Topic: Official Exchange-Spot Investment Support Exchange.ESIF ESIF ESBM (Read 2265 times)

What's the status? Op here?

Still waiting on an answer to this...

What is the status of the migration from Bitfunder to Cryptostocks? I have received a number of payments to my Bitfunder public BTC address since November 1, but since that address is used by all former Bitfunder issuers for dividend payments etc. (at least until they relocate to new exchanges), I have no idea which one of those transactions, if any, is the 'verification amount' you announced that you were going to send out. If you have sent out the verification amount, please let me know the date you sent it, and I can let you know what amounts I received that day. Alternately, if you have not yet sent out the verification amount, I would like to suggest that you have us send you a signed message from our Bitfunder public BTC address instead. Since the blockchain is public information, it seems that anyone who knows your sending address (or the receiving addresses, which were also public information) may be able to see all the verification amounts you send out. The signed message seems to be a more secure way of doing it, and is the method that most of the other issuers have used. In any case, please give us an update on the migration since this is starting to drag out, and I would like to get all of my assets from Bitfunder marked as 'successfully migrated' in my records as soon as possible. Thanks!

Any update on the migration from BitFunder?

We are migrating the bitfunder.com shares to cryptostocks.com.  We are going to send a verification amount to the wallet address on file with bitfunder.com once you receive that amount please PM me with the amount you received and your email address and number of shares owned on bitfunder.com that you have registered with cryptostocks.com and we will transfer you your shares from bitfunder.com to your cryptostocks.com account.

send any questions you have to me.

thanks

Any news on the status of Exchange.ESIF on BitFunder after the recently announced changes in BitFunder policy? Will Exchange.ESIF be staying on BitFunder, migrating to direct shares or to another exchange like 796.com, or shutting down? Can users who have a Cryptostocks account get their Exchange.ESIF shares from BitFunder converted into ESIF shares on Cryptostocks? Thanks!

The market CAN'T "find a price" when you don't define what it is that they're supposedly paying for.  Nowhere do you say what value of assets you have backing each unit. And unless the funds raised match the value of assets then the act of selling CHANGES the assets backing each unit (increasing it if you sell for more than your NAV/U and decreasing it if you sell for less).

Riddle me this:

If exchange-rate is $10/BTC and you sell shares for 1 BTC and use that 1 BTC to buy $10 worth of shares.
Then exchange-rate changes to $20/BTC and your shares pay $1 in dividends to you.
How much profit have you made?

You're acting as though you made ANY profit.  But if you leave the share price the same in BTC then you MUST measure profit/loss in BTC - and you actually made 0.45 BTC loss (Value of investments dropped from 1 BTC to 0.5 BTC and you got back 0.05 BTC in dividends).

I just hope this is a scam - that way at least you'll probably give back 1/3 of what you raise as dividends to attract more 'investment'.  If it's not a scam then investors are likely going to be much worse off: as all new investment is not only subsidising earlier investment but doing so at a less favourable exchange-rate meaning they likely lose 3/4 of investment the instant they click the buy button.  And thats at your discount rates - god help anyone dumb enough to pay 1 BTC for shares when earlier investors paid a fraction of that at a worse exchange-rate.

Pretty sure I am just a bad speller and you will probably see that if you read many of my future post.

the way pricing went on these it let us know what the market demand was as far as pricing goes.  Then the shares were going to be offered at a rate that was consistant.  Since btc move like they have been we are going to offer the shares at the price that would be consistant with what they have averaged for us based on the US Dollar value of the holdings.  We had planned on going through the March payout to give us basically 3 months of market to find that price.

This might be off the mark, but a former scam asset issuer (Capital one?) couldn't spell interest either. Possibly same person?

It's supposedly a fund.  You don't price based on what people "believe they are worth".  You price based on the value of the held assets.  If supply is unlimited (i.e. you'll sell as many as you can) then you sell at NAV/U.  If supply is limited (you only sell X per month) you sell at a MINIMUM of NAV/U - with the market setting a premium if they believe it's warranted (demonstrated by orders exceeding supply and the price being bid up prior to release of each batch).

I thought that it would create an intrest in the asset.  figure give the early adaptors a little more return because they took the risk to move forward with us.  It you notice they climbed from very small numbers at lower prices to increase the numbers of share as they got higher.  There are some dips in there where people put assets up for sale for under what they bought them for. Guess they must of have another idea.  So when you see large drops in price that was not me selling them as large discounts that was other users.  My idea was a nice climb to a price that people believe they are worth. 

At the start, why were you happy to dilute existing shareholders by selling them at inconsistent prices?

Not to many, but it provides more liquidity to users on there, but we have no problem with buybacks if requested.

More liquidity? Does anyone even use cryptostocks anymore?

we also will transfer them to other exchanges we are traded on.  creating more liquidity then most investments out there.

thanks poly

That is what I mean Sorry.

We will buyback shares at the current pricing, but it would need to be set up with us for any large amounts due to the fact that money is invested at all times so we would have to set up the buyback at a time that does not cause any lose to the other investors.

He should have no problem buying back the shares at 95% or something, pokey would be making money with each buyback!

Probably, yeah - but he said it in response to my question of how he provided liquidity.

I'm pretty sure pokey referred that as the "blanket buyback from asset issuer" instead of 'request a buyback'.

110%?

So I could buy a laod of your shares - getting the recent trading price to what I paid.  Then sell them back to you for 110% of what I bought them for?  We could just simplify it and you send me 10% of some arbitrary amount and save all the hassle ...

Sorry, you're right, calls, but I agree it's pretty implausible.

You offer buybacks at 110% of the recent trading price? Can I request a buyback from you or would it be that I have to trade it on the market?

I could have bought puts on BTC if I wanted to lose my money.

But I did not

Surely he'd need to buy calls, not puts - and the premium on those would exceed his supposed profits anyway.

As this investment states it is held in US dollar denominations within US stock markets.  So returns are going to be based in dollars.  Now with the quick rise in btc value as of late it does create a situation that will product smaller returns with the aspect of btc percentage of return, as it will do the exact opposite and create greater returns when btc decline.  In our activity report that we have posted you can see the average cost of btc when shares were purchased from us.  Our thought would be that the investor will set the price on what they are willing to invest for the return that we are providing.  I believe you have made a good point that with this rise in value of the btc  that we need to offer unsold shares at a more comparable price to where they have been selling in relation to the value in US dollars, since that is how that money is held in investment. 

We do offer buyback on shares for 110% of recent trading price as listed in the asset page.

He could be buying put options of BTC, but I have a feeling there's nothing but hot air behind this.

What doesn't make sense with your fund (and ONE of the reasons I was - and am - sure that it's either a scam or a disaster) is that you sell BTC-denominated shares/units, invest in USD-denominated assets but your share/unit price doesn't alter when the BTC/USD exchange-rate changes.

If your fund sells units at 1 BTC each, converts that to USD and then buys shares, then BTC doubles vs USD.  Guess what?  Your units are each now only backed by 0.5 BTC of assets and should be priced accordingly.  But nowhere have you been reporting such changes, let alone reflecting them in your selling price.

Which makes you either utterly incompetent or a scammer.  I'm open-minded on which - if you have a preference or would like to argue the case for one or the other.

Your old .pdf, when you launched the fund had a list of monthly results going back a year or two (percentage profit per month) - yet totally failed to say in what currency this supposed growth was measured.  If you're asking people to invest BTC then you need to show BTC results - it's entirely profit (indeed, likely) to make a profit in USD but a loss in BTC.  Paying out dividends whilst losing NAV/U at a faster rate is NOT making a profit (no matter what most mining companies think).

Are you seriously going to set the price of a unit at 1 BTC - when the assets held are valued in USD?  You should either float the price based on most recent valuation OR define the price in USD, update it (in BTC) as exchange-rate moved and dividend our any extra profit from growth of the held assets (or retain part of the profit from options if the underlieing asset value changes) to keep the price fixed.  You CAN'T set a fixed price in BTC without ending up doing some mix of diluting existing units when new ones are bought OR over-charging new purchasers so they immediately take a loss (in terms of asset value compared to investment) when they buy in).

Oh - and what is your policy on buying back units?  A fund should provide liquidity by buying back units at somewhere near selling price - otherwise it isn't a fund, it's a black hole which sucks in BTC.

Actually a week ago that became correct.

he's a pokeyat40

But i am not a viking or "Pirate"

You're not doing this right - you need to pick a nickname that has some nefarious connection in them. I'd suggest vikingat40.

We also offer bitcoin investment opportunities.  Shares of these can be purchased via the sites of Bitfunder under the symbol of Exchange.ESIF  and Cryptostocks under the symbol of ESIF

These two funds are the same investment fund just providing more liquidity than trading on just one site.  Shares can be transferred from one site to the other at anytime by contacting us directly to do so.  

These funds leverage the value of bitcoins by converting them to US dollars and purchasing stock to hold in long positions and writing covered calls on them every month.  

We have also started a second investment fund currently which is for us to move locations and start some new ideas.  This is more of a commercial property loan and will be paid interest and paid off in a length of time.  It currently trades on Cryptostocks under the symbol ESBM

For more information about us you can visit an about us page.  

http://www.exchange-spot.com/exchangespotbio.pdf

Investment Activity Report.
https://www.dropbox.com/s/qrb2i8dktt1pt82/ESIF.pdf

It's monitored by our support team, so if you have an issue, question, comment, feel free to post your order details here and someone should respond within a few hours during normal business hours (a little longer on weekends and outside of business hours)

Thanks for all your continued business and support!