SANDSTORM: - A Collective Investment Vehicle for BTC. -

[Peter Lambert]

I don't see this in the OP, maybe you said this somewhere, but what percentage of profits are sent out as dividends?

100% profits up to 1% of capital raised will go to dividends. Profits above this will be divided into a reserve "carryover fund" and further dividends. The allocation will depend on the health of the carry over fund. This carry over is a safety net for the chance of a negative week.

Then in the last week you should have had a dividend of 0.49, but you had a dividend of 1.9? Shouldn't the extra 1.41 be divided between the buffer and the dividends?

[1714632541]

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[1714632541]

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[Factory]

Release weekly dividends of at least 1% of the capital gathered from public offerings. This is a minimum expectation.

There is literally no reason to return raised capital back to shareholders in this manner- unless you want to make it appear as though the fund has some form of positive cash flow. This is the same strategy that all HYIPs abide by.

-Dividends only come from profit through the trading and investment activities. I don't know why you would think i would do this. I'd take dividends out of my own pocket before taking them out of the fund.

I am just repeating what you said. "Releasing dividends of at least 1% of the capital gathered from public offerings." You stated you are going to raise money and then you are going to release 1% of it back to shareholders each week. The language you used that I quoted makes no mention of profit, only raised capital from issuing shares.

[Peter Lambert]

Release weekly dividends of at least 1% of the capital gathered from public offerings. This is a minimum expectation.

There is literally no reason to return raised capital back to shareholders in this manner- unless you want to make it appear as though the fund has some form of positive cash flow. This is the same strategy that all HYIPs abide by.

-Dividends only come from profit through the trading and investment activities. I don't know why you would think i would do this. I'd take dividends out of my own pocket before taking them out of the fund.

I am just repeating what you said. "Releasing dividends of at least 1% of the capital gathered from public offerings." You stated you are going to raise money and then you are going to release 1% of it back to shareholders each week. The language you used that I quoted makes no mention of profit, only raised capital from issuing shares.

Obviously he is going to raise capital and then 1% of that is the target for profit, not that he is returning raised capital. So if he raises 100 btc, his target for profit is 1 btc, which profit would be given as a dividend, not that 1 of the 100 initial capital is returned. So after a week he will have ~ 1 btc profit, which he gives as dividend, leaving the 100 btc capital.

It could have been stated more clearly, but you do not have to purposely misread his words.

[Factory]

It could have been stated more clearly, but you do not have to purposely misread his words.

The obligation does not lie with the reader to interpret the contract when things are unclear or worded poorly. It sits with the issuer to be clear and concise.

Regardless- this security raises many red flags on the long list of what comprises a ponzi.

[Peter Lambert]

It could have been stated more clearly, but you do not have to purposely misread his words.

The obligation does not lie with the reader to interpret the contract when things are unclear or worded poorly. It sits with the issuer to be clear and concise.

Wait, are we considering that OP an actual contract? If it is supposed to be a security contract, the issuer should gpg sign it so we can know if it gets modified.

[Factory]

Wait, are we considering that OP an actual contract? If it is supposed to be a security contract, the issuer should gpg sign it so we can know if it gets modified.

You can view the actual contract submitted on btco.co. The language in the contract is slightly different than the OP, but much of it is still poorly defined and vague.

[Peter Lambert]

Wait, are we considering that OP an actual contract? If it is supposed to be a security contract, the issuer should gpg sign it so we can know if it gets modified.

You can view the actual contract submitted on btco.co. The language in the contract is slightly different than the OP, but much of it is still poorly defined and vague.

Why is it in "locked" instead of "awaiting approval"?

[jmutch]

Release weekly dividends of at least 1% of the capital gathered from public offerings. This is a minimum expectation.

There is literally no reason to return raised capital back to shareholders in this manner- unless you want to make it appear as though the fund has some form of positive cash flow. This is the same strategy that all HYIPs abide by.

-Dividends only come from profit through the trading and investment activities. I don't know why you would think i would do this. I'd take dividends out of my own pocket before taking them out of the fund.

I am just repeating what you said. "Releasing dividends of at least 1% of the capital gathered from public offerings." You stated you are going to raise money and then you are going to release 1% of it back to shareholders each week. The language you used that I quoted makes no mention of profit, only raised capital from issuing shares.

Thanks for picking this up. It is worded poorly, but as peter said, It's just the target for dividends. I thought this would be obvious to people. I'll have a look at different wording stating the same thing but without ambiguity.

[jmutch]

To those saying 1% a week is untenable, I have been getting at least that much on my (admittedly small) portion of my portfolio in bitcoin investments. But I have had a few negative weeks, saying you never have negative weeks sounds a bit fishy. (My USD investment portfolio has been averaging about 1% a year, stupid stock market economy grumble grumble grumble mpfh ...)

I agree. I don't understand why people are labelling this a HYIF. An average of 1% a week is not high by any means in the BTC world. Anyone that understands the different markets can easily achieve this.

I mean you can make .5% a week by simply putting your funds in a loan. You can make  .3 to 1.5% percent a week by simply putting your funds in AM shares and leaving them there.

[Peter Lambert]

To those saying 1% a week is untenable, I have been getting at least that much on my (admittedly small) portion of my portfolio in bitcoin investments. But I have had a few negative weeks, saying you never have negative weeks sounds a bit fishy. (My USD investment portfolio has been averaging about 1% a year, stupid stock market economy grumble grumble grumble mpfh ...)

I agree. I don't understand why people are labelling this a HYIF. An average of 1% a week is not high by any means in the BTC world. Anyone that understands the different markets can easily achieve this.

I mean you can make .5% a week by simply putting your funds in a loan. You can make  .3 to 1.5% percent a week by simply putting your funds in AM shares and leaving them there.

Even without compounding, this is something like 52% a year. That sounds like a High Yield Investment Fund (HYIF) to me.

[jmutch]

To those saying 1% a week is untenable, I have been getting at least that much on my (admittedly small) portion of my portfolio in bitcoin investments. But I have had a few negative weeks, saying you never have negative weeks sounds a bit fishy. (My USD investment portfolio has been averaging about 1% a year, stupid stock market economy grumble grumble grumble mpfh ...)

I agree. I don't understand why people are labelling this a HYIF. An average of 1% a week is not high by any means in the BTC world. Anyone that understands the different markets can easily achieve this.

I mean you can make .5% a week by simply putting your funds in a loan. You can make  .3 to 1.5% percent a week by simply putting your funds in AM shares and leaving them there.

Even without compounding, this is something like 52% a year. That sounds like a High Yield Investment Fund (HYIF) to me.

I can't argue with your logic, but I believe it's very achievable. This investment fund definitely isn't for everyone, but 10420 public shares have been sold to various people so at least a few people have faith in me.

I can assure you these shareholders will share the profits whatever they may be. I'm definitely not running with anyones money or creating an unsustainable investment structure ie ponzi HYIF.

[Peter Lambert]

I can assure you these shareholders will share the profits whatever they may be. I'm definitely not running with anyones money or creating an unsustainable investment structure ie ponzi HYIF.

Just so you know, this is almost directly quoted in lists of "What to watch for in a scam". Just sayin.

[jmutch]

I can assure you these shareholders will share the profits whatever they may be. I'm definitely not running with anyones money or creating an unsustainable investment structure ie ponzi HYIF.

Just so you know, this is almost directly quoted in lists of "What to watch for in a scam". Just sayin.

Haha noted. I guess it's pointless saying stuff like that.

[burnside]

Wait, are we considering that OP an actual contract? If it is supposed to be a security contract, the issuer should gpg sign it so we can know if it gets modified.

You can view the actual contract submitted on btco.co. The language in the contract is slightly different than the OP, but much of it is still poorly defined and vague.

Why is it in "locked" instead of "awaiting approval"?

Nothing nefarious.  We asked him to operate it for 3 months, producing spreadsheets, etc, before we would allow it to be put to a vote by the mods.

Cheers.

[lophie]

Is your name by any chance Ian Bakewell?

[jmutch]

Is your name by any chance Ian Bakewell?

nar sorry,

https://docs.google.com/file/d/0BxkfI_u94nYyZlRaQmFKelVWUE0/edit?usp=sharing

[alexius89]

ohh carefull in 18 days it will expire ;-)

[jmutch]

ohh carefull in 18 days it will expire ;-)

  Cheers, thanks for the reminder have to get onto that

[jmutch]

Weekly Report

It was going to be a very good week, but some news over the last 24 hours has turned it into an exceptional week for Sandstorm. It should be noted that this type of profit should far from be expected each week. Also, don’t expect a report this long each week. It’s been a busy week.

It was decided that 15BTC should be risked on exploiting the “Sunday drop”. This exposed the fund to medium risk but was rewarded. BTC/USD trading will only take place when I am extremely confident in the trades and will only be a smaller percentage of the entire fund.

Some AM-PT shares were sold after the dividends and 10 “real shares” were bought for 25BTC. Due to the demand in AM shares and the current finalisation in Jutaruls auction I’ve decided to keep sandstorm long in AM shares carrying over to next week(s). This purchase can be confirmed with canaryinthemine(escrow), kyoo or friedcat.

Investment in bASIC also looks to pay off with recent good news.

IPO status: 10420 shares have been sold to the public and I currently own 40000.  50 % reached!

Profits

1.5BTC-  my dividends from last week I said I’d carryover

Trading
1.8 Btc USD/BTC trading during the Sunday drop
.75 selling 2500 AMC shares  
.3  selling AM-PT shares  

Dividends
.03 AMC dividends
.471 BTC AM-PT dividends
.0056 bASIC dividends

Total 4.86BTC= 2BTC to dividends+2.86BTC to carryover fund

Assets:
10 ASICminer shares @ 2.5
7 ASICminer-pt shares @2.48
10 bASIC shares @.69
4 BTC

[jmutch]

60% of IPO sold