btt

[AngelSky]

maybe you can reassure your shareholders and try to get a plan of what could come next ?

[creativex]

maybe you can reassure your shareholders and try to get a plan of what could come next ?

I don't have any more information about what will happen on the exchange than others have. I can assure virtual shareholders that I'll continue to do my job to the best of my abilities and that I'll continue to make decisions intended to protect and increase shareholder value. Obviously there are forces at work here that are beyond my control.

[AngelSky]

I don't have any more information about what will happen on the exchange than others have. I can assure virtual shareholders that I'll continue to do my job to the best of my abilities and that I'll continue to make decisions intended to protect and increase shareholder value. Obviously there are forces at work here that are beyond my control.

We all know here that you are doing your best to protect and increase shareholder value. What I'm suggesting is two or three things.

1) Make better announcements when something happens (new rig, new all-time-high, ...). I'm not asking you to make some Apple-like videos to communicate but small efforts here could give us some good rewards.
2) Even if things are beyond your control, make plans about what could happen. Per example, you are actually running BM under your own name. You can start asking yourself if it would be necessary to create a registred company to run your business and where you could locate your company to minimize the risks of some political changes that will come. Possibility to relocate your machines or not. etc..
3) Get some legal advices of what is the best for you at the moment and for the future (what we can expect).

I'm saying that because it seems to be always the same story. I think anticipation is the key to stay alive here.

What do you think ?

Patrick

[creativex]

I don't have any more information about what will happen on the exchange than others have. I can assure virtual shareholders that I'll continue to do my job to the best of my abilities and that I'll continue to make decisions intended to protect and increase shareholder value. Obviously there are forces at work here that are beyond my control.

We all know here that you are doing your best to protect and increase shareholder value. What I'm suggesting is two or three things.

1) Make better announcements when something happens (new rig, new all-time-high, ...). I'm not asking you to make some Apple-like videos to communicate but small efforts here could give us some good rewards.
2) Even if things are beyond your control, make plans about what could happen. Per example, you are actually running BM under your own name. You can start asking yourself if it would be necessary to create a registred company to run your business and where you could locate your company to minimize the risks of some political changes that will come. Possibility to relocate your machines or not. etc..
3) Get some legal advices of what is the best for you at the moment and for the future (what we can expect).

I'm saying that because it seems to be always the same story. I think anticipation is the key to stay alive here.

What do you think ?

Patrick

I think...

1) Many here overestimate the effect of news announcements. This IMO is largely because they see large movements in the share price of companies that have very little actual results to proclaim. This does not include us and our daily dividend payouts are showing up everyday on the same screen that many are getting their news from...no spam needed. One needn't be adept at math to compare our yield to our competitors. Despite the fact that btct.co software is slow to show increases in yield it's still obvious to anyone where the payouts are even at a casual glance. I updated the front page days ago and I update the spreadsheet daily to reflect our current status. Btct.co links directly to both. All this said, I will work on a detailed news post to explain clearly where we stand. As many have already received their batch 3 Avalons, I've been hoping to include that in my next update...particularly as it would push our hash rate over 1Th/s.

2 - 3) I spoke with a corporate attorney yesterday about my personal risk profile. While I'm not at liberty to discuss the specifics of that conversation at this time, I will say simply that I'm seeking additional informed legal opinions before I make a decision. Managing this virtual company is not now nor has it ever been intended to be the job that puts bread on my table. I'm a family man with a career. I'll not be relocating to another country to protect a virtual company from a government that's plainly out of control. Compliance is difficult and expensive by design.

[AngelSky]

Well, that's a good start.

[KCBitcoin]

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? 

LOL......This is a good one.

[dexX7]

I can assure virtual shareholders that I'll continue to do my job to the best of my abilities and that I'll continue to make decisions intended to protect and increase shareholder value.

Thanks for the sweet words.

[deltanine]

I think...

1) Many here overestimate the effect of news announcements. This IMO is largely because they see large movements in the share price of companies that have very little actual results to proclaim. This does not include us and our daily dividend payouts are showing up everyday on the same screen that many are getting their news from...no spam needed. One needn't be adept at math to compare our yield to our competitors. Despite the fact that btct.co software is slow to show increases in yield it's still obvious to anyone where the payouts are even at a casual glance. I updated the front page days ago and I update the spreadsheet daily to reflect our current status. Btct.co links directly to both. All this said, I will work on a detailed news post to explain clearly where we stand. As many have already received their batch 3 Avalons, I've been hoping to include that in my next update...particularly as it would push our hash rate over 1Th/s.

2 - 3) I spoke with a corporate attorney yesterday about my personal risk profile. While I'm not at liberty to discuss the specifics of that conversation at this time, I will say simply that I'm seeking additional informed legal opinions before I make a decision. Managing this virtual company is not now nor has it ever been intended to be the job that puts bread on my table. I'm a family man with a career. I'll not be relocating to another country to protect a virtual company from a government that's plainly out of control. Compliance is difficult and expensive by design.

Am I missing something here?

Three days ago everything is going along swimmingly, then suddenly the SEC comes down on pirateat40 for scamming people out of millions of USD using Bitcoins.  Now we have all of this doom and gloom, sky is falling, gov't out of control stuff going on.  Pirateat40 knowingly and willfully ran a Ponzi from the jump.  His express purpose was to rip people off.  Any time you scam millions of dollars through some sort of investment the SEC will come after you.

I can respect that creativex is covering his ass and all, but wow.  I don't see any evidence the gov't is out there guns ablazin' to take down these small time exchanges or mining contract operators.  By all means, make sure you have your ducks in a row, but the impending doom talk is an overreaction.

[Youngbill]

+1

I think...

1) Many here overestimate the effect of news announcements. This IMO is largely because they see large movements in the share price of companies that have very little actual results to proclaim. This does not include us and our daily dividend payouts are showing up everyday on the same screen that many are getting their news from...no spam needed. One needn't be adept at math to compare our yield to our competitors. Despite the fact that btct.co software is slow to show increases in yield it's still obvious to anyone where the payouts are even at a casual glance. I updated the front page days ago and I update the spreadsheet daily to reflect our current status. Btct.co links directly to both. All this said, I will work on a detailed news post to explain clearly where we stand. As many have already received their batch 3 Avalons, I've been hoping to include that in my next update...particularly as it would push our hash rate over 1Th/s.

2 - 3) I spoke with a corporate attorney yesterday about my personal risk profile. While I'm not at liberty to discuss the specifics of that conversation at this time, I will say simply that I'm seeking additional informed legal opinions before I make a decision. Managing this virtual company is not now nor has it ever been intended to be the job that puts bread on my table. I'm a family man with a career. I'll not be relocating to another country to protect a virtual company from a government that's plainly out of control. Compliance is difficult and expensive by design.

Am I missing something here?

Three days ago everything is going along swimmingly, then suddenly the SEC comes down on pirateat40 for scamming people out of millions of USD using Bitcoins.  Now we have all of this doom and gloom, sky is falling, gov't out of control stuff going on.  Pirateat40 knowingly and willfully ran a Ponzi from the jump.  His express purpose was to rip people off.  Any time you scam millions of dollars through some sort of investment the SEC will come after you.

I can respect that creativex is covering his ass and all, but wow.  I don't see any evidence the gov't is out there guns ablazin' to take down these small time exchanges or mining contract operators.  By all means, make sure you have your ducks in a row, but the impending doom talk is an overreaction.

[bobboooiie]

I think...

1) Many here overestimate the effect of news announcements. This IMO is largely because they see large movements in the share price of companies that have very little actual results to proclaim. This does not include us and our daily dividend payouts are showing up everyday on the same screen that many are getting their news from...no spam needed. One needn't be adept at math to compare our yield to our competitors. Despite the fact that btct.co software is slow to show increases in yield it's still obvious to anyone where the payouts are even at a casual glance. I updated the front page days ago and I update the spreadsheet daily to reflect our current status. Btct.co links directly to both. All this said, I will work on a detailed news post to explain clearly where we stand. As many have already received their batch 3 Avalons, I've been hoping to include that in my next update...particularly as it would push our hash rate over 1Th/s.

2 - 3) I spoke with a corporate attorney yesterday about my personal risk profile. While I'm not at liberty to discuss the specifics of that conversation at this time, I will say simply that I'm seeking additional informed legal opinions before I make a decision. Managing this virtual company is not now nor has it ever been intended to be the job that puts bread on my table. I'm a family man with a career. I'll not be relocating to another country to protect a virtual company from a government that's plainly out of control. Compliance is difficult and expensive by design.

Am I missing something here?

Three days ago everything is going along swimmingly, then suddenly the SEC comes down on pirateat40 for scamming people out of millions of USD using Bitcoins.  Now we have all of this doom and gloom, sky is falling, gov't out of control stuff going on.  Pirateat40 knowingly and willfully ran a Ponzi from the jump.  His express purpose was to rip people off.  Any time you scam millions of dollars through some sort of investment the SEC will come after you.

I can respect that creativex is covering his ass and all, but wow.  I don't see any evidence the gov't is out there guns ablazin' to take down these small time exchanges or mining contract operators.  By all means, make sure you have your ducks in a row, but the impending doom talk is an overreaction.

Iam shocked and stunned that member registered in October 26, 2011 is surprised by bitcoin community overreaction about something 

[deltanine]

I think...

1) Many here overestimate the effect of news announcements. This IMO is largely because they see large movements in the share price of companies that have very little actual results to proclaim. This does not include us and our daily dividend payouts are showing up everyday on the same screen that many are getting their news from...no spam needed. One needn't be adept at math to compare our yield to our competitors. Despite the fact that btct.co software is slow to show increases in yield it's still obvious to anyone where the payouts are even at a casual glance. I updated the front page days ago and I update the spreadsheet daily to reflect our current status. Btct.co links directly to both. All this said, I will work on a detailed news post to explain clearly where we stand. As many have already received their batch 3 Avalons, I've been hoping to include that in my next update...particularly as it would push our hash rate over 1Th/s.

2 - 3) I spoke with a corporate attorney yesterday about my personal risk profile. While I'm not at liberty to discuss the specifics of that conversation at this time, I will say simply that I'm seeking additional informed legal opinions before I make a decision. Managing this virtual company is not now nor has it ever been intended to be the job that puts bread on my table. I'm a family man with a career. I'll not be relocating to another country to protect a virtual company from a government that's plainly out of control. Compliance is difficult and expensive by design.

Am I missing something here?

Three days ago everything is going along swimmingly, then suddenly the SEC comes down on pirateat40 for scamming people out of millions of USD using Bitcoins.  Now we have all of this doom and gloom, sky is falling, gov't out of control stuff going on.  Pirateat40 knowingly and willfully ran a Ponzi from the jump.  His express purpose was to rip people off.  Any time you scam millions of dollars through some sort of investment the SEC will come after you.

I can respect that creativex is covering his ass and all, but wow.  I don't see any evidence the gov't is out there guns ablazin' to take down these small time exchanges or mining contract operators.  By all means, make sure you have your ducks in a row, but the impending doom talk is an overreaction.

Iam shocked and stunned that member registered in October 26, 2011 is surprised by bitcoin community overreaction about something 

LOL!

Bitcoin overreaction does tend to keep things exciting around here.

[JWU90]

not sure if this is has been asked, but what happens with the LTC that is mined? It is automatically converted to BTC or are you hoarding/waiting for when Mt Gox implements it?

[ewibit]

noob question - why is the price so falling?
TIA

[AngelSky]

because we double our hashrate 

[Pale Phoenix]

I don't see any evidence the gov't is out there guns ablazin' to take down these small time exchanges or mining contract operators.  By all means, make sure you have your ducks in a row, but the impending doom talk is an overreaction.

Yeah, it's a huge overreaction, ginned up by people trying to get their hands on cheap shares. Once everyone realizes that there are no black helicopters overhead things will return to some semblance of normalcy.

[hasher87]

noob question - why is the price so falling?
TIA

20% summer discounT!   

[furuknap]

I don't see any evidence the gov't is out there guns ablazin' to take down these small time exchanges or mining contract operators.  By all means, make sure you have your ducks in a row, but the impending doom talk is an overreaction.

Yeah, it's a huge overreaction, ginned up by people trying to get their hands on cheap shares. Once everyone realizes that there are no black helicopters overhead things will return to some semblance of normalcy.

I'm also thinking that this has something to do with Creative's mood; he seems to be in a state of dispair and that might affect people's long-term outlook. A huge part of the evaluation of any investment is the team or person behind it. When that entity seems to be pessimistic of depressed, investors might be frightened.

.b

[creativex]

While I'm obviously not pleased with the happenings of the last couple days I'd hardly describe my outlook as pessimistic or depressed. I'm simply trying to plot the best course through events I cannot directly influence.

Cheers.

[creativex]

not sure if this is has been asked, but what happens with the LTC that is mined? It is automatically converted to BTC or are you hoarding/waiting for when Mt Gox implements it?

These are converted and added daily whenever we're mining LTCs with our GPUs.

Cheers.

[MilkyLep]

It's reassuring to see everyone start to calm down. Creativx's dedication and steadfast attitude is another positive testament to bASIC-Mining's potential for growth.

And if I may read between the lines, or glance at the contract, it seems if outside forces become overbearing, mining infrastructure will be sold and split with everyone, and possibly the growth fund? Not sure about the latter.

EDIT: I just noticed this (and I doubt its anything new) but bASIC has the highest moderator approval of all securities listed on BTCT, tubular!