DISCOVERY is live on Bitfunder:

https://bitfunder.com/asset/DISCOVERY


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Original interest check below
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This topic is an interest check for an asset we want to start.

We are BlastBob and Tyrion70. We've run 3 succesful Groupbuys on KnC Mining equipment. We've been looking around for good investment opportunities, but so far we haven't found any fund-like assets that we felt good with.

Especially the management fee was an issue for us. We don't mind paying management fee, but not if an asset does not make any profit. Two and twenty, 10% mngmt fee's etc. We feel we can provide a cheaper option especially since the risk still lies with the shareholders not the asset owner.

Also, most funds claim to invest only in low-risk investments while we don't actually think any investment in btc can be considered low-risk In this volatile BTC market you can double investments in a day and loose 50% of your investments the next day because of some bad news. New opportunities pass along every day and whilst we won't invest in all of them we've got a good track record on our own investments so far.

All in all, we discussed it with a few people and it seemed there might be an interest for us to run an investment fund. This topic is meant to see if there is enough animo to join such a fund and get suggestions and feedback before we actually start it (if we end up doing it).

Like our groupbuys we will invest in this fund ourselves because we believe the only way to run a succesful business is to invest in it yourself. We won't do that by "giving ourselves" shares, but simply by buying them ourselves when we IPO.

Below you'll find the "official" text we intend to use. We invite you to look through it and tell us:
- if you would invest in this asset
- if below text is clear or raises any questions
- suggestions and / or feedback

Thanks
BlastBob & Tyrion70

ADDICTION.TRADING

The purpose of ADDICTION.TRADING is to provide an investment fund in Bitcoin related assets. A lot of different IPO's and Groupbuys have started recently and this fund will invest in the ones most likely be succeed. This asset will not buy nor run any hardware itself. It will only invest in tradeable assets.

A maximum of 1 million shares each worth 0.01 BTC will be issued. The IPO will run for a certain amount of time (tbd) after which all not-sold shares will be removed. Shares may then be issued in smaller batches against market price as long as not all shares are sold.

4% of gross profits will be used as a management fee
21% of gross profits will be reinvested in the fund
the remaining 75% of profits will be considered net profits and payed out as dividend.

Each share gives the right to (1 / number of issued shares) of the net profits.

Dividends will be payed bi-weekly. Together with dividend payment a financial report will be published.

If during a 2-week period a loss occurs, no dividend will be payed. However a loss does not have to be earned back before paying dividend again. The reinvestment clause will ensure that in the long term the fund will keep getting worth more. Also no management fee will be withheld when a loss occurs.
We are considering using a rolling high-water mark for this, any suggestions there are welcome.

Profits are made by:
- earning dividends from assets
- daytrading stocks
- Investing in new IPO's and sell of part of the shares at a profit
- investing in promising altcoins
- low risk short-term loans with high apr

Profits will be determined based on the highest sell orders at the time of dividend payment, ensuring it's on the safe side.

Issuer will set bids at 95% of NAV to offer a certain way out if needed. The 5% difference will then profit the shareholders by increasing NAV.
Issuer can rebuy shares at market price to increase value per share
Issuer can decide to stop issuing shares, but not before 200.000 shares have been sold.
Issuer can issue new shares for slightly above market price until 1.000.000 shares have been sold.

In the event of the sale of the whole asset, profit will be split amongst asset owners.

Shares do not have voting power.

If the country where you live does not permit stock exchanges in BTC without a (local) permit you cannot buy shares in this asset.

Will we have our own input as of what to invest on the funds?

I know this IPO will be done on bitfunder, but are you going to invest some of the funds on the btct as well?

The only thing I would change is that hareholders should have the ability to vote.

Added Q&A in post 2.

Done! Thanks, I thought it sounded a bit weird

Do you have any suggestions on that? When would you want to vote? Only when issuing new shares? The no in the IPO is mainly because bitfunder does not support voting as of yet by the way. We are in no way against investors having influence on what happens with their investments but we don't want to have to vote on everything we do. That kind of beats the purpose

Thanks

Added to Q&A, yes we will invest on stocks outside bitfunder. We want to give investors influence but need good ideas on how to accomplish that. We will ofcourse always be open to suggestions on investments, don't need a voting system for that

Cheers

The latter, trading it on exchanges. Also we might invest in mining companies or groupbuys. With this asset we will not own our own hardware.

Cheers

Sounds really solid,
BTC investments are risky that's just the nature of the game.
Count me in when you get it up.

10btc awaits 

Hey all,

Thank you all so far for your kind words and positive votes! We've been in contact with Bitfunder throughout and we're hoping to be listed in the next few days..

We'll keep you posted!

Cheers and thanks,

If there are dutchies investing, im gonna go with the flow.

Count me in!

This would be very interesting to me.  Any further movement on getting this listed on BF?