Ultima Fund - BitCoin investment fund - page 3.

Pistachio

legendary

Activity: 1456

Merit: 1000

Hi all,

I like the idea of using rather than hoarding bitcoins. So, I am giving this a try for two months to see how it goes. Just put in 33BTC last night.

Update from this morning: The 33BTC I invested already missed out on the 12% gain this morning in short trading with BTC/USD, so not off to the best start. Let's see how the fund does over the Holidays. Wink

Out of curiosity, what keeps others from investing in this fund or similar bitcoin funds? For me, I am reluctant to invest any more than I have without some sort of third party assurance or community involvement of some sort to reassure me that the site's owner will not walk away with all of the deposits. Any ideas on how to improve trust in the bitcoin community in these types of situations?

Gabi

legendary

Activity: 1148

Merit: 1008

If you want to walk on water, get out of the boat

Remember, trust NO ONE

DeaDTerra

donator

Activity: 1064

Merit: 1000

Quote from: ZoladkowaGorzka on December 13, 2011, 06:16:31 AM

Did anyone used this Fund and want to share expiriences?

I have used it, seems like a nice going fund, legit and a good profit

Though I have not cashed out yet Tongue

I have invested 7 BTC and after I have gotten back the initial fees (about 3 weeks), I have had a overall profit even though it goes up and down each day as expected.
// DeaDTerra

ZoladkowaGorzka

full member

Activity: 149

Merit: 100

Did anyone used this Fund and want to share expiriences?

Explodicle

hero member

Activity: 950

Merit: 1001

Quote from: avoid3d on November 10, 2011, 12:03:57 PM

Quote from: rahl on November 08, 2011, 03:10:13 AM

And who are you and why should I trust you with my money?

+1 you are advertising remember

+2
The domain is registered anonymously by proxy.

ultima

member

Activity: 96

Merit: 10

I post most of the portfolio changes on fund's twitter account, however these are past events. And you don't know what is our position strategy. It could be short term or long term position. You also don't know the position size.

Most of the hedge funds post quarterly portfolios. I believe US hedge funds are required to.

Dan The Man

hero member

Activity: 672

Merit: 500

If your funds positions are all public, what prevents someone from just copying all of your positions while keeping their money to themselves?

ultima

member

Activity: 96

Merit: 10

Our fund is now 1 month old and we managed to collect our first 400 BTC. I want to thank everybody for placing your trust in us. We added fund size data on our front page yesterday, so now you can track fund movements. We plan to add personal charts to user's account page (to track personal fund flows), statistcs page (with fund detailed statistics and charts) and fund history export in CSV format (value, shares outstanding, size). This should increase our transparency.

We also feel that our plain HTML website needs an upgrade. We are looking for a web designer to make our site look good. Send us PM or email to [email protected] if you are interested.

Payment in bitcoins (or paypal if you prefer).

ultima

member

Activity: 96

Merit: 10

Quote from: DeaDTerra on November 21, 2011, 10:41:33 AM

When i try going onto your website I get a 500 error code, it kind of makes me a bit nervous. You guys are still here right, it's just the servers that is down?

Yes, there was a server problem. We use google cloud services, there is nothing we can do about that. Google switched to new billing recently, so they could have some problems with that.

DeaDTerra

donator

Activity: 1064

Merit: 1000

When i try going onto your website I get a 500 error code, it kind of makes me a bit nervous. You guys are still here right, it's just the servers that is down?

ultima

member

Activity: 96

Merit: 10

Quote from: omarabid on November 12, 2011, 05:48:00 PM

I'm considering 5% to be a respectable and expected yearly return. That if you are investing on something safe.

Say I invest 500 BitCoin

-> Deposit Fee ( Huh

) : 500 x 0.97 = 485 BitCoin.
-> 5% Yearly Return: 509.25 BitCoin.
-> Profit Fee : 509.25 - 2.425 = 506.825 BitCoin.

I hope there isn't a withdraw fee. That is a 1.3% yearly return.
Seriously, you should consider it again.

It is not supposed to be a risk free investment. The fund had 8.37% return since inception (less than 1 month). This is 115% annualized. I managed to achieve that kind of return because of very good arbitrage opportunities this week. And my S&P 500 short position returned more than 1% in last week (and has been closed), so don't expect 115% after one year. My target is 30%, but in times like these (last 2 weeks) I can make a lot more. Yes, there are risks, this is clearly stated in FAQ section.

Quote from: bulanula on November 12, 2011, 05:51:44 PM

Well I think this is a big Ponzi scam. Prove me wrong if you can Tongue

I post my position changes on fund's twitter account and on ultimafund.com webpage. You can check twitter.com/ultimafund when I posted that I opened S&P 500 short position and compere the movement of the index and fund's share price. I closed the position today.

Monday's price rise was affected by arbitrage trading. Mtgox/Tradehill and Tradehill/Bitstamp. You can even go to bitstamp.net and see Monday's transactions when I sold 100 BTC @ $2.85 and $2.79 when price on MtGox was $2.30 (https://www.bitstamp.net/market/last_trades/ see my two trades @ 11.14.2011 18:03:59).

bulanula

hero member

Activity: 518

Merit: 500

Well I think this is a big Ponzi scam. Prove me wrong if you can Tongue

omarabid

full member

Activity: 133

Merit: 100

I'm considering 5% to be a respectable and expected yearly return. That if you are investing on something safe.

Say I invest 500 BitCoin

-> Deposit Fee ( Huh

) : 500 x 0.97 = 485 BitCoin.
-> 5% Yearly Return: 509.25 BitCoin.
-> Profit Fee : 509.25 - 2.425 = 506.825 BitCoin.

I hope there isn't a withdraw fee. That is a 1.3% yearly return.
Seriously, you should consider it again.

avoid3d

member

Activity: 70

Merit: 10

Quote from: rahl on November 08, 2011, 03:10:13 AM

And who are you and why should I trust you with my money?

+1 you are advertising remember

rahl

full member

Activity: 140

Merit: 100

And who are you and why should I trust you with my money?

ultima

member

Activity: 96

Merit: 10

I have just opened my BitCoin denominated fund for public to invest in. Check it out: www.ultimafund.com

Please read FAQ page for some info and if you have more questions ask here or send an email (info AT ultimafund.com).

Topic: Ultima Fund - BitCoin investment fund - page 3. (Read 10103 times)