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E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
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Author Topic: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio  (Read 43436 times)

Cassius

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E9
Supporting the Nxt ecosystem: Multistrategy hedge fund
Asset ID: 5056017329645101426 (EIX)

The supply of NXT is finite (1 billion or 1E9), whereas the market cap of the Asset Exchange has no limit. Bringing money into NXT from fiat and supporting existing Nxt businesses is therefore a clear strategy for ensuring both the financial and practical success of Nxt.


Strategy
E9 will generate revenues from manual trading and brokerage activities (managed by Whale) and market-making/arbitrage/trading bots (coded by Coinomat), further managing risk by using a proportion of profits to purchase a wide range of assets, which will themselves generate income and support the broader Nxt economy. It is a balanced fund targeting constant capital growth and increasing revenue generation.

Allocation of funds and Revenues
E9 will have a diversified portfolio based on crypto trading and bulk purchases; market-making, arbitrage and trading bots; a range of revenue-generating assets to manage risk; and cash reserves for rebalancing the fund. After management fees, a proportion of revenues will be reinvested to increase NAV, grow the fund and generate higher future incomes. 1% will be donated to key Nxt organisations, with the remainder dividended out to assetholders monthly. Above a gross return of 10% per month on AUM, a further 5% of revenues will be held for discretionary bonuses. Initial/provisional allocations will be:



Asset issue
An initial offering of 200,000 assets will be made to organisations core to the success of Nxt (e.g. NXTer.org, Nxt Foundation, etc) and other bulk purchasers (likely 25k assets and above), who will receive a 5% discount. Depending on the nature and suitability of the business, there is scope for an asset swap at negotiated rates if the buyer has outstanding assets, since these would become part of E9’s supporting portfolio. A further 220,000 assets will be sold at 10 NXT on the Asset Exchange, giving a total of 4.2m NXT. 15% of total assets will be granted to the management team, who will also purchase further assets as private individuals. 1% will be reserved for NXTi, for escrow/security. Remaining assets will be escrowed with NXTi. If existing/profitable allocations of funds are maintained, the asset will scale indefinitely without harming holders. New investors can be added at or above market price without dilution.

Security and succession
E9’s dividends and 15% management payments will be dealt with by NXTInspect (NXTi). If one of the management team leaves, payment can simply be switched to the incoming employee – rather than tying up large amounts of assets themselves as payment. This also enables the fund to scale indefinitely.

Coinomat, Whale and Cassius

UPDATE: Asset issue is complete. Initial assets have been distributed and the remainder escrowed with NxtInspect.
« Last Edit: November 26, 2015, 10:50:32 am by Cassius »
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Cassius

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Guys, we'd like to gauge interest at first. We're looking to sell several tranches of 25k assets at 5% discount before the rest go on the AE. We'd really like to give first refusal to organisations that are core to Nxt's success but could use extra income. Obviously, the organisations that need the funding most are less likely to be able to afford assets, but I'd hope this was one way the community could step up and support through donations.

Please register your interest here and once we have an idea of who would like to buy we can make a decision on whether everyone can be accommodated at discount price. This initial stage will last a week from now (12:40 GMT Friday).
« Last Edit: July 03, 2015, 12:39:33 pm by Cassius »
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Cassius

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List of requested assets (current priority list in red):

Azeh:           25k (sorry, overlooked this one at first)
Whale:          37.5k
MMBTCD:      37.5k

Cassius:        10k
JamesList:     25k
MartinYin:      30k
MadCow:       25k
VanBreuk:     10k
Twinwinnerd: 25k
TwinVnTure:  25k
Chanc3r:       25k
JefDiesel:       10k
KarlKarsson:  25k
Yassin54:       10k
Apenzl:          2k
godt:             25k
martismartis:  25k
marechou:      25k
BTCOR:         50k
Abraxas 147: 10k
crumb-bum:   10k
DeBuNe:        25k
Capodieci:      25k
NXTer/Nxt Foundation: 25k
(Combined tranche)

I think it's fair to say that the discount tranche is going to be well oversubscribed. Sorry folks. Still hoping that another couple of Nxt organisations will get in there too.
Early discount was for bulk buys (ideally by Nxt orgs, to whom priority is given, but that's not entirely the way it's gone so far) so smaller/later buyers will probably need to wait for AE release.

We're just finalising the list now. It looks like Nxt organisations will buy most of the discount tranche, which is great. We've had to decrease a couple of the larger tranches (MMBTCD and whale) to fit everyone in, and BTCOR has been increased as part of the deal we cut for an asset swap. Still waiting on final confirmation, then we will start collecting funds and release the asset for purchase on AE.
« Last Edit: July 08, 2015, 08:40:41 am by Cassius »
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Nxtblg

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Guys, we'd like to gauge interest at first. We're looking to sell several tranches of 25k assets at 5% discount before the rest go on the AE.

Too rich for my blood, but I'll certainly add the Asset ID to my bookmarks once it's ready to be sold at 10.
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mezzovide

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Isnt 15% for management a little bit too much? maybe 5% of it should be distributed into nxt ecosystem and reinvestments.
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TheCoinWizard

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Isnt 15% for management a little bit too much? maybe 5% of it should be distributed into nxt ecosystem and reinvestments.
I don't see you creating an alternative with only 5% management fees...
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Cassius

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Isnt 15% for management a little bit too much? maybe 5% of it should be distributed into nxt ecosystem and reinvestments.
I don't see you creating an alternative with only 5% management fees...

We thought about this fairly carefully. Some similar assets pay out e.g. 70% as divs, some reserve a large proportion of assets for the issuers, some do both. We've tried to address that by reducing the proportion of shares that go to issuers, and compensating with a management fee. That hopefully makes it more sustainable since there are potential problems if the team changes and they've been paid with assets at the start.
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Freebieservers

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Isnt 15% for management a little bit too much? maybe 5% of it should be distributed into nxt ecosystem and reinvestments.

I for one know the quality of cassius's work and I am constantly in touch with him regarding FS projects. He's played a nice role in our involvement with Nxt. Anyone that values his work will not sell himself low to the point of 5 percent imo
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mezzovide

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ok, my english obviously broken, sry not my mother tongue ;D

What i mean is reduce 15% management to 10% management, and redistribute 5% to nxt ecosystem and reinvestment. i.e 10% management 30% reinvest, 55% dividend, 5% nxt ecosystem. just a suggestion though...
« Last Edit: July 03, 2015, 04:28:55 pm by mezzovide »
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Freebieservers

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ok, my english obviously broken, sry not my mother tongue ;D

What i mean is reduce 15% management to 10% management, and redistribute 5% to nxt ecosystem and reinvestment. i.e 10% management 30% reinvest, 55% dividend, 5% nxt ecosystem. just a suggestion though...
I think the nxt ecosystem allocation can be done within the portfolio split they are doing.
What am saying is, let the asset owner take  a good cut because good pay = good work an I've seen great quality of work come from these folks and I can vouch on it. :)
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maddy83

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Will this fund have "full transparency" like the LIQUID fund has?

Like, can people view the balance of the trading accounts in real time, and that sort of stuff?
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Azeh

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Cassius, good stuff.

I'll try to pull together some funds to buy a tranche.

Put me down for 25k.
« Last Edit: July 04, 2015, 06:13:24 pm by Azeh »
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whatnxt

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Isnt 15% for management a little bit too much? maybe 5% of it should be distributed into nxt ecosystem and reinvestments.
I don't see you creating an alternative with only 5% management fees...

We thought about this fairly carefully. Some similar assets pay out e.g. 70% as divs, some reserve a large proportion of assets for the issuers, some do both. We've tried to address that by reducing the proportion of shares that go to issuers, and compensating with a management fee. That hopefully makes it more sustainable since there are potential problems if the team changes and they've been paid with assets at the start.

I see so the 15% management fee should be seen as equivalent to giving the management team shares:

                            15*100%/(55+15) = 21.4286% of  shares

which it uses to pay the management team regardless of the number and names of people in it.
So 15% management fee is equivalent to 21.4286% share holding in one account used for the management group.
Given the 3 current members of the Management team that's a 7.1428% share holding per member. Which is close to the 5% mentioned earlier.

On the plus side
No individual member of the team has ownership of the income. So the Management team is not dependent on individuals.

The income of the management team grows with the asset so the management team can also grow and change as the fund develops. Which is good, we do not want the fund to be limited by the decisions at the start.

On the down side
If the shareholders are diluted (more shares issued) then the Management team is not diluted and still receive the 15%. This is a conflict in the interests between Management team and the Shareholders which would not occur if the Management team held shares in one account.

As I see it the current members of the Management team all have other commitments to other share holders of other assets. So the fee is to buy their time away from these commitments. Another conflict of interests.
« Last Edit: July 03, 2015, 05:38:51 pm by whatnxt »
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Cassius

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Will this fund have "full transparency" like the LIQUID fund has?

Like, can people view the balance of the trading accounts in real time, and that sort of stuff?

Initially, probably not to that extent, but it's something we'll continue to discuss - particularly if it's a priority for holders.
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Cassius

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Isnt 15% for management a little bit too much? maybe 5% of it should be distributed into nxt ecosystem and reinvestments.
I don't see you creating an alternative with only 5% management fees...

We thought about this fairly carefully. Some similar assets pay out e.g. 70% as divs, some reserve a large proportion of assets for the issuers, some do both. We've tried to address that by reducing the proportion of shares that go to issuers, and compensating with a management fee. That hopefully makes it more sustainable since there are potential problems if the team changes and they've been paid with assets at the start.

I see so the 15% management fee should be seen as equivalent to giving the management team shares:

                            15*100%/(55+15) = 21.4286% of  shares

which it uses to pay the management team regardless of the number and names of people in it.
So 15% management fee is equivalent to 21.4286% share holding in one account used for the management group.
Given the 3 current members of the Management team that's a 7.1428% share holding per member. Which is close to the 5% mentioned earlier.

On the plus side
No individual member of the team has ownership of the income. So the Management team is not dependent on individuals.

The income of the management team grows with the asset so the management team can also grow and change as the fund develops. Which is good, we do not want the fund to be limited by the decisions at the start.

On the down side
If the shareholders are diluted (more shares issued) then the Management team is not diluted and still receive the 15%. This is a conflict in the interests between Management team and the Shareholders which would not occur if the Management team held shares in one account.

As I see it the current members of the Management team all have other commitments to other share holders of other assets. So the fee is to buy their time away from these commitments. Another conflict of interests.

There's a slightly difficult balance to strike in issuing an asset. Some asset issuers take 20-50% of the asset, depending on what they're bringing to the table. Now, what happens if they (or one of a team) move on? Someone still holds a big chunk of the issue, but they're not actively involved any more. On the other hand, it seems reasonable that the team who put the initial work in should be rewarded with an equity stake to some degree.

The alternative is to pay the team off the top of revenues. That has the advantage that it's sustainable - if one of the team moves on for whatever reason, another can come in and be guaranteed pay. You'll see from OP that we've tried to strike a balance between these two things.

You'll also see from OP that dilution should not be an issue. This isn't a limited pie where issuing more shares means everyone gets a smaller slice. Raising extra capital will be put to work generating more revenues. No one loses out. There's a line that reserves 5% of future assets issued for founders/team, which would go to whoever was on the team at the time - again, not diluting the proportions held by anyone.

On the subject of giving some revenues away, we've limited it to 1% on an ongoing basis. The tension we have is that the more revenues are donated, the less attractive the fund is to investors, the less capital raised and the lower any cap growth. Hence the idea is to enable organisations that are actively involved in Nxt (like NXTer, Nxt Foundation) the chance to buy in at the beginning, or have people donate assets to them. Someone has to get in on the ground floor, and it would be nice if it was organisations like these that do great work and need the funds to continue. That's why we wanted to do the 5% discount to start with. But anyone will be able to buy when the remaining assets go on the AE at 10 NXT, and hopefully that will still be a good price over the medium term.

So there has been a series of balances to strike. We've come to the conclusions we have for a reason, though realistically no solution will be perfect and, of course, you can't please all the people all the time.
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whatnxt

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There's a slightly difficult balance to strike in issuing an asset. Some asset issuers take 20-50% of the asset, depending on what they're bringing to the table. Now, what happens if they (or one of a team) move on? Someone still holds a big chunk of the issue, but they're not actively involved any more. On the other hand, it seems reasonable that the team who put the initial work in should be rewarded with an equity stake to some degree.

The alternative is to pay the team off the top of revenues. That has the advantage that it's sustainable - if one of the team moves on for whatever reason, another can come in and be guaranteed pay. You'll see from OP that we've tried to strike a balance between these two things.

Another alternative is to hold assets for the Management team in one account.

Quote
You'll also see from OP that dilution should not be an issue. This isn't a limited pie where issuing more shares means everyone gets a smaller slice. Raising extra capital will be put to work generating more revenues. No one loses out. There's a line that reserves 5% of future assets issued for founders/team, which would go to whoever was on the team at the time - again, not diluting the proportions held by anyone.

As described I think your logic is off.

There are a few long term outcomes of a second share issue:
Maintaining the dividend yield: New and old shareholders get the benefit of their investments. Management team get an increase.
Increasing the dividend yield: new shareholders subsidise old shareholders. Management team get an increase.
Decreasing the dividend yield: old shareholders subsidise new shareholders. Management team get an increase.

In the short term there is one outcome:
While the new capital is invested, the original dividend is shared between both new and old shareholders so the new shareholders get a dividend they would not have got if they had started a new business and the old shareholders receive less. The original shareholders lose out and have a 1 in 3 chance of getting the subsidy back. The management team is initially unaffected, and then slowly receives an increase.

There is a conflict of interests between shareholders and management team.

I have ignored the NAV in the above, because the Management team do not benefit from the NAV directly where as shareholders can if they sell.

Ultimately its up to the investor whether they invest, but it would be nice to get some commitments for the future development of the fund.
« Last Edit: July 03, 2015, 09:07:58 pm by whatnxt »
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Cassius

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^^^ You are right. Good catch.
We will discuss. It looks like we should address this one way or another.
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prometheus

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good move, given the success of mmbtcd
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whale

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Please stick to altcoin trading if you intend to maintain that issuers do not deserve compensation (the whole premine mentality that was born in bitcointalk). NXT assets are different and it is very common for an asset issuer to retain 40%+ of the supply. Therefore, 30% is very reasonable considering there are three people working on the asset (my opinion).

Cassius, please put me down for 500,000 NXT.
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Cassius

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I'd also like to sign up MMBTCD for one or two tranches of 25k. They are not a Nxt business (the purpose of MMBTCD is to increase liquidity in BTCD markets and they pay out in superBTCD) so it may be more appropriate for this to come out of the non-discount lot at 10 NXT, depending on demand.

I'd personally like to buy 100k NXT too, but this will not be eligible for discount either.
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JamesList

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I would like to buy 1 tranch of 25k  :)
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Cassius

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Great to see some early interest.
I just want to clarify that if organisations like NXTer, Nxt Foundation, Dev Fund, etc, want to buy in, then we plan to give those priority. If that means other people don't get the chance at 9.5 NXT, there will still be the option at 10 NXT. We were intending to release these on AE, but we'll discuss whether we should do off-exchange buys as well.
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martinyin

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Please put me down for 30,000 assets if there is still some left ;D
« Last Edit: July 04, 2015, 12:41:01 pm by martinyin »
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Cassius

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Please post in the thread if you are interested - do not PM me! This is so that it is clear who applies first.

Other than core Nxt orgs, assets will be sold on a first come, first served basis. Once the 9.5 tranches have sold out, we'll continue from the remaining 10 NXT assets.
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MadCow

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I would like to put in an order for 25K E9 assets
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VanBreuk

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Sign me up for 10K as well :)
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TwinWinNerD

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25k here

TwinWinNerD

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so if I go over the numbers it looks like I won't get any @9.5NXT/E9. :(

chanc3r

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I'll take 25k if there are any still available for bulk purchase.
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Cassius

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so if I go over the numbers it looks like I won't get any @9.5NXT/E9. :(

It does. However, it's possible someone won't pay up when we actually distribute assets.

The assumption is that people are happy to buy at 10 if the 9.5 tranche is sold out, though of course you are free to refuse when it comes to it.

I'm really hoping a couple of organisations like NXTer, Nxt Foundation etc will be able to attract some donations for this too.
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prometheus

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Are there plans for a slack channel?
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TwinWinNerD

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I hope I get it with the discount, but if not I will probably buy a lesser amount at 10 too.

Cassius

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Are there plans for a slack channel?

Working on it. We had a group initially, which I've now archived because Slack doesn't let you have groups and channels with the same name. Hopefully it will be created soon.
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jefdiesel

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interested

but seem to have missed the discount cut. that's fine. i'll be watching, or will take 10k on the AE
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KarlKarlsson

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I would buy 1 tranche of 25k too.

When does the official sale on the AE start?


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I would like to buy 10k
Thanks  :)

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I can personally afford 2K. Sign me up for that, Cassius.  :D

As discussed in chat and DM with the E9 team,
NXTER.ORG really appreciates being put in front of the queue as a Nxt community service, and being offered this 5% discount.

E9 could really help us, and solve a present problem.
The problem is though, that there's no way in Hell we can afford to buy in.

TL;DR: NXT-WCUJ-524E-WMD5-HG6BE.

NXTER.ORG is ppl doing free work (/investing hours and skills per week) to help Nxt.
We have the NXTP asset, which we reward to contributors and which dividends out our net profit to its hodlers.
Atm these dividends come from ads sales and sponsorships only. Accounting and NXTP distribution: https://nxtforum.org/nxter-org/accounting-7309/

The idea behind NXTER.ORG is to build a magazine (some would say a competitor to Bitcoin zines) around Nxt & SN news, market analysis and reports, and use this to promote Nxt, 3rd party services + businesses with Nxt Inside, by offering info about them in a more accessible way than the forums and Slack. A central point of easy to access (and understand) info.

In phase 2 (when the tech is ready and we are) we’ll integrate Nxt and SN services into the site. This way our readers, the user base we’ve been building since Jan 2014 + new catches, can access them, even in their own language. No blockchain download > Buy NXT on the site, use it on the site or reinvest it on the site. We’ll make sure it is easy to do, and all code created will be open sourced. NXTER Magazine 2.0.

We’re still in phase 1, but we’ve proved our value, imho.

For example, all infos in the ESMA report are quoted from articles published on NXTER.ORG.
We've got the ~ amount of readers per article as CoinTelegraph has (we do not publish as many – we need writers!).
Our google rank is good, social media accts keep building audience (mostly outside of the Nxt community), and we’re now prepairing a relaunch of the site. We’ve had all Nxt main articles translated into landing pages in Chinese, Spanish, Russian, Japanese, French, German + more… we're waiting for a redesign of the site to be finished (and ”free work" takes time), then we can publish these sites and start promoting them.

BUT...
We do need more manpower!  8)

Almost a year ago, we got a 240K NXT donation from MC; 20K per month to dividend out to NXTP hodlers for a year, the rest earmarked for certain contests and faucets when we decide that we’re ready to do a push for wider adoption. We have the info and plan at hand, and we have the network of dedicated translators in many countries who will help with this - but we can’t pay them. Atm the MC dividend funds are about to dry out.

Therefore I write; we need writers. I make images for all articles. Research. Manage social media marketing. Pay out dividends. Answer emails. Network. And tell ppl who are interested in contributing, that they must work for nothing. We have a mailing list of 550 subscribers to Nxt news - but I can’t find the time to write them.

E9 can make the NXTP asset worth more, and make it more trustworthy; Atm it’s based on trust - that I and the NXTER.ORG core team will keep fighting for it. If it appreciates in value with E9, we can make more ppl work for it. Also, 20% of all NXTP stays with NXTER.ORG when the asset distribution is over. So besides paying the active community dividends, money will also flow into the NXTER.ORG acct and help cover our expenses (VPS node, hosting, bounties for urgent work, etc).

I've set NXTER.ORG up. It can help grow the Nxt platform, the community and Nxt businesses. But we need to give appreciation to the ppl who do the work.

Until this year, I’ve paid all NXTER.ORG expenses myself. I’ve had ~ 100K NXT donated to me all in all over these 1,5+ years for this, including an amazing 500 NXT donation (thanks, QBTC!) for managing the creation of the Nxt corporate design, which is now Nxt’s visual identity and has been adopted by all. I'm obviously better at promoting and raising funds for others than myself. :)

Now I’ll try to do it once again. For the last time.

This is an ask for a one time donation:

If you (yes YOU!) appreciate NXTER.ORG, what we have done and what we can do for Nxt in the long term, consider giving a donation.

If you appreciate the work that I’ve been doing for Nxt since January 2014, and the SuperNET Newsletters, please give a donation to http://NXTER.ORG.

If you appreciate the work that all other contributors to NXTER.ORG have done for Nxt, please consider donating to NXTER.ORG. Sadly I can’t show you the multilingual content yet, just asure you that all translations have been done by humans from all over the world, and it’s not just Nxt [CORE] articles, guides and the examples of Nxt usecases, but also the articles that promote Nxt businesses. The translators are hungry, but they need incentives to keep on going. Consider donating to them NOW!

All NXT donated to acct NXT-WCUJ-524E-WMD5-HG6BE will be used for buying E9 for hodling.
So that all dividends can flow through NXTP to the NXTER.ORG contributors and to NXTER.ORG itself.

IF you donate to the point where we can buy 25K (@ a 5% discount price), we can pay a “guaranteed” dividend of ~25K NXT per month to our contributors. By adding E9 to our portfolio, we will also - besides speeding up + supporting fiat-sucking into NXT - be the first crowdfunded magazine to pay it’s contributors with AE dividends from net profit + E9. IMO there’s a story there, about a new business model, about Nxt, Nxt AE, about sucking fiat into crypto, but also Coinomat, NxtInspect, and SuperNET (as InstantDEX + tradebots will most likely be part of Coinomat’s toolbox for E9, I guess). In other words, a story to gain interest from outside the Nxt community.

-

I am me:

Token (nxtforum.org) for donation acct: NXT-WCUJ-524E-WMD5-HG6BE:
kcgcdstkdjhm1rupdfjj6drr6boe6emuv1v30drlla1blo1i0qecmuve5gvmm483hr2pja79m30fut809kjin4obeifp7shn8674j0s3fde0871koi4dueh31sc5krtf2phlsm231hsndv1d79ofj0pso1rsmsnv

Token (working-horses-to-help-Nxt) for main NXTER.ORG acct NXT-EAVH-SLEV-KSEE-EE2KP:
r256j9ajk3qo0qm6dc0mhkc3b97i52incbs52jj8usk51kuc0qeki4uc6cshg3834p6f1l03l8df0srhljrgfrjhsp3d9bfobgtjtvmk9vsg0s1232chkg396lkesvj8kh613iiqq243jibhvgj1d5o21t45pnim
« Last Edit: July 05, 2015, 02:06:41 am by apenzl »
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godt

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I am interested.
WTB 25k
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martismartis

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If it still available, I'm interested too in 25k.
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Peter2516

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@apenzl: See DM on Slack :)
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marechou

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WTB 25K asset if available.
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Abraxas 147

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WTB 10k with or without discount
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prometheus

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looks like there will be no problem raising funds
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crumb-bum

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I'd buy 10K, guys, if it's not too late.
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whale

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Unfortunately, it appears some of you may miss out. The demand has simply outstripped the initial supply. Furthermore, there are NXT businesses and not-for-profits with pending orders. 

As some of you may have noticed, 1% of revenue is available for NXT individuals or initiatives that deserve some extra funding. This will be voted on monthly. If you have a nominee, please don't hesitate to contact Cassius.
« Last Edit: July 06, 2015, 09:33:35 am by whale »
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If it still available, I'm interested too in 25k personally, 25k from DeBuNe.

No idea what this is, and got no much time, but I like and trust the people around it, so if I can I am in.

Sorry to have arrived only now.

R
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prometheus

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I didn't know lots were (are they?) available for under 25k. I'd do 10k if this is the case, perhaps more (10k more) depending on how the assets I have to offer will be valued

if there is any available.. at the very least, I can be put on the list. discount or no discount, I'm still interested
« Last Edit: July 06, 2015, 05:05:20 am by prometheus »
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Cassius

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I'm going to stop listing interested parties now (unless they are Nxt organisations), since there are already way too many to offer discount assets to.
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Cassius

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I didn't know lots were (are they?) available for under 25k. I'd do 10k if this is the case, perhaps more (10k more) depending on how the assets I have to offer will be valued

if there is any available.. at the very least, I can be put on the list. discount or no discount, I'm still interested

Not really - I've just included them for the sake of completeness and gauging overall demand. I also wanted to register my own interest for the sake of transparency, but my bid was below 25k, which I suppose gave other people a cue to do the same.
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VanBreuk

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Not really - I've just included them for the sake of completeness and gauging overall demand. I also wanted to register my own interest for the sake of transparency, but my bid was below 25k, which I suppose gave other people a cue to do the same.

Ok, then some of us definitely misunderstood. Could you please confirm as soon as it is clear that pre-orders below 25K are not effective? Or if they are, whether discount can be applied or they follow AE launch price?

Thank you.
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yassin54

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Not really - I've just included them for the sake of completeness and gauging overall demand. I also wanted to register my own interest for the sake of transparency, but my bid was below 25k, which I suppose gave other people a cue to do the same.

Ok, then some of us definitely misunderstood. Could you please confirm as soon as it is clear that pre-orders below 25K are not effective? Or if they are, whether discount can be applied or they follow AE launch price?

Thank you.
Sorry i am not expert
better is 10k or 25k?

maddy83

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I understand the discount for the NXT organizations, but I have some doubts about a general discount to big buyers.

Someone can just buy 25k at 9.50, and then put it up for sale at 9.99, as soon as you launch it on AE. You are giving these people a "free" profit of 5% for the mere fact that they can afford it.

Don't get me wrong, I fully support giving the rich advantages over the poor. I recognize the need to consolidate money/power to the hands of the few. But I would hope the discount comes with some additional conditions, such as not being able to sell their shares immediately on AE when the asset is launched for public trading.
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TwinWinNerD

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Lock them in for 1 month ;)

Cassius

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I understand the discount for the NXT organizations, but I have some doubts about a general discount to big buyers.

Someone can just buy 25k at 9.50, and then put it up for sale at 9.99, as soon as you launch it on AE. You are giving these people a "free" profit of 5% for the mere fact that they can afford it.

Don't get me wrong, I fully support giving the rich advantages over the poor. I recognize the need to consolidate money/power to the hands of the few. But I would hope the discount comes with some additional conditions, such as not being able to sell their shares immediately on AE when the asset is launched for public trading.

The intention was very much that Nxt organisations like Nxt Foundation, NXTer, etc, would buy and hold as a long-term revenue source, which they very much need. That much is implicit in OP and our discussions with them.
The reality is that you can't force someone to hold because it's crypto and you have control over your own money. That's why we didn't specify it as a condition: because you wimply can't enforce it.
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TwinWinNerD

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Just don't send it out for 1 month.

Cassius

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Not really - I've just included them for the sake of completeness and gauging overall demand. I also wanted to register my own interest for the sake of transparency, but my bid was below 25k, which I suppose gave other people a cue to do the same.

Ok, then some of us definitely misunderstood. Could you please confirm as soon as it is clear that pre-orders below 25K are not effective? Or if they are, whether discount can be applied or they follow AE launch price?

Thank you.

Apologies for any misunderstanding, but this should be clear from OP. Discount assets are offered to large buyers (25k+) with priority given to Nxt organisations. All other assets after the first 200k (8 tranches of 25k discount assets) will be sold on AE. I've simply been continuing to list everyone who is interested because it's possible one or more people might drop out.
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Cassius

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Just don't send it out for 1 month.

This isn't a bad idea but that long a delay shouldn't be necessary. Because we need to give buyers a little grace time to pay, I imagine the rest should be sold out by the time we send them their assets.
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TwinWinNerD

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Just don't send it out for 1 month.

This isn't a bad idea but that long a delay shouldn't be necessary. Because we need to give buyers a little grace time to pay, I imagine the rest should be sold out by the time we send them their assets.

1 month was an arbitrary time period. but for example send it out AFTER the 10 NXT offering has been sold out. thats very fair.

Cassius

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Just don't send it out for 1 month.

This isn't a bad idea but that long a delay shouldn't be necessary. Because we need to give buyers a little grace time to pay, I imagine the rest should be sold out by the time we send them their assets.

1 month was an arbitrary time period. but for example send it out AFTER the 10 NXT offering has been sold out. thats very fair.

Yes. I think this would happen anyway due to the probable delays in payment.
In any case, looking at overall demand I imagine not many people would flip for 5% only.
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maddy83

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Just don't send it out for 1 month.

This isn't a bad idea but that long a delay shouldn't be necessary. Because we need to give buyers a little grace time to pay, I imagine the rest should be sold out by the time we send them their assets.

1 month was an arbitrary time period. but for example send it out AFTER the 10 NXT offering has been sold out. thats very fair.

Good idea, I agree.
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yassin54

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@Cassius  you can change my offer,i need 25k
Thanks

capodieci

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Apologies for any misunderstanding, but this should be clear from OP. Discount assets are offered to large buyers (25k+) with priority given to Nxt organisations. All other assets after the first 200k (8 tranches of 25k discount assets) will be sold on AE. I've simply been continuing to list everyone who is interested because it's possible one or more people might drop out.

I guess I should fit in?

If so, let me know where I have to transfer the NXT :)

R
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Cassius

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Apologies for any misunderstanding, but this should be clear from OP. Discount assets are offered to large buyers (25k+) with priority given to Nxt organisations. All other assets after the first 200k (8 tranches of 25k discount assets) will be sold on AE. I've simply been continuing to list everyone who is interested because it's possible one or more people might drop out.

I guess I should fit in?

If so, let me know where I have to transfer the NXT :)

R

Yes, Debune should get a discount tranche. We'll let people know when the asset has been created (we haven't done that yet, to stop silly things happening on AE in advance of the launch).
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Cassius

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@Cassius  you can change my offer,i need 25k
Thanks

Obviously changing your order now would defeat the point of having such a record :)
It looks like you'll need to buy on AE, in any case, since the discount assets are oversubscribed.
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yassin54

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@Cassius  you can change my offer,i need 25k
Thanks

Obviously changing your order now would defeat the point of having such a record :)
It looks like you'll need to buy on AE, in any case, since the discount assets are oversubscribed.
No problem
Thanks

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@Cassius - this a post o.b.o NXTFoundation as Damelon is AFK..

NXTFoundation would like to take up 10k of assets if possible...

We could like it to be more but after Payexpo funds are somewhat depleted so this is what can be afforded and still keep funds for the short term while we rebuild.

NXTi will escrow the transaction (for free) until Damelon is back.

BR
Chanc3r
NXTi / NXTFoundation
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Cassius

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E9 will launch on July 9, 9am UTC. You can start placing your bids at the following ID 5056017329645101426 (EIX).
« Last Edit: July 08, 2015, 09:30:30 am by Cassius »
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coinomat

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It will launch AROUND that time, to avoid some crazy scramble. Also asks will be set in batches to make things go more smoothly.
everyone who wants to get in early should have a chance to do so (if they missed bulk sales)
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TwinWinNerD

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So you want to create a bid war?

Cassius

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So you want to create a bid war?

Not the idea. The AE is a slow trading engine. Releasing in tranches gives people time to adjust their bids if they want to. The alternative is for a few large buyers to take it all - probably just to sell it at a higher price anyway, creating their own bidding war.

Unfortunately, it has clearly been established that demand is in excess of supply. This way at least means it happens slightly more on our terms, and the resulting funds will be used for assetholders.

If you have a better idea of how to approach it, please say.
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TwinWinNerD

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So you want to create a bid war?

Not the idea. The AE is a slow trading engine. Releasing in tranches gives people time to adjust their bids if they want to. The alternative is for a few large buyers to take it all - probably just to sell it at a higher price anyway, creating their own bidding war.

Unfortunately, it has clearly been established that demand is in excess of supply. This way at least means it happens slightly more on our terms, and the resulting funds will be used for assetholders.

If you have a better idea of how to approach it, please say.

If the demand is higher than supply, why don't you adjust the price for ALL THE SHARES, so that you have a fair IPO and a bit more funds in hand. That is how EVERY IPO in the world is done...

Cassius

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All assets will be placed at 10. We can't stop people bidding above that.
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coinomat

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So you want to create a bid war?

Not the idea. The AE is a slow trading engine. Releasing in tranches gives people time to adjust their bids if they want to. The alternative is for a few large buyers to take it all - probably just to sell it at a higher price anyway, creating their own bidding war.

Unfortunately, it has clearly been established that demand is in excess of supply. This way at least means it happens slightly more on our terms, and the resulting funds will be used for assetholders.

If you have a better idea of how to approach it, please say.

If the demand is higher than supply, why don't you adjust the price for ALL THE SHARES, so that you have a fair IPO and a bit more funds in hand. That is how EVERY IPO in the world is done...
To raise the price to which level? Hard to evaluate that indeed.
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crumb-bum

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Are you still offering the rebate of 5% to those who reserved orders on this thread early enough, or have you scrapped that idea?
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crumb-bum

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O, I see now that you have a priority list for the discount. Okay, then, good luck and much success to you with this hedge fund!
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E9 will launch on July 9, 9am UTC. You can start placing your bids at the following ID 5056017329645101426 (EIX).

Thanks a lot for the notification. Just placed my bid. :)
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Cassius

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Discount sales are live - please contact coinomat for details if you have bought a discount tranche:
MMBTCD
Whale
Azeh
NXTer
Nxt Foundation
Debune
BTCOR
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Audo Kryptowitz

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Can you help a noob out?

How do I place bids? Can I see the bids others have placed? Do I need a full client to do that?

Thanks
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Cassius

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Can you help a noob out?

How do I place bids? Can I see the bids others have placed? Do I need a full client to do that?

Thanks

What client are you using at the moment? You can use SecureAE, the full NRS, or even Jones jnxt.org/nxt (I think).
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Audo Kryptowitz

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Can you help a noob out?

How do I place bids? Can I see the bids others have placed? Do I need a full client to do that?

Thanks

What client are you using at the moment? You can use SecureAE, the full NRS, or even Jones jnxt.org/nxt (I think).

Oh! It works with the jnxt.org/nxt site. For some reason the page is completely blank in secureAE (https://trade.secureae.com/#5056017329645101426). I can see all the other assets just fine. Little weird. :P

Thanks for the help.
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TwinWinNerD

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One word: "lol"

coinomat

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One word: "lol"
There was the whole order book of bids, why wait? This is IPO at fixed price, for the issuer it's the same, once the order book is filled.
Maybe we should try some kind of dutch auction for some future IPO's
Nothing is perfect, each method has its merits and drawbacks.
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TwinWinNerD

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One word: "lol"
There was the whole order book of bids, why wait? This is IPO at fixed price, for the issuer it's the same, once the order book is filled.
Maybe we should try some kind of dutch auction for some future IPO's
Nothing is perfect, each method has its merits and drawbacks.

Well, how ever you look at it..

Yesterday, you said:
- around 9am
- in tranches

now it went live at 8:25 in bulk.

Most people were still asleep and nobody could adjust their bid.

Mem-ber

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Are there more shares will be issued at à price of 10 nxt?
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JamesList

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Are there more shares will be issued at à price of 10 nxt?

unfortunately not
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Cassius

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Are there more shares will be issued at à price of 10 nxt?

We don't plan to issue more assets in the immediate future, and if we do, it won't be at 10. The ICO sold out with the highest bids at ~10.5.

However, one of the bulk buyers seems to have misread the ANN and sent 25k NXT, not 237,500 NXT for 25k assets. If that's the case and assuming he doesn't want the remainder, the best thing might be to sell those on AE, giving people a chance to bid for whatever they want, probably starting at 10.5. (We could work down the priority list, but some of those may have bought on AE anyway.)
Anyway, if those assets - should be ~22k - are free, we'll discuss the best thing to do with them.
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VanBreuk

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I totally missed such a short notice launch, my son decided to be born yesterday. Good luck to the promoters and the initiative.
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Cassius

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I totally missed such a short notice launch, my son decided to be born yesterday. Good luck to the promoters and the initiative.

Congratulations!
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13Darko

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Lol, some managed to get shares by placing  bid orders at 10.1001 NXT, though mine at 10.1 NXT wasn't filled... You have no conscience  :'(
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Cassius

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Lol, some managed to get shares by placing  bid orders at 10.1001 NXT, though mine at 10.1 NXT wasn't filled... You have no conscience  :'(

??
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13Darko

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Lol, some managed to get shares by placing  bid orders at 10.1001 NXT, though mine at 10.1 NXT wasn't filled... You have no conscience  :'(

??

Just kidding  ;)
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I totally missed such a short notice launch, my son decided to be born yesterday. Good luck to the promoters and the initiative.

Congratulations! That one is quite more than an investment! ;)

R
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I totally missed such a short notice launch, my son decided to be born yesterday. Good luck to the promoters and the initiative.

Congratulations! That one is quite more than an investment! ;)

R

And it's going to cost a lot more too...
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coinomat

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I totally missed such a short notice launch, my son decided to be born yesterday. Good luck to the promoters and the initiative.
Congratulations!!!
we must make sure you'll get some assets still!
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now it went live at 8:25 in bulk.

Most people were still asleep and nobody could adjust their bid.

Yes; I was one of them. That's why I "pre-adjusted" my bid before I fell asleep.
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Nxtblg

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I totally missed such a short notice launch, my son decided to be born yesterday. Good luck to the promoters and the initiative.

Congratulations from me too. :)
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VanBreuk

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Thank you all :) and sorry about the off topic, but I'm excited to start a new investments & savings account for him, just in case he wants to go to college and become a Nxt dev  ;D

Just placed a bid for some EIX.
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BTC-BTC-BTC

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It looks very good. I will get some.
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jeezy

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Sorry if this has been asked before, but will there be a website with the monthly summary like with LIQUID/MMNXT?
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Sorry if this has been asked before, but will there be a website with the monthly summary like with LIQUID/MMNXT?

Not in real time, at least not at first. While we're getting started we'll post updates here. It would be good to have a website for further information in due course.
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bots allready running or something to announce :) ?
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bots allready running or something to announce :) ?

Whale is trading, our fx guy is trading, coinomat is coding bots. NXT, BTC, DASH and LTC bots should be online by the end of the week.
Dividends will be biweekly, starting at the beginning of August.
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Dividends will be biweekly, starting at the beginning of August.

By "biweekly", do you mean once every two weeks?
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Cassius

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Dividends will be biweekly, starting at the beginning of August.

By "biweekly", do you mean once every two weeks?

Yes: fortnightly.

In other news, we're looking for someone to create a logo for our website. Take a look at the #job-offers channel on Slack if you're interested.
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Nxtblg

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Dividends will be biweekly, starting at the beginning of August.

By "biweekly", do you mean once every two weeks?

Yes: fortnightly.

Thanks.
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TwinWinNerD

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Yeah nice, BTCOR is marketdumping EIX already.

Slack convo:


twinwinnerd [12:46 AM]
Yeah nice, BTCOR is marketdumping EIX already.

infinitechaos [1:10 AM]
Are you sure? I'm on mobile at the moment so I can't look, but we didn't discuss nor approve selling EIX.

twinwinnerd [1:27 AM]
The account is labeled BTCOR

visual1 [1:45 AM]
that's a strange move

visual1 [1:45 AM]
sell for a 20% gain?

visual1 [1:45 AM]
interesting how 20% is so little in crypto

twinwinnerd [1:48 AM]
That's not the issue. They got to buy it with discount under the pretence (or so I thought) that it's an advantage to their portfolio long-term, but now they quickly sell and even do that with a market order instead of a limit order...

mxxxxxx [1:57 AM]
founder`s shares were used for swap and discount came from both sides, there needs to be some opportunity seen by the founder to exchange 10% of EIX holding for NXT, it wasn`t voted by the board, will check

house [2:34 AM]
@twinwinnerd: whats the problem?

house [2:58 AM]
_*twinwinnerd [8:57 AM] The account is labeled BTCOR*_

Actually... it is labeled BTCOR CEO... but I could relabel it 'House' if it would make you feel better

twinwinnerd [10:58 AM]
It doesnt matter how its labeled. They were bought with a discount for NXT organisations even though you reserved them extremely late. Now you double harm the price by market dumping part of them

twinwinnerd [11:08 AM]
@mxxxxxx: so actually it was not BTCOR that bought most shares and now the members are selling the shares? because I see ~ 4500 shares were transaferd to @damon

@chanc3r is this for real? They bought 50k shares on their own choice FOR BTCOR not for themselves. because there were 300000 private shares interested reserved before them

twinwinnerd [1:16 PM]
so you find it okay that BTCOR members skip the waiting list to get personal discounted EIX holding under the disguise of their NXT organisation?

house [1:17 PM]
You are jumping to conclusions twin.
You have no idea what you are talking about so best forget trying to guess

house [1:18 PM]
If you must know... I needed some cash out for personal reasons.. we are now dealing in-house so that we don't lose the assets alright

twinwinnerd [1:19 PM]
are you serious? "personal reasons"
« Last Edit: July 19, 2015, 11:23:07 am by TwinWinNerD »
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prometheus

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It's unfortunate but not something that E9 would have control over. Doesn't make BTCOR look good, imo
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It was a forced hand and it was not something we wanted to do. We are very excited about the e9 project. We will be keeping the rest. But please, don't jump to conclusions. The man with the moral compass, judge accordingly. Twin flips assets regularly and takes money out of NXT by paying dividends in BTC, after finding out we sold 5320 on the exchange threatens to sell 50,000 EIX in bulk. BTCOR brings money into NXT every month through the MS system, trades precious metals, bitcoin and fiat and converts all that trading into NXT and gives out NXT dividends, but sells 5320 EIX due to a forced hand. You be the judge.
« Last Edit: July 20, 2015, 06:43:18 am by 3rdStryker »
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PureVision

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Twin bought his share of 50000 on the ae at full price like the rest of us, not at a discount.
So he can sell them whenever he wants, like everybody else that stood in line and bought at the full price.

The shares House sold where bought at a discount, a discount only viable for organisations btw.
The discount was not ment for personal shares, only for organisations to benefit from in the long term.
Btcor took advantage from this, buying assets as an organisation and then dividing the assets between the members.
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3rdStryker

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We did not purchase EIX assets with NXT, it was a share swap. IMO, BTCOR is underrated as it currently stands due to our asset holdings, dividends and unique system. It was a mutually beneficial share swap at equal value. That opinion can differ from the eye of the beholder obviously, but I don't think there was any special treatment here. 

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mxxxxxx [8:53 PM]
@twinwinnerd: House secured e9 assets with his founder`s shares, personal funds yes, next btcor treasury has to aquire those assets with the money collected through standard assets sales to enable all shareholders to receive divs from e9.  e9 team cares about btcor assets in hope it will bring additional divs for e9 investors in the future and made swap at good discount. Cassius or any of e9 team members wasn`t aware if they are receiving founder shares or not and it doesn`t have any influence on divs from them as they are still btcor shares and that is what they cared about.  House sold some yes and you can blame him for it if you like as he needed part of his personal funds back atm. It still doesn`t have to do anything with e9. Damon is one the people securing it further without need to be sold on exchange before btcor treasury is able to aquire it. BTCOR circle jerkers are actually helping.

twinwinnerd [9:03 PM]
what I see is, that BTCOR traded at an average of 21.x NXT and with the discounted 9.5NXT/EIX price, E9 paid 20 NXT per BTCOR, so hardly a good discount, considering the bulk size and the fact that a discount on the EIX price was in place. Second, house market dumps the shares he just has because of the swap. What would he have done if there was no swap? dump BTCOR? Not possible because of the laughable market depth

twinwinnerd [9:04 PM]
I don't care anymore, with the desaster at the initial offering and this, I decided to leave this assets. If in the first 2 weeks there is already so much strange things going on, I rather leave ASAP to not get burned.

mxxxxxx [9:08 PM]
btcor and e9 are aiming for much bigger prices in near future and both see big potential in each other but i won`t be persuading you otherwise, it is your choice, they are both starters and best would be to check results first

infinitechaos [9:09 PM]
Have you already found a buyer for your e9? If not, you’re kind of shooting yourself in the foot by calling this a disaster.

twinwinnerd [9:09 PM]
the disaster of the initial offering is already well known

twinwinnerd [9:10 PM]
also I hope both ventures turn out well, but I won't risk it myself, with that much funny business going on

infinitechaos [9:12 PM]
I don’t really understand what the problem is. Someone sold. That’s what happens in a market.

infinitechaos [9:12 PM]
¯\_(ツ)_/¯

mxxxxxx [9:12 PM]
let the results speak from themselves, i hope too both ventures will do well and will do my best to make it happen together with both teams

infinitechaos [9:13 PM]
I’ve seen you flip assets plenty of times.

twinwinnerd [9:14 PM]
yes, because I buy them with under that pretence.

Cassius

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The asset swap with BTCOR was a business decision, though I view them as a strategic Nxt organisation for the reasons described by 3rdStryker above.

As I've also said before, I would love for holders to be in it for the long term, but of course there is no way of enforcing this and, if there was, it would be pretty undesirable (Chinese government, take heed). If early buyers want or need to sell, well, that's up to them. If that interferes with someone else's desire to sell at a given price - Not My Circus, Not My Monkeys.

We will of course aim to facilitate off-exchange trades of large amounts if we can, but I'm not going to pretend I can control the uncontrollable.
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jeezy

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Let's see what the first div looks like  8)
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Cassius is away so I'll report the dividend.

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  54261NXT to 67 assetholders
Based on ownership at timestamp 53127210 (Sat, 01 Aug 2015 09:33:30 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): E9 first dividend payment

Overall, we're pleased with the first dividend and progress. However, there were some factors that will change by the next dividend. Notably all of the funds will be in use from today (we weren't utilizing all of the NXT in the account) and bots will be running for the full period. Therefore, the next dividend in two weeks time (fortnightly dividends) will give you a better indication of what you can expect from E9. As a result, we've included a bonus in the dividend (reinvestment + management funds).
   

« Last Edit: August 01, 2015, 10:06:38 am by whale »
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dividend received! better than expected. we'll see if the next is similar.
Good work guys

Rubén

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dividend received! better than expected. we'll see if the next is similar.
Good work guys

Rubén

+1

thanks Whale.
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Cassius is away so I'll report the dividend.

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  54261NXT to 67 assetholders
Based on ownership at timestamp 53127210 (Sat, 01 Aug 2015 09:33:30 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): E9 first dividend payment

Overall, we're pleased with the first dividend and progress. However, there were some factors that will change by the next dividend. Notably all of the funds will be in use from today (we weren't utilizing all of the NXT in the account) and bots will be running for the full period. Therefore, the next dividend in two weeks time (fortnightly dividends) will give you a better indication of what you can expect from E9. As a result, we've included a bonus in the dividend (reinvestment + management funds).
   

Thanks for the dividend and the report. :)
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As I understand it correctly, this is asset is created to support the Nxt Ecosystem. I want to support it too, but I can't buy any asset from the issuer anymore. How can E9 profit it I buy some on the exchange (apart from holding the price high)?
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As I understand it correctly, this is asset is created to support the Nxt Ecosystem. I want to support it too, but I can't buy any asset from the issuer anymore. How can E9 profit it I buy some on the exchange (apart from holding the price high)?

Hey Farl, good question.
There may be further asset issues in the future, though at higher prices and we haven't really discussed that yet.
As far as I can see, there's no way of directly benefitting E9 through a new investment. Indirectly, better distribution is good. E9 was always supposed to be a buy-and-hold asset for the dividends, which will compound over time, so we very much hope to reward early buyers who hold long-term. Of course, lots of people bought for short-term profit; nothing you can do to stop that, but they will miss out on the compounding divs.
Last I checked there was a big sell wall @ 13 on AE. It's not a bad price for this stage, I think.
Next div day we'll donate 1% to a Nxt organisation we want to support - feel free to make suggestions for that, too.
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farl4bit

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As I understand it correctly, this is asset is created to support the Nxt Ecosystem. I want to support it too, but I can't buy any asset from the issuer anymore. How can E9 profit it I buy some on the exchange (apart from holding the price high)?

Hey Farl, good question.
There may be further asset issues in the future, though at higher prices and we haven't really discussed that yet.
As far as I can see, there's no way of directly benefitting E9 through a new investment. Indirectly, better distribution is good. E9 was always supposed to be a buy-and-hold asset for the dividends, which will compound over time, so we very much hope to reward early buyers who hold long-term. Of course, lots of people bought for short-term profit; nothing you can do to stop that, but they will miss out on the compounding divs.
Last I checked there was a big sell wall @ 13 on AE. It's not a bad price for this stage, I think.
Next div day we'll donate 1% to a Nxt organisation we want to support - feel free to make suggestions for that, too.

Thanks a lot. I will buy for indirect support and dividend.
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Coinomat just processed the dividend. Cassius is on holiday  8)

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  108780NXT to 83 assetholders
Based on ownership at timestamp 54341592 (Sat, 15 Aug 2015 10:53:12 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): E9 dividend payment

+ Significant dividend increase, which means our strategies are working as expected.

- Stability issues affected polo bots at times from increased server load - this should now be fixed.
- Fund allocation is still being optimized.
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just wow, thanks whale :)
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about a 1.9% div according to my calcs


very nice
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Add my thanks to the list. :)
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peggy2jj

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very nice one
Thanks
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Shouldnt divs have been paid this weekend?
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KarlKarlsson

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Shouldnt divs have been paid this weekend?
Tomorrow. Always 1st and 15th each month.
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Shouldnt divs have been paid this weekend?
Tomorrow. Always 1st and 15th each month.

Oh, ok. Thought biweekly would be every other saturday. My mistake.  :)
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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #128 on: September 01, 2015, 10:17:20 am »

Well, it's dividend day, and it looks like another good one. Total revenues were in excess of 250k NXT, of which 29% will be reinvested in E9 to compound returns - somewhere in the region of another $500 to generate greater revenues next time. 15% goes to management and we are again giving 1% to NXTer.org. Remember that you can suggest recipients for the 1% donation - if there are several, we can vote on which people want.

It's been a good fortnight and this is our highest div to date. Coinomat's bots did well, especially with the high volumes of ETH, and our FX trader also did well despite some pretty brutal China-related conditions over the last couple of weeks. Whale closed some profitable trades in crypto and we have some others in the pipeline, including SIA and Ripple - hopefully they can be included in next fortnight's dividend.

The remaining 55% of income is dividended out as follows:
EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  137175NXT to 90 assetholders
Based on ownership at timestamp 55807743 (Tue, 01 Sep 2015 10:09:03 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

EIX is still looking pretty undervalued. If you bought at 15 NXT, the current price, you would have received 0.24 NXT per asset or a yield of 1.6% - and our dividends are fortnightly, not monthly. For those who bought at ICO, of course, it's a lot better. We're still new and establishing ourselves, but I'm not sure if there are many assets that can compete with that.
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MrCluster87

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #129 on: September 01, 2015, 11:17:07 am »

Quote
we are again giving 1% to NXTer.org.

Thanks Cassius!!

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #130 on: September 01, 2015, 12:47:08 pm »

Nice dividends!thanks! So happy with this asset ;D

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #131 on: September 01, 2015, 01:05:07 pm »

Thanks Cassius, nice dividends  :)

Just something i feel i need to add: you do know the terms biweekly and forthnightly are pretty ambiguous, right? Especially when dealing with an international community.

But just to make sure:

I'm assuming now that this asset pays twice a month, 24 times a year, and not every two weeks, 26 times a year?

And biweekly could even mean 104 times a year, depending on where you live...
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Cassius

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #132 on: September 01, 2015, 01:28:40 pm »

Thanks Cassius, nice dividends  :)

Just something i feel i need to add: you do know the terms biweekly and forthnightly are pretty ambiguous, right? Especially when dealing with an international community.

But just to make sure:

I'm assuming now that this asset pays twice a month, 24 times a year, and not every two weeks, 26 times a year?

And biweekly could even mean 104 times a year, depending on where you live...

You are absolutely right, apologies for the ambiguity.
We pay on the 1st and 15th of every month.
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MJ79

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #133 on: September 01, 2015, 01:38:39 pm »

You are absolutely right, apologies for the ambiguity.
We pay on the 1st and 15th of every month.

Thanks for the clarification Cassius!

Now where did the cheap EIX go to reinvest my dividends?  >:(
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farl4bit

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #134 on: September 02, 2015, 04:21:44 pm »

Thank you for the dividend! :)
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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #135 on: September 15, 2015, 09:01:08 am »

It's dividend day again.

This fortnight has seen a solid but not stellar performance for E9. Coinomat's bots have continued to function well. ETH volumes are far lower than they were, and Poloniex has been having DDoS problems, but BitShares volumes have been up and there are profits from a SIA purchase for the bots.

FX profits are broadly in line with last time. We also have a couple of open alt trades, which whale hopes to close in the next fortnight. After 29% deduction for reinvestment, 15% management fee and 1% donation to Nxt Community Funds, we have:

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  110985NXT to 96 assetholders
Based on ownership at timestamp 57012941 (Tue, 15 Sep 2015 08:55:41 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

Thanks for holding. Do drop into our Slack channel and let us know if you have any ideas or feedback.
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coinomat

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #136 on: September 15, 2015, 09:21:10 am »

will be sent in a short while, div plugin glitch.
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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #137 on: September 15, 2015, 09:36:41 am »

Sorry, got ahead of things - posted the info but the div was delayed due to client problems. Will be distributed shortly...

EDIT: dividend underway. It was distributed as two separate payments. Hopefully we can sort the div plug-in issue for next time, making payments a little smoother.
« Last Edit: September 15, 2015, 10:09:40 am by Cassius »
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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #138 on: September 15, 2015, 10:19:32 am »

I have a DeBune dividend to pay since a week ago, and I am stuck as I don't want to use the NRS system as it doesn't shows up inthe transaction list, and I don't know what tu use... what you guys are using?
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Cassius

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #139 on: September 15, 2015, 10:23:13 am »

I have a DeBune dividend to pay since a week ago, and I am stuck as I don't want to use the NRS system as it doesn't shows up inthe transaction list, and I don't know what tu use... what you guys are using?

It was a mess this time - I'm not sure what coinomat ended up doing but he mentioned processing it 'manually', which is definitely not good...
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capodieci

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #140 on: September 15, 2015, 10:49:29 am »

I have a DeBune dividend to pay since a week ago, and I am stuck as I don't want to use the NRS system as it doesn't shows up inthe transaction list, and I don't know what tu use... what you guys are using?

It was a mess this time - I'm not sure what coinomat ended up doing but he mentioned processing it 'manually', which is definitely not good...

I made a shell script that use curl to post the requests to the API locally. :'(

Scared to run it hahahaha
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martismartis

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #141 on: September 15, 2015, 11:52:38 am »

I have a DeBune dividend to pay since a week ago, and I am stuck as I don't want to use the NRS system as it doesn't shows up inthe transaction list, and I don't know what tu use... what you guys are using?

It was a mess this time - I'm not sure what coinomat ended up doing but he mentioned processing it 'manually', which is definitely not good...


I made a shell script that use curl to post the requests to the API locally. :'(

Scared to run it hahahaha

Use core dividends payment, 1.6.0e already have account ledger where dividends receivers can check paid dividends.
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capodieci

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #142 on: September 15, 2015, 12:03:54 pm »


Use core dividends payment, 1.6.0e already have account ledger where dividends receivers can check paid dividends.

Is this a different dividend payment function in 1.6, or is a different transaction history function in 1.6?

If it is a different payment payment routine, then even if users still use 1.5.x they can see they have received the dividend payment (and this means I need to use the 1.6 to process the dividend payment, but if it is a different way to see the transaction history that includes the dividend payment, this means that only users with the 1.6 will see that the dividend has been paid, thus not a viable solution :)
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martismartis

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #143 on: September 15, 2015, 12:17:59 pm »


Use core dividends payment, 1.6.0e already have account ledger where dividends receivers can check paid dividends.

Is this a different dividend payment function in 1.6, or is a different transaction history function in 1.6?

If it is a different payment payment routine, then even if users still use 1.5.x they can see they have received the dividend payment (and this means I need to use the 1.6 to process the dividend payment, but if it is a different way to see the transaction history that includes the dividend payment, this means that only users with the 1.6 will see that the dividend has been paid, thus not a viable solution :)

Core dividends payment exist in 1.5.x, just 1.5.x client do not show them. Solution for checking are dividends paid: use 1.6.e or open your account through http://jnxt.org/nxt/# and then Plugins-dividends.
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farl4bit

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #144 on: September 15, 2015, 12:40:02 pm »

Thx for the dividend!  :)
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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #145 on: September 15, 2015, 12:45:44 pm »

Core dividends payment exist in 1.5.x, just 1.5.x client do not show them. Solution for checking are dividends paid: use 1.6.e or open your account through http://jnxt.org/nxt/# and then Plugins-dividends.

That's correct. This means I need to send a message to every person that gets paid with instructions on how to go check the payment ;) The first time I paid the dividend I had no clue, and nobody noticed, very few at the end went to check. I need a system to pay the dividend based on the share status of a precise day (let say last Friday) and not today, and add a custom message for each dividend paid (different for each payment based on some calculations).

The only way I see this possible is with a shell script using curl to post the transaction to loclahost API. I am procrastinating the development of this as I am very busy :)

R
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martismartis

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Re: E9: Multistrategy Nxt hedge fund. Bots, fx, crypto trading and asset portfolio
« Reply #146 on: September 15, 2015, 01:12:04 pm »

Core dividends payment exist in 1.5.x, just 1.5.x client do not show them. Solution for checking are dividends paid: use 1.6.e or open your account through http://jnxt.org/nxt/# and then Plugins-dividends.

That's correct. This means I need to send a message to every person that gets paid with instructions on how to go check the payment ;) The first time I paid the dividend I had no clue, and nobody noticed, very few at the end went to check. I need a system to pay the dividend based on the share status of a precise day (let say last Friday) and not today, and add a custom message for each dividend paid (different for each payment based on some calculations).

The only way I see this possible is with a shell script using curl to post the transaction to loclahost API. I am procrastinating the development of this as I am very busy :)

R

Sorry, I didn't use this feature by myself (i didn't have any asset issued by me :) ), maybe somebody will jump in more familiar with core dividend feature.
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Cassius

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Dividend day....

It's not been the best fortnight. Our FX trader made less than usual, and we still have funds tied up in alt with open positions.
To compound this, the bots have needed a reorganisation. Poloniex's API has been temperamental, so many calls weren't going through. Coinomat has reprogrammed the bots to swing trade as well as pure marketmaking. This should work a lot better in future, but the new bots have only been operating for a few days, so this fortnight's income from bots is lower than usual too.

What we've decided to do is forego our management fees of 15% this time, and dividend out the whole amount - we haven't reinvested the usual 29%. This brings the dividend back up to something like last time. It's not something we'll make a habit of, since compounding our funds is a key strategy for growth, but we think this week was an anomaly.

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  101572.02NXT to 97 assetholders
Based on ownership at timestamp 58399148 (Thu, 01 Oct 2015 09:59:08 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): E9 dividend
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Jukie

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Thanks for the dividends anyway  :)

Hope things pick up again for next time.
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jeezy

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Thanks for shipping the extra 34% to your shareholders. Please make sure the asset stays safe and future proof tho. We can take some hits, let the shaky hands exit imho.
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Cassius

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Thanks for shipping the extra 34% to your shareholders. Please make sure the asset stays safe and future proof tho. We can take some hits, let the shaky hands exit imho.

Yes, this was a one-off to say thank you to our assetholders and reflect the circumstances this week. We didn't pay out anything from our core funds, only distributed the 15% management fees we would usually deduct and the 29% profits that would usually go back in - which was a relatively small amount this time.

We'll see where things go next week. FX by its nature is uncertain, but I'd hope for better revenues. The bots should be more stable now on their new routine. And we've already picked up 14k NXT from the assets we hold (now all in account NXT-DXAC-MMDK-B74A-ALTPZ), thanks to CORE dividends and the E9 assets that E9 itself holds. The alt market is looking pretty miserable, but of course there's no saying what might happen there.
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Dividend day.

It's been a pretty tough month for our trader, Mister Slave, but there have been some gains there. Coinomat's bots have been doing well in horrible conditions for the alts. And whale has made a few asset trades while we hold onto our Sia position.

NXT is pretty much at an all-time low, which boosts the div somewhat in NXT terms. So, back to our normal routine of reinvesting 29% and taking a management fee. We're also using our 1% donation this time to buy TNSSE - please think about donating if you haven't already. https://nxtforum.org/general-discussion/%28marketing-business-and-development%29-the-tennessee-project-fundraiser/

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  123362NXT to 105 assetholders
Based on ownership at timestamp 59606359 (Thu, 15 Oct 2015 09:19:19 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): E9 dividend
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Jukie

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Thanks Cassius.

Lot better result than last time  :)
« Last Edit: October 15, 2015, 04:30:23 pm by Jukie »
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capodieci

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Hello everyone! At DeBuNe we need to collect some funds as we are looking at some extra expenses (for good things tho).

I will need to monetise, and I plan things per time. I am thinking to convert back in NXT the E9 asset we have invested on. I don't want to go through AE to avoid lowering the value with a dump.

If someone wants to buy, please message me.

Roberto
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Code: [Select]
processed the dividend:
EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  131500NXT to 107 assetholders
Based on ownership at timestamp 60996161 (Sat, 31 Oct 2015 11:22:41 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

Cassius

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It's been a pretty reasonable fortnight. Though there's slim pickings from alts trading and the FX revenues were moderate, coinomat's bots have performed well and, of course, the lower NXT price helps.

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  131500NXT to 107 assetholders
Based on ownership at timestamp 60996161 (Sat, 31 Oct 2015 11:22:41 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

With 578,200 assets in play and a total dividend of 131,500, this makes for 0.227 NXT per asset. With a current price of around 19 NXT, this is a yield of around 1.20% per fortnight (twice a month), 2.4% per month or 29% annually.
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Cassius

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It's going to be a lower dividend this fortnight. The BTC volatility has made for bad alt-trading conditions. Also, the volatility was too high for the marketmaking bots, which work best on relatively stable prices. Coinomat had to switch them off for a couple of days because it was too risky. He's actively researching other options while that situation lasts, including BTC/USD arbitrage across different exchanges. We'll keep you posted. All the same:

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  89800NXT to 108 assetholders
Based on ownership at timestamp 62209950 (Sat, 14 Nov 2015 12:32:30 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend
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Jukie

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Cant really complain if even a bad month means a ~18% annual roi.  :)
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Statement about our holdings. I've given total holdings and NXT equivalent at the current BTC/NXT rate of 1833 sats (Polo).

Issuer account. Dividends and management payments are made from this account.
25,748 NXT
Portfolio account. This contains our revenue-generating Nxt assets.
Cash: 13,029 NXT
Assets:
EIX: 6,000 @ a conservative bid/ask average of 20 NXT = 120,000 NXT
NxtInspect: 40,000 @ 3 NXT = 120,000 NXT
CORE: 25,000 @ 37 NXT = 925,000 NXT

Alts:
42,377,558 SIA [138,715 NXT]
45,571 XRP [31,201 NXT]
0.45 BTC [24,550 NXT]

Bots (due to current lack of activity in the alt market, we will be moving all of these except for ETH into BTC, to trade USD/BTC):
360,000 NXT
27 BTC [1,472,995 NXT]
590,000 BTS [309,323 NXT]
3,000 ETH [397,957 NXT]

Total: 3,938,518 NXT

This omits FX funds. We will make a statement about that in due course.

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Cassius

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We've had some bad news, I'm afraid. EIX's forex account was hacked, along with LQD's, and all of Mike's personal funds. You can find more details here: https://nxtforum.org/news-and-announcements/lqdeix-loss-of-forex-funds/

Please ask questions in that thread, since Mike and Liberty will know more about the detail, and there will then be one place people can find information.

As you'll see from our balance report, this represents around 20% of EIX funds. In NXT terms, we have roughly the amount of money we originally raised at ICO. We'll discuss the way forward for this, but at the moment it looks like a nasty but not fatal blow.
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It's been a tough fortnight, for reasons explained above and elsewhere. We're very keen to replenish our reserves, so we've continued to reinvest 29% rather than pay this out.

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  46750NXT to 107 assetholders
Based on ownership at timestamp 63673624 (Tue, 01 Dec 2015 11:07:04 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

Coinomat has retooled the bots for USD/BTC arbitrage, since this is clearly where the action is at present. We also have a new initiative in the pipeline. Arbitrage revenue is pretty stable, whether we use 30 BTC or 300. There is therefore scope for holders to lend us BTC and split the revenue generated (realistically 3% per month) between the lender and EIX. We'll know more once the bots have been more thoroughly tested, but it could be a nice way to hold BTC and take advantage of trading volumes and volatility.
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prometheus

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]
Coinomat has retooled the bots for USD/BTC arbitrage, since this is clearly where the action is at present. We also have a new initiative in the pipeline. Arbitrage revenue is pretty stable, whether we use 30 BTC or 300. There is therefore scope for holders to lend us BTC and split the revenue generated (realistically 3% per month) between the lender and EIX. We'll know more once the bots have been more thoroughly tested, but it could be a nice way to hold BTC and take advantage of trading volumes and volatility.

this is an interesting idea
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]
Coinomat has retooled the bots for USD/BTC arbitrage, since this is clearly where the action is at present. We also have a new initiative in the pipeline. Arbitrage revenue is pretty stable, whether we use 30 BTC or 300. There is therefore scope for holders to lend us BTC and split the revenue generated (realistically 3% per month) between the lender and EIX. We'll know more once the bots have been more thoroughly tested, but it could be a nice way to hold BTC and take advantage of trading volumes and volatility.

this is an interesting idea

It is, and it could be a good way to move forwards under the current circumstances.
We will know more in due course, once the bots have been tested further. If all goes well, we'll look for a handful of major investors in January. (Smaller numbers of large investors are preferred simply to make admin easier.)
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EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  62100NXT to 107 assetholders
Based on ownership at timestamp 64881270 (Tue, 15 Dec 2015 10:34:30 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

It's a low div again this time, but we've got some interesting developments that will be coming online in January.

Coinomat has re-coded the bots for BTC/USD arbitrage. With our current bots holding of 25 BTC, he has managed to make almost 1 BTC in the last fortnight (accounting for all of our div this time as alts are still crashing and our FX is out). This can scale many times over.

We would like to gauge interest for larger BTC holders to invest in the bots. The deal would be that they would keep half the proceeds (~4% per month), with the rest going to EIX. Because it is arbitrage, there is no liquidity issue and people can get their BTC back as fast as coinomat can process the withdrawal. It is low-risk in terms of trading, because the buy/sell goes through at the same time. The major risk is exchange hack; coinomat obviously uses 2FA but another large hack can never be ruled out.

If any large BTC holders want to get involved, please drop us a line or show up on #e9-fund Slack channel.
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Cassius

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There's a dividend due today, but we need to delay until tomorrow. We're expecting a couple of payments to come in, particularly one from NXTinspect, but it's been delayed for administrative reasons. We'd really like to include it this time around!
Will update you tomorrow but hopefully we can pay as normal then.
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As expected, it's a smaller div than usual. A couple of reasons:
1) Lower volumes in the BTC/USD markets over Christmas. Hopefully we'll see more activity in the new year.
2) We were expecting divs from CORE and NxtInspect to come in yesterday. CORE will presumably come in over the next day or two, but NXTi will be delayed. It's a substantial dividend, but it's in assets and they don't want to pay the fees associated with distributing them. It looks like they may end up selling and dividending out the NXT instead, which could take a while. So:

EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  43500NXT to 112 assetholders
Based on ownership at timestamp 66437808 (Sat, 02 Jan 2016 10:56:48 GMT)
Message included-->Dividend from asset EIX(5056017329645101426): EIX dividend

Two more positive bits of news.
We're looking at merging MMNXT and EIX under a new asset, provisionally called NEXT. This makes sense for all sorts of reasons. It means there is no uncertainty over which asset trades on which exchanges and what they're doing, so there's no conflict of interests. It also allows for better economies of scale in arbitrage thanks to the combined funds. Their yields are roughly the same, and both have a ~25% buyback/reinvest programme, so that can be continued in the interests of raising NAV continually. We'll give more details on the redeem process in due course.

Secondly, BTC/USD arbitrage is by far our most lucrative opportunity at the moment. Coinomat is targeting 4% per month with the BTC funds we have. We would like to raise more money without issuing further assets, so are looking at an initiative where people lend us BTC and we split the arbitrage revenues 50/50 with them - half goes to the lender, half to the fund. It is a low-risk activity (never no-risk, due to factors like exchange hack, etc). We hope to attract a few BTC whales and dolphins, ideally minimum 10 BTC but potentially 100 or more. Please contact coinomat on Slack if you are interested.

Edit: oops, turns out CORE did send out their divs yesterday after all - we didn't see it because it was an invisible one. We're just deciding whether to div it out now (~12,700) or hold it over for next time
« Last Edit: January 02, 2016, 11:30:17 am by Cassius »
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Seccour

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We're looking at merging MMNXT and EIX under a new asset, provisionally called NEXT. This makes sense for all sorts of reasons. It means there is no uncertainty over which asset trades on which exchanges and what they're doing, so there's no conflict of interests. It also allows for better economies of scale in arbitrage thanks to the combined funds. Their yields are roughly the same, and both have a ~25% buyback/reinvest programme, so that can be continued in the interests of raising NAV continually. We'll give more details on the redeem process in due course.

Will asset holder be able to vote about that ? And if yes, will you provided the exchange price for MMNXT / NEXT and EIX / NEXT before the vote ?
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Cassius

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We're looking at merging MMNXT and EIX under a new asset, provisionally called NEXT. This makes sense for all sorts of reasons. It means there is no uncertainty over which asset trades on which exchanges and what they're doing, so there's no conflict of interests. It also allows for better economies of scale in arbitrage thanks to the combined funds. Their yields are roughly the same, and both have a ~25% buyback/reinvest programme, so that can be continued in the interests of raising NAV continually. We'll give more details on the redeem process in due course.

Will asset holder be able to vote about that ? And if yes, will you provided the exchange price for MMNXT / NEXT and EIX / NEXT before the vote ?

We will discuss, and please swing by Slack for a more interactive discussion. But for the sake of clarity, I think it's something that really needs to happen. There's too much room for confusion and potential overlap of services.
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jeezy

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We're looking at merging MMNXT and EIX under a new asset, provisionally called NEXT. This makes sense for all sorts of reasons. It means there is no uncertainty over which asset trades on which exchanges and what they're doing, so there's no conflict of interests. It also allows for better economies of scale in arbitrage thanks to the combined funds. Their yields are roughly the same, and both have a ~25% buyback/reinvest programme, so that can be continued in the interests of raising NAV continually. We'll give more details on the redeem process in due course.

Will asset holder be able to vote about that ? And if yes, will you provided the exchange price for MMNXT / NEXT and EIX / NEXT before the vote ?

We will discuss, and please swing by Slack for a more interactive discussion. But for the sake of clarity, I think it's something that really needs to happen. There's too much room for confusion and potential overlap of services.

Makes sense. Please keep us up to date on the procedure.
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EIX to merge with MMNXT; BOND to launch

Trading funds E9 (EIX) and MMNXT are merging under a single fund, NEXT. This will allow better use of combined funds, more clarity and no conflict of interest between the activities of the two funds. At the same time, a new bitcoin bond (BOND) will launch to generate further revenues for NEXT and directly for BOND holders through arbitrage on BTC/USD exchanges.

BOND - asset id 7105354913147670050
Arbitrage across bitcoin exchanges currently yields returns of up to 4% monthly. 1 BOND will represent 1 bitcoin (SuperBTC) on the Asset Exchange, with a guaranteed monthly payout of 2% in superBTC. The remaining income will go to NEXT assetholders. BOND may be redeemed for SuperBTC at any time by sending back to the issuing account. They can also be traded on the AE’s secondary market. BOND will pay monthly, on the first of the month.

PROCEDURE:​ ​
​Deposit:​​ When you want to invest in BOND, simply send superBTC to ​NXT-ESXQ-5QFC-ARPP-HG2C7​ and you will receive the equivalence in BOND (1:1). ​​Withdrawal:​​ When you want to withdraw your superBTC, simply send your BOND to ​NXT-ESXQ-5QFC-ARPP-HG2C7​ and we will send the equivalence in BTC (1:1) to the senders address.

All reasonable security precautions are taken and arbitrage is low-risk, but investor funds cannot be guaranteed against theft or exchange hack.

MMNXT/EIX asset swap for NEXT
MMNXT and EIX will be combined into a single asset, NEXT, which will pay out twice a month (1st and 15th) in NXT.

A total of 10% of active NEXT assets will be reserved for management payments. 25% of the total NEXT issue will be reinvested to grow the fund (similar to EIX’s current 29% reinvest and MMNXT’s 25% buyback). It makes sense for NEXT to hold 25% of NEXT’s assets to automate this.

A total of 1 million NEXT will be issued, with 15% being held back for future asset sales if required (there is no immediate intention to sell more assets). Of the 850,000 active assets, a total of 35% will be retained for management and reinvestment (85,000 + 212,500 = 297,500).

This leaves 552,500 NEXT assets for swap with existing MMNXT and EIX assets. No MMNXT or EIX assets are currently retained for management payments, only founder shares. (EIX currently reserves 15% of income for management payments as well as 29% for reinvestment.)

EIX price: 14.5. Assets issued: 568,200. MMNXT price: 1.15. Assets issued: 8,648,144. Total combined market cap of MMNXT and EIX is therefore estimated at around 18 million NXT; there is some daily variation. Thus 552,000 NEXT assets will be swapped in proportion to MMNXT and EIX market cap, at 32.6 NXT per NEXT, with each being worth around 21 NXT when considering all 850,000 active NEXT assets.

2.3 EIX per NEXT = 247,043 NEXT assets swapped for EIX
29 MMNXT per NEXT = 298,212 NEXT assets swapped for MMNXT
Total: 545,255. The remaining 6,745 assets will be retained by NEXT for reinvestment, bringing the fund’s total of its own assets to 25.8%.

The asset swap will begin on 16th January, after EIX’s next dividend. BOND will launch shortly.

Further details will be posted in due course.
« Last Edit: January 13, 2016, 02:17:53 pm by Cassius »
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farl4bit

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Thanks for the info, a lot info for me, but I will keep an eye on this topic for the swap.  ::)
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jeezy

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The asset swap will begin on 16th January, after EIX’s next dividend.

Will this be an automated process or do we need to do something?
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Jukie

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No more 10 btc minimum for bond?
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taggartd

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Some questione about bond.

I have seen asset decimal is 8: so it s possible to buy  fraction of the assets like for example 0,1 bond. Correct?

It's already possibile to send superbtc to the address you wrote about?

Guaranted monthly payout 2%: if i understand correctly it means there is a fixed 2  % payout. the gain above 2% goes to next. If the gain is 1% the payout is always 2%. Correct?

When is scheduled the first payout?

 Cassius thanks in advance for the answers..
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Cassius

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Hi folks,
I'm away for a few days and won't be able to answer questions for a bit. Please check in with whale and coinomat if you need anything.
Briefly:
No minimum buy in now, as the asset makes admin easier
2% fixed payouts, yes. If we have a string of bad weeks we'll have to rethink but it should be sustainable now.
Asset swap - you'll need to send existing assets to the address coinomat will announce on 16th, after the next eix div tomorrow.
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yassin54

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From slack, By Whale:

Code: [Select]
EIX (5056017329645101426) Total issued assets: 1000000, Assets to be distributed to: 578200
Summary of proposed distribution of  37889NXT to 115 assetholders
Based on ownership at timestamp 67555792 (Fri, 15 Jan 2016 09:29:52 GMT)
Message included-->Dividend from asset EIX(5056017329645101426)
As most of you know, this will be the last EIX dividend. Swap details will be announced shortly[code]

Seccour

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Some questione about bond.

I have seen asset decimal is 8: so it s possible to buy  fraction of the assets like for example 0,1 bond. Correct?

It's already possibile to send superbtc to the address you wrote about?

Guaranted monthly payout 2%: if i understand correctly it means there is a fixed 2  % payout. the gain above 2% goes to next. If the gain is 1% the payout is always 2%. Correct?

When is scheduled the first payout?

Yes you can buy fraction of the assets. ( I did it )

Yes it's already possible to send superBTC to the address. ( I did it too )

I don't know

And i don't know :p
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farl4bit

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I send the EIX for the asset swap. Please send the NEXT to NXT-23AN-H49Y-PXEC-AK7XM.
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Cassius

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I send the EIX for the asset swap. Please send the NEXT to NXT-23AN-H49Y-PXEC-AK7XM.

It should be sent back to the same sending address, but it's a manual transfer so may take a day or so. Let us know if you don't see it after that long.
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farl4bit

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I send the EIX for the asset swap. Please send the NEXT to NXT-23AN-H49Y-PXEC-AK7XM.

It should be sent back to the same sending address, but it's a manual transfer so may take a day or so. Let us know if you don't see it after that long.

Got it! Thanks!
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Lagb

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What's that?

I sent 250 EIX to NXT-ESXQ-5QFC-ARPP-HG2C7 (transaction 5484219416991620959), to swap with 108,70 NEXT, and I received 108,69... ... EIX  ???

Please:
- round correctly: 250 / 2.3 = 108.69565 rounded to 108.70
- send me 108.70 NEXT

Thanks in advance.
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Cassius

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What's that?

I sent 250 EIX to NXT-ESXQ-5QFC-ARPP-HG2C7 (transaction 5484219416991620959), to swap with 108,70 NEXT, and I received 108,69... ... EIX  ???

Please:
- round correctly: 250 / 2.3 = 108.69565 rounded to 108.70
- send me 108.70 NEXT

Thanks in advance.

Oops - we'll chase it up. Thanks for letting us know.
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Lagb

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What's that?

I sent 250 EIX to NXT-ESXQ-5QFC-ARPP-HG2C7 (transaction 5484219416991620959), to swap with 108,70 NEXT, and I received 108,69... ... EIX  ???

Please:
- round correctly: 250 / 2.3 = 108.69565 rounded to 108.70
- send me 108.70 NEXT

Thanks in advance.

Oops - we'll chase it up. Thanks for letting us know.

Still no NEXT for my 250 EIX sent on Feb. 7th   ???
How long does it takes to sort it out ?
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Cassius

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What's that?

I sent 250 EIX to NXT-ESXQ-5QFC-ARPP-HG2C7 (transaction 5484219416991620959), to swap with 108,70 NEXT, and I received 108,69... ... EIX  ???

Please:
- round correctly: 250 / 2.3 = 108.69565 rounded to 108.70
- send me 108.70 NEXT

Thanks in advance.

Oops - we'll chase it up. Thanks for letting us know.

Still no NEXT for my 250 EIX sent on Feb. 7th   ???
How long does it takes to sort it out ?

I'll ask coinomat. Getting on the coinophone right now. (At night, it's easier to shine the big coino-lamp onto the clouds.)
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Lagb

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What's that?

I sent 250 EIX to NXT-ESXQ-5QFC-ARPP-HG2C7 (transaction 5484219416991620959), to swap with 108,70 NEXT, and I received 108,69... ... EIX  ???

Please:
- round correctly: 250 / 2.3 = 108.69565 rounded to 108.70
- send me 108.70 NEXT

Thanks in advance.

Oops - we'll chase it up. Thanks for letting us know.

Still no NEXT for my 250 EIX sent on Feb. 7th   ???
How long does it takes to sort it out ?

I'll ask coinomat. Getting on the coinophone right now. (At night, it's easier to shine the big coino-lamp onto the clouds.)

So I sent 250 EIX, I received no NEXT, I received no NEXT dividend on feb. 1st, no NEXT dividend on feb 15th... Why  ???

Is it only for me? Did I do something wrong?
If someone can explain, I would be pleased.
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Cassius

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What's that?

I sent 250 EIX to NXT-ESXQ-5QFC-ARPP-HG2C7 (transaction 5484219416991620959), to swap with 108,70 NEXT, and I received 108,69... ... EIX  ???

Please:
- round correctly: 250 / 2.3 = 108.69565 rounded to 108.70
- send me 108.70 NEXT

Thanks in advance.

Oops - we'll chase it up. Thanks for letting us know.

Still no NEXT for my 250 EIX sent on Feb. 7th   ???
How long does it takes to sort it out ?

I'll ask coinomat. Getting on the coinophone right now. (At night, it's easier to shine the big coino-lamp onto the clouds.)

So I sent 250 EIX, I received no NEXT, I received no NEXT dividend on feb. 1st, no NEXT dividend on feb 15th... Why  ???

Is it only for me? Did I do something wrong?
If someone can explain, I would be pleased.

I'm sorry about this, I'm not sure what has happened. I'll chase it again. We kept back a proportion of revenues for dividends for people who had not swapped yet, so you will get those.
If you are on Slack, we can discuss directly with you in realtime. But I will ask coinomat or whale (who have access to the account) to check this again.
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coinomat

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What's that?

I sent 250 EIX to NXT-ESXQ-5QFC-ARPP-HG2C7 (transaction 5484219416991620959), to swap with 108,70 NEXT, and I received 108,69... ... EIX  ???

Please:
- round correctly: 250 / 2.3 = 108.69565 rounded to 108.70
- send me 108.70 NEXT

Thanks in advance.

Oops - we'll chase it up. Thanks for letting us know.

Still no NEXT for my 250 EIX sent on Feb. 7th   ???
How long does it takes to sort it out ?

I'll ask coinomat. Getting on the coinophone right now. (At night, it's easier to shine the big coino-lamp onto the clouds.)

So I sent 250 EIX, I received no NEXT, I received no NEXT dividend on feb. 1st, no NEXT dividend on feb 15th... Why  ???

Is it only for me? Did I do something wrong?
If someone can explain, I would be pleased.
Hi, pls give me your txid
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Lagb

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What's that?

I sent 250 EIX to NXT-ESXQ-5QFC-ARPP-HG2C7 (transaction 5484219416991620959), to swap with 108,70 NEXT, and I received 108,69... ... EIX  ???

Please:
- round correctly: 250 / 2.3 = 108.69565 rounded to 108.70
- send me 108.70 NEXT

Thanks in advance.

Oops - we'll chase it up. Thanks for letting us know.

Still no NEXT for my 250 EIX sent on Feb. 7th   ???
How long does it takes to sort it out ?

I'll ask coinomat. Getting on the coinophone right now. (At night, it's easier to shine the big coino-lamp onto the clouds.)

So I sent 250 EIX, I received no NEXT, I received no NEXT dividend on feb. 1st, no NEXT dividend on feb 15th... Why  ???

Is it only for me? Did I do something wrong?
If someone can explain, I would be pleased.
Hi, pls give me your txid

Hi Coinomat,

Is my txid the number of my transaction to send the 250 EIX? If so, it's indicated above:
I sent 250 EIX to NXT-ESXQ-5QFC-ARPP-HG2C7 (transaction 5484219416991620959), to swap with 108,70 NEXT.
Hope this helps. Thanks in advance.
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