Author Topic: [Litecoininvest] Credit Providing Investor Fund (CPIF)  (Read 15316 times)

Offline cpif_admin

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[Litecoininvest] Credit Providing Investor Fund (CPIF)
« on: July 28, 2014, 09:57:43 AM »
I am pleased to announce the Credit providing Investor Fund!

About the Company:

The Credit Providing Investor Fund is the first of various products that Cipher Investments will launch. Cipher Investments is the holding company of CPIF and will provide all funding needed to launch CPIF. Cipher Investments will also buy a certain amount of IPO shares in CPIF, so as to bootstrap the launch. Note that the shares listed here are in CPIF and not in Cipher Investments.

Cipher Investments has been going for a small while (3 months) while CPIF is almost brand new. Note that the POC for this project has been running a while and this is my first company/fund listing.

Initial offering:
Number of shares: 100000
Price per share: 0.1 LTC

Dividends:
90% of the interest earned on the capital will be paid out monthly to shareholders; the rest will be paid as fees to the fund manager. Monthly pay outs will save on fees and admin.

Contact Info:
Email: [email protected]
Website: http://cipherinvestments.co.za/cpif

Update 1:
1) Please note that in terms of share buying, this update is overridden in update 2.
2) Please note that On 19 April 2015 CPIF stopped trading on Litecoininvest and moved to Counterparty which is a decentralised protocol with a wallet that serves as a trading platform.
3) Unfortunately CPIF shares will have to be bought/sold via XCP and not BTC or LTC. Right now the easiest way to overcome this problem is to use shapeshift.io which makes converting between cryptocurrencies much less a pain.
4) Dividend payments will be done in BTC, which we think is preferable to XCP.
5) A new website is now live. We hope to add a lot of information in the near future regarding Cipher/CPIF on here that will attract new investors.

Update 2:
1) Please note that this update overrides update 1.
2) Buying shares with XCP was too much a hassle and we have now opted to not list shares on counterwallet.
3) Please look at the steps below for the buying and selling of shares:

Steps for buying/selling shares:
1) Create a wallet/account at Counterwallet.io
2) Deposit some BTC in your account if you want to buy shares.
3) Send an email to [email protected] asking what the current NAV/Unit is and what the current buy in price is. The NAV/Unit and buy in price will be tied to the current exchange rates.
4) After [email protected] replies with the NAV/Unit and buy in price, send the amount of BTC to 1HwUqsR5i8e5H9aPvkJtYgwYG6dd5Laht6 (this address will be in the email from [email protected]) from your counterwallet wallet.
5) CPIF will then send you the correct amount of shares, according to a buy in price calculated with the current exchange rate.
6) The above process is the same of selling/redeeming shares.
« Last Edit: July 12, 2015, 09:27:57 AM by cpif_admin »

Offline Ethera

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    • Litecoininvest - litecoin investment platform
Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #1 on: July 28, 2014, 09:53:56 PM »
All personal data has been provided and stored to the beneficiary of investors in case it is needed.

Neil

Offline cpif_admin

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #2 on: July 29, 2014, 06:08:42 AM »
All personal data has been provided and stored to the beneficiary of investors in case it is needed.

Neil

Thanks Neil

Offline petermunnings

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #3 on: August 05, 2014, 07:38:37 AM »
Done a fair amount of research on various crypto-securities and been burned by a few scammers.  This company certainly has a solid investment strategy and is not promising the world.  Looks like a good one to add to my portfolio.

Offline turbooster

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #4 on: August 07, 2014, 03:18:26 PM »
cpif_admin can you please tell me what platforms you are planning to use or are using and what percentage of the funds' capital will be converted to other currencies?
Secondly: What will happen if you lose some or all of the funds?

Offline cpif_admin

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #5 on: August 07, 2014, 06:07:41 PM »
1) While CPIF is busy raising funds, the choices where to place the funds is pretty limited to places like BitFinex. CPIF is busy looking at other platforms, but CPIF is not happy with any other so far. Note that this is only while the fund is busy raising capital so that CPIF can approach bigger clients. Once that point is reached, CPIF will put it to a shareholder vote as to how to proceed and which clients to go forward with.

2) The funds' capital currently sits mostly in USD, but this will keep changing. CPIF is looking at buying LTC/USD/BTC options so that the fund has the option of converting back to LTC should it wish.

3) As stated in the contract: "Note that in the event that the platforms/exchanges used defaults in any way, no one other that the respective platforms/exchanges are liable for any loss of funds." However, CPIF is liable for funds lost due to mismanagement on its part.

If you have any other questions or concerns, please don't hesitate to ask.

Offline turbooster

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #6 on: August 07, 2014, 07:25:35 PM »
Thanks for the answer. Where do you buy options? Are you in all three LTC BTC and USD markets on bitfinex? What other margin-trading/lending sites are there?

Offline cpif_admin

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #7 on: August 07, 2014, 08:12:17 PM »
CPIF is still investigating platforms to buy LTC/USD/BTC options on and have not found a suitable platform. As an alternative, Cipher Investments might look at starting a method of providing options to CPIF at first and then at a later stage to the broader market.

CPIF is currently (as of writing this) mainly exposed to the USD swap market on BitFinex, however this might change rapidly with the BTC/LTC/USD swap interest rates. CPIF is actively managed and will stick to its mandate of seeking interest rates that justify the risk taken. Note that CPIF will never speculate on where the market is going to move as this is in contrast to what its mandate is. Nonetheless, it will endeavour to minimise the impact of negative market movements by diversifying its funds across multiple currencies and/or through obtaining options, if possible.

There are quite a few "margin-trading/lending" platforms out there, here are a few: https://bitcoin-trader.biz/, https://bitlendingclub.com/ and http://bitcoin-otc.com/

Offline cpif_admin

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #8 on: August 11, 2014, 06:47:31 AM »
Just a quick update on how CPIF is doing as at the end of 2014/08/10:

Raised funds: 44.8 LTC
Funds under management: 48.87LTC
Interest accrued: 0.2875 LTC

If you have any questions, please don't hesitate to ask.

Offline cpif_admin

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #9 on: August 18, 2014, 05:31:38 AM »
CPIF as at the end of 2014/08/17:

Raised funds:  64.4LTC
FUM: 102.64LTC
Interest accrued:  0.9281LTC

Regards,
Coenie

If you have any questions, please don't hesitate to ask.


Offline cpif_admin

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #10 on: August 25, 2014, 05:12:53 AM »
CPIF as at the end of 2014/08/24:

Raised funds:  65.7LTC
FUM: 81.36LTC
Interest accrued:  0.9778LTC

If you have any questions, please don't hesitate to ask.

Offline cpif_admin

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #11 on: September 01, 2014, 06:22:07 AM »
Dividend payment for August:

Raised funds: 68.2LTC
FUM: 91.613LTC
Dividend paid: 1.342LTC

If you have any questions, please don't hesitate to ask.

Offline cpif_admin

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #12 on: September 04, 2014, 10:42:00 AM »
CPIF wants to propose a contractual amendment and would like to know if there are any objections. If there are, then it will be put to a vote.

CPIF wants to add the option for shareholders to exchange shares for LTC in addition to the offers placed on Litecoininvest. The LTC per share will be determined as follows:

LTC per share = min(market cap, FUM)/(outstanding shares)

Using the previously announced Raised funds (equivalent to the market cap in this case) and FUM:

LTC per share = min(68.2, 91.613)/682 = 0.1 LTC

The process for exchanging shares for LTC:
1) Email CPIF on the first day of a month, directly after a dividend payment, with how many shares you would like to exchange.
2) After CPIF responded to your email, send your shares to CPIF, take a screenshot and send that to CPIF as well.
3) The numbers used in the above calculation will be as at the time of CPIF receiving your shares.
4) CPIF will then start getting the required LTC together. This will take approx. 1 month.
5) On the last day of the month, before the dividend payment, CPIF will then send the LTC to your Litecoininvest-associated wallet address.

In summary, you will lose out on one dividend payment, however you will have access to your funds through other means than what the market offers on Litecoininvest.

Please let me know what you think.

Offline petermunnings

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #13 on: September 04, 2014, 12:01:04 PM »
I assume this is to reassure investors that they can always get their money out.  Unlike many other Crypto currency based stocks.

Offline turbooster

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Re: [Litecoininvest] Credit Providing Investor Fund (CPIF)
« Reply #14 on: September 05, 2014, 12:12:01 PM »
LTC per share = min(market cap, FUM)/(outstanding shares)
Sounds like a fair deal. It protects the people that want to stay in the fund by including FUM in min(). If LTC is appreciating quickly, though, one can't get out of CPIF (at least probably not above market-price). If LTC appreciates and stays at a high level, like in the rallies we have seen before it could mean significant losses for holders though.

You should really extend the period in 1) to include the whole first week though. Also in 3) you should consider offering the fixed rate from the reporting after the dividend, otherwise ppl changing will have to do so blindly because from the outside one can only educated-guess the FUM.