Topic: [PicoStocks] 100TH/s bitcoin mine [100th] - page 71. (Read 470140 times)

The problem is... Well, everything about this, really.

Tytus hasn't assumed any risk; he sold that risk to investors during IPO. People haven't bought in at 0.04, they have bought in at up to 0.3965, and guess what, if they're lucky, they'll get 0.009% profit on accepting the risk that everything goes down the drain and their entire investment is lost.

Here's a deal for you. I'll sell you a lottery ticket, which may be worth nothing, but it may be worth around what you pay for it, perhaps a bit more. You can pay me 3BTC for that lottery ticket. If it is a lucky number, you get around BTC3.1 back, but if it's not lucky, you get nothing.

Just let me know how may you want.

.b

Apparently, we don't know that. Apparently, there was, or became a rule, that if the chips worked, Picostocks would limit the uppoer bounds of the price.


Do you even understand what happened today? The price does _not_ go up anymore because tytus has decreed that 0.4 is the upper bound he will accept anyone selling or buying.


This isn't a share, it is a bond. If these were shares, this would in any regulated market be a criminal offence and the whole project would now be at risk of shutting down or be put under external administration. Tytus would face jail time.

.b

Investors know that you don't control the prices, at least the somewhat serious ones do. Why would they complain to you that others choose to buy or sell at various prices?

"I had this fish soup today, and I'm not really satisfied with it. Fix it for me!"

You should have stayed out of the market, and to the extent that you were to enter it, that is a major, major event, much greater than some random update about power efficiency. If you, knowing more about the operation than anyone else in the world, say "You know, I don't think I'll ever get more from this investment than I can by selling out right now" you're sending a very wrong message to the market. If Mark Zuckerberg sold his FB shares now, he would send the same message, and you wouldn't hear other news for a week from any major news outlet.

In any regulated asset market, there are explicit rules for handling such events. Any insider selling or buying anything is breaking news and directly affects investors' evaluation of a stock. Regardless, your ability and right to control what people pay for shares ended during IPO.

You placed your bets then by selling a certain number of shares to the public. Those shares were effectively investors assuming the risk of failure in your project. At later dates, some of those investors have resold that risk to someone else, who again assumed risk on your behalf, expecting a reward in some fashion, usually proportional to the risk they are taking.

However, you've demonstrated clearly that either 1) you don't know how to operate an asset market or 2) you do not care for those who took risk on your behalf enough to allow them the reward they expected.

What makes this even worse is that you gave your word after the first time this happened that it wouldn't happen again. You broke that promise today. When will you break your next promise to the market? You have promised to give us a share of the profits, and you have promised to not directly manipulate the market. You've broken one promise already.

I'm truly sorry about this, but this kind of behavior from a publicly traded company is completely unacceptable, regardless or whether it is from malice or ignorance.

.b

News about chips:
https://bitcointalksearch.org/topic/m.2476313

They don't blew up

Sell them at the price you believe is right. Unless picostocks is not an open market exchange but dictated by contrived hidden rules?

Anyone that believes in your project doesn't really care about what you sell for, since they'll know that the price will go up by the merit of the project, not by immediate speculative interest.

Let me see if I get this straight? You are basically busting your balls to get everything working as fast as possible for all shareholder's benefit, but aren't allowed to sell your own shares? Now that's irony.

But how do I do this ? If the price is too low current shareholder will complain. If the price is too high I will be accused of pump and dump scheme :-) ... ok, no orders from us for now ... in few hours we will have chip results. Right now we are here: https://bittiraha.fi/content/matka-alkaa ...

The only people that are worried about you selling shares don't really care about 100th. They are only worried about their speculative profit. For them, the less shares are sold the better, so they can have less competition when flipping theirs at a premium. The sky is their limit!

I very welcome your idea to sell your shares at a reasonable price so everyone that wants in, can get in.

I'm not sure you understand the gravity of the situation, tytus. This is a serious breach of investors' trust and a massive blow to the confidence you desperately need. I can't see how investors can invest in stocks on pico anymore and knowing that when you personally feel they have been rewarded enough then you'll take away the rest.

yes yes ... sorry for the order ... but we did not sell anything (!!!) You can not accuse me of market manipulation anytime we post any order.

Ooops ... I was informed that You don't like the volatility limit we placed ... I will take it down immediately ... we work on the chip ... I will try to read the thread in the meantime and catch up

Honestly, i wish tytus dropped a 5000 wall at 0.1. I'd buy as much as I could.

Don't forget that it's the DIVIDENDS that are most appealing about this security.

What would be unfair is if he bought a bunch of shares right before good news came out or sold a bunch of shares right before bad news came out (insider trading). That is not the case here.

Same here, it's tytus shares he can make what he want with it,
he is directly associate with Pico and 100th project and when looking on his HiTech project experience, IMO he know what he is doing.

^^ This

It wasn't furuknap who posted such nonsense, it was his greed.

He probably made 100% ROI in a week or two and he wanted to make 200%.

Tytus how could you?? How could you sell stocks you bought earlier yourself at IPO price?

I agree with this.


Tytus selling his shares IS the free market. It's not like he issued more shares. He could have slowly leaked shares into the market...but even that could be seen as manipulating the market higher.




This is not a typical stock where the value of the stock can be maintained as long as the company is solvent. I hope every one that wants to panic buy understands that overtime the value of the security goes DOWN.

To chime in again:

1) tytus has the right to sell his shares at any price he wants. he's not issuing new shares, he's not underbidding every other stockholder, all he did was put up an ask order at a price that he found appropiate, with reasonable distance above the current market price.

2) i think it's fair in the way that without tytus' ask wall it would just end up being a race to the bottom. 0.4 BTC for 200MH of Bitfury's Chips is already steep enough (you'd get the same for a tenth of the price using one of the group buys, but hush, don't tell anyone). If the stampede sets in, well then even tytus' ask wall won't stop it and the price may move on. But for now let's try to stay civilized and not lead the sheep to the butcher just yet.

3) not trying to manipulate the market here. just trying to talk some sense into people, all this fingerlicking greed isn't going to lead us anywhere.

Yeah, it's not like they are issuing new stock, they are selling their own stock which is fine by me.

I don't find it likely that it would pass 0.4 btc / share since each share is fixed at 200 MH

Counting from the next difficulty (which could be 18925290 with an increase of 20% for every other week after that) each share would generate 0.343 btc in three months if my calculations are correct.

furuknap and others,

I am not really understanding what you are criticizing here, maybe you can shortly enlighten me.

tytus is the issuer of this stock, but also a major shareholder. This is Bitcoin, and you do not really expect that every issuer will ask for permissions to buy or sell his own stock, are you?

I operated a mining bond on GLBSE last year, and to protect investors from fat-finger-trades I always had some bid/ask walls at some distance from the current market price. I never asked anyone for permissions to do so, and I do not get why you expect tytus to limit himself trading his stock? After all free market means free for all, so if you feel the 0.4 ask is too low, why don't you buy in? Claiming he is destroying your alleged profits sounds two-faced to me. Or am I missing something?

It is really sad to see Tytus being guilt manipulated like this. This is no different than any other major shareholder selling at the price they want to.

I'm sorry, I find it just disturbing: some entrepreneurs work and risk their time to build a 100th mine, they offer the public to profit of their work by investing only 0.04 BTC per 200 Mhash/s in their enterprise, the share price has subsequently almost tenfolded on nothing and what do you get as thank you: whining forum members when you sell a tiny bit of the shares you paid for yourselves.