[Investment fund] Gamma Bitcoin Fund [Closed]

[DeaDTerra]

I know some of your are waiting on withdraws,
but the profit payout as well as the withdraws/deposits will wait until tomorrow. As I am to tired and the chance of me making a mistake is to big xD
 Sorry guys, but I would rather delay it then fuck something up.
//DeaDTerra

[BadBitcoin (James Sutton)]

I know some of your are waiting on withdraws,
but the profit payout as well as the withdraws/deposits will wait until tomorrow. As I am to tired and the chance of me making a mistake is to big xD
 Sorry guys, but I would rather delay it then fuck something up.
//DeaDTerra

if you want a way to automate withdrawals/dividends, I could probably write a quick php or js script to do it for you, would probably save us all some hassle.

[DeaDTerra]

I know some of your are waiting on withdraws,
but the profit payout as well as the withdraws/deposits will wait until tomorrow. As I am to tired and the chance of me making a mistake is to big xD
 Sorry guys, but I would rather delay it then fuck something up.
//DeaDTerra

if you want a way to automate withdrawals/dividends, I could probably write a quick php or js script to do it for you, would probably save us all some hassle.

The calculations still has to be made xD
That's where the real trouble is, but it will be automated soon
I have a web site developer working on it, once we get the GBF website up and going most of my manual work will be gone.
//DeaDTerra

[LoweryCBS]

I know some of your are waiting on withdraws,
but the profit payout as well as the withdraws/deposits will wait until tomorrow. As I am to tired and the chance of me making a mistake is to big xD
 Sorry guys, but I would rather delay it then fuck something up.
//DeaDTerra

if you want a way to automate withdrawals/dividends, I could probably write a quick php or js script to do it for you, would probably save us all some hassle.

Here's a quick-n-simple one you can use:

10 While(Bitcoins>0)
20 SendBitcoins(LoweryCBS)
30 EndWhile
40 Publish(WhatHappenedToAllTheBitcoins?IDon'tKnow)
50 EndGamma

[jackmaninov]

The calculations still has to be made xD
That's where the real trouble is, but it will be automated soon
I have a web site developer working on it, once we get the GBF website up and going most of my manual work will be gone.
//DeaDTerra

Any ETA on the site? Will it be replacing spreadsheet updates? Will the site be accessible by JSON or anything? I ask because I'm currently pulling my cell in the GBF Investors List spreadsheet automatically into another spreadsheet for my own calculations, and would like to be able to continue doing something like this.

[DeaDTerra]

The calculations still has to be made xD
That's where the real trouble is, but it will be automated soon
I have a web site developer working on it, once we get the GBF website up and going most of my manual work will be gone.
//DeaDTerra

Any ETA on the site? Will it be replacing spreadsheet updates? Will the site be accessible by JSON or anything? I ask because I'm currently pulling my cell in the GBF Investors List spreadsheet automatically into another spreadsheet for my own calculations, and would like to be able to continue doing something like this.

No ETA the guy that's doing it is busy but it will come along soon I guess
The spreadsheets will still be there, the website will get it's info from the spreadsheets
//DeaDTerra

[DeaDTerra]

We finished at a negative rate this week of -0.672%
The balance has been updated and the withdraws has been sent out
Weekly report will be released tomorrow.
//DeaDTerra

[DeaDTerra]

Hey guys!
I have a fun story and a semi sad news for you guys. What to start with first? hm, let's go with the story first

Okay, so today I got called up by the first bitcoineer, he was a nice Swedish guy that wanted to know about the fund. It was kind of scary that it's so easy to find my phone number online but it was quite fun xD
We had a nice chat about, Gamma, Pirate, the bitcoin economy and in the end we decided to meet at the London conference
I have to say though, please email me before you call it's kinda creepy being called by a unknown number, a lot nicer if I am prepared for it
But thanks for the call I appreciate it!

Okay to the semi sad part, I am shutting down withdraws for the next two up and coming weeks, (might be more might be less). Before you come at me with the pitchforks and the torches screaming "PONZI!". let me explain, firstly calm down, you know me I am not planning on running away or defaulting on you guys! The case is as follows, you know GBF is currently struggling with the Bitcoin price increase and the bearish GLBSE market. It's normally fine as I can do manual flip trading to keep us over 0% profit boundary. But the recent couple of weeks I have been getting 1000-2000 BTC withdraws each week with only a couple of hundred btc in deposits. I am doing my best to try to liquidate fast enough from GLBSE, but anyone that has been there recently knows how hard it is to liquidate a couple of thousand btc without crashing the market. It's not something that can be done within a couple of days.

Hence I am shuting down withdraws for a while, to let me get some breathing air. To get a buffert of liquid btc, that I can flip/margin trade with and payout withdraws with. Once I have a good amount I will start paying out withdraws again, I know this is a leap of faith and that some of you might doubt me, might want to get out as fast as possible. But think of this, you have already taken the biggest step, trusting me from the start! So I am asking you, trust me once again on this one, I need to build up a buffert and to do this I need time, please give me that time.

All withdraw request sent previous to this post will be paid out.

//DeaDTerra

[cst]

...
Hence I am shuting down withdraws for a while
...
//DeaDTerra

It's a Ponzi, I knew it! How could we have been so stupid...

On a serious note, I trust you this time as well. Expecting some BS post form Micon anytime now though hehe;)

[DeaDTerra]

...
Hence I am shuting down withdraws for a while
...
//DeaDTerra

It's a Ponzi, I knew it! How could we have been so stupid...

On a serious note, I trust you this time as well. Expecting some BS post form Micon anytime now though hehe;)

Yea I am a bit sad that I was not yet invited to Micons party
I mean I must be a ponzi right? xD
//DeaDTerra

[LoweryCBS]

I am shutting down withdraws for the next two up and coming weeks...

//DeaDTerra

I agree with your temporary withdrawal shutdown.

Also consider doing some additional promotion to add investors.

Thanks for the all work and attention you put into this!

[Sukrim]

Wouldn't it be better to allow for new investors again instead of shutting down withdrawals?

[DeaDTerra]

I am shutting down withdraws for the next two up and coming weeks...

//DeaDTerra

I agree with your temporary withdrawal shutdown.

Also consider doing some additional promotion to add investors.

Thanks for the all work and attention you put into this!

Wouldn't it be better to allow for new investors again instead of shutting down withdrawals?

New investors are currently open due to the many withdraws and yes that would be the most optimal way to do it, but unfortunately the amount of new investors are lower then the amount of old investors leaving.
//DeaDTerra

[OneEyed]

No limit until the 6th on July, at the 6th of July, deposits will be closed for a unknown time.

If you want to attract new investors, maybe you should drop this from the OP.

[Sukrim]

I thought about investing, however I am unhappy with the move away from GLBSE and into ventures like ziggystar (a badly paying PPT imho) - but good luck with your fund nevertheless!

[Bitcoin Oz]

I thought about investing, however I am unhappy with the move away from GLBSE and into ventures like ziggystar (a badly paying PPT imho) - but good luck with your fund nevertheless!

Its not good to have all your eggs in the one basket in case something happens to glbse.

[Sukrim]

Yes, however I rather like focussed funds, not "we cover all markets/jack-of-all-trades" funds. It seems at least people with ~10k BTC in total think differently, so the idea certainly is also worth something...

Using GLBSE for far over 1 year now I a fairly confident that Nefario won't pull a Bitcoinica anytime soon.

[LoweryCBS]

Yes, however I rather like focussed funds, not "we cover all markets/jack-of-all-trades" funds. It seems at least people with ~10k BTC in total think differently, so the idea certainly is also worth something...

Using GLBSE for far over 1 year now I a fairly confident that Nefario won't pull a Bitcoinica anytime soon.

One reason I like this fund is it's limited exposure to GLBSE.

I'm not worried about Nefario, I'm concerned about some regulatory agency getting involved.

I've got the bulk of my own at-work coins on GLBSE, and don't personally have the off-GLBSE connections that a large fund manager has access to.

I think once the BTCST matter settles (Ponzi or not, it can't go on much longer: the math just ain't there) there will be people with coins looking for investments. I'm sure that the current withdrawls from GAMMA are pirateat40-rate-seekers.

[DeaDTerra]

Yes, however I rather like focussed funds, not "we cover all markets/jack-of-all-trades" funds. It seems at least people with ~10k BTC in total think differently, so the idea certainly is also worth something...

Using GLBSE for far over 1 year now I a fairly confident that Nefario won't pull a Bitcoinica anytime soon.

I thought about investing, however I am unhappy with the move away from GLBSE and into ventures like ziggystar (a badly paying PPT imho) - but good luck with your fund nevertheless!

Its not good to have all your eggs in the one basket in case something happens to glbse.

Yes, however I rather like focussed funds, not "we cover all markets/jack-of-all-trades" funds. It seems at least people with ~10k BTC in total think differently, so the idea certainly is also worth something...

Using GLBSE for far over 1 year now I a fairly confident that Nefario won't pull a Bitcoinica anytime soon.

One reason I like this fund is it's limited exposure to GLBSE.

I'm not worried about Nefario, I'm concerned about some regulatory agency getting involved.

I've got the bulk of my own at-work coins on GLBSE, and don't personally have the off-GLBSE connections that a large fund manager has access to.

I think once the BTCST matter settles (Ponzi or not, it can't go on much longer: the math just ain't there) there will be people with coins looking for investments. I'm sure that the current withdrawls from GAMMA are pirateat40-rate-seekers.

Gamma Bitcoin Funds strength is that it's diversified, too lower risk of high loses from defaults and such. Hence one of the things I wish to do is to reduce out GLBSE exposure, but this doesn't mean that we shouldn't invest in GLBSE, we should there are tons of good deals on there. But maybe in smaller volumes and only a select amount of share/bonds

I trust Nefario, he is one of the most public person in the bitcoin community. The chance of him running away is slime to non.

I am currently working on a deal that might help us liquidate some of our assets
//DeaDTerra

[Ignatius]

I am sorry to hear about the withdrawals and various factors making things more difficult for you DT.

I very recently withdrew my deposit after about 4 weeks time, but it was small compared to the totals referred to above. Communications with DT during that time were great, always prompt responses. I opted to rollover profits and not take any payouts, and successfully received my deposit plus profits once requested.

I hope things begin to go a little more smoothly for you DT, if I can come up with some spare coin I'll have no problem depositing again.