[Investment fund] Gamma Bitcoin Fund [Closed]

[DeaDTerra]

I am in agreement with bitcoin.me.

I should be able to pay the last people in the queue this weekend so we should go back to normal by the beginning of next week
//DeaDTerra

[1714009892]

1714009892

[1714009892]

1714009892

[lenny_]

So who's going to London for the Bitcoin Conference?
anyone feel like meeting up?
I have already planned to meet up with BTCurious and a couple of others.
//DeaDTerra

I'm going and would definitely like to meet the manager of my investment fund 

Sure, I will probably be pretty public of who I am and such, I was thinking of maybe posting if I go and eat with some friends somewhere, so that anyone that wants to join in can
Otherwise I am sure that if you want to find me you can, If you want my number then that can be arranged
//DeaDTerra

Sounds great. We can gather more investors from your Fund and meet together. I will be there as well:)

[DeaDTerra]

So who's going to London for the Bitcoin Conference?
anyone feel like meeting up?
I have already planned to meet up with BTCurious and a couple of others.
//DeaDTerra

I'm going and would definitely like to meet the manager of my investment fund 

Sure, I will probably be pretty public of who I am and such, I was thinking of maybe posting if I go and eat with some friends somewhere, so that anyone that wants to join in can
Otherwise I am sure that if you want to find me you can, If you want my number then that can be arranged
//DeaDTerra

Sounds great. We can gather more investors from your Fund and meet together. I will be there as well:)

Awesome man, I will probably be hanging out mostly with Mqrius and Willem (from sc2btc.com) and anyone else that seems nice ^^
I will be living at the imperial hotel next to the event, I am sure we can meetup somewhere near the convention or something
Will be nice to meet some investors, gain some additional trust and get to know some of you guys personally.
//DeaDTerra

[PatrickHarnett]

If people want to withdraw they should take the hit not the remaining investors.

For information, I had a request lodged a little while ago, and I confirmed with DT the loss on the investment.  I am happy with the returns received over the past few months, and while a drop at the end is not ideal, I am realistic and understand the issues DT has with market liquidity.  I would not expect him to manipulate the funds resources just to me my withdrawal look better and I commend him for that.

[jackmaninov]

With all the bitdaytrade and JRO drama going on, could you (DeaDTerra) give us all some idea what GBF's exposure is to this entire situation? I know that you have been working with him for some time (for example the REBATE IPO).

Should we be considering the REBATE and BDT investments to be a write-off at this point? Are you still working with JRO or is he incommunicado with you as well?

[DeaDTerra]

With all the bitdaytrade and JRO drama going on, could you (DeaDTerra) give us all some idea what GBF's exposure is to this entire situation? I know that you have been working with him for some time (for example the REBATE IPO).

Should we be considering the REBATE and BDT investments to be a write-off at this point? Are you still working with JRO or is he incommunicado with you as well?

Our exposure is a bit above 800 BTC for all assets involved if we take a full default lose.
This is something I don't think will happen as I have talked to both JRO and Alberto and they both intend to payback at least part of the sum that was raised by the investores.

I wouldn't consider them totally written off but there's surely a huge risk of partial if not major lose due to this asset default.
JRO has been communicating, but he's sick and in bed. But I got a hold of him and as far as I know he plans to raise money to pay off his debt.
//DeaDTerra

[DeaDTerra]

Hey guys, I have gotten some more withdraws and I have used up some of the liquid BTC to purchase more ASICMINER shares as well as some more pirate bonds (for cheap)
So to make it more fair and so that everyone feel that they are being treated equally I will create a withdraw list.
If you have requested a withdraw but you are not on this list please PM me as I have probably forgotten xD
Withdraw list:

#58: 19.134 BTC
#95: 100 BTC
#114: 176.813BTC
#62: 24.166 BTC
#43: 34.315 BTC
#98: 4.931 BTC
#52: 174.382 BTC
#91: 500 BTC 239 BTC
#22: 301.889
#4:   19.924 BTC
#53: 182.594 BTC
#112: 93.08 BTC
#93: 89.914 BTC

I think that's all, so in total 1100 BTC in withdraw requests.
We currently have 400 BTC in liquid capital we can pay out, we had more in the beginning on the week but due to some good investment that poped up we spent more then planned
Hopefully pirate will start paying back next week which should give us some more liquid capital and enough to payout the rest of the withdraws.

I also want to state that the current value of our portfolio does not represent the real value of it at the moment due to the fear on the market cause by the pirate closing. The next up and coming week is going to be very interesting, independent if pirate pays out or not.
//DeaDTerra

[LoweryCBS]

...the current value of our portfolio does not represent the real value of it...

//DeaDTerra

Please make sure that you establish this REAL value before processing withdrawals.

You are running an INVESTMENT FUND, not a DEMAND DEPOSIT BANK.

I believe that withdrawals should either wait on liquid capital inflow from new investors, or pay a substantial penalty. Otherwise, a "bank run" of sort could result from the remaining investors feeling like their being left holding a bag of CURRENTLY over-valued assets.

[BadBitcoin (James Sutton)]

...the current value of our portfolio does not represent the real value of it...

//DeaDTerra

Please make sure that you establish this REAL value before processing withdrawals.

You are running an INVESTMENT FUND, not a DEMAND DEPOSIT BANK.

I believe that withdrawals should either wait on liquid capital inflow from new investors, or pay a substantial penalty. Otherwise, a "bank run" of sort could result from the remaining investors feeling like their being left holding a bag of CURRENTLY over-valued assets.

investment funds are sellable, this isn't, there was nothing mentioned on the front page about dodgy withdrawal issues when I opened an account, otherwise I wouldn't have even thought of putting money here, but I'm being patient.

[DeaDTerra]

...the current value of our portfolio does not represent the real value of it...

//DeaDTerra

Please make sure that you establish this REAL value before processing withdrawals.

You are running an INVESTMENT FUND, not a DEMAND DEPOSIT BANK.

I believe that withdrawals should either wait on liquid capital inflow from new investors, or pay a substantial penalty. Otherwise, a "bank run" of sort could result from the remaining investors feeling like their being left holding a bag of CURRENTLY over-valued assets.

investment funds are sellable, this isn't, there was nothing mentioned on the front page about dodgy withdrawal issues when I opened an account, otherwise I wouldn't have even thought of putting money here, but I'm being patient.

With real value I mean that the current share price is less then the "real" price as it's controlled by fear but really there is no real price as they are all just market prices, what I am trying to say is do not start panicing if our NAV has dropped (and it will have), this week. It's only short term and it should bounce back

To bad Bitcoin I am sorry about the delays, I am doing my best to pay out on time and as quickly as possible. The fund has full transparancy, if you have a better suggestion of how to solve this situation please do contact me about it All the data is in the spredsheet.
//DeaDTerra

[OneEyed]

investment funds are sellable, this isn't, there was nothing mentioned on the front page about dodgy withdrawal issues when I opened an account, otherwise I wouldn't have even thought of putting money here, but I'm being patient.

I'm sure that if you manage to sell your GBF investment to a third party, this will not be hard for DeaDTerra to put a new nickname and a new withdrawal address into your account row.

[DeaDTerra]

investment funds are sellable, this isn't, there was nothing mentioned on the front page about dodgy withdrawal issues when I opened an account, otherwise I wouldn't have even thought of putting money here, but I'm being patient.

I'm sure that if you manage to sell your GBF investment to a third party, this will not be hard for DeaDTerra to put a new nickname and a new withdrawal address into your account row.

This is one of the reasons I want to list GBF on GLBSE, it's something I am working on and we will hopefully have up in one or two weeks time. I originally planed to launch it this week but with the chaos from pirate I don't think it's a good time.
Then anyone that is only looking to invest short term can buy the shares instead of getting a account
//DeaDTerra

[lenny_]

All accounts are going to me moved to GLBSE? When you finally move it, do we need to change anything, buy shares from asset on GLBSE or something? Or maybe old account will stay as they are now?

[DeaDTerra]

All accounts are going to me moved to GLBSE? When you finally move it, do we need to change anything, buy shares from asset on GLBSE or something? Or maybe old account will stay as they are now?

No all accounts will not be moved though you can transfer your account to GLBSE if you want to, I simply create shares and transfer them to you then 0 your account.
Each investor choses which system he/she wants, both systems will have positives and negatives with them.
//DeaDTerra

[DeaDTerra]

profit calculations,withdraws,deposits and such will be done early morning tomorrow, as I think it will give the market a bit of time to stabilize
//DeaDTerra

[CecilNiosaki]

For anyone that would like to cash out, I am currently buying accounts for 0.661719475BTC per share. To see what I would pay you for your shares, as there is no list of how many shares of what you own, take your total BTC value and multiple it by the quoted amount. This rate applies to transactions under 100BTC. For transactions over 100BTC I am offering 0.756250829BTC per share.

Any interested parties please send a PM.

I currently have 500BTC availability for these transactions.

[DeaDTerra]

For anyone that would like to cash out, I am currently buying accounts for 0.661719475BTC per share. To see what I would pay you for your shares, as there is no list of how many shares of what you own, take your total BTC value and multiple it by the quoted amount. This rate applies to transactions under 100BTC. For transactions over 100BTC I am offering 0.756250829BTC per share.

Any interested parties please send a PM.

I currently have 500BTC availability for these transactions.

I approve of the free market and hence support balance transferes between accounts. Tonight I will release my plan of the new system for GBF which will protect us from these kind of withdraw crisis and also help us out with dividing the investors into long term and short term investors
Time to go calculate the profit this week.
//DeaDTerra

[DeaDTerra]

This weeks profit landed at -5.94%, As expected we took a great lose this week due to the panic in the market after the pirate closing. A full analysis and report will be released tonight.

Meanwhile I will give you a quick update report as well as some of my plans for the future.
Around 600 BTC was paid out in withdraws this week, as you can see here on this list https://bitcointalk.org/index.php?topic=74975.msg1113205#msg1113205
If you have requested a withdraw and haven't been listed yet contact me.
Hopefully everyone that's on the list and still haven't received their withdraw will receive it next week.

I am thinking about launching GBF on GLBSE. The way it would work would be the following.
The GLBSE will work as following (is the plan, if you have any critic or suggestion they are more then welcomed)

Each bond gives the owner the right to 70% of the profit made for a 0.1 BTC balance in GBF (Gamma Bitcoin Fund). 7.5% of the profit not paid out will be taken as a admin fee and the 22.5% will be kept in a reserve deposit to ensure the value of each bond, in case of loses. Whenever the reserve buffer contains 0.02 BTC per share a full 92.5% of the profit will be paid out.In case of a situation where the loses reaches more than 0.04 BTC per share, then 0% of the profit will be paid out and 92.5% will be used as an emergency buffer until the balance is back to 0.1BTC per share.

This would basically be for the people that are interested in investing short/mid term. Then the accounts would be for long term investors. Each investor that has a account would lock it for x weeks, for each 4 week the amount of fees would be reduced by 1% hence encouraging long term investments which helps reduce the amount of manual work for me. For people that are interested in only investing short term you can buy shares on GLBSE and sell if off at any time.
I would also enable one way conversions, from account balance to GLBSE shares, during the first couple of weeks. So that the current investors can chose if they want to be on GLBSE or have a long term account.

This is just a draft, what do you guys think of it?
//DeaDTerra

[BadBitcoin (James Sutton)]

I can safely say that deadterra paid me back.

[DeaDTerra]

I can safely say that deadterra paid me back.

Sorry about the delay
//DeaDTerra