Yes, please let me know when you have that new great idea ready
Topic: [CryptoStocks][Bitcoin Arbitrage Fund]Fund was closed, we bought back all shares (Read 18478 times)
November 23, 2013, 09:59:45 AM
Good god. These challenges weren't something that you guys considered before soliciting 160BTC?
Yes, please let me know when you have that new great idea ready
Yes, please let me know when you have that new great idea ready
November 23, 2013, 06:54:29 AM
Too bad it didn't work out, looked promising. My shares were bought back as promised.
Well done and all the best for the future.
Well done and all the best for the future.
November 23, 2013, 05:36:15 AM
I don't want to be that guy that says: I told you, but...
The only surprise here is that it took almost two weeks before you were proven correct.
November 23, 2013, 05:22:56 AM
I don't want to be that guy that says: I told you, but...
I think this is a good ideea, and i would invest in it, but the business plan is wrong.
"(4) The price goes down fast, we may lose some money. "
This is not how arbitrage it's done. This risk should not exist. You don't have to wait for the funds to transfer between accounts. You must have funds available on bouth, or more exchanges and the secound you sel on one exchange you buy on another and you make a profit. Regardless on the price change, this should not affect you. And you must use the money so you do the arbitrage each day, transfer every day, not wait for the rounds.
You should substitute with:
(4) The Bitcoin Arbitrage Fund disapears with all the investors money.
or better make it risk number 1, because if you don't know how arbitrage is done but you start a Fund... this is really the only risk for the investors.
"(4) The price goes down fast, we may lose some money. "
This is not how arbitrage it's done. This risk should not exist. You don't have to wait for the funds to transfer between accounts. You must have funds available on bouth, or more exchanges and the secound you sel on one exchange you buy on another and you make a profit. Regardless on the price change, this should not affect you. And you must use the money so you do the arbitrage each day, transfer every day, not wait for the rounds.
You should substitute with:
(4) The Bitcoin Arbitrage Fund disapears with all the investors money.
or better make it risk number 1, because if you don't know how arbitrage is done but you start a Fund... this is really the only risk for the investors.
November 23, 2013, 03:29:03 AM
BAF trade stopped, we bought back all shares at price 0.01 BTC.
Because the price of BTC going up too fast, we can't buy back the original amount, so we decided to close the fund earlier.
As a shareowner, the most important thing, they hope the OP may take good care of their assets and not to encounter any scram.
We are also shareowners, we lost 35 BTCs on several shares such as Labcoin, SAI, CPTM, so we know that feelings.
We are sorry we can't make more money for our shareowners, however, we will keep our promise to take care of shareowners' assets.
So, if you are shareowners of BAF, please notice this thread or BAF announcement on Cryptostocks during the following three days.
Though we lost some BTCs, it is OK, many people trust us and help us a lot.
We are in charge of a little private artraging fund, which is from RMB => USD => BTC => RMB, it is easy to operate.
And we are also planning another project, which is really a good idea, so we will be back a couple months later.
Thanks to all shareowners, thanks to everyone who trust us and help us.
BYE
Because the price of BTC going up too fast, we can't buy back the original amount, so we decided to close the fund earlier.
As a shareowner, the most important thing, they hope the OP may take good care of their assets and not to encounter any scram.
We are also shareowners, we lost 35 BTCs on several shares such as Labcoin, SAI, CPTM, so we know that feelings.
We are sorry we can't make more money for our shareowners, however, we will keep our promise to take care of shareowners' assets.
So, if you are shareowners of BAF, please notice this thread or BAF announcement on Cryptostocks during the following three days.
Though we lost some BTCs, it is OK, many people trust us and help us a lot.
We are in charge of a little private artraging fund, which is from RMB => USD => BTC => RMB, it is easy to operate.
And we are also planning another project, which is really a good idea, so we will be back a couple months later.
Thanks to all shareowners, thanks to everyone who trust us and help us.
BYE
Too bad this didn't end up panning out. +1 on the buyback as promised however. Gains a certain degree of trust in my book for following through with that at least.
November 23, 2013, 01:51:18 AM
BAF trade stopped, we bought back all shares at price 0.01 BTC.
Because the price of BTC going up too fast, we can't buy back the original amount, so we decided to close the fund earlier.
As a shareowner, the most important thing, they hope the OP may take good care of their assets and not to encounter any scram.
We are also shareowners, we lost 35 BTCs on several shares such as Labcoin, SAI, CPTM, so we know that feelings.
We are sorry we can't make more money for our shareowners, however, we will keep our promise to take care of shareowners' assets.
So, if you are shareowners of BAF, please notice this thread or BAF announcement on Cryptostocks during the following three days.
Though we lost some BTCs, it is OK, many people trust us and help us a lot.
We are in charge of a little private artraging fund, which is from RMB => USD => BTC => RMB, it is easy to operate.
And we are also planning another project, which is really a good idea, so we will be back a couple months later.
Thanks to all shareowners, thanks to everyone who trust us and help us.
BYE
Because the price of BTC going up too fast, we can't buy back the original amount, so we decided to close the fund earlier.
As a shareowner, the most important thing, they hope the OP may take good care of their assets and not to encounter any scram.
We are also shareowners, we lost 35 BTCs on several shares such as Labcoin, SAI, CPTM, so we know that feelings.
We are sorry we can't make more money for our shareowners, however, we will keep our promise to take care of shareowners' assets.
So, if you are shareowners of BAF, please notice this thread or BAF announcement on Cryptostocks during the following three days.
Though we lost some BTCs, it is OK, many people trust us and help us a lot.
We are in charge of a little private artraging fund, which is from RMB => USD => BTC => RMB, it is easy to operate.
And we are also planning another project, which is really a good idea, so we will be back a couple months later.
Thanks to all shareowners, thanks to everyone who trust us and help us.
BYE
November 23, 2013, 12:10:16 AM
Its arbitrage if you do two separate trades simultaneously like buying a car from one guy and immediately selling it to another one. If you want to do arbitrage with currencies, you will need funds in both currencies to do simultaneous trades. What you did was risky and failed.
We thought of buying and selling BTC at once, but there is still one step to transfer a half fund in USD to exchange with low price.
If the price go up during the transferring time, we will encounter the same problem as what we met now.
BTC => RMB => USD => BTC, the last step is the most dangeous.
RMB => USD => BTC => RMB, this is which we did before, it is easy to operate because the two steps USD => BTC => RMB can be finished during one or two hours.
November 23, 2013, 12:05:33 AM
If you guys are doing arbitrage, please keep two things in mind.
1. Like Mageant said, either have a setup for simultaneous trading, ie spare capital
2. Or your fund should be in FIAT and dividends paid out in BTC, based on dividend date BTC value, otherwise the fluctuation in prices will kill ya.
cheers
1. Like Mageant said, either have a setup for simultaneous trading, ie spare capital
2. Or your fund should be in FIAT and dividends paid out in BTC, based on dividend date BTC value, otherwise the fluctuation in prices will kill ya.
cheers
Yeah, you are right, now we encounter a big problem.
We can't buy back the amount we sold.
If there is no chance to buy back, the fund will be closed.
November 22, 2013, 07:38:22 AM
Its arbitrage if you do two separate trades simultaneously like buying a car from one guy and immediately selling it to another one. If you want to do arbitrage with currencies, you will need funds in both currencies to do simultaneous trades. What you did was risky and failed.
One round of arbitrage and they've already failed? How so?
November 22, 2013, 04:13:05 AM
Its arbitrage if you do two separate trades simultaneously like buying a car from one guy and immediately selling it to another one. If you want to do arbitrage with currencies, you will need funds in both currencies to do simultaneous trades. What you did was risky and failed.
November 22, 2013, 01:18:43 AM
If you guys are doing arbitrage, please keep two things in mind.
1. Like Mageant said, either have a setup for simultaneous trading, ie spare capital
2. Or your fund should be in FIAT and dividends paid out in BTC, based on dividend date BTC value, otherwise the fluctuation in prices will kill ya.
cheers
1. Like Mageant said, either have a setup for simultaneous trading, ie spare capital
2. Or your fund should be in FIAT and dividends paid out in BTC, based on dividend date BTC value, otherwise the fluctuation in prices will kill ya.
cheers
November 21, 2013, 10:47:45 AM
If there is any other info available Id also be interested.
November 21, 2013, 08:44:08 AM
Could be interested in this as well but I would like to see some examples of trading.
November 19, 2013, 08:36:12 AM
Got a few shares + keeping an eye on this thread.
Thank you.
November 19, 2013, 07:28:52 AM
Got a few shares + keeping an eye on this thread.
November 19, 2013, 07:08:43 AM
IMHO it would be better if you sold and bought the Bitcoins on the two exchanges simulatenously.
That means you wait until the funds arrive at Bitstamp, and then you buy on Bitstamp and simultaneously sell on okcoin.
Then you have absolutely no risk of price fluctuation.
That means you wait until the funds arrive at Bitstamp, and then you buy on Bitstamp and simultaneously sell on okcoin.
Then you have absolutely no risk of price fluctuation.
Yes, you are right, we considered that before.
We thought we sold btc at a very high price yesterday, but we are wrong. There are too much crazy and rich people in China.
Next time we will do the arbitraging in this way.
We apologize to shareowners. If this arbitraging process loses some BTCs, we will pay for the loss.
November 19, 2013, 06:43:33 AM
IMHO it would be better if you sold and bought the Bitcoins on the two exchanges simultaneously.
That means you wait until the funds arrive at Bitstamp, and then you buy on Bitstamp and simultaneously sell on okcoin.
Then you have absolutely no risk of price fluctuation.
That means you wait until the funds arrive at Bitstamp, and then you buy on Bitstamp and simultaneously sell on okcoin.
Then you have absolutely no risk of price fluctuation.
November 18, 2013, 12:14:14 AM
hi Eric.DarkSpirit
you should be publishing the exact trade itinerary in close to real time
e.g.: 12/12/2013 10:00:11GMT bought 220BTC@500USD btc-e
12/12/2013 10:12:00GMT sold 220BTC@3350CNY chinabtc
you should be publishing the exact trade itinerary in close to real time
e.g.: 12/12/2013 10:00:11GMT bought 220BTC@500USD btc-e
12/12/2013 10:12:00GMT sold 220BTC@3350CNY chinabtc
Yeah, we will.
We hold our btc on OKCOIN.com now.
We will sell all btc out within 12 hours, then we will update the arbitraging progess information.
November 17, 2013, 08:03:04 PM
hi Eric.DarkSpirit
you should be publishing the exact trade itinerary in close to real time
e.g.: 12/12/2013 10:00:11GMT bought 220BTC@500USD btc-e
12/12/2013 10:12:00GMT sold 220BTC@3350CNY chinabtc
you should be publishing the exact trade itinerary in close to real time
e.g.: 12/12/2013 10:00:11GMT bought 220BTC@500USD btc-e
12/12/2013 10:12:00GMT sold 220BTC@3350CNY chinabtc
November 17, 2013, 06:15:17 AM
Bare in mind that btc-e need ID check for wire transfers and might hold you cash until you provide them one.. also I am waiting on at least cryptostock verification imho thats what holding some of investors down..
Yes, you are right.
We are also waiting for the verification of cryptostock.
Bitcoin Forum time: November 17, 2013, 01:05:06 PM
We got Advanced verification from Cryptostocks just now.
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