ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1325.

Deprived

hero member

Activity: 532

Merit: 500

Quote from: LazyOtto on September 11, 2012, 09:14:18 PM

Thank you, friedcat.

Although now I'm a bit confused. (Either due to my poor reading or ignorance no doubt.)

I thought 30,000 shares were offered for general purchase through GLBSE and 170,000 were offered via bulk private/direct sales.

Did it turn out that a lot of those 'private/direct sales' were handled by using GLBSE as a facilitator?

They were done using the GLBSE transfer shares mechanism rather than sold via an ask-wall on the market - that way the bonus shares could be transferred as well (would have been impossible to do it otherwise). i.e. private buyers sent BTC then were transferred shares - without it ever showing up in market listings or market volume.

friedcat

donator

Activity: 848

Merit: 1005

Quote from: LazyOtto on September 11, 2012, 09:14:18 PM

Thank you, friedcat.

Although now I'm a bit confused. (Either due to my poor reading or ignorance no doubt.)

I thought 30,000 shares were offered for general purchase through GLBSE and 170,000 were offered via bulk private/direct sales.

Did it turn out that a lot of those 'private/direct sales' were handled by using GLBSE as a facilitator?

Almost all of them are handled with GLBSE, except those 5,600 shares (also in GLBSE initially).

LazyOtto

sr. member

Activity: 476

Merit: 250

Thank you, friedcat.

Although now I'm a bit confused. (Either due to my poor reading or ignorance no doubt.)

I thought 30,000 shares were offered for general purchase through GLBSE and 170,000 were offered via bulk private/direct sales.

Did it turn out that a lot of those 'private/direct sales' were handled by using GLBSE as a facilitator?

friedcat

donator

Activity: 848

Merit: 1005

Quote from: LazyOtto on September 11, 2012, 02:39:31 PM

Quote from: SebastianJu on September 11, 2012, 02:07:58 PM

Out of interest... how many manually maintaned shares are there that arent handled in glbse?

I consider that a fair/reasonable question.

Yes it is.

It's 5,600 shares from one investor.

It was originally handled by GLBSE, then returned back to us for manual maintaining.

LazyOtto

sr. member

Activity: 476

Merit: 250

Quote from: SebastianJu on September 11, 2012, 02:07:58 PM

Out of interest... how many manually maintaned shares are there that arent handled in glbse?

I consider that a fair/reasonable question.

SebastianJu

legendary

Activity: 2674

Merit: 1083

Legendary Escrow Service - Tip Jar in Profile

Out of interest... how many manually maintaned shares are there that arent handled in glbse?

friedcat

donator

Activity: 848

Merit: 1005

Quote from: matauc12 on September 10, 2012, 03:14:04 PM

which is pretty relevant so makes that api number useless, no?

Because the manually maintained shares came from original sold one. It is for people who would prefer us than a third-party to do the book-keeping of shares and payments for them.

Therefore if the second round of fundraising do not happen, the number of shares in circulation queried by the API could only decrease.

matauc12

hero member

Activity: 658

Merit: 500

Quote from: friedcat on September 09, 2012, 09:27:22 PM

Quote from: friedcat on September 09, 2012, 07:54:40 AM

By the way, the number of the total ASICMINER shares in circulation (not reserved in the account ASICMINER) could be accessed by anyone without the need of paying small dividends or screenshots or any hassles:
https://glbse.com/api/quantity_trading/ASICMINER

It is necessary to mention that the number returned by the API doesn't have the manually maintained shares with private contracts included.

which is pretty relevant so makes that api number useless, no?

friedcat

donator

Activity: 848

Merit: 1005

Quote from: friedcat on September 09, 2012, 07:54:40 AM

By the way, the number of the total ASICMINER shares in circulation (not reserved in the account ASICMINER) could be accessed by anyone without the need of paying small dividends or screenshots or any hassles:
https://glbse.com/api/quantity_trading/ASICMINER

It is necessary to mention that the number returned by the API doesn't have the manually maintained shares with private contracts included.

friedcat

donator

Activity: 848

Merit: 1005

Quote from: ?? on ??

Jutarul... i dont think that a investor was it. Because he sold exactly everything till 0.1BTC. That means he has to pay the fee, which means a small loss, and he couldnt sell all his shares this way because he could only sell to offers that are open. So i doubt its an investor that feared something. Friedcat seems to me still has the highest probability.

And why should friedcat start a motion about it? Thats not necessary. Because it was clearly stated that 200,000 shares will be sold to the public. And the already sold shares doesnt have a higher value when the rest isnt sold. Because the rest of the 200K are still owned by bitfountain and they would get the dividend for them like the rest of the shareholders of the 200K. Which means there isnt a motion needed because there is no devalue of the already sold shares.

I have sold no more shares after I announced the close of the IPO and the execution of all pending pre-orders. And that was more than 1 week ago.

If we will ever sell the rest ASICMINER shares, it would be after a fully appreciation of the price and we are in need of money to do large expansions. In this round, the fund raised is enough to cover the NRE cost and offer necessary backups, thus selling more is just diluting Bitfountain with not much benefits.

By the way, the number of the total ASICMINER shares in circulation (not reserved in the account ASICMINER) could be accessed by anyone without the need of paying small dividends or screenshots or any hassles:
https://glbse.com/api/quantity_trading/ASICMINER

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

Quote from: bitfair on September 08, 2012, 06:15:51 PM

I believe discounts on purchasing mining gear for investors on the ASICs would be hugely unfair to those shareholders who are not interested in personally buying ASIC equipment. It would be like offering extra benefits for just a single group of investors at the expense of the rest.

However, if a shareholder purchases mining gear from the company, he will automatically get an indirect discount in the form of the dividends payed on the shares at a later date - part of which is profit from his own purchases. This will not favor any particular group of investors at the expense of another, and IMHO is a better approach.

And it also avoids all the complications of proving ownership, discounts proportional to the number of shares, etc., that have been distracting this thread for the last week or so...

How about no discounts, but prioritized processing/shipping? Perhaps give shareholders a day or two of advantage to place orders before it opens for general public.

friedcat

donator

Activity: 848

Merit: 1005

Quote from: SebastianJu on September 08, 2012, 05:49:26 PM

Maybe only friedcat sold shares for everyone that bids at least 0.1BTC for a share? Or a shareholder sold his shares because he knows he can still get more shares for 0.1BTC from friedcat? But i tip on friedcat because selling the shares for exactly 0.1BTC wouldnt make sense for a shareholder.

Anyway... i sent a pm to you, friedcat, on thursday but didnt get an answer while i see you online all the time.

Thanks!
Sebastian

I'm sorry for replying late. As I promised, timely reply will resume from today. And I will reply to all unanswered PMs and mails.

bitfair

sr. member

Activity: 362

Merit: 250

Quote from: puffn on September 08, 2012, 06:32:04 PM

If you own 10% of shares, and you purchase company equipment, you will receive a 10% discount of the profits of the sale anyway from your ownership. No other discount is needed.

In fact, if you sell at a discount especially at the beginning, you will not be maximizing revenue for the company. This sort of policy will make much more sense when demand slackens and the marginal board cannot be sold immediately.

+1

puffn

full member

Activity: 126

Merit: 100

If you own 10% of shares, and you purchase company equipment, you will receive a 10% discount of the profits of the sale anyway from your ownership. No other discount is needed.

In fact, if you sell at a discount especially at the beginning, you will not be maximizing revenue for the company. This sort of policy will make much more sense when demand slackens and the marginal board cannot be sold immediately.

bitfair

sr. member

Activity: 362

Merit: 250

I believe discounts on purchasing mining gear for investors on the ASICs would be hugely unfair to those shareholders who are not interested in personally buying ASIC equipment. It would be like offering extra benefits for just a single group of investors at the expense of the rest.

However, if a shareholder purchases mining gear from the company, he will automatically get an indirect discount in the form of the dividends payed on the shares at a later date - part of which is profit from his own purchases. This will not favor any particular group of investors at the expense of another, and IMHO is a better approach.

And it also avoids all the complications of proving ownership, discounts proportional to the number of shares, etc., that have been distracting this thread for the last week or so...

ninjaboon

legendary

Activity: 2128

Merit: 1002

Quote from: LazyOtto on September 06, 2012, 09:37:37 AM

Quote from: imsaguy on September 06, 2012, 09:32:45 AM

IF I'm not mistaken, the IPO has finished, which means the bonus offer isn't available anymore.

That is my understanding.

I guess picking it up from the market price is better. Its going for a really low price on GLBSE now

Jutarul

donator

Activity: 994

Merit: 1000

Quote from: SebastianJu on September 08, 2012, 05:49:26 PM

Maybe only friedcat sold shares for everyone that bids at least 0.1BTC for a share? Or a shareholder sold his shares because he knows he can still get more shares for 0.1BTC from friedcat? But i tip on friedcat because selling the shares for exactly 0.1BTC wouldnt make sense for a shareholder.

Anyway... i sent a pm to you, friedcat, on thursday but didnt get an answer while i see you online all the time.

Thanks!
Sebastian

It's unlikely that friedcat would put more shares on GLBSE for sale without issuing a motion.
It's more likely that one of the speculators is loosing patience. (After all ASICminer won't produce dividends until November). That would also explain why the price is not going below 0.1, because the speculator doesn't want to loose money on it.

Anyway - that's good news for anyone who wants to invest and hasn't done so yet, because that keeps the buying window open even longer...

irritant

sr. member

Activity: 473

Merit: 250

Sodium hypochlorite, acetone, ethanol

friedcat: do you have any more pictures maybe? or something to show

SebastianJu

legendary

Activity: 2674

Merit: 1083

Legendary Escrow Service - Tip Jar in Profile

Maybe only friedcat sold shares for everyone that bids at least 0.1BTC for a share? Or a shareholder sold his shares because he knows he can still get more shares for 0.1BTC from friedcat? But i tip on friedcat because selling the shares for exactly 0.1BTC wouldnt make sense for a shareholder.

Anyway... i sent a pm to you, friedcat, on thursday but didnt get an answer while i see you online all the time.

Thanks!
Sebastian

EskimoBob

legendary

Activity: 910

Merit: 1000

Quality Printing Services by Federal Reserve Bank

ASICMINER is getting dumped hard.
I guess someone had a bad flashback from 2011 Asic miner scam from China and freaked out.

...and bots are following.

Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1325. (Read 3917029 times)