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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3896887 times)
thx1164
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May 18, 2013, 07:59:54 PM
 #5201

Regarding the transaction fees, it is indeed difficult to determine what will happen, but if they aren't high enough to provide incentive for the miners, then they won't go through. Funny thing that.. we may end up mining not because of the transaction fees but because failure to mine means our existing bitcoins may become worthless.

No one will mine with transaction fees not at least equaling out to the amount of money via electricity going in, and therefore simply will not accept tx fees below a market set amount, which will cover costs + profit. Only the small minority with "free" energy will be able to afford not to do so, and eventually I'm sure landlords, business owners etc, will all wise up. Mining farms will be centralized near the cheapest sources of energy.  Holy conspiracy theories Batman, what if Satoshi was trying to get the free market to develop free or reduce the cost of energy by giving an incentive to make energy delivery more efficient?

*edit: Even if that is just a side effect, it would be a good one...
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May 18, 2013, 10:15:08 PM
 #5202


Will take me a while to climb up again, But where is a will, there is a way...
shibaji
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May 18, 2013, 10:16:59 PM
 #5203


ASICMINER shares at 2BTC will soon look like a steal  Grin

Very nice!
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May 18, 2013, 10:49:54 PM
 #5204

Unbelievable!! It might be the first btc company to hit a billion $ valuation a few years!
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May 18, 2013, 10:57:55 PM
 #5205

^There seems to be a lot of people figuring out that these are valuable shares.

My take is this....

The purchase price is in bitcoins, and you get paid dividends in bitcoins, and the price of bitcoins is generally going up up up.

Basically, I parked some of my bitcoins there by buying shares....those shares are going up in price, and the price of bitcoins is rising as well.

So really you are getting paid multiple benefits for bitcoins that would be sitting in a storage wallet anyway...the only thing you are doing is assuming some small amount of risk.  

When you look at who is running the exchanges (burnside etc.) and how they have set things up, and you read about him that small amount of risk seems very acceptable to me.

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May 18, 2013, 11:02:48 PM
 #5206

^There seems to be a lot of people figuring out that these are valuable shares.

My take is this....

The purchase price is in bitcoins, and you get paid dividends in bitcoins, and the price of bitcoins is generally going up up up.

Basically, I parked some of my bitcoins there by buying shares....those shares are going up in price, and the price of bitcoins is rising as well.

So really you are getting paid multiple benefits for bitcoins that would be sitting in a storage wallet anyway...the only thing you are doing is assuming some small amount of risk.  

When you look at who is running the exchanges (burnside etc.) and how they have set things up, and you read about him that small amount of risk seems very acceptable to me.

This. Plus it's also a slight hedge against a falling BTC/USD price because even if the price dips, so long as ASICMINER's value stays constant or goes up, you are still earning "interest" (aka dividends) and gaining more BTC vs. just holding BTC and getting nothing for it.

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May 18, 2013, 11:26:03 PM
 #5207

I bought over 60 1/100th ASICMINER Passthru shares @ Havelock today. Hope it will pan out as expected. Smiley
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May 19, 2013, 12:43:37 AM
 #5208

Did the price of the share drop on BTCT because of the attacks, or did it drop everywhere ?  Huh

Don't watch minute by minute - just kick back and relax - come back after few months.
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May 19, 2013, 12:46:05 AM
 #5209

Did the price of the share drop on BTCT because of the attacks, or did it drop everywhere ?  Huh

May have something to do with this auction:

https://bitcointalk.org/index.php?topic=208348.0

400 shares of ASICminer.  With the highest bid at 1.8 BTC/share.  Lowest bid at 1.73 BTC/share.
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May 19, 2013, 12:46:59 AM
 #5210

Did the price of the share drop on BTCT because of the attacks, or did it drop everywhere ?  Huh

Some possibilities:

1) some buyers just realized that they can buy bulk shares cheaper than on the exchanges (maybe, but those who would likely use OTC already know about it)
2) some buyers became hesitant because they realized the stock is very difficult to value (hopefully a bit of this -- I have invested in the stock so I hope people keep buying, but I don't want fellow shareholders to be panic selling later when they have second thoughts)
3) the BTC price just had some action in the past few hours, so buyers are making a run to exchange for USD, or are keeping their assets in BTC in case the exchange rate goes higher (If I were to bet, I would say this is the primary cause)
Bitcycle
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May 19, 2013, 12:58:22 AM
 #5211

Another possibility is people selling passthrough shares to fund their auction purchase.  The difference is still enough to make it worth doing.
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May 19, 2013, 01:08:46 AM
 #5212

Another possibility is people selling passthrough shares to fund their auction purchase.  The difference is still enough to make it worth doing.

Makes sense move equity to bid on it that said this seems like a fair presentation of the current history to date how you decide is your call
http://www.youtube.com/watch?v=76EcAinKPDo&feature=youtu.be
lophie
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May 19, 2013, 01:43:43 AM
 #5213

Another possibility is people selling passthrough shares to fund their auction purchase.  The difference is still enough to make it worth doing.

Makes sense move equity to bid on it that said this seems like a fair presentation of the current history to date how you decide is your call
http://www.youtube.com/watch?v=76EcAinKPDo&feature=youtu.be

oh man if rastapool cancelled the auction they would be soooo burned...

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May 19, 2013, 01:45:22 AM
 #5214

oh man if rastapool cancelled the auction they would be soooo burned...

It would not look good for rastapool and from words that I've exchanged with him, he does not seem like that kind of person.
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May 19, 2013, 02:02:36 AM
 #5215

oh man if rastapool cancelled the auction they would be soooo burned...

more likely that the price jumps above the PTs...

JordanL
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May 19, 2013, 02:05:22 AM
 #5216

oh man if rastapool cancelled the auction they would be soooo burned...

more likely that the price jumps above the PTs...

I'd guess that you're right. Bidding in the last hour of that auction will likely push the price to BTC2+.
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May 19, 2013, 02:08:06 AM
 #5217

This thread has slowly turned into a speculator troll box.

I hope Friedcat does something about it, like having an AM website / forum !!!
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May 19, 2013, 02:09:14 AM
 #5218

This thread has slowly turned into a speculator troll box.

I hope Friedcat does something about it, like having an AM website / forum !!!

Official AM website: https://bitcointalk.org/index.php?action=profile;u=49840;sa=showPosts  Wink

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May 19, 2013, 02:11:53 AM
 #5219

oh man if rastapool cancelled the auction they would be soooo burned...

more likely that the price jumps above the PTs...

As they should, these are direct shares with friedcat himself. You even get confirmation satoshis! That itself bears a premium (more than the satoshi itself).
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May 19, 2013, 02:16:02 AM
 #5220

oh man if rastapool cancelled the auction they would be soooo burned...

more likely that the price jumps above the PTs...

As they should, these are direct shares with friedcat himself. You even get confirmation satoshis! That itself bears a premium (more than the satoshi itself).

Really? Because you can move out of the PTs to direct for free, and have better access to liquidity when in a PT. So I'm not sure why direct shares would go at a premium.
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