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Hi AngelSky. We're not an investment fund...bASIC-Mining is a mining company and I have more than enough to do without morphing us into something we're not. I don't know anything at all about coinlenders, why should we should trust them? ...the exchange they're on? If we follow this course and these proposed investments go south(just as they've done with numerous other mining concerns) there's only one person that will be blamed for the lack of foresight. We invested in ASICMiner when we had next to zero mining revenue and I wasn't managing a minirig, four singles, four GPUs, three Avalons(with a fourth on the way), and all the power and cooling requirements that go along with dissipating 6500w.
Cheers.
This is exactly why I'm still long BASIC-MINING creativex. agreed wtb creativex calls let go of the guys ears good management is hard to find and here we have it. As a side note regarding SEC stupidity cant you simply reincorporate abroad say in Asia and relist/transfer shares. Honestly if the American government wants to over regulate confiscate etc there are many countries that still respect personal property and the entrepreneurial spirit. |
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Yikes and I was worried about posting earlier today and causing a panic sell when I saw major shares being unloaded before work :/
I'm really hoping the minirig owner is just trying to tank the stock, but honestly I feared this would happen across the board last night when the sec news was being spread around. It seems an odd occurrence to just be affecting bASIC IMHO. Speculative fud right here: I say it's either the minirig guy or a competing asset owner trying to kill confidence in your stock creativex.
Would you mind keeping us posted about future developments regarding sec/btct man? I'm at work and on the verge of cashing everything out except bASiC due to the large hit I've taken this week.
@ dam
The sec might go after assets within us borders, not just the exchanges.
Same here. Think listing on Havelock and moving the business to Canada would solve all the problems. At this stage thats pretty drastic but it might be worth considering when we know more details about Burnsides plans. HOLD ! Welcome to Canada, land of the free!...hey wasn't that the US once?  |
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Just curious, why daily divs rather than weekly, fortnightly or even monthly? Isn't it a bit of a pain, especially after the split (possibly more and more shareholders with small holdings)?
I would tend to agree daily divs are nice but, it is a lot of extra work. That time could be focused on finding us more asics =). |
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Do dividends still flow properly to the owner, or do they pay to BTCJam? Are they held in Escrow? If so can the loan be paid from the escrow?
Is collateral released as the loan progresses, or is it all locked away until repayment?
I have those same questions but i have not found an answer any where. I am very interested in using this but my shares are bonds that pay out daily so i want to know what happens to the dividends. Hello, The BTCTC API does not provide an automated way to calculate dividends, they will be sent to you at the end of the loan (as soon as they provide a way to calculate the dividends I can transfer then automatically, perhaps you can ask then for the feature too  ). (for now) The collateral is released at the end of the loan (but you made a good point). I had a loan that didn't fully fund (secured mtgox tied) so i canceled it . Shares were returned in a timely fashion but, I never received my dividends for the period. Elapsed time in escrow was 7 days or so ( 1 security pays a daily dividend). That aside I love the secured loan feature on btcjam ! |
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just curious, what are your plans for when the SEC gets an emergency injunction and seizes all your assets. you are an american issuing securities
maybe you should look into a reverse merger and list on the pink sheets, you have enough funds for that
you can't confirm that the people buying are americans but you should at least pretend that this isn't offered to americans Hi stslimited. I'm not so arrogant as to think I can slow the tireless march of Fascism. I expend my energies attempting to control the things within my sphere of influence. To the rest... Stercus Accidit +1 creativex well said. Regarding jurisdiction isn't btct registered in Belize? |
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I would hope if we went down the road of buying an existing Avalon escrow would be in the terms of sale. Just my opinion.
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buy a couple of blades to get the ball rolling??
I don't think that blades are the best investment for basic mining. If the price were to drop considerably it would be different. 50btc per unit will be hard to recoup with diminishing returns. The only decent value available right now is Avalon chips. I honestly think having a decent amount of btc on hand will reap great rewards once all the Avalon DIY projects get up and running. Multiple DIY projects should work towards bringing ASIC prices back down to reality. |
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Still no confirmation on batch#2? Also have you considered some Avalon chips? I know this doesn't spread company risk but, I believe that the slower to deliver asic companies will have to step up shipping or lose all market share to asicminer. Love the daily dividends btw!
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Love the PT thanks for making asicminer more accessible! Certainly makes it easier at 1/100 to invest mining proceeds.
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Any idea on mint cost +spot? Shipping? Looks like a helluva idea.  |
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Loved the list it will make a very good reference. Love the name btw |
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I tried mining btc on my laptop and gave that up fairly fast then switched to ltc my balance is chugging along. I also set up a gpu on another machine for ltc. The speed of the wallet is very nice. Updating my btc wallet is a daily chore . =/
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I've been reading posts for some time here. Not really knowledgeable enough to give an opinion yet so i just lurk and read =)
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I imagine this cuts down on some irritation for the mods.
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I suppose I should post more if I ever want to get out of newbie land.  |
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