YES 4 / 2 NO    (2 ABSTAINING -- Users with 10 or more shares of LTC-GLOBAL are allowed to vote.)

Anonymous voted NO with comment: 6 months after GLBSE shut down and still no list of assets (specifically mining rigs/ASIC orders). Seems abandoned to focus on new silver asset.

A quick response to this NO vote.

None of my assets have been abandoned. I have contacted ALL the people who owe BMF, NYAN, and CPA money. These people have promised to pay and I believe them because they are active in the community and have made payments in the past. I have calculated how much there is left to pay after that, and I have paid it personally. So there is really nothing left that I owe anyone -- as soon as I receive the money from the people who owe us, I will give it to the investors and we will be done.

Secondly and most importantly. Until that time I will no longer pay distributions on any of the securities. Instead, as soon as these securities are approved for trading I will buy them back on the open market and close them that way. This is the only way to provide closure to investors. There's just too many complications with people who don't read contracts, don't read the threads here on bitcointalk, and in general don't know what is going on. The goal is to provide closure, so putting the action in their hands and getting them to sell for a price they feel is worth it has become the only way to finish this.

That's what everyone else did.

There's really no reason to vote NO on any of my securities.

Voting YES will help my shareholders quite a bit and will enable me to do the right thing in a manner that everyone understands.

I'm hoping you'll realize that and be the fifth YES vote on BMF. Thank you for your time,

A peer voted NO on your security: SILVER

Their public comments:

Claims to be a silver fund but is apparently trading securities (e.g. JAH)
without any mandate to do so.

Just a quick response to whoever voted this; The BTC-TC contract specifically states:

3. SILVER will sell covered call options and invest the cash position to generate revenue and pay for secure storage fees.

I'm thinking your 'NO' vote was probably a mistake, but there's no other way to respond to it than write a comment here. Hope you see this!

I'll also point out quickly that we've hired a financial advisor. We are the only listing in the community which has hired a third party to check our books.

Good luck and thanks for being careful with your vote. It's no good when moderators vote YES without thinking, and poor quality assets run by untrustworthy people slip in un-noticed. There's a few like this already (no names no names). With that in mind, some advice. Before you decide to vote YES or NO, take some actual time and contact the asset issuer. And ask some questions. In my case specifically I have requested that people contact me to resolve any outstanding issues they may have, because there are a handful of malicious voters who are voting NO out of spite. Contacting the asset issuer and resolving concerns is a great way to exercise your financial interest as a shareholder of LTC-GLOBAL and make sure it becomes a strong and financially healthy company. I'm a shareholder too!

Together let's avoid a mistakes such as yours and finally give the asset moderation process the reputation for success that it deserves.

"A short quiz: If you plan to eat hamburgers throughout your life and are not a cattle producer, should you wish for higher or lower prices for beef? Likewise, if you are going to buy a car from time to time but are not an auto manufacturer, should you prefer higher or lower car prices? These questions, of course, answer themselves.
But now for the final exam: If you expect to be a net saver during the next five years, should you hope for a higher or lower stock market during that period?
Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. In effect, they rejoice because prices have risen for the “hamburgers” they will soon be buying.
This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.”
-Warren Buffet in the Berkshire Hathaway Chairman’s Letter 1997

The point of TU.SILVER in particular is that we deal in silver. Once our investors buy the silver, they do not care about the future price of silver; only that they have a certain guaranteed quantity. Kind of like hamburgers.

Yes, you are absolutely right that the price of TU.SILVER has declined! This is a good thing. If TU.SILVER did not decrease in price given the recent Silver/BTC exchange rate, it would imply there was a disconnect between TU.SILVER and the price of silver. We merely performed as expected, and the decline in price now makes us look more attractive in the eyes of silver investors. It really is like Warren Buffet's hamburger analogy. "To refer to a personal taste of mine, I'm going to buy hamburgers the rest of my life. When hamburgers go down in price, we sing the 'Hallelujah Chorus' in the Buffett household. When hamburgers go up in price, we weep. For most people, it's the same with everything in life they will be buying -- except stocks. When stocks go down and you can get more for your money, people don't like them anymore."

Anyway, I appreciate your comments. We do have an investment position and I'd be interested in your thoughts on what we could invest in. Obviously I don't want to lose any money and if you have any advice on where we could invest I'd be grateful. Oddly enough the comments so far seem to be that we should invest in silver. I tend to agree. Further, doing so now falls in line with our options trading strategy on BitFunder. Thanks again for your comments Poly. Chat soon~

Hello!

I am pleased to announce we may now begin options trading against the unsold quantity of silver we stock, thanks to Ukyo and his latest development on BitFunder: options trading.

Our options trading strategy, which allows us to ensure 100% backing per share, at zero risk to investors, will be fully explained in the next Tu.SILVER report (to be released March 23rd or 24th, 2013).

A very BIG thank you to Ukyo, and to all my investors. Thanks!

There are now two cyber christs. Satoshi Nakamoto... and Ukyo 

This week's charts were courtesy of bitcoinchats.com. Here's a direct link to the chart I used to write this week's report:

http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zxzi1gMDXzi2gMFIzvzcv

Unfortunately, I'm unaware of how their feeds work, so if you needed the data in feed form you would probably have to contact their technical support department. Thanks for your comment!

Getting back to business, I'm pleased to present the TU.SILVER report for March 16th, 2013.

"The Rally is Over, Part 1: Turning the Corner" (click to view or download).


This week we're also experimenting with a forum edition at https://bitcointalk.org/index.php?topic=153621.msg1630353#msg1630353.

Happy stacking!

The TU.SILVER Report
The Rally is Over Part 1: “Turning the Corner”
March 16th, 2013


Dear Investor; it is our pleasure to present this week’s report. In this issue, past analysis comes to a head as we analyze the trade that killed the rally. But first, let’s get started with the weekly market wrap-up:

kitco.com Gold:	$1592.9
kitcosilver.com Silver:	$28.77
Mt. Gox Weighted Average:	$46.60
Gold/BTC	34.18/oz
Silver/BTC	0.6174/oz

First Impressions: Gold and silver, priced in Bitcoins, have remained essentially flat for the last two weeks. The rally is over?


THE CRASH IS OVER
Let’s begin with a simple observation. The crash is over. Silver has been flat for weeks, and the rally in BTC has ended. We can see this in the Silver/BTC chart using parallel line analysis. The 10-point trend which was in formation since February has been broken:


 
This gives us pause. Of course, this is the most interesting chart for TU.SILVER buyers, as if it’s true that we are now entering a consolidation phase it would be the time to accumulate shares. A move back to the .20’s could happen even faster than we hit .10 if both silver and BTC move against each other.
 

THE BITCOIN STORY
The 7-week chart shows a broken trend line. As explained last week we are in the middle of a speculative bubble. This is the critical moment. Will the bubble burst, or is there another leg up? In one sense, it doesn’t matter. If you just buy TU.SILVER now, you should come out ahead when the bubble bursts. On the other hand, if you are willing to risk staying in BTC, there might still be time for one more rally before the crash. Let’s take a look:



This is a Volume Analysis chart of Bitcoin since inception. There are three price spikes marked A, B, C. Each price spike has associated mass index moves marked 1, 1 and 2, or 1, 2 and 3. Finally, a line has been drawn down to the Money Flow index to show whether the volume was positive (flowing in) or negative (flowing out) at the time.

First a quick explanation of the chart and the indicators. The Mass Index was invented by Doland Dorsey. It is based on the exponential moving average. According to Dorsey, a high value indicates a “reversal bulge” and is a probable signal of trend reversal regardless of the direction of the trend. This occurs marked at the red and blue lines on the chart. Regardless of the fact that the mass index is declining, it is currently above the red line. This means the rally has not been confirmed to have ended. This important marker (the red line) will be a strong signal that the trend is over. Note that there are cases where a declining mass index has reversed above the red line, leading to new highs (such as peak A-1). Therefore investors will keep a close eye on the mass index to confirm whether or not this rally is dead, or is merely resting.

The second major indicator of volume shown here is the Money Flow Index, or MFI. This indicator shows money flow on up days as a percentage of total up and down days. This translates to price times volume, and shows how much money is going in and out of the stock on an instantaneous basis. It is therefore related to the volume analysis based on the EMA shown by mass index. How important is the MFI here? A line has been drawn from the end of each rally to the MFI chart below. One can instantly see that the MFI is a leading indicator which can signal a price crash during a speculative bubble. When the MFI declines below 80, this has been historically a clear signal that the party is over. We are currently at 60 in the money flow index. This is a very strong sign that the rally has ended and we are about to head very much lower. Of course, we caution you that no one can predict the future; but when you think about what the money flow index means, it is clear that buying has dried up in the market. With no more buyers, and no resistance to the downside, we feel there is a very large amount of negative potential energy which could be released and we would rather avoid this possibility by selling our Bitcoins and moving into a more stable asset.

However, and we cannot stress this enough; if the MFI turns positive at this time, and the mass index does not signal a reversal, this will be the mother of all rallies, and we could see a move break through $100 within days. The key is to keep an eye on the indicators and be ready to move when the signal comes. We only publish this letter once per week so this is not the kind of alert we can give you when it happens. You need to educate yourself and watch for it yourself, and make your own trading decision. All we’re doing is pointing out the obvious. We just hope this is interesting information for you.


WHAT WE’RE PLANNING TO DO
We can’t tell you how to invest because we have no professional qualifications as money managers. However, we can tell you that our plan is to sell Bitcoins for either USD or Silver (or some other tangible asset) as the MFI continues to decline. Should we see a reversal in the leading indicators discussed above, we will dump Bitcoins at whatever price we can. We expect by that time we will have all of five minutes to react before fear grips the market. We hope to avoid a 30% to 50% crash in the price this way.
We stand ready to buy back Bitcoins once we reach the next long-term trend line at a price range of $15 to $20 should we reach those prices in April and May. 


DISTRIBUTION & INVESTMENT POLICY FOR MARCH
As mentioned in last week’s report we have sold all our JAH and current figures indicate we are now in the black by about 13 Bitcoins. We also hold the 221 unsold shares representing a further ~25 Bitcoins in value. This and other factors lead us to report a Book Value of 0.1195 for March 16th, 2013.
Due to the amount of money we made trading JAH we are planning to issue a somewhat larger dividend for the month of March. We will announce a tentative plan to pay a dividend of approximately 2%. This is not normal; we don’t expect to pay more than 0.5% on any calendar month, but this month saw exceptional profit and we’d like to share that with our unitholders.
Secondly, now that we have enough money to buy silver without having to borrow money, we will begin a tentative investment program to increase the sustainability of the fund. The end goal is to be able to increase the amount of silver on a per-share basis in a sustainable fashion, without risking the underlying silver position itself. To that end we will purchase approximately 1,000 units of BTC-BOND, and approximately 1,000 units of LTC-ATF.B1. Exact amounts and figures will be available in our audited Financial Reports for March 2013. We will hold all other income for operational expenses such as payment of dividends, the purchase of silver, storage fees, etc.


BTCJAM LOAN
We have repaid the BTCjam loan secured in mtgoxUSD at a slight discount due to the rise in price of BTC. We made three payments of approximately 11.8 BTC each, and the total amount loaned was 35.8 BTC. This implies a profit of approximately 0.4 BTC despite having paid 2% interest in US dollars.


TU.SILVER: LEADING THE WAY IN BITCOIN PRECIOUS METALS
We thank our investors, and we thank rastapool. As of today, investors in TU.SILVER are granted free shipping on all redemption orders. We will review this policy on a weekly basis.



REACTION TO SILVER/BTC PRICE
Company sales of silver at cost are hereby suspended. We will be placing an order for silver soon, and aim to hold said silver until the price recovers. We will review this policy on a weekly basis.


For more information on TU.SILVER and how to protect your money in today’s crazy BTC market, please visit the TU.SILVER page on BitFunder:
https://bitfunder.com/asset/TU.SILVER

I took this to Private Message, because it made me really upset. To make a long story short, I think odolvlobo and I will be on good terms going forward. Once again to make it clear, we're a company operating a silver fund on BitFunder. Investors are assured two things: 1. Each share is guaranteed to represent 1/10th of an ounce of physical silver, redeemable on demand; and 2. we are the only silver fund which expects a positive EROI. Every other precious metals fund in the community will see your long term investment value go to zero. I guarantee it.

That is the point of TU.SILVER and I'm happy to have shared this with you all today.

No, I defined the whole purpose of the silver fund in it's contract. I know exactly what it is


Ahh, I see what you're saying now;


This is probably the root of your misunderstanding. It is quite clearly explained in our 'prospectus' (for lack of a better word) that we actually sell silver at above market price. We justify this on three grounds. One, we guarantee that you will never lose the value of the silver backing the share. In contract other funds guarantee that the amount of silver backing each share will decline to zero over time. Two, we guarantee the safety of your silver in a vault. No other fund has their silver insured in a professional vault like VIA MAT or G4S. Third, we guarantee the fastest shipping times possible by actually stocking the silver. No other coin shop in the community actually has a stock; they all drop ship. We don't do that. There is a price to be paid for this, and that price is worked into the price people buy shares at. Obviously, quite a number of people agree that it is a fair price despite your analysis.

Essentially, investors are paying a small and reasonable premium for storage fees. This is perfectly acceptable. So while I understand your contention based on the idea we're trying to be competitive on price alone, that isn't true at all. We are competitive where it counts -- on actually having your silver on-hand. The recent horror stories with "that other coin shop" not having the gold on hand then losing it/etc. or not delivering coins for 6 months can never happen with us. We also offer geographic diversity for Americans and Europeans. These are all valuable qualities our investors are clearly willing to pay for.


Nope this is just wrong, as mentioned our operating expenses for things like our financial advisor or vault storage are being held in a special address separate from the investment position or other operating.


Thanks for the advice but like I said, you can go manage your fund however you want. I've written my contract to combine the revenue/profit from the ownership of the silver, and my investors are there because of it. You're welcome to open a competing fund if you want. All I can say is that in our first month of operation we became the largest precious metals fund in the community, and as of last report we have more than twenty times the volume of all other precious metals funds in the community combined. People like what I am doing or they wouldn't invest.

I'm not sure you actually understand what is going on here, so I'll post two quotes which should clear up your confusion.


A great example of proper management representing investor's financial best interest is Berkshire-Hathaway, which started as an insurance company. What's an insurance company doing buying a media company? A soft-drink company? An underwear company? It's doing it's job.


The point of not investing into silver while we have unsold stock is to provide the ability to continually purchase silver even if we can't sell it, not blow our load and then get stuck with an inventory no-one wants. As a fellow fund manager yourself I am surprised at your lack of vision regarding the money entrusted to us by our investors. Imagine what would have happened to investors of AT&T during the great depression if all they did was buy telephones and stock them, hoping to sell them? Or if all Coca-Cola did was buy glass bottles and keep them around waiting to be filled? These great American companies stood the test of time and proved themselves to be such great investments because their management increased the sustainability of their dividend.

If you want an example of what I am talking about please see the link "List of assets owned by Disney". Here we learn Disney owns what amounts to a cellphone company, a bank, several cruise boats, and a string of apartment buildings. Disney has been known to create independent film studios to do non-"Disney" films as well, because that's where the money is. For example "Kids". Great movie. Disney movie.

In 1992, Warren Buffet said, "Leaving question of price aside, the best business to own is one that over an extended period can employ large amounts of capital at very high rates of return. The worst company to own is one that must, or will, do the opposite – that is, consistently employ ever-greater amounts of capital at very low rates of return." Well, i'm sorry if you disagree with my management style, Deprived, but I've made my decision. I'm throwing in with Warren Buffet. You're free to run your own fund on litecoinglobal.com however you wish. Good luck!

Thank you for allowing me this opportunity to correct your misunderstanding. I quote the contract:

"3. SILVER will sell covered call options and invest the cash position to generate revenue and pay for secure storage fees."
(https://btct.co/security/SILVER)

The contract clearly states that the income will be used to a) generate revenue and b) pay for the expenses of the fund. As with most companies, there is no set amount to be paid as distributions. That is one of the reasons why I am asking for shareholder's opinion. I don't need to state anything about it in the contract. The rest of the description clearly states what our objectives are in this regard. I'll quickly touch on those points as you are unfamiliar with them.

The "Executive Summary" section exists to explain "what you do and why". In "Executive Summary" under "Returns" we state:
"While most metals funds guarantee a long term loss due to storage fees and management fees, TU.SILVER expects a positive return due to our trading strategy. We expect to generate distributions of 3 to 6% per year." (https://btct.co/security/SILVER)
This satisfies what we do (our trading strategy) and why (to be the only fund with a positive EROI).

The "Business Description" section exists to inform investors with regards to our "Mission statement (business purpose), Company vision (statement about company growth), Business goals and objectives." among other things. In "Business Description" we clearly state:

"a) We sell covered calls to generate income for unit-holders.
b) We keep approximately 1/3rd of net profit for company operations, 1/3rd towards management fees, and 1/3rd for distributions.
c) Dividends will be issued at least monthly, along with a financial report prepared by an independent auditor." (https://btct.co/security/SILVER)

Finally, the "Financial Management" section exists so that investors can know, among other things, "Projected balance sheet (1 year forward), Projected income statement (1 year forward), Projected cash flow statement (12 months forward)."

In this section I clearly explain that our goal is to "...retain 1/3rd of net profit into the company's cash position, take 1/3rd as management fee, and pay 1/3rd as distribution to shareholders." (https://btct.co/security/SILVER)

The contract is clear. The Executive Summary is clear. The Business Description is clear, and the Financial Management section is clear. Therefore, your "as far as I can tell" strikes me as contentious. I'm sorry you don't agree with how I run my company, I really am. But it is not (and cannot) be the job of an LTC-GLOBAL moderator to decide whether or not it is "too risky" to run a company like this. That is the investor's decision. The fact is, I've clearly stated my business plan, I am executing on that business plan, and I am making money for the people who are invested in Tu.SILVER.


I hope your concern that investors won't benefit from reinvested income has now been alleviated! If you have any further questions please don't hesitate to ask.

If you haven't read the contract you probably think this should operate as a mining bond. That's not quite correct. Keeping it simple, management of the company (like other companies in the real world) will periodically decide how much to pay out to investors in the fund, how much to pay management (themselves), and how much to keep for the company. In this case, company money is separate from the investment position. This is represented by funds held in the TU.SILVER Kitty at [1Kitty8g4AMrU8QaLCntESmrvJNmz1QUGk]. This money will be used by the company to pay for secure storage fees and probably other expenses such as shipping once it gets large enough. Go ahead, click on the link. The money is all there. The other money (on bitfuinder, or other places, as marked in our books) is used to execute on our trading strategy and generate positive cashflow. Right now we have a lot more money than I thought we would make because of JAH. We're in the black now, and stand to leverage the price of silver should it rise.

But in a more general sense, running a motion has absolutely nothing to do with the situation being straightforward or not. Asking investors which way the fund should go means that any large financial interest which wants to buy in can be assured their financial interest will be represented. If it is not, they are free to advise me or direct the fund themselves. I can even be replaced. I'm one of the only companies around who makes that blatant. You try doing that with any other fund, no names no names, and you will see how fast your vote gets shot down one way or another. I don't even own any units of TU.SILVER. My fee is simple; 1/3rd of trading profits. The investors are even free to raise a motion to vote me out of my 1/3rd and pay it out to as a distribution if that's what they want to do. I'm sure they will if they feel I am mismanaging the company, so I am certain the investors like me and agree with how I am running the fund.

Hi guys!

With all the recent trouble with "other" coin shops I thought I would take this time to introduce you to TU.SILVER -- the only Bitcoin coin shop that actually STOCKS the coins we sell. Further, we are the largest precious metals fund in the community. We have more liquidity than all other precious metals funds combined.

Yes, we are a little more expensive than other shops. That's because we order from the other shops. So why would you order from us?

Because you know that we are not drop shipping from somewhere else, and that means you get your silver 7 days after we ship it. Maybe 10 max.

The best thing about Tu.SILVER is the geographic diversity we offer. We store our silver in Asia! That's why 90% of our customers let their silver sit in our vaults. And the best part is, we pay the storage fees -- you don't need to worry about it!

You are welcome to buy silver from us and redeem it immediately! Or let us keep it in our secure vault for you, until such time as you wish to redeem it!

Please see https://bitfunder.com/asset/TU.SILVER for more information.

TU.SILVER -- the biggest precious metals fund and the fastest shipping on silver anywhere in the community.

Reality is populated by humans, who created machines. Your delusion is true so long as you believe it.

And when someone shuts off the computer for you, you will return to reality.

Whatever is done it must be announced far ahead of time because it will cause a disconnect between G.ASICMINER and other forms of ASICMINER.

My vote would be auctioning them off at BITMIT. "now". And sending them when they get here ;-)

Psy, I realize this is a point of minor contention, but, what are the chances that the subject would be worded exactly the same -- same use of a dash, same grammatical error, etc. by two entirely different people?

I'm thinking of running a poll.

1. Reinvest the money into the business (essentially, advertise)

2. Search for acquisitions (i.e. takeover a copmany like LTC-SILVER)

3. Buy stock back (ongoing -- we just bought back 23 shares)

4. Invest in some other venture (i.e. ASICMINER, BTC-BOND, to be discussed)

5. Pay out a larger dividend

Thoughts welcome.

got it, thx