ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Birdy]

People who fear that can move out of btct.co to direct shares instead of selling the shares, so I guess there is a bit of selling to the current price, but it will not lead to panic selling.

[velacreations]

how do people think the recent burnside discussion about closing BTCT to US investors will affect the price of AM?  Should US investors move to BF?

BF suffered a bit lately, mainly because of the security vulnerability.  I know several people that move to BTCT since then, and the AM price has certainly been lower over there, as well as the volume.

What do folks think about this?

US shareholders better fall in love with the concept of direct shares in the next few days.

I actually think it is a bunch of hogwash, to be honest.  There is absolutely no indication that bitcoin exchanges are going to be prosecuted by the SEC.

Here's where burnside was speculating about what might happen, and then the markets basically all took a nosedive:
https://bitcointalk.org/index.php?topic=261235

So, I'm thinking, great time to buy cheap shares.  Thank you, nervous nellies!

[velacreations]

Just do a search on for member burnside and look at his last posts.  He operates the BTCT.  Looks like we'll have some cheap ASICMINER stock, or a lot of transfer to non-US exchanges such as havelock, 796, and OTC.  Is bitfunder based on US?

I thought havelock was US, too?

[gog1]

Just do a search on for member burnside and look at his last posts.  He operates the BTCT.  Looks like we'll have some cheap ASICMINER stock, or a lot of transfer to non-US exchanges such as havelock, 796, and OTC.  Is bitfunder based on US?

I thought havelock was US, too?

I believe they are Canadian - the 51st state!

But so far Canada seems to have taken quite a different approach towards bitcoins.

[Ozymandias]

Just do a search on for member burnside and look at his last posts.  He operates the BTCT.  Looks like we'll have some cheap ASICMINER stock, or a lot of transfer to non-US exchanges such as havelock, 796, and OTC.  Is bitfunder based on US?

I thought havelock was US, too?

I believe they are Canadian - the 51st state!

But so far Canada seems to have taken quite a different approach towards bitcoins.

Canada seems to be embracing btc and I would have little issue moving over to havelock (and if that wasn't an option, then I suppose bitfunder as a last resort) but if access gets cut off to Americans it looks like ASICminer will be one of the few securities I'd be able to more or less safely hold on to (directly, not PT) as an Ashamed American

[freedomno1]

Just do a search on for member burnside and look at his last posts.  He operates the BTCT.  Looks like we'll have some cheap ASICMINER stock, or a lot of transfer to non-US exchanges such as havelock, 796, and OTC.  Is bitfunder based on US?

I thought havelock was US, too?

I believe they are Canadian - the 51st state!

But so far Canada seems to have taken quite a different approach towards bitcoins.

Canada seems to be embracing btc and I would have little issue moving over to havelock (and if that wasn't an option, then I suppose bitfunder as a last resort) but if access gets cut off to Americans it looks like ASICminer will be one of the few securities I'd be able to more or less safely hold on to (directly, not PT) as an Ashamed American

With havelock I doubt their will be any issues they also operate Canadianbitcoins and issue Cavirtex stocks which is expanding development in Canada with retailers the approach to bitcoins is far different than the USA.

Plus the recent Canadian news on Visa and Premium cards is sure to irritate if not piss off some merchants.
http://o.canada.com/2013/07/23/competition-tribunal-rejects-visa-mastercard-fees-complaint/

Canadian merchants will continue paying higher fees to accept “premium” credit cards after a landmark ruling by the Competition Tribunal.

The tribunal sided with Visa and Mastercard in rejecting a complaint from Canada’s Competition Bureau filed in December 2010. The Bureau, on behalf of retailers, made a case against what they call excessively high fees paid by retailers for accepting certain credit cards.

So-called premium credit cards — ones with reward programs or other perks — charge retailers higher fees than other cards when customers use them to make purchases. According to the Retail Council of Canada (RCC), a $300 purchase could cost a merchant $12 for the transaction — compared to 12 cents for a $300 debit purchase.

Targeting the exchange is not likely to happen Pirate committed a Financial crime while havelock has been working with the regulators on KYC etc in Canada.

https://www.canadianbitcoins.com/
https://www.cavirtex.com/faq

That said as Cavirtex has pointed out

Bitcoin is not officially recognized by the Canadian government as a currency, stock or any type of good that has value however since the exchange of Canadian dollars occurs for Bitcoins, it is the exchange operator's responsibility to ensure that all money handling laws and regulations are obeyed on the Canadian dollar side of the transaction. For the Bitcoin side, VirtEx is proactive in maintaining legal advice, working with politicians as well as seeking out established brokers in Canada to determine the future of Canadian Bitcoin Exchange. We have the ambitious long term plan to work with the Canadian government to form the first regulatory framework for Canadian Bitcoin exchange.

[Ninshatamoto]

Just do a search on for member burnside and look at his last posts.  He operates the BTCT.  Looks like we'll have some cheap ASICMINER stock, or a lot of transfer to non-US exchanges such as havelock, 796, and OTC.  Is bitfunder based on US?

I thought havelock was US, too?

I believe they are Canadian - the 51st state!

But so far Canada seems to have taken quite a different approach towards bitcoins.

Canada seems to be embracing btc and I would have little issue moving over to havelock (and if that wasn't an option, then I suppose bitfunder as a last resort) but if access gets cut off to Americans it looks like ASICminer will be one of the few securities I'd be able to more or less safely hold on to (directly, not PT) as an Ashamed American

Good day to already be on Havelock I guess...

[freedomno1]

Just do a search on for member burnside and look at his last posts.  He operates the BTCT.  Looks like we'll have some cheap ASICMINER stock, or a lot of transfer to non-US exchanges such as havelock, 796, and OTC.  Is bitfunder based on US?

I thought havelock was US, too?

If your in Ottawa you can go drop by the Canadianbitcoin office and buy bitcoins
Cash in Person (Ottawa)
https://www.canadianbitcoins.com/contact.php

[burnside]

how do people think the recent burnside discussion about closing BTCT to US investors will affect the price of AM? 

Link to said discussion?

Keep in mind while reading that it is a DISCUSSION... NOT a plan of action.

https://bitcointalk.org/index.php?topic=261235.0  (tl'dr; nothing to get excited about at the moment...)

Several of the exchanges are in the same situation, BTC-TC is simply the focus at the moment, potentially due to it's size, open discussion, and community focus.

Cheers.

[velacreations]

I'm not sure why people are selling right now on BTCT, no policy has been announced, only discussion.  But, I guess people just panic for whatever reason.

Cheap shares!

[Pale Phoenix]

Jumping ship from BTCTC to Havelock is ridiculous as they are in no better position with respect to Canadian exempt securities regulations (National Instrument 45-106).

Everyone panicking is throwing money away, which I'm sure is pleasing to the speculators among us. Stay calm, there really is no urgent need to do anything.

[Bonam]

TAT's passthrough has dropped down to 0.041. Wish I had some spare BTC right now  Easy ~10% profit within a few days.

[velacreations]

Jumping ship from BTCTC to Havelock is ridiculous as they are in no better position with respect to Canadian exempt securities regulations (National Instrument 45-106).

Everyone panicking is throwing money away, which I'm sure is pleasing to the speculators among us. Stay calm, there really is no urgent need to do anything.

don't tell people that, you'll make the price rise before my confirmations...

[BitAddict]

Jumping ship from BTCTC to Havelock is ridiculous as they are in no better position with respect to Canadian exempt securities regulations (National Instrument 45-106).

Everyone panicking is throwing money away, which I'm sure is pleasing to the speculators among us. Stay calm, there really is no urgent need to do anything.

don't tell people that, you'll make the price rise before my confirmations...

3 confirmations never went so slow... I missed the train 

[Pale Phoenix]

don't tell people that, you'll make the price rise before my confirmations...

Sorry.

I picked up some cheap shares too. My only regret is not having a boatload of BTC at the ready.

[freedomno1]

Jumping ship from BTCTC to Havelock is ridiculous as they are in no better position with respect to Canadian exempt securities regulations (National Instrument 45-106).

Everyone panicking is throwing money away, which I'm sure is pleasing to the speculators among us. Stay calm, there really is no urgent need to do anything.

Lightbox/James Posts I would say they are a bit ahead to be honest lightboxtechnologies and Canadianbitcoins included on NS 45-106 might ask James later that is a good question.

https://www.havelockinvestments.com/faq.php
https://bitcointalk.org/index.php?topic=135035.msg1441581#msg1441581
https://bitcointalk.org/index.php?topic=135035.msg1438390#msg1438390
https://bitcointalk.org/index.php?topic=135035.msg2665856#msg2665856
How do I know you're a legitimate business?
We have physical assets, an office, a phone number and operate under an Incorporated Canadian Business. We have been mining Bitcoins since 2009 (when CPU mining was cool) and are not hiding who we are. Transparency builds trust. Trust builds customers.

Always!  Gotta keep my employees busy (and paid! lol)

My "day job" is owner of http://www.lightbox.ca we do all kinds of web development, IOS development, etc.  Need something done?  Feel free to PM me or email james@lightbox.org

Cheers,
 James

____

Back to nomming shares on no real fundamental changes to the company heres something for your reading
http://en.wikipedia.org/wiki/MintChip

I'm going to use Blanket Law
http://www.albertasecurities.com/securitiesLaw/Regulatory%20Instruments/3/Blanket%20Order%2031-505%20-%20Registration%20Exemption%20for%20Trades%20in%20Connection%20with%20Certain%20Prospectus-Exempt%20Distributions/3426188-v1-ASC_Notice_-_February_12__2010.pdf

Recordkeeping
To demonstrate compliance, market participants will need to keep records demonstrating that
they met the conditions of this exemption when they sold a prospectus-exempt security.
Evidence of the purchaser’s risk acknowledgement should be kept for a reasonable period of
time. In NI 45-106, the equivalent prospectus exemption risk acknowledgement condition
requires that the risk acknowledgement be kept for 8 years.
The market participant should also retain evidence of communications between the market
participant and the purchaser. This will serve the market participant well from a compliance
standpoint and if a dispute ever arises between the market participant and the purchaser.

Legals grey while I do not consider it as an exemption I do think no rules besides bitcoin being taxable have been established yet
http://www.cbc.ca/news/business/story/2013/04/26/business-bitcoin-tax.html

Investing gains
When it comes to trading BitCoins for profit, the tax man says there are tax implications there, too.

"When BitCoins are bought or sold like a commodity, any resulting gains or losses could be income or capital for the taxpayer depending on the specific facts," ruled the CRA.

That section is covered in paragraphs nine through 32 of the CRA's section IT-479R, Transactions in Securities, "which provide general comments for purposes of determining whether transactions are income or capital in nature."

Sorry for the length hope that answers a few of the regulatory questions lets get back to topic

[Vexual]

I'd guess that the recent dump of passthrough shares on btct was not about rumours regarding the legality of virtual stock exchanges.
I suppose that someone did their sums and came to the conclusion that it might be a good idea to invext in some actual asicminer hardware over the coming weeks.

[VolanicEruptor]

I'd guess that the recent dump of passthrough shares on btct was not about rumours regarding the legality of virtual stock exchanges.
I suppose that someone did their sums and came to the conclusion that it might be a good idea to invext in some actual asicminer hardware over the coming weeks.

Is it smart to invest in 108nm technology in the coming weeks?  Really?

[Vexual]

Is it smart to invest in 108nm technology in the coming weeks?  Really?

well... i left my electron scanning microscope in my other pants... so I wouldn't know

[Xian01]

unconfirmed news:
The USB stick miner will be charged at 0.6BTC.

Also,if you bought a stick before,you can buy a new one at 0.1BTC.

I am absolutely turgid at the thought of being able to buy 70 of these guys @ 0.1BTC each... Oh please let it be so.