I had a questions on this.
How can you operate as a hedge fund and stil accept clients from the general public such as none qualified investers?
What are your experience to manage a hedge fund, what is the security future of holding clients money, do you have a custodian, and if so is it an internal auditor or external such as a TPA? How can you claim such high returns with certainty?
Also, seems like you advise people on what to do with their BTC, if you move into a Adviser role do you not have to be covered under FiNRA?
I am not saying this is a scam I am simply inquiring. I have been an Adviser for years, and I study for my designations. BitCoin wildy fascinates me but I feel like I do not understand the financial protection of the Currancy or the companies that run them.
I will not lie, I would love to run my own Practice with BitCoin as the main topic since I think there is some huge potential upsides, just would not dare touching other peoples money without understanding everything inside and out, would hope clients would feel the same with any firm.
He is based in Spain, not the US. Legally he cannot take US investors, however unlicensed nano sized funds are not that uncommon and the chance of SEC intervention is pretty slim. As far as this being a scam, Makalu has always been very transparent, and the fund contains valid revenue streams, the main revenue comes from Bitcoin ATM's Makalu has set up in Spain, CoinDesk did an article on one of them recently I believe. I've personally recovered my initial investment in dividends alone over the past ~18 months or so (initial investment of LTC, USD wise the fund didn't perform as well).
The exchange the fund is traded on (Litecoininvest) however should be avoided. I have not been able to withdraw my funds for two weeks now, no replies from Admin. From what I understand is that the admins abandoned the project and now the site is running on autopilot.
Do you think it doesn't matter as long as you get your money back? That logic also applies to ponzi schemes.
The issue at hand is not where this so-called hedge fund is domiciled. Spain? Gibraltar? Ireland? The Cayman Islands? The Channel Islands? The City of London? Doesn't matter. Nor is the issue transparency or revenue streams or Bitcoin ATM's or dividends or even that you recovered your principal. The germane issue is that whatever this thing is, it is not a hedge fund, an entity with a very specific definition globally. The SEC? That's irrelevant in this case. "Unlicensed nano sized" fund? The operative word is
unlicensed, which thus proves it is closer to a beggar on the street than an actual hedge fund. Any investor ought to be extremely skeptical of an entity calling itself something that it is not, especially when it implies so much. Would a sole proprietorship selling trinkets at a shopping mall kiosk call his business a hedge fund? Of course not, because it isn't a hedge fund. Why doesn't Makalu simply call this thing he does a Bitcoin ATM company of some kind and do away with the hedge fund charade? This desperate attempt at legitimacy isn't necessary if the business itself is legitimate. Why the pretense?