Topic: μ - Bitcoin Venture Capital (Collecting Shareholders Data) - page 4. (Read 27103 times)

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.

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%

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.

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%

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.

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.

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 ?

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.

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%

+1

I see a need for this. With the difficulty rising fixed mining bonds will only drop in future!

No Way!  That is what I am doing. 

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.

This is probably true. Would be nice if there was a wider variety of companies on there too.

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

I was thinking people were cashing out and moving over to pirate bonds. 

Think thats because the block reward halving is coming ?

Thanks for the dividend.  Agreed the market has turned bearish on mining bonds 

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.

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%

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.