aren't the dividends due already?

I did use the word expedited but not emergency. I dont think Gox refers to it as emergency either. At the time I placed my order, I was told the queue for expedited manual withdrawals would take 2 weeks to clear: it was precise to the very day.

You could be right: maybe gox takes the 5% haircut to cover losses. All I know is, the current regular withdrawal is broken (possibly intentionally but no one knows for sure)and finally I got a large sum of money on the promised timeline for once, and fee or no, at least now people know its a proper workable option. I'm sharing it here because I don't know how much longer this window will remain open. If there was serious money at stake I'm sure this information will be useful to some users.

I'm just happy to get my money. 5% is a small fee as opposed to 10% of the bitstamp exit strategy or 100% of never getting your money out. I've made enough from investing in bitcoin, I don't mind sacrificing a little money to put the cash in my hand

Mt Gox has redeemed itself in my eyes. I waited 3 months for an earlier regular swift withdrawal. Cancelled it and requested expedited 5% fee withdrawal instead. Today, about 2 weeks later, just like they promised, he money hit my account. 5 figure USD amount

Today is the 2 month anniversary of my first fiat withdrawal. Still not happening. I'm seriously thinking of taking up the 5% haircut manual withdrawal option. If anyone has a solid reason for me not doing it, I'd like to hear about it

I see what you did there.

3 months not an issue for me. Will update this thread when the magic finally happens

Not sure if trolling...or sarcastic

Sorry, did I miss the memo? Last I heard, withdrawals are still working, just that there is a massive time delay.

Your strategy makes sense only if withdrawals aren't working at all, and/or if I want the money now, and am willing to take a 10% haircut for the privilege. I definitely do not need the money now, and last I heard, Gox still processes withdrawals, albeit at a slower rate.

Anyone here made a SWIFT wire transfer USD withdrawal to a non-US country recently and got their money, if so how long did it take?

I have made one 10th July - $2K USD just to see how long it would take. Been a month and nothing yet. I sent them an email a few days back asking what's up and got the standard generic cut-copy-paste response.

I've now given up trying to guesstimate withdrawal time and just queued up another 3 withdrawals, each ranging from 5-8K USD. The way I see it, I might as well get in the queue now, seeing as Gox cancels a fiat withdrawal request within hours should you change your mind.

I will update if I ever see my money

Edit: Oh, and BTW, fuck Gox

So how much % of profits are being set aside for expenses and expansion? Are 100% of profits payable to shareholders or is it some other figure?this needs to be made clear. I may have missed it but i see no mention anywhere of this in your IPO text.

It will be hard for a prudent investor to accept both a variable % of profits payable as dividends and potentially unlimited share dilution.


Let's be honest: your business exists to make a profit, not to look after the interests of shareholders who are late to the party. The free market will take care of share prices and putting a cap on the future price of your shares with potentially unlimited share dilution hanging over everyone's head will punish the early investors who chose to trust you before you established a trustworthy reputation. Not to mention such a clause has the potential to make your business a lot of money as well, earned at the expense of early shareholders.

I disagree with your philosophy on dilution but I have said my peace and I'll leave it to the rest to voice their opinion.

Look forward to seeing your future revision

Aiwill, ive had a look at your amendment



Regarding this:


I am deeply suspicious. Anyway, continuing,


"
1,000,000 shares per half year is infinite dilution on an infinite time frame. This is not acceptable.


1/10 every six months is 10/10 in 5 years.


This is the classic definition on unwanted share dilution, and why people don't like it

Tl;dr

Issuable share capital needs to be limited and controllable by existing shareholders. In my opinion, allowing infinite share dilution by proclamation is totally unacceptable.

If you need funds for future development, then take a fixed percentage of profits, say 10%, for that and issue the remaining profits out as dividends and set a permanent fixed limit on the total number of shares. You don't generate funding by wantonly diluting existing share holder capital.

Lophie,

Based on tracking the AM price the last month, it seems buyers and holders of AM stock are now comfortable with a 25% dividend yield with some additives or subtractions for forward earnings potential.

With dividend around 0.024 holding steady, and a safe bet to expect going forward, this yield supports a fair valuation of 4.992 btc per share. Thats not too far away from where we are now.

If we use the average of the last 4 dividends (0.02275) to refine the estimates, fair valuation sits just above 4.7. Until the recent flash crash thats exactly where the share price has been

As AM continues to (hopefully) deliver higher dividends, and investor confidence grows thereby supporting lower acceptable dividend yields given the added feeling of security holding AM shares , we can expect this to support even higher share prices than what we're seeing now.

For now i personally value AM between 4.2-5btc per share. Anything below this range is a great buy, anything above is overvalued. If investor risk tolerance goes up and/or dividends hold at an average 0.03 (i consider this combination as a reasonable 'absolute best case scenario' without exuberance) i'd shift valuation to somewhere between 6-7 btc per share. Thats a solid 20-30% possible capital gain on current prices whilst generating a yield that will almost 'pay off' the total invested capital before the next block reward halving. Barring AM dropping the ball on keeping up with the competition or a severe depression in btc/usd i expect buying pressure to continue

This section concerns me:

"Each share has the same dividends and there will be no more additional shares to be brought in unless a proclamation in advance, which, mostly likely,caused by a big movement/progress/project(examples:new generation of 40nm chips / full custom design systems / new large-scale hashrate deployment ). To protect the interests of shareholders,BTCGARDEN will never add more than 1,000,000 shares per half year."

It reeks of unilateral, unrestrained share dilution.

We need to see a hard limit on issued share capital and any changes beyond this limit must only be allowable with at least a minimum of 51% (preferably higher) acceptance by current shareholders.

However, theres this:

"Initially,each 1 share of BTCGARDEN represents to 1/10,000,000th of the dividends of the whole 10,000,000 shares."

So a maximum issuance of 10,000,000 shares then? With 2,400,000 issued initially?

Does anyone actually hold the unissued 7,600,000 shares at IPO? If not, then why are dividends issued on unissued share capital? Who enjoys these dividends?

If no one owns the shares, why then are dividends paid on 10,000,000 shares and not 2,400,000?

If these shares are already issued and owned, how come they can be issued at will (with proclamation in advance) at a rate no greater than 1,000,000 per 6 months?

Is the business owner intentionally issuing only 24% of share capital with a view to selling the remaining 76% over time to enrichen himself at the expense of the present shareholders? How many would be willing to buy shares in a company knowing they could be diluted 3 to 1 at any time in future, with no recourse?

There are inconsistencies here that require clarification

I highly doubt you're going to be able to walk into a shop anywhere in Singapore and buy an ASIC or FPGA

Personally if I were you I'd buy BTC on Gox or some other exchange (they are all funded by bank transfer) and use the BTC to buy whatever mining equipment you want in these forums. Do your homework though, and don't get scammed.

After all the whole point of BTC is to bypass using credit cards

In case anyone is wondering where the OP's title came from:


My guess is simply a 3 way split between

1) those who receive their coins and immediately sell them...causing a short term downward price spike - negative for price

2) those who receive their coins and immediately buy other stock with stable returns (ASICminer seems top choice in this regard)...causing a short term spike in AM share price - negative for price

3) those who take their coins and do nothing - neutral for price

Being as objective as I possibly can, I do not see anything but a price drop on the horizon. The severity of the price drop will depend on the proportion of 1,2, and 3 out of the 150K BTC SD sales proceeds. I should also add that if the price drop is severe enough, it could trigger another bear market selloff like the one that took us to 66...only this time it may go lower

If we can hang steady at any price level for at least a month (give or take a week) I'll finally be able to cover my short with a clear conscience. But there is a nagging voice in my head we only see medium term stability near an all time low in the death throes of capitulation. My 70% portfolio still in BTC and not fiat hopes that I am wrong

Sorry but I LOLed pretty hard

Fun as it would be to believe it to be true...I think the jury is not out on whats gonna happen next

Thin bids tell me that the market is experiencing buyer fatigue though....mr whale may decide this is as high as the price gets for the short term and start dumping?

It'll be interesting to see how west coast americans react to this as they wake up.

Selloff to 93 now....this bullrun may continue yet, but if we drop below 90 its not going to be pretty

Just realised as well that these are low volume sells. Hopefully the big players don't start panic selling. One big sell can easily plunge the price back to mid 80s

There are almost insignificant 'major' walls at 70 and 80 and thats pretty much it

Having said that...I do not think a whale is dumb enough to dump big amounts of coins into thin bids like that. Unless:

1) He was trying to cause a panic

2) He felt that buying pressure is well and truly exhausted

3) He felt that a rally is imminent out of the question without his intervention

I'll let the walls speak for themselves

Quoting my post from the last page. Be careful out there guys