Post
Topic
Board Securities
Re: [Havelock] Bitcoin Difficulty Derivative (BDD)
by
twentyseventy
on 16/11/2016, 05:53:15 UTC
Round 3, Period 19, Day 8 Report - November 14, 2016

Balance Post Divs: BTC 45.58562336

Total Units: 2953

NAV/U: BTC 0.01543705

Round 3, Period 19, Day 9 Report - November 15, 2016

Balance Post Divs: BTC 44.72786697

Total Units: 2954

NAV/U: BTC 0.01514145

Hello, this is a very impressive and deep product. I own 55 units and am happy to have found something that pays 1% daily that is indeed legitimate. I have a lot to learn, but wanted to start with one small thing I noticed.

If you look at the product description:
https://www.havelockinvestments.com/fund.php?symbol=B.EXCH

It states:
Quote
B.MINE and B.SELL must always be issued in equal amounts, and remain in equal amounts outstanding, to ensure that each B.MINE contract is backed by the funds of a B.SELL contract.

However, as you can see from my portfolio, I was able to buy B.MINE directly without purchasing B.EXCH and receiving a pair.


While it pays what it pays currently, please be aware that there is a defined endpoint coming up in 60 Days, barring a big (huge) change in difficulty - this does not pay out perpetually. MINE and SELL are issued in equal amounts; you can see that there are exactly 2954 units of MINE and SELL each. You can purchase MINE and SELL on the open market by themselves, but new units are issued into the market only via purchase of EXCH.