friedcat (OP)
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June 06, 2012, 05:44:20 AM |
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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.
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JWU42
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June 06, 2012, 10:30:16 AM |
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Thanks for the dividend. Agreed the market has turned bearish on mining bonds
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Bitcoin Oz
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June 06, 2012, 01:22:30 PM |
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Thanks for the dividend. Agreed the market has turned bearish on mining bonds Think thats because the block reward halving is coming ?
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redbeans2012
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June 06, 2012, 01:57:13 PM |
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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.
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BurtW
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All paid signature campaigns should be banned.
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June 06, 2012, 01:59:38 PM |
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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
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Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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Bitcoin Oz
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June 06, 2012, 02:05:08 PM |
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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.
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friedcat (OP)
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June 12, 2012, 02:24:18 PM |
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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.
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BurtW
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All paid signature campaigns should be banned.
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June 12, 2012, 03:35:04 PM |
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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.
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Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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Bitcoin Oz
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June 13, 2012, 12:49:37 AM |
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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!
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friedcat (OP)
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June 13, 2012, 04:51:55 AM Last edit: June 20, 2012, 05:26:17 AM by friedcat |
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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%
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friedcat (OP)
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June 13, 2012, 04:58:06 AM Last edit: June 13, 2012, 06:57:37 AM by friedcat |
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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.
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Bitcoin Oz
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June 13, 2012, 09:36:15 AM |
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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 ?
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friedcat (OP)
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June 13, 2012, 11:02:20 AM |
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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.
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friedcat (OP)
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June 17, 2012, 10:44:46 AM |
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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.
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friedcat (OP)
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June 20, 2012, 04:24:33 AM Last edit: June 20, 2012, 05:25:27 AM by friedcat |
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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%
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friedcat (OP)
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June 20, 2012, 04:38:12 AM Last edit: June 22, 2012, 03:51:19 AM by friedcat |
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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.
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friedcat (OP)
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June 27, 2012, 04:27:07 AM |
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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%
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friedcat (OP)
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June 27, 2012, 12:15:38 PM |
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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.
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friedcat (OP)
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July 04, 2012, 03:01:54 AM |
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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%
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Bitcoin Oz
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July 04, 2012, 03:25:46 AM |
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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.
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