Quote from: DrGregMulhauser on August 23, 2013, 01:23:38 PM

Quote from: tyrion70 on August 23, 2013, 11:40:17 AM

...I read your words as being very condescending. In Dutch if you refer to a third person like you did, it's considered quite offensive...

I intended specifically to refer to more than one person; I intend whatever I write here to be of use to whoever happens along to read it. If any potential participants feel they need individual private consultation, this is not the place for it.

Quote from: tyrion70 on August 23, 2013, 11:09:49 AM

...As a UK limited company you will have to keep proper records of your profits (management fees) because you have to pay taxes on that...I conclude that you have no obligation whatsoever to keep records of bitcoin denominated assets...

Your conclusion is not only erroneous, but grossly so. Basic accounting does not permit companies simply to whip up some profit statements out of thin air, unsupported by detailed records, including detailed records of assets, liabilities, and just about everything else.

Quote from: tyrion70 on August 23, 2013, 12:54:14 PM

...This means you only have to report a short balance sheet and turnover is not even required?

Again, your conclusion is not only erroneous, but grossly so. (Not to put too fine a point on it, but we're now descending into the absurd: how do you imagine a company would even begin to report taxable income by reporting only a balance sheet? It's a rhetorical question: I am not looking for a reply.)

More generally, I hope that you and any other interested readers will appreciate that this thread was opened before the fund launched, specifically with the intention of providing a venue for anyone with an interest to ask questions, make suggestions, and evaluate for themselves what was being proposed. (And it certainly was not opened to provide an ongoing opportunity for tutorials on basic accounting or UK law.) I put a great deal of time and effort both into the preparation of the original listing document and into the discussions which took place on this thread before the fund launched.

However, the fund has now launched. As you will hopefully appreciate, that means I now have one or two things that are occupying my time with regard to actually managing the fund -- an activity which I consider altogether more pressing than investing yet more of my time here on the forum, re-hashing the same questions which were already discussed before the fund launched.

Re-hashing the same types of questions represents a direct subtraction from the time that I can spend actually managing the fund: it is, in a very real sense, a direct drag on the returns of the fund. I understand that since you are looking to launch a fund of your own, it would naturally be in your interest to occupy my time as much as possible with extended discussions about basic accounting and even your accusations that I am "making it very easy to run a Ponzi out of this". But I hope you will appreciate that my willingness to engage in this exercise is severely limited, and in my eyes this exercise is directly contrary to the interests of those of us who are actually participating in the fund -- including me.

Maybe my reluctance to take time away from fund management for re-hashing or for discussing basic accounting sheds some light on why my first response to many questions is going to have to be "RTFM" or even just simply to remind potential participants of what it already says in the listing documents: if the information which I have already spent a great deal of my time providing is in any way insufficient for your needs, then do not participate.

SHOTS FIRED. Greg doesn't mess around, damn. Do your thing Greg, go forth and earn BTC!