Quote from: bitfair on July 01, 2013, 02:57:26 AM

Quote from: Paladin69 on July 01, 2013, 02:53:44 AM

Quote from: bitfair on July 01, 2013, 02:46:56 AM

Quote from: Paladin69 on July 01, 2013, 02:42:17 AM

Not people buying shares so one guy can mine more. Christ. Central bank shit right there.

I'm not quite sure what you mean by that: 400k shares were issued approximately one year ago when the company first started. Approximately 160k were sold at 0.1 BTC each to raise funds for the fabrication of the first chips, and the remaining shares belong to the founders. No more shares have been issued, so there has been no dilution in the equity.

Care to explain more closely what you mean by that statement, I'm not sure I understand entirely what you are implying?

The scarcity of btc is being replaced by a system of shares. The dilution will come by an ever expanding hardware investment of re-issuance.

You wouldn't trust GLD or SLV paper metals but you'll help grow this operation. This just isn't a good idea. I've seen this before. It's being replicated in the digital sense. Well, paper stocks are digital but you hopefully get my point.

At least one of us is confused. Both of us is probably imagining that it is the other. I am ready to admit I do not understand what you mean by that.

Digital Chinese Bernie Madoff. Scarcity and your soul is being replaced for digital fiat promises. Investors in the beginning may make some coin. He could probably pull what you claim is shares you own. He is selling out everyone who is too lazy to mine with their own hardware for his own benefit. I'll laugh if he attempts a reverse stock split.

Long story short, you are helping someone to consistently, eventually, own 50% of the network at all times so long as they replace their own hardware and what they sell to others with current ASIC tech. With that kind of ching and cheap chinese manufacturing connections, I see no reason why he can't keep up with developing ever smaller ASIC chip sizes.

Would you like it if Bernanke owned 50% of the network at all times? I don't know how I can describe it in any other way.

Someone with that much coin in the end can create their own bubbles to their own benefit and really fuck with the btc economy.