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Author Topic: 2013-03-08 Forbes/Matonis First Bitcoin Hedge Fund Announced  (Read 3958 times)
Piper67
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March 08, 2013, 05:53:21 PM
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http://www.forbes.com/sites/jonmatonis/2013/03/08/first-bitcoin-hedge-fund-launches-from-malta/

Oh yeah!
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March 08, 2013, 06:09:01 PM
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go baby, go!
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March 08, 2013, 06:18:38 PM
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go baby, go!

+1  Cool

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March 08, 2013, 06:21:50 PM
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No USA allowed.    Shocked

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March 08, 2013, 07:05:42 PM
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No USA allowed.    Shocked

You can thank the US Financial Tyrants for that. Just one more reason to use bitcoin...

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March 08, 2013, 07:40:49 PM
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No USA allowed.    Shocked

You can thank the US Financial Tyrants for that. Just one more reason to use bitcoin...

Land of the Free!
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March 08, 2013, 07:41:29 PM
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I can just picture some Wall Street veteran hedgie reading this article and seeing all the steps needed to protect a bitcoin investment and then after looking up how Shamir's Secret Sharing scheme works thinking that maybe March 2013 would be a good month to enter retirement before it gets just too complicated.

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March 08, 2013, 08:02:21 PM
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March 08, 2013, 08:16:59 PM
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Does it explode 40s after lift-off?

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March 08, 2013, 09:14:06 PM
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Dude! this is a Saturn V. Only vehicle ever to bring us to the moon.

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March 09, 2013, 01:12:45 AM
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I can just picture some Wall Street veteran hedgie reading this article and seeing all the steps needed to protect a bitcoin investment and then after looking up how Shamir's Secret Sharing Service works thinking that maybe March 2013 would be a good month to enter retirement before it gets just too complicated.

Hahahaha man that cracked me up.  Cheesy

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March 09, 2013, 01:50:33 AM
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Let's help ukyo, MP, and burnside convince these big investors to put massive quantities of cash into the securities trading on their exchanges!

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  -David Chaum 1996

Resiliency, not efficiency, is the paramount goal of decentralised, non-state sanctioned currency -Jon Matonis 2015

Crypto is the separation of Power and State.

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"Gavin is the only committer to Bitcoin core who supports this [20MB block] proposal....the rest of us have significant concerns" -gmaxwell


If Bitcoin was fungible, CoinJoin and CT would not exist.
http://www.slideshare.net/arnuschky/monero-geneva
https://letstalkbitcoin.com/blog/post/ltb-e202-understanding-monero

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"DASH" : { HYIP - scam - InstaMined: [500k/1st hr, 2MM/1st day] - Broken Privacy - Broken Security - Broken MasternodesTrusted 3rd Parties - Stolen Name - Centralized - BusFactor=1 }

// Duffield, Moncada, & Co should GO TO JAIL for fraud.


Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices.  - Satoshi Nakamoto 2010

"Current payment systems simply can’t compete with bitcoin’s fees, security and convenience.  As a currency, no sovereign can match it.  As a payment system, no financial institution can compete with it.  As a distributed network, no government can stop it."     -Chris Horlacher

Bitcoin is the anvil upon which we shall smash the State.
Raoul Duke
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March 09, 2013, 01:53:03 AM
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Let's help ukyo, MP, and burnside convince these big investors to put massive quantities of cash into the securities trading on their exchanges!

Regulated hedge fund investing on fly-by-night illegal securities exchanges? Right...

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March 09, 2013, 02:40:26 AM
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No USA allowed.    Shocked

... but in this case Canada is allowed since it is not treated as the 51st state.

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March 09, 2013, 05:52:17 AM
 #15

Let's help ukyo, MP, and burnside convince these big investors to put massive quantities of cash into the securities trading on their exchanges!

Regulated hedge fund investing on fly-by-night illegal securities exchanges? Right...

It's only illegal when you get caught and don't pay the lawyer caste their massive due sum...

Let us act as if we are free, and expect the rest of the world to follow our example.

That is the gift of Satoshi!

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  -David Chaum 1996

Resiliency, not efficiency, is the paramount goal of decentralised, non-state sanctioned currency -Jon Matonis 2015

Crypto is the separation of Power and State.

"Monero" : { Untraceable - Anonymous - Fungible - Trustless - Adaptive Blocksize - 100% PoW & FOSS - No ASIC or Premine - Wallets - Buy Local - Podcats - Roadmap - XMR.to } -Tacotime 2015

"Hard forks cannot be controversial things" -Peiter Wuille
"Blocksize is an intentionally limited resource, like the 21e6 BTC limit.  Changing it degrades the surrounding economics, creating negative incentives" -Jeff Garzik.
"Gavin is the only committer to Bitcoin core who supports this [20MB block] proposal....the rest of us have significant concerns" -gmaxwell


If Bitcoin was fungible, CoinJoin and CT would not exist.
http://www.slideshare.net/arnuschky/monero-geneva
https://letstalkbitcoin.com/blog/post/ltb-e202-understanding-monero

"Bitcoin is a settlement system, by design."

"DASH" : { HYIP - scam - InstaMined: [500k/1st hr, 2MM/1st day] - Broken Privacy - Broken Security - Broken MasternodesTrusted 3rd Parties - Stolen Name - Centralized - BusFactor=1 }

// Duffield, Moncada, & Co should GO TO JAIL for fraud.


Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices.  - Satoshi Nakamoto 2010

"Current payment systems simply can’t compete with bitcoin’s fees, security and convenience.  As a currency, no sovereign can match it.  As a payment system, no financial institution can compete with it.  As a distributed network, no government can stop it."     -Chris Horlacher

Bitcoin is the anvil upon which we shall smash the State.
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March 09, 2013, 01:56:54 PM
 #16

I can just picture some Wall Street veteran hedgie reading this article and seeing all the steps needed to protect a bitcoin investment and then after looking up how Shamir's Secret Sharing Service works thinking that maybe March 2013 would be a good month to enter retirement before it gets just too complicated.

Hahahaha man that cracked me up.  Cheesy
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March 09, 2013, 02:35:44 PM
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Could somebody explain what this fund is doing in simple words? They took 2M5€ and bought Bitcoin with it? That cannot be it...
Basically IMHO they would have to act as kind of pass-trough for Bitcoin buying and selling. Any details available? When is (or did) their money gonna hit the exchange(s)?
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March 09, 2013, 02:38:36 PM
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Could somebody explain what this fund is doing in simple words? They took 2M5€ and bought Bitcoin with it? That cannot be it...
Basically IMHO they would have to act as kind of pass-trough for Bitcoin buying and selling. Any details available? When is (or did) their money gonna hit the exchange(s)?
They will act as a regulated, intuitive and safe proxy for rich investors to buy bitcoins. Bought bitcoins will be stored in a TrueCrypt container.
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March 09, 2013, 02:43:37 PM
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Could somebody explain what this fund is doing in simple words? They took 2M5€ and bought Bitcoin with it? That cannot be it...
Basically IMHO they would have to act as kind of pass-trough for Bitcoin buying and selling. Any details available? When is (or did) their money gonna hit the exchange(s)?
They will act as a regulated, intuitive and safe proxy for rich investors to buy bitcoins. Bought bitcoins will be stored in a TrueCrypt container.

Okay - hence the 100k$ min. That's for setting up all the secure storage things etc... What's the 3.2M then?
matonis
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March 09, 2013, 03:14:06 PM
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Could somebody explain what this fund is doing in simple words? They took 2M5€ and bought Bitcoin with it? That cannot be it...
Basically IMHO they would have to act as kind of pass-trough for Bitcoin buying and selling. Any details available? When is (or did) their money gonna hit the exchange(s)?

They have been acquiring BTC over the last 6-9 months or even earlier, but they wouldn't say their entry price. I'm fairly certain that their average is sub-$15. This is just the first time they've talked about it for a formal announcement. The $3.2 million is an estimate based on current BTC assets of 80,000 at $40:1 BTC exchange rate.

Executive Director, Bitcoin Foundation
I also cover the bitcoin economy for Forbes, American Banker, PaymentsSource, and CoinDesk.
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