Realtime


Trading has been permanently frozen for the site wind down.

DMS.PURCHASE  operated by DeprivedMining since Jun, 6 2013  

Outstanding Last 24h 24h Avg 24h 24h Vol 7d 7d Avg 7d 30d 30d Avg 30d Tot Vol Mkt Cap Score
10479 1@0.00542 -- -- -- -- -- -- -- 0.0035 0.00613 0.006763 6,797 0 1    (1/0)



Outstanding Last 24h 24h Avg 24h 24h Vol 7d 7d Avg 7d 30d 30d Avg 30d Tot Vol Mkt Cap Score
10479 1@0.00542 -- -- -- -- -- -- -- 0.0035 0.00613 0.006763 6,797 0 1    (1/0)

CALL Options Available For Purchase
(an option to purchase shares)
Option ID Expiration Qty Strike Premium/ea Cost/ea
None available...

PUT Options Available For Purchase
(an option to sell shares)
Option ID Expiration Qty Strike Premium/ea Proceeds/ea
None available...


Trade History
Date Type Quantity Price Total
2013-10-08 01:07:22 Market Buy 1 ฿ 0.00542 ฿ 0.00542
2013-10-08 01:02:47 Market Buy 2 ฿ 0.00542 ฿ 0.01084
2013-10-08 01:00:29 Market Buy 1 ฿ 0.00542 ฿ 0.00542
2013-10-08 00:57:49 Market Buy 3 ฿ 0.00542 ฿ 0.01626
2013-10-08 00:54:36 Market Buy 1 ฿ 0.00542 ฿ 0.00542
2013-10-08 00:47:15 Market Buy 1 ฿ 0.00542 ฿ 0.00542
2013-10-07 18:20:17 Market Sell 5 ฿ 0.0035 ฿ 0.0175
2013-10-07 09:57:48 Market Sell 3 ฿ 0.006211 ฿ 0.018633
2013-10-07 07:40:14 Market Sell 31 ฿ 0.006211 ฿ 0.192541
2013-10-06 23:39:10 Market Buy 81 ฿ 0.006212 ฿ 0.503172
2013-10-06 19:20:24 Market Sell 12 ฿ 0.006212 ฿ 0.074544
2013-10-06 15:17:13 Market Sell 1 ฿ 0.006211 ฿ 0.006211
2013-10-06 15:16:48 Market Sell 5 ฿ 0.006212 ฿ 0.03106
2013-10-06 05:35:00 Market Buy 13 ฿ 0.006212 ฿ 0.080756
2013-10-06 05:06:47 Market Buy 1 ฿ 0.006212 ฿ 0.006212
2013-10-05 21:58:10 Market Sell 26 ฿ 0.006212 ฿ 0.161512
2013-10-05 07:25:47 Market Buy 1 ฿ 0.006763 ฿ 0.006763
2013-10-05 02:52:39 Market Sell 200 ฿ 0.00621 ฿ 1.242
2013-10-04 23:18:19 Market Buy 21 ฿ 0.006763 ฿ 0.142023
2013-10-04 18:57:48 Market Sell 14 ฿ 0.00611 ฿ 0.08554


Dividend History
Date Total BTC Shares BTC/Share Status
2013-10-27 16:00 ฿ 0.47165979 10479 0.00004501 COMPLETE
2013-10-27 15:45 ฿ 11.50573242 10479 0.00109798 COMPLETE
2013-10-27 15:35 ฿ 0.06737997 10479 0.00000643 COMPLETE
2013-10-26 17:00 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-25 17:00 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-24 17:00 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-23 17:00 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-22 17:00 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-21 17:00 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-20 16:40 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-19 17:01 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-18 17:00 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-17 17:01 ฿ 15.09028395 10479 0.00144005 COMPLETE
2013-10-17 17:00 ฿ 0.09839781 10479 0.00000939 COMPLETE
2013-10-16 16:25 ฿ 0.13916112 10479 0.00001328 COMPLETE
2013-10-15 17:10 ฿ 0.13916112 10479 0.00001328 COMPLETE
2013-10-14 17:01 ฿ 0.13916112 10479 0.00001328 COMPLETE
2013-10-13 17:01 ฿ 0.13916112 10479 0.00001328 COMPLETE
2013-10-12 17:01 ฿ 0.13916112 10479 0.00001328 COMPLETE
2013-10-11 17:01 ฿ 0.13916112 10479 0.00001328 COMPLETE
2013-10-10 17:00 ฿ 0.13916112 10479 0.00001328 COMPLETE
2013-10-10 16:05 ฿ 0.13916112 10479 0.00001328 COMPLETE
2013-10-10 15:55 ฿ 0.13916112 10479 0.00001328 COMPLETE
2013-10-08 17:00 ฿ 0.13916112 10479 0.00001328 FAILED
2013-10-07 17:05 ฿ 13.30293575 10475 0.00126997 COMPLETE
2013-10-07 17:00 ฿ 0.13910800 10475 0.00001328 COMPLETE
2013-10-06 17:00 ฿ 0.17917380 10602 0.00001690 COMPLETE
2013-10-05 17:00 ฿ 0.18042440 10676 0.00001690 COMPLETE
2013-10-04 17:47 ฿ 0.18402410 10889 0.00001690 COMPLETE
2013-10-04 17:47 ฿ 0.18402410 10889 0.00001690 COMPLETE
2013-10-03 17:00 ฿ 0.17709510 10479 0.00001690 CANCELED
2013-10-02 17:01 ฿ 0.24330930 14397 0.00001690 COMPLETE
2013-10-01 17:01 ฿ 0.24330930 14397 0.00001690 COMPLETE
2013-09-30 21:45 ฿ 0.24330930 14397 0.00001690 COMPLETE
2013-09-29 17:02 ฿ 0.24330930 14397 0.00001690 COMPLETE
2013-09-28 17:25 ฿ 0.24330930 14397 0.00001690 COMPLETE
2013-09-27 17:01 ฿ 0.24330930 14397 0.00001690 COMPLETE
2013-09-26 18:46 ฿ 26.15143065 14397 0.00181645 COMPLETE
2013-09-26 18:45 ฿ 0.24330930 14397 0.00001690 COMPLETE
2013-09-25 17:01 ฿ 0.32148501 14397 0.00002233 COMPLETE
2013-09-24 17:02 ฿ 0.32148501 14397 0.00002233 COMPLETE
2013-09-23 17:07 ฿ 0.32148501 14397 0.00002233 COMPLETE
2013-09-22 17:02 ฿ 0.32097142 14374 0.00002233 COMPLETE
2013-09-21 17:02 ฿ 0.31969861 14317 0.00002233 COMPLETE
2013-09-20 17:02 ฿ 0.31563455 14135 0.00002233 COMPLETE
2013-09-19 17:01 ฿ 0.28725312 12864 0.00002233 COMPLETE
2013-09-18 17:02 ฿ 0.24743873 11081 0.00002233 COMPLETE
2013-09-17 17:01 ฿ 0.23600577 10569 0.00002233 COMPLETE
2013-09-16 17:00 ฿ 0.23252229 10413 0.00002233 COMPLETE
2013-09-15 17:10 ฿ 24.62500862 10198 0.00241469 COMPLETE
2013-09-15 17:02 ฿ 0.29492616 10198 0.00002892 COMPLETE
2013-09-14 17:00 ฿ 0.30305268 10479 0.00002892 CANCELED
2013-09-14 16:06 ฿ 0.29507076 10203 0.00002892 COMPLETE
2013-09-13 17:02 ฿ 0.28766724 9947 0.00002892 COMPLETE
2013-09-12 17:02 ฿ 0.28162296 9738 0.00002892 COMPLETE
2013-09-11 17:02 ฿ 0.25955700 8975 0.00002892 COMPLETE
2013-09-10 17:02 ฿ 0.25004232 8646 0.00002892 COMPLETE
2013-09-09 17:02 ฿ 0.25027368 8654 0.00002892 COMPLETE
2013-09-08 17:01 ฿ 0.25059180 8665 0.00002892 COMPLETE
2013-09-07 17:01 ฿ 0.24761304 8562 0.00002892 COMPLETE
2013-09-06 17:01 ฿ 0.26823300 9275 0.00002892 COMPLETE
2013-09-05 17:10 ฿ 35.36046257 10433 0.00338929 COMPLETE
2013-09-05 17:01 ฿ 0.30172236 10433 0.00002892 COMPLETE
2013-09-04 17:05 ฿ 0.39658704 10371 0.00003824 COMPLETE
2013-09-04 17:03 ฿ 0.40071696 10479 0.00003824 CANCELED
2013-09-03 17:01 ฿ 0.36209456 9469 0.00003824 COMPLETE
2013-09-02 17:02 ฿ 0.38140576 9974 0.00003824 COMPLETE
2013-09-01 17:00 ฿ 0.36675984 9591 0.00003824 COMPLETE
2013-08-31 17:01 ฿ 0.36492432 9543 0.00003824 COMPLETE
2013-08-30 17:01 ฿ 0.32416048 8477 0.00003824 COMPLETE
2013-08-29 17:02 ฿ 0.32247792 8433 0.00003824 COMPLETE
2013-08-28 17:01 ฿ 0.25261344 6606 0.00003824 COMPLETE
2013-08-27 17:01 ฿ 0.24844528 6497 0.00003824 COMPLETE
2013-08-26 17:01 ฿ 0.26588272 6953 0.00003824 COMPLETE
2013-08-25 17:10 ฿ 23.33543936 5582 0.00418048 COMPLETE
2013-08-25 17:00 ฿ 0.21345568 5582 0.00003824 COMPLETE
2013-08-24 17:00 ฿ 0.37666839 7611 0.00004949 COMPLETE
2013-08-23 19:25 ฿ 0.51276589 10361 0.00004949 COMPLETE
2013-08-23 17:00 ฿ 0.51860571 10479 0.00004949 CANCELED
2013-08-22 17:00 ฿ 0.62100052 12548 0.00004949 COMPLETE
2013-08-21 17:02 ฿ 0.53048331 10719 0.00004949 COMPLETE
2013-08-20 17:00 ฿ 0.65178330 13170 0.00004949 COMPLETE
2013-08-19 17:00 ฿ 0.65153585 13165 0.00004949 COMPLETE
2013-08-18 17:00 ฿ 0.65178330 13170 0.00004949 COMPLETE
2013-08-17 17:06 ฿ 0.64074703 12947 0.00004949 COMPLETE
2013-08-16 17:00 ฿ 0.59006927 11923 0.00004949 COMPLETE
2013-08-15 17:01 ฿ 0.57002582 11518 0.00004949 COMPLETE
2013-08-14 17:10 ฿ 58.82483979 8557 0.00687447 COMPLETE
2013-08-14 17:00 ฿ 0.57545825 8557 0.00006725 COMPLETE
2013-08-13 17:00 ฿ 0.32804550 4878 0.00006725 COMPLETE
2013-08-12 17:12 ฿ 0.40793850 6066 0.00006725 COMPLETE
2013-08-11 17:01 ฿ 0.41721900 6204 0.00006725 COMPLETE
2013-08-10 17:09 ฿ 0.45682925 6793 0.00006725 COMPLETE
2013-08-09 17:01 ฿ 0.43894075 6527 0.00006725 COMPLETE
2013-08-08 17:03 ฿ 0.44855750 6670 0.00006725 COMPLETE
2013-08-07 17:09 ฿ 0.44701075 6647 0.00006725 COMPLETE
2013-08-06 17:01 ฿ 0.35965300 5348 0.00006725 COMPLETE
2013-08-05 17:09 ฿ 0.24075500 3580 0.00006725 COMPLETE
2013-08-04 17:05 ฿ 11.88226575 2235 0.00531645 COMPLETE
2013-08-04 17:01 ฿ 0.15030375 2235 0.00006725 COMPLETE
2013-08-03 17:07 ฿ 0.22003075 2735 0.00008045 COMPLETE
2013-08-02 17:05 ฿ 0.20611290 2562 0.00008045 COMPLETE
2013-08-01 17:01 ฿ 0.22027210 2738 0.00008045 COMPLETE
2013-07-31 17:06 ฿ 0.22027210 2738 0.00008045 COMPLETE
2013-07-30 17:06 ฿ 0.22027210 2738 0.00008045 COMPLETE
2013-07-29 17:28 ฿ 0.22027210 2738 0.00008045 COMPLETE
2013-07-28 17:07 ฿ 0.21568645 2681 0.00008045 COMPLETE
2013-07-27 17:03 ฿ 0.21568645 2681 0.00008045 COMPLETE
2013-07-26 17:19 ฿ 0.21568645 2681 0.00008045 COMPLETE
2013-07-25 17:04 ฿ 0.21568645 2681 0.00008045 COMPLETE
2013-07-24 17:15 ฿ 0.24593565 3057 0.00008045 COMPLETE
2013-07-23 17:11 ฿ 14.81833818 2797 0.00529794 COMPLETE
2013-07-23 17:04 ฿ 0.26881967 2797 0.00009611 COMPLETE
2013-07-22 17:17 ฿ 0.19020169 1979 0.00009611 COMPLETE
2013-07-21 17:03 ฿ 0.19817882 2062 0.00009611 COMPLETE
2013-07-20 20:41 ฿ 0.21355642 2222 0.00009611 COMPLETE
2013-07-19 17:02 ฿ 0.16723140 1740 0.00009611 COMPLETE
2013-07-18 17:07 ฿ 0.15050826 1566 0.00009611 COMPLETE
2013-07-17 18:06 ฿ 0.14714441 1531 0.00009611 COMPLETE
2013-07-16 17:07 ฿ 0.11331369 1179 0.00009611 COMPLETE
2013-07-15 17:09 ฿ 0.10187660 1060 0.00009611 COMPLETE
2013-07-14 17:06 ฿ 0.09649444 1004 0.00009611 COMPLETE
2013-07-13 17:03 ฿ 0.08207794 854 0.00009611 COMPLETE
2013-07-12 17:25 ฿ 5.02664364 634 0.00792846 COMPLETE
2013-07-12 17:15 ฿ 0.06093374 634 0.00009611 COMPLETE
2013-07-11 17:02 ฿ 0.07955550 675 0.00011786 COMPLETE
2013-07-10 17:01 ฿ 0.07319106 621 0.00011786 COMPLETE
2013-07-09 17:05 ฿ 0.07531254 639 0.00011786 COMPLETE
2013-07-08 17:05 ฿ 0.07507682 637 0.00011786 COMPLETE
2013-07-07 17:01 ฿ 0.06694448 568 0.00011786 COMPLETE
2013-07-06 17:02 ฿ 0.07519468 638 0.00011786 COMPLETE
2013-07-05 17:03 ฿ 0.04266532 362 0.00011786 COMPLETE
2013-07-04 17:00 ฿ 0.05079766 431 0.00011786 COMPLETE
2013-07-03 17:05 ฿ 0.04726186 401 0.00011786 COMPLETE
2013-07-02 17:02 ฿ 0.04384392 372 0.00011786 COMPLETE
2013-07-01 17:01 ฿ 0.03135076 266 0.00011786 COMPLETE
2013-06-30 17:05 ฿ 1.00003728 264 0.00378802 COMPLETE
2013-06-30 17:00 ฿ 0.03111504 264 0.00011786 COMPLETE
2013-06-29 17:03 ฿ 0.04784736 368 0.00013002 COMPLETE
2013-06-28 17:01 ฿ 0.04524696 348 0.00013002 COMPLETE
2013-06-27 17:00 ฿ 0.04433682 341 0.00013002 COMPLETE
2013-06-26 17:02 ฿ 0.04186644 322 0.00013002 COMPLETE
2013-06-25 17:00 ฿ 0.05499846 423 0.00013002 COMPLETE
2013-06-24 17:02 ฿ 0.05239806 403 0.00013002 COMPLETE
2013-06-23 17:00 ฿ 0.03640560 280 0.00013002 COMPLETE
2013-06-22 20:02 ฿ 0.04901754 377 0.00013002 COMPLETE
2013-06-21 17:09 ฿ 0.04563702 351 0.00013002 COMPLETE
2013-06-20 17:07 ฿ 0.04277658 329 0.00013002 COMPLETE
2013-06-19 17:05 ฿ 0.02743422 211 0.00013002 COMPLETE
2013-06-18 17:03 ฿ 0.02951454 227 0.00013002 COMPLETE
2013-06-17 17:11 ฿ 6.42626660 580 0.01107977 COMPLETE
2013-06-17 17:03 ฿ 0.09345540 580 0.00016113 COMPLETE
2013-06-16 17:03 ฿ 0.08894376 552 0.00016113 COMPLETE
2013-06-15 17:02 ฿ 0.03528747 219 0.00016113 COMPLETE
2013-06-14 17:02 ฿ 0.04833900 300 0.00016113 COMPLETE
2013-06-13 17:00 ฿ 0.05413968 336 0.00016113 COMPLETE
2013-06-12 17:04 ฿ 0.01450170 90 0.00016113 COMPLETE
2013-06-11 17:01 ฿ 0.02078577 129 0.00016113 COMPLETE



TRADING HALTED ON DMS.PURCHASE Posted: 7 years ago
TRADING HAS BEEN HALTED ON DMS.PURCHASE BY THE ISSUER.

Dividend Delay Posted: 7 years ago

Today's dividends for MINING and PURCHASE didn't run (I was getting xcoind errors at the time so no surprise there).  As they didn't fail (but remaimed queued) I'd have expected them to process later - but 10 hours+ later they still hadn't.

I cancelled them and submitted new dividends for immediate payment - but no sign of life on those either.  There's not much I can do about that (have reported it in the LTC-Global thread on the LTC forums) other than wait.

Exchanges of PURCHASE for MINING+SELLING and cashing in of MINING+SELLING are still working fine - I'll obviously pay out at the pre-dividend rate for those who send before dividends finally go through.


BTC forums compromised Posted: 7 years ago

The BTC Talk forums have been compromised - and will be down for a few days while they fix the problem.

In the meantime DMS will continue operating as normal in terms of dividends etc, but there won't be daily reports.

Redemption of shares is still possible - I'll lock the CIPHERMINE.B1 rate at what it was (so any multiple of 25 MINING+SELLING gets 4 of them and is optimal) but the cash portion will obviously drop each day by the size of that day's MINING dividend.

PURCHASE will be left unlocked so people can trade them into MINING+SELLING (either to sell one or to send both back for redemption).

I'll try to keep an eye on the transfer bot.

If you need to contact me urgently, best way is probably to PM me on the litecoin forums : https://forum.litecoin.net/index.php

I'll also try to check the email address listed on this account - but it gets heavily spammed so it's very easy for me to miss emails.


Quick Update Posted: 7 years ago

Hopefully most of you have been following things in our discussion thread:

https://bitcointalk.org/index.php?topic=228327.0

An option was offered allowing those who want to sell out to receive mostly cash + some shares of Ciphermine.B1.  What I didn't realise until yesterday was that locking PURCHASE had also blocked transfers - meaning holders of PURCHASE weren't able to take up that offer if they wanted to.

If anyone holding PURCHASE does want to sell back under the terms offered in the thread then let me know - either by posting in the thread or by PM - and I'll unlock PURCHASE.  Also let me know if you want to trade PURCHASE into MINING+SELLING.

In either case I'd unlock PURCHASE, place an ask (to stop people selling at ridiculously high prices) and then turn the transfer bot back on.  Those who wanted to trade for MINING+SELLING could then do so, and those who wanted to sell back could trade for MINING+SELLING then send the MINING+SELLING back to me.

My intention remains to do what investors have asked for - and continue relisted elsewhere.


DMS.PURCHASE Trading Halted Posted: 7 years ago

I've halted trading on this as the fund itself will not be issuing more now that it has been announced that BTC-TC is closing down.  I'm doing that right now to prevent people getting caught out by market orders placed with the wrong number of decimal places etc.

I MAY unlock it for trading in a day or two once everyone's had a chance to understand what the situation is.

SELLING and MINING are both open for trading as usual, and dividends will be paid out on all 3 securities exactly as normal.


TRADING HALTED ON DMS.PURCHASE Posted: 7 years ago
TRADING HAS BEEN HALTED ON DMS.PURCHASE BY THE ISSUER.

TRADING HALTED ON DMS.PURCHASE Posted: 7 years ago
TRADING HAS BEEN HALTED ON DMS.PURCHASE BY THE ISSUER.

TRADING HALTED ON DMS.PURCHASE Posted: 7 years ago
TRADING HAS BEEN HALTED ON DMS.PURCHASE BY THE ISSUER.

TRADING HALTED ON DMS.PURCHASE Posted: 7 years ago
TRADING HAS BEEN HALTED ON DMS.PURCHASE BY THE ISSUER.

TRADING HALTED ON DMS.PURCHASE Posted: 7 years ago
TRADING HAS BEEN HALTED ON DMS.PURCHASE BY THE ISSUER.

No motions yet
Contract & Prospectus
Ticker FUND: DMS.PURCHASE
Moderator Score 1  (1/0)
Moderator Votes YES 1 / 0 NO    (1 ABSTAINING -- Users with 10 or more shares of LTC-GLOBAL are allowed to vote.)
Shares Outstanding 10479 / 10000000 Issued
Issuer DeprivedMining <deprivedltcasset@hotmail.co.uk>
Forum https://bitcointalk.org/index.php?topic=228327.0
Issuer Detail

This fund is issued and managed by Deprived.

Deprived has managed the LTC-ATF asset on LTC-Global since September 2012.  A brief history of LTC-ATF should explain why Deprived has the ability and experience to manage a fund of this type.

LTC-ATF is a fund which trades (rather than invests) in crypto-currency denominated securities and related areas.  It is a growth fund (profits are retained increasing the value of units) rather than one which (usually) pays dividends.  At launch units were sold at 10 LTC each - with future sales at a small premium to NAV/U.

When GLBSE vanished a few weeks after the fund start, prospects didn't look good.  LTC-ATF was lucky enough to be one of those who received their BTC on deposit back - but during the time they had been locked in GLBSE LTC had risen sharply vs BTC.  This, along with some GLBSE assets having to be written off or marked down reduced the NAV/U of LTC-ATF to 7.636 (it was 10.56 when GLBSE closed).

Since then, LTC-ATF has steadily grown - even through the recent massive rise in price of LTC vs BTC (when most other securities on LTC-Global fell massively in price).

  • After LTC-ATF's funds were returned from GLBSE there were 462 units sold in the fund with a NAV/U of 7,636.
  • Now (6th June 2013) there are 285 units with a NAV/U of just over 55.  And those units have also received a dividend payment (to reduce surplus capital) of 20 LTC each.

The reduction is outstanding units is NOT from lack of demand - but from sales of new units having ceased long ago, with capital instead being raised by issuing fixed-rate bonds which are denominated in BTC but transacted in LTC.  250 BTC-worth of those have been sold (at present no more are being sold) allowing leveraging LTC-ATF's own capital as well as minimising the impact of exchange-rate moves (by having BTC-denominated liabilities to offset the majority of our BTC-denominated assets).  The majority of buying back of units occurred when LTC peaked vs BTC/USD (in the 50-60 LTC per unit area as it was before the special dividend).  Investors (including Deprived) cashed out capital that wasn't needed to profit when the obvious LTC bubble burst.

If the performance of LTC-ATF from start (26th Septmeber 2012) until last report date (9th June 2013) is examined then we find:

  • Value per unit (in LTC) has risen from 10.0 to 72.616 (this includes the 20 LTC special dividend paid out)
  • Value per unit (in BTC) has risen from 0.0346 to 1.5975 (including the 20 LTC special dividend converted at rate as of the report's date)
  • Value in USD has obviously risen from nearly nothing to quite a lot.

Those gains are not imaginary ones based on some fantasy means of valuing securities.  The vast majority of LTC-ATF's assets are ALWAYS cash - usually 85-95% cash (88.37% as of this instant). And the gains are not ones that investors can't realise.  LTC-ATF maintains a bid wall on its own units (for 100 units for a long time now - i.e. 35% of all outstanding units) at around 98% of NAV/U - though any investor wishing to sell would have no problem finding buyers at a premium to NAV/U (there is little market activity as noone wants to sell at any price near NAV/U).

The performance of LTC-ATF, the consistent reporting standards and the willingness (indeed eagerness) of Deprived to return unneeded funds to investors are the best possible qualifications to run a fund such as this.

Full details of LTC-ATF can be found :

In its listing on LTC-Global - https://www.litecoinglobal.com/security/LTC-ATF

In its thread on BTCtalk forums - https://bitcointalk.org/index.php?topic=112876.0

Contract

This security is one of three that together form Deprived Mining Speculation - a framework allowing investors to speculate on both sides of the "Perpetual Mining Bond" paradigm whilst also receiving modest growth on their invested capital.  These three securities collectively represent a fund - with shares in each security having different entitlements to portions of the assets of the fund.

The contract for all three securities is being posted in each of the three - they are so tightly interlocked that they need to share a single contract.  (Note to moderators - if you've read the contract for one of these three securities then you've read the contract for all three.  They're identical).

OVERVIEW OF SECURITIES

DMS.MINING - This largely mirrors in behaviour those securities known as Perpetual Mining Bonds.  That term is a misnomer - they are in general not perpetual and are never bonds (they have no face value and no plan for repaying capital).  Units in DMS.MINING will pay out as though they were PMBs - distributing via dividend payments calculated from a nominal hashing-power per unit.  If the fund as a whole closes then these receive a final payment first.  DMS.MININING will pay dividends similar to those paid on a 5 MH/S PMB.

DMS.SELLING - These units effectively underwrite the payments to DMS.MINING units.  They receive dividends if the projected value of backed DMS.MINING units falls significantly below actual capital.  They receive all remaining capital  in the event of fund closure.  Conceptually ownership of one of these allows you to SELL a MINING unit as you have provided the capital to back that unit.

DMS.PURCHASE - This security primarily exists as a means to provide an auditable distribution of units in the other two securities.  It can, however, be viewed as a low-risk and low-return investment opportunity itself.  One unit of DMS.PURCHASE is almost exactly equivalent to one unit each of DMS.MINING and DMS.SELLING - receiving payments whenever either of them does (the only minor difference is in voting rights).  The primary way in which units of DMS.MINING and DMS.SELLING are issued is in return for turning in (sending to issuer) a unit of DMS.PURCHASE.  This ensures that every MINING unit is backed by a SELLING unit.

At root this then becomes almost a zero-sum game.  Each sale of a PURCHASE unit adds some extra capital which will, eventually, be returned split in some fashion between the MINING and SELLING units represented by one PURCHASE unit.  An investor then has the option of selling one or both of the MINING and SELLING units - depending on their own evaluation of the likely profitability of both and the market prices.

An investor can also, in theory, hold either the PURCHASE unit or exchange for it a MINING and a SELLING unit and hold both of those.  Those two scenarios would both end up with the same result - that the investors would receive back 97% of their investment, less exchange fees, plus any earnings/growth made by use of the capital.

The ongoing price of PURCHASE units is tightly defined in this contract.  The price of MINING and SELLING units is left entirely to the market.  It would seem likely (but not inevitable) that the pirce of 1 MINING unit + 1 SELLING unit would be around the price of one PURCHASE unit.

There will always be exactly the same number of issued MINING and SELLING units (they are only ever released in pairs).

MANAGEMENT FEES

A management fee of 3% is taken from funds received from selling DMS.PURCHASE.

No other management fees are taken.

NAV/U AND PRICE OF DMS.PURCHASE

DMS.PURCHASE are the only element of this security group where the price is determined by formula or by the manager.  DMS.MINING and DMS.SELLING will trade at whatever price their owners want to sell at and the market will bear.

From launch (placement of first Asks by the Manager) until the first dividend is paid these (DMS.PURCHASE) will be sold at a fixed price determined by the manager based on current difficulty.  This price will be set at 405 days of DMS.MINING dividends at the current difficulty at that point.

From that point onwards the price will be amended whenever a dividend is paid (to any of the unit types) or the manager notices any significant change in the NAV of the fund.  The price will be calculated as follows:

1.  The total assets controlled by the fund will be calculated - this generates a NAV (Net Asset Value).

2. This will be divided by (PURCHASE outstanding + SELLING outstanding).  This is the NAV/U (Net Asset Value per Unit) of the overall fund and represents the current book value of one PURCHASE or (one SELLING + one MINING).

The new selling price of PURCHASE shall be 1.05 times the NAV/U calculated in step 2.  This ensures that after the 3% management fee is taken slightly more is left than the current NAV/U.  The small extra amount (under 2%) compensates existing investors for the dilution of their earnings from the fund's investments.

CONVERSION OF DMS.PURCHASE

It is anticipated that most purchasers of DMS.PURCHASE will want to convert these into a DMS.MINING and a DMS.SELLING and sell one or both of those units.  The initial procedure for doing this is simply to send your unit(s) of DMS.PURCHASE to the issuer (DeprivedMining).  As soon as the Manager notices this transfer he will transfer to the sending account the same number each of DMS.MINING and DMS.SELLING which can then be held or placed for sale on the market as desired.  Please be VERY careful to make sure you spell the account name correctly - if you send to the wrong person then this will NOT be reimbursed by the Manager or the fund.

It is recommended NOT to send them at around the time dividends are paid - as you risk the transfer occurring during dividend payment and leading to some hassle needed to manually pay whatever dividends you missed.

If activity on these security reaches a level which warrants it then this procedure may be amended or automated at Manager's discretion.

EXCHANGE FOR DMS.PURCHASE

If a potential investor holds loans or securities (that are white-listed for investment by this fund) and wishes to, then at Manager's discretion a swap may be made of DMS.PURCHASE for those loans or securities.  Such a swap must be made with DMS.PURCHASE valued at its current official selling price and the loans or securities valued at their face value (with any difference in either direction being settled in BTC).  If the investor indicates that he intends to exchange for DMS.MINING and DMS.SELLING then he may be provided with those and skip the intermediate step of being sent DMS.PURCHASE and then immediately returning them.

This avoids unnecessary hassle for all parties involved.

If such an exchange occurs then the Manager will be paid his management fee of 3% as though the units of DMS.PURCHASE had been bought through the market.  Any such exchange must be specifically reported by the Manager in the thread for this fund - though the identity of the investor need not be disclosed (unless it is the Manager in which case that must be disclosed).

DIVIDENDS FOR DMS.MINING

Dividends will be paid daily, targetted for payment at 16:00 GMT.  Manager may makes the payments a few hours early or late (scheduling is not an optimal option due to the need to ideally adjust downwards PURCHASE price at the same time).

The daily dividend paid is calculated as follows:

5,000,000 * Block Reward * 86400 * (65535/2^48)/Difficulty

5,000,000 being the notional 'Hashing Power' of one unit

Block Reward currently being 25 (BTC per block found)

86400 being the number of seconds in a day.

65535/2^48 being the constant that needs to be divided by difficulty to calculate the likelihood of generating a block in a single hash.

DIfficulty is the difficulty of mining BTC at the midnight prior to the dividend payment.

This calculation is the standard one used to calculate the average mining output of hash-power assuming no stales and no down-time.

The calculated dividend is paid out to each DMS.MINING (and also to any DMS.PURCHASE that are outstanding).

DIVIDENDS FOR DMS.SELLING

Whenever a DMS.MINING dividend is paid an assessment will be made of whether a DMS.SELLING dividend should also be paid.  This will be done as follows:

NAV/U post (DMS.MINING) dividend will be divided by the dividend just calculated for DMS.MINING.  This produces the number of days at current difficulty for which dividends could be paid from current capital.

If that number is greater than 410 then a dividend will be issued for DMS.SELLING (and any outstanding DMS.PURCHASE) such that it would reduce capital to exactly 400 days of dividends at current difficulty.  If the number is less than 410 then no dividend will be paid.

This serves to keep capital at around 1 year's dividends (the buy-back price) plus just over a month extra to allow for short-term variance in difficulty.

BUY-BACK TERMS

It is the intention of Manager that this fund should be a long-term prospect (the prices of all three securities will gradually fall) however an option must exist for a shut down.  In the event of shutdown then DMS.MINING (and any outstanding units of DMS.PURCHASE) would first receive a dividend equal to the LOWER of :

a) All funds held by the securities,

b) 365 times the daily dividended due at current difficulty.

The scenarios in which closure under these terms could happen are:

a) Manager proposes a shut down and this is approved by a vote of DMS.SELLING units AND is voted in favour of by a majority of voting units not held by the Manager.  It is envisaged that this scenario would happen if difficulty rose massively AND there was no further interest in purchase of more DMS.MINING bonds.

b) Capital falls such that it is too low to pay 100 days of DMS.MINING bonds for 2 successive difficulties (i.e. before AND after a difficulty change).  In that scenario it is apparent that all of the capital will go to DMS.MINING holders (and DMS.SELLING holders got it totally wrong) so closure and payment of all funds to them immediately is the only fair course of action.

Following payment of the dividend to DMS.MINING, any remaining funds are divdended to DMS.SELLING (and to any outstanding units of DMS.PURCHASE).

Manager may, at his discretion, choose to make final payments by means of a forced purchase rather than through dividends (incurring trading fees but freeing the tickers up for reuse).

INVESTMENT OF CAPITAL

Capital amounting to at least 50 days of DMS.MINING dividends at current difficulty must be held as BTC in the issuing account at all times.  The remainder of capital may be invested or loaned out. All such investments and loans must be very low risk - investment is NOT the primary purpose of these securiities but IS necessary to make holding DMS.SELLING worthwhile compared to other options.

Investments (including loans to other companies) must meet ALL of the following criteria:

  • They must be BTC denominated.
  • They must have a precise face value with guaranteed redemption at that face value (other than small administrative fees)
  • They must anticipate paying a return of at least 10% per year
  • They must be backed by significant assets making the risk of default absolutely minimal
  • Issuer must have no history of defaulting, paying substantially late or failing to deliver on promises/guarantees made by themselves or companies managed/operated by them.
  • Issuer must have a significant track record of successfully managing business(es) in accordance with their contracts and with a profitable outcome for investors.

The only such investment white-listed at the launch of this IPO will be Manager's own fund LTC-ATF - with lending to LTC-ATF allowed.  All other potential investments must be approved by a majority vote of DMS.SELLING.

Loans made to individuals must meet the following criteria:

  • They must be fully secured by assets held as collateral by the Manager.
  • Assets used as security must be BTC-denominated, be clearly profitable and be issued by a company/individual where there is no history of default, paying substantially late or failing to deliver on promises/guarantees.
  • Assets held as security must must be sufficent so as to cover oustanding debt in the event of the largest drop in their value considered likely by the Manager.

Asset issuers and other counter-parties will be approved for white-listing (to have their securities accepted as collateral) by a majority vote of DMS-SELLING.  Initially only three such issuers/counter-parties will be white-listed : Deprived (Manager of this fund and thus already considered acceptable by all investors), Burnside (operator of BTC.CO where this asset is listed) and Friedcat (issuer of ASIC-MINER).

Entities may be removed from the fund's white-lists by a majority vote of DMS.SELLING.

Votes may only be initiated by the Manager (at his discretion).  Investors may propose candidates for white-listing - but have no right or ability to compel a vote to be held.

The detail of loan agreements may be defined by the Manager but must be approved by a majority vote of DMS.SELLING before any loans may be made.

White-listing of an asset (for investment) or an issuer (for securities with exposure to them to be usable as collateral) does NOT compel the Manager to invest in or accept those assets.

VOTING AND CONTRACT CHANGES

Any change to the contract requires a  2/3 majority of all outstanding units AND a majority of all units voting but not held by Manager in favour for EACH of DMS.MINING and DMS.SELLING.  DMS.PURCHASE is not expected to have sufficient outstanding units at any time to contribute usefully to a vote.

Voting IS also explicitly required in the following circumstances:

  • To add white-listed securities for investment.
  • To add white-listed issuers.counter-parties to whome exposure is allowed on collateral for loans.
  • To shut the fund down (other than when it is done without vote if capital stays below 100 days of dividend).

For the first two of these only a simple majority of DMS.SELLING is required.  For the third it is additionally required that a majority of units voting but not held by Manager vote in favour of closure.  These votes are only extended to DMS.SELLING as it is DMS.SELLING's funds that are primarily at risk - any losses from investment fall upon them first.

REDEMPTION OF SHARES

Whilst it is the intention that all trade should be via the market a mechanism will be in place to allow redemption at a small penalty,

An investor may only redeem either:

  • Shares of DMS.PURCHASE
  • A bundle containing an equal number of DMS.MINING and DMS.SELLING shares.  Each such pair being identical in value to one DMS.PURCHASE

No redemption is possible of unmatched DMS.MINING or DMS.SELLING - not only do they not have any fixed value. it would imbalance the 1:1 ratio between them that needs to always be maintained.

In princple redemption occurs by 98% of the NAV/U for the share(s) being paid to the investor.  Manager should redeem shares on these terms unless doing so would reduce the capital coverage to under 50 days of dividends.  If redemption would reduce capital below 50 days of dividends then Manager must cease making new investments until capital is available to honour any outstanding redemption requests.

In short, a good-faith effort will be made to provide a facility for fast redemption - but it cannot be guaranteed where to do so would cause loss to existing investors or reduce liquid capital cover for DMS.MINING below acceptable levels.  Investors should NOT rely on immediate redemption always being available.

ACCOUNTING

At least once a fortnight (with the goal being weekly) a detailed list of all assets and debts held by the fund will be produced.  The only information which will be withheld will be the names of individuals to whom loans have been extended - the amount, terms and collateral for each loan WILL be listed.  Full details of all investments held will be provided and all wallets/portfolios for accounts managed by the fund will be exposed where it is practical and safe to do so (specifically that means anyone will be able to verify the contents of the wallet and all shares held on BTC-TC).

If the level of activity warrants it then more frequent briefer reports will also be produced summarising the fund's status.

Manager may, at his discretion, provide reports at the time of each dividend - but is not obliged to do so.

DEFECTS OR ERRORS IN BTC CLIENT/PROTOCOL/BLOCK-CHAIN

It is conceivable that at some point defects, errors, exploits or bugs could occur in the BTC protocol, block-chain or some other area of infra-structure/software such as to cause ambiguity over what current difficulty was (for example consider if the block-chain forks - there are then two different potential difficulties).

In such situations Manager will use his best judgment to make payments (and allocate funds) so as  to be fair to all investors.  Where the situation is unclear (for example which fork will be abandoned) dividend payments may be delayed until things become more clear.

The guiding principle is that DMS.MINING should receive dividends as though they had been operating real mining power at 100% efficiency on the proper BTC block-chain.

UNFORESEEN CIRCUMSTANCES

It is possible that cirumstances could arise where the Manager is unable or unwilling to continue operating the fund.  Should this position arise then immediately the Manager must:

  • Cease making new investments,
  • Liquidate investments where possible,
  • Cease selling new DMS.PURCHASE
  • Offer redemption at 100% (less any exchange fees) of NAV/U for DMS.PURCHASE and bundles of equal numbers of DMS.MINING and DMS.SELLING where it is possible to do so whilst retaining at least 50 days dividend cover in liquid BTC for the remaining DMS.MINING.

Manager must further seek to either:

  • Find a replacement manager to be approved by a majority vote by both all outstanding DMS.MINING and all outstanding DMS.SELLING.
  • Propose a split of funds between DMS.MINING and DMS.SELLING to be approved by a majority vote by both all outstanding DMS.MINING and all outstanding DMS.SELLING.

In the event of a vote with a proposal to split funds being left up for 7 days and (in either vote) the total of (Yes votes + No votes) being less than 50% of all outstanding shares then the Manager will determine a fair (in his best judgement) split of funds and execute final payments in accordance with that decision.  This clause is added specifically to address the scenario where most shares have been redeemed with a large part of those remaining outstanding being unable or unwilling to participate in reaching closure.

Executive Summary

IMPORTANT : The account to send DMS.PURCHASE to (to receive DMS.MINING and DMS.SELLING) is DeprivedMining

Deprived Mining Speculation is a fund comprised of three seperate securities listed on BTC-TC.  These three securities share a pool of assets to which they each have a different set of rights.  Two of the securities will receive dividends from the pool of assets, the third only exists as a means of enforcing certain consistency on the behaviour of the other two.

DMS.MINING - This acts like a 5 Mega-Hash/Second PMB (Perpetual Mining Bond).  It is NOT a bond (and nor are any PMBs).  Daily dividends will be paid out.

DMS.SELLING - This acts as the backing for a DMS.MINING.  These provide the capital that allows investors in DMS.MINING to receive back significantly more in dividends than they paid for their shares.  If DMS.MINING never receive back what they paid then DMS.SELLING keep the extra.  If difficulty rises sharply then these will also receive dividends - as the capital needed to back DMS.MINING becomes lower.

DMS.PURCHASE - This represents 1 unit of DMS.MINING + 1 unit of DMS.SELLING.  These are the only shares that will be sold by the issuing account on the market.  DMS.MINING and DMS.SELLING are obtained by transferring unit(s) of DMS.PURCHASE back to the issuer - who will then transfer an equal and matching number of DMS.MINING and DMS.SELLING to you.  This is a messy way to sell paired securities - but the only practical AND trackable way to ensure that there are always an equal amount of DMS.MINING and DMS.SELLING.

The selling price of DMS.PURCHASE is defined by formula - and (unless mining difficulty rises massively) will drop over time as dividends are paid out.  The selling/trading prices of DMS.MINING and DMS.SELLING are entirely left to those trading in DMS.PURCHASE to set - there will be no sales of them by the issuing account.  The issuer/manager (Deprived) WILL sell these himself - but on exactly the same footing as everyone else : paying the same amount for a DMS.PURCHASE and competing with all other traders in the market-place.

The majority of capital raised will (where possible) be invested very conservatively - in bonds/debt from well-established businesses and in secured (on reputable securities provided as collateral) loans to individuals.  This allows the cash paid out to DMS.MINING and DMS.SELLING to be more than the selling price of DMS.PURCHASE - reducing the margin traders need to make on the relative pricing of those two for investment here to be profitable.  

In most scenarios the benefit (and risk) of that investment gos to DMS.SELLING holders - DMS.MINING investors received payments calculated based on difficulty whilst DMS.SELLING receive whatever is left over (which includes all income from investment).  This means that although the rate of return of our investment will be low (due to being only in very safe investments and not all capital being invested) DMS.SELLING can still receive a decent return IF bought at the right price - as they will be effectively receiving the earned income on ALL capital not just the portion raised from DMS.SELLING.  That balances the risk they bear - that they have no guaranteed minimum payment at all.  DMS.SELLING investors will be able to determine which securities/issuers are considered 'safe' for investment or for use as collateral when taking a loan from the fund - but investment will be restricted strictly to investments which repay 100% of capital so as to protect the interests of DMS.MINING.

A management fee of 3% is charged on all sales of DMS.PURCHASE.  Originally I was going to take management fee on dividends - but that becomes less transparent and far more complicated, involving taking fees at a number of different dividend points (and having to take a management fee on buy-backs and redemptions as well).  I believe this compares very favourably to all alternatives where the management fee is disclosed.  Sales of 500 BTC worth of DMS.PURCHASE would be needed just for me to break even on the listing fees.

Business Description

This is a brand new fund - with no history.

The fund (all three securities are collectively a fund) is managed by Deprived with, at present, noone else assisting.

The fund is intended to be a long-term vehicle for speculation on the general trend of mining difficulty.  It has plenty of uses beyond that - but that is the main objective.  Although the contract specifiies details of how a buy-back can be handled there is no intention for such to happen in the foreseeable future.  It is hoped that the fund will continue to run for years - with the prices of each type of unit gradually dropping over that period (as difficulty rises).

It is hard to estimate the growth of the fund - as there has been no comparable offering in the past allowing investment on both sides of the coin.  Demand definitely exists - but there is no way to determine the extent of it.  It is also very much the case that demand will depend on pricing - and that is largely out of my hands.  If the market were to happen to all agree on the relative value of DMS.MINING and DMS.SELLING then there would be little demand at all - as this would then be just a very low-income (albeit also low-risk) investment fund.  I very much doubt there's agreement on such pricing however.

To some extent this is thus an experiment - but a pretty low-risk one with the largest risk (15 BTC) almost certainly being to issuer for the 3 listing fees which will be lost if interest is minimal.

Definition of the Market

The information requested here (where relevant) is covered in the later section for Marketting Stategy.  The requetsed information in these two section heavily overlaps and is best detailed together in one place.

Products and Services

This fund (its three constituents) are the only products associated with these securities.

This group of securities (which are individually AND collectively funds) have been created for a few reasons:

  • To fulfil a perceived demand to be able to bet against PMBs.
  • To force down the price of PMBs to a level where they no longer represent outright theft from investors.
  • As an interesting experiment to determine where the market actually prices hashing power (this can ONLY be done when the market can buy and sell both sides of the coin and where supply isn't artificially inflated or suppressed).
  • To allow the Manager to participate and attempt to profit by backing his judgment against that of other participants and the market in general.

Competitiveness for DMS.MINING is provided by allowing the market to efficiently price the DMS.MINING and DMS.SELLING with only a 2% management fee taken.  That should allows DMS.MINING to heavily undercut traditional PMBs - where it is common for managers to take a very hefty effective fee from an activity (mining) which is only marginally in the long-term anyway.

As there is no competition for DMS.SELLING there is no meaningful basis on which to assess our competitiveness.

DMS.PURCHASE is an artifical construct - having no real meaning other than representing one unit of DMS.MINING plus one unit of DMS.SELLING.  The pricing for it is largely irrelevant other than that it must be sufficient to support DMS.MINING but not unnecessarily tie up cash generating low returns.  Dividend payments to DMS.SELLING are used to maintain it in this range - with the actual selling price being the value of existing ones (both actual units and theoretical ones represented by the outstanding DMS.MINING + DMS.SELLING) with a small markup to slightly reward early adoption and also penalise certain gaming strategies that would work were there no such markup.

The pricing and volume of DMS.MINING and DMS.SELLING is entirely open for the market to decide with two limiting factors:

  • There will always be an equal number of DMS.MINING and DMS.SELLING issued.
  • The combined price of one DMS.MINING + one DMS.SELLING will always tend to be around the fixed price of one DMS.PURCHASE.
Organization and Management

This fund is issued and managed by Deprived - details of whom are in the issuer section.

Marketing Strategy

The market for each element of this fund is as follows:

DMS.MINING :  Investors who want to invest in a PMB-type investment and decide this is the best value for money.  Investors who have no particular investment in PMBs but believe these are priced so low as to be worthwhile anyway.

DMS.SELLING : Investors who believe those buying DMS.MINING are doing so at a price which will incur a loss.

DMS.PURCHASE : Investors who want a very safe investment (in BTC terms) and are willing to accept a low rate of return.  Investors who want to invest in either of DMS.MINING or DMS.SELLING and can obtain their desired position cheaper by buying DMS.PURCHASE and selling the unwanted part.  Market-makers who want to profit from the spread on DMS.MINING and DMS.SELLING.

In addition to the above, the lack of any central control over the prices of DMS.MINING and DMS.SELLING allows speculation based either on predictions or upon a belief that the rest of the market has misunderstood/miscalculated something.

The demand for this is VERY much unknown - people having strong opinions but being unwilling (or unable) to back those views with hard cash is by no means a new phenomenon.  The profitability of investment in this is not massively impacted by volume - rather it is set by individual investors' abilities to correctly identify and/or predict the best price points to buy or sell DMS.MINING and DMS.SELLING.

There are currently no plans to promote this fund anywhere other than on the BTC forums and on BTC.CO itself.

Financial Management

Public Portfolio on BTC-TC : https://btct.co/portfolio/gbg8CQ==

Public Portfolio on LTC-GLobal : https://www.litecoinglobal.com/portfolio/fsA2Cw==

The links above allow viewing of all securities and the wallet balance of the issuing account.  Further links will be added if/when needed (e.g. to show holdings on LTC-Global and/or to show the portfolios for accounts holding collateral from individuals to whome funds are loaned).

At least once a fortnight (with the goal being weekly) a detailed list of all assets and debts held by the fund will be produced.  The only information which will be withheld will be the names of individuals to whom loans have been extended - the amount, terms and collateral for each loan WILL be listed.  Full details of all investments held will be provided and all wallets/portfolios for accounts managed by the fund will be exposed where it is practical and safe to do so (specifically that means anyone will be able to verify the contents of the wallet and all shares held on BTC.CO).

If the level of activity warrants it then more frequent briefer reports will also be produced summarising the fund's status.

Manager may, at his discretion, provide reports at the time of each dividend - but is not obligated to do so.

 

 


ʡ = Recent Notification or Pending Motion, ʬ = Recent Contract or Prospectus Change