ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 688.

Rannasha

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Quote from: BitThink on September 23, 2013, 06:26:44 AM

This time PT shares is handled by burnside, not friedcat. Friedcat does not even have our addresses. But what burnside said is "there are a lot of options", so it seems change PT to direct shares is just one possible option he will take. We need confirmation from burnside what's his solution, but apparently this issue is not on his priority list yet.

Friedcast does have the addresses of PT-investors, in the thread dedicated to burnsides PT, he says that an updated shareholder list is emailed to Friedcat twice per day.

supert

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What happens on div day?

BitThink

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This time PT shares is handled by burnside, not friedcat. Friedcat does not even have our addresses. But what burnside said is "there are a lot of options", so it seems change PT to direct shares is just one possible option he will take. We need confirmation from burnside what's his solution, but apparently this issue is not on his priority list yet.

Mausini

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Quote from: BitThink on September 23, 2013, 06:02:48 AM

Quote from: Caesium on September 23, 2013, 05:59:32 AM

Quote from: dxxw on September 23, 2013, 05:57:54 AM

You have to stand up and say something now friedcat.

What does he have to say? He is emailed the list of shareholders twice a day, the PT shares will become direct shares, this is almost exactly why the email was sent in the first place.

Of all the funds and securities I hold on BTCT right now, this is the one I'm least concerned about.

Any source to confirm PT shares will become direct shares? Thanks.

to those who have not been around for that long:

ASICMINER was originally traded on an exchange called glbse. this exchange went to dust and all shares held by the investors were transferred to direct shares (probably an excel table on friedcats laptop). at that time, this measure was born out of necessity. If glbse wouldnt have gone down, there would not be direct shares. All passthroughs were born to make direct shares efficiently tradable again. One reason firedcat didnt want direct shares to be listed on an exchange like btct is exactly what has happend now. As all pt shares will be transferred back to direct shares, the closing of btct DOES MEAN NOTHING FOR ASICMINER'S BUSINESS.

In short: this has happend before! It will go a lot smoother than last time. it is absolutely not worth panicking about.

nycgoat

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Quote from: supert on September 23, 2013, 06:01:33 AM

Quote from: nycgoat on September 23, 2013, 05:56:53 AM

I have been trying to exercise put options, "Insufficient quantity in the sellers portfolio"

Sad

You need to buy the shares at market in order to put them to the option writer at the strike price.

I know.. Weird.. I will try again

BitThink

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Activity: 882

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Quote from: Caesium on September 23, 2013, 05:59:32 AM

Quote from: dxxw on September 23, 2013, 05:57:54 AM

You have to stand up and say something now friedcat.

What does he have to say? He is emailed the list of shareholders twice a day, the PT shares will become direct shares, this is almost exactly why the email was sent in the first place.

Of all the funds and securities I hold on BTCT right now, this is the one I'm least concerned about.

Any source to confirm PT shares will become direct shares? Thanks.

supert

full member

Activity: 160

Merit: 100

Quote from: nycgoat on September 23, 2013, 05:56:53 AM

I have been trying to exercise put options, "Insufficient quantity in the sellers portfolio"

Sad

You need to buy the shares at market in order to put them to the option writer at the strike price.

BitThink

legendary

Activity: 882

Merit: 1000

Quote from: dxxw on September 23, 2013, 05:57:54 AM

You have to stand up and say something now friedcat.

To be honest, the PT is managed by burnside and not friedcat.

Caesium

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Activity: 546

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Quote from: dxxw on September 23, 2013, 05:57:54 AM

You have to stand up and say something now friedcat.

What does he have to say? He is emailed the list of shareholders twice a day, the PT shares will become direct shares, this is almost exactly why the email was sent in the first place.

Of all the funds and securities I hold on BTCT right now, this is the one I'm least concerned about.

dxxw

newbie

Activity: 35

Merit: 0

You have to stand up and say something now friedcat.

nycgoat

member

Activity: 117

Merit: 10

I have been trying to exercise put options, "Insufficient quantity in the sellers portfolio"

Sad

circuitry

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Activity: 61

Merit: 10

Quote from: runeks on September 23, 2013, 05:34:42 AM

Quote from: circuitry on September 23, 2013, 05:22:11 AM

I managed to snatch a bunch @ 1.28. That's more than 45% annual return.

Even with all the uncertainty and fear, it's a steal.

People who bought at 4.3: "Why not buy? It's a 30% annual return."
People who bought at 3.5: "Why not buy? It's a 30% annual return."
People who bought at 2.5: "Why not buy? It's a 30% annual return."

All of these people are now facing negative returns at current market prices.

Haha, thanks for your input. You're right indeed

But looking at the order book, it doesn't really look like it's going to go down much further. Of course, I'm not going to fool myself and think I can predict the market. I am merely reacting to what I consider an advantageous situation in the middle of a panic.

Well. I made my bet already.

"Interesting times", that's for sure.

runeks

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Quote from: empoweoqwj on September 23, 2013, 05:38:54 AM

Quote from: runeks on September 23, 2013, 05:34:42 AM

Quote from: circuitry on September 23, 2013, 05:22:11 AM

I managed to snatch a bunch @ 1.28. That's more than 45% annual return.

Even with all the uncertainty and fear, it's a steal.

People who bought at 4.3: "Why not buy? It's a 30% annual return."
People who bought at 3.5: "Why not buy? It's a 30% annual return."
People who bought at 2.5: "Why not buy? It's a 30% annual return."

All of these people are now facing negative returns at current market prices.

Thanks for sticking the knife in - we're hurting enough already Wink

Although I realize it might be painful for previous investors to be reminded of this, I think new investors might appreciate this advice.

People keep saying "the annual return is X%", when the fact of the matter is that no one knows what the rate of return will be.

I think it's high time we let this myth die. Your rate of return is something you calculate in retrospect, not something you know before investing in an asset.

empoweoqwj

hero member

Activity: 518

Merit: 500

Quote from: runeks on September 23, 2013, 05:34:42 AM

Quote from: circuitry on September 23, 2013, 05:22:11 AM

I managed to snatch a bunch @ 1.28. That's more than 45% annual return.

Even with all the uncertainty and fear, it's a steal.

People who bought at 4.3: "Why not buy? It's a 30% annual return."
People who bought at 3.5: "Why not buy? It's a 30% annual return."
People who bought at 2.5: "Why not buy? It's a 30% annual return."

All of these people are now facing negative returns at current market prices.

Thanks for sticking the knife in - we're hurting enough already Wink

runeks

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Activity: 980

Merit: 1008

Quote from: circuitry on September 23, 2013, 05:22:11 AM

I managed to snatch a bunch @ 1.28. That's more than 45% annual return.

Even with all the uncertainty and fear, it's a steal.

People who bought at 4.3: "Why not buy? It's a 30% annual return."
People who bought at 3.5: "Why not buy? It's a 30% annual return."
People who bought at 2.5: "Why not buy? It's a 30% annual return."

All of these people are now facing negative returns at current market prices.

afro25

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Activity: 123

Merit: 100

Quote from: circuitry on September 23, 2013, 05:22:11 AM

I managed to snatch a bunch @ 1.28. That's more than 45% annual return.

Even with all the uncertainty and fear, it's a steal.

Be careful, that's a return based on the previous dividends compared to that price. Actual return will be less until Friedcat brings online the new hashing power.

circuitry

member

Activity: 61

Merit: 10

I managed to snatch a bunch @ 1.28. That's more than 45% annual return.

Even with all the uncertainty and fear, it's a steal.

runeks

legendary

Activity: 980

Merit: 1008

Quote from: Vycid on September 23, 2013, 03:05:44 AM

I gotta be honest with you guys, I am considering buying at 1.2. I delta-hedged some options around 1.3 and thought I'd gotten a great deal. Nope.

I think I might wait for 1.0, on second thought. Who knows what's gonna happen to these shares...

I just exercised my options at around 1.35 per share.

It sucks that burnside hasn't been clear on how options will be handled wrt. the shutdown. I just wanted to get the fuck out of there, and I figured 1.35 per share was an OK price anyway.

EDIT: Oh, and a big fucking "thank you" to SEC for protecting the consumers and forcing this shutdown. Thumbs up SEC!

ninjarobot

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Activity: 761

Merit: 500

Mine Silent, Mine Deep

Love the smell of panic selling in the morning! This little piggy is going to the market

KCBitcoin

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Activity: 224

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i was about to say that the market was recovering, but wow, man, look at the AM share dump

Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 688. (Read 3917468 times)