As much as I want to, I will do so, after I get my loans paid off first.

If I understand it right, Inaba is intended to carry out a quite fair plan: the shareholders is and will be getting dividend payment until ASIC unit out ( since we all know quite well about the punctuality of BFL this period may be longer than expected). When the ASIC out, the "company" pay Inaba shares to upgrade to ASIC. Then, the hash rate per share maybe 10x as it is today.

Cool.

If you don't mind me asking. How does this work? Buy ASIC.COOP shares, and each share are per 100 Mhash/s? That's when the product become available.

Asset has been launched.

You know, you could have just asked for that in an email, there wasn't any need to start a thread over it.

Mine was submitted 6 days before, and I requested the trading to start today. My IPO description is very simple and clear, everybody can read it.

Simple, his IPO was submitted over 3 days prior to the IPO date.

There are a couple of issues to this.

Firstly, I do tend to approve new assets from existing asset issuers who write clear, easy to understand contracts. Frequently someone who is just starting out submits an asset and I have to ask them to revise the contract because it's either unclear or lacking, sometimes this happens numerous times with going back and forth and so on. There are a number of issuers (Inaba is one) who tend to write very clear contracts.

The best thing to do when creating a new asset is to make sure that the contract is as simple and clear as possible.

Secondly, all assets must wait the minimum time period of at least 3 days before their asset can IPO. Usually this is 3 days from submission, but if enough time has passed then I add more. Not to delay the IPO for the sake of delaying but to allow enough time for them to be on the IPO page for people to see.

Usually an asset that IPO's almost right away doesn't do well, and it's in my AND GLBSE's best interest for as many IPO's to be successful as possible.

Third I don't favor any assets on GLBSE, as a policy I don't trade ANY assets on GLBSE, I don't buy or sell shares (unless testing the system, like earlier today, and then it's only one or two cheap ones). There are a large number of competing assets on GLBSE, I and GLBSE has no stake in any of them either personally or professionally. Our interest is in all assets succeeding as we make money from fees.

Fourth, sometimes I don't get around to approving assets in the best time. I like to try and have them out on the IPO page ASAP but sometimes I'm just tied up.

Finally, I/GLBSE was not contacted by Inaba about this asset prior to it being created, we were not warned nor were any special favors asked. Apart from his use of GLBSE as an asset issuer I don't have any relationship with Inaba.

Besides, the bitcoin economy is growing so quickly there is plenty of room for competing operations in certain areas. A rising tide floats all boats.

Nefario

So I'm interested in throwing my hat in the ring here, but I've got a question first.

Who are you?

This is a huge investment. This is a new car, or a condo in Denver. If the coop is going to have you handling the physical possession of the rig, the members need to know who they're giving that trust. If necessary, they need to know whose door the police should break down to get their money back.

which means that the bond holders will have the dividend through future months before ASIC come out, plus some residual value for the option to pay some money upgrage the contract? Wow. since the ASIC seems far away, it's still good investment in my eye.

Waiting for you to crash into my bidding orders.

YABMC lost 40% price in a single week from 0.25 to 0.15. let us see how north this bounce will go.

ciuciu, how much reserves do you have if you lose the bet? ( of course, you might win at last but there is risk you will be the one lose money, right?)

I find your this post interesting. You created a GLBSE asset, but you're asking donations for GLBSE fees. It's not likely that you cannot afford to pay the GLBSE fee, but it seems that this money is still big enough to raise up a donation..

https://bitcointalk.org/index.php?topic=88008.msg967700#msg967700


So, just keep in mind the bond for borrowing the shares to ciuciu.

Yes, in 6 months. but I don't think waiting for it while paying 150% annual interest rate is for your best interest.

And the lenders who earn this interest actually take as much risks as any where else someone should have to take to earn that much.


There are still lots of GPU miners. when the ASIC joins in, the GPU miners will leave the mining business first, which will ease the steps of difficulty increase at the very beginning stage, like you said, "test" stage.

the difficulty adjust for every 2 weeks. if the BFL test the ASIC for one week, the production of the existing mining rigs won't be influenced very much.


ASIC is realistic but with high barrier. One should take lots of money to develop it. That's why some of the really early investors of bitcoin, who should have made lots of money, have to fund their bitcoin R&D through pre-payment and equity financing.

A secret ASIC R&D team? less than 1% possible. So, I take the risk buy in the dip you created. what's your evaluation of the possibility that there is a secret ASIC R&D team and they can do faster job than BFL?



You are not risk on the lending section with the money you get from selling the shares borrowed from people, are you?

@Sukrim

Ciuciu is going to the right direction but with a dangerous car.

Generally speaking the value of mining bond is at the risk of the ASIC and BTC appreciation. However, I don't think the profit room is enough for him to pay the 150% annual interest rate to short.

1) ASIC is to come out, however, will it be so fast as BFL claim(2010-10)? we all know the punctuality of BFL. I strongly believe that BFL will have to collect enough prepayments to seriously start to do the R&D job. So I guess we will be lucky to see some ASIC at the end of this year.

2) BTC appreciation: well, just look at the bidding and asking wall of every bitcoin exchange. the price is now sticking around.


So, is the mining bond, for example, GIGAMING, should be traded at 0.8BTC right time right now? If You buy GIGAMING shares and lend it to ciuciu, it will spend you 25- weeks to collect enough dividend from ciuciu to cover your cost. And now, we find that gigavps, our lovely handsome gigavps, have decided that he will chose to do some really "fair" thing but not only acting according to the contract itself: he will upgrade the contract once the ASIC comes out! Now, why ciuciu is keeping short GIGAMING?

The YABMC has not given any similar promise yet, as they have the same 1) and 2) doubts like I have. However, the delay of the ASIC + the  choppy market of bitcoin + the 150% dividend will put ciuciu in danger.

So, I think ciuciu is at the risk of losing this bet.

Excuse me, ciuciu, I'm at your counterparty of this bet. I have bought some shares and I'm speculating on that there will be a fast bounce/recovery of this negative bubble which is going to broke. I have to present my reasoning to the participants.

I believe that Ciuciu has to buy the shares back. And I believe he is intended to buy it back very soon. If he is planning to hold the shares to the end of the mining bond, why would not he issue some mining bond contract and sell it at fair market value? This saves much time and money for him. Of course, how much cash flow it will be for the total life of the bond, ciuciu is not sure about.

What he is sure about is that this thread itself, the short action, will cause herding effect and panic selling of the bond holders. This is intended to be a short term action.


For the lenders of ciuciu, if you don't have ciuciu place margin bitcoin with you but just words and reputation, there will be the possibility that ciuciu lose too much that he cannot pay back all of your money. It's not that ciuciu is going to run away, but that he is there and willing to be responsible but without the permission of MR. Market.