Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 402. (Read 771542 times)

shhhh… truth hurts.

question: if you've been told that BitFunder is closing AND you've previously been asked to push your shares to AMC-TENDER… than why haven't you?

Put me back on ignore please and stop inciting panic where calm heads are called for.  

* it's doubt, not doom and where the hell do you think your tendered shares are?  BF by any chance?

muppet? you've gotta be kidding me… it's hardly fear, uncertainty and doom, the fucking exchange is closing. Or do you not even know that?

At this point, if you're still on BF you're a tool - no ifs, ands or fuds about it.

Some one tell this muppet to stop with the fud ffs.

I'm in the same boat and want these digital copies destroyed.

Direct shares
The issuer maintains a database of Bitcoin addresses and how many shares are owned by each one. (You own shares via a Bitcoin address you can prove you control.)
The issuer can pay dividends to this address and if you want to sell a direct share the issuer is notified that x amount of shares are being moved from address a to address b.
Like ASICMINER, the issuer normally does not provide extra escrow service. They will move shares after you prove you own the current address. Escrow for transfers is normally setup between you and the buyer and does not involve the issuer. (Otherwise the issuer spends all their time escrowing and not building miners.)

Pass through.
A pass through is a trusted member of the community that buys up lots of direct shares and offers these shares as proxy shares on an exchange. For example I might buy 1,000,000 ActiveMining direct shares where Ken sees I control 1,000,000 with address A.
Now I go to cryptostocks and issue 1,000,000 pass through shares. I promise to pay dividends that I get from Ken to the proxy/pass through shares (thats why the pass through operator has to be trusted)

Now lots and lots of trade happens on cryptostocks and all Ken sees is that I control a million shares and pays out that dividend. Ken no longer deals with the exchange, instead I deal with the exchange, and take the dividend Ken pays my 1,000,000 direct shares and I split that amoung the 1,000,000 pass through shares.

I should have went to sleep hours ago I hope that makes sense.

Please explain what direct shares mean and what passthrough means.


Thanks!

+1

Will be nice if you do it before it is too late in Europe, as we are probably the people that still holds more shares on BF.

Just transferred my shares to AMC-TENDER. I hope to end my Bitfunder experience soon. Why on earth did I even bother to get my WeExchange account verified.  :-(

Does anybody know if I can somehow delete the documents and data that are unfortunately stored at WeExchange right know?

Shares transfered to AMC-TENDER.  Take care of me, Ken!

Do you just mean BTC?
Shares will be OK there untill we see what Kens plans are/Dec 1st wont they?

After yesterday's announcement, if you're still on BF, please consider getting everything out today for gods sake.

Thanks.

Are you going to pay dividends again on BF?

My preference for the sake of stability and simplicity at this stage is direct shares. When a reliable exchange comes online we can go with that, but for now I'm sick of shit shutting down. I have no sympathy for investors who aren't in for the long haul, so they aren't in my consideration.

You've said it a few times. I'm sure by now we're all aware of your opinion about Direct Shares.

Even if Ken makes an actm exchange, I would prefer the shares to be direct shares so that people can create pass throughs on havelock, exchangexxwhatever and actm exchange.

Direct shares allows Ken to go back to focusing on the company and not what exchange to list on.

hopefully its related to our actm exchange :p

I will me making an announcement later today about our solution to the Bitfunder problem.

That's why there's an ActM Announcement Thread.