Topic: [BTC-TC] BTC-Trading Pass-Through Fund (BTC-TRADING-PT) is closed - page 3. (Read 18924 times)

Looks like the problem is a little bit bigger than that. Luckily my trading strategy caused me to avoid a 50 BTC loss, as I had only picked up 20 or so shares above .90. Still, an 8-10 BTC loss with little to no warning is pretty bad.

I didn't actually realize that LTC-GLOBAL had stopped allowing new users. Looks like BTC-TC has too. That's an extremely troubling sign. I'm going to have to look into that. I'd say shares of LTC-GLOBAL are worth IPO right about now (20 LTC) not 300 (or 450+ for that matter).

Mabsark,

Rannasha's answers are accurate, although I disagree with his belief that the stock is overpriced. The exchanges are growing and I believe they will continue to grow. Increasing profits justify a higher price.

I don't provide a history because that information can be obtained elsewhere already (including in this thread), and because I'm lazy.

BTC-TRADING-PT is passive and only hold shares of LTC-GLOBAL. Its price closely follows the price of LTC-GLOBAL, but it is denominated in BTC. Ignoring recent events, it has dropped over the last several weeks because the price of LTC in terms of BTC has been falling (20% or so).

It would be nice if this link contained more than the current and previous months data.

It's a public portfolio for user "BTCTRADINGPT". The page shows that it owns 130 shares of LTC-GLOBAL and has a 0 LTC balance.

130 LTC-GLOBAL shares can back up to 1300 BTC-TRADING-PT shares due to the 1:10 ratio between the original and the passthrough. And there are exactly 1300 PT-shares outstanding, so all PT-shares are backed properly by shares of the original security.

Can anyone tell me what's on that page as I can't view it? I need an LTC-GLOBAL account but registration is currently disabled.

While you're reasoning makes sense, it remains to be seen if the super-high trade volume keeps up. The exchange can't keep milking LABCOIN forever. Either the issuers prove they're legit and things settle down or they're outed as a scam and the whole thing comes crashing down. Either way, it'll probably happen soon. In addition, there have been fair amount of medium-to-large IPOs recently that benefit the overal trade volume (and fees), but that's not something that lasts.

There's definitely potential for decent profits, but it's fairly uncertain right now.

Looking at the history, dividends seems to be increasing significantly over the last few months and there's been a hell of a lot of trading of Labcoin shares on BTC-TC over the last couple of weeks. The last div was basically double the previous one and if the they've doubled again by the next payout (2 months after the last one), then the divs would be around 0.01 BTC/share - or around 1/4 that of AM for about 1/3 the price.

I think I'll need to do a bit more research before investing though, but it's seems to be looking good so far. If the price falls to 0.4 BTC per share and the next div is 0.01 BTC per share, then that's on par with AM now.

The stock is overpriced. Even with regular dividends, the expected APR is considerably lower than pretty much every bond/loan that is on offer on the exchange. I'm not sure why it has held up its price for so long. I guess that a fair number of shares isn't moving since people hold these (on LTC-Global) to have a moderator-vote on new assets.

To expand on that: LTC-Global (the asset for which BTC-TRADING-PT is the passthrough) is currently valued at ~$5,000,000 (10000 shares @ 250 LTC per share @ $2 per LTC, roughly), which is completely out of sync with its income. Make no mistake, the site makes a fair amount of coin from trade fees, but not enough to justify the current valuation. This is mostly a consequence of market forces though, whatever they may be, as the IPO was at 25 LTC per share back in sept 2012, when LTC was worth not nearly as much as it is now. Since then, both $/LTC and LTC/share have gone up considerably.

I'm looking at investing in this asset and have noticed that the share price has basically halved in the past 2 weeks. Is there a logical reason for this decrease, such as a contractual change/operational change, etc?

I can't see any notices about anything changing, but I did come across a comment about divs not being paid last month and the funds being used to hire legal advice. Was that just a one time thing? Will divs be getting paid again as usual this month?

Any other info that I should know about to help make my decision?

Most likely it was just some maintenance occurring on the site - when that happens trading gets briefly disabled on everything.  Usually there's a box at the top which says Maintenance is occurring but if you're already on a security when it starts then you don't get to see that unless you refresh.

No. Now everything is OK.

Whats the logic/thought pattern of voting 'no' for a benign futures instrument?

Here are the results of recent voting:

Ticker	Exchange	Result (Yes-No)
COMINING	LTC-GLOBAL	Abstained 180-115
HOSTED-MINING	LTC-GLOBAL	Abstained 181-115
CIPHERMINE-PT	BTC-TC	Approved 293-4
CIPHERMINE.B1	BTC-TC	Approved 150-48
TAT.NEOBEE	BTC-TC	Approved 387-48
ET-DIFF	BTC-TC	Abstain 137-88

I can't explain because I don't see it. Are you still getting that message?


As for the split, we are still waiting for Ethan to proceed with the plan for splitting LTC-GLOBAL. No word yet on the progress of that. Sorry.

Wow.. that is great news!

...would be my guess.

"Trading is currently frozen on this security."

Could you explain?

September 7, 2013

Overview

The information below reflects the status of the fund on August 31, 2013. Changes since then are not included.

Asset Information
Assets: 140 shares of LTC-GLOBAL
Shares Outstanding: 1400
NAV (per share): 0.94779 (based on the LTC-GLOBAL 7 day average price of 499.10 LTC)

Dividend Information
Dividend: 0 BTC. No dividend was paid this month
Dividend per share: 0 BTC
Monthly Yield (based on NAV): 0%
Annualized Yield: 0%

Management Fee
Normal Fee (0.08333% of asset value): 39.93 LTC
Waived: 39.93 LTC
Fee Paid: 0 LTC

Detailed information can be found here: https://docs.google.com/spreadsheet/ccc?key=0Am3m7aRNI-JbdElvTTc5Vmg3bUh2WDAwc2tsLU1JcEE

Commentary

The BTC Trading Corp exchanges again grew tremendously during the previous month. Transaction volume and the number of new assets continued to increase rapidly on both exchanges. The 7-day average price of LTC-GLOBAL nearly doubled from 272.28  LTC to 499.10 LTC. Trading volumes of both LTC-GLOBAL and BTC-TRADING-PT are rising, but are still low. Liquidity remains a problem.

burnside decided to use all of the operating income to fund a retainer for legal services. While revenue grew about 40% from the previous month, there was no profit this month and no dividend.

The assets of the fund increased to 140 shares of LTC-GLOBAL and the number of shares increased to 1400.

Please note that the NAV is only an estimation of the value of the shares. The trading volumes of both LTC-GLOBAL and BTC-TRADING-PT are low and the bid-ask spreads are very high, so the actual price of a share can vary quite a bit.

Voting

Motions must pass by a margin of 100 shares to be approved (a YES vote), or fail by a margin of 100 shares to not be approved (a NO vote). Votes with a margin of less than 100 shares receive an ABSTAIN vote. The results of motions that receive less than 200 votes will not be considered valid. At this time, voting for approval is only done for IPOs due to the lack of shares publicly held. Please vote. It is very important for the success of the exchanges and for the value of your shares.

Please note the early deadlines for IPOs. The voting period for IPOs is short because trading on a security cannot begin until the security is approved.

Ticker	Exchange	Result
COG.F3	BTC-TC	Not approved 288-96
CB.IDIFF-E	BTC-TC	Approved 407-0
ICE.DRILL	BTC-TC	Not approved 289-63
PETA-MINE	BTC-TC	Not approved 290-65
RENT1SPB	LTC-GLOBAL	Abstained
S.OPENRIGS	LTC-GLOBAL	Not approved 241-133

Share Split

I intend to split BTC-TRADING-PT shares 100 to 1 in the near future. We are still waiting on BTC Trading Corp. Stay tuned.

Other Important Information

I continue act as a market-maker in both BTC-TRADING-PT and LTC-GLOBAL, and I have been pricing bids and asks aggressively, attempting to narrow the spread and increase liquidity of the shares. I believe that both these activities have increased the trading volume for both securities and also have contributed to the rise in values of both securities. I plan to continue this activity for the foreseeable future.

There are several new securities up for voting. Please take the time to look at the securities and vote.

Name	Exchange	Deadline	Forum
ICEDRILL.ASIC	BTC-TC	2013-09-02
PETA-MINE	BTC-TC	2013-09-02
RENT1SPB	LTC-GLOBAL	2013-09-05	https://forum.litecoin.net/index.php/topic,4738.0.html
S.OPENRIGS	LTC-GLOBAL	2013-09-05	https://forum.litecoin.net/index.php/topic,5576.0.html

I understand that there is a problem with voting for securities on the Litecoin Global exchange. In order to see the information you have to log into the exchange, but many shareholders do not have an account on that exchange. I'll see what I can do. Suggestions are welcome.