Bitcoin Forum
April 21, 2019, 07:24:08 AM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

Pages: [1] 2 3 4 5 6 »  All
  Print  
Author Topic: ASICMINER for dummies?  (Read 13507 times)
Rodyland
Hero Member
*****
Offline Offline

Activity: 499
Merit: 500


View Profile
March 26, 2013, 09:44:01 PM
Last edit: March 26, 2013, 11:52:53 PM by Rodyland
 #1

I've searched the forums, and the ASICMINER thread, at 137 pages long, is rather opaque.  Forum searches turn up lots of noise, as with google searches.

So, as someone who is considering buying in to ASICMINER, I have a few questions, such as
- does ASICMINER have a website
- what's the current (and future) hashing capacity
- how many shares on issue (now and future)
- how are dividends calculated, what is the maintenance costs, what's the dividend payment schedule
- if I "buy" shares from the auction forum, how do I know the person offering the shares actually has shares to sell?
- How are share transfers handled
- would I be better off buying on btct.co than the auction forum, or maybe on some other venue I'm unaware of

Thanks in advance



Beware the weak hands!
1NcL6Mjm4qeiYYi2rpoCtQopPrH4PyKfUC
GPG ID: E3AA41E3
1555831448
Hero Member
*
Offline Offline

Posts: 1555831448

View Profile Personal Message (Offline)

Ignore
1555831448
Reply with quote  #2

1555831448
Report to moderator
1555831448
Hero Member
*
Offline Offline

Posts: 1555831448

View Profile Personal Message (Offline)

Ignore
1555831448
Reply with quote  #2

1555831448
Report to moderator
1555831448
Hero Member
*
Offline Offline

Posts: 1555831448

View Profile Personal Message (Offline)

Ignore
1555831448
Reply with quote  #2

1555831448
Report to moderator
PLAY NOW
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1555831448
Hero Member
*
Offline Offline

Posts: 1555831448

View Profile Personal Message (Offline)

Ignore
1555831448
Reply with quote  #2

1555831448
Report to moderator
TradeFortress 🏕
VIP
Legendary
*
Offline Offline

Activity: 1134
Merit: 1023


View Profile
March 27, 2013, 05:09:21 AM
 #2

ASICMINER does not have a website.

They currently have around 6 TH, and the next batch will be 50 TH (deployed in April)

400,000 total shares, a little under half are floated.

Quote
- if I "buy" shares from the auction forum, how do I know the person offering the shares actually has shares to sell?

Let them sign a message from an address having the shares? (Check the div payments)

Share transfers are via PM or email.

Buy it from bitfunder.
burnside
Legendary
*
Offline Offline

Activity: 1092
Merit: 1004


Lead Blockchain Developer


View Profile WWW
March 27, 2013, 07:58:09 AM
 #3

I've searched the forums, and the ASICMINER thread, at 137 pages long, is rather opaque.  Forum searches turn up lots of noise, as with google searches.

So, as someone who is considering buying in to ASICMINER, I have a few questions, such as
- does ASICMINER have a website
- what's the current (and future) hashing capacity
- how many shares on issue (now and future)
- how are dividends calculated, what is the maintenance costs, what's the dividend payment schedule
- if I "buy" shares from the auction forum, how do I know the person offering the shares actually has shares to sell?
- How are share transfers handled
- would I be better off buying on btct.co than the auction forum, or maybe on some other venue I'm unaware of

Thanks in advance

If you go with the auction forum, definitely use escrow.

btct.co is easier and safer than forum auctions.

btct.co is also easier (no weexchange in the way) and cheaper (transaction fees) than BitFunder.
Dangolbery
Newbie
*
Offline Offline

Activity: 49
Merit: 0


View Profile
March 27, 2013, 09:17:20 AM
 #4

So what do you actually get with shares? Do you get a share of the Bitcoins they mine as a dividend? Or is it just a share in a company that's destined to die when the rest of the companies catch up with it.

If you buy the shares give a bitcoin address and recieve bitcoins as dividends then that sounds good and i'd like to buy some shares!
SebastianJu
Legendary
*
Offline Offline

Activity: 2338
Merit: 1030


Legendary Escrow Service - Tip Jar in Profile


View Profile WWW
March 27, 2013, 11:39:34 AM
 #5

I've searched the forums, and the ASICMINER thread, at 137 pages long, is rather opaque.  Forum searches turn up lots of noise, as with google searches.

So, as someone who is considering buying in to ASICMINER, I have a few questions, such as
- does ASICMINER have a website
- what's the current (and future) hashing capacity
- how many shares on issue (now and future)
- how are dividends calculated, what is the maintenance costs, what's the dividend payment schedule
- if I "buy" shares from the auction forum, how do I know the person offering the shares actually has shares to sell?
- How are share transfers handled
- would I be better off buying on btct.co than the auction forum, or maybe on some other venue I'm unaware of

Thanks in advance

If you go with the auction forum, definitely use escrow.

btct.co is easier and safer than forum auctions.

btct.co is also easier (no weexchange in the way) and cheaper (transaction fees) than BitFunder.

I think you should mention that you dont buy asicminer shares there but instead passthroughs. So the buyer has a contract with you and you have a contract with friedcat instead the buyer has a contract with friedcat directly. Or can the passthrough shares exchanged to real shares?

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
JimiQ84
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250


View Profile
March 27, 2013, 11:52:00 AM
 #6

I'm using btct.co too https://btct.co/security/ASICMINER-PT and I find it more dummies friendly and fees are acceptable.

So what do you actually get with shares? Do you get a share of the Bitcoins they mine as a dividend? Or is it just a share in a company that's destined to die when the rest of the companies catch up with it.

If you buy the shares give a bitcoin address and recieve bitcoins as dividends then that sounds good and i'd like to buy some shares!
You obviously get a dividend, which the last week was 0,025 BTC per share, the next week it should be higher because they will start mining with the new ASIC which should give them at least 5% of total hashrate. Right now these shares are way overlooked, because BTC stock market is small and because people do not really understand what's going on.
Do your research and never invest more than you can afford to lose.

but this week it'll be lower, because of difficulty rise and new calculation of dividens (till now it was divided by 200k of shares, from now on it will be divided by 400k of shares)
scrybe
Sr. Member
****
Offline Offline

Activity: 350
Merit: 250



View Profile
March 27, 2013, 01:10:51 PM
 #7

I'm using btct.co too https://btct.co/security/ASICMINER-PT and I find it more dummies friendly and fees are acceptable.

So what do you actually get with shares? Do you get a share of the Bitcoins they mine as a dividend? Or is it just a share in a company that's destined to die when the rest of the companies catch up with it.

If you buy the shares give a bitcoin address and recieve bitcoins as dividends then that sounds good and i'd like to buy some shares!
You obviously get a dividend, which the last week was 0,025 BTC per share, the next week it should be higher because they will start mining with the new ASIC which should give them at least 5% of total hashrate. Right now these shares are way overlooked, because BTC stock market is small and because people do not really understand what's going on.
Do your research and never invest more than you can afford to lose.

but this week it'll be lower, because of difficulty rise and new calculation of dividens (till now it was divided by 200k of shares, from now on it will be divided by 400k of shares)

AND because a small divident already happened this week, be sure to add them together or do some math to estimate the next one accurately.

FYI, all costs are paid in RMB (not USD), so that exchange rate matters a bit, but it's not like we are earning in Yuan.

"...as simple as possible, but no simpler" -AE
BTC/TRC/FRC: 1ScrybeSNcjqgpPeYNgvdxANArqoC6i5u Ripple:rf9gutfmGB8CH39W2PCeRbLWMKRauYyVfx LTC:LadmiD6tXq7gFZvMibhFUZegUHKXgbu1Gb
burnside
Legendary
*
Offline Offline

Activity: 1092
Merit: 1004


Lead Blockchain Developer


View Profile WWW
March 28, 2013, 12:50:32 AM
 #8

If you go with the auction forum, definitely use escrow.

btct.co is easier and safer than forum auctions.

btct.co is also easier (no weexchange in the way) and cheaper (transaction fees) than BitFunder.

I think you should mention that you dont buy asicminer shares there but instead passthroughs. So the buyer has a contract with you and you have a contract with friedcat instead the buyer has a contract with friedcat directly. Or can the passthrough shares exchanged to real shares?

If you buy PT shares on btct.co, they can be exchanged to real shares at any time without any minimum limits.
Rodyland
Hero Member
*****
Offline Offline

Activity: 499
Merit: 500


View Profile
March 31, 2013, 07:54:00 AM
 #9

Thanks everyone.

Beware the weak hands!
1NcL6Mjm4qeiYYi2rpoCtQopPrH4PyKfUC
GPG ID: E3AA41E3
MonkeyMarcel
Member
**
Offline Offline

Activity: 97
Merit: 10



View Profile
April 03, 2013, 07:01:06 PM
 #10

So if I understand correctly you cant buy directly from them? You must buy with bitcoin on btct.co?
creativex
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250



View Profile
April 03, 2013, 07:36:06 PM
 #11

Correct. Though sometimes there are private auctions on the forums. I recommend using the PTs as the liquidity is much higher.

Rodyland
Hero Member
*****
Offline Offline

Activity: 499
Merit: 500


View Profile
April 03, 2013, 08:18:39 PM
 #12

Correct. Though sometimes there are private auctions on the forums. I recommend using the PTs as the liquidity is much higher.


For my money, if you want to buy and hold either buy from a PT and convert (PTs only pass through 95% dividends) or buy on the auction forum.  If you intend to trade them, stick to a PT.

Beware the weak hands!
1NcL6Mjm4qeiYYi2rpoCtQopPrH4PyKfUC
GPG ID: E3AA41E3
creativex
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250



View Profile
April 03, 2013, 08:27:17 PM
 #13

I believe both pass throughs have waved their fees. At least for the time being.

burnside
Legendary
*
Offline Offline

Activity: 1092
Merit: 1004


Lead Blockchain Developer


View Profile WWW
April 03, 2013, 09:13:50 PM
 #14

Correct. Though sometimes there are private auctions on the forums. I recommend using the PTs as the liquidity is much higher.


For my money, if you want to buy and hold either buy from a PT and convert (PTs only pass through 95% dividends) or buy on the auction forum.  If you intend to trade them, stick to a PT.

Fees are waived for now.  Waiting to see what ASICMINER decides to do for an exchange.

Even if it goes long-term, the fee for https://btct.co/security/ASICMINER-PT is 1% at 5,000 shares, and 0.5% at 10,000 shares.  So with about 4k more shares, you'd get 99.5% of your divs.  Wink  Definitely worth it I think if you think you'll ever need liquidity.  (Eg, something happens in your life and you need to dump 'em quick.)

Cheers.


bitjet
Hero Member
*****
Offline Offline

Activity: 696
Merit: 500



View Profile
April 04, 2013, 05:28:22 AM
 #15

Im confused as to when these divedens are payed and how long are they payed for?
Rodyland
Hero Member
*****
Offline Offline

Activity: 499
Merit: 500


View Profile
April 04, 2013, 05:40:05 AM
 #16

Im confused as to when these divedens are payed and how long are they payed for?

Dividend day is Wednesday.  If you're a direct holder you get two transactions - one with one satoshi per share held, and another with the dividend.

If you are holding via a passthrough, it depends on the PT.

As for how long they are paid for - if you mean what I think you mean, the answer is "as long as ASICMINER continues to make profits".  Which hopefully is a very, very long time.

Beware the weak hands!
1NcL6Mjm4qeiYYi2rpoCtQopPrH4PyKfUC
GPG ID: E3AA41E3
MonkeyMarcel
Member
**
Offline Offline

Activity: 97
Merit: 10



View Profile
April 04, 2013, 06:21:48 AM
 #17

Dividend day is Wednesday.  If you're a direct holder you get two transactions - one with one satoshi per share held, and another with the dividend.

Is there a way to get direct shares other than waiting for an auction on forum?
Rodyland
Hero Member
*****
Offline Offline

Activity: 499
Merit: 500


View Profile
April 04, 2013, 06:37:01 AM
 #18

Dividend day is Wednesday.  If you're a direct holder you get two transactions - one with one satoshi per share held, and another with the dividend.

Is there a way to get direct shares other than waiting for an auction on forum?

Generally you can buy PT shares and then transfer them.  Some PTs charge for this, others don't.  The details should be in the information (prospectus?  Cheesy) associated with the PT on the exchange.

Beware the weak hands!
1NcL6Mjm4qeiYYi2rpoCtQopPrH4PyKfUC
GPG ID: E3AA41E3
MonkeyMarcel
Member
**
Offline Offline

Activity: 97
Merit: 10



View Profile
April 04, 2013, 07:37:13 AM
 #19

Dividend day is Wednesday.  If you're a direct holder you get two transactions - one with one satoshi per share held, and another with the dividend.

Is there a way to get direct shares other than waiting for an auction on forum?

Generally you can buy PT shares and then transfer them.  Some PTs charge for this, others don't.  The details should be in the information (prospectus?  Cheesy) associated with the PT on the exchange.

Brilliant. Thanx Rody! I have registered on btct and I am SO going to go this route.
maxmint
Hero Member
*****
Offline Offline

Activity: 700
Merit: 500



View Profile
April 04, 2013, 09:16:05 AM
 #20

Since this is the dummy thread, I post a couple of questions regarding btct.co:
- If I buy PTs there, do I get dividends? Or are dividens only for real shares?
- How will dividends get transferred to me? Will they be sent to my btct.co account and I can then withdraw?
- How can I convert PTs?

My PGP-Key: 462D02D8
Verify my messages using keybase: https://keybase.io/maxmint
Pages: [1] 2 3 4 5 6 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!