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Author Topic: [GLBSE] Bitcoin Mining Fund (see post #2 for FAQ)  (Read 7176 times)
MoneyIsDebt
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June 02, 2012, 03:17:42 PM
 #21

I like the daily dividends move. It's easier to gain confidence in a bond when you see regular dividend payouts, and that takes a while with weekly payouts.

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June 03, 2012, 10:06:58 PM
 #22

Hello, I'd like to make a quick announcement.

The news page (post #2) has been updated as follows:

2012-06-02: We are holding a special promotional event. For the month of June only, we will pay out dividends approximately once every 24 hours, to promote the fund.

The first such payment will go out in approximately 10 hours from the timestamp on this post. After June, dividends will return to their normal frequency. It's dividend madness! Compound like the wind, my brothers!

Almost like mining ;) this is going to be great :)
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June 04, 2012, 10:06:49 AM
 #23

In other news, someone is selling out their holding of BMF. It's not me and I don't know who it is but I have my guess.

If you mean me, I never bought your bonds  Cool
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June 06, 2012, 07:35:46 AM
 #24

2012-06-02: We are holding a special promotional event. For the month of June only, we will pay out dividends approximately once every 24 hours, to promote the fund.
At what GLBSETime are the dividends paid?

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June 06, 2012, 08:05:45 AM
 #25

I don't know if GLBSE supports this, but you may consider  1/10 share split. 1 BTC per share is too high. I believe you could sell more and have bigger trade volumes at lower price. You investors would benefit out of this as well. When they decide to sell their shares they will find more bidders.
 BTW, do you plan to sell only those 10000 shares or you may issue more anytime you want to?

1 BTC is only $5. Apple is over $500 a share right now, so is Google. Microsoft, Adobe and Oracle all have share prices north of $25. While a high share price is indeed a deterrent if you only have a small amount of money to invest, it also suggests that the company has increased in value and is a worthwhile place to put your money.

I am not interested in issuing more shares yet. Once we're fully issued, a share offering would only make sense if we can place a large order at a discount to market price, so as to immediately increase our NAV. Such an issue would be announced ahead of time.

No, an arbitrary IPO price-per-share, as a means of suggestion, is meaningless to anybody who is deep enough into bitcoins to be buying and selling on GLBSE. This is the one reason you list to support your decision, and it just doesn't make a lot of sense to me. Nobody here is going to be "fooled" that the company has increased in value (I'm not even sure what you mean by this in regards to BMF) whether you chose 1 btc or 100 btc to be the price-per-share. This fund sounds really cool, and I think it is a great idea. I have been considering investing, but this answer was kind of a turn off for me frankly. I completely agree with GeoRW.
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June 06, 2012, 08:25:01 AM
 #26

Apple IPO: 22$, split three times since

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June 13, 2012, 02:20:06 PM
 #27

Only noticed this motion by chance on GLBSE. Would be nice it there was a notification (icon on site and via  email). Otherwise I would have never known.

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MoneyIsDebt
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June 13, 2012, 07:06:22 PM
 #28

I can't see the motion on GLBSE. Not by clicking motions in the menu, or clicking "Old motions" on the BMF page?

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June 14, 2012, 03:28:11 AM
 #29

Turns out that in some browsers, the motion was hidden beneath the menubar.
I was able to vote now. (I think - clicking again lets me vote again.... hmmm)

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June 14, 2012, 03:54:37 AM
 #30

Turns out that in some browsers, the motion was hidden beneath the menubar.
I was able to vote now. (I think - clicking again lets me vote again.... hmmm)

That's just GLBSE's lack of voting confirmation...

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Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
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June 16, 2012, 05:20:19 PM
 #31

I have a question: Seeing that the BMF description mentions to only invest in miners and your opinion of bonds as you stated in the NastyMining thread... I was looking at the BMF holdings: Seems to me there are a lot of bonds in there while miners are left out i.e. FPGA.CONTRACT (not saying that they should be in BMF).

Just wondering what the approach is for BMF?

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June 17, 2012, 05:06:47 AM
 #32

We are evaluating companies on a case by case basis as time goes by. Our funds are limited, as we have not fully IPO'd yet (not even 50%) so we have had to take what deals we have come across. If we could sell a few hundred shares, we would be in a position to make deals with issuers and return this value to our shareholders.

This covers our take on the ASIC issue:
https://bitcointalk.org/index.php?topic=88047.0

I'd also like to mention, I have been sick in the hospital recently so I have not paid dividends today. Or maybe I did, and can't remember. I have a system where I update the spreadsheet right before I pay out so, daily dividends will just go out tomorrow at the regular time (and include dividends which should have been paid 4 hrs ago, of course). Sorry for the delay.

Thank you for the explanation, it's a bit clearer now.

Sorry to hear you're sick. I hope you get well soon!

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June 17, 2012, 08:48:37 AM
 #33


I'd also like to mention, I have been sick in the hospital recently so I have not paid dividends today. Or maybe I did, and can't remember. I have a system where I update the spreadsheet right before I pay out so, daily dividends will just go out tomorrow at the regular time (and include dividends which should have been paid 4 hrs ago, of course). Sorry for the delay.


Don't strain yourself, and get well!
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June 23, 2012, 07:07:53 PM
 #34

What's the reason for the crash in your opinion?
Some people just cashing out, shifts of investments to pirate, increase in difficulty, what?

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June 23, 2012, 07:23:16 PM
 #35

What's the reason for the crash in your opinion?
Some people just cashing out, shifts of investments to pirate, increase in difficulty, what?

Increase in BTC price, increase in difficulty, BFL's ASIC announcements.
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June 23, 2012, 08:58:39 PM
 #36

What's the reason for the crash in your opinion?
Some people just cashing out, shifts of investments to pirate, increase in difficulty, what?

Increase in BTC price, increase in difficulty, BFL's ASIC announcements.

Mining bond prices were hit especially hard by all three, and so many of the assets on GLBSE are in some way dependent/related to/invested in mining bonds that nearly everything crashed. Also (IMO) some recovery from extreme overvaluation, which (IMO) isn't yet complete. Some bonds were (IMO) ridiculously inflated; a few shocks are bringing them much closer to their actual value.

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June 24, 2012, 11:17:33 AM
 #37

Im personally avoiding bonds and only invest in mining companies with hardware that has a clear upgrade path, or growth shares like Moore.

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June 24, 2012, 06:42:28 PM
 #38

I hope you are feeling better.

Just wondering: What happened to the promised daily dividends for June? It looks good to me up until the 15th, but then there are more and more gaps?

(GLBSETime whilst posting this: 14:38, Sun Jun 24) 


Quote
*For the month of June, we will read this to mean pay out dividends approximately once every 24 hours (on or before the 7th of the month) for the previous month's dividends. After June, dividends will return to their normal frequency.

Code:
2012-06-15 09:21 3.99999704 2774 0.00144196
2012-06-17 07:54 1.13997177 3381 0.00033717
2012-06-18 09:38 10.43998719 3387 0.00308237
2012-06-20 12:56 8.49999356 3494 0.00243274
2012-06-22 10:33 1.96997922 3594 0.00054813

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June 26, 2012, 10:11:14 AM
 #39

What is the outcome of the motion?

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June 26, 2012, 02:50:34 PM
 #40

A little off-topic from saving the NAV and such but...

I really enjoyed the the two interviews you (usagi) did with gigavps and Garret about their respective mining ventures. (These interviews can be found on the BMF website: http://tsukino.ca/bmf/ )
It was an insightful look as to how "the pros" mine Bitcoins.
Thank you very much.

I hope that you will be able to continue to interview more of the operators of the securities that BMF has a stake in. It helps me (as an investor) to know that there are real people behind the ticker symbols.
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