Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1219. (Read 3917029 times)
I guess Bitfountain owned 400 000 shares of ASICMINER (which is company) and sold ~150k of these shares. They planned to have 200k shares and 200k would be owned by smaller investors. But that didn't work out, so about 50k shares are still owned by Bitfountain plus 200K which was always planned.
My understanding was that 200`000 shares belong to Bitfountain, 200`000 to ASICMINER company. ASICMINER sold some of the shares in thr IPO to raise capital. It is not clear at all what the fate of unsold shares is, nor what the fate of their dividends is.
I understood it the way that asicminer isnt a company in itself. Bitfountain is the only company involved behind. And Asicminer is only a name for the project. Otherwise... if it would be a company someone has to own it. And he would own the shares then. But it would be strange that one company would sell all of itself like it was planned with the 200000 shares.
I am not savvy about how IPOs generally work, but it seems to me that some % of the company is basically without ownership. If each share presently in the hands of public shareholders represents 1/400000 of the company, as do the primary shareholders, where does the ~46K of unsold shares reside? I am accustomed to an IPO having underwriters, so unsold share are the obligation of the underwriter to purchase. But this is obviously not the case here, given the unorthodox market in which we traded.
So, did those unsold shares disappear? Do we the scale up the existent shares, or are they now the property of the primary shareholders, effectively giving them their 200K share plus the 46K unsold IPO shares? Or are there really only about 354K share total?
So, did those unsold shares disappear? Do we the scale up the existent shares, or are they now the property of the primary shareholders, effectively giving them their 200K share plus the 46K unsold IPO shares? Or are there really only about 354K share total?
Im not a pro either but all 400000 shares were owned by bitfountain from the start. They sold 145000 or so and the remaining shares are still theirs.
I am not savvy about how IPOs generally work, but it seems to me that some % of the company is basically without ownership. If each share presently in the hands of public shareholders represents 1/400000 of the company, as do the primary shareholders, where does the ~46K of unsold shares reside? I am accustomed to an IPO having underwriters, so unsold share are the obligation of the underwriter to purchase. But this is obviously not the case here, given the unorthodox market in which we traded.
So, did those unsold shares disappear? Do we the scale up the existent shares, or are they now the property of the primary shareholders, effectively giving them their 200K share plus the 46K unsold IPO shares? Or are there really only about 354K share total?
So, did those unsold shares disappear? Do we the scale up the existent shares, or are they now the property of the primary shareholders, effectively giving them their 200K share plus the 46K unsold IPO shares? Or are there really only about 354K share total?
Im not a pro either but all 400000 shares were owned by bitfountain from the start. They sold 145000 or so and the remaining shares are still theirs.
re: the approximately 46K share that remained unsold after the IPO. Are these considered a current asset of the company that, should they be sold, the proceeds from which will also be distributed to current shareholders?
I doubt they will be sold. Because why should you spread your divididends among more people when you dont need the money raised through these shares?
I am not savvy about how IPOs generally work, but it seems to me that some % of the company is basically without ownership. If each share presently in the hands of public shareholders represents 1/400000 of the company, as do the primary shareholders, where does the ~46K of unsold shares reside? I am accustomed to an IPO having underwriters, so unsold share are the obligation of the underwriter to purchase. But this is obviously not the case here, given the unorthodox market in which we traded.
So, did those unsold shares disappear? Do we the scale up the existent shares, or are they now the property of the primary shareholders, effectively giving them their 200K share plus the 46K unsold IPO shares? Or are there really only about 354K share total?
re: the approximately 46K share that remained unsold after the IPO. Are these considered a current asset of the company that, should they be sold, the proceeds from which will also be distributed to current shareholders?
I doubt they will be sold. Because why should you spread your divididends among more people when you dont need the money raised through these shares?
Yes, but at the moment these shares are still owned by bitfountain. So when they sell them they wouldnt get the dividends for these shares anymore. At least i wouldnt sell it when i dont need and the asics bring enough money in to reinvest.
re: the approximately 46K share that remained unsold after the IPO. Are these considered a current asset of the company that, should they be sold, the proceeds from which will also be distributed to current shareholders?
I doubt they will be sold. Because why should you spread your divididends among more people when you dont need the money raised through these shares?
re: the approximately 46K share that remained unsold after the IPO. Are these considered a current asset of the company that, should they be sold, the proceeds from which will also be distributed to current shareholders?
I doubt they will be sold. Because why should you spread your divididends among more people when you dont need the money raised through these shares?
re: the approximately 46K share that remained unsold after the IPO. Are these considered a current asset of the company that, should they be sold, the proceeds from which will also be distributed to current shareholders?
Just an FYI/crosspost. For those who agree with me that ASICMINER is under-valued right now, and who are looking to acquire more shares, please see my share sale post at https://bitcointalksearch.org/topic/wts-204-asicminer-shares-for-155btc-total-075share-sale-pending-158089
Just cross-posting here for those who may be direct-linking to this thread for updates.
Thanks!
Just cross-posting here for those who may be direct-linking to this thread for updates.
Thanks!
Thanx for your reply.
I just bought 75 shares on BitFunder.
Maybe I bought while the share is on top, and end up loosing it all.
However, the reason for buying is the impression from friedcat, that he's a hard working guy with high level of professionalism, and that he succeed, when so many others failed.
With that type of guy steering the ship, chance of success is somewhat greater.
I'm in this for the long run, so I'll just cross my fingers and stay away from the sell button.
I just bought 75 shares on BitFunder.
Maybe I bought while the share is on top, and end up loosing it all.
However, the reason for buying is the impression from friedcat, that he's a hard working guy with high level of professionalism, and that he succeed, when so many others failed.
With that type of guy steering the ship, chance of success is somewhat greater.
I'm in this for the long run, so I'll just cross my fingers and stay away from the sell button.
I agree 1000%. People can speculate over share price, and talk about it dropping due to FriedCat and his team getting paid what they deserve.
I think the share are worth far more, not just because of the dividends, but because of the people that have made this possible.
Sometimes it is not all about money. I forcast a normal 1BTC price per share in the near future.
I have been very impressed with Friedcat. Think of the vast amounts he could have kept, or even paid back the IPO price and said "sorry".
He could have easily funded continued expansion for himself/his group. Instead he is keeping his word, and has become one of the most honest and trusted people in bitcoinland.
I look forward to greater things from Friedcat and Asicminer.
Props and thumbs up to Friedcat and his team for this continuing great success.
I couldnt agree more.
Looks like they are making some moves onto Ozcoin.
EDIT: Hmm, it was showing about 750,000 on Ozcoin (plus the 5.8gh on BTCGuild) a few minutes ago. Now, it's only at about about 200,000 at Ozcoin.
EDIT: Hmm, it was showing about 750,000 on Ozcoin (plus the 5.8gh on BTCGuild) a few minutes ago. Now, it's only at about about 200,000 at Ozcoin.
Regarding hashing, difficulty was recently increased with 38%.
Most dramatic increase since june -2011.
https://docs.google.com/spreadsheet/ccc?key=0AmcTCtjBoRWUdHVRMHpqWUJValI1RlZiaEtCT1RrQmc#gid=0
Most dramatic increase since june -2011.
https://docs.google.com/spreadsheet/ccc?key=0AmcTCtjBoRWUdHVRMHpqWUJValI1RlZiaEtCT1RrQmc#gid=0
Their customers would love that... at least it would mean they are capable of producing a functioning ASIC.
Not even that, that would only proof they are capable of hiring a contractor that is able to produce a functioning ASIC.
Someone knows where the 15TH/s comes from that are added in the last days? http://blockchain.info/de/charts/hash-rate
Avalon?
Avalon?
Personally, I suspect it's BFL mining with their customers gear. I mean, do you really think they could resist that temptation? Especially when their actions don't appear to have any consequences whatsoever?
I really don;t think they have a working ASIC yet... especially considering their actions up till now
Conceded!
However, imagine if they have, for example, overestimated the power efficiency of the chips (I consider this very likely): sending them to customers would create desperate cries of scamming ("Chips do not meet spec!!!!"), but mining with them is still outrageously profitable.
Anyway, they haven't made an official statement for about 10 days, when they claimed they were testing the chips. But one thing I think can be agreed: either they are less competent than they initially claimed to be, or they are intentionally misleading their customers. Pick whichever theory you prefer, it still doesn't make them look very good.
But it makes ASICMINER look that much better!
Someone knows where the 15TH/s comes from that are added in the last days? http://blockchain.info/de/charts/hash-rate
Avalon?
Avalon?
Personally, I suspect it's BFL mining with their customers gear. I mean, do you really think they could resist that temptation? Especially when their actions don't appear to have any consequences whatsoever?
Their customers would love that... at least it would mean they are capable of producing a functioning ASIC.
Someone knows where the 15TH/s comes from that are added in the last days? http://blockchain.info/de/charts/hash-rate
Avalon?
Avalon?
Personally, I suspect it's BFL mining with their customers gear. I mean, do you really think they could resist that temptation? Especially when their actions don't appear to have any consequences whatsoever?
I really don;t think they have a working ASIC yet... especially considering their actions up till now
Someone knows where the 15TH/s comes from that are added in the last days? http://blockchain.info/de/charts/hash-rate
Avalon?
Avalon?
Personally, I suspect it's BFL mining with their customers gear. I mean, do you really think they could resist that temptation? Especially when their actions don't appear to have any consequences whatsoever?
Wasnt that up to 50%? And i think there isnt much room for needed investments yet. Because the next batch is paid in full, loans are paid back and so on. Power cost will be hold in but besides that i dont see that another 50% will be needed for reinvestment.
Because of upcoming competition, it seems wise to reinvest a large part of the profits rather than paying out insane dividends all the time. My opinion is that for the long term interests of the company, profits should be reinvested in (1) next-gen chips, (2) developing consumer-friendly miners for sale and (3) developing industrial scale miners for sale.
Mining is about to become a very crowded space, and the advantage of ASICMINER is the fact that it they have developed their own technology - and it is important to leverage that advantage for the long-term.
Eventually the acquisitions department of some well-known entity will come around and make all ASICMINER investors rich...
Someone knows where the 15TH/s comes from that are added in the last days? http://blockchain.info/de/charts/hash-rate
Avalon?
Avalon?
Jump to: