Topic: [BTC-TC and BF] MININGCO.ETF - Closed - page 7. (Read 48246 times)

Will BitFunder new policy on US citizens affecting our transfer? Or affecting the operation of this ETF?
I am not a US citizen, so it does not hurt me except the share price.
Our NAV will drop further, at least temporarily.

For now, there are still a few hours of market trading left. As I have said, I will let trading on btct.co continue until Burnside shuts it off.

After that, I ask that everyone wait on "standby."  I will work out a plan to transfer shares to BitFunder. Remember, I will have a list of shares and which email and Bitcoin address they belong to.
I am trying to come up with an easy way to transition to BitFunder for both shareholders and myself. The plan I have right now (based on my NASTY-PT transfer plan) is effective, but is very time consuming and laborious for me. If I can't find an easier way, then we'll just go with that.

Thanks Carnth for your management so far. I have voted for continuation of this ETF, especially during this period of time. One thing I hope the new manager can do is to include more mining companies as there are more competitors appearing. I think this is important for this ETF to continue its growth.

Since moving MININGCO.ETF from btct to bitfunder has to be done for every shareholder, is there any announcement of detail steps for all shareholders to follow?  e.g. matching the btct account name with that on bitfunder?

Total dividends of 0.51421449 will be paid this week.

This is about 0.00020173 per share with an instant annual dividend yield of 22.67%

This week, our underlying assets continues to suffer becuase of btct.co closing.

This has caused the NAV per share to decrease to BTC0.0463

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Future Outlook - My guess as to what's to come.

With btct.co closing, many of our underlying assets are wondering "where should we go now?"
All of our underlying assets have pledged to continue on. MiningCo.ETF will continue on as well, by moving to BitFunder.

One thing will change, I will be stepping down as the asset/fund manager. Please see this post for information about it.
However, I will not force a new manager on you. Every shareholder has the choice: change managers, or the fund will close.
The motion to vote is open NOW, so please vote.

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MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
Shares can be transferred between BTCT.co and BitFunder. 10 share minimum. PM Carnth for details.

Yes, I will still be a shareholder, but that's all I would be. I can offer guidance, but do not think that I would co-mange.
This would be a complete transfer of management.

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This is not just iCEBREAKER's thread. I welcome any comments, questions or concerns for me or OgNasty.

Thanks for addressing my FUD.

Sorry for the unkind characterization Og, I needed to Devil's advocate this for due diligence reasons.

Based on your informative and professional response, I'm changing my 1000+ 600+ votes to 'Go Nasty!'  

Carnth, will you still be a shareholder and available to offer us occasional guidance post-transfer?

Just wanted to say that this is true and I have offered to manage this fund as opposed to it closing.  I have been a fan of this fund since the beginning and do not want to see it close.  

First thing is first...  This fund holds shares of NastyFans, which I am a large part of.  This is an obvious conflict of interests, but one that I will manage well and remain open to criticism from those of you willing to remain onboard with this fund.

As far as my thoughts on how I would manage this fund...  I think Carnth did an excellent job selecting assets from trustworthy members.  I have no plans to change this fund into a yield chaser, or invest in assets offered by those who have not proven themselves to the community.  One thing I will change is that I believe there is plenty of demand for this fund, but rarely good entry points (Carnth touched on this by saying he does not have the time to manage this fund as it should be).  I think shares need to be listed for sale and adjusted regularly to account for the NAV.  I also plan to have the MININGCO.ETF thread show you all the info you need to know with automatically updating statistics showing our exact number of holdings and the fund's NAV.  This will be similar to the way I list holdings in the NASTY MINING thread.

I think there are currently lots of opportunities available for a fund like this to take advantage of, and I would look forward to the challenge of exploiting those opportunities for the profit of the fund.

If you have any comments, good or bad about me managing this fund, please feel free to share.



An indebted American is not an accurate description of me.  While NASTY MINING is in debt as you say, our 5.8TH/s will quickly erase that debt and continue to return profits to NastyFans as I have done for well over a year.  This fund would never take on any debts of any kind, so I think that observation is moot.  I have no problems at all with regards to more candidates and if you can find someone trustworthy with more experience managing assets than I have, I urge you to ask them to offer their services on this thread.

I think more candidates would be good too. If you know anyone who would be up to the challenge, please refer them to this thread.

Hi Carnth,

I prefer your light touch to riskier aggressive styles, despite my previous whining about not rebalancing.   

OgNasty means well, but his asset is in debt and AFAIK he's in the USSA.

Given a choice between gradual liquidation and transfer to an indebted American, I'm neutral and vote 'Meh.'

Need more info/candidates to get off the fence.

Thank you, that was my goal.




Actually I said:

I am taking responsibility for not doing my absolute best to manage this fund. To fix this, I am trying to find someone else who has the time to do a better job. This is what I'm really announcing.

MiningCo.ETF will only shutdown if the shareholders vote to do so.




Assuming that a new manager is voted against by shareholders, I won't dump all at once. Liquidation could take a while.




This is actually a interesting idea and will be considered... assuming that shareholders vote to shutdown MiningCo.ETF.



The plan is to stay on BitFunder and to move all existing shares from btct.co to BitFunder.
Under a new fund manager, BitFunder is to be MiningCo.ETF's new home.

iCEBREAKER, I ask: How would you vote? Find a new manager or close the fund?

IDC about BTCT shutting down, esp after their green-lighting ScamCoin but refusing Deadterra's IceDrill.

This ETF shutdown is another story.  I bought it as a safe, stable asset and now you announce it's the opposite.

Assuming no new operator, how does liquidation commence when BTCT is closed?

Will you dump our shares at low prices or wait for assets to find new homes?

May individual investors have their ETF shares' underlying assets transferred to them?

Why just not stay on Bitfunder, where all my shares are already?

Look at Gamma Fund's template for this sort of thing if you need guidance.

MiningCo.ETF to change Fund Managers.

After careful consideration, I have decided to cease managing MiningCo.ETF. I am involved with other projects in the crypto world that are taking my time and feel that I can not perform my duties to the fullest extent to make this the best fund possible.
However, I am open to a new manager stepping in to completely take over operations.
OgNasty has offered to take the helm of MiningCo.ETF and manage it with the openness that I had and with the fervor that he manages Nasty Mining.

At this point, I will start a shareholder motion. Your choices are:
-Assign a new manager to MiningCo.ETF
-Shutdown the fund.

I am officially giving 30 days notice that the fund will shut down if a new manager can not be chosen.

If anyone else is interested in managing the fund, this thread is the best place for a public debate. Please post that you want to take over managing the fund, why and what approach you will take. And be prepared to answer questions.
Do not post on behalf of someone else or say "I think X should do it." Instead, show them this post.

Thank you everyone who invested in MiningCo.ETF. I know this last week has been difficult. Changing the management of this fund will make it more so. But with careful planning and open discussion, we can get through this together.

+1

There should always be more shares to buy at the NAV.   

I would buy more shares from the fund at current NAV if you think you could use the liquidity.

Total dividends of 0.54973158 will be paid this week.

This is about 0.00021823 per share with an instant annual dividend yield of 19.54%

This week, our underlying assets succumbed to intense panic selling due to btct.co announcing its shutdown.

This has caused the NAV per share to decrease to BTC0.0581

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Future Outlook - My guess as to what's to come.

Wow. btct.co.... gone.

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MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
Shares can be transferred between BTCT.co and BitFunder. 10 share minimum. PM Carnth for details.

Short answer: yes.

Did you score any cheap shares for us during the Great Panic of 0' 13?   

Last: ▼[email protected]  Dang, wish I'd had some skunk bids in place.

If there ever was a time for a share buyback, this would be it!

MiningCo.ETF is in a position to easily shift operations to Bitfunder. This will happen in an orderly fashion. But not at this exact moment.

The only thing that causes me concern is the panic sellers. There is no reason to panic. Burnside has always made it easy for asset issuers to maintain complete lists of all shareholders on btct.co.
These lists can easily be imported in to another exchange where the asset can continue on. MiningCo.ETF will be doing that.

I will also be in touch with our underlying assets that are also on btct.co (bASIC-MINIG, Cognitive, ASICMINER-PT). After I hear from them I will provide our options for moving forward.

BTCT Shutdown , what to do next for share holders stuck on btct because of Panic sell , how to transfer shares to Bitfunder ?

Would be great if we could get some shares for sale at the NAV on the exchanges so this fund could grow.