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Author Topic: [GLBSE] Flying Dutchman Bitcoin Fund - Completely Transparent  (Read 22127 times)
paladon
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August 13, 2012, 09:57:01 PM
 #1

PsychoticBoy and Paladon
introducing:

Flying Dutchman Bitcoin Fund


Introduction
Flying Dutchman Bitcoin Fund (FDBF) is a Bitcoin-based investment fund with the highest possible yield against a moderate risk profile.

What is Flying Dutchman Bitcoin Fund?
We are a GLBSE-listed company which will focus to find the best yield on Bitcoin investments. We do this by spreading among different Bitcoin markets and companies.  We will make a solid analysis before making any investment. In that way we try to reduce risk for you investors.

What kind of investments will Flying Duchman Bitcoin Fund do?
- investing in companies and bonds on GLBSE
- investing in Bitcoin-related projects and companies (possible Bitcoin startups)
- Automated margin and arbitrage trading
- Short term, low and high risk, interest loans

How will Flying Dutchman Bitcoin Fund be operated?
The FDBF will be operated by PsychoticBoy and Paladon. A good mixture of experience in Bitcoin-related skills and other very necessary skills like economics, technology and finance. By having a dual-head operator we also reduce risk for our investors. FDBF will be a stock, not a bond. Which means that:
- you can vote if you are one of the shareholders.
- you actually own your portion of the net asset value.
- you can give us public or private suggestions, which will possibly be accepted and turned into motions.

How many shares will be created?
100,000 shares will be created. Each share has an nominal value of 0.15 BTC. In the pre-IPO phase the shares have been offered for 0.14 BTC (0-99 shares) or 0.13 BTC (100 or more shares). More shares may be created and sold in the future, but only after a motion with 51% of the votes or more to agree. It is possible for FDBF to buy back the share at any time at a price equal to 1.05 times the highest price the asset was traded on GLBSE over the prior 15 days.

What is your dividend pay out policy?
From the very first start we will pay out dividends of the FDBF profit. The profit will include all dividends we receive, interest received minus the costs of operation. All income, costs and therefore calculation of the profit will be visible by our public spreadsheet.
- 70% of the profits will be paid to shareholders each Sunday.
- 30% will be used by investing in more assets.
Instead of receiving a management fee, we will receive 10 shares for every 100 shares sold.

What are the risks by investing in Flying Dutchman Bitcoin Fund?
We will do our utmost best to generate the highest possible yield for our investors at a moderate risk profile. But no matter how careful we are, investing always has a risk. We do see the following risks:
-  we cannot totally exclude the possibility that the assets we buy are issued by a scammer
-  the assets we buy may not be as profitable as we think
-  our evaluation of the value of assets bought may be wrong
-  the borrowers may not be able to pay our Bitcoins back.
-  the price of Bitcoin drops dramatically
-  the effect of the ASIC hardware and the effect of the reward split will not have the impact we forsee
To be very clear:
-  we can not guarantee profit and I will not take responsibility if you lose money investing in FDBF, invest on your own risk.
-  we do not take responsibility for any loses that investors potentially could take by investing in FDBF
But we guarantee:
That we  will always do our utmost best to generate the highest yield possible at a moderate risk profile.

What can I expect from Flying Dutchman Bitcoin Fund?
You can expect that we will try to generate the highest possible yield against a moderate risk profile. Besides we will try to let our Fund grow, so that you as share-holder see your investment grow too. Because we will manage the fund, you will simply safe time too.

How can I trust PsychoticBoy and Paladon?
We are both active members of the Dutch Bitcoin community at bitcointalk.org.

PsychoticBoy has been active for some time in the Bitcoin community. He is moderator/staff member on bitcointalk.org. Asset holder of ABM and traded a lot with only positive remarks. He is also ID verified at mt.gox and GLBSE. His OTC rating is only positive. PsychoticBoy has a lot of experience in Bitcoin trading, trading on GLBSE, mining of Bitcoins since 2010.

Paladon is relative new in the Bitcoin community. He is asset holder of PGM and traded only with positive remarks. He is also ID verified at mt.gox and GLBSE. His OTC rating is only positive. Paladon has a lot of experience in real life stock trading, economics and finance.

What information are you willing to make public?
We will make a public spreadsheet  (google docs/drive) that will public show:
-  the available funds.
-  the weekly incomes, costs and profit
-  the calculation of the weekly dividend
-  the assets we hold, including their initial price, the number, and their dividends paid
-  the loans we make, including the volume, the interest rate, and the repayment date
-  the shares paid to the management of the fund
-  the results of motions

In what kind of circumstances a motion will be raised?
- before the creation of new shares
- when changing the contract on GLBSE (for instance changing the ratio of profits as dividends)

What will happen when FDBF ceases to exist?
Under very unfortunate conditions it might be possible that FDBF must be liquidated. We will collect all debts and sell all assets we hold, then use the Bitcoins we make in this process as the total price to buy all the shares back.

Any more questions?
First we will answer all possible questions and complete this document as our contract with our investors. After that we will announce the pre-IPO phase and we will register with GLBSE. After that FDBF will be live!


Kind regards,

PsychoticBoy and Paladon

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PsychoticBoy
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August 13, 2012, 09:57:18 PM
 #2

Confirmed
paladon
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August 13, 2012, 09:57:55 PM
 #3

FAQ

Q:
What is the link to your public spreadsheet?
A:
Check https://docs.google.com/spreadsheet/pub?key=0AkzS_thDsmwudHVKcFdMRXg5cjY3eklqNmxHeGlIeXc&single=true&gid=0&output=html (beta-version)

PsychoticBoy
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August 13, 2012, 09:58:55 PM
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reserved
OneEyed
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August 13, 2012, 10:24:03 PM
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Any idea of what could be your level of pirateat40 and GLBSE exposure?

paladon
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August 13, 2012, 10:42:09 PM
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Any idea of what could be your level of pirateat40 and GLBSE exposure?

At the start we mainly focus on GLBSE assets. In time we will accept a maximum of 15% high risk assets like pirate.

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August 14, 2012, 12:15:32 AM
 #7

Interesting.

The founders' shares should probably be (and remain) non-voting.

Looking forward to getting in on the ground floor.
paladon
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August 15, 2012, 07:11:34 PM
 #8

ANNOUNCEMENT:

Our pre-IPO fase has been started. All investors who like to pre-order there shares can pm me or PsychoticBoy. The pre-IPO fase will last till the end of next week (25/26 august).

In the meantime we will issue the IPO at GLBSE and we will let the account be verified by nefario before we will start.




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August 15, 2012, 07:38:17 PM
 #9

First we will answer all possible questions and complete this document as our contract with our investors. After that we will announce the pre-IPO fase and we will register with GLBSE. After that FDBF will be live!

Our pre-IPO fase has been started. All investors who like to pre-order there shares can pm me of PsychoticBoy. The pre-IPO fase will last till the end of next week (25/26 august).

In the meantime we will issue the IPO at GLBSE and we will let the account be verified by nefario before we will start.

Wow, that was fast, 48 hours to answer all possible questions? Smiley

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August 15, 2012, 07:48:02 PM
 #10

Wow, that was fast, 48 hours to answer all possible questions? Smiley

We will be happy to answer all questions that you or anybody else still might have.

In the mean time, this is your chance to get your pre-IPO shares  Cheesy


Greetz
paladon
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August 19, 2012, 10:51:42 PM
 #11

pre-IPO update:

20 August 2012 -  1340 shares sold

PsychoticBoy
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August 20, 2012, 05:47:38 PM
 #12

Dear investors,

The release date of Flying Dutchman Bitcoin Fund is scheduled on August 26th 12:00 GLBSE time.

Ticker of the asset is FDBF.
https://glbse.com/asset/view/FDBF

Till the release on GLBSE, you still have the chance to order your pre-IPO shares.
In the pre-IPO phase the shares will be offered for 0.14 BTC (0-99 shares) or 0.13 BTC (100 or more shares).
PM me or paladon to order your pre-IPO shares.



Greetz
paladon
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August 22, 2012, 08:57:58 AM
 #13

pre-IPO update:

22 August 2012 -  ~1540 shares sold

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August 23, 2012, 08:32:53 AM
 #14

This looks interesting and I want to invest. I've sent a PM, PsychoticBoy please check.

paladon
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August 23, 2012, 09:08:15 AM
 #15

pre-IPO shares sold:

23 August 2012 -  ~2550 shares sold

paladon
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August 25, 2012, 09:19:41 AM
 #16

Dear investors,

Only 1 day left till the release of Flying Dutchman Bitcoin Fund (August 26th 12:00 GLBSE time).

Ticker of the asset is FDBF.
https://glbse.com/asset/view/FDBF

As you see we are already verified by nefario at GLBSE.

Till the release on GLBSE, you still have the chance to order your pre-IPO shares.
In the pre-IPO phase the shares will be offered for 0.14 BTC (0-99 shares) or 0.13 BTC (100 or more shares).
PM me or PsychoticBoy to order your pre-IPO shares.
You can also transfer de price of your order before 26th August 12.00 GLBSE time to:   flyingdutch:FDBF    (through GLBSE) and pm us that you paid the amount.

We also accept bids for the pre-IPO price (only 100 or more shares) that are booked in GLBSE before launch was made (August 26th 12:00 GLBSE time).


Regards,
Paladon & PsychoticBoy


ps We understand that some of you who pre-ordered shares have difficulties to release fund in current days. Under special circumstances we will grant a 1 week delay. PM us for details.

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August 26, 2012, 05:11:52 PM
 #17

Today FDBF has been launched!

Pre-IPO ~2900 shares sold.

Thank you for the confidence. We are working to make Flying Dutchman Bitcoin Fund a success!


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August 27, 2012, 06:56:52 PM
 #18

Today FDBF has been launched!

Pre-IPO ~2900 shares sold.

Thank you for the confidence. We are working to make Flying Dutchman Bitcoin Fund a success!



Congrats. I saw my shares going to my glbse portfolio. All the best in making more money.

LoweryCBS
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August 27, 2012, 07:03:24 PM
 #19


What information are you willing to make public?
We will make a public spreadsheet  (google docs/drive) that will public show:
-  the available funds.
-  the weekly incomes, costs and profit
-  the calculation of the weekly dividend
-  the assets we hold, including their initial price, the number, and their dividends paid
-  the loans we make, including the volume, the interest rate, and the repayment date
-  the shares paid to the management of the fund
-  the results of motions


Please post a link to the spreadsheet, thanks!
paladon
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August 27, 2012, 07:30:50 PM
 #20

Please post a link to the spreadsheet, thanks!

As promised we will. The spreadsheet is under construction, I will post the link today for the first (beta) version. Please let us know your comments about the spreadsheet.

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