ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Lohoris]

By the way, as Warren Buffet says, "be fearful when others are greedy, be greedy when others are fearful".
Apparently with AM people are always greedy, regardless it's going up or down.
So vycyd is the only one following this wise advice, so far (at least, publicly).
And he's making huge profits (I guess).
gg to him.

[Aedius]

By the way, as Warren Buffet says, "be fearful when others are greedy, be greedy when others are fearful".
Apparently with AM people are always greedy, regardless it's going up or down.
So vycyd is the only one following this wise advice, so far (at least, publicly).
And he's making huge profits (I guess).
gg to him.

You're completely misinterpreting the quote if you think now is the time to sell. The time to sell was 4-5 BTC/shares when people were being greedy and many prescient people did that. Everyone is being fearful now which makes it a good time to buy. If ASICMINER only paid out a .01 dividend per week going forward, you would be getting 38.5% yield at a share price of 1.35. Personally I think ASICMINER will be able to pay a higher dividend but only time will tell.

[superduh]

anyone on here selling direct shares at around current btct prices?

[Lohoris]

By the way, as Warren Buffet says, "be fearful when others are greedy, be greedy when others are fearful".
Apparently with AM people are always greedy, regardless it's going up or down.
So vycyd is the only one following this wise advice, so far (at least, publicly).
And he's making huge profits (I guess).
gg to him.

You're completely misinterpreting the quote if you think now is the time to sell. The time to sell was 4-5 BTC/shares when people were being greedy and many prescient people did that. Everyone is being fearful now which makes it a good time to buy. If ASICMINER only paid out a .01 dividend per week going forward, you would be getting 38.5% yield at a share price of 1.35. Personally I think ASICMINER will be able to pay a higher dividend but only time will tell.

I don't think I am.

People are greedy even now, so you should be fearful.

Worth quoting again:

People who bought at 4.3: "Why not buy? It's a 30% annual return."
People who bought at 3.5: "Why not buy? It's a 30% annual return."
People who bought at 2.5: "Why not buy? It's a 30% annual return."

All of these people are now facing negative returns at current market prices.

[velacreations]

anyone on here selling direct shares at around current btct prices?

just buy those shares on BTCT, they turn into direct shares within 2 weeks

[Taxidermista]

This time PT shares is handled by burnside, not friedcat. Friedcat does not even have our addresses. But what burnside said is "there are a lot of options", so it seems change PT to direct shares is just one possible option he will take. We need confirmation from burnside what's his solution, but apparently this issue is not on his priority list yet.

Friedcast does have the addresses of PT-investors, in the thread dedicated to burnsides PT, he says that an updated shareholder list is emailed to Friedcat twice per day.

What are those addresses you're talking about? The fixed withdrawal address on every btct.co account? I have no other BTC address linked to my AM shares.

[keeron]

Yup, the fixed wallet address you have on your btct account is probably going to be the one used for direct shares. This needs to be something you can sign messages with as well.

TAT just laid out the plan for transferring the partial PT  shares to other exchanges. For people panicking like crazy, here's an idea: Sell all your AM shares, buy the partial shares, and transfer as suggested. You don't lose anything (unless the PT and partials differ greatly, or your computer dies in the middle of doing this)

[Rannasha]

Yup, the fixed wallet address you have on your btct account is probably going to be the one used for direct shares. This needs to be something you can sign messages with as well.

It's the recently added "public BTC address" that is shared with asset issuers. If you haven't set that yet, do so now (it is also required to trade). The list emailed to asset issuers also includes the email address the account is registered on.

TAT just laid out the plan for transferring the partial PT  shares to other exchanges. For people panicking like crazy, here's an idea: Sell all your AM shares, buy the partial shares, and transfer as suggested. You don't lose anything (unless the PT and partials differ greatly, or your computer dies in the middle of doing this)

Trading on TAT.ASICMINER (the partial-PT) has been frozen by TAT prior to starting the transfer-process. So that path is not an option anymore.

[ThickAsThieves]

Yup, the fixed wallet address you have on your btct account is probably going to be the one used for direct shares. This needs to be something you can sign messages with as well.

It's the recently added "public BTC address" that is shared with asset issuers. If you haven't set that yet, do so now (it is also required to trade). The list emailed to asset issuers also includes the email address the account is registered on.

TAT just laid out the plan for transferring the partial PT  shares to other exchanges. For people panicking like crazy, here's an idea: Sell all your AM shares, buy the partial shares, and transfer as suggested. You don't lose anything (unless the PT and partials differ greatly, or your computer dies in the middle of doing this)

Trading on TAT.ASICMINER (the partial-PT) has been frozen by TAT prior to starting the transfer-process. So that path is not an option anymore.

Theoretically they can buy TAT.AM or AM100 on another exchange and get the same effect.

[freedomno1]

Well updated the FB mmm rip btct

[glendall]

why not just keep them? You're not providing a single good reason for selling this cheap... You will still get the dividends regardless of the actual price on the market. And once friedcat comes with Gen 2 you will be happy that you haven't sold.

Because I've no longer have so much trust on AM as I had before, and because psycology is strange: I hate to have missed the opportunity to make big gains, but I'd hate even more to actually take losses. So I'm selling at a price that would make me go on par (and this would still mean I've partially "lost" the time I've spent in doing this trades).

But... I'm partially convinced I could wait a bit after all, so I've slashed the sell to only ~half of my shares.
(not that I think the order will actually get filled)

You are not alone Lohoris.... sums up my thought process on AM as well.  I made a lot of profit trading prior to the summer... but I see now with AM my judgement was a bit clouded. Couldn't believe it was dropping so much after being on the ride up from 1.3 to 5.0 and should of sold back when I was down 15% (like I normally do) instead of riding it out and hoping for a turn around at like the 60% loss I'm at now.

But that being said I'm holding on   . Ya don't think those 4-5 btc-a-share-days are coming back but still think asicminer is undervalued right now at 1.35 or whatever it is.

Vycid was driving me nuts with all his constant posts on how asicminer should be worth less etc etc etc but hey got to at least give him props for making the move to short, he's the guy making a nice profit in the end,  the annoying bastard /

[tinus42]

Vycid was driving me nuts with all his constant posts on how asicminer should be worth less etc etc etc but hey got to at least give him props for making the move to short, he's the guy making a nice profit in the end,  the annoying bastard /

I think he caused a big chunk of the price drop with his relentless bearish posting in this thread. The rest being withheld divs, low hash rate, the BTCTC situation and other causes. Should have listened to him in hindsight but that is of course always 20/20. There were many others who seemed to have a good strategy and got egg on their faces and also on those who followed them.

[Lohoris]

I think he caused a big chunk of the price drop with his relentless bearish posting in this thread.

I'd rather say that the price going up was also caused by all the loads of people pushing it here (and they were all wrong, apparently).

Oh, maybe AM will surprise us and really deliver an incredible Gen2 or whatever... but I'm no longer optimistic about that.

The main reason is the lack of updates following plenty of updates we had before.
The only reason that comes to my mind to stop giving regular updates is that there are bad news and you don't want to share them.
(this is still much better than lying, of course)

[Vycid]

I think he caused a big chunk of the price drop with his relentless bearish posting in this thread.

I'd rather say that the price going up was also caused by all the loads of people pushing it here (and they were all wrong, apparently).

Oh, maybe AM will surprise us and really deliver an incredible Gen2 or whatever... but I'm no longer optimistic about that.

The main reason is the lack of updates following plenty of updates we had before.
The only reason that comes to my mind to stop giving regular updates is that there are bad news and you don't want to share them.
(this is still much better than lying, of course)

It is better than lying, but I still expect better than "better than lying" from Friedcat.

Maybe the diefication of FC has even gotten into my head...

It's the 23rd. I bet we see an update tonight, or otherwise a disaster later.

[freedomno1]

Agree on the update with the BTCT issue it is around the proper time for these type of clarifications

[GodHatesFigs]

Called out these shares as overpriced at anything over 1BTC months ago. Got shouted down by the Moonflyers. Awful quiet now...

[SebastianJu]

I think for the future it might be better to constantly take a part away for future investments. So that it isnt squished into a short timeframe and shareprice drops. I mean the investment was long time known before. At least it would be a bit more stable then.

Called out these shares as overpriced at anything over 1BTC months ago. Got shouted down by the Moonflyers. Awful quiet now...

So you try to say that a shareprice that gives you 25% a year on divs is overpriced? And now you feel smart because the price is lower?

[keeron]

I think the FUDsters are missing the point that the price for AM (and a lot of other stocks) tanked because of the BTCT closing / panic. The other part is lack of communication from FC.... especially given the issues and questions being raised... a simple "hi, we are doing good towards gen2" might also have helped.

We need to see the next few weeks as these PT shares get transferred over or converted to direct...and then see the sentiment around. If the direct shares are being traded for this low or around 1.8-2.0

[lophie]

I think the FUDsters are missing the point that the price for AM (and a lot of other stocks) tanked because of the BTCT closing / panic. The other part is lack of communication from FC.... especially given the issues and questions being raised... a simple "hi, we are doing good towards gen2" might also have helped.

We need to see the next few weeks as these PT shares get transferred over or converted to direct...and then see the sentiment around. If the direct shares are being traded for this low or around 1.8-2.0

The interesting part that I am dying to see is the part when ASICMINER makes a big announcement but acess to liquidity is very hard due to BTCT fiasco and Bitfunder's G.ASICMINER-PT get swamped with transfers in and out.

I wonder what would happen to the share price at that time.....

[freedomno1]

I think the FUDsters are missing the point that the price for AM (and a lot of other stocks) tanked because of the BTCT closing / panic. The other part is lack of communication from FC.... especially given the issues and questions being raised... a simple "hi, we are doing good towards gen2" might also have helped.

We need to see the next few weeks as these PT shares get transferred over or converted to direct...and then see the sentiment around. If the direct shares are being traded for this low or around 1.8-2.0

The interesting part that I am dying to see is the part when ASICMINER makes a big announcement but acess to liquidity is very hard due to BTCT fiasco and Bitfunder's G.ASICMINER-PT get swamped with transfers in and out.

I wonder what would happen to the share price at that time.....

This scenario makes me laugh evilly because it would be fun to watch
(Sorry I like insanity at times )