Quote from: Puppet on August 19, 2014, 11:22:13 AM

Quote from: webbrowser on August 19, 2014, 09:42:28 AM

This situation was already foreseen in the prospectus - see the section under dissolution.

However, it's pretty doubtful that there will be any value left in the assets at that point in time.

You assume that point is still far away; it could be upon us in october. And the sooner it happens, the better, ironically.

Ive been away for a while, but AFAICS, new mining hardware is still selling for ~$800/TH. Used hardware isnt going to fetch the same price, especially not when its cryptx selling as he utterly blew his reputation on that. And in two months, prices will have come down further, but lets optimistically guestimate cryptx could still fetch $300/TH. Thats ~0.6BTC at todays low exchange rate. Or 0.00062BTC per unit. Hardly trivial considering the current market price which isnt even twice that.

Of course, two months from here, its entirely possible BTC value will have doubled, which would reduce the miner's BTC denominated value almost proportionally, and prolong the current flow of money towards cryptx fees while market prices per TH continue to tumble. Moreover I suspect cryptx will lower his fees once mining revenue is almost equal to minng fees, as its far more economical for him to continue mining (read: collect fees) than sell the hardware and having to hand out the proceeds.

Exactly. I assume that cryptx will lower his fees, which is bound to be much higher than his costs. Dissolution and distributing the proceeds to shareholders does not benefit him since he doesn't hold any shares. Whereas continuing mining means he continues to collect fees until the mining revenue reaches marginal costs. So I doubt that there will be any value left in 1.1PH of obsolete assets at that point in time.