Topic: BTCGarden Overview & Speculation Thread - page 3. (Read 5079 times)
Where is the overview???
Hi,
Im tempted to invest - but not pushing the button as yet due to the massive valuation. Can anyone justify it to me?
thanks
Im tempted to invest - but not pushing the button as yet due to the massive valuation. Can anyone justify it to me?
thanks
Due to the troubles from both english and functions of the platform, many chinese BTCers and members of btcman.com are still learning how to use btct.co at the moment. 
I would like to emphasize the usage of the IPO funds again:
1. Second batch with a huge amount of wafers.
2. Deployment costs for at least several hundreds TH.
3. 2ed-gen chips, 80% odds to 40nm and 20% to 55nm.(BTW: again, 28nm is unrealistic due to the capacity of Fab and the cost )
4. We run this project as a long-term biz, so we need to reserve a part of funds with RMB (CNY,chinese legal money). We need to hold an amount of funds in order to meet probable demands or possible risks.
5. At least currently, our stock is probably not that good for pure speculators.
I would like to emphasize the usage of the IPO funds again:
1. Second batch with a huge amount of wafers.
2. Deployment costs for at least several hundreds TH.
3. 2ed-gen chips, 80% odds to 40nm and 20% to 55nm.(BTW: again, 28nm is unrealistic due to the capacity of Fab and the cost )
4. We run this project as a long-term biz, so we need to reserve a part of funds with RMB (CNY,chinese legal money). We need to hold an amount of funds in order to meet probable demands or possible risks.
5. At least currently, our stock is probably not that good for pure speculators.
Hi,
Im tempted to invest - but not pushing the button as yet due to the massive valuation. Can anyone justify it to me?
thanks
Im tempted to invest - but not pushing the button as yet due to the massive valuation. Can anyone justify it to me?
thanks
I like such a thread~~~
I think there is one more protection that shareholders should be pushing for. (Or should have pushed for before the IPO)
That is - that all newly issued shares should be in exchange for more capital only... ie not as 'rewards' to staff/management.
There is nothing I can see in the statements above that would stop them issuing 'free' (or cheap) shares to insiders at the same time as they issue more for capital.
I have no problem with the share dilution if it's done purely to grow the company and the shares are issued at a fair market price.
thankyou for ur advices.
Some of our staffs did buyin a lot of public shares from BTCT personally (with same treatments as others -- big confidence on this project pushed them to do so). It is not big but since your advice really make sense, We ll think about adding some terms relating to this later.
Quote
I think there is one more protection that shareholders should be pushing for. (Or should have pushed for before the IPO)
That is - that all newly issued shares should be in exchange for more capital only... ie not as 'rewards' to staff/management.
There is nothing I can see in the statements above that would stop them issuing 'free' (or cheap) shares to insiders at the same time as they issue more for capital.
I have no problem with the share dilution if it's done purely to grow the company and the shares are issued at a fair market price.
thankyou for ur advices.
Some of our staffs did buyin a lot of public shares from BTCT personally (with same treatments as others -- big confidence on this project pushed them to do so). It is not big but since your advice really make sense, We ll think about adding some terms relating to this later.
To protect the interest of early investors, share dilution CANNOT occur until the all three following conditions have been fulfilled:
1. Total cumulative dividends paid/share equaling 0.032BTC/share; i.e., twice the IPO priced paid in dividends
2. Share Dilution will not occur until after August 1, 2014 if the situation would arise
3. Major developments/events that would lead to/maintain BTCGarden's targeted network portion.
That said, there would be an announcement before any further shares are sold, with existing shareholders have priority to purchase more. From what aiwill said, it's to be used as a last resort only.
1. Total cumulative dividends paid/share equaling 0.032BTC/share; i.e., twice the IPO priced paid in dividends
2. Share Dilution will not occur until after August 1, 2014 if the situation would arise
3. Major developments/events that would lead to/maintain BTCGarden's targeted network portion.
That said, there would be an announcement before any further shares are sold, with existing shareholders have priority to purchase more. From what aiwill said, it's to be used as a last resort only.
I think there is one more protection that shareholders should be pushing for. (Or should have pushed for before the IPO)
That is - that all newly issued shares should be in exchange for more capital only... ie not as 'rewards' to staff/management.
There is nothing I can see in the statements above that would stop them issuing 'free' (or cheap) shares to insiders at the same time as they issue more for capital.
I have no problem with the share dilution if it's done purely to grow the company and the shares are issued at a fair market price.
To protect the interest of early investors, share dilution CANNOT occur until the all three following conditions have been fulfilled:
1. Total cumulative dividends paid/share equaling 0.032BTC/share; i.e., twice the IPO priced paid in dividends
2. Share Dilution will not occur until after August 1, 2014 if the situation would arise
3. Major developments/events that would lead to/maintain BTCGarden's targeted network portion.
That said, there would be an announcement before any further shares are sold, with existing shareholders have priority to purchase more. From what aiwill said, it's to be used as a last resort only.
1. Total cumulative dividends paid/share equaling 0.032BTC/share; i.e., twice the IPO priced paid in dividends
2. Share Dilution will not occur until after August 1, 2014 if the situation would arise
3. Major developments/events that would lead to/maintain BTCGarden's targeted network portion.
That said, there would be an announcement before any further shares are sold, with existing shareholders have priority to purchase more. From what aiwill said, it's to be used as a last resort only.
Do not say Share Dilution。Can they sell the first 200w shares？It is still a problem。
To protect the interest of early investors, share dilution CANNOT occur until the all three following conditions have been fulfilled:
1. Total cumulative dividends paid/share equaling 0.032BTC/share; i.e., twice the IPO priced paid in dividends
2. Share Dilution will not occur until after August 1, 2014 if the situation would arise
3. Major developments/events that would lead to/maintain BTCGarden's targeted network portion.
That said, there would be an announcement before any further shares are sold, with existing shareholders have priority to purchase more. From what aiwill said, it's to be used as a last resort only.
1. Total cumulative dividends paid/share equaling 0.032BTC/share; i.e., twice the IPO priced paid in dividends
2. Share Dilution will not occur until after August 1, 2014 if the situation would arise
3. Major developments/events that would lead to/maintain BTCGarden's targeted network portion.
That said, there would be an announcement before any further shares are sold, with existing shareholders have priority to purchase more. From what aiwill said, it's to be used as a last resort only.
I previously saw the 'share dilution' thing as a strong disincentive to invest - but with the promise not to dilute before 0.032BTC paid in dividends each share, and the promise to limit the rate to 1Million per year (10%) - I now think it's a smart move to make sure they can raise capital for future generation chips as necessary.
Clearly, with the sheer size of this IPO, there's not as much opportunity for speculators to pump and make quick gains - but the large amount of capital puts the company in a strong position to be a serious player - so overall I think this will probably develop into a solid Bitcoin stock with a fair prospect for respectable profit.
Clearly, with the sheer size of this IPO, there's not as much opportunity for speculators to pump and make quick gains - but the large amount of capital puts the company in a strong position to be a serious player - so overall I think this will probably develop into a solid Bitcoin stock with a fair prospect for respectable profit.
Chinese stocks do you know? Want to know the purchase BTCGarden
Key Steps in the Coming Months (via IPO)
1) Deploy 200 TH/s in at Shenzhen/Beijing/Xian/Suzhou simultaneously once the chips are finished.
2) Receive the 300 TH/s while finishing the deployment of the initial 200 TH/s
3) Consider outsourcing sales of mining hardware
4) Finish LAYOUT, start TAPEOUT of the 2nd-gen chips within 2013
1) Deploy 200 TH/s in at Shenzhen/Beijing/Xian/Suzhou simultaneously once the chips are finished.
2) Receive the 300 TH/s while finishing the deployment of the initial 200 TH/s
3) Consider outsourcing sales of mining hardware
4) Finish LAYOUT, start TAPEOUT of the 2nd-gen chips within 2013
plz double me up again 
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