Quote from: odolvlobo on March 14, 2014, 12:21:09 AM

Quote from: ThickAsThieves on March 13, 2014, 07:36:23 PM

Quote from: odolvlobo on March 13, 2014, 07:09:23 PM

Now that Deprived is back, I propose that we vote to shut this operation down, somehow. This security is not viable without an exchange, and everyone would gain.
DMS.MINING shareholders would benefit greatly. According to the terms for a shutdown, DMS.MINING shares would get 365 times the daily dividend, which is currently about 0.00000066 BTC -- for a total of 0.0002 BTC. Thats is much more than they could get by continuing to receive daily dividends.
The DMS.MINING payout plus the unpaid dividends are certainly much less than the last price of a DMS.MINING share, so DMS.SELLING shareholders would get a decent return.
It's a good outcome for everyone.

He'd need to render all missing dividends before doing such, which would likely wipe out most reserves, no? I haven't bothered backtracking it all.

Normally, the reason for not closing the fund would be that paying 365 days of mining dividends would drain the fund (which normally holds between 400 and 410 days). However, the difficulty has risen so much that the fund now holds about 4400 days.

Miners underestimated the rise in difficulty, so catching up the dividends will definitely not cost more than the NAV/U. The closing payout is only 0.0002 BTC, so it is likely that DMS.SELLING will also get a payout, and without going through the actual numbers I believe it will return a profit.

I havent done (and can't presently do) any of the math but my every instinct says that even after paying all MINING dividends there'll be a dividend due to SELLING. That dpesn't, howver, mean SELLING should look to pay 300 days more dividends to MINING - even without any spreadsheet in front of me I'm condfident I can offer a better deal t o SELLING than that - but if others want to offer that then I obviously won't stand in their way. WHich is why there'll be no vote on it - as I'll personally be offering a better deal to all SELLING holders than such a vote could possibly deliver (such a vote couldn't assign a non-zero value to CIPHERMINE.B1).

I have no intention at all of trying to steamroll either MINING or SELLING into accepting a buyout - both will 100% have the right to, without penalty, receive all benefits due to them under the original contract. But neither will I put to vote something which is, essentially, worthless - given that I'm personally willing to offer better to the voters (SELLING) immediately.

So long as it isn't impossible due to block-chain limitations ALL outstanding dividends WILL be paid promptly (subject to confirming the email/BTC addresses) so any judgment of what's fair has to be made on that basis.