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

[SebastianJu]

*I'm* not confused, but SebastianJu might have been.

I understood it the way that burnside still hold >51% of btctc. Once he doesnt hold more than 51% the fee applies. A downside i see in this is that an investor doesnt know if in a week the fee will be applied because its based on numbers a investor doesnt have access to.
Even when i now update the comparison-table i would need to write it into the table that no fees are taken at the moment. A possible investor that is checking out the pt maybe reads this rule but has no clue if the fee is applying at the moment or not. Or how near it is. The date was more transparent.

[burnside]

I'm bummed to see the cleanup motion to remove the ipo terms failed, but that's not a big deal.  Most likely people didn't understand that those were terms only valid during the initial 1 week IPO period.  The other two motions will have a positive impact on everyone involved!

Cheers.

Why did the motion fail?

Standard corporate law is that a motion passes by Ordinary Resolution if 50% of THOSE THAT VOTE approve, not 50% of all shares. If shareholders choose not to vote they are disregarded. The rule is designed as this was since many companies have large amounts of shareholders that never vote.

The only reason why you would require 50% of all shareholders to approve if it it was written that way in the articles/constitution of the company but that would be highly unusual! Is that the case?

It's not really a company, more like a purchasing cooperative.  As such, I felt like it's important for at least 50% of the participants to approve of it.  I figure some might have thought the old cruft has some historical value or something, heh.  But it's not a big deal.  I'll try again in a month or so. 

[burnside]

Also noticing it, site seems pretty much unusuable. Also have yet to see a deposit show up in my balance despite having 7 confirmations.

There were some load issues with the backend bitcoind today.  Too many getBalance requests going into it.  I altered the caching mechanism to reduce the request counts somewhat.  It's probably this caching that is making it look like a deposit hasn't come in.  (chances are that it has, and the cache just hasn't timed out yet.)

You'll notice that requests are still pretty slow when trading and using the wallet page.  I need to upgrade bitcoind anyway before the 15th, and I hear it has some performance improvements.  I can't wait.    If things still suck after that, we may have to upgrade hardware or potentially de-couple bitcoind from the site and go with everything in SQL.  Right now I like having two records of all the transactions (SQL + bitcoind) but if bitcoind can't keep up, then we can't keep using it like that.

Cheers.

[burnside]

*I'm* not confused, but SebastianJu might have been.

I understood it the way that burnside still hold >51% of btctc. Once he doesnt hold more than 51% the fee applies. A downside i see in this is that an investor doesnt know if in a week the fee will be applied because its based on numbers a investor doesnt have access to.
Even when i now update the comparison-table i would need to write it into the table that no fees are taken at the moment. A possible investor that is checking out the pt maybe reads this rule but has no clue if the fee is applying at the moment or not. Or how near it is. The date was more transparent.

I'll give lots of warning if that ever happens.  I don't anticipate it, but you never know.  Thus why it's there.

Cheers.

[coldguy]

Hi Burnside,

Sorry for replying irrelevant information here, but it seems hard to contact you from PM. I had a issue with google auth on btct.co. Please help...

Thanks.

[burnside]

Hi Burnside,

Sorry for replying irrelevant information here, but it seems hard to contact you from PM. I had a issue with google auth on btct.co. Please help...

Thanks.

Sorry about that!  Give it a whirl now. 

[coldguy]

Hi Burnside,

Sorry for replying irrelevant information here, but it seems hard to contact you from PM. I had a issue with google auth on btct.co. Please help...

Thanks.

Sorry about that!  Give it a whirl now. 

Problem solved. Thanks!

[Scigie]

Burnside,

First let me say you are doing and have done a fantastic job on all fronts.

Quick question: I notice on the ASICMINER-PT History page that at the beginning of April you bought back some share reducing the total holdings of the pass through. I'm just curious why you did this?

Thanks

[burnside]

Burnside,

First let me say you are doing and have done a fantastic job on all fronts.

Quick question: I notice on the ASICMINER-PT History page that at the beginning of April you bought back some share reducing the total holdings of the pass through. I'm just curious why you did this?

Thanks

Drops in the outstanding share count happens when people withdraw from the PT to direct ASICMINER shares.  That way we can make sure that all shares being traded are backed at all times.

Cheers.

[stripykitteh]

Also noticing it, site seems pretty much unusuable. Also have yet to see a deposit show up in my balance despite having 7 confirmations.

There were some load issues with the backend bitcoind today.  Too many getBalance requests going into it.  I altered the caching mechanism to reduce the request counts somewhat.  It's probably this caching that is making it look like a deposit hasn't come in.  (chances are that it has, and the cache just hasn't timed out yet.)

You'll notice that requests are still pretty slow when trading and using the wallet page.  I need to upgrade bitcoind anyway before the 15th, and I hear it has some performance improvements.  I can't wait.    If things still suck after that, we may have to upgrade hardware or potentially de-couple bitcoind from the site and go with everything in SQL.  Right now I like having two records of all the transactions (SQL + bitcoind) but if bitcoind can't keep up, then we can't keep using it like that.

Cheers.

Possibly relevant to errors reported on btct.co at the moment.

Error:
Xcoind backend failure in getbalance at 81

[AMuppInTime]

Also noticing it, site seems pretty much unusuable. Also have yet to see a deposit show up in my balance despite having 7 confirmations.

There were some load issues with the backend bitcoind today.  Too many getBalance requests going into it.  I altered the caching mechanism to reduce the request counts somewhat.  It's probably this caching that is making it look like a deposit hasn't come in.  (chances are that it has, and the cache just hasn't timed out yet.)

You'll notice that requests are still pretty slow when trading and using the wallet page.  I need to upgrade bitcoind anyway before the 15th, and I hear it has some performance improvements.  I can't wait.    If things still suck after that, we may have to upgrade hardware or potentially de-couple bitcoind from the site and go with everything in SQL.  Right now I like having two records of all the transactions (SQL + bitcoind) but if bitcoind can't keep up, then we can't keep using it like that.

Cheers.

Possibly relevant to errors reported on btct.co at the moment.

Error:
Xcoind backend failure in getbalance at 81

+1

[stripykitteh]

Looks like it's back. 

[furuknap]

Just for those that have Notify on for this thread and not the main thread,

1) AM just sold 190 new block erupter blades @฿50 each
Link: https://bitcointalk.org/index.php?topic=201753.msg2128147#msg2128147

2) First developer USB Miners have shipped
Link: https://bitcointalk.org/index.php?topic=99497.msg2128456#msg2128456

3) friedcat reveals he truly is the second coming
Link: No, not really.

.b

EDIT: Clarify this is a developer stick, not consumer version
EDIT2: Updated second link, thanks Zedster

[Zedster]

Just for those that have Notify on for this thread and not the main thread,

1) AM just sold 190 new block erupter blades @฿50 each
Link: https://bitcointalk.org/index.php?topic=201753.msg2128147#msg2128147

2) First developer USB Miners have shipped
Link: https://bitcointalk.org/index.php?topic=201753.msg2128147#msg2128147

3) friedcat reveals he truly is the second coming
Link: No, not really.

.b

EDIT: Clarify this is a developer stick, not consumer version

You posted identical links.  Am I missing something?

And no dividends today?

[furuknap]

You posted identical links.  Am I missing something?

My bad, probably just a copy+paste error. Updated now, second link should be https://bitcointalk.org/index.php?topic=99497.msg2128456#msg2128456; although the origianl post has now been edited, it is quoted later in the thread.

.b

[burnside]

Divs!  ฿0.03622241 per share.

Cheers.

[Rant2112]

The site is unusably slow for me again.  8(

[statdude]

Can't login. Anyone else? Even reset pass.

[GuiltySpark343]

According to BTC-TC website:

The website has been under DDoS attack this evening. Sorry about the trouble.
Someone should tell the bad guys we're boring and harmless.
Cheers

[FloridaBear]

Divs!  ฿0.03622241 per share.

Cheers.

Wow, quite a jump there. Thanks!