Topic: [AUTOTRADE]BTC hedge fund by BtcAutoTrader(The first automated BTC hedge fund) - page 8. (Read 37121 times)

It's not a hedge fund (despite claims otherwise). It's an arbitrage-operation. Or it claims to be anyway, no proof was provided of actual trades happening.

Weekly dividend is part of what the contract stipulates:

"Dividend policy
    20% of profit will be the account management fees, all the remaining 80% is used to share out bonus, each fund will be share one over one million of 80% of profits.
    Shared out bonus at 15:00 (GMT+8) in every Monday, if the day is China legal holiday will postpone to the next working day."

 so dividend should still be made now on Monday and also in the future no matter what votes they put up and the result of those, there is no clause in the contract that allowes them to change that. So even if they in there announcement say:

"   5. Whether IPO or sell BtcAutoTrader(arbitrage version), upgrade AUTOTRADE to the shares will be with the price 0.001 BTC/share, but we will temporarily suspended the arbitrage trade, adjusted to work during the day for priority develop BtcAutoTrader, after released BtcAutoTrader formally, restart the arbitrage trade."

dividend is not anything they are allowed to suspend as there is no claus for such change in the contract.So as there is no clauses in the contract for the type of chages that they suggest, a possible buyback of shares or a possible upgrades to a new share with another contract and a possible IPO with new shares sold will all have to be volentary and new shares will have to be issued under another project on cryptostocks and the ones that dont want to have there shares buyed back or upgraded should be allowed to keep them and continue to recieve dividends just like before, accouring to the contract.

What are the assets held by this hedge fund?

Is a dividend still being paid on Monday or does this voting thing need to happen first? I'm a new member to this stock so just curious.

i honestly hope i have. Thanks for taking the time to reply.
People are jumpy in here, with all the latest developments.
Your project has had a very stable course so far, i believe that the recent tanking could have been avoided.
(although i do understand that shareholders selling is out of your hands.)

Lets see what the people decide on this. I'm curious.

Dear okaynow,

You must have misunderstood, the sequence of events of this, please refer to our shareholders-mail(2014/04/20) and announcement(2014/04/18、2014/04/24).

Best regards.

bentleysui, how come this "issue" came to be realised as soon as all the shares had been sold and the IPO flag lifted?

Dear investors,

We are glad to hear your opinion,Added a vote:

Best regards.

Your right if there will be a buyback at the IPO price 0.001 that would be a good option, then people could choose wherther they would like to stay invested or exit there position, maby thats what they meant in this section:

" 5. Whether IPO or sell BtcAutoTrader(arbitrage version), upgrade AUTOTRADE to the shares will be with the price 0.001 BTC/share, but we will temporarily suspended the arbitrage trade, adjusted to work during the day for priority develop BtcAutoTrader, after released BtcAutoTrader formally, restart the arbitrage trade."

But for this to be possible, the AUTOTRADE team would either have to already own 200 000+ of the total 1 000 000 shares and intend to keep them or be willing put own money into the buyback if there would be a large interest in selling back shares at the 0.001 btc buyback price.

I just sent the email below to [email protected]  about the vote options on Cryptostocks

To:  [email protected]
Subject: Objection to Vote Options on Cryptostocks


To: management of Autotrade (Arbitrage Operations)


I write you to highlight a major omission on your part with regards to the options  being offered to vote on , at Cryptostocks. This omission has also been highlighted by the user  “Thy” on Bitcointalk. This is the option to ;

Leave Autotrade alone as is  and let it operate as promised but with a reviewed rate of compensation for management , which can be voted for. This will allow Autotrade focus on arbitrage and pay salaries effectively. The user “Thy” described the option and recommended procedure quite well .

This to me is the best course of action for you to have the necessary credibility to issue another successful  IPO in the bitcoin community  for the other two business possibilities-  Sales of Autotrade without arbitrage and Coffee  shops.

If you want to get into these new businesses , I believe you should do them under another company  or IPO  , unrelated to Autotrade (arbitrage) .These new businesses should stand alone by them selves and should not involve any buyback or merging of shares. If you wish to do any buyback or merging, the offer should be presented with clear option of yes or no on the transaction. In other words , shareholders should have a say in wheither the current operation is merged or bought out (buyback) or left alone. Not just the option being  merged or buyback

 

Right now , your attempt to forcefully introduce totally unrelated   businesses into a well-define  arbitrage business is causing a serious loss of confidence  , that is reflected in the major crash of the stock price.  With the current situation, where investors are dumping shares, there will be no credibility for you  and a new IPO may be very difficult, given the recent history of losses to investors. It appears these losses is a direct response to a loss in confidence with the current approach of trying to build the business. A successful Autotrade (arbitrage) operation that you just finished raising capital for will be extremely  helpful with your  raising a new IPO for the new businesses so long as the new business does not diminish the current Autotrade (Arbitrage) by selling the same arbitrage application.  But the new business don’t have to be forcefully put within the same operation. They can be separate companies for investors , who are made fully aware of what they are investing in. As opposed to forcing an investor , who was investing in a proprietary arbitrage operation , to either become an investor in a software marketing operation and a chain of coffee shops, or get bought out by force. This is the cause of  the turmoil in the share price right now. It can be resolved by taking the right steps.

 

So please remove the current options and ask investors if they want to continue  or not,with the arrangement /contract  you proposed when you started Autotrade (Arbitrage)  in January. So may people have bought shares in IPO  hoping to enjoy the ride, But all of a sudden you are changing the game plan without consulting shareholders if they want to change direction .

 

I think it will be in your long-term interest  to have a successful Autotrade( arbitrage), which will give you credibility to launch other IPOs for Coffee shops and other software (not arbitrage).

I believe , you should never offer  for public sale the Autotrader (with arbitrage) as long as you have investors in  the IPO you have just raised as this will conflict with the basis on which you raised IPO money from investors.

 

EDITED: Please act quickly to get shareholders to vote first on wheither to continue Autotrade (arbitrage) operation  as is,  without adding software marketing and  coffee shops or they want the company to diversify into software marketing of Autotrader (without arbitrage) and coffee shops. If the answer is the later then you can continue with the other options you have on Cryptostocks. If the answer is the former  then you can just raise IPO for the new businesses. You quick response is required to rebuild credibility and share price.

 

Regards

Tricomp (Bitcointalk Username)

I am for a buyback at around the IPO price, I think it would be the best for everyone. The people that want to invest and those who want to withdraw.

Obviously bummed about the recent tanking of share price and have to say that Thy raises some very good points.  However, at the same time I am encouraged by the fact that there does seem to be an honest effort taking place on the part of who or whomever is behind autotrade.  (only an opinion at this point and have been wrong on numerous occasions before so take it for what it's worth)

Going to have to give these voting option(s) some serious thought.

Well if the buyback price is 0.001 BTC per share, I think most of the shareholders wouldn't mind it. Anyway, it is in hands in majority of shareholders.
But I think I lack explanation to be taking part in a vote right now.

+1.

+1  . In total agreement. 

All voting options is clearly in violation of there contract and the least intrusive way to solve the problem is not listed as an option so i would reccomend Autotrade to call the voting void and remove the voting as soon as possible and rethink before they post something else up for voting.

A buyback at an unspecified price or a convertion of the shares to something else with different contract not specified either or the selling of something that could effect the current autotrades performance for an unspecified amount is not options mentioned in the contract and would be a violation of the contract and it would most likely be consithered fraud if people would end up loosing BTCs because of that, you did for example continue selling shares for 9 weeks at 0.001 with people locked into there position(by the active IPOflag) when you had important information you dident publish.


If you want to start a new division that autotrade is working on you will have to issue a new project for that on cryptostocks &/or havelock or whatever exchange you prefer, you cannot breach the excisting contract with Autotrades shareholders because of that.


If the cost you currently have(32%?) is over the 20% part of the profit you currently take you need to specify every expences you have so people can look that over so things is correct.
Then you can come back with a vote on cryptostocks that people can vote on to accept how you should adjusting what the %cut should be to cover your costs, a simple way to solve it would probably be to set a variable rate 20%-40% as long as the BTCprice is below the 800? USD level (or what the breakpoint is that would bring the expenses down under 20% again) and then specify each week when the dividends is beeing paid out what % has been taken depending on the current USD/yen exchange price that week so it matches your expenses and sallerys.

To my understanding scenarios are:

1. Sell BtcAutoTrader (arbitrage version)
2. IPO

with options:

a) buyback shares
b) upgrade shares

but I still don't understand how this is going to influence current AutoTrade shareholder.
Therefore I would love if someone could answer the following questions:


1. If IPO is selected, you will not sell BtcAutoTrader to anyone? what about non-arbitrage version? what is the difference?
2. Regardless of scenarios, your plan is still to develop exchange, coffee shops, right?
3. If shares are upgraded how they will be upgraded?  for example, if I own 1000 AUTOTRADE shares, how much BtcAutoTrader shares will I get?
4. Will you still be paying the same weekly AutoTrade dividends in case of upgrade? +potentially other divindends that will come from future products/services?
5. When the upgrade of shares will take place?
6. In case of buyback of shares what will be the price of each AUTOTRADE share?
7. When will the buyback of shares take place?
8. Will you still pay weekly AUTOTRADE dividends prior buyback happens?
9. In case of buyback will you suspend the AUTOTRADE share trading on cryptostocks?

can someone comment on the voting options?

I couldn't entirely understand the offered scenarios.

Time to start cutting full time staff!!

i dont think that they did not understand what net profit is.

it goes whithout saying that if they generate dividend from net profit, the dividend per share should be very small or minus which can not fulfill IPO task at all. The main problem is their IPO price little bit too low or in other words they did not accurately calculate what is the break even point.