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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 1513127 times)
e21
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August 14, 2012, 07:13:34 PM
 #61

I've never bought shares of a company on GLBSE before, or used stocks, however I would like to support ASICMINER. I have created an account on GLBSE, and am currently waiting for bitcoins to appear in my account, I had one question though:

The page states that "if the total money raised from ASICMINER and the real-world is not enough to cover the cost required by the foundry to tape out the ASIC chips before August 28, 2011, 100.5% of the total Bitcoins raised from ASICMINER will be returned".. since it is now almost Aug 28 2012 I am assuming that the chip is in production already? Is there anything that might stop this from coming to market at this point?

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August 14, 2012, 07:24:30 PM
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Update

A more detailed estimation about the return is shown online, based on the condition given in the main thread:

https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdGppUktrYmlIZ3MwRUxhZTk0WEJBd1E

Currently it considers three variables:

1. The electricity fee. (0$/KWh and 0.1$/KWh)
2. The total hashrate of the whole network.
3. Block reward halving. (before and after)

More factors will be taken into consideration.


Correct me if I'm wrong, but profitability outlined in this spreadsheet shows return rates prior to ASICMINER share principle being fully returned.  Post principle repayment these return figures reduce by 50%.

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August 14, 2012, 07:36:18 PM
 #63

I've never bought shares of a company on GLBSE before, or used stocks, however I would like to support ASICMINER. I have created an account on GLBSE, and am currently waiting for bitcoins to appear in my account, I had one question though:

The page states that "if the total money raised from ASICMINER and the real-world is not enough to cover the cost required by the foundry to tape out the ASIC chips before August 28, 2011, 100.5% of the total Bitcoins raised from ASICMINER will be returned".. since it is now almost Aug 28 2012 I am assuming that the chip is in production already? Is there anything that might stop this from coming to market at this point?



I am 100.5% sure that's a typo Wink ASICs are a 2012 topic.

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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August 14, 2012, 08:38:27 PM
 #64

I've never bought shares of a company on GLBSE before, or used stocks, however I would like to support ASICMINER. I have created an account on GLBSE, and am currently waiting for bitcoins to appear in my account, I had one question though:

The page states that "if the total money raised from ASICMINER and the real-world is not enough to cover the cost required by the foundry to tape out the ASIC chips before August 28, 2011, 100.5% of the total Bitcoins raised from ASICMINER will be returned".. since it is now almost Aug 28 2012 I am assuming that the chip is in production already? Is there anything that might stop this from coming to market at this point?



I am 100.5% sure that's a typo Wink ASICs are a 2012 topic.

 Grin I was wondering about that, I thought that maybe development started back then or something. So do all the shares available on GLBSE need to be purchased in order for this to be produced?
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August 14, 2012, 09:18:03 PM
 #65

...new shares of ASICMINER aren't being sold on GLBSE anymore? The price just jumped to 250% of what it was.

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August 14, 2012, 09:25:13 PM
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wow. news got through to the majority of the community I think.

I guess the next buy opportunity is when shares from the private bulk are offered to the public.

EDIT: I see a lot of asks with huge volumes. I think someone is trying to make a profit from the IPO assuming the companys offering is too low...

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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August 14, 2012, 09:52:29 PM
 #67

I am selling ASICMINER shares, if you want some then PM me!
//DeaDTerra
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August 14, 2012, 10:17:32 PM
 #68

I am selling ASICMINER shares, if you want some then PM me!
//DeaDTerra

At market price or IPO price  Roll Eyes

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August 14, 2012, 10:18:39 PM
 #69

I am selling ASICMINER shares, if you want some then PM me!
//DeaDTerra

At market price or IPO price  Roll Eyes
Price depends on volume, PM me and we can discuss the price Smiley
It won't be 2x the IPO price like the market Wink
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August 14, 2012, 10:19:03 PM
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I'm just glad I got to buy some before they all went at a decent price.

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August 15, 2012, 12:21:13 AM
 #71

I am selling ASICMINER shares, if you want some then PM me!
//DeaDTerra

So, 24 hour volume was 1414.129 btc. I don't remember the quantity that was offered at 0.1 but it was more than 1414 btc worth.  Is that normal for issued shares to trade privately, off the exchange, *after* the IPO?

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August 15, 2012, 12:24:07 AM
 #72

I am selling ASICMINER shares, if you want some then PM me!
//DeaDTerra

So, 24 hour volume was 1414.129 btc. I don't remember the quantity that was offered at 0.1 but it was more than 1414 btc worth.  Is that normal for issued shares to trade privately, off the exchange, *after* the IPO?

That is not normal indeed, usually a minority of the shares are traded publically while in this case a majority was traded in private. I have got no idea why Tongue for once I am not actually in charge of this IPO xD
//DeaDTerra
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August 15, 2012, 01:02:22 AM
 #73

That is not normal indeed,

I see what I was overlooking.  I forgot that there are inter-account transfers allowed on GLBSE, so the logistics for doing this are to simply cancel the sell order with the remaining shares and then manually transfer over whatever amount was sold privately:
 
 - http://bitcointalk.org/index.php?topic=75890.0

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August 15, 2012, 01:04:30 AM
 #74

That is not normal indeed,

I see what I was overlooking.  I forgot that there are inter-account transfers allowed on GLBSE, so the logistics for doing this are to simply cancel the sell order with the remaining shares and then manually transfer over whatever amount was sold privately:
 
 - http://bitcointalk.org/index.php?topic=75890.0

Thats the way to do it Smiley

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August 15, 2012, 01:58:40 AM
 #75

Update

Just to mention, since the IPO hasn't finished and bulk purchase at 0.1BTC/share with extra shares offering is still going on, it is not suggested to buy them at a very high price at this moment. Thanks.

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August 15, 2012, 02:03:38 AM
 #76

Correct me if I'm wrong, but profitability outlined in this spreadsheet shows return rates prior to ASICMINER share principle being fully returned.  Post principle repayment these return figures reduce by 50%.
In fact it's after ASICMINER investors' principle are paid back. Since it will almost definitely that the IPO will stop before 200,000 shares, prior return will be higher than 200% of what in the spreadsheet. Smiley

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August 15, 2012, 03:00:57 AM
 #77

Regarding the die size update to 17mm2

My research, which might not be definitive, shows that large die are incompatible with the MLM process.  Can you comment?

Will you be providing investors with documentation of your arrangements with the foundry?

According to our foundry, the rate of mask-set success with large die with MLM is the same with a standard full mask.

Larger die will indeed have less fault-tolerate rate, but 17mm^2 is not classified as the largest type processed by our foundry.

Our foundry is located in Shanghai, China. We have provided the confidential agreement between the agent of the foundry and us to some investors, and we will definitely provide our final contract to investors when it's made. Thanks.

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August 15, 2012, 03:23:46 AM
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Very good clarifications.  Thank you.
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August 15, 2012, 06:38:42 AM
 #79

Update

Just to mention, since the IPO hasn't finished and bulk purchase at 0.1BTC/share with extra shares offering is still going on, it is not suggested to buy them at a very high price at this moment. Thanks.

I'm still seeing 0.12 BTC/share to buy. When are you selling more shares at 0.1BTC?

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August 15, 2012, 06:48:43 AM
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I'm still seeing 0.12 BTC/share to buy. When are you selling more shares at 0.1BTC?

As said in the OP, only 30,000 shares are put on the public market. Although and they are all gone, The bulk sales haven't been closed. Investors could buy from us before then instead of buying them from the public market.

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