With Ukyo's public blessing and confirmation that such transfers will be readily accepted and processed I am happy to process transfers to the G.ASICMINER asset for people that want it. Sans that, I cannot help.
but how's the transferring going? i have send a lot of shares to your account on btct, and pm and email you to comfirm , but i was wondering can u get this done before next dividend date?
I feel the need to help. So I want to compile all the information about the ASICMENT-PT on btct.co and relay it in an easy to understand format. (Some people need this.)
Everything after this point is information I know to the best of my ability. It may be wrong. I do not speak on behalf of Burnside. I don't not manage any ASICMINER pass-throughs, so don't consider anything in this post "official" for any ASICMINER pass-through manager.
First, a little background.
What are direct shares?:ASICMINER is a mining company/equipment manufacturer. It sell it's shares directly to the public--not on any exchange. Friedcat manages sales/transfers of these direct shares. He has a complete list of every shareholder, their email address and Bitcoin address. When you own these direct shares, your dividends are paid directly to the Bitcoin address Friedcat has on file. To buy or sell shares, you need to find a buyer/seller your sell and negotiate an individual price (I'll pay your X for Y number of shares). After a deal is done, Friedcat must be notified that the sell took place and who the new owner of the shares are.
Pass throughs (I.E. a depository receipts)Because it takes a lot of work to find a buyer and a seller that can come to an agreeable price, many people thought it would be a good idea to offer ASICMINER shares on an exchange.
It works like this: The pass-through manager would buy direct ASICMINER shares... then they wold sell an equal number of shares on the exchange.
In the case of the btct.co exchange, Burnside is the person who actually bought the direct shares and has his email and Bitcoin address on file with Friedcat. When ever his Bitcoin address got paid dividends, he would send an equal payment to the pass-through account btct.co and re-pay the dividend.
Ukyo manages the pass-through on BitFunder. TAT Investments manages the pass-through on Havelock.
Different managers run their pass-thoughs in different ways. Make sure to read the asset contracts when choosing a pass-through.
I own pass-through shares on btct.co... what can I do?Right now, 2 out of 3 choices are available to you.
- - Do nothing. Burnside will have your shares converted to direct shares by giving your email and Bitcoin address to Friedcat.
While waiting for that to happen, dividends will continued to be paid as normal. After you have your direct shares, you can do what ever you want. Keep them, sell them, or "import" them to a different pass-through.
- - Transfer your shares to Havelock.
ThickAsThieves has made steps to ensure a smooth transition right now without having to wait for direct shares. See this thread with complete instructions.
- -
Transfer your shares to BitFunder.
Right now this is not available. Ukyo has not provided support or instructions for transferring shares to BitFunder. But you should be able to "import" direct shares when you get them.
