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Author Topic: ASICMINER AUCTION 2000 sahres.  (Read 15950 times)
ThickAsThieves
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February 17, 2013, 06:39:27 PM
 #21

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...  Undecided

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

Ha, yeah so I noticed Undecided


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.
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February 17, 2013, 06:52:49 PM
 #22

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...  Undecided

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

Ha, yeah so I noticed Undecided


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.

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February 17, 2013, 07:31:31 PM
 #23

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

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February 17, 2013, 07:32:58 PM
 #24

500 @ 0.4

1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
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February 17, 2013, 07:40:12 PM
 #25

250 @ .38

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February 17, 2013, 07:53:05 PM
 #26

25 @ 0.39
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February 17, 2013, 07:59:29 PM
 #27

NameNumber of sharespps
PM1250.45
mb300sd4000.40
Sal002250.39
wachtwoord250.39
ahdinosaur1250.38
BlackLilac 2000.38
ghostshirt 750.38
Vezunchik 2500.38
PM2 4000.38
keystroke 2500.38
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February 17, 2013, 08:24:43 PM
 #28

Please update my bid:
400 @ 0.38
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February 17, 2013, 08:27:30 PM
 #29

And do not forget that this means
250 @ 0.38 # 14 + 150 @ 0.38 # 30
Smiley
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February 17, 2013, 08:28:18 PM
 #30

NameNumber of sharespps
PM1250.45
mb300sd4000.40
Sal002250.39
wachtwoord250.39
ahdinosaur1250.38
BlackLilac 2000.38
ghostshirt 750.38
Vezunchik 2500.38
PM2 4000.38
keystroke 2500.38
Vezunchik 1500.38
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February 17, 2013, 09:07:21 PM
 #31

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.

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February 17, 2013, 09:50:51 PM
 #32

NameNumber of sharespps
PM1250.45
mb300sd4000.40
Sal002250.39
wachtwoord250.39
Sukrim750.39
ahdinosaur1250.38
BlackLilac 2000.38
ghostshirt 750.38
Vezunchik 2500.38
PM2 4000.38
keystroke 2500.38
Vezunchik 1500.38

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February 17, 2013, 10:35:23 PM
 #33

Im sorry I have no idea how this works as an investment, is anyone willing to break it down for my feeble mind?
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February 17, 2013, 11:10:52 PM
 #34

500 @ 0.39
100 @ 0.41
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February 17, 2013, 11:19:19 PM
 #35

NameNumber of sharespps
PM1250.45
TradeFortress1000.41
mb300sd4000.40
Sal002250.39
wachtwoord250.39
Sukrim750.39
TradeFortress5000.39
ahdinosaur1250.38
BlackLilac 2000.38
ghostshirt 750.38
Vezunchik 2500.38
PM2 2000.38
-------OUTBID------------------------
Name           Number of sharespps
PM2 2000.38
keystroke 2500.38
Vezunchik 1500.38
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February 17, 2013, 11:22:26 PM
 #36

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?
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February 17, 2013, 11:41:18 PM
 #37

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...  Undecided

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

Ha, yeah so I noticed Undecided


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.

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February 18, 2013, 12:40:35 AM
 #38

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?

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February 18, 2013, 12:57:10 AM
 #39

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.
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February 18, 2013, 01:01:51 AM
 #40

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