Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1344. (Read 3916324 times)

Throwing more shares at the public offering doesn't make sense right now and would even play into the hands of those who go short on this IPO. If you're seriously concerned about investing into this company then try the bulk purchase if there's still some available.

I guess what friedcat "could" do is to set aside a chunk of shares for small investors and ask somebody to maintain an order book. Then after the IPO succeeds those shares should be handed to the individuals through the GLBSE transfer system. However, I already see some volunteers doing this in effect: e.g. HorseRider. But it would be better if there would be ONE TRUSTED person doing this, which also has an option on those shares!

 

I'm already a bulk investor myself and paid all the bitcoin and bought the number of shares I want to buy.
If you are a retail investor who wants to buy the share at the price of 0.1BTC, please PM me such information in such order:


GLBSE account   Forum ID   Bitcoin amount


1. GLBSE account is for the share transfer
2. I know your Forum ID for your message, but it will be convenient for me to paste in the sheet.
3. Bitcoin amount should be >=20 5BTC, and I will round it down to 1 digit.


After I get your PM, I will provide you a bitcoin address. and please send the coins to the address I give you.
I will transfer the shares to your GLBSE account after I get the shares.

I think this is meaningful: your money is buying the new shares, not old shares from me. I'm not selling my old shares to the public.

• No charge back request accepted, I will just transfer the shares to you if you have sent your money.
  If you send more money than you claim in the end, I will transfer the equivalent shares to your GLBSE account.
  Before the transfer job is done, I will edit this post and make announcement that I will no longer accept money.
  I won't reply to confirm you that I get the money. the blockchain will confirm it for us. My PM reply is enough evidence if I'm scamming you.
  Theoretically speaking, it is impossible to avoid the situation that you sent me the money and the IPO is already over, and I haven't order enough shares from friedcat. If this happens, those who send me the money first will have priority to get the shares I have, the others will get their money back.
  

Edit


Friedcat has just set up a new and dedicated address for me. Any money sent me by the retail investors will be transfer to that address immediately when I have access to internet. When the money reaches that  dedicated address, it will treated as the shares are purchased. However, friedcat only has to do the share transferring a single  time, and I will distributed to others.

I will give a list of the retail investor at the end of the IPO, (the name will only contains the first character and the last one.) and the dedicated address.

The dedicated address is

1JJMCKsPU8FVdJz8fkNiG5zKTNhgEcSRzs

https://blockchain.info/address/1JJMCKsPU8FVdJz8fkNiG5zKTNhgEcSRzs

So that everyone will make sure that all the money have been used to buy new shares.



 As I might will be paying the share transferring fee, so people can donate me some bitcoin this address, thank you.:

1NTnocYbHGg9ERF96qR68Mj8P2m7RfnfQi

Great idea. Indeed, if they sold public share again eventually it will ends up resold at higher price by others.

Get together a group of interested investors and buy a block, then split up the shares accordingly.  Problem solved.  

Edit: plus you'll get the discount.

I still think it's not the fairest way to do it. People browsing GLBSE and reading the IPO there might just decide to pick up shares right there at market price since it mentions nowhere that private buying is an option.

SmiGueL, thank you very much for your criticism. We admit that we have considered not carefully enough when allocating the portion of shares for public sales. But at this moment we would prefer not changing the plan by putting new ask walls, but rather let people directly buy from us.

Yes, but we created it as a clause for more unexpected scenarios.

Our private offering is still open. Interested investors are always welcome to buy directly from us before our IPO succeeds.

1: The first post made clear that 'the ratio may be adjusted' so there could be more shares issued at GLbSE.

2: Current investors knew from the first moment that 200k shares were issued. What would be the difference for them whether the shares are sold are private or trough GLbSE?
Totally nothing, 200k shares = 200k shares..

The ONLY difference is that if the 30k shares were sold out, they could probably sell them with a big profit.
So actually, by not issuing more shares, u are supporting the people (who actually don't give a .... about the company, because they bought them to sell with profit) who are trying to rip other REALLY potential investors off..

Ah, I assumed private sales were 5000+ shares

Thanks for clearing that up

Thanks. The 5,000 and 10,000 thresholds are for becoming board members and have more extra shares. There are practically no threshold for bulk purchase. However I would prefer larger numbers, say, >500 shares, to reduce our manual work of the GLBSE transferring system.

Our posts crossed and I never review newer posts before pressing enter

Indeed,

It says initially 30.000 are for public sale, the ratio might be adjusted

I can understand if you want to keep it at 30.000, but then I suggest you lower the threshold for private sales

What will happen if not enough funds are raised when private sales are insufficient, yet many people want to buy smaller lots of stock, and are now even willing to pay over the 0.1 initial pricing ?

I am sorry but the number of 30,000 for public sale and 170,000 for private bulk sale was written in the thread at the time this IPO has started. And also, as I said in the reply above, no shares will be put as ask walls by ourselves.

I feel a bit cheated buying shares above IPO price when the IPO isn't done yet. If I would have known there would be more shares coming I would rather have waited.

I would also appreciate it if there would be another 30k shares on GLbSE
I read about this yesterday, but in the evening every share was gone (or reselled for BTC.25  )
But I want to support this project and buy from you directly..

Really want 100 shares

I will be selling at close to the IPO price if anyone is interested PM me or place a bid and I will fill it ^^
//DeaDTerra

Thanks for your suggestion. We indeed have considered it. However, all current investors' choices are made on the expectation that 30,000 shares are publicly sold and the rest are for private bulk sale. We feel that it is not a good idea to change people's investment assumptions by changing our IPO policy. So we would rather keep the plan as it was, and let the market settle everything down.

As not all the shares allocated for private sales have sold yet but the 30.000 shares on GLBSE sold out within 4 days wouldn't it make more sense to try and sell part of those shares allocated for private sales on GLBSE ?

Keep it totally transparent so people know exactly how many shares are up for grabs (private and GLBSE)

That will also keep arbitrage in this 'pre-ipo' at a minimum

I have received some documents, and from what I can tell the company Bitfountain, is registered july 12 in Shenzhen China. I have also received the names of the partners where only two is actually officially shareholders but the third (the hardware wizkid) will be added later on I am told. The names are the same as the owners of Bitfountain, so that's good. There seems to be an agreement with a manufacturer, but I cannot say if that's legit or not.

I have not (yet) been able to make up my mind about the viability of the project, or gotten any assurances. But Friedcat seems trustworthy and he's a Haskell* programmer, and what scammer would be a Haskell programmer? That's like a contradiction in terms, lol.

We'll see.





*)  Haskell=obscure programming language, of which I am a fan.

Thanks for your questions.

Yes. For a 60-120kW operating, the most similar places are local net-cafes. Larger ones have different electricity cables more close to those of industrial uses than family ones. This is why we have taken the place rent into consideration, it also contains the effort of (industrial-level) power supply.

Yes, we are aware of those risks, but we haven't immediately began to work on it because currently the highest priority is making our IPO succeed, our design reliable, and our production on time.

In fact there might be more "real-world" attacks like theft. All of them should be finally taken account. We feel that, solving them in parallel with the mask-set production as well as PCB production, are a good idea.

You are welcome. More questions and suggestions are always welcome.

I have two practical questions for your initial mining phase.

Assume one chip is consuming 5-10 Watts (per GHps), your 12THps rig would pull 60-120kW from the wall. Now that's a fat power plug for those used to limit their mining rigs to 1.5kW Are you prepared to facilitate according needs?

Second, are you prepared to secure the proper continuous operation of that 12TH rig in terms of immunity to external impacts? We see how the large pools have been under DDoS attacks every now and then and needed to gradually implement counter measures to provide their services. Now if you pop up with a hashing power worth the largest three pools have combined, you inevitably become a target. Are you aware of those risks, and prepared?


Thanks for your answer and the transparency you provided so far.