP
Original: 799shares 184.569BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.231BTC
Sold: 3shares 0.750BTC
Average Selling Price: 0.250BTC
Holding: 799+0-3=796shares 183.876BTC
Net Gain: (0.250-0.231)*3=0.057BTC
Dividends Paid: 3.540BTC

MOVETO.FUND
Original: 150shares 150.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 150+0-0=150shares 150.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

GIGAMINING
Original: 0shares 0.000BTC
Bought in: 220shares 232.200BTC
Average Holding Price: (0.000+232.200)/(0+220)=1.055BTC
Sold: 220shares 253.000BTC
Average Selling Price: 1.150BTC
Holding: 0+220-220=0shares 0.000BTC
Net Gain: 253.000-232.200=20.800BTC
Dividends Paid: 0.312BTC

Holding Funds=
328.917-0.000+0.000+9.771-0.000+0.000+4.914-0.000+0.750+3.540-0.000+0.000+0.000-232.200+253.000+0.312=369.004BTC

Total Net Gain=
0.000+9.771+0.000+4.914+0.057+3.540+0.000+0.000+20.800+0.312=39.394BTC

Calculated Dividends: 39.394*35%=13.788BTC

Usable Funds: 369.004-13.788=355.216BTC

Actual Dividends: 13.788BTC

NAV: 355.216+1569*0.172+1105*0.214+796*0.232+150*1.000=1196.226BTC
Weekly NAV Growth: (1196.226-1359.006)/1359.006=-11.978%

[friedcat]

Update

Please don't be scared by the surface value of the shrinking NAV. The NAV is calculated based on the 5day average price of our holdings. The recent panics caused a lot of price fluctuation of mining bonds and stocks, and the fluctuation is amplified by the thin bids.

And furthermore, we have already passed the motion to let us do brokerage business. We are also considering investing in (issuer side of) virtual mining bonds or ASIC companies to hedge the dropping value of mining assets.

[friedcat]

Weekly Financial Disclosure

Time: 11:41 PM, Beijing time
Date: June 27, 2012

Funds of Last Week: 355.216BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Original: 1569shares 393.819BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.251BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1569+0-0=1569shares 393.819BTC
Net Gain: 0.000BTC
Dividends Paid: 2.196BTC

YABMC
Original: 1105shares 314.925BTC
Bought in: 400shares 76.000BTC
Average Holding Price: (314.925+76.000)/(1105+400)=0.260BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1105+400-0=1505shares 390.925BTC
Net Gain: 0.000BTC
Dividends Paid: 6.231BTC

PIMP
Original: 796shares 183.876BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.231BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 796+0-0=796shares 183.876BTC
Net Gain: 0.000BTC
Dividends Paid: 3.434BTC

MOVETO.FUND
Original: 150shares 150.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 150+0-0=150shares 150.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

GIGAMINING
Original: 0shares 0.000BTC
Bought in: 200shares 180.806BTC
Average Holding Price: (0.000+180.806)/(0+200)=0.904BTC
Sold: 200shares 198.800BTC
Average Selling Price: 0.994BTC
Holding: 0+220-220=0shares 0.000BTC
Net Gain: 198.800-180.806=17.994BTC
Dividends Paid: 5.126BTC

Holding Funds=
355.216-0.000+0.000+2.196-76.000+0.000+6.231-0.000+0.000+3.434-0.000+0.000+0.000-180.806+198.800+5.126=314.197BTC

Total Net Gain=
0.000+2.196+0.000+6.231+0.000+3.434+0.000+0.000+17.994+5.216=35.071BTC

Calculated Dividends: 35.071*35%=12.275BTC

Usable Funds: 314.197-12.275=301.922BTC

Actual Dividends: 12.275BTC

NAV: 301.922+1569*0.203+1505*0.176+796*0.200+150*0.927=1183.559BTC
Weekly NAV Growth: (1183.559-1196.226)/1196.226=-1.059%

[friedcat]

Update

I'm now preparing for a(nother) secret project, which offers a different investment choice. The details will be fully declared soon.

As you might have already found, I am cautious and conservative towards new plans. So I will not make it public until I'm ready to.

What I could assure you, is that if this project succeeds, both μ and MOORE will benefit greatly from it.

[friedcat]

Weekly Financial Disclosure

Time: 10:44 PM, Beijing time
Date: July 4, 2012

Funds of Last Week: 301.922BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Original: 1569shares 393.819BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.251BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1569+0-0=1569shares 393.819BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

YABMC
Original: 1505shares 390.925BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.260BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1505+0-0=1505shares 390.925BTC
Net Gain: 0.000BTC
Dividends Paid: 6.137BTC

PIMP
Original: 796shares 183.876BTC
Bought in: 1500shares 270.000BTC
Average Holding Price: (183.876+270.000)/(796+1500)=0.198BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 796+1500-0=2296shares 453.876BTC
Net Gain: 0.000BTC
Dividends Paid: 9.364BTC

MOVETO.FUND
Original: 150shares 150.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 150+0-0=150shares 150.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

Holding Funds=
301.922-0.000+0.000+0.000-0.000+0.000+6.137-270.000+0.000+9.364-0.000+0.000+0.000=47.423BTC

Total Net Gain=
0.000+0.000+0.000+6.137+0.000+9.364+0.000+0.000=15.501BTC

Calculated Dividends: 15.501*35%=5.425BTC

Usable Funds: 47.423-5.425=41.998BTC

Actual Dividends: 5.425BTC

NAV: 41.998+1569*0.185+1505*0.180+2296*0.190+150*1.010=1190.903
Weekly NAV Growth: (1190.903-1183.559)/1183.559=0.621%

[Bitcoin Oz]

The mining bonds have really taken a dive lately. I like only the shares where you get a piece of the company or underlying asset like cognitive.

[friedcat]

The mining bonds have really taken a dive lately. I like only the shares where you get a piece of the company or underlying asset like cognitive.

Indeed. Graduate switching to "growth" assets from "value" ones is our mid- to long-term picture.

[friedcat]

Weekly Financial Disclosure

Time: 10:07 PM, Beijing time
Date: July 11, 2012

Funds of Last Week: 41.998BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Original: 1569shares 393.819BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.251BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1569+0-0=1569shares 393.819BTC
Net Gain: 0.000BTC
Dividends Paid: 1.607BTC

YABMC
Original: 1505shares 390.925BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.260BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1505+0-0=1505shares 390.925BTC
Net Gain: 0.000BTC
Dividends Paid: 6.062BTC

PIMP
Original: 2296shares 453.876BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.198BTC
Sold: 1077shares 243.531BTC
Average Selling Price: 0.226BTC
Holding: 2296+0-1077=1219shares 241.362BTC
Net Gain: (0.226-0.198)*1077=30.156BTC
Dividends Paid: 7.335BTC

MOVETO.FUND
Original: 150shares 150.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 150+0-0=150shares 150.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

GIGAMINING
Original: 0shares 0.000BTC
Bought in: 220shares 216.750BTC
Average Holding Price: 0.985BTC
Sold: 220shares 247.500BTC
Average Selling Price: 1.125BTC
Holding: 220+0-220=0shares 0.000BTC
Net Gain: 247.500-216.750=30.750BTC
Dividends Paid: 0.000BTC

Holding Funds=
41.998-0.000+0.000+1.607-0.000+0.000+6.062-0.000+243.531+7.335-0.000+0.000+0.000-216.750+247.500+0.000=331.283BTC

Total Net Gain=
0.000+1.607+0.000+6.062+30.156+7.335+0.000+0.000+30.750+0.000=75.910BTC

Calculated Dividends: 75.910*35%=26.569BTC

Usable Funds: 331.283-26.569=304.714BTC

Actual Dividends: 26.569BTC

NAV: 304.714+1569*0.190+1505*0.169+1219*0.225+150*1.068=1291.644BTC
Weekly NAV Growth: (1291.644-1190.903)/1190.903=8.459%

[Bitcoin Oz]

The dividends were much improved this week 

[friedcat]

The dividends were much improved this week 

Thanks. It is the nature of long-only funds -- bull market makes it perform better.

[friedcat]

Weekly Financial Disclosure

Time: 12:28 PM, Beijing time
Date: July 18, 2012

Funds of Last Week: 304.714BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Original: 1569shares 393.819BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.251BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1569+0-0=1569shares 393.819BTC
Net Gain: 0.000BTC
Dividends Paid: 2.185BTC

YABMC
Original: 1505shares 390.925BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.260BTC
Sold: 55shares 9.471BTC
Average Selling Price: 0.172BTC
Holding: 1505+0-55=1450shares 377.000BTC
Net Gain: (0.172-0.260)*55=-4.840BTC
Dividends Paid: 5.829BTC

PIMP
Original: 1219shares 241.362BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.198BTC
Sold: 219shares 51.465BTC
Average Selling Price: 0.235BTC
Holding: 1219+0-219=1000shares 198.000BTC
Net Gain: (0.235-0.198)*219=8.103BTC
Dividends Paid: 4.021BTC

MOVETO.FUND
Original: 150shares 150.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 150+0-0=150shares 150.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

BFLS
Original: 0shares 0.000BTC
Bought in: 80shares 80.000BTC
Average Holding Price: 1.000BTC
Sold: 21shares 23.100BTC
Average Selling Price: 1.100BTC
Holding: 80+0-21=59shares 59.000BTC
Net Gain: (1.100-1.000)*21=2.100BTC
Dividends Paid: 1.439BTC

Cognitive
Original: 0shares 0.000BTC
Bought in: 209shares 131.690BTC
Average Holding Price: 0.630BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 209+0-0=209shares 131.690BTC
Net Gain: 0.000BTC
Dividends Paid: 1.281BTC

Holding Funds=
304.714-0.000+0.000+2.185-0.000+9.471+5.829-0.000+0.000+0.000-80.000+23.100+1.439-131.690+0.000+1.281=136.329BTC

Total Net Gain=
0.000+2.185-4.840+5.829+8.103+4.021+0.000+0.000+2.100+1.439+0.000+1.281=20.118BTC

Calculated Dividends: 20.118*35%=7.041BTC

Usable Funds: 136.329-7.041=129.288BTC

Actual Dividends: 7.041BTC

NAV: 129.288+1569*0.129+1450*0.172+1000*0.244+150*1.055+209*0.774+59*1.099=1151.589BTC
Weekly NAV Growth: (1151.589-1291.644)/1291.644=-10.843%

[friedcat]

Update

The unexpected sudden huge drop in price of JLP-BMD caused the shrink of NAV. But since the dividends of JLP-BMD is still steady paid out although not very timely, and the issuer also considered his upgrade path to ASIC miners, we believe it's way undervalued at this moment.

[friedcat]

Update

Just for entertainment, have you guys noticed that the price chart of MU is a little similar to that of Bitcoin?

[friedcat]

Weekly Financial Disclosure

Time: 10:03 AM, Beijing time
Date: July 25, 2012

Funds of Last Week: 129.288BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Original: 1569shares 393.819BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.251BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1569+0-0=1569shares 393.819BTC
Net Gain: 0.000BTC
Dividends Paid: 1.440BTC

YABMC
Original: 1450shares 377.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.260BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1450+0-0=1450shares 377.000BTC
Net Gain: 0.000BTC
Dividends Paid: 5.476BTC

PIMP
Original: 1000shares 198.000BTC
Bought in: 382shares 57.782BTC
Average Holding Price: (198.000+57.782)/(1000+382)=0.185BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1000+382-0=1382shares 255.782BTC
Net Gain: 0.000BTC
Dividends Paid: 5.318BTC

MOVETO.FUND
Original: 150shares 150.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 150+0-0=150shares 150.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

BFLS
Original: 59shares 59.000BTC
Bought in: 30shares 30.000BTC
Average Holding Price: (59.000+30.000)/(59+30)=1.000BTC
Sold: 5shares 5.500BTC
Average Selling Price: 1.100BTC
Holding: 59+30-5=84shares 84.000BTC
Net Gain: (1.100-1.000)*5=0.500BTC
Dividends Paid: 1.458BTC

Cognitive
Original: 209shares 131.690BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.630BTC
Sold: 6shares 4.740BTC
Average Selling Price: 0.790BTC
Holding: 209+0-6=203shares 127.890BTC
Net Gain: (0.790-0.630)*6=0.960BTC
Dividends Paid: 0.503BTC

Holding Funds=
129.288-0.000+0.000+1.440-0.000+0.000+5.476-57.782+0.000+5.318-0.000+0.000+0.000-
30.000+5.500+1.458-0.000+4.740+0.503=65.691BTC

Total Net Gain=
0.000+1.440+0.000+5.476+0.000+5.318+0.000+0.000+0.500+1.458+0.960+0.503=15.655BTC

Calculated Dividends: 15.655*35%=5.479BTC

Usable Funds: 65.691-5.479=60.212BTC

Actual Dividends: 5.479BTC

NAV: 65.691+1569*0.159+1450*0.162+1382*0.215+150*1.116+203*0.789+54*1.09=1233.619BTC
Weekly NAV Growth: (1233.619-1151.589)/1151.589=7.123%

[bitcoinbear]

Looks nice. I like how transparent your operations are. I bought a couple shares.

[friedcat]

Looks nice. I like how transparent your operations are. I bought a couple shares.

Thanks.

We keep transparency as our first priority. At this moment the only issue is our unconventional calculation method of net gains. We hope we could use a more traditional NAV-based calculation when NAV makes more sense on GLBSE (less spreads, less price swings).

[friedcat]

Weekly Financial Disclosure

Time: 10:38 AM, Beijing time
Date: August 1, 2012

Funds of Last Week: 60.212BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Original: 1569shares 393.819BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.251BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1569+0-0=1569shares 393.819BTC
Net Gain: 0.000BTC
Dividends Paid: 1.490BTC

YABMC
Original: 1450shares 377.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.260BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1450+0-0=1450shares 377.000BTC
Net Gain: 0.000BTC
Dividends Paid: 5.401BTC

PIMP
Original: 1000shares 198.000BTC
Bought in: 382shares 57.782BTC
Average Holding Price: (198.000+57.782)/(1000+382)=0.185BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 1000+382-0=1382shares 255.782BTC
Net Gain: 0.000BTC
Dividends Paid: 5.223BTC

MOVETO.FUND
Original: 150shares 150.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 150+0-0=150shares 150.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

BFLS
Original: 84shares 84.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 4shares 4.400BTC
Average Selling Price: 1.100BTC
Holding: 84+0-4=80shares 80.000BTC
Net Gain: (1.100-1.000)*4=0.400BTC
Dividends Paid: 1.526BTC

Cognitive
Original: 203shares 127.890BTCBTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.630BTC
Sold: 15shares 11.850BTC
Average Selling Price: 0.790BTC
Holding: 203+0-15=188shares 118.440BTC
Net Gain: (0.790-0.630)*15=2.400BTC
Dividends Paid: 0.459BTC

BDT
Original: 0shares 0.000BTCBTC
Bought in: 87shares 87.000BTC
Average Holding Price: 1.000BTC
Sold: 0share 0.000BTC
Average Selling Price: N/A
Holding: 0+87-0=87shares 87.000BTC
Net Gain: 0.000BTC
Dividends Paid: 2.610BTC

Holding Funds=
60.212-0.000+0.000+1.490-0.000+0.000+5.401-0.000+0.000+5.223-0.000+0.000+0.000-0.000+4.400+1.526-
0.000+11.850+0.459-87.000+0.000+2.610=6.171BTC

Total Net Gain=
0.000+1.490+0.000+5.401+0.000+5.223+0.000+0.000+0.400+1.526+2.400+0.459+0.000+2.610=19.509BTC

Calculated Dividends: 19.509*35%=6.828BTC

Usable Funds: 6.171-6.828=-0.657BTC

Actual Dividends: 6.828BTC

NAV: -0.657+1569*0.129+1450*0.146+1382*0.195+150*1.138+188*0.769+50*0.650+87*1.000=1117.706BTC
Weekly NAV Growth: (1117.706-1233.619)/1117.706=-10.37%

[friedcat]

Update

As you could see, the usable funds is temporarily negative. That's because we made our positions heavier therefore the left funds were not enough for the payment of dividends. Currently I covered the difference. You could see this as MU got an interest-free loan of 0.657BTC for a week from myself. Thanks.

[friedcat]

Weekly Financial Disclosure

Time: 10:20 AM, Beijing time
Date: August 8, 2012

Funds of Last Week: -0.657BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Holding: 1569shares 186.711BTC
Dividends Paid: 1.539BTC

YABMC
Holding: 1450shares 179.800BTC
Dividends Paid: 5.012BTC

PIMP
Holding: 1382shares 203.154BTC
Dividends Paid: 4.908BTC

MOVETO.FUND
Holding: 150shares 163.350BTC
Dividends Paid: 0.000BTC

BFLS
Holding: 74shares 81.400BTC
Dividends Paid: 1.408BTC

Cognitive
Holding: 184shares 137.816BTC
Dividends Paid: 0.505BTC

BDT
Holding: 87shares 91.350BTC
Dividends Paid: 2.610BTC

BTC
Holding: 34.455shares 34.455BTC
Holding After Dividends: 18.473BTC

Calculated Dividends: 1.539+5.012+4.908+0.000+1.408+0.505+2.610=15.982BTC
NAV: 186.711+179.800+203.154+163.350+81.400+137.816+91.350+34.455-15.982=1062.054BTC
Weekly NAV Growth: (1062.054-1117.706)/1117.706=-3.97%

[friedcat]

Update

It might be already noticed that we took a very unconventional way of calculating net gains from the start. After much consideration, we decided to use a more traditional approach.

Before: dividends = 35% of net gains (calculated against the average buying price)
           NAV = market value of total assets + total BTC funds - dividends

After:   dividends = 100% of dividends from total assets
           NAV = market value of total assets + total BTC funds - dividends

By this method:
  Investors could have more steady weekly payments.
  Fund manager could feel more comfortable to do larger bulk of buying and selling without triggering too much investors' concerns.

A motion is raised for the shareholders to approve or disapprove this change of dividend structure. If disapproved, we will return to our original calculation from the next week.

[bitcoinbear]

Update

It might be already noticed that we took a very unconventional way of calculating net gains from the start. After much consideration, we decided to use a more traditional approach.

Before: dividends = 35% of net gains (calculated against the average buying price)
           NAV = market value of total assets + total BTC funds - dividends

After:   dividends = 100% of dividends from total assets
           NAV = market value of total assets + total BTC funds - dividends

By this method:
  Investors could have more steady weekly payments.
  Fund manager could feel more comfortable to do larger bulk of buying and selling without triggering too much investors' concerns.

So the dividends received will all be passed through as dividends paid, and the changes in value of the holdings will only contribute to growth?

[friedcat]

So the dividends received will all be passed through as dividends paid, and the changes in value of the holdings will only contribute to growth?

Yes. Hopefully this will have a steadier payment, and therefore a simpler valuation model for investors and traders of MU.

[friedcat]

Update

The motion has been passed.

Voted Yea:3515
Voted Nay:0

So from this week, the new dividend structure will be taken.

[friedcat]

Weekly Financial Disclosure

Time: 11:21 AM, Beijing time
Date: August 15, 2012

Funds of Last Week: 18.473BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Holding: 1569shares 140.896BTC
Dividends Paid: 1.420BTC

YABMC
Holding: 1450shares 176.610BTC
Dividends Paid: 4.877BTC

PIMP
Holding: 1382shares 228.030BTC
Dividends Paid: 4.784BTC

MOVETO.FUND
Holding: 109shares 125.132BTC
Dividends Paid: 0.000BTC

BFLS
Holding: 50shares 100.000BTC
Dividends Paid: 0.926BTC

Cognitive
Holding: 184shares 125.102BTC
Dividends Paid: 0.352BTC

BDT
Holding: 91shares 98.271BTC
Dividends Paid: 2.610BTC

BTC
Holding: 101.374shares 101.374BTC
Holding After Dividends: 86.405BTC

Calculated Dividends: 1.420+4.877+4.784+0.000+0.926+0.352+2.610=14.969BTC
NAV: 140.896+176.610+228.030+125.132+100.000+125.102+98.271+101.374-14.969=1080.446BTC
Weekly NAV Growth: (1080.446-1062.054)/1062.054=1.73%

[friedcat]

Weekly Financial Disclosure

Time: 11:27 AM, Beijing time
Date: August 22, 2012

Funds of Last Week: 86.405BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Holding: 1569shares 155.311BTC
Dividends Paid: 0.000BTC

YABMC
Holding: 1000shares 132.000BTC
Dividends Paid: 3.819BTC

PIMP
Holding: 1382shares 221.120BTC
Dividends Paid: 4.493BTC

MOVETO.FUND
Holding: 109shares 125.350BTC
Dividends Paid: 0.000BTC

BFLS
Holding: 50shares 50.000BTC
Dividends Paid: 0.688BTC

Cognitive
Holding: 179shares 123.510BTC
Dividends Paid: 0.359BTC

BDT
Holding: 0shares 0.000BTC
Dividends Paid: 1.824BTC

BTC
Holding: 247.054shares 247.054BTC
Holding After Dividends: 235.871BTC

Calculated Dividends: 0.000+3.819+4.493+0.000+0.688+0.359+1.824=11.183BTC
NAV: 155.311+132.000+221.120+125.350+50.000+123.510+0.000+247.054-11.183=1043.162BTC
Weekly NAV Growth: (1043.162-1080.446)/1080.446=-3.45%

[friedcat]

Update

We are gradually reducing the position on several certain assets and switching to new ones. So please expect a little lower NAV and dividends in this week as well as the following next few weeks.

[bitcoinbear]

I see the price per share just took a nose dive. Did the held assets value really just drop 20%, or is that just due to such low liquidity on the GLBSE?

[Factory]

NAV: 155.311+132.000+221.120+125.350+50.000+123.510+0.000+247.054-11.183=1043.162BTC

• Total NAV of 1043.162
• 5,000 shares outstanding (according to: https://glbse.com/api/quantity_trading/MU)

1043.162 divided by 5,000 = 0.2086324 NAV per share.

MU is currently trading @ .39. This implies a 86.9% premium to the underlying assets.

Is this accurate friedcat?

[friedcat]

Weekly Financial Disclosure

Time: 09:49 AM, Beijing time
Date: August 29, 2012

Funds of Last Week: 86.405BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Holding: 1569shares 156.884BTC
Dividends Paid: 2.532BTC

YABMC
Holding: 1000shares 127.000BTC
Dividends Paid: 3.052BTC

PIMP
Holding: 2030shares 345.100BTC
Dividends Paid: 6.112BTC

MOVETO.FUND
Holding: 109shares 130.473BTC
Dividends Paid: 0.000BTC

BFLS
Holding: 50shares 57.450BTC
Dividends Paid: 0.643BTC

Cognitive
Holding: 179shares 118.104BTC
Dividends Paid: 0.601BTC

BTC
Holding: 147.322shares 147.322BTC
Holding After Dividends: 134.382BTC

Calculated Dividends: 2.532+3.052+6.112+0.000+0.643+0.601=12.940BTC
NAV: 156.884+127.000+310.590+130.473+57.450+118.104+147.322-12.940=1069.393BTC
Weekly NAV Growth: (1069.393-1043.162)/1043.162=2.51%

[friedcat]

Update

Tomorrow I will only have the internet access in the evening (Beijing time), so please expect about a 6-10 hours delay of dividend payment. Thanks.

[friedcat]

Weekly Financial Disclosure

Time: 09:04 PM, Beijing time
Date: September 5, 2012

Funds of Last Week: 134.382BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Holding: 1569shares 156.727BTC
Dividends Paid: 1.092BTC

YABMC
Holding: 1000shares 107.200BTC
Dividends Paid: 2.884BTC

PIMP
Holding: 2030shares 302.470BTC
Dividends Paid: 5.856BTC

MOVETO.FUND
Holding: 109shares 129.383BTC
Dividends Paid: 0.000BTC

BFLS
Holding: 50shares 39.550BTC
Dividends Paid: 0.591BTC

Cognitive
Holding: 179shares 113.674BTC
Dividends Paid: 0.673BTC

BTC
Holding: 148.616shares 148.616BTC
Holding After Dividends: 137.520BTC

Calculated Dividends: 1.092+2.884+5.856+0.000+0.591+0.673=11.096BTC
NAV: 156.727+107.200+302.740+129.383+39.550+113.674+148.616-11.096=986.794BTC
Weekly NAV Growth: (986.794-1069.393)/1069.393=-9.99%

[friedcat]

Weekly Financial Disclosure

Time: 11:53 AM, Beijing time
Date: September 12, 2012

Funds of Last Week: 137.520BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Holding: 1569shares 149.023BTC
Dividends Paid: 1.096BTC

YABMC
Holding: 1000shares 109.500BTC
Dividends Paid: 2.700BTC

PIMP
Holding: 2030shares 267.960BTC
Dividends Paid: 5.699BTC

MOVETO.FUND
Holding: 109shares 117.581BTC
Dividends Paid: 0.000BTC

BFLS
Holding: 50shares 35.000BTC
Dividends Paid: 0.587BTC

Cognitive
Holding: 179shares 113.468BTC
Dividends Paid: 0.724BTC

BTC
Holding: 152.335shares 152.335BTC
Holding After Dividends: 141.529BTC

Calculated Dividends: 1.096+2.700+5.699+0.000+0.587+0.724=10.806BTC
NAV: 149.023+109.500+267.960+117.581+35.000+113.468+152.335-10.806=934.061BTC
Weekly NAV Growth: (934.061-986.794)/986.794=-5.34%

[bitcoinbear]

Weekly NAV Growth: (986.794-1069.393)/1069.393=-9.99%

Weekly NAV Growth: (934.061-986.794)/986.794=-5.34%

That is two disappointing weeks in a row. Are you actively trading shares? I see some decent opportunities here and there for market making. What is your plan to have better performance in the future?

[friedcat]

Weekly NAV Growth: (986.794-1069.393)/1069.393=-9.99%

Weekly NAV Growth: (934.061-986.794)/986.794=-5.34%

That is two disappointing weeks in a row. Are you actively trading shares? I see some decent opportunities here and there for market making. What is your plan to have better performance in the future?

Thanks for your question. Yes they are. Sorry for making it a de-facto static mining assets pass-through during the last few weeks. The trading started to become less frequent after the ASICMINER project temporarily took my focus of watching closely to the market. It will resume since the design & bargaining phase is finally ending.

About the future:
1. Almost all our holding assets (except one) have ASIC upgrade paths. Therefore the possibility of retain and bounce of the price is significant. My only concern is some operator became less responsive. It seems that more aggressive use of shareholder rights is needed.
2. MU will probably invest in ASICMINER when the time and the price is right.
3. Other business model than mining will be considered more.
4. Active arbitraging and market making will be done more frequently than before.

[friedcat]

Weekly Financial Disclosure

Time: 11:40 AM, Beijing time
Date: September 19, 2012

Funds of Last Week: 141.529BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Holding: 1569shares 148.819BTC
Dividends Paid: 1.092BTC

YABMC
Holding: 909shares 82.719BTC
Dividends Paid: 2.609BTC

PIMP
Holding: 2120shares 271.360BTC
Dividends Paid: 5.567BTC

MOVETO.FUND
Holding: 109shares 118.348BTC
Dividends Paid: 0.000BTC

BFLS
Holding: 40shares 28.600BTC
Dividends Paid: 0.439BTC

Cognitive
Holding: 179shares 109.190BTC
Dividends Paid: 0.619BTC

ASICMINER
Holding: 75shares 8.700BTC
Dividends Paid: 0.000BTC

BTC
Holding: 180.582shares 180.582BTC
Holding After Dividends: 170.256BTC

Calculated Dividends: 1.092+2.609+5.567+0.000+0.439+0.619+0.000=10.326BTC
NAV: 148.819+82.719+271.360+118.348+28.600+109.190+8.700+180.582-10.326=937.992BTC
Weekly NAV Growth: (937.992-934.061)/934.061=0.42%

[friedcat]

Weekly Financial Disclosure

Time: 12:43 AM, Beijing time
Date: September 26, 2012

Funds of Last Week: 170.256BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Holding: 1569shares 148.819BTC
Dividends Paid: 1.355BTC

YABMC
Holding: 909shares 63.630BTC
Dividends Paid: 2.263BTC

PIMP
Holding: 2120shares 190.800BTC
Dividends Paid: 5.400BTC

MOVETO.FUND
Holding: 90shares 90.000BTC
Dividends Paid: 0.000BTC

BFLS
Holding: 40shares 24.000BTC
Dividends Paid: 0.367BTC

Cognitive
Holding: 179shares 82.340BTC
Dividends Paid: 0.578BTC

ASICMINER
Holding: 811shares 94.887BTC
Dividends Paid: 0.000BTC

BTC
Holding: 120.432shares 120.432BTC
Holding After Dividends: 110.469BTC

Calculated Dividends: 1.355+2.263+5.400+0.000+0.367+0.578+0.000=9.963BTC
NAV: 148.819+63.630+190.800+90.000+24.000+82.340+94.887+120.432-9.963=804.945BTC
Weekly NAV Growth: (804.945-937.992)/937.992=-14.18%

[friedcat]

Update

This week we suffered from another serious dip. It's caused by the general bearish-ness of the mining market.

We have been chosen to still bet on mining assets because it's already proven by history to be safer than other obscure business models, and a little less prone to the rise of BTC/USD (hashrate grows at a more elastic manner with respect to BTC price).

Here is our plan in the next several months.

1. Keeping betting a lot on mining, and continue liquidating assets with no ASIC upgrade promises.
2. Trying to use financial tools to hedge the exchange rates.
3. Doing arbitrage with proved safe (safer than others) assets.

It's a hard time for us, and for many investors on most assets in GLBSE, especially when you nominate your investment with BTC. But we will insist on our strategy and will not invest in any seemingly "fixed-income" assets.

[HorseRider]

welcome to sell the MU asset to the market now. Would you all wait a moment, because I lost my 2fa and have to find it back from Nefario before I can buy. I think WIT is pretty good investment lol

[friedcat]

Weekly Financial Disclosure

Time: 13:27 PM, Beijing time
Date: October 3, 2012

Funds of Last Week: 110.469BTC
Number of Total Shares in Circulation: 5000

Assets:

JLP-BMD
Holding: 1569shares 141.210BTC
Dividends Paid: 1.313BTC

YABMC
Holding: 539shares 42.527BTC
Dividends Paid: 1.715BTC

PIMP
Holding: 2120shares 190.800BTC
Dividends Paid: 5.211BTC

NASTY
Holding: 37shares 17.938BTC
Dividends Paid: 0.000BTC

BFLS
Holding: 40shares 28.000BTC
Dividends Paid: 0.411BTC

Cognitive
Holding: 256shares 140.800BTC
Dividends Paid: 0.553BTC

ASICMINER
Holding: 811shares 89.210BTC
Dividends Paid: 0.000BTC

BTC
Holding: 169.228shares 169.228BTC
Holding After Dividends: 160.025BTC

Calculated Dividends: 1.313+1.715+5.211+0.000+0.411+0.553+0.000=9.203BTC
NAV: 140.210+42.527+190.800+17.938+28.000+140.800+89.210+169.228-9.203=809.510BTC
Weekly NAV Growth: (809.510-804.945)/804.945=0.57%

[friedcat]

Update

Due to the GLBSE closing, we are unable to give the dividends and financial reports this week.

They will be resumed as soon as GLBSE gives us the shareholders' information and we restart
receiving payments from the issuers of the assets we hold.

[bitcoinbear]

Will you continue MU without the glbse, or will you just wind it down?

[BurtW]

Will you continue MU without the glbse, or will you just wind it down?

It will be pretty hard to come up with a NAV with no active market in the assets...

[memvola]

Will you continue MU without the glbse, or will you just wind it down?

It will be pretty hard to come up with a NAV with no active market in the assets...

A bit hard, a bit inaccurate, but probably doable. Updates could be extended to monthly to reduce management costs. Probably can be listed in some exchange with a good exit strategy to help with motions, etc.

[friedcat]

Update

In case of the possibility we could not receive the shareholders data, we begin collecting the claims ourselves.

Please send to (fnnirvana@gmail.com) your number of shares and your Bitcoin address for receiving dividends. Please annotate that they are MU shares to avoid confusion with ASICMINER or MOORE shares. You could accompany them with any evidence you think is OK to provide. It is highly recommended that you use an address that you have its private key. By that, you may enjoy more facilities provided by our future automatic migrating platform.

Will you continue MU without the glbse, or will you just wind it down?

We will continue MU without GLBSE.

[friedcat]

Update

Because we are yet to receive all the necessary data and so are the issuers whose assets are hold by MU, we are still at a suspension state.

[friedcat]

Update

This is to remind to MU shareholders. Please send to (fnnirvana@gmail.com) your e-mail, your number of shares, and your Bitcoin address to receive future dividend payments.

[friedcat]

Update

This is to remind to MU shareholders. Please send to (fnnirvana@gmail.com) your e-mail, your number of shares, and your Bitcoin address to receive future dividend payments.

This is to remind again.

[friedcat]

Update

To any shareholders who haven't made claims yet, please report your shares to
(fnnirvana@gmail.com) with your e-mail address, your number of shares, and your
Bitcoin address.

The collection of claims could not last forever. We would in principle stop collecting
claims on forum time 23:59:59, Nov. 18th. Any claims after that should come with
very solid proof.

If you have friends or known people who don't visit this forum often, please do us
a favor to tell notify them.

And please keep in mind that this is only a backup plan on the event that GLBSE fails
to give any data.

MU will stay in some, if not all of its assets' value, since we have made contacts to and
are watching the issuers of our held assets. So please do the claim.

[friedcat]

Update

To any shareholders who haven't made claims yet, please report your shares to
(fnnirvana@gmail.com) with your e-mail address, your number of shares, and your
Bitcoin address.

The collection of claims could not last forever. We would in principle stop collecting
claims on forum time 23:59:59, Nov. 18th. Any claims after that should come with
very solid proof.

If you have friends or known people who don't visit this forum often, please do us
a favor to tell notify them.

And please keep in mind that this is only a backup plan on the event that GLBSE fails
to give any data.

MU will stay in some, if not all of its assets' value, since we have made contacts to and
are watching the issuers of our held assets. So please do the claim.

This is a remind that the normal claim process will expire on forum time 23:59:59, Nov. 18th.

[friedcat]

Update

Sorry for a long period before last update but the ASICMINER project has taken most of the time and energy. The weekly payment of dividends will resume in 16th, Jan. 2013 in forum time, all confirmations will be before it.

Part luck, part conservative stock-picking, all our holding assets survived the GLBSE mess. They now live on different platforms and we gained back the control of our corresponding shares during the last two months.

MU will stay as my personal contract to shareholders. There will be neither termination nor expansion in the foreseeable future. As ASICMINER will continue to eat my focus, sorry but please expect a gradual buy-back and a semi-fixed portfolio.

[lagmo]

Optionally a stock swap for ASICMINER shares instead of a buy-back might be an interesting possibility for some 

[elmom]

Any update? I might be interested in a buy-back.

[johnjay3000]

Any update? I might be interested in a buy-back.

Seconded

[friedcat]

The portfolio stays fixed and is under no active management yet. We have been always passing the dividends from our holding assets directly to our shareholders after last update.

Buy-back is of course an option. I personally have almost no time actively managing it so either buying back or keep it as a pass-through of a fixed set of assets are the most possible outcomes. The price and the buy-back clauses would be set-up within the next two months if there are no better way to make MU more interesting.

[johnjay3000]

Is there any way to find out the current value of our holdings, or any chance of a stock swap for other shares?

[johnjay3000]

Any plans for a buy back?

[fonzo]

Hi Friedcat,
Could you offer a rough timeline, maybe an update on how funds are currently invested?

[DeaDTerra]

Is there any development here?
If there's no payout/solution I would like for FriedCat to buy back the shares if possible.
//DeaDTerra

[S3052]

Is there any development here?
If there's no payout/solution I would like for FriedCat to buy back the shares if possible.
//DeaDTerra

agree
what's the status?

[fonzo]

Has anybody heard anything? 2 years without update on Mu, friedcat hasn't posted since January 25. 
Friedcat if you see this, I hope we get some points for patience.

[Chef Ramsay]

It should be obvious by now that this whole ordeal is long over with, friedcrotch is long gone. I only wish he meets the fate of the latest exchange bandit from Czech land did. He needs to be in an environment of corrections and isolated for 23 hrs a day for a few decades if he can't find a way to pay restitution and then some to his victims.

[ensurance982]

Has anybody heard anything? 2 years without update on Mu, friedcat hasn't posted since January 25. 
Friedcat if you see this, I hope we get some points for patience.

Well, in case you didn't hear about the things going on over at ASICMiner: Friedcat disappeared for unknown reasons. Mining gear of ASICMiner was allegedly impounded by the police (stealing electricity!?) and he is allegedly on the run or said "screw this, I'm off to Thailand"...

[Blazed]

I thought he was held by Mongolian pirates in that sausage factory still 

[ensurance982]

I thought he was held by Mongolian pirates in that sausage factory still 

I mean that thought is all 'funny' and everything, but to clear things up for people not familiar with the matter: There was a mining farm next to a food processing plant, located in China - not Mongolia. And there are no pirates, but the gear was impounded by the police because the operator there (of the mining farm) was allegedly stealing electricity. Friedact then ran away, after gen 4 couldn't be funded anymore.