25 coins x 6 blocks/hr x 24 hours x 365 days = 1,314,000 total btc mined in the entire universe per year. This on average will remain stable until the next halving. If AM maintains 20% of the total hash, they will receive 262,800 coins per year from mining. With 400,000 shares outstanding that breaks down to 0.707 coins per year per share before expenses.
262,800 / 400,000 = .657 |
|
|
|
localbitcoins et al are just meeting places, there's no longer any point in using and supporting them once you have a certain network of trusted peers who you can go to to exchange bitcoins at much better rates, without having to pay fees to a 3rd party. Also, they're acting as potential attack vectors for people interested in how much trading you are doing, just think about it: a government agency could definitely figure out who you are by going through the corresponding logs, unless you are only using tor and anonymous mobile phones, and only use cash to settle transactions.
Once you know 10-20 people who are able to exchange 1k-2k USD per day, there's no reason why you shouldn't be able to use them all, if you need to. Each of them will have a fraction of your capital.
This is where something like Bitmessage could come in handy. With the NSA monitoring all e-mail accounts and cell phones, we'll need to have smartphones with a Bitmessage app on them in order to be able to conduct private, cash-only trades with others in our local area. |
|
|
|
Does an investment need to have a dividend yield of over 100% per year to be worthwhile?
To you and I, no. To the majority of potential investors, for this type of investment the answer is going to be "Yes". Investing in someone they will never get to meet, see on TV, or have any traditional exposure to (CEO of a Fortune 500 company) will demand a much higher rate of return to offset this risk. Adding in that this opportunity exists within the infinitely small population of the CryptoCurrency Revolution, we are left with a very small pool of knowledgeable, risk tolerant investors who want to drive this future forward. Now, within the CryptoCurrency Revolution, we have several investors that enter into ASICMINER as their first real investment opportunity. Looking at P/E ratio's is terminology outside of their comfort and knowledge zone, making a full 100% return on their initial investment by years end is key, anything less than "I got it ALL back super quick, PLUS", isn't good enough. This shows a clear, fundamental misunderstanding of money and investments. The 9/5 world is centrally planned and controlled, including finance. You do not open yourselves up to opportunities like this in the 'real world' unless it is an investment that is fraudulently run, period. This is no doubt why many a investors initial reaction to AM is "This is a Ponzi".or "This cannot last, get in and out ASAP". Nothing in the 9/5 investment world has prepared them for this new paradigm. - Use your intelligence, research the investment and the industry it resides in. Compare that with your personal financial goals and your outlook for the World today, and do not look back. Well put. Some look at AM and say it's way overvalued. While others look at it and say the yield is too good to be true--it must be a scam. Crazy. |
|
|
|
So let's say - conservatively 3.1 BTC per share.  Your conservative revenue numbers are fantasyland. If AM mined 100% of the blockchain for an entire year (either by mining or through hardware sales priced to be premined for 1 year), that comes to only: (25*6*24*365.25)/400000 = 3.28725 BTC/share yearly revenue His estimate was for the next 4 years, not one year. 365.25 days is only one year. He would have to multiply by another 4. |
|
|
|
Surely AM will continue operating for more than one year!
If not, then I would agree that they are WAY OVERPRICED!!!  |
|
|
|
So let's say - conservatively 3.1 BTC per share. Your conservative revenue numbers are fantasyland. If AM mined 100% of the blockchain for an entire year (either by mining or by premining through hardware sales), that comes to only: (25*6*24*365.25)/400000 = 3.28725 BTC/share revenue Does an investment need to have a dividend yield of over 100% per year to be worthwhile? |
|
|
|
What if a shareholder dies and one of their descendants wants to sell the share or have the e-mail address changed?
I'm thinking it should be the shareholder's responsibility to ensure that the private key to his/her registered bitcoin address is transferred to his/her beneficiary upon death along with instructions on how to get a hold of friedcat so he can update his database once the beneficiary has proven they now control the bitcoin address that the shares are currently registered to. |
|
|
|
How many shares does ASICMiner keep for themselves, and how many are for the public?
From the OP: "Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares." |
|
|
|
Or a shareholder gets banned from Bitcointalk.org and doesn't have access to PM anymore?
This is where friedcat having a shareholder's e-mail address on file comes in. It would be an alternative means of informing friedcat that you want to transfer shares. |
|
|
|
3. We are staying right around 20% of the network, and I don't expect that to change much in the future, so mining revenue will probably be fairly constant at .015 for the foreseeable future.
This will be the key to ASICMiner holding it's value. Maintaining 20% of the network hash rate while it's rising in a parabolic fashion. |
|
|
|
Also, how does friedcat validate that someone owns shares when they hold an auction here on the forum if he doesn't track usernames of shareholders?
By signing a message from the address in the database. Sure, that's how it could (and maybe should) be done, but according to TAT's escrow agreement from my last share purchase: "Friedcat does not normally require signing a message from the Seller's shareholding wallet, but you are welcome to do so when requesting the transfer." This seems to indicate that he is tracking the usernames of current shareholders and if he receives a PM from that username requesting that a number of shares be transferred to a different bitcoin address, then he complies. |
|
|
|
To initiate a transfer, do I just PM friedcat with prof of key ownership? The reason I ask is because the shares were bought privately through a irl friend so I did nothing other than providing a key for dividends. Thank you
Hmmm... This sounds like a peculiar way to buy shares. Did you buy these shares before you even had an account at bitcointalk.org? I was under the impression that friedcat maintained a shareholder database that included the bitcointalk.org usernames for all of the directly owned shares as well as their e-mail address. I think that your impression is wrong, the only thing that's in the database afaik: - e-mail - bitcoin address - amount of shares I've had shares transferred to me with just a PM from the previous owner to friedcat. What's the purpose of collecting e-mail addresses of the new owner if shares can be transferred with a PM? Seems to me that friedcat is willing to accept a PM or an e-mail from a shareholder in order to complete a transfer. Also, how does friedcat validate that someone owns shares when they hold an auction here on the forum if he doesn't track usernames of shareholders? |
|
|
|
To initiate a transfer, do I just PM friedcat with prof of key ownership? The reason I ask is because the shares were bought privately through a irl friend so I did nothing other than providing a key for dividends. Thank you
Hmmm... This sounds like a peculiar way to buy shares. Did you buy these shares before you even had an account at bitcointalk.org? I was under the impression that friedcat maintained a shareholder database that included the bitcointalk.org usernames for all of the directly owned shares as well as their e-mail address. |
|
|
|
|
Why don't you just apologize, admit you were wrong, pay what you owe, and then nicely ask those that left the negative feedback to delete or modify their comments. Everyone that left feedback has the ability to delete it.
|
|
|
|
This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrpyt-Jane.
Why not just create a new competing currency and let the free market choose? Someone already did - it's called YACoin. There you go OP. Just convert all of your Bitcoins to YACoins and start mining them. |
|
|
|
This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrpyt-Jane.
Why not just create a new competing currency and let the free market choose? |
|
|
|
|
I can confirm the 25 shares have been successfully transferred to me and the dividend payment has been received.
Thanks r3demon for the well-run auction. I'd be happy to do business with you again in the future if the opportunity arises.
|
|
|
|
I agree with a scammer tag for him. He shouldn't be promising to pay out on bets, only to renig on that promise when someone calls him a bad name. You can dislike someone all you want, but you still have to hold up your end of any deals you make.
I agree. Like when you sell ~16 BTC to someone with perfect reputation, and they later decide they don't approve of how you may have gained those bitcoins. Then they cancel the wire and cost you $1600. Scammers. D::::::: You were trying to sell coins that were acquired through fraud and failed to inform the buyer of this. No comparison. |
|
|
|
Secondly, why are interest rates so high? My Australian bank account pays 3.10% p.a. in comparison. How does inflation affect the BTC interest rate?
Because the supply of bitcoins available to be loaned out is relatively low and the demand to borrow them is relatively high compared to fiat. (Or, put another way, lots of people want to borrow bitcoins, but few people want to lend bitcoins.) Supply and demand determine prices. An interest rate is just a way to express the price of borrowing (or renting) money. If more people make deposits and fewer people take out loans, then the interest rates will drop. |
|
|
|
|
Show Posts
:
