Asicminer share purchase

[RippleCoins]

Hi i've been reading about asicminer recently and I want to purchase some shares.

I understand direct shares are better and the simplest way is to buy on the forum whenever they are available. This is fine by me except I don't want to get ripped off or have to wait for an auction to end.

The other alternative I see is to use the online exchanges but I have read there are much higher risks associated with shares being pass through than a direct. Plus I like to receive dividends to an address I own anyway.

The thing is, while i've been reading about asicminer and figuring out how to obtain some, the share prices are just been rising daily.

Am I thinking too much and I should just go ahead an find whatever shares available I can get my hands on now?

[Cyberclones]

You do have the option of converting asicminer-pt shares to direct shares once a month at btct.co so might be worth looking at doing that to start.

[DigitalMan]

Let me know if  you find some at a good rate.  I would like to add more to my holdings.  thanks

[kkhan]

Is there a website where one can get more information on buying shares?

[Alphi]

I bought some ASICMINER-PT shares a few weeks ago on BTC-TC thought i was skeptical at first my skepticism started to vanish when I saw the dividends come rolling in automatically. now the share price has almost doubled since I invested.. (since the USB block eruptors started shipping)

IMO USB block eruptors are a bad investment for anyone who buys them but a cash cow for the guys selling them.
Just look back to the gold rush days and see how many people made it rich selling shovels.

I think considering this is the wild west, you should always do your due diligence and only put down as much money as you are willing to lose.

If you are uncomfortable taking the risk then it probably means you are thinking about investing too much.
If you don't have money to burn (virtual or otherwise) then I would recommend the TAT.ASICMINER shares which represent 100th of a PT share.

essentially the same thing just in smaller packages.

I think the current price of ASICMINER-PT (about 4.47BTC at the time of writing) seems a little steep and might end up correcting some point in the near future.. but judging by the number of people complaining about how "unfair" ASICMiners dominance is in the market the share the price may very well skyrocket even further.

Please do you DD and don't risk more than you can... take my advice for what its worth.

Just the 2c of a longtime stock investor... (I pretty much just play on virtual markets to sharpen my skills)

Peace

[DrGregMulhauser]

PT shares for ASICMINER are also available on Bitfunder.

The ASICMINER website is at asicminer.co, while Friedcat's main ASICMINER thread on the forum is here:

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

As far as I can tell, there doesn't seem to be a dedicated news source just for ASICMINER, so you'll have to wade through quite a bit of third party commentary on the bitcointalk.org thread.

[yimfinity]

i've been looking to buy some as well. it has skyrocketed in the last few days. no one can read to tea leaves to know if there will be some type of pull back. the dividend is nice. at one point it was around a 60% payout. it seems to vary quite a bit so might be hard to predict what it will be for the forward coming year.

I bought some ASICMINER-PT shares a few weeks ago on BTC-TC thought i was skeptical at first my skepticism started to vanish when I saw the dividends come rolling in automatically. now the share price has almost doubled since I invested.. (since the USB block eruptors started shipping)

IMO USB block eruptors are a bad investment for anyone who buys them but a cash cow for the guys selling them.
Just look back to the gold rush days and see how many people made it rich selling shovels.

I think considering this is the wild west, you should always do your due diligence and only put down as much money as you are willing to lose.

If you are uncomfortable taking the risk then it probably means you are thinking about investing too much.
If you don't have money to burn (virtual or otherwise) then I would recommend the TAT.ASICMINER shares which represent 100th of a PT share.

essentially the same thing just in smaller packages.

I think the current price of ASICMINER-PT (about 4.47BTC at the time of writing) seems a little steep and might end up correcting some point in the near future.. but judging by the number of people complaining about how "unfair" ASICMiners dominance is in the market the share the price may very well skyrocket even further.

Please do you DD and don't risk more than you can... take my advice for what its worth.

Just the 2c of a longtime stock investor... (I pretty much just play on virtual markets to sharpen my skills)

Peace

[frito]

hi
1.whats the easiest and safest way to buy the shares?

2.What is keeping asicminer to invalidate your shares holdings at any time or just stop paying dividend out?
Or is there a legal contract when buying the shares?

3. whats the difference between PT and regular shares?

thx

[Alphi]

Hi frito im relatively new at share trading in Bitcoin stocks too but from what I gather the answers are as follows.


1. I'm using btct.co and all i had to do was set up an account put in some bitcoins and then start buying.
(dividend payments are automatic and credited to your bitcoin address within the exchange.. so they automatically become trading capital)

There are disclaimers all over the site warning you that.. "this is beta".. "this is a virtual stock exchange simulation".. "we offer no implicit protection against scams".. etc etc etc

they are the same risks as with using any Bitcoin related service.

as with anything virtual currency related.. the onus is on the USER to do their own research and take adequate steps to protect their investment.
 the industry is entirely unregulated and if things do go belly up there isn't much legal recourse one can take. (yet)

now with that being said.. so far so good.. I haven't been scammed out of anything yet.

2. Nothing is keeping ASICMiner from invalidating your shares other than the free market and the trust of the shareholders.
Just like nothing is keeping the ASICMiner guys from running 51% of the the entire network hashing power and taking complete control of the BITCOIN network.
nothing except if they did that then the entire market would lose confidence and all the shares and coins they have would effectively become worthless over night.

3. as I understand it.. and my understanding is a little shaky here.. 1 PT share (or the shares you can buy at any of the exchanges) represents the value of 1 Actual share..  so in effect you have all the same rights as an actual shareholder except the ability to vote for control of the company. (with your virtual shares you can collect dividends, vote on motions, buy and sell them etc etc etc.) As I understand it the only way you can buy Actual/Regular shares in ASICMiner is to buy them directly from a person who owns them and is willing to part with them. Note: this further point probably goes back to point 2. There are a select number of early adopters who own actual shares in ASICMiner.. it is in their best interests to maintain confidence in their company and the market as a whole (because they benefit directly from price rises) these select few are the only ones who have actual direct control over the finances and management of the company.

(someone can correct me if I am wrong here)

[bitfromit]

bitfunder.com
btct.co
havelockinvestments.com

Just seen that asicminer has a new "unofficial" site: https://asicminer.info/

[Bostjan]

I'm interested too.

[DrGregMulhauser]

bitfunder.com
btct.co
havelockinvestments.com

Note that the version of passthrough shares which trade on Havelock -- which was set up by ThickAsThieves (TAT) last month -- charges a 5% fee against dividends. The TAT passthrough fund on BTCT.co charges the same. By comparison, the PT shares offered by burnside on BTCT.co do not currently charge a fee against dividends. If you'd like to receive the full dividend, the TAT version of the passthrough is best avoided.

[runam0k]

I'd definitely recommend buying passthrough (e.g. on btct.co) rather than direct in the first instance. The price has shot up recently, so better to grab the most liquid form just in case things change and you decide to cash out quickly. It would be well worth the nominal fees.

If you're happy with your shares and see them as long(er) term investments, you can always take them out of btct.co (i.e. convert them to direct shares).

[bitfromit]

bitfunder.com
btct.co
havelockinvestments.com

Note that the version of passthrough shares which trade on Havelock -- which was set up by ThickAsThieves (TAT) last month -- charges a 5% fee against dividends. The TAT passthrough fund on BTCT.co charges the same. By comparison, the PT shares offered by burnside on BTCT.co do not currently charge a fee against dividends. If you'd like to receive the full dividend, the TAT version of the passthrough is best avoided.

Thanks for that detail. to quote "https://btct.co/security/ASICMINER-PT"
"As long as burnside owns 51% or more of BTC Trading Corp there will be no management fee.
If burnside's ownership of BTC Trading Corp drops below 51%, A management fee of 0.5% will be levied on each dividend payment"

5% is a bit much.

[runam0k]

If burnside's ownership of BTC Trading Corp drops below 51%, A management fee of 0.5% will be levied on each dividend payment"

5% is a bit much.

5% would be a bit much, if that's what it said.

[towtoad]

what is the price of ASICMINER stock today?

[bitfromit]

4.55 BTC https://btct.co/security/ASICMINER-PT

[DrGregMulhauser]

If burnside's ownership of BTC Trading Corp drops below 51%, A management fee of 0.5% will be levied on each dividend payment"

5% is a bit much.

5% would be a bit much, if that's what it said.

True, but bitfromit was not referring mistakenly to 5% in the quoted text -- but rather in my previous reply. If you check the details for the TAT version of the passthrough, you'll find:

"Each TAT.ASICMINER share has the right to 95% of its respective dividends. 5% will be retained for asset management fees."

https://btct.co/security/TAT.ASICMINER

On TAT's own exchange, the fee is the same.