ASICMINER for dummies? - page 2. | Bitcointalksearch.org

puck2

full member

Activity: 234

Merit: 105

Quote from: burnside on May 07, 2013, 07:03:39 PM

There's a pretty good plan in place should I die in a firey inferno. Wink

See this: https://btct.co/faq (What happens if your main developer gets hit by a bus?), also quoted in the OP here: https://bitcointalksearch.org/topic/m.1574481

Doesn't remove all of the risk. But I think the risk to ASICMINER-PT holders is pretty low.

Oh, I also realize that you (burnside) run both the ASICMINER-PT at BTC-TC and BTC-TC itself, so by my rudimentary calculations (assuming that all the exchanges and PT have "fiery inferno" contingencies), owning PT at BTC-TC poses 16% less "fiery inferno" risk, as there are only two entities (burnside and friedcat) to worry about rather than three (DeadTerra, friedat, bitfunder).

burnside

legendary

Activity: 1106

Merit: 1004

Lead Blockchain Developer

Quote from: puck2 on May 07, 2013, 05:56:32 PM

What are current thoughts opinions, regarding:

G.ASIMINER.PT at Bitfunder
ASICMINER.PT at BTC-TC
ASICMINER with friedcat

As my initial investment has doubled in value, I'm now holding more assets in a passthrough than I'd like. I appreciate the possibility of selling (liquidity) but at the same time, I plan to hold on for dividends for at least a year. I figure with the passthrough I'm really taking on triple the risk, as the exchange could fail/close, the pass-through operator could keel over, and/or friedcat could get hit by a meteor.

If I just held shares with friedcat, I'd lose liquidity but I figure I'd cut my risk of catastrophic loss by 66%.

I know this is mostly obvious, but as this is the dummies board, I thought I'd gauge what others are thinking.

Is friedcat/ASICminer opening up an exchange any time soon? Perhaps after current ASIC deployment?

There's a pretty good plan in place should I die in a firey inferno. Wink

See this: https://btct.co/faq (What happens if your main developer gets hit by a bus?), also quoted in the OP here: https://bitcointalksearch.org/topic/m.1574481

Doesn't remove all of the risk. But I think the risk to ASICMINER-PT holders is pretty low.

puck2

full member

Activity: 234

Merit: 105

What are current thoughts opinions, regarding:

G.ASIMINER.PT at Bitfunder
ASICMINER.PT at BTC-TC
ASICMINER with friedcat

As my initial investment has doubled in value, I'm now holding more assets in a passthrough than I'd like. I appreciate the possibility of selling (liquidity) but at the same time, I plan to hold on for dividends for at least a year. I figure with the passthrough I'm really taking on triple the risk, as the exchange could fail/close, the pass-through operator could keel over, and/or friedcat could get hit by a meteor.

If I just held shares with friedcat, I'd lose liquidity but I figure I'd cut my risk of catastrophic loss by 66%.

I know this is mostly obvious, but as this is the dummies board, I thought I'd gauge what others are thinking.

Is friedcat/ASICminer opening up an exchange any time soon? Perhaps after current ASIC deployment?

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Dabs on May 07, 2013, 12:28:08 AM

So, people are speculating that the value of each individual share is going up? Conversely, people are also speculating that the value of the respective dividends will also go up?

Right now, it doesn't make sense. It makes sense only in that, you can sell your share later for a bit higher than you got it. In the meantime, you're getting 0.005 per week.

Hmmm.. I need to get some bitcoins to buy some shares and see where this will take me.

technically, it's more like .007 per share per week, or at 1.2 btc per share, that's about 30% per year. That's a decent return for your investment, plus the share value.

The dividends will be increasing with all the new hash power. We were getting .007 btc per share at about 7.5-8 TH/s. We're now close to 20 TH/s.

I think people are speculating that the share price will not decrease. So, really, you are storing bitcoins in shares and earning 30% a year interest.

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

So, people are speculating that the value of each individual share is going up? Conversely, people are also speculating that the value of the respective dividends will also go up?

Right now, it doesn't make sense. It makes sense only in that, you can sell your share later for a bit higher than you got it. In the meantime, you're getting 0.005 per week.

Hmmm.. I need to get some bitcoins to buy some shares and see where this will take me.

Franktank

hero member

Activity: 560

Merit: 500

Quote from: Dabs on May 06, 2013, 11:43:48 PM

uh... quick questions:

1. How much is 1 share? (don't care if it's direct or PT)
2. How much is the dividend for 1 share? (or how much was it last Wednesday?)

I'm mildly curious about this, but as you can tell, it's not easy to get. (both the coins, and the share.)

1. Who knows? It currently ranges from 1.2 (on PT) up to 1.7/1.8. Others have speculated its still undervalued with what friedcat and co have planned for ASICMiner.

2. Currently .005 - .007 but https://bitcointalksearch.org/topic/m.1767379

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

uh... quick questions:

1. How much is 1 share? (don't care if it's direct or PT)
2. How much is the dividend for 1 share? (or how much was it last Wednesday?)

I'm mildly curious about this, but as you can tell, it's not easy to get. (both the coins, and the share.)

furuknap

sr. member

Activity: 294

Merit: 250

http://coin.furuknap.net/

Quote from: statdude on April 25, 2013, 11:18:54 PM

Update:

Called the 800 # and was promptly helped.

A little unfortunate no email/forum PM help after days but the guy on the # was great.

Yeah, that's not exactly building confidence in a service where I'm supposed to put my investments.

Sorry, I'll remain with BTCT. Too bad, really, there were some securities on BF I would consider if trading wasn't such a PITA.

.b

statdude

legendary

Activity: 1498

Merit: 1000

Update:

Called the 800 # and was promptly helped.

A little unfortunate no email/forum PM help after days but the guy on the # was great.

statdude

legendary

Activity: 1498

Merit: 1000

Quote from: ex-trader on April 19, 2013, 03:44:47 AM

Quote from: furuknap on April 18, 2013, 08:54:24 PM

I've tried signing up on weexchange several times and always get a "Whoops, something went wrong" and no further explanation and no account created.

Me too! The verification passowrd they sent me to confirm didn't work. Tried the process twice with two different accounts and got the same thing - crappy system.

Same here.

Posted our issue here: https://bitcointalksearch.org/topic/m.1927722

Wonder if they are just going to lose all their biz to BTC-TC, or fix this?

talnted

full member

Activity: 236

Merit: 100

www.bitcoingem.com

Quote from: maxmint on April 22, 2013, 04:43:49 PM

Quote from: talnted on April 22, 2013, 04:41:38 PM

Quote from: maxmint on April 22, 2013, 04:20:18 PM

Quote from: creativex on April 22, 2013, 04:17:33 PM

Quote from: maxmint on April 22, 2013, 03:20:56 PM

I just purchased a couple of ASICMINER shares here on the forum (no PT but real shares). Friedcat already sent an email and told me that the shares were transfered, but is there any way to check this online? Is there any proof that I'm owning the shares?

Not currently, but if friedcat sent you a confirmation, then you can bank on it. His word has been gold every time I've dealt with him.

Alright, that's good to know. Thanks.

Did the email you receive confirm the transfer from Diablo's auction? If so, he has not notified everyone else of the transfer

I took part in two auctions and just got a general confirmation email, so I'm not sure which shares acutally got transferred – that's why I was asking if there was a way to look up my shares somehow.

When dividends get sent, you recieve a satoshi for each share you own prior to dividends being sent. That is also a way to verify how many shares he has on record for you.

maxmint

hero member

Activity: 700

Merit: 500

Quote from: talnted on April 22, 2013, 04:41:38 PM

Quote from: maxmint on April 22, 2013, 04:20:18 PM

Quote from: creativex on April 22, 2013, 04:17:33 PM

Quote from: maxmint on April 22, 2013, 03:20:56 PM

I just purchased a couple of ASICMINER shares here on the forum (no PT but real shares). Friedcat already sent an email and told me that the shares were transfered, but is there any way to check this online? Is there any proof that I'm owning the shares?

Not currently, but if friedcat sent you a confirmation, then you can bank on it. His word has been gold every time I've dealt with him.

Alright, that's good to know. Thanks.

Did the email you receive confirm the transfer from Diablo's auction? If so, he has not notified everyone else of the transfer

I took part in two auctions and just got a general confirmation email, so I'm not sure which shares acutally got transferred – that's why I was asking if there was a way to look up my shares somehow.

talnted

full member

Activity: 236

Merit: 100

www.bitcoingem.com

Quote from: maxmint on April 22, 2013, 04:20:18 PM

Quote from: creativex on April 22, 2013, 04:17:33 PM

Quote from: maxmint on April 22, 2013, 03:20:56 PM

I just purchased a couple of ASICMINER shares here on the forum (no PT but real shares). Friedcat already sent an email and told me that the shares were transfered, but is there any way to check this online? Is there any proof that I'm owning the shares?

Not currently, but if friedcat sent you a confirmation, then you can bank on it. His word has been gold every time I've dealt with him.

Alright, that's good to know. Thanks.

Did the email you receive confirm the transfer from Diablo's auction? If so, he has not notified everyone else of the transfer

maxmint

hero member

Activity: 700

Merit: 500

Quote from: creativex on April 22, 2013, 04:17:33 PM

Quote from: maxmint on April 22, 2013, 03:20:56 PM

I just purchased a couple of ASICMINER shares here on the forum (no PT but real shares). Friedcat already sent an email and told me that the shares were transfered, but is there any way to check this online? Is there any proof that I'm owning the shares?

Not currently, but if friedcat sent you a confirmation, then you can bank on it. His word has been gold every time I've dealt with him.

Alright, that's good to know. Thanks.

creativex

sr. member

Activity: 434

Merit: 250

Quote from: maxmint on April 22, 2013, 03:20:56 PM

I just purchased a couple of ASICMINER shares here on the forum (no PT but real shares). Friedcat already sent an email and told me that the shares were transfered, but is there any way to check this online? Is there any proof that I'm owning the shares?

Not currently, but if friedcat sent you a confirmation, then you can bank on it. His word has been gold every time I've dealt with him.

maxmint

hero member

Activity: 700

Merit: 500

I just purchased a couple of ASICMINER shares here on the forum (no PT but real shares). Friedcat already sent an email and told me that the shares were transfered, but is there any way to check this online? Is there any proof that I'm owning the shares?

ex-trader

sr. member

Activity: 298

Merit: 250

Quote from: furuknap on April 18, 2013, 08:54:24 PM

I've tried signing up on weexchange several times and always get a "Whoops, something went wrong" and no further explanation and no account created.

Me too! The verification passowrd they sent me to confirm didn't work. Tried the process twice with two different accounts and got the same thing - crappy system.

puck2

full member

Activity: 234

Merit: 105

Quote from: furuknap on April 18, 2013, 08:54:24 PM

Quote from: puck2 on April 17, 2013, 02:01:57 PM

The weexchange passthrough is painless, though their interface leaves a bit together. Your BTC only need be there for a few minutes.

I've tried signing up on weexchange several times and always get a "Whoops, something went wrong" and no further explanation and no account created.

I'm sure there isn't anything fishy going on, but I generally stay away from stuff that looks half-way done and poorly maintaned. I'd love to be on bitfunder, but for now, I trade on BTCT.

.b

Agreed... The weexchange website is pretty lame, but my BTC just stay there for a few minutes, so I'd have to be really unlucky for something bad to happen...

furuknap

sr. member

Activity: 294

Merit: 250

http://coin.furuknap.net/

Quote from: puck2 on April 17, 2013, 02:01:57 PM

The weexchange passthrough is painless, though their interface leaves a bit together. Your BTC only need be there for a few minutes.

I've tried signing up on weexchange several times and always get a "Whoops, something went wrong" and no further explanation and no account created.

I'm sure there isn't anything fishy going on, but I generally stay away from stuff that looks half-way done and poorly maintaned. I'd love to be on bitfunder, but for now, I trade on BTCT.

.b

velacreations

sr. member

Activity: 476

Merit: 250

now is a good time to sell on bitfunder, prices are really good.

Topic: ASICMINER for dummies? - page 2. (Read 13704 times)