Right, if you are provided with 160BTC, successfully arbitrage, and then pay out dividends, then they will know that you can at least do what you say that you will.
Providing ID to cryptostocks is great, but it's not enough - it would be good to know who we're dealing with here before your entrusted with that much currency. I think you'll find people reluctant to invest with no credentials from you.
So many questions. How many 'round' have you previously done? How much money have you made so far? Do you still expect to make ~15% per round with the fees taken into account? What will you do if one of the exchanges closes, or one become more expensive than another? How will you close the fund, if necessary? What factors could lead to a fund closure?
There are SO many questions you haven't answered here. Look at the prospectus at any of these other securities that were listed on BTC-TC, especially, or BF - their are quite a few pages long, not a handful of paragraphs with no credentials.
We really appreciate your attentioin and your questions.
This is one of our accounts on btc-e.com, some information was deleted, you can judge whether it is true or not. And the amount of BTC will help us to withdraw BTC easier.
This is one of our wallets.
Maybe you will ask why we don't take all of our assets to arbitrage. Actually, we are long-time BTC holders so that we can benefit from long-term BTC booming. 160 BTC is not so much for us, but we are willing to do such things to get investor's acknowledge.
As you said, maybe we have not remarkable scores to show, but everyone should have a chance to start. Otherwise all of us will never make an success IPO except those who made one before.
We took about 50 BTC to arbitrage each round, and made 15 BTC on our 3 rounds arbitraging activities. Average 10% profit, It is not a remarkable scores but we think it is nice to us.
So we didn't said we must acquire 15% profit rate every round, but we want to get more profit for shareholders and ourself.
If the one of the exchanges closes, we still have choices, there are several exchanges in China, there are serveral exchanges in the rest of the world.
If one exchange become more expensive than another, we will change the arbitrage path, it is still ok. For example, the bitcoin pirce of bitstamp.net is higher than btcchina.com, so the arbitrage path will be:
Deposit RMB to btcchina.com => Buy BTC => Transfer BTC to bitstamp.net => Sell BTC => Withdraw USD to Hong Kong => Exchange to RMB => Deposit RMB to btcchina.com
As for fund closure, we mentioned in our document, there is when and how:
If the difference disappears, then management will close this fund giving 30 days notice. All assets in the fund including each share's value will be liquidated on the respective markets and paid to shareholders. Unpaid dividends will be paid to shareholders at the same time after 15% management fees.
Comparing with other prospectus, the subject of this fund is very easy to understand, and it can do nothing but arbitrage. So we think we should not make simple things more complicated.
Thank you for your questions and advice, which are really helpful to us.
We hope you can help us to make BAF better in the future.
I never posted in threads like this, but, considering how many people actually bought Labcoin, it might be helpful. So:
OP wants your money. If you're happy with giving him your money to trade 20% of it, and you're happy with paying 15% management fee if the gamble pays off, by all means go ahead.
Please keep in mind that OP's soundest exit strategy is saying "Okthxbai," or
(and this is more graceful) remaining incommunicado for a few days, thus inducing panic, letting the share prices tank & buying them up for nothing (rinse & repeat as needed).
Or any of the 101 proven methods of taking away your coin.
I apologize to the 99.9% of the folks reading this. Yeah, i know you know. The intended audience, both for my post & this entire thread, is the remaining clueless .1%.
*To folks asking for dox on bitfunder: You're planning to mount international legal proceedings, rly? Over a few BTC you've invested?
Thank you for your frank words.
This is the prove that we also bought Labcoin shares, we bought at the highest price 0.0037, and we hold them till now.
We really hate such a scam and we are not willing to become them.
Anyway, saying is nothing, action is everything.
Most of all, if you really read the shares part in our document, you will know one important issue, that is, We issued 16,000 shares, that is all for investors.
WE NEVER TAKE 20% MONEY FROM INVESTORS, WE INVEST 40 BTC TO THIS FUND BY OURSELVES AND ACQUIRE DIVIDENDS ALONG WITH OTHER SHAREOWNERS, THAT IS THE SOURCE OF 20%.So we can't benefit from shares, the only way to make money is arbitaging.
CryptoStocks lists blatant scams. Why even do business there?
We really didn't heard that before, thank you for your information.
We will check and consider it.
