Hi P4man,
Asking direct questions will get you direct answers. As for purchasing equipment that will devalue gigamining's bond value, this is the situation I am faced with.
There are two options I see:
1. Don't do anything when ASIC comes out and watch all of my efforts with gigamining get eaten up by others with ASIC.
2. Offer something to gigaminers that allows for the opportunity to jump on an otherwise very costly ASIC investment.
I would rather do option #2. What the exact details of this are depends on a couple factors that we will not know until a later date. If you think I'm going to turn my back on the bitcoin community or gigaminers and walk away, you best think again. I am here to do what is right, not what is convenient.
Best regards,
gigavps
You run a business, you should do what makes financial sense for your business. You have no obligations to your bondholders other than whats in the contract. That asics are about to render those bonds almost worthless is not your "fault" or responsibility, and frankly there isnt much you can do about it even if you wanted. Buying asics yourself or not doesnt change a thing, because someone else will anyway.
What I was responding to, was just your enthusiasm about getting asics later, it sounded as if gigaminers were supposed to be happy about that; shareholders might be (but IMO shouldnt), but any rational bond holder will feel the exact opposite.
As for what to do; heh, thats obviously your call. Ive posted a gazillion posts already why I think buying asics is something in between russian roulette and certain suicide, that was my position when BFL announced minirigs and I feared and predicted this would happen; but you already have a significant investment in BFL FPGAs, that does change things. The BFL trade up program will put FPGA owners like you in the uncomfortable position of having to chose between doubling their bet (and a bet that I think is more than just risky, unless you get some special treatment and/or guarantees from BFL) or eating the losses on those mini rigs.
If I where you, Id do neither, and try to sell all my BFL gear to someone willing to play russian roulette with those asics; but hey, thats just me. If you decide the other way, I just hope I will be able to short bonds by then
Speaking of which, GeoRW , how exactly did you short those bonds?