Bitcoin Difficulty Derivative - B Mine on Havelock (Live)


#1

I have been looking for alternative investments and decided to have a look at Havelock to see what was on offer, my first plan was to buy AM hash that was until they announced no payments for 2 weeks. So i looked into other options and thought that the B Mine shares looked ok. The are a derivative and basically you are buying the equivalent of 5 GH of mining power.
I had a look at the dividend history and it has paid out every day for a year.
The payments mach exactly with the bitcoin wisdom mining chart so right now 1 share pays 0.00005656 BTC.
I have bought 202 shares for a 1.09 BTC, my daily return will be 0.00005656 x 202 = 0.01142 per day this will drop every difficulty rise or will rise if difficulty drops. .
So this basically means buy 1 GHS of hashing power with no fees for 0.00107921 or 25 cents.
I will let you know how I get on as this may be an option for some, you can resell the shares back making ROI and profit a possibility.


#2

Anybody else that has shares in this? I really want to diversify my holding and want to have some more reactions from other people.


#3

I used to have AMHash shares on Havelock but sold them recently.


#4

Well I got some spare btc transferred in about 0.5BTC going to buy some and see how it turns out. The dividend payments look reasonable.

Going to do the same as with Hashnest re-invest the payouts for 30 days to increase the mining power.


#5

The reason I invested was that it seems to have payed dividends since it has run, so if you look at it in a mining sense it is probably the cheapest out there, I have money invested in Bitcoin cloud services that also has no fee’s but this works out to be cheaper.


#6

Day one dividend received and as expect 0.01142 BTC for 202 shares.


#7

Yep Only got 91 shares and got 0.00514696 BTC


#8

Well sold everything in Zen, got more BTC invested more in this and elsewhere, hoping to get back to my same payout per day as I had in September. I think I will have a long climb back to get were I was in early December as I am like most people about 70% down from there.


#9

I hope you haveluck


#10

Payment received on time and as expected


#11

Payment received and as expected share price adjusting for the next difficulty rise, .0053 BTC


#12

Website seems to be down.


#13

Working for me, and dividend paid as expected


#14

Yeah it came back online but was offline for a few hours.


#15

So how does HaveLock work anyway? I’ve been reading a bit, but I still don’t understand where they get the bitcoin they’re paying out from.


#16

It’s basically different funds. The AMHash B1 fund for example was 5 PH which was sold via Havelock. The fund is owned by AMHash so they are paying out the dividends.


#17

The way I understand it they have a funding period until they have enough money to pay out 200 days of dividends at the current dfficulty rate, if the difficulty rate increases your dividend goes down, however if this means that the total BTC held would then exceed 200 days of payments then the people holding B-Sell shares get a payment. It looks like that the increase would need to be high.
So basically you are betting that the difficulty will not decrease but also not rise significantly enough to payout B sell shares.

This is clear as mud to me but by what I can work out we have about 150 days of payouts left, then a new round starts


#18

From what I understand they guarantee a 200 days payout window.


#19

The site is down at the moment went down the same time as hashnest.


#20

Havelock is in Maintenance, funny thing is I also have a bitcoin cloud mining contract and it has not paid either, I had a suspicion that they might just be using the B Mine contracts to pay out it is looking like I am right, the last time havelock was down they paid late as well