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Author Topic: [CLOSING...] MOVETO.FUND - MoveTo Growth Fund  (Read 11424 times)
cytokine
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August 19, 2012, 03:02:43 AM
 #101

With all the pirate funds gone and ZIP.A and BDT under a cloud I think your fund is going to be one of the top 3 assets on GLBSE shortly  Smiley

Yep Cheesy. Although, there are many much larger funds and banks than mine... Starfish has some 60K I think, and I think Gamma is probably comparable, but these just aren't listed on the GLBSE.

In other news though, I'm almost done refactoring the code - in this case, it was a total rewrite. It's so much cleaner now and elegant, using the linux philosophy of having separate tools each with a separate job: one for getting data, one for constructing price bars, one for doing indicators, and one for overall execution. It's great because with this code base I can very quickly adapt it for other markets just by pointing the data feed to a different place. The ask-code should be much easier to plug in now, and at that point I'll be feeling much better about things. I'm also excited because I got the strongest buy signal I've ever received on any asset this month (I'll discuss this in the next monthly update after we've done some more buying).

The only thing keeping me up at night now is this whole BDT fiasco. I truly think that the problems with the platform as easy to fix, so it all just depends on Alberto's honesty. Right now I'm waiting to update the NAV after we get our coupons, which Meni promises are coming tomorrow along with the late bonus.

I've been thinking about the issue of trust and lack of GLBSE-auditing/ratings, and I think perhaps that avoiding IPOs completely may be the most risk-adverse approach, because the history of an asset is very important (with the exception of high rep issuers of course, such as Goat etc.). I haven't made any decisions yet on this; I don't know what is going to happen yet in the immediate future with BDT, and I don't yet know what my actions will be depending on the situation. Lets just see what happens tomorrow.

In the meantime, I'll ask my shareholders: what is your opinion? I am here to serve you after all, and to get the ulcers so that you don't have to Undecided
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August 19, 2012, 03:20:22 AM
 #102

Patrick isnt on GLBSE   Cheesy

It's a good idea to diversify into other markets although I havent had much to do with cryptostocks or MPEX. Their might be good value in becoming a sort of "broker" so people dont have to open accounts at these other stock exchanges they only need to buy your fund on glbse to get the exposure.

I think its wise to avoid new IPO's untill they become established stocks as the recent price rise has seen a  rash of scammy-looking ones appear including an obvious scam called TIMESHAREAFRICA.

Ive heard rumours there is a bitcoin credit rating agency coming which might help. I dont know to what extent the pirate stuff was the cause of the bitcon price rise so we could go back to the $5- $8 range for awhile which would attract more glbse investment. Depending on the major announcement in september of course.


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August 19, 2012, 03:59:51 AM
 #103

It's a good idea to diversify into other markets although I havent had much to do with cryptostocks or MPEX. Their might be good value in becoming a sort of "broker" so people dont have to open accounts at these other stock exchanges they only need to buy your fund on glbse to get the exposure.

Excellent idea. I'll have to look into their APIs and see how easy it is to pull in data from there.

I think its wise to avoid new IPO's untill they become established stocks as the recent price rise has seen a  rash of scammy-looking ones appear including an obvious scam called TIMESHAREAFRICA.

Agreed, and you can consider it done. I was thinking that around three months is a good wait time for new issues to season. Unless others disagree, this should be our new policy, with obvious exceptions for very high rep issuers. And, it will help greatly with sleeping at night. Of course, ZIP.A had been trading much longer than that... so not all scams are avoidable, but our exposure can be strongly mitigated. I'll modify the OP when I do the NAV update (and I'll also remove the now unnecessary "no pirate exposure" clause and replace it with a"no JRO exposure" clause Smiley)

Ive heard rumours there is a bitcoin credit rating agency coming which might help.

Yep, that would be perfect. Then we just filter out everything below a certain rating: bam.

I dont know to what extent the pirate stuff was the cause of the bitcon price rise so we could go back to the $5- $8 range for awhile which would attract more glbse investment. Depending on the major announcement in september of course.

That would be ideal for us. I really don't want bitcoin to go up in price yet. The thing is, I'm so bullish on its long-term potential that I'm just hoping we'll all have sufficient time to accumulate enough coins before the critical-mass point.
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August 19, 2012, 04:00:19 AM
 #104

Starfish et al peaked around 58k.  With the wind out of the PPT.assets it should be back closer to 35k quite soon.  Depends on how the next week and month play out.

Anyway, the MoveTo Fund is an important part of the economy.
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August 19, 2012, 04:29:29 AM
 #105

I really appreciate the transparency and professionalism you bring to the table in this frontier market cytokine.  I agree with you on all points mentioned concerning IPO and strategy moving forward. 

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August 19, 2012, 03:54:05 PM
 #106

Starfish et al peaked around 58k.  With the wind out of the PPT.assets it should be back closer to 35k quite soon.  Depends on how the next week and month play out.

Anyway, the MoveTo Fund is an important part of the economy.

The Starfish seal of approval! Woooooot!

Seriously though, this means a lot to me coming from you, with your impeccable reputation.

I really appreciate the transparency and professionalism you bring to the table in this frontier market cytokine.  I agree with you on all points mentioned concerning IPO and strategy moving forward. 

Thanks silver. Personally, I absolutely can't stand the non-professional issuers out there. They can cause a lot of pain and misery for people. I've been on the other end of that kind of crap so I know what it's like, and I never want my investors to have to feel that way. Communication with your investors is the key, really: they need to know exactly what's going on with their hard-earned money, good or bad.
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August 19, 2012, 10:00:27 PM
 #107

NAV per share updated to 1.1848085612

Note: all is well with BDT Smiley
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August 19, 2012, 10:08:36 PM
 #108

Starfish et al peaked around 58k.  With the wind out of the PPT.assets it should be back closer to 35k quite soon.  Depends on how the next week and month play out.

Anyway, the MoveTo Fund is an important part of the economy.

The Starfish seal of approval! Woooooot!


I backed my opinion with an investment a few weeks ago.  Only a few hundred, but have placed money not just words on this.

Smiley
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August 22, 2012, 06:03:14 PM
 #109

The contract has been updated with some very minor changes. Most notably, I am removing the "will not be involved with pirate" clause since it's no longer necessary since pirate is unwinding his operations; additionally, due to recent public information, I have purchased some passthroughs which are selling for huge discounts which should give us a nice quick profit of 30%+ on a very small amount of capital. Obviously, since this temporarily goes against our historical non-pirate stance, I am insuring these investments 100% with my own money, so it is at no risk to the fund: heads you win, tails I lose. But it's just far too easy and profitable a trading opportunity to pass up, and has given us the ability to swap out of our (very few) losing investments such as PUREMINING without suffering further capital loss. We are not, of course, selling any of our winners for the sake of a short-term trade, and so the fund will continue to focus on its normal mission going forward. Note that this modification means that I will offer to buy back any shares at today's NAV per share of 1.18480856, and this offer will be open for one full month.

Here's the new contract:

(0) Each IPO share represents a 1 BTC investment in the fund.
(1) The fund trades and invests primarily in securities on the GLBSE, but may also invest in opportunities outside of the GLBSE.
(2) 80% of earnings are reinvested for fund growth, and 20% are paid out as fees to the fund operator. Fees are paid once a month on the first of the month.
TO CLARIFY:
The 20% fee only applies to the differential between the last high water mark and the new high water mark. This means that I only make money when my investors make money. For example: if we have a losing month, that
means I have to make that money back and then some before I can get paid. (This is also known as a performance fee.) There is no management fee.
(3) The fund operator will buy-back shares on the first of every month upon request to ensure liquidity for exiting MOVETO.FUND. Each share is valued at the NAV per share minus 1% to cover redemption expenses.
(4) New shares may be issued at any time at the NAV per share to ensure liquidity for entering MOVETO.FUND
(5) This contract may be amended in the future provided the operator alerts all investors and offers to buy back shares at the full NAV per share at the time the contract was modified. The buy-back offer must be open for one full month after any modification.
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August 22, 2012, 07:47:16 PM
 #110

... due to insider information ...

I love unregulated markets <hug>

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August 22, 2012, 07:58:09 PM
 #111

... due to insider information ...

I love unregulated markets <hug>

Bad wording on my part, it is not insider information, it is public information:

I would like to provide some insight into what was going on as I mapped out the mechanics of what I thought was going on to Pirate last week.  It had taken me a while to work out the money flows, and he confirmed that I had it pretty much straight.  For the doubters, they would say he was simply lying and stringing me along, but that could be said of most people on the forum.  

As for disclosing it, I do not consider it my place to do that.  It was something confidential I discussed with someone, and it stays that way until Pirate wishes to make it public.  There is nothing stopping me from duplicating it, and it's not illegal at all, but it would take a lot of time and effort.  I am sure Pirate is happy to be winding it up and being able to get away from it for a while.

Also, not all PPTs are gone, I still have one, just with zero volume until I work out a reincarnation for it.

Anyway, as I wasted most of yesterday, I didn't re-do the OP - I'll do some work on that now.

The MoveTo fund has never made any trades based on insider information. The fund is mostly automated and that is what drives our investment decisions; this short-term pirate trade is a one-off thing, and these types of trades are probably going to be very rare going forward.
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August 22, 2012, 10:12:04 PM
 #112

... due to insider information ...

I love unregulated markets <hug>

Bad wording on my part, it is not insider information, it is public information:
Good to know... however I did not mean that snarky... but more literal.

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cytokine
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August 22, 2012, 10:29:53 PM
 #113

... due to insider information ...

I love unregulated markets <hug>

Bad wording on my part, it is not insider information, it is public information:
Good to know... however I did not mean that snarky... but more literal.

Yeah, I know you meant it in a good way Smiley.

But, I still have to be careful. I'm sure you understand.
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August 23, 2012, 12:10:27 AM
 #114

I have purchased some passthroughs which are selling for huge discounts which should give us a nice quick profit of 30%+ on a very small amount of capital. Obviously, since this temporarily goes against our historical non-pirate stance, I am insuring these investments 100% with my own money, so it is at no risk to the fund: heads you win, tails I lose. But it's just far too easy and profitable a trading opportunity to pass up,

 Cheesy Cheesy

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August 23, 2012, 12:31:40 AM
 #115

I have purchased some passthroughs which are selling for huge discounts which should give us a nice quick profit of 30%+ on a very small amount of capital. Obviously, since this temporarily goes against our historical non-pirate stance, I am insuring these investments 100% with my own money, so it is at no risk to the fund: heads you win, tails I lose. But it's just far too easy and profitable a trading opportunity to pass up,

 Cheesy Cheesy

Excellent  Smiley

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August 23, 2012, 12:55:38 AM
 #116


lol guys don't get too excited, we're talking about less than 200 BTC right now, or about 2% of the fund... so yeah, not as exciting as it sounds, but we just don't have much liquid funds. In the past when a short-term opportunity arose I could usually borrow the funds to snag the opportunity in a bigger way, but none of the BTC banks are lending right now Sad. Of course, if there are still good pirate-panic-prices out there over the weekend when we earn our bigger coupons (NCKRAZZE+BDT), then we'll snag them.

Also, it seems that a lot of banks and deposit takers are freezing or even closing operations during this transition period. For example NCKRAZZE, who has been a great rock for a good portion of the fund, is planning on returning funds shortly, and both the Starfish BCB and the BDK are forgoing deposits and halting new loan issuance until the dust has settled. It's going to be an interesting next few weeks...
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August 23, 2012, 01:30:23 AM
 #117


For example NCKRAZZE, who assured me puts his deposits to work through his mining equipment and "keeps a strict separation between that and his pirate funds", is planning on returning funds shortly, which means that arbing pirate was almost certainly his primary money-making venture to support the 2.5%/week and he was using mining merely as a backup. However, he has stated that if pirate defaults, he will still pay back every satoshi of deposits,

No, he stated that if pirate defaults he can pay back 35%. Sounds like some great returns for your fund.

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cytokine
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August 23, 2012, 01:38:29 AM
 #118


For example NCKRAZZE, who assured me puts his deposits to work through his mining equipment and "keeps a strict separation between that and his pirate funds", is planning on returning funds shortly, which means that arbing pirate was almost certainly his primary money-making venture to support the 2.5%/week and he was using mining merely as a backup. However, he has stated that if pirate defaults, he will still pay back every satoshi of deposits,

No, he stated that if pirate defaults he can pay back 35%. Sounds like some great returns for your fund.

Hah I was still editing my post... in any event, no, he has told me that he will pay back in full even if pirate defaults, just that it might take longer for him to liquidate everything:

I will liquidate mining hardware and I will also withdraw coins from lenders/sell bonds if needed to fund all of the deposit returns. In fact, my main priority is to liquidate about 15% of the mining operation in order to fund the returns.

In the case that pirate is unable to payout, which is highly unlikely, I will be forced to sell all of my assets to fund the returns. This will require the liquidation of all of my mining hardware and will require a larger time frame.

I have no worries about Nick.
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August 23, 2012, 01:48:26 AM
 #119

In the case that pirate is unable to payout, which is highly unlikely, I will be forced to sell all of my assets to fund the returns. This will require the liquidation of all of my mining hardware and will require a larger time frame.

I have no worries about Nick.

He'd have to have liquidated all of his assets and all of his mining hardware to cover deposits of three months ago? And you have no worries because he says its highly unlikely? Then I have more worries about you than him.

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August 23, 2012, 02:09:15 AM
 #120

In the case that pirate is unable to payout, which is highly unlikely, I will be forced to sell all of my assets to fund the returns. This will require the liquidation of all of my mining hardware and will require a larger time frame.

I have no worries about Nick.

He'd have to have liquidated all of his assets and all of his mining hardware to cover deposits of three months ago? And you have no worries because he says its highly unlikely? Then I have more worries about you than him.

#1 I trust Nick's character, which I had cross-referenced by other very trustworthy forum members.
#2 Based on this, I believe Nick that if pirate does default, he will sell off his GLBSE assets and mining equipment to cover the debt (or perhaps we could even negotiate a deal, depending on the assets, to have them directly transferred).
#3 I also believe a pirate default is extremely unlikely, again, based on information about how pirate generates his returns.

Now, if I was depositing money with Dank or Rusty Ryan then you'd have a real reason to worry, but not here. We have deposited with Nick since the very start of the fund, so if you strongly feel this way then you should not have invested with us. We have to take some risk; I cannot generate returns by sitting on coins in cold storage.
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