Topic: [CLOSING...] MOVETO.FUND - MoveTo Growth Fund - page 4. (Read 12831 times)
Good to know. At almost 20% growth since IPO I'd like to say that is an A-game if I ever saw one. Thanks!
https://bitcointalksearch.org/topic/glbse-features-release-schedule-102651 this stuff is going to help good traders 
Should help vastly improve liquidity and help make the move to cytokine's A-game.More liquidity would be great for us. However, as for the particular features, we probably wouldn't use most of them except for maybe occasionally margin and lending securities at high interest rates.
Generally speaking though I'm not a huge fan of leverage. There's enough risk out there as it is and we don't need to compound it.
Making the APIs better and faster would be a huge help though. It's taking much too long each day to update the data. I added a manual pre-filter list which has helped greatly since most of the GLBSE is crap anyway so no reason to bother with data for those assets.
We may do a small amount of shorting in the near future, but only in a very careful and controlled manner, and using a much smarter way of doing it than via the GLBSE's shorting feature... and also, I would only short as a hedging method, never as a purely profit making enterprise (unless some special circumstances arose of course).
btw, NAV per share updated to 1.19739576
https://bitcointalksearch.org/topic/glbse-features-release-schedule-102651 this stuff is going to help good traders
Should help vastly improve liquidity and help make the move to cytokine's A-game. 
https://bitcointalksearch.org/topic/glbse-features-release-schedule-102651 this stuff is going to help good traders
In the case that pirate is unable to payout, which is highly unlikely, I will be forced to sell all of my assets to fund the returns. This will require the liquidation of all of my mining hardware and will require a larger time frame.
I have no worries about Nick.
He'd have to have liquidated all of his assets and all of his mining hardware to cover deposits of three months ago? And you have no worries because he says its highly unlikely? Then I have more worries about you than him.
#1 I trust Nick's character, which I had cross-referenced by other very trustworthy forum members.
#2 Based on this, I believe Nick that if pirate does default, he will sell off his GLBSE assets and mining equipment to cover the debt (or perhaps we could even negotiate a deal, depending on the assets, to have them directly transferred).
#3 I also believe a pirate default is extremely unlikely, again, based on information about how pirate generates his returns.
Now, if I was depositing money with Dank or Rusty Ryan then you'd have a real reason to worry, but not here. We have deposited with Nick since the very start of the fund, so if you strongly feel this way then you should not have invested with us. We have to take some risk; I cannot generate returns by sitting on coins in cold storage.
I would definitely be concerned if you had anything invested with those. I am confident you can pick the correct investments or otherwise I wouldnt have invested with you tl:dr thats what we pay you the big bucks for
In the case that pirate is unable to payout, which is highly unlikely, I will be forced to sell all of my assets to fund the returns. This will require the liquidation of all of my mining hardware and will require a larger time frame.
I have no worries about Nick.
He'd have to have liquidated all of his assets and all of his mining hardware to cover deposits of three months ago? And you have no worries because he says its highly unlikely? Then I have more worries about you than him.
#1 I trust Nick's character, which I had cross-referenced by other very trustworthy forum members.
#2 Based on this, I believe Nick that if pirate does default, he will sell off his GLBSE assets and mining equipment to cover the debt (or perhaps we could even negotiate a deal, depending on the assets, to have them directly transferred).
#3 I also believe a pirate default is extremely unlikely, again, based on information about how pirate generates his returns.
Now, if I was depositing money with Dank or Rusty Ryan then you'd have a real reason to worry, but not here. We have deposited with Nick since the very start of the fund, so if you strongly feel this way then you should not have invested with us. We have to take some risk; I cannot generate returns by sitting on coins in cold storage.
In the case that pirate is unable to payout, which is highly unlikely, I will be forced to sell all of my assets to fund the returns. This will require the liquidation of all of my mining hardware and will require a larger time frame.
I have no worries about Nick.
He'd have to have liquidated all of his assets and all of his mining hardware to cover deposits of three months ago? And you have no worries because he says its highly unlikely? Then I have more worries about you than him.
For example NCKRAZZE, who assured me puts his deposits to work through his mining equipment and "keeps a strict separation between that and his pirate funds", is planning on returning funds shortly, which means that arbing pirate was almost certainly his primary money-making venture to support the 2.5%/week and he was using mining merely as a backup. However, he has stated that if pirate defaults, he will still pay back every satoshi of deposits,
No, he stated that if pirate defaults he can pay back 35%. Sounds like some great returns for your fund.
Hah I was still editing my post... in any event, no, he has told me that he will pay back in full even if pirate defaults, just that it might take longer for him to liquidate everything:
I will liquidate mining hardware and I will also withdraw coins from lenders/sell bonds if needed to fund all of the deposit returns. In fact, my main priority is to liquidate about 15% of the mining operation in order to fund the returns.
In the case that pirate is unable to payout, which is highly unlikely, I will be forced to sell all of my assets to fund the returns. This will require the liquidation of all of my mining hardware and will require a larger time frame.
I have no worries about Nick.
For example NCKRAZZE, who assured me puts his deposits to work through his mining equipment and "keeps a strict separation between that and his pirate funds", is planning on returning funds shortly, which means that arbing pirate was almost certainly his primary money-making venture to support the 2.5%/week and he was using mining merely as a backup. However, he has stated that if pirate defaults, he will still pay back every satoshi of deposits,
No, he stated that if pirate defaults he can pay back 35%. Sounds like some great returns for your fund.
lol guys don't get too excited, we're talking about less than 200 BTC right now, or about 2% of the fund... so yeah, not as exciting as it sounds, but we just don't have much liquid funds. In the past when a short-term opportunity arose I could usually borrow the funds to snag the opportunity in a bigger way, but none of the BTC banks are lending right now
. Of course, if there are still good pirate-panic-prices out there over the weekend when we earn our bigger coupons (NCKRAZZE+BDT), then we'll snag them.Also, it seems that a lot of banks and deposit takers are freezing or even closing operations during this transition period. For example NCKRAZZE, who has been a great rock for a good portion of the fund, is planning on returning funds shortly, and both the Starfish BCB and the BDK are forgoing deposits and halting new loan issuance until the dust has settled. It's going to be an interesting next few weeks...
I have purchased some passthroughs which are selling for huge discounts which should give us a nice quick profit of 30%+ on a very small amount of capital. Obviously, since this temporarily goes against our historical non-pirate stance, I am insuring these investments 100% with my own money, so it is at no risk to the fund: heads you win, tails I lose. But it's just far too easy and profitable a trading opportunity to pass up,
Excellent
I have purchased some passthroughs which are selling for huge discounts which should give us a nice quick profit of 30%+ on a very small amount of capital. Obviously, since this temporarily goes against our historical non-pirate stance, I am insuring these investments 100% with my own money, so it is at no risk to the fund: heads you win, tails I lose. But it's just far too easy and profitable a trading opportunity to pass up,
... due to insider information ...
I love unregulated markets
Bad wording on my part, it is not insider information, it is public information:
Yeah, I know you meant it in a good way
.But, I still have to be careful. I'm sure you understand.
... due to insider information ...
I love unregulated markets
Bad wording on my part, it is not insider information, it is public information:
... due to insider information ...
I love unregulated markets
Bad wording on my part, it is not insider information, it is public information:
I would like to provide some insight into what was going on as I mapped out the mechanics of what I thought was going on to Pirate last week. It had taken me a while to work out the money flows, and he confirmed that I had it pretty much straight. For the doubters, they would say he was simply lying and stringing me along, but that could be said of most people on the forum.
As for disclosing it, I do not consider it my place to do that. It was something confidential I discussed with someone, and it stays that way until Pirate wishes to make it public. There is nothing stopping me from duplicating it, and it's not illegal at all, but it would take a lot of time and effort. I am sure Pirate is happy to be winding it up and being able to get away from it for a while.
Also, not all PPTs are gone, I still have one, just with zero volume until I work out a reincarnation for it.
Anyway, as I wasted most of yesterday, I didn't re-do the OP - I'll do some work on that now.
As for disclosing it, I do not consider it my place to do that. It was something confidential I discussed with someone, and it stays that way until Pirate wishes to make it public. There is nothing stopping me from duplicating it, and it's not illegal at all, but it would take a lot of time and effort. I am sure Pirate is happy to be winding it up and being able to get away from it for a while.
Also, not all PPTs are gone, I still have one, just with zero volume until I work out a reincarnation for it.
Anyway, as I wasted most of yesterday, I didn't re-do the OP - I'll do some work on that now.
The MoveTo fund has never made any trades based on insider information. The fund is mostly automated and that is what drives our investment decisions; this short-term pirate trade is a one-off thing, and these types of trades are probably going to be very rare going forward.
... due to insider information ...
I love unregulated markets
The contract has been updated with some very minor changes. Most notably, I am removing the "will not be involved with pirate" clause since it's no longer necessary since pirate is unwinding his operations; additionally, due to recent public information, I have purchased some passthroughs which are selling for huge discounts which should give us a nice quick profit of 30%+ on a very small amount of capital. Obviously, since this temporarily goes against our historical non-pirate stance, I am insuring these investments 100% with my own money, so it is at no risk to the fund: heads you win, tails I lose. But it's just far too easy and profitable a trading opportunity to pass up, and has given us the ability to swap out of our (very few) losing investments such as PUREMINING without suffering further capital loss. We are not, of course, selling any of our winners for the sake of a short-term trade, and so the fund will continue to focus on its normal mission going forward. Note that this modification means that I will offer to buy back any shares at today's NAV per share of 1.18480856, and this offer will be open for one full month.
Here's the new contract:
(0) Each IPO share represents a 1 BTC investment in the fund.
(1) The fund trades and invests primarily in securities on the GLBSE, but may also invest in opportunities outside of the GLBSE.
(2) 80% of earnings are reinvested for fund growth, and 20% are paid out as fees to the fund operator. Fees are paid once a month on the first of the month.
TO CLARIFY:
The 20% fee only applies to the differential between the last high water mark and the new high water mark. This means that I only make money when my investors make money. For example: if we have a losing month, that
means I have to make that money back and then some before I can get paid. (This is also known as a performance fee.) There is no management fee.
(3) The fund operator will buy-back shares on the first of every month upon request to ensure liquidity for exiting MOVETO.FUND. Each share is valued at the NAV per share minus 1% to cover redemption expenses.
(4) New shares may be issued at any time at the NAV per share to ensure liquidity for entering MOVETO.FUND
(5) This contract may be amended in the future provided the operator alerts all investors and offers to buy back shares at the full NAV per share at the time the contract was modified. The buy-back offer must be open for one full month after any modification.
Here's the new contract:
(0) Each IPO share represents a 1 BTC investment in the fund.
(1) The fund trades and invests primarily in securities on the GLBSE, but may also invest in opportunities outside of the GLBSE.
(2) 80% of earnings are reinvested for fund growth, and 20% are paid out as fees to the fund operator. Fees are paid once a month on the first of the month.
TO CLARIFY:
The 20% fee only applies to the differential between the last high water mark and the new high water mark. This means that I only make money when my investors make money. For example: if we have a losing month, that
means I have to make that money back and then some before I can get paid. (This is also known as a performance fee.) There is no management fee.
(3) The fund operator will buy-back shares on the first of every month upon request to ensure liquidity for exiting MOVETO.FUND. Each share is valued at the NAV per share minus 1% to cover redemption expenses.
(4) New shares may be issued at any time at the NAV per share to ensure liquidity for entering MOVETO.FUND
(5) This contract may be amended in the future provided the operator alerts all investors and offers to buy back shares at the full NAV per share at the time the contract was modified. The buy-back offer must be open for one full month after any modification.
Starfish et al peaked around 58k. With the wind out of the PPT.assets it should be back closer to 35k quite soon. Depends on how the next week and month play out.
Anyway, the MoveTo Fund is an important part of the economy.
Anyway, the MoveTo Fund is an important part of the economy.
The Starfish seal of approval! Woooooot!
I backed my opinion with an investment a few weeks ago. Only a few hundred, but have placed money not just words on this.
Starfish et al peaked around 58k. With the wind out of the PPT.assets it should be back closer to 35k quite soon. Depends on how the next week and month play out.
Anyway, the MoveTo Fund is an important part of the economy.
Anyway, the MoveTo Fund is an important part of the economy.
The Starfish seal of approval! Woooooot!
Seriously though, this means a lot to me coming from you, with your impeccable reputation.
I really appreciate the transparency and professionalism you bring to the table in this frontier market cytokine. I agree with you on all points mentioned concerning IPO and strategy moving forward.
Thanks silver. Personally, I absolutely can't stand the non-professional issuers out there. They can cause a lot of pain and misery for people. I've been on the other end of that kind of crap so I know what it's like, and I never want my investors to have to feel that way. Communication with your investors is the key, really: they need to know exactly what's going on with their hard-earned money, good or bad.
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