ASICMINER: Entering the Future of ASIC Mining by Inventing It

[hdbuck]

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

It would still be fairly expensive even at 0.013 5000 shares is 65 BTC
@ 300 USD = $19,500

not if that is to be 'the new-emblematic-investor' who woudnt obviously mind such cheap buy in.

we're talking industry here ^^

[muyuu]

Best case scenario: they get investors with fresh money, giving them a priority deal - diluting current shareholder's stake worse than 1:1 on new capital.

Worst case and seemingly most likely scenario: game over, AM is worth zero and any money made from the IP/assets won't make it to the shareholders.

[jdany]

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.

[hdbuck]

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.

[Fordee]

Alternate scenerio:  Chip samples confirmed, all thats lacking is funds..  I'm sure that aside from  bitfountain assets/shares (2/3 of AM), that friedcat and David both made some good coin out of AM, sitting somewhere safe.  -- the IP is ready to turn into wafers, and the costs were known and planned for already. .. where is that coin hiding?   I have a hard time believing they are bankrupt...but i would believe a muti-sig wallet currently inaccessible.  

Keep in mind that the current gen chip masks are still good, and the current inventory is unknown... If AM resolves its issues and self-mines with current chips, the only real ongoing cost is electricity..  They could still slowly self-fund a revival...  Just dont expect divs soon.  Then again, most companies don't pay divs in the real world anyway.

[ninjarobot]

What is ASICMiner's bus factor?

This is an excellent question, a pity it was ignored.
Or, it was ignored because maybe nobody knows the official answer (since the inner workings of ASICMINER aren't exactly clear), or because it is known that the bus factor is 1.

Took a while, but finally we know the answer to this question.

[MidwestMiner]

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.

If you can get "a few hundred" shares of Apple for $20k, hook me up

[mc_lovin]

[MidwestMiner]

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

It would still be fairly expensive even at 0.013 5000 shares is 65 BTC
@ 300 USD = $19,500

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

It was a nice dream while it lasted, with a honeymoon period and then a slow then steady decline

Obligatory depression post:

5000 shares at the peak of AM = 30,000 BTC+ @ that times BTC price = $150 BTC) = 4.5 million
Today: $18k and change.

[jdany]

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.

If you can get "a few hundred" shares of Apple for $20k, hook me up

It was in the same ballpark.  I spent more on apple than I would have buying a board seat - But, way less anxious about the investment.

[Satan666]

Best case scenario: they get investors with fresh money, giving them a priority deal - diluting current shareholder's stake worse than 1:1 on new capital.

But that's not an option:

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.

[Satan666]

...
I hear that some parties are considering legal steps. Let me tell you that from experience this won't end well for anybody and only results in wasting money on the parasitic elements of our economy. ...

My army of bankers, politicians, and lawyers can hardly be considered "parasitic elements".  They could have prevented this unfortunate mess.

[Fordee]

But that's not an option:

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.

Meh... True... unless you hold the purse-strings, and decide to say "Fuck it.. I'm only paying myself.." or new shareholders brought onboard.

Why dilute when you can just erase?    

(Opens excel spreadsheet, highlights shareholder bitcoin addy entries... presses delete..  Presses Save.")

(Open - New File..> Now offering 1/3 of our new company to new investors....   Bitfountain's shares stay intact/transferred..)

Done.

[Satan666]

But that's not an option:

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.

Meh... True... unless you hold the purse-strings, and decide to say "Fuck it.. I'm only paying myself.." or new shareholders brought onboard.

Why dilute when you can just erase?    

(Opens excel spreadsheet, highlights shareholder bitcoin addy entries... presses delete..  Presses Save.")

(Open - New File..> Now offering 1/3 of our new company to new investors....   Bitfountain's shares stay intact/transferred..)

Done.

Bitfountain already owns approximately 60% of the company.  They don't have to dilute or erase current shareholders to sell 1/3 of the company:

No Future Dilution Each share of ASICMINER always
represents 1/400,000 of the whole company. If we have to attract more investors
in the future, we will only sell our own Bitfountain shares.

[richwang]

where is the cat?

[cloh76]

So if someone was to bail the company out and fund new equipment, could they elect a new board, establish new leadership, and remove who they see fit to remove?

[flame1012]

So if someone was to bail the company out and fund new equipment, could they elect a new board, establish new leadership, and remove who they see fit to remove?

Just hold your breath and wait the other board members to be kidnapped
Seems like the company got so far in spite of the board itself.

[EternalWingsofGod]

Obligatory depression post:

5000 shares at the peak of AM = 30,000 BTC+ @ that times BTC price = $150 BTC) = 4.5 million
Today: $18k and change.

Indeed that is a scary decrease from a paper millionaire to a pauper well half a year wages
Is one giant drop

[flame1012]

The Chinese government will get the true story out of them.
Their lies are naive.
I see no other option than taking legal action.

[Kipsy89]

Sell the company to BITMAIN and get this over with, man... Bitfountain should just sell their shares or the IP or whatever and buy the shareholders out... Aww man this is sad...