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Ozymandias
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November 11, 2013, 10:22:48 PM |
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Ken,
Once our shares become tradeable again, what will the starting price per share be set to?
I don't believe the share price will be "set" to anything, the market will determine a price |
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granitemouse
Newbie
 Offline
Activity: 45
Merit: 0
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November 11, 2013, 10:25:32 PM |
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Ken,
Once our shares become tradeable again, what will the starting price per share be set to?
I don't believe the share price will be "set" to anything, the market will determine a price Am I wrong that there has to be a starting price? Such as the last price they were listed on bitfunder. When Ken listed shares on cryptostocks, they started at .001. |
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tom.hashemi
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November 11, 2013, 10:26:11 PM |
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VMC Sales:
3rd Quarter 2013 $1,404,217
October 2013 $520,898
Total Sales YTD $1,925,115
Very nice. Finally got round to transferring my shares over to AMC-TENDER. |
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granitemouse
Newbie
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Activity: 45
Merit: 0
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November 11, 2013, 10:30:47 PM |
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VMC Sales:
3rd Quarter 2013 $1,404,217
October 2013 $520,898
Total Sales YTD $1,925,115
Very nice. Finally got round to transferring my shares over to AMC-TENDER. Tom, I dig that you use your name and an image of yourself on your account. I think that would change things when people get irate and start insulting each other on here if they actually saw who they were dealing with. Very cool. |
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minerpart
Sr. Member
Offline
Activity: 280
Merit: 250
IIIIII====II====IIIIII
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November 11, 2013, 10:32:30 PM |
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Ken,
Once our shares become tradeable again, what will the starting price per share be set to?
I don't believe the share price will be "set" to anything, the market will determine a price Am I wrong that there has to be a starting price? Such as the last price they were listed on bitfunder. When Ken listed shares on cryptostocks, they started at .001. That was to ensure people could do a like for like swap and not lose any shares. I'm guessing this is how it will happen - shares will be put on the exchange in users accounts to the full total of 10Mill, the exchange will then be opened for trading. Nothing will be in the asks and bids untill holders want to buy or sell so the order book will start empty. Then trading will begin and sellers will sell at what they want to and buyers will buy at what they want to pay. |
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Ozymandias
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November 11, 2013, 10:33:21 PM |
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Ken,
Once our shares become tradeable again, what will the starting price per share be set to?
I don't believe the share price will be "set" to anything, the market will determine a price Am I wrong that there has to be a starting price? Such as the last price they were listed on bitfunder. When Ken listed shares on cryptostocks, they started at .001. I'm not exactly sure how it would work then, would Ken announce a price and ask people to trade at it? It would instantly devolve into what the market thinks the shares are worth.
I'm guessing this is how it will happen - shares will be put on the exchange in users accounts to the full total of 10Mill, the exchange will then be opened for trading. Nothing will be in the asks and bids untill holders want to buy or sell so the order book will start empty. Then trading will begin and sellers will sell at what they want to and buyers will buy at what they want to pay.
That was much better put than I could muster, thanks! |
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granitemouse
Newbie
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Activity: 45
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November 11, 2013, 10:35:24 PM |
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Ken,
Once our shares become tradeable again, what will the starting price per share be set to?
I don't believe the share price will be "set" to anything, the market will determine a price Am I wrong that there has to be a starting price? Such as the last price they were listed on bitfunder. When Ken listed shares on cryptostocks, they started at .001. That was to ensure people could do a like for like swap and not lose any shares. I'm guessing this is how it will happen - shares will be put on the exchange in users accounts to the full total of 10Mill, the exchange will then be opened for trading. Nothing will be in the asks and bids untill holders want to buy or sell so the order book will start empty. Then trading will begin and sellers will sell at what they want to and buyers will buy at what they want to pay. Oh, now I understand. Thank you, that makes total sense. |
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minerpart
Sr. Member
Offline
Activity: 280
Merit: 250
IIIIII====II====IIIIII
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November 11, 2013, 10:49:48 PM |
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No problem. You can also imagine the new exchange is like a big indoor vegetable market. All the stall holders are waiting inside with things to sell, then Ken opens the gates and lets all the buyers in.
The price for a bunch of bananas is set by the stall holder (seller) and that is only the price if the buyer agrees to it!
I won't be selling any of my bananas, I am waiting for them to grow into trees so I can harvest bunches from the lower branches - divs.
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kingcrimson
Legendary
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Activity: 1025
Merit: 1000
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November 11, 2013, 11:20:39 PM |
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So are these numbers actually a lot higher due to Bitcoin's rise? What does it mean for the company?
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Ozymandias
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November 12, 2013, 12:10:19 AM |
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So are these numbers actually a lot higher due to Bitcoin's rise? What does it mean for the company?
They may be a tiny bit higher or not higher at all since we likely take however much we earn from sales and shove it straight into easic, or whichever foundry we will be using (is this public info yet by the way?) allowing little time for price appreciation of btc. |
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hobbymd
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November 12, 2013, 12:41:52 AM |
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So are these numbers actually a lot higher due to Bitcoin's rise? What does it mean for the company?
They may be a tiny bit higher or not higher at all since we likely take however much we earn from sales and shove it straight into easic, or whichever foundry we will be using (is this public info yet by the way?) allowing little time for price appreciation of btc. isn't easic a fabless company?!! so which foundry we gonna use? |
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Ozymandias
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November 12, 2013, 01:01:28 AM |
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So are these numbers actually a lot higher due to Bitcoin's rise? What does it mean for the company?
They may be a tiny bit higher or not higher at all since we likely take however much we earn from sales and shove it straight into easic, or whichever foundry we will be using (is this public info yet by the way?) allowing little time for price appreciation of btc. isn't easic a fabless company?!! so which foundry we gonna use? Yes, easic is a fabless company, but they have partnered with foundaries such as Fujitsu and Chartered Semiconductor Manufacturing Pte, but I do not know which foundry easic will use for our 28nm chips. |
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madmax_ger
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November 12, 2013, 05:08:34 AM |
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Perhaps this is a dumb question but I am shareholder of ActM on BF and with BF closing down I wonder how this will work in future.
Do you already pay out dividends via the public btc address of the shareholders?
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drawingthesun
Legendary
Offline
Activity: 1176
Merit: 1015
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November 12, 2013, 05:29:32 AM |
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Perhaps this is a dumb question but I am shareholder of ActM on BF and with BF closing down I wonder how this will work in future.
Do you already pay out dividends via the public btc address of the shareholders?
dividends are paid to the bitcoin addresses yes. They are direct shares, even though ken refused to call them that, by definition that is exactly what they are since they are no longer listed on an exchange. You could theoretically sell them in an auction like asicminer shares if ken acted as escrow Ken would not have to act like escrow, friedcat used to refrain from being escrow. You would have someone else act like escrow, and all that happens on Ken's end is that you would prove you own your shares via signing the public address and then authorizing that another address is the new owner. |
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somestranger
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November 12, 2013, 05:34:23 AM |
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If they are put onto the "ActiveExchange" then Ken was talking about an escrow built into the site.
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bitmoon
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November 12, 2013, 06:08:55 AM |
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why hasn't the rest transfered yet? still so many on list
are they willing to let ukyo do the work?
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drawingthesun
Legendary
Offline
Activity: 1176
Merit: 1015
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November 12, 2013, 06:49:50 AM |
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I sort of worked how many chips would be need to gain 3% of the network. 3% of the network is my happy figure because it would bring in 0.0039 btc per share/year and on an open market the shares would be valued around 0.0025 - 0.006 if this was the case (And inside that margin exists my break even point)
To gain 3% of the network I assume we need 19,000 chips hashing at 16GH/s per chip. This results in 300TH/s which will for a short time be 3% of the network. If Ken can reinvest 50% and eASIC allows for a quick turnaround for new chips I see no reason 3% cannot be maintained.
What does everyone think about this?
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eikzbtc
Newbie
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Activity: 100
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November 12, 2013, 07:51:59 AM |
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I think its better reinvest 100% until we sit at 10% .
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drawingthesun
Legendary
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Activity: 1176
Merit: 1015
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November 12, 2013, 07:54:48 AM |
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I think its better reinvest 100% until we sit at 10% .
50% is fine, no need for 100% Just imagine it takes 8 months at 100% reinvested to get to 10% and then another competitor comes out and delays our 10% goal even more. Also many of us might need access to liquid Bitcoin and the dividend gives us that. |
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