Topic: Kraken Fund - page 2. (Read 17607 times)

he already gave his permission for the passthrough so he cant wihdraw it now.

Are you condoning pass throughs for Kraken then? I find that quite surprising considering the nature of the fund and the wind-down of Starfish.

I wasnt asking you.

If your pass through shares were on GLBSE then you have bigger fish to fry now.

All that is fully disclosed to participants in the fund. If you're not it is really none of your business.

Good day.

Im have some kraken passthrough shares. Im just trying to ascertain the risk profile and how much toxic debt is loaded into the fund.

This sits in "Securities" rather than my usual lending section thread because it is a little more aggressive in approach and not as reliable.

Based on some work I have been doing I believe there is space for this particular fund and because it is a little different labelling it Kraken seems appropriate.

Basic parameters:

• Fund commences 19 August 2012.  
• Investments may be made in multiples of 100BTC.
• Withdrawals may be made in multiples of 100BTC.
• Contributed capital is backed by my personal funds.
• Returns will be paid weekly (currently planning on Fridays) - no compounding or automatic reinvestment.
• Target and maximum return 2.5% per week. (for the ponzi people, that would be 361% annually, but it's only 130% because it is non compounding.)
• Minimum weekly return 0% - any losses will be funded personally.

You will need to request a unique deposit address and supply a unique return address.  I will have a sensible limit on the number of investors because I don't want to spend my whole life doing weekly payments.
Returns obtained over and above 2.5% are taken as my fee - that's how I can afford to support the minimum return and "insure" the capital.  If I have coins sitting idle, they don't lose money, but impact on the average return.

Obviously the question is "What am I doing with the coins?"  
If I was to provide a simple answer like buying 50 BFL singles and going mining, or putting 10,000 coins into XYZ asset on GLBSE then there wouldn't be much science in that and it would ruin the market that I am looking at.
Also, I do expect people to assume funds might simply be going into BS&T and accuse me of feeding an illegal activity.  Due to the vitriol that goes with that, this will not be an open thread because there will be no point debating that.

So what am I going to use funds for?  Some will be going into my "vulture" capital business interests, some into some long-term BTC investments I have held in real-life ventures (such as an equipment manufacturer), some in BTC assets, a small amount of futures trading, some into various risk/reward adjusted investments that are available in the bitcoin world.

Edit: Currently 25 registered users.  18 currently paid.
Edit 19Aug: The largest commitment made was 1000 coins, and that was before the closure of one of the largest (and smartest) BTC operations.  In fairness, I consider a 1,000 maximum per account is appropriate making the absolute maximum size of Kraken Fund 25,000.

Kraken Fund#2 wait list (several):
HonsetBob, Rolo TonyBrown Town, BinaryMage, aghori, EskimoBob, Onichan, LoweryCBS, coinft, Mousepotato, Goelmer, CecilNiosaki, bruiser, Gigavps, "pm page 122", Electricbees, Macboy80, Brunic, Coin.Karma, Litecoin, Simonk83, DeadTerra, mb300sd, ScottJ, REF, nave, Soros Shorts, ShadowAlexey, Cobra

The glbse fund is a bit light on as far as a product disclosure document 

I suppose I could ask the guy who offered the security on glbse but Im not sure if he has all the information required.

Would you be ok with sharing with him some more details and he can in turn pass it on to share/bond holders ?

Thought that might be the case based on your earlier posts.

Im have some kraken passthrough shares. Im just trying to ascertain the risk profile and how much toxic debt is loaded into the fund.

Are you an investor via a pass-through, or just asking a bunch of questions?  (i.e. why do you care)

Can you explain what the assets are more clearly ? For example real estate being sold under mortgage distress ? Payday loans ?

Would you get an independent audit done ?

Kraken funds were used to buy assets held by the Kraken fund.

Have you used any of the Kraken funds to pay out Starfish Bank depositors ?

No, there was no personal or pirate debt moved into Kraken.