Topic: [Havelock] Bitcoin Difficulty Derivative (BDD) - page 76. (Read 290029 times)

Period 4, Day 5 Report - March 5, 2014

Balance Post Divs: BTC 466.81417119

Total Units: 3644

NAV/U: BTC 0.12810487


One unit was purchased at 1158AM, so it was bought back after Noon for its dividend amount that it missed.

32% measured right now, still nearly ten days to go. Thanks for the early statement

Thanks for that information! I didnt know at all.
One of the reason why I joined this BDD was to understand how it works more - and I have to say its fascinating how everything balances itself so well.

Period 4, Day 4 Report - March 4, 2014

Balance Post Divs: BTC 465.63577581

Total Units: 3617

NAV/U: BTC 0.12873535


At the moment, Difficulty is on track to increase about 1%, though there could still be a significant change in network hashrate before the next DI.

I think this is a good time to remind everyone (or make aware to those that haven't done the math) that the Difficulty needs to increase around 6.5% in order for there to be a SELL dividend issued. I say 'around' since it will be somewhat less if there are significant sales of EXCH, which increase the NAV/U.

This is because the Period is started with 200 Days of Dividends and .5% is paid out each day in dividends to MINE (1 Day / 200 Days = .5%). So, at the end of a 10-Day Period, there are only 190 days of dividends remaining at that ending Period's Difficulty.

If there is a Difficulty increase of greater than about 6.5%, then the necessary Reserve of 200 day of dividends has decreased enough to make this a non-issue. If the Difficulty has increased at less than that approximate rate (or stayed the same, or decreased), then the required Reserve is higher than the actual Reserve and there will be no SELL dividend.

TL;DR It's possible that there could be a Difficulty Increase, but no dividends will be issued to SELL for that Period due to the paid Dividends outstripping the decrease brought on by the small Difficulty Increase. But you really should be reading the whole explanation.

Period 4, Day 3 Report - March 3, 2014

Balance Post Divs: BTC 464.43958770

Total Units: 3590

NAV/U: BTC 0.12937035

Period 4, Day 2 Report - March 2, 2014

Balance Post Divs: BTC 462.03235520

Total Units: 3554

NAV/U: BTC 0.13000347

Period 4, Day 1 Report - March 1, 2014

Balance Post Divs: BTC 459.46881553

Total Units: 3517

NAV/U: BTC 0.13064225

I saw that - everyone looking to sell their shares post-dividend needs to wait until they get the dividend email or they see it posted in their account.

Clearly, there's a time delay between Noon and when the dividends are paid - hopefully it can be reduced in the future but, for now, that is the only way to make sure you've got your dividends.

I guess the one who sold into the B.SELL bids at 7 minutes after noon... failed 

Havelock was able to manually push the dividends out - I'll be seeing what we can do in the future to keep that issue from arising.

Period 4, Day 0 Report - February 28, 2014

Balance Post Divs: BTC 409.41599442

Total Units: 3122

NAV/U: BTC 0.13113901


As you can see, I'm now going to start the first day of the Period at Day 0 instead of Day 1, since this is the inception of the period and there cannot have been any sales of EXCH yet.

Ive got it now. Thanks for that last post of yours!

Hi Inspire - yes, the dividend is paid directly into your Havelock account. You also receive an email when that happens - for some reason, the dividend didn't post today like it was supposed to at Noon - will update here with news.

For some reason the dividend hasn't gone out at Noon like it was supposed to for MINE and SELL - awaiting a call back from Havelock and will update ASAP.

Hi twentyseventy,

Does the dividend get paid into our account? So even though its scheduled for payment, you have to wait for it to go into your account before you want to release the share?

Thanks.

Period 3 End Report - February 28, 2014


Previous Units              1921
EXCH Sold                   1201
Less Buybacks              0
New Total Units            3122

Previous Balance          308.69318805
Price per EXCH             0.16230094
Gross Sales of EXCH      194.92342894

Less Fees                    0.77969346
Less Dividends              22.25852941
Less Buybacks              0
Net Balance                  480.57839412


End of Period 3 NAV/U     0.15393286

New Difficulty               3,815,723,799
New Daily Dividend      0.00065899
New Reserve                0.13179800

NAV/U Less New Reserve = .1539286 - .13179800 = .02213486

SELL Dividend                 0.02213486

You'll notice that I calculate the new Dividend to eight digits and multiply that times 200 Days to get the new Reserve. Those of you that did your own calculations may come up with a slightly different number if you chose not to round or to round elsewhere.

New EXCH Sales Price          0.13311598


MINE and SELL Dividends will be paid at Noon, like normal, I just have the report done early since there weren't any last minute EXCH sales before the 11AM cutoff.

The new management fee has not yet been instituted. I'm hoping that Havelock will have the AutoExchange function up soon so that it can be tested and, after that, I'll be looking to put it into effect.

Period 3, Day 11 Report - February 27, 2014

Balance Post Divs: BTC 477.02205590

Total Units: 3100

NAV/U: BTC 0.15387808


Please be sure to read the latest update and feel free to provide feedback here on the thread or directly to me at [email protected]

Period 3, Day 10 Report - February 26, 2014

Balance Post Divs: BTC 460.59955970

Total Units: 2983

NAV/U: BTC 0.15440816


Please be sure to read the latest update and feel free to provide feedback here on the thread or directly to me at [email protected]

Thanks for saying so, I appreciate it. I think we've all been shareholders in more than a few funds with less-than-stellar communication, so I always pledged that I wouldn't succumb to that if/when I became a fund manager/issuer.

That's actually a good point that you bring up. If the 2% management fee is instituted, I will not ask for any higher management fees or additional fees to be paid to me as the Issuer for this Round.

The Round is defined as the time from the first shares of EXCH being sold until the End-Game via Decrease or Increase - basically for the next 6/9/12/etc. months that BDD runs for (until the funds are totally paid out). We're currently in Day 10 of Period 3 of Round 1 (in case anyone was wondering!).

I'm still reserving the right to possibly change the management fee for the next Round, but not necessarily planning to. At that point there will be a brand new contract for prospective speculators to review prior to the Round beginning instead of a mid-stream change like this.

I am happy with the increased fee. My only concern would be, if its this simple to change the fee up, what is stopping you to do so again in the near future.
In saying that,  you have done a fantastic job thus far, making it worth the extra premium.

Period 3, Day 9 Report - February 25, 2014

Balance Post Divs: BTC 444.56801273

Total Units: 2869

NAV/U: BTC 0.15495573


Those EXCH that were purchased between 1155 and 1200 were bought-back for their respective MINE dividends that they missed.

Please be sure to read the latest update and feel free to provide feedback here on the thread or directly to me at [email protected]