I warned you. I said, do not sell your shares below 0.99. If you did, you made a mistake. And it is entirely YOUR fault you did so.
Simple solution: Bid Wall at 0.99. Why aren't you?
Because I did, and I am, but I cannot support the entire GLBSE market out of my pocket. Check it out:
2012-09-08 2263
2012-09-15 2109
2012-09-23 2078
2012-09-23 2078
2012-09-29 1543
I bought back 700 bitcoins worth of NYAN.B. That's $8,600 US. But it's not enough. The trolls have destroyed my ability to do business here. Even though I bought back over 700 shares in a matter of a couple weeks, people are not happy.
It is impossible to close down a fund like this at 1 NAV in a crashing market, but I am doing so. Oh and let's not forget the game of minefield I have to play because 2 out of 3 securities we invest in are defaulting. Is that my fault? Uhh, no. Sure, the trolls say it is, but trolls will be trolls.
As a shareholder, if you want to wind down any portion of Nyan while at the moment it can operate, why not just put up a bid wall if you feel so strongly about the above statement of yours.
If your reason for needing to wind down is more of your assets you control are becoming unreliable or toxic, why would I want them either?
The choice is yours. That's the point, you have a choice. And it's your choice. You can wait for a buy back at NAV or you can trade in for shares. I can't dump 2500 coins on the market at bid in 3 weeks. That's dumb. Anyone who is asking me to do that does not understand how markets work. You cannot unwind a fund that took 2 months to grow in 3 weeks in a crashing market. As I said; we're currently in the black. Our contract is very specific. We publish all our holdings. I don't even take management fees on NYAN. So if the market crashes, there isn't much I can do. I'm not superman.
That is proof you are buying back shares, which I do see and see as a good thing, but it's not proof of what you quoted me of saying, a bid wall at 0.99Btc. Buying back of shares certainly has speeded up in the past week. Not sure yet if that is a good thing, was this what caused a bit of panic? Something else?
I've tried to sell my shares for weeks, making reasonable offers usually between 0.95 to 0.99 (even went low as 0.9 once) but they never get bought, the ones that do are always ones below me, selling cheaper. My fault perhaps, maybe I should of just sold at a lower price.
I only have 11 shares, I'd like to sell them, but I know it's stupid to sell too low because I know who's buying them on the cheap, it's not other investors it's you Usagi most the time. Only another fund manager or the asset owner themselves could afford to buy up 700Btc in a few weeks, after all you regularly deal with these large amounts of Btc. I don't blame you for that, I would most likely do the same thing in your position, but don't try make out there is a bid wall at 0.99 when I'm just not seeing that evidence when I should.
It is my choice.