[BTCTC][[ASICMINER-PT]] - Public trading of ASICMINER shares

[Deprived]

How will holders of ASICMINER-PT receive dividends?

It should just show up in your account if you hold shares. 

Cool... I bought shares today... I wonder when the cutoff is? Shares purchased at 2013-03-06 12:13:29

Cutoff is who owns the shares when burnside pays dividends - there's no means in the system to do otherwise.

[wisard]

For me, features are secondary.
The quality of companies / ventures listed is what counts.
And bitfunder seems to have a few more better ventures than btct at the moment.

I don't think both bitfunder and btct will be equally big. One of them will take a big lead. Because better companies attract better investors that attract better companies that attract better investors that attract.... A slight lead will build up a long way.

I hope I'm wrong, but I reckon the exchange that does its best in attracting awesome companies in the next 6 months will gain a big unassailable lead.

[burnside]

For me, features are secondary.
The quality of companies / ventures listed is what counts.
And bitfunder seems to have a few more better ventures than btct at the moment.

I don't think both bitfunder and btct will be equally big. One of them will take a big lead. Because better companies attract better investors that attract better companies that attract better investors that attract.... A slight lead will build up a long way.

I hope I'm wrong, but I reckon the exchange that does its best in attracting awesome companies in the next 6 months will gain a big unassailable lead.

Seemed to fit better in the btct.co thread, so I replied over here: https://bitcointalk.org/index.php?topic=125629.msg1593832#msg1593832

Cheers.

[burnside]

Daily update.  Looks like 420 shares left before we can issue the 1000 share refund/dividend.

Making great progress!

Cheers.

[Deprived]

The 1000 have sold.

Which means it now falls squarely into a gap in your revised contract which says:

"For under 1000 shares, the management fee shall be 3%.  For over 1000 shares, the management fee shall be 2%."

So what's the fee for exactly 1000?

[usagi]

The 1000 have sold.

Which means it now falls squarely into a gap in your revised contract which says:

"For under 1000 shares, the management fee shall be 3%.  For over 1000 shares, the management fee shall be 2%."

So what's the fee for exactly 1000?

2.5% 

[Ukyo]

The 1000 have sold.

Which means it now falls squarely into a gap in your revised contract which says:

"For under 1000 shares, the management fee shall be 3%.  For over 1000 shares, the management fee shall be 2%."

So what's the fee for exactly 1000?

2.5%?

Edit: LOL nice timing

[burnside]

The 1000 have sold.

Which means it now falls squarely into a gap in your revised contract which says:

"For under 1000 shares, the management fee shall be 3%.  For over 1000 shares, the management fee shall be 2%."

So what's the fee for exactly 1000?

2.5%?

Edit: LOL nice timing

Heh, I guarantee it won't stay at 1000 for the 90 day window, so this is probably not an issue, but I am always going to side in favor of the shareholder regarding fees where it's not clear in the contract.  (my loss for not being clear.)  Seems the only real fair way to handle it.

Cheers.
 

[burnside]

Daily update.  All shares have sold!

I have sent to escrow the funds required to exercise the purchase of the remaining shares.

That leaves 11.8 BTC as slush in the passthru fund.  I have to hold 1.3 BTC of this until I am absolutely certain a buyback will not be required.  (because a buyback incurs a 0.2% transaction fee)  Thus I am scheduling an immediate 10.5 BTC dividend/refund.

As soon as I have confirmation from friedcat that the shares have been transferred and are securely in our hands, I will schedule a follow-up refund of the 1.3 BTC remaining.

I've had a lot of interest in transferring shares into the fund.  The process is:

1) Let me know you'd like to be transferring shares into the passthru.
2) Send friedcat an email (if you have shares, you know his email address) and cc me (burnside \\\ kattare.com) with roughly the following content:  (fill in XX, YY, and ZZ!)

Please, transfer XX of my shares to burnside to be traded on his ASICMINER-PT.

My bitcoin address on file with ASICMINER is: ZZ
burnside's bitcoin address on file with ASICMINER is: 1DXyYV4oxehn828ZnRSvuziArPoJLQq7SM

When the shares have been transferred please send a confirmation to (burnside \\\ kattare.com).

(burnside, my BTCT.CO account login is: YY.)

3) Once I receive confirmation from Friedcat I will credit your shares on the exchange by transferring shares from the ASICMINER-PT to your BTCT-CO account.

At this point I guarantee that confirmations received from Friedcat between now and next Monday will be transferred by Monday the 11th at the latest.  However, I am hoping to have time to process them sooner.  After that I expect under 24 hours to get them processed once Friedcat has sent confirmation.

Despite what it says in the contract, all transfer fees will be waived for the indefinite future.

Cheers.

[Maciek]

Hi

Dear,
@burnside

I'm a small shareholder of yours ASICMINER-PT and I have two questions before I start to invest more:

1) We all wish you good health and 100 years of live. BUT: To be sure that investment in ASICMINER-PT is a good idea I need to ask like in BTC-TC FAQ: "What happens if your main developer gets hit by a bus?" (Of course this is philosophical question)
Is there anybody who co-operate with you and know all passwords etc. to pay us the dividends and so on?

2) Is ASICMINER going to have more TH/s anytime soon? Where we can read about the plans and the timeframe of gaining more HashPower?

Good luck,
Cheers!

[burnside]

Hi

Dear,
@burnside

I'm a small shareholder of yours ASICMINER-PT and I have two questions before I start to invest more:

1) We all wish you good health and 100 years of live. BUT: To be sure that investment in ASICMINER-PT is a good idea I need to ask like in BTC-TC FAQ: "What happens if your main developer gets hit by a bus?" (Of course this is philosophical question)
Is there anybody who co-operate with you and know all passwords etc. to pay us the dividends and so on?

2) Is ASICMINER going to have more TH/s anytime soon? Where we can read about the plans and the timeframe of gaining more HashPower?

Good luck,
Cheers!

1) Is a great question.  I have expanded a bit on my dead mans switch setup in the FAQ to accommodate ASICMINER-PT.  Please load the FAQ while logged in for whom to contact if you suspect something has happened to me.

2) That's probably best left to the ASICMINER thread here: https://bitcointalk.org/index.php?topic=99497.0

Cheers.

[burnside]

Couple of updates for the day.

- The exercise of the call option has been completed and the share transfer confirmed by friedcat.
- The remaining refund of 1.3 BTC has been processed.
- Several of the first transfers to the passthru have been processed.  We are now managing over 2000 shares of ASICMINER.


Thank you all for supporting ASICMINER-PT!

[Zedster]

Let me get this straight.  Sorry I am sadly new to everything.

You started out with rights to sell 2000 pass-thru shares of ASICMiner from Friedcat.  Then the Bitfunder situation happened and you decided to only take 1000.  Those were then sold at the opening price of 0.65BTC. 

Now you received another 1000 from Friedcat that were original shares now managed by BTCTC as a pass-thru.  There will not be another block of 1000 at 0.65BTC?

[burnside]

Let me get this straight.  Sorry I am sadly new to everything.

You started out with rights to sell 2000 pass-thru shares of ASICMiner from Friedcat.  Then the Bitfunder situation happened and you decided to only take 1000.  Those were then sold at the opening price of 0.65BTC. 

Now you received another 1000 from Friedcat that were original shares now managed by BTCTC as a pass-thru.  There will not be another block of 1000 at 0.65BTC?

Sure, happy to clarify.

The original call was for 1000.  Then I thought I had secured another 1000 in another call from another shareholder.  The second call fell through, leaving me with only the original call for 1000 shares. 

The additional 1000 plus shares on the exchange right now come from other shareholders transferring their shares into the pass through.

Cheers.

[Zedster]

Let me get this straight.  Sorry I am sadly new to everything.

You started out with rights to sell 2000 pass-thru shares of ASICMiner from Friedcat.  Then the Bitfunder situation happened and you decided to only take 1000.  Those were then sold at the opening price of 0.65BTC. 

Now you received another 1000 from Friedcat that were original shares now managed by BTCTC as a pass-thru.  There will not be another block of 1000 at 0.65BTC?

Sure, happy to clarify.

The original call was for 1000.  Then I thought I had secured another 1000 in another call from another shareholder.  The second call fell through, leaving me with only the original call for 1000 shares. 

The additional 1000 plus shares on the exchange right now come from other shareholders transferring their shares into the pass through.

Cheers.

I see said the blind man.  Thanks

[🏰 TradeFortress 🏰]

I'm debating on if I should buy the asicminer shares on btct.co or bitfunder. I would like to transfer the shares to direct with friedcat through, it's not specified in the contract but will you do it?

[Zedster]

I'm debating on if I should buy the asicminer shares on btct.co or bitfunder. I would like to transfer the shares to direct with friedcat through, it's not specified in the contract but will you do it?

I thought I read somewhere you would do this for a small fee right? I have been buying some shares and at some point I might want to move them off.

Thanks

From the Contract & Prospectus:

In addition, until Friedcat completes the ASICMINER exchange, 1 ASICMINER can be redeemed for 1 ASICMINER-PT by transferring ASICMINER shares to burnside via Friedcat.  Each such transaction will be subject to a 0.5 BTC fee. (per transaction, not per share) This transaction fee will be waived for transactions over 50 shares.

Don't think he wants the hassle of going the other way.

Is there a set dividends schedule? Or did I miss something again?

[burnside]

I'm debating on if I should buy the asicminer shares on btct.co or bitfunder. I would like to transfer the shares to direct with friedcat through, it's not specified in the contract but will you do it?

We'll trade either way.  Zero fees for the first 90 days of the PT.

Cheers.

[burnside]

Is there a set dividends schedule? Or did I miss something again?

Divs will be paid shortly.  I have to process several share imports first, as I see friedcat got them in before the div was paid.  It'll be about an hour or so.

Cheers.

[burnside]

Is there a set dividends schedule? Or did I miss something again?

Divs will be paid shortly.  I have to process several share imports first, as I see friedcat got them in before the div was paid.  It'll be about an hour or so.

Cheers.

Divs are out, 0.02378600 BTC per share.

Thanks all for being a part of ASICMINER-PT!