ASICMINER AUCTION 2000 sahres.

[ThickAsThieves]

This is a  Auctions thread. You can't edit posts. And moderators can't do it too, I think...

Oh..oops, sorry for all the posts. Meant to edit my first one, but it appears the "edit" button is missing... 

Mods, feel free to delete this post and the one before it with just the quote.

Ha, yeah so I noticed


Well anyway, back to the original question: Goat, why are you offering them at .38 when they were originally purchased at .1? What makes these 2000 shares so special that they require a 380% markup?

Because that's what the market rate is this week, there are a number of threads selling at higher prices.

[zefir]

This is a  Auctions thread. You can't edit posts. And moderators can't do it too, I think...

Oh..oops, sorry for all the posts. Meant to edit my first one, but it appears the "edit" button is missing... 

Mods, feel free to delete this post and the one before it with just the quote.

Ha, yeah so I noticed


Well anyway, back to the original question: Goat, why are you offering them at .38 when they were originally purchased at .1? What makes these 2000 shares so special that they require a 380% markup?

My auction is still running in another thread and ASICMINER shares are currently going for 0.44BTC each, so please allow me to take the ball and answer your question.

When friedcat offered participation in his venture 6+ months ago, this was not more than a bet whether he could compete with the established players. Assume at that times you invested money in ASICMINER, BFL, Avalon and bASIC equally to diversify your risk. Today, ASICMINER won the race (ok, Avalon delivered first, but not to us mortals) and that's why you are asked to pay 300% risk surcharge - thats what you pay to someone else taking the risk for you.

[mc_lovin]

Can I be the one to point out the typo in the thread title?  2000 sahres.

[mb300sd]

500 @ 0.4

[keystroke]

250 @ .38

[wachtwoord]

25 @ 0.39

[wachtwoord]

Name	Number of shares	pps
PM1	25	0.45
mb300sd	400	0.40
Sal002	25	0.39
wachtwoord	25	0.39
ahdinosaur	125	0.38
BlackLilac	200	0.38
ghostshirt	75	0.38
Vezunchik	250	0.38
PM2	400	0.38
keystroke	250	0.38

[Vezunchik]

Please update my bid:
400 @ 0.38

[Vezunchik]

And do not forget that this means
250 @ 0.38 # 14 + 150 @ 0.38 # 30

[wachtwoord]

Name	Number of shares	pps
PM1	25	0.45
mb300sd	400	0.40
Sal002	25	0.39
wachtwoord	25	0.39
ahdinosaur	125	0.38
BlackLilac	200	0.38
ghostshirt	75	0.38
Vezunchik	250	0.38
PM2	400	0.38
keystroke	250	0.38
Vezunchik	150	0.38

[Sukrim]

75 @ 0.39
(=29.25 total)

I think that increases of 0.01 are too high btw. considering that the starting price is just 0.38 per share and one has to buy in packs of 25 shares.

[wachtwoord]

Name	Number of shares	pps
PM1	25	0.45
mb300sd	400	0.40
Sal002	25	0.39
wachtwoord	25	0.39
Sukrim	75	0.39
ahdinosaur	125	0.38
BlackLilac	200	0.38
ghostshirt	75	0.38
Vezunchik	250	0.38
PM2	400	0.38
keystroke	250	0.38
Vezunchik	150	0.38

[bitjet]

Im sorry I have no idea how this works as an investment, is anyone willing to break it down for my feeble mind?

[🏰 TradeFortress 🏰]

500 @ 0.39
100 @ 0.41

[wachtwoord]

Name	Number of shares	pps
PM1	25	0.45
TradeFortress	100	0.41
mb300sd	400	0.40
Sal002	25	0.39
wachtwoord	25	0.39
Sukrim	75	0.39
TradeFortress	500	0.39
ahdinosaur	125	0.38
BlackLilac	200	0.38
ghostshirt	75	0.38
Vezunchik	250	0.38
PM2	200	0.38

-------OUTBID------------------------

Name	Number of shares	pps
PM2	200	0.38
keystroke	250	0.38
Vezunchik	150	0.38

[Vezunchik]

You simply buying a small part of ASIC mining hardware working 24 h/7 days. (1/400 000 of ASICMiner power).
https://bitcointalk.org/index.php?topic=99497.0

Im sorry I have no idea how this works as an investment, is anyone willing to break it down for my feeble mind?

[John (John K.)]

This is a  Auctions thread. You can't edit posts. And moderators can't do it too, I think...

Oh..oops, sorry for all the posts. Meant to edit my first one, but it appears the "edit" button is missing... 

Mods, feel free to delete this post and the one before it with just the quote.

Ha, yeah so I noticed


Well anyway, back to the original question: Goat, why are you offering them at .38 when they were originally purchased at .1? What makes these 2000 shares so special that they require a 380% markup?

Yes, mods can still delete posts in this section. Please use the 'report to moderators' option next time to inform us.

[Korbman]

Yes, mods can still delete posts in this section. Please use the 'report to moderators' option next time to inform us.

Ah, sounds good. Thanks John.

Well anyway, back to the original question: Goat, why are you offering them at .38 when they were originally purchased at .1? What makes these 2000 shares so special that they require a 380% markup?

My auction is still running in another thread and ASICMINER shares are currently going for 0.44BTC each, so please allow me to take the ball and answer your question.

When friedcat offered participation in his venture 6+ months ago, this was not more than a bet whether he could compete with the established players. Assume at that times you invested money in ASICMINER, BFL, Avalon and bASIC equally to diversify your risk. Today, ASICMINER won the race (ok, Avalon delivered first, but not to us mortals) and that's why you are asked to pay 300% risk surcharge - thats what you pay to someone else taking the risk for you.

Right, I understand that...but that's surely not the only aspect going into this evaluation?

At 12TH/s (their starting projection before ramping up to 50TH/s or more), it's 30MH/s per share (400,000 shares). These 2000 shares up for offer are worth 60GH/s...in August 2012 (at IPO price of .1BTC), it was worth 200BTC, or $2,000 (at roughly $10 per BTC back then).

So now you're telling me that 6 months of risk (and BTC rallying) has resulted in $2,000 in shares suddenly becoming worth $20,500? [2000 shares x .38BTC minimum valuation x $27 USD/BTC]
Even at 50TH/s, it's only 125MH/s per share...2000 of which would result in 250GH/s. In my mind, I simply can't justify how that could be worth a minimum of 760 Bitcoins, even when factoring in risk...

Clearly there's something I'm missing...or maybe people bidding for these shares haven't done their math yet?

[🏰 TradeFortress 🏰]

Yes, mods can still delete posts in this section. Please use the 'report to moderators' option next time to inform us.

Ah, sounds good. Thanks John.

Well anyway, back to the original question: Goat, why are you offering them at .38 when they were originally purchased at .1? What makes these 2000 shares so special that they require a 380% markup?

My auction is still running in another thread and ASICMINER shares are currently going for 0.44BTC each, so please allow me to take the ball and answer your question.

When friedcat offered participation in his venture 6+ months ago, this was not more than a bet whether he could compete with the established players. Assume at that times you invested money in ASICMINER, BFL, Avalon and bASIC equally to diversify your risk. Today, ASICMINER won the race (ok, Avalon delivered first, but not to us mortals) and that's why you are asked to pay 300% risk surcharge - thats what you pay to someone else taking the risk for you.

Right, I understand that...but that's surely not the only aspect going into this evaluation?

At 12TH/s (their starting projection before ramping up to 50TH/s or more), it's 30MH/s per share (400,000 shares). These 2000 shares up for offer are worth 60GH/s...in August 2012 (at IPO price of .1BTC), it was worth 200BTC, or $2,000 (at roughly $10 per BTC back then).

So now you're telling me that 6 months of risk (and BTC rallying) has resulted in $2,000 in shares suddenly becoming worth $20,500? [2000 shares x .38BTC minimum valuation x $27 USD/BTC]
Even at 50TH/s, it's only 125MH/s per share...2000 of which would result in 250GH/s. In my mind, I simply can't justify how that could be worth a minimum of 760 Bitcoins, even when factoring in risk...

Clearly there's something I'm missing...or maybe people bidding for these shares haven't done their math yet?

A number of factors:

At 0.1 BTC / share, there was significant risk - development problems for example, and nobody could predict if ASICMINER will be the first to market (they are definitely beating avalon's ASIC trickle).

The BTC price rally is a null point - higher BTC worth means that mining companies will make more USD income, and vice versa.

[wachtwoord]

And these aren't mining bonds but equity in a company.