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bitFORTUNE White Paper

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White Paper bitFORTUNE Description

bitFORTUNE is a cryptocurrency designed to achieve

bitFORTUNE is a cryptocurrency designed to achieve comprehensive exposure in the cryptocurrency market by holding a single token. This token is created to accommodate novice investors lacking the time and/or know-how to research and setup a diversified portfolio and also as an addition to the already sophisticated investor’s portfolio.

bitFORTUNE is designed to store value and seeks to generate profits over time by buying and holding and trading cryptocurrencies. Expert research is done for all assets in the bitFORTUNE portfolio and special emphasis is on looking for “sleeping giants” in the market that may reap extraordinary profits in a short time. Sophisticated automated trading algorithm(s) custom built across selected major exchange(s) seek to keep building value of the token.

Investors may place their bitFORTUNE tokens for sale on the bitFORTUNE exchange at any time to realize the value of the token in Bitcoin as described in the bitFORTUNE Profit section of the bitFORTUNE White Paper.

The bitFORTUNE portfolio and statistical data is available at all times here. The bitFORTUNE exchange on the BitShares platform is here.

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White Paper bitFORTUNE Inspiration

bitFORTUNE Inspiration

bitFORTUNE is inspired by the cryptocurrency revolution.

Centuries past the medium of exchange has been centralized by the few elite. In the modern era fiat currency issued by Federal Reserve Banks operates as a monopoly. This monopoly inflicts financial tyranny operating by the fractional reserve banking model that is unsustainable.

Every century sees some extraordinary advances by the human race. In the 20th century automobiles, industry, space travel, computers, and internet radically changed the World among other things. This century, the 21st century, among the extraordinary advances we will witness is cryptocurrency. A reformation of the medium of exchange for the human race, decentralized currency and applications.

Cryptocurrency is a mile-stone in the evolution of the medium of exchange for mankind. The invention of Bitcoin has given rise to the cryptocurreny market that is a competitive market for the medium of exchange. This is in stark contrast to a monopoly. We know from economics that competitive markets are good for the consumer, we the people.

Naturally, hundreds of billions of value in fiat currency has flowed into the cryptocurrency market yet there is hundreds of trillions of fiat currency in circulation internationally. It is anticipated here that in the coming years tens of trillions of fiat currency value will channel into cryptocurrency. Knowing this we want to position ourselves in the cryptocurrency market with comprehensive scope. Diversifying together we can cover the most ground and exploit all opportunities, not just a sub-set that we may achieve alone.

Considering all this bitFORTUNE is born to be the vehicle to exploit this never-before-seen opportunity in the history of mankind. Together we will experience cryptocurrency evolve, radically change the World, redistribute the wealth in society, liberate masses of people from financial tyranny, challenge governments, deflate the power of the banks, and we may also seek to make a fortune at the same time, a bitFORTUNE.

This is revolution.

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White Paper bitFORTUNE Potential

bitFORTUNE Potential

bitFORTUNE is a one-of-a-kind opportunity in cryptocurrency space exploiting the potential profit from buying and holding a vast spectrum of cryptocurrencies and employing perpetual automated trading.

Every bitFORTUNE token in circulation is backed by a stake in the bitFORTUNE portfolio. The performance of the bitFORTUNE portfolio dictates the value of all bitFORTUNE tokens in circulation. bitFORTUNE is a long term project. bitFORTUNE is dedicated to researching all cryptocurrency assets and expanding all aspects of the portfolio over time. bitFORTUNE is a “one stop shop” for those wanting expert exposure of their funds to the cryptocurrency market but lack the time to research thousands of coins, stay up to date on all changes effecting the market, and/or to custom build or invest automated trading bots. It is speculated here that bitFORTUNE may sit as one of the top one hundred coins in the entire cryptocurrency market in time.

It is anticipated here that the cryptocurrency market will explode in the coming years. This is due to cryptocurrency evolving a competitive market for the medium of exchange, contesting the current financial industry, providing better options than fiat currency, evolving decentralized application technology…just to get started. These innovations are revolutionary in modern times being decentralized in nature, they cannot be shut down, regulated, terminated, seized or controlled. bitFORTUNE is here to exploit this opportunity.

The bitFORTUNE buying and holding strategy is to have a strong baseline in the most stable coins and from there expand across cryptocurrencies with potential. This strategy seeks to achieve comprehensive scope across the cryptocurrency industry. Sunday, January 1st 2017 the total market capitalization of the cryptocurrency market was approximately $18,300,400,000. Exactly one year later on Monday, January 1st 2018 the total market capitalization of the cryptocurrency market was approximately $598,529,000,000. This is a staggering 3,170.57% increase in value in just one year! It is anticipated here this will happen again. The next time – the goal of bitFORTUNE is to capitalize on this growth. bitFORTUNE investors pooling value together allows for vast scope across many assets in the cryptocurrency market. This increases the probability of having funds invested in an asset that dramatically increases in value in a short time. It is not uncommon in cryptocurrency for assets to skyrocket over night 10 times, 50 times, or even increase in value thousands of percent. For just $1,000 invested in a cryptocurrency that increases in value 2,000% will yield an increase in the portfolio value $2,000,000. In the event this occurred for an asset in the bitFORTUNE portfolio this value would be distributed to all bitFORTUNE tokens according to the bitFORTUNE value calculation as described in the bitFORTUNE Value section of the bitFORTUNE White Paper. Additionally in the event an asset in the bitFORTUNE buying and holding portfolio skyrockets this value will be locked into the portfolio by employing the re-balancing strategy as described in the bitFORTUNE Diversification section of the bitFORTUNE White Paper.

bitFORTUNE automated trading strategies are designed to increase USD value of the portfolio. Algorithms are employed by bitFORTUNE attempting to increase USD revenue by way of the cryptocurrency market. This may be done across all major exchanges meeting the security requirements of bitFORTUNE. All realized gains are distributed to bitFORTUNE tokens as described in the bitFORTUNE Value section of the bitFORTUNE White Paper. In the event of market spikes the value trading per cryptocurrency may yield returns 5 to 10 times or greater per asset trading. Over time more algorithmic trading will be employed across additional major exchanges meeting the security requirements for bitFORTUNE investment funds. These algorithms are also subject to enhancement for increased performance as the cryptocurrency market evolves revealing those strategies to employ. bitFORTUNE trading operates 24 hours a day, 7 days a week.

bitFORTUNE will take you there.

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White Paper bitFORTUNE Decentralization

bitFORTUNE Decentralization

bitFORTUNE is a cryptocurrency. Inherit of all cryptocurrencies is that they are decentralized. This means that bitFORTUNEs have no central authority, cannot be regulated and once created can never be destroyed apart from the internet itself. The bitFORTUNE token is created on the BitShares platform which also has these same properties and more…

BitShares Logo

BitShares is one of the most sophisticated cryptocurrency platforms in existence. BitShares is an open-source, public, blockchain-based, real-time financial platform. BitShares provides a decentralized asset exchange – similar to the NYSE but is for cryptocurrencies. BitShares facilitates trading using an international network of computers that anyone can take part. The BitShares platform provides a cryptocurrency token called BitShares (BTS) which is the primary asset of the platform, can be transferred between accounts, is used to collect fees for network operations, and is used as a collateral for loans. The BitShares platform is also equipped with payment gateways that makes it very easy to move various currencies to and from the platform instantly at will.

BitShares may be of the most competitive scalable form of digital payment in existence – theoretically able to handle 100,000 transactions per second. In comparison Visa and MasterCard has a maximum capacity of approximately 24,000 transactions per second. Other features of BitShares includes no deposit or withdraw limits, impenetrable security, low fees, the capacity to trade literally anything, the ability to create assets including marked pegged assets that are pegged to external assets, and a lot more features that is out of scope here. For more information about BitShares properties visit here.

The BitShares platform provides a decentralized exchange for bitFORTUNE. This gives utmost security to holding bitFORTUNE tokens as they are not governed or regulated by any authority, they cannot be destroyed, all transactions are anonymous, no entity has the power to “seize” or shutdown bitFORTUNE holdings, and the exchange on which bitFORTUNEs are traded naturally inherits these same properties.

The bitFORTUNE exchange on the BitShares platform is here.

Exactly how to create a BitShares account, back up your account and purchase bitFORTUNE tokens is explained here.

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White Paper bitFORTUNE Distribution

bitFORTUNE Distribution

bitFORTUNE is backed by value, every single one of them. Every bitFORTUNE token in circulation has the value transferred into the bitFORTUNE portfolio. The founders of bitFORTUNE received zero pre-mined bitFORTUNE tokens. Founders must also purchase bitFORTUNE tokens on the exchange as every other investor. This ensures all tokens in circulation have integrity.

Those who purchase bitFORTUNE are buying a partial interest into a collection of assets and profiteering strategies in cryptocurrency space. This has implications for how the token is sold and bought back to profit share with investors on the bitFORTUNE exchange by the bitFORTUNE administrative account. Most cryptocurrencies are re-priced constantly based on supply and demand influences. bitFORTUNE is priced differently however than typical cryptocurrencies. Net asset value is the value of bitFORTUNEs that is a calculation of all fund assets minus liabilities, divided by the circulating supply which yields a per-token price. Typically this is the price investors buy and sell bitFORTUNE tokens at. The market value of the bitFORTUNE holdings changes every day and must be recalculated. The bitFORTUNE White Paper section titled VALUE is dedicated to explaining the calculation of the net asset value of bitFORTUNE. Investors may still trade above or below the market price of bitFORTUNE as calculated by the administrative account. Typically a finite number of coins/tokens are available for most cryptocurrencies. bitFORTUNE will issue as many tokens as speculators want to buy however, up to 1 billion maximum supply. This property allows the fund to grow for all those interested in following the strategy of the bitFORTUNE portfolio.

For distribution of bitFORTUNE tokens the bitFORTUNE administrative account will maintain one sell order on the bitFORTUNE exchange at any given time. This will allow new investors to purchase the token at any time at will. The maximum tokens for sale per day will be variable based on calculations against the total circulating supply of bitFORTUNE tokens. This maximum is set to ensure that sudden radical changes in the price of the token is not artificially inflated or diluted by a large purchase of the token after the fact. Each day the sell order will be updated by the administrative account to reflect the new price per token and replenish the sell order back to the maximum tokens per day. The bitFORTUNE White Paper section titled PROFIT is dedicated to the corresponding buy order on the exchange that is maintained by the administrative account for profit sharing with investors.

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White Paper bitFORTUNE Diversifiction

bitFORTUNE Diversification

bitFORTUNE achieves diversification by buying and holding cryptocurrencies and maintaining perpetual automated trading. To achieve this diversification is a great deal of work including intelligent asset analysis and implementations requiring high technical proficiency.

Most people have a great lack of time as their lives are full and busy. It’s a challenge to balance work, family, recreation, and then still find time for other pursuits. bitFORTUNE is designed especially for these people to give them a stake in a diversified and dynamic cryptocurrency portfolio by holding just a single token.

For each asset in the bitFORTUNE portfolio a great deal of analysis is performed. The work involved to speculate on just a single asset includes studying the white paper, understanding why the asset was created, the project and its status, the team, understanding the competition in the sector the asset is in and their status, the underlying technology of the asset versus other technologies, ect. Automated trading bots are built from scratch across major exchanges. The technical proficiency to achieve this is backed by formal education including computer science and engineering. Custom built trading bots are completely original and are never distributed to the public as this would degrade algorithm performance due to saturation of the execution of the algorithm in markets. bitFORTUNE does all of this work for a comprehensive portfolio and a lot more.

For all bitFORTUNE tokens purchased the value is distributed to the bitFORTUNE portfolio per the following specification:

bitFORTUNE Token Value Distribution

The percent Administrative Value allocation from the Token Value Distribution is approximately sub-divided per the following specification:

bitFORTUNE Administrative Value Distribution

Part of the methodology employed here for classifying assets categorizes them as low, medium or high risk. Making this determination involves multiple metrics including the life span of the asset, the user base, price movement, the sector of cryptocurrency space the asset belongs, project completion or time to completion, speculation of successful entry to market, etc.

Low risk assets typically have their project completed, have a steady user base, steady price movement relative to total market capitalization, and expected utility will be either maintained or increase. Medium risk assets may be projects with solid teams and projects that look to fill a gap in the market or be very competitive yet still have not completed their project and proven that it is operational in practice. High risk assets include projects that could spike extraordinarily yet also plummet violently due to business model instability. High risk assets may also include brand new coins/tokens/platforms that recently entered the market and look very favorable yet could also fail. It is not uncommon in cryptocurrency for assets to 5x, 10x, …, 100x, 500x, or even increase in value in the thousands of percent in a short time. Some of these extraordinary price movements come out of medium and high risk area. For this reason the bitFORTUNE portfolio does not exclude medium and high risk assets. In contrast these assets that could potentially skyrocket are actively pursued. Considering all this to keep the portfolio stable and profitable while also taking some risk for extraordinary gains the risk distribution of the portfolio is approximately allocated per the following specification:

In the event an asset in the bitFORTUNE portfolio skyrockets this value will be locked into the portfolio by re-balancing some percentage of the value of the asset. Re-balancing here means that a percentage of the asset value will be sold and those funds redistributed in the portfolio. The following re-balancing will occur per the specified price fluctuations within a specified time period:

  • Asset increases in value [5x, 10x]; re-balance 20% of asset value
  • Asset increases in value [10x, 20x]; re-balance 30% of asset value
  • Asset increases in value [20x, 30x]; re-balance 40% of asset value
  • Asset increases in value [30x, 50x]; re-balance 50% of asset value
  • Asset increases in value [50x, 100x]; re-balance 60% of asset value
  • Asset increases in value > 100x; re-balance 70% of asset value

The business model outlined here for diversification of bitFORTUNE value is subject to perpetual research and development over time with the intention of maximizing profit and growth of the bitFORTUNE portfolio. More cryptocurrencies will be included to the portfolio over time as they pass the metrics for inclusion and the fund grows allowing for further scope. In the event any “fork” occurs for any asset in the bitFORTUNE portfolio, that new asset will be included to the portfolio as growth of the portfolio provided the new asset is cleared as safe and secure in the market. In parallel automated trading algorithms will be subject to enhancement per experience and research. Also, automated trading algorithms will be subject to having scope increased across major exchanges over time as those exchanges prove in alignment with bitFORTUNE portfolio goals. The only constant in reality is change and this versatility to gracefully evolve will sustain bitFORTUNE for years to come. Dramatic deviations from the bitFORTUNE White Paper diversification business model or permanent reformations to the model will be communicated on the bitFORTUNE.fund Announcements Page.

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White Paper bitFORTUNE Value

bitFORTUNE Value

bitFORTUNE is backed by the value of the bitFORTUNE portfolio according to the following equation that calculates the net asset value for bitFORTUNEs:

{[(n – a) + h + t] – l} / c = p

Where variables have the following definitions and units of measurement:

  • n – new value from sales on exchange; units in USD
  • a – administrative value distribution; units in USD
  • h – total value of all assets in holding; units in USD
  • t – total value of all assets trading; units in USD
  • l – fund liabilities including administrative fees and transaction fees; units in USD
  • c – total circulating supply of bitFORTUNE tokens; units in FORTUNE
  • p – price per bitFORTUNE token; units in USD per FORTUNE (USD/FORTUNE)

Note here that the value of each coin in circulation is calculated daily and reflected on the bitFORTUNE exchange by the bitFORTUNE token sell & buy order that is maintained by the administrative account as described in the DISTRIBUTION & PROFIT sections of the bitFORTUNE White Paper.

As stated in the DISTRIBUTION section of the bitFORTUNE White Paper, no single bitFORTUNE token is released into circulation unless backed by a purchase on the exchange at the market value of the token as calculated and set daily by the administrative account. This includes the founders of the token who received zero pre-mined bitFORTUNE tokens. Token founders must also purchase bitFORTUNE on the exchange as all other investors.

This value of bitFORTUNE tokens calculated daily is also the price at which the administrative account on the bitFORTUNE exchange will buy back the token from investors. This facilitates profit sharing of the performance of the portfolio.

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White Paper bitFORTUNE Profit

bitFORTUNE Profit

bitFORTUNE extends potential profit to investors by maintaining a buy order on the bitFORTUNE exchange by the administrative account. The buy order on the exchange corresponds to the sell order on the exchange by the administrative account as described in the DISTRIBUTION section of the bitFORTUNE White Paper. The buy order on the exchange as maintained by the administrative account will be slightly less than the sell order on the exchange maintained by the administrative account. This is for an obvious reason so patrons may not buy bitFORTUNE tokens from the administrative account and then immediately sell them back at a higher price. The buy order on the exchange maintained by the administrative account allows investors to sell their bitFORTUNE tokens and realize the value in open.BTC. The open.BTC asset is backed 1:1 by real BTC and can be deposited or withdrawn on BitShares using the gateway service provided by Openledger. Other withdraw options are also available on the BitShares platform.

The net asset value of the portfolio is calculated daily and this implies that the buy order on the bitFORTUNE exchange will be updated daily to reflect the new price of bitFORTUNE tokens and also how many tokens are currently being purchased back by the administrative account. The buy order on the exchange will be maintained at a variable percent of the total value of the bitFORTUNE portfolio. This percent will be replenished in 30 day cycles.

Of the bitFORTUNE goals is to provide high liquidity for investors wanting to sell their coins. This may be achieved by the administrative account by buying coins on the exchange for sale once every 30 days. The 30 day cycle is to allow time for free trading of bitFORTUNE coins on the exchange for those speculators and to avoid perpetual liquidation processes acting on the bitFORTUNE portfolio. In order for the administrative account to fill investor sell orders the sell price must be equal to or less than the price of bitFORTUNE tokens calculated as described per the bitFORTUNE Value section of the bitFORTUNE White Paper.

In order for the administrative account to earn commission for system maintenance and portfolio management the following schedule applies to value extracted from the fund in order to maintain the buy order on the exchange by the administrative account:

  • minimal : 3%
  • 15% growth > net asset value from last 30 day cycle calculation >= 10% growth : 5%
  • net asset value from last 30 day cycle calculation >= 15% growth : 7%

In the event more funds are needed for administrative allocation as described in the Diversification section of the bitFORTUNE White Paper the administrative commission described here may be channeled to those areas to support the best interest of bitFORTUNE as a whole.

Please note that investor sell orders sitting on the bitFORTUNE exchange less than the buy order placed on the exchange by the administrative account will automatically be filled.

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White Paper bitFORTUNE Transparency

bitFORTUNE Transparency

bitFORTUNE is transparent for investors and spectators. This transparency is provided by the bitFORTUNE White Paper that describes the business model, the bitFORTUNE portfolio that lists the complete allocation of funds in real time perpetually, by way of the bitFORTUNE.fund Announcements Page that will list all updates regarding bitFORTUNE, and on the bitFORTUNE exchange where the information communicated on bitFORTUNE.fund may be realized in synchronization. Also investors and other inquisitors may contact bitFORTUNE administration using the bitFORTUNE.fund Contact Us Page.

The bitFORTUNE portfolio will track the following data and statistics in an easy to interpret format:

  • New value channeled into the bitFORTUNE fund from the sale of bitFORTUNE tokens on the exchange by the administrative account.
  • The circulating supply of bitFORTUNE tokens.
  • The net asset value (price of bitFORTUNEs).
  • Statistics for all assets held.
  • Statistics for all assets in trading.
  • The value channeled from the bitFORTUNE portfolio to maintain a buy order on the exchange by the administrative account.
  • Other relevant data.

The bitFORTUNE exchange will maintain critical data including:

  • The price of bitFORTUNE tokens.
  • All current buy and sell orders of bitFORTUNE.
  • All market trades of bitFORTUNE on the exchange.
  • The 24 hour percent change of bitFORTUNE tokens.
  • A market depth graph for bitFORTUNE token orders on the exchange.
  • Other relevant data.

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White Paper bitFORTUNE Security

bitFORTUNE Security

bitFORTUNE has critical focus on security and is as secure as cryptocurrency wallets.

bitFORTUNEs are cryptocurrency. This means all bitFORTUNEs are free from centralization, regulation, cannot be destroyed, cannot be seized, cannot be shut down, cannot be hacked or tampered with…there is few competitors exhibiting equal or higher levels of security. Owners of bitFORTUNEs have complete responsibility and total liberty over their asset.

The BitShares platform upon which the bitFORTUNE exchange exists is also decentralized. The exchange is free from centralization, regulation, cannot be destroyed, cannot be seized, cannot be shut down, and cannot be hacked or tampered with. Please see the bitFORTUNE White Paper section DECENTRALIZATION for more information regarding the BitShares platform upon which bitFORTUNEs operate to understand the invincibility of these technologies.

All assets held in the bitFORTUNE portfolio are stored with the most sophistication possible for cryptocurrency storage. In short, hackers with malicious intent against these wallets used for storage would attempt a dramatically unfeasible course of action that is practically impossible.

A cryptocurrency private key typically is a randomly chosen 32 byte (or 256 bit) number. That’s any number between 1 and 115792089237316195423570985008687907852837564279074904382605163141518161494336, inclusive. This is a number so vast that the human mind cannot comprehend it. For a perfectly efficient computer to simply count from 1 to 2^256 (the large number above) the energy required to power the computer would be more than the output of an average star over its entire lifetime. This is obviously ludicrous to attempt. Practically speaking, to hack cryptocurrency wallets the assailant would most likely need to solve the famous computer science problem, the P versus NP problem. If that happened this person or persons would become instantly famous and positioned in history with those recognized as the most brilliant human beings to ever live. This would go down in history as of the greatest achievements of the human race. Also the least amount of money some one could earn with this knowledge would be hacking cryptocurrency wallets.

All assets in trading are stored in web wallets on selected exchanges. The exchanges selected for automated trading are only the most reputable and trusted exchanges on the planet.

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White Paper bitFORTUNE Disclaimer

bitFORTUNE Disclaimer

bitFORTUNE does not provide any warranties or guarantees of performance. Cryptocurrency is a volatile evolving industry with risk to investment that could prove significant or total. The bitFORTUNE administrative team is seasoned in cryptocurrency and backed with degrees including engineering, computer science, finance, business, marketing, and legal. bitFORTUNE administration seeks to minimize risk and speculates strong potential increasing value of investments by employing comprehensive diversification buying and holding and automated trading of cryptocurrencies for profit. These strategies are the foundation of bitFORTUNE.

bitFORTUNE does not provide tax advise nor legal consultation. It is recommended bitFORTUNE investors seek legal and financial consultation with professional advisers.

Assets described in the bitFORTUNE White Paper are not intended to constitute securities in any jurisdiction. This White Paper does not constitute an offer of securities or a solicitation for investment in securities in any jurisdiction. bitFORTUNE is an anonymous, private, decentralized token exempt from the laws of securities. bitFORTUNEs are decentralized tokens trading on BitShares that is a decentralized financial platform that is also anonymous and private. This intent grants liberty, freedom and responsibility to bitFORTUNE investors.

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bitFORTUNE White Paper PDF

bitFORTUNE.fund WhitePaper PDF