I am not savvy about how IPOs generally work, but it seems to me that some % of the company is basically without ownership. If each share presently in the hands of public shareholders represents 1/400000 of the company, as do the primary shareholders, where does the ~46K of unsold shares reside? I am accustomed to an IPO having underwriters, so unsold share are the obligation of the underwriter to purchase. But this is obviously not the case here, given the unorthodox market in which we traded.
So, did those unsold shares disappear? Do we the scale up the existent shares, or are they now the property of the primary shareholders, effectively giving them their 200K share plus the 46K unsold IPO shares? Or are there really only about 354K share total?
Im not a pro either but all 400000 shares were owned by bitfountain from the start. They sold 145000 or so and the remaining shares are still theirs. My understanding was that 200`000 shares belong to Bitfountain, 200`000 to ASICMINER company. ASICMINER sold some of the shares in thr IPO to raise capital. It is not clear at all what the fate of unsold shares is, nor what the fate of their dividends is. |
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Invest with Pirate!
Alternatively, and more seriously, donate half of it to developers and evangelists whose effort you deem productive thus far. The other half - burn priv keys, KLF style, film the burning, and send footage to Spekulatius for his documentary. Prove that lost coins do not affect Bitcoin system, ad nobody gives a fuck.
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Watch for air bubbles when suspending the object into water. Gently tap the thread to get rid of them.
Clean the object, handle with gloves (non-powdered).
Use distilled water, and read the density from the table for the particular temperature.
Repeat several times. What is the variation between measurements? Is it random, or is there a consistent up or down trend?
Make sure the balance is level.
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when Iraq started using euro's as for oil the US invaded ....
just saying
When Col. Gaddafi started looking for alternative currencies, he was murdered. Just saying. Meh Gadaffi deserved it. Unfortunately... he wasn't tortured first. Farlack, just curious, have you ever been to Libya? |
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re: the approximately 46K share that remained unsold after the IPO. Are these considered a current asset of the company that, should they be sold, the proceeds from which will also be distributed to current shareholders?
I doubt they will be sold. Because why should you spread your divididends among more people when you dont need the money raised through these shares? You wouldn't be diluting the existing shares: it was repeatedly pointed out that each share is entitled to 1/400`000 of the profits, regardless of the number of sold shares. |
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20th century thinking is not appropriate today. Government, or a powerful corporation, does not have to search your home to find wallet.dat or paper wallet or even your brain. They need to watch network traffic, searching for the particular spend they are after.
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Dammit! Just when Bitcoin started getting there...
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when Iraq started using euro's as for oil the US invaded ....
just saying
When Col. Gaddafi started looking for alternative currencies, he was murdered. Just saying. |
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Ideally, average price from multiple exchanges should be weighted by trade volume.
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The Marxists have won! The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything. The rich f**ks get a 30% haircut. The crisis was precipitated by those very same fu**s, however.  Given that the deposits guarantee was/is for €100,000, it seems pretty reasonable and according to the rules. Given that the banks were insolvent, shareholders and bondholders were wiped out, and unsecured/uninsured creditors (including depositors > €100k) pay the balance. The ones with deposits <€100k are protected by the deposits insurance. Is portion over 100k taxed, or the whole amount if over 100k? |
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Have you seen the volume in recent weeks? The ratio of price increase vs. volume is very different than back in 2011. It may very well be sustainable, depending on the thinking of these new buyers.
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I believe there are still 400,000 shares in existence though, some of them weren't stold but they still exist. Do I have this correct ? Yes, but according to friedcat each share is always entitled to 1/400`000 of the profits. Up to this point, all profits were funneled back to investors. From now on, only 154`262/400`000 will be given to the investors - which is less than half. |
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Also, note that there are various clients (in addition to the "reference" bitcoin.org client) that may be using different terminologies. For example, some use "deterministic" wallets, where the initial "seed" is used to generate pseudorandom sequence of keys as needed. The advantage is that you only need to back up this seed once, to be able to regenerate your wallet (all your keys) as needed.
This is in contrast with the reference client which generates a random new key every time, so its wallet is "just a bunch of keys" that all need to be backed up periodically (by default, there is always a pool of 100 pregenerated keys in the wallet of a reference client, so a backup is good until you've generated 100 new addresses/keys).
EDIT: just to make sure everyone understands - to spend bitcoins, you need the private key corresponding to the public key which corresponds to the address the coins were previously sent to.
Private key --> Public key --> Address (these are all one-way cryptographic functions, practically impossible to reverse)
This is what a client takes care of, and manages all the keys, and keeps tabs on your total "balance".
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There is usually a small amount of electricity provided by the phone line itself, but it is very low current and highly illegal to tap for non-phone purposes. You'd be lucky if you could draw more than 1-2 watts before the voltage sagged to unusable levels or blows a fuse somewhere.
And there is no 1Watt miner out there? And why exactly is it illegal? What is the harm if they are sending that electricity anyway? They are not sending it anyway; it only flows if you are drawing it. |
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Title says it all. If miners confirm transaction blocks, how do we transfer funds once there are no more miners?
Transaction fees. |
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The question is: have FPGA miners had time to evolve to their technical limits, or the ASIC race took away the resources? Is there room for improvement for FPGAs? By improvement, I mean $s/hash, J/hash, or both.
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I afraid there is not enought off-exchange liquidity to cash out $4m in Malaysia yet.
You will need to find a number of "drops" in Malaysia - people/companies with bank accounts, who will receive thansfers from exchanges/buyers and cash out for you.
You just need to buy Bitcoins and sell them anywhere in the world, receiving international transfers to your Malaysian drop's accounts.
If you will be buying on main exchanges supporting uptrend and selling on off-exchange market (OTC, LocalBitcoins etc), you can reduce your loses or even get more at the end.
Then you don't need Bitcoin. Just transfer the money to you drop's accounts. |
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Thanks for a thoughtful reply, niko. I have been waiting for your kind of reply. In reality, however, this implies trust in a central authority issuing and destroying currency at their (corrupt) will. It implies uncertainty. Not necessarily, right? In the same manner that the Bitcoin network is self-protecting, it can also be programmed to be self-regulating: we can program the increase in quantity, one in which the increase depends only on the velocity, by some (still undetermined) formula. True, and this kind of coin would still be better than the current fiat system because the supply of new coins would be "democratic" - anyone willing to mine could do it. In the case of fiat, there is a monopoly on issuing money, and consequences for attempting to DIY are rather violent and painful. You would also need to allow for the opposite - a decrease in the supply. But why bother? Just so I can always express a value of a thing in roughly the same nominal price? Why not simply let the value evolve, and correct for inflation/deflation when analyzing historical prices? Why not evolve a correct way of thinking about value, saving, and spending - if people really hold on to their (presumably appreciating) coins until they absolutely must spend them - so be it! The world won't end, and life will find new equlibriums and new games to play. As pointed out in the OP, it will all make sense in retrospect.  |
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What's up with Virtex? Their site is slow and I can't get into their trading engine. Anyone else having trouble today?
No idea, but you are posting in the wrong place. Please move your thread to "service discussion". There is a link in the lower left of your screen. |
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