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1101
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Economy / Securities / Re: [WTB] 1 - 2 ASIC Miner shares?
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on: June 13, 2013, 02:30:52 PM
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I recommend buying PT shares, especially for quantities less than 10.
There are 5 PTs:
1 on HavelockInvestments.com
2 on BitFunder.com
2 on BTCT.co
So if I buy 100 of those PT shares, that will equate to 1 direct share, is there any way that I can convert that to a direct share? The fractional shares are not directly convertible, you'd need to sell them and buy whole shares, or buy whole shares to start with, if that is your intent. |
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1104
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Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
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on: June 13, 2013, 08:28:09 AM
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Friedcat,
A team of us shareholders has taken the time to collect and simplify the most popular questions people have for you and ASICMINER. I am sending these questions to you at Jutarul's suggestion, and on behalf of all ASICMINER shareholders that took our poll.
I am only going to send 3 questions to you, in order to keep things simple, and to hopefully maintain this line of communication in the future. We understand that you might not be able to fully answer some things due to competition, but any amount of info will be plenty for us!
If you can take the time to answer, feel free to post your answers in your main ASICMINER thread, or respond to me directly and I will copy your answers verbatim.
Thank you so much for your consideration, here are the questions:
1. Can you tell us more about the next generation of ASIC chips? When should we expect them, and what specs might they achieve?
2. Does ASICMINER/Bitfountain have any legal risks by doing business in China? Are cryptocurrencies or mining of virtual currencies allowed there?
3. What contingency plan do you have in place if Friedcat or other important employees become seriously ill or otherwise unavailable as a resource to ASICMINER? OFFICIAL RESPONSE FROM FRIEDCATHi ThickAsThieves, 1. They will arrive at October as their earliest. The specs are unknown (only simulation results at this moment), but surely they will be much better than all available similar products in the market now. 2. Cryptocurrencies or mining of virtual currencies are OK. Exchanging them for fiat is less OK but the legal risk is mostly on the exchange operators' side. However as everyone knows, the policy in China is never predictable so there is indeed risks in the future. We have been considering and coping with this uncertainty from the day our chips passed the test and are on the start of building offshore company structures. 3. The access to company wallet is backed up and we back up shareholder information frequently. Also the division of work in Bitfountain is not yet so refined that there are no replaceable positions. We have already left our startup stage so it's become more organized, therefore backup employees are becoming more important and in our range of plan. Best regards, friedcat |
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1105
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Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
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on: June 13, 2013, 02:42:14 AM
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Friedcat,
A team of us shareholders has taken the time to collect and simplify the most popular questions people have for you and ASICMINER. I am sending these questions to you at Jutarul's suggestion, and on behalf of all ASICMINER shareholders that took our poll.
I am only going to send 3 questions to you, in order to keep things simple, and to hopefully maintain this line of communication in the future. We understand that you might not be able to fully answer some things due to competition, but any amount of info will be plenty for us!
If you can take the time to answer, feel free to post your answers in your main ASICMINER thread, or respond to me directly and I will copy your answers verbatim.
Thank you so much for your consideration, here are the questions:
1. Can you tell us more about the next generation of ASIC chips? When should we expect them, and what specs might they achieve?
2. Does ASICMINER/Bitfountain have any legal risks by doing business in China? Are cryptocurrencies or mining of virtual currencies allowed there?
3. What contingency plan do you have in place if Friedcat or other important employees become seriously ill or otherwise unavailable as a resource to ASICMINER? |
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1106
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Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
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on: June 13, 2013, 01:52:02 AM
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I'm trying to see this in its proper context. We know that BFL went from shipping 1 or 2 5GH/s miners to shipping them in quantity in about 2 months. It's reasonable to expect the same for these, if not a bit longer, due to the increased complexity of the device (more things can go wrong with 16 chips instead of 2 and a much bigger board). If AM is going to have competition I'm not too upset that these guys are part of it. I think that whatever BFL can throw out of the factory, AM will cope, based on past experience. I reckon if you ordered a big single today it would still be 4-5 months before you'd see it. It's up to AM to show again that they are the kings of bringing new hardware to market with the instant-style speed.
3. Please be aware that the payment processing and shipping will be less prioritized than the remaining orders in the third auction. It may be 1-2 days less timely before the third auction's shipping is completed. After that it will resume the instant-style speed.
While I think you overestimate how slowly BFL will ship from here, I still believe AM won't have trouble staying a step ahead of them. |
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1107
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Economy / Securities / Re: [BTC-TC] TAT.ASICMINER New Micro-share Passthrough!
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on: June 12, 2013, 10:34:41 PM
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Does the reinvest feature work (I have enabled it and had enough dividends)? I should have been able to reinvest, but it didn't (or maybe it was waiting for the dividend to complete for everyone?).
I assume it works, but I have not used it before :/ It's possible that at the time it triggered, there were no shares cheap enough to fit your settings... |
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1108
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Economy / Securities / Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx
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on: June 12, 2013, 10:33:43 PM
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I think the point here is that there is no loan at all. Erik has been compensated fairly via IPO and the shares he holds, and never noted any desire to loan funds to SDICE in the past.
I wonder if there are any other surprise liabilities SDICE has...
Moreover, management can't really pass responsibility for its own actions to the shareholders, because the shareholders have no control whatsoever. If three months down the road Erik comes and says "hey, we had a break-in, the funds are gone" then how exactly can Random Q Investor verify this claim, make sure it's not something like Vircurex pulled recently? And if Erik never comes and says thus, what's the point of the entire maneuver? In all circumstances they with the ability to prevent losses are they who must be responsible for the losses. That such losses are not passed to shareholders was (near enough) explicitly clarified by Erik during the IPO: b) Actually, the financial statements are better than "audited." All the information is mathematically verifiable using the blockchain, which is public. You don't have to trust any auditor, you can audit yourself any time of day to see exactly what SatoshiDICE is making (and some have done that in other threads on this forum).
If it can't be verified by the block-chain then it can't be in the financial statements - and so can't be passed to investors (by deductions when calculating net profit). If your claimed reason for no auditing is that it can already be done then: 1. You don't need to have audits. 2. You can't charge anything which investors can't verify themselves via the block-chain. Those two points go hand-in-hand : if you want #1 you have to provide #2 (and lose the ability to pass many costs on). A burglary (and for that matter a theft from a BTC wallet) wouldn't be allowed to be deducted anyway - as they aren't marketing or development costs: the only two categories of deduction allowed when calculating net profits. What about if Erik just uses the secret key to win himself 200btc per day for a month, how do we audit that? |
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1109
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Economy / Securities / Re: Where can I find Market Cap Data for BTC Securities?
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on: June 12, 2013, 09:47:34 PM
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I'm in the middle of a legal research project that involves assessing risk of enforcement against the businesses selling unregistered, restricted securities on this board and stock exchanges like Bitfunder, BTC-TC, etc.
Any idea where can I find a breakdown of each securities' market cap, or at least a reliable list of the total shares outstanding?
Thanks in advance.
On btc-tc it's on each individual security page's trade tab, right up at the top. Would love to know what you come up with. My bad! |
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1112
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Economy / Securities / Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx
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on: June 12, 2013, 09:36:26 PM
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Rather than getting our backs up, perhaps we can spend some time discussing the repayment plan and put this to bed in a professional manner?
Agree, lets repay the loan over the next 10 months or so. I think the point here is that there is no loan at all. Erik has been compensated fairly via IPO and the shares he holds, and never noted any desire to loan funds to SDICE in the past. I wonder if there are any other surprise liabilities SDICE has... |
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1116
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Economy / Securities / Re: [BTC-TC] Community Exchange w/ Options, DRIP, 2FA, API, CSV, etc.
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on: June 12, 2013, 05:22:29 PM
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Noob question:
I purchased 10 ASICMINER-PT shares on BTC-TC last week and logged on this morning eager to see how much of a dividend was earned, however I do not see that any dividend was credited to my account. Will somebody please explain how and when ASICMINER-PT dividends are distributed?
Have you read the asset description? It's probably detailed in there. Fair enough. I reviewed the asset and found this: Payment of dividends is to be made within 2 weeks of their issuance from ASICMINER. Dividend payments made more than 72 hours after their issuance from ASICMINER will be paid 100% of the original ASICMINER dividend. I guess I'll just have to wait a couple of days. Heh, I had no idea they gave themselves so much padding. The second line seems odd considering they don't even charge fees (currently?). |
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1117
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Economy / Securities / Re: [BTC-TC] TAT.ASICMINER New Micro-share Passthrough!
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on: June 12, 2013, 05:16:51 PM
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Looks like the dividend is stalled in the system. I'm not gonna mess with it this time though, I've learned my lesson...
Not stalled for everyone, I received it at 2013-06-12 18:09:10 Haven't reinvested it yet, not touching anything, just in case. Ditto. Yep it appears to be processing just fine, albeit slowly. |
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1118
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Economy / Securities / Re: [BTC-TC] Community Exchange w/ Options, DRIP, 2FA, API, CSV, etc.
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on: June 12, 2013, 05:11:40 PM
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Noob question:
I purchased 10 ASICMINER-PT shares on BTC-TC last week and logged on this morning eager to see how much of a dividend was earned, however I do not see that any dividend was credited to my account. Will somebody please explain how and when ASICMINER-PT dividends are distributed?
Have you read the asset description? It's probably detailed in there. |
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1119
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Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
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on: June 12, 2013, 04:18:01 PM
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Quick update -- 87 responses so far. Keep 'em coming!
I don't know what exactly should we expect from the ranking? There are few questions and simply answering all of them shouldn't be that long... EDIT: Btw, all of them are interesting, good job guys! The ranking will allow us to determine which questions are most important to the people who voted (shareholders, presumably.) While there are only a few questions, we surmised that submitting the top two or three would give us the highest likelihood of garnering a response from ASICMINER. Ian +1 I don't want to make this a chore for Friedcat, just some good PR with shareholders  How about you add a verification process, Easy and I can help you with the verification code. add 4 boxes: Shares Address: Proof Transaction ID: Random message: (generated random message) Signature: I can help automate the verification process through minor changes to some code that I have written recently. we can also automate it to give weight for a submission depending on how many shares a voter have. or is it overkill :S I appreciate the offer, but I think we want this to be easy to use. It's okay if people really feel the need to game this, all of the questions are worth asking anyway. Really, we almost didn't even do a poll, we could just as easily debate which questions to ask among the 4 of us  |
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