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Author Topic: Silver Holdings Investment Fund (SLV)  (Read 5269 times)
SilverHoldings
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September 20, 2011, 04:40:37 AM
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Fund Sold
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Bitcoin Swami
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September 20, 2011, 04:44:18 AM
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Just wondering.  How can investors be so sure you have $16k worth of silver somewhere?  How do we know you are not a scammer? 
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September 20, 2011, 04:46:27 AM
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So if somebody buys shares, do you then go out an purchase more silver, or are you just selling ownership of the silver you already have?

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SilverHoldings
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September 20, 2011, 04:54:08 AM
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So if somebody buys shares, do you then go out an purchase more silver, or are you just selling ownership of the silver you already have?
This contract is ownership in silver that is already owned by the Investment Fund. I believe the value of the silver can be unlocked in creative ways (i.e. storefront) to maximize shareholder returns. It also provides the bitcoin community with a unique investment opportunity.
SilverHoldings
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September 21, 2011, 02:01:21 AM
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Just wondering.  How can investors be so sure you have $16k worth of silver somewhere?  How do we know you are not a scammer?  
I could provide a picture with my name written on a piece of paper next to a pile of silver.
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September 21, 2011, 02:10:36 AM
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Can you provide some more information to facilitate investors in doing reasonable due diligence? I don't see you listed here: http://companies.herokuapp.com/

Evidence of assets?
SilverHoldings
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September 21, 2011, 10:32:56 PM
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Can you provide some more information to facilitate investors in doing reasonable due diligence? I don't see you listed here: http://companies.herokuapp.com/
I have no control over the GLBSE website and hope the fund is added soon.

The GLBSE contract is available to view HERE, and I have listed the pertinent information below:
10,000 shares have been issued
The Investment Fund holds 10,000 grams of silver
The Investment Fund charges a 1% annual fee
BitcoinMint.US
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September 24, 2011, 05:02:32 PM
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PM sent.
SilverHoldings
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September 25, 2011, 12:47:40 AM
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BitcoinMint.US has reached an agreement to take control of this fund. Update coming soon.
BitcoinMint.US
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September 25, 2011, 02:24:40 PM
 #10

BitcoinMint.US has reached an agreement to take control of this fund. Update coming soon.

I have officially taken over the GLBSE/Twitter/Gmail/Bitcointalk accounts of SilverHoldings.  Investors owning shares in the old fund have been paid a per share dividend of 0.14147333BTC. In addition, they will continue holding their shares in the fund and will benefit from a mining contract that has also been purchased by the fund.  I am committed to making this fund a success and have provided the necessary information to the GLBSE in order to have this fund listed on their website.  If there are any concerns, please feel free to reach out to me.
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September 25, 2011, 02:39:24 PM
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BitcoinMint.US has reached an agreement to take control of this fund. Update coming soon.

 daily dividend that is currently yielding 12,160% annually per outstanding common share.  

Is that the european version of 12.160 %, or are you actually saying a yield of 12 160%, as in 121 times larger than the initial investment?

How will further purchase of shares affect that number? (There are currently very few outstanding shares)

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BitcoinMint.US
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September 25, 2011, 03:05:35 PM
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BitcoinMint.US has reached an agreement to take control of this fund. Update coming soon.

 daily dividend that is currently yielding 12,160% annually per outstanding common share.  

Is that the european version of 12.160 %, or are you actually saying a yield of 12 160%, as in 121 times larger than the initial investment?

How will further purchase of shares affect that number? (There are currently very few outstanding shares)

I am actually saying that you will receive a daily payout for the life of the mining contract at an annual rate of 121 times your initial investment beginning on October 1st immediately (if no other shares were purchased).  This % is based on the current number of outstanding common shares as well as the current bid price on the GLBSE as of this posting.  Future common share purchases will drastically reduce this % as it would not be sustainable otherwise.  I decided this was a good way to establish some trust in the fund as well as reward early adopters.
BitcoinMint.US
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September 25, 2011, 05:03:43 PM
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I am actually saying that you will receive a daily payout for the life of the mining contract at an annual rate of 121 times your initial investment beginning on October 1st.  This % is based on the current number of outstanding common shares as well as the current bid price on the GLBSE as of this posting.  Future common share purchases will drastically reduce this % as it would not be sustainable otherwise.  I decided this was a good way to establish some trust in the fund as well as reward early adopters.

Please note that this dividend has already decreased as a result of investor demand.  Please view the spreadsheet and use the information you have at hand for DD.

A motion has been proposed to shareholders in order to being this dividend payout immediately.
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September 26, 2011, 11:06:18 PM
 #14

I have started my own thread for this fund now that I am managing it.  Please check the below thread for current information on GLBSE:SLV.

https://bitcointalk.org/index.php?topic=45586.0
SilverHoldings
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January 10, 2016, 11:34:32 PM
 #15

I am surprised to see the fund I sold has been closed and there are no alternatives.

Is there interest in this silver exchange traded fund being relaunched?
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January 10, 2016, 11:36:19 PM
 #16

Wow, what a crazy blast from the past.

Personally I would rather own physical metals than buy an ETF.  That's just me.

.B2.















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Timelord2067
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January 11, 2016, 12:06:35 AM
 #17

Fund Sold

Why would you remove details of what was on offer?

Can anyone post a link to the original text thanks?

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January 11, 2016, 12:16:01 AM
 #18

Wow, what a crazy blast from the past.

Personally I would rather own physical metals than buy an ETF.  That's just me.

The US Govt issued 'Silver Certificates" (ie paper money with blue colouring) because they couldn't dig enough silver out of the ground quick enough...

Without having the OP to read, it sounds like they have a quantity of Silver and issue certificates in their stead.  The only problem with that is if they were to then lend the silver as part of a loan guarantee (or indeed sell it at a price peak hoping the market then goes back down).  The trouble would then be should investors want to reclaim their funds (silver) only to find the cupboard is empty.

Plenty of Banks went bust in the 1880's - 1920's through this kind of nonsense.

When ever there was a run on silver, people would go to the banks to collect silver dollars until the Govt one day said "no, you can't do that any more."  A couple of years ago, a mid west bank discovered it had $1M in silver dollars sitting in bags at the back of it's vault - the dealers who they contacted to arrange to sell to the public agreed to trickle feed them out so as not to flood the market, but you guessed it, one got itchy fingers and dumped his share.

That's not to say this trade isn't kosher mind you, just a little history lesson.

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SilverHoldings
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January 11, 2016, 12:30:43 AM
 #19

Why would you remove details of what was on offer?

Can anyone post a link to the original text thanks?
I sold the fund and it moved to a new thread. The post had no information of value the links are all broken now. The bottom line is I charged a 1% fee to hold silver for the fund. If anyone is interested I could put together a new proposal and update the original post text. I will do some research to see what would be the best way to issue such a product.

What would you like to see for features? Would you want to be able to receive delivery of silver for a certain fee? What would be a reasonable fee? What would make you feel safe investing in the fund? Could a certain amount of BTC held by a 3rd party escrow with the option to insure your investment be an option? Should the fund be based in grams to make entry cheaper or should it be in ounces? Should it be only a silver holding fund with generic holdings or should we have custom coins made and offer them for resale at a profit to purchase more silver to grow the fund?

Without having the OP to read, it sounds like they have a quantity of Silver and issue certificates in their stead.  The only problem with that is if they were to then lend the silver as part of a loan guarantee (or indeed sell it at a price peak hoping the market then goes back down).  The trouble would then be should investors want to reclaim their funds (silver) only to find the cupboard is empty.
If taking delivery of silver is an option investors want then it could certainly be made available. If that is the direction this fund is to take I would think that buyers would be better off just buying whenever they wanted from a storefront that accepted Bitcoin. Unless the fund had unique silver coins that could also be sold to provide additional income to offset the cost of having the coins made. This would be a bigger project and I would have to do a lot of running numbers to see what kind of markup for original investors this would require. I would also have to find someone to build a storefront and an exchange. I think it could be done over time. If there is demand I would be willing to give it a try and take every precaution possible to protect investors.
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January 11, 2016, 12:43:31 AM
 #20

Will have a think about your question.

Cryptogenic Bullion (CBX) https://bitcointalk.org/index.php?topic=951753.0 in the past have minted bullion bars in silver for sale to the punters.

(locked thread https://bitcointalk.org/index.php?topic=245086.msg8277142#msg8277142 )

Quote
Finite Red's post was the straw that broke the camel's back. Short and sweet: had enough.

Have donated 500 CGB to the Foundation.
If Finite by Design's silver bar turns up, I shall donate BTC to its value to the community.
Will puddle through with Cherry Farm until Christmas. Surely that's fair.

Special thanks to Elambert and PSD. And you are all always welcome here at the farmhouse.

Mark (IndiaMikeZulu), Australia

Can't find the starting post though...

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