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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914072 times)
canth
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November 23, 2015, 09:01:38 PM
 #26801

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.

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AltcoinScamfinder
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November 24, 2015, 12:48:21 PM
 #26802

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.

FOR RENT.
freedomno1
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November 25, 2015, 01:27:41 AM
 #26803

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
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December 04, 2015, 05:44:37 AM
 #26804

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
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December 11, 2015, 02:21:50 AM
 #26805

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? Cheesy

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WizKhalifa
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December 11, 2015, 08:42:40 AM
 #26806

The real holders are screwed since they have no way to sell. They are true bag holders in this scam.
gogxmagog
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December 11, 2015, 09:38:15 AM
 #26807

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? Cheesy
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
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December 11, 2015, 10:22:19 AM
 #26808

So how big will be the next dividend?
chriswilmer
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December 11, 2015, 06:38:39 PM
 #26809

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!
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December 13, 2015, 09:42:37 PM
 #26810

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
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December 14, 2015, 09:32:05 AM
 #26811

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
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December 16, 2015, 12:47:08 AM
 #26812

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.

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bitsalame
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December 16, 2015, 07:49:34 PM
 #26813

Dividends incoming!
ewibit
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December 16, 2015, 08:12:59 PM
 #26814

Dividends incoming!
where?
here
https://blockchain.info/address/1HtUGfbDcMzTeHWx2Dbgnhc6kYnj1Hp24i
is nothing new...
SebastianJu
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December 23, 2015, 10:58:25 AM
 #26815

Dividends incoming!

That actually would be a really interesting turn of events. Cheesy 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. Roll Eyes

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chriswilmer
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December 29, 2015, 05:54:44 PM
 #26816

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 Smiley
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December 29, 2015, 06:52:38 PM
 #26817

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 Smiley

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


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chriswilmer
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December 30, 2015, 05:26:10 AM
 #26818

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 Smiley

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).
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December 30, 2015, 09:15:24 AM
 #26819

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

Hah, no worries, I just hope this ends up being sufficient.

edit... However, based on the dividend history (https://blockchain.info/address/1PYMwZt98TfTj8hWYKaEHUmubALqPC1Kgq) and the 11/24 dividend amount of 0.0000543/share, you had 650 shares, not 450.
chriswilmer
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January 05, 2016, 07:22:16 PM
 #26820

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

Hah, no worries, I just hope this ends up being sufficient.

edit... However, based on the dividend history (https://blockchain.info/address/1PYMwZt98TfTj8hWYKaEHUmubALqPC1Kgq) and the 11/24 dividend amount of 0.0000543/share, you had 650 shares, not 450.

Keen observation!

So, friedcat was still responsive for a few months after 11/24, and in that time he transferred 200 of my shares to Havelock (which, incredibly, could be sold instead of abandoned). Anyway, the dividend history is slightly out of date.

*sigh* Most of my investments in this space actually worked out really well... this one did not... a lesson learned!
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