You obviously haven't read what I wrote when I said I would guarantee the rate and against loss, or maybe you have but you just haven't understood it. So I'll just ignore you.
Guarantee with what? What collateral are you willing to post. You going to offer a signed contract, with identity verification, and post sufficient collateral to cover investors when your market genius falls short? Or does your "guarantee" come in the form of 60 whole posts in a anonymous forum? Also since you will denominate the note in dollars but handle payment in BTC even if you could post sufficient guarantee the only investor it would make sense for is one who believes the annual appreciation of BTC is <10% (for the sake of argument lets pretend the risk of default is 0%). Otherwise they could simply hold the BTC and earn 10%+. Since you have me ignored I don't expect an answer but that lack of answer will hopefully keep investors from losing money on your 10% "guaranteed". I didn't mean forum ignore, I meant I wouldn't be responding to you. But it seems you are willing to discuss this so I'll point out, just off the top of my head, I can write covered calls on a commodity and get more than 10% return just from that. If you don't believe me, check out the horizons alpha pro series of covered call funds based on commodities, such as the crude oil yield, silver yield, and natural gas yield, all of which pay over 1% a month (over 12% a year). If I had $100k assets under management this means I would make $2,000 a year. Actually not very spectacular, is it? But it's easy work. Of course, if I do it myself, I don't pay the management fee, and can return that value to shareholders in the form of reduced risk and/or higher coupon rates. Which is why I am willing to guarantee the rate of return. Secondly, those funds in general only write calls on 1/3 to 2/3 of the portfolio. If I sell futures and write covered calls on those I could probably double the return for my investors, while removing price exposure. So as you see 10% is a very conservative estimate I just threw out there, once this gets going I think 15 to 20% per annum would not be out of the question. But just being realistic and so I dont shoot myself in the foot, 10%. As for collateral, the point is that when you give me money and I invest it into commodities (for example) the commodities themselves are the collateral. If you like I could write them against gold and then send you photos of some gold coins I have in secure storage and/or my posession. Doesn't really make much difference. As it turns out this thread should probably be closed since it seems GLBSE is the better way to offer something like this. Not sure.. I'm still a little wary of converting large amounts of bitcoin into cash. Good old covered call strategies... works great unless the underlying ( in this case, commodities ) don't hold up. Which reminds me, the PPI numbers came out last Friday, and we've got the lowest inflation readings since early 2009. I suppose it's a little better than being naked long though. |
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If you do invest, I'd say manage your money *as if* it's a ponzi scheme ( i.e. assume a default will occur at some point in the future ), so you win no matter what happens in the end.
However, be wary that greed has a way of blurring your judgement; somehow many of those Madoff investors who even knew it was a ponzi lost money - they just kept thinking it could last "just one more quarter". Even investors who got out early were hurt due to clawback - but of course in the bitcoin world there is no clawback. When you think about it, bitcoins are the perfect instrument for ponzi schemes in a way... with sufficient anonymity, the perpetrator can actually enjoy their winnings on a beach in Jamaica when it all falls apart.
Note that I'm not claiming it's a ponzi; I have absolutely no proof nor evidence either way. I'm just saying be prudent with your hard earned bitcoins. Money easily gotten is often easily lost.
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The market does not return 10% but I did not say I was going to invest in the market as a whole.
As for "magic" if you think rates like 4% a week or 10-18% a month are realistic you need to think again. 10% annually is extremely realistic for a managed portfolio.
At any rate if someone is interested in investing in this type of security I don't mind sharing all the details with him. Like I said it's essentially a mutual fund, or a bond investing in my investment strategy.
What is the exposure, cagr, max dd, holding time, average per trade, and sharpe ratio for your strategy for the past decade, past year, year-to-date, and year-over-year? Can you post charts with this data? There are many questions someone smart would have before they would seriously invest with you that need to be addressed. |
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One shit sandwich? $4.25
One Russian hooker? $200
One illegal kidney? Over $1 million
My reputation? Priceless
Your reputation? 25 BTC
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Freedom is slavery, war is peace, and bitcoin is not currency. Move along, citizen.
+1 |
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It truely doesn't matter what other people think - that's the best thing about Bitcoin. Krugman can hate us for having a "deflationary" currency, people such as the speaker mentioned in the OP can claim it's not a currency despite it being used as such, and others may proclaim that exchange hacking makes them "have no faith in Bitcoin" ( I have heard that one a lot ). Despite the logical fallacies in all of these objections to Bitcoin, they are pervasive, and they are very good for those of us who fully grok Bitcoin. The worthy will own Bitcoin and will profit mightily from its ascendance long before the unworthy are forced aboard the train. So the more people hate on Bitcoin, the more I want to buy for myself while they're cheap  |
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Forgive me as I haven't read this entire thread, but I wanted to say something about money - and more specifically, Bitcoin.
The beauty of a viable independent currency is that it allows for the automatic emergence of complex order. Just look at all of the Bitcoin services that we already have, all created without any official authority or governing body.
However, if you're recommending an economy that is moneyless, I don't see how the complexity could exceed even a tiny threshold since a barter economy lacks the high-level abstractions that money provides. And if you argue that it could be done through governance you hit another wall: centralized power only works in meat-space, not in cyber-space.
So in summary, it is my opinion that without money we surely could not have any semblance of a micro-economy here in our little corner of the internet.
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I wish to be whitelisted if possible. I already know much about bitcoin, the blockchain, mtgox, glbse, the early days of the 10K pizza, the mybitcoin fiasco, etc.
My interest here is in building financial services related to bitcoin - specifically, in terms of forecasting and investments. I haven't decided what form this will take yet; right now I am still in the research phase in terms of developing a financial "ubermodel" that can correctly predict a profitable asset class ( as well as as outperforming asset within an asset class ) at any point in history. It is a long-term model designed to be utilized without having to computerize the execution side ( that is, it can be easily distributed and utilized as a simple newsletter due to low portfolio turnover ). I hope to extend my research into the GLBSE as it grows s.t. I can eventually recommend investment portfolios in this area.
Send me a private message if you have any other questions. I am also willing to donate BTC to the forums in the near future if that will expedite the process. Thanks!
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Greetings to everyone here in Bitcoin land.
Although I am new, I hope to eventually start my own Bitcoin-based business with the goal of succeeding independently - without having to work as an employee for someone else as I do presently.
Looking forward to a brighter future,
-cytokine
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