[CryptoStocks][Bitcoin Arbitrage Fund]Fund was closed, we bought back all shares

[brontellt]

If there is any other info available Id also be interested.

[Coin.Karma]

If you guys are doing arbitrage, please keep two things in mind.

1. Like Mageant said, either have a setup for simultaneous trading, ie spare capital

2. Or your fund should be in FIAT and dividends paid out in BTC, based on dividend date BTC value, otherwise the fluctuation in prices will kill ya.

cheers

[pascal257]

Its arbitrage if you do two separate trades simultaneously like buying a car from one guy and immediately selling it to another one. If you want to do arbitrage with currencies, you will need funds in both currencies to do simultaneous trades. What you did was risky and failed.

[twentyseventy]

Its arbitrage if you do two separate trades simultaneously like buying a car from one guy and immediately selling it to another one. If you want to do arbitrage with currencies, you will need funds in both currencies to do simultaneous trades. What you did was risky and failed.

One round of arbitrage and they've already failed? How so?

[Eric.DarkSpirit]

If you guys are doing arbitrage, please keep two things in mind.

1. Like Mageant said, either have a setup for simultaneous trading, ie spare capital

2. Or your fund should be in FIAT and dividends paid out in BTC, based on dividend date BTC value, otherwise the fluctuation in prices will kill ya.

cheers

Yeah, you are right, now we encounter a big problem.

We can't buy back the amount we sold.

If there is no chance to buy back, the fund will be closed.

[Eric.DarkSpirit]

Its arbitrage if you do two separate trades simultaneously like buying a car from one guy and immediately selling it to another one. If you want to do arbitrage with currencies, you will need funds in both currencies to do simultaneous trades. What you did was risky and failed.

We thought of buying and selling BTC at once, but there is still one step to transfer a half fund in USD to exchange with low price.

If the price go up during the transferring time, we will encounter the same problem as what we met now.

BTC => RMB => USD => BTC, the last step is the most dangeous.

RMB => USD => BTC => RMB, this is which we did before,  it is easy to operate because the two steps USD => BTC => RMB can be finished during one or two hours.

[Eric.DarkSpirit]

BAF trade stopped,  we bought back all shares at price 0.01 BTC.

Because the price of BTC going up too fast, we can't buy back the original amount, so we decided to close the fund earlier.

As a shareowner, the most important thing, they hope the OP may take good care of their assets and not to encounter any scram.

We are also shareowners, we lost 35 BTCs on several shares such as Labcoin, SAI, CPTM, so we know that feelings.

We are sorry we can't make more money for our shareowners, however, we will keep our promise to take care of shareowners' assets.

So, if you are shareowners of BAF, please notice this thread or BAF announcement on Cryptostocks during the following three days.

Though we lost some BTCs, it is OK, many people trust us and help us a lot.

We are in charge of a little private artraging fund, which is from RMB => USD => BTC => RMB, it is easy to operate.

And we are also planning another project, which is really a good idea, so we will be back a couple months later.

Thanks to all shareowners, thanks to everyone who trust us and help us.

BYE

[nwfella]

BAF trade stopped,  we bought back all shares at price 0.01 BTC.

Because the price of BTC going up too fast, we can't buy back the original amount, so we decided to close the fund earlier.

As a shareowner, the most important thing, they hope the OP may take good care of their assets and not to encounter any scram.

We are also shareowners, we lost 35 BTCs on several shares such as Labcoin, SAI, CPTM, so we know that feelings.

We are sorry we can't make more money for our shareowners, however, we will keep our promise to take care of shareowners' assets.

So, if you are shareowners of BAF, please notice this thread or BAF announcement on Cryptostocks during the following three days.

Though we lost some BTCs, it is OK, many people trust us and help us a lot.

We are in charge of a little private artraging fund, which is from RMB => USD => BTC => RMB, it is easy to operate.

And we are also planning another project, which is really a good idea, so we will be back a couple months later.

Thanks to all shareowners, thanks to everyone who trust us and help us.

BYE

Too bad this didn't end up panning out. +1 on the buyback as promised however. Gains a certain degree of trust in my book for following through with that at least.

[jonsi]

I don't want to be that guy that says: I told you, but...

I think this is a good ideea, and i would invest in it, but the business plan is wrong.
 "(4) The price goes down fast, we may lose some money. "
This is not how arbitrage it's done. This risk should not exist. You don't have to wait for the funds to transfer between accounts. You must have funds available on bouth, or more exchanges and the secound you sel on one exchange you buy on another and you make a profit. Regardless on the price change, this should not affect you. And you must use the money so you do the arbitrage each day, transfer every day, not wait for the rounds.
You should substitute with:
 (4) The Bitcoin Arbitrage Fund disapears with all the investors money.
 or better make it risk number 1, because if you don't know how arbitrage is done but you start a Fund... this is really the only risk for the investors.

[DrGregMulhauser]

I don't want to be that guy that says: I told you, but...

The only surprise here is that it took almost two weeks before you were proven correct.

[ixxi]

Too bad it didn't work out, looked promising. My shares were bought back as promised.

Well done and all the best for the future.

[twentyseventy]

Good god. These challenges weren't something that you guys considered before soliciting 160BTC?

Yes, please let me know when you have that new great idea ready