[BitFunder] IPO - BIT.ASIC - Professional Miners offer low entry price of 0.0084

[EskimoBob]

And for fuck sake, please put together a balance sheet etc reports so we can see what this adventure is worth right now.

It's not that hard and I can probably do it for you... for few BTC

[coinminers]

We could not be happier with the reception and support we have received by the community. BIT.ASIC would like to thank everyone for their questions, feedback and investments made thus far.

First Month Highlights:

* 10,000 shares were snapped up by the community and are in the hands of shareholders

* We have increased our total hashing power from 65GH/s to 185GH/s with the funds raised thus far, these are purchased and confirmed orders. We also raised enough to place our next order to further increase the total hashing power from 185GH/s to 285GH/s - details regarding this new purchase will be released soon.

* Dividends Paid since the June 3rd IPO:

Date Shares Price Per Total
2013-07-03 17:23:35 10,000 ฿0.00000058 ฿0.00580000
2013-06-29 15:48:55 10,000 ฿0.00000334 ฿0.03340000
2013-06-20 11:52:12 10,000 ฿0.00000174 ฿0.01740000
2013-06-13 14:13:56 5,000 ฿0.00000287 ฿0.01435000
2013-06-06 11:43:53 5,000 ฿0.00000282 ฿0.01410000

[CMMPro]

So....1 USB miner could produce more of a dividend then what you are spreading weekly between 10,000 shares right now?

Am I reading that correctly?

[coinminers]

So....1 USB miner could produce more of a dividend then what you are spreading weekly between 10,000 shares right now?

Am I reading that correctly?

The current dividends are just from parking money in ASICMINER shares and are by no means reflective on what we're going to be paying out in future.

[coinminers]

News Update: BIT.ASIC - Professional Miners has purchased an additional 100GH/s to increase hashing power to (285GH/s)

We are happy to announce that we have raised enough Bitcoin to further increase our total hashing power. Our primary goal and our commitment to investors is to reinvest the capital raised into mining hardware to build a large scale mining operation. As promised we have acted on this goal and with the purchase of the new mining rig we have more than quadrupled our total hashing power in just 31 days from the June 3rd 2013 IPO launch. We will continue to re-invest funds raised in that fashion.

BIT.ASIC Equipment Purchased to date:

We have purchased the following Bitcoin ASIC Mining Equipment:

Butterfly Labs Orders:

Order # 16897, pay-dated 1/18/2013, for 1 Butterfly Labs (5 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100049260, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100031677, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100067004, pay-dated 6/16/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

NEW Order # 100069703, pay-dated 7/1/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

KnCMiner Orders:

NEW Order #3246, pay-dated 7/3/2013, for 1 KnCMiner (100 GH/s Mercury Bitcoin Miner) (Purchased and Confirmed)

[Slipage]

I am very disturbed that they are trying to raise $100k to pay for $5k worth of gear.

I'm sorry, I may have mistyped or mis-spoken somewhere. Where now did I say that we'll keep 100k to ourselves to cash in on 5k of mining equipment.

I'm asking because that would obviously be an embarrassing and silly thing to propose on this forum an it wouldn't be worth a millisecond of anybody's time on here.

What do you mean by "where's the contact info"? Our contact info is right in the posting, plus you have our contact info on this forum. Let me know if you need anything beyond that.

How about some better contacts details to verify your Id.
A free mail address and forum user name won't cut it with me Incase you suddenly disappear.

Eg, psychical address , ph number, eBay feedback, previous successful dealings ... Not hard since its all business ?

[coinminers]

https://bitfunder.com/asset/BIT.ASIC

News Update: BIT.ASIC - Professional Miners has purchased an additional 400GH/s to increase hashing power to (685GH/s)

We are happy to announce that we have further increased our total hashing power. Our primary goal and our commitment to investors is to reinvest the capital raised into mining hardware to build a large scale mining operation. As promised we have acted on this goal and with the purchase of the new mining rig we have significantly increased our total hashing power in just 51 days from the June 3rd 2013 IPO launch. We will continue to re-invest funds raised in that fashion.

BIT.ASIC Equipment Purchased to date:

We have purchased the following Bitcoin ASIC Mining Equipment:

Butterfly Labs Orders:

Order # 16897, pay-dated 1/18/2013, for 1 Butterfly Labs (5 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100049260, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100031677, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100067004, pay-dated 6/16/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

Order # 100069703, pay-dated 7/1/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

KnCMiner Orders:

Order #3246, pay-dated 7/3/2013, for 1 KnCMiner (100 GH/s Mercury Bitcoin Miner) (Purchased and Confirmed)

NEW Order #4345, pay-dated 7/23/2013, for 1 KnCMiner (400 GH/s Jupiter Bitcoin Miner) (Purchased and Confirmed)

Current Total Hashing Power Purchased: 685 GH/s

BIT.ASIC operates ASIC Bitcoin mining equipment which results in mining Bitcoins for income.

[coinminers]

We are happy to announce that we have finally received our first Bitcoin Asic Mining Rig from Butterfly Labs.

Butterfly Labs Orders: check out the images tab for screen shots and pictures of hardware we have received that are currently in production.

* Hardware Received on 8/27/13 for Order # 16897, pay-dated 1/18/2013, for 1 Butterfly Labs (5 GH/s Bitcoin Miner) (Purchased, Confirmed, Hardware Received, and Actively Hashing around 5.5GH/s) this asset started mining on 8/27/13

Order # 100049260, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100031677, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100067004, pay-dated 6/16/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

Order # 100069703, pay-dated 7/1/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

KnCMiner Orders:

Order #3246, pay-dated 7/3/2013, for 1 KnCMiner (100 GH/s Mercury Bitcoin Miner) (Purchased and Confirmed)

NEWEST Order #4345, pay-dated 7/23/2013, for 1 KnCMiner (400 GH/s Jupiter Bitcoin Miner) (Purchased and Confirmed)

* Total Purchased Hashing Power: 685GH/s

** Total Hashing Power: 5.5GH/s - Actively Mining

*** Dividends: will be paid every Sunday

About the Issuer:

We are a team of IT professionals & business owners with expertise in the fields of server hardware / infrastructure and web engineering.

Alongside our ongoing mining activities, we recently launched Bit.co.in which offers the crypto-currency community a free address shortener. This is a launch pad for many ideas we have for the developing community.

We are actively involved in the forums.

Bitcoin Talk user profile: coinminers

Butterfly Labs user profile: bit.co.in

Feel free to contact us at:

Email: info@bit.co.in

Facebook: https://www.facebook.com/bitcoinshortener

[coinminers]

We are excited to announce that one of the manufacturers BIT.ASIC has early orders with has finally revealed their revised hashing power estimates.

KnCMiner announced on Sep 30th 2013 that their 28nm standard cell ASIC mining chips (which are being designed exclusively for KnCMiner by ORSoC) has the following hashing capabilities:

- The Jupiter that was expected to mine at 400 GH/s now has a hashing speed of 550 GH/s to ~576+GH/s.

- The Mercury that was expected to mine at 100 GH/s now has a hashing speed of ~137 GH/s to ~144+GH/s.

Why is this important to BIT.ASIC and its Investors?

We have purchased a total of ~905 GH/s where the majority of the hashing power is coming from KnCMiner. The following is a complete list of Bitcoin ASIC Mining Equipment Purchased:

Butterfly Labs Orders: check out the images tab for screen shots and pictures of hardware we have received that are currently in production.

* Hardware Received on 8/27/13 for Order # 16897, pay-dated 1/18/2013, for 1 Butterfly Labs (5 GH/s Bitcoin Miner) (Purchased, Confirmed, Hardware Received, and Actively Hashing around 5.5GH/s) this asset started mining on 8/27/13

Order # 100049260, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100031677, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100067004, pay-dated 6/16/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

Order # 100069703, pay-dated 7/1/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

KnCMiner Orders:

Order #3246, pay-dated 7/3/2013, for 1 KnCMiner (100 GH/s Mercury Bitcoin Miner) (Purchased and Confirmed) with the Sep 30th news update from the manufacturer this unit is now estimated to perform at 137+ GH/s

Order #4345, pay-dated 7/23/2013, for 1 KnCMiner (400 GH/s Jupiter Bitcoin Miner) (Purchased and Confirmed) with the Sep 30th news update from the manufacturer this unit is now estimated to perform at 550+ GH/s  - they demonstrated this unit performing at 576 GH/s on their YouTube channel

* Total Purchased Hashing Power: ~905 GH/s

Stay tuned for shipping and delivery updates which will be coming soon!

[coinminers]

We are excited to announce that KnCMiner has confirmed a shipping timeline for the BIT.ASIC orders totaling between 680 GH/s to 720 GH/s.

KnCMiner Orders: The following orders are confirmed to ship by October 15th 2013.

Order #3246, pay-dated 7/3/2013, for 1 KnCMiner (~137+ GH/s Mercury Bitcoin Miner) (Purchased and Confirmed) with the Sep 30th news update from the manufacturer this unit is now estimated to perform at 137+ GH/s which was previously thought to produce ~100 GH/s

Order #4345, pay-dated 7/23/2013, for 1 KnCMiner (550+ GH/s Jupiter Bitcoin Miner) (Purchased and Confirmed) with the Sep 30th news update from the manufacturer this unit is now estimated to perform at 550+ GH/s - they demonstrated this unit performing at 576 GH/s on their YouTube channel - this unit was previously thought to produce ~400 GH/s

[supermono]

I read Ukyo's announcements about the BitFunder policy changes, and saw the news announcement from October 9 on the asset page ( https://bitfunder.com/asset/BIT.ASIC ). Any updates? Havelock would be a great exchange to move to; unfortunately, I heard they are not accepting new assets right now. Cryptostocks and 796.com both are accepting assets though, and I think are actively recruiting former BitFunder issuers to move to their exchanges, so you could likely get a good deal from one of them in terms of waived listing fees etc.

[coinminers]

I read Ukyo's announcements about the BitFunder policy changes, and saw the news announcement from October 9 on the asset page ( https://bitfunder.com/asset/BIT.ASIC ). Any updates? Havelock would be a great exchange to move to; unfortunately, I heard they are not accepting new assets right now. Cryptostocks and 796.com both are accepting assets though, and I think are actively recruiting former BitFunder issuers to move to their exchanges, so you could likely get a good deal from one of them in terms of waived listing fees etc.

Yes, we're exploring CryptoStocks. It's looking good so far and we're also practicing the mechanism to transfer shares for existing shareholders.

[coinminers]

We are happy to announce that we have received one of our KnC Miners today: Hardware Received on 10/18/13 for Order #3246, pay-dated 7/3/2013, for 1 KnCMiner (140-150 GH/s Mercury Bitcoin Miner) (Purchased and Confirmed) with the Sep 30th news update from the manufacturer this unit is now estimated to continue performing at 140-150 GH/s which was previously thought to produce ~100 GH/s

Full List of Hardware ordered:

Butterfly Labs Orders: check out the images tab for screen shots and pictures of hardware we have received that are currently in production.

* Hardware Received on 8/27/13 for Order # 16897, pay-dated 1/18/2013, for 1 Butterfly Labs (5 GH/s Bitcoin Miner) (Purchased, Confirmed, Hardware Received, and Actively Hashing around 5.5GH/s) this asset started mining on 8/27/13

Order # 100049260, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100031677, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)

Order # 100067004, pay-dated 6/16/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

Order # 100069703, pay-dated 7/1/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)

KnCMiner Orders:

Hardware Received on 10/18/13 for Order #3246, pay-dated 7/3/2013, for 1 KnCMiner (140-150 GH/s Mercury Bitcoin Miner) (Purchased and Confirmed) with the Sep 30th news update from the manufacturer this unit is now estimated to perform at 140-150 GH/s which was previously thought to produce ~100 GH/s

Order #4345, pay-dated 7/23/2013, for 1 KnCMiner (550+ GH/s Jupiter Bitcoin Miner) (Purchased and Confirmed) with the Sep 30th news update from the manufacturer this unit is now estimated to perform at 550+ GH/s - they demonstrated this unit performing at 576 GH/s on their YouTube channel - this unit was previously thought to produce ~400 GH/s

* Total Purchased Hashing Power: ~905GH/s

** Total Hashing Power: 145-155 GH/s - Actively Mining

*** Dividends: paid every Sunday


(Note: Some of these numbers have been updated since our Bitfunder news post because we've had some more time to tweak and observe the hashing power on our KnC miner.)

[Blank]

I think I understand but could you clarify what is going to happen to the asset on Bitfunder. Will the asset still remain open or will it all be frozen or de-listed on November 1st, as an European i would prefer to keep my shares on Bitfunder if that is still an option. Also what are you going to do with the people that cannot claim before the 1st of November? it's only about 4 days away so there will probably be a significant amount of people missing this deadline.

[sparky999]

I have transferred my shares and sent email, when will I get confirmation?

[coinminers]

I think I understand but could you clarify what is going to happen to the asset on Bitfunder. Will the asset still remain open or will it all be frozen or de-listed on November 1st, as an European i would prefer to keep my shares on Bitfunder if that is still an option. Also what are you going to do with the people that cannot claim before the 1st of November? it's only about 4 days away so there will probably be a significant amount of people missing this deadline.

We are going to try to keep paying dividends for all shares on Bitfunder after November 1st but the problem is that Bitfunder may simply delist us. So I recommend you transfer into our direct management until we find another solution.

[coinminers]

I have transferred my shares and sent email, when will I get confirmation?

Will send confirmation shortly. The next dividend payout will already go to your submitted address.

[coinminers]

URGENT - If you do not verify ownership of your shares via this method by the BitFunder imposed deadline which is November 1st 2013, your bonds and accrued dividends may have to be absorbed by Bit.co.in. We will most likely have no way to contact you or pay you your dividends if you do no follow these instructions.

The following limitations apply:

1. You must initiate this transfer request before November 1, 2013 - which is the BitFunder imposed deadline

How to Transfer Shares:

1. On BitFunder transfer all your BIT.ASIC shares to the issuer account: Bit.co.in

2. Send an e-mail to info@bit.co.in and note the following:

a) Make the subject of your email: BIT.ASIC
b) Your BitFunder account name
c) Your Bitfunder wallet address
d) The quantity of BIT.ASIC shares you transferred to Bit.co.in
e) Your payment address for future dividend payments

3. Please do NOT send your request more than once, and do NOT include other requests, questions or comments.

Transfers will be transferred in batches, and confirmations will ONLY be sent after each batch. Please Do NOT send emails requesting updates.

NOTE: BIT.ASIC is not responsible for any lost value, arbitrage, or trading opportunities due to delays in processing transfer requests. BIT.ASIC is not responsible for any limitations or discontinuations of services or access to liquidity imposed by the host exchanges.

[Atompeace]

Hello Bitfunder,

I am sorry that I am late, but I got back from holidays today and checked my bitfunder-account just to get shocked about the shutdown. Didn't know about that.
So I will transfer my shares to the account stated TODAY - although it's 5 days late - this should still work.

I hope you understand my panic and it's still possible to transfer the shares to direct divident payment?
Please confirm.

Thanks alot!

[lagmo]

Got caught out too, will transfer as soon as possible.