[BTC-TC] Virtual Community Exchange [CLOSED] - page 14.

stefffe

full member

Activity: 131

Merit: 100

Quote from: burnside on October 01, 2013, 04:08:16 AM

Quote from: stefffe on October 01, 2013, 03:56:46 AM

Quote from: burnside on October 01, 2013, 03:24:41 AM

Quote from: stefffe on October 01, 2013, 03:22:58 AM

Quote from: Xqisit on October 01, 2013, 03:13:11 AM

Have I missed something on how to transfer my asicminer PT shares? I received emails about tat.asicminer and activemining, but didn't receive any details on how to transfer my asciminer PT shares.

Same here, I am waiting on details about what to do with my AM pt shares... I guess one could sell shares and buy same amount on another site but there is always a loss from fees etc

Guessing you haven't checked the ASICMINER-PT thread? Wink

I'll post a notice on the asset tonight, that should help.

Cheers.

I am checking the am thread everyday, but I dont know if there is any help or a guide about what do to next with our shares? :O

I think the thread you want to watch is this one: https://bitcointalksearch.org/topic/btctcasicminer-pt-public-trading-of-asicminer-shares-148350

Also, I have posted a news item here: https://btct.co/security/ASICMINER-PT

Hope that helps.

Yeah I was watching the other, main thread about Asicminer! Thanks

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: stefffe on October 01, 2013, 03:56:46 AM

Quote from: burnside on October 01, 2013, 03:24:41 AM

Quote from: stefffe on October 01, 2013, 03:22:58 AM

Quote from: Xqisit on October 01, 2013, 03:13:11 AM

Have I missed something on how to transfer my asicminer PT shares? I received emails about tat.asicminer and activemining, but didn't receive any details on how to transfer my asciminer PT shares.

Same here, I am waiting on details about what to do with my AM pt shares... I guess one could sell shares and buy same amount on another site but there is always a loss from fees etc

Guessing you haven't checked the ASICMINER-PT thread? Wink

I'll post a notice on the asset tonight, that should help.

Cheers.

I am checking the am thread everyday, but I dont know if there is any help or a guide about what do to next with our shares? :O

I think the thread you want to watch is this one: https://bitcointalksearch.org/topic/btctcasicminer-pt-public-trading-of-asicminer-shares-148350

Also, I have posted a news item here: https://btct.co/security/ASICMINER-PT

Hope that helps.

Rannasha

hero member

Activity: 728

Merit: 500

Quote from: stefffe on October 01, 2013, 03:56:46 AM

Quote from: burnside on October 01, 2013, 03:24:41 AM

Quote from: stefffe on October 01, 2013, 03:22:58 AM

Quote from: Xqisit on October 01, 2013, 03:13:11 AM

Have I missed something on how to transfer my asicminer PT shares? I received emails about tat.asicminer and activemining, but didn't receive any details on how to transfer my asciminer PT shares.

Same here, I am waiting on details about what to do with my AM pt shares... I guess one could sell shares and buy same amount on another site but there is always a loss from fees etc

Guessing you haven't checked the ASICMINER-PT thread? Wink

I'll post a notice on the asset tonight, that should help.

Cheers.

I am checking the am thread everyday, but I dont know if there is any help or a guide about what do to next with our shares? :O

https://bitcointalksearch.org/topic/m.3269476

stefffe

full member

Activity: 131

Merit: 100

Quote from: burnside on October 01, 2013, 03:24:41 AM

Quote from: stefffe on October 01, 2013, 03:22:58 AM

Quote from: Xqisit on October 01, 2013, 03:13:11 AM

Have I missed something on how to transfer my asicminer PT shares? I received emails about tat.asicminer and activemining, but didn't receive any details on how to transfer my asciminer PT shares.

Same here, I am waiting on details about what to do with my AM pt shares... I guess one could sell shares and buy same amount on another site but there is always a loss from fees etc

Guessing you haven't checked the ASICMINER-PT thread? Wink

I'll post a notice on the asset tonight, that should help.

Cheers.

I am checking the am thread everyday, but I dont know if there is any help or a guide about what do to next with our shares? :O

Xqisit

member

Activity: 98

Merit: 10

Aha, OK. Thanks

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: stefffe on October 01, 2013, 03:22:58 AM

Quote from: Xqisit on October 01, 2013, 03:13:11 AM

Have I missed something on how to transfer my asicminer PT shares? I received emails about tat.asicminer and activemining, but didn't receive any details on how to transfer my asciminer PT shares.

Same here, I am waiting on details about what to do with my AM pt shares... I guess one could sell shares and buy same amount on another site but there is always a loss from fees etc

Guessing you haven't checked the ASICMINER-PT thread? Wink

I'll post a notice on the asset tonight, that should help.

Cheers.

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: Xqisit on October 01, 2013, 03:13:11 AM

Have I missed something on how to transfer my asicminer PT shares? I received emails about tat.asicminer and activemining, but didn't receive any details on how to transfer my asciminer PT shares.

There's nothing to transfer. They'll revert to direct shares around Oct 10.

Please make sure you plug in your btc address here: https://btct.co/account?tab=tab2

Cheers.

stefffe

full member

Activity: 131

Merit: 100

Quote from: Xqisit on October 01, 2013, 03:13:11 AM

Have I missed something on how to transfer my asicminer PT shares? I received emails about tat.asicminer and activemining, but didn't receive any details on how to transfer my asciminer PT shares.

Same here, I am waiting on details about what to do with my AM pt shares... I guess one could sell shares and buy same amount on another site but there is always a loss from fees etc

Xqisit

member

Activity: 98

Merit: 10

Have I missed something on how to transfer my asicminer PT shares? I received emails about tat.asicminer and activemining, but didn't receive any details on how to transfer my asciminer PT shares.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Hi Burnside, thx for winding things down in a controlled manner.

Query: would you ~~advise~~ ~~recommend~~ suggest that ukyo list or not list LabCoin?

cheers,

-iB

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: BitThink on September 30, 2013, 08:35:37 PM

I got "Access temporarily denied." when I try to login. Why?

https://bitcointalk.org/index.php?topic=125629.msg2848199;topicseen#msg2848199

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: supert on September 30, 2013, 05:06:01 PM

How is the backlog of manual asicminer transfers going?

I've got all the requests made on the 23rd processed.

Everything since then is going to have to wait until after this weeks divs I think. (No worries, I will manually process the divs like I did last week.)

In the meantime, please don't initiate any more transfers unless absolutely necessary. We're going to be doing them as a batch on the 10th anyway.

Cheers.

BitThink

legendary

Activity: 882

Merit: 1000

I got "Access temporarily denied." when I try to login. Why?

supert

full member

Activity: 160

Merit: 100

How is the backlog of manual asicminer transfers going?

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: Peter Lambert on September 30, 2013, 07:52:40 AM

Quote from: lg15x on September 29, 2013, 10:41:07 PM

Burnside, I don't think it's a good idea to give discount for shareholders because lots of them may not involved in purchasing the code. But I think you can distribute the sold money to all shareholders proportionally. This is more fair and reasonable.

It should work out the same either way, one way the buyer pays a larger amount but gets some of it back, the other way the buyer pays less but does not get any of the distribution, which goes to the other shareholders.

Yup, with the primary difference being the dilution of my own shares. In effect, I would grant a current shareholder some portion of my shares prior to final distribution if they in fact win the bid.

Peter Lambert

hero member

Activity: 756

Merit: 500

It's all fun and games until somebody loses an eye

Quote from: lg15x on September 29, 2013, 10:41:07 PM

Burnside, I don't think it's a good idea to give discount for shareholders because lots of them may not involved in purchasing the code. But I think you can distribute the sold money to all shareholders proportionally. This is more fair and reasonable.

It should work out the same either way, one way the buyer pays a larger amount but gets some of it back, the other way the buyer pays less but does not get any of the distribution, which goes to the other shareholders.

lg15x

hero member

Activity: 728

Merit: 500

Quote from: burnside on September 29, 2013, 03:01:43 AM

Quote from: twentyseventy on September 28, 2013, 03:33:24 PM

Quote from: woodrake on September 28, 2013, 03:05:04 PM

Dear Investors and Security Issuers,

As some of you may be aware a collective of security issuers and interested parties have banded together to attempt to purchase Burnside's code so that we can continue to operate the exchange, although perhaps under a different name and likely with some restrictions. If you are a security issuer please join the conversation on the recovery board (in the litecoin forum).

I am urging all security issuers not to make rushed decisions to move to a new exchange right now! Unfortunately some of you have gone to CryptoStocks.com already, which from what I can see is technically inferior and has near-zero liquidity (there are also some oddities like why VirCurEx has not paid dividends there for ages).

At CipherMine we are developing a simple tool to allow an issuer to import the .csv from a shareholder report and use that to distribute a dividend payment manually (ie. you just enter the amount and it sends that much to the shareholders). We intend to give this away to all of you for free.

BTC Trading Co does not shut down entirely for a month yet. You will be able to use the mechanisms there to distribute dividends in the mean time, and then you will still be able to with our tool or something similar.

It is the hope of our collective that we can have something operational within the next couple of months, so hopefully there would only be a short period of time where your securities were illiquid (barring manual trades of course).

To Shareholders, I cannot speak for all but most of us issuers intend to do the Right Thing and are making efforts, including committing significant personal resources, to try to look after you all.

In the mean time, please everyone hang in there and don't make panicked decisions! We will keep you posted as to developments.

Kate.

Burnside, can you comment on these developments?

I'm pretty sure that we can sell assets as long as they are used in a legal manner and we do not sell them as an ongoing concern. This is why no sale can complete prior to shutdown, and the domains, database content, and my involvement cannot be included.

My thoughts are that we should have a silent auction for the site code, with a proportional portion of the purchase price able to be paid in LTC-GLOBAL revenue shares. For example, if you own 10% of the shares, you would get a 10% discount. I likely would apply a multiplier though, such that if you owned 10% of the shares, you'd get a discount equal to 3x that percentage, or something similar, thus diluting my own shares to the benefit of the other revenue shareholders.

I am aware that some of the existing LTC-GLOBAL revenue shareholders would prefer first right of refusal, but I do not believe that such an arrangement would be fair for other revenue shareholders that are not part of the deal because an alternate offer could come in for 2x more, and revenue shareholders that cannot be involved in the deal going forward (US residents) would not receive a fair value. It is my opinion that giving a discount/credit toward the purchase price is the best compromise available.

Given the limitations at hand, I am open to alternate suggestions.

Cheers.

Burnside, I don't think it's a good idea to give discount for shareholders because lots of them may not involved in purchasing the code. But I think you can distribute the sold money to all shareholders proportionally. This is more fair and reasonable.

Carnth

hero member

Activity: 634

Merit: 500

Quote from: arousedrhino on September 29, 2013, 07:33:26 PM

Quote from: ?? on ??

Quote from: dexX7 on September 29, 2013, 02:11:19 PM

Users sent back two shares to the issuer account "labcoin2", one was from me after the first outstanding share disappeared. Sorry for the confussion.

And the second one (actually the first) was mine. I wanted to dump my last share directly to them. I lost some 0.0006BTC by doing it

. Sorry, it was dumb idea.

haha so your saying I can transfer my 2 labcoin shares to labcoin2 and they will be subtracted from he shares issued?

That's the way it works. Any share sent back to the "issuer's account" is no longer counted as "outstanding."

arousedrhino

sr. member

Activity: 347

Merit: 250

Quote from: ?? on ??

Quote from: dexX7 on September 29, 2013, 02:11:19 PM

Users sent back two shares to the issuer account "labcoin2", one was from me after the first outstanding share disappeared. Sorry for the confussion.

And the second one (actually the first) was mine. I wanted to dump my last share directly to them. I lost some 0.0006BTC by doing it

. Sorry, it was dumb idea.

haha so your saying I can transfer my 2 labcoin shares to labcoin2 and they will be subtracted from he shares issued?

Esh

newbie

Activity: 13

Merit: 0

Quote from: burnside on September 29, 2013, 03:01:43 AM

I'm pretty sure that we can sell assets as long as they are used in a legal manner and we do not sell them as an ongoing concern. This is why no sale can complete prior to shutdown, and the domains, database content, and my involvement cannot be included.

My thoughts are that we should have a silent auction for the site code, with a proportional portion of the purchase price able to be paid in LTC-GLOBAL revenue shares. For example, if you own 10% of the shares, you would get a 10% discount. I likely would apply a multiplier though, such that if you owned 10% of the shares, you'd get a discount equal to 3x that percentage, or something similar, thus diluting my own shares to the benefit of the other revenue shareholders.

I am aware that some of the existing LTC-GLOBAL revenue shareholders would prefer first right of refusal, but I do not believe that such an arrangement would be fair for other revenue shareholders that are not part of the deal because an alternate offer could come in for 2x more, and revenue shareholders that cannot be involved in the deal going forward (US residents) would not receive a fair value. It is my opinion that giving a discount/credit toward the purchase price is the best compromise available.

Given the limitations at hand, I am open to alternate suggestions.

Cheers.

Very glad to hear about this Burnside. The exchange continuing forward outside of American jurisdiction with the code base intact strikes me as the best possible outcome at this point.

Am I right in assuming that the existing entity 'LTC-GLOBAL' will wind down after the sale? Does this mean that LTC-GLOBAL (and BT-TRADING-PT) shareholders might look forward to a final payout of some kind after the site code is sold or auctioned? Can you say anything yet about what you anticipate the hierarchy of creditors will look like in that event, given that LTC-GLOBAL still has significant liabilities on its books (in the form of outstanding legal bills and the balance of the loan you made to LTC-GLOBAL to pay the initial legal retainer)?

Topic: [BTC-TC] Virtual Community Exchange [CLOSED] - page 14. (Read 316626 times)