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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3725662 times)
Jutarul
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October 06, 2012, 12:48:22 AM
 #641

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.

GLBSE is not coming back online. ASICMINER will have to go through a delisting procedure.
https://bitcointalk.org/index.php?topic=115669.0

The delisting is actually good news. Because it allows us to properly resolve shareholder claims.
However, it may take a few days to decide how the shares will get managed in the near future.
I suspect the next action will be a board meeting.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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October 06, 2012, 03:32:12 AM
 #642

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.

GLBSE is not coming back online. ASICMINER will have to go through a delisting procedure.
https://bitcointalk.org/index.php?topic=115669.0

The delisting is actually good news. Because it allows us to properly resolve shareholder claims.
However, it may take a few days to decide how the shares will get managed in the near future.
I suspect the next action will be a board meeting.
Yea this is actually good news. friedcat wrote me back and said he would process my contract for getting my shares off of the GLBSE in a batch with everyone else. So it looks as though something is starting to happen.

PS, from www.glbse.com:


GLBSE has been closed

I'm sorry to inform all our users that GLBSE is no longer able to continue operating, and has now closed.

Q: What does this mean if I'm an issuer?

We will do everything in our power to make the process of moving off GLBSE as smooth as possible, we are currently working on a simple, safe, and easy to use method that will allow you to continue your relationship with your asset holders

Q:I'm a GLBSE user, what about my assets and my bitcoin?

You will be able to get back your bitcoin, and if you want to reveal your username, email, and a bitcoin address to accept payments with, you can continue your relationship with the issuer of any assets you hold.

We will begin retuning bitcoin once we have recieved all coins from the GLBSE treasurer that manages the GLBSE cash reserves. BitcoinGlobal (GLBSE's partent company) shareholders and board voted for them to be returned immediately, we are awaiting compliance with this order.

"The difference between a castle and a prison is only a question of who holds the keys."
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October 06, 2012, 09:33:13 AM
 #643

ASICMINER operators / issuers should demand a list of investors from GLBSE (glbse.com account emails) and contact each and every investor, either paying back or offering a new contract (under the same premises, obv).
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October 06, 2012, 09:42:14 AM
 #644

If anyone wants to cash out I'm willing to buy your claim if it's not too large. Provided that friedcat accepts the transfer of ownership.

Send me a pm if you're interested.
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October 06, 2012, 10:00:55 AM
 #645

If anyone wants to cash out I'm willing to buy your claim if it's not too large. Provided that friedcat accepts the transfer of ownership.

Send me a pm if you're interested.

I hold 3 shares.  How can i sell it to you tucenaber, since glbse.com is off?
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October 06, 2012, 10:21:42 AM
 #646

Using your bitcoin client, you could sign a message saying that you transfer the rights to the shares over to me provided that you get payed a certain amount. If friedcat is willing to accept it, I send you money and that's that.
The problem is of course that you need a way to prove that you actually have a GLBSE account. Can you do that?
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October 06, 2012, 10:51:27 AM
 #647

Using your bitcoin client, you could sign a message saying that you transfer the rights to the shares over to me provided that you get payed a certain amount. If friedcat is willing to accept it, I send you money and that's that.
The problem is of course that you need a way to prove that you actually have a GLBSE account. Can you do that?

well, the only way to do that, is my login credentials to glbse, which are useless atm.  Undecided
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October 06, 2012, 02:38:44 PM
 #648

Does anyone really want to send glbse their email address, etc. ?

This might lead to some liabilty.

What a crappy situation.
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October 06, 2012, 02:52:35 PM
 #649

Does anyone really want to send glbse their email address, etc. ?

This might lead to some liabilty.

What a crappy situation.

I do want to. Just tell me how.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
bitcoinbear
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October 06, 2012, 03:54:08 PM
 #650

Does anyone really want to send glbse their email address, etc. ?

This might lead to some liabilty.

What a crappy situation.

Doesnt glbse already have our email addresses? that is how you log in...

CryptoNote needs you! Join the elite merged mining forces right now here in Fantomcoin topic: https://bitcointalk.org/index.php?topic=598823.0
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October 06, 2012, 03:58:29 PM
 #651

Does anyone really want to send glbse their email address, etc. ?

This might lead to some liabilty.

What a crappy situation.

Doesnt glbse already have our email addresses? that is how you log in...
Yea that's what I was about to post Wink They have mine at least yea. Sometimes I stay anonymous but other times I don't. This is a case where I didn't try.

"The difference between a castle and a prison is only a question of who holds the keys."
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October 06, 2012, 04:52:13 PM
 #652

Does anyone really want to send glbse their email address, etc. ?

This might lead to some liabilty.

What a crappy situation.

Doesnt glbse already have our email addresses? that is how you log in...
I was logging in with my user name, not email address.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
niko
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October 06, 2012, 05:00:21 PM
 #653

Does anyone really want to send glbse their email address, etc. ?

This might lead to some liabilty.

What a crappy situation.

Doesnt glbse already have our email addresses? that is how you log in...
I was logging in with my user name, not email address.

I think you could login either with email address or username.

Anyway, is Nefario really willing to refund us?

If you were holding any bitcoins on GLBSE, this question should be posted in an appropriate thread, not here.

The question here is if and how GLBSE will be handling issuance of claim tickets so investors can work things out with willing issuers - and fortunately, friedcat seems willing.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
niko
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October 06, 2012, 05:06:24 PM
 #654

Friedcat, assuming Bitfountain continues to take over management of shares - what is the contingency plan in case bitcointalk.org disappears? How can your investors keep themsleves up to date and communicate with the company?

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
Jutarul
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October 06, 2012, 05:21:16 PM
 #655

Friedcat, assuming Bitfountain continues to take over management of shares - what is the contingency plan in case bitcointalk.org disappears? How can your investors keep themsleves up to date and communicate with the company?
The quickest way is to establish a user mailiing-list, e.g. public@bitfountain.com.
If I remember correctly one of the plans was to establish a minimal version of the website within the next 2 months, which should contain all the standard ways of getting in touch.

BTW I urge everyone to be patient. The delisting procedure is a hell of a management task, especially if all the people with 1-20 shares want to get individual treatment. I am hoping friedcat can provide some stats (number of delisting keys, number of keys below 100 shares) so we have an idea of how intense the delisting will be.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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October 06, 2012, 06:19:03 PM
 #656

I have 28 shares and I hope this situatio will be solved somehow. Sucks that GLBSE is closed, I guess it was the fucking feds...
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October 06, 2012, 06:29:09 PM
 #657

BTW I urge everyone to be patient. The delisting procedure is a hell of a management task, especially if all the people with 1-20 shares want to get individual treatment. I am hoping friedcat can provide some stats (number of delisting keys, number of keys below 100 shares) so we have an idea of how intense the delisting will be.
I agree about the patience. Also, we should all understand that even if everything ends up well, there will be lots of additional work someone will need to put in to make it end well. I would be fine with donating a few of my shares to whoever will be managing claims. I would be even happier if this were formalized in some way - charge shareholders a fee.

Finally, just throwing this in here - few days ago Havelock Investments posted this on their Website:
Quote
List with us!
October 2nd. 2012: Havelock Investments is pleased to announce it is now accepting applications for funds to list on our exchange. We strive to achieve a very high level of both transparency and confidence, and will be thorougly vetting any applications. We will only accept the highest quality funds into our exchange. If you would like to apply, simply Contact Us via email and describe your company/fund, its dividend/growth strategy and provide complete contact information, so we can contact you to move forward.
I know we all just suffered a blow because of GLBSE, and you may ask how Havelock would be different. This is a good question, and I encourage you to ask them yourselves. I've been using their services for a few months now.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
Jutarul
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October 06, 2012, 06:44:20 PM
 #658

I know we all just suffered a blow because of GLBSE, and you may ask how Havelock would be different. This is a good question, and I encourage you to ask them yourselves. I've been using their services for a few months now.
I think the first question which should be answered is whether ASICMINER should do the listing with a legally blessed entity or with a website which exists outside of any jurisdiction. Given that ASICMINER is an officially registered company, the first choice would be better in the long run. Then shareholders can create pass-through offers on other exchanges (but that might be illegal again...).

I wouldn't really recommend to create a custom shareholder exchange or an order book, because ASICMINER is not in the business of creating safe and secure exchanges. A mediocre solution for an exchange is a liability to shareholders.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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October 06, 2012, 07:14:04 PM
 #659

I know we all just suffered a blow because of GLBSE, and you may ask how Havelock would be different. This is a good question, and I encourage you to ask them yourselves. I've been using their services for a few months now.
I think the first question which should be answered is whether ASICMINER should do the listing with a legally blessed entity or with a website which exists outside of any jurisdiction. Given that ASICMINER is an officially registered company, the first choice would be better in the long run. Then shareholders can create pass-through offers on other exchanges (but that might be illegal again...).

I wouldn't really recommend to create a custom shareholder exchange or an order book, because ASICMINER is not in the business of creating safe and secure exchanges. A mediocre solution for an exchange is a liability to shareholders.

I don't care much about being able to trade - I got in because I wanted to help fund this ASIC project, and reap profits (if any) from it. In hindsight, a pre-order approach akin to BFL and Avalon would have eliminated the risk of intermediary (GLBSE) going titsup. So, from my perspective, it'd be perfect if ASICMINER simply acquired information on shareholders, and paid them dividends if and when the profits start flowing in. Shareholders can work out "trading" among themselves as they see fit.

I understand, however, that others may have invested with the hopes of being able to actively trade shares, and that is why I suggested you consider alternative exchanges such as Havelock, which leans heavily towards transparency and regulatory compliance.

Finally, I absolutely agree that ASICMINER should remain focused on engineering and mining, and not engage in offering an orderbook or any trade management services.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
DutchBrat
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October 06, 2012, 07:20:49 PM
 #660

+1000

Freaky, I was just going to type exactly the same, wording and sentiment
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