Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1218. (Read 3917029 times)

Imho that is a market maker. Look at the trade history. Look at how many of the initial 940 shares for sale @ 0.7 were actually sold (or even for less), and how many are left...

Chill out! ^^

A quick back-of-the-envelope valuation: imagine they reach the goal of 10% of the network hashing power, meaning 360 BTC/day, then annualise it and apply a P/E ratio of, say, 10, and you should end up at 3.285 BTC/share.

So it appears slightly undervalued in the market today... (or people in general don't believe ASICMINER can keep 10% of total hashing power)

If this is in fact the position of the company, awesome.  It is good to finally have clarification on that point.

I think exactly the same. The rumours spread that now its not only half the dividend but maybe even a fourth only because of kept investment money is probably the reason for this. Plus the long lasting 6TH/s isnt advantageous. So i expected a drop. But im astonished how low it fell. I think that will go up soon again. At least in 8 days, when the next real dividend is paid.

Right now you can get up to 940 shares at 0.70 each just based on the asks.  Seems like a bargain to me.

this is because some of the investors are short-sighten in my opinion. They can only see the projected lowering in dividends and can't think long-term enough to wait for deployment of the 50 Thash/s batch

the price is falling because people (like me) are taking their profits.
should've sold them earlier.

let me show:

bought 150 @ 0.1 (BTC was at what, like 5€?)  INPUT: 450€.
got 15 BTC dividends (BTC AT 55€) OUTPUT 1: 825€
sold the 150 at 0.7 (BTC at 60€) OUTPUT 2: 6300€

DUCY?

   The price is falling because of all the confusion about the extra 35k shares!

As a service to the community I will accept them in a selfless act of charity, relieving everyone of the stress from worrying about their fate.   

Thank you for this.

I thought they were trying to confuse everyone in good faith of getting some shares :-p

It's amazing how long this confusion lasts. The blame must lie somewhere between the unorthodox nature of this investment (i.e. self-managed) and the fallout from GLBSE. Normally all equity has to be clearly distributed BEFORE fund-raising, and this was stated in the original contract. That's why in principle 200k shares are associated with the founders (bitfountain) and 200k are associated with the equity ASICMINER.

The fact that not all shares were sold doesn't automatically upgrade the share holdings of the founders. The 35k shares are unsold equity and owned by the "company" bitfountain and can be used in future fund raising. All dividends payed to these 35k shares goes directly into retained earnings, which may make its way into dividend payments again. (Thus in effect the "dividend" payed to the 35k gets redistributed in a 200k:165k fashion between the founders and the ASICMINER shareholders). The recursion here can be a bit confusing at first, but is only important when dividends are payed.

Thus the proper distribution for dividends is 200k:165k, and NOT 235k:165k. However, for simplicity bitfountain may decide to pay dividends according to the 1/400,000 rule, at which the distribution becomes 200k:200k, and the 35k dividends to the unsold equity makes it into the next dividend payment or company financing, because they act as retained earnings...

friedcat may want to clearly make a statement on how he wants to implement this (200k:165k or 200k:200k with delayed dividend), before he prepares the next dividend payments and signs off the financial statements.

Indeed, it is simple. But you still get it wrong: each ASICMINER share is entitled to 1/400 000 of the profit from this venture. No special provisions for sold/unsold shares.

It is actully very simple.
The unsold IPO shares are considered void until needed for fundraising.

Until then: sold IPO shares are treated as if they represent 200.000 shares.
If bitcoin does 8 decimals so can Asicminer-shares.

Therefore if 163,962 have been sold they are now valued at
1,21979483 times the dividend of a Bitfountain share.

Only friedcat (whose updated OP I quoted) can answer that.

But apart from the exact numbers the most relevant and interesting point imho was raised by gmouse:


Also this can only be answered by friedcat as I cannot find it defined anywhere.

Now im wondering about these numbers. I might remembering wrong but i believe the last stats at glbse showed around 145xxx shares sold. Something around that. Now its 163,962 shares. Are the difference the shares that werent traded through glbse? Then thats probably the foundation of the confusion about the real amount of sold shares.

Look up the definition of "exactly" and spare us, please. 

So it's exactly as I've written it - there are 400k shares, 250k owns Bitfountain and 150k is owned by smaller investors.

They exist. They belong to the founders. They receive dividends, in the same manner as the rest of the 400 000 shares.

That doesn't answer what is happening to those unsold 40k shares. Do they even exist? How is dividend calculated?

You guessed absolutely wrong. Bitfountain is the company, Asicminer is divided in 400 000 from where Bifountain owns 200k. Orginal IPO was for 200k Asicminer shares, but the IPO closed early due target was reached, and there were some shares left. Don't remember exactly, but somewhere around 36-40k.