Smartest thing said here all week.

Funny, there is no shortage of people here willing to give advice.

I'm not buying or selling any bitcoins at all this week. I'm a buy and hold investor.

I think TA is BS actually, I just was asking to see what people would say. The market has been pretty boring this week.

No, I don't need a picture, if others do they can post one.

I just want to know if it is going up or not.

Looks like a triangle/wedge thing with the price the past week, right?

Doesn't that mean the price is supposed to start soaring up soon?

I'm not going to waste my time editing a chart with MS Paint lines drawn over it. It's obvious to see.

That's well over a hundred years from now so it's impossible to say.

But, if bitcoin lasts another 100+ years it will be mean it actually has gone at least somewhat mainstream. That means there will be far more transactions than there are today and blocks are likely to be much more larger. Larger blocks mean more transaction fees.

Wow, thanks Franktank.

I actually bought 25 shares yesterday and likely will buy more now.

One thing I don't understand is that on bitfunder it says there are 400,000 shares total but roughly 19,000 shares issued.

Are the rest of the shares (not issued) held by the owners (or "real" shareholders, i.e. not passthrough shares)? Or do they not exist yet.

In other words, if more shares are issued won't that decrease the dividend per share?

What causes them to issue more shares? How do I know they won't simply issue more shares and sell them diluting the value of the shares I hold and causing the dividend to decrease.

I need to understand more about how bitfunder works, I guess, but I can't find this information anywhere.

Where did you find out about this weeks dividend already?

Not 20 million, try 200 million or more.

$30k for a system that will save you $1500 per year (at current electric prices in New York).

I don't see how that makes sense at all.

Will the system even last the 20 years it will take to pay itself off?

This a bad idea.

Naming bitcoin units is as stupid as the Weather Channel naming winter storms and just about as consistent and enforceable.

We don't need anything to detract from the fact it is bitcoin and not some other currency (either virtual or not).

There is nothing wrong with centiBTC, millBTC, etc. Even Americans can understand that as we know what centimeters are and what milliliters are.

who is Gavin??

What does the number 5340 have to do with it?

75BTC is a very good deal. I'd be interested.

Don't you have a yubikey?

Right now ASICMiner shares are at about 1.30 bitcoins per share on bitfunder.

Here are the pros and cons as I see it.

Pros:

Last week they returned a 0.0073 bitcoin per share dividend.

On an annual basis that is a 29.1% return.

This is 10 times better than most blue chip stocks that return dividends:

IBM returns ~2% per share, Costco returns about 3%. Pepsico pays 2.7%.

Assuming everything stays the same, you'll make back your investment in about 3 1/2 years from dividends alone.

ASICMiner claims to be adding (or adding up to?) 50 terahashes/sec in the coming month(s). They've already shown they have working ASIC miners as they are currently mining at about 8-10 thashes/sec (not sure of this number).

They've also been show to be trustworthy and claim to reinvest 50% of their profits in more mining hardware.

Given that Avalon and BFL have both been experiencing delays and neither has given any word as to when they'll actually ship (it could be weeks, months... who knows?) ASICMiner shares  seem to be a good hedge on these other companies falling through. Dividends should definitely be increasing in the coming weeks or even months.

Finally, for many of us who are invested in bitcoin to buy and hold, it is a good way to have your bitcoins make money for you without actually spending them.

Cons:

It can't last forever.

Eventually Avalon will ship and it is most likely BFL will ship too. When BFL ships their 60,00 plus orders and Avalon their 500,000 (?) chips, difficulty will go through the roof, into the hundreds of millions, likely approaching a billion. ASICMiner's percentage share will drop as likely will their dividend even as they continue to put more money into mining hardware. As this happens, the price of their shares will drop too, likely below what they are now, especially if more ASIC mining companies decide to get in on the game.

The big question is when will this happen, and can ASICMiner keep enough of a market share to justify their share price. If they can keep even a small fraction of the dividen they have going now, I would say yes. Even a 10% dividend return would be great. But if the market gets flooded with ASICs and miners are back to making just above their electricity costs, I'd say it's not a good risk.


What do other people out there think?

I was just about to put in an order for 128 chips too .

Those of you in the US who are still planning on buying, what other options are you looking at?

Whens the chinese money gonna get here?

price has been stable all day :-/

Maybe someone spilled Mountain Dew on the rest of the wafer?

Yes.

don't people recognize satire when they see it anymore?

in the 50's before govt regulation, satire was everywhere.