Re: [Havelock] Bitcoin Difficulty Derivative (BDD) - Now Live!
Rannasha is in the right ballpark when it comes to the benefit of my managing the fund.
The beauty of a thing like DMS, BDD, eltopos ET.DIFF etc. is that you don't have to trust the issuer because it's obvious he or she'll make more money doing this honestly than scamming people. Guess what that means or at least should mean for you concerning disclosing your source of income, especially if there's doubt about your previous ventures. You have "some kind of deal", undisclosed, doesn't quite cut it...That's why I asked
While it would be nice if you were able to do this for más o menos free it's not realistic.
Your proposed fee's is 2%plus this minor fraction from havelock? Fine with me.
I did figure that was why it was being brought up the first time around - it's a fair question. As I said earlier, I started the fund wanting as little friction as possible to A) get it off of the ground, and B) give those new to the fund some time to get used it - buying into something you don't understand (as some people will do, not matter what I say) and holding the BDD pair only came at the cost of the .4% Havelock exchange fee. I'm thinking that, since we're now a month along, that this will be less of an issue.
I'm ok with the 2% man fee. But as the fee affects arbitrageurs more than others, I'd like to see the auto-exchange first. That would be some kind of value for the additional fee.
I think that's a fair way to look at it - I'll be following up with them again this week on that. I'm eager to have that done as well, as it will A) allow arbitrageurs to take more immediate advantage of trade opportunities, and B) eliminate the need for me to be online every day at Noon to ensure that all shares have been exchanged before the MINE dividend posts. You know all of this, but I'm just putting it out there for those that may not.
Once it's up, I'll still issue a daily report, but it won't necessarily have to be at Noon - the NAV/U doesn't change significantly enough between Noon and the afternoon/evening for it to make a huge difference for those relying on it.
Thanks to both of you for your responses-