[was on GLBSE] LIF.x

[avoid3d]

Peter: why did you stop uploading financial reports? where can I find the ones for november

[avoid3d]

< humour > having a baby, as in for breakfast </humour >

Congratulations

[teek]

Thanks to all the investors, LIF.CX is now the highest volume asset on the GLBSE! (Past 30 days by bitcoin volume)

A decision in being made by the LIF board of directors (LIF shareholders), and there is still a few days before the tally is set, but since the vote has been unanimous to this point I will make the change today. The question was asked about the pricing of LIF.CX shares, and they will now be priced at a steady rate of 0.5 btc per share. (Previously, the price was raised to reflect the profits earned between dividends.)

Peter, what are the plans for growth of the fund.  You mention that the shares will be priced at a steady rate of .5 BTC, I am wondering how long / what criteria the fund will use to determine when to sell new shares or not?

teek

[teek]

Damn.  I had open order to buy LIF.B, filled while I slept.  Instant 50% loss.  Do you know when financials will be posted?

[DeaDTerra]

Very sad to hear about LIF.B being cancelled especially as it was up to 0.77 xD Ohh well we all know that the risk of the company going bancrupt is a risk we take when we buy shares, but always sad that it happens. How is it going for the other shares (LIF,LIF.A, etc.)?

[teek]

LIF.B is supposed to be high risk / high reward fund right?  There is a definite need for this kind of fund..  Personally I would like to see it continue, but I think some damage is already done by the announcement..  A no dividend and bad looking financials would have propelled a correction on it's own.. At which time, Peter could have bought back shares aggressively if his end goal is to shut down the fund,   also allowing others to scoop up some shares cheaply if they still believe in the potential of the fund.. in other words, leave it up to the market.  I kind of don't understand the manual adjustments on selling new shares of LIF.A either, but then again my equities knowledge is pretty much limited to stocks..  not very much knowledge about how funds work.  My general understanding would make me think that the fund should sell at what the market would bare as this just puts more money into the pot for investments / fund growth, thus increasing the value for every holder, but I could definitely be wrong on that.  If any one has some insight ?

[teek]

@Peter  no LIF.CX dividend this week?

[vuce]

@Peter  no LIF.CX dividend this week?

And no LIF.M dividends also, apparently...

[teek]

@Peter  no LIF.CX dividend this week?

And no LIF.M dividends also, apparently...

I definitely don't want to be "that guy" spreading FUD..  but does anyone know whatsup with LIF / Peter? 

[terrytibbs]

Baby, probably.
He seems to be a serious guy, and I doubt he's pulling a runner.

Oh well, you'll just have to wait and see!

[teek]

Baby, probably.
He seems to be a serious guy, and I doubt he's pulling a runner.

Ya I generally share that same opinion... but I can't help but find it interesting dividend day came and went and nothing..  It is almost 4 days later..  things that make you go hmmmmmmmmmmm... though I hope for nothing..

[vuce]

Has anyone tried emailing him?

[teek]

@Peter  no LIF.CX dividend this week?

Sorry about the late response, I have been busy with various things the past couple days.

No LIF.CX dividend, I got clobbered in the New-Years jump, was not expecting the price to rise so quickly.

I am waiting to hear back from Shakaru about the mining situation. He has not been responding recently, and until things start moving again there will be no LIF.M dividends.

Good to see ya back!  Hope the clobbering wasn't too serious..

[Peter Lambert]

I will be making an announcement tomorrow. I suggest any orders to buy/sell any of the LIF family of stocks be removed pending the announcement.

[teek]

What about LIF.CX? 

[teek]

I'll wait for the announcement

It is basically already announced, I don't think his idea of "protecting" anyone worked out too well by making a vague, yet negative announcement.  I lost 10 BTC just in buying shares because I had bids up when he released that motion.  Unfortunately 10 btc is a drop in the bucket.. compared to the slaughter I will take on these "solid investments in bitcoin".  If you make an announcement, about a pending announcement, I think you are supposed to leave it up to imagination, ie: leave room for speculation and let natural market forces work their magic.  Announcing a negative news is forthcoming just screwed anyone who was in the market without giving them any chance at all to react and make their decision..  I mean of course rumours can slip out and things of that nature, but this is right from the horses mouth.  I am extremely disapointed.


I genuinely hope there is something I am missing here, and I have mis-understood Peters actions. 

[teflone]

I'll wait for the announcement

It is basically already announced, I don't think his idea of "protecting" anyone worked out too well by making a vague, yet negative announcement.  I lost 10 BTC just in buying shares because I had bids up when he released that motion.  Unfortunately 10 btc is a drop in the bucket.. compared to the slaughter I will take on these "solid investments in bitcoin".  If you make an announcement, about a pending announcement, I think you are supposed to leave it up to imagination, ie: leave room for speculation and let natural market forces work their magic.  Announcing a negative news is forthcoming just screwed anyone who was in the market without giving them any chance at all to react and make their decision..  I mean of course rumours can slip out and things of that nature, but this is right from the horses mouth.  I am extremely disapointed.


I genuinely hope there is something I am missing here, and I have mis-understood Peters actions. 

The announcement coupled with the LIF funds website being down is a bad situation... 

[Peter Lambert]

I will be closing the LIF assets. I have put up orders to buy back the outstanding shares of the LIF assets.

Unfortunately, we lost a bunch of money.

I have been selling off the GLBSE assets held by the fund, but it appears many of the buy offers were not real, and I was only able to recover a small amount for the assets held. Many of the GLBSE assets turned out to be scams.

[teek]

For personal reasons, I have decided to get out of the bitcoin business. I have put up orders to buy back the outstanding shares of the LIF assets.

Unfortunately, my trading strategy seems to have been flawed, we lost a bunch of money.

I have been selling off the GLBSE assets held by the fund, but it appears many of the buy offers were not real, and I was only able to recover a small amount for the assets held. Many of the GLBSE assets turned out to be scams.

Peter, if you don't give us more explanation than this, isn't it you who turned out to be the scam?

[LoupGaroux]

For personal reasons, I have decided to get out of the bitcoin business. I have put up orders to buy back the outstanding shares of the LIF assets.

Unfortunately, my trading strategy seems to have been flawed, we lost a bunch of money.

I have been selling off the GLBSE assets held by the fund, but it appears many of the buy offers were not real, and I was only able to recover a small amount for the assets held. Many of the GLBSE assets turned out to be scams.

For someone who claimed to be doing extensive research, spoke with asset owners, created and ran a blog reviewing those assets, and was the single most visible voice concerning those assets, it seems a little disingenuous to claim that they were scams. And if the "offers" that represent the vast majority of the buy orders for the LIF family of funds are your "buy back" they are not a buy back, they are an insult, and proof that this was nothing but a money grab by one hell of a slick snake oil salesman.

I am done with these two bit little pissant conmen who think the GLBSE should be their personal playground to fleece bitcoin users. I am tired of hearing this bullshit line about how tired they all are after they have raked their profits and made everything they think they can, and now it is time to flush the toilet on their pile of shit.