Topic: ASICMINER Speculation Thread - page 91. (Read 808847 times)

This is plain wrong.
Either it is zero-sum, or it isn't.
Turns out it isn't.
Value can be created and destroyed.

If I have a bottle and I break it, I've likely destroyed value.

If I take a canvas and paint something, I've possibly created value: who buys my painting has less money but has one painting worth that much money (if the trade was fair), and now I have one less empty canvas and some money.

I'm still waiting on Burnside to do my transfer to direct from 27th Sept. So don't hold your breath.

Delayed due to transferring PT from BTCT to HaveLock.

Where are my dividends??? Havelock has still not paid out and Wednesday is over... No word from anyone, what is going on?

From the prospectus: https://www.havelockinvestments.com/fund.php?symbol=AM1

- Each AM1 share has the right to 100% of its respective dividends. There are no asset management fees for AM1 shares.
- There is no fee to import shares. There is no minimum quantity for importing shares. (With multiple import sources, including at the time of writing the other existing passthroughs.)
- One transfer OUT of AM1 will be processed free once per month per account. Subsequent transfers within the same month OUT of AM1 are subject to a fee of 0.25 BTC for transfers of 49 shares or less.
- Transfers OUT of AM1 are always free for any transfer of 50 shares or more.
- Export requests to Friedcat will be submitted within 48 hours of receiving your shares.

This all seems very favorable when compared to either the btct or bitfunder passthroughs (especially bitfunder).

The only "catches" it seems are that the issuer reserves the the following rights:

1. To change schedule of dividends to be in line with any changes in schedule the underlying asset may enact.
2. To change the % of board mining profits withheld if expenses, like electricity, are not covered by the 15% portion being withheld.
3. To make changes to this contract that represent the best interests of its shareholders.
4. To correct and clarify any gross errors or details herein that may prove to be open to misinterpretation.
5. To discontinue import services.
6. To refuse abusive requests of the import/export services offered.

Right now there are basically two places (other than OTC) to trade whole shares. Havelock and bitfunder (G.ASICMINER-PT).

Despite explicit rights in the prospectus, G.ASICMINER-PT's operators have not been allowing share imports OR exports for the past couple of months, so I'd say that it's seems that Havelock is the only game in town for shareholders that want to trade whole shares, and still have the opportunity to export to direct shares. I would also say that it seems inevitable, that over the next few weeks that AM1 will grow to become the largest passthrough.

-helixone

hmmmm 

What're the catches of AM1 in Havelock? Any dividend/tranferin/out fee? Any limitation to transfer out? etc

Havelocks going to see a lot more shares

One withdrawl is free each month

Correct.. 50 share minimum for a free transfer.  Less then 50 costs .25 btc

I can always buy on havelock and withdraw cant I?

0.00486048

Yes, just like every other Wednesday.  I don't think Asicminer ever missed one.

Dividends coming today?

In a mature industry margins are squeezed to zero. The only exceptions are brands, which command a premium. ASICs are becoming commodity hardware and over the whole industry, at the margin, the margins will be driven to zero. In this sense the bears are right.

Asicminer has both early mover advantage, which is short term, and the advantage of having personal relationships with manufacturers in Shenzen to produce hardware at cost. The latter is 'invincible' and it is this you are investing in when buying shares in Asicminer as a mining company. In addition, friedcat has proven adaptable and an astute strategist. There is also a hope therefore he can create new value opportunities as a businessman.

Others' advantages could be hosting costs/power. The franchising model hopefully can marry this with friedcat's manufacturing advantage.

I think the majority of people have misinterpreted this comment, if you read it more clearly it has the opposite connotation, AM is preparing itself so that Gen2 will be competitive even if the ASIC manufacturing industry is faced with single digit % profits. do you see the difference? They will produce Gen2 at a low enough cost that they can chase the margin down to single digits to squeeze the competition. I think the interpretation that GEN2 will be produced and out of the gate only see single digit % profits... i find it laughable that anybody could have made this assumption. my 2 cents.

if you're in the US, I recommend buying direct shares.

Good time to scoop up shares I take it

I have no idea who Vycid is.
Can you tell me where I can buy short positon on AM? love to know.

No, Vycid can at least do math.