Topic: ASICMINER: board seat (equivalent of 5000 shares) for sale - page 3. (Read 15493 times)

Final Contract


Changes to the previous one posted in #176:

• point 4: updated Johns escrow address as stated in #177
• point 8: added LainZ address as provided by PM

As the seller I sign this final contract with my address for this deal 16CV4ktaWSp9TjEt2Wf4MMDhYbYi4TKXGc

Thanks John for taking this serious and considering security issues. Very much appreciated.

I meanwhile got LainZ' address for dividend payments, so I am able to update and post the final contract soon.


Thanks for your patience

-----BEGIN-SIGNATURE-BLOCK-------------------------------------
Address:    1CuNd5n42cfqDz8SPVLSRsGHk2tLcHVMGh
Message:    "I control this address -John 2013-Feb-20 09:42am"
PublicKey:  04ef22b5c4cd9b58f39c8d1216bbb09a44ae5bf8448bc46432
            bd883d4120ade60939318db80d6018b02f33407ff4b8091e89
            ad0d569747570964848f98448c9ce5
-----END-SIGNATURE-BLOCK---------------------------------------

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

For the safety of the users involved, I am changing my wallet address to a paper wallet which is backed up physically at 3 different locations.

The new address: 1CuNd5n42cfqDz8SPVLSRsGHk2tLcHVMGh

There should be no alterations to the addresses in the near future.

Thank you.

John

20 Feb 2013
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (MingW32)

iQIcBAEBAgAGBQJRJCkZAAoJEINT5jezqu6w9PEP/jgQrUVbQHXGKW6f2gN1Cwuj
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IbGwBJvbioWZNUtkvlN2bbwJGVV8gJBFkIgbEIxI1IEV2YgEUSR+xgvlJ7jZosRV
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Ku/nLYVDhXQzXaYZDlRa5SyMGr2OWqJT/QqNrTLN0FH7/K1S3vnAMRwgz4olcGxt
4XBA4UWq3H3stJGkE0Mp09EBtpbj3pWo5tJQPp+MaMej5wdctZHnhLQR0xPRUxha
wMidHhWN0LYky3csZfiNWOcZkP0sEFxWOkQ/avc+uqkcP1XEo1VW5HS7wzj7BaoG
7auS2D9ezqRWkF5LIuxF
=usfm
-----END PGP SIGNATURE-----


PS: I still control the past address. My utmost apologies for the hassle caused.

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

1) Purpose
This contract regulates the finalization of the ASICMINER auction in
https://bitcointalksearch.org/topic/asicminer-board-seat-equivalent-of-5000-shares-for-sale-142038

2) Buyers
 PM.6        100 @ 0.45
 ghostshirt  200 @ 0.45
 Vezunchik   100 @ 0.45
 LainZ       100 @ 0.45
 asnonmous  5000 @ 0.44 (including 500 from board chair option)

3) Seller
Shares are sold by user zefir. They are currently held directly by
friedcat as a PGP-signed lock-in contract.

4) Escrow
Graet and John (johnthedong) will escrow the transactions. Buyers
decided whom to choose, resulting in the following transaction plan:
 PM.6        45 BTC to 1EEFt1JqyTuTEsGHERJj58QcYb72BaPeTj (Graet)
 ghostshirt  90 BTC to 15A8ztRxjnHud6unJi3dLpB9bLGdXVxAyg (Graet)
 Vezunchik   45 BTC to 1hnvX9pA6eSZPfGEaLHR1RHM6RE82yUox  (Graet)
 LainZ       45 BTC to 18AfJDFimnxRCbK4JbzqdHm1SigCySYT3p (Graet)
 asnonmous 2200 BTC to 1BCC3BogQ2LmWJ4PWgLw8B9qAbWRmSZyD7 (John)

Payment shall be made from an address that the buyer fully controls,
i.e. is in possession of the private key, so the escrow in case of
disputes and cancellation can return the funds to sender.

5) Activation
This contract will be posted in the auction thread and changes its
status to active when both escrows and the seller digitally sign it,
either by PGP or Bitcoin address signature.

6) Acceptance
After activation (i.e. the time when all three signatures from point
5. were posted), the buyers accept this contract by sending their
respective payments to the escrow addresses given in 4. They are
given three days (72h + 12h time zone margin) to finalize the trans-
action in full. Failing so, their deal status changes to canceled.

7) Share Transfer
ASICMINER is going to have its private exchange that is scheduled to
go online before the first dividend payment is processed. As soon as
it launches, buyers need to open an account and provide all required
data to seller to initiate a transfer of shares. Since the details
of the new exchange are not yet known, no defined deadlines for the
transfer can be provided at this time. Seller is limited to do this
with best effort and will keep buyers and escrows informed about the
status.

On top of the transfer handled over the new exchange, seller will
attempt to reach agreement with friedcat to split his position
according to the sale and move them to bilateral contracts between
buyers and friedcat directly and get their shares assigned to them
before the exchange launches. Success solely depends on friedcat
and can not be guaranteed.

Dividends
Buyers are entitled for all ASICMINER dividends. Share transfer is
scheduled to finalize before the first dividend is paid. Any dividends
paid for any reason to seller shall be forwarded in full to the buyers
at their following addresses:
 PM.6        1AXKZp4KU4tA4yPoFtHQPHoUi2DmWgHdEd
 ghostshirt  1ZKrazKLvfxNCYqk4BbboxiPonB9U3Pwh
 Vezunchik   1AkZFPx76RWEEpojMj5RvGDDesZxPazVdF
 LainZ       TBD as part of a side agreement
 asnonmous   1CuNd5n42cfqDz8SPVLSRsGHk2tLcHVMGh

9) Clearance
Escrowed funds will be released to seller after buyers approval of
* transfer of shares to their account
* receipt of their dividends (if any happened before transfer)

Seller's address for this deal is 16CV4ktaWSp9TjEt2Wf4MMDhYbYi4TKXGc
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (MingW32)

iQIcBAEBAgAGBQJRJCtlAAoJEINT5jezqu6wzP8QALEnON6FNBzySLyqfUWkHrql
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lryMjsWijkxGHJEN5etLBOApM1PsBcSThWZ8itDsgfvFMerXApBwIl0rzfq9JitG
BiBJyaMgC+UW0M0GKS/ZgTxrBJ/LDZLfTVxfB+8lZKY8R5N7l6eheeSG2RxZAG8U
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xrMxIHvUCour+GiaLEF3ZADhxueCcL6PqIugw4chtSNzc2hIdK89JBzGqlHk867U
+qBGCIOelnV9AeJh0WCZ
=OPQ7
-----END PGP SIGNATURE-----


The contract is agreed except asnonmous's escrow address, where I altered it to the newest revision.

Dear bidders and escrow,

I am in a dilemma, since one of the buyers did not yet provide his address I planned to include as part of our contract. At the same time I understand that the others who already accepted the proposal and provided their addresses would like to proceed and finalize this deal.

Since the missing address is only required to cover a quite unlikely event, I decided to move on and add the missing information as side contract when user LainZ provides it to me.

This is the contract buyer and seller mutually agreed on:


As seller I sign this contract with my address for this deal 16CV4ktaWSp9TjEt2Wf4MMDhYbYi4TKXGc

Next steps:

• I will request Great and John to sign this contract and prove that the given escrow addresses are theirs.
• With their approval, after point 5. the contract becomes active
• Buyers are then given three days to transfer funds to their given escrow addresses (see point 6.)

Hey Veznuchik,

you need to be more patient, please.

You posted a contract draft that the other byers are still reviewing and commenting. It does not make real sense to sign something with TBD placeholders as you see in point 8. Furthermore, if you read 6) carefully, you should understand that buyers are not required to sign but indicate their acceptance by sending the funds to the escrow addresses. Don't do that yet, wait until John and Graet confirm that those addresses are under their control.

Right now I am waiting for LainZ to provide his address as part of the contract. So please wait until I post the accepted contract. We are not in a hurry, since ASICMINER trading platform launch is not a matter of days but weeks.



Mods, escrows and others, please ignore post #175, thats uncompleted work-in-progress.

Contract draft sent to buyers for review. Will be worked out via PM and posted when agreed on to not spam this thread.

Also, the reason why I'm proposing signing of the contracts involved is to prevent any discrepancies and/or issues afterwards. It is perfectly fine if no signing is involved as it is just another procedure to ensure the integrity of the data. I only issue bitcoin addresses after signing them with my key.

Bitcoin address signing should be fine too, but as most people treat Bitcoin addresses as a single use affair, it would be hard to tie an identity to the address. OTC-registered addresses are fine too, though

Still there is no BTC addresses to pay our bid prices... When we must make our transfers?

Thanks John,

I got Graet also available and will settle the terms and conditions with the buyers in PM and post them here.


One general thing to you John: you are proposing to PGP sign all relevant documents, what about bitcoin address signing? Would this be equally reliable and / or accepted? I'm asking because PGP signing requires at least to install additional tools, while address signing is supported by most Bitcoin clients and available out-of-the-box.

As per my reply via PM to your question, I am willing to hold escrow. I operate on a tipping basis so pay whatever amount you see fit.

Also thanks all, (for putting up with me?), and good luck to the bidders in the other threads!

Next steps
First thing: go to bed , it was an exhausting auction and getting late

I'll contact some potential escrows and get their confirmation within 48h (my current goal is to have at least Graet and John on my list).

I'll come back with my proposal and buyers are free to agree on one or choose someone else (which I will need to agree and they will need to pay fees for).


Thanks and Good Night all,
zefir

Congratulations to all and thanks to Zefir for fair bidding. Good job.

Auction ended at 2013-02-17T22:35Z

Last valid bid was #161

Final bidding state:

-- # -- -----Bidder----- --Amount-- --BTC/Share--
 145     PM.6               100        0.45
 151     ghostshirt         200        0.45
 152     Vezunchik          100        0.45
 161     LainZ (PM)         100        0.45
 143     asnonmous         4500        0.44
-------------------- Outbid -------------------
 143     asnonmous          500        0.44
 133     Mausini            200        0.43
 135     ahdinosaur         100        0.43
 141     PM.3              2800        0.43
 128     PM.3              1000        0.41
  93     wisard             300        0.40
 116     skibum             100        0.40
 123     Vezunchik          300        0.40
 124     kjj                100        0.40
 126     Mausini            200        0.40
 127     bitcad             100        0.40
 119     ghostshirt         100        0.39
  82     kjj                100        0.38
  93     wisard             200        0.38
  94     Vezunchik          200        0.38
 112     mb300sd            500        0.38
-------------------- Cut-off ------------------


Thanks and congratulations to all bidders.

I am glad no one threw in objections for taking UTC as official time format. My own experience so far was horrible: CST(N) here, CET there, PST somewhere else; plus daylight saving here but not there, etc. Meeting a global agreement on a point in time is alway a challenge


That said: the last hour for bidding just started.

Oops, apologies for posting that before the close.  I had a dyslexia moment with the zefir's timestamp. I will refrain from posting further for the duration of the auction unless it is to raise my bid.

Congrats zefir and asnonmous, the price setter ;-)