Topic: [BitFunder] BTCINVEST - Low risk investment fund | Market cap: 2000+ BTC - page 17. (Read 45540 times)

It's the time for another report and dividends again ASICMINER has continued to rally which was somewhat unexpected. We also has some unused coins - one option is to pay it out as dividends to shareholders, other is to just invest them. Thoughts?

I'd also appreciate it if you could leave me a rating using the new trust feature on bitcointalk. Just click on the trust link to my left.

Also, you can get a negative available balance on bitfunder

Revenue
ASICMINER dividends: 10.013 BTC
BTCQUICK: 0.037 BTC
G.SDICE dividends: 0.025 BTC

TOTAL: 10.075 BTC
Paid as dividends: 9.0675 BTC
Dividends per share: You will be issueing (9.06750000 / 4000) = 0.00226687 per share. Final Total: 9.06748000."

Assets
Not traded on an exchange:
203 ASICMINER (directly) - 501.41 BTC
116 NASTYFANS "seats" - 32.48 BTC

BitFunder
2031 G.SDICE shares: 3.87 BTC
48 G.ASICMINER-PT shares: 118.56 BTC
197,899 btcQuick: 13.88 BTC

Bitfunder total value: 136.31 BTC

Btcjam secured loan (remaining): 3 BTC
CoinLenders 20 BTC loan: 10.24 BTC

Total loans / lines of credit: 13.24 BTC

Total coins: 87 BTC

Total: 770.44 BTC
Shares outstanding: 4000
NAV/share: 0.192 BTC / share

UPDATE: There was a mistake with this report. The conclusion of scrybe's loan was not added to the total coins. I apologize for the mistake and the figures have being corrected. Thanks fluidjax for checking it over!

Don't feel like sifting through your records, just curious if anyone successfully cashed out (or received 100% back in returns).
Basically has anyone broken even yet?
I never got anything usable back, no working site, nothing worth the $280 even (was btc only $10 each back then? I know it was a btc quote you gave and you never actually finished, didn't realize you'd freeze the USD value in January without actually producing anything useful).

LOL.

1) BTCINVEST has started since Jan this month.
2) BTCINVEST has consistently turned a profit for shareholders.
3) Everything about BTCINVEST's holdings are public (you can check reports, or the asset list).

For those who don't know, MoneyPakTrader is sad that he paid me $260 via BTC, and now wants $2800 or so back because BTC rallied. He resorted to FUD and smear campaigns as part of his attempts to get a free long on me.


Yeah. Everything has a value, and I think even with SDICE's website being blocked to US citizens, everyone can send addresses, so picking up cheap shares isn't a bad idea (but the valuation of SDICE has obviously gone down since that announcement).

@Tradefortress, nice move dumping the G.SDice before the rest of us managed to I was waiting for an exit, but waited too long.
Does the fund hold any G.SDice now?.. Ohh,  I see from the Asset List,  2031?

WTF,
Has anyone recently donated I mean "invested" funds with TF?
TF scammed me out of 27 BTC, offered arbitration, refused to pay, then refused to even participate in arbitration at all which I paid for.
He never showed me or anyone else a working "final site" because he never actually coded a working site for me. He was invited to display a working copy of what he claims the 27 btc site I paid for but refused to do so. I have moved on, paid to have my site made and will donate any recoveries from TF to charity.
This is such a brazen scammer that I have included it in my forum sig.

Anyways, my question is just this:
1) People actually give TF BTC to "invest"?
2) If so, has anyone gotten any of their "investment" back from him since March?

Tnx for answering both questions and may your experience as creditor help you (and take over the help of your ASICMINER shares ;-) to do in itself profitable credit business in the Bitcoin economy.

I'm holding my share in BTCINVEST and keep track of your development. My only suggestion is to also state the disappointing changes and decisions in assets explicitly, together with your actions to prevent similar events from happening in the future (as you stated in your answer).

Hi joris,

The last time I got into contact with Aaron Carter was on Apr 22th:

---

2:56 PM me: hey
3:04 PM Aaron: hey there
3:49 PM me: how's it going?
4:37 PM Aaron: been a bit rough... having trouble with another tooth (in between dental surgeries) cuz I didnt have a ride and missed my appointment... so been medicated/sleeping a lot
4:40 PM My eyes are shutting on me though (its 1:40am), so I'll cya tomorrow. Will watch for you online

Apr 17th:

Aaron: not tonight
6:23 PM I just wanted to check in with you, and let you know I'm working on getting coins asap
  I'm expecting that I'll have some tomorrow, and will be back in business

--

Which, obviously did not happen and Aaron Carter has disappeared along with his debt. He fits in the profile of not intending to scam, but the BTC rally has caused him to disappear as I chatted to him frequently before on programming / mining. I no longer do long term loans denominated in BTC, and BTCINVEST's debt assets have being decreasing with the repayment of scrybe's LoC.

The performance on the loan portfolio parts are negative, but the lending criteria has substantially changed.

Let me know if you have any questions/comments.

What can you report on the loan to ATC777?

I can't find anything about BTCINVEST having written-off this loan... Significant to the balance and the real amount of risk involved.

Could you give a figure of the YTD performance of the BTCINVEST loan portfolio alone, excl. your generous backfills?

Thank you too (and friedcat)

Since my first buy of BTCINVEST at 0.099 / share on 4/7/2013, the NAV has gone up about 28%.

That's 28% in just one month, not including dividends! 

It looks like it will just continue.

Thank you for the diligent work you do, TradeFortress.

Nice dividend and good growth again, thank you! 

Report:

ASICMINER has more than 20% of the network hashpower as of writing, and while BFL is a lot closer to shipping they're still quite far ahead from introducing a significant amount of hashpower. We've diversified into NastyFans which has BFL preorders (and an active Jalapeno mining now), which has a quite stable share price.

Enjoy the dividends

Revenue
Share Buyback spread: 0 BTC
ASICMINER dividends: 4.455 BTC
scrybe line of credit interest: 0.1969 BTC
CoinLenders 20 BTC loan interest: 0.756 BTC
BTCQUICK: 0.037 BTC
G.SDICE dividends: 0.106 BTC

TOTAL: 5.5509 BTC
Paid as dividends: 4.995 BTC
Dividends per share:  "You will be issueing (4.99500000 / 3903) = 0.00127978 per share. Final Total: 4.99498134."

Assets
Not traded on an exchange:
253 ASICMINER (directly) - 328.39 BTC
116 NASTYFANS "seats" - 34.8 BTC

BitFunder
3115 G.SDICE shares: 9.59 BTC
44 G.ASICMINER-PT shares: 57.13 BTC
179,600 btcQuick: 19.68 BTC

Bitfunder total value: 86.4 BTC

scrybe line of credit: 35 BTC (pending to be closed/principal repaid)
Btcjam secured loan (remaining): 3 BTC
CoinLenders 20 BTC loan: 10.24 BTC

Total loans / lines of credit: 48.24 BTC

Total coins: 1.2 BTC

Total: 499.03 BTC
Shares outstanding: 3903
NAV/share: 0.1278 BTC / share

Yes, by asking me

scrybe:
16% APR / 0.6563% every 2 weeks

ATC777:
15% APR / 3.35416 repaid every month

CoinLenders 20BTC:
Monthly, 5%, 2 months - 10.756 repaid per month

Is there a way that we can see the details of the loans that you have listed under assets, such as expected payment amounts, interest rate, etc? Right now we just have a balance.

Yeah, it's called a share exchange, which can be considered a smaller version of a take over. Real world examples include Prophecy Coal and Victory Nickel. Prophecy Coal owns 10% of Victory Nickel which was achieved in an all-share exchange, or the asset exchange between Western Digital and Toshiba when they bought Hitachi's hard drive business. This is actually quite a common and accepted way of doing business in the real world. What you and MikeMark were suggesting, on the other hand, is indeed quite a funny joke

It works like this. Say my company, Apache Mining Company, wants to eat a small miner. We go to the miner and say, each of our shares represents about 6 mhash/sec. We'll give you 100 shares of our company for 600 shares of yours -- mhash for mhash. Like this, the dividend yield and approx. value of the AMC shares doesn't change; and the miner receives back the value of the dividend they pay out to us. Extend this idea a little further and you have what's known as an all-share takeover. The main difference is that when we get a controlling interest in the company we state we're not interested in managing the company. We did this to quite a few small miners back in the day; we owned 60% of DMC for instance, and 50%/40%/45% of various other miners I can't recall.

The benefit to AMC is simple; increased cash flow. The benefit to the miner is simple; stability of cash flow. From a business and shareholder perspective, for both companies, it is a win-win -- but only if the businesses complement each other.

This is how I plan to start up BMF again; I'd take our remaining unsold positions in RSM and what not, buy up a sizable position in something like LTC-MINING, and start making deals again. But right now, for TU.SILVER, I'm not interested in a general investment fund like BTCINVEST. I don't need a large investment position, and I've decided to stick with fixed interest rate bonds like LTC-ATF.B1 and BTC-BOND, I don't need a huge interest rate or huge profits, just a stable face value and a reasonable distribution/dividend will do.

Ah, well. I don't have time to know absolutely everything that has ever been said or done.

However, I'll try to be more original in the future... 

Usagi discovered this idea before... 

Nice dividend again, Thank you.

On the ATC777 loan, are they late in paying?

I loan out on btcJam also. I've decided that it's a very difficult place to reliably get interest. More than 25% of the total I loaned out appears to be non-performing. That's a horrible rate, especially for someone who is generally pretty thorough in checking out a potential borrower. I've watched many trying to use that system to make interest loose everything. The idea is a good one, it's just that there seem to be too many scammers using it.

Tell you what, you loan to me, I'll invest in BTCINVEST and we'll all make a great profit! 

Report:

Revenue
Share Buyback spread: 1.29 BTC
ASICMINER dividends: 4.1 BTC
scrybe line of credit interest: 0.1969 BTC

TOTAL: 5.5869 BTC
Paid as dividends: 5.0282 BTC
Dividends per share:  "You will be issueing [sic] (5.02820000 / 3678) = 0.00136710 per share. Final Total: 5.02819380."

Assets
Not traded on an exchange:
253 ASICMINER (directly) - 263.12 BTC

BitFunder
3115 G.SDICE shares: 8.10 BTC
44 G.ASICMINER-PT shares: 45.76 BTC
149,600 btcQuick: 11.22 BTC

Bitfunder total value: 65.08 BTC

btct.co
3 ESECURITYSABTC: 1.1 BTC

btct.co total value: 1.1 BTC

ATC777 loan (remaining): 28.73 BTC (might go the way of Ian Bakewell)
scrybe line of credit: 35 BTC
Btcjam secured loan (remaining): 3 BTC
CoinLenders 20 BTC loan: 20 BTC

Total loans / lines of credit: 86.73 BTC

Total coins: 21.6 BTC

Total: 437.63 BTC
Shares outstanding: 3678
NAV/share: 0.119 BTC / share

No, it now has a floating NAV


Yes