[Cryptostocks] BBBB Bitcoin Emerging Market Fund

[Surf Capital Management]

Secondary Offering (4/12/2014)
Fund Prospectus

 


Buy Shares on Cryptostocks

[1715582406]

1715582406

[1715582406]

1715582406

[Surf Capital Management]

BBBB International Communication Network

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[Sukrim]

Cute, even my GLBSE portfolio is bigger than this and I'm by far one of the smaller "fishes" out there.

By the way, you don't specify your management fee at all.

[Surf Capital Management]

Cute, even my GLBSE portfolio is bigger than this and I'm by far one of the smaller "fishes" out there.

By the way, you don't specify your management fee at all.

The management fee is clearly defined in the "Company and security details, contract" on the GLBSE asset page, and on the company web page.

This is an open ended fund, so as investors purchase shares at NAV new funds are added to the account to be managed.

[Sukrim]

What are "treasury shares"?! Also you have a trading volume of >144 BTC already, why are you still holding assets of only ~60 BTC?

[Winterfrost]

What are "treasury shares"?!

Treasury shares are shares that have been bought back by the issuing entity.

[Surf Capital Management]

What are "treasury shares"?! Also you have a trading volume of >144 BTC already, why are you still holding assets of only ~60 BTC?

"Treasury Shares" are shares that the fund has issued but are still on the fund's books because they have not yet been purchased by investors. Treasury shares do not receive dividends.

Concerning the trade volume, I have been working on a program to ensure the fund's liquidity. While creating the program I traded shares between various accounts to test its effectiveness. The trading between the accounts adds to total trading volume and doesn't necessarily mean that all volume is new funds being placed in the account.

[Surf Capital Management]

July Investors Report just completed; Total Monthly Return: 13.152%

[Surf Capital Management]

Transactions involving all stock are welcome. BBBB shares will be traded at face value (Net Asset Value) for the current market price of the particular security. This is a great way to earn steady dividend streams (.5%/ wk) on securities that don't yet pay dividends while still being able to have benefical ownership of the security through the fund (BBBB).

For Example: (BBBB NAV = BTC.00025)

1 GIGAMINING share = 3,876 shares BBBB

1 BDT share = 4,680 shares BBBB

1 PUREMINING share = 332 shares BBBB

1 ASICMINER share = 352 shares BBBB

1 PUREASIC share = 3200 shares BBBB

1 BBBB share = 1 share BBBB

PM for more info.

[Surf Capital Management]

August Investors Report completed; Total Monthly Return: -21.24%

[Bitcoin Oz]

August Investors Report completed; Total Monthly Return: -21.24%

ouch....

[JMAHH]

+1 for the transparency.

[Zillions]

Oooooohhh now I see why I got "payments" of 0.0 divadends I thought that was weird.

[FuzzyBear]

Is this dead stock on cryptostock.com ??

should the listing be removed? or shares bought back? what's the project at? ASICMiner shares should pay off nicely

[poly]

It's dead. Not everyone should be running their own "market fund" or whatever, especially if you held pirate passthroughs.

[Smoovious]

Doesn't appear to be dead...

There was a dividend paid out this week. Glad I bought up all those shares at 0.0001 a couple weeks ago. XD

-- Smoov

[Surf Capital Management]

BTC11.59 dividend paid on 1mm shares on March 22nd, each share received BTC0.00001159.

The BTC11.59 represents all funds received from buybacks and dividends since the GLBSE closure.

The fund will now act as a passthrough to the ASICMINER, YABMC, and BDK.BND assets that were purchased on GLBSE the the fund owns.

Fund Assets:

24 Shares ASICMINER
22 Shares BDK.BND
91 Shares YABMC

[Smoovious]

BTC11.59 dividend paid on 1mm shares on March 22nd, each share received BTC0.00001159.

The BTC11.59 represents all funds received from buybacks and dividends since the GLBSE closure.

The fund will now act as a passthrough to the ASICMINER, YABMC, and BDK.BND assets that were purchased on GLBSE the the fund owns.

Fund Assets:

24 Shares ASICMINER
22 Shares BDK.BND
91 Shares YABMC

Do you have any plans for obtaining more shares as well?

Such as... are 100% of dividends paid by those funds, being passed through to us, or is there a percentage being retained by the fund to be used for re-investment?

-- Smoov

[Surf Capital Management]

BTC11.59 dividend paid on 1mm shares on March 22nd, each share received BTC0.00001159.

The BTC11.59 represents all funds received from buybacks and dividends since the GLBSE closure.

The fund will now act as a passthrough to the ASICMINER, YABMC, and BDK.BND assets that were purchased on GLBSE the the fund owns.

Fund Assets:

24 Shares ASICMINER
22 Shares BDK.BND
91 Shares YABMC

Do you have any plans for obtaining more shares as well?

Such as... are 100% of dividends paid by those funds, being passed through to us, or is there a percentage being retained by the fund to be used for re-investment?

-- Smoov

I do not have any plans for obtaining more shares right now. 100% of the dividends will be passed through (less the ~.001BTC network fee).

The fund also owns 37 shares of Bitbond, which currently doesn't pay any dividends. I'm contemplating liquidating those shares and paying out the proceeds as an additional dividend.

[Smoovious]

Do you have any plans for obtaining more shares as well?

Such as... are 100% of dividends paid by those funds, being passed through to us, or is there a percentage being retained by the fund to be used for re-investment?

I do not have any plans for obtaining more shares right now. 100% of the dividends will be passed through (less the ~.001BTC network fee).

The fund also owns 37 shares of Bitbond, which currently doesn't pay any dividends. I'm contemplating liquidating those shares and paying out the proceeds as an additional dividend.

That's a shame... hope you reconsider in the future and look into planned reinvestment.

Or, perhaps use the funds from liquidating those shares, to invest into another more favorable project?

-- Smoov

[junkonator]

What's the situation? People selling like crazy on cryptostocks but no update here. What happened?

[Squeaker]

Still no activity on this at cryptostocks... has anybody even heard from the owner?

did he die? did he just walk away? anything at all?

=squeak=

[Surf Capital Management]

Current Holdings:

[kakobrekla]

Current Holdings:

How about posting NAV n stuffs? Also P/L per security would be very interesting.

Note im not invested in this security and i pretty much know what the numbers will show.

[Surf Capital Management]

Current Holdings:

How about posting NAV n stuffs? Also P/L per security would be very interesting.

Note im not invested in this security and i pretty much know what the numbers will show.

I'm marking the ACTM shares to market at BTC.01/share, which makes NAV ~36.5BTC

Note: These are forward looking statements. Your due diligence is required.

[pablo325]

How about an announcement on cryptostocks.com ?

Letting people know you aren't dead or anything...

Thanks

[thy]

Current Holdings:

How about posting NAV n stuffs? Also P/L per security would be very interesting.

Note im not invested in this security and i pretty much know what the numbers will show.

I'm marking the ACTM shares to market at BTC.01/share, which makes NAV ~36.5BTC

Note: These are forward looking statements. Your due diligence is required.

Activemining is not delisted, there still listed on on cryptostocks https://cryptostocks.com/securities/56 and they have relisted on crypto-trade(762 175 out of  25 000 000 shares on the market there so far), https://www.crypto-trade.com/tradex/ipo/amc_btc at CT they last traded at 0,0006(ken's illeagal forsed selling of ukyos/ukyo loan shareholders/weexchange balanceholders shares) and at CS last price was 0,001 but that price is hardly significant as there only 8 789 stocks listed on CS and i think ACM's plan is to transfer peoples stock from platforms that closed down to CT.
Labcoin on the other hand that you have listed as defunct on CS is delisted https://cryptostocks.com/securities/53.

[Surf Capital Management]

How about an announcement on cryptostocks.com ?

Letting people know you aren't dead or anything...

Thanks

Done.

https://cryptostocks.com/announcements/906

[Surf Capital Management]

Current Holdings:

How about posting NAV n stuffs? Also P/L per security would be very interesting.

Note im not invested in this security and i pretty much know what the numbers will show.

I'm marking the ACTM shares to market at BTC.01/share, which makes NAV ~36.5BTC

Note: These are forward looking statements. Your due diligence is required.

Activemining is not delisted, there still listed on on cryptostocks https://cryptostocks.com/securities/56 and they have relisted on crypto-trade(762 175 out of  25 000 000 shares on the market there so far), https://www.crypto-trade.com/tradex/ipo/amc_btc at CT they last traded at 0,0006(ken's illeagal forsed selling of ukyos/ukyo loan shareholders/weexchange balanceholders shares) and at CS last price was 0,001 but that price is hardly significant as there only 8 789 stocks listed on CS and i think ACM's plan is to transfer peoples stock from platforms that closed down to CT.
Labcoin on the other hand that you have listed as defunct on CS is delisted https://cryptostocks.com/securities/53.

Do you know anything the recent security breach and $30k loss at Crypto-trade? CT shares were very stable, I'm hoping these shares don't nosedive as soon as trading re-opens.

[thy]

Current Holdings:

How about posting NAV n stuffs? Also P/L per security would be very interesting.

Note im not invested in this security and i pretty much know what the numbers will show.

I'm marking the ACTM shares to market at BTC.01/share, which makes NAV ~36.5BTC

Note: These are forward looking statements. Your due diligence is required.

Activemining is not delisted, there still listed on on cryptostocks https://cryptostocks.com/securities/56 and they have relisted on crypto-trade(762 175 out of  25 000 000 shares on the market there so far), https://www.crypto-trade.com/tradex/ipo/amc_btc at CT they last traded at 0,0006(ken's illeagal forsed selling of ukyos/ukyo loan shareholders/weexchange balanceholders shares) and at CS last price was 0,001 but that price is hardly significant as there only 8 789 stocks listed on CS and i think ACM's plan is to transfer peoples stock from platforms that closed down to CT.
Labcoin on the other hand that you have listed as defunct on CS is delisted https://cryptostocks.com/securities/53.

Do you know anything the recent security breach and $30k loss at Crypto-trade? CT shares were very stable, I'm hoping these shares don't nosedive as soon as trading re-opens.

No i don't know much at all about crypto-trade, just checked there site in a few times the last couple of months, diden't even know they lost 30k, reasonable there stock should have taken some dive when such things happens but maby there shareholders is mostly people that bought it a long time ago that don't check there site to often and there was also some big walls up on there stock when i checked there site so maby that preveted those that know about the loss from effecting the price to much. and the fact that they started to pay out dividends in all sorts of coins now instead of just btc or ltc may have confused people even more and the increased trade the ACTM's introduction on the site was probably also seen as a positive thing by the crypto-trade shareholders.
But if your worried about the price on the crypto-trade shares price you could probably just sell them off if there's just 9 in BBBB's possession, that shouldn't have to much negative impact on the price of the stock.

[Surf Capital Management]

Just wanted to let BBBB investors know that I have been in the press lately here in Cincinnati.

1/27 - What's going on with Bitcoin in Cincinnati? (Cincinnati Business Courier)
2/8 - Bitcoin currency gets real for area businesses (Cincinnati Enquirer)
2/26 - It's a bird! It's a plane! It's a Bitcoin billboard! (Cincinnati Business Courier)
2/26 - Does the Bitcoin exchange meltdown have Cincinnati enthusiasts scared? (Cincinnati Business Courier)

[Jasun7211]

Surfs Up!!!

[V2Rocket]

Just wanted to let BBBB investors know that I have been in the press lately here in Cincinnati.

1/27 - What's going on with Bitcoin in Cincinnati? (Cincinnati Business Courier)
2/8 - Bitcoin currency gets real for area businesses (Cincinnati Enquirer)
2/26 - It's a bird! It's a plane! It's a Bitcoin billboard! (Cincinnati Business Courier)
2/26 - Does the Bitcoin exchange meltdown have Cincinnati enthusiasts scared? (Cincinnati Business Courier)

I clicked a few of the links, and did a search for the word "surf," getting no hits.  What's your name, OP?

[Surf Capital Management]

Garrett

[V2Rocket]

Thanks, got it

[Surf Capital Management]

Dividends paid: BTC0.00000172/share

Explanation: I've decided to liquidate the fund's AsicMiner position. I'd like to start diversifying the fund's exposure to different aspects of the Bitcoin economy. I'll be submitting a vote to shareholders to decide which company the fund should start buying shares in next. My thoughts are NEOBEE on Havelock, PETA on Havelock,  and KINETICS on Cryptostocks.

I'm still bullish on Cognitive Mining (Havelock: COG) and want to increase the fund's position in this security. The steady cash flows of mining companies are attractive. However, I am only interested in mining companies that retain a large percentage of mining profits (>50%) to continually reinvest in new hardware to maintain a steady yield. This requires increasing hashrate as the difficulty of the network increases. Diversification into different alt-coins is key too. Cognitive has begun to diversify some of their hardware to mine Scrypt based coins based on their profitability of the coins as measured by the BTC exchange rate.

Eyes to the Horizon: I will be creating a dedicated wallet in which all dividends paid on fund's shares will be held. This will increase transparency for investors. If anyone has any suggestions on which wallet service is most secure for this, please feel free to comment.

#SurfsUp

[nwfella]

Dividends paid: BTC0.00000172/share

Explanation: I've decided to liquidate the fund's AsicMiner position. I'd like to start diversifying the fund's exposure to different aspects of the Bitcoin economy. I'll be submitting a vote to shareholders to decide which company the fund should start buying shares in next. My thoughts are NEOBEE on Havelock, PETA on Havelock,  and KINETICS on Cryptostocks.

I'm still bullish on Cognitive Mining (Havelock: COG) and want to increase the fund's position in this security. The steady cash flows of mining companies are attractive. However, I am only interested in mining companies that retain a large percentage of mining profits (>50%) to continually reinvest in new hardware to maintain a steady yield. This requires increasing hashrate as the difficulty of the network increases. Diversification into different alt-coins is key too. Cognitive has begun to diversify some of their hardware to mine Scrypt based coins based on their profitability of the coins as measured by the BTC exchange rate.

Eyes to the Horizon: I will be creating a dedicated wallet in which all dividends paid on fund's shares will be held. This will increase transparency for investors. If anyone has any suggestions on which wallet service is most secure for this, please feel free to comment.

#SurfsUp

my vote: bitcoin-qt

[Squeaker]

2nd the vote for local wallet... just too risky to do so anywhere else where you don't have personal control of your keys.

Also, as for stocks... I've been buying up some KINETICS myself... tho I didn't put much research into it, the IPO price alone was enough to throw some dust at.

=squeak=

[supermono]

Dividends paid: BTC0.00000172/share

Explanation: I've decided to liquidate the fund's AsicMiner position. I'd like to start diversifying the fund's exposure to different aspects of the Bitcoin economy. I'll be submitting a vote to shareholders to decide which company the fund should start buying shares in next. My thoughts are NEOBEE on Havelock, PETA on Havelock,  and KINETICS on Cryptostocks.

I'm still bullish on Cognitive Mining (Havelock: COG) and want to increase the fund's position in this security. The steady cash flows of mining companies are attractive. However, I am only interested in mining companies that retain a large percentage of mining profits (>50%) to continually reinvest in new hardware to maintain a steady yield. This requires increasing hashrate as the difficulty of the network increases. Diversification into different alt-coins is key too. Cognitive has begun to diversify some of their hardware to mine Scrypt based coins based on their profitability of the coins as measured by the BTC exchange rate.

Eyes to the Horizon: I will be creating a dedicated wallet in which all dividends paid on fund's shares will be held. This will increase transparency for investors. If anyone has any suggestions on which wallet service is most secure for this, please feel free to comment.

#SurfsUp

my vote: bitcoin-qt

I agree. I don't want to see a repeat of the inputs.io fiasco.

[Surf Capital Management]

Investor Update:

Hello All,

Just wanted to keep everybody in the loop.

It looks like ActiveMining lost BTC453 on Mt. Gox. ACTM used Mt. Gox to process their chip pre-orders for those who wanted to pay in Bitcoin. Because of the loss the company will cancel their development of 55nm chips and focus solely on 28nm. In my opinion, this is just another sign of carelessness by company management. Ken Slaughter, ActiveMining CEO, refuses to alleviate the anxieties of shareholders and prefers only one medium of communication, Bitcointalk.org. Slaughter has also refused to offer any more insight about the trading of ActiveMining shares stating that he is waiting for an investigation conducted by the Missouri Securities Division to close. It is my plan to liquidate the Fund's position in Activemining as soon as share trading becomes available again.

Cognitive Mining (Havelock: COG) has struggled to get their CoinTerra machines up and running and are currently running well below their targeted hashrate of 30 TH/s. This is mostly due to hardware malfunctions and power restraints in their hosting facility. Garrett MacDonald, CEO of Cognitive, plans to have the remainder of the Cointerra machines in his possesion within the next week and will have them up and running as soon as possible. Cognitive has recently hired a Public Relations officer, Samuel Kern, and the company has become more responsive to investors' concerns recently. I think this is a good sign and I am still bullish on the stock. I believe the CEO is very intelligent when it comes to mining hardware and I trust that all the hosting problems will be taken care of ASAP.

BTCQuick is another unfortunate failure in the world of Bitcoin securities. The company's CEO is unresponsive and it is still unclear whether or not the company is actually still conducting BTC/USD trading. I'd wish Ascension, the company's CEO, would issue a statement about this because as of now I am writing this investment off as dog-shit.

I have  been in contact with Carnth, administrator of MiningCo.ETF, a small fund of mining stocks traded on BTC-TC and delisted as soon as the exchange shut down. BBBB owns 20 shares in MiningCo.ETF potentially worth 2-3 Bitcoins once the remaining shares are liquidated.

BBBB also owns 30,000 Ripples (XRP). I have been researching how to liquidate this position and convert it to BTC. If anyone has experience with this please let me know and I can pay out the resulting BTC as a dividend to shareholders.

I have contacted Kate Craig-Wood, CEO of CipherMine, a mining collaborative focused on alt-coin mining and security listed on the late LitecoinGlobal exchange. I am trying to confirm the number of shares BBBB owns and am looking into liquidity and trading of these shares. Ciphermine pays Litecoin dividends which I am holding in a Litecoin client and which I will possibly convert to BTC and roll into another asset.

Finally, BBBB has also diversified into domain name holdings. The current portfolio includes rights to SurfCapitalManagement.com, SurfCapitalManagement.info, and CryptoCincy.com. I am in  contact with a domain name trader based here in Cincinnati and am working on a plan to help take his portfolio public. Possibly as a security listed on HavelockInvestments.com. Compensation may include equity in this entity which will be passed on to shareholders of BBBB.

#SurfsUp

-Garrett

[Squeaker]

So nice to have all of this communication lately, after so long with silence. Very reassuring.

Please, keep us posted on developments. Even if you have nothing new to report, just a wave hello and a comment that you're continuing to hold current positions, would be enough.

=squeak=

[Surf Capital Management]

Thank you, Squeaker.

I have been invited to do a radio interview on Cincinnati Public Radio (91.7 WXVU) and in Oxford, Oh (88.5 WMUB) on March 12 at 1pm. We will be doing a segment on Bitcoin giving listeners a basic definition, some history, how the process of using Bitcoin works, etc...

Also, it looks as if BTCQuick is ceasing operations and returning funds to shareholders. This will take place after the credit card chargeback windows have passed, which could take up to six months.  

Over the weekend I was doing some due diligence and like the following securities: IceDrill.Asic, this seems like a transparent operation using HashFast ASICs. The shares are currently illiquid but the company is developing a proprietary trading platform to relist them soon. I'm interested in the development of Scrypt ASIC technology and have spoken to a few people who have pre-orders at Alpha Technology for their Viper Series. I question the legitimacy of this company. However, during my due diligence I stumbled upon this little gem. DigitalCoinFarm (Cryptostocks: DigitalCoinFarm) seems like a transparent operation run out of Taiwan by a few programmers who may or may not have Scrypt ASICs coming soon. More due diligence is required on this one.

PS: Jimmy Wales of Wikipedia has shown some interest in Bitcoin. I have been a long-time proponent of Wikipedia accepting Bitcoin and I think it would be a perfect fit for the company.

[thy]

...
Also, it looks as if BTCQuick is ceasing operations and returning funds to shareholders. This will take place after the credit card chargeback windows have passed, which could take up to six months.  
...

Ascension(BTCQuicks ceo) said after Credit Card and ACH chargeback windows have passed and that it was a 6-12 months period, hopefully they havent lost to much on that, there was also a small dividend after bitfuder closed, 8 satouchi per share that some that haven't registered there shares yet also will get.
We will probably get more information later this week when he presents more details in the coming memo.

[Surf Capital Management]

Hello Investors,

Here is a link to the recent radio interview I had on Cincinnati NPR affiliate WXVU. The show's producer was surprised by the amount of callers and traffic that the interview brought to the website.

Recently, a couple members of the Cincinnati Bitcoin MeetUp group made waves when they announced at the Texas Bitcoin Conference that they had developed a hot wallet that will be iOs compatible. All this in light of the current Apple blockade on wallet apps. Lamar Wilson and Lafe Taylor of 212ths LLC have developed the Pheeva Wallet, a hot wallet implementing "Coin-Ids" which act as personalized avatars used to send Bitcoin to other Pheeva wallet holders. This is a big improvement over having to type out the 32 character alpha-numeric Bitcoin wallet address.

The Bitcoin Emerging Market Fund (BBBB) initiated a position in the Neo & Bee Payment Network  (Havelock: NEOBEE) on 03/07 buying 18 shares. The fund will continue to increase this position in the near term. I love the tangibility of NEOBEE's assets. They have brick and mortar branches and will be providing vital financial services to an area that has traditionally been "under-banked." I must note, however, there is substantial political risk with this investment. We, as investors, do not know how the Cypriot government will act toward a new financial institution like this. This is especially true given the political turmoil occuring in Ukraine and the Crimea region.

The performance of our holdings in Cognitive Mining (Havelock: COG) is disappointing. COG recently received 10th/s of a 28th/s order from Cointerra. The machines have been under-performing (2th/s/unit promised, ~1.6th/s/unit actual) and have been plagued with power cycle issues. Management has also been showing signs of incompetence. This has caused shareholders to raise a motion to liquidate the hardware on eBay and return funds to shareholders. If the motion passes it will surely be the end of COG as the will have depleted their stock of working capital. The fund's cost basis on these shares is in the range BTC.035/share range so we are technically breaking even...

[dython]

just bought my shares while listening to the interview you posted. I think you did a good job of breaking it down for the public. will follow thread, keep us updated

[Surf Capital Management]

Thanks Dython, I appreciate your feedback.

Quick Update:

Ciphermine shares will be liquid once again beginning Friday, March 28th. Ciphertrade is a proprietary trading platform developed by the Ciphermine team. BBBB owns 38 shares of Ciphermine. I don't have any estimate at what the value of the position is, including accrued dividends. The position was initiated when USD/LTC was ~$4 so there has been a nice appreciation in the currency since the position was opened.

As a huge fan and avid listener of Let's Talk Bitcoin I am looking to make an acquisition, for BBBB, of LTBcoin once it goes public. This will allow investors to gain from the appreciation of the LTB network by directly incentivizing the production of high quality content for which the shown is known. Congrats to Adam Levine for his hard work and dedication to crypto-currency education and awareness.

Bitcoin 2.0 applications such as Mastercoin, Bitshares, and the Ethereum project are on BBBB's radar. The fund will seek to take positions in these projects by investing in the individual tokens upon which the projects are based. Bitcoin 2.0 have the potential to open a whole new level of innovation built atop the Bitcoin Blockchain. We are excited for decentralized smart contracts and trustless escrows!
 
Crypto-trade is back up and running. After a brief security breach which cost the company about $30k the site is functional. The 9 share of Crypto-Trade that BBBB owns are intact. ActiveMining shares are also floating on CT's exchange. The current bid of BTC.0007/share values BBBB's ACTM stake at BTC2.1.

Finally, BBBB will be undergoing a large transformation. Co-manager Rob Kelly and I are developing a full fund prospectus which will clearly define the operations of the fund and provide a framework for allocating raised capital. Following the completion of this prospectus we will initiate a secondary IPO on Cryptostocks in which we try to raise an additional BTC100 and justify a total valuation of BTC150 (~$87k). There will also be updates to the Surf Capital Management webpage.

#Surfs UP

-Garrett

[dython]

second the motion to go for LTBcoin, if you want btc/ripple  https://www.kraken.com/

[Surf Capital Management]

*Figures are subject to change.

An official Secondary Offering and Prospectus as well as balance sheets, current positions, etc. will soon follow.

[Squeaker]

Thank you for the clear plan of action for the SPO.

Not sure if allocation so much in the lending field is such a good idea, but I haven't really spent much time looking into that, so I will defer to your research on that. If you believe your plan in that respect, to be a good risk to take, based on your own research, then I'll go along with it.

=squeak=

[Surf Capital Management]

Thank you for the clear plan of action for the SPO.

Not sure if allocation so much in the lending field is such a good idea, but I haven't really spent much time looking into that, so I will defer to your research on that. If you believe your plan in that respect, to be a good risk to take, based on your own research, then I'll go along with it.

=squeak=

Peer-to-peer lending is risky. We can mitigate fraud losses by our due diligence. BTCJam provides great analytics on borrower creditworthiness. We have found that BTC/USD linked loans have a far lower probability of default. The majority of the portfolio will comprise of these.

[Surf Capital Management]

Update 4/12:

We have published our revised Fund Prospectus and information about our upcoming Secondary Offering taking place April 21.

The April 3rd dividend was paid from liquidating 30,000 Ripple (XRP) into BTC and from the remains of our BTCJam and BTC.sx accounts.

[Surf Capital Management]

BBBB International Communication Network

Nederlands
Deutsch
中国的
pyccкий
português
français
עברית

We've been improving our communication with the international Bitcoin community. Take a look!

[vm_mpn]

"The Bitcoin Emerging Market Fund (BBBB) initiated a position in the Neo & Bee Payment Network  (Havelock: NEOBEE) on 03/07 buying 18 shares. The fund will continue to increase this position in the near term. I love the tangibility of NEOBEE's assets. They have brick and mortar branches and will be providing vital financial services to an area that has traditionally been "under-banked." I must note, however, there is substantial political risk with this investment. We, as investors, do not know how the Cypriot government will act toward a new financial institution like this. This is especially true given the political turmoil occuring in Ukraine and the Crimea region."

LOL.... I was laughing so hard I actually fell down from the couch and felt guilty afterwards, so I bought some shares of BBBB... Call me crazy but I would rather be a part of a train wreck than watching it from the outside. Hey, it's how I roll  

[Surf Capital Management]

Company Name: ActiveMining
BBBB Position: 3,050 shares

Outline
Since 2009 the Active Mining Corporation (AMC) has performed crypto-currency mining operations while also manufacturing and selling ASIC devices that are produced through its subsidiary, Virtual Mining Corporation (VMC). Public investors currently own 10 million shares which account for 40% of company profits while AMC owners hold the remaining 15 million shares.

Product Development
The Virtual Mining Corporation produces its own application specific integrated circuit (ASIC) bitcoin mining machines which it classifies under the name of “fast-hash.” A recent developments in VMC's product development was an announcement in late 2013 that they were working with and utilizing eASIC components in their new products. On the 21st of January 2014 AMC announced that they had purchased the intellectual property for the 55nm UMC Bitcoin Mining ASIC. The UMC 55nm ASIC is supposed to represent a more advanced version of the eASIC product and the delivery of the chips is expected in the second quarter of 2014 – the second fiscal quarter of the year began on April 1 but AMC has yet to announce the delivery of the UMC chips. 

Operations
According to VMCs website their current bitcoin mining operations utilize 6 Avalon Batch 2 @ 64 GH/s each for a total of 384 GH/s (source: VMC – About). Bitcoin mining operations were significantly hampered for a few weeks leading into April due to air conditioning problems within AMC. In addition to this temporary setback there has been a great deal of speculation about AMC's ability to remain profitable with bitcoin mining due to increasing costs and difficulty of mining algorithms. AMC CEO Kenneth Slaughter has assured investors that as long as the cost of BTC remains high ($500 +) he will be able to generate strong profits for the company from its mining operations.

Revenue Projections
According to an analysis and projection of mining payout schedules (source: TradeBlock) across all eleven Virtual Mining products the company will have a cumulative return of $91,233 USD by April of 2015. However, the company is also expected to show significantly diminished revenue and profit levels at that point; bringing in $598 and $149, respectively. In the far shorter term a projection of revenues for May of 2014 show a different story. Virtual Mining is expected to bring in a revenue of $119,300 with profits of $118,842 however, the cumulative return for this period will be $95,933 in the red. High fixed and operating costs leave multiple Virtual Mining products unprofitable for the remainder of 2014. According to ActiveMining Corp.'s own financial projections posted on Crypto-Trade they currently have combined liquid assets in excess of $3.4 million and their projections place Virtual Mining profit's to be ~$40 million for 2014.

Share Trading
After the closure of the BTC-TC exchange in October of 2013 ACtM suspended all dividends and became untradeable. In response to investor pressure ActiveMining (AMC) began trading on Crypto-Trade on December 5, 2013 with all shares being publicly listed in January of 2014. Since AMC's appearance on Crypto-Trade there have been no dividend payouts listed. At its initial offering AMC offered a “shareholder guarantee” that promised everyone a payout of 0.0025 BTC before the owners received any dividends on their shares. To-date 629 BTC has been paid out to shareholders which accounts for only 2.5% of the promised amount, there has been no timeline offered for the remaining payout to investors.
 
Controversy
AMC CEO Kenneth Slaughter has been regularly posting updates on the company and responding to investor and customer questions online through bitcointalk.org. His company updates and attempts at reputation management can be found through his personal account: kslaughter. There has been a great deal of online distrust towards AMC because they have yet to reveal the 2013 financial reports. Mr. Slaughter has assured everyone that the company books are currently being looked over by his accountant and the final report will be an audited version of the financial records. AMC has also faced criticism in its delays in processing customer refunds. AMC was utilizing the Mt. Gox exchange to transfer bitcoin (BTC) to fiat currency for the purposes of refunding customer money. Subsequently AMC lost BTC when Mt. Gox collapsed in february of 2014 and they have yet to cover all customer refunds that were requested prior to the loss. Kenneth Slaughter has stated that AMC has been under MSD investigation but has yet to share any real details on the investigation or how long it is expected to take. He has however, frequently skimmed over questions regarding the investigated and stated that he believed coloured coins to be the answer for AMC. 

[Surf Capital Management]

BBBB Secondary Virtual Offering now Live on Cryptostocks

Our secondary round of funding has begun. For more information, including prospectus and offering details, refer to the Cryptostocks page.

[vm_mpn]

Hey, at least you are honest and transparent, and it worth something. Probably pick up a few shares (down with the ship I go)

[serejandmyself]

Sounds like a great idea, ill pick up some shares. Like the transparency bit, and the ecosystem part too.
Keep up the good work guys. Hope you grow fast 

[jerfelix]

Hey, I'm just here to vouch for the guys at Surf Capital Management.



Although I don't have a long history with these guys, I have known the CEO of Surf Capital Management for about a year, in real life.  He heads up our local (Cincinnati) Bitcoin meetups and has represented Bitcoin well in presentations and on radio.  (Here's a link to one radio broadcast http://wvxu.org/post/brother-can-you-spare-bitcoin )

Although I can't vouch for their investment skills (you can read this thread and see their published success rate in the past; they're pretty transparent), I think one risk - the risk of them flaking out and taking off with your bitcoins - is probably minimal.

So yeah, you don't know if I am a paid shill (I am not), but I just wanted to put in a quick word of endorsement.  They haven't let me down yet, and I have a lot of respect for the CEO.

Best of luck to you, Surf Capital Management!

[Surf Capital Management]

NeoBee Statement

BBBB will take a minor loss on this position. Although due diligence was performed, necessary steps were not taken to ensure that the company (NeoBee) would remain solvent following a severe devaluation of the Bitcoin exchange rate. Stress tests need to test the sensitivity of Bitcoin reserves to liabilities  making sure that companies no longer face solvency issues. This is difficult considering the lax reporting standards enforced by the Bitcoin community.  Contrary to prior analysis, the biggest risk Neo faced was not the Cypriot government but internally incompetent management. There is speculation that Danny Brewster, NeoBee's Chief executive, will face legal charges in an unspecified jurisdiction.

[NotLambchop]

NeoBee Statement

BBBB will take a minor loss on this position...

Minor as in "i sold before trading halt," or minor as in "all the coin's gone, but it wasn't much"?

[Surf Capital Management]

NeoBee Statement

BBBB will take a minor loss on this position...

Minor as in "i sold before trading halt," or minor as in "all the coin's gone, but it wasn't much"?

The latter, the book value of the 30 share position was 118 mBTC and is now worth 0.5% percent of that.

[Surf Capital Management]

BBBB received Premium Verification from Cryptostocks.com today. Here are the details:





FYI: Cryptostocks.com is located in Beijing, China

[Surf Capital Management]

BBBB Disclosure: The Fund holds 10 shares of CTB

Company Outline
Crypto-Trade is owned and managed by Esecurity SA, a company providing DDOS protection hosting and VPS services. Crypto-Trade also receives hosting services by another Esecurity SA subsidiary; koDDos. Crypto-Trade.com offers real-time trading of both crypto-currencies and securities. As of May 2014 the website offers 25 different crypto-currency trading options; including their most recent offering of CinniCoin. Under the securities trading section of Crypto-Trade.com shares of the company are being purchased under the title of CTB.  Shares in the company cannot be purchased with fiat currency, they can only be bought and traded with bitcoin (BTC) or litecoin (LTC). The company shares that are not publicly held are owned by three individuals – all of whom are unnamed.

Company Shares
Initially CTB issued their shares in five batches which would account for a total of 50,000 shares; 40,000 in BTC and 10,000 in LTC. According to the CTB website all shares (as of May 1, 2014) have been distributed with 5392 of the BTC being purchased and 3294 LTC shares being purchased. These shares would receive dividends paid out of 50% of the companies profit with the second 50% being retained by CTB for management fees. CTB pays out no other operation costs as all servers operate as a part of the Esecurity SA DDOS protected network for free. As of February 2, 2014 the number of CTB shares in circulation was halved to 25,000. This will represent a doubling of the value of the shares from 0.001% - 0.002%. Despite this recent change in circulation the CTB securities section still lists a total of 50,000 outstanding company shares.

Revenue Projections
Crypto-Trade.com have stated that they are unable to project future dividend payouts for their company shares. However, using the model of an unnamed website as a precedent they attempted to predict payouts. They expected that they will be able to make $25,000 USD per month in profit which would translate to $12,500 USD being paid out to dividends. The CTB shares made a significant jump in value at the beginning of April 2014. Shares had been selling for 0.075 BTC and then jumped to 0.133 BTC at the beginning of the month and held steady ever since.

Hacking & Stolen Funds
In February of 2014 Crypto-Trade.com (CTB) was hacked and lost approximately $30,000 of users money. This attack came quickly on the heels of the attack on MTGOX and led to speculation that CTB also fell victim to an issue of transaction malleability. On February 19th CTB confirmed on their website that they had been attacked and that it was a a transaction malleability issue. At the advent of the attack the entire website was temporarily suspended while the attack was investigated. CTB quickly pledged to reimburse all customer losses out-of-pocket and once trading resumed all funds were returned to customers. In April of 2014  Crypto-Trade.com was also found to be susceptible to the heartbleed bug. Withdrawals were halted for 12 hours while the proper updates and testing was completed – there were no reported incidents related to losses of data from the heartbleed bug.

Future Developments
Crypto-Trade.com has released information that a “Crypto-Trade V2” is in development and it will address a number of issues that customers and shareholders have brought forward. A recent tweet from the company profile (@Crypto-Trade) states that V2 should be released on the 4th of May, 2014. *Note: May 4, 2014: the update has yet to be released.

Contact Information
+852 3750 7973
Level 23, One Island East
18 Westlands Road
Quarry Bay, Hong Kong

[junkonator]

You fail to mention that Esecurity SA hasn't paid dividends for quite some time now. CTL is generally cheaper than CTB but pays out the exactly same dividends. I have been in contact with people from CT and they have been fair, buying back the single-digit amount shares on cryptostocks back when ESEC was listed there.

[Jasun7211]

Good move my friend,  

I really like C-T they are going to start an ad campaign in the next couple weeks which will really boost vol.  Cdev, Grinny, Neotrix and Co. are a 1st class group.  They get a little overwelmed sometimes, but the price the C-T shares are at now are a real bargin.  Divs are excellent as well, and re-gaining their former payouts.  It personally is my favorite exchange.  You should ask Grinny to offer some IPO shares on C-T.

Good move riding this wave!!!!.  

BBBB here I come

[Surf Capital Management]

Secondary Offering Update: Funds raised from the BBBB secondary offering have been withdrawn and placed in a wallet not associated with Cryptostocks.com

1KYQwUw2fDBDankZwq2km5CR65wZM1nQqz

[nwfella]

Secondary Offering Update: Funds raised from the BBBB secondary offering have been withdrawn and placed in a wallet not associated with Cryptostocks.com

1KYQwUw2fDBDankZwq2km5CR65wZM1nQqz

And why pray tell would that be?  Secondly, why is it only ~2.13BTC?!?!  Shirley you have more than that left over from initial IPO?!?!

[Neo.op]

I cant seem to find returns charts anywhere on the site, anyone can point me in the right direction?

[Squeaker]

Well, the SPO seems to have stalled hard... (I won't call this an IPO... BBBB has already had an IPO... this is an SPO) (not to be anything negative about BBBB itself, it just bugs me when the wrong terms are used)

=squeak=

[Surf Capital Management]

The IPO flag has been lowered and trading will resume as normal.

The Secondary offering was less than stellar selling 18,532 shares and raising 2,223.84 mBTC.

Current Accounts and Positions:

BTCJam
Ciphertrade
Crypto-Stocks BBBB Admin Acct
Crypto-trade holdings
Havelock Investments
Litecoin Address
MiningCo.ETF - BBBB owns 20 shares
Quebecoin wallet
Additional funds raised from SVO

[Surf Capital Management]

If any accountants out there want to synthesize the information from the preceding post and create a simple balance sheet I am willing to pay a few mBTC.

[nwfella]

e-mailed you a really rough draft ODS file with most of the base value(s) plugged in that I could determine at a glance.  Hope it helps.

[ddepker]

Maybe I missed it, but when do dividends pick back up?
What is the overall status?

[Squeaker]

BBBB guys... it has been a while, we could use some kind of update.

=squeak=

[Surf Capital Management]

BBBB guys... it has been a while, we could use some kind of update.

=squeak=

Surf Capital Management is responding to a voluntary inquiry from a United States federal regulatory body. More information will be posted as it becomes available.

As always, additional information can be obtained by calling +1-855-483-2776.

[Squeaker]

Surf Capital Management is responding to a voluntary inquiry from a United States federal regulatory body. More information will be posted as it becomes available.

As always, additional information can be obtained by calling +1-855-483-2776.

Lovely... and I read this note, right after casting my vote on this poll --> http://politix.topix.com/debate/14251-does-the-federal-government-have-too-much-power-at-the-expense-of-the-states

Guess how I voted.

They gotta stick their noses into every damned thing... ugh...

=squeak=

[vm_mpn]

Any news? As long as it's not 25 to life without possibility of parole any news are welcome

[Surf Capital Management]

Any news? As long as it's not 25 to life without possibility of parole any news are welcome

I submitted ~150mb of information on a flash drive to (1) the investigating attorney and (2) the SEC central processing unit in Washington, D.C. The information contained proprietary research on various crypto-currency related ventures as well as information about the shareholders of BBBB (disclosed e-mail addresses) as well as some personal documents. The SEC attorney requested additional information concerning certain accounts (Havelock, Crypto-trade, etc.). The additional information was again sent via flash drive to the investigating attorney on 11/4. Since then, I have had no further correspondence with anyone at the SEC.

[vm_mpn]

Any news? As long as it's not 25 to life without possibility of parole any news are welcome

I submitted ~150mb of information on a flash drive to (1) the investigating attorney and (2) the SEC central processing unit in Washington, D.C. The information contained proprietary research on various crypto-currency related ventures as well as information about the shareholders of BBBB (disclosed e-mail addresses) as well as some personal documents. The SEC attorney requested additional information concerning certain accounts (Havelock, Crypto-trade, etc.). The additional information was again sent via flash drive to the investigating attorney on 11/4. Since then, I have had no further correspondence with anyone at the SEC.

Sounds just about right... A wild-goose chase. Thanks for the update. Providing everything will clear up with an inquiry keep us posted on what's happening with the fund if you haven't given up on the whole thing.

[Surf Capital Management]

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[Surf Capital Management]

To Whom May Find Interest:

The SEC has decided to end their investigation of Surf Capital Management and The Bitcoin Emerging Market Fund.

[vm_mpn]

To Whom May Find Interest:

The SEC has decided to end their investigation of Surf Capital Management and The Bitcoin Emerging Market Fund.

My compliments Garrett... Not a green light but not a red one either... Lets call it a Yellow... lol. What does your attorney tell you?

[Squeaker]

Does this also free you up to discuss the action that was taken up until now or are you still gagged?

=squeak=

[Surf Capital Management]

My compliments Garrett... Not a green light but not a red one either... Lets call it a Yellow... lol.

I agree with your interpretation.

What does your attorney tell you?

I am my attorney 

[vm_mpn]

I am my attorney  


Wow... That's impressive.  

[Surf Capital Management]

Does this also free you up to discuss the action that was taken up until now or are you still gagged?

=squeak=

I was never gagged, per se. I just felt it'd be better to remain quiet.

The action was a voluntary request to produce information regarding Surf Capital Management and BBBB. Apparently, the SEC agents saw a version of the BBBB prospectus I had posted on LinkedIn and thought it was enough to investigate whether or not "violations of federal securities laws had occurred." So, after numerous phone calls and hours of producing documents they decided that they had bigger game to hunt. Therefore, ending their investigation.

I worked closely with Philip Moustakis, who is head of the new SEC "Digital Currency Working Group," a sort of gov't task force set up to prosecute Bitcoin securities fraud. I also worked with another SEC attorney in Chicago, David Benson. I won't say it was a pleasurable experience - and it definitely didn't help that I was unable to access financial documents from the GLBSE and BTC-TC, etc. What the SEC didn't realize is that their intimidation of the 'little guys' here on Bitcointalk is causing innovation in this area to cease. The p2p Bitcoin financial markets in 2009-2012 were way more robust than they are today.

[Squeaker]

Good enuf... the lack of info during the process left a lot of room for speculation.

So, we can count on getting a 600% return this year, or perhaps only 500% now? (kidding)

=squeak=

[twentyseventy]

To Whom May Find Interest:

The SEC has decided to end their investigation of Surf Capital Management and The Bitcoin Emerging Market Fund.

Glad to hear that; good to see that they realize that there is 'bigger game to hunt'. I agree with your comment that is a contributing factor to stagnation in this burgeoning area.

[NotLambchop]

...stagnation in this burgeoning area...

Or burgeoning in a stagnant area.  Keeping in touch with ABitInterested?

[Surf Capital Management]

Due to the closure of Crypto-trade.com I am giving away some of the less liquid coins, held in the BBBB account. The rest are being liquidated to BTC and paid out as a dividend.

Available, FOR FREE, on a first come, first serve basis (preferably BBBB shareholders if they provide their email address they've disclosed on Cryptostocks.)

BLACKCOIN - 0.2
CARBONCOIN - 1100
BITSTARCOIN - 0.016
DIGITALCOIN - 0.21
ULTRACOIN - 1.27
PRIMEXI - 0.80

***The site will go offline on 29th January 6:00 UTC. All requests must be made before then.

[Surf Capital Management]

What happened to Cryptostocks.com?

[AcoinL.L.C]

I can still reach cryptostocks?

[Surf Capital Management]

I can still reach cryptostocks?

Yes, it is back now.

[winxp11]

We're sorry, but something went wrong.

[Surf Capital Management]

We're sorry, but something went wrong.

its been down again for quite some time

[winxp11]

Permanently disabled cryptostocks.com bad for Cryptsy IPO reputations

[winxp11]

cryptostocks.com   now enable