[BTC-TC] IPO Details for BTC-GROWTH

[DrGregMulhauser]

UPDATE: As of around 7 pm UK time on Friday 16 August, the initial tranche of shares has been allocated. We don't plan to release further tranches immediately, although we may do so in future should shares begin to trade at a premium to the most recently published NAV. (Please see the section "Subscriptions and Redemptions" for more details.)

The initial offering for BTC Growth will kick off on Thursday 15 August at 1 pm UK time. For reference, this is 8 am in New York and 8 pm in Beijing.

https://btct.co/security/BTC-GROWTH

For more information on the new offering, please see the exchange documents available at the URL above, or stop by the discussion thread here:

https://bitcointalk.org/index.php?topic=266828.0

Based upon demand, we'll set up an initial tranche and release additional tranches over the following few days if necessary to ensure that those who would like to participate have an opportunity to do so. Note that the offering price is 0.1 BTC, and there should be no need to pay a premium to that price during the offering. (Unlike an equity offering, where there might be disagreement about the value of the underlying assets, leading to some price discovery dynamics following the offering, this offering is for a fund and therefore represents nothing more than the raising of capital.)

If there are any questions specific to the initial offering itself, please fire away; I'll likely be out of the office on Wednesday, but I'll check back into this thread both later today and on Thursday in case anything comes up. For more general feedback on the fund itself, as distinct from the offering mechanics, please visit the original thread mentioned above.

[busidelinghun]

looking forward

[Technologov]

Hello mister Greg.

I was impressed with your articles about risks and hedging, and looking forward to invest in your hedge fund -as well as- discussing investment opportunities in general.

Those articles were good:
http://psychologicalinvestor.com/lib/real-markets/asymmetric-risk-145/
and
http://psychologicalinvestor.com/lib/real-markets/economics-bitcoin-mining-131/

I share those views very much, although with a minor twist regarding bitcoin mining stocks.

Anyway:
Are you willing to disclose your positions for example, once in a month ?

What about your own money ? Will you invest it with your investors in this same fund ?

Why hedge fund, why not "public hedge company" ? In the latter, the manager is the biggest shareholder and will share the fate with us, investors.

WARNING
[User "DrGregMulhauser" was registered only in "June 23, 2013"]
mister Greg: Please put some news update on your site, psychologicalinvestor.com, so I can believe you're the same guy who wrote the articles and the one who's advertising here about new fund.

-Technologov

[DrGregMulhauser]

I was impressed with your articles about risks and hedging, and looking forward to invest in your hedge fund -as well as- discussing investment opportunities in general.

Many thanks for your support. 

...Are you willing to disclose your positions for example, once in a month ?

This is mentioned in the FAQ included on BTC-TC and also in the main discussion thread here on the forum.

[User "DrGregMulhauser" was registered only in "June 23, 2013"]
mister Greg: Please put some news update on your site, psychologicalinvestor.com, so I can believe you're the same guy who wrote the articles and the one who's advertising here about new fund.

This is also mentioned in the FAQ, and my identity has been verified by one of the exchange moderators; her note to the effect is included at the very top of the listing documents provided on BTC-TC.

For more general discussion, as distinct from questions regarding the mechanics of the initial offering on Thursday, please drop by the main discussion thread.

[DrGregMulhauser]

looking forward

Many thanks for your support; it won't be long now. 

[Technologov]

You'll have a drop a note on your website, http://psychologicalinvestor.com/ so people can believe it is really you.
You're account in this forum is too new, and lacks trust for an IPO. (which would put on hold my investment plan)

[DrGregMulhauser]

You'll have a drop a note on your website, http://psychologicalinvestor.com/ so people can believe it is really you.
You're account in this forum is too new, and lacks trust for an IPO. (which would put on hold my investment plan)

Please read the FAQ: I have no intention of attempting to prove anything to anybody except for demonstrating my identity to forum admins or exchange moderators on request, which I have already done.

If you do not trust the exchange moderator who verified my identity, then you should not participate in the fund.

[arnoldsz]

how many shares do you want to sell? i only see "a minimum of 2500 shares", but what is maximun, and what's the plan?. i know you must have explained in your documents, but can you simply give a direct clear answer? thank you

[Technologov]

1. The user "Dr Greg Mulhauser" is confirmed to be the real one, the operator of the site.
1.a "If you do not trust the exchange moderator"...
Of course I do not trust. Why should I ?
2. I prefer "hedge company" vs. "hedge fund", so that the manager invests his own money with us, small investors
The reason is: risk sharing. The "boss" aka "manager" aka "general partner" should risk his own ass (personal equity).
3. Fees: 2%(base)+20% (from profits) is way too high IMO. I guess I would skip this opportunity.

I guess (much) lower fees and the fact that the manager puts his own money down on the table will push me to invest.
(This is the reason I never invest in any type of funds to begin with... only in stock companies, except if required by law, such as pension fund)

[alexius89]

Fees: 2%(base)+20% (from profits) is way too high IMO.

definitely!

[DrGregMulhauser]

For folks who didn't notice, please be aware there is a separate discussion thread for general questions or comments about the fund. This thread is intended to be solely for information about the mechanics of Thursday 15 August.

There is also a detailed listing document on the exchange itself; if you have a question or a comment to make, please be considerate to other users and read the document first to see if your question is answered there or to see if your comment coheres with the facts of how the fund is organised.

Last but not least, as I mentioned earlier, I will be out of the office today.

[stslimited]

For folks who didn't notice, please be aware there is a separate discussion thread for general questions or comments about the fund. This thread is intended to be solely for information about the mechanics of Thursday 15 August.

There is also a detailed listing document on the exchange itself; if you have a question or a comment to make, please be considerate to other users and read the document first to see if your question is answered there or to see if your comment coheres with the facts of how the fund is organised.

Last but not least, as I mentioned earlier, I will be out of the office today.

what is the link to the separate discussion

[stslimited]

3. Fees: 2%(base)+20% (from profits) is way too high IMO. I guess I would skip this opportunity.

This is pretty standard in hedge fund land, but hedge funds haven't been getting this since 2007

the risk sharing model has been more attractive, where the manager only profits when the fund's positions profit

there hasn't been a single fund in bitcoin land that has demonstrated massive returns, and in the securities market, things have been too illiquid for a fund of massive size to replicate the returns of the securities there

[ArcticWolf]

For folks who didn't notice, please be aware there is a separate discussion thread for general questions or comments about the fund. This thread is intended to be solely for information about the mechanics of Thursday 15 August.

There is also a detailed listing document on the exchange itself; if you have a question or a comment to make, please be considerate to other users and read the document first to see if your question is answered there or to see if your comment coheres with the facts of how the fund is organised.

Last but not least, as I mentioned earlier, I will be out of the office today.

what is the link to the separate discussion

https://bitcointalk.org/index.php?topic=266828.0

[stslimited]

so we doing this? it is 1pm UK now, lets go! unlock it

[ArcticWolf]

so we doing this? it is 1pm UK now, lets go! unlock it

You posted that just as I was watching the sales happen lol

[DrGregMulhauser]

We're now underway! 

Many thanks to all those who have already begun participating; somewhere around 4500 shares have traded hands within the first 5 minutes.

[KCBitcoin]

almost half sold in the first half hour. woah.

[xchrisxsays]

We're now underway! 

Many thanks to all those who have already begun participating; somewhere around 4500 shares have traded hands within the first 5 minutes.

Had my order in yesterday. I just wish I had more bitcoin to invest at the moment, I'm extremely impressed with this fund and I am excited for the future. Good luck, Dr. Mulhauser!

[str4wm4n]

Will the tranches released after the IPO be at .1 btc or higher?