With BMF, for example, my strategy is to support the NAV out of management fees. This means I make nothing from running BMF. But if I can push the net asset value over 1.05 or 1.1, I believe people will rush into BMF at 1 bitcoin, because it represents a good underlying value. Then, in about a year, after I have finished building my company after blood sweat and tears, will I allow myself to finally sit back on my personal shares and make a small profit.
This is precisely the reason why my fund only charges a performance fee, and no management fee. This mean I only get paid if my investors make money. Not to mention that I own 50% of the fund's shares as well, and pay myself in shares as well. Gotta have your skin in the same game as your investors - otherwise, investors lose. I could not agree more with the OP. |
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I have a potential lender, but if they back out then I will probably just not borrow this sum at the present time. Rather, I will raise the funds by selling additional shares.
Thanks,
-cyto
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wow, that's like almost ten million dollars!!! that's crazy!
If Bitcoin keeps rising, we'll all have wallets worth this  |
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I need 500 BTC to secure some investments for my fund. Please PM me if you are willing to lend.
The duration is 2 and a half weeks ( due no later than the end of the month ), and I will pay a lump sum at the end of at least 540 BTC ( perhaps a little more ).
PM me if interested, thanks!
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Based on questions I have received, I have updated the FAQ to clarify how fees work. If you don't want to re-read the OP, here is the relevant section: The 20% fee only applies to the differential between the last high water mark and the new high water mark. This means that I only make money when my investors make money. For example: if we have a losing month, that means I have to make that money back and then some before I can get paid. ( This is also known as a performance fee. ) There is no management fee. Thanks, -cyto |
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Thanks, this is good info. It sounds like having an intermediary would require a fairly large commission, as well as compensation for any charge-back from the merchant. The reversibility of CCs and PP is indeed a huge problem for everyone.  |
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I know there are checkout services for the opposite ( i.e. those take take bitcoin and pay the merchant in US dollars ), but what about the other way around? Is there an easy service that would allow me accept credit-cards and paypal for my business, and yet "automagically" receive the payments in the form of bitcoin?
Any info would help, thanks!
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The current fiat system is in its death throes. The people will one day realize that bitcoin is the safest asset - probably after there's a major bank run. That's when our little currency will start to really become worth something...  |
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It's been about a week since I've been able to access my GLBSE funds. Ever since I tried to recover the account after applying dual authentication and having it working for about a week. Their technical support has responded a few times telling me to:
a) Enter the auth-code.
b) Use my correct email address.
c) Make sure my phone has the correct time.
I'm using the same authenticator for other accounts, and we discovered that my phone's time should be fine.
Every time I try to recover the account I'm told my email does not exist however tech reports my account is fine.
Has anyone else had this problem?
See here https://bitcointalk.org/index.php?topic=85568.msg943384#msg943384 |
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Updates: - Completed work on one of my slightly higher-frequency indicators, which will help us to time purchases after a buy signal is received
- Received several sell signals today, luckily nothing we own
 - Optimized some strategy parameters to reduce portfolio turnover
- Moving over about 2K BTC into the GLBSE, so I will buy up the remaining IPO shares soon. I will issue an additional 4K shares shortly thereafter, giving us an initial target market cap of 5K BTC.
Take care, -cyto |
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You of course need to know your private key. You don't need to know your public key, it can be calculated from your private key. You don't necessarily need to know the recipient's public key, just their Bitcoin address. (but if you have their public key, you can calculate their Bitcoin address from it). What you need that is NOT listed, is the full TXID+index+amount of the incoming coins you want to spend. TXID is a 256-bit number identifying the transaction that sent you the coins, index is a small number (usually 0 or 1) that identifies which of the payouts belonged to you (since one TXID can and usually does have multiple payouts - one for you, one for the payer to get back his change) and of course you'll need to know the amount so you can generate an appropriate transaction to pay yourself back the change from the transaction you later produce (you need to know how much the change will be for this to be possible). Right, this is what I was trying to say... albeit without the same depth of technical understanding |
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Wow, where can I buy some equity in this Matthew guy? He is quite an entrepreneur.
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Yes and no in my opinion. Yes, we can have other crypto-currencies, but they would have to be small niche. No, we cannot have another widely used global crypto-currency that competes with bitcion. The network effect of bitcoin is so powerful that anything technically superior would simply be adopted into bitcoin. The fact that bitcoin is open-source is precisely what makes me so bullish on it, because it gets better with age |
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Have you thought of just joining up with Matt and the Bitcoin Magazine gang? Or do you want to remain independent?
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Hmm, so how were the passwords hacked if they were hashed and salted properly?
Hint: They weren't...
OMG what idiots... |
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Heyaa.... is it technically possible to generate a transaction from a private key and somehow get it out into the block chain without actually having the blockchain? Like to make a really lightweight "spend only" client with your private key(s) in it?
Help me, big brains!
Yes, I believe it is possible. The block chain is only needed to verify transactions. But you would need all the unspend txs for your wallet. |
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Can someone explain to me the big practical difference between SHA-256 and SHA-512, other than the larger digest for the latter?
Not much. SHA-256 block size (input) is 512 bit and SHA-512 block size is 1024 bit. SHA-256 digest (output) is 256 bit and SHA-512 digest is 512 bit. The initialization constants are different. SHA-256 uses 32 bit "chunks". SHA-512 uses 64bit "chunks" SHA-256 has 64 rounds (iterations of the algorithm), SHA-512 has 80. Other than that they pretty much are the same. Same basic algorithm.  So is there a significant security advantage to using SHA512 over SHA256, or not really enough of one to justify the extra cost? |
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Can someone explain to me the big practical difference between SHA-256 and SHA-512, other than the larger digest for the latter?
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