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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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senbonzakura
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August 05, 2011, 10:21:34 PM |
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Excellent , nice project.
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bitstarter
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August 05, 2011, 10:28:20 PM |
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This is great! I might grab some shares of it  |
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NetTecture
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August 06, 2011, 04:48:56 AM |
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STUPID question - how the heck is that suppsoed to work?
GLBSE assets are not only very badly controlled (heck, for most you dont even know who the people are), but also very few. The fund basically has to invest in all of them, and they are illiquid on top of that.
I think the time is too early for a fund threre- we need at least 1 times the amount of assets to start, and those better start having some liquidity first.
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Nefario
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August 06, 2011, 01:27:09 PM |
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I would like to point out that Peter has not informed me of this newly created asset, nor am I personally affiliated with it in any way.
I would like to add that Peter has been an honest and active member of the bitcoin community and forums, and also on the GLBSE forums, and therefor has my full support for this project.
Nefario.
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PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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Anonymous
Guest
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August 06, 2011, 02:01:40 PM |
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Looks like an interesting project. +1 to pete.  |
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NetTecture
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August 06, 2011, 05:05:20 PM |
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STUPID question - how the heck is that suppsoed to work?
GLBSE assets are not only very badly controlled (heck, for most you dont even know who the people are), but also very few. The fund basically has to invest in all of them, and they are illiquid on top of that.
I think the time is too early for a fund threre- we need at least 1 times the amount of assets to start, and those better start having some liquidity first.
How it works: Company LIF issues shares of funds, for example Fund A. Any money invested in A is then invested into companies according to the investment goals of that particular fund; when we list a fund we will state the percentages going toward each type of investment. When those investments return a profit, that money is sent to the investors of A, with a percentage (I am thinking 5% to start?) going to the managing company. That 5% is used to pay any expenses of the company, the remainder is distributed to owners of LIF shares. We issue a large number of shares of each fund so people can continue buying into the funds, we will buy back shares according to the market price of the fund holdings, so you do not have to worry about the money being "stuck" in the fund. I agree, GLBSE assets are uncontrolled. That is one reason this is needed, we will be tracking down these companies and doing research into who they are and what they do. That way each individual does not have to do all this research themselves. Currently there are very few companies listed on the GLBSE, but the number has been growing steadily. The fund would not need to invest in all of them, but investing in a larger number does reduce the risk. The liquidity issue will improve over time, I actually hope these funds would be able to help with that. I do not think it is too early for such a fund (hence I am starting one ). I hope this will grow with the GLBSE, and in the future it will be regarded as being a consistent staple of GLBSE investment. I assume there will be other investment funds listed in the future, this will always be the oldest and most trusted. I know how funds work, but: There are no assets on GBLSE worth noting. 2-3 small companies, with pretty much zero trading / liquidity. SIN (likely one of the larger operation) still has not sold all the shares it is authorized to sell, so the upside is limited (they offer the shares for 0.75), and if you look at the order book the purchase orders are a joke IBB (Islamic Bitcoin Bank) are a nice operation, but at the end they seem to move around assets worth 50 bitcoins or so and never published a balance sheet. I mean, seirously - some dude in his dorm pretending to be a bank (legal problem already with the name) and giving out USD 50 loans makes a very bad investment vehicle for lets say an investor putting in 1000 BTC. So, at the end you are stuck with 3-4 assets to trade in that have zero liquidity, and in this scenario I fail to see any benefit of a fund. Not saying it is a crazy idea, but you are neither trustworthy / audited etc. (and you ARE An additional risk for an investor) nor is there a market to acutally invest to in a way that makes a fund worth a cent more than just distributing funds. That is my remark - I think we should rather get some non-mining-operations onto GBLSE (as in: REAL companies, registered, legal and not involved in mining) before starting to think about a fund. At the end, there is little sense in moving the same empty bottle around all the time. We shoul get GBLSE grow first with hard assets. |
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TheBitMan
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August 06, 2011, 05:05:29 PM |
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How do you buy shares?
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senbonzakura
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August 06, 2011, 05:54:53 PM |
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How do you buy shares?
from glbse.com |
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TheBitMan
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August 06, 2011, 06:04:43 PM |
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How do you buy shares?
from glbse.com But it says you can't buy them yet. |
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TheBitMan
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August 06, 2011, 06:12:51 PM |
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the asking price is 0.20 its available to buy
Can you give me a direct link? |
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Fireball
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August 06, 2011, 06:29:17 PM |
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I know how funds work, but:
I want to add that from my trading and financial experience everything what NetTecture said is true, and one can't create a fund which would help to invest into those few illiquid shares on GLBSE. A usual investor could buy those few shares himself if he would want to, there is no need to expose him/herself to an additional risk. What I also definitily want to support is that GLBSE should be more used by real companies. It's a great idea, great place and the actual stock exchange seems to be implemented seriously, not as a bunch of web scripts. |
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Nefario
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August 07, 2011, 02:46:24 AM |
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How do you buy shares?
from glbse.com But it says you can't buy them yet. I think what you mean is: How can you buy shares OF GLBSE. I will be listing GLBSE shares on the exchange later today, I'm going over the terms and conditions for the last time. Nefario. |
PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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Nefario
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August 08, 2011, 06:13:14 AM |
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I hate to say it, but this thread has slipped off the topic. (Ahem, Nefario) Perhaps the last few posts could be moved to their own thread specific to the GLBSE?
Also, Nefario, the GLBSE charts page says "Out of Coins".
Out of coins again? Thats bitcoincharts standard server error, been getting a lot of that, I'll get it sorted. Also will clear up off topic posts. Nefario. |
PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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JohnDoe
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August 09, 2011, 04:08:36 PM |
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That is my remark - I think we should rather get some non-mining-operations onto GBLSE (as in: REAL companies, registered, legal and not involved in mining) before starting to think about a fund. At the end, there is little sense in moving the same empty bottle around all the time. We shoul get GBLSE grow first with hard assets.
The fund is not required to limit itself to assets traded on GLBSE, it could buy regular assets to meet the investment objective. Btw, best of luck Peter. I hope this venture succeeds. |
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thinkingBTC
Newbie
 Offline
Activity: 16
Merit: 0
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August 11, 2011, 09:20:20 AM |
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this sounds interesting.. what kind of investigating will you be doing on the assets(glbse) you invest in?
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thinkingBTC
Newbie
Offline
Activity: 16
Merit: 0
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August 16, 2011, 04:06:22 AM |
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Hi, you've issued 10,000 shares of LIF.A. Thats about 1000BTC at around 0.1BTC a share. So you are asking for $10,000-$11,000 USD to invest in various GLBSE companies.
LIF could be a MAJOR player on GLBSE if you do this correctly. If your're just throwing money around at GLBSE assets using the same "information" we all can find on the forums/websites, then you really arn't offering much I can just do myself.
However, if you do a few basic things, I believe LIF could be LESS of a risk then trading on your own...
-Only trade shares from companies that are willing to go through YOUR investigation process. If they refuse to go through it, then you refuse to trade their assets. Remember you have $10,000 that GLBSE companies would like to have a piece of... make sure they jump through your hoops before giving it away.
-Make basic investigation info public (business email/phone/address/website/etc)
-Allow business to become "verified" if they wish. This would mean you would require Gov issued ID, bills verifying address, etc. Of course you wouldn't make this public, but could just add a "verified" text next to the company info. This could also allow for different assets based on risk. Ex, LIF.A only trades verified companies... LIF.C trades non-verified assets...LIF.F trades very risky assets.
-Publicly announce when you stop trading assets based of your investigations.... ex, you've been trading an asset for a month and find out a month later that they gave a bogus address. Don't hide investigations that may damage your image in the short run.
LIF can be a major player on GLBSE if you do this correctly... If you can show all of us that you are doing some serious research into these companies and owners, Require some basic company info before investing, and communicate often with your investors, LIF will really take off.
Once you prove these things, I will be a MAJOR buyer of your parent company LIF... Until then I wish you the best.
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NetTecture
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August 16, 2011, 09:51:50 AM |
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I fully agree with that. Still thep roblem is that there is nothing to even throw 1000 USD at at the moment, so most money will jsut site on the sidelines.
But a fund like that would provide very valuable service. The two bisest companies on GLBSE are SIN and IBB - and there is no real verified information on who they are.
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senbonzakura
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December 19, 2011, 07:22:46 PM |
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For LIF shareholders, there is a motion up, #72.
I would also like to remind any shareholders, the asset contract allows any shareholder to put forward motions. So far nobody has suggested any. I guess that means people like what I am doing?
I think is the opposite people are not bothered. I dont have LIF shares but I do have LIF.CX (as they are halal/permissible) when you put a motion concerning LIF.CX shares, you made the motion only available to LIF , so now I am considering to buy just 1 Share of LIF, to see whats in the motions, and then maybe pm you my suggestions. |
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LoupGaroux
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December 19, 2011, 08:07:36 PM |
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Thank you for the public notice. I presume that motion 71 (which was not identified) does not pertain to any of the LIF family of funds?
And thus far, with the exception of LIF.B, I do think you have been doing a good job. I would have preferred that B be maintained and folded into A without the precipitous drop in price. Although I note you had the integrity to announce it openly, unlike the litany of shady operators who close up shop, or massively change direction on a whim.
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