Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1213. (Read 3917029 times)

Stratum should let them run all 50TH over a 2400 modem.

Making a pool is not AM's core competence any more than data centers.  Let the specialists handle those things; farm them out.

Better to advertise by taking the top spots on the top pools.  Plus the community likes the transparency of using third party pools.

No minimum.

The contract states that fees will be waived for transfers over 50 shares.  I've committed to waiving all fees for the first 90 days, so effectively, no minimum, and no fees for now.  We have processed requests for transfers as low as 7 shares.

helixone had also sent out information via PM to some that requested it stating that there is a 5% fee on divs.  Most of his content is very insightful/helpful but regarding the divs he was incorrect.

The fee is waived the first 90 days, and is scaled based on how many shares are being managed.  Right now the fee would be 1%.  Once we hit 10k shares being managed by the fund the fee will drop again to 0.5%.  The fees are necessary to cover time spent operating the fund.  Our initial fee structure was modeled after DeaDTerra's BitFunder & BTCT passthrough's at the time.  (S.DICE, GSDPT, etc.)  We got slightly blindsided by the free offer from BitFunder, but that's what happens when you're first to market.  The other guys get to learn/adjust.

Dirt seems to fly all over the place regarding btct.co.  I spend a lot of time setting misconceptions straight.  It doesn't really surprise me much, this is bitcoin after all.      

Cheers.

Quite surprised as to the degree of difficulty of deploying the machines that AM is facing.  The networking issue is a bit surprising.  While there's always room for improvement, I think AM should be given credit for what they have accomplished.

But I really think AM should create its own pool or solo mine, that saves the pool fee - an "easy way" in enhancing shareholder value .  Given the hash power relative to the network, I think it's well worth the variance.

So for example to make a guesstimate of weekly dividends per ASICMINER share going forward (assuming current hash power and constant difficulty) would something like this be reasonable/correct?

((482.18990446 BTC * 7) - x) / 400,000 = y

where x is whatever amount of bitcoins retained to pay expenses, rent, electricity, salaries, etc.

of which ASICMINER shareholders will receive 163,962 * y total bitcoins and Bitfountain 236,038 * y

Or am I misunderstanding something?

^This.  AM should have planned out exactly which data centers to deploy at ahead of time.

The data centers should be selected on the basis of cheap power and proximity to their pools' hosts.

Scrambling around building their own is a big loss of time and focus from their core competency of designing, producing, and running ASICs.

Yeah, I wish I had the coins to pick up more at the other auction threads!!!!

Let's hope the deployment can complete soon ~~~

Part of my day-to-day work is running a data center, if you guys are in Toronto, more than willing to volunteer my time ~~

wow, ASICMINER is rallying hard on all the PTs!  0.898 hit on bitfunder

There are less dividends paid out to shareholders, but there are also less shares floated. So really no difference in your dividends payments compared to full 200k sold.

Seems reasonable. But what happend to dividends of unsold shares? Have unsold shares receive dividends? If not, IPO shares received 1/163962 of mining profits each and not 1/200000 (until IPO break-even). If unsold shares received dividends, however, they shouldnt have been entitled to IPO break-even privileges, because nobody actually invested. In either case there are contradictions of what has been stated here.

Please clarify this. Maybe i just dont get it...

yes, and it would also work as advertisement to the auction. so maybe isn't bad idea to create accounts on few other pools with names that would advert the auction few days before it begins.

and I think that good think would be to sell boards/units with different hash speed. that would be great for people that would like to start with mining. I think that they would prefer to buy new ASCI board instead of FPGA board, but also would like something not so expensive for the first try. -or simply the do not have so much money. and If power requirements are not exotic, units without power module could also be available. I'm not saying to have units like this from prepared for this auction, but in the long run we should not target just on big and expensive units. targeting and selling to mining beginners and "broke students" could earn some money too.

As an answer to:

So expect the distribution key to be 164k:236k, and in future 1/163,962 over 41% of all dividend payments for each share. So this is in effect a 5% reduction in dividend payments for ASICMINER shareholders as expected per contract (where 50% would go to ASICMINER). However, this comes with the insurance of no further dilution, which I consider priceless, and for that reason I approve. Also 1/163,962 of 41% is equivalent to 1/200,000 of 50%, so it's not unexpected based on the contract if all shares had sold. (you can see where the fuzziness came from)

Maybe when the auction start the actual machine can be linked to a new account at btcguild. With a name something like "Asicminer auction 1" or so. This way the buyer can see that the machine is already working and can be shipped as soon as he bought it. Plus it would work as an advertisement. And as soon as the buyer bought it the machine is shipped. So that the machine doesnt have to stand there too long and block power supply.
Im interested to see the first auction start.

Selling ASICs will also help alleviate the community's fears of ASICMINER having too much hashing power. So this is also good for the health of the network.

Interesting months ahead...

Are you sure its 50, because burnside stated "no minimum shares" in the thread some posts above. Of cours 50 was the minimum amount at the orderbook thread too, so it would be possible to use the pt instead the now closed thread.

Ignoring all the noise, I will give you my best take on your question.

Currently you have two ways to get REAL ASICMINER shares.

1) Buy them OTC (Over the counter) in IRC or on the bitcointalk discussion forums. If you aren't familiar with WOT (Web of trust) and what not, this perhaps has real risk, as if you send funds to an unknown party and they abscond with them you have no recourse. The benefits are you don't have to worry about one of the exchanges running into issues. (Bearing in mind that if you share your contact info with the passthrough issuer, there are likely remediations if the exchange runs into difficulty.)

2) Buying through one of the two passthroughs. (I assume you by know what a PT is). These were created to provide the benefits of trading on an exchange, since the actual shares can not be. (Automatic order execution, small orders allowed, options writing, not having to deal with individuals that may or may not be trying to rip you off, etc.) Both passthroughs allow you to buy PT shares, and exchange them for real shares at no cost. (Bitfunder traded G-ASICMINER-PT (DeaDTerra) requires a minimum of 250 shares to transfer out, but btct.co traded ASICMINER-PT (burnside) only requires a minimum transaction of 50 shares, which pretty much matches the minimum OTC trades you will find. (People discourage smaller quantity OTC trades so as not to harass Friedcat with too many trivial requests.)

Personally I have traded both via passthroughs and OTC. I prefer using an exchange, so do most of my trading on BOTH of the exchanges (using both passthroughs). They are both solid. Considering that seemingly overnight almost 15% (and growing) of all outstanding ASICMINER shares have made their way onto the passthroughs, I'd say that many other shareholders agree that the convenience of keeping shares in an exchange outweighs the perceived risks. (Remember there are also risks of buying directly from people in IRC and on bitcointalk.)

Since these exchanges trade multiple securities, and not just ASICMINER, I am a bit more comfortable dealing with them. As always, use secure (long) passwords and 2fa (2-factor authentication) where you can.

-helixone

P.S. - If you decide to go with one of the two passthroughs, feel free to PM me, and I can share the differences I have discovered.

What in Burnside's advertisement gives a clear answer to this question? It is highly misleading, and very much a spam advertisement.
It starts with a link to his site, followed by sales pitches, all of which not asked for, and ends with a misleading statement that does not answer the original question.

Penta,
The answer is no. Without relying on an unknown third party your information is not held by friedcat where it would be the only method of claim should the operator dissapear or run off with them to another country like Panama. All shares are in his name, regardless of any list.

Also, SebastianJu has already answered this with a reasonably satisfactory answer, even if not as clear.
https://bitcointalksearch.org/topic/m.1692524

+1

With the huge investment opportunity that ASICMiner continues to represent, we need as much liquidity as possible, and the exchange PT shares are certainly providing that.

Interesting news, thanks for the update friedcat.

He answered a question in the thread about btct.  Why are you so ornery?

I respond to questions or misconceptions.

I'm not interested in spamming anything.  Making sure things are clear however, would seem to be somewhat important.


edited for politeness.

This! Asicminer has the opportunity that they have the miners already available and proof that it works. I think once the auction starts the machine is created already and can be shipped fast. Thats a big opportunity against all competitors. I was ordering an asic from avalon in the last days and its open when it comes to me and how long it takes to get the investment back. That would be really different with asicminer leading to better selling price. Though i wouldnt be one that can afford to buy...


Sounds good with no minimum requirement. In this case the order thread doesnt really has to be revived. It died because someone didnt play by the rules and didnt announce that he has a buyer nor didnt kill his offer at that moment.

@Syloq... i think he clarified only that its possible without minimum to buy real shares there. Thats important now as the orderbook thread is dead.