I am to lazy to make screenshot for fucks sake. Get your lazy asses on slack. Screw the screenshots. They can be manipulated by any idiot. Just use chrome inspect. You don't even need an add-on.
gladimor [3:33 PM]
Just an update on things...
[3:33]
A relatively large loss was made shorting the BTC rise earlier yesterday
[3:34]
Pretty much every applied TA indicated that it would fall from the upper channel and retest support
[3:34]
Of course, Bitcoin always loves to surprise
[3:35]
It broke out strongly, hammering through every fib extension/trending resistance
[3:37]
There are a couple of options right now, as the state of the active OMC fund isn't looking too good at the moment
[3:38]
I still have a decent reserve of BTC in the fund, but that is entirely reserved for a buyback of OMC in the far future
[3:40]
Our first option is to write-off the loss and calculate dividends fresh from the remaining trading balance
[3:42]
Although do note that the remaining trading balance is relatively low (~10 BTC), and dividends would be very small in that respect (edited)
[3:44]
Another option is to open up a large private sale of OMC at discounted rates in an attempt to boost the trading balance so we have a larger base capital to work with that can result in higher dividends
[3:46]
Let me know what you guys think
[3:46]
@channel
gordob [3:57 PM]
@gladimor: what is the actual amount of btc loss in the trading balance & what is the actual reserve btc amount?
gladimor [3:59 PM]
Just over 50 BTC
[3:59]
Is the loss
[4:00]
Around 80 are in cold storage
someone111 [4:01 PM]
What would be the large private sale of OMC discounted price?
gordob [4:02 PM]
Ok to confirm, So we currently have 10 btc trading balance & 80 btc cold storage left in total?
gladimor [4:02 PM]
Yes
[4:03]
We also have some "assets" in mining hardware, but they are currently mining to cover setup costs
[4:05]
If you guys recall the period in which the dividends were around 300 sats, it was because the active trading balance took a hit of 50%+ loss
[4:05]
Within the following couple of weeks I traded my way back to the original balance + more
ziefa [4:08 PM]
Fuckin hell, I say take money from cold storage and trade with, wait for active trading profits and slowly fill it again. Maybe postpone buyback.
[4:08]
Dont take too big risks, BTC is so bullish
gordob [4:09 PM]
What is the current monthly mining income +- in btc?
[4:10]
And how many rigs do we have again?
gladimor [4:13 PM]
I own a few rigs personally and the fund has 3, 6-card rigs
[4:14]
The collective hashpower of the fund is 3750 sols/s, so thats ~$700 USD per month less costs
someone111 [4:15 PM]
Just wondering.... If OMC was liquidated and bought back now, would all investors have made a profit?
gladimor [4:16 PM]
I personally don't feel comfortable withdrawing from the untouched balance (untouched since the IAO closed). A certain discipline is needed when setting aside BTC.
[4:16]
I would have to calculate that give me a moment
someone111 [4:17 PM]
Thank you, @gladimor! :slightly_smiling_face:
ziefa [4:17 PM]
What if you skip dividends for a month
[4:17]
bad for overall value i must say, i bought quite exspensive, but i kinda dont want to loose all my money
gladimor [4:17 PM]
That could be an option, we'd have to see how the other investors would react to it
[4:19]
Well this loss is just a hiccup for the moment
[4:19]
I've been in worse positions before, we'll see how long it takes to recoup the loss from 10 BTC
ziefa [4:21 PM]
The first 4 days of this year has been almost impossible to not make money :smile: there is so much money going in to crypto its insane. Guess you had some bad luck :confused:
gladimor [4:23 PM]
Shorting the rally was a bad idea yep
gordob [4:23 PM]
I'm happy to take no dividends for 1 month (Jan) to build up the trading balance
[4:23]
I don't think it is a good idea to trade with our reserve balance
gladimor [4:24 PM]
Agreed
gordob [4:28 PM]
What options do we have right now?
1. Build up the trading balance from a low base.
2. 2nd ico to raise more funds.
3. Maybe sellmining rigs back to yourself Gladimor, this could raise some capital. For fund.
4. Decide if loss of too great and return 90 btc +mining rig sales back to investors.
5. What else?
someone111 [4:29 PM]
Liquidate OMC, buy back OMC... Then new ICO. An option?
ziefa [4:29 PM]
Yes because new ico would fuck my price over big time
someone111 [4:29 PM]
Or another swap :smile:
ziefa [4:29 PM]
and double ico's never work out very good
gladimor [4:30 PM]
Well I wouldn't be holding a 2nd ICO
[4:30]
Just a large private sale to a select few investors
[4:30]
And of course, for much more reasonable rates considering the state of the fund
gordob [4:31 PM]
What kind of rates are you thinking Gladimor?
ziefa [4:31 PM]
Do you think you can outcompete Yobit prices?
[4:31]
they are pretttyyy low right now
[4:32]
and will prolly drop more now
gladimor [4:32 PM]
@gordob, possibly between 5k-7k satoshis
[4:33]
An agreement would also have to be made regarding not withdrawing to market in the case that the price rebounds
[4:34]
The price would of course be discussed with the private sale buyers
gordob [4:37 PM]
@gladimor maybe we should take a step back, you mentioned earlier that you have been in worse situations, why don't we try use the 10btc base to build-up again and not have a dividend for Jan, no use diluting our investments without trying to recover?
gladimor [4:38 PM]
Yes I have been in worse situations previously
gordob [4:39 PM]
I mean the loss might be less to buy back using the 90btc than selling at that low price
[4:39]
Can you maybe do the math?
gladimor [4:40 PM]
Already have, individuals that paid over 10k sats will not reach ROI
[4:40]
I think the figure is even lower
[4:40]
And I personally believe it is far too soon for a buy-back
[4:41]
The idea was to do a buy-back in the far future once some investors have already recovered the initial investment, etc
someone111 [4:44 PM]
my plan after covering my original investment was to buy more OMC, was really looking forward to a very long term investment :slightly_smiling_face:
gladimor [4:45 PM]
My plans for OMC stretch to over a year so far
[4:46]
Within a couple of months, I plan on expanding the mining farm such that revenue is comparable to that of the lower-end dividends
[4:47]
The general idea I had was to build up the fund (through trading) such that I could purchase enough mining hardware to pay dividends completely
[4:48]
Then I could finally take a short vacation :smile:
ziefa [4:48 PM]
I paid 1.5 btc for 10k OMC a few months ago, i feel pretty scammed xD Oh well great that during these 4 days my other coins jumped almost 100%.
gladimor [4:48 PM]
Well OMC is far from over
[4:49]
The last time I took a comparable loss, I decided to keep it quiet to not cause a panic
[4:49]
I decided to be a bit more transparent this time
ziefa [4:49 PM]
its just now you are talking about selling new omc for 1/3 of what you wanted from me
gladimor [4:49 PM]
I built up fully from the last loss by the way
[4:50]
This in respect is a means to gain quick capital such that all investors benefit
ziefa [4:50 PM]
Yeah but it would also require much higher profits to give same amount for dividends
gladimor [4:51 PM]
That is true, but there will always be a reasonable cap on the private sale amount
[4:51]
If there was any sale to take place, that is
ziefa [4:51 PM]
Still with this pace it will take 3 years to get the initial investment back
gladimor [4:52 PM]
We've been averaging 3% per week in returns
[4:53]
Considering the final IAO price of 0.00012000 BTC
ziefa [4:53 PM]
I was not part of the first weeks, its alot lower from when i entered
gladimor [4:56 PM]
It is 2.5% per week if you entered at around 0.00015 BTC
ziefa [4:57 PM]
ok so 2½ years not 3....
someone111 [4:58 PM]
Actually, I expected a few dividends to be skipped every now and then anyhow.
gladimor [4:59 PM]
@ziefa, that is 140% per annum :stuck_out_tongue:
someone111 [4:59 PM]
I finally made up my mind:
- Maybe not s bad after all.
- Please don't delude our investments.
- Skip dividends if necessary
- Please try to recover from losses.
gladimor [5:02 PM]
Noted @someone111
gordob [5:04 PM]
So just some math from my side.
1. 140 btc total = 35.71% loss.
2. Profit over period = 26.15% profit.
3. Actual loss = 9.56%.
4. Align with btc increase taking into account 35.71% loss - actual profit if paid out now in btc is +- 41%
someone111 [5:04 PM]
I wonder how much worth my opinion is in relation to my share power? Have wale investors more say? No problem with that. Rather them, then those who are most vocal.
gordob [5:04 PM]
* above based on my investments
someone111 [5:04 PM]
In any case, I am happy if everyone is heard.
gordob [5:20 PM]
@gladimor - my thoughts;
1. It is more feasible to buy back, with current btc increase, current 35.71% loss & 90btc available than to dilute investments by getting private investors @ a low rate - buy back would actually give us a profit
[5:21]
2. Suggest trying to re-coup the money (I am sure you can do this) without touching the btc cold storage
[5:22]
3. No dividend for Jan, mining profits for Jan go to increasing the btc trading account
[5:24]
4. Re-assess the situation every week in Jan (feedback to slack group on progress)
someone111 [5:28 PM]
And can you also update the forums please?
gordob [5:38 PM]
5. @gladimor you can still put omc sitting in the original omc distribution address on the market, so let say you put 500 000 omc for 0.00012000 (initial price) on the market. There is currently only +- 40 000 omc for sale on yobit below 0.00012000 price. (edited)
[5:38]
That could generate 60btc
[5:39]
Then you just need to convince your investors to buy - anything below ico won't be good for current investors. (edited)
someone111 [5:40 PM]
theoretically 5. is a good idea, there should always be a sell order on yobit
[5:40]
on the other hand I was just reading the last page of the yobit thread
[5:41]
yobit is a disaster
[5:41]
https://bt.irlbtc.com/view/914975.2340bitcointalk.org
YoBit.Net - CRYPTOCURRENCY EXCHANGE & MultiCoin DICE - Free Coins every 1-24 hrs
YoBit.Net - CRYPTOCURRENCY EXCHANGE & MultiCoin DICE - Free Coins every 1-24 hrs
[5:41]
scary how they put coins into maintenance mode for months
[5:41]
so I wouldn't want to have coins locked up there for months
gordob [5:42 PM]
Then we need to get on other exchanges asap (openledger etc)
someone111 [5:42 PM]
yes
[5:43]
I was also wondering why OMC wasn't implemented on top of ETH in the first place?
[5:44]
If it was a token, we could trade it one of these decentralized exchanges.
gladimor [8:20 PM]
I'll be moving some BTC from cold storage to speed things up then.
gordob [8:26 PM]
What's your game plan @gladimor - I thought touching cold storage btc was a no-go? (edited)
gladimor [8:37 PM]
I want the recovery to progress faster
[8:37]
Before I do any further trading, I'll be taking a few days off
[8:37]
I've been trading straight from before Christmas till today, catching only a couple of hours of sleep every so often
gordob [9:04 PM]
Good idea @gladimor - get some rest bud
----- January 5th -----
gordob [2:27 PM]
@gladimor: - the dip in btc you were looking for yesterday happened today (
----- January 6th -----
koinsmart [6:03 PM]
Wow you called it Adam
----- January 7th -----
koinsmart [1:23 AM]
Pretty dramatic retrace. Did you manage to catch it?
(edited)
----- January 8th -----
gladimor [9:26 PM]
Unfortunately no. I have moved to Poloniex margin trading to derisk.
koinsmart [11:12 PM]
Cpl days late
but no worries ...
----- January 9th -----
joel [6:47 PM]
joined #general
----- January 10th -----
joel [3:11 PM]
hi guys, I see some drama above - what happened? thanks
joel [3:20 PM]
@gladimor Adam, how about doing iao periodically, let's say every quarter, running it for a month?(with some marketing) Every iao would go up in price (e.g. last one ended on 12k, so next would go e.g.13k). That would give you more btc per asset and also rise the official price for old investors. And lastly, for this to work, I would suggest to discuss fixing the min. bid price on yobit (with yobit guys) so that it is equal to current iao price. Or do iao directly on yobit. That would benefit you, yobit(higher amounts=higher fees) and all investors. After all, omc is an asset not a currency, so it would suit it better than let it free float imo.
[3:24]
also, as for marketing, there is a bunch of trading groups (with mediocre to none results), so it might be good to present your omc fund to them. I believe you are very good trader, so they would all benefit, instead of trying to profit on their shitcoins - most of the time, they do not have a fucking clue what they're doing anyway... (edited)
[3:28]
and lastly, have you ever thought of sharing your knowledge of trading crypto via some video tuts/course? I would be buying it instantly and I guess many others. Easy money for you :smile:
joel [3:33 PM]
ah, so there was some loss, well, trading only with profits does not exist, so take your time off Adam and don't worry. If need be, skip the dividend.
----- Yesterday January 11th, 2017 -----
joel [7:42 PM]
@gladimor , please let us know the status - are we going to skip dividends? or are you recouping losses atm? or do you plan on sending dividends out? thanks for the info.
gladimor [10:24 PM]
We'll be skipping dividends, working to rebuilding the fund.
joel [11:06 PM]
ok, thank you for reply, best of luck to you to rebuilt the fund soon :+1:
[11:09]
also, I'd say, do another round of iao on btctalk or via yobit directly...
joel [11:15 PM]
oh, you've said earlier, that you wont do 2nd iao only private sale, my mistake :smile:
----- Today January 12th, 2017 -----
joel [9:27 AM]
@gladimor just a quick question - when do you expect the next dividend to be paid? End of Jan or most probably in Feb or Mar ? thanks for reply.
