[Smidge.Com] - A virtual, actively managed, multi-asset digital currency fund

[Smidge]

Smidge.Com Weekly Snapshot

Quick Summary:

After quite a few weeks of observing a massive coin flow out of the system, we had to witness the closure of btct.co/LTC-GLOBAL. This was a very unfortunate event for us because of our high exposure on and in these exchanges, just like for most likely every other investor out there. We had to liquidate our LTC-GLOBAL position and have begun working on transferring the fund's shares to other exchanges, which is going smoothly. Nevertheless, the NAV took the biggest downturn ever with people losing confidence in all of the BTC/LTC securities. We will have to see if the whole community can recover from this disaster, building up stable exchanges providing trust and liquidity to the market and through this, making our business model even possible.

There is currently a lot of recovery discussion going on in the different forums. I hope burnside can and will make the sourcecode available for someone to continue the exchange in a more stable environment.

Share buybacks are currently possible for the current NAV. We will continue to try to make the best out of this situation, migrating our shares and looking for ways to profit coming out of it.

Balance Sheet:
https://docs.google.com/spreadsheet/ccc?key=0AgLGW6ARhmFLdDVyLUFPYjBHX0FIWWxXTy1Bc09uaVE&usp=sharing (Please note that the format is not final, still tweaking a few things here and there. Columns "E" and "I" are hidden for a clearer view.)

Comments:

• ASICMINER is still the operation with the most stable business model, which will most likely be one of the first securities to profit from coins flowing back into the market
• CIPHERMINE stock has been plunging along with the market, but we not sell on those prices, as the company behind it is also seeing this situation as a challenge and will come up with new ideas
• Management fee from this week has been fully reinvested, just like before

As always, I would like to thank everyone for the great support, criticism and questions that we received.

[alexius89]

Thanks for the update..

could you comment on the upcoming IPO on Bitfunder and Havelock?

Furthermore we havent seen the website online for already more than a month or sht.

[bbxx]

24 btc invested, going to get 18.000 btc
Account registered after 04.2013

ok so ~10 weeks later you offer buyback at 25% value

that is good that only 300 BTC you lost,

not 13337 BTC

good trader can take advantage of market going down

you just invested in bad things wrong way

did you put any option ?

what about valuation of labcoin scam ? why you are holding this still ? 5000 shares is little ?

7. How much you got on labcoin yesterday? Did you sold in right time?
Well done but very small commitment

Of course it is a small commitment. I don't gamble with shareholder money.

you are not posting at forum, except posts about created DCX (to excuse, compare your loses to the market)
WHY ?

if news are much worse than DCX you just hide it on the raport.

[ft73]

8th negative week in a row.

[stripykitteh]

Smidge, like bbxx said, you might want to learn something about hedging if you're going to keep this up for any length of time. Otherwise you'll just end up being a bagholder in a down market. I haven't seen you produce anything to explain how you even value the shares you do own, so it seems that your investment strategy is a complete crapshoot of hunches.

[bbxx]

Smidge, like bbxx said, you might want to learn something about hedging if you're going to keep this up for any length of time. Otherwise you'll just end up being a bagholder in a down market. I haven't seen you produce anything to explain how you even value the shares you do own, so it seems that your investment strategy is a complete crapshoot of hunches.

now he deleted his page (It's done when it's done.)
and have not posted sunday loss.

about 300 bitcoins were burned and 8 days no post from him.

what about ipo plans ? 18 000 bitcoins fund ? and 3 millions of dollars for you ?

[stripykitteh]

Smidge, like bbxx said, you might want to learn something about hedging if you're going to keep this up for any length of time. Otherwise you'll just end up being a bagholder in a down market. I haven't seen you produce anything to explain how you even value the shares you do own, so it seems that your investment strategy is a complete crapshoot of hunches.

now he deleted his page (It's done when it's done.)
and have not posted sunday loss.

about 300 bitcoins were burned and 8 days no post from him.

what about ipo plans ? 18 000 bitcoins fund ? and 3 millions of dollars for you ?

Sheesh, I hope the guy is alright.

[xaviarlol]

And another one bites the dust.

Heed my warnings next time, general public!

[Swordsoffreedom]

E-mail was sent

[Smidge]

Hi all,

As Swordsoffreedom pointed out, an E-Mail was sent out to shareholders on Sunday, which is the regular day for the Weekly Snapshot. The reason for this of course being that the forum was down.

Every shareholder is up to date on what the status is at all times. There are currently no plans for closure.

Smidge.Com Weekly Snapshot

Quick Summary:

As the center of communication of the the Bitcoin universe is currently not reachable, we are reaching out to you via E-Mail. Behind us lies another week of heavy consolidation, as the btct/LTC-Global shutdowns continue to cause a lot of uncertainity in the community. We have been working on transferring our shares to the different exchanges that will continue to operate.

We hope the forums will be up again next week, so that we can post this update at the usual place.

We are seeing stocks like ASICMINER and CIPHERMINE recovering very slowly, giving us a hint that we might have reached the low point of the current shakeup. The strongest and most trustworthy stocks like these are most likely to lead said recovery.

Balance Sheet:
https://docs.google.com/spreadsheet/ccc?key=0AgLGW6ARhmFLdDVyLUFPYjBHX0FIWWxXTy1Bc09uaVE&usp=sharing (Columns "E" and "I" are hidden for a clearer view.)

I have also added a column called "Exchange" to the sheet that lets you see where the shares are currently hosted.

Comments:

- ASICMINER is slowly coming back up, most likely leading the recovery that we are seeing on the horizon
- CIPHERMINE announced that the first three 400 GH/s BitFury miners have shipped. We expect more positive news from them soon
- We are still and at any time buying back shares for the current NAV
- Management fee from this week has been fully reinvested to help our NAV, just like the last 12 weeks

Again, I would like to thank all investors for the great support, criticism and questions that we received.

[Smidge]

now he deleted his page (It's done when it's done.)
and have not posted sunday loss.

about 300 bitcoins were burned and 8 days no post from him.

what about ipo plans ? 18 000 bitcoins fund ? and 3 millions of dollars for you ?

Hi bbxx,

Again, you did not read up on anything going on in this thread. The web page has been taken down in August already, with this thread and the E-Mails to shareholders being the only form of communication. The web page was holding mostly duplicate information which can all be found in this thread.

We have been postponing the IPO until further notice. Did you take a look at the current environment? Do you honestly think it would make sense to IPO a fund now? If you want to push for an IPO, you most certainly want to see us close down, like SDSTM. It is in the best interest of our shareholders to not rush an IPO now.

[Smidge]

Smidge.Com Weekly Snapshot

Quick Summary:

Altough the overall decline seems to be slowing, the market is still in turmoil. The situation with the exchanges is not getting better as Bitfunder is also implementing regulations. Long term, we see the market in a transition phase with traditional exchanges more or less vanishing to another model, which might be P2P exchanges, colored coins, etc.

With liquidity for the securities also being at an all time low, we are currently discussing on how to proceed with our operation. Although there are interesting approaches like the plan to buy the btct/LTC-Global code and continue the site(s) (https://forum.litecoin.net/index.php/topic,6156.msg47384.html), we are discussing every possibility. An update on this will be given shortly.

Shares can be bought back anytime, as always.

Balance Sheet:
https://docs.google.com/spreadsheet/ccc?key=0AgLGW6ARhmFLdDVyLUFPYjBHX0FIWWxXTy1Bc09uaVE&usp=sharing (Please note that the format is not final, still tweaking a few things here and there. Columns "E" and "I" are hidden for a clearer view.)

Comments:

• ASICMINER is still the operation with the most stable business model, which will most likely be one of the first securities to profit from coins flowing back into the market
• CIPHERMINE stock will hopefully surface on some exchange soon or move to a direct share model
• Management fee from this week has been fully reinvested to help our NAV, just like the last 13 weeks

As always, I would like to thank everyone for the great support, criticism and questions that we received.

[bbxx]

Terrible 10 weeks

From 0.0254 to 0.005 per share.

I think now is good time to buy, shares are cheap!

But wait...

Every week i say so...

[Vagnavs]

What is now the most risky asset?

Labcoin.

Na Kenilworth
But Labcoin is the most traded on a day to day

Korb and Co. Investments Mining Fund [KCIM]!

[freedomno1]

What is now the most risky asset?

Labcoin.

Na Kenilworth
But Labcoin is the most traded on a day to day

Korb and Co. Investments Mining Fund [KCIM]!

Well for the hash offered but as an operator there is and are far more risky ones out there

Edit: What Korbman said  

[Korbman]

What is now the most risky asset?

Labcoin.

Na Kenilworth
But Labcoin is the most traded on a day to day

Korb and Co. Investments Mining Fund [KCIM]!

Every asset has a certain degree of risk, but I can assure you there are far riskier assets out there than the one I operate.

[Smidge]

Smidge.Com Weekly Snapshot

Quick Summary:

At least a few buyers have been found for the likes of ASICMINER this week, but for other assets (like CIPHERMINE) it is getting hard or almost impossible to find a free market price to report on, as the market is still in turmoil. We placed these in the balance sheet with a price of 0 for now, until we see real trading activity on them. Therefore, NAV might seem lower in the balance sheet than it actually is.

With liquidity for the securities also being at an all time low, we are currently discussing on how to proceed with our operation. Although there are interesting approaches like the plan to buy the btct/LTC-Global code and continue the site(s) (https://forum.litecoin.net/index.php/topic,6156.msg47384.html), we are discussing every possibility. An update on this will be given shortly.

Shares can be bought back anytime, as always.

Balance Sheet:
https://docs.google.com/spreadsheet/ccc?key=0AgLGW6ARhmFLdDVyLUFPYjBHX0FIWWxXTy1Bc09uaVE&usp=sharing (Please note that the format is not final, still tweaking a few things here and there. Columns "E" and "I" are hidden for a clearer view.)

Comments:

• Management fee from this week has been fully reinvested to help our NAV, just like since the start of the fund

As always, I would like to thank everyone for the great support, criticism and questions that we received.

[ft73]

Nice, 88% loss for me.
I was not able to do worse by myself and i'm a pretty bad speculator.

[Smidge]

Balance Sheet (Public Version): https://docs.google.com/spreadsheet/ccc?key=0AgLGW6ARhmFLdDVyLUFPYjBHX0FIWWxXTy1Bc09uaVE&usp=sharing

[Smidge]

Balance Sheet (Public Version): https://docs.google.com/spreadsheet/ccc?key=0AgLGW6ARhmFLdDVyLUFPYjBHX0FIWWxXTy1Bc09uaVE&usp=sharing

OK, I was just joking...

Smidge.Com Weekly Snapshot

Quick Summary:

ASICMINER is currently an object of wild speculation, as investors are left in the dark about numerous questions that have been raised and things promised. Also, for some assets it is impossible to find a free market price to report. They (CIPHERMINE, BFMINES) are still displayed at a price of 0 for now, until we see trading activity on them. Therefore, NAV might seem lower in the balance sheet than it actually is.

With liquidity for the securities also being at an all time low, we are currently discussing on how to proceed with our operation. Although there are interesting approaches like the plan to buy the btct/LTC-Global code and continue the site(s) (https://forum.litecoin.net/index.php/topic,6156.msg47384.html), we are discussing every possibility. An update on this will be given shortly.

Shares can be bought back anytime, as always.

Balance Sheet:
https://docs.google.com/spreadsheet/ccc?key=0AgLGW6ARhmFLdDVyLUFPYjBHX0FIWWxXTy1Bc09uaVE&usp=sharing (Please note that the format is not final, still tweaking a few things here and there. Columns "E" and "I" are hidden for a clearer view.)

Comments:

• Management fee from this week has been fully reinvested to help our NAV, just like since the start of the fund

As always, I would like to thank everyone for the great support, criticism and questions that we received.