- MINE units pay out dividends at a theoretical hash rate of 100 GH/s, compared to 5GH/s previously
- Purchases of EXCH are subject to a 3.4% premium, of which 3% will go to the Manager and .4% will go to paying the exchange fee. Previously, 2% went to the Manager, .4% to the exchange, and .6% back to the capital on hand.
- Redemptions of MINE/SELL pairs will still be bought back for 98% of NAV/U, but the 2% difference will go to the Manager instead of the capital on hand.
- There will be a target of 180 days of dividends, as opposed to the 200 days previously.
- The End-Game Via Decrease will be triggered by a NAV/U of 0.02BTC instead of 0.0002 BTC
Care to explain why they had to go? This will be a fast round ^^
Sure. Overall, it's a way for me to bring in a bit more revenue without substantially changing the model. I won't lie and say that this isn't the primary reason for the change. BDD ended up being a higher time commitment overall than it was planned to be. At first, I was just going to publish bi-weekly updates (which sounds laughable now). It also provides more steady revenue in times of lesser interest of BDD or in times when redemptions are more frequent than new sales (times of stability).
Secondarily, I do believe that it provides a more 'pure' version of the game - the NAV/U is much less flexible, as it's not affected by sales and redemptions. Basically, the NAV/U is going to get split between MINE and SELL somehow, but no more or no less.
The Round is made to be about six months; this last one came out to 16 months, which is a very long time in the BTC world - back then, BTC was $800 and Mt Gox was still around! I'd like to be able to have faster rounds to accommodate for possible changes in the market or ecosystem - I'd prefer not to hang on to money for over a year, really.
So, if the difficulty hangs around the same amount, yes, it will be a 'boring' round. But don't forget that only six months ago we had the first decrease in years. 12 months ago, the difficulty was clipping along at double digit increases. A lot can happen in six months.
Will post new contract and previous daily updates tonight; currently enjoying Memorial Day! Cheers, hope that this will be a good coming Round.