ASICMINER: Entering the Future of ASIC Mining by Inventing It

[BlackLilac Jordan]

Share price broke down the 1.30 wall.

http://youtu.be/UtKADQnjQmc

.b

More importantly, 8,700 GH/s and counting on BTCGuild.

[velacreations]

Share price broke down the 1.30 wall.

http://youtu.be/UtKADQnjQmc

.b

we still have a big 1.20 wall on bitfunder.

[furuknap]

we still have a big 1.20 wall on bitfunder.

Well, there's your problem... :-P

.b

[velacreations]

we still have a big 1.20 wall on bitfunder.

Well, there's your problem... :-P

.b

so, if you want cheap AM shares, come to bitfunder...

[SebastianJu]

we still have a big 1.20 wall on bitfunder.

Well, there's your problem... :-P

.b

bad for one, good for others.... Though i dont think it will stop there till next dividend payment...

[TheSwede75]

Holy crap! They are rolling out blades like nobody's business. Current hash rate on BTC Guild: 8,788.24 GH/s

[JimiQ84]

Holy crap! They are rolling out blades like nobody's business. Current hash rate on BTC Guild: 8,788.24 GH/s

I can't imagine what trouble it is to manage 900+ blades with 73kW power consumption. And that's only beginning

[louong]

we still have a big 1.20 wall on bitfunder.

Well, there's your problem... :-P

.b

so, if you want cheap AM shares, come to bitfunder...

Yeah, looks like BitFunder has a greater % of people who got in early on ASICMINER and want to cash out some. Also no fees to buy on BitFunder vs. btct.

[TheSwede75]

we still have a big 1.20 wall on bitfunder.

Well, there's your problem... :-P

.b

so, if you want cheap AM shares, come to bitfunder...

Yeah, looks like BitFunder has a greater % of people who got in early on ASICMINER and want to cash out some. Also no fees to buy on BitFunder vs. btct.

Prob a lot to do with the high threshold of investing on bitfunder vs. btctc. A lot of new people flooding to snag a few ASICMINER-PT right now as hash rate booms and auctions happen every week I myself am in it for the long haul due to the kickass dividend.

[gog1]

I dunno why there's a couple of sell walls on bitfunder.  Those owner could have (> 250 shares) transfer their shares to btct, where the fees are lower (if you are selling) and better prices.

[velacreations]

I dunno why there's a couple of sell walls on bitfunder.  Those owner could have (> 250 shares) transfer their shares to btct, where the fees are lower (if you are selling) and better prices.

yeah, I was wondering about that, too.  I guess it might take a while to transfer like that, but they could probably sell for 10% more.

[louong]

Prob a lot to do with the high threshold of investing on bitfunder vs. btctc. A lot of new people flooding to snag a few ASICMINER-PT right now as hash rate booms and auctions happen every week I myself am in it for the long haul due to the kickass dividend.

Higher threshold if someone is a buy and flipper, but lower if they are a buy and holder and reinvest dividends as there is no fee now or any planned for the future for dividends on BitFunder. And as mentioned, once you clear the threshold of 250 shares you can just transfer them to non-passthrough shares (to auction) or over to btct.co (0.2% sale fee + bitcoind transaction fee).

EDIT: Did the math.
For BitFunder, it's a 0% buy fee, 1% to 0.5% sale fee (depending on trade volume), no withdrawal fee.
For btct.co, it's a 0.2% buy fee (with 2FA), 0.2% sale fee (with 2FA), bitcoind withdrawal fee (can be up to 0.0025 BTC) and eventual dividend fee (0.5% to 3%).
So for a buy and sell on BitFunder it's essentially averages out to 0.25% to 0.5% per buy and sell. On btct.co, it's to 0.4% per buy and sell. Almost a wash. But add the withdrawal fee and eventual dividend fee on btct.co or if you have higher trading volume then BitFunder comes out ahead.

[furuknap]

For btct.co, it's a 0.2% buy fee (with 2FA), 0.2% sale fee (with 2FA), bitcoind withdrawal fee (can be up to 0.0025 BTC) and eventual dividend fee (0.5% to 3%).

The dividend fee is scheduled to be removed completely, according to burnside, and would in any case apply to the whole market, not individual owners. In other words, the 10,000 fee of 0.5% would have been for the entire market, not just individual holder of more than 10,000 shares.

.b

[louong]

The dividend fee is scheduled to be removed completely, according to burnside, and would in any case apply to the whole market, not individual owners. In other words, the 10,000 fee of 0.5% would have been for the entire market, not just individual holder of more than 10,000 shares.

.b

If that is the case then it makes things slightly more equal (outside of the btct.co withdrawal fee and discount to 0.5% sale on BitFunder based on trading volume). But I guess let's let the market decide.

[furuknap]

If that is the case then it makes things slightly more equal (outside of the btct.co withdrawal fee and discount to 0.5% sale on BitFunder based on trading volume). But I guess let's the market decide.

I still don't get how you come up with 0,25% to 0,5% with BF. There's a 0,5%-1% fee on sales, so a flip will include that no matter if the buy is 0%. They say in the FAQ that if you are a day trader, you can get the fees down as low as 0.25%, but for most small to medium investors, that's not going to be an option.

Do a ฿100 buy and sell, regardless of time span, and you'll be out between ฿0.5 and ฿1 on Bitfunder, but always ฿0.4 on BTCT. I can't see how that's even; BF is at best 25% more expensive and at worst 150% more expensive.

.b

[louong]

I still don't get how you come up with 0,25% to 0,5% with BF. There's a 0,5%-1% fee on sales, so a flip will include that no matter if the buy is 0%. They say in the FAQ that if you are a day trader, you can get the fees down as low as 0.25%, but for most small to medium investors, that's not going to be an option.

Do a ฿100 buy and sell, regardless of time span, and you'll be out between ฿0.5 and ฿1 on Bitfunder, but always ฿0.4 on BTCT. I can't see how that's even; BF is at best 25% more expensive and at worst 150% more expensive.

0% fee on buy and 0.5% to 1% fee on sell = average fee on a transaction (buy or sell) is (0.5% - 1%) / 2 = 0.25% to 0.5%

My point was that with the dividend fee and withdrawal fee, it might be a wash to better if you qualify for the discount. The tiering is based on the last 60 days so one doesn't necessarily need to be a day trader, just buy/sell a combined 50+ BTC in 60 days to start earning discounts.

And also you can avoid the sell fee by accumulating more than 250 shares and transferring out to non-passthrough shares as mentioned by someone else. A strategy is to buy cheap PT shares and accumulate/dividend invest, and supplement with non-PT shares purchased through auctions and transfer those to PT shares.

If the dividend fee is going away then for a buy and flipper btct.co is better. But for a longer-term buy and holder, BitFunder can be better because you can avoid fees altogether (sale or withdrawal fees).

Plus I will believe that the dividend fee is going away on btct when I actually see it written down in the details or there is a motion passed.

[furuknap]

I still don't get how you come up with 0,25% to 0,5% with BF. There's a 0,5%-1% fee on sales, so a flip will include that no matter if the buy is 0%. They say in the FAQ that if you are a day trader, you can get the fees down as low as 0.25%, but for most small to medium investors, that's not going to be an option.

Do a ฿100 buy and sell, regardless of time span, and you'll be out between ฿0.5 and ฿1 on Bitfunder, but always ฿0.4 on BTCT. I can't see how that's even; BF is at best 25% more expensive and at worst 150% more expensive.

0% fee on buy and 0.5% to 1% fee on sell = average fee on a transaction (buy or sell) is (0.5% - 1%) / 2 = 0.25% to 0.5%

In that case, you really need to compare to the average fee on BTCT too, which is 0.2%.

My point was that with the dividend fee and withdrawal fee, it might be a wash to better if you qualify for the discount. The tiering is based on the last 60 days so one doesn't necessarily need to be a day trader, just buy/sell a combined 50+ BTC in 60 days to start earning discounts.

And also you can avoid the sell fee by accumulating more than 250 shares and transferring out to non-passthrough shares as mentioned by someone else. A strategy is to buy cheap PT shares and accumulate/dividend invest, and supplement with non-PT shares purchased through auctions and transfer those to PT shares.

If the dividend fee is going away then for a buy and flipper btct.co is better. But for a longer-term buy and holder, BitFunder can be better because you can avoid fees altogether (sale or withdrawal fees).

Plus I will believe that the dividend fee is going away on btct when I actually see it written down in the details or there is a motion passed.

I'm sure burnside will get around to the motion soon, I just spoke with him about it yesterday :-)

.b

[louong]

In that case, you really need to compare to the average fee on BTCT too, which is 0.2%.

Looks like I made an error on the original calculation - 0.2% instead of 0.4% so good catch. Regardless, I'm of the buy and hold mindset right now and any way to avoid fees I'm all for. Now if either BitFunder or btct can implement a true DRIP with fractional share repurchases (obviously with friedcat's blessing) then I will be won over 100%.

[furuknap]

In that case, you really need to compare to the average fee on BTCT too, which is 0.2%.

Looks like I made an error on the original calculation - 0.2% instead of 0.4% so good catch. Regardless, I'm of the buy and hold mindset right now and any way to avoid fees I'm all for. Now if either BitFunder or btct can implement a true DRIP with fractional share repurchases (obviously with friedcat's blessing) then I will be won over 100%.

Well, whaddayaknow, I actually spoke to him about that today too, after soliciting feedback from this forum about a 100-split PT that would make DRIP far more possible.

.b

[louong]

Well, whaddayaknow, I actually spoke to him about that today too, after soliciting feedback from this forum about a 100-split PT that would make DRIP far more possible.

.b

Sounds interesting, but would the 100-split PT be non-voting shares? I would be certainly for more liquidity and options for people who find the non-split price hefty. But still want that true fractional share DRIP. If this can be done with many blue chip companies, why not in the BTC world? (challenge thrown out)