Quote from: AcoinL.L.C on November 04, 2014, 09:15:57 PM

So... They are paying people back .00045BTC when they charged them .001BTC for the share. Considering that they are a fund that kept everything in BTC, this is incredibly fraudulent, as there is no reason the value of the fund should have changed (other than investments in companies, however they haven't invested in many startups, leading to the obvious conclusion they are still retaining a significant amount of BTC on hand).

It's actually fairly ingenious for a scam.
Step 1) create a fund that does essentially nothing, but you've got a clause in there that you can buy back shares based on 30-60 (etc) day moving average, 2) pretend that you're actually doing something for a little bit, 3) cease all activity for a time greater than a multiple of 30-60 days, so that by that time most investors had dumped their coins and crashed the price, 4) magically come back and take advantage of the clause, using the IPO funds to buy back all the shares at the dirt cheap average price.

With an IPO raising BTC2,000, and a buyback of BTC900, that's not a bad haul for 11 months of doing nothing.