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Latest Nxt Client: Nxt 1.11.14 - Latest Ardor Client: Ardor 2.0.14

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Author Topic: weekendwarrior  (Read 18893 times)

printshop

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Re: SafeHash
November 11, 2014, 05:19:03 pm

Quick Announcement:

SafeHash will be participating in the share multiplication of LTCgear, since all our assets were bought before the multiplication cut-off date.

This means we will start off with a big bang! Any extra shares we get will be entered in as "at zero" and will provide extra fat juicy dividends for us all far into the future. How's that for an opener! Now you get to buy multiplication shares AFTER the cut-off date when investing in SafeHash! Hurry, only a limited number of shares are available with our current backing...

Sebastien256

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Re: SafeHash
November 11, 2014, 05:29:44 pm

You bought the share directly on ltcgear?
Please drop your ideas concerning Nxt and/or NRS in this topic -> List of feature request for Nxt and/or NRS (with the full list in OP).

peggy2jj

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Re: SafeHash
November 11, 2014, 05:42:57 pm

Quick Announcement:

SafeHash will be participating in the share multiplication of LTCgear, since all our assets were bought before the multiplication cut-off date.

This means we will start off with a big bang! Any extra shares we get will be entered in as "at zero" and will provide extra fat juicy dividends for us all far into the future. How's that for an opener! Now you get to buy multiplication shares AFTER the cut-off date when investing in SafeHash! Hurry, only a limited number of shares are available with our current backing...
sounds good :)

Sebastien256

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Re: SafeHash
November 11, 2014, 05:44:48 pm

You bought the share directly on ltcgear?

Because, if you bought HRLTCGEAR after last wednesday. No multiplication will happen for those asset.
Please drop your ideas concerning Nxt and/or NRS in this topic -> List of feature request for Nxt and/or NRS (with the full list in OP).

printshop

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Re: SafeHash
November 11, 2014, 06:19:44 pm

You bought the share directly on ltcgear?

No, but since SafeHash is operated by KNS, the mining assets we started the company with are all pre-cutoff. I am guessing that (pf for example) will end up sending the shares to KNS holdings because that's where they were when (he) took the snapshot of shareholders. I will just transfer them over to the SafeHash account when I see them.
« Last Edit: November 11, 2014, 06:43:42 pm by printshop »

futurist

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Re: SafeHash
November 12, 2014, 05:34:06 am

SafeHash Financial Statement
Last Updated: November 11th, 2014
Next Update: November 17th, 2014


Backing (non-mining assets):
  • 90,052 NXT.

Shares Sold:
  • 47,983 shares have been sold.

Mining Assets:
  • 11,517 shares of HRLTCGEAR @ 1.
  • 100 shares of HRNXTPool @ 75.
  • 203 shares of iHash @ 10.
  • 204 shares of ltc2nxt @ 25.
  • 102 shares of LTCshare2G @ 105.
  • 250 shares of SAAS have been purchased @ 60.
  • Total: 51,857 invested into mining.

What address can we find this info?

printshop

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Re: SafeHash
November 12, 2014, 06:15:06 am

Quick Announcement.

WE NOW HAVE OVER 100,000 NXT IN BACKING! Yay!

Ok, party hats. We additionally confirm the following:

Reception of 33 ltc2nxt shares from multiplication, put on the books at 0 NXT (ref).
Confirmation that our SAAS shares now have increased hashpower from multiplication (ref).
Confirmation that our LTCshare2G shares now have increased hashpower from multiplication (ref).
Reception of 800 HRLTCGear assets from multiplication, put on the books at 0 NXT.


SafeHash Financial Statement

What address can we find this info?

The account address is NXT-X5EF-HTB2-RLYU-HW8E7 (ref).

Please be careful about expecting the account to line up exactly with our statement. There will be some variance, even on recently updated statements. I've included your question and a more detailed answer in the FAQ. Short answer, please allow a 5% variance in what the account says and what the statement says.
« Last Edit: November 12, 2014, 02:52:18 pm by printshop »

futurist

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Re: SafeHash
November 12, 2014, 06:44:30 am

"The account address is NXT-X5EF-HTB2-RLYU-HW8E7 (ref)."

Thank you, somehow I missed that post.

"Please be careful about expecting the account to line up exactly with our statement. There will be some variance, even on recently updated statements. I've included your question and a more detailed answer in the FAQ. Short answer, please allow a 5% variance in what the account says and what the statement says."

Understandable...hopefully +5%  :)

printshop

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Re: SafeHash
November 12, 2014, 02:01:33 pm

Quick Announcement!

We've sold out all our shares. There won't be any more shares available until dividends start coming in around Sunday/Monday. See you then!


SafeHash Financial Statement
November 13th, 2014

Backing (non-mining assets):
  • 100,034 NXT.

Shares Sold:
  • 100,000 shares have been sold.

Mining Assets:
  • 27,200 shares of HRLTCGEAR @ 1.
  • 300 shares of HRNXTPool @ 75.
  • 1,103 shares of iHash @ 10.
  • 359 shares of ltc2nxt @ 25.
  • 102 shares of LTCshare2G @ 105.
  • 350 shares of SAAS @ 60.
  • 33 bonus shares of ltc2nxt @ 0 (from LTCGear.com share multiplication).
  • 800 bonus shares of HRLTCGEAR @ 0 (from LTCGear.com share multiplication).
  • Total: 101,415 invested into mining.
« Last Edit: November 12, 2014, 04:51:52 pm by printshop »

manrus

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Re: SafeHash
November 13, 2014, 12:12:51 pm

How many shares will be available after dividends?

printshop

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Re: SafeHash
November 13, 2014, 03:37:56 pm

How many shares will be available after dividends?

I think we may make 8,000 in dividends the first week. In that case, half (4,000) will be paid as dividend, and half (4,000) will be used to back new shares. By way of explanation, i've decided that the 25%-50%-25% rule is really a 50%-50% rule, since KNS can add or remove backing (and may have to, since usdbitfnx is crashing  :'(). The original idea was to have people help back it but I think it's easier to just have KNS do everything.

So if you want to see a large number of new SafeHash shares come on the market, invest in KNS :)

p.s. one of the cool things about SafeHash is that since we retain multiplication shares, SafeHash will slowly become more profitable than actual mining shares... for example right now, if you buy 1 HRLTCGEAR, you just get 1 HRLTCGEAR. But if you buy 1 SafeHash, you get the HRLTCGEAR plus the multiplication shares paid out last week ;-)
« Last Edit: November 13, 2014, 03:47:33 pm by printshop »

printshop

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Re: SafeHash
November 14, 2014, 04:54:08 am

Dividend Payment Info: November 18th, 2014
--------------------------------------------
Received:
15/11/2014 11:45:24      814.71788161      ltc2nXt
15/11/2014 11:17:10      3'750.58664133      HRLTCGEAR Dividend Account
14/11/2014 12:35:58      275.75         iHash

Total: 4,841 (50%: 2,420.5)
To Dividends: 2,420
To New Backing: 2,420

Paydate: November 18th, 2014
« Last Edit: November 15, 2014, 10:11:32 am by printshop »

printshop

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Re: SafeHash
November 14, 2014, 08:02:43 pm

Hi, quick noob question -- how do I "burn" shares? Someone has sold shares back to the fund, and it's company policy to burn all such shares. Thanks for any info.

NxtMinnow

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Re: SafeHash
November 14, 2014, 08:07:40 pm

Sending the shares to the Nxt Genesis Account should do the trick. NXT-MRCC-2YLS-8M54-3CMAJ

Hi, quick noob question -- how do I "burn" shares? Someone has sold shares back to the fund, and it's company policy to burn all such shares. Thanks for any info.

Ikonic

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Re: SafeHash
November 14, 2014, 09:16:11 pm


I'm not sure how the Genesis Account works but if you are sending shares there to burn, make sure the address is not being paid dividends.


Just my 2 cents.


Ike

Sending the shares to the Nxt Genesis Account should do the trick. NXT-MRCC-2YLS-8M54-3CMAJ

Hi, quick noob question -- how do I "burn" shares? Someone has sold shares back to the fund, and it's company policy to burn all such shares. Thanks for any info.
SAAS Asset Id: 14225517118742712534

printshop

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Re: SafeHash
November 15, 2014, 07:31:12 pm

Hi! Quick Announcement:

SafeHash wishes to re-iterate to anyone who buys after-market shares that we can only guarantee 1 NXT per share.

If you buy after-market shares for 10% more, for example at 1.10 NXT, we can not guarantee the extra 0.1 NXT per share. You would have to wait until dividends of 0.1 per share before you would be "safe".

We can't control the market so there is no way for us to sell shares to meet demand. We are bound by our backing not to sell more shares than we can support. That being said, I am working on deals right now to try and increase backing via investment in KNS. If successful -- if KNS gets more investment -- these amounts will be transferred into backing for SafeHash.

For those already invested in mining, we urge these people not to panic. While we can't offer any investment advice, what I do personally is I take the interest income I get from my mining shares and place bids for SafeHash at 1 NXT. This is like "standing in line", and as SafeHash grows, it will grow to meet demand via the natural process of reinvesting our own share of interest income into the fund.

Please be patient, and stay Safe!

Sebastien256

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Re: SafeHash
November 15, 2014, 09:47:33 pm

What day of the week you plan to pay dividends? I assume you will do weekly dividends as every other mining assets.
Thanks
Please drop your ideas concerning Nxt and/or NRS in this topic -> List of feature request for Nxt and/or NRS (with the full list in OP).

printshop

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Re: SafeHash
November 16, 2014, 04:51:28 am

What day of the week you plan to pay dividends? I assume you will do weekly dividends as every other mining assets.
Thanks

We can really pay anytime, but I'd like to keep fees low. Eventually (3-6 months) we will move to monthly payments. With example savings of 100 a week and a 3% interest rate, we would save around 24,000 NXT a year moving from weekly to monthly payments. Then again 24,000 NXT sounds like a lot but it might be less than 1% of the fund by 6 months.

I have to go out now but I am working on a set of rules for dividend payments this afternoon. I will post it later today.

printshop

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Re: SafeHash
November 16, 2014, 12:28:02 pm

Understanding SafeHash: The SafeHash Pyramid
====================================

Comically enough, SafeHash can be thought of as a pyramid -- not a pyramid scheme, but as three distinct accounts 'mining', 'backing', and 'shares'. The internal management of SafeHash is merely to ensure account values are such that

mining > backing > shares

1. Starting out.
When starting the fund, we had 0 mining, 50,000 backing, and 0 share sales. This brought us to the situation 0 > 90,000 > 40000. Now we can buy as many mining as we want so long as the equation holds. So we buy 47,000 mining. This leaves us at 47000 > 43000 > 40000.

2.  Continued Operation / Efficient Fund Operation
So long as we have more in mining than backing, and more backing than shares which have been sold, the fund is considered "stable"; good profits and enough to back every share. But in the above example, there are 47,000 mining shares purchased at IPO price and 40,000 shares. We could theoretically sell 7,000 shares and come to a situation of 47,000 > 50,000 > 47,000. Then we would need to buy more mining shares, say 2,000; this would leave us at 49,000 > 48,000 > 47,000. This is more efficient, but still not ideal. How do we measure this efficiency? We note here that the goal seems to be to bring the number of shares sold close to the amount we have in mining. Therefore the equation (mining - shares sold) / (mining account) will give us a number which shows how far away we are from this goal. In the first example. the difference would be 7,000 / 47,000 or 14.9%. Very bad! In the second (adjusted) example the difference is 2,000 / 49,000 or 4.1%. Better but still surprisingly far from ideal.

3. Most Efficient and Safe Operation Guidelines
So long as we first increase the number of mining shares sold such that backing does not fall under 1 NXT/share, we will increase the profitability of the fund to it's maximum. We may then sell a definite number of shares, and by selling them at 1 NXT/share we will not decrease backing beyond transfer fees. Thus with two simple actions it is easy to bring the fund to a very efficient state. Currently, the fund has 145,111 in Mining, 144,316 in backing, and 140,857 shares sold. The efficiency is (145111-140857)/145111 or 2.9%. Our first action then would be to buy mining shares; how many? "backing - shares out" will lower backing as much as possible. In this case it's about 3450 shares of HRLTCGEAR.

We can then note that our mining value has increased to 148,561. Subtracting the current number of shares out (or subtracting the backing, to ensure we don't sell too much) implies we can sell 7,704 shares. Assuming transfer fees of 2 (one per order) we would go from 145,111 in Mining, 144,316 in backing, and 140,857 in shares to 148,571 > 148,568 > 148,561 in just two transactions. For an efficiency rating of 10/148571 or 0.0067%. Now that's super efficient!

4. Stacking the odds in our favor
Being super efficient is great, and allows us to stack the odds in our favor. For one, we don't have to buy 3,450 shares at 1. It's not an emergency, especially if there is no demand for new shares at the moment. Instead, we can place an order for say 3,500 shares at 98% of the ask price, and really get our money's worth. This will enable us to sell more shares in the future and in general make more money for everyone. My guess is, the best time to play around like this is when we have no emergency need to sell shares (i.e. people are not bidding more than 1/share or there are no bids) and we are already very efficient (at least within 1% of ideal).

5. Dividend Policy
Transfer fees are pooled (deducted from the total before it is divided among shareholders), and amounts less than 2 NXT are retained by the fund on your behalf until we can pay you at least 2 NXT (and may be temporarily reinvested).

We can pay dividends at any time; we can pay weekly or monthly. Times and amounts can be random, so long as we keep our promise to pay out 50% of what we take in. Our commitment to this promise, as shown by our actions, will be one way you can evaluate the management of this fund and make a decision whether or not you want to trust us. Either we do it, or we don't, and if we don't, you are of course free to take your money elsewhere.

In general I would expect SafeHash to pay at least 90% of what is owed, at least every two weeks or more frequently. Our first payment will be on the 18th, the next payment is guaranteed before the end of the month. Beyond that I can't say. Please let me know your thoughts, and I will adjust policy accordingly.

whatnxt

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Re: SafeHash
November 16, 2014, 01:06:28 pm

On dividends
Predictability always wins.
More frequent payouts for a new asset reduce 'risk'.
Less frequent payouts for an established (what ever that means) asset reduce costs.

So there may be some logic to delaying a payout because reinvesting makes more sense, however, randomly paying out is not going to make you popular, but will increase speculation about your character. As if we have not heard enough already :)

There is also a link between dividends and the release of new assets. In my ideal world you pay the dividend and then release new assets so that they earn their dividends at the next payout.

There is also an issue with the value of the asset going up, if the dividend is not released for some time. Since you are buying into a 'guarenteed' payout you should pay more for the asset. We already see this with other mining stocks where liquidity is best just after a dividend. This would suggest a more frequent payout is required. It also suggests that issuing assets at 1 nxt before a dividend is underpricing them.
NXT-UAPC-3T43-FFT6-HW5BZ
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