Is that 10BTC fee from Havelock current? I know that there are other brokers that have much lower fees, including at least one that does it for free if the order is large enough.
2 weeks is probably too long to leave people hanging for the dividends, especially for people who intend to re-invest.
Don't get me wrong, I still think your exchange is great in general, but these terms seem like they are leaning on investors a bit too much. I bet the first passthru on BitFunder will be more favorable, assuming that happens.
Topic: [BTCTC][[ASICMINER-PT]] - Public trading of ASICMINER shares - page 28. (Read 74585 times)
Why the 2-week delay on dividend payout?
So that I can go on vacation places where cell phones cannot.
Also the isn't the .5BTC fee to import shares excessive if the PT keeps 5% of divs already?
Havelock's fee is 10 BTC on S.DICE, and that's one automated exchange to another. This is a manual process. I'll definitely consider reducing it when it becomes easier to execute.
I think they learned the lesson of listing on 3rd party exchanges pretty hard when they trusted GLBSE.
I was at a party one day, and this older guy was telling about his car misadventure. He got in the car one day, tried to start it. Everything seemed fine except the car wouldn't move. The engine worked, the lights, everything he said, but the car wouldn't move. He kept revving it until smoke came out of the engine. Eventually he had to have it towed, he said. At the garage they discovered that he had the parking brake on. He revved that engine to the point of soldering the transmission.
He closed the story by pointing out that he had learned his lesson right then and there: "Never use the parking brake ever again", he said.
Y'know?
I'll add to this that on BTC-TC the shareholder lists are open to the issuers. The issuers get lists twice daily via email, and have access to a json api endpoint to download them at any time. It's the only safe way to roll.
If BTC-TC shuts down, I'd give it less than a week before Ukto has everyone up and running on Bitfunder. Conversely, the issuers are not locked into BTC-TC. they stay because they like the platform, not because they're handcuffed.Cheers.
I think they learned the lesson of listing on 3rd party exchanges pretty hard when they trusted GLBSE.
I was at a party one day, and this older guy was telling about his car misadventure. He got in the car one day, tried to start it. Everything seemed fine except the car wouldn't move. The engine worked, the lights, everything he said, but the car wouldn't move. He kept revving it until smoke came out of the engine. Eventually he had to have it towed, he said. At the garage they discovered that he had the parking brake on. He revved that engine to the point of soldering the transmission.
He closed the story by pointing out that he had learned his lesson right then and there: "Never use the parking brake ever again", he said.
Y'know?
Great asset. But why is there no asset news announcement. I thought they were automatic. Or ist that only on LTC-Global.
Quote
Awaiting Approval (1)
Is that a bug?Oh yeah there's still SILVER.
Yup, still waiting for that one. The LTC-GLOBAL mods need to take another look, because some of the comments such as identity escrow and personal liability no longer apply, and I should have YES votes from (at least) those two moderators now. The other comments need to be changed as well since we've been operating on another exchange for a couple of months already, and DeaDTerra is providing oversight and has already audited our books.
Anyways, although I'd like to get approved, I wouldn't trade the security for at least another couple of months unless I can get approval from our "comptroller" -- he's the one that approves or disapproves whether or not we can trade on any other exchange than BitFunder.
This is a lovely exercise in free markets. Asicminer dropped the ball on handling their shares? Ah well, the market will route around it. Will it be messy? Sure. Will it blow up? Maybe. Whose fault is it going to be if it does? Bitfountain's.
Why the 2-week delay on dividend payout?
Also the isn't the .5BTC fee to import shares excessive if the PT keeps 5% of divs already?
Also the isn't the .5BTC fee to import shares excessive if the PT keeps 5% of divs already?
I thought of doing it first but I got the information that a board member was making their own PT 
There will likely be several that crop up after this. Friedcat has his hands full running the business and passthru's like this will take a bunch of the pressure off the in-forum trades until he gets his own exchange going.
Couple of quick updates. I added the following to the Asset Termination section:
I also had some good questions come in via the private messages in the voting system:
- The starting price will be around 0.65 BTC. I still need to do some more math, but this is roughly what it will need to be to satisfy my purchase contract (premium + strike), asset creation fee, and transaction fee costs.
- Yes, ANY ASICMINER shareholder will be able to import their shares into BTCT via three-step process:
1)Publicly notify Friedcat of the transfer to me, wait for Friedcat to acknowledge. (edit: you can PM him, cc "burnside")
2) Pay the 0.5 BTC fee per the ASICMINER-PT contract. (edit: free now)
3) I will transfer you shares of ASICMINER-PT on BTCT 1 to 1 for your ASICMINER shares.
Cheers.
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Should the issuer of ASICMINER choose to list ASICMINER on the BTC-TC exchange this asset will be terminated and the ASICMINER-PT shares will be automatically redeemed on the exchange for ASICMINER shares.
I also had some good questions come in via the private messages in the voting system:
- The starting price will be around 0.65 BTC. I still need to do some more math, but this is roughly what it will need to be to satisfy my purchase contract (premium + strike), asset creation fee, and transaction fee costs.
- Yes, ANY ASICMINER shareholder will be able to import their shares into BTCT via three-step process:
1)
3) I will transfer you shares of ASICMINER-PT on BTCT 1 to 1 for your ASICMINER shares.
Cheers.
Void your neutrality by running your own asset..
You have a very good point. However;
- I've been running LTC-MINING since the beginning. Rolled out the exchange to be able to run it.
- I've tried to get several other ASICMINER shareholders to operate this asset with no luck.
So... it had to be done.
If you don't trust me, that is fine. I'll be as transparent as I reasonably can, but I do not expect everyone to trust me.
Cheers.
This is an excellent idea. I didn't think anyone would try doing this.
I thought of doing it first but I got the information that a board member was making their own PT
Void your neutrality by running your own asset..
You have a very good point. However;
- I've been running LTC-MINING since the beginning. Rolled out the exchange to be able to run it.
- I've tried to get several other ASICMINER shareholders to operate this asset with no luck.
So... it had to be done.
If you don't trust me, that is fine. I'll be as transparent as I reasonably can, but I do not expect everyone to trust me.
Cheers.
This is an excellent idea. I didn't think anyone would try doing this.
Great asset. But why is there no asset news announcement. I thought they are automatic. Or ist that only on LTC-Global.
Quote
Awaiting Approval (1)
Is that a bug?Yes, that's definitely a bug. hmm. Will look into it.
Edit/Add, ok, it turned out to be a fairly minor one. The Awaiting Approval tab counter is programmed to ignore any assets I create. (up until now, they've all been test assets...)
Great asset. But why is there no asset news announcement. I thought they were automatic. Or ist that only on LTC-Global.
Quote
Awaiting Approval (1)
Is that a bug?Oh yeah there's still SILVER.
Great asset. But why is there no asset news announcement. I thought they are automatic. Or ist that only on LTC-Global.
Quote
Awaiting Approval (1)
Is that a bug? 
I'm glad you're adding this. I've been wanting to get some ASICMINER shares, but the various individual threads about buying/selling shares all seem a bit haphazard. I'll be jumping on this for sure.
Question:
"The issuer reserves the right to close down the asset with a 30 day warning. Should this right be exercised, every reasonable attempt will be made to transfer the assets into the direct control of the ASICMINER-PT shareholders using the methods described in the Transfer section above"
Would you still charge the 0.5 BTC fee?
"The issuer reserves the right to close down the asset with a 30 day warning. Should this right be exercised, every reasonable attempt will be made to transfer the assets into the direct control of the ASICMINER-PT shareholders using the methods described in the Transfer section above"
Would you still charge the 0.5 BTC fee?
Good question. Definitely not. I'll update the contract to reflect that.
Question:
"The issuer reserves the right to close down the asset with a 30 day warning. Should this right be exercised, every reasonable attempt will be made to transfer the assets into the direct control of the ASICMINER-PT shareholders using the methods described in the Transfer section above"
Would you still charge the 0.5 BTC fee?
"The issuer reserves the right to close down the asset with a 30 day warning. Should this right be exercised, every reasonable attempt will be made to transfer the assets into the direct control of the ASICMINER-PT shareholders using the methods described in the Transfer section above"
Would you still charge the 0.5 BTC fee?
Actually, I don't really see any problem with you running this PT since it follows the normal approval process (I thought you automatically approved it) so nevermind 
Through, are you going to pay out the asset registration fee to shareholders?
Through, are you going to pay out the asset registration fee to shareholders?
Absolutely. I listed it using the same page everyone else uses. The 5 BTC is in the exchange's wallet now.
Void your neutrality by running your own asset..
You have a very good point. However;
- I've been running LTC-MINING since the beginning. Rolled out the exchange to be able to run it.
- I've tried to get several other ASICMINER shareholders to operate this asset with no luck.
So... it had to be done.
If you don't trust me, that is fine. I'll be as transparent as I reasonably can, but I do not expect everyone to trust me.
Cheers.
Actually, I don't really see any problem with you running this PT since it follows the normal approval process (I thought you automatically approved it) so nevermind
Through, are you going to pay out the asset registration fee to shareholders?
Void your neutrality by running your own asset..
You have a very good point. However;
- I've been running LTC-MINING since the beginning. Rolled out the exchange to be able to run it.
- I've tried to get several other ASICMINER shareholders to operate this asset with no luck.
So... it had to be done.
If you don't trust me, that is fine. I'll be as transparent as I reasonably can, but I do not expect everyone to trust me.
Cheers.
Sounds cool. IPO price?
Oh, and there's a sane 0.5 BTC fee instead of Havelock's with their S.DICE PT.
Oh, and there's a sane 0.5 BTC fee instead of Havelock's with their S.DICE PT.
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