It's the end of yet another week and now there's only one week left until Deposit shut down and the fund upgrade period  I can report a good week of 4,957% in profit and as promised I won't take any admin fee hence everything goes to the fund! It has been a week with some new interesting projects as well as the finishing off of some old once. We have invested in two new and interesting projects, the first of them is the hand held Bitcoin device called Ellet, which we have given 3000$ in a loan to them for a rate of 2.7% a week (denominated in USD). This is a great deal and I feel like it helps the community and the effort of producing a great product For more info about Ellet have a look at https://bitcointalk.org/index.php?topic=85931.0The other project we have taken part of if the Bitcoin Magazine, we have purchase 1.25% of the company for 2500$ , I think it's a great company with huge potentials. They have some very good staff and have produced a lovely product, hence I think it's a great deal and it will also help support the growth and mainstream acceptance of Bitcoins, perfect for the fund  . The third project of this week has been Rebate, I have finally managed to grease the wheels enough so things started spinning, the website is now up and running at bitcoinrebate.com It's a hell of a lot of fun and I have already made 0.3 BTC in the half an hour I spent on it. It's basically a arbitrage and penny auction where you bid on discounted bitcoins. It's a gambling site, but it's a lot of fun according to my experience, quite addictive as well xD Oh well hopefully this will mean that the dividends will soon start to roll in which is great news, this is one of the reasons why this week had such a good profit. The Rebate share sprung from 0.14 to 0.23 after the announcement of that Rebate was finally up and running after a long time of waiting. Except for these three projects, we have also been selling and buying shares as usual the GLBSE bubble bursted a couple of weeks ago but it seems like the market is now recovering and is on it's way up which is great news, I can see a general trend of increase in share prices Here's some stats for you guys: Current Capital: 14012.642 BTC Current amount of investors: 97 Investors Percentage of Profit since the start of the fund in April: 25.7% (compound interest since fund start) Average profit per week: 2.76% Average profit per month: 11.04% Another good news is that I got around to asking Kluge if he could confirm my ID, which he has done on this thread He will keep my ID document and release them in case I run away with the funds money etc. If there's any questions or concerns please do ask. //DeaDTerra |
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And who exactly are you, Kluge? Kluge is owner of BDK, a successful and respected Bitcoin business, he's very trusted in the community. He does tons of escrow etc, check him up here on the forums He's someone more people trust. //DeaDTerra |
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Nice, good to see some profits About the ID thing: You could have some people that have your ID confirm here that they have your ID. Then you don't need to show your ID, but people don't have to trust you on your word either. (This is a solution to the presented issue, I don't really feel the need to see your ID or to have people confirm that they've seen it.) I was thinking having someone like Kluge a trusted lender and member of the community, have my ID. If I run away from the fund, and the case is obvious I stole the Bitcoins then he releases the ID. Would that be something that the investors would be interested in? //DeaDTerra Yes that seems a very good idea to me ID documents have been sent to Kluge, he has agreed to act as a third party member between me and my investors. In case of a default (that I run away with the money), he will release my ID to the public. He will probably confirm this in a couple of minutes after he had have a look at the ID document //DeaDTerra |
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Profit has been paid out and the investor spreadsheet has been updated A weekly report will be released later on tonight. //DeaDTerra |
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Nice, good to see some profits About the ID thing: You could have some people that have your ID confirm here that they have your ID. Then you don't need to show your ID, but people don't have to trust you on your word either. (This is a solution to the presented issue, I don't really feel the need to see your ID or to have people confirm that they've seen it.) I was thinking having someone like Kluge a trusted lender and member of the community, have my ID. If I run away from the fund, and the case is obvious I stole the Bitcoins then he releases the ID. Would that be something that the investors would be interested in? //DeaDTerra |
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The profit this week landed at 4.957% this week and as I promised I won't take any admin fee from this profit and from the next positive one I am a to tired to pay the profit out and to write an analysis, so instead of taking the chance of making a mistake I will do it early tomorrow. Sorry for yet another delay guys //DeaDTerra |
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Why exactly do you need to be anonymous in public if you are running a business that has 5 digit BTC sums of solicited investment money from the public?
personal safety would be my guess.....
Partly due to privacy, partly due to personal safety. I don't like having my ID out in public, it makes me exposed. //DeaDTerra |
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My balance is not changing whether I win or lose?
Hm that sounds very weird, could you please describe your problem further? Have you tried reloading and logging in and out? //DeaDTerra |
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what are your securities in place against hacks and whatnot? how are we insured against you taking the fund for yourself? I really wish that with the effort that scammers put into their work, they could be making a lot more money in the long run. Ah well, in an ideal world...
Security is one thing on the list of stuff I am going to upgrade and improve during the shut down time of the fund. I can't give away any details but I will have some people that work with IT security have a look at my system and help me improve the security against hacks etc. Most of the Bitcoin the fund owns are not actually on my computer, they are spread out on different exchanges and sites, I am getting a smartphone to enable two-factor authentication which will help with improving security I have my ID submitted to a couple of exchanges, I have also given my ID to a couple of people in the community, if I were to run I am sure they would release my ID information to the community. But there's no insurance, this is yet another point where you have to trust me. I am not giving out my ID publicly at least no yet. I am in this for the run long and anyone that has talked to me for a longer period of time knows that //DeaDTerra |
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The site hanged a couple of hours ago and isn't processing withdrawals. Is it just me?
Withdraws are done manually at this moment, automatic withdraws will be added soon //DeaDTerra |
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Hey, the site isn't bad at all, I'm happy with my investment now. Definitely a recommended way to get some coins. Will probably need some advertising though. The only thing I didn't like about the site is the alert system. It pops up messages in a manner that is impossible catch every time. The messages need to be visible in a log style list. There is enough space on the screen for that. It would be nice to see the list of auctions I won/lost too. EDIT: There are some interface bugs too: Actual Earnings : NaN BTC  Hello, thank you. I am happy that you are happy about your investment and I am sorry about all the delays. We plan to remove all the bugs and optimize according to feedback before we start advertising, and as there are only a few players on it's quite easy to win bids now so take advantage of it. Okay I will bring this feedback to the developer and we will fix it //DeaDTerra |
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I look forward to what JRO has to say. From my understanding his "arb bot" has the ability to do something that no other person in BTC can do. Assuming this is true, I just find it shocking that the end use for it turned out to be a gambling site.
I don't think they even need some arb system to back this. I give you an example: 1BTC for sale. Now the bids come in: 0.1BTC 0.15BTC 0.2BTC 0.25BTC 0.3BTC 0.35BTC and finally 0.4BTC. Sold for 0.4BTC. So they got 0.1+0.15+0.2+0.25+0.3+0.35+0.4=1.65BTC and gave 1BTC away for this. Instant 0.65BTC profit. The only risk is that there are too little players. So to lower the overall risk, one could just connect some arb bot to this. How is Matthew involved in this project? Thanks.
He is? You don't really need a arbitrage bot to run a penny auction correct, but it enables you to give better deal and to reduce risks as you said Matthew is not directly involved but he works for JRO (ringcoin) and is involved indirectly in all the projects, he will also be working for the new company called IceHill in which most of the JRO projects will be collected under. //DeaDTerra |
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I look forward to what JRO has to say. From my understanding his "arb bot" has the ability to do something that no other person in BTC can do. Assuming this is true, I just find it shocking that the end use for it turned out to be a gambling site.
How is Matthew involved in this project? Thanks.
I am not sure of how trading 1 BTC for x dollars and buying 1 BTC for Y dollars is any different from any other arbitrage bot? They work in the same way but the advantage of using ZipConf is instant transaction between customer and exchanges. I am not sure if I have managed to explain the arbitrage part in a confusing way? As I said if you want the details talk to Alberto or JRO, they probably know more about it then I do //DeaDTerra The ability to have instant transactions is the "magic" part no one seems to be able to explain. I look forward to JRO explaining it. Thanks Ah that's part of ZipConf, the information to it has been available for a long time but the project is currently on hold. It uses float on each exchange to enable the instant transactions https://docs.google.com/document/d/1zhBdJqp8z4bg6MKcC7yanzuiQtWJmsGQNQ7yVdDAuLU/edit//DeaDTerra |
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I look forward to what JRO has to say. From my understanding his "arb bot" has the ability to do something that no other person in BTC can do. Assuming this is true, I just find it shocking that the end use for it turned out to be a gambling site.
How is Matthew involved in this project? Thanks.
I am not sure of how trading 1 BTC for x dollars and buying 1 BTC for Y dollars is any different from any other arbitrage bot? They work in the same way but the advantage of using ZipConf is instant transaction between customer and exchanges. I am not sure if I have managed to explain the arbitrage part in a confusing way? As I said if you want the details talk to Alberto or JRO, they probably know more about it then I do //DeaDTerra |
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It is a gambling site?
Edit: How do we know the site operator is not cheating since he can see the wagers?
Yes in a sense this is gambling, as the person with the highest bid at the end of the auction wins and everyone else loses. Hence there's always a risk involved with making a bid. In what sense are you meaning? The operator can see the wagers but so can everyone else, the highest bid is always displayed, so is the amount of BTC, the price for this BTC and the discount. //DeaDTerra I do not fully understand how this works. I did not know we could see the highest bid. Since we can all see the highest bid, what is stopping people from bidding higher? Thank you. The auctions only last something like 50-500 seconds. Someone can bid higher, but then they risk someone bidding higher than them. It is a gambling site, effectively - or a kind of penny auction, depending if you consider the two different. You're betting nobody else will bid higher than you, essentially. Highest bid is displayed at the bottom-right of the screen once you're logged in. Okay, I understand the gambling part and suspect bots will get in on this sooner or later (if it works the way I assume it does). However what does arb have to do with this? Thanks The arbitrage system is what enables us to bid off cheap Bitcoins, By buying and selling Bitcoin on different exchanges we can offer cheaper Bitcoin which then people can bid on. //DeaDTerra Do you personally fully understand how this arb technically works or is this just what you were told? In my mind some red flags are being raised. It sounds like "magic" from the limited information I know about it. I did not code this bot by my self neither the system, I was not the one with the idea. But I do know how arbitrage bots work (I have one myself) and I do know how penny auctions work, so I see how the idea could be formed and I know how it can be executed using ZipConf. But I am not the man with the real details. From what I know when you deposit the Bitcoins enter the ZipConf system, which is connected to the exchange a arbitrage bot is connected to this system and uses the funds to find good deal between the exchanged to buy "cheaper" bitcoins then on other exchanges. As we then can buy Bitcoins at a discounted rate we can also sell them of at a discounted rate on BitcoinRebate, ofc the dicount is not only from the arbitrage trading as the profit from arbitrage is currently very limited, we also rely on the bid amount from the losers to keep the platform profitable. The man with the Idea JRO, will soon wake up xD, he's the guy that has the brain that you should be poking  //DeaDTerra |
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It is a gambling site?
Edit: How do we know the site operator is not cheating since he can see the wagers?
Yes in a sense this is gambling, as the person with the highest bid at the end of the auction wins and everyone else loses. Hence there's always a risk involved with making a bid. In what sense are you meaning? The operator can see the wagers but so can everyone else, the highest bid is always displayed, so is the amount of BTC, the price for this BTC and the discount. //DeaDTerra I do not fully understand how this works. I did not know we could see the highest bid. Since we can all see the highest bid, what is stopping people from bidding higher? Thank you. The auctions only last something like 50-500 seconds. Someone can bid higher, but then they risk someone bidding higher than them. It is a gambling site, effectively - or a kind of penny auction, depending if you consider the two different. You're betting nobody else will bid higher than you, essentially. Highest bid is displayed at the bottom-right of the screen once you're logged in. Okay, I understand the gambling part and suspect bots will get in on this sooner or later (if it works the way I assume it does). However what does arb have to do with this? Thanks The arbitrage system is what enables us to bid off cheap Bitcoins, By buying and selling Bitcoin on different exchanges we can offer cheaper Bitcoin which then people can bid on. //DeaDTerra |
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It is a gambling site?
Edit: How do we know the site operator is not cheating since he can see the wagers?
Yes in a sense this is gambling, as the person with the highest bid at the end of the auction wins and everyone else loses. Hence there's always a risk involved with making a bid. In what sense are you meaning? The operator can see the wagers but so can everyone else, the highest bid is always displayed, so is the amount of BTC, the price for this BTC and the discount. //DeaDTerra I do not fully understand how this works. I did not know we could see the highest bid. Since we can all see the highest bid, what is stopping people from bidding higher? Thank you. The auctions only last something like 50-500 seconds. Someone can bid higher, but then they risk someone bidding higher than them. It is a gambling site, effectively - or a kind of penny auction, depending if you consider the two different. You're betting nobody else will bid higher than you, essentially. Highest bid is displayed at the bottom-right of the screen once you're logged in. The auction lasts for 60 Seconds, of sorry I forgot to mention that. So it become a battle between the players of who has the highest still profitable bid before the time runs our. It's a arbitrage and penny auction site I would say it's a form of gambling but instead of the classic against the house it's against other players. //DeaDTerra |
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It is a gambling site?
Edit: How do we know the site operator is not cheating since he can see the wagers?
Yes in a sense this is gambling, as the person with the highest bid at the end of the auction wins and everyone else loses. Hence there's always a risk involved with making a bid. In what sense are you meaning? The operator can see the wagers but so can everyone else, the highest bid is always displayed, so is the amount of BTC, the price for this BTC and the discount. //DeaDTerra |
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How exactly does it work ?
The BitcoinRebate is connected to a infrastructure network called ZipConf which enables instant transfers between wallet to exchange and in between the exchanges, by hooking that infrastructure to a arbitrage bot we can get better prices on our Bitcoins hence offer better penny auctions. The penny auctions works in this way, there is a amount of bitcoins that's sold at a certain price usually between 1-3% discount so say that we are selling 1 BTC then the price you could buy it at is 0.97 or something. You can then bid to get to buy this Bitcoin, the one that bids the highest for this deal get it. The once that lose, losses their bids, so say that you bid 0.001 BTC. If you win you gain 1-0.97-0.001= 0.029 BTC in profit. If You lose then you lose your bid of 0.001 BTC while someone else get's the bitcoins. Is that clear or? //DeaDTerra |
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hey guys! Rebate is finally up and running Check it out at bitcoinrebate.com I have already made 0.25 BTC in about 10 minutes It's a lot of fun and quite addictive, please upvote on reddit as well to spread the site http://www.reddit.com/r/Bitcoin/comments/vu5o8/bitcoinrebatecom_launch_arbitraging_simulation/This is great for our investment, we have already seen a spike in the rebate price and hopefully there will be some nice dividends coming out way soon //DeaDTerra |
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