ASICMINER Speculation Thread

[bitcoin.newsfeed]

Thanks for sharing, it appears there are several things on the horizon.

Yes, "in two weeks" ... meanwhile we're still hashing under 10% of network for more than 3months, still under 100Th ... without knowing, where are hashing that "fully populated rows" from photos, without updates about chip development progress and without communicating at all.

Btw on that very important blockchain based exchange will be zero fees, if I read it correctly.

[FWGR]

Thanks for sharing, it appears there are several things on the horizon.

Btw on that very important blockchain based exchange will be zero fees, if I read it correctly.

That's how I read it too.  Hopefully it's a translation thing, that wouldn't make much sense to me otherwise.

edit: also, thanks Franktank for posting the transcript

[KS]

Btw on that very important blockchain based exchange will be zero fees, if I read it correctly.

Zero fees from AM, but you still have to pay the BTClockchain transaction fee.

Maybe I got it all wrong but I'm not too convinced by this: slow transactions (6 confirms) and high fees (posting a bid/ask is also a transaction).

Waiting for the brazed cat's engrish version.

[bitcoin.newsfeed]

Zero fees from AM, but you still have to pay the BTClockchain transaction fee.

Yes, so zero profit for company. So why is the mining company investing resources,time,people,focus on something like this, if we don't have competitive hashing chips ... i really don't get it.

EDIT : Also :
Upcoming scheduled to be happening (in time order):

Imminent repricing according to the market and the quantity.  LEAK (Cube)
Immersion cooling exhibition. LEAK
Blockchain-based exchange out of pre-alpha LEAK

Great PR !

[KS]

Yes, so zero profit for company. So why is the mining company investing resources,time,people,focus on something like this, if we don't have competitive hashing chips ... i really don't get it.
...

There is a listing fee. Make it 30BTC like at MPex, or more since that's the only fee. Scammer friendly exchange. 

[ewibit]

There is a listing fee. Make it 30BTC like at MPex, or more since that's the only fee. Scammer friendly exchange. 

@this time:
make a listing fee
Make it 0.50BTC to prohibit Scammers...

[Vycid]

Yes, so zero profit for company. So why is the mining company investing resources,time,people,focus on something like this, if we don't have competitive hashing chips ... i really don't get it.
...

There is a listing fee. Make it 30BTC like at MPex, or more since that's the only fee. Scammer friendly exchange. 

You must be joking. 30 BTC is well over $10k these days.

[ewibit]

You must be joking. 30 BTC is well over $10k these days.

[KS]

Yes, so zero profit for company. So why is the mining company investing resources,time,people,focus on something like this, if we don't have competitive hashing chips ... i really don't get it.
...

There is a listing fee. Make it 30BTC like at MPex, or more since that's the only fee. Scammer friendly exchange. 

You must be joking. 30 BTC is well over $10k these days.

MPex charges 30BTC for trading accounts, why not make it so for listings too? (Or 100, or 1000BTC? It's a one time fee on an "unseizable" exchange.)

mpex.co/faq.html
"...I will be required to pay 30 BTC as fees for registering this account..."

[ewibit]

MPex charges 30BTC for trading accounts, why not make it so for listings too? (Or 100, or 1000BTC? It's a one time fee on an "unseizable" exchange.)

mpex.co/faq.html
"...I will be required to pay 30 BTC as fees for registering this account..."

like club of Vladimir?
 

[jimmothy]

Yes, so zero profit for company. So why is the mining company investing resources,time,people,focus on something like this, if we don't have competitive hashing chips ... i really don't get it.
...

There is a listing fee. Make it 30BTC like at MPex, or more since that's the only fee. Scammer friendly exchange. 

You must be joking. 30 BTC is well over $10k these days.

MPex charges 30BTC for trading accounts, why not make it so for listings too? (Or 100, or 1000BTC? It's a one time fee on an "unseizable" exchange.)

mpex.co/faq.html
"...I will be required to pay 30 BTC as fees for registering this account..."

mpex is a failure of an exchange and anyone who uses it deserves to lose at least 30btc..

And I don't think FC ever said they would be developing any decentralized exchange but that the exchange (either colored coins or mastercoin) was out of alpha and they would consider moving the entire DB to the blockchain. I could be wrong and they might actually be developing a decentralized exchange of their own which would be a waste of time but I doubt this is the case.

[KS]

MPex charges 30BTC for trading accounts, why not make it so for listings too? (Or 100, or 1000BTC? It's a one time fee on an "unseizable" exchange.)

mpex.co/faq.html
"...I will be required to pay 30 BTC as fees for registering this account..."

like club of Vladimir?
 

Only needs 2.1 or the right listings

[KS]

Yes, so zero profit for company. So why is the mining company investing resources,time,people,focus on something like this, if we don't have competitive hashing chips ... i really don't get it.
...

There is a listing fee. Make it 30BTC like at MPex, or more since that's the only fee. Scammer friendly exchange. 

You must be joking. 30 BTC is well over $10k these days.

MPex charges 30BTC for trading accounts, why not make it so for listings too? (Or 100, or 1000BTC? It's a one time fee on an "unseizable" exchange.)

mpex.co/faq.html
"...I will be required to pay 30 BTC as fees for registering this account..."

mpex is a failure of an exchange and anyone who uses it deserves to lose at least 30btc..

And I don't think FC ever said they would be developing any decentralized exchange but that the exchange (either colored coins or mastercoin) was out of alpha and they would consider moving the entire DB to the blockchain. I could be wrong and they might actually be developing a decentralized exchange of their own which would be a waste of time but I doubt this is the case.

MPex's revenue are, ironically or not, perfectly in line with the owner's philosophy, IMO. He's the one laughing all the way to the bank

RE the decentralized exchange, it might simply be a better way for FC to manage shares and let the users and the PT operators manage the various comings and goings. Depending on the investment, it might not be a bad solution (I don't think it's viable as a trading platform, but this might be another useful feature).

[Lohoris]

There is a listing fee. Make it 30BTC like at MPex, or more since that's the only fee. Scammer friendly exchange. 

@this time:
make a listing fee
Make it 0.50BTC to prohibit Scammers...

?

How in hell having a 0.50BTC fee would "prohibit Scammers"?

[velacreations]

I wonder if a 30 btc listing fee would have prevented the Labcoin scam?

[KS]

I wonder if a 30 btc listing fee would have prevented the Labcoin scam?

Probably not. What's 30BTC when you expect 7000BTC in return?

[ex-trader]

The only thing that stops scammers is proper due diligence on the issuers by the exchanges.

[damiano]

The only thing that stops scammers is proper due diligence on the issuers by the exchanges.

Would you agree then Burnside is partially to blame?

[velacreations]

But why is this in a AsicMiner thread?

I have no idea, to be honest.  I guess the original point was about AM making an exchange with listings fees as a deterrent to scammers.  My point was that a listing fee doesn't really do that, or maybe it just cuts out the smaller scammers (that investor due diligence would likely  do anyway).

Would you agree then Burnside is partially to blame?

He's certainly guilty of listing a scam operation on his exchange, but I don't think anyone can blame him for the actions of the scammers.  

[ex-trader]

The only thing that stops scammers is proper due diligence on the issuers by the exchanges.

Would you agree then Burnside is partially to blame?

I didn't follow Labcoin, so don't know the specifics, but at the very least I'd expect the exchange to have proved the identity of the borrowers with addresses, passports and photos. For a completely new company raising money, there is little that can be checked on the company itself, as there's nothing much to do due diligence on (historic records, performance etc) and therefore the risk of the 'idea' is for the investor to determine.

However the investors in Labcoin should know exactly who the issuers were so that they and the authorities can pursue them - that is 100% the responsibility of the exchange. I don't know if this is the case or not.