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Author Topic: ASICMINER for dummies?  (Read 13495 times)
Dabs
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May 07, 2013, 03:43:48 AM
 #81

uh... quick questions:

1. How much is 1 share? (don't care if it's direct or PT)
2. How much is the dividend for 1 share? (or how much was it last Wednesday?)

I'm mildly curious about this, but as you can tell, it's not easy to get. (both the coins, and the share.)

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May 07, 2013, 03:50:20 AM
 #82

uh... quick questions:

1. How much is 1 share? (don't care if it's direct or PT)
2. How much is the dividend for 1 share? (or how much was it last Wednesday?)

I'm mildly curious about this, but as you can tell, it's not easy to get. (both the coins, and the share.)

1. Who knows? It currently ranges from 1.2 (on PT) up to 1.7/1.8. Others have speculated its still undervalued with what friedcat and co have planned for ASICMiner.

2. Currently .005 - .007 but https://bitcointalk.org/index.php?topic=99497.msg1767379#msg1767379
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May 07, 2013, 04:28:08 AM
 #83

So, people are speculating that the value of each individual share is going up? Conversely, people are also speculating that the value of the respective dividends will also go up?

Right now, it doesn't make sense. It makes sense only in that, you can sell your share later for a bit higher than you got it. In the meantime, you're getting 0.005 per week.

Hmmm.. I need to get some bitcoins to buy some shares and see where this will take me.

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May 07, 2013, 09:02:29 PM
 #84

So, people are speculating that the value of each individual share is going up? Conversely, people are also speculating that the value of the respective dividends will also go up?

Right now, it doesn't make sense. It makes sense only in that, you can sell your share later for a bit higher than you got it. In the meantime, you're getting 0.005 per week.

Hmmm.. I need to get some bitcoins to buy some shares and see where this will take me.

technically, it's more like .007 per share per week, or at 1.2 btc per share, that's about 30% per year.  That's a decent return for your investment, plus the share value.

The dividends will be increasing with all the new hash power.  We were getting .007 btc per share at about 7.5-8 TH/s.  We're now close to 20 TH/s.

I think people are speculating that the share price will not decrease.  So, really, you are storing bitcoins in shares and earning 30% a year interest.


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May 07, 2013, 09:56:32 PM
 #85

What are current thoughts opinions, regarding:

  • G.ASIMINER.PT at Bitfunder
  • ASICMINER.PT at BTC-TC
  • ASICMINER with friedcat

As my initial investment has doubled in value, I'm now holding more assets in a passthrough than I'd like. I appreciate the possibility of selling (liquidity) but at the same time, I plan to hold on for dividends for at least a year. I figure with the passthrough I'm really taking on triple the risk, as the exchange could fail/close, the pass-through operator could keel over, and/or friedcat could get hit by a meteor.

If I just held shares with friedcat, I'd lose liquidity but I figure I'd cut my risk of catastrophic loss by 66%.

I know this is mostly obvious, but as this is the dummies board, I thought I'd gauge what others are thinking.

Is friedcat/ASICminer opening up an exchange any time soon? Perhaps after current ASIC deployment?
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May 07, 2013, 11:03:39 PM
 #86

What are current thoughts opinions, regarding:

  • G.ASIMINER.PT at Bitfunder
  • ASICMINER.PT at BTC-TC
  • ASICMINER with friedcat

As my initial investment has doubled in value, I'm now holding more assets in a passthrough than I'd like. I appreciate the possibility of selling (liquidity) but at the same time, I plan to hold on for dividends for at least a year. I figure with the passthrough I'm really taking on triple the risk, as the exchange could fail/close, the pass-through operator could keel over, and/or friedcat could get hit by a meteor.

If I just held shares with friedcat, I'd lose liquidity but I figure I'd cut my risk of catastrophic loss by 66%.

I know this is mostly obvious, but as this is the dummies board, I thought I'd gauge what others are thinking.

Is friedcat/ASICminer opening up an exchange any time soon? Perhaps after current ASIC deployment?

There's a pretty good plan in place should I die in a firey inferno.  Wink  See this: https://btct.co/faq (What happens if your main developer gets hit by a bus?), also quoted in the OP here: https://bitcointalk.org/index.php?topic=148350.msg1574481#msg1574481

Doesn't remove all of the risk.  But I think the risk to ASICMINER-PT holders is pretty low.
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May 07, 2013, 11:27:15 PM
 #87


There's a pretty good plan in place should I die in a firey inferno.  Wink  See this: https://btct.co/faq (What happens if your main developer gets hit by a bus?), also quoted in the OP here: https://bitcointalk.org/index.php?topic=148350.msg1574481#msg1574481

Doesn't remove all of the risk.  But I think the risk to ASICMINER-PT holders is pretty low.


Oh, I also realize that you (burnside) run both the ASICMINER-PT at BTC-TC and BTC-TC itself, so by my rudimentary calculations (assuming that all the exchanges and PT have "fiery inferno" contingencies), owning PT at BTC-TC poses 16% less "fiery inferno" risk, as there are only two entities (burnside and friedcat) to worry about rather than three (DeadTerra, friedat, bitfunder).
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May 07, 2013, 11:30:09 PM
 #88

There's a pretty good plan in place should I die in a firey inferno.  Wink 

How often do you practice that scenario to test whether the procedures work? :p

Seriously, although there is technically a risk that either PT operators would crash and die, records of transactions remain, and in such an event, seeing that both PT operators are well-known, I'm certain that a recreation of those transactions would be possible, even from backup. In addition, you get transaction details by email so it would be fairly simple to recreate your holdings from that, which of course would have to be verified and audited, but would still provide an extra level of assurance.

I'm considering the risk minor and thus I hold all my AM shares with burnside's PT. If you're not looking to sell at all, fine, you might as well hold them with friedcat, which reduces the risk of PT failure but in no way eliminates the risk of owning shares.

.b

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May 08, 2013, 02:19:36 AM
 #89

So, really, you are storing bitcoins in shares and earning 30% a year interest.

Not really. You use BTC to buy shares, just like you use USD to buy shares of Apple. However, there is no guarantee that those share values will stay the same. They may rise, they may fall. So you may have bought 1 AM-PT share at 1.2 BTC, but in a year, that share may only be worth 0.6 BTC. It's all speculation, and with that comes risk.

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May 08, 2013, 03:52:11 AM
 #90

Can I buy less than 1 share? I have less than 1.2 BTC right now.

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May 08, 2013, 04:03:46 AM
 #91

Can I buy less than 1 share? I have less than 1.2 BTC right now.

You can on the new PT/100's.  Thick as thieves runs one and fukurunap(?) runs the other.

Also
All asks are > 1.29 on the passthroughs... Perhaps the last chance for AM shares under 1.25/share!

https://bitcointalk.org/index.php?topic=196273.new#new
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May 08, 2013, 04:07:12 AM
 #92

Can I buy less than 1 share? I have less than 1.2 BTC right now.

You can on the new PT/100's.  Thick as thieves runs one and fukurunap(?) runs the other.

No, I don't. TAT runs both (on BTCT and Bitfunder) and there's a third pending on BTCT from Rodyland.

I just had the initial idea, but have no interest in operating a PT Smiley

.b

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May 08, 2013, 04:48:28 AM
 #93

Can I buy less than 1 share? I have less than 1.2 BTC right now.

You can on the new PT/100's.  Thick as thieves runs one and fukurunap(?) runs the other.

No, I don't. TAT runs both (on BTCT and Bitfunder) and there's a third pending on BTCT from Rodyland.

I just had the initial idea, but have no interest in operating a PT Smiley

.b

I'm still trying to get mine off the ground.  In the meantime, you have TAT's offering on btct and bitfunder.

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May 08, 2013, 05:18:50 AM
 #94

https://bitfunder.com/asset/TAT.ASICMINER

https://btct.co/security/TAT.ASICMINER
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May 08, 2013, 08:51:17 AM
 #95

The dividends will be increasing with all the new hash power.  We were getting .007 btc per share at about 7.5-8 TH/s.  We're now close to 20 TH/s.

I think people are speculating that the share price will not decrease.  So, really, you are storing bitcoins in shares and earning 30% a year interest.


Yeah, I unexpectedly got some additional funds to invest in AM today but had to eat the wall to increase my holdings. I still think 1.3 is reasonable value but the buying isn't as good as it was over the weekend. Anyone who's seen that google doc graph would be drooling. I guess if there's a nice bump to the dividend or other good news from AM HQ it won't last long.

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May 08, 2013, 11:34:10 AM
 #96

The wall on btct.co is being eaten...

I usually give short shrift to speculation but now I'm long on AM-PT I couldn't help notice that the resistance to higher prices that was there earlier today has almost broken.

Not that I'm looking to make a quick profit; I think the future's too promising for that and I was going to buy anyway. But I'd be kicking myself if I had to settle for less shares tomorrow.

Now that I've shot my mouth off I guess the dividends report won't be as sexy as hoped.  Tongue

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May 08, 2013, 03:04:27 PM
 #97

dividend is about .011 btc per share this week

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May 08, 2013, 04:53:19 PM
 #98

I bought one AM-PT share last week. Dividends come out today right? But when I check my BTC-TC account, I didn't see any dividends received?

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May 08, 2013, 04:55:37 PM
 #99

I bought one AM-PT share last week. Dividends come out today right? But when I check my BTC-TC account, I didn't see any dividends received?

PT dividends usually take an hour or two more, because the dividends from AM is paid to the PT operator who then pays out to everyone else.

.b

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May 08, 2013, 04:56:35 PM
 #100

I bought one AM-PT share last week. Dividends come out today right? But when I check my BTC-TC account, I didn't see any dividends received?

Passthru's take a little longer. Don't worry, burnside will payout dividends once he logs.
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