Hello,
I am back from my day off. Unfortunately I came home yesterday and the market for mining bonds had crashed additionally, The precautions I had setup had absorbed some of the losses but we still took a heavy hit. At this moment GLBSE is very unstable and has a low liquidity making it hard to sell off without taking major losses. As this is having a huge impact on our profit, I have decided to put a plan in motion, to ensure our profits remain at a good level for the long term of the fund.
I am going to reboot our portfolio, Two weeks from now the purge of our old portfolio will start. I am going to setup a spreadsheet within a couple of days, and re analyze every single Asset on GLBSE, using measurements like P/E to decide which assets are a good investment and which are not. I am also going to rate the assets on how risky they are depending on a number of factors. Basically this spreadsheet will contain all the information that I need to make good investment choices. Depending on how in depth this spreadsheet will be it will be updated on weekly or monthly, this will be our new edge against other investors, through information we shall prosper.
As I now have finished my research project, this project and the fund will have my full attention and time.Once the spreadsheet has been finished, action will be taken to ensure our continued profit. All assets that are shown to be a bad investment will be sold off, due to this I am announcing a lose warning from the 6th of July and onwards until our portfolio has been updated. There will be short term (1-3 weeks) loses, but this will enable us to profit in mid (1-3 months) and long term (3+ months). Hence if you are not willing to take some short term losses for a mid/long term profit, then I advise you to withdraw your deposit, withdrawals will be open until the 6th of July. That brings me to my next point.
From the 6th of July Gamma Bitcoin Fund will no longer accept any more deposit, for a unknown time. This is due to that we will be going through a number of upgrades and improvements. We will be getting a new website, we will be updating infrastructure and spreadsheets to enable a more open and transparent fund. We will also be upgrading our security, making us more hack proof as well as protecting us from data losses etc. This will be done with some help from some security experts that have offered their help to secure to GBFs capital. I can't give out much details, but we will be moving to a safer OS as well as getting two-factor authentication (for GLBSE,MTgox etc). I will also be working on ensuring the profit of the fund, by developing and improving/optimizing current and new trading strategies/tactics. I will also be looking into incorporating GBF, to ensure that the legal aspect of the fund is also improved.
Only when all these aspects have been fixed/improved to the point where I feel comfortable opening up for more deposits, will the fund start accepting deposits again. We will setup a queue system in which the time a deposit was booked will determine, in which place in the queue the person is placed. Hence the earlier someone placed a deposit the earlier it will get to deposit the fund. I want to keep capital in the Funds stable during the time of upgrading, so if someone withdraws say 100 BTC then 100 BTC deposit slot will open up.
The Future of Gamma Bitcoin Fund looks bright, but it will require hard work, time, energy and probably a short term sacrifice for the long term health of the fund.
As a starting of the improvement of Gamma Bitcoin Fund, I am going to withdraw about 200 BTC, to purchase new hardware for my working computer as well as a smartphone to enable two-factor authentication. This is something I have been thinking about doing for a long time and does not have to do with the previous losses of GBF.
As always, if you have any question or concerns please do ask
//DeaDTerra
Ps: There is no deposit limit until the 6th, so if you want to take this chance and deposit please do.
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