[Investment fund] Gamma Bitcoin Fund [Closed]

[DeaDTerra]

It's the end of yet another week and now there's only one week left until Deposit shut down and the fund upgrade period
I can report a good week of 4,957% in profit and as promised I won't take any admin fee hence everything goes to the fund!

It has been a week with some new interesting projects as well as the finishing off of some old once.
We have invested in two new and interesting projects, the first of them is the hand held Bitcoin device called Ellet, which we have given 3000$ in a loan to them for a rate of 2.7% a week (denominated in USD). This is a great deal and I feel like it helps the community and the effort of producing a great product For more info about Ellet have a look at https://bitcointalk.org/index.php?topic=85931.0
The other project we have taken part of if the Bitcoin Magazine, we have purchase 1.25% of the company for 2500$ , I think it's a great company with huge potentials. They have some very good staff and have produced a lovely product, hence I think it's a great deal and it will also help support the growth and mainstream acceptance of Bitcoins, perfect for the fund .

The third project of this week has been Rebate, I have finally managed to grease the wheels enough so things started spinning, the website is now up and running at bitcoinrebate.com It's a hell of a lot of fun and I have already made 0.3 BTC in the half an hour I spent on it. It's basically a arbitrage and penny auction where you bid on discounted bitcoins. It's a gambling site, but it's a lot of fun according to my experience, quite addictive as well xD Oh well hopefully this will mean that the dividends will soon start to roll in which is great news, this is one of the reasons why this week had such a good profit. The Rebate share sprung from 0.14 to 0.23 after the announcement of that Rebate was finally up and running after a long time of waiting.

Except for these three projects, we have also been selling and buying shares as usual the GLBSE bubble bursted a couple of weeks ago but it seems like the market is now recovering and is on it's way up which is great news, I can see a general trend of increase in share prices

Here's some stats for you guys:
Current Capital: 14012.642 BTC
Current amount of investors: 97 Investors
Percentage of Profit since the start of the fund in April: 25.7% (compound interest since fund start)
Average profit per week: 2.76%
Average profit per month: 11.04%

Another good news is that I got around to asking Kluge if he could confirm my ID, which he has done on this thread He will keep my ID document and release them in case I run away with the funds money etc.
If there's any questions or concerns please do ask.
//DeaDTerra

[jimbobway]

We have invested in two new and interesting projects, the first of them is the hand held Bitcoin device called Ellet, which we have given 3000$ in a loan to them for a rate of 2.7% a week (denominated in USD). This is a great deal and I feel like it helps the community and the effort of producing a great product For more info about Ellet have a look at https://bitcointalk.org/index.php?topic=85931.0
The other project we have taken part of if the Bitcoin Magazine, we have purchase 1.25% of the company for 2500$ , I think it's a great company with huge potentials. They have some very good staff and have produced a lovely product, hence I think it's a great deal and it will also help support the growth and mainstream acceptance of Bitcoins, perfect for the fund .
If there's any questions or concerns please do ask.
//DeaDTerra

1.) Did Matt specify a time-frame on when he was going to repay the $3000 loan back?

2.) So now that GBF owns 1.25% of Bitcoin Magazine, is this in GLBSE?  Is there a dividend of some sort?  If you wanted to liquidate your shares could you?

Thanks.

[DeaDTerra]

We have invested in two new and interesting projects, the first of them is the hand held Bitcoin device called Ellet, which we have given 3000$ in a loan to them for a rate of 2.7% a week (denominated in USD). This is a great deal and I feel like it helps the community and the effort of producing a great product For more info about Ellet have a look at https://bitcointalk.org/index.php?topic=85931.0
The other project we have taken part of if the Bitcoin Magazine, we have purchase 1.25% of the company for 2500$ , I think it's a great company with huge potentials. They have some very good staff and have produced a lovely product, hence I think it's a great deal and it will also help support the growth and mainstream acceptance of Bitcoins, perfect for the fund .
If there's any questions or concerns please do ask.
//DeaDTerra

1.) Did Matt specify a time-frame on when he was going to repay the $3000 loan back?

2.) So now that GBF owns 1.25% of Bitcoin Magazine, is this in GLBSE?  Is there a dividend of some sort?  If you wanted to liquidate your shares could you?

Thanks.

1.) Matt ensure me that it would be paid back within a maximum of 9 Months, We structured it as a private loan and not as a purchase of shares. To make it more safe to us, so it's a private loan to matt with a maximum payback time of 9 months, ensure by Matthew.
2.) They will be paying dividends, but this will be done after the current expansion and fund raising. I could liquidate the shares but it would have to go through the board members to get accepted. It would basically be a share transfer but with money involved. I see it as a long term investment, for the dividends and the share price increase
Thank you for your questions, hope my answers answered your questions
//DeaDTerra

[DeaDTerra]

This is the last chance to deposit in Gamma Bitcoin Fund, for a while.
If you wish to deposit or open a new account please email or PM me you have until the end of the day to do so
//DeaDTerra

[OneEyed]

Because of Mt.Gox currently holding on my incoming SEPA transfer for 10 days now, I won't be able to increase my participation to your fund.

I'm really happy with the diversification and the reduced pirate exposure that went on this week.

[BTCurious]

Because of Mt.Gox currently holding on my incoming SEPA transfer for 10 days now, I won't be able to increase my participation to your fund.

I'm really happy with the diversification and the reduced pirate exposure that went on this week.

If you have any reputation you can temporarily borrow the coins.

[vokain]

subjecting borrowed coins to risk? doesn't seem worth it. but then again, this will be the last time to invest for awhile I suppose!

[OneEyed]

If you have any reputation you can temporarily borrow the coins.

I don't. And I understand why I wouldn't get a reasonably priced loan without it. Which is why I didn't even try

Given how lengthy this is to convert fiat into btc, I undestand the need for having some BTC piled up into an offline account for when you need them. Right now, the fastest for me (starting with EUR) have been bitmarket.eu and bitcoin-central.com, although their EUR/BTC price is higher than on Mt.Gox. I'm also currently evaluating bitcoin-24.com, SEPA transfer has been done today and should arrive on Monday (next business day).

Fortunately, I could get some BTC into the GBF last week, and I'm eager to see how it performs.

[vokain]

I heard Intersango was a good option for you guys

[DeaDTerra]

I can make an exception to the rule, PM with the info and we will work something out. The shut down of deposits is not a absolute thing, it's more for me to direct my attention to upgrading and improving for a couple of weeks rather then paperwork, but as I said it's not set in stone.
//DeaDTerra

[Newar]

... SEPA transfer ...

Plenty of SEPA offers on BTC OTC. Although, yeah, the weekend....

[BTCurious]

Given how lengthy this is to convert fiat into btc, I undestand the need for having some BTC piled up into an offline account for when you need them. Right now, the fastest for me (starting with EUR) have been bitmarket.eu and bitcoin-central.com, although their EUR/BTC price is higher than on Mt.Gox. I'm also currently evaluating bitcoin-24.com, SEPA transfer has been done today and should arrive on Monday (next business day).

In my experience bitcoin-central isn't very fast, but decently reliable. At bitmarket.eu you'll have to be lucky with the seller. If you had mentioned it 2 days earlier I could've told you which offer was mine (the Dutch one) and I could have insured speedy delivery (SEPA = max 2 days, so you'd have had the coins today). Mtgox is Slow, very slow. Anyway, none of that really matters now I guess. Good you managed to get some in last week

[OneEyed]

In my experience bitcoin-central isn't very fast, but decently reliable. At bitmarket.eu you'll have to be lucky with the seller. If you had mentioned it 2 days earlier I could've told you which offer was mine (the Dutch one) and I could have insured speedy delivery (SEPA = max 2 days, so you'd have had the coins today). Mtgox is Slow, very slow. Anyway, none of that really matters now I guess. Good you managed to get some in last week

Mmm, if you sold 55€ on Jul. 3, then I was the buyer. I did three buys from bitmarket.eu, and all of them cleared in two days max.

Note that bitcoin-central just updated their fees page a few hours ago: now, a SEPA transfer from them is correctly listed at a 0,99€ flat fee, instead of the previously stated 15,00€ fee.

[BTCurious]

In my experience bitcoin-central isn't very fast, but decently reliable. At bitmarket.eu you'll have to be lucky with the seller. If you had mentioned it 2 days earlier I could've told you which offer was mine (the Dutch one) and I could have insured speedy delivery (SEPA = max 2 days, so you'd have had the coins today). Mtgox is Slow, very slow. Anyway, none of that really matters now I guess. Good you managed to get some in last week

Mmm, if you sold 55€ on Jul. 3, then I was the buyer. I did three buys from bitmarket.eu, and all of them cleared in two days max.

Note that bitcoin-central just updated their fees page a few hours ago: now, a SEPA transfer from them is correctly listed at a 0,99€ flat fee, instead of the previously stated 15,00€ fee.

Doesn't look like it. Too bad, otherwise I could've given you an otc rating
About Bitcoin-central: Oh right, that was actually instated a week ago or so, but they only just got around to updating their page. They have a French bank account now. Also note that the withdrawal limits are severely limiting now, unless you supply ID and such.

Now, let's stop derailing the GBF thread

[DeaDTerra]

 Hey guys, I am going through some private stuff at this moment, so I am not in shape to write the weekly report, so I will delay it until tomorrow, same with the profit pay out. Really sorry guys.
I will fix it asap tomorrow morning, thank you for your patience.
//DeaDTerra

[ADgordo]

Hey guys, I am going through some private stuff at this moment, so I am not in shape to write the weekly report, so I will delay it until tomorrow, same with the profit pay out. Really sorry guys.
I will fix it asap tomorrow morning, thank you for your patience.
//DeaDTerra

Hope everything goes well; be there for your family and friends.

[DeaDTerra]

Hey guys, I am going through some private stuff at this moment, so I am not in shape to write the weekly report, so I will delay it until tomorrow, same with the profit pay out. Really sorry guys.
I will fix it asap tomorrow morning, thank you for your patience.
//DeaDTerra

Hope everything goes well; be there for your family and friends.

It's nothing too serious, I just feel like it's better to fix the stuff tomorrow so there's no error and it's done to 100%
//DeaDTerra

[Bitcoin Oz]

Hey guys, I am going through some private stuff at this moment, so I am not in shape to write the weekly report, so I will delay it until tomorrow, same with the profit pay out. Really sorry guys.
I will fix it asap tomorrow morning, thank you for your patience.
//DeaDTerra

Hope you and your family are ok.

[DeaDTerra]

Hey guys, time for the weekly report!
This week we went -3.207%, this is due to that I had to start purging the portfolio earlier then I had planned, due to the new plans Pirate released, as I believe that Pirate is a higher risk investment now then it was a couple of weeks ago. The changes made suggest either the end of a Ponzi  scheme or the end of a high profit company. Either way, after an in-depth analysis of the situation I decided to liquidate all our uninsured Pirate investments. While I was at it, I also started liquidating our non-upgrading ASICs mining bonds (all except Gigamining). Both of these investments might on short term be profitable but both of them will reduce in profitability as time goes on. Hence I decided to instead invest in Mining operations which upgrade their mining power with time and with GigaMining which allows us to upgrade our bond to more mining power while minimizing unnecessary exposure in an otherwise highly speculative market.

While we have liquidated most of out mining bonds, we still have some left that I am slowly selling off to make sure I don't cause a dip in the market. We are now instead investing in loans, bot trading and other GLBSE ventures. As part of the purging or our portfolio, I am trying to move capital from GLBSE to other investments to increase our the diversification of our investments and to reduce risks. As such, we have invested in the following lenders/bonds/CDs: chungenhung, VESCUDERO, ciuciu, and also made deposits with ZiggiStar, nckrazze as well as  Leandro César's Brazilian Bitcoin Investment Group (a few quick forum searches away
This should ensure guaranteed and risk free interest. As GLBSE is in a "recession" after the massive bubble crash a couple of weeks ago I think it's safer to keep some of our BTC outside of GLBSE in safer and guaranteed investments.

GigaMining released their info for the new ASICs upgrade of the bond. https://bitcointalk.org/index.php?topic=92090.0 for more info about the upgrade. It seems like GigaMining is now the only ensured safe mining bond, that will withstand the ASICs upgrade, hence the price is shooting up. It has already increased by 25%, I managed to buy 200 shares before the price increase so we now have about 750 GigaMining shares I will be upgrading them with the paid version to get 4x25 Mhash for each of the bonds, if the upgrade is as great as it sounds it should improve our Mhash count significantly.

We now have 0% uninsured pirate exposure, I have sold off all uninsured bonds and purchased YARR bonds which are fully insured by CPA I have also used these to hedge my current involvement and investment with CPA, to reduce our risks. I am also planning to increase our insured pirate bond with INAU to 1000 BTC instead of the current 500.

Some side notes, first of all I want to introduce you all to my new assistant, My friend Anthony. He will be helping me out with things like spreadsheets, accounting, announcements and such. So that I can focus more on the investments instead of the things around it . He will also be the one to contact if I am going out of town or if I am otherwise unable to be contacted. His name on the forum is Vokain, if there's anything with the spreadsheet,weekly reports or such. Then send off a message to him

I also want to clarify a thing, on the 6th and 7th (of July) the spreadsheet was manipulated and showed the wrong numbers due to a error made by me this was corrected on the 8th hence the weird pattern in the log book, hope this clarifies that matter. This is now fixed and it should not have had any influence on the profit since it was in the same week.
//DeaDTerra

[Vandroiy]

I might have been overaggressive on this fund because of BS&T exposure. Reading the portfolio, maybe I should have discriminated more between what looks like accidental exposure instead of intentional collaboration. Just to make it clear: no accusations were intended, just criticism of BS&T.

We now have 0% uninsured pirate exposure, I have sold off all uninsured bonds and purchased YARR bonds which are fully insured by CPA I have also used these to hedge my current involvement and investment with CPA, to reduce our risks. I am also planning to increase our insured pirate bond with INAU to 1000 BTC instead of the current 500.

I don't understand. You are involved from both the insuring and the playing side? If CPA defaults along with BS&T, you're getting a double-hit, how is this reducing risk?

Read my sig, I am personally involved. This is just a logic question.