Topic: PicoStocks, bitcoin stock exchange - page 5. (Read 28387 times)

Herpderp strikes again.

inb4 every two bit scammer starts their own "stock exchange" which allows them to manipulate the stock price ala stock generation.

It would be very bad for PicoStocks also if this mine would fail to return profits (after returning investments). We will make sure this will not happen, but of course we can only prove this before the end of this year.

Can anyone actually show 1 "mining company" that has made any profit for "investors" ?

1. the node is <65nm [let's assume 55nm for simplicity]
2. you get power saving if you don't operate the chip for highest hashrate but for lowest power dissipation [much less frequency / voltage than possible]
3. truly custom hashing core with huge emphasis on short connections (possible only in rolled designs) ... avalon and bfl have unrolled design
these 3 things ad up.

I will try to convince BitFury to comment on that. He will probably write a long letter with simulation results when he is ready (in 1 week maybe).

Bitcoin ASICs maybe, but ASICs in general... What is the node size on the latest discrete sound processor...

To really trounce what avalon has and BFL might, you won't just need die shrinks. Those will be BFL's saving grace if they come to pass. You will need serious hardware engineering prowess...


And the more salient point.

Mining investments are depreciating assets. Much like going long on bitcoin, if you want to go long on mining it is best to take delivery and have real equity in your investment.

ASIC development is a fast business :-) We can not wait. We need to restructure the bASIC project within days.
We will setup a new management structure, change the information policy (boost transparency), review the technology status and the financial situation.
Only after proposing and implementing changes we will have an idea about the chances of success (potential future profitability of bASIC / BTCFPGA, LLC) and the timing of the first delivery. According to what I know since yesterday the March deadline is feasible ... but we will never claim that this is the ultimate deadline :-)

Why one week and not, for instance, two months?

Not yet :-) Maybe we can save bASIC somehow ... we still work on that :-) I hope in 1 week we will know how we stand in this project.

So wait, you ordered 1,000 units, paid about a million dollars and now are screwed?

We did not invest in Toms company. We only ordered chips. There is little due diligence You can do in the chip business right now :-) [you can choose between transparency or advanced tech node :-)], but You are right, we could have asked for more facts. The decision was made based on few assumptions:

1. we have also worked on mining chips so we know it is absolutely possible to deliver what Tom promised
2. there is a clear market for the chips, a project like bASIC could easily make $10M in 1-2 years, so there is no reason to believe anybody would choose to take $1M ("and run", which Tom apparently did not do) instead of completing the project using collected funds ($500k-600k, mask costs $400k, the rest is not important and can be easily paid with loans / preorders ... bASIC has desided to offer only boards so the design is simple ... the simplest on the market)
3. Tom had a proved track record of delivering mining hardware , he only needed to order ASIC chips
=> the chances of success are quite large
We don't actually know what happened. If this is as described: Tom could not stand another delay; then this is just a management issue that needs to be solved :-)

Our risks were also not that big because we did not pay the whole amount, just a prepayment, so the current potential losses are of course not $1M. If we get more info about the current status of bASIC development maybe we can save the project.

Oh my.  Someone didn't do their due diligence.

There may be problems to get any response from Tom now :-) https://www.btcfpga.com/forum/index.php?topic=954.0.
We have frozen this IPO* until the situation is resolved. In the meantime we will try to float less risky ventures :-)

Why don't You ask Tom about it :-)

Except Tom wasn't even going to sell 1,000 bASICs to begin with, and his original offering is all bought out, by people who are not you. So no, this isn't an example that serves your intention, this is an example that goes exactly the other way.

Clearly you have no business here. Please start here like everyone else.

Here it is ... a large mine: http://picostocks.com/stocks/view/17 ... probably the largest mine in few months, but not any more the largest few months later :-)

I'm in no rush, you can have two weeks or two months as far as I'm concerned.

I guess in crisis You would run for the most liquid asset. This would be the fiat money itself. Also the forex (btc exchange) markets will always remain the most liquid bitcoin based markets facilitating fast departure from BTC.
Nevertheless a large number of listed fiat assets will add stability to the BTC exchange rates. ... until their valuation exceeds the number of bitcoins in circulation and then a default of a large listed fiat asset would provide turbulence for btc exchange rates :-) this is of course all theory.

An equity whose revenues are in fiat can act as a hedge though, so their values go up as the bitcoin exchange rate goes down, possibly at an even faster rate (especially if it has earnings).  At least in theory, ... there's been a fourteen-month bitcoin rally going on so there haven't been many opportunities to see if this is true in practice as well.

Please give us 2 days. We will launch another serious asset on Friday the latest. The asset is a bitcoin mine but I hope it will be large enough to attract interest. After this we will start floating "real world" companies. I have to admit this is a challenge because investments have to compete with the BTC deflation and the expected dividend threshold is much higher here than anywhere else. It is pointless to try to float a not convincing venture here but it can be still interesting from the tax point of view.