First things first, I'm not selling any more JLTRADINGCOIN's until I can get the hang of things. Proceeds grew to just over 1 BTC pretty fast and I would like a couple days to figure this whole process out and get a rhythm on it before it gets ahead of me.
Well again, it shows two good things in my book, one having responsibility and the other a systematic procedure attempt. Again, both I like.
Second, as far as a true donation "fee" for me goes, I'll stick with a flat 5% of profits when I pay them out bi-weekly (every other week). I will also have a high-water mark like I mentioned whereby I'm not taking a "fee" unless we're making higher-highs and sending out profits. So I don't get any true benefit here unless the thing performs. I think it makes sense to post trades after-the-fact versus during just because I don't want to give any 'nefarious' folks a chance to dump on the JLTRADINGCOIN longs on purpose.
Sounds reasonable, agreed.
Lastly, I think since a couple of you are 'large fishes' so far in the JLTRADINGCOIN, instead of maintaining a twice-weekly window for withdrawals it'll be easiest at first to just PM me that you want to do a withdrawal and what amount.
You mean that we have to request the retrieval of the profit from the dividends of the successful trades or it is in case we want to sell our shares (the JLcoins themselves)?
Eventually it'd be cool to just let the ClearingHouse market exchange takeover for doing that (ie if you wanted to sell JLTRADINGCOIN you'd post a sell and wait for someone else to fulfill your sell. It would likely be at a discount to NAV).
I might be wrong, but I don't think anyone is even thinking about selling, we haven't even started lol.
Well this is how it should be IMO.
And with regards to withdrawals, the JLTRADINGCOIN will need to be priced at a NAV (Net Asset Value) that makes sense; so if profits go up and there are more assets for the same amount of JLTRADINGCOIN in the market, your JLTRADINGCOIN's are worth more than the 1 JL to 1 VIA exchange and if there are losses, your 1 JL would be worth less than 1 VIA.
Correct, but when will you start doing the correction in price, after [insert number here] successful trade operations closed? or what kind of formula would you apply to change the price, if you are meaning the JLCs that you still have on stock?
It would be cool to post a daily NAV of what exactly 1 JLTRADINGCOIN is worth in VIA. For now though it's pretty early to do that. Currently, though, since I liquidated the VIA earlier today and again a couple hours ago at higher VIA/BTC prices than where VIA/BTC is at now, there is a small gain of 2% (NAV is 1.02) and it's completely due to exchange rate benefit because I haven't taken on any position (yet) with the exchanged BTC.
Anyhow, I don't know about you guys but this is pretty freaking interesting so far. And it's only day one...
Watch VIA volatility. Drives me crazy, got to re-position so many times in this last 48h. Highly manipulated and hard to TA IMO.
And I just sent over the last 200 VIA buy-in, so that's 2,440 VIA withdrawn today and 2,414.887 JLTRADINGCOIN's purchased (I think 20 or so of my own personal VIA was withdrawn somewhere in there. Oops, oh well, no biggie).
Should be easy to check!
- Regarding my particular case, I am still waiting to see how this all mature, if i feel comfortable with the system you develop for sharing the dividends, I would invest another equal quantity or so in short term, who knows middle/long.
Oh and mastercoin didn't even enter in the club... I expect him to purchase way more than I am doing hehe.
Eth.
