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I wasn't talking about anything from the original XBOND contract (er, indentured text), but now I realize I misinterpreted instructions for transferring shares with redeeming them.
Thanks for clarifying, anyway.
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How to Transfer Shares:Simply push the amount of shares to the issuer account on the source exchange, then send an e-mail to tat.investments@gmail.com noting your account name on the destination exchange you have chosen. Please use the same e-mail address you have registered with the source exchange for verification purposes. This has me confused, because it appears I would get to choose the destination exchange. In the NEOBEE thread you have said we can redeem this for bitfunder only. To be clear: am I unable to redeem xbond shares for their equivalent NEOBEE shares on havelock, and I must sign up for bitfunder? (which I understand has been having some issues lately) Correct. However, you may have your NEOBEE shares transferred to Havelock for a BTC1.0 fee. I was hoping TAT would chime in here, since the language in his write-up is ambiguous-- which led me astray. Thankfully, a couple buy orders for XBOND never filled, or I would be very upset about this. |
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How to Transfer Shares:Simply push the amount of shares to the issuer account on the source exchange, then send an e-mail to tat.investments@gmail.com noting your account name on the destination exchange you have chosen. Please use the same e-mail address you have registered with the source exchange for verification purposes. This has me confused, because it appears I would get to choose the destination exchange. In the NEOBEE thread you have said we can redeem this for bitfunder only. To be clear: am I unable to redeem xbond shares for their equivalent NEOBEE shares on havelock, and I must sign up for bitfunder? (which I understand has been having some issues lately) |
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Sry but were do you got the information that AsicMiner has hundreds of millions $ ? In the last financial report i see
Total: 169,520.57BTC most is send to the investors as dividends.
So 85000BTC at todays price are ~11million $. They have money, but not that much.
Also bitfury is making over 100k$ a day now and i dont think they will stop the development of there chips.
If you include the company's value by share price, then asicminer wields hundreds of millions of $. |
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Without inflation, who cares? Isn't it likely that the ultra-rich's wealth will slowly decay, while the masses's buying power actually has the ability to increase?
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it looks like he's just releasing shares willy nilly
i noticed there were ~10,000 units above the original 2,000,000 shortly after the IPO, and now it appears there's around ~20,000
brilliant idea for this bond really, ethical issues aside, manipulating the share price by buying and releasing the shares by the issuer would be a cash cow (don't mean to imply this is being done, it just occured to me the other day as the price steadily rose)
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One: because people will pay more per terahash while the difficulty is low. That's kind of obvious: your potential return is a lot higher per terahash while the difficulty is low, so therefore AM can charge a lot more. That effect is quickly subsiding, as evidenced by AM's prices.
Two: there is no serious competition yet. Beyond the organic competition anticipated from Avalon, BFL, KncMiner etc getting their shit together, at this point the sales volume of miners is large enough for an established mid-size electronics manufacturer to mosey on over here and embarrass AM price-wise.
Three: electricity cost. Believe it or not, the location of AM (Guangdong province, China) is not the cheapest place for electricity. Don't quote this figure, but I believe it comes out to about $0.06/kWh. As competition ramps up, money getting in on a piece of that 26% APR will launch huge farms in places like Washington state or Siberia where the price is $0.01/kWh - and they will do so by licensing the BitFury chip, for example, not by buying expensive AM hardware. AM will have trouble competing.
All 3 of your points are counteracted by simply being the fastest to release the latest tech miners in bulk. The real risk is if miners stop buying on the whole, like if bitcoin becomes worth $20 or such. You think that chip die shrinks are going to maintain the current ratio between BTC spent per miner and coins per month mined? I'm afraid not: the move from GPU to ASIC produced the biggest one-time profit opportunity for mining we will ever see short of quantum computing. And it isn't as if the other ASIC companies aren't working on their own next-gen chips. Call me crazy, but even if they are working on next gen chips, who's to say they won't mine the shit out of those and ship just before they're not profitable, as was done this generation? At least AM realized this was the only logical scenario, embraced it, and created an everybody-wins situation. The others were naive and realized what must be done once they started acting rationally, or were evil right from the start. There's no reason to think this cycle won't repeat each generation. I think AM is a solid investment for some time to come, and the other company's mining hardware is a solid rape-scenario for the customers (as long as the producers continue acting rationally, and mine the shit out of their hardware before shipping). |
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just wanted to say that this site made me find god
had a weird dream, childhood home with family. shapes in the sky, disregarded it, whatever. later, the shapes were starting to become harder to ignore, the neighborhood was outside looking at it, everyone was in awe, and i realized what it was: the universe was a simulation being debugged in front out of our eyes. i was scared, and then at peace. well, if that's what the world is, then i'm glad to have been a part of it. then i wake up, stumble downstairs and take a piss.
i head to the computer to check on my bot. the very instant my monitor wakes up, i see the bet that breaks my bot happen. 18:50:00
that's rounded to the 0 on the second, after more than 15,000 *rounds* of bets all day long of this thing running.
how eerie is that?
edit: i wish i saved the bet # but i was too busy creeping everyone around me out with my silence
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guess i should claim my free buck while i still can
UID: 920
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Absolutely love the site. The interface seemed intimidating/confusing at first, but it grew on me very fast once I started tinkering.
The investment tab is lovely, and at first glance I didn't think it would scale well--then I realized as the bankroll grows, the incentive for whales to bet increases. Still, it will be interesting to see what happens if it gets absurdly large.
I wish my shares in satoshi dice were worth selling, because I'd feel a whole lot better with those coins in your bankroll.
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3. Insider trading already happened. This caused the price spike in the first place.
and quite possibly the sunday dumps the two weekends before last gotta get those multi-million dollar cashouts done before the exchange goes completely to shit and all |
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The thing that irks me is the surprise of it all. Shares are down and we finally get a good month, and this announcement is a bit of a kick in the nuts.
Why not do it gradually, take 10% everytime we get a good month?
Shouldn't take long due to the great abilities of the management and superb skills of the IT staff we are paying for, right?
Right?
Well the thing about suprises is that there is no way for me to announce something without it being a surprise upon announcement, no? How can I convey new information to the community without it being the first time they've heard it? I'm trying to give people a heads up, and make the announcement 2-3 weeks before the end of the month. Again, it could be done gradually... I'm just the "rip the bandaid off quickly" type of person. Really, this has been a massive free loan to SD shareholders. I'd like to end the loan because it's been bothering me since BTC went up 10x, so solving the issue with one month of earnings seems ideal. Again, 87% of those dividends would've been going to me and my partner anyway, so I won't be getting dividends this month either. Lots of questions. I'm not an expert, but isn't failing to disclose a giant liability like that tantamount to fraud? I'm probably confused, was it made clear during the IPO? I can't seem to find anything in the PDFs. What was to stop us from considering the reserve pool an asset of the company all along (was it formed with pre-public profits from SDICE? Is considering it a loan a new idea?) Is your spite for shareholders going to continue to grow, and one day you'll decide to collect interest on this loan? |
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I remember the point when SD started going downhill. It was in early February right when voorhees issued all those shares which halved the value of everyone's stock. Remember when he said the price would recover to the true value (which was about .0076/share at the time) within 2 days? Yeah, still waiting for that lol... I am so glad I sold this trash before it tanked. The asset, the site, and the management. What a joke.
Ahhhh early February... you mean right before BTC went up 10x? This is a question to shareholders who are very critical of me. Do you realize that when the BTC exchange rate goes up 10x, it means site earnings measured in USD must go up 10x as well in order to maintain the same share price? All else equal, the fact that the exchange rate went up 10x and the site earnings in BTC did not drop to 1/10th means the site is growing in real terms. The fact that such extreme BTC appreciation makes it nearly impossible for nominal share price to increase is unfortunate, but is this the fault of SD? You do realize that if measured in a more stable store of value like USD or gold, SD's earnings have consistently increased over time, despite hordes of competitors, despite PR smear campaigns, and despite now a US blockage. I understand people are upset because they haven't seen any visible movement (no new site, new features, etc.), and this is reasonable criticism that will only be put to rest once you see the new site. However, increasing site earnings by 10x over the course of 2-3 months in tandem with the exchange rate is an impossible task. The USD-measured valuation of the shares at IPO was reasonable, and the USD-measured valuation of the shares today is reasonable. Indeed, the USD-measured valuation of the shares since IPO has increased, not decreased. Yet... the BTC exchange rate went up 10x and so the nominal share price is down, and this is what people see, unfortunately. What I'm saying is, I think the criticism here is out of hand. The site is growing, it has avoided hacks of all shapes and sizes, it has navigated legal waters that threaten its very existence, it has maintained its position despite throngs of competitors, and it has done all of this with extremely low overhead. I do not take a salary from SD. I am paid dividends per share like every other shareholder here, and yet I front all money for development, I have thousands of personal BTC on zero-interest loan to SD, at risk every day, to provide depth for SD's betting pool which shareholders receive the benefit of for free. I've paid significant legal expense out of pocket, for which SD shareholders receives direct benefit for free. Still, some shareholders seem to think I've "shitted on them" because the share price hasn't increased nominally along with a 10x exchange rate increase. Tough crowd. I'm not asking for people to be happy with the fact that the nominal share price has fallen. I'm simply asking for people to consider the context in which this has occurred - crucially, a 10x increase in the exchange rate. Some understanding from your side might be helpful here. Shares were dumped at a bad time for shareholders, and people who invested during that time lost a great deal of opportunity cost; incidentally, that value was transferred to you, in a way, due to timing. Additionally, there's been no attempt to even pretend you want to redeem shareholders. Instead you're apparently asking for sympathy, poorly: "I have thousands of personal BTC [...]." Really? I'm told running a business is hard, but I'm not going to weep. In fact, I (as a shareholder) feel like you used me as a cash grab, intentionally or not, for the sin of believing in you. |
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ra2VfziaYanNHru1YQm2wR7vfMKfRAohDD
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I get a weird feeling in my gut that calling the organization opencoin and promising to open source/decentralize it increasingly with time was a way for some sinister force to manipulate big brains towards the dark side.
I hope it's just indigestion, though.
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I agree with OP and I challenge everyone to remember the mindset you had as an adolescent geek. Now, if suddenly that awesome cyberpunk-style digital currency you've been mining for months suddenly became a challenge or even illegal to get.. would that make you more, or less, motivated to get your hands on it? I think that rebellious part is still in there for many of us, particularly when it aligns with our principles.
Not to mention, full blown illegal sounds to me like it's right down Wall St.'s alley.
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I'd just like to interject for a moment. What you're referring to as Linux, is in fact, GNU/Linux, or as I've recently taken to calling it, GNU plus Linux. Linux is not an operating system unto itself, but rather another free component of a fully functioning GNU system made useful by the GNU corelibs, shell utilities and vital system components comprising a full OS as defined by POSIX.
Many computer users run a modified version of the GNU system every day, without realizing it. Through a peculiar turn of events, the version of GNU which is widely used today is often called Linux, and many of its users are not aware that it is basically the GNU system, developed by the GNU Project.
There really is a Linux, and these people are using it, but it is just a part of the system they use. Linux is the kernel: the program in the system that allocates the machine's resources to the other programs that you run. The kernel is an essential part of an operating system, but useless by itself; it can only function in the context of a complete operating system. Linux is normally used in combination with the GNU operating system: the whole system is basically GNU with Linux added, or GNU/Linux. All the so-called Linux distributions are really distributions of GNU/Linux.
don't mean to be a hater, but i think this kind of attitude is what scares the laymen from geeky stuff like bitcoin and linux and it may help your blood pressure to assume the GNU part when a person says "linux" unless she specifically says "linux kernel", even if it makes mr. stallman's beard turn ever more grey (with respect RMS). |
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Single digits folks. Prepare yourselves.
i'd like to think gox could face their own incompetence at that point, but the dunning-kruger effect is real and i'm guessing tux would make a wonderful case study. but really, if it's good enough to trade a half dozen magic cards a day, i'm sure it's probably good enough to trade $200,000,000 worth of cryptocurrency a month, without any help from people who have "solved" the problems that are being faced. |
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