brendio
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May 23, 2012, 04:52:32 AM |
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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 timesVery impressive. Investors evidently have a high opinion of your investing abilities!
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friedcat (OP)
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May 23, 2012, 05:20:26 AM |
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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 timesVery 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.
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brendio
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May 23, 2012, 05:34:49 AM |
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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 timesVery 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.
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friedcat (OP)
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May 23, 2012, 05:49:12 AM |
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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.
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JWU42
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May 23, 2012, 10:21:16 AM |
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Thanks for the dividend! Wish it was higher YABMC coupon this week (tomorrow) will help for next week!
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friedcat (OP)
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May 23, 2012, 12:25:46 PM |
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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.
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matthewh3
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May 23, 2012, 03:15:45 PM |
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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.
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friedcat (OP)
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May 24, 2012, 02:44:55 AM |
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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.
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brendio
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May 24, 2012, 03:25:01 AM |
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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.
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friedcat (OP)
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May 24, 2012, 04:27:41 AM |
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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).
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friedcat (OP)
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May 25, 2012, 06:33:56 AM |
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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$
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friedcat (OP)
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May 25, 2012, 06:37:55 AM |
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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.
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friedcat (OP)
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May 30, 2012, 06:01:26 AM Last edit: June 20, 2012, 05:25:44 AM by friedcat |
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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%
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Bitcoin Oz
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May 30, 2012, 07:02:36 AM |
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I like what you are doing with this fund and enjoy your updates
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friedcat (OP)
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May 30, 2012, 07:32:27 AM Last edit: May 30, 2012, 08:06:13 AM by friedcat |
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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.
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JWU42
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May 30, 2012, 10:48:06 AM |
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Nice improvement on the dividend this week - up over 40% from last week.
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friedcat (OP)
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May 30, 2012, 11:02:43 AM |
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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.
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Bitcoin Oz
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May 31, 2012, 01:34:51 PM |
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I picked up a small amount of shares
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friedcat (OP)
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June 02, 2012, 07:18:56 AM |
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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.
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friedcat (OP)
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June 06, 2012, 05:30:42 AM Last edit: June 20, 2012, 05:25:58 AM by friedcat |
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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%
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