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Author Topic: [CLOSED] PUREASIC: Shipped  (Read 4753 times)
wogaut
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July 08, 2012, 05:47:10 PM
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I am upgrading my FPGA miners from Butterfly Labs (BFL) to ASIC.

As many of you know, BFL offers dollar-for-dollar trade-in of up to 50% of the ASIC purchase price.  

To raise the funds required, I would like to give those who are interested in buying ASIC SC Singles from Butterfly labs a discount*, if they buy through me.

Furthermore, I would like to get individuals who don't want to purchase a whole ASIC SC Single the opportunity to get shares now and either have me mine for them (at full PPS, I charge no fees or energy cost, but the mining pool might charge a few percent for using PPS) with the option to purchase their equipment at the same discount* as people who get shares for full units.

So here's the deal:

I'm offering 9 SC Singles at a 15% discounted* rate from BFL's dollar price as shares. 200 shares equals one SC Single.  

If you hold 200 shares, you own the physical unit, and once they start shipping, you can request a shares transfer back to me in exchange for the hardware.  
This will be free shipping to the continuous US, for international shipping fees will apply.

Even if you opted to leave them hosted at my site, you can always request a shares transfer to receive the units later.  

Those who hold shares of less than 200, will receive PPS payout as a proportional fraction of hashing power for the hardware.
E.g. owning 100 shares will get you 50% hashing power of one SC Single.

The GLBSE listing PUREASIC will IPO on July 14 (next Saturday) at 10:00 EST (GLBSE time).

I will offer 1800 shares for 0.825BTC each, that is equal to 9 SC Singles at 165BTC.  

*Edit: Price discounts were limited to IPO

PUREASIC will IPO Saturday July 14 at 10:00am EST
Shares at IPO day (or purchase pre-IPO) will sell for 0.76 btc/share


You can find the GLBSE listing at:
https://glbse.com/asset/view/PUREASIC

Updates:

1800 Shares sold at IPO day.  

ASIC SC Singles order completed and confirmed by BFL for July, 15, 2012 order date.  

More full units (multiples of 200 shares) available on request (send PM)
(extra units sold outside GLBSE/PureASIC)

10/06/2012: As we know at this point, GLBSE has closed. All investors that own full units have been notified and their assets are being converted to private purchase agreements.

10/07/2012: All holders of full SC Single units (i.e. multiples of 200 shares) have been converted to private purchase agreements and received GPG signed contracts.

10/10/2012: Selling off the last SC Single, PM me if interested to buy

10/24/2012: Last SC Single sold! Payout of 0.825btc/share will commence for IPO share holders that own part of this unit (i.e. less than 200 shares).

10/29/2012: All known IPO investors are paid out for the remaining shares.  Final payouts are pending on receipt of the shareholder information from GLBSE/Nefario.

For those of you who own less than 200 shares at this point, please follow this thread for updates. GLBSE does not hold any BTC from PureASIC.

Also for those, who still own some shares less than 200, please go to GLBSE and fill out the claim form!

12/23/2012: Shareholder list received, all investors contacted, most have responded and are already paid

01/04/2013: Investor payout of remaining shares complete

06/30/2013: Order changed from "FPGA Pending" to "Processing". All buyers have been contacted and responded back.  

08/27/2013: Order has shipped from BFL, buyers should expect their individual tracking info by Friday.

08/31/2013: Most units have been shipped, some have 'special arrangements' by their owners and will follow soon.

09/09/2013: All units have been shipped.

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joshv06
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July 09, 2012, 05:07:46 AM
 #2

I call dibs on 2 :p.

wogaut
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July 13, 2012, 03:18:57 PM
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I'm getting a lot of PM and email responses on that listing (replying to them made me realize there's a limit on PMs/hour).  

I'm happy about the lively interest this is creating, and I would like to respond to a question that keeps coming up quite a bit:

Bitcoin prices are sky-rocketing, that means that the discount is shrinking in comparison to the exchange rate.
This is true and I'm not going to lock my price into the exchange rate (might as well sell it in $ then).  

I am watching the market and will announce a competitive discounted rate tonight.



wogaut
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July 13, 2012, 11:33:40 PM
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I updated the OP.

Shares can be bought now for 0.76 btc/share
200 shares buy you an ASIC SC Single for 152 btc.

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July 14, 2012, 12:16:52 AM
 #5

I updated the OP.

Shares can be bought now for 0.76 btc/share
200 shares buy you an ASIC SC Single for 152 btc.


I see you are not verified with GLBSE yet. I will have to wait until you get verified.

Thanks.

wogaut
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July 14, 2012, 12:58:34 AM
 #6

I updated the OP.

Shares can be bought now for 0.76 btc/share
200 shares buy you an ASIC SC Single for 152 btc.


I see you are not verified with GLBSE yet. I will have to wait until you get verified.

Thanks.

I have submitted my ID to Nefario several days ago, he has all the info.

His response was that he's in China and does not have access to all his internet resources, so he will get to it as soon as possible.


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July 14, 2012, 01:11:27 AM
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What happens between the IPO and the day you'll actually receive the ACIS's? Will you pay dividents? And if so, how much? Or is this just sort of a pre-order only not with BFL directly? :-)

wogaut
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July 14, 2012, 01:21:03 PM
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I updated the OP.

Shares can be bought now for 0.76 btc/share
200 shares buy you an ASIC SC Single for 152 btc.


I see you are not verified with GLBSE yet. I will have to wait until you get verified.

Thanks.

I have submitted my ID to Nefario several days ago, he has all the info.

His response was that he's in China and does not have access to all his internet resources, so he will get to it as soon as possible.



Update  on the ID verification process:

Nefario is trying to get it done today (he was traveling).
So far LinkedIn an email verification are complete.
Again, he has all the info for the complete verification.


wogaut
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July 14, 2012, 02:12:15 PM
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Nefario completed the ID verification.

Sorry for the delay.


wogaut
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July 14, 2012, 03:58:28 PM
 #10

Update:

PUREASIC has sold 1039 shares on the IPO day so far, there are currently 761 shares still available.  

So if you want to own a Butterfly Labs ASIC SC Single at a discount, get you shares now!
200 shares gives you ownership of the physical unit with free shipping to the continuous US (fees apply for international shipping).
As long as you own fewer than 200 shares, you will own a fraction of a SC Single, and I will mine for you free of service cost (except poll fees for PPS).

For IPO day I offer shares at 0.76 btc/share.  That's 152 btc per SC Single.  

Checking MTGox weighted average, this is currently a discount of 13% (compared to BFL $ price + shipping)!

Note: When you are purchasing shares, please kindly send me a forum PM too!
This is not necessary until BFL ASCIC SC Singles become available and you intend to exchange your shares in multiples of 200 for physical SC Singles. 

Cheers,
Wolfgang

wogaut
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July 14, 2012, 10:44:23 PM
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All the IPO assets up for sale have been sold.

I'll keep you updated on the progress of the ASIC order with BFL as I get new information.

Thank you!

wogaut
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September 21, 2012, 05:52:52 PM
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I am considering making more BFL SC Single units from the same order (effective purchase date July 15) available for purchase through PureASIC.

If you are interested in getting a first-month BFL ASIC SC Single send me a PM  (will only sell full units, i.e. multiples of 200 shares).

PureASIC is fully verified on GLBSE, free US shipping is included in the GLBSE contract.


wogaut
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September 24, 2012, 02:24:56 PM
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I am considering making more BFL SC Single units from the same order (effective purchase date July 15) available for purchase through PureASIC.

If you are interested in getting a first-month BFL ASIC SC Single send me a PM  (will only sell full units, i.e. multiples of 200 shares).

PureASIC is fully verified on GLBSE, free US shipping is included in the GLBSE contract.

Just 2 BFL SC Singles still available!

Update: Extra units sold outside GLBSE/PureASIC
PureASIC remains to have 9 units allocated (1800 shares total)

wogaut
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October 06, 2012, 10:07:21 AM
 #14

As we have read, GLBSE shuts down.

I have contacted the investors that I am aware hold full SC Single units (multiples of 200 shares) to convert them into private purchase agreements. Several have already agreed.

Owners of fractional units (shares less than 200) will have to wait until Nefario sends me that info (I guess it will be similar to what he did when delisting Goat's security).

If you are an investor and have questions, please contact me.

Edit: You can follow what's going on with GLBSE here:
https://bitcointalk.org/index.php?topic=115669.msg1248736#msg1248736

Note: I want to state that PureASIC holds no bitcoins on GLBSE, and most BFL SC Single ownerships of full units are being converted to private purchase agreements by now.

Edit 10/07/2012: All holders of full SC Single units (i.e. multiples of 200 shares) have been converted to private purchase agreements and received GPG signed contracts.

Edit 10/10/2012: If you still own some shares (less than 200), please go to GLBSE and fill out the claim form so I can pay out the proceeds once the last SC Single is sold!

wogaut
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October 09, 2012, 12:29:44 PM
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All full BFL SC Single ownerships have been converted into private purchase agreements.

There is one SC Single (200 shares) left that is split between investors, and the majority shareholders have indicated that a sale is a viable option.

PureASIC was never intended to be a mining company, just an ownership and purchasing asset with an optional hosting service. With GLBSE gone, I converted all full SC Single ownerships into purchase agreements, which doesn't work for a split ownership of the remaining SC Single. So that unit will be sold and the proceeds paid to the share holders of these 200 shares (as soon as Nefario makes the necessary information available). My right to sell off the remaining asset is written into the PureASIC GLBSE contract.

While I have offers for that unit, I find it fair to post my decision before finalizing that sale, so that everyone can put in an offer and I can get the shareholders a good deal.

If you want to make a purchase offer for that 1 ASIC SC Single, please PM me ASAP. ***SOLD***


wogaut
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October 24, 2012, 09:04:01 PM
 #16

The last unit that was split between investors owning less than 200 shares was sold.

The revenue will be equally split between investors at 0.825 btc/shares.  
It is the highest bid I could get for the unit, and I believe this is a good number. It is above the last trade before GLBSE shut down.

For those investors that bought from me on IPO day, I have already started payout.

For those that bought shares after IPO day (07/14/2012) using the trade interface I will have to wait until GLBSE (Nefario) releases the investor list to verify your claim.
So make sure you claim your assets from GLBSE and stay tuned for updates.

wogaut
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October 29, 2012, 06:11:20 PM
 #17

At this point:

1) All full SC Single ownerships have been converted into private purchasing agreements
2) The last SC Single (that was split between investors) has been sold
3) Known IPO investors of remaining shares have been paid out at a rate of 0.825 btc/share
4) I am waiting on the shareholder list from GLBSE (Nefario) to pay out remaining shares (approx. 55 remaining) at 0.825 btc/share.

If you have not done so already, go to the GLBSE website to claim your assets!

GLBSE Blog

wogaut
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December 20, 2012, 07:06:21 PM
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Update: I have received the asset list from GLBSE and will compare it to the shares that have been converted into private purchase agreements (full units) or have been paid out so far.

Then I will email everyone on the list and start paying out remaining shares to the bitcoin addresses on the asset list at a rate of 0.825btc/share.

I estimate that this process will take anywhere from a few days to a week.

wogaut
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December 23, 2012, 03:57:47 PM
 #19

All shareholders from the GLBSE asset list have been contacted.
Most investors have responded and been paid out.

Regarding shipping of the SC Singles from shares converted to purchasing agreements: BFL is currently expecting to ship early January (I will keep investors updated per email).

Happy Holidays!

wogaut
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January 04, 2013, 04:58:46 PM
 #20

The asset list I received from GLBSE/Nefario was complete and the payout of remaining shares to investors is complete.

Regarding the SC Single hardware, BFL_Josh has made a couple of statements on the BFL Forums:

on 01.01.2013 he wrote:
Quote
Yes, I hope to have an update with good news sometime during the week of the 13th (probably before that, though).

on 01.02.2013 he wrote:
Quote
The PCBs are finished, but there are no components on them. That is done all at once when the chips are ready.

I will keep my investors updated by email about any important news or changes.


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