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mechs
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August 06, 2013, 04:24:24 AM |
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That's not true.
if btct.co is taken down, the asset issuer will use the last BTC-TC Shareholder Report he has received (they receive it once a day AFAIK). So the only issue to solve is the first 24 hours from time of trade and it could be minimized by buying just a few shares each day up to the amount one would need.
Also, PTs can be "transformed" into direct shares without any costs at any time if more than 50 shares or once a month if less than that.
Don't be mad at me, I just want to allow everyone to know the truth. My intention is not to make harder to you to dump your shares and my advice to you would be to transfer your shares to btc-tc and sell them there, you would be able to sell them much faster and with less risk.
Adriano
You still have a third-part risk with PT Shares. I am sure burnside is honest, but he is not only the issuer of the asset, he is also admin of btct. So in theory he could do whatever he wants, move shares to his account and dump them for example. Or btct can get hacked and the attacker dumps your shares - you don't have that risk with direct shares. That risk is minimal - friedcat is a very honest man and if burnside ever did that, friedcat would take action. I believe that friedcat is honest and extremely reliable considering his history, but realistically any online investment is a extremely high risk investment in the fringe of legality, including AsicMiner's. Security Exchanges (bitfunder, btct.co and havelock, etc...) on the other hand are directly illegal, so I don't really care if their admins are good willed, they can be shut down any minute just like GBLSE. In any case, if you put a passthrough in between you and your shares, you are adding an extra point of failure. These will not sell at 4.5 or even 4.2. Your best bet would be to convert them to PT shares and then sell them slowly on the exchange. Conversion is free afterall |
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chriswilmer
Legendary
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Activity: 1008
Merit: 1000
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August 06, 2013, 04:40:29 AM |
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They would probably sell at 4.2
I'm curious about his week's dividend.
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Adriano
Staff
Legendary
Offline
Activity: 1285
Merit: 1085
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August 06, 2013, 04:53:27 AM |
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That's not true.
if btct.co is taken down, the asset issuer will use the last BTC-TC Shareholder Report he has received (they receive it once a day AFAIK). So the only issue to solve is the first 24 hours from time of trade and it could be minimized by buying just a few shares each day up to the amount one would need.
Also, PTs can be "transformed" into direct shares without any costs at any time if more than 50 shares or once a month if less than that.
Don't be mad at me, I just want to allow everyone to know the truth. My intention is not to make harder to you to dump your shares and my advice to you would be to transfer your shares to btc-tc and sell them there, you would be able to sell them much faster and with less risk.
Adriano
You still have a third-part risk with PT Shares. I am sure burnside is honest, but he is not only the issuer of the asset, he is also admin of btct. So in theory he could do whatever he wants, move shares to his account and dump them for example. Or btct can get hacked and the attacker dumps your shares - you don't have that risk with direct shares. That risk is minimal - friedcat is a very honest man and if burnside ever did that, friedcat would take action. I believe that friedcat is honest and extremely reliable considering his history, but realistically any online investment is a extremely high risk investment in the fringe of legality, including AsicMiner's. Security Exchanges (bitfunder, btct.co and havelock, etc...) on the other hand are directly illegal, so I don't really care if their admins are good willed, they can be shut down any minute just like GBLSE. In any case, if you put a passthrough in between you and your shares, you are adding an extra point of failure. These will not sell at 4.5 or even 4.2. Your best bet would be to convert them to PT shares and then sell them slowly on the exchange. Conversion is free afterall +1 |
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mechs
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August 06, 2013, 04:53:35 AM |
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They would probably sell at 4.2
I'm curious about his week's dividend.
I think that would be the max and I don't think he would sell them all. It seems like people are not willing to pay a premium anymore for PT shares. The increased liquidity of PT is more of a draw than any perceived risk of PT shares. I think burnside has earned trust in the community and most people expect friedcat would not tolerate him cheating people even if he did go to the dark side. As a result, the PT shares have very little perceived risk associated with them. |
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Adriano
Staff
Legendary
Offline
Activity: 1285
Merit: 1085
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August 06, 2013, 05:00:56 AM |
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They would probably sell at 4.2
I'm curious about his week's dividend.
I think that would be the max and I don't think he would sell them all. It seems like people are not willing to pay a premium anymore for PT shares. The increased liquidity of PT is more of a draw than any perceived risk of PT shares. I think burnside has earned trust in the community and most people expect friedcat would not tolerate him cheating people even if he did go to the dark side. As a result, the PT shares have very little perceived risk associated with them. You can just buy PT shares and transfer them to direct share at no cost at all... so burnside has little influence in the process (just while you buy them and wait for the transfer). Anyway, friedcat know about btc-tc role in the market and wouldn't allow any "mistake" from them taking advantage from investors. |
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mechs
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August 06, 2013, 02:14:26 PM |
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They would probably sell at 4.2
I'm curious about his week's dividend.
I think that would be the max and I don't think he would sell them all. It seems like people are not willing to pay a premium anymore for PT shares. The increased liquidity of PT is more of a draw than any perceived risk of PT shares. I think burnside has earned trust in the community and most people expect friedcat would not tolerate him cheating people even if he did go to the dark side. As a result, the PT shares have very little perceived risk associated with them. You can just buy PT shares and transfer them to direct share at no cost at all... so burnside has little influence in the process (just while you buy them and wait for the transfer). Anyway, friedcat know about btc-tc role in the market and wouldn't allow any "mistake" from them taking advantage from investors. Exactly. I mean it would be a mess if burnside tried to cheat people, but it would not make him any profit. All PT shares are is Friedcat sending the dividends to burnside's address. If burnside tried to "steal" the shares, Friedcat would simply stop transferring him dividends until he sorted out the actual ownership. Zit would be a huge mess, but burnside would not make a dime in the process, hence the minimal risk. the only real risk is your btct account being hacked and the shares stolen, that would be something Friedcat probably could not help you with. This would not be a worry with direct shares. |
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mechs
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August 07, 2013, 04:55:45 AM |
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Bitslame,
You should have accepted by bid when I offered it. With the way Asicminer is tanking, you are not going to find a better one anytime soon. Looks like the beginning of a selling panic in the midst - only news tomorrow that exceeds expectations will offset it. Then again, friedcat has done that many times before, so I would not be surprised. By Thursday this will either be well under 3.5 or back up close to 4.0
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TheAndy500
Sr. Member
Offline
Activity: 1232
Merit: 266
> CAMPAIGN MANAGER < https://t.me/TheAndy500
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August 07, 2013, 02:20:28 PM |
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Bitslame,
You should have accepted by bid when I offered it. With the way Asicminer is tanking, you are not going to find a better one anytime soon. Looks like the beginning of a selling panic in the midst - only news tomorrow that exceeds expectations will offset it. Then again, friedcat has done that many times before, so I would not be surprised. By Thursday this will either be well under 3.5 or back up close to 4.0
He should panic sell because people are going to panic sell? Good one. |
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Ozymandias
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August 07, 2013, 02:27:46 PM |
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Bitslame,
You should have accepted by bid when I offered it. With the way Asicminer is tanking, you are not going to find a better one anytime soon. Looks like the beginning of a selling panic in the midst - only news tomorrow that exceeds expectations will offset it. Then again, friedcat has done that many times before, so I would not be surprised. By Thursday this will either be well under 3.5 or back up close to 4.0
He should panic sell because people are going to panic sell? Good one. He who panics first panics best |
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bitsalame (OP)
Donator
Hero Member
Offline
Activity: 714
Merit: 510
Preaching the gospel of Satoshi
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August 07, 2013, 04:42:44 PM |
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Panic sells? The depth of these exchanges is so shallow, that literally anyone can manipulate the trend up or down at wish.
There is nothing wrong with this company, and a price lower than 4 is just fictitious and makes no freaking sense. This week we had an increment of dividends, all the way to 0.024571 btc per share... and the market is crashing? Hahaha, damn fools thanks for the cheap shares.
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