### GRIDSEED Group-Buy Shares - Forum Added for Buyers ###

[thy]

I live within a few hours drive of Tulsa.  The device itself would possibly be useful in bitcoin meetings I founded here in the community and at the college I attend.  How many shares are necessary to own a whole unit given I come pick it up?

fasbit made a ruff estimate of 241 600 shares, 0,2461 btc earlier based on 160 usd per unit and 650 usd/btc, i guess he will have a better number today Thursday if he has converted btc to usd(or already have the necessary 35k usd available in fiat)  and orders the units today if usd bank transfer is the option gridseed take as payment for international customers.
Not sure what bank and payment options Gridseed has but if they have a European bank account they could take SEPA transfers and should have the money within 24 hrs max in there account, in that case delivery should be pretty fast of the units.

[thy]

Why was the IPO offer price chosen as 0.000001?  In order to purchase post IPO, it's a minimum double of the IPO price (0.000002).  Supposing the IPO purchased the Gridseed device for $180, post IPO one now needs to pay a minimum of $360 for the device.

If the offer price was 0.0001, a post IPO purchaser could offer 0.000101 or $181.80 using example above.

The price per 5chip device from the manufacturer is 160 usd and you will need to order a minimum of 200 miners from the manufacturer and spend some time and invest 32 000 usd+ if you would like to buy those miners yourself at that low price.
Stocks you can trade to and get in/out of whenever you like, if you buy 200 miners yourself it's a slightly bigger operation to get in/out of a position than just typing a price and pressing a button.


Compare GRID with other stocks investments and you see why people buy stocks at higher than introduction price.
The expected dividend/return will be high even when you buy at 0.000002 or higher.

Lets take a few example:
==================
People buy shares in CRYPTSY for 0.2 btc a stock, it's introduction price was 0,05 btc per stock so that's 4 times the introduction price for example that people pay there now, Cryptsy return around 0,2% per week in dividend if you buy it at 0.2 btc.

Some people even buy Vircurex stock for 0,1-0,15 btc and they have been in violation of there contract for soon 1 year now and pay 0% in monthly dividend and if you buy into Vircurex then your buying a share of a company that is at -1000 btc or something if you believe there numbers.

BSVM (bitcoiin mining) people buy shares for 0,06 btc and there dividend is around 0,2% per week.
GMP(BTC mining) people buy there shares at around 0,25 btc, dividend around 0,25% per week
MGMP(BTC mining) people buy there shares at around 0.000900 btc, dividend around 0,07% per week
==================

If you run the numbers for GRID you see that you can expect a retrurn of something like 9% or possibly even up to 17% per week on this share if you bought at 0,000001. but lets count low and say:
9,00% a week at 0,000001 btc per share
4,50% a week at 0,000002 btc per share
3,00% a week at 0,000003 btc per share
2,25% a week at 0,000004 btc per share
1,80% a week at 0,000005 btc per share
...
0,90% a week at 0,000010 btc per share
0,45% a week at 0,000020 btc per share
0,22% a week at 0,000040 btc per share

so even if you buy in at way higher than introduction price you will still make better profit on this share than most other shares on Cryptostocks, maby that answers your question.

[fasbit]

Why was the IPO offer price chosen as 0.000001?  In order to purchase post IPO, it's a minimum double of the IPO price (0.000002).  Supposing the IPO purchased the Gridseed device for $180, post IPO one now needs to pay a minimum of $360 for the device.

If the offer price was 0.0001, a post IPO purchaser could offer 0.000101 or $181.80 using example above.

You can also put in a BUY order at .000001 and buy shares from people who want to sell their shares.

[fasbit]

I live within a few hours drive of Tulsa.  The device itself would possibly be useful in bitcoin meetings I founded here in the community and at the college I attend.  How many shares are necessary to own a whole unit given I come pick it up?

fasbit made a ruff estimate of 241 600 shares, 0,2461 btc earlier based on 160 usd per unit and 650 usd/btc, i guess he will have a better number today Thursday if he has converted btc to usd(or already have the necessary 35k usd available in fiat)  and orders the units today if usd bank transfer is the option gridseed take as payment for international customers.
Not sure what bank and payment options Gridseed has but if they have a European bank account they could take SEPA transfers and should have the money within 24 hrs max in there account, in that case delivery should be pretty fast of the units.

I ran in to a snag on the conversion to USD.  CampBX my preferred vendor stopped doing ACH withdraws.  They now only issue paper checks.  I am working on a solution.  I have contacted Gridseed to try a work-around.  Still waiting on reply.

[jfunk138]

Why was the IPO offer price chosen as 0.000001?  In order to purchase post IPO, it's a minimum double of the IPO price (0.000002).  Supposing the IPO purchased the Gridseed device for $180, post IPO one now needs to pay a minimum of $360 for the device.

If the offer price was 0.0001, a post IPO purchaser could offer 0.000101 or $181.80 using example above.

You can also put in a BUY order at .000001 and buy shares from people who want to sell their shares.

I think everyone is missing my point.  Since the smallest unit of value on the exchange is 0.000001, the granularity of share pricing is far too high.  I'd pay 0.00000125 for 100,000 shares but the exchange doesn't give me that option.

If 1/100 of the shares had been IPO'd at 0.0001, I would be able to enter a buy at 0.000125 for 1,000 shares and have the same equivalent value.

[hasher87]

Why was the IPO offer price chosen as 0.000001?  In order to purchase post IPO, it's a minimum double of the IPO price (0.000002).  Supposing the IPO purchased the Gridseed device for $180, post IPO one now needs to pay a minimum of $360 for the device.

If the offer price was 0.0001, a post IPO purchaser could offer 0.000101 or $181.80 using example above.

You can also put in a BUY order at .000001 and buy shares from people who want to sell their shares.

I think everyone is missing my point.  Since the smallest unit of value on the exchange is 0.000001, the granularity of share pricing is far too high.  I'd pay 0.00000125 for 100,000 shares but the exchange doesn't give me that option.

If 1/100 of the shares had been IPO'd at 0.0001, I would be able to enter a buy at 0.000125 for 1,000 shares and have the same equivalent value.

you must be so pissed, missing out the lowest IPO price available for cryptostocks, and the only way to buy it is at the price of 2x of the IPO

[jfunk138]

Why was the IPO offer price chosen as 0.000001?  In order to purchase post IPO, it's a minimum double of the IPO price (0.000002).  Supposing the IPO purchased the Gridseed device for $180, post IPO one now needs to pay a minimum of $360 for the device.

If the offer price was 0.0001, a post IPO purchaser could offer 0.000101 or $181.80 using example above.

You can also put in a BUY order at .000001 and buy shares from people who want to sell their shares.

I think everyone is missing my point.  Since the smallest unit of value on the exchange is 0.000001, the granularity of share pricing is far too high.  I'd pay 0.00000125 for 100,000 shares but the exchange doesn't give me that option.

If 1/100 of the shares had been IPO'd at 0.0001, I would be able to enter a buy at 0.000125 for 1,000 shares and have the same equivalent value.

Here's the technical term for what I am referring to:
http://en.wikipedia.org/wiki/Tick_size

[fasbit]

Why was the IPO offer price chosen as 0.000001?  In order to purchase post IPO, it's a minimum double of the IPO price (0.000002).  Supposing the IPO purchased the Gridseed device for $180, post IPO one now needs to pay a minimum of $360 for the device.

If the offer price was 0.0001, a post IPO purchaser could offer 0.000101 or $181.80 using example above.

You can also put in a BUY order at .000001 and buy shares from people who want to sell their shares.

I think everyone is missing my point.  Since the smallest unit of value on the exchange is 0.000001, the granularity of share pricing is far too high.  I'd pay 0.00000125 for 100,000 shares but the exchange doesn't give me that option.

If 1/100 of the shares had been IPO'd at 0.0001, I would be able to enter a buy at 0.000125 for 1,000 shares and have the same equivalent value.

Here's the technical term for what I am referring to:
http://en.wikipedia.org/wiki/Tick_size

Its a valid point,  but I chose .000001 for several reasons. I think the advantages outweigh the disadvantages.  Rationale:
  1. To allow even the smallest investor a chance to participate.  (there were 1000's of single shares sold)
  2. The price of .000001 also set a minimum floor to protect initial investors.  i/e the price can't go lower.  Obviously the market could dry up, but price cant go down.
  3. The IPO price was designed to give early adopters maximum profitability options and therefore encourage investment.  i/e assuming I can deliver market and share value, the price is certain to increase.  Then the IPO stakeholders have the option to sell out or stay in... and can sell at or higher than the initial per share investment.  This gives them an extra incentive to invest.

Just put in a BUY order for .000001 and buy from the people who don't want to stay in...

/fasbit

[ManeBjorn]

I was able to buy into the IPO due to the share price.  It was great for me as I do not have much money or BTC.
This pricing setup allowed me to get 29000 shares.  I'm glad it was set this way.
Thanks again for thinking of those of us that do not have lots of money to invest.

[thy]

Galvin i saw your question in grid's own forum, (i haven't registered there) and you diden't get a good answer there i think. The correct answer is of course if you need the 1 btc you invested back fast and if you bought at the IPOprice 0.000001 then you can just put up a sellorder at 0,000001, there is buyorders for 3,5 million shares(3.5 BTC worth of shares) so it shouldent be any problem for you to get them sold.

If you on the other hand bought at 0.000002(or if you hope to make 1 btc profit and bought at 0.000001) you need keep your sellorder at 0.000002 wait until as many stocks have been bought from the sellorders that equals the amount that was put up at 0.000002 btc before your sellorder, then buy's at 0.000002 start eating into your sellorders.

As soon as the miners arrive and start generating btc's it should go pretty fast i suspect to tear down orders at 0.000002 and quite a bit up.

[ggc1ose]

As soon as the miners arrive and start generating btc's it should go pretty fast i suspect to tear down orders at 0.000002 and quite a bit up.

So if everybody knows it will go up, why don't they buy now?

[arbitrage001]

The law of investing is governed by return of investment and not by mathematics mechanic (in this case, tick size).

 

[solidminds]

Will there be any info on the mining proces once its up? Can we check how much income the miners generate?

[jfunk138]

Galvin i saw your question in grid's own forum, (i haven't registered there) and you diden't get a good answer there i think. The correct answer is of course if you need the 1 btc you invested back fast and if you bought at the IPOprice 0.000001 then you can just put up a sellorder at 0,000001, there is buyorders for 3,5 million shares(3.5 BTC worth of shares) so it shouldent be any problem for you to get them sold.

If you on the other hand bought at 0.000002(or if you hope to make 1 btc profit and bought at 0.000001) you need keep your sellorder at 0.000002 wait until as many stocks have been bought from the sellorders that equals the amount that was put up at 0.000002 btc before your sellorder, then buy's at 0.000002 start eating into your sellorders.

As soon as the miners arrive and start generating btc's it should go pretty fast i suspect to tear down orders at 0.000002 and quite a bit up.

Another option for galvin might be to sell his shares over the counter (bulletin board trading) for 1.5 satoshi (or some other fractional amount).  Obviously there is some risk to not using the exchange.  Given the number of trades at 2 satoshi, I bet he could find quite a bit of interest at 1.5 satoshi and skip the line to sell at 2 and still make a nice profit.

[fasbit]

IF you are a GRID shareholder, please log in and vote.  This is quick vote.

Vote is: 
1-Sell BTC now and place the order.
2-Hold off and wait until $620 USD
3-Hold off and wait until $640 USD.

[thy]

Will there be any info on the mining proces once its up? Can we check how much income the miners generate?

Not sure what degree of statistic they will provide but here's an estimate(coinwarz) for GRID based on todays btcprices and profitabillity based on the following: usd per btc 543,59(very low now would have been better to exchange yesterday at ~620 or next time up over 600 in my opinion), 160 usd/miner 164.467 inkl controller, 65 370 000 shares 7 watt scrypt only or 7+53=60w(Scrypt+SHA256), 0.09 usd/kwh, dual mining mode(scrypt+sha256) 300 kh scrypt+8gh/s btc or 350 kh/s scrypt only.

scrypt+sha256                                      ->inkl btc
                 per miner/day  or in usd         btc/day     btc/day    div per      div per share  exchange @    exchange @
                                     without with    with          all miners  share and  and week      600 usd/coin    650 usd/coin
                                     electr   electr  electr                      and day                       per week         per week
BEST scrypt 1/228,22 btc   2,38   2,37      0,005427   1,166 btc 1,784 sat  ~12sat/12%   ~14sat/14%    ~15sat/15%
DOGE          1/348,74 btc   1,56   1,55      0,003918   0,842 btc 1,288 sat ~9sat/9%       ~10sat/10%    ~11sat/11%
LTC            1/423,48 btc   1,28   1,27      0,003403   0,731 btc 1,118 sat ~8sat/8%       ~9sat/9%       ~9sat/9%
BTC            1/777,86 btc   0,70   0,58



scrypt only
                 per miner/day  or in usd         btc/day     btc/day    div per      div per share  exchange @    exchange @
                                     without with    with          all miners  share and  and week      600 usd/coin    650 usd/coin
                                     electr   electr  electr                      and day                       per week         per week
BEST scrypt 1/207,94 btc   2,61   2,60      0,004783   1,027 btc 1,572 sat  ~11sat/11%   ~12sat/12%    ~13sat/13%
DOGE          1/298,92 btc   1,82   1,80      0,003311   0,711 btc 1,088 sat ~8sat/8%       ~8sat/8%       ~9sat/9%
LTC            1/360,24 btc    1,51  1,49      0,002741   0,589 btc 0,901 sat ~6sat/6%       ~7sat/7%       ~8sat/8%

So in the ballpark of 8-15 satouchi per 100 sat share per week or 8-15% weekly return on investment if mining dual at the specified rates, if better firmware will be avaliable some seems to think they may produce around 500kh/s scrypt but it may be better to skip the extra 53 watts sha256 mining would add then if they will go up and run at such rates, the added heat in comparison to the return from it will hardly be worth the increase in temperature and risk for failures. Next difficultyincrease for btc looks to be around 25% so when miners arrive the btcmining(SHA256) part will be at around 0.44 usd/day at current usd/btc price.

[MickGhee]

got a great deal on ipo only got 400 shares tho had to sell p2pxpm  no buyers get another 1000

[closesat315am]

i hope they went ahead and sold the btc right when the round closed, it is going down now, eek, i hope my shares are still enough for one full physical unit

[thy]

i hope they went ahead and sold the btc right when the round closed, it is going down now, eek, i hope my shares are still enough for one full physical unit

fasbit has sold 65 BTC at an avg price of 601.46 USD/BTC on Coinbase a couple of days ago(26 feb i think), fasbit posted the info on there forum then. He expect to have the cash on or before the 3 Mars and wire the money to Gridseed the same day he gets the cash.

[thy]

To reply to what was mentioned in gridseeds forum, picture 31 is the gridseed product and it appears to have the correct CE marking see this http://ec.europa.eu/enterprise/images/ce_mark_big.gif for example and there is cases where the identification number must not follow the CE marking on the product.