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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3729060 times)
BitcoinINV
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August 15, 2012, 11:56:00 PM
 #101

I'm slightly confused by this statement:
"Each investor who privately buys 5,000 or more shares will get extra 10% ones, plus a position on the board of Bitfountain."

Is this position earned by 'buying' 5,000 shares or by 'holding' 5,000 shares?

E.g., the scenario of someone who buys 5,000 privately then sells them on GLBSE for whatever markup can be had. Then after the IPO is finished he has 500 shares (the "extra 10%") effectively free or probably at an initial profit.

In that case, someone with a 500 share stake who has already taken his intended profits has a board position? That person no longer has much of a vested interest in ensuring a full-faith audit. If anything, the motivation could be to promulgate blue-sky good news to create a bubble to sell his last 500 shares into.

yes. But I guess this is rather a shortcoming of GLBSE, which doesn't offer a functionality to "lock" shares into long term. But the idea (I guess) is that each board member has a minimal stake of 5k shares in the company, which makes sense.
Think the GLSBE has a post around to suggest things, I think you hit a winner with that idea. Maybe options to add board members with X% of shares to each stock?
Sorry for the hijack lol

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BinaryMage
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August 16, 2012, 03:48:59 AM
 #102

Question: If someone does not initially purchase 5000 shares, but later obtains that amount, would they become a board member?

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eb3full
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August 16, 2012, 05:25:57 AM
 #103

Additionally, the GLBSE contract does not mention the 10000 stock offer bonus that the OP does.

"With four parameters I can fit an elephant, and with five I can make him wiggle his trunk." John von Neumann
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friedcat
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August 16, 2012, 06:04:44 AM
 #104

Question: If someone does not initially purchase 5000 shares, but later obtains that amount, would they become a board member?

They will. Smiley But the total of 5000 shares should be obtained directly from us.

friedcat
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August 16, 2012, 06:12:10 AM
 #105

Update

The GLBSE transferring system seems to be not working at this moment. It reports "Internal Server Error" when sending shares out. All current bulk purchase requests are being processed, and the shares will be sent immediately when the system works again.

friedcat
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August 16, 2012, 06:16:16 AM
 #106

Additionally, the GLBSE contract does not mention the 10000 stock offer bonus that the OP does.

Yes. It also has a typo of 2012 to 2011, and misses several clauses and details in the thread.
Since it is not possible to edit it ourselves after it's submitted, the updated version will be sent
to the GLBSE manager. Thanks.

friedcat
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August 16, 2012, 08:42:38 AM
 #107

Update

The GLBSE works well now. Shares are being sent. Thanks for waiting.

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August 16, 2012, 04:30:57 PM
 #108

I think you should list one more risk in your list of risk scenarios, which is another manufacturer beating you in time to market or manufacture. The implications of this would potentially be higher difficulty at start of mining + earlier halving of the block reward. Hedge would ofc be the same: to diversify your portfolio.

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DeaDTerra
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August 16, 2012, 04:33:58 PM
 #109

I am taking orders for ASICMINER shares.
Price starting at 0.1 BTC but can be discussed depending on volume Smiley
No minimum volume and instant transfer after the transaction has been received.
Pm me Wink
//DeaDTerra
BitcoinINV
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August 16, 2012, 04:43:59 PM
 #110

Is there any chance of Chinese gov interference, or copy cats? Are you 100% protected from some sweat shop taking about your design and selling it for less? We have a flood of copy cat products here in the USA. Or the gov taking your business? I'm sorry I do not know how things work in China.

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August 16, 2012, 04:57:35 PM
 #111

I am taking orders for ASICMINER shares.
Price starting at 0.1 BTC but can be discussed depending on volume Smiley
No minimum volume and instant transfer after the transaction has been received.
Pm me Wink
//DeaDTerra

Price can be discussed depending on volume ? Below the IPO price of 0.1 Huh

How does that work  Shocked
DeaDTerra
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August 16, 2012, 05:13:32 PM
 #112

I am taking orders for ASICMINER shares.
Price starting at 0.1 BTC but can be discussed depending on volume Smiley
No minimum volume and instant transfer after the transaction has been received.
Pm me Wink
//DeaDTerra

Price can be discussed depending on volume ? Below the IPO price of 0.1 Huh

How does that work  Shocked
I am just that boss ^^
//DeaDTerra
DutchBrat
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August 16, 2012, 05:16:52 PM
 #113

I am taking orders for ASICMINER shares.
Price starting at 0.1 BTC but can be discussed depending on volume Smiley
No minimum volume and instant transfer after the transaction has been received.
Pm me Wink
//DeaDTerra

Price can be discussed depending on volume ? Below the IPO price of 0.1 Huh

How does that work  Shocked
I am just that boss ^^
//DeaDTerra

Lol

Respect Mr. Boss !  Grin
irritant
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Sodium hypochlorite, acetone, ethanol


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August 17, 2012, 02:23:11 AM
 #114

are you the same people as from http://twitter.com/asicminer ?
friedcat
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August 17, 2012, 02:54:08 AM
 #115

Is there any chance of Chinese gov interference, or copy cats? Are you 100% protected from some sweat shop taking about your design and selling it for less? We have a flood of copy cat products here in the USA. Or the gov taking your business? I'm sorry I do not know how things work in China.
The chance of Chinese gov making action is small, or at least not significant higher than that of governments in US or EU.

By copycats, you might mean one of the several following possibilities:

1. chip reverse engineering from our buyers.
2. foundry stealing our design.
3. foundry employees leaking our design privately.

All of the three will not make the copycats' lives much easier than ours. Because unlike software, the copycats will also spend the same amount of money as NRE. There's no way that they could just duplicate our chips using magic devices. Plus, our foundry accepts lots of orders of taping out embedded-CPUs each month, and many of them involve ~2M$ worth of bought IPs (ARM architecture), so we expect that 2 and 3 is very unlikely happen to us, and if it does happen, there will be much more people (cellphone and pad manufacturers) worrying about them with much more money.

Thanks for your question.

BitcoinINV
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August 17, 2012, 03:03:21 AM
 #116

Thank you, I do not have a common knowledge of the system over there.

friedcat
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August 17, 2012, 03:07:29 AM
 #117

are you the same people as from http://twitter.com/asicminer ?

No, I'm not. Smiley

HorseRider
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August 17, 2012, 04:14:24 AM
 #118

I am taking orders for ASICMINER shares.
Price starting at 0.1 BTC but can be discussed depending on volume Smiley
No minimum volume and instant transfer after the transaction has been received.
Pm me Wink
//DeaDTerra

Wow, competition always make the world a better place. But DeaDTearra, could you please use the money to buy new shares from friedcat, but not sell the old shares?

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
Jutarul
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August 17, 2012, 04:19:58 AM
 #119

I am taking orders for ASICMINER shares.
Price starting at 0.1 BTC but can be discussed depending on volume Smiley
No minimum volume and instant transfer after the transaction has been received.
Pm me Wink
//DeaDTerra

Wow, competition always make the world a better place. But DeaDTearra, could you please use the money to buy new shares from friedcat, but not sell the old shares?

I would be surprised if GLBSE had a way to distinguish between shares or trace them. And even if their database is transaction style and shares internally have an ID, I don't see a way to send/receive a particular set of shares.

Sorry - the question makes no sense to me.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
HorseRider
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August 17, 2012, 04:25:17 AM
 #120


I would be surprised if GLBSE had a way to distinguish between shares or trace them. And even if their database is transaction style and shares internally have an ID, I don't see a way to send/receive a particular set of shares.

Sorry - the question makes no sense to me.

I would like to introduce a word to you: volunteer. buying new shares would make this IPO faster and more likely to succeed. No one can force or monitor whether someone is doing so, but you can do it out of volunteerism.

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
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