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Brought to you by Fasbit.

ASIC Scrypt Mining Is Here.  Don't get left behind.
We are buying 200 Gridseed Miners.  Want to join us?
Alt Coin Mining Will Not Be the Same

You have three options if you want in on the purchase:
1. Buy enough shares to get your own physical miner(s).  When miners arrive, cash in your shares at IPO price and take your miner(s).
2. Buy shares in the GRID pool and leave the miners in the pool.  Take dividends from the pool profit.
3. Buy shares on speculation and trade the shares on the market just like alt coins.

Shares are sold here: http://goo.gl/BUJIN5 (http://goo.gl/BUJIN5)
Price is .000001 BTC - This is the lowest price per share on Cryptostocks.com.  The share price can never go lower than this.
If you don't have enough money to buy a full rig/set up.  You can just buy as many shares as you can and earn dividends.

Manufacturer Specs: http://goo.gl/dM7sqG (http://goo.gl/dM7sqG)
Our IPO Offer:  http://goo.gl/I8YhBq (http://goo.gl/I8YhBq)

Forum: http://gridasics.proboards.com/ (http://gridasics.proboards.com/)

/fasbit
info@fasbit.com

how much a share give you in hash terms?

looks interesting. I am in again ;)

1 Mining Unit cost is $160 / 650 = .2461 BTC - yields .3mh/s
Not amazing...but its very low wattage and low heat.

In Shares, that is about 241,600 shares for 1 mining unit.

Ah kewl...Spread the word!

246,100 shares?

Shares are .000001 each...so yes... 241,600

If you are into speculation...remember the share price cannot go lower than .000001 BTC

This project sold 2 Millions shares in 2 hours.... If you are into hype...Here ya go... this project is for you too...

Update... make that 4 million shares...

This project sold 11 million shares so far....

If you cant double your money on this IPO...just quit...just go home...

If you compare the GRID and FAS listings on cryptostocks, then  GRID is better value if both trade at the same price, 820 GRID shares gets you the equivalent of 1kh/s mining, in FAS you needed to buy 2000 shares, both at 0.000001 per share, so if FAS trades at 0.000003-0.000004 then GRID should resonable trade at 2000/820 = 2.44 times that so 0.000007-0.000010 btc per share...we'll see in a day or two...

I ran the numbers and I came up with a similar conclusion... the only difference is the wait time for the hardware... that instant gratification that dividends give you make a difference...but we shall see...

Let the feeding frenzy begin

embarrassing...

Why is that?

I want to thank everyone for a great IPO launch. 
We have lots of volume and lots of trading.  Still time to get in...

I love fastbit.
I made a killing on the original FAS IPO.
Am re-investing all my profits
Go PROJECT GRID

Whats the rationale behind people buying for 2? Aren't they paying double price for the miners, why don't they get it elsewhere?

I don't understand the appeal behind going above 1.

If you run the numbers, it still make financial sense even at 4.  So 2 or even 3 is still a good price...

GRID has highest 7 day volume of all BTC shares....

Thanks, I was assuming wrong then, haven't actually calculated.

You will need to order 200 miners or more directly from the manufacturer and spend some time and invest 35 000 usd+ if you would like to buy those miners yourself at that low price.
Stocks you can trade to and get in/out of whenever you like, if you buy 200 miners yourself it's a slightly bigger operation to get in/out of a position than just typing a price and pressing a button.


Compare it with other stocks investments and you see why people buy stocks at higher than introduction price.
The expected dividend/return will be high even when you buy at 0.000002 or higher.

Lets take a few example:
==================
People buy shares in CRYPTSY for 0.2 btc a stock, it's introduction price was 0,05 btc per stock so that's 4 times the introduction price for example that people pay for it now, Cryptsy return around 0,2% per week in dividend if you bought it at 0.2 btc.

Some people even buy Vircurex stock for 0,1-0,15 btc and they have been in violation of there contract for soon 1 year now and pay 0% in monthly dividend and if you buy into vircurex then your buying a share of a company that is at -1000 btc or something if you believe there numbers.

BSVM (bitcoiin mining) people buy shares for 0,06 btc and there dividend is around 0,2% per week.
GMP(BTC mining) people buy there shares at around 0,25 btc, dividend around 0,25% per week
MGMP(BTC mining) people buy there shares at around 0.000900 btc, dividend around 0,07% per week
==================


If you run the numbers for GRID you see that you can expect a retrurn of something like 9% or possibly even up to 17% per week on this share if you bought at 0,000001. but lets count low and say:
9,00% a week at 0,000001
4,50% at 0,000002
3,00% at 0,000003
2,25% at 0,000004
1,80% at 0,000005
...
0,90% at 0,000010
0,45% at 0,000020
0,22% at 0,000040

so even if you buy in at way higher than introduction price you will still make better profit on this share than most other shares on Cryptostocks, maby that answers your question.

Hi

One question - when will the miners be bought, and when will dividends start to pay out?

Sorry if I missed it somewhere in description

The logical answer to that is that they will be bought as fast as possible, what bank or payment options Gridseed have i don't know but if Gridseed has a European bank account set up they could take SEPA transfers and should have the money within 24 hrs max so if that is the case the devices could be shipped pretty fast from China then and an estimate would then be miners up and running  within 7-10 days if the batch of miners is sent out from gridseed in the next couple of days.

Would anyone be interested in buying 841000 shares at the price of 0.0000015? I need the BTC for another investment but i'm not keen to sell my shares at 0.000001. Not sure how we would escrow the transfer of the shares but PM me if you're interested. We would probably have to use a trusted 3rd party such as Fasbit, as long as he doesn't mind.

There is something named "Share transfer" on Cryptostocks witch has a fee of 0.005 btc, but i have never seen anywhere you can actually do that, maby it's only the issuer of stocks that can transfer shares throu that option.
Another option would probably be to sell the account with the shares in them if you created your account on Cryptostocks only to buy this stock.
Anyway you probably need to find an escrow if you want to sell 1,26 btc worth of stocks as you at 2 posts is a bit green on this forum...

Another option if your not to much in a hurry is to just put 50% of the shares up for sell at 0.000002 and sell off the rest for 0.000001 would at least give you 33,33% of the money you had in mind getting for them in hand directly.

Just to mention that there is now a GridSeed Project forum  - http://gridasics.proboards.com/

So any questions you have would be best to post there

If you find a buyer, I will do the escrow for no fee.
I can make the transfer internally.

We are probably March 10th for a ship date.  Miners are ordered.

I bought a few. I already got paid on the first dividends. How often are dividend payouts?

appear to be 4-day intervals at present

Yes regular 3-4 days... Damn price is 1 right now, should i invest in this instead of new mining rig? :D Looks quite promising.

This is a long term payout project... I will be adding hash power regularly... just like FAS... this is a little slower... but its still regular...
./fasbit

strange the price has dropped to the lowest of values..

I know!  As far as I am concerned...its just a good "buy" opportunity.... I am buying shares personally myself...
./fasbit

tip @fasbit bumbacoin
;)

Interestingly enough...the last day he was apparently even logged into bitcointalk before up and pulling a casper!

where? oh where? oh where? is fasbit?

where? oh where? oh where? is fasbit?

where? oh where? oh where? is fasbit?

where can fasbit be?

fasbit you havent payed out dividend for quite some days on GRID and FAS project on Cryptostocks, when will you get back on track with that and why havent there been any dividend the last weeks.

fasbit back in action it seems
..

Ticker    FAS - Fasbit - Instant Mining
Date    14 Jun 16:20
FAS - Big Dividend on the Way
Sorry folks... I have been out of touch... on the road.... far from technology...
Dividends on the Way tonite.

./fabit

PS.  More hardware will be ordered this week.
PPS  Buy those cheap shares!!


https://cryptostocks.com/announcements/2601

what is happening with GRID dividend ?
the last one was the same as previous values, but over three weeks rather than 3 days .
were they turned off??

Not turned off.  Fasbit posted an update on July 19th:

"Ticker    FAS - Fasbit - Instant Mining
Date    19 Jul 09:21
FAS - Updates
I have been out of touch for the last 60 days due to work travel.  I'm back on top of everything and playing catch up.

1. Look for the Dividends to pick up pace.  I purchased and added 2 ANT Miners out of pocket to help compensate for any performance issues that might be attributed to lack of management on my side.  Both Ant miners are up and running and already making an impact.
2. We have 2.25 BTC in hardware reserve.  I will be spending that before the end of the Month.  Look for this to also pick up the results.  I am doing the research now to get the "best bang for the buck."
3. I still have a smal percentage of our miners off line due to overheating of my lease space.  I have moved most of the excess heat makers to my personal residence to help spread the heat out.  This issue should be 100 resolved in less than a week and this will also help boost the results.  I have upgraded electrical and AC to help absorb the influx.
./fasbit"

*fasbit, if your reading this it sure would be nice to hear you got those other gridseed's running.  Also, any chance of posting the public address for each of the 3 listings so we can essentially determine frequency/amount of dividend payouts?

Update 08-13-14 - Mining revenues are visible here:  http://wafflepool.com/miner/17Jr4RMMstbuZNte6AyiR4aChCJxU9hatr

http://gridasics.proboards.com/thread/37/fas-grid-shares-fas1000-grid1000

I for one liked to get rid of coindust using GRID :D

I doubt its possible to convert the stocks like that but it should be possible to create new stock and then transfer them. But I am not sure how you think this will attract more buyers? Only way to get this going again is to push fasbit to keep to what he said in the announcement. Who would otherwise buy into something this uncertain?

Date    24 Sep 03:26
GRID - Update / Dividend
1. I will be purchaing an extra 40 mhs to increase the hash rate.  Watch for the rate to increase.
2. I will be updating the antiquated Grid Seed miners with more valuable and current mining technology.  I have Grid seed miners for sale for $25.00 (includes usb cable).
3. Dividend tonite by midnite US Central ~.5 BTC
4. I will be changing the payout ratio to 50% dividends and 25% hardware (to increase the pay out rate) 25% Profit.
./fasbit

Above announcement sounds good in my opinion, if he does what he says...

I almost lost 1 BTC on GRID, FAS and FASBIT.. i got scammed on other stuff on cryptostocks as well

have you disappeared ??
but seemingly mining still as of 5 november

http://wafflepool.com/miner/17Jr4RMMstbuZNte6AyiR4aChCJxU9hatr

//
edit
oh i see the post at gridseed forum..

hmmm what to make of it.

also FASBIT exchange ???

Just wanted to give you guys a heads up.  I finally received an e-mail response from fasbit in which I asked him why the dividend mining address hadn't received anything in 2+ weeks.  We went from mining 0.05BTC every other day or so to nothing for several weeks then our last payout 2 days ago and now it is only 0.03477

Based on what I've seen watching this address the following things I suspect are true:
1.) 40 or 50 addtional MH was never added.
2.) Existing rig's where shutdown for quite sometime

This is all fasbit responded to my e-mail: "Payouts will resume this weekend.  I will post a detailed update on Crypto-Stocks."

*I have a sneaking suspicion that the update this weekend is going to royally suck for existing shareholders.

*Think we have another complete bust stock situation on CS with fasbit, fas, and grid fellas :/

yeah he replied to me too :)

For those of you following up on this, there was an annoucnement on cryptostocks:

GRID Update
OK... this project is not dead...
1. We have 60mhs of SCRYPT mining purchased and up and running and hosted on GAW
2. We have 230 GHS in SHA256 also mining and running.
3. We have 10mhs running in the original GRIDSEEDS  (about 30 units) at my house.
4. We have another 30mhs of GRIDSEEDS idle.  These are being boxed and shipped to Kansas City, where my buddy JCaferJr has agreed to host them for no fee other than the electrical costs.
5. If you want to buy some GRIDSEEDs, im selling them for $20 each.  All revenues will be used to buy SCRYPT mining on GAW.

./fasbit

Very surprised to receive an email today

GRID
First of all let me apologize for allowing this project to slip. I am not offering any excuses, just an explanation:   I lost my day job, and had to let go of the office that housed the GRID miners.  After searching for months I finally had to take a job on the road traveling and just simply could not manage the miners on the road.  This is all history... and we are back on track to make this project work.

1. I have 10 mhs up an running on the original hardware. (about 30 miners)
2. The balance of the GRIDSEEDs will be shipped to "JCaferJr" in Kansas City, who has agreed to run and maintain them. (about 30mhs).  We will only have to pay him for  electrical costs. 
3. I purchased 60mhs of SCRYPT mining and 290 ghs of BTC mining hardware on GAW (with the hardware reserves) and everything is up and running.  So in essence, we currently have 70mhs running and 30mhs idle, for a total of 100mhs.
4. I will post screen shots and updates of the earnings on a regular basis. (Probably each weekend)
5. For the next 3 months I am going to reinvest 100% of the profits into new hardware on GAW and keep everyone updated.  We should be able to double the daily revenue generation with 120 days.  As of today we are generating about .0164BTC per day.
6. I am not going to take any profits from the mining in the next 90 days.  I will put it up for a vote in 90 days, to see if everyone wants to build up the hardware even more or start letting go of some revenue.
7. My number #1 goal will be to increase hash rate and nothing else.
8. GHS mining is just about 2x more profitable for each dollar invested than SCRYPT mining.  Therefore, going forward, I will be buying GHS and not SCRYPT.

I am not putting this decision up for a vote because the project will not survive without this drastic measure.  At this point no one has lost a single Satoshi, nor will I let that ever happen.

Benchmark
Nov 15th:  .016 BTC/day
Target
Feb 15th: .032 BTC/Day

./fasbit

good to see FASBIT alive and well :)
/
i replied to his email suggesting he look at cointellect.com

a cloudmining company that seem to have fairly outrageous returns - i bought a 6month 300 euro contract that paid itself off in 2 months.

Another update. Great to see this project come alive again.

GRID - Update
Reinvestment is working well!  Current SHA256 Hash is 560 ghs.  SCRYPT is 70 mhs.
Will post a screen shot this weekend...
./fasbit

awesome that fasbit is putting some fresh effort in.

lol

I have FAS https://cryptostocks.com/securities/87 and GRID https://cryptostocks.com/securities/94 shares, and I would like to sell them - because I am in urgent need of money. I would accept a much lower price, but due to the stupid design of cryptostocks.com I cannot even sell far under price. Why?


The trading of these two securities at cryptostocks.com has long come to a complete halt,
because their prices are locked at the lowest possible price 0.000001, by huge sell orders;
and there are no buy orders, because the cryptostocks.com system idiosyncratically does not allow for lower prices.


Hard to imagine they suddenly start moving again, just by themselves.
Long ago I suggested something - but my posting got deleted by the thread owner.


If all of our securities get divided by a factor of 10 or 100 (or 1000?),
then we could get out of this eternal deadlock situation,
because suddenly it makes sense to trade these objects again, by (very low price) buy orders.


In contrast: Right now stocks of fasbit are worthless numbers.



Practical example for my suggestion:
If I own 700 GRID now, I should get 7 NEWGRID.
If I own 2400 FAS now, I should get 24 NEWFAS.

That will happen to everyone, so no additional value is created;
but hopefully the price will start moving away from the 0.000001 edge of death.


If anyone has a better idea, please suggest something else.

I like this idea, not being able to sell cheaper than 0.000001 is stupid. I could sell for 50% of that and still be happy. Would probably find buyers too.

^ !