Post
Topic
Board Securities
Re: [Havelock] Bitcoin Difficulty Derivative (BDD)
by
twentyseventy
on 08/08/2014, 19:32:49 UTC
2014-08-08 12:03:57    dividend          B.MINE    ฿0.06907248
2014-08-08 12:02:16    sell    200    ฿0.01475000    B.MINE   

The dividents ware a little bit late, but I am sure you will correct it.


Dividends are run automatically on Havelock's script, I don't have control of the exact timing that dividends are issued. They actually always run a little after Noon.

Dividends are paid to whomever holds the MINE share at that time, so the new holder of the MINE shares received the dividends, as they should have. Just like SELL divs, be sure that they've been paid that day before selling on the market.

I am surprised - you did manual corrections in similar situations.

OK, then please correct your declaration at "Overview" section here:
https://www.havelockinvestments.com/fund.php?symbol=B.MINE:

"B.MINE allows its holder to receive daily dividends of the theoretical mining output of a 5GH/s Bitcoin miner. Dividends will be paid to holders of B.MINE at 12:00PM Eastern Time each day. "

so nobody else will be in my situation - loss of 0.025 BTC for 100 seconds Smiley

I have done manual corrections when there was an error made on my part. However, this is a standard occurrence that dividends are paid soon after Noon and not exactly at 12:00PM ET, so there was no error made on my part here.

From the contract:

Dividend Payout Times
All reasonable care will be taken to pay out dividends on time. In the event that the Manager is available to pay out dividends on time, for any reason, then dividends will be paid out as soon as possible afterwards. The holders of the contracts are entitled to receive dividends at the time that the Manager pays the dividends, not at the scheduled time at which dividends are normally paid.

It's the same situation as if a SELL holder had sold the shares before the dividends were paid - you have to ensure that you see the dividends in your account, don't rely on the time to see if they've been paid yet.