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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3707877 times)
keystroke
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October 04, 2012, 05:10:11 PM
 #621

I'd like to remind everyone that a GLBSE shutdown does not put your shares directly in danger (in contrast to account hacking). It just prevents ASICMINER shares from being (efficiently) traded.
Good point. Assuming GLBSE comes back online soon, perhaps Friedcat should prepare for all-out transfer of shares per contracts akin to keystroke's above.

Yes but how can we prove we own those shares? Does ASICMINER have a record of the current status of all shares traded on GLBSE?

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niko
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October 04, 2012, 05:34:37 PM
 #622

I'd like to remind everyone that a GLBSE shutdown does not put your shares directly in danger (in contrast to account hacking). It just prevents ASICMINER shares from being (efficiently) traded.
Good point. Assuming GLBSE comes back online soon, perhaps Friedcat should prepare for all-out transfer of shares per contracts akin to keystroke's above.

Yes but how can we prove we own those shares? Does ASICMINER have a record of the current status of all shares traded on GLBSE?

We don't know yet what kinds of issues have arisen with GLBSE, but from the lack of explanation it seems that lawyers are involved. If shutdown is temporary, when it comes back online you will decide if you are staying in or transferring shares to Bitfountain's custody. If the shutdown is for more permanent reasons, I hope Nefario would be able to provide ownership information to asset issuers.

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October 04, 2012, 05:52:46 PM
 #623

I hope Nefario would be able to provide ownership information to asset issuers.

+1

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
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October 04, 2012, 06:13:46 PM
 #624

Regarding having ASICMINER/bitfountain take over control of our shares in the company..

Is there any minimum investment level to be able to do this?

Of course we will have to wait and see now what happens with GLBSE, but as long as we all don't loose our shares over this I think I would rather let the company handle shares then rely on a 3rd party site.
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October 04, 2012, 06:20:17 PM
 #625

My partner and I had been talking about the temperary offline of GLBSE till now.

After our discussion, we agreed that we should make the following actions:

1. Accepting any amount of share lock-ins, with no lowest thresholds.
2. Building a platfom to automate the process.

And for MU and MOORE, which are managed in the name of myself, I will offer the same services.

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October 04, 2012, 07:40:54 PM
 #626

My partner and I had been talking about the temperary offline of GLBSE till now.

After our discussion, we agreed that we should make the following actions:

1. Accepting any amount of share lock-ins, with no lowest thresholds.
2. Building a platfom to automate the process.

And for MU and MOORE, which are managed in the name of myself, I will offer the same services.

I hope that GLBSE will not impede on this? What are you considering in the event that GLBSE cannot allow for future share trading? (This will require different contracts to be drawn up..)

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October 04, 2012, 07:51:23 PM
 #627

My partner and I had been talking about the temperary offline of GLBSE till now.

After our discussion, we agreed that we should make the following actions:

1. Accepting any amount of share lock-ins, with no lowest thresholds.
2. Building a platfom to automate the process.

And for MU and MOORE, which are managed in the name of myself, I will offer the same services.

I hope that GLBSE will not impede on this? What are you considering in the event that GLBSE cannot allow for future share trading? (This will require different contracts to be drawn up..)
And how do I prove ownership in case trading within GLBSE is halted? Assuming Nefario is able to and willing to cooperate, how would this work?

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October 05, 2012, 12:49:48 AM
 #628

Ok GLBSE is totally down now..

Doh!   Lips sealed

I had just deposited 50 BTC yesterday into my brand new GLBSE account, though I stopped short of buying any securities after I researched the whole situation some more.

I wish I'd gone with my gut and withdrawn them right away last night after my decision against purchasing securities on there.

self.fail();

I hope to get them back, but given the feel of things, I'm not counting on it.

"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S." - President F.D. Roosevelt, 1933
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October 05, 2012, 02:13:53 AM
 #629

My partner and I had been talking about the temperary offline of GLBSE till now.

After our discussion, we agreed that we should make the following actions:

1. Accepting any amount of share lock-ins, with no lowest thresholds.
2. Building a platfom to automate the process.

And for MU and MOORE, which are managed in the name of myself, I will offer the same services.

Are you saying that I can buy (a not overly large quantity of) shares of ASICMINER directly from you/Bitfountain?

Please, keep me us informed.  I'm interested.

"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S." - President F.D. Roosevelt, 1933
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October 05, 2012, 03:16:33 AM
 #630

Ok GLBSE is totally down now..

Doh!   Lips sealed

I had just deposited 50 BTC yesterday into my brand new GLBSE account, though I stopped short of buying any securities after I researched the whole situation some more.

I wish I'd gone with my gut and withdrawn them right away last night after my decision against purchasing securities on there.

self.fail();

I hope to get them back, but given the feel of things, I'm not counting on it.
Haha - early last week I tried to get out of DeadTerra's Gamma Fund because I was a bit worried it was going bad... over a week later he closed it and is going to pay us all based on the % he is able to get back after liquidating the fund. So I was too late as my withdrawal will not go through now.

Two days ago I decided to get out of GLBSE because I don't trust the site anymore. I send my contract back to friedcat and what do you know... GLBSE takes their site down today before I can transfer my shares to him! Cheesy These are the only two investments I have made with my Bitcoins, small amounts, because I am pretty paranoid/careful in general. It is really hard not to get caught up in this stuff! That said, yes, the fund was a riskier investment and I accept that (although I wish my withdrawal was honored 100%, I understand why DT is doing it the way he is), but GLBSE going down without any explanation is definitely not cool.

Well, I did have a few bitcoin in mybitcoin.com, but I was just messing around... and in 2009 I sent a guy a few Bitcoins because I thought it was a prototype! haha. We should start a support group for all the ways Bitcoins can get lost/stolen/etc. There are so many possibilities! Cheesy Well, back to hoarding (sorry to say this). Although I am still 100% behind ASICMINER and continue to plan to transfer my shares - actually when I was liquidating Gamma Fund I had planned to put some of into ASICMINER because I really believe it is a good play. Too bad I can't do that now.

It's sort of funny though... I'll let everyone know in the future if I make any BTC investments so they can sell out just before I do Cheesy

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October 05, 2012, 03:28:33 AM
 #631

I kinda wish I had colored coins....

I guess I'm the eternal optimist. I'm thinking GLBSE will be ok.

keystroke
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October 05, 2012, 03:34:06 AM
 #632

I kinda wish I had colored coins....

I guess I'm the eternal optimist. I'm thinking GLBSE will be ok.
I think it will be ok too but the problem is we have to just cross our fingers and hope Smiley Whereas the beauty of Bitcoin is how removes the need for centralized authority and trust - that doesn't give us everything though. We still have to build the economy and other technical solutions like Open Transactions, etc.

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October 05, 2012, 04:01:48 PM
 #633

Friedcat:

Did you guys take all the BTC out of GLBSE after the IPO was closed ? I hope you have the remaining BTC somewhere safe in an offline wallet !
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October 05, 2012, 05:23:43 PM
 #634

Oh good thought.. that would suck if the company funds got tied up in this too  Undecided
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October 05, 2012, 07:06:03 PM
 #635

Friedcat:

Did you guys take all the BTC out of GLBSE after the IPO was closed ? I hope you have the remaining BTC somewhere safe in an offline wallet !
Like every other assets on GLBSE the IPO btc are sent to the owner.

In this case, not only are they in Friedcat hands, they have been sold at ~8 and spend on ASIC production. (most / not all)
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October 05, 2012, 08:58:49 PM
 #636

@keystroke

"We should start a support group for all the ways Bitcoins can get lost/stolen/etc. There are so many possibilities!"

Unfortunately too many ! that is a very bad aspect of bitcoin. If GLBSE will not return, some bitcoins will def. be lost forever  Cry
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October 05, 2012, 09:27:22 PM
 #637

Friedcat:

Did you guys take all the BTC out of GLBSE after the IPO was closed ? I hope you have the remaining BTC somewhere safe in an offline wallet !
Like every other assets on GLBSE the IPO btc are sent to the owner.

In this case, not only are they in Friedcat hands, they have been sold at ~8 and spend on ASIC production. (most / not all)

I knew they had sold a significant amount.
Good to know the remainder does not reside on glbse
Tthanks for the info
keystroke
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October 05, 2012, 10:49:57 PM
 #638

Friedcat:

Did you guys take all the BTC out of GLBSE after the IPO was closed ? I hope you have the remaining BTC somewhere safe in an offline wallet !
Like every other assets on GLBSE the IPO btc are sent to the owner.

In this case, not only are they in Friedcat hands, they have been sold at ~8 and spend on ASIC production. (most / not all)

I knew they had sold a significant amount.
Good to know the remainder does not reside on glbse
Tthanks for the info

Yea, thanks to deeplink in this thread for calling it. I was suspicious of GLBSE when the vulnerability from 0.6.3 came out I think - GLBSE went down for a bit to download the blockchain again. They had not upgraded to 0.6.3 when it came out and it took the known exploit to be released for them to do the upgrade. My memory could be a bit fuzzy here but that's basically what happened...

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October 05, 2012, 11:58:29 PM
 #639

friedcat - Do you have a plan if GLBSE doesn't come back on line or if (for whatever reason) you're de-listed?

I'm not attacking, but truly curious as to what you've thought about.

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October 06, 2012, 12:42:47 AM
 #640

friedcat - Do you have a plan if GLBSE doesn't come back on line or if (for whatever reason) you're de-listed?

I'm not attacking, but truly curious as to what you've thought about.

It's too early to ask this - let's see what Nefario says first.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
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