Now what in the HECK is ASICMiner?!

[MagicBit15]

I keep seeing people "buying shares" and I have been googling to try and found out some info and alas I cannot. Could anyone help a newbie out and explain quick??

[razorfishsl]

Basically it is a  'scheme'

Someone who wants to 'hold' hardware but does not want to put up the cash, gets a load of people to buy 'shares' in the mining throughput of the hardware, whilst they charge a % for electricity and hosting.


The shares *may* pay a % return.

Problem with many of these schemes is that they are setup without proper legal protection so if it goes tits up, or the person runs off with the hardware, then there is little you can do.

You pay's your money and you's takes your chances........

[ibite]

ASICMiner are building a mining farm with their own ASIC chips. Unlike Avalon, they are not selling the chips/hasing modules. But you could invest in the company and get monthly dividends.

[nuhash]

Another alternative is pyramining.com, you pay a deposit which will buy you X amount of hashing power until your deposit and dividend is paid back, you can increase the dividend by chaining your own referral accounts or adding referrals (You can refer yourself an account and that will increase the dividend or you can refer others)

[razorfishsl]

And yet an even better solution would be to take your wad of Sweaty cash over to mtgox and buy some bit coins.

In the last 5 months the price is up nearly 800%.......

[prostcoins]

basically:

they mine bitcoins using their own hardware/ASIC's
they take out a fee from the total profits
they then divide the remaining profit among how many "shares" are outstanding in total.
this is called a dividend. depending on how many shares you own, you get so many pieces of the total profit.

[Jutarul]

https://bitcointalk.org/index.php?topic=99497.0

It's a crowd funded project, which started in 8/2012. It's the first serious ASIC powered mining farm. Buying shares will grant you the privilege to dividends and any future value appreciation of the company bitfountain.

[razorfishsl]

And yet an even better solution would be to take your wad of Sweaty cash over to mtgox and buy some bit coins.

In the last 5 months the price is up nearly 800%.......

Sorry 1500%, even if you took my advice you would have made  70% on your money in 5 days!!!!

[scouzi]

I keep seeing people "buying shares" and I have been googling to try and found out some info and alas I cannot. Could anyone help a newbie out and explain quick??

I believe they are testing right now in the BTC Guild mining pool (And it shows)!