On the topic of split shares... such a thing should be done with a PT, in fact... I see no reason Burnside could not just make shares dividable to x decimal places. Instead of indicating a number of shares to buy... you indicate a price and how much you can spend, and done. No need to actually split the shares, just sell fractions of a share.
As was stated, many people could probably afford to buy a small portion of a share, more then can currently invest... so I am sure burnside will eventually do this as it would be in his own best interest in the future, unless there is something I am missing here.
Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1157. (Read 3917543 times)
I would actually support something like this. I would love to set my shares to say 25% divident reinvest, but 1btc/share doesn't make this very workable for smalltime investors.
This is another good point; DRIP now is virtually impossible for smaller investors. With a 1/100 PT, it would make it more feasible.
.b
Let's divide AM shares up to 8 decimal points and the lowest will be called "friedcat" 
I would actually support something like this. I would love to set my shares to say 25% divident reinvest, but 1btc/share doesn't make this very workable for smalltime investors. Let's divide AM shares up to 8 decimal points and the lowest will be called "friedcat"
I own 1.3 trillion friedcats! woohoo!
back in the old days, a friedcat couldn't even buy a soda...
Now, I can buy a whole country with one!
Let's divide AM shares up to 8 decimal points and the lowest will be called "friedcat"
I own 1.3 trillion friedcats! woohoo!
Let's divide AM shares up to 8 decimal points and the lowest will be called "friedcat"
Some propose splitting the shares (or the passthrough splitting the share) - in theory, it helps the liquidity; in practice, I've reservations. Just look at the bid-ask spread of Satoshi Dice, even though the stock price is "low" in absolute terms and there are gazillion shares out there. As a percent of the stock price, it's usually pretty bad even though the share price is a lot lower.
I agree with this in terms of S-DICE, but I'm not sure that S-DICE has the same attention and attractiveness as AM, especially with the recent turbulence around its operations and the absence of feedback from evoorhees (both now resolved).
I believe AM is a 'better' entry point into BTC investments and that most people considering investing will realize this. A low absolute price is not a selling point alone, but a high one may prevent people from getting in. Some smaller investors may look at putting 2-3 BTC into a stock (we're still talking $300-500 which to many non-Westerners may be a lot of capital), and with the current AM prices, they will get 1-2 shares with a 'lot' of left-over investment potential. Scale that to a few thousand users and the shares miss out on a fair amount of revenue.
.b
The last auction is very successful, but I think starting a 48 hour auction on Sunday is a bit better. I speculate that business is a bit slow on a weekend.
It can cut both ways. Keep in mind a lot of people are amateur miners and may have daytime jobs that prevent them from being online during the critical closing hours if it were on a weekday.
Also, it's already Sunday morning in China :-)
.b
The last auction is very successful, but I think starting a 48 hour auction on Sunday is a bit better. I speculate that business is a bit slow on a weekend.
Some propose splitting the shares (or the passthrough splitting the share) - in theory, it helps the liquidity; in practice, I've reservations. Just look at the bid-ask spread of Satoshi Dice, even though the stock price is "low" in absolute terms and there are gazillion shares out there. As a percent of the stock price, it's usually pretty bad even though the share price is a lot lower.
Some propose splitting the shares (or the passthrough splitting the share) - in theory, it helps the liquidity; in practice, I've reservations. Just look at the bid-ask spread of Satoshi Dice, even though the stock price is "low" in absolute terms and there are gazillion shares out there. As a percent of the stock price, it's usually pretty bad even though the share price is a lot lower.
Hmm, good point. That might have been a mistake.
Hopefully people will check Bitcoin news on Sunday night.
The last auction is very successful, but I think starting a 48 hour auction on Sunday is a bit better. I speculate that business is a bit slow on a weekend.
Some propose splitting the shares (or the passthrough splitting the share) - in theory, it helps the liquidity; in practice, I've reservations. Just look at the bid-ask spread of Satoshi Dice, even though the stock price is "low" in absolute terms and there are gazillion shares out there. As a percent of the stock price, it's usually pretty bad even though the share price is a lot lower.
Some propose splitting the shares (or the passthrough splitting the share) - in theory, it helps the liquidity; in practice, I've reservations. Just look at the bid-ask spread of Satoshi Dice, even though the stock price is "low" in absolute terms and there are gazillion shares out there. As a percent of the stock price, it's usually pretty bad even though the share price is a lot lower.
The 15TH/s is just the following one week's schedule.
Some of the rest hashpower will be sold, some of them will be deployed in the weeks following the next week. The larger portion of them will still be deployed by ourselves.
Some of the rest hashpower will be sold, some of them will be deployed in the weeks following the next week. The larger portion of them will still be deployed by ourselves.
Since we already had 7.5 TH/s deployed, it seems like you are deploying 7.5 TH/s this week. Is that the weekly goal for deployment, 7.5 TH/s? Or do you plan more for next week?
Friedcat & co own more of AM than all of us put together. They have all the motivation in the world to deploy as fast as is safely possible. You and everyone else here armchair-speculating about their activities and second-guessing the roadblocks and speed they have helps NO ONE.
It is pretty obvious that Friedcat believes that 7.5 TH/s is a reasonable estimate for the fastest they can possibly deploy. If he could go faster, do you not think that he would? 7.5 TH/s is *750* hashing boards that have to be mounted, powered up, firmware-flashed, pointed to the pool and debugged. If the racks aren't fully in place, that's ~37 racks that have to be built. And that isn't even talking about cooling. At least one in 100 is going to have a short that requires diagnostics. "Plan for more next week?" lol. Give him a fucking break. I highly doubt any of them plan to do anything except 15 hour days 7 days a week for the next MONTH. Honestly I'd rather them slow it down a little bit as needed because tired people make mistakes, and mistakes could cost thousands.
As far as the other people asking what happened to the other ~5.8 TH/s from the original 12, they ran into power issues. Powering 750 hashing boards is no easy feat. They had timed the expansion of their power capacity with the delivery of the next 50 TH/s, rather perfectly I might add. So now they both have more power and they have the 50TH/s. So theoretically they can bring online 55.7 TH/s now, although we are selling so it won't be quite that much.
/rant
Thank you for writing this down. I hope many potential and current investors read it and recognize, they have fully ALIGNED INTERESTS with bitfountain. Friedcat could promise you everything under the sun. But that's more, say, BFL's thing. Friedcat is more in the delivering business
So someone should read this message and go set it up right now.
I think I'll do just that...
I'll work on my credibility, but will be open to suggestions on acquiring the trust required. I'm fairly open about my real-life identity, and I would seek the advice of the existing pass-through operators both in forming the contract and in the continuous operation of the split-PT.
I would also put at least some of my PT shares up for such a project.
.b
i'd be happy to help, though my "trust level" isn't terribly high either, i suppose... never had a problem, just not done much beyond buy some steam games and ...uh... 1 asicminer share... *cough*
well, technically, 6... i bout 5 at IPO but sold them shortly before the glbse collapse. recently bought another from ineedausername.
So someone should read this message and go set it up right now.
I think I'll do just that...
I'll work on my credibility, but will be open to suggestions on acquiring the trust required. I'm fairly open about my real-life identity, and I would seek the advice of the existing pass-through operators both in forming the contract and in the continuous operation of the split-PT.
I would also put at least some of my PT shares up for such a project.
.b
The 15TH/s is just the following one week's schedule.
Some of the rest hashpower will be sold, some of them will be deployed in the weeks following the next week. The larger portion of them will still be deployed by ourselves.
Some of the rest hashpower will be sold, some of them will be deployed in the weeks following the next week. The larger portion of them will still be deployed by ourselves.
Since we already had 7.5 TH/s deployed, it seems like you are deploying 7.5 TH/s this week. Is that the weekly goal for deployment, 7.5 TH/s? Or do you plan more for next week?
Friedcat & co own more of AM than all of us put together. They have all the motivation in the world to deploy as fast as is safely possible. You and everyone else here armchair-speculating about their activities and second-guessing the roadblocks and speed they have helps NO ONE.
It is pretty obvious that Friedcat believes that 7.5 TH/s is a reasonable estimate for the fastest they can possibly deploy. If he could go faster, do you not think that he would? 7.5 TH/s is *750* hashing boards that have to be mounted, powered up, firmware-flashed, pointed to the pool and debugged. If the racks aren't fully in place, that's ~37 racks that have to be built. And that isn't even talking about cooling. At least one in 100 is going to have a short that requires diagnostics. "Plan for more next week?" lol. Give him a fucking break. I highly doubt any of them plan to do anything except 15 hour days 7 days a week for the next MONTH. Honestly I'd rather them slow it down a little bit as needed because tired people make mistakes, and mistakes could cost thousands.
As far as the other people asking what happened to the other ~5.8 TH/s from the original 12, they ran into power issues. Powering 750 hashing boards is no easy feat. They had timed the expansion of their power capacity with the delivery of the next 50 TH/s, rather perfectly I might add. So now they both have more power and they have the 50TH/s. So theoretically they can bring online 55.7 TH/s now, although we are selling so it won't be quite that much.
/rant
I am just wondering what the goals and plan is, as so many things have changed. Friedcat said that more would be deployed following this week, and I think a lot of us want to know what the plan is.
Is it really unreasonable to ask for details on the deployment rates?
Splits are done to bring liquidity to a stock.
Take one look at BTCT.CO , do you really think a split will bring liquidity to this one stock? No, it won't.
It will be just as illiquid and harder to fill an order at a particular price because you will have more shares.
signed: the voice of reason.
Take one look at BTCT.CO , do you really think a split will bring liquidity to this one stock? No, it won't.
It will be just as illiquid and harder to fill an order at a particular price because you will have more shares.
signed: the voice of reason.
Agreed.
Splits are also because of reasons of psychology. History shows that smaller investors view stocks under $10 as being 'weak' and stocks over $100 as being 'overpriced', hence why firms historically have split or consolidated shares to stay in that range.
Honestly, I'm against a split for now. Friedcat & co are beyond busy with deployment, sales, and USB-stick development. They do not and should not have time to worry about this stuff. I'm also against a split because I like Berkshire's philosophies and do not like weak-hand investors.
That said, it would be trivially easy for someone to set up a split-passthrough. They could split 1/100 and have 100 of their shares be worth 1 AM share, and divide the dividends accordingly. They could even make it possible to convert 100 of their shares to 1 AM-PT share on either bitfunder or btct.co. Better yet, if they charge a reasonably small fee(0.5% or less), it would be profitable for them.
So someone should read this message and go set it up right now.
Splits are also because of reasons of psychology. History shows that smaller investors view stocks under $10 as being 'weak' and stocks over $100 as being 'overpriced', hence why firms historically have split or consolidated shares to stay in that range.
My initial split suggestion was at 1/4, which would put current trades in USD at around $45, so well within that limit.
Pending further community discussion, I'll keep thinking, but I'm leaning towards that a fund-type security may be a good idea. It won't affect AM at all, nor require anything from friedcat (except maybe transfers of underlying shares to escrow or operator), and it will give more liquidity to investors.
.b
I like this business, so have bought some shares recently, but it would seem a good idea to at least have a better place to clearly communicate the separate issues all being discussed in one large thread here, which include:
- Deployment rates of own mining
- Sales of chips/sticks (incl. auctions)
- Dividends and financial results
- Other issues
ASICMiner is a $50m business at current market capitalisation afterall
- Deployment rates of own mining
- Sales of chips/sticks (incl. auctions)
- Dividends and financial results
- Other issues
ASICMiner is a $50m business at current market capitalisation afterall
For those scanning but not clicking links- New auction up, 50 blades this time for a total of 0.5TH/s.
48 hour auction.
Get ready for a wild ride.
Splits are done to bring liquidity to a stock.
Take one look at BTCT.CO , do you really think a split will bring liquidity to this one stock? No, it won't.
It will be just as illiquid and harder to fill an order at a particular price because you will have more shares.
signed: the voice of reason.
Take one look at BTCT.CO , do you really think a split will bring liquidity to this one stock? No, it won't.
It will be just as illiquid and harder to fill an order at a particular price because you will have more shares.
signed: the voice of reason.
Agreed.
Splits are also because of reasons of psychology. History shows that smaller investors view stocks under $10 as being 'weak' and stocks over $100 as being 'overpriced', hence why firms historically have split or consolidated shares to stay in that range.
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