Topic: [BTC-EQTY] A new Bitcoin Investment Fund (Read 6040 times)
Any update?
Hey everyone,
I am considering opening up the fund to the public due to a significant amount of interest.
Please PM me if you would like to invest, and specify how much BTC you roughly want to invest with.
In a few days I will gauge the response and provide specifics on how it will work, providing I get enough interest.
You can view the latest performance statement here: https://docs.google.com/spreadsheet/ccc?key=0AuQ3xQRnpXqEdG5yMHZCaVkydWM5V1pzZld6WmtZa2c#gid=0
I am considering opening up the fund to the public due to a significant amount of interest.
Please PM me if you would like to invest, and specify how much BTC you roughly want to invest with.
In a few days I will gauge the response and provide specifics on how it will work, providing I get enough interest.
You can view the latest performance statement here: https://docs.google.com/spreadsheet/ccc?key=0AuQ3xQRnpXqEdG5yMHZCaVkydWM5V1pzZld6WmtZa2c#gid=0
Does anyone use trading bots? A fund that used trading bots could be interesting....
If you ever open this to the public again, please let me know. You certainly seem to know your stuff.
+1
If you ever open this to the public again, please let me know. You certainly seem to know your stuff.
June Monthly Statement
Detailed statements can be found here: https://docs.google.com/spreadsheet/ccc?key=0AuQ3xQRnpXqEdG5yMHZCaVkydWM5V1pzZld6WmtZa2c#gid=0
Headlines
- Net asset value increased by a very impressive +54.69%, and now totals 90.95505159 BTC.
- Annualized return for fund is at a whopping +645.29% per year!
- Net fund profit was +32.15505159 BTC this month, or +54.69%.
The fund asset value has nearly doubled since its inception just 37 days ago. The initial investment was 58.8 BTC, and from that investment the fund has generated a net profit of +32.15505159 BTC.
Detailed statements can be found here: https://docs.google.com/spreadsheet/ccc?key=0AuQ3xQRnpXqEdG5yMHZCaVkydWM5V1pzZld6WmtZa2c#gid=0
Headlines
- Net asset value increased by a very impressive +54.69%, and now totals 90.95505159 BTC.
- Annualized return for fund is at a whopping +645.29% per year!
- Net fund profit was +32.15505159 BTC this month, or +54.69%.
The fund asset value has nearly doubled since its inception just 37 days ago. The initial investment was 58.8 BTC, and from that investment the fund has generated a net profit of +32.15505159 BTC.
You are correct for the most part. But what you aren't taking in to account is timing. For example all the ASICMINER shares acquired in this fund were bought at lows, and held at highs of the last 20-25 days (since the fund started).
There is no doubt that I really like ASICMINER, while disliking other favorites. (Also the fund doesn't just hold ASICMINER). Anyway, the performance speaks for itself, so I don't really need to say anything more. Even if you account for ASICMINER's share price growth, this fund has still yielded a greater return, whilst being somewhat diversified.
There is no doubt that I really like ASICMINER, while disliking other favorites. (Also the fund doesn't just hold ASICMINER). Anyway, the performance speaks for itself, so I don't really need to say anything more. Even if you account for ASICMINER's share price growth, this fund has still yielded a greater return, whilst being somewhat diversified.
Hey everyone,
For those interested in following this fund, here's an update:
In the last 25 days, the fund has increased in value by a whopping 17.08%. The annualized rate of return is a very impressive +249.37% per year.
Comparisons
- As a comparison, ASICMINER's latest few dividends (which were record high dividends) return around an annualized figure of 65% per year.
- Fixed interest would return you around 25% per year.
I am pleased thus far with the fund. If the fund continues to perform strongly and offer good returns, I will consider opening it up to the public, for those who may be interested.
For those interested in following this fund, here's an update:
In the last 25 days, the fund has increased in value by a whopping 17.08%. The annualized rate of return is a very impressive +249.37% per year.
Comparisons
- As a comparison, ASICMINER's latest few dividends (which were record high dividends) return around an annualized figure of 65% per year.
- Fixed interest would return you around 25% per year.
I am pleased thus far with the fund. If the fund continues to perform strongly and offer good returns, I will consider opening it up to the public, for those who may be interested.
It looks a bit like you may be making a slightly unfair and misleading comparison.
You're mainly holding ASICMINER.
When calculating your own profits you include the increase in share value of ASICMINER as well as the dividends you received from them. Then you compare it to just the dividends from ASICMINER.
That's claiming that a pass-through to ASICMINER (which takes a management fee) can somehow outperform ASICMINER itself.
If you want to compare your performance to ASICMINER's then you also need to add in the growth in price ASICMINER itself has experienced. And it isn't the same story then.
If you're going to hold mainly ASICMINER then you're pretty much just a pass-through to ASICMINER - with insufficient diversity to offer any protection against any significant fall in ASICMINER prices. Nearly everyone on these forums already knows ASICMINER has been a great investment really - and doesn't need to buy into a fund to gain exposure to it. So making profit on the back of ASICMINER investments isn't offering anything of real value - far more attractive would be if you could generate returns similar to ASICMINER's dividends (NOT growth) without ASICMINER exposure - then you'd be offering a useful alternative and a way for people to diversify/spread risk.
Hey everyone,
For those interested in following this fund, here's an update:
In the last 25 days, the fund has increased in value by a whopping 17.08%. The annualized rate of return is a very impressive +249.37% per year.
Comparisons
- As a comparison, ASICMINER's latest few dividends (which were record high dividends) return around an annualized figure of 65% per year.
- Fixed interest would return you around 25% per year.
I am pleased thus far with the fund. If the fund continues to perform strongly and offer good returns, I will consider opening it up to the public, for those who may be interested.
For those interested in following this fund, here's an update:
In the last 25 days, the fund has increased in value by a whopping 17.08%. The annualized rate of return is a very impressive +249.37% per year.
Comparisons
- As a comparison, ASICMINER's latest few dividends (which were record high dividends) return around an annualized figure of 65% per year.
- Fixed interest would return you around 25% per year.
I am pleased thus far with the fund. If the fund continues to perform strongly and offer good returns, I will consider opening it up to the public, for those who may be interested.
Hey all, the first statement is now available. You can find it here: https://docs.google.com/spreadsheet/ccc?key=0AuQ3xQRnpXqEdG5yMHZCaVkydWM5V1pzZld6WmtZa2c&usp=sharing
Summary:
- Because the fund began on May 23rd, The first monthly statement period is just 8 days long.
- Investment assets rose by 2.22459023 BTC, or +3.78%. The normalized 31 day growth rate was +14.64%. NAV as of May 31st is 61.564244055 BTC.
- Despite little to no movement in ASICM share price since the fund opened (23rd of march), I am pleased of the growth rate of the fund.
- No dividend was issued. If a 100% dividend was issued, its normalized yield rate would have been 174.99% PA, or 3.4% per 8 day period.
Summary:
- Because the fund began on May 23rd, The first monthly statement period is just 8 days long.
- Investment assets rose by 2.22459023 BTC, or +3.78%. The normalized 31 day growth rate was +14.64%. NAV as of May 31st is 61.564244055 BTC.
- Despite little to no movement in ASICM share price since the fund opened (23rd of march), I am pleased of the growth rate of the fund.
- No dividend was issued. If a 100% dividend was issued, its normalized yield rate would have been 174.99% PA, or 3.4% per 8 day period.
do you have a strategy or a plan on how you are going to deal with asicminer shares or is it a wait and see and react emotionally once things start moving in one way or another?
you don't need to share the details, just if you have one or not.
you don't need to share the details, just if you have one or not.
At this time and in the short-mid term, I really like ASICMINER. I will not be selling unless something significant happens. I also plan on accumulating more when the opportunity arises for better value.
do you have a strategy or a plan on how you are going to deal with asicminer shares or is it a wait and see and react emotionally once things start moving in one way or another?
you don't need to share the details, just if you have one or not.
you don't need to share the details, just if you have one or not.
is your Fixed Interest assets related to mining too?
would be nice and helpful for everyone.
Seems like an awfully high percentage involved in Asicminer. From my understanding, it seems to be a bet against appreciation in $ of bitcoins ?
Try and make the results as publicly verifiable as at all possible (not always an easy task, this).
would be nice and helpful for everyone.
Seems like an awfully high percentage involved in Asicminer. From my understanding, it seems to be a bet against appreciation in $ of bitcoins ?
The fixed interest Assets are currently all allocated in a coinlender account, earning ~25% PA interest. They are in a CD for 30 days.
is your Fixed Interest assets related to mining too?
would be nice and helpful for everyone.
Seems like an awfully high percentage involved in Asicminer. From my understanding, it seems to be a bet against appreciation in $ of bitcoins ?
Try and make the results as publicly verifiable as at all possible (not always an easy task, this).
would be nice and helpful for everyone.
Seems like an awfully high percentage involved in Asicminer. From my understanding, it seems to be a bet against appreciation in $ of bitcoins ?
The statement is here: https://docs.google.com/spreadsheet/ccc?key=0AuQ3xQRnpXqEdG5yMHZCaVkydWM5V1pzZld6WmtZa2c#gid=0
Though keep in mind the investment period is only about 1.5 days. So the stats are very much premature.
Also making changes/alterations to it all the time, its very premature.
Though keep in mind the investment period is only about 1.5 days. So the stats are very much premature.
Also making changes/alterations to it all the time, its very premature.
Hi everyone,
I have elected to close this fund to the public for now. Instead, I will be the sole shareholder of the fund, and the results will be published publicly if you are interested in following this funds performance. I will post the first statement at the end of May.
I have elected to close this fund to the public for now. Instead, I will be the sole shareholder of the fund, and the results will be published publicly if you are interested in following this funds performance. I will post the first statement at the end of May.
Not a bad way to go about it. Try and make the results as publicly verifiable as at all possible (not always an easy task, this).
Hi everyone,
I have elected to close this fund to the public for now. Instead, I will be the sole shareholder of the fund, and the results will be published publicly if you are interested in following this funds performance. I will post the first statement at the end of May.
I have elected to close this fund to the public for now. Instead, I will be the sole shareholder of the fund, and the results will be published publicly if you are interested in following this funds performance. I will post the first statement at the end of May.
yeah but my proposed IPO was larger than anything currently seen in this community. for an initial offering
If yes can I get a link to some of that material?
Though you couldn't possibly know what my experience is, or how qualified I am, you have chosen to put me in the pool of "idiocy" (your words). That's your choice,
It's not me putting you in that pool, it's your own actions putting you in that pool. It is my choice to express this, but it is not however an arbitrary, subjective, personal slant, if that's what you're intimating. The internet doesn't know (and doesn't care) if you're really a dog. As long as you meow you're a cat.
It's your wake-up call, and you're very much welcome to use it that way. Quite frankly I don't care what you assume of me after having a ten ton anvil dropped on your head on your first herpderp post. If you're still here in a year or two, and if you've meanwhile managed to do one or two things that didn't blow up, or at least didn't blow up much more spectacularly than davout's shit, then I'm likely to start listening.
So now. You've got a lot of catching up to do, and hopefully another foot for later.
I did learn a little (that the size of my offering was too large for the current bitcoin economy) but since this is the only place to offer securities, we need to fix the infrastructure first before larger and more diverse offerings can be accepted.
That's pretty ridiculous stuff. The "current Bitcoin economy" is something like one billion dollars. From what I hear it's you that was judged too small for your proposed offering, not the economy.
Specifically what "we" and specifically what "infrastructure" is this about?
yeah but my proposed IPO was larger than anything currently seen in this community. for an initial offering
The emphasis on post count is a great way for jobless people or teens with a lot of time to spare to gain credibility, indeed.
I just don't care to form a judgement on 1 or 2 bad (or good) posts.
I even went to their irc channel to talk about this, their emphasis on the WoT and forum post count is completely out of touch with reality, leading to even further arbitrary scrutiny to determine legitimacy or the lack thereof. I did learn a little (that the size of my offering was too large for the current bitcoin economy) but since this is the only place to offer securities, we need to fix the infrastructure first before larger and more diverse offerings can be accepted. Which is something I am lukewarm to addressing.
The emphasis on WoT and Post counts is not at all out of line. This is the internet, there is really no other way for people to reasonably judge who they are dealing with. Even with those cautions a lot of scams have happened, a lot of people have been burned.A time might come when there is a better way but for now until there is a verified track record to look at we have no way of telling a 'real trader' from a 13yr old in mom's basement.
One well written description of a project can too easily be a cut and paste.
xaviarlol I started a fund too, but I only have family and friends in it, they trust me....LOL I am going to run that a while before I invite strangers let alone people in the forum. Also unless you have a proven track record, starting a fund with a one-off fee to join is not going to have them flooding your gates. If you are good as you claim to be why not make your money with the performance fee only??
I am always on the look out for funds to invest my funds money in.
I am always on the look out for funds to invest my funds money in.
Though you couldn't possibly know what my experience is, or how qualified I am, you have chosen to put me in the pool of "idiocy" (your words). That's your choice,
It's not me putting you in that pool, it's your own actions putting you in that pool. It is my choice to express this, but it is not however an arbitrary, subjective, personal slant, if that's what you're intimating. The internet doesn't know (and doesn't care) if you're really a dog. As long as you meow you're a cat.
It's your wake-up call, and you're very much welcome to use it that way. Quite frankly I don't care what you assume of me after having a ten ton anvil dropped on your head on your first herpderp post. If you're still here in a year or two, and if you've meanwhile managed to do one or two things that didn't blow up, or at least didn't blow up much more spectacularly than davout's shit, then I'm likely to start listening.
So now. You've got a lot of catching up to do, and hopefully another foot for later.
I did learn a little (that the size of my offering was too large for the current bitcoin economy) but since this is the only place to offer securities, we need to fix the infrastructure first before larger and more diverse offerings can be accepted.
That's pretty ridiculous stuff. The "current Bitcoin economy" is something like one billion dollars. From what I hear it's you that was judged too small for your proposed offering, not the economy.
Specifically what "we" and specifically what "infrastructure" is this about?
I even went to their irc channel to talk about this, their emphasis on the WoT and forum post count is completely out of touch with reality, leading to even further arbitrary scrutiny to determine legitimacy or the lack thereof. I did learn a little (that the size of my offering was too large for the current bitcoin economy) but since this is the only place to offer securities, we need to fix the infrastructure first before larger and more diverse offerings can be accepted. Which is something I am lukewarm to addressing.
The emphasis on WoT and Post counts is not at all out of line. This is the internet, there is really no other way for people to reasonably judge who they are dealing with. Even with those cautions a lot of scams have happened, a lot of people have been burned.A time might come when there is a better way but for now until there is a verified track record to look at we have no way of telling a 'real trader' from a 13yr old in mom's basement.
One well written description of a project can too easily be a cut and paste.
With all due respect, this sounds like a rant and is nonsense.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
Bitcoin has risen to where it is now precisely because of me imposing this here correct attitude against the inception to early 2012 prevailing mistaken attitude of noobish idiocy that you seem to favor. BTC wallowed around 10 per as long as the Global Scam Exchange folk were the prevailing crowd. This was not a coincidence.
The mere fact that you have the unmitigated gall to presume you know the history when you don't, and the boneheaded cluelessness to then use completely wrong "arguments" built on this resounding, absolute ignorance when confronted by the very people who wrote that history is one of those "only on the Internet" sorts of things. At the very least don't add hypocrisy to insult by prefacing that nonsense with "due respect". There's no respect there, in spite of plenty of respect being due. Claiming otherwise is not helping you.
Also don't misrepresent what I say. It's not a matter of "everything", it's a matter of noob ventures without a chance in Hell. Those aren't "everything" by any means.
For starters, no, I don't/didn't know who you are. What you said initially sounded aggressive and arrogant, hence my initial response to you. But alas your experience appears to have put you in a position to make such a generalization.
While I am not fond of the elitist attitude expressed in your second post, you clearly have been "around the block" on this subject and are qualified to make such assertions. Though you couldn't possibly know what my experience is, or how qualified I am, you have chosen to put me in the pool of "idiocy" (your words). That's your choice, but don't expect people to not react in the way I did (and worse).
I even went to their irc channel to talk about this, their emphasis on the WoT and forum post count is completely out of touch with reality, leading to even further arbitrary scrutiny to determine legitimacy or the lack thereof. I did learn a little (that the size of my offering was too large for the current bitcoin economy) but since this is the only place to offer securities, we need to fix the infrastructure first before larger and more diverse offerings can be accepted. Which is something I am lukewarm to addressing.
With all due respect, this sounds like a rant and is nonsense.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
Bitcoin has risen to where it is now precisely because of me imposing this here correct attitude against the inception to early 2012 prevailing mistaken attitude of noobish idiocy that you seem to favor. BTC wallowed around 10 per as long as the Global Scam Exchange folk were the prevailing crowd. This was not a coincidence.
The mere fact that you have the unmitigated gall to presume you know the history when you don't, and the boneheaded cluelessness to then use completely wrong "arguments" built on this resounding, absolute ignorance when confronted by the very people who wrote that history is one of those "only on the Internet" sorts of things. At the very least don't add hypocrisy to insult by prefacing that nonsense with "due respect". There's no respect there, in spite of plenty of respect being due. Claiming otherwise is not helping you.
Also don't misrepresent what I say. It's not a matter of "everything", it's a matter of noob ventures without a chance in Hell. Those aren't "everything" by any means.
For starters, no, I don't/didn't know who you are. What you said initially sounded aggressive and arrogant, copiously generalized, and unthoughtful, hence my initial response to you. But alas your experience appears to have put you in a position to make such a generalization.
While I am not fond of the elitist attitude expressed in your second post, you clearly have been "around the block" on this subject and are qualified to make such assertions. Though you couldn't possibly know what my experience is, or how qualified I am, you have chosen to put me in the pool of "idiocy" (your words). That's your choice, but don't be surprised when people react in the way I did, and assume you are a douche (or douchette in your case), for lack of knowing better.
New people have no business starting "funds". Not now, not ever.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
With all due respect, this sounds like a rant and is nonsense.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
they did the same to me with my company's High Frequency Algorithm Fund, just thought I'd give you a heads up. I had to drastically scale back the size of the proposed offering but this greatly shifted the cost benefit analysis to the point where this market is simply not mature enough for it.
I made the same observations as you as there is literally no way to not be defensive when you are trying to actually get something done, but it won't help, thats all I'm trying to say
Let me quote this from you:
Quote
Okay I was able to look those two funds up.
Jokerdragon's seems to have been running for a year, the screenshots on the blog sites are interesting because some people wanted to see something similar from this offering.
Exchange.ESIF's thread pretty much has the exact same scrutiny as mine, except all by you.
Jokerdragon's seems to have been running for a year, the screenshots on the blog sites are interesting because some people wanted to see something similar from this offering.
Exchange.ESIF's thread pretty much has the exact same scrutiny as mine, except all by you.
The fact that you're not aware of competing offerings until people mentioned it nor how they are all scammy as fuck should tell you why you should not be doing a "High Frequency Trading Algorithm ETF IPO".
obscure thinly traded scams were LITERALLY the last thing on my mind when I decided to offer this diversification to the bitcoin community
I maintain that market research on exchange liquidity and the hedging algorithm is way more important, obviously this is where we disagreed
the only thing worth caring about from other funds would be to provide competitive maintenance fees or dividends, thats how it should be, but thats not how it is here, I hope you can see this is an obvious roadblock to the bitcoin economy and investment community
The BTC economy actually could use more new ventures.
The problem comes from people jumping in with both feet before they put a toe in the water to check the temperature. Experience in other 'markets' is not enough, BTC isn't other markets, this one is actually free and unregulated.
Since we don't have gov't toadies telling people what to do, and courts and police to back it all up the community takes care of itself.
To get a new venture going you need to spend some time, talk to people, demonstrate your knowledge and trustworthiness.
If you make a new venture that goes badly from the investors point of view there is no practical difference between that and a deliberate scam ....
The problem comes from people jumping in with both feet before they put a toe in the water to check the temperature. Experience in other 'markets' is not enough, BTC isn't other markets, this one is actually free and unregulated.
Since we don't have gov't toadies telling people what to do, and courts and police to back it all up the community takes care of itself.
To get a new venture going you need to spend some time, talk to people, demonstrate your knowledge and trustworthiness.
If you make a new venture that goes badly from the investors point of view there is no practical difference between that and a deliberate scam ....
New people have no business starting "funds". Not now, not ever.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
With all due respect, this sounds like a rant and is nonsense.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
they did the same to me with my company's High Frequency Algorithm Fund, just thought I'd give you a heads up. I had to drastically scale back the size of the proposed offering but this greatly shifted the cost benefit analysis to the point where this market is simply not mature enough for it.
I made the same observations as you as there is literally no way to not be defensive when you are trying to actually get something done, but it won't help, thats all I'm trying to say
Let me quote this from you:
Quote
Okay I was able to look those two funds up.
Jokerdragon's seems to have been running for a year, the screenshots on the blog sites are interesting because some people wanted to see something similar from this offering.
Exchange.ESIF's thread pretty much has the exact same scrutiny as mine, except all by you.
Jokerdragon's seems to have been running for a year, the screenshots on the blog sites are interesting because some people wanted to see something similar from this offering.
Exchange.ESIF's thread pretty much has the exact same scrutiny as mine, except all by you.
The fact that you're not aware of competing offerings until people mentioned it nor how they are all scammy as fuck should tell you why you should not be doing a "High Frequency Trading Algorithm ETF IPO".
New people have no business starting "funds". Not now, not ever.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
With all due respect, this sounds like a rant and is nonsense.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
they did the same to me with my company's High Frequency Algorithm Fund, just thought I'd give you a heads up. I had to drastically scale back the size of the proposed offering but this greatly shifted the cost benefit analysis to the point where this market is simply not mature enough for it.
I made the same observations as you as there is literally no way to not be defensive when you are trying to actually get something done, but it won't help, thats all I'm trying to say
With all due respect, this sounds like a rant and is nonsense.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
Bitcoin has risen to where it is now precisely because of me imposing this here correct attitude against the inception to early 2012 prevailing mistaken attitude of noobish idiocy that you seem to favor. BTC wallowed around 10 per as long as the Global Scam Exchange folk were the prevailing crowd. This was not a coincidence.
The mere fact that you have the unmitigated gall to presume you know the history when you don't, and the boneheaded cluelessness to then use completely wrong "arguments" built on this resounding, absolute ignorance when confronted by the very people who wrote that history is one of those "only on the Internet" sorts of things. At the very least don't add hypocrisy to insult by prefacing that nonsense with "due respect". There's no respect there, in spite of plenty of respect being due. Claiming otherwise is not helping you.
Also don't misrepresent what I say. It's not a matter of "everything", it's a matter of noob ventures without a chance in Hell. Those aren't "everything" by any means.
get a wot would be a good start
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Satoshi is not on my buy list. The problem with them is that when bitcoins appreciate in value, the bet turnover drops lower. This is because people are in the mindset of USD when part-taking in gambling activities. This means that Satoshi revenue growth will continue to be stunted and hamstrung by a rising bitcoin value. This is the opposite of a company like say, ASICMINER, which see high revenue growth on the back of higher bitcoin values.
Also, the entertainment value of their gambling systems are lacking.
And ASICMINER revenue depends much more on difficulty and sustained technological lead than bitcoin value - that correlation may be even negative. Because if bitcoin rises, more people restart mining on older hardware or botnets.
Jurov, this is entirely incorrect. I showed proof a couple months ago. Total BTC "in" is very much affected by BTC/USD.
Edit: here is the proof https://bitcointalksearch.org/topic/m.1834765
I agree with MPOE-PR here, no one new has any business running a fund. Start smaller, show more proof.
New people have no business starting "funds". Not now, not ever.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
With all due respect, this sounds like a rant and is nonsense.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
When people don't have the same attitude as this, we had Pirate and NYAN.
Please check your priv msgs
New people have no business starting "funds". Not now, not ever.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
With all due respect, this sounds like a rant and is nonsense.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
When people don't have the same attitude as this, we had Pirate and NYAN.
New people have no business starting "funds". Not now, not ever.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
With all due respect, this sounds like a rant and is nonsense.
If everyone had the same attitude as this, Bitcoin would never have risen to the place it is now. Simply labeling everything as "won't go anywhere, won't work, waste of time" is a pretty terrible position to have for an innovative, emerging technology.
New people have no business starting "funds". Not now, not ever.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
This is a high trust, high competence field. Only people who have been involved in Bitcoin for a long time and with credible results may do this. Anyone else trying to do this 1. won't get anywhere; 2. is a scammer anyway. Whether they plan to or not they're a scammer, it makes no difference. They'll just have a more or less planned out scam, but it will be a scam.
And before you start with the "I've been involved since 2005" Tortilla stuff: no, you haven't. You're not involved now. To be involved you have to actually do something. People using the word "Bitcoin" in conversation aren't involved in Bitcoin, they're involved in conversing.
get a wot would be a good start
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Satoshi is not on my buy list. The problem with them is that when bitcoins appreciate in value, the bet turnover drops lower. This is because people are in the mindset of USD when part-taking in gambling activities. This means that Satoshi revenue growth will continue to be stunted and hamstrung by a rising bitcoin value. This is the opposite of a company like say, ASICMINER, which see high revenue growth on the back of higher bitcoin values.
Also, the entertainment value of their gambling systems are lacking.
And ASICMINER revenue depends much more on difficulty and sustained technological lead than bitcoin value - that correlation may be even negative. Because if bitcoin rises, more people restart mining on older hardware or botnets.
Did you actually fact-check this before making that post?
The turnover at s.dice was roughly 400-600BTC per day in Dec, Jan, Feb, than plummeted to 32 and 127 in March and April (during the enormous bubble). Look at the corrolations of BTC value during the "profitable" months and the last 2 months.
Not to mention the sheer logic - if BTC is worth $260, its very safe to say that a person gambling in BTC when it was $13 per BTC is not going to continue to bet the same volume of BTC.
Why would you raise the fund when you own $1.8m + 160k?
Why don't you convert some of your assets to btcs and invest all for yourself, you keep 100% of the profit this way. 100btc is a piece of cake for a guy that rich.
Why don't you convert some of your assets to btcs and invest all for yourself, you keep 100% of the profit this way. 100btc is a piece of cake for a guy that rich.
I have personal BTC assets, though admittedly not that much. Property isn't very liquid, and I'm relatively cash poor. I am starting this small, and if successful the sums will indeed become a lot larger.
Why would you raise the fund when you own $1.8m + 160k?
Why don't you convert some of your assets to btcs and invest all for yourself, you keep 100% of the profit this way. 100btc is a piece of cake for a guy that rich.
Why don't you convert some of your assets to btcs and invest all for yourself, you keep 100% of the profit this way. 100btc is a piece of cake for a guy that rich.
get a wot would be a good start
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Satoshi is not on my buy list. The problem with them is that when bitcoins appreciate in value, the bet turnover drops lower. This is because people are in the mindset of USD when part-taking in gambling activities. This means that Satoshi revenue growth will continue to be stunted and hamstrung by a rising bitcoin value. This is the opposite of a company like say, ASICMINER, which see high revenue growth on the back of higher bitcoin values.
Also, the entertainment value of their gambling systems are lacking.
Thanks, this shows nicely you haven't a clue and prefer impressions over data. Satoshidice dividends don't show any correlation to bitcoin value so far, despite btc went up over 5x since IPO.
And ASICMINER revenue depends much more on difficulty and sustained technological lead than bitcoin value - that correlation may be even negative. Because if bitcoin rises, more people restart mining on older hardware or botnets.
get a wot would be a good start
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Satoshi is not on my buy list. The problem with them is that when bitcoins appreciate in value, the bet turnover drops lower. This is because people are in the mindset of USD when part-taking in gambling activities. This means that Satoshi revenue growth will continue to be stunted and hamstrung by a rising bitcoin value. This is the opposite of a company like say, ASICMINER, which see high revenue growth on the back of higher bitcoin values.
Also, the entertainment value of their gambling systems are lacking.
And ASICMINER revenue depends much more on difficulty and sustained technological lead than bitcoin value - that correlation may be even negative. Because if bitcoin rises, more people restart mining on older hardware or botnets.
Sounds interesting. I have a few questions:
1. You say the fund is a "balanced risk fund" and "will stick to moderate risk asset shares". I'm curious, how do you evaluate risk? I mean, what do you consider moderate as opposed to low or high?
2. You say you have "extensive experience in share-trading and investment products". Could you elaborate on that a bit - how long have you been trading/investing, how much money was involved, did you handle others people money, how successful your investments were, etc.
1. You say the fund is a "balanced risk fund" and "will stick to moderate risk asset shares". I'm curious, how do you evaluate risk? I mean, what do you consider moderate as opposed to low or high?
2. You say you have "extensive experience in share-trading and investment products". Could you elaborate on that a bit - how long have you been trading/investing, how much money was involved, did you handle others people money, how successful your investments were, etc.
Thank you for your questions.
1) Firstly, keep in mind that the term "risk" with bitcoins is relative. Bitcoins are inherently very risky, so when I class things in bitcoin investments as "low-risk", they are generally still very risky by market standards. They are simply less risky than other BTC market segments.
There are several ways that I class risk in a bitcoin market. A good way to think about it is that risk and "aggressive" actions go hand-in-hand. On a high-risk bitcoin fund, you might see more bold moves made, such as sticking in a lot of funds in to a share that we believe is about to take off, or making less-diverse investments and focusing on high-risk-high-return emerging companies that may not be proven yet.
More specific examples is that in a non-high risk fund (which this initial offering is), there will be no investment plays at the forex game (bitcoin vs USD bets). Where as in a high-risk fund, there could be. There may even be a fund in the future that solely plays the forex game and nothing else, but that would be amongst the most gambler-esk funds available.
A low risk fund will focus on safer bets, diversified investments, focus on older companies that have proven dividends, and dividend stability/yield. Dividends being a critical component of risk assessment. I contemplated starting with low-risk funds only, as bitcoins are risky enough and the market may not be mature enough for riskier, higher potential profit investments (and I'd rather people got safer returns to start with than trying for crazy-high returns that could easily go the other way. It's never nice to blow the fund on a high-risk move so early in the life of it)
2) I have been trading shares for 10 years, have traded forex, bonds, ETF's, waist-deep in to the property market and I am a part of an angel investor group here in Australia. My real estate portfolio is valued at around 1.8m, my shares $160k, and several other investments. I also run an IT business. I don't work for an investment bank or manage investments commercially.
I am also interested, but I also want to see the answer to mandelbert's question above.
Sounds interesting. I have a few questions:
1. You say the fund is a "balanced risk fund" and "will stick to moderate risk asset shares". I'm curious, how do you evaluate risk? I mean, what do you consider moderate as opposed to low or high?
2. You say you have "extensive experience in share-trading and investment products". Could you elaborate on that a bit - how long have you been trading/investing, how much money was involved, did you handle others people money, how successful your investments were, etc.
1. You say the fund is a "balanced risk fund" and "will stick to moderate risk asset shares". I'm curious, how do you evaluate risk? I mean, what do you consider moderate as opposed to low or high?
2. You say you have "extensive experience in share-trading and investment products". Could you elaborate on that a bit - how long have you been trading/investing, how much money was involved, did you handle others people money, how successful your investments were, etc.
get a wot would be a good start
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Satoshi is not on my buy list. The problem with them is that when bitcoins appreciate in value, the bet turnover drops lower. This is because people are in the mindset of USD when part-taking in gambling activities. This means that Satoshi revenue growth will continue to be stunted and hamstrung by a rising bitcoin value. This is the opposite of a company like say, ASICMINER, which see high revenue growth on the back of higher bitcoin values.
Also, the entertainment value of their gambling systems are lacking.
get a wot would be a good start
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
Seriously no one here is going to trust a newbie with 9-10 posts, the btc scams abound.
But since you are claiming investment knowledge tell me what you think of Satoshi Dice stocks atm?
And why should I not just buy investments myself?
And how do any investors know you wont just run off with their BTC?
And how do any investors know you wont just run off with their BTC?
Hey Chet,
The first question I answered in the OP
Regarding running away, what is the usual methods people do here to prove they are trustworthy / this is not a scam? I would be happy to follow their lead
And why should I not just buy investments myself?
And how do any investors know you wont just run off with their BTC?
And how do any investors know you wont just run off with their BTC?
**UPDATE: Hi everyone,
I have elected to close this fund to the public for now. Instead, I will be the sole shareholder of the fund, and the results will be published publicly if you are interested in following this funds performance. The results statements can be found here: https://docs.google.com/spreadsheet/ccc?key=0AuQ3xQRnpXqEdG5yMHZCaVkydWM5V1pzZld6WmtZa2c&usp=sharing
Hey all,
I'd like to introduce my new private Investment Fund - BTC-EQTY (Formal name is BTC EQUITY). BTC EQUITY is an investment fund that invests in Bitcoin related companies/businesses such as ASICMINER. Other investment activities include buying and selling USD with BTC for a profit, although this is a minor activity.
For below reference/definition, I am the fund manager.
Why choose BTC EQUITY and not invest in companies yourself?
This is a question everyone should ask themselves. Many people prefer to have direct control over their own investments and make investment choices with what they feel are good choices. What I offer is that I think I can beat the average investor in terms of returns, due to my extensive experience in share-trading and investment products. The second thing BTC EQUITY can offer is buying power resulting in more profitable deals. When we have enough investors and BTC capital, we will attempt to buy up assets in bulk for lower prices, resulting in better margins for all of our members.
And lastly, a lot of people may not want to spend many hours doing market research, buying and selling, investigating new assets, keeping up with the latest news etc. We offer a managed service in which you can just sit back and have someone experienced manage the investment for you.
I will have a large investment with my own BTC in this fund, and all future funds. This intrinsically links the success of the fund to my own.
How does it work?
The investment fund is very simple. There will be an initial offering of BTC100. This fund will be called "BTC-EQTY-A". Of this amount, I personally will be investing a large portion of this. Any one can buy as many, or as little "shares" of the fund (minimum 1 unit [1%]). For example, if you want to buy in to the fund with BTC10, you will own 10% of the fund. The fund will be fully subscribed when 100% of the BTC100 are bought out. As a fund member, you will own the % of the fund you purchased. All profits made will be added to the fund, so for example if things go well and 3 months down the track the fund is worth BTC200, your 10% will be worth BTC20 (less fees). (in which you paid BTC10 for, constituting a profit of 100% return on investment.)
How much transparency will you be giving?
There will be public monthly statements hosted on google drive, showing the asset balance sheet, the profit/loss and all other relevant information. There will be graphs, statistics etc also.
Can I "sell-out" at any time?
Yes, you can sell out to either another individual privately, or sell to the fund manager who will pay 95% of the NAV at the time of sale. Otherwise, the fund will eventually end (there will be an end-date period specified), and all holders will be paid out fully at that time. There are other circumstances that can result in the fund selling off early, or being extended. Likely via a majority vote.
Can I buy in to the fund after the initial offering?
The only way to buy in to the fund after the initial issuing is to buy a share from an existing holder of the fund. However, the value of the share will almost certainly be different by then.
Can I lose my money? How risky is this?
Each fund has a different risk level. The first and only fund (at this stage) is a balanced risk fund. This means that this fund will not take part in USD vs Bitcoin trades, and will stick to moderate risk asset shares.
Bitcoins are very risky investments, anything related to bitcoins are risky at this point. There is a very real risk of making significant losses by buying in to this fund, or any other fund, or any bitcoin asset. You have probably heard this warning everywhere surrounding bitcoins, but again - Do not invest funds that you can't afford to lose!
How do dividends work?
Dividends are issued at the discretion of the fund manager. However, in most cases, 100% of the net income that the fund generates will be paid as a dividend, less the management fee. There may be some instances where assets are sold off with the intention of providing a large dividend to shareholders, particularly if the NAV increases substantially.
What are the fees?
The fee is structured based on the performance of the fund. This is done to protect the fund members from paying a lot of fees if the fund is performing poorly. I feel this is the most honest and fair way of charging the fee.
Fee structure as follows:
One-off: There is a one-time fee of 5% at the time of purchasing in to the fund. So if you buy BTC10, the fee is BTC0.5 (meaning you will need to pay BTC10.5 to the fund issuer.
Performance based fee: A 5% fee from the net profit every month (at time of dividend distribution). Eg. If the fund net profit for the month is +10 BTC, a fee of 0.5BTC is deducted, and the remaining 9.5 BTC is distributed to all share holders.
Will you be listing your funds on issuers such as btct.co ?
Almost certainly at some stage. For now, this first fund will be privately managed.
How much money will I make?
As said above, all Bitcoin related investments are risky. You might lose most of your money, break even, or make 10x your money. I am merely providing you with my expertise and knowledge, to give you a better chance of getting a return on your bitcoin investment.
Is this fund legal?
As with all bitcoin funds/securities, these are all virtual, which to the best of our knowledge is perfectly legal.
Do I have any recourse if something goes wrong?
Every effort will be made to be as fair and transparent as possible. I cannot guarantee that nothing will go wrong, but I can guarantee that I will act responsibly and with integrity. If that is not enough, than his might not be for you.
Do the funds "end"?
The funds will run their course eventually. All fund members are allowed to sell-out at any point, so this may happen naturally. There will be an end-date period specified, and all holders will be paid out fully at that time. There are other circumstances that can result in the fund selling off early, or being extended. Likely via a majority vote. If majority votes to keep the fund active but you want to be paid out, there will be an option created for you to freely do that at that time.
Can I have a say in what is invested in?
I will be setting something up, probably a voting system, that will allow the fund members to steer the direction of the funds. For now, I will definitely listen and consider fund members thoughts and requests.
------------------------
I have elected to close this fund to the public for now. Instead, I will be the sole shareholder of the fund, and the results will be published publicly if you are interested in following this funds performance. The results statements can be found here: https://docs.google.com/spreadsheet/ccc?key=0AuQ3xQRnpXqEdG5yMHZCaVkydWM5V1pzZld6WmtZa2c&usp=sharing
Hey all,
I'd like to introduce my new private Investment Fund - BTC-EQTY (Formal name is BTC EQUITY). BTC EQUITY is an investment fund that invests in Bitcoin related companies/businesses such as ASICMINER. Other investment activities include buying and selling USD with BTC for a profit, although this is a minor activity.
For below reference/definition, I am the fund manager.
Why choose BTC EQUITY and not invest in companies yourself?
This is a question everyone should ask themselves. Many people prefer to have direct control over their own investments and make investment choices with what they feel are good choices. What I offer is that I think I can beat the average investor in terms of returns, due to my extensive experience in share-trading and investment products. The second thing BTC EQUITY can offer is buying power resulting in more profitable deals. When we have enough investors and BTC capital, we will attempt to buy up assets in bulk for lower prices, resulting in better margins for all of our members.
And lastly, a lot of people may not want to spend many hours doing market research, buying and selling, investigating new assets, keeping up with the latest news etc. We offer a managed service in which you can just sit back and have someone experienced manage the investment for you.
I will have a large investment with my own BTC in this fund, and all future funds. This intrinsically links the success of the fund to my own.
How does it work?
The investment fund is very simple. There will be an initial offering of BTC100. This fund will be called "BTC-EQTY-A". Of this amount, I personally will be investing a large portion of this. Any one can buy as many, or as little "shares" of the fund (minimum 1 unit [1%]). For example, if you want to buy in to the fund with BTC10, you will own 10% of the fund. The fund will be fully subscribed when 100% of the BTC100 are bought out. As a fund member, you will own the % of the fund you purchased. All profits made will be added to the fund, so for example if things go well and 3 months down the track the fund is worth BTC200, your 10% will be worth BTC20 (less fees). (in which you paid BTC10 for, constituting a profit of 100% return on investment.)
How much transparency will you be giving?
There will be public monthly statements hosted on google drive, showing the asset balance sheet, the profit/loss and all other relevant information. There will be graphs, statistics etc also.
Can I "sell-out" at any time?
Yes, you can sell out to either another individual privately, or sell to the fund manager who will pay 95% of the NAV at the time of sale. Otherwise, the fund will eventually end (there will be an end-date period specified), and all holders will be paid out fully at that time. There are other circumstances that can result in the fund selling off early, or being extended. Likely via a majority vote.
Can I buy in to the fund after the initial offering?
The only way to buy in to the fund after the initial issuing is to buy a share from an existing holder of the fund. However, the value of the share will almost certainly be different by then.
Can I lose my money? How risky is this?
Each fund has a different risk level. The first and only fund (at this stage) is a balanced risk fund. This means that this fund will not take part in USD vs Bitcoin trades, and will stick to moderate risk asset shares.
Bitcoins are very risky investments, anything related to bitcoins are risky at this point. There is a very real risk of making significant losses by buying in to this fund, or any other fund, or any bitcoin asset. You have probably heard this warning everywhere surrounding bitcoins, but again - Do not invest funds that you can't afford to lose!
How do dividends work?
Dividends are issued at the discretion of the fund manager. However, in most cases, 100% of the net income that the fund generates will be paid as a dividend, less the management fee. There may be some instances where assets are sold off with the intention of providing a large dividend to shareholders, particularly if the NAV increases substantially.
What are the fees?
The fee is structured based on the performance of the fund. This is done to protect the fund members from paying a lot of fees if the fund is performing poorly. I feel this is the most honest and fair way of charging the fee.
Fee structure as follows:
One-off: There is a one-time fee of 5% at the time of purchasing in to the fund. So if you buy BTC10, the fee is BTC0.5 (meaning you will need to pay BTC10.5 to the fund issuer.
Performance based fee: A 5% fee from the net profit every month (at time of dividend distribution). Eg. If the fund net profit for the month is +10 BTC, a fee of 0.5BTC is deducted, and the remaining 9.5 BTC is distributed to all share holders.
Will you be listing your funds on issuers such as btct.co ?
Almost certainly at some stage. For now, this first fund will be privately managed.
How much money will I make?
As said above, all Bitcoin related investments are risky. You might lose most of your money, break even, or make 10x your money. I am merely providing you with my expertise and knowledge, to give you a better chance of getting a return on your bitcoin investment.
Is this fund legal?
As with all bitcoin funds/securities, these are all virtual, which to the best of our knowledge is perfectly legal.
Do I have any recourse if something goes wrong?
Every effort will be made to be as fair and transparent as possible. I cannot guarantee that nothing will go wrong, but I can guarantee that I will act responsibly and with integrity. If that is not enough, than his might not be for you.
Do the funds "end"?
The funds will run their course eventually. All fund members are allowed to sell-out at any point, so this may happen naturally. There will be an end-date period specified, and all holders will be paid out fully at that time. There are other circumstances that can result in the fund selling off early, or being extended. Likely via a majority vote. If majority votes to keep the fund active but you want to be paid out, there will be an option created for you to freely do that at that time.
Can I have a say in what is invested in?
I will be setting something up, probably a voting system, that will allow the fund members to steer the direction of the funds. For now, I will definitely listen and consider fund members thoughts and requests.
------------------------
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