ASICMINER: Entering the Future of ASIC Mining by Inventing It

[gogxmagog]

So there really is something sustainable worth investing here then...

[BitThink]

What's truly funny is the shares still being traded on havelock. Even at junk prices, the company doesn't even really exist anymore and still people are trading them like any scammy crapcoin.

Exactly. It's no wonder every single offering here is some scam or fail. Obviously people will invest in anything, even a dead horse.

I think the reason is speculation. They know it is dead but it can't become worse. So when the price would be a satoshi then what can happen? 2 Satoshies? Then this would be a profit of 100%. That's the reason why many people trade altcoins. Though the volume is pretty low.

I really don't think any of them believes that the company has a promising future.

It a weird game of cat and mouse
I know its worth 0 you know its worth 0 but we want to see if someone else will sell it at a higher price than they bought it.
Basically a ponzi that doesn't really shut down until havelock finally delists it.

Havelock cannot delist it because if they delist they have to convert virtual stock to real one, which is impossible without friedcat.

[canth]

Havelock cannot delist it because if they delist they have to convert virtual stock to real one, which is impossible without friedcat.

This seems unlikely to be true. Give it another 12 months and they'll delist it...with no issuer actively managing the listing, I don't see how this continues indefinitely.

[AltcoinScamfinder]

Multiple product failures so he decided to cut and run. Not sure why anyone would even consider some other possibility.

I mean it really can't be that hard for shareholders in china to investigate this, isn't it? Check out his wife, his employers and all. And surely you will get your own image of everything. Alone that fact that we "believe" that the story about his wife is only an invention is stupid somehow. Nobody can check it? Really? That sounds unbelieveable.

If i would have been heavily invested AND still had enough money to do it, i surely would fly there for a month and check everything out. That this didn't happen is puzzling me... really. Nothing but mist clouds in this case.

Shortly before everything went down, Jutarul flew to China and met with Friedcat and Co.  Then, when he first disappeared and everyone was speculating (March 3rd 2015), Friedcats main mining address where his funds were being placed paid out 3 large payments (5456btc, 2125btc and 9650 btc transactions).  

https://blockchain.info/address/15h6A2a3D31vRviBDdSpvhLtYJq3aePhdW

My assumption has been that he paid off the largest holders and ran. This is obviously compete speculation on my part.

Seems odd that there is still 12k BTC in that address. If I were to run for the hill I sure as hell wouldn't leave all my funds in an address that is so public.

[freedomno1]

Havelock cannot delist it because if they delist they have to convert virtual stock to real one, which is impossible without friedcat.

This seems unlikely to be true. Give it another 12 months and they'll delist it...with no issuer actively managing the listing, I don't see how this continues indefinitely.

Havelock bought the listing from TAT back in the day when they took his shares, so as far as the manager it is Havelock, basically they can delist their own asset whenever they want since no one is paying to have it on their exchange.

[BitThink]

Havelock cannot delist it because if they delist they have to convert virtual stock to real one, which is impossible without friedcat.

This seems unlikely to be true. Give it another 12 months and they'll delist it...with no issuer actively managing the listing, I don't see how this continues indefinitely.

Havelock bought the listing from TAT back in the day when they took his shares, so as far as the manager it is Havelock, basically they can delist their own asset whenever they want since no one is paying to have it on their exchange.

The problem is that according to the contract, the pass value asset holders have the right to convert PV to real AM share. If it was delisted, the holders will certainly want to convert their PV to real share and Havelock certainly cannot do that since friedcat is missing. Then why they delist it just to bring them a lot of trouble? Put it there does not cost anything anyway.

[SebastianJu]

Maybe we should ask these guys https://bitcointalk.org/index.php?topic=1023187.0 if they know something about the whereabout of asicminer's vanished miners that were hosted in mongolia?

[WizKhalifa]

The real holders are screwed since they have no way to sell. They are true bag holders in this scam.

[gogxmagog]

Maybe we should ask these guys https://bitcointalk.org/index.php?topic=1023187.0 if they know something about the whereabout of asicminer's vanished miners that were hosted in mongolia?

I remember this
Wasn't it determined these guys have nothing to do with FC's exit?
I don't recall. The location is secret anyway, and if they're dealing with FC and stolen miners I'm pretty sure they won't talk.
It all makes me sick

[Timetwister]

So how big will be the next dividend?

[chriswilmer]

Serious question for US AM hodlers out there... how do you go about "abandoning" this investment for tax purposes? I'd happily sell my shares to someone for a penny, if I could... but I presume that would need a response from friedcat.

"Abandonment" of an investment is a real thing from the IRS's perspective, I've just never done it before. If you have experience, let me know!

[dhenson]

Serious question for US AM hodlers out there... how do you go about "abandoning" this investment for tax purposes? I'd happily sell my shares to someone for a penny, if I could... but I presume that would need a response from friedcat.

"Abandonment" of an investment is a real thing from the IRS's perspective, I've just never done it before. If you have experience, let me know!

Sign a message with the private key of the account you hold the shares under selling them to me for $1.  PM me your email address and I'll paypal you the payment (or obviously I could pay in btc). In the event FC comes back, your signed message would be sufficient for him to transfer me the shares so the sale should be binding. AFIAK

[chriswilmer]

Serious question for US AM hodlers out there... how do you go about "abandoning" this investment for tax purposes? I'd happily sell my shares to someone for a penny, if I could... but I presume that would need a response from friedcat.

"Abandonment" of an investment is a real thing from the IRS's perspective, I've just never done it before. If you have experience, let me know!

Sign a message with the private key of the account you hold the shares under selling them to me for $1.  PM me your email address and I'll paypal you the payment (or obviously I could pay in btc). In the event FC comes back, your signed message would be sufficient for him to transfer me the shares so the sale should be binding. AFIAK

Sounds reasonable. Let me double check with my lawyer.

Incidentally, I've been reading more about abandonment. I *think* this can be accomplished by sending friedcat an email saying something to the effect of "I relinquish all rights to my shares." Dated + signed with private key preferably.

[SebastianJu]

Serious question for US AM hodlers out there... how do you go about "abandoning" this investment for tax purposes? I'd happily sell my shares to someone for a penny, if I could... but I presume that would need a response from friedcat.

"Abandonment" of an investment is a real thing from the IRS's perspective, I've just never done it before. If you have experience, let me know!

Sign a message with the private key of the account you hold the shares under selling them to me for $1.  PM me your email address and I'll paypal you the payment (or obviously I could pay in btc). In the event FC comes back, your signed message would be sufficient for him to transfer me the shares so the sale should be binding. AFIAK

Be cautious. Friedcat had the dangerous behaviour to simply trust on the email address. I think it might have been possible to fake transfers with SMTP too when he was still around. He did not ask for any proof.

I only write that in case you hope for a good ending. For selling it with losses to you for tax reasons it is a fine thing.

[bitsalame]

Dividends incoming!

[ewibit]

Dividends incoming!

where?
here
https://blockchain.info/address/1HtUGfbDcMzTeHWx2Dbgnhc6kYnj1Hp24i
is nothing new...

[SebastianJu]

Dividends incoming!

That actually would be a really interesting turn of events. Though if that would happen i would imagine someone would send some satoshies to misuse the attention to try to advertise some project of his or so.

[chriswilmer]

Dear Brandon Lu / XY Jiang (aka "friedcat"),

As of Dec. 29th, 2015 (today), your records should show that I have 450 shares of ASICMINER associated with the shareholder address: 1PYMwZt98TfTj8hWYKaEHUmubALqPC1Kgq

I am writing to let you know that I am permanently surrendering and relinquishing all rights to these 450 shares and, furthermore, that I have not received any payment or other consideration for them (i.e., they have not been sold or traded to anyone else).

You may update your records accordingly.

chriswilmer

P.S. With apologies to "dhenson" -- trust me, if ASICMINER makes a roaring comeback, I'll be more upset about this than you

[OgNasty]

Dear Brandon Lu / XY Jiang (aka "friedcat"),

As of Dec. 29th, 2015 (today), your records should show that I have 450 shares of ASICMINER associated with the shareholder address: 1PYMwZt98TfTj8hWYKaEHUmubALqPC1Kgq

I am writing to let you know that I am permanently surrendering and relinquishing all rights to these 450 shares and, furthermore, that I have not received any payment or other consideration for them (i.e., they have not been sold or traded to anyone else).

You may update your records accordingly.

chriswilmer

P.S. With apologies to "dhenson" -- trust me, if ASICMINER makes a roaring comeback, I'll be more upset about this than you

For this message to carry any meaning whatsoever, it would need to be signed by the address mentioned above. 

[chriswilmer]

Dear Brandon Lu / XY Jiang (aka "friedcat"),

As of Dec. 29th, 2015 (today), your records should show that I have 450 shares of ASICMINER associated with the shareholder address: 1PYMwZt98TfTj8hWYKaEHUmubALqPC1Kgq

I am writing to let you know that I am permanently surrendering and relinquishing all rights to these 450 shares and, furthermore, that I have not received any payment or other consideration for them (i.e., they have not been sold or traded to anyone else).

You may update your records accordingly.

chriswilmer

P.S. With apologies to "dhenson" -- trust me, if ASICMINER makes a roaring comeback, I'll be more upset about this than you

For this message to carry any meaning whatsoever, it would need to be signed by the address mentioned above. 

I don't think the IRS places that kind of burden-of-proof in its audits (obviously, since digital signatures have not spread to the mainstream yet... even most lawyers (!) I've spoken to don't know what they are). If the IRS required a digital signature during an audit, I could do that then.

As far as friedcat/ASICMINER, he hasn't required digital signatures for share transfers in the past (even if maybe he should have).