ASIC.COOP ASIC MINERS COOPERATIVE - page 12.

ciuciu

donator

Activity: 588

Merit: 500

You totally misunderstand the notion of COOP. I do not get any profit out of it, except for the shares I buy.
For this, all expenses should be paid by the COOP members.
Anybody is free to go at it by himself, or to pay ten times for mining bonds. Nobody will give you a better offer. If they do, please let me know.

I do not want your money now. You can buy them at your convenience, if still available on GLBSE.

And after all, competition is good for consumer!

Quote from: Lumpy on June 16, 2012, 12:38:21 PM

Let's see...

a) You're not willing to risk 8 BTC to start your IPO.
b) You want the money NOW even though the product release date is at some indeterminate point in the future.

Hmmm....

Lumpy

full member

Activity: 237

Merit: 100

Let's see...

a) You're not willing to risk 8 BTC to start your IPO.
b) You want the money NOW even though the product release date is at some indeterminate point in the future.

Hmmm....

ciuciu

donator

Activity: 588

Merit: 500

I'm going to have them on GLBSE as soon as I get donations for the 8BTC fee,
I think is best to have the funds on hand, as to assure order frontline.
I will spend only the BTC needed for one unit, the remaining will be returned as divident.

Quote from: DutchBrat on June 16, 2012, 11:44:29 AM

Interested !

I'm guessing you will wait selling the bonds until BFL actually takes pre-orders....

5000 Bonds @ 1 BTC ia already way over the supposed cost price of the SC Miner

DutchBrat

hero member

Activity: 868

Merit: 1000

Interested !

I'm guessing you will wait selling the bonds until BFL actually takes pre-orders....

5000 Bonds @ 1 BTC ia already way over the supposed cost price of the SC Miner

ciuciu

donator

Activity: 588

Merit: 500

I think you are part right.
For this I opted for a cooperative. You only lose what you can afford.
But also, without some risk you can't win. To each his own.

Quote from: roomservice on June 16, 2012, 11:17:49 AM

just my 2 cents:

I think its to early right now to put my all money in into a preorder. It'll be a loooooooooooooong time until you see a working product.

There are many reasons:
- It's impossible right now to calculate your ROI on this investment right now (to many unpredictable factors like difficulty/competition/btc value)
- You have no clue when BFL is going to deliver
- A competitor could even deliver ASIC products month before BFL does
- A competitor could even sell and deliver ASIC products for better $ per mh/s ratio
- BFL could even go broke and your money is lost forever
- A rise in exchange rate per BTC will decrease the value of your stock - even before you get startet with mining
- There is a little chance that hash algo could be changed and make ASIC products worthless in order to protect the network (if BFL stays the one and only company on the market which produce ASIC)

roomservice

full member

Activity: 199

Merit: 100

just my 2 cents:

I think its to early right now to put my all money in into a preorder. It'll be a loooooooooooooong time until you see a working product.

There are many reasons:
- It's impossible right now to calculate your ROI on this investment (to many unpredictable factors like difficulty/competition/btc value)
- You have no clue when BFL is going to deliver
- A competitor could even deliver ASIC products month before BFL does
- A competitor could even sell and deliver ASIC products for better $ per mh/s ratio
- BFL could even go broke and your money is lost forever
- A rise in exchange rate per BTC will decrease the value of your stock - even before you get startet with mining
- There is a little chance that hash algo could be changed and make ASIC products worthless in order to protect the network (if BFL stays the one and only company on the market which produce ASIC)

bulanula

hero member

Activity: 518

Merit: 500

Quote from: organofcorti on June 16, 2012, 11:11:05 AM

Quote from: locust on June 16, 2012, 11:08:30 AM

Quote from: organofcorti on June 16, 2012, 11:04:31 AM

Quote from: locust on June 16, 2012, 10:59:24 AM

If 3.5 Gh/s can be powered by USB, I think 1 Th/s will not be a issue here. By the way, what is max power for a USB port anyway?

The PR release doesn't say the power comes only from USB, just that it's USB powered. It could have another power input, for example a phone charger.

I presume that USB Powered means that can be powered just from USB port... JMHO.

Probably, but there's wiggle room there for when they end up decreasing the expected hashrate and increasing expected power use, like they did for the singles.

Hey, be fair. They actually increased the hashing for the current mini rig by 1000 mhash and decreased the power by 100w so i think they learned their lesson for now.

organofcorti

donator

Activity: 2058

Merit: 1007

Poor impulse control.

Quote from: locust on June 16, 2012, 11:08:30 AM

Quote from: organofcorti on June 16, 2012, 11:04:31 AM

Quote from: locust on June 16, 2012, 10:59:24 AM

If 3.5 Gh/s can be powered by USB, I think 1 Th/s will not be a issue here. By the way, what is max power for a USB port anyway?

The PR release doesn't say the power comes only from USB, just that it's USB powered. It could have another power input, for example a phone charger.

I presume that USB Powered means that can be powered just from USB port... JMHO.

Probably, but there's wiggle room there for when they end up decreasing the expected hashrate and increasing expected power use, like they did for the singles.

locust

member

Activity: 65

Merit: 10

Quote from: organofcorti on June 16, 2012, 11:04:31 AM

Quote from: locust on June 16, 2012, 10:59:24 AM

If 3.5 Gh/s can be powered by USB, I think 1 Th/s will not be a issue here. By the way, what is max power for a USB port anyway?

The PR release doesn't say the power comes only from USB, just that it's USB powered. It could have another power input, for example a phone charger.

I presume that USB Powered means that can be powered just from USB port... JMHO.

ciuciu

donator

Activity: 588

Merit: 500

I setup a donation address for the GLBSE fee: 15JLZpaYkXB942SoczNvHsXBsEJ8fcTA44

organofcorti

donator

Activity: 2058

Merit: 1007

Poor impulse control.

Quote from: locust on June 16, 2012, 10:59:24 AM

If 3.5 Gh/s can be powered by USB, I think 1 Th/s will not be a issue here. By the way, what is max power for a USB port anyway?

The PR release doesn't say the power comes only from USB, just that it's USB powered. It could have another power input, for example a phone charger.

ciuciu

donator

Activity: 588

Merit: 500

So, it should be around 750W for the unit.

Quote from: bulanula on June 16, 2012, 11:02:35 AM

2.5w

bulanula

hero member

Activity: 518

Merit: 500

2.5w

locust

member

Activity: 65

Merit: 10

If 3.5 Gh/s can be powered by USB, I think 1 Th/s will not be a issue here. By the way, what is max power for a USB port anyway?

ciuciu

donator

Activity: 588

Merit: 500

No numbers yet. The electricity cost will be deducted from the weekly earnings.

Quote from: ?? on ??

Those numbers are looking hot, any news on power usage?

ciuciu

donator

Activity: 588

Merit: 500

They usually require advance payment.

Quote from: roomservice on June 16, 2012, 10:44:30 AM

What will you do with those BTC until BFL can deliver somewhere next year?

bulanula

hero member

Activity: 518

Merit: 500

Quote from: roomservice on June 16, 2012, 10:44:30 AM

What will you do with those BTC until BFL can deliver somewhere next year?

May I suggest a pirate bank deposit ?

Makes perfect sense TBH

roomservice

full member

Activity: 199

Merit: 100

What will you do with those BTC until BFL can deliver somewhere next year?

ciuciu

donator

Activity: 588

Merit: 500

12/07/2012 500 shares of ASIC.COOP have been sold. Thanks to all investors!

The IPO is now listed on GLBSE, under the ticker ASIC.COOP.[/b] https://glbse.com/asset/view/ASIC.COOP

This is a project to buy the new announced ASIC miner from Butterfly Labs: BitForce SC Mini Rig 1TH/s, priced at $29,899.

http://news.yahoo.com/butterfly-labs-announces-next-generation-asic-lineup-054626776.html

You are buying shares in this unit so you own part of it. This provide piece of mind for future upgrades, but it also means that if the unit breaks we lose our investment.

I will operate the unit at my location. The weekly cost of operating the unit will be deducted from the earnings and the rest will be paid to the shareholders.

For the begining 5000 shares at 1BTC each will be sold.

Here is the IPO description for our COOP:

ASIC Miner COOP is a stock pool with the intention of acquiring ASIC (Application Specific Integrated Circuit) Bitcoin mining equipment. Our goal is to become one of the first in the market to begin mining operations based on ASIC technology, and to give the opportunity for investors to benefit from this technology.

The projected cost of mid to high level ASIC equipment can effectively block many small to mid size mining operations from acquiring these assets. ASIC Miner COOP will offer the ability for these operations and individuals to own dividend bearing stocks and voting rights in an ASIC mining operation.
Butterfly Labs™ has stated in their ASIC FAQ that projected availability will be in October of 2012. This information is subject to change and while ASIC Miner COOP has no control over order and shipping dates, the voting structure of the COOP will allow investors to take part in the decision making of the COOP. This structure allows the COOP flexibility and the ability to react to a changing market.

Pre-order investment funding will be placed in an interest bearing account at 1% weekly. The investment funds will be allowed to compound weekly, until the purchase order is placed with Butterfly Labs™ thus giving COOP and in turn the stockholders an immediate benefit above and beyond share pricing. If at any time it appears an adverse condition will occur with the acquisition of the ASIC equipment during the pre-order stage, a vote will be held to decide if liquidation or investment in other technology will occur.

Dividends will begin to be paid out after mining operations have begun, with all shares having equal standing. The COOP does not charge any load, and only operation costs are deducted from mining proceeds.

Decisions about investing part of the profits into interest bearing instruments to allow the COOP to invest in expansion of the operation will be done by a majority vote of the stockholders.

Addon: If the operator becomes unable to maintain the unit, he will transfer the unit to another member of the COOP after seeking shareholder approval.

IPO description proposal done by dreamwatcher.

Please discuss!

I setup a donation address for the 8BTC GLBSE fee: 15JLZpaYkXB942SoczNvHsXBsEJ8fcTA44

http://blockchain.info/address/15JLZpaYkXB942SoczNvHsXBsEJ8fcTA44
Please send a PM first with the amount you are donating.
First donors will get priority for buying shares.

Donors (not including myself):
pekv2 - 0.1 BTC
locust - 0.25 BTC
DutchBrat - 1 BTC
dreamwatcher - 8 BTC

Donations are closed we have the amount needed.

Topic: ASIC.COOP ASIC MINERS COOPERATIVE - page 12. (Read 19307 times)