Dividends on ASICMiner have been down the last few weeks because they've repaid their initial IPO and because they're re-investing in hardware, I suspect you knew all this. It sounds like it should be back to normal the week after next. I project APY to be a respectable 38% nominally @ the current btct.co ask price(.7554).
I don't believe it's suitable for inclusion in your fund as it's not a pure mining play, but from a yield stand point it remains attractive IMO.
Topic: [BTC-TC and BF] MININGCO.ETF - Closed - page 14. (Read 48277 times)
Total dividends of 0.09027343 (management fee included) will be paid this week.
Despite the increasing value of BTC vs USD, the price of just about all underlying assets has remained the same.
This has caused the NAV per share to remain at BTC0.64
Future Outlook - My guess as to what's to come.
ASICS? BFL? Avalon? Anyone?
ASICMINER is still on the table. Now that the dividends have dropped significantly, is it still a value at the price it sells at?
MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
Despite the increasing value of BTC vs USD, the price of just about all underlying assets has remained the same.
This has caused the NAV per share to remain at BTC0.64
Future Outlook - My guess as to what's to come.
ASICS? BFL? Avalon? Anyone?
ASICMINER is still on the table. Now that the dividends have dropped significantly, is it still a value at the price it sells at?
MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
Total dividends of 0.10619087 (management fee included) will be paid this week.
This week, Cognitive has continued to be pressured lower due to COG.F. It has reach its lowest 7day average ever at .138 per share.
GLARI Mining Project (GMP) has jumped in price to 1.00 per share in anticipation of Avalon batch 2 being shipped.
This has caused the NAV per share to increase to BTC0.64
Future Outlook - My guess as to what's to come.
Spotlight on Cognitive. What's up with them anyway?
Cognitive is suffering unintended consequences from COG.F
COG.F is meant to raise BTC for Cognitive to purchase new hardware; so it can stay competitive with other companies. If you buy a COG.F share (currently priced at 2.5 BTC), you will eventually get 20 Cognitive shares. The way that a COG.F owner receives new shares is by the original Cognitive issuing new shares. This leads most people to believe that the original Cognitive stock will be diluted and is valued at .125
However, COG.F doesn't get access to any dividends until after new mining hardware is purchased and hashing--whereas original Cognitive shares receive dividends all the while. In theory, original Cognitive shares shouldn't be diluted (all that much) as new shares will only be issued after additional mining power has been added.
In the long run, all mining companies are as strong as their hash rate. Cognitive has taken some unique steps to ensure it remains strong.
MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
ASCIMINER seems to be going crazy since it paid out it's promised .10 BTC per share.
Will huge dividends continue or will the rest of Bitfountian now begin to collect?
Even though the price has dropped, I still think ASICMINER is a tad overpriced. What do you think?
With GMP priced so high, the fund is off balance. In the past, the sale of new MiningCo.ETF shares has brought in enough cash to purchase enough underlying assets to bring the fund back in balance.
According to the contract, we still have time before a balance must occur, but I really don't want to sell some of our GMP shares when it is so close to getting their batch 2 Avalons.
Will huge dividends continue or will the rest of Bitfountian now begin to collect?
Even though the price has dropped, I still think ASICMINER is a tad overpriced. What do you think?
With GMP priced so high, the fund is off balance. In the past, the sale of new MiningCo.ETF shares has brought in enough cash to purchase enough underlying assets to bring the fund back in balance.
According to the contract, we still have time before a balance must occur, but I really don't want to sell some of our GMP shares when it is so close to getting their batch 2 Avalons.
I would like to suggest that when you make an update, write in another post instead of editing the last one. I follow the new posts in this topic and is impossible to follow editions of previous posts. I saw the increased price in btct and then came to this topic to see if something has changed but would be nicer to see it here before.
I completely understand where you are coming from.
However, I did post my responses to previous posts and the "News Update" all in one big post.
I think I may have gone back and increased the font size and bolded "News Update," but that would be the only edit.
Edit: As a matter of fact, I did not edit that post. You can tell when a post is edited by hovering the mouse pointer over the underlined date and time of the post, a tool-tip will show the last edit time. No underline... no edit.
Looking back. I should have made two separate posts (one for the responses, one for the news). I'll do this from now on.
News Update:
GLARI Mining Project has gone into "Shareholder Protection Mode" in anticipation of starting to mine on Avalon ASIC devices.
As such, the share price of GMP is now 1.00 btc.
This has jumped the MiningCo.ETF NAV per share to BTC0.65
GLARI Mining Project has gone into "Shareholder Protection Mode" in anticipation of starting to mine on Avalon ASIC devices.
As such, the share price of GMP is now 1.00 btc.
This has jumped the MiningCo.ETF NAV per share to BTC0.65
I would like to suggest that when you make an update, write in another post instead of editing the last one. I follow the new posts in this topic and is impossible to follow editions of previous posts. I saw the increased price in btct and then came to this topic to see if something has changed but would be nicer to see it here before.
I think that the current price of ASICMINER is overvalued at this moment.
I agree. I would still like more opinions on the current cost of ASCIMINER.
I am very curious to see what the price of ASCIMINER we be when other companies get their ASIC devices mining.
Cost averaging ASICMINER shares is the only way in what this market is to insure exposure. With as little liquidity as there is as a whole, I would not suggest anything more than several investments over a drawn out period. The fund cannot really afford a large investment anyway without an influx of additional capitol.
This is true. Cost averaging is sound strategy.
It's also true that I don't keep a lot of BTC in the fund. I usually only keep enough in the fund to manage day-to-day stuff. The rest is used for underlying assets.
News Update:
GLARI Mining Project has gone into "Shareholder Protection Mode" in anticipation of starting to mine on Avalon ASIC devices.
As such, the share price of GMP is now 1.00 btc.
This has jumped the MiningCo.ETF NAV per share to BTC0.65
Cost averaging ASICMINER shares is the only way in what this market is to insure exposure. With as little liquidity as there is as a whole, I would not suggest anything more than several investments over a drawn out period. The fund cannot really afford a large investment anyway without an influx of additional capitol.
I think that the current price of ASICMINER is overvalued at this moment. But I'm not an expert, should check the different topics about it in this forum.
Total dividends of 0.12953689 (management fee included) will be paid this week.
This week, Cognitive has been hit hard by the release of COG.F.
This has caused the NAV per share to lower to BTC0.54.
Future Outlook - My guess as to what's to come and my opinions.
The high price of price of BTC vs USD still weighs on the share prices. This will probably be the new norm.
Nasty Fans and bASIC-MINING are doing a great job with dividends despite the increasing difficulty. The downward trend of dividends was stopped thanks to them.
I will be looking to add ASCIMINER to the fund. But I fear that buying in now will be buying in at the highest price. (Would love to hear your thoughts on this.)
MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
This week, Cognitive has been hit hard by the release of COG.F.
This has caused the NAV per share to lower to BTC0.54.
Future Outlook - My guess as to what's to come and my opinions.
The high price of price of BTC vs USD still weighs on the share prices. This will probably be the new norm.
Nasty Fans and bASIC-MINING are doing a great job with dividends despite the increasing difficulty. The downward trend of dividends was stopped thanks to them.
I will be looking to add ASCIMINER to the fund. But I fear that buying in now will be buying in at the highest price. (Would love to hear your thoughts on this.)
MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
It could be that the "30MH/s per share" estimates made some people think it was a PMB?
Not sure why you need a contract change at all. ASICMINER shareholders own the company. Therefore they own any mining gear owned by the company. Only reason why ASICMINER wouldn't be valid under contract contract is if the contract were interpreted as meaning you'd invest only in companies that only mined. But that's not what contract says - so as far as I can see you can invest in ANY company that has mining as part of its activities AND where the company is owned by shareholders (i.e. no bonds).
+1
Not sure why you need a contract change at all. ASICMINER shareholders own the company. Therefore they own any mining gear owned by the company. Only reason why ASICMINER wouldn't be valid under contract contract is if the contract were interpreted as meaning you'd invest only in companies that only mined. But that's not what contract says - so as far as I can see you can invest in ANY company that has mining as part of its activities AND where the company is owned by shareholders (i.e. no bonds).
They are in the mining sector through.
I totally disagree, as far as I kwow ASICMINER es THE mining company right now.
OK. I hear you loud and clear!
I'd like to propose a motion to amend the contract to allow for this type of entity.
This is a great idea.
How does this look for the motion:
Motion to change the asset contract.
Motion summary:
Removal of the clauses that requires mining equipment to be owned by the shareholders.
This will allow the inclusion of additional mining companies (such as ASICMINER) into the fund.
Enhanced HTML formatting will allow for easier readability by adding bold, italics, and proper word-wrapping.
Motion Changes:
Change this sentence from the paragraph "Summary"
From: "MININGCO.ETF is an Exchange Traded Fund that holds assets that are invested in mining Bitcoins where mining equipment is owned by the shareholders."
To: "MININGCO.ETF is an Exchange Traded Fund that holds assets that are invested in mining Bitcoins."
--
Remove from the paragraph "Assets to be included," the following clause: "Only mining assets where equipment is owned by the shareholders will be included in the fund."
--
Change this sentence from the "Executive Summary" on the asset details page
From: "Only mining companies where the shareholders own the equipment are included."
To: "Only mining companies are included."
--
Remove from the the "Business Description" on the asset details page, the following clause: "Only mining assets where equipment is owned by the shareholders will be included in the fund."
--
Allow the asset contract to be updated with enhanced html formatting, a feature of BTC-TC that was implemented after this asset was created.
*Anyone, please correct me if I'm wrong.
ASIC manufactures sell devices to miners. We are both an ASIC manufacture and a miner. Does this make us less useful and more evil than both?
This help at all?
ie - they are both a manufacturing company AND a mining company.
If this is too "vague". I'd like to propose a motion to amend the contract to allow for this type of entity.
Would it be possible to add ASICMINER shares to the underlying assets ?
ASCIMINER is not a mining company.
Actually, Bitfountain is a ASIC equipment manufacturer that just happens to be mining using the equipment they make.*
It would be like if Whirlpool (who makes kitchen appliances) made bread makers and used them to sell bread.
As such, they are not a mining company and don't conform to the asset contract.
*Anyone, please correct me if I'm wrong.
I totally disagree, as far as I kwow ASICMINER es THE mining company right now. There is not any other mining company with a haspower greater than ASICMINER at this moment (soon they will reach the 50 Thash/s) Also they are paying mining dividends higher than any other. They build their own hardware to mine but that can only be a positive thing in my opinion.
They are in the mining sector through.
Would it be possible to add ASICMINER shares to the underlying assets ?
ASCIMINER is not a mining company.
Actually, Bitfountain is a ASIC equipment manufacturer that just happens to be mining using the equipment they make.*
It would be like if Whirlpool (who makes kitchen appliances) made bread makers and used them to sell bread.
As such, they are not a mining company and don't conform to the asset contract.
*Anyone, please correct me if I'm wrong.
Would it be possible to add ASICMINER shares to the underlying assets ?
I think that the current ASICMINER market price is a bit high at 0.7-0.8 but may be it is possible to buy a bulk at a better price (may be 0.5)
I think that the current ASICMINER market price is a bit high at 0.7-0.8 but may be it is possible to buy a bulk at a better price (may be 0.5)
Total dividends of 0.10828914 (management fee included) will be paid this week.
Dividends may be paid an hour off due to Daylight Saving/Summer Time.
This week, all underlying assets except GMP have taken a hit. Nasty Fans has dipped to .30; bASIC-MINING has lowered to .34; and COGNITIVE has dropped to .21 for the last 7 day averages.
This has caused the NAV per share to lower to BTC0.55.
Future Outlook - My guess as to what's to come.
The recent jump in price of BTC vs USD has weighed on the share prices.
The continual arrival of ASIC devices is slowly chewing away at the current mining companies' profits--this is causing the lower dividends.
As such, investors have started to move elsewhere (such as ASCIMINER and its pass-throughs)--this causes the lower price.
I can't give advice about buying or selling shares; but all of the underlying assets in MiningCo.ETF have ASIC devices on order. It's only a matter of time.
MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
Dividends may be paid an hour off due to Daylight Saving/Summer Time.
This week, all underlying assets except GMP have taken a hit. Nasty Fans has dipped to .30; bASIC-MINING has lowered to .34; and COGNITIVE has dropped to .21 for the last 7 day averages.
This has caused the NAV per share to lower to BTC0.55.
Future Outlook - My guess as to what's to come.
The recent jump in price of BTC vs USD has weighed on the share prices.
The continual arrival of ASIC devices is slowly chewing away at the current mining companies' profits--this is causing the lower dividends.
As such, investors have started to move elsewhere (such as ASCIMINER and its pass-throughs)--this causes the lower price.
I can't give advice about buying or selling shares; but all of the underlying assets in MiningCo.ETF have ASIC devices on order. It's only a matter of time.
MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
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