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Author Topic: SafeHash  (Read 12952 times)

printshop

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SafeHash
January 11, 2015, 07:23:29 pm

-=+ SafeHash +=-

Welcome to SafeHash, a 100% owned and operated subsidiary of KNS.

With SafeHash, you cannot lose your initial investment. It's guaranteed.

Our mission statement is, "To Guarantee the Preservation of Investment Capital while providing a Competitive Return".


Here is our plan.

1. Operations.
Goal: In the event of a collapse in the mining sector (for whatever reason) all investors will be able to get out at or above the IPO price of 1 NXT per share.
Action: SafeHash will retain one NXT per share in NXT and/or highly liquid, safe investments (like USDBITFNX, Coinomat, or ltc2nxt3) for every 1 NXT sold and invested in mining assets.
Conclusion: There will always be sufficient NXT to support a complete buyback at 1 NXT/share.


2. Profit from Operations.
Goal: Increase profits for shareholders and backers while continuing to mitigate risk.
Action: 50% of profits from operations will be retained for reinvestment, and 50% will be paid as dividend.
Conclusion: The value of SafeHash will slowly increase.


3. Mitigate risk by dealing with the issue before it becomes a problem.
Action: Do not sell more shares of SafeHash than we have backing to support.
Conclusion: Risk is mitigated by not selling more shares than we have capital to back.


4. Exit Strategy. Because all good things must eventually come to an end.
Once all shares have been sold, we will no longer be able to cap the price at 1 NXT and provide a guarantee on the initial purchase price of shares. Therefore, once all existing shares are sold we will shut down the fund as follows:
    a) We will cease paying dividends.
    b) 100% of fund income will go towards repurchasing the shares at market price but less than 2 NXT per share.
    c) All shares repurchased in this way will be burned by sending them to the Genesis block.
    d) We reserve the right to walk away from managing/running/operating the fund should be be able to maintain a bid of 2 NXT per outstanding share.
Conclusion: Everybody wins.
« Last Edit: January 31, 2015, 12:45:58 pm by printshop »

printshop

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Re: SafeHash
January 13, 2015, 08:26:54 pm

FAQ

1. What is the official Asset ID?
--> Our Asset ID is 14777906162204143382. Our old asset ID is 12699150877111554426. If you have shares of the old SafeHash, you may exchange them (See #2).

2. What can I do with my old shares of SafeHash?
--> You can exchange them by sending them to NXT-X5EF-HTB2-RLYU-HW8E7. You will be sent back the appropriate number of new shares.

3. What happens if I don't exchange my shares?
--> Nothing, you can exchange them at any time. But, the old shares will not receive dividends after June 30th, 2015.

4. I do not understand how is connected mining and SafeHash asset? I have read the IPO information 3 times and still I do not see the source of the profits. (From: blackyblack1)
--> We invest the NXT from share sales into mining assets like cex.io or Cointellect. When those assets pay a dividend we distribute 50% to you and 50% to back new shares and sell them into the market. If nobody buys those shares, we can reinvest it as a way to increase demand for the asset or just take it as our management fee.

5.  Can we trade existing assets into SafeHash for shares of SafeHash? (from: blackyblack1)
--> Maybe. What asset do you have? Make an offer and if it's reasonable we are likely to accept it.
This can help you "sell" a non-liquid asset and get liquid shares of SafeHash in return.

6. Can't you just buy mining assets yourself and have 100% profits? Since profits are split 50%, the risks should be split too. But it looks like all risks are on the SafeHash issuer. (from: blackyblack1)
--> The fund is self-backing. It grows and produces income for us independent of additional investment on our part. Yes, we took a huge initial risk when we started the fund, but as the fund has continued to grow, that risk has been gradually removed. Each week we have the option of either issuing more shares for sale, or just taking our share of the income as a fee. Since many people have invested into this, our income has become greater than if we just invested our own money on our own.

7. What address can confirm the "SafeHash Financial Statement"? (from: futurist)
--> The SafeHash account address is NXT-X5EF-HTB2-RLYU-HW8E7.
--> The majority of our assets are contained in the Safehash account. We do have large investments on websites like BTCJam which do not show up. However, if these assets become a large part of our portfolio we will consider spinning them off into separate assets. This will help you account the value of SafeHash and also provide an interesting investment opportunity.

8. Any questions?
--> Please ask questions! We will put the best questions and answers here into the FAQ. If your question makes it into the FAQ, you will receive ten free shares of SafeHash for your contribution to society.
« Last Edit: January 31, 2015, 01:06:09 pm by printshop »

printshop

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Re: SafeHash
January 15, 2015, 12:04:07 pm

Dividend Payment Record.

I'm keeping track of all dividends paid with the new Dividend payment system until the client is fixed. Yes, you definately got your dividends if you were holding shares during the block height in question!

The dividend payments will appear in the account ledger, when it is ready. This is a new feature, not a bugfix, and will take some more time. A lot of code has been written, but needs some improvement, and the effect on performance and db size is not yet known. Finishing the voting system and phasing is a priority now, I will look into what remains to be done for account ledger after that.

1.
Transaction ID: 4368643467067068194
Date: 28/01/2015 02:51:59
Type:   Dividend Payment
Asset Name: SafeHash
Amount Per Share: 0.007 NXT
Height: 343600
Fee: 1 NXT

2.
Transaction ID: 8436792485351073606
Date: 31/01/2015 02:21:10
Type:   Dividend Payment
Asset Name: SafeHash
Amount Per Share: 0.007 NXT
Height: 346000
Fee: 1 NXT
« Last Edit: January 30, 2015, 06:45:44 pm by printshop »

printshop

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Re: SafeHash
January 25, 2015, 10:59:59 am

Hello. I've just finished reinvesting some of SafeHash's free NXT into a few choice issues on the NXT AE.

All things into consideration I think we will change the payout ratio slightly. There's no single source of income anymore, so calculating it has become more complex. But most of the things we invest in are paying between 1% and 2% per week. Therefore, it looks like 1% a week will be our payout for the next few months.

The ironic joke is, this is still in ponzi territory. It's doubly so because most people will consider the rate too low to bother investing in, compared to other ponzi based investments (DESPITE the fact that LTCgear just blew up in their faces).

0.0% -- Money Market Funds (*0.01%)
0.1% -- 3 month T-bill
0.9% -- 40 year commodities
1.3% -- 3 year bank CD
2.0% -- 40 year housing
2.2% -- 10 year treasury
3.1% -- Ginnie Mae Pools
3.8% -- REIT investments (last 10 years)
3.9% -- 40 year CPI (inflation)
4.0% -- Investment Grade Corporate Bonds
4.2% -- Overseas Stocks (40 year average)
4.9% -- 40 year gold
5.0% -- 30 year mortgage
6.0% -- Personal Line of Credit at bank
11.9% -- 40 year US stocks
12.9% -- 40 year REITs

What we know, is that there isn't any business model which supports 1% per week (or even much more than 1%/month) for any sustained length of time. I suspect the deep economic reasons for this are related to figures such as birth rate, gold mining rates and so forth. But whatever the reason the proof is all around us in the form of failed business ventures and broken bank accounts.

Maybe this time around we'll cut the payout ratio and expand the fund a bit more. This will help us diversify and protect against any hiccups (like a coinomat or cex.io blowup). But we have learned our lesson and I only hope the community has learned a little more about what I'm m trying to do with SafeHash here and why. Let's make a resolution in 2015. Let's not invest in ponzis anymore, but manage our money wisely! Let's shoot for the insured, 1% a month -- not the blowup-quality 10% per week which we know can't last.

Let's stop gambling, and start investing for our future.

printshop

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Re: SafeHash
January 27, 2015, 07:30:21 am

Ok, I've downloaded Supernet 1.4.9.1 and will be making a test payment shortly (once the blockchain has finished downloading). It will be for 0.007 and it will be for this last weekend (the 24th). I am confident that I can maintain payments of 0.007 per week going forward. Actually I can probably pay more, but I am going to start small and see how much we can push it up while still being able to expand at a reasonable pace. This is 43.7% per year. That is lower than the 67.8% I mentioned in the previous post. I'd like to keep things on the safe side for now.
« Last Edit: January 27, 2015, 08:04:31 am by printshop »

printshop

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Re: SafeHash
January 27, 2015, 05:58:27 pm

Transaction ID: 4368643467067068194
Date: 28/01/2015 02:51:59
Type:   Dividend Payment
Asset Name: SafeHash
Amount Per Share: 0.007 NXT
Height: 343600
Fee: 1 NXT


Very interesting. The payment would have sent money to the distribution account. So I transferred the extraneous SafeHash shares back to the issuer account. But I just realized that I could overpay (and it wouldn't matter) because the extra money would just be sent back to the distribution account.

Anyways, this payment was for the weekend of the 24th of January. Payments are slated for early Saturday morning EST going forward.

SafeHash lives!

printshop

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Re: SafeHash
January 27, 2015, 06:18:34 pm

Uh oh, something is wrong.

The Dividend+ module currently in the client does not report dividends. I'm going to be keeping an extremely close eye on our investments but until there is some way to verify a payment, I am bound to miss payments sent via this module.

If any asset issuers see this, please report your dividend payments VERY carefully. It is going to be waaaay to easy to miss payments with 10, 20 assets flying around here.

JanSako

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Re: SafeHash
January 27, 2015, 07:07:23 pm

I seem to have received ~5 NXT from somewhere, but no idea if it was from you. There is no incoming transaction...

What would have been the amount for 743 Safehash? Account in my sig.

THX!

printshop

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Re: SafeHash
January 27, 2015, 07:40:42 pm

I seem to have received ~5 NXT from somewhere, but no idea if it was from you. There is no incoming transaction...

What would have been the amount for 743 Safehash? Account in my sig.

THX!

743*0.007 = 5.201.

Yes the "invisible dividends" thing is going to become a huge problem. We really need notification of some kind. I can't understand why the clients don't pick this up if it is in the blockchain.

Anyways, I've also made four payments from DailyTrade (for the 24th to 27th) and have updated the DailyTrade thread with a payment schedule.

I'm going to have to be extra careful when making payments using this Dividend+ feature. I have no record of who has and has not been paid ..... I even checked the server logs. Nothing  ???

JanSako

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Re: SafeHash
January 27, 2015, 08:41:45 pm

Guess that was it then, thank you for the div!

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Re: SafeHash
January 28, 2015, 12:45:07 pm

Transaction ID: 4368643467067068194
Date: 28/01/2015 02:51:59
Type:   Dividend Payment
Asset Name: SafeHash
Amount Per Share: 0.007 NXT
Height: 343600
Fee: 1 NXT


Very interesting. The payment would have sent money to the distribution account. So I transferred the extraneous SafeHash shares back to the issuer account. But I just realized that I could overpay (and it wouldn't matter) because the extra money would just be sent back to the distribution account.

Anyways, this payment was for the weekend of the 24th of January. Payments are slated for early Saturday morning EST going forward.

SafeHash lives!

Did you pay dividends on 27/01? I don't see them.
NXT-BDK7-3JBD-GFA8-ATX73

printshop

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Re: SafeHash
January 28, 2015, 01:47:05 pm

Transaction ID: 4368643467067068194
Date: 28/01/2015 02:51:59
Type:   Dividend Payment
Asset Name: SafeHash
Amount Per Share: 0.007 NXT
Height: 343600
Fee: 1 NXT


Very interesting. The payment would have sent money to the distribution account. So I transferred the extraneous SafeHash shares back to the issuer account. But I just realized that I could overpay (and it wouldn't matter) because the extra money would just be sent back to the distribution account.

Anyways, this payment was for the weekend of the 24th of January. Payments are slated for early Saturday morning EST going forward.

SafeHash lives!

Did you pay dividends on 27/01? I don't see them.

You definitely got them, but they were invisible and there is no record of the payment.

I know this is problematic and you might wonder if I'm pulling your leg. It's a problem with the client. You can read about it on the NRS v1.4.11 thread. I am hoping they will fix this soon. Until it's fixed I guess I will have to announce the exact block which holds the payments. Ugh. But the real problem is keeping track of things. If we get a payment and I'm not aware of it I won't add it to the payment schedule.

Well, when it gets fixed I'll just do a quick back-check to make sure everything is okay. Until then, keep your eyes open... :)

printshop

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Re: SafeHash
January 30, 2015, 05:28:50 pm

Transaction ID: 8436792485351073606
Date: 31/01/2015 02:21:10
Type:   Dividend Payment
Asset Name: SafeHash
Amount Per Share: 0.007 NXT
Height: 346000
Fee: 1 NXT


I don't like these invisible dividends but the problem is even worse than that. Dividends can only be paid from the issuer account. This causes all sorts of problems when trying to use a distribution account. I've decided it's not worth it and will completely separate SafeHash from KNS by reissuing SafeHash from the distribution account NXT-X5EF-HTB2-RLYU-HW8E7.

Your old SafeHash shares will still be valid and insured until June 30th, 2015. After that time they will no longer receive dividends. If peopple still haven't exchanged their shares by that time, I will send out some NXT messages trying to contact those shareholders.

You will always be able to exchange shares of the old SafeHash for shares of the new SafeHash.

As a bonus to encourage people to exchange their shares and maybe buy new shares, we will pay a special extra dividend of 0.01 on February 7th -- in addition to our regular weekly dividend of 0.007. Please exchange your shares before February 7th in order to be eligible for this special dividend offer!

printshop

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Re: SafeHash
January 30, 2015, 05:44:09 pm

Our new asset ID is 14777906162204143382.

I am about to burn all of the old unsold shares of SafeHash by sending them to the genesis block.

Once again, you may exchange your old shares for new shares by sending them to the SafeHash account. I will see the transfer and send you back the correct number of new shares. Thanks and good luck! There are exciting things in store for SafeHash in 2015, I have not yet played every card in my hand. I am sure we will enjoy a great success.

The future is bright :)

garp

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Re: SafeHash
January 30, 2015, 05:49:59 pm

I seem to have received ~5 NXT from somewhere, but no idea if it was from you. There is no incoming transaction...

What would have been the amount for 743 Safehash? Account in my sig.

THX!

If you don't have a transaction, how do you know you received 5 nxt?
NXT-BDK7-3JBD-GFA8-ATX73

garp

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Re: SafeHash
January 30, 2015, 05:58:08 pm

Transaction ID: 4368643467067068194
Date: 28/01/2015 02:51:59
Type:   Dividend Payment
Asset Name: SafeHash
Amount Per Share: 0.007 NXT
Height: 343600
Fee: 1 NXT


Very interesting. The payment would have sent money to the distribution account. So I transferred the extraneous SafeHash shares back to the issuer account. But I just realized that I could overpay (and it wouldn't matter) because the extra money would just be sent back to the distribution account.

Anyways, this payment was for the weekend of the 24th of January. Payments are slated for early Saturday morning EST going forward.

SafeHash lives!

Did you pay dividends on 27/01? I don't see them.

You definitely got them, but they were invisible and there is no record of the payment.

I know this is problematic and you might wonder if I'm pulling your leg. It's a problem with the client. You can read about it on the NRS v1.4.11 thread. I am hoping they will fix this soon. Until it's fixed I guess I will have to announce the exact block which holds the payments. Ugh. But the real problem is keeping track of things. If we get a payment and I'm not aware of it I won't add it to the payment schedule.

Well, when it gets fixed I'll just do a quick back-check to make sure everything is okay. Until then, keep your eyes open... :)

I got them? I don't get it. How do I know? How can we verify without a transaction?
NXT-BDK7-3JBD-GFA8-ATX73

JanSako

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Re: SafeHash
January 30, 2015, 06:20:50 pm

I seem to have received ~5 NXT from somewhere, but no idea if it was from you. There is no incoming transaction...

What would have been the amount for 743 Safehash? Account in my sig.

THX!

If you don't have a transaction, how do you know you received 5 nxt?

Because I know my balance... :-)
I just happened to check the night before and then after the div announcement.

printshop

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Re: SafeHash
January 30, 2015, 06:42:00 pm

Did you pay dividends on 27/01? I don't see them.

You definitely got them, but they were invisible and there is no record of the payment.

I got them? I don't get it. How do I know? How can we verify without a transaction?

Jean-Luc has stated that he will update the client to show dividend payments at a future date.

The dividend payments will appear in the account ledger, when it is ready. This is a new feature, not a bugfix, and will take some more time. A lot of code has been written, but needs some improvement, and the effect on performance and db size is not yet known. Finishing the voting system and phasing is a priority now, I will look into what remains to be done for account ledger after that.

Until then I will make a record of all payments in post #3. Hopefully Jean-Luc will fix it soon, and we will be able to see all past and future payments in the client.
« Last Edit: January 30, 2015, 06:48:32 pm by printshop »

martinyin

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Re: SafeHash
January 31, 2015, 03:29:31 pm

an estimated ROI?

printshop

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Re: SafeHash
January 31, 2015, 03:53:27 pm

an estimated ROI?

I use excel, I type in "=POWER(1+(0.007/1),52)" (i.e. 1 + weekly interest rate). It's 43.7%. That's with full reinvestment. If you just invest say 1000 NXT and don't reinvest you would see 52 payments of 7 NXT, or about 36% after fees.

I would caution that we pay "50% of what we make", and this could go down. The great thing is, if you invest say 1000, you can always sell out close to 1 NXT (0.99 or above). This isn't like other assets where you buy shares and then find you can't sell them. I make it my first priority to repurchase shares of SafeHash when people want to sell.
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