Topic: [BitFunder] G.ASICMINER-PT - page 27. (Read 74891 times)

https://bitfunder.com/help I assume its this.

How does that work?

I knew the person selling the shares (in this case the owner of the ASIC-MINER shares transferred in) would get a volume discount - but are you saying the asset issuer gets volume discount for shares he TRADES to people (without ever selling them via the market or paying a fee)?  Isn't that just a little bit abusable?

That makes more sense.  I hadn't thought of the volume discount!

Valve owns steam, and they get a ~30% cut of game sales. So even if you don't pay for one of their games, they still will make a profit from you.

Anyways, letting more people on BitFunder benefits everyone who uses BitFunder. Not just the asset issuers which includes DeaDTerra, but also the users of the exchange due to the greater liquidity.

DeadTerra also works up the sliding fee scale on BF and will pay less fees for selling assets. Plus, like mentioned in the OP pooling together 5k shares gets you a board member seat.

I'm just pointing out that there are numerous direct and indirect benefits DT gets from running this asset

Steam pays those developers for their games.  By that analogy Bitfunder would be paying DeaDTerra?

Edit/Add:  just pointing out that the analogy doesn't fit.  Don't infer anything else please.

G.ASICMINER-PT shouldn't be a permanent asset (unless friedcat decides to permanently postpone his exchange).

Take a look at Steam. They can afford to give away Portal, to make Alien Swarm free, to have TF2 & Dota 2 free to play while not forcing or requiring anyone to pay. They let other retailers like amazon sell their steam games, and they can do it because they want people on Steam. Similar situation with BitFunder I guess.

What are you on about?  I thought this was DeaDTerra's asset?

I'm all for community service projects, but even non-profit managers get paid something.  (I used to work for the National Cristina Foundation.). The problem with free volunteers is they have to put food on the table somehow eventually.

I suppose if enough people beg, he can charge a %. That was just not the original goal.

The goal was to give people a place to trade asicminer until a permanent exchange is setup and they can choose to move them without charge.

Burnside has a point here.
I am also skeptical of anything where the operator has no incentive to continue servicing the asset. Patrick Harnett used the "serving the community" excuse to scam thousands of coins. I wont start with pirate and his "I am bringing 7% a week returns to the community out of the goodness of my heart".

Im not saying this is the same thing but when it comes to this "community" it pays to ask questions.

Why does he have to proft? This PT was designed weeks ago to be an offer to help asicminer holders have somewhere to trade. Not to be a money making scheme.
It was also to help friedcat not worry so much about people who want to trade/exchange their shares, and take some burden off of him to focus on asicminer.
What issue do you have with trying to help and support the community?

As you should know, making an exchange requires a lot of time and effort to do it right.


Actually he is not selling any shares. Users are transferring in their shares and they are selling them. Like INAU did.

From selling the shares!

Sorry.  'You' = DeaDTerra

If 100% gets paid out of the divs, how does DeaDTerra get paid?

This has actually been in the works with friedcat for 2~4 weeks.

What do you mean by how do you get paid?
Dividends are dispersed.

I was wondering how long it'd be before another cropped up. 

How do you get paid long term if you don't hit 5000?

This is awesome.
I think I will ask for my shares to be moved to the bitfunder pass through as soon as the latest purchases (389 shares in total in 2 purchases) have been confirmed by friedcat.

asks going up

I am happy to bring you, the BitFunder/Gamma ASICMINER Pass Through

Shares:
Each 1 share of G.ASICMINER-PT represents 1 share of ASICMINER maintained and verified by either “Friedcat” or any officially designated exchange.

Dividends
Each G.ASICMINER-PT share has the right to 100% of the dividends of 1 ASICMINER share.
The amount of the dividend is defined as amount distributed by “Friedcat” and/or any officially designated exchange.

Dividends will be paid within 48 hours of a payment from ASICMINER.

Voting Rights
Any public votes presented by ASICMINER to all shareholders of ASICMINER may be voted on BitFunder towards a single decision by the G.ASICMINGER-PT shareholder account.

Deposit shares:
Until an officially designated exchange is online, you will need to send “Friedcat” a message and ask him to transfer your shares to the BitFunder G.ASICMINER-PT asset. You will also need to send us a msg stating the number of shares, and the address they are being transferred from.
Once “Friedcat” confirms the transaction we will transfer the G.ASICMINER-PT shares to your BitFunder account.
There is no fee to import shares.

Withdraw shares:
To withdraw shares of ASICMINER you will need at least 250 shares.
There is no fee for this service.
Shares will be transferable to an account on any officially designated exchange of ASICMINER.

Supplemental dividend plan:
“Friedcat” has confirmed that once the passthrough reaches 5,000 shares it will receive a board member seat. The current ASICMINER plan is that each board member will receive a trial ASICMINER mining board. If the passthrough receives this board, 95% of the mining income will be paid out to the shareholders of G.ASICMINER-PT as an additional dividend payment. Additional dividend disbursement will be no more longer than every ASICMINER dividend disbursement. At the discretion of the G.ASICMINER-PT issuer, these extra dividends may be distributed sooner.

Link to asset:
https://bitfunder.com/asset/G.ASICMINER-PT

Link to original AM thread:
https://bitcointalksearch.org/topic/asicminer-entering-the-future-of-asic-mining-by-inventing-it-99497


Instructions how to deposit/withdraw shares
Deposit:
1 Send Friedcat and DeaDTerra a pm with the following info.
Amount of shares:
From account email (the email your have registered with FriedCat):
From Bitcoin address (the Bitcoin address you have registered with Friedcat):
Bitfunder account name:
Please send these shares to [email protected]

2 Wait for Friedcat to confirm the transaction.
3 Wait for DeaDTerra to transfer the shares to your account, if I do not then poke me.

Withdraw:
1 Send DeaDTerra a pm with the following info.
Amount of shares:
To account email (the email your want to registered with FriedCat):
To Bitcoin address (the Bitcoin address you want to registered with Friedcat):
2 Send DeaDTerra the shares you want to withdraw (BF name: DeaDTerra)
3 Wait for Friedcat to complete the transfer.

If you have any questions or comments I am happy answer them
Best Regards
//DeaDTerra