Topic: [GLBSE] M.ETF - The first Mining ETF listed on the GLBSE (Read 9172 times)
sooo, any news?
M.ETF dividends paid out
2012-06-20 22:03 6.72504 1000 0.00672504
Thanks JL.
2012-06-20 22:03 6.72504 1000 0.00672504
Thanks JL.
Sounds like hes had some issues and hes travelling ?
But the dividends of JLP-BMD have already been paid.
Good news. I bought more M.ETF.
Life can give you amusing shows, so to say.
I don't expect CEO sharing his personal problems with his investors, or some other forums, but when you post a LOA somewhere, ping us occasionally (once a week would be perfect).
Why not create a simple website where we can log in end see data we're interested with? Automated online spreadsheet at least?
Sounds like hes had some issues and hes travelling ?
But the dividends of JLP-BMD have already been paid.
Sounds like hes had some issues and hes travelling ?
Name: JL421
Posts: 355
Position: Sr. Member
Date Registered: September 27, 2011, 05:40:03 AM
Last Active: Today at 05:40:00 AM
I hope you're preparing the statement data.
If you need help keeping this fund running, I'm willing to give you a hand.
Come on, you have a good thing going on here. Don't blow it away please.
Posts: 355
Position: Sr. Member
Date Registered: September 27, 2011, 05:40:03 AM
Last Active: Today at 05:40:00 AM
I hope you're preparing the statement data.
If you need help keeping this fund running, I'm willing to give you a hand.
Come on, you have a good thing going on here. Don't blow it away please.
JL421, as a shareholder I would like to get recent financial statement, as it has been some time you've updated OP.
Let me know.
Thank you.
Let me know.
Thank you.
Are you planning on issuing more shares anytime soon? Thanks.
Phew...that was close 
Thanks for taking an effort to push forward. This is the first and "oldest" mining fund, and should be the strongest one.
Please, just drop us a post like "no divis for next n" and I believe no one, including myself would nitpick about dividends or whatever if only we know there are some bumps ahead of you that need some time to solve.
Buy, buy, buy!!!
Thanks for taking an effort to push forward. This is the first and "oldest" mining fund, and should be the strongest one.
Please, just drop us a post like "no divis for next n" and I believe no one, including myself would nitpick about dividends or whatever if only we know there are some bumps ahead of you that need some time to solve.
Buy, buy, buy!!!
Seems that the M.ETF is dead. No dividend is paid since 2012/3/5
Is there a quiet consensus about M.ETF that I can't find?
I seem to haven't received no dividends in two weeks or so.
Is it time you and 2weiX consider his offer if the fund is going to move forward, and as a small holder, obviously I would like it to continue, and more so would like someone like 2weiX give this fund a go, considering his experience in this field.
Thanks,
Danijel
I seem to haven't received no dividends in two weeks or so.
Is it time you and 2weiX consider his offer if the fund is going to move forward, and as a small holder, obviously I would like it to continue, and more so would like someone like 2weiX give this fund a go, considering his experience in this field.
Thanks,
Danijel
Hello;
I'm the issuer of BMF, a managed portfolio of miners on the GLBSE. We're going live on June 1st.
If you like, I can take over control of M.ETF and merge it into BMF. The fund would be liquidated, but it would be a better deal for your investors than if you just sold all the securities you've invested in and closed the fund. Please send me a message if you're interested in this.
tsukino.ca/bmf
Your BMF IPO on GLBSE is what got me writing the post above. It may be a good sign.
I've missed JL421's post when he announced that he's out of time to manage yet another project, and was fine with his solution to keep the dividends flow even without further investments, but was looking for another mining fund dividend plan to compensate M.ETF loss.
I would like to know JL421's opinion on this, and would vote for merger with BMF, if there's no interim CEO to keep M.ETF going.
hey guys, just fyi, did some multiplying and adding and thought I'd share:
rough estimate of the value of 1 share M-ETF: 0.28 BTC
(might contain errors, did this pretty much by hand, used rough mid-point between current bid and ask for value of constituents, please point out any mistakes, do your own due diligence, blablabla)
- 0.02557301 BTC: 0.0256
- 0.1 Shares of PureMining: 0.42 BTC * 0.1 = 0.042 BTC
- 0.2 Shares of JLP-BMD: 0.26 BTC * 0.2 = 0.052 BTC
- 0.26 Shares of MergedMining: 0.161 BTC * 0.26 = 0.0418 BTC
- 0.09 Shares of Cognitive: 0.5825 BTC * 0.09 = 0.052425 BTC
- 0.11 Shares of BTCSYN: 0.335 BTC * 0.11 = 0.03685 BTC
- 0.045 Shares of BITBOND: 0.646 BTC * 0.045 = 0.02907
rough estimate of the value of 1 share M-ETF: 0.28 BTC
(might contain errors, did this pretty much by hand, used rough mid-point between current bid and ask for value of constituents, please point out any mistakes, do your own due diligence, blablabla)
that'd be grand.
Is there a quiet consensus about M.ETF that I can't find?
I seem to haven't received no dividends in two weeks or so.
Is it time you and 2weiX consider his offer if the fund is going to move forward, and as a small holder, obviously I would like it to continue, and more so would like someone like 2weiX give this fund a go, considering his experience in this field.
Thanks,
Danijel
I seem to haven't received no dividends in two weeks or so.
Is it time you and 2weiX consider his offer if the fund is going to move forward, and as a small holder, obviously I would like it to continue, and more so would like someone like 2weiX give this fund a go, considering his experience in this field.
Thanks,
Danijel
I totally approve of you using option 4.
If I might make a suggestion: Use the remaining BTC to buy shares as to increase Dividends.
If all fails, I might be interested in managing this, but there's a couple of ifs and whens to that :-D
If I might make a suggestion: Use the remaining BTC to buy shares as to increase Dividends.
If all fails, I might be interested in managing this, but there's a couple of ifs and whens to that :-D
It's a day late, but I was waiting on a few GLBSE issues to be resolved, and since they were, dividends were paid.
It's a bit lower than last week, with the migration I haven't actually made any trades yet so next week should be higher once I start trading again.
For now here's the breakdown -
0.82156284 BTC - Dividend Gain (90% of all dividend earnings)
0.0 BTC - Realized Gains (90% of all Share Trading earnings)
Total Dividend Payout - 0.82156284 BTC
Reinvested - 0.04565738 BTC
Fee Taken - 0.04565738 BTC
I also believe that we are as invested as I wish to be at this time, roughly 30% of our assets are liquid coin, the rest are assets. I'm going to try to keep our liquidity down to around 25% and the rest invested. This means that we will be having a motion sometime soon about new assets being issued, but that's down the road a little bit.
Finally, the assets held list from last week is now available on the first page, as well as the post below.
Thank you all - JL421
It's a bit lower than last week, with the migration I haven't actually made any trades yet so next week should be higher once I start trading again.
For now here's the breakdown -
0.82156284 BTC - Dividend Gain (90% of all dividend earnings)
0.0 BTC - Realized Gains (90% of all Share Trading earnings)
Total Dividend Payout - 0.82156284 BTC
Reinvested - 0.04565738 BTC
Fee Taken - 0.04565738 BTC
I also believe that we are as invested as I wish to be at this time, roughly 30% of our assets are liquid coin, the rest are assets. I'm going to try to keep our liquidity down to around 25% and the rest invested. This means that we will be having a motion sometime soon about new assets being issued, but that's down the road a little bit.
Finally, the assets held list from last week is now available on the first page, as well as the post below.
Thank you all - JL421
When you publish the dividend payout could you also publish the total earnings made? Also, could you post the total equity value of M.ETF.
We also still have 80.575 BTC of outstanding orders, so 33% of the portfolio is just BTC, and 31.81% of the portfolio is invested in companies that have either not paid a dividend yet, or pay monthly, so it was not included in this dividend.
Wow. Not bad at all. I expected less on the first payment. Good job!
get that rest of the capital workin then :-D
wouldnt it be more practical to just "forward" the dividens as they roll in sans the fees?
that
I read your thread and it's valuable info. You should know I read it because I posted there, do you read your own thread?
. I also read JL421 apology for misnaming M.ETF.
Please tone it down a little, 2WeiX, you're an enrichment for this community and people value that, but you seem to have a bad temper at times
.We also still have 80.575 BTC of outstanding orders, so 33% of the portfolio is just BTC, and 31.81% of the portfolio is invested in companies that have either not paid a dividend yet, or pay monthly, so it was not included in this dividend.
Wow. Not bad at all. I expected less on the first payment. Good job!
get that rest of the capital workin then :-D
wouldnt it be more practical to just "forward" the dividens as they roll in sans the fees?
that
We also still have 80.575 BTC of outstanding orders, so 33% of the portfolio is just BTC, and 31.81% of the portfolio is invested in companies that have either not paid a dividend yet, or pay monthly, so it was not included in this dividend.
Wow. Not bad at all. I expected less on the first payment. Good job!
get that rest of the capital workin then :-D
wouldnt it be more practical to just "forward" the dividens as they roll in sans the fees?
that
We also still have 80.575 BTC of outstanding orders, so 33% of the portfolio is just BTC, and 31.81% of the portfolio is invested in companies that have either not paid a dividend yet, or pay monthly, so it was not included in this dividend.
Wow. Not bad at all. I expected less on the first payment. Good job!
get that rest of the capital workin then :-D
wouldnt it be more practical to just "forward" the dividens as they roll in sans the fees?
We also still have 80.575 BTC of outstanding orders, so 33% of the portfolio is just BTC, and 31.81% of the portfolio is invested in companies that have either not paid a dividend yet, or pay monthly, so it was not included in this dividend.
Wow. Not bad at all. I expected less on the first payment. Good job!
The first dividend of 1.45477224 BTC Dividend Paid - 0.00145477 BTC Per Share
The Breakdown -
0.80587224 BTC - Dividend Gain (90% of all dividend earnings)
0.6489 BTC - Realized Gains (90% of all Share Trading earnings)
Total Dividend Payout - 1.45477224 BTC
Reinvested - 0.08082068 BTC
Fee Taken - 0.08082068 BTC
We also still have 80.575 BTC of outstanding orders, so 33% of the portfolio is just BTC, and 31.81% of the portfolio is invested in companies that have either not paid a dividend yet, or pay monthly, so it was not included in this dividend.
Overall each share got a 0.00145477 BTC dividend with only 35.19% of the investment working for them, and future dividends should be higher.
Also with any holdings that pay a monthly dividend, that dividend will be split between each weekly payment we payout for that month.
The Breakdown -
0.80587224 BTC - Dividend Gain (90% of all dividend earnings)
0.6489 BTC - Realized Gains (90% of all Share Trading earnings)
Total Dividend Payout - 1.45477224 BTC
Reinvested - 0.08082068 BTC
Fee Taken - 0.08082068 BTC
We also still have 80.575 BTC of outstanding orders, so 33% of the portfolio is just BTC, and 31.81% of the portfolio is invested in companies that have either not paid a dividend yet, or pay monthly, so it was not included in this dividend.
Overall each share got a 0.00145477 BTC dividend with only 35.19% of the investment working for them, and future dividends should be higher.
Also with any holdings that pay a monthly dividend, that dividend will be split between each weekly payment we payout for that month.
I can confirm the above, On 21/03/2012-15:21 (GLBSE timestamp) I received 0.00145478 per share... Not bad, not bad at all!
Guys and Ladies (Goat): https://bitcointalksearch.org/topic/glbse-metf-the-first-mining-etf-listed-on-the-glbse-67275
Educate yourselves.
Educate yourselves.
So when should we expect our first dividends then?
okay, so I bought me a few.
Let's see how this goes :-D
Let's see how this goes :-D
I'm just after getting back from London(gone since Tuesday), charts.glbse.com is not showing any updates since the 12th.
For the moment, all the latest trades for GLBSE can be found on it's twitter feed here.
I'm contacting the operator of charts to find out what the story is.
Nefario
For the moment, all the latest trades for GLBSE can be found on it's twitter feed here.
I'm contacting the operator of charts to find out what the story is.
Nefario
Overall your missing profit is only 5% per share. The other 5% actually increases your share value.
Let me confirm that it's a lot of work to keep track of even only a couple of stock in a very crappy way (as I did).
So as I said earlier, 5% for the much more advanced level JL is doing this at for us is a bargain.
I agree that this is a totally reasonable arrangement and am excited for the opportunity. Especially with the simple yet solid growth plan.
Overall your missing profit is only 5% per share. The other 5% actually increases your share value.
Let me confirm that it's a lot of work to keep track of even only a couple of stock in a very crappy way (as I did).
So as I said earlier, 5% for the much more advanced level JL is doing this at for us is a bargain.
hi,
still interested in investing.
however, there needs to be some more transparancy.
current holdings?
dividend history?
lowering of fees to be expected?
still interested in investing.
however, there needs to be some more transparancy.
current holdings?
dividend history?
lowering of fees to be expected?
I agree. If you think about it, the network mines enough blocks to pay for this whole IPO in less than a hour.
the already not very big overall demand in stocks on the glbse moved to bitcoin syndicate ant M.ETF, leaving empty bids for tygrr and other stocks. overall demand has to grow. either ppl invest more into bitcoin mining corporations, or there have to be more people investing. there is just too much demand in capital for so many on glbse listed companies. the capital supply can't finance all companies as desired right now, or am i wrong?
I think you are wrong, I have a completely different impression.
All stocks I watch (MergedMining, FPGA.contract, BitcoinTorrentz, JLP-BMD) have been trading at higher prices compared to 4 weeks ago and also compared to 1 week ago. I've been selling contracts for roughly BTC 120 in the process.
I'd say demand has grown considerably.
I'm in this boat.
The ones that are down, are so because they are not performing well enough compared to other things potential investors could be into. And M.ETF would have pulled a very small portion of the overall BTC moving out of other ventures on GLBSE. This IPO only raised 250BTC to start with.
the already not very big overall demand in stocks on the glbse moved to bitcoin syndicate ant M.ETF, leaving empty bids for tygrr and other stocks. overall demand has to grow. either ppl invest more into bitcoin mining corporations, or there have to be more people investing. there is just too much demand in capital for so many on glbse listed companies. the capital supply can't finance all companies as desired right now, or am i wrong?
I think you are wrong, I have a completely different impression.
All stocks I watch (MergedMining, FPGA.contract, BitcoinTorrentz, JLP-BMD) have been trading at higher prices compared to 4 weeks ago and also compared to 1 week ago. I've been selling contracts for roughly BTC 120 in the process.
I'd say demand has grown considerably.
I've read that conversation but many might not be familiar with that and 'goat's' opinion. he wants strong and valuable stock, it's just harder to keep the price stable
I thought you might've, but posted the link just in case. However, that thread might be a better place to continue the conversation than this one. 
maybe if your stock was 1:20 cheaper the price would not drop occasionally by 25% and could absorb supply easier
just my rookie observation and sticky idea that whoever sold at 2, 2.40 and prices like that could not wait for an ask around 2.80-3 to be filled. whenever will people 'sell out' they can drag the price through basement.
https://bitcointalk.org/index.php?topic=52081.msg720285;topicseen#msg720285just my rookie observation and sticky idea that whoever sold at 2, 2.40 and prices like that could not wait for an ask around 2.80-3 to be filled. whenever will people 'sell out' they can drag the price through basement.
I've read that conversation but many might not be familiar with that and 'goat's' opinion. he wants strong and valuable stock, it's just harder to keep the price stable
maybe if your stock was 1:20 cheaper the price would not drop occasionally by 25% and could absorb supply easier
just my rookie observation and sticky idea that whoever sold at 2, 2.40 and prices like that could not wait for an ask around 2.80-3 to be filled. whenever will people 'sell out' they can drag the price through basement.
https://bitcointalk.org/index.php?topic=52081.msg720285;topicseen#msg720285 just my rookie observation and sticky idea that whoever sold at 2, 2.40 and prices like that could not wait for an ask around 2.80-3 to be filled. whenever will people 'sell out' they can drag the price through basement.
> people who bought the IPO wanting to sell out
maybe if your stock was 1:20 cheaper the price would not drop occasionally by 25% and could absorb supply easier
just my rookie observation and sticky idea that whoever sold at 2, 2.40 and prices like that could not wait for an ask around 2.80-3 to be filled. whenever will people 'sell out' they can drag the price through basement.
maybe if your stock was 1:20 cheaper the price would not drop occasionally by 25% and could absorb supply easier
just my rookie observation and sticky idea that whoever sold at 2, 2.40 and prices like that could not wait for an ask around 2.80-3 to be filled. whenever will people 'sell out' they can drag the price through basement.
@gewure I'd say you're right. 1700 btc went to BTCSYN, 500 btc went to TyGrr-bank, M.ETF collected capital and this might have caused sell off of other stock at glbse. spread is high for some stock and/or the bids very low compared to usual prices (avg or IPO). i think this means that liquidity is bad. and RSM did not yet finished IPO while the shares started trading at loss (but that asset has issues on its own). I agree that glbse could use more capital but on the other hand, it's interesting to observe as is. I came for the experience and (self)education it provides and I learn a lot. If things would be perfect, I might loose less money but also learn less : )
p.s. I've found out that second life capital exchange exists as well, is 4 years older than glbse and we can learn from them as well.
p.s. I've found out that second life capital exchange exists as well, is 4 years older than glbse and we can learn from them as well.
the already not very big overall demand in stocks on the glbse moved to bitcoin syndicate ant M.ETF, leaving empty bids for tygrr and other stocks. overall demand has to grow. either ppl invest more into bitcoin mining corporations, or there have to be more people investing. there is just too much demand in capital for so many on glbse listed companies. the capital supply can't finance all companies as desired right now, or am i wrong?
Quote
how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own (ie the NAV and the constituents of the ETF should be disclosed once each day at noo CST or whatever).
the NAV should be the middle of the spread.
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
already happened to tygrr-tech. glbse markets have to grow!!
exactly what happened do tygrrr?
Quote
how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own (ie the NAV and the constituents of the ETF should be disclosed once each day at noo CST or whatever).
the NAV should be the middle of the spread.
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
already happened to tygrr-tech. glbse markets have to grow!!
Interested and following
wrote something on the issue of ETFs, please read:
https://bitcointalksearch.org/topic/a-guide-to-glbse-etfs-68365
https://bitcointalksearch.org/topic/a-guide-to-glbse-etfs-68365
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own
...
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
...
My profession is highly regulated and prohibits me from issuing and/or professionally trading shares (or the like) outside of the regulations.
...
I'd beVERY VERY pleased, willing and able, however, to advise and comment.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own
...
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
...
My profession is highly regulated and prohibits me from issuing and/or professionally trading shares (or the like) outside of the regulations.
...
I'd beVERY VERY pleased, willing and able, however, to advise and comment.
I'd love to witness a "3-ring binder" on how to manage etf on glbse.
following it would be of course just a recommendation but at least all parties would use the same terms with the same meaning and they would report their actions in a standardized and homogenous way.
best practices for etf mgmt would be a really valuable tool.
at least with the possible arrival of smart money to glbse, that it won't play against a rookie fund
or to signal bright enough that by certain standard criteria the market is not etf ready/friendly (bad liquidity, irrational behavior, etc)
my first question is when to publish portfolio? if in real time or delayed and/or to announce also goals & plans for future investment.
and second question what are the basic terms to get familiar with (nav, p.ex.)
Quote
i am a full time ETF trader, so please contact me if you have questions :-D
This is what I like most about bitcoins, we have enough expertise here to start a central bank for some poor african nation.In a sense we (satoshi) already started "the peoples' central bank", no?
Quote
how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own (ie the NAV and the constituents of the ETF should be disclosed once each day at noo CST or whatever).
the NAV should be the middle of the spread.
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
It sure sounds to me like you'd be someone who could run an ETF to high standards... have you considered that?
I am a stockbroker by profession.
My profession is highly regulated and prohibits me from issuing and/or professionally trading shares (or the like) outside of the regulations.
Although GLBSE could be argued to be a hobby rather than a serious exchange, I am not gonna put my lawyer and my company (I am employed by a brokerdealer/marketmaker/specialist) through the process of securing my status for a couple of BTC.
I had to jump through enough hoops and sign a 4 page contract when I started up bitcoincommodities.com and it was made VERY clear that any trading in non-physical entities would be strictly forbidden.
I'd beVERY VERY pleased, willing and able, however, to advise and comment.
Quote
i am a full time ETF trader, so please contact me if you have questions :-D
This is what I like most about bitcoins, we have enough expertise here to start a central bank for some poor african nation. Quote
how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own (ie the NAV and the constituents of the ETF should be disclosed once each day at noo CST or whatever).
the NAV should be the middle of the spread.
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
It sure sounds to me like you'd be someone who could run an ETF to high standards... have you considered that?
Quote
how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
if liquidity is bad, an ETF is equally bad.
since you're both issuer AND market maker here, calculating the price is REALLY easy.
bid and ask price of the ETF should reflect that.
it should also reflect that if I buy 1 M.ETF at whatever price, I should exactly know what I own (ie the NAV and the constituents of the ETF should be disclosed once each day at noo CST or whatever).
the NAV should be the middle of the spread.
so if I buy 1 M.ETF @ 2BTC, you should immediately put x% of that into asset A, y% into asset B etc etc.
if you cannot, you should always be ahead of the market so that only 80% or so of the ETF are in circulation.
I wouldnt want me buying 100BTC worth of M.ETF disrupting the market of some poor mining stock because there's not enough on the ask side.
i am a full time ETF trader, so please contact me if you have questions :-D
Does the fund limit asset holdings to a fixed maximum of that assets issues (e.g. 33% of any asset)
Does the fund limit holding of all assets to a fixed maximum of the market?
Also how do we/you vote for motions on assets that the fund holds?
marked
will you set up a website to disclose the portfolio details of the ETF?
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how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
I'm not sure the liquidity is sufficient for a price determined by a bot to be meaningful enough.
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how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
Kind of curious myself.
some quick remarks and questions:
- 5% fee and 5% "profit fee" is really steep. almost prohibitively so.
- an ETF should never "issue more shares", it should "create" shares, issuing endlessly. just make sure you buy stuff with the BTC.
- any managed fund is not really an "ETF", it's just an investmend fund. seeing my point above - if you were able to keep the balance between holdings, you should be able to create an infinite amount of shares as long as there are companies traded on GLBSE.
- how about making two issues - one paying out dividends, the other one retaining / reinvesting the dividends of the constituents?
- how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
- 5% fee and 5% "profit fee" is really steep. almost prohibitively so.
- an ETF should never "issue more shares", it should "create" shares, issuing endlessly. just make sure you buy stuff with the BTC.
- any managed fund is not really an "ETF", it's just an investmend fund. seeing my point above - if you were able to keep the balance between holdings, you should be able to create an infinite amount of shares as long as there are companies traded on GLBSE.
- how about making two issues - one paying out dividends, the other one retaining / reinvesting the dividends of the constituents?
- how do you calculate the NAV of the ETF? is there a pricing bot in the background monitoring prices? this also relates to the question of creating more "shares" - if you were to always determine the correct price of the ETF, you should ALWAYS be able to issue more shares without decreasing current investors' profits.
It's part of our push to stamp out fraud on GLBSE. Asset issuers won't be REQUIRED (i.e. it's not compulsory) but our rating system will mark that asset as very risky. Anyone that invests and loses as a result would have only themselves to blame.
Nefario.
Nefario.
As part of the push for GLBSE 2.0 I have contacted JL421 and asked for various proof of identification.
Hi identity has been verified to me by means of photo ID, proof of address, phone number, and facebook.
JL421 is now GLBSE verified.
Nefario
Hi identity has been verified to me by means of photo ID, proof of address, phone number, and facebook.
JL421 is now GLBSE verified.
Nefario
Not that I had any doubts before
This is good news to hear though.
As part of the push for GLBSE 2.0 I have contacted JL421 and asked for various proof of identification.
Hi identity has been verified to me by means of photo ID, proof of address, phone number, and facebook.
JL421 is now GLBSE verified.
Nefario
Hi identity has been verified to me by means of photo ID, proof of address, phone number, and facebook.
JL421 is now GLBSE verified.
Nefario
may I suggest to pay dividends on mondays (if you're going for weekly). given that most of the underlying companies have their payday on sunday, that might make sense?
Monday or even aim for Tuesdays to account for the occasional late paying divis. And to give this fund time to calculate any earnings.
may I suggest to pay dividends on mondays (if you're going for weekly). given that most of the underlying companies have their payday on sunday, that might make sense?
Any timeline on when you will buy assets?
Already started buying.
rock on. I know we're trying not to 'rock the boat' on the market.
cheers for the quick response, m8
Any timeline on when you will buy assets?
i bought 1,5% of this ETF
I've seen 2 ETFs, great!
Could you always issue new ETF shares if the secondary market price is higher than the price you paid for each ETF shares? This will balance the market.
congrats on a fast IPO.
I hold shares in 5 mining companies (apparently sold some due to heavy buying going on) and it's a little tedious to track them all. Thanks for doing this, JL421, makes things a lot easier for only 5% of the profits. A bargain I'd say.
I hold shares in 5 mining companies (apparently sold some due to heavy buying going on) and it's a little tedious to track them all. Thanks for doing this, JL421, makes things a lot easier for only 5% of the profits. A bargain I'd say.
You are likely going to find that at this price and number of shares we will need more very soon.
I observed some price pressure whenever more bitcoin entered glbse.
I'm worried that a fast growing operations like this (meta mining) would drive up prices.
even with announced growth we can see some pressure on the price.
Watching and very excited. Keep up the good work JL421
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Please clarify that as the operator you will NEVER issue more shares without first receiving a shareholder request to put to a motion.
As long as he sticks to the "market price or larger than previous" there's not likely going to be dilution going on anyway.Good point.
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Please clarify that as the operator you will NEVER issue more shares without first receiving a shareholder request to put to a motion.
As long as he sticks to the "market price or larger than previous" there's not likely going to be dilution going on anyway.
2 Questions:
1) Will the fund require a shareholder vote to issue more shares?
2) Will future issued shares be made at a premium, or will they be listed for sale at 0.25 BTC?
1) Will the fund require a shareholder vote to issue more shares?
2) Will future issued shares be made at a premium, or will they be listed for sale at 0.25 BTC?
Happy to report I own about 15% of this fund. ;p
You are likely going to find that at this price and number of shares we will need more very soon.
cheers
You are likely going to find that at this price and number of shares we will need more very soon.
cheers
I'm in for some shares
General holding information will be available upon request, but exact amounts of shares held will not be available for any company other then JLP-BMD.
I would be interested in buying shares if the current holdings were listed on this thread and updated with each dividend payment. Listing average price paid and current gain/loss % would be icing on the cake. A 5% cut of revenue is pretty high, give us some transparency.
Portfolio -
Ticker | Shares Held | Avg PPS | Price | Gain
JLP-BMD | 100 | 0.189 | 0.19489 | 3.12%
MergedMining | 100 | 0.15 | 0.16 | 6.67%
Will the ETF's holdings be made public on this thread?
I'am always looking for a good investment but i really need more information on this ETF. What can we expect?
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