MPOE, March 2013 Statement

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Operational results, MPOE

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Overall trade 482`472 contracts, of which -166`125 +164`067 Call, -77`088 +75`192 Put.ⁱ

Revenue : 56`461.67752633 BTC, of which :

• contracts sold : 56`418.31976676 BTC
• contracts exercised : 43.35775957 BTC

Expenditure : 84`256.3056806 BTC, of which :

• contracts bought : 75`698.31696131 BTC
• contracts exercised : 170.48262129 BTC
• capital expenses : 8`387.506098 BTC (83`959.02 × 9.99%)

Loss : -27`794.62815427 BTC

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Operational results, MPEx

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Revenue : 483.29198035 BTC, of which :

• Revenue from sales fee : 333.29198035 BTC (Total trade : 166`645.99017521 BTC)
• Revenue from new accounts : 150 BTC

Expenditure : 89.5111 BTC, of which :

• PR, 12 BTCⁱⁱ
• Servers, 0 BTCⁱⁱⁱ
• PDPC donations, 4 BTC^iv
• DDoS incidentals, 37.52 BTC^v
• FAQ translation, 10.85 BTC^vi
• Advertising, 25 BTC.
• Others, 0.1411 BTC^vii

Profit : 393.78088035 BTC

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Shareholders table

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Total shares : 1`000`000`000, of which :

1. Mircea Popescu, 888`284`714 shares,
2. Third parties 111`715`286 shares.

Total dividend : 393.78088035 BTC.

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Bondholders table

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Total capital : 83`959.02, of which

1. 198xX3n8ov4ejgEsWjt3SpPRkDuieL3EHA 120.00000888
2. 1Cg6JS9LkK7JRV87dGob7h5rz4pTuhzfb6 117.10000888
3. 1D7YtrxnyK3ug3Rvp9jX66T8kVzWww9Jr8 4`478.46233504
4. 1NTfLJi1AZgzeXNHF5Gx1sAmRj6RBE7qxe 100.00000888
5. 1Pk9FAH7dCGBZ1mw5HbU9AgAvYhrQnFZFp 100.00000888
6. 1GNKg5wuNmM4spsnMdz745x76ntnAiXKnS 100.00000888
7. 16yqE5GW2iLnXvCX3SHe6r5UbRFAuARond 2`261.23910617
8. 1swAzHw1zTWqoi5184VinvUxLWnBskPVW 3`708.33297766
9. 1CqQiHmp2T3TWXZx3J7yueDxH5rVnZ9A94 1`726.89016169
10. 1A2hqHVSUERAT3t1yJ7ggYCQccvH6pZGZm 2`904.9115173
11. Mircea Popescu 68`342.08385771

Loss applicable to bond capital : 27`794.62815427 BTC
Loss per BTC : 0.331049935.

MPBOR valid March 30th through April 26th : 9.9%.

Final bondholder list :

1. 198xX3n8ov4ejgEsWjt3SpPRkDuieL3EHA 80.2740137
2. 1Cg6JS9LkK7JRV87dGob7h5rz4pTuhzfb6 78.33405855
3. 1D7YtrxnyK3ug3Rvp9jX66T8kVzWww9Jr8 2`995.86767012
4. 1NTfLJi1AZgzeXNHF5Gx1sAmRj6RBE7qxe 66.89501244
5. 1Pk9FAH7dCGBZ1mw5HbU9AgAvYhrQnFZFp 66.89501244
6. 1GNKg5wuNmM4spsnMdz745x76ntnAiXKnS 66.89501244
7. 16yqE5GW2iLnXvCX3SHe6r5UbRFAuARond 1`512.65604705
8. 1swAzHw1zTWqoi5184VinvUxLWnBskPVW 2`480.68958644
9. 1CqQiHmp2T3TWXZx3J7yueDxH5rVnZ9A94 1`155.2032859
10. 1A2hqHVSUERAT3t1yJ7ggYCQccvH6pZGZm 1`943.24074831

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Miscellaneous

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The bot got hosed this month. Effective^viii loss was 19`407.1220562 BTC over 83`959.02 total capital, both records in absolute terms. In relative terms however the -23% this month doesn't even come close to the -43% beating we took the only other time we ever took a beating, that is August 2012. I guess such is to be expected when the underlying moves from low 20s to mid 90s within the space of one month. If it's any consolation, the majority of that loss came out of my own pockets - I guess I can now go to my grave having contributed ~15k BTC of my own to the stabilisation of BTC and the greater glory of Bitcoin finance. Speaking from experience, if you work out how much that comes to in fiat you may become nauseous.

Unrelatedly, MPEx is currently hiring. We are looking for two outstandingly accomplished individuals to fill the following positions :

1. Evangelist at large. Your job will be to educate the specialist public on everything to do with MPEx. If you have a history of speaking engagements at relevant (ie, finance) conferences and a good personal platform I'm very interested to hear from you.
2. Old style PR. Details here.

Both positions are roaming, which is to say you won't be expected to show up at an office. Both positions are actual jobs, as in, paid. Apply via email.

That's about it. Here's hoping to sunnier days.

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1. This represents ~45 million USD worth of notional derivative trade, a 150% increase over January's previous record of 190`817 contracts. [↩]
2. Luckily our the contract ran February to February and so I was able to negotiate down. BTC, the only medium in which employers diminish salaries over time. [↩]
3. Originally server expenses for MPEx - renting machines, bandwidth, administration etc - were negligible. This has changed with the March upgrade. We are currently running about $3`850 in monthly costs associated with hardware, bandwidth and maintenance/administration. I do not intend to introduce these expenses in the books for the current year, but please bear in mind that this situation is likely to change at the latest come 2014 - possibly even earlier if significant changes occur in share ownership. This choice overstates net profit by about 60 BTC at current rates, so please take this into account. [↩]
4. To pay for one year bronze cloaks (a value of 60 GBP each) for the two MPEx irc bots. This is reflective of my general philosophy - Freenode is being useful and may be running some risk doing so, and as such they should have something to show for it. [↩]
5. Exceptional expenses with hardware, consulting and such related to DDoS mitigation during the epic week. About 1 BTC from there will be a recurring monthly cost starting in 2014. [↩]
6. Chinese, Persian and Spanish so far. This item is probably going to come up now and again. [↩]
7. Sponsoring pigeons' market research & lulzprogramme by paying for one share of usagi's Silver craziness masquerading as an asset, which will allow him (ie, pigeons) to see the shareholder-only sikrit usagi nonsense. 0.001 of that is miner fee, and speaking of which : if you aren't adding any miner fees to your transactions it is perhaps time to start doing so. Free stuff is nice and all but how about we take the step into adulthood or something. [↩]
8. The 8`387.506098 BTC owed on interest is not exactly lost, it simply moves from principal into bondholder's hands as interest. [↩]