ASICMINER: Entering the Future of ASIC Mining by Inventing It

[tinus42]

Also, how does friedcat validate that someone owns shares when they hold an auction here on the forum if he doesn't track usernames of shareholders?

By signing a message from the address in the database.

Sure, that's how it could (and maybe should) be done, but according to TAT's escrow agreement from my last share purchase:

"Friedcat does not normally require signing a message from the Seller's shareholding wallet, but you are welcome to do so when requesting the transfer."

This seems to indicate that he is tracking the usernames of current shareholders and if he receives a PM from that username requesting that a number of shares be transferred to a different bitcoin address, then he complies.

What if a shareholder dies and one of their descendants wants to sell the share or have the e-mail address changed?

Or a shareholder gets banned from Bitcointalk.org and doesn't have access to PM anymore?

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[empoweoqwj]

Be kind, it's just opinions and speculation and my life savings...

What's the first rule about investment / speculation. Never risk more than you can afford to lose ........ oh dear 

All or nothing, baby!

Yep, gambler's statement and gambler's mentality. Problem is winning streaks always come to an end, and if you are always always in, you are guaranteed "bust" down the line.

Its good you've opened another thread though where you can stress about every tick up or down in the share price, because as you've pointed out, you've invested everything you have in it. Good luck anyway.

[velacreations]

Yep, gambler's statement and gambler's mentality. Problem is winning streaks always come to an end, and if you are always always in, you are guaranteed "bust" down the line.

Its good you've opened another thread though where you can stress about every tick up or down in the share price, because as you've pointed out, you've invested everything you have in it. Good luck anyway.

thanks for the advice.  remind me to send you a sense of humor one of these days...

[shawshankinmate37927]

Or a shareholder gets banned from Bitcointalk.org and doesn't have access to PM anymore?

This is where friedcat having a shareholder's e-mail address on file comes in.  It would be an alternative means of informing friedcat that you want to transfer shares.

[mustyoshi]

How many shares does ASICMiner keep for themselves, and how many are for the public?

[shawshankinmate37927]

How many shares does ASICMiner keep for themselves, and how many are for the public?

From the OP:

"Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares."

[tinus42]

How many shares does ASICMiner keep for themselves, and how many are for the public?

From the OP:

"Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares."

A share in ASICMINER is actually a share in Bitfountain.

[mustyoshi]

How many shares does ASICMiner keep for themselves, and how many are for the public?

From the OP:

"Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares."

I wasn't sure if that was current or not.

Thanks.

[helixone]

How many shares does ASICMiner keep for themselves, and how many are for the public?

From the OP:

"Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares."

A share in ASICMINER is actually a share in Bitfountain.

This is absolutely not true. Bitfountain, a private company, is the majority shareholder in ASICMINER.

-helixone

[lophie]

Now my official wishes and hopes for human kind: End of world hunger, World peace and people learn to seach and read for information before they post.

[shawshankinmate37927]

What if a shareholder dies and one of their descendants wants to sell the share or have the e-mail address changed?

I'm thinking it should be the shareholder's responsibility to ensure that the private key to his/her registered bitcoin address is transferred to his/her beneficiary upon death along with instructions on how to get a hold of friedcat so he can update his database once the beneficiary has proven they now control the bitcoin address that the shares are currently registered to.

[tinus42]

How many shares does ASICMiner keep for themselves, and how many are for the public?

From the OP:

"Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares."

A share in ASICMINER is actually a share in Bitfountain.

This is absolutely not true. Bitfountain, a private company, is the majority shareholder in ASICMINER.

-helixone

It says in the first line from the first post of this thread: "ASICMINER is a virtual identity totally held by investors of the Bitfountain company." That implies that you invest in Bitfountain when you buy a share. The word "totally" is key.

[sngwinner]

Yes and at that point bit fountain owned the newly formed ASIC Miner in entirety and sold pieces of it to individuals. It sold shares of AM not bit fountain. See the difference?

[wo0x]

they obviously have enough power to have 99% of network, they just not doing that, because that wouldnt be fair to the rest of bitcoin network,

Do  I miss a main point when I suspect asicminer wants to keep the hashing network stable, what means no single party should be able do have more than 50% of hash rate!?!?

That is ABSOLUTELY no point of fairness but of survival - for Bitcoin and therefor for Asicminer as well.

But it might be the explanation, that so lots of devices are SOLD instead of adding them to the ASICminer pool: They will stabilize the hashrate distribution, so no one else will gain majority.

Best",
  wo0x

[ianp]

7 blocks until retarget.. ~1 hour or so..  I'm really curious to see how ASICMiNER will respond.

[Rival]

There is no need to respond. The only change to their percentage of the global hash will come from those gpu miners who decide to turn off their machines because they are no longer profitable at $100 /btc. I do not anticipate that this number will be very large, as it will be more than made up over time by additional ASIC miners coming into the game.

[tinus42]

What if a shareholder dies and one of their descendants wants to sell the share or have the e-mail address changed?

I'm thinking it should be the shareholder's responsibility to ensure that the private key to his/her registered bitcoin address is transferred to his/her beneficiary upon death along with instructions on how to get a hold of friedcat so he can update his database once the beneficiary has proven they now control the bitcoin address that the shares are currently registered to.

I've laid an intelligence trap for my descendants. If they don't care doing a proper investigation they don't deserve any of my Bitcoins. Instead you lot will inherit my coins when I die.

[ianp]

There is no need to respond. The only change to their percentage of the global hash will come from those gpu miners who decide to turn off their machines because they are no longer profitable at $100 /btc. I do not anticipate that this number will be very large, as it will be more than made up over time by additional ASIC miners coming into the game.

Well, they can't keep up 1.5 blocks per hour without increasing their hashing power.

[davos]

There is no need to respond. The only change to their percentage of the global hash will come from those gpu miners who decide to turn off their machines because they are no longer profitable at $100 /btc. I do not anticipate that this number will be very large, as it will be more than made up over time by additional ASIC miners coming into the game.

Well, they can't keep up 1.5 blocks per hour without increasing their hashing power.

Are you suggesting AM should adjust to a dividend every # of blocks instead of weekly?

[der_meister]

Strange tx