ning



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Full MemberActivity: 173Merit: 100 Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It February 13, 2014, 04:01:40 PM #17073 Quote from: willBTC on February 13, 2014, 02:56:20 PM I have a question : the third-generation chip's payment considering USD and Bitcoins. What if Friedcat would receive huge of USDs, then How Friedcat pay shareholders Bitcoins ? To buy huge Bitcoins in the market will certainly be hard .



As a mining related company, buying Bitcoins from the market in order to pay out the dividends doesn't sound very plausible. However, I think in the case of receiving predominantly US dollars, the less hassle way for AM to do is to just keep the dollars for future use. As for long time investors, this might not be much of a problem (subjective opinion). Also, please note that, using Bitcoin as payment method has the advantage of being instant (relative to international wire transfers), and this advantage can be critical since chip buyers would normally expect their new ASICs to be shipped fast. Together with franchising, which generates Bitcoin revenue, we should be good. As a mining related company, buying Bitcoins from the market in order to pay out the dividends doesn't sound very plausible. However, I think in the case of receiving predominantly US dollars, the less hassle way for AM to do is to just keep the dollars for future use. As for long time investors, this might not be much of a problem (subjective opinion). Also, please note that, using Bitcoin as payment method has the advantage of being instant (relative to international wire transfers), and this advantage can be critical since chip buyers would normally expect their new ASICs to be shipped fast. Together with franchising, which generates Bitcoin revenue, we should be good.

canth



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LegendaryActivity: 1442Merit: 1000 Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It February 13, 2014, 04:11:34 PM #17074 Quote from: aahzmundus on February 13, 2014, 02:46:01 AM Looks like all divs are confirmed at least 45 times, I was not expecting things to go this well all things considered.



Good news coming out of AM, Divs were a little higher this week, divs confirmed with little issue, overall news for bitcoin in general is positive. I see the share price going up quite a bit the next few months.



AFAIK, there have not been any reports of problems sending BTC transactions with confirmed coins. Someone please point out if I've missed problems in that scenario. The only potential issue would be if friedcat were using a bitcoin client (like QT) which allowed him to send unconfirmed coins sent to the change address and he didn't wait for the change transactions to be confirmed.



Or am I missing something about the malleable tx 'flaw'? AFAIK, there have not been any reports of problems sending BTC transactions with confirmed coins. Someone please point out if I've missed problems in that scenario. The only potential issue would be if friedcat were using a bitcoin client (like QT) which allowed him to send unconfirmed coins sent to the change address and he didn't wait for the change transactions to be confirmed.Or am I missing something about the malleable tx 'flaw'? Reputation thread: https://bitcointalk.org/index.php?topic=404667.0

buck19



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NewbieActivity: 23Merit: 0 Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It February 13, 2014, 06:26:36 PM #17076 Quote from: ning on February 13, 2014, 04:01:40 PM Quote from: willBTC on February 13, 2014, 02:56:20 PM I have a question : the third-generation chip's payment considering USD and Bitcoins. What if Friedcat would receive huge of USDs, then How Friedcat pay shareholders Bitcoins ? To buy huge Bitcoins in the market will certainly be hard .



As a mining related company, buying Bitcoins from the market in order to pay out the dividends doesn't sound very plausible. However, I think in the case of receiving predominantly US dollars, the less hassle way for AM to do is to just keep the dollars for future use. As for long time investors, this might not be much of a problem (subjective opinion). Also, please note that, using Bitcoin as payment method has the advantage of being instant (relative to international wire transfers), and this advantage can be critical since chip buyers would normally expect their new ASICs to be shipped fast. Together with franchising, which generates Bitcoin revenue, we should be good.

As a mining related company, buying Bitcoins from the market in order to pay out the dividends doesn't sound very plausible. However, I think in the case of receiving predominantly US dollars, the less hassle way for AM to do is to just keep the dollars for future use. As for long time investors, this might not be much of a problem (subjective opinion). Also, please note that, using Bitcoin as payment method has the advantage of being instant (relative to international wire transfers), and this advantage can be critical since chip buyers would normally expect their new ASICs to be shipped fast. Together with franchising, which generates Bitcoin revenue, we should be good.



From what I've been reading, AM would name a price for gen 3 chips in USD but accept payment in the equivalent amount of BTC. So, as the BTCUSD rate goes up, the hardware becomes cheaper in BTC.



In order to maximize BTC dividends, hope for the current low exchange rate (Bitstamp is at $630) to continue... I really don't see ASICMiner accepting dollars in payment. Cash, check, credit card? LOL.From what I've been reading, AM would name a price for gen 3 chips in USD but accept payment in the equivalent amount of BTC. So, as the BTCUSD rate goes up, the hardware becomes cheaper in BTC.In order to maximize BTC dividends, hope for the current low exchange rate (Bitstamp is at $630) to continue...

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Hero MemberActivity: 686Merit: 500A pumpkin mines 27 hours a night Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It February 13, 2014, 07:09:10 PM #17077 Quote from: buck19 on February 13, 2014, 06:26:36 PM Quote from: ning on February 13, 2014, 04:01:40 PM Quote from: willBTC on February 13, 2014, 02:56:20 PM I have a question : the third-generation chip's payment considering USD and Bitcoins. What if Friedcat would receive huge of USDs, then How Friedcat pay shareholders Bitcoins ? To buy huge Bitcoins in the market will certainly be hard .



As a mining related company, buying Bitcoins from the market in order to pay out the dividends doesn't sound very plausible. However, I think in the case of receiving predominantly US dollars, the less hassle way for AM to do is to just keep the dollars for future use. As for long time investors, this might not be much of a problem (subjective opinion). Also, please note that, using Bitcoin as payment method has the advantage of being instant (relative to international wire transfers), and this advantage can be critical since chip buyers would normally expect their new ASICs to be shipped fast. Together with franchising, which generates Bitcoin revenue, we should be good.

As a mining related company, buying Bitcoins from the market in order to pay out the dividends doesn't sound very plausible. However, I think in the case of receiving predominantly US dollars, the less hassle way for AM to do is to just keep the dollars for future use. As for long time investors, this might not be much of a problem (subjective opinion). Also, please note that, using Bitcoin as payment method has the advantage of being instant (relative to international wire transfers), and this advantage can be critical since chip buyers would normally expect their new ASICs to be shipped fast. Together with franchising, which generates Bitcoin revenue, we should be good.



From what I've been reading, AM would name a price for gen 3 chips in USD but accept payment in the equivalent amount of BTC. So, as the BTCUSD rate goes up, the hardware becomes cheaper in BTC.



In order to maximize BTC dividends, hope for the current low exchange rate (Bitstamp is at $630) to continue...

I really don't see ASICMiner accepting dollars in payment. Cash, check, credit card? LOL.From what I've been reading, AM would name a price for gen 3 chips in USD but accept payment in the equivalent amount of BTC. So, as the BTCUSD rate goes up, the hardware becomes cheaper in BTC.In order to maximize BTC dividends, hope for the current low exchange rate (Bitstamp is at $630) to continue...

These problems have been addressed by friedcat in his latest statement: These problems have been addressed by friedcat in his latest statement: https://bitcointalk.org/index.php?topic=99497.msg5025133#msg5025133 I should have gotten into Bitcoin back in 1992...