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Poll
Question: Would you participate in this fund?
Yes, please start it up - 26 (61.9%)
Yes, but please use my suggestions below - 4 (9.5%)
No, I'd like to be in control of my own investments - 7 (16.7%)
No, unless see comment below - 0 (0%)
No, I think there are better options - 3 (7.1%)
No, I wouldn't trust you guys with my empty old socks - 2 (4.8%)
Total Voters: 42

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: [BITFUNDER] ADDICTION.TRADING DISCOVERY!  (Read 36127 times)
tyrion70
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August 18, 2013, 08:05:39 PM
 #1

DISCOVERY is live on Bitfunder:

https://bitfunder.com/asset/DISCOVERY


---
Original interest check below
---

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 Smiley 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.

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tyrion70
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August 18, 2013, 08:06:02 PM
 #2

Q&A

Q: Can we be sure of your identities
A: We've had our identities verified by both John K. as well as Ukyo (Bitfunder/Weexchange). You can find John's posts here
https://bitcointalk.org/index.php?topic=238336.msg2618021#msg2618021

Q: How can we be sure this is not a big Ponzi Scheme
A: We will ask an independend trusted person to verify the holdings every so often (John K possibly?).

Q: Will you IPO only on Bitfunder?
A: For now, yes. In the future we might try a PT or seperate IPO on btct or another exchange.

Q: Will you invest only on bitfunder stocks?
A: No, we will invest on all major exchanges (Bitfunder, BTCT, Havelock and MPEX) and possibly on private investments as well (ASICMINER for example as well as promising groupbuys).

Q: Why no voting rights?
A: We are open to suggestions on voting. What would you like to vote about? And would you want to be able to call for a vote? In the latter case who would be allowed to do that (everyone even people with 0.01 btc of stock?).

Q: Can we influence what we invest on
A: We would like to give investors that possibility, maybe the answer lies in a voting structure (which by the way is currently not available on bitfunder). We are open to suggestions on how to accomplish this. We don't want to get in a situation where we have to do multiple votes per week in order to run the fund.


hasher87
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August 19, 2013, 07:20:57 AM
 #3

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?

kuriboh
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August 19, 2013, 07:21:55 AM
 #4

Watching

And I wish the best of this. sounds great and want to hear more Smiley
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August 19, 2013, 10:08:44 AM
 #5

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

♫ This situation, which side are you on? Are you getting out? Are you dropping bombs? Have you heard of diplomatic resolve? ♫ How To Run A Cheap Full Bitcoin Node For $19 A Year ♫ If I knew where it was, I would take you there. There’s much more than this. ♫ Track Your Bitcoins Value
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August 19, 2013, 10:24:23 AM
 #6

Animo Check is a Dutchism, no-one outside the Dutch speaking countries will know what that means.

Better change it to Interest Check.

tyrion70
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August 19, 2013, 10:55:33 AM
 #7

Added Q&A in post 2.

Animo Check is a Dutchism, no-one outside the Dutch speaking countries will know what that means.

Better change it to Interest Check.
Done! Thanks, I thought it sounded a bit weird Wink

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

Watching

And I wish the best of this. sounds great and want to hear more Smiley
Thanks Smiley

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?
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 Wink

Cheers

Stinky_Pete
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August 19, 2013, 11:18:59 AM
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Re: - investing in promising altcoins

Does this mean you will be mining coins of interest, or just trading on exchanges?

tyrion70
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August 19, 2013, 06:07:04 PM
 #9

Re: - investing in promising altcoins

Does this mean you will be mining coins of interest, or just trading on exchanges?
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

tyrion70
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August 21, 2013, 07:55:23 AM
 #10

Bump, anyone have anymore feedback?

Just to give u an idea, we plan to move at least part of our investments in this asset when it goes live. Currently that's around 150-200btc to start with, maybe more.


jungle_dave
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August 26, 2013, 08:12:08 PM
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Sounds really solid,
BTC investments are risky that's just the nature of the game.
Count me in when you get it up.

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August 28, 2013, 12:54:59 AM
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I'd buy some shares. It'd be nice to have someone else doing the legwork for investing a portion of my BTC.
hasher87
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August 28, 2013, 01:06:02 AM
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10btc awaits  Cool
kuriboh
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August 28, 2013, 06:22:10 AM
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when do you think in open this fund? I'm very interested in investing Wink
tyrion70
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August 28, 2013, 07:09:39 PM
 #15

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,

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August 30, 2013, 07:32:50 PM
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Interested. I'll keep an eye on this.
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September 02, 2013, 08:27:50 PM
 #17

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

Count me in!

1ANbJxTmuWoA7bm4yuUMA4MvPh2qhazMHu
In need of a BTC Miner ?
https://www.kncminer.com/?resellerid=607
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September 03, 2013, 06:22:56 AM
 #18

Would join this too
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September 04, 2013, 12:23:38 AM
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This would be very interesting to me.  Any further movement on getting this listed on BF?
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September 05, 2013, 01:06:20 AM
 #20

So far, 100% of my experiences with both BitFunder and WeExchange have been negative.

I have open support tickets (one with each site) that have been open for three weeks without even a comment.  My coin is lost, and the will not even reply to my help requests.

BitFunder and WeExchange are NOT trustworthy sites.

Please, please, find a better platform.  BitFunder is simply too amateur/rinky-dink/unprofessional to trust with our money.  Thankfully, I had you set up my KNC buy to pay directly.  If you list with bitfunder, I will sadly pass.  While I would love to work with you more, I cannot trust the sites you ask me to use, so I cannot trust your future business, either. :-(
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