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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914701 times)
yuchuanzhen
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July 22, 2013, 04:21:16 AM
 #10281

Got some news
1.The will be a delay due to the issues of  New&Mini blade's power supply.Kind like 30th,this month.
2.And there will be a fixed price.Of course,you can get refund for the pre-order.
Issues have been solved.
The manufactory is working on it.

Are we still looking at a date of July 30th?
It depends.
You know,most time, they work overtime,more than you can image.

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July 22, 2013, 04:49:44 AM
 #10282


Are we still looking at a date of July 30th?
It depends.
You know,most time, they work overtime,more than you can image.

I don't doubt it. friedcat and co. have the benefit of the doubt, no other company has earned this level of trust from their investors.
yuchuanzhen
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July 22, 2013, 05:10:03 AM
 #10283

It depends.
You know,most time, they work overtime,more than you can image.

I don't doubt it. friedcat and co. have the benefit of the doubt, no other company has earned this level of trust from their investors.

I mean the workers in manufactory.

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July 22, 2013, 01:51:10 PM
 #10284

Got some news
1.The will be a delay due to the issues of  New&Mini blade's power supply.Kind like 30th,this month.
2.And there will be a fixed price.Of course,you can get refund for the pre-order.
Issues have been solved.
The manufactory is working on it.


tài gǎn xiè nín le !

As always, thank you very much for bringing us the latest information!
JSMill
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July 22, 2013, 02:16:15 PM
 #10285

Got some news
1.The will be a delay due to the issues of  New&Mini blade's power supply.Kind like 30th,this month.
2.And there will be a fixed price.Of course,you can get refund for the pre-order.
Issues have been solved.
The manufactory is working on it.

Thank you!
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July 22, 2013, 03:11:53 PM
Last edit: July 22, 2013, 04:20:11 PM by burnside
 #10286

Tier    Total volume    Futures trading commission    Stock trading commission    Withdraw fee
VIP0    0    0.6%    1.2%    1.2%
VIP1    10    0.6%    1.2%    1.2%
VIP2    100    0.5%    1.0%    1.0%
VIP3    1000    0.4%    0.8%    0.8%
VIP4    10000    0.3%    0.6%    0.6%
VIP5    100000    0.2%    0.4%    0.4%
VIP6    1000000    0.1%    0.2%    0.2%

You have to trade 1,000,000 BTC volume before you get on PAR with btct.co's trade fees, nevermind that you'd already spent a fortune in fees to get there.  And you can NEVER get on par with btct.co's withdrawal fees which are basically free with the exception of the bitcoind client's fees.

I don't think I've seen fees that bad anywhere.   Sad

Regarding the fees... If you do the math using the table by the time a trader reaches VIP6 (PAR with btct.co at 0.2% with 2FA enabled) the trader will have paid:

(900,000*.004 = 3600) + (90,000*.006 = 540) + (9,000*.008 = 72) + (900*.01 = 9) + (100*.012 = 1.2) = 4222.2 BTC in fees.

Or, you could just turn on 2FA on btct.co and for your first 1,000,000 in volume pay less than half that at (1,000,000*.002) = 2000 BTC in fees.

I realize there are some alternate products, but for ASICMINER trading, you're paying a lot more in fees unless you hold enough stock to get 50% of the fees back... 2222.2 BTC is a pretty wide gap to close with dividends.


Hi burnside,

About the fee, I'm sorry you're giving a wrong answer.
It's like this:

VIP1   10*0.006 = 0.06 BTC
VIP2 (100-10)*0.006 = 0.54 BTC
VIP3 (1000-100)*0.005 = 4.5 BTC
VIP4 (10000-1000)* 0.004 = 36 BTC
VIP5 (100000-10000)*0.003 = 270 BTC
VIP6 (1000000-100000)*0.002 = 1800 BTC
besides, we just charge commissions when the users are opening a position,but we count trading volume including: volume when open a position and volume when close a position
thus, the commission to reach VIP6 actually is: (0.06+0.54+4.5+36+270+1800)/2=1055.55
and we count 3 times volume for automatic settle(so the VIP value is also 3 times) on each Sunday
this fee is far less than yours
and VIP tier is permanent for our users.

if you have further question, please feel free to let us know.

Kind regards,
796 Exchange

I was not wrong.  Take the final tier for example:

Quote
VIP6 (1000000-100000)*0.002 = 1800 BTC

What you are saying is that you reach 0.2% upon reaching 100,000 (VIP5)  That is in fact incorrect according to your chart, you do not reach 0.2% until you have 1,000,000 in volume.

In other words, you are VIP5 (0.4%) between 100,000 to 1,000,000 until you reach VIP6 (0.2%).


Also, this is the ASICMINER thread.  I noticed you adjusted all your numbers using your futures trading percentages.  ASICMINER is a stock, is it not?  Again, keeping in mind we care about stock trading here, I was on track the first time:

Quote
(900,000*.004 = 3600) + (90,000*.006 = 540) + (9,000*.008 = 72) + (900*.01 = 9) + (100*.012 = 1.2) = 4222.2 BTC in fees.

Does the 3x volume counter also apply to stocks on sundays?

Cheers.
SmiGueL
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July 22, 2013, 03:16:32 PM
Last edit: July 22, 2013, 09:07:51 PM by SmiGueL
 #10287

We found a pretty nice amount of blocks today! Grin





I've added a 24h/3d/7d Averaged Hashrate chart of the last month to the site Smiley Data source of this first chart is from Runeks.

www.asicminercharts.com

Asicminer Hashrate Charts @ www.asicminercharts.com

Donations BTC: 1SmiGSGWXzD5aZhmw3jyfpBFCgiki45MT
Strange Vlad
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July 22, 2013, 06:37:51 PM
 #10288

It depends.
You know,most time, they work overtime,more than you can image.
I don't doubt it. friedcat and co. have the benefit of the doubt, no other company has earned this level of trust from their investors.
I mean the workers in manufactory.
Yeah, I've read about working conditions in China.  Workers on the factories can easily work 10+ hours a day, 6 days a week.  But they don't complain, they are very hard-working people.

Do not try and bend the spoon. That's impossible. Instead... only try to realize the truth. There is no spoon. Then you'll see, that it is not the spoon that bends, it is only yourself.
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July 22, 2013, 11:06:24 PM
 #10289

is ASICMINER allowed to write a motion proposing a stock split? I believe a 10:1 stock split would greatly benefit the company.

Shares are trading at almost 5BTC right now, which is around 450~ USD per share. This is a great sum of money. The next best option are the TAT.ASICMINER shares which are 100:1 but incure a 5% fee.

A 10:1 split would mean shares would be at 0.47/share, which will be a much more acceptable entry point for many newcomers.
VolanicEruptor
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July 22, 2013, 11:09:29 PM
 #10290

It depends.
You know,most time, they work overtime,more than you can image.
I don't doubt it. friedcat and co. have the benefit of the doubt, no other company has earned this level of trust from their investors.
I mean the workers in manufactory.
Yeah, I've read about working conditions in China.  Workers on the factories can easily work 10+ hours a day, 6 days a week.  But they don't complain, they are very hard-working people.

Of course they don't complain, they're doing it to survive.  Only people who exceed their basic survival income will complain about working.

benm
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July 22, 2013, 11:42:47 PM
 #10291

is ASICMINER allowed to write a motion proposing a stock split? I believe a 10:1 stock split would greatly benefit the company.

Shares are trading at almost 5BTC right now, which is around 450~ USD per share. This is a great sum of money. The next best option are the TAT.ASICMINER shares which are 100:1 but incure a 5% fee.

A 10:1 split would mean shares would be at 0.47/share, which will be a much more acceptable entry point for many newcomers.

The trading of stocks after the initial distribution doesn't benefit the company at all, unless they plan to sell.
empoweoqwj
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July 23, 2013, 12:46:42 AM
 #10292

is ASICMINER allowed to write a motion proposing a stock split? I believe a 10:1 stock split would greatly benefit the company.

Shares are trading at almost 5BTC right now, which is around 450~ USD per share. This is a great sum of money. The next best option are the TAT.ASICMINER shares which are 100:1 but incure a 5% fee.

A 10:1 split would mean shares would be at 0.47/share, which will be a much more acceptable entry point for many newcomers.

The trading of stocks after the initial distribution doesn't benefit the company at all, unless they plan to sell.

Companies are owned by the shareholders i.e us. So anything that benefits the shareholders should be considered. That's the starting point of any discussion.

Would a stock split benefit the shareholders? Probably yes, but I couldn't quantify by how much.
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July 23, 2013, 12:53:58 AM
 #10293

Companies are owned by the shareholders i.e us.

BitFountain has a majority shareholding, ie. not us.

Pierre
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July 23, 2013, 12:57:20 AM
 #10294

Splitting the stock 10:1 would mean more work for Friedcat moving shares around so I am against it.
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July 23, 2013, 01:00:58 AM
 #10295

Companies are owned by the shareholders i.e us.

BitFountain has a majority shareholding, ie. not us.

Companies are still owned by all shareholders, regardless of "voting rights" or "majority ownership", that's where the definition of "shareholding" comes from Smiley

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July 23, 2013, 01:03:58 AM
Last edit: July 23, 2013, 01:37:37 AM by empoweoqwj
 #10296

Splitting the stock 10:1 would mean more work for Friedcat moving shares around so I am against it.

Good point. *Much* more work, as the amount of share trading would multiply up, probably much more than 10x

I think  a stock split would only "work" therefore if a dedicated trading platform was launched, so all the laborious manual work was removed once and for all.

The current direct transfer system done via email honestly isn't much good though. The manual labour for friedcat + cases of attempts at "double selling" (not sure if any successful?) which friedcat confirmed recently. Its not the most secure way to trade shares is it ....
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July 23, 2013, 01:44:05 AM
 #10297

Splitting the stock 10:1 would mean more work for Friedcat moving shares around so I am against it.

Good point. *Much* more work, as the amount of share trading would multiply up, probably much more than 10x

I think  a stock split would only "work" therefore if a dedicated trading platform was launched, so all the laborious manual work was removed once and for all.

The current direct transfer system done via email honestly isn't much good though. The manual labour for friedcat + cases of attempts at "double selling" (not sure if any successful?) which friedcat confirmed recently. Its not the most secure way to trade shares is it ....
Shares rose is the best choice, waiting merger

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July 23, 2013, 01:53:24 AM
 #10298

Splitting the stock 10:1 would mean more work for Friedcat moving shares around so I am against it.

Good point. *Much* more work, as the amount of share trading would multiply up, probably much more than 10x

I think  a stock split would only "work" therefore if a dedicated trading platform was launched, so all the laborious manual work was removed once and for all.

The current direct transfer system done via email honestly isn't much good though. The manual labour for friedcat + cases of attempts at "double selling" (not sure if any successful?) which friedcat confirmed recently. Its not the most secure way to trade shares is it ....
Shares rose is the best choice, waiting merger


I hope friedcat has plans for listing ASICMINER on a public exchange soon. This will greatly increase productivity for him and the company since he doesn't have to go through tens or hundreds of direct share transfers a week, and confirming them for auctions.

If that is the case, I believe a 10:1 stock split is greatly favorable.
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July 23, 2013, 04:20:21 AM
 #10299

Splitting the stock 10:1 would mean more work for Friedcat moving shares around so I am against it.

Good point. *Much* more work, as the amount of share trading would multiply up, probably much more than 10x

I think  a stock split would only "work" therefore if a dedicated trading platform was launched, so all the laborious manual work was removed once and for all.

The current direct transfer system done via email honestly isn't much good though. The manual labour for friedcat + cases of attempts at "double selling" (not sure if any successful?) which friedcat confirmed recently. Its not the most secure way to trade shares is it ....
Shares rose is the best choice, waiting merger


I hope friedcat has plans for listing ASICMINER on a public exchange soon. This will greatly increase productivity for him and the company since he doesn't have to go through tens or hundreds of direct share transfers a week, and confirming them for auctions.

If that is the case, I believe a 10:1 stock split is greatly favorable.

in the original post AM was listed as a virtual Entity. I doubt he has any standing as a legal company and there would be a lot of red tape to go through in order to list it on a public exchange I can't imagine this ever happening
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July 23, 2013, 04:22:11 AM
 #10300

Splitting the stock 10:1 would mean more work for Friedcat moving shares around so I am against it.

Good point. *Much* more work, as the amount of share trading would multiply up, probably much more than 10x

I think  a stock split would only "work" therefore if a dedicated trading platform was launched, so all the laborious manual work was removed once and for all.

The current direct transfer system done via email honestly isn't much good though. The manual labour for friedcat + cases of attempts at "double selling" (not sure if any successful?) which friedcat confirmed recently. Its not the most secure way to trade shares is it ....
Shares rose is the best choice, waiting merger


I hope friedcat has plans for listing ASICMINER on a public exchange soon. This will greatly increase productivity for him and the company since he doesn't have to go through tens or hundreds of direct share transfers a week, and confirming them for auctions.

If that is the case, I believe a 10:1 stock split is greatly favorable.

in the original post AM was listed as a virtual Entity. I doubt he has any standing as a legal company and there would be a lot of red tape to go through in order to list it on a public exchange I can't imagine this ever happening

We should obviously trust your speculation over the official records of the Chinese government.

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