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Author Topic: [GLBSE] DEEPBIT Miner Variance Protection  (Read 4661 times)
organofcorti
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July 03, 2012, 09:59:16 AM
 #21

Well, we're up to block 187319, and we're waiting on block 187487 to start. So only a day or so to go before we start the insurance and another day or two (estimated 1.4 days) before the first coupon payment.

I'll update here with results and show how much a miner would have earned with and without the insurance. Anyone have any preferences as to how I should do this?

Also, I'm considering recalling unsold shares at IPO and have replacements sold at 0.9*IPO price as soon as the first coupon has gone out, at 0.8*IPO price when the second coupon has been paid, etc. Do any of my current investors have an opinion about this?


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July 04, 2012, 12:17:29 PM
 #22

Block 187487 has been solved,  so the variance protection is live. First coupon to be paid in approximately 1.4 days..



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July 05, 2012, 07:57:06 AM
 #23

Halfway through the first coupon period and average round length is 1.183 * expected. Bad luck for Deepbit so far.

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July 07, 2012, 04:13:50 AM
 #24

MEI.DEEPBIT.A Coupon 1 claim results:

DeepBit's mean round length for the period was 1.051 x Difficulty, resulting in a  coupon payment of 0.01051 per bond, 105.1% of expected.



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July 07, 2012, 12:48:26 PM
 #25

MEI.DEEPBIT.A Coupon 2 claim:
DeepBit's mean round length for the period was 0.89105 x Difficulty, resulting in a  coupon payment of 0.0089105 Btc per bond, 89.1% of expected.



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July 09, 2012, 07:59:12 AM
 #26

MEI.DEEPBIT.A Coupon 3 claim:
DeepBit's mean round length for the period was 1.056887 x Difficulty, resulting in a  coupon payment of 0.01056887 Btc per bond, 105.7% of expected.


MEI.DEEPBIT.A Coupon 3 claim: 0.01056887 Btc.


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July 10, 2012, 08:07:47 AM
 #27

MEI.DEEPBIT.B will IPO on 14th July 2012 at 0:00 UTC. MEI.DEEPBIT.A and B will run on alternating Difficulty periods to

The next MEI.DEEPBIT.B will start paying claims after block 189503.

100 bonds will insure approximately 1.25 Ghps in a 1:1 ratio (this will vary with difficulty and pool hashrate)


MEI.DEEPBIT.A Coupon 4 claim:
DeepBit's mean round length for the period was 1.022654 x Difficulty, resulting in a  coupon payment of 0.01022654 Btc per bond, 102.3% of expected.

MEI.DEEPBIT.A coupon 4 claim: 0.01022654 Btc / bond (+ 2.3 %)

MEI.DEEPBIT.A total claims paid / bond: 0.0402127 ( + 0.53%)



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July 12, 2012, 12:39:40 AM
 #28

MEI.DEEPBIT.B will IPO on 14th July 2012 at 0:00 UTC, and start paying claims after block 189503.

MEI.DEEPBIT.A and B will run on alternating Difficulty periods.

100 bonds will insure approximately 1.40 Ghps in a 1:1 ratio at the current estimated next Difficulty.

It has been an difficult Difficulty period for DeepBit.net miners so far, and holders of insurance are doing much better than they would have under a proportional payout.

MEI.DEEPBIT.A Coupon 5 claim:
DeepBit's mean round length for the period was 1.071551 x Difficulty, resulting in a  coupon payment of 0.01071551 Btc per bond, 107.1% of expected.

MEI.DEEPBIT.A coupon 4 claim: 0.01071551 Btc / bond (+ 7.1 %)

MEI.DEEPBIT.A average claims paid / bond: 0.10214772 ( + 2.04 %)




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organofcorti
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July 13, 2012, 05:50:11 AM
 #29

I've had a request to reduce the frequency of payouts in order to reduce bookkeeping. Does anyone have a preference? Unfortunately I'm not sure I can add a poll to an existing topic, so just post your preferences here.

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July 13, 2012, 05:54:29 AM
 #30

You should be able to edit your OP and add a poll but better yet you might put it up as a vote on the asset itself on GLBSE.  At any rate I would vote for the longer payout period since it is a lot of book keeping with the current frequency.

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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July 13, 2012, 06:36:31 AM
 #31

You should be able to edit your OP and add a poll
Yes, I thought I'd done it before but I can't find the option.

but better yet you might put it up as a vote on the asset itself on GLBSE.

And this would be the best option by far. However, since the bond would only last about two weeks at a time, I didn't think I'd need to make it a voting type of security, so the "Motions" button does nothing for me.

I'll email GLBSE Support and see if I can organise a vote regardless.

At any rate I would vote for the longer payout period since it is a lot of book keeping with the current frequency.

What would your preferred payout period be? Here are some options for you and others (to make it a bit easier):

1. On the expiry of the bond (1 payment only)
2. Weekly (two payments)
3. Every three to four days
4. Keep as is (every 1.4 days or so).



MEI.DEEPBIT.B goes on sale tomorrow, 14th July 0:00 UTC. It will become active from block 189504 onwards for two weeks, when A will be active again. Any changes in payout frequency for A will also hold for B.




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July 13, 2012, 06:48:46 AM
 #32

I would say doubling the current period (or maybe 4x the current period) would be just fine.  Your current payout comes way faster than my mining payouts.

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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July 13, 2012, 08:03:45 AM
 #33

We're exactly mid way through at the moment, with 5 payments out of 10 done. Unless any other customers want the original payment scheme, I'll make two more payments, each for 2.5 of the usual payment.

In the meantime I'll contact GLBSE support to see what can be done about voting and the contract.

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July 13, 2012, 08:12:55 PM
 #34

We're exactly mid way through at the moment, with 5 payments out of 10 done. Unless any other customers want the original payment scheme, I'll make two more payments, each for 2.5 of the usual payment.

In the meantime I'll contact GLBSE support to see what can be done about voting and the contract.
If it is easier do one more on the current schedule then move to the every other schedule, so three more.  Then from then on just do every other one.  Might make the math easier.

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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July 13, 2012, 11:44:43 PM
 #35

We're exactly mid way through at the moment, with 5 payments out of 10 done. Unless any other customers want the original payment scheme, I'll make two more payments, each for 2.5 of the usual payment.

In the meantime I'll contact GLBSE support to see what can be done about voting and the contract.
If it is easier do one more on the current schedule then move to the every other schedule, so three more.  Then from then on just do every other one.  Might make the math easier.

It's ok. I rewrote the code last night. Next coupon pays 132 rounds, the final one pays 133 rounds.




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July 14, 2012, 10:31:36 AM
 #36

MEI.DEEPBIT.B available now at GLBSE.com for 0.1016 btc. They will be removed from sale at block height 189503, after which we will start paying coupons.

The bonds will be valid for 492 rounds, and pay coupons every 123 DeepBit rounds.

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July 15, 2012, 03:15:57 AM
 #37

MEI.DEEPBIT.A Coupon 6 claim: 0.02347875 Btc per bond ( - 6.09 %)
MEI.DEEPBIT.A Claims paid / 100 starting bonds: 7.455261 Btc ( - 0.597 %)







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July 15, 2012, 11:47:59 PM
 #38

MEI.DEEPBIT.B will activate in about 36 hours, and after this point no more insurance will be sold for the Difficulty period. MEI.DEEPBIT.A will soon pay its last coupon and retire until the following Difficulty period.

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July 18, 2012, 01:30:37 AM
 #39

MEI.DEEPBIT.B has activated, and will start paying coupons at 123 DeepBit.net rounds solved.
I have removed my asks now, so if you wish to purchase bonds, place a bid or pm me..

I expect DeepBit to finish the 530 round run (which started with the last Difficulty period) later today. If this is the case  MEI.DEEPBIT.A will pay its last coupon and expire, at which point I will call the bonds for 0 Btc (the expected bond value - the expected coupon value).

I hope all users are finding the insurance useful.



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July 18, 2012, 08:46:46 AM
 #40

Whoever it is with a bid of 1 for 0.05 on DeepBit.A, you're offering too much. The expected remaining value is 0.025, and the coupon will pay out shortly after which the bond expires and has a value of zero on recall. I would certainly accept that bid, but you'd be guaranteed a ~ -50% ROI.

A good guide is 0.075 btc after the first coupon, 0.05btc after the second and 0.025 after the third. However, because risk is increased and also some of the blocks in the quarter will have already been solved, you need to take that into account. PM me if you want a quote, and please be careful if you're using bots to buy MEI securities.

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