Topic: ASIC.COOP ASIC MINERS COOPERATIVE - page 11. (Read 19489 times)

A mining COOP that will be investing in ASIC is an intriguing idea.

A COOP is still a business, the main difference is it wholly owned by the employees. In this case, there is not really going to be any direct stakeholder activity in the business.

Perhaps COOP is the wrong term. It seems to me, that you want to create an investment pool that distributes all profits to the stakeholders with no principal investor. In reality only you would be doing the actual work and you would retain possession of all the assets.

Looks more like a normal business structure with the CEO taking a token salary (Like CEO's that have a $1 salary), and having heavy investments in the business. The work they do for the business is rewarded by increased dividends and share value, and in most cases they get a bonus in the form of more shares.

In any case, whatever structure you base this on, you need to pay yourself something for all the work you will do. Your investors are not going to be doing any of actual work, and unlike the $1 CEO, this is a start-up.

We might not see the first ASIC hit the general public for a year.As of now we only have a announcement that has not been verified on the BFL website itself.
I also have to agree in sorts with the idea that it is early for and ASIC investment, however,  temper the early investments in the business by investing the BTC until you can order the equipment.

Take the BTC you get from now until you can order and invest it (preferably something low risk, maybe split between low and medium risk) in a bond(s) that pays dividends regularly. Split the dividends between the business and investors. That way the investors are seeing some pay back right away and the business fund will grow before the first ASIC is ordered.

The only tricky part is knowing when to start selling off the bonds to have the liquidity in place to order the ASIC.

I think you will get a much better response, if you offer per-order investors some kind of return beforehand. Just leaving BTC sitting and waiting for a product to become available kind of makes people a bit nervous.

Anyway, that's my 2cents, take it or leave it.

Great Idea!!!! Just refine it a bit and I may invest. 

I think you are not seeing clearly.
I do have 8 BTC, and if you look for the symbol CANMINE on GLBSE, that it is mine. And yes, I'm fully verified by GLBSE. I can always ask Nefario to change it, or I can add it to the operation cost, but what I really want is to check people interest in my idea.

Why am I the only one who can see right through this yahoo posting? Cmon guys..

Struck me as strange too. Who does not have 8 BTC available

Strange but I still think OP is legit.

If you are going to start a venture you ought to be willing to put up disproportionate risk and you also ought to take disproportionate reward. Bitcoin is a free market system, not a commune. So that's a red flag to me.

Being unwilling to put up 8BTC for the listing fee is also a red flag to me.

I do think the idea of raising a pool of money to invest in ASICs when they become available is a no-brainer, though (as in, a good idea).

I also think it would be a good idea in general for people raising money to include in their initial post a list of reasons why they should be trusted to manage other people's money. I don't know anything at all about you, and you havent't told me. I could go look through your posting history, but unless I go through it with a fine-toothed comb, I'm not really going to learn anything.

Best of luck.

You people tought I will go to war naked, don't you?
If you take time to check my post history, as you all should, you will see that I tried the same thing with the mini rigs, but I stopped because of the ASIC announcement.

Thanks!
I'm always open to colaboration or competition.

Please send a PM first with the amount you are donating.

Haha, I was just about to start something similar, but you woke up before me

If there is enough interest I can start a similar fund.

Best of luck!

How do you know who send which donation?

LOL. Your numbers are way off, you are not mining yet, you have no hardware and you will not pay dividends any time soon. Your only intention is to push mining bonds prices down, so you earn as much as you can on shorting them. Looks like the shorting does not go as well as expacted if you don't have mere 8 BTC for IPO

Maybe, but these days people do this just for fun, so why not? 
http://news.yahoo.com/leading-sha256-hardware-manufacturer-acquires-venture-capital-funding-081026668.html

If you run the numbers, that is not competition, it is just dust in your eyes.

Sub, would want to get in on this once BFL starts shipping those ASIC rigs. Also you might have some competition: https://bitcointalksearch.org/topic/m.967648 

If it's USB 3.0 I think it's a round 4.5 Watts?

And with new spec changes mentioned here, a 100 watts or more:

http://arstechnica.com/gadgets/2011/08/usb-ports-that-power-laptops-monitors-soon-to-be-a-reality/

No ! It is all fake. I am telling you !!!

It is a government shape shifter conspiracy to get us to lose our constitutional rights and sell our mining rigs.

  How dumb / uninformed can you be People still claiming announcement is fake ? LOL !

They bought an announcement on Yahoo news.
They posted also in the forums:
https://bitcointalksearch.org/topic/announcement-asic-mining-processor-by-butterfly-labs-87934

DUDE, how clearer can you get ?

Is you blind ? Stop posting rubbish. Nobody would pay $89 for an announcement to get me to sell my GPUs you conspiracy nutjob.

Official BFL post by forum account :

https://bitcointalksearch.org/topic/m.966882
https://bitcointalksearch.org/topic/m.966924

Stop the FUD. It is real all right !

The price on title is in USD, if you pay attention. This is because the price of BTC is very volatile this days.
You are right there is no business plan, because this is not a business, it is a COOP.

Regards.

I have been unable to find an official announcement from Butterfly Labs that is both credible and verifiable. Can you please provide a URL hosted on their domain with the appropriate news announcement?

Until then, I would urge caution with regards to this Internet rumor whose veracity is in question with an unverified source as it may be a hoax aimed at causing people to devalue their mining shares/bonds, equipment, etc. in an attempt to get them to sell them at a lower price.

Also, someone should let Butterfly Labs know about the press release since if someone is using their name without their consent then Butterfly Labs may want to proceed with legal action as there are several actionable torts if that is the case.