Topic: [TAT.VIRTUALMINE] - page 24. (Read 39878 times)
So a BFL 5Gh will cost about 54.80 per Gh but your's will cost 7? How is that even possible, what is your hashing power backed by?
IPO will go live in about an hour, early bidding is open: https://bitfunder.com/asset/TAT.VIRTUALMINE
What? Not at 12pm EST?12pm EST is still the plan
about 50m from now. 
IPO will go live in about an hour, early bidding is open: https://bitfunder.com/asset/TAT.VIRTUALMINE
What? Not at 12pm EST?Regarding the IPO, can we pre-purchase x shares @ the IPO price? Or will this open and then we will get filled at whatever price it opens at?
No prepurchase. You can already place a bid and it will get matched normally against the [email protected] IPO order.
IPO will go live in about an hour, early bidding is open: https://bitfunder.com/asset/TAT.VIRTUALMINE
Below is a chart showing a comparison of the cost per 1MH/s for each mining asset currently on the market. I apologize if some details are a pinch out of date, it's hard to keep up with changing prices, etc! Feel free to check my math and let me know if I missed anything.
Below is a chart showing a comparison of the cost per 1MH/s for each mining asset currently on the market. I apologize if some details are a pinch out of date, it's hard to keep up with changing prices, etc! Feel free to check my math and let me know if I missed anything.
Regarding the IPO, can we pre-purchase x shares @ the IPO price? Or will this open and then we will get filled at whatever price it opens at?
...and for fuck sake people, bonds do not pay dividends!
Bonds pay interest to the bondholders. Why? Because bond is a DEBT aka loan.
Get this shit right and you start making sense. This is not that hard to master
Bonds pay interest to the bondholders. Why? Because bond is a DEBT aka loan.
Get this shit right and you start making sense. This is not that hard to master
I understand your points about wording things specifically as bonds and debt. The only reason I use both "share" and "bond" is because each one does represent a dynamic total of the hashing I am responsible for, which must ultimately be backed by its share another asset. Each bond represents a share of that total. The reason for calling them dividends is also a semantic issue because the payouts are strictly related to mining rewards from the 1mh/s being offered.
I know this is semantically frustrating, but I do believe the general understanding of the way this works is quite clear nonetheless. Everyone is getting what they are paying for, and functionally this asset works no worse than any other mining asset that distributes its hashing rewards.
Since difficulty can change during a day, which of the 2 difficulties (higher/lower) will be used for calculation or do you calculate the actual proper amount based on the time stamp of the block where difficulty changes?
The dividend section above specifies exactly what difficulty will be used. It will use the difficulty at 12PM EST they day before the dividend is issued. The only way this could ever be an issue is if difficulty changed at exactly 12PM EST one day. Which is extremely unlikely.
Also I'm not too happy with the "buyback at 200 times current dividend" clause... Maybe change it to "the mining income of 200 days at 1 MH/s at the current difficulty". All you need to do otherwise is to pay a 1 Satoshi dividend and then do a buyback.
You misunderstand how it works, the dividend is determined by the mining difficulty and the formula described. I can't issue a dividend at an arbitrary amount in order to buy back shares unfairly. Dividends are issued daily as described by the fixed method.
In the end you're betting on hash rates going up while we are expected to bet on them going down. 
If they go up fast enough, you can buyback and reap the profits, otherwise you at least have some cash at hands early while loosing some of your ASICMINER dividends.
If they go up fast enough, you can buyback and reap the profits, otherwise you at least have some cash at hands early while loosing some of your ASICMINER dividends.
My goal is not to pull a "fast one". It is to provide the lowest cost mining asset on the market. There is indeed a risk that I face if mining difficulty stagnates. This offering simply provides people with the opportunity described at the beginning of its description:
1. To provide the most affordable and competitive alternative to other mining assets currently available.
2. To provide an easy choice for investors to earn mining rewards without the responsibility and hassle of running personal mining rigs and farms.
...and for fuck sake people, bonds do not pay dividends!
Bonds pay interest to the bondholders. Why? Because bond is a DEBT aka loan.
Get this shit right and you start making sense. This is not that hard to master
Bonds pay interest to the bondholders. Why? Because bond is a DEBT aka loan.
Get this shit right and you start making sense. This is not that hard to master
Since difficulty can change during a day, which of the 2 difficulties (higher/lower) will be used for calculation or do you calculate the actual proper amount based on the time stamp of the block where difficulty changes?
Also I'm not too happy with the "buyback at 200 times current dividend" clause... Maybe change it to "the mining income of 200 days at 1 MH/s at the current difficulty". All you need to do otherwise is to pay a 1 Satoshi dividend and then do a buyback.
In the end you're betting on hash rates going up while we are expected to bet on them going down.
If they go up fast enough, you can buyback and reap the profits, otherwise you at least have some cash at hands early while loosing some of your ASICMINER dividends.
Also I'm not too happy with the "buyback at 200 times current dividend" clause... Maybe change it to "the mining income of 200 days at 1 MH/s at the current difficulty". All you need to do otherwise is to pay a 1 Satoshi dividend and then do a buyback.
In the end you're betting on hash rates going up while we are expected to bet on them going down.
If they go up fast enough, you can buyback and reap the profits, otherwise you at least have some cash at hands early while loosing some of your ASICMINER dividends.
Do you own any hardware to back up this asset?
Or is this a totally virtual asset?
Yes backed by shares, still virtual!
Or is this a totally virtual asset?
Yes backed by shares, still virtual!
Sweet, I could use some TAT.VM for my TAT.AM 
The asset is open for early bidding: https://bitfunder.com/asset/TAT.VIRTUALMINE
The IPO will go live at 12 PM EST.
The IPO will go live at 12 PM EST.
Where do the dividends come from? If ASICMINER pays less than current mining reward per MH (due to various reasons, such as necessary reinvestment), will TAT fill up the dividend from own resources?
If ASICMINER dividends are insufficient, I have a reserved pool of bitcoins to cover any differences. As part of my personal plan to protect myself in this endeavor, I must reserve a fair amount of personal coins to remain agile and prepared for any market/mining shifts.
Backing of Bonds
The total amount of bonds issued will always be backed by a qauntity of ASICMINER shares that represent an amount of hashing power that is equivalent to TAT.VIRTUALMINE’s total simulated hashing power, as determined by http://www.asicminercharts.com/live/ or the most recent hashrate as verified by ASICMINER staff.
The total amount of bonds issued will always be backed by a qauntity of ASICMINER shares that represent an amount of hashing power that is equivalent to TAT.VIRTUALMINE’s total simulated hashing power, as determined by http://www.asicminercharts.com/live/ or the most recent hashrate as verified by ASICMINER staff.
The ASICMINER shares backing this are unencumbered ones, correct? i.e. this isn't being backed by the same shares that are backing your pass-throughs?
That is correct, there will be no double-representation. All of my ASICMINER/G.ASIC/AM-PT/ASICM/TAT.AM holdings are verifiable, including my public BTCTC portfolio, my Friedcat address, and my BitFunder address (which is the same as mine with Friedcat).
I assumed that would be the case - just wanted it made explicit.
Where do the dividends come from? If ASICMINER pays less than current mining reward per MH (due to various reasons, such as necessary reinvestment), will TAT fill up the dividend from own resources?
Backing of Bonds
The total amount of bonds issued will always be backed by a qauntity of ASICMINER shares that represent an amount of hashing power that is equivalent to TAT.VIRTUALMINE’s total simulated hashing power, as determined by http://www.asicminercharts.com/live/ or the most recent hashrate as verified by ASICMINER staff.
The total amount of bonds issued will always be backed by a qauntity of ASICMINER shares that represent an amount of hashing power that is equivalent to TAT.VIRTUALMINE’s total simulated hashing power, as determined by http://www.asicminercharts.com/live/ or the most recent hashrate as verified by ASICMINER staff.
The ASICMINER shares backing this are unencumbered ones, correct? i.e. this isn't being backed by the same shares that are backing your pass-throughs?
That is correct, there will be no double-representation. All of my ASICMINER/G.ASIC/AM-PT/ASICM/TAT.AM holdings are verifiable, including my public BTCTC portfolio, my Friedcat address, and my BitFunder address (which is the same as mine with Friedcat).
Backing of Bonds
The total amount of bonds issued will always be backed by a qauntity of ASICMINER shares that represent an amount of hashing power that is equivalent to TAT.VIRTUALMINE’s total simulated hashing power, as determined by http://www.asicminercharts.com/live/ or the most recent hashrate as verified by ASICMINER staff.
The total amount of bonds issued will always be backed by a qauntity of ASICMINER shares that represent an amount of hashing power that is equivalent to TAT.VIRTUALMINE’s total simulated hashing power, as determined by http://www.asicminercharts.com/live/ or the most recent hashrate as verified by ASICMINER staff.
The ASICMINER shares backing this are unencumbered ones, correct? i.e. this isn't being backed by the same shares that are backing your pass-throughs?
Yay, waste more coins on PMBs that will have zero value soon
Take a look at this: http://bitcoindifficulty.com/
Print it out, hang it on your wall - upside down - and this is your PMB's value.
Take a look at this: http://bitcoindifficulty.com/
Print it out, hang it on your wall - upside down - and this is your PMB's value.
There is no denying that there is a market of people that want to buy their hashes through mining assets on the exchanges, rather than buy mining equipment themselves.
My goal was to lower that cost with this asset. It is priced to be less expensive than any other mining bond, per hash. Hopefully people will see that they are overpaying elsewhere, and take the opportunity to lessen their overhead.
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