Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 51. (Read 3917058 times)
March 11, 2015, 11:38:38 PM
where is the cat?
March 11, 2015, 09:47:25 PM
But that's not an option:
Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.
Meh... True... unless you hold the purse-strings, and decide to say "Fuck it.. I'm only paying myself.." or new shareholders brought onboard.
Why dilute when you can just erase?
(Opens excel spreadsheet, highlights shareholder bitcoin addy entries... presses delete.. Presses Save.")
(Open - New File..> Now offering 1/3 of our new company to new investors.... Bitfountain's shares stay intact/transferred..)
Done.
Bitfountain already owns approximately 60% of the company. They don't have to dilute or erase current shareholders to sell 1/3 of the company:
No Future Dilution Each share of ASICMINER always
represents 1/400,000 of the whole company. If we have to attract more investors
in the future, we will only sell our own Bitfountain shares.
represents 1/400,000 of the whole company. If we have to attract more investors
in the future, we will only sell our own Bitfountain shares.
March 11, 2015, 09:34:32 PM
But that's not an option:
Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.
Meh... True... unless you hold the purse-strings, and decide to say "Fuck it.. I'm only paying myself.." or new shareholders brought onboard.
Why dilute when you can just erase?
(Opens excel spreadsheet, highlights shareholder bitcoin addy entries... presses delete.. Presses Save.")
(Open - New File..> Now offering 1/3 of our new company to new investors.... Bitfountain's shares stay intact/transferred..)
Done.
March 11, 2015, 09:32:12 PM
...
I hear that some parties are considering legal steps. Let me tell you that from experience this won't end well for anybody and only results in wasting money on the parasitic elements of our economy. ...
I hear that some parties are considering legal steps. Let me tell you that from experience this won't end well for anybody and only results in wasting money on the parasitic elements of our economy. ...
My army of bankers, politicians, and lawyers can hardly be considered "parasitic elements". They could have prevented this unfortunate mess.
March 11, 2015, 09:28:30 PM
Best case scenario: they get investors with fresh money, giving them a priority deal - diluting current shareholder's stake worse than 1:1 on new capital.
But that's not an option:
Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.
March 11, 2015, 08:38:39 PM
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.
If you can get "a few hundred" shares of Apple for $20k, hook me up
It was in the same ballpark. I spent more on apple than I would have buying a board seat - But, way less anxious about the investment.
March 11, 2015, 08:26:56 PM
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
It would still be fairly expensive even at 0.013 5000 shares is 65 BTC
@ 300 USD = $19,500
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
It was a nice dream while it lasted, with a honeymoon period and then a slow then steady decline
Obligatory depression post:
5000 shares at the peak of AM = 30,000 BTC+ @ that times BTC price = $150 BTC) = 4.5 million
Today: $18k and change.
March 11, 2015, 08:25:35 PM
March 11, 2015, 08:23:10 PM
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.
If you can get "a few hundred" shares of Apple for $20k, hook me up
March 11, 2015, 07:48:12 PM
What is ASICMiner's bus factor?
This is an excellent question, a pity it was ignored.Or, it was ignored because maybe nobody knows the official answer (since the inner workings of ASICMINER aren't exactly clear), or because it is known that the bus factor is 1.
Took a while, but finally we know the answer to this question.
March 11, 2015, 07:29:39 PM
Alternate scenerio: Chip samples confirmed, all thats lacking is funds.. I'm sure that aside from bitfountain assets/shares (2/3 of AM), that friedcat and David both made some good coin out of AM, sitting somewhere safe. -- the IP is ready to turn into wafers, and the costs were known and planned for already. .. where is that coin hiding? I have a hard time believing they are bankrupt...but i would believe a muti-sig wallet currently inaccessible.
Keep in mind that the current gen chip masks are still good, and the current inventory is unknown... If AM resolves its issues and self-mines with current chips, the only real ongoing cost is electricity.. They could still slowly self-fund a revival... Just dont expect divs soon. Then again, most companies don't pay divs in the real world anyway.
Keep in mind that the current gen chip masks are still good, and the current inventory is unknown... If AM resolves its issues and self-mines with current chips, the only real ongoing cost is electricity.. They could still slowly self-fund a revival... Just dont expect divs soon. Then again, most companies don't pay divs in the real world anyway.
March 11, 2015, 07:21:21 PM
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.
March 11, 2015, 07:17:47 PM
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.
March 11, 2015, 07:08:31 PM
Best case scenario: they get investors with fresh money, giving them a priority deal - diluting current shareholder's stake worse than 1:1 on new capital.
Worst case and seemingly most likely scenario: game over, AM is worth zero and any money made from the IP/assets won't make it to the shareholders.
Worst case and seemingly most likely scenario: game over, AM is worth zero and any money made from the IP/assets won't make it to the shareholders.
March 11, 2015, 07:02:29 PM
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
It would still be fairly expensive even at 0.013 5000 shares is 65 BTC
@ 300 USD = $19,500
not if that is to be 'the new-emblematic-investor' who woudnt obviously mind such cheap buy in.
we're talking industry here ^^
March 11, 2015, 06:54:37 PM
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
It would still be fairly expensive even at 0.013 5000 shares is 65 BTC
@ 300 USD = $19,500
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
It was a nice dream while it lasted, with a honeymoon period and then a slow then steady decline
March 11, 2015, 06:51:50 PM
We believe that it's taken(impounded) by the police and FC arrested.
Well I'll be darned.
March 11, 2015, 06:42:21 PM
We believe that it's taken(impounded) by the police and FC arrested.
March 11, 2015, 06:32:43 PM
They got no insurance (Which is pretty cheap), they deny responsibility(because they probably stole electricity and got caught), they want us to compromise(Give up our rights to some extend) and give them 2 years to fix things
What a hell of a deal.
PS: Seems like there are no real companies in China.
What a hell of a deal.
PS: Seems like there are no real companies in China.
What happened to the equipment? Was it just blatantly stolen? I mean we are talking several 18-wheelers worth of hardware, not exactly something you can pocket and sneak out with.
March 11, 2015, 06:30:37 PM
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
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