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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3773369 times)
Jutarul
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August 17, 2012, 04:34:11 AM
 #121


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.


I get you - and I agree. You want to make sure that everyone who buys shares from DeaDTerra actually increases the amount of shares distributed by friedcat. Similar to how you would handle it, right?

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
"There should not be any signed int. If you've found a signed int somewhere, please tell me (within the next 25 years please) and I'll change it to unsigned int." -- Satoshi
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MadSweeney
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August 17, 2012, 05:31:26 AM
 #122

I'm already a bulk investor myself and paid all the bitcoin and bought the number of shares I want to buy.
If you are a retail investor who wants to buy the share at the price of 0.1BTC, please PM me such information in such order:


GLBSE account   Forum ID   Bitcoin amount

...

I think this is meaningful: your money is buying the new shares, not old shares from me. I'm not selling my old shares to the public.

Good idea. Sent you a pm for this, HorseRider.

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August 17, 2012, 05:36:46 AM
 #123

Friedcat has just set up a new and dedicated address for me. Any money sent me by the retail investors will be transfer to that address immediately when I have access to internet. When the money reaches that  dedicated address, it will treated as the shares are purchased. However, friedcat only has to do the share transferring a single  time, and I will distributed to others.

I will give a list of the retail investor at the end of the IPO, (the name will only contains the first character and the last one.) and the dedicated address.

The dedicated address is

1JJMCKsPU8FVdJz8fkNiG5zKTNhgEcSRzs

https://blockchain.info/address/1JJMCKsPU8FVdJz8fkNiG5zKTNhgEcSRzs

So that everyone will make sure that all the money have been used to buy new shares.



  


 As I might will be paying the share transferring fee, so people can donate me some bitcoin this address, thank you.:

1NTnocYbHGg9ERF96qR68Mj8P2m7RfnfQi

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
HorseRider
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August 17, 2012, 05:47:20 AM
 #124

I'm already a bulk investor myself and paid all the bitcoin and bought the number of shares I want to buy.
If you are a retail investor who wants to buy the share at the price of 0.1BTC, please PM me such information in such order:


GLBSE account   Forum ID   Bitcoin amount

...

I think this is meaningful: your money is buying the new shares, not old shares from me. I'm not selling my old shares to the public.

Good idea. Sent you a pm for this, HorseRider.

Got the money, thank you!

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
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August 17, 2012, 06:12:32 AM
 #125

Update:

the smallest money you can invest through me is changed to 5 BTC now.


-----------------------------------------------------------------------------
asking donations for the transferring fee. thank you.

1NTnocYbHGg9ERF96qR68Mj8P2m7RfnfQi

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
friedcat
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August 17, 2012, 06:25:17 AM
 #126

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.
Added. Thanks.

The case that some of our competitors get their products working earlier is already considered. Normally it won't be as serious an impact on us as a risk. However, dramatic scenarios like secret startups launching their chips tomorrow, or our competitors lower their price to nearly the margin cost level from day one they deliver their products, are indeed potential risks.

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August 17, 2012, 07:42:44 AM
 #127

Friedcat:

I'm thinking bitfountain had a certain amount of $ in mind when you started the IPO

With the increasing price of BTC vs the $, does this mean you will consider lowering the amount of shares in the IPO ?
 
friedcat
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August 17, 2012, 07:54:24 AM
 #128

Friedcat:

I'm thinking bitfountain had a certain amount of $ in mind when you started the IPO

With the increasing price of BTC vs the $, does this mean you will consider lowering the amount of shares in the IPO ?
 
Yes. New reservations will be closed soon and we will focus on processing old reservations. After all old reservations are either executed or cancelled, and the amount of $ still exceeds our budget plus abundance, we will return the spread as dividends.

DeaDTerra
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August 17, 2012, 08:14:28 AM
 #129

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 always buy new shares as I want to keep my own balance of shares ^^
I think they will be a success and I want a place on the board so why would I sell my own shares? Makes no sense right
//DeaDTerra
friedcat
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August 17, 2012, 01:25:08 PM
 #130

Update

We have raised more than 8k BTC already and have another 7k BTC worth of bulk order reservations to be executed. Thanks to all investors.

From now we no longer process new bulk orders or order reservations. All shares pre-ordered before but not traded yet, are still reserved till the expiration date that each investor has said in the reservation request.

After the reserved orders are either executed or expired, the IPO will finish. Then we will transform the BTCs to fiats. If the fiats exchanged reach the amount of our (budget + redundancy), we will return the rest of the BTCs as dividends. Finally we will send the extra shares to investors.

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August 17, 2012, 01:33:38 PM
 #131

Keep up the good work Smiley We need more choice when it comes to ASIC mining equipment. BFL has to feel the pressure from competition...
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August 17, 2012, 01:42:34 PM
 #132




Congratulations on a quick and successful IPO. 
DutchBrat
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August 17, 2012, 02:18:16 PM
 #133

Congrats !

Let's hope design, production and mining/selling goes a smoothly as this funding round  Cheesy
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August 17, 2012, 03:36:34 PM
 #134

Is the fact that you managed to collect the capital so quickly going to seed up the project, or are you going to wait till end of August anyway?

Also, if I may suggest something, please cash the bitcoins over the counter - we like the price high as it is Tongue

Check out gocoin - my original project of full bitcoin node & cold wallet written in Go.
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Jutarul
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August 17, 2012, 07:12:22 PM
 #135

Update

We have raised more than 8k BTC already and have another 7k BTC worth of bulk order reservations to be executed. Thanks to all investors.

From now we no longer process new bulk orders or order reservations. All shares pre-ordered before but not traded yet, are still reserved till the expiration date that each investor has said in the reservation request.

After the reserved orders are either executed or expired, the IPO will finish. Then we will transform the BTCs to fiats. If the fiats exchanged reach the amount of our (budget + redundancy), we will return the rest of the BTCs as dividends. Finally we will send the extra shares to investors.

While I like the idea of distributing the remainder of the shares proportionally to the existing shareholders, I wouldn't mind if you keep the surplus of money, preferably hold them as BTC. We don't want you to run into liquidity issues too early Wink
But I guess that's a question for which a motion on GLBSE would be good for?

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
Fan.David
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August 18, 2012, 04:14:31 AM
 #136

Hello everyone, I'm a partner of Bitfountain. friedcat is on the train to Beijing for some meetings of the project. He can't access the internet now, your message will be replied as soon as he arrives about 8 hours later.
Jutarul
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August 18, 2012, 05:32:18 AM
 #137

Hello everyone, I'm a partner of Bitfountain. friedcat is on the train to Beijing for some meetings of the project. He can't access the internet now, your message will be replied as soon as he arrives about 8 hours later.

Welcome to the forum!

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
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August 18, 2012, 06:27:48 AM
 #138

Hello everyone, I'm a partner of Bitfountain. friedcat is on the train to Beijing for some meetings of the project. He can't access the internet now, your message will be replied as soon as he arrives about 8 hours later.

I have a question. When is the video chat going to happen that you have been promising me and other larger investors for days now? Every day I ask and everyday Friedcat says sure we'll do it, but nothing happens. I'm getting tired of this.

He was supposed to send out an email about it. I sure haven't received one and it was supposed to happen tomorrow.

Video, or I'm out.
friedcat
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August 18, 2012, 01:40:32 PM
 #139

Hello everyone, I'm a partner of Bitfountain. friedcat is on the train to Beijing for some meetings of the project. He can't access the internet now, your message will be replied as soon as he arrives about 8 hours later.

I have a question. When is the video chat going to happen that you have been promising me and other larger investors for days now? Every day I ask and everyday Friedcat says sure we'll do it, but nothing happens. I'm getting tired of this.

He was supposed to send out an email about it. I sure haven't received one and it was supposed to happen tomorrow.

Video, or I'm out.
Sorry for the absence in the day and the delay of response.

The e-mails about the skype video meeting are sent to all to-be board members.

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August 18, 2012, 01:49:58 PM
 #140

, are still reserved till the expiration date that each investor has said in the reservation request.

Are you able to tell us when is the last of these due / When do you expect to be holding the funds committed?
The last of these due is within the next week. Smiley

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