ASICMINER Speculation Thread

[shawshankinmate37927]

In a lot of ways Friedcat himself seems to take a long view, too... good customer service, over-delivering, hefty dividends, never over-promising.  I suspect we'd get bought out before 10 years is up, though...

If friedcat and the folks at Bitfountain decided to accept a buy out offer at some point in the future, hopefully it would only be a buy out of the 236,038 shares that they own and not something that's forced on all shareholders.

Considering that 236,038 shares is a controlling interest in the company, you'd best hope they buy you out also, or they're gonna dilute your ass into next week.

If one individual was buying all of those shares and I was going to remain a shareholder, there would of course have to be an understanding that existing shareholders will not be diluted.  Each shareholder should be free to decide for themselves if they want to sell their stake in ASICMiner based on their own judgement/criteria.
Personally, if Bitfountain does decide to sell their shares one day, I would prefer to see them sold to different buyers so there isn't one single controlling interest.

[1714678275]

1714678275

[Vycid]

In a lot of ways Friedcat himself seems to take a long view, too... good customer service, over-delivering, hefty dividends, never over-promising.  I suspect we'd get bought out before 10 years is up, though...

If friedcat and the folks at Bitfountain decided to accept a buy out offer at some point in the future, hopefully it would only be a buy out of the 236,038 shares that they own and not something that's forced on all shareholders.

Considering that 236,038 shares is a controlling interest in the company, you'd best hope they buy you out also, or they're gonna dilute your ass into next week.

If one individual was buying all of those shares and I was going to remain a shareholder, there would of course have to be an understanding that existing shareholders will not be diluted.  Each shareholder should be free to decide for themselves if they want to sell their stake in ASICMiner based on their own judgement/criteria.
Personally, if Bitfountain does decide to sell their shares one day, I would prefer to see them sold to different buyers so there isn't one single controlling interest.

Typically you would just get cash or shares of the parent company in a buyout. Dilution agreements are too complex and restrictive for the company going forward. Theoretically, Bitfountain could already issue about a zillion in-the-money stock options to themselves and make all your shares worthless, so we're running on trust as-is.

[Ninshatamoto]

In a lot of ways Friedcat himself seems to take a long view, too... good customer service, over-delivering, hefty dividends, never over-promising.  I suspect we'd get bought out before 10 years is up, though...

If friedcat and the folks at Bitfountain decided to accept a buy out offer at some point in the future, hopefully it would only be a buy out of the 236,038 shares that they own and not something that's forced on all shareholders.

Considering that 236,038 shares is a controlling interest in the company, you'd best hope they buy you out also, or they're gonna dilute your ass into next week.

If one individual was buying all of those shares and I was going to remain a shareholder, there would of course have to be an understanding that existing shareholders will not be diluted.  Each shareholder should be free to decide for themselves if they want to sell their stake in ASICMiner based on their own judgement/criteria.
Personally, if Bitfountain does decide to sell their shares one day, I would prefer to see them sold to different buyers so there isn't one single controlling interest.

Typically you would just get cash or shares of the parent company in a buyout. Dilution agreements are too complex and restrictive for the company going forward. Theoretically, Bitfountain could already issue about a zillion in-the-money stock options to themselves and make all your shares worthless, so we're running on trust as-is.

I would expect a mass exodus from ASICMINER at that point - Friedcat is the glue that holds it together, and I would want nothing to do with a new parent company.

[BitCsByBit]

BTC GARDEN has been locked. IPO cancelled with and buyback occurring in the next 24-48 hours.

Expect the share price to rise with the extra BTC's in investors hands.

[str4wm4n]

potentially enough btc to buy over 9000 shares! 

[freedomno1]

Quoting for Posterity and so it lasts longer
Why we have the speculation thread to avoid walls of text on the main XD
And heck not sure if AM will get most of that boost as others are scared or competitors in for an interesting few days

IMPORTANT NOTICE

Due to some unexpected legal risks we met last week, we have to, cancel this IPO and buyback/repurchase entire two million shares of BTCGARDEN we issued at btct.co.

We will buy back all shares with the whole price of 32064btc. I.e,we will pay for commissions to let all shareholders get back their Bitcoin with the price of 0.016btc/share.

I would like to say thank you & sorry to all of our investors/supporters/ potential investors in advance before I explain the whole affair. Thank you for all of your trust and support, sorry for the final decision we have made.

The whole story:

In August 05th , 2013, a chinese BTCer posted threads/mailed us several times at btcman.com with extreme bad tone, threatening that he need to inspect and review our company to see whether we are real and trustworthy, otherwise he would do something bad to us.  Being the nature of the business, such request can not be satisfied.  So we agreed that we could buy back his shares on btct.co.However,he asked for a higher price and require us to transfer the Bitcoin to him first.  We then searched for his email address and his account on net, what shocked us was that he has a long history of cyber-fraud activities in china, he did not even change his ID and email in the past several years and due to the terrible chinese laws, he has not been arrested.

With those information, we realize that we were being extorted and obviously refused to transfer first.We banned his account at btcman.com after he continued to attack us there. One day later, he opened a new thread at bitcointalk`s chinese board and post a reply at our official thread in chinese as you can find, saying full of lies and persuading other people to join his group to against us. Although he cannot even speak english, an english spoken shareholder still talked with him through IM software&google translator and helped him to find out some personal info of one of our staff of btcman.com. (not btcgarden).  The racketeer then reported our staff/sites/this BTC-IPO to police with several completely falsified evidences such as:
* He accused us of asking people in China to first buy bitcoin from btcsea.com and then use those bitcoins to purchase shares from btct.co.  This way, it would appear that we are collecting RMB almost directly from the end purchaser.  Fact:  we never did such thing, btcsea's traffic wasn't much different in those days of IPO as any other day before that.
* He accused us of ponzi scheme in our IPO, and claimed that he has lost of a lot of money because of that.  Fact: when he first started the thread on btcman.com, stock price was slight higher than IPO price.  After that, stock price stayed close to IPO price all those days, so how could he possibly have suffered massive lose because of this.  And he forgot to mention we agreed to purchase back the share at IPO price as long as he would transfer first so he could avoid the "MASSIVE" lose.(BTW:he has only 1 share of BTCGARDEN at the moment)

After discussing inside, we decide to stay away from the IPO at this point as the fairness of laws in this area are full of big uncertainties. We hardly undertake such an undefined risk especially with many scamers out there seemingly targeting the bitcoin companies in China .

(Latest update: currently, a lot of teams in china are planning IPO at BTC community ,some of them do not even have an creative & original prospectus ,which in our side,make this even more dangerous.)

We therefore have to give up this IPO and repurchase all issued shares. Hope all of you can understand this.


Procedures:

We have already confirmed the whole process with Burnside (manager of btct.co),

1 We will lock the trading of BTCGARDEN at btct immediately.
2 We will then send the whole 32064BTC and submit the repurchase request to Burnside from backstage, he will then run the proper script to execute this request ASAP.
3 All current shareholders will get your BTC back into your account immediately,at which point you can withdraw it freely.

All of above will be finished in 24-48 hours from the time you see this notice.

Future plan:

1 .We will not issue any other asset until we can fully build up our new company oversea(hopefully soon), or laws in China become clear about bitcoin (not hopefully, imo, many laws are intentionally vague so they can interpret them in a way that best suit their interest)

2. Our ASIC project will be switched to a "self-miner+seller"mode,i.e. we will only use our own money and mining-income to invest our enterprise and sell chips/mining-hardwares with only BTC and B2B accepted.  Needless to say, this will cause a huge funding shortage and we have no choice but to change our previous plan so much.

3. Btcman.com will be changed to an international site with english info included.(BTW:all english editors/journalists who are interested in this please mail us.  We have almost finished the new layout of btcman.com, as some of our members might already knew.)

4. Any questions/suggestions from our previous investors are very welcomed, please mail me through your email of btct account. (FYI: messages/mails with regards to direct-investment to us is discussible but please keep in mind that this mode will be very hard to most of you because you can not sell it as easy as stocks)

5. We have backed up the list of our investors, we will think about what we can do for all of you later on. (a discount for our hardwares/other products might be possible)

Again, thanks to all our supportors.

Finally, special thanks to a big name at Bitcoin community, whom might not want his id be mentioned here despite he has already been well known as a nice & successful BTCer.

[mechs]

This will be a short-term bounce for both AM and its competitors.  Most of these investors will want to re-invest their BTC, the majority in another mining concern.

[freedomno1]

This will be a short-term bounce for both AM and its competitors.  Most of these investors will want to re-invest their BTC, the majority in another mining concern.

I'm more nervous about this threat and extortion stuff in China since this makes it Avalon and BTCgarden now two does not make a trend but within a short duration of each other, its worth noting and considering.
Personally I think Friedcat has proven himself well and has less to worry about that said it doesn't hurt to send in a shareholder question to update the status.

I agree it will be a short term bounce but the mining security concerns might be a short term factor for a while as well

[mechs]

This will be a short-term bounce for both AM and its competitors.  Most of these investors will want to re-invest their BTC, the majority in another mining concern.

I'm more nervous about this threat and extortion stuff in China since this makes it Avalon and BTCgarden now two does not make a trend but within a short duration of each other, its worth noting and considering.
Personally I think Friedcat has proven himself well and has less to worry about that said it doesn't hurt to send in a shareholder question to update the status.

I agree it will be a short term bounce but the mining security concerns might be a short term factor for a while as well

I don't know how anyone does business in china - so damn corrupt.

[101111]

I don't know how anyone does business in china - so damn corrupt.

Yeah, not like Wall St 

[culexevilman]

BTC GARDEN has been locked. IPO cancelled with and buyback occurring in the next 24-48 hours.

Expect the share price to rise with the extra BTC's in investors hands.

thats why I brought as soon as I saw that BTCGARDEN IPO is cancelled.

[ImI]

I don't know how anyone does business in china - so damn corrupt.

Yeah, not like Wall St 

Wall Street = Exchhange

China = State

So if you wanna compare those then compare China to the US.

And no, the US is not even close when it comes to corruption. Everyone who has lives in China for some time and did business will gurantee you that.

[jdany]

I don't know how anyone does business in china - so damn corrupt.

Yeah, not like Wall St 

Wall Street = Exchhange

China = State

So if you wanna compare those then compare China to the US.

And no, the US is not even close when it comes to corruption. Everyone who has lives in China for some time and did business will gurantee you that.

Thank you for not letting stupid backslapping comments go unchallenged.

[101111]

I don't know how anyone does business in china - so damn corrupt.

Yeah, not like Wall St 

Wall Street = Exchhange

China = State

So if you wanna compare those then compare China to the US.

And no, the US is not even close when it comes to corruption. Everyone who has lives in China for some time and did business will gurantee you that.

I "gurantee" you are wrong:

http://en.wikipedia.org/wiki/Wall_Street is the financial district of New York City,[2] named after and centered on the eight-block-long, 0.7 miles (1.1 km) long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial sector (even if financial firms are not physically located there), or signifying New York-based financial interests.

[ImI]

I don't know how anyone does business in china - so damn corrupt.

Yeah, not like Wall St 

Wall Street = Exchhange

China = State

So if you wanna compare those then compare China to the US.

And no, the US is not even close when it comes to corruption. Everyone who has lives in China for some time and did business will gurantee you that.

I "gurantee" you are wrong:

http://en.wikipedia.org/wiki/Wall_Street is the financial district of New York City,[2] named after and centered on the eight-block-long, 0.7 miles (1.1 km) long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial sector (even if financial firms are not physically located there), or signifying New York-based financial interests.

Doesnt matter one bit.

Compare Wall Street to the Chinese financial sector. OK.

or

Compare China to the US. OK.

But dont do those goofy wannabe comparisons while whining about the so evil Wall Street.

If you wanna compare then compare Wall Street with the Chinese financial sector.

[101111]

I don't know how anyone does business in china - so damn corrupt.

Yeah, not like Wall St 

Wall Street = Exchhange

China = State

So if you wanna compare those then compare China to the US.

And no, the US is not even close when it comes to corruption. Everyone who has lives in China for some time and did business will gurantee you that.

I "gurantee" you are wrong:

http://en.wikipedia.org/wiki/Wall_Street is the financial district of New York City,[2] named after and centered on the eight-block-long, 0.7 miles (1.1 km) long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial sector (even if financial firms are not physically located there), or signifying New York-based financial interests.

Doesnt matter one bit.

Compare Wall Street to the Chinese financial sector. OK.

or

Compare China to the US. OK.

But dont do those goofy wannabe comparisons while whining about the so evil Wall Street.

If you wanna compare then compare Wall Street with the Chinese financial sector.

Of course it matters you fucking retard.

[ImI]

I don't know how anyone does business in china - so damn corrupt.

Yeah, not like Wall St  

Wall Street = Exchhange

China = State

So if you wanna compare those then compare China to the US.

And no, the US is not even close when it comes to corruption. Everyone who has lives in China for some time and did business will gurantee you that.

I "gurantee" you are wrong:

http://en.wikipedia.org/wiki/Wall_Street is the financial district of New York City,[2] named after and centered on the eight-block-long, 0.7 miles (1.1 km) long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial sector (even if financial firms are not physically located there), or signifying New York-based financial interests.

Doesnt matter one bit.

Compare Wall Street to the Chinese financial sector. OK.

or

Compare China to the US. OK.

But dont do those goofy wannabe comparisons while whining about the so evil Wall Street.

If you wanna compare then compare Wall Street with the Chinese financial sector.

Of course it matters you fucking retard.

Becoming insulting. Thats all you got? LOL!

In terms of friedcat and ASICMINER we were talking about the corruption that usual businesses in china face EVERYDAY and the threats that is imposing to ASICMINER. Such corruption is simply not happening in the US. In china there is simply no jurisdiction that you can rely on. That means that a random functionary of the communist party can force you to pay him his new pool or tomorrow you wont be doing business anymore.

To complain and whine about evil wall street may or may not be justified, but in this context of ASICMINER and doing business in china it is simply annoying and missplaced.

[str4wm4n]

At least in China you can pay up and be free.
In the US you pay but don't get to be free.

do they take btc?

[101111]

Becoming insulting. Thats all you got? LOL!

You started with the personal insults, so that's another idiotic statement.

In terms of friedcat and ASICMINER we where talking about the corruption that usual businesses in china face EVERYDAY and the threats that is imposing to ASICMINER. Such corruption is simply not happening in the US. In china there is simply no jurisdiction that you can rely on. That means that a random functionary of the communist party can force you to pay him his new pool or tomorrow you wont be doing business anymore.

To complain and whine about evil wall street may or may not be justified, but in this context of ASICMINER and doing business in china it is simply annoying and missplaced.

My comment was 4 words spoken in jest you could have easily ignored; the complaining, whining, annoying, retarded missplaced goofy comments are all yours. Nice attempt to get back on topic though, let's keep it there.

[velacreations]

Too bad for the investors that bought shares above the IPO price...