If you believe that Avalon units purchased are worth 3x more than the market price they were purchased at, BASIC-MINING market cap should be 360*3+1247+350 = 2677 BTC, 0.53 BTC per share. Anything above that means you see value in intangible assets. Brand recognition, maybe?  This is unrelated to PMB: I'm using market value as a reference. (And situation with ASICMINER is different because it owns significant intellectual property/intangible assets: they produce their own chips and units.) Your logic to shake weak hands is flawed, troll better, not louder 1247+350 can and will be used to purchase mining equipment in the future, so the market has placed a value on future earnings. Liquidity is another factor, few are willing to sell shares at any price currently. |
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No dividends from ASICMINER-PT, yet? I haven't seen mine in BTC-TC.
Have a Coke and a smile while you wait. |
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If these were in my personal portfolio I'd either liquidate them in baskets(25*4) marked up a few percent over current ask or write a reasonably attractive call option against them with a short term expiration(10 - 14 days). This way we continue to collect dividends on all or most of the shares and if someone buys them from us they'll do so at a premium. If they do not get sold/exercised then we'll be where we are now...which is still a pretty good place to be.
Writing calls certainly sounds like an attractive exit strategy. I wasn't the hippest on buying these in the first place, and now that we have them, I hesitate exiting prematurely as we have nothing better to replace them with as far as available hardware, and we still have 1200+ banked looking for a home. Just discussing, as always. |
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You'll exclude the ASICMINER-PT dividends and continue to do a 100% pass through on those? Absolutely. Do we still need the AM-PT? I admit it's very nice. At what point should we look at trading them for more hardware? When the third Avalon is delivered? I'm just asking for thoughts. No we don't need the shares any longer. I'd prefer to liquidate them at a beneficial price rather than based on an event. Without something on the near term horizon, they are better than holding bitcoin currently, once we are able to put a majority of bitcoin on hand to work, I agree liquidating would benefit, it's just if you liquidate now, and do what with the proceeds? |
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There's a growth fund built into bASIC-MINING's contract as it stands
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The growth fund(or Reinvestment Fund) was suspended by shareholder vote on 12/29/12 after delays to the original ASIC hardware shipment
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we have received nearly twice the hashing power it would've provided had BTCFPGA not gone south. I would you like to raise that the Reinvestment fund be reinstated (if it isn't already). The mining power we now have more than covers it. This should not require a motion as the terms have been met. I'll reinstate the fund tomorrow. Cheers. You'll exclude the ASICMINER-PT dividends and continue to do a 100% pass through on those? |
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share price steady to increasing...
Wait til the weekend, not always the best price for the week, but more often than not |
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Wait, so it is getting split or isnt it... It is if the motion passes. YES: 3479 - NO: 5 - ABSTAIN: 2 Over 2500 Yes votes, unless someone makes a massive change, impossible to fail |
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https://bitcointalk.org/index.php?topic=130982.0Motion to suspend the 30% Reinvestment Fund contributions and instead disperse
the funds as daily dividends to shareholders, until such time as the company's
pre-ordered bASIC01 mining unit arrives. At such a time the 30% Reinvestment
Fund would be reinstated as per bASIC-MINING's contract. https://bitcointalk.org/index.php?topic=130982.msg1423888#msg1423888While we could wait until the sun burns out to receive our bASIC01 mining unit(...and remain empty handed...and cold), we have received nearly twice the hashing power it would've provided had BTCFPGA not gone south. Cheers. Haven't the funds been recouped and redeployed into Avalon now? If so, the arrival of the batch 3 unit should probably be a signal to resume the reinvestment fund. Or after x% of initial capital has been deployed. And you are right, my idea was a fustercluck. |
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Not my intent to make a cluster of it, but a company run DRIP would be attractive by offering treasury shares, but would require another motion since all IPO shares are issued. Just a thought to retain a growth fund with minimal dilution. And naturally fractional shares are not an option.
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3.5 = Overpriced
I've been hearing people claim this since I bought at 0.75 |
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I'm considering a new motion.
I'd like to get a sense of what other shareholders think of the idea of a stock split. We have a lot of shareholders with < 10 shares and I think for some liquidity is becoming a problem. I feel that if we did a 3x or 4x split many of our smaller investors could take some profit if they so choose while still maintaining a stake in bASIC-MINING. Conversely many smaller investors on the sidelines could take a position without bASIC-MINING becoming an uncomfortably large portion of their diversified portfolios. Thoughts?
Edit: I believe this is possible with current btct.co software...perhaps burnside can weigh in on this.
I was actually thinking about this today before you posted it, and had a 10:1 split in mind. While technically a non-event, it does go a long way to investor psychology. I am in for the long term hold, but this would give those looking for the short term trade more options. There is a large war chest (1400+) of bitcoin to put to work, so the share price has a way to go, but if nobody is willing to sell.... It also adds the ability to reinvest dividends quicker for those who wish to hold and have smaller amounts of shares. Getting the share price down through a split will also put a damper on anyone wishing to start a micro-share passthrough in the near future. So putting the motion out there is a great idea. |
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What do you think of getting on some bitfury chips (when they become available)?
Hashing @ 0.39 watts per 1GH/s of power.
We should get in on this. Shipping from Russia is the problem Impressive result, thanks for the info. I'd prefer a single source for a finished product, but will look into it. I've been in contact with a fellow that claims to have a Bitcoin mining device for sale. He's been unresponsive, vague, and it seems English is his second language, but he now claims to have the unit in hand. This sounds like an Avalon batch 2, but he's posted no pictures. As this is only 100 miles or so from my office I'm trying to arrange a meet & greet to examine the device. I'll keep you guys posted. That would be great if it pans out being almost local and if the price was right |
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This drives price down to 50 USD per btc so your AM selling at 4 BTC a share or 3 BTC a share lost value if you want to convert it to USD.
if you want to convert it to USD.  Well obvious that if you live in USA that is the liquidity that concerns yourself..An Italian would not need USD nor would an AUSSIE. I have seen a few countries tighten the liquidity of BTC to their native 'coin' This brings a really interesting twist or wildcard to the game. If these coins are driven underground do they gain value rather then lose value ? Odds are they would lose value to local currency, as they lose liquidity. That is not a given written in stone, just my view of a likely outcome. If government approved fiat was to lose acceptance as stable, BTC may be highly desired and increased demand might make it more valuable, but in some economic crisis gold/silver would be my guess as the goto store of wealth before BTC. |
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burn, is there a cap on how far history goes? how can you access the entire history for a security?
I have the whole history graphed here, pulled from the API: http://coinflow.co/chart/ASICMINER-PTIs news available via the API? That might be helpful when looking at the history as well as the dividends |
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This has caused the NAV per share to decrease to BTC0.77
The spreadsheet shows you have bASIC-MINNING at 0.75, the 7 day average is 0.7112 and then you have the NAV at 0.78, I know it will get there over the next week, but can't front run It has been a very unique series of events that occurred one right after the other. Here's what happened: Before I made my weekly dividend post, I removed the fund's sell wall from the market. I don't normally do that, but I did this week. I did this because the NAV went down I wanted to give a chance for the other shareholders who are selling to lower their price first. Next, I made my weekly dividend post. Then bASIC announced that they received their Avalon. I knew this would have a drastic effect on the price, so I checked the latest price and updated the spreadsheet with "last price" instead of the usual 7 day average. All the while, I still did not restore the buy wall on btct.co or Bitfunder. There was no intent for MiningCo.ETF to front run as MiningCo.ETF never had any shares up for sale. Ironically, between your post and now--there has been so much volume on bASIC-MINING that the 7 day average price is actually higher then my spreadsheet. The usual sell wall will be restored in the next couple of hours on both btct.co and Bitfunder. And they will be priced as usual using the NAV calculated with 7 day averages from the underlying assets. I haven't been a buyer recently either, and while not long term holder, in bitcoinland probably one of the longer holders around, I was just poking some fun at you. I am very shocked just how much the IPO shares were holding bASIC-MINNING back as we see them run now that all 5000 shares have been issued, 1000 held by creativex I do not worry flooding the market, so the 4000 in the float are hopefully in strong hands seeing how strong the rise is. |
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This has caused the NAV per share to decrease to BTC0.77
The spreadsheet shows you have bASIC-MINNING at 0.75, the 7 day average is 0.7112 and then you have the NAV at 0.78, I know it will get there over the next week, but can't front run |
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I'm travelling and unable to confirm at this time...but I've just been notified that DHL dropped off a package from one Zhang Ying. I believe the Batch 2 Avalon has arrived. Great news! When do you get back and get it mining? A few hours at best...but I'm hurrying! It'll be mining for us tonight. No tracking information no notification at all...just there. Glad someone was there to receive the package. I'll get some pics up tonight when I get it running. Don't stay up all night playing with it  |
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They haven't got enough hashing power to maintain 30%. BFL hash about 400 Th/s incoming...
Sure they do...two weeks, right? Maybe not 2 weeks, but some day others will enter, so to dismiss that fact is equally foolish as the OP saying we're all fools for owning ASICMINER shares. |
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what if you live dividend to dividend and a delay in confirmations means no funds for rent.
You should adjust your life to cope with this. Living paycheck to paycheck with no emergency fund is not very sound. You could have sold a share or two if this was really such a problem. |
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Just my 2 cents but it might be worthwhile to start posting dividend yield as a percentage in addition to the actual dividend amount.
I haven't posted dividend yields because btct.co does it for you: On the MiningCo.ETF asset page, click on the history tab. Is what you are looking for on the top-right? All and all keep up the great work! Innovative products like yours are only helping BTC
Thanks for the kind words. That's exactly what I meant I was also referring to adding to your weekly update posts on this forum (ie this weeks dividend was 10.0% unannualized) but like I said its simple math and anyone can do that given that you already post the NAV. It certainly might be an interesting data point for some, I tend to like watching the yield against initial investment, or cost averaged investment. The NAV might rise or fall over time, but what I've invested is rather constant, and that is the return I am interested in. |
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