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241  Economy / Securities / Re: [AMC]-The Official Active Mining Cooperative Discussion on: June 27, 2013, 10:45:40 PM

There are so many insecurities, man-sized holes, and pure 'makes no sense' holes in the entire 'business' and it's relationships with other companies I don't even know where to start. I am 100% totally jealous of the company owners that have managed to secure their retirement in a few weeks. Buying shares @ current value? HELL NO!

I'm all ears. What are your precise objections?

This guy on reddit raised some valid objections:

Quote
AMC is ABSOLUTELY not worth the .0025 / share that it is going for right now. All of the increase since its original .008 price is based on this news that they have hardware coming out in the future that is on par with what others are offering.

Furthermore and MOST IMPORTANTLY, the company that is listed, AMC, will only receive a VERY SMALL percentage of profits from the sale of this hardware because it is some other company, VMC, that will actually be selling it. Basically what happened is that this one man, "Kenneth Slaughter", owns both AMC and VMC. KSlaughter used funds raised from his selling of AMC shares to fund development of hardware that VMC will sell. As a shareholder of AMC, you will only see 10% of the profits made from VMC even though you have wholly funded VMC's R&D.

Imagine in an alternate universe where ASICminer was instead two companies, say ASIC-1 and ASIC-2, where both are owned by friedcat. ASIC-1 mines for bitcoins while ASIC-2 produces hardware. However, friedcat only puts ASIC-1 on the market. When friedcat has his IPO, he will use the raised funds to produce hardware using ASIC-2. The shareholders will only see value of 10% of hardware sales and then the mining revenue, even though they are funding the entire operation. This alternate universe is essentially what you have with Kenneth Slaughter and AMC/VMC.

Other points of concern include that the dividends per share will be worth less than half of the % they currently receive by April of 2014 because in the written in the contract is the clause that allows KSlaughter to increase the amount of shares receiving dividends from the current 40,000,000 to the full 100,000,000 at that time.

Additionally, the contract allows KSlaughter to continuously undersell the current market price all the way down to .008 BTC/Share

This is not to say that AMC does not have value, but please be aware that any hardware "breakthroughs" should not have a 200% effect on share price.

Edit: Personally, I would buy in if prices fell to somewhere around .012 BTC/Share
242  Economy / Securities / Re: [AMC]-The Official Active Mining Cooperative Discussion on: June 27, 2013, 09:43:20 PM
I can't help but feel that this 0.0025 IPO is heavily in favor for the early adopters.  

We are the early adopters, of Bitcoin and of AMC.

I beg to differ regarding AMC.  I'll concede if price surpasses 0.0025 in the coming months.

Ken is releasing it at 0.0025 BTC / share.  Each share being 1 /100 000 000 of AMC
So you get a market cap of 250 000 BTC, or $25M US at $100/BTC.
That works out to $4.1M per Avalon machine!

How the price of 0.0025 was conceived makes no sense to me.  I thought the original IPO (at a much much lower price) was supposed to be for hardware funding to begin with.
243  Economy / Securities / Re: [AMC]-The Official Active Mining Cooperative Discussion on: June 27, 2013, 09:37:00 PM
I can't help but feel that this 0.0025 IPO is heavily in favor for the early adopters.  
244  Economy / Securities / Re: [AMC]-The Official Active Mining Cooperative Discussion on: June 27, 2013, 08:17:11 PM
which will receive a total of 100% of the company's virtual-currency profits after all expenses until the total dividends paid is equal to the offering price of .0005

Does it mean that once we get 0.0005 in dividends, the company can just stop paying dividends at all? Does not make sense if you buy at 0.0025.



+1
245  Economy / Securities / Re: [AMC]-The Official Active Mining Cooperative Discussion on: June 27, 2013, 06:09:19 PM
I serve to please  Grin  was confused as the url lead to some nootropic pill website.   it can be found on github if anyone's interested.  http://blog.seanja.com/2012/11/dynamic-animated-countdown-clock-gif/
246  Bitcoin / Hardware / Re: [Ann] US based Avalon ASIC chips and assembly: 3,197 remaining on: June 25, 2013, 12:47:11 PM
Has a thread been created yet on the most efficient way stack/case these up?

I have 4 K16's and would like to house them into 2 units.  
247  Bitcoin / Project Development / Re: Sick of surveillance on: June 22, 2013, 06:19:12 PM
https://www.freedomboxfoundation.org/ is doing exactly what you are proposing.
248  Bitcoin / Bitcoin Discussion / Re: Crowdfunding Resources for Bitcoin on: June 22, 2013, 02:39:17 PM
Coinfunder - it also has a novel bounty section to "bribe" merchants that currently do not accept bitcoin.
249  Other / Off-topic / Re: Who satoshi is on: June 22, 2013, 02:37:11 PM
really...?
250  Economy / Securities / Re: [BTC-TC] Community Exchange w/ Options, DRIP, 2FA, API, CSV, etc. on: June 22, 2013, 02:01:55 PM
website down?

Same, ohhhhh the anxiety I am trying to keep out of my mind.
251  Economy / Services / Re: [BOUNTY] - Bugs at the Kraken.com Exchange on: June 21, 2013, 07:30:00 PM
I submitted a bug via email.  Do i get a bounty?  Grin 1Q7M7CFk2VDa7DdbSh4A62p9fxeEPkoqPS

252  Bitcoin / Project Development / Re: Let's Build a Town, Bitcoin Town on: June 21, 2013, 07:05:35 PM
This whole thread reminds me of ramblings of a slightly mental individual with a massive unmedicated ADHD problem.
253  Other / Beginners & Help / Re: bitc-e.com new phishing domain on: June 18, 2013, 01:53:29 PM
image of the post.  i read through the thread and i didnt see any sale.

https://i.imgur.com/wPlzPP1.png
254  Bitcoin / Hardware / Re: Is Avalon mining with customer hardware? Answer is here. on: June 17, 2013, 02:07:21 PM
not suprised at all.every company will test their machines.maybe one week,maybe few month,who know

They should be using a testnet or sending the coins to the purchasers bitcoin address.
255  Bitcoin / Hardware / Re: [Ann] US based Avalon ASIC chips and assembly: 4,293 remaining on: June 15, 2013, 09:16:15 AM
Would there be any type of discount (on the building fee) if someone wanted 100+ K16s built and tested?
256  Economy / Service Announcements / Re: [CONTEST] KRAKEN.COM - 1 Week Trial Mode Top Trader Tournament - 10 BTC Prize on: June 14, 2013, 12:36:20 PM
what does the error "Rate limit exceeded" imply when trying to execute an order?




EDIT: Same error with only 10BTC and no leverage
EDIT2: Same error with a simple buy/sell
257  Economy / Service Announcements / Re: [CONTEST] KRAKEN.COM - 1 Week Trial Mode Top Trader Tournament - 10 BTC Prize on: June 14, 2013, 11:15:01 AM
Awesome!  I'm assuming this is for people who have been beta testing from the beginning as well?
258  Economy / Scam Accusations / Re: SUSPECTED SCAMMER: Mosper on: June 13, 2013, 01:49:51 AM
This guy is actively scouring reddit and messaging people here trying to sell products.  I dont even know how he really tied my reddit username to this one.  It's not ive gone to extreme measures to hide the connection, but it just shows how far this guy is willing to go to scam.
259  Bitcoin / Hardware / Re: [Ann] US based Avalon ASIC chips and assembly: 3,263 remaining on: June 08, 2013, 06:55:11 AM
Quote
Fully Assembled Unit:
The fully assembled unit, including all necessary hardware, is $133.5, to be paid in BTC.

Does this price reflect per 16 chip unit?  Or per any amount of chipped unit?

You have to have your own chips or have participated in one of the group buys on this thread. That price is only for assembly with YOUR chips.

I understand you have to buy the chips now and pay for shipping and assembly later.

My question is do I pay $133.5 for each 16 board chip?  I.E. If I buy 64 chips and want them all assembled will it cost me $133.5 X 4?

Thanks

If I understand correctly then Yes.

That $133.50 is the cost of parts(except the ASICs) and assembly of a single K16. You buy the chips now. Once all the orders are in, Steamboat will email those that need to pay for additional services(shipping, assembly, testing, hosting)

You have answered YES to the OP's question here when in fact I think you should have answered NO.  The OP is asking if all they have to pay, in total, is $133.5 for each 16-chip board. Whilst you are correct in saying that $133.50 is the cost of parts except the ASIC's, and your intended answer is fair, this is still rather confusing to the OP.  The answer is that it will cost 1.376 BTC for 16 chips PLUS AN ADDITIONAL $133.50 for the assembly.

No he understood me correctly, perhaps could have worded it better but i got the point.  See bolded above.  

To summarize.  Not including the BTC you must purchase for the chips.  You also have to pay $133.50 x (64/16) assembly.  I.E. each assembled 16 board will cost you $133.50.

Thanks everyone for clearing it all up.
260  Bitcoin / Hardware / Re: [Ann]Purchase ASIC now: Batch 3, 9518 available on: June 08, 2013, 04:29:38 AM
Board assembly sourcing is taking the majority of the time. This is not something that can be rushed. Due diligence must be performed in order to ensure quality, price, and timeline standards will be met. The assembler must have a fully automated assembly line with the capacity to produce the full run quickly, test the boards to ensure functionality, and offer a warranty on workmanship. I have received quotes ranging from $75 to $290 per board. Choosing the cheapest option is a possibility, but there will be tradeoffs in doing so.

my 2¢ - I've had good experience w US based Advanced Circuits (4pcb.com).  I've only done small boards though.

Planning on pitching in for a few dozen chips, once I have the funds.

Any quotes on this?  Just realized they are in my home state.
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