Topic: [Investment fund] Gamma Bitcoin Fund [Closed] - page 41. (Read 84476 times)

I think you're doing a great job Deadterra.

We're in a time where mining bonds aren't profitable, because of price increase and others factors. To me it's more a hedge against drop of bitcoin prices (hence the problem right now).

Looking forward to the new spreadsheet you will set up

Hello,

I am back from my day off. Unfortunately I came home yesterday and the market for mining bonds had crashed additionally, The precautions I had setup had absorbed some of the losses but we still took a heavy hit. At this moment GLBSE is very unstable and has a low liquidity making it hard to sell off without taking major losses. As this is having a huge impact on our profit, I have decided to put a plan in motion, to ensure our profits remain at a good level for the long term of the fund.
I am going to reboot our portfolio, Two weeks from now the purge of our old portfolio will start. I am going to setup a spreadsheet within a couple of days, and re analyze every single Asset on GLBSE, using measurements like P/E to decide which assets are a good investment and which are not. I am also going to rate the assets on how risky they are depending on a number of factors. Basically this spreadsheet will contain all the information that I need to make good investment choices. Depending on how in depth this spreadsheet will be it will be updated on weekly or monthly, this will be our new edge against other investors, through information we shall prosper.

As I now have finished my research project, this project and the fund will have my full attention and time.Once the spreadsheet has been finished, action will be taken to ensure our continued profit. All assets that are shown to be a bad investment will be sold off, due to this I am announcing a lose warning from the 6th of July and onwards until our portfolio has been updated. There will be short term (1-3 weeks) loses, but this will enable us to profit in mid (1-3 months) and long term (3+ months). Hence if you are not willing to take some short term losses for a mid/long term profit, then I advise you to withdraw your deposit, withdrawals will be open until the 6th of July. That brings me to my next point.

From the 6th of July Gamma Bitcoin Fund will no longer accept any more deposit, for a unknown time. This is due to that we will be going through a number of upgrades and improvements. We will be getting a new website, we will be updating infrastructure and spreadsheets to enable a more open and transparent fund. We will also be upgrading our security, making us more hack proof as well as protecting us from data losses etc. This will be done with some help from some security experts that have offered their help to secure to GBFs capital. I can't give out much details, but we will be moving to a safer OS as well as getting two-factor authentication (for GLBSE,MTgox etc). I will also be working on ensuring the profit of the fund, by developing and improving/optimizing current and new trading strategies/tactics. I will also be looking into incorporating GBF, to ensure that the legal aspect of the fund is also improved.

Only when all these aspects have been fixed/improved to the point where I feel comfortable opening up for more deposits, will the fund start accepting deposits again. We will setup a queue system in which the time a deposit was booked will determine, in which place in the queue the person is placed. Hence the earlier someone placed a deposit the earlier it will get to deposit the fund. I want to keep capital in the Funds stable during the time of upgrading, so if someone withdraws say 100 BTC then 100 BTC deposit slot will open up.

The Future of Gamma Bitcoin Fund looks bright, but it will require hard work, time, energy and probably a short term sacrifice for the long term health of the fund.

As a starting of the improvement of Gamma Bitcoin Fund, I am going to withdraw about 200 BTC, to purchase new hardware for my working computer as well as a smartphone to enable two-factor authentication. This is something I have been thinking about doing for a long time and does not have to do with the previous losses of GBF.


As always, if you have any question or concerns please do ask
//DeaDTerra

Ps: There is no deposit limit until the 6th, so if you want to take this chance and deposit please do.

Tomorrows log book update might be slightly delays as it's Midsummer in Sweden (holiday) hence I will be off for the day, it should be maximum 12 hours delayed. Sorry for this.
//DeaDTerra

Two small things xD
First of all someone has sent 10 BTC to one of my non private deposit addresses, and I can't remember where they are from xD
so if anyone has sent this transaction
http://blockchain.info/address/13WdYDaLfg2Aqnmj1Ej8ygPU5aHrRXMsGt
Please contact me so I can correctly credit your account.

I have helped a new company get off the ground with their IPO, they are offering leverage/margin trading for commodites like gold,BTC,oil etc.
Have a look at the IPO Info at:
https://bitcointalksearch.org/topic/glbse-bitdaytrade-a-fixed-interest-bond-of-3-per-week-88902

//DeaDTerra

Also happy to hear that! Can't wait for the announcement!

Thanks for the opportunity DeaDTerra!!

I am very happy that so many investors took the choice to voice their opinions
As stated from the beginning, you have no voting right but that doesn't mean I won't listen to the investors
A announcement of the future of GBF will be announced in a couple of days , I might speed on a couple of planned things for the best of the fund
//DeaDTerra

Glad to hear that. PM sent.

The GLBSE asset would be counted as a normal investor so it would be no difference for the current investors.
But after the feedback from the current investors, I have decide to not list on GLBSE for now
//DeaDTerra

if you start on gbse how will you handle the stock with your current investors?

Hello, first of all nice meeting you and I am glad to hear you are considering investing in GBF , I see your point and I realize that listing on GLBSE might cause some problem and take more time then just continue with what I currently am doing. The reason why I wanted to list on GLBSE is because it has been requested by a couple of potential investors and it's also a way for people that want more liqudity to invest in GBF, as you funds are not locked in GBF until the weekend. This enables more people to take part of GBF and makes it easier for people that are active on GLBSE and possible don't want to create their own account to invest with GBF. But I get you point and I will take it into consideration.

I have to state as I always have, There is ALWAYS a risk, independent on how deep analysis I make and how much information I gather there's always a risk. I am always working actively to minimize this risk through analysis of the market and each share/offer. Indeed, I have been trying to keep a good and detailed log book, and post about any major update, I need feedback from you guys, what do you want to see? AnythingI can improve or make better in the spreadsheets?
They are for you guys, I already know what's going on and what I am investing in , so please if you have any feedback I would be more then happy to take it to heart and improving my system.

The event would as said before not caught me as much off guard, if I would be acting under normal circumstances, it was unfortunate that the events happened during a week in which I didn't have much time7energy for the fund, hence as stated my reactions were slower then normal. Not much to say, more then that I will try to avoid it in the future, but yea I need to be allowed to have a life as well

There is actually a IRC channel already setup at #GBF anyone that want to join please do, I will always be in that channel as long as I am not sleeping etc, if you want to ask me anything, or just chat in general then join

//DeaDTerra

You're around on IRC enough anyway DeaDTerra that having an IRC channel just for GBF wouldn't be any effort.

I agree 100% with both rockyleal and icebreaker: Focus on maximizing our returns should be priority #1.
Everything else could only divert time and effort that are too valuable to be wasted, I am specially thinking about dealing with GLBSE issues.

I would like to add I agree with all of these. Not sure I like the idea of GLBSE, least of all because it makes it more difficult to compound interest.

Agree 100%

Being a GBF investor myself, I would add: Minimise the risk! I don't care if we miss the mega-buck raise when (if) the market recovers. We should (i think) be 0% based in gut feeling, only good information.

A positive comment I wanted to make also is that communication keeps trust up regardless of the bad week. Detailed updates and the logbook are very important. Keep that up. Moreover, perhaps if investors had an IRC channel or forum there would be more info, more discussion, more trust, better (maybe) ideas, and an emergency mechanism to prevent what happened last week (rapid events catching us unaware).

By the way, this is the way the market should be expected to behave consistently: seemingly unconnected events triggering rapid and substantial rises and falls, among relatively long periods of relative calm. For this reason, there can't be long periods where the market goes unobserved, or we will all suffer again.

TL;DR:

1- I Vote 'no' to GBF in GLBSE. Lets focus and we'll do better
2- Keep communication strong
3- Consider opening #GBF on IRC or a GBF investors thread (or something along those lines)
4- Minimise the risk now (my opinion), let's not gamble on the 'recovery'
5- Focus
6- Thanks

Hi DT!  I haven't invested with you yet, but will real soon now.

My preference (at this time) is that you don't list GBF on GLBSE.  I only see disadvantages to doing that.

Your time and energy are limited and valuable.  Best conserve them for GBF and your research projects. 

Dealing with a GBF GLBSE vehicle creates too many (both unavoidable and potential) administrative and legal issues. 

I'd prefer you concentrate exclusively on maximizing our returns.  Don't go too big, small is beautiful, keep it simple, etc. 

Unless there's a very good reason, why not avoid the headaches of dealing with PITA GLBSE compliance and the additional institutional risk exposure?

I guess liquidity would improve, but that's not nearly as important to me as keeping returns positive and optimizing the fund's internal structure.

Are you considering the listing to avoid dealing with account management?  I see how that makes sense, but you could automate much of it without an IPO.

For example, instead of manually adding new investments/funds piecemeal, I'd like to just set the auto-payout on my pool to point at my GBF account (because time is money).

The reason why I don't do a full pass through is due to what happens if the fund goes negative, I can't remove the loses from the balance of the account as the value of the bond is stated in the contract, so I have decide to use a buffer system instead to protect against any loses. The reason why I have the buy back at 0.1 is because that's what the bond is worth, the profit is paid out each week hence the contract is only worth the initial balance of 0.1 BTC per share. Any price increase further then that is just the market anticipating a good profit.
Yes the plan is to manage the account as a single investor in GBF
//DeaDTerra

I was planning on creating a asset on GLBSE for GBF, this is a rough draft of the contract

Each bond gives the owner the right to 70% of the profit made for a 0.1 BTC balance in GBF (Gamma Bitcoin Fund). 7.5% of the profit not paid out will be taken as a admin fee and the 22.5% will be kept in a reserve deposit to ensure the value of each bond, in case of loses. Whenever the reserve buffer contains 0.02 BTC per share a full 92.5% of the profit will be paid out.In case of a situation where the loses reaches more than 0.04 BTC per share, then 0% of the profit will be paid out and 92.5% will be used as an emergency buffer until the balance is back to 0.1BTC per share. The profit will be paid out on a weekly basis anytime from Friday-Sunday. If the dividend would not be paid for some reason then a double dividend will be paid the week after.The Issuer has the right to terminate the asset in the event of insolvency by liquidating any company savings to pay out a final dividend. The Issuer has the right to buy back, at any time, all shares issued for 0.1 BTC per Bond, at the time of the buy back the total amount of the reserve buffer will be paid out as a final dividend. The issuer has the right to at any time issue more bonds.

For more info about GBF and the most recent news go to: https://bitcointalksearch.org/topic/investment-fund-gamma-bitcoin-fund-closed-74975

What's your opinion on it? do you have any feedback or criticism?
Thanks
//DeaDTerra

Not the best week, but I'm sure we'll come out on top with GBF anyway, so I'm not that worried :)
Damn that ASIC panic :p why do people have to be so irrational, we're months away from first boards hitting the market. They haven't even provided a rough estimate on the date in the announcement.

Indeed, I doubt that BFL will have the ASIC hardware out to the public anytime soon. Indeed unfortunatly the fund is denominated in BTC xD, We made a 10% profit in USD if we count the fund value in USD. So I guess for the people that count their profit in USD they are not to unhappy.
//DeaDTerra

I too have had a bit of a loss on the mining bonds in my personal holdings, but I don't see BFL bringing ASIC to the market any time soon. Last time it took very long for them to deliver their promises, and even now people are still waiting for their singles. We'll see if the mining bonds will pay off their purchase price… meanwhile, I made much more profit on the Bitcoin price rising, so I'm happy anyway