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The forum user yxt is reporting that new shipments of USB miners have been shipped: I imagine that means chips from the 200TH batch are ready and have been used successfully in these miners. I also imagine that the Blades are in the final stages of assembly.
I will be watching this forum closely the next few days...
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Just two question can makes you thinks the same way with me: Did Friedcat deducting any mining revenues because he said he need to pay electricity or rent?
So who pay the rent and electricity? further more , You really think AM is Co??? if it is why should Friedcat not deducting your BTC to pay the electricity and rent?
Again be realistic, Friedcat just want to ensure BTC become succeed by contributing his effort in it ,also by giving out more BTC to the public.
He is a visioner, this what I thought of this guy.
ASICMINER is a part of Bitfountain, which you will find is a legally registered company in Shenzhen. That information is on the first page of this thread. Electricity and rent are probably deducted from the hardware sales revenue. Why on earth would you think rent and electricity would not have to be paid if there AM was not a company?? Don't bother answering - the amount of irrelevant and unsubstantiated misinformation you are cluttering up this thread with is unbelievable, and you are hereby ignored. |
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Western thoughts isn't the same in China. For Friedcat he selling his devices by receiving BTC.. First of all ,Chinese government isn't recognized BTC as a money..Thus logically, they are trading stuffs with stuffs, no law in China indicated people trading stuff with stuff need to registered with the government. Just like you and me , we are friend, you gives me a computer ,as I appreciate what you did ,I give you back a BTC...Do we need to registered our gift transaction to the government  Are you insane It's all about volume. In most countries you cannot legally "receive a gift" of "trade stuffs with stuffs" worth millions USD without paying tax or at least registering your deal properly. Of course , In China is absolutely no tax duty on receiving Gift...I can buy a diamond rings no matter how much it worth and gives to my girlfriend as my girlfriend appreciate to me gives me back no matter what the size of BTC... Volume of the transaction isn't change the basic principle of BTC that isn't recognized as money by the government! Which countries you lived that request people to pay duty when they exchange their gift??? I am highly doubt this government can be existed without riot within those angry people. If Chinese Government stated that they recognized BTC as a money , I think this great....super good news for us...we will see BTC soon hit 10000USD. I'm pretty sure you're wrong about this, SOSLOVE868. In all countries I am familiar with, gifts are liable for tax. Barter is also liable for tax. Therefore, there is no doubt that AM profit would be taxable in many jurisdictions. I'm not familiar with Chinese tax code, but you don't seem to be familiar with tax code in any country, SOSLOVE868. |
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You really think they hold on to the coin they mine? Why? It's money for nothing. Fiat in the bank  while BTC has lost close to 30% in a week. No,t he vast majority of it they give to us, the shareholders. Correction: the vast majority goes to the majority shareholders: Bitfountain. |
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A lot of ASICs starting to trickle in and soon it will be a gush - these will go to individuals who will join the pools. Asicminer will need either a crapload of their current technology come online soon or preferably, the newer technology to stay ahead on the hashrates and keep electricity costs competitive
Assuming they have electricity costs of USD 0.06 per kWh (someone mentioned earlier, I can't find official confirmation), ASICMINER hardware currently remains profitable to run until network hash rate reaches more than 100x today's rate. In other words, there is no need to panic quite yet - current gen hardware can still hold its own, and it is currently better to focus on producing and deploying large quantities quickly rather than slowing the pace in the expectation of a new generation of hardware. |
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So, how much it cost to mine 1 BTC if you are the ASIC chip/equipment manufacturer like AM is?
By my calculations, USD 0.507 in electricity costs per btc mined. The assumptions: Power efficiency: 8.3 J/GH (ref: https://bitcointalk.org/index.php?topic=204030.0) Electricity cost: USD 0.06 per kWh (was mentioned by someone earlier in this thread, cannot find official confirmation) Current hashes to win: 91635939047418116 (ref: http://blockexplorer.com/q/hashestowin) Current Bitcoin reward per block: 25 ( http://blockexplorer.com/q/bcperblock) So it will remain profitable (i.e. value of mined BTC exceeds electricity costs) until network hash rate is more than 100x today's hash rate at current prices. |
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Ignore list in one single post, well done.
I think he is TECHICENINE. Same nonsensical content, and always starting or ending by something retarded ("good morning" and "ira" replaced the "thanks"); also using ".." instead of "...". My theory are that they are both sock puppets of some person who was sick of the inane chatter on this thread, and is trying to get even. |
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Bottom-line is that either people believe in the long term viability of Bitcoin or not. I would like to see some analysis on the cost of production for a single BTC, That would be a price that should have a great support level. That would be a place I would enter the market.
Assuming 7.5 J/GH (that is, an ASIC), USD 0.10 per kWh and current difficulty (and block reward): USD 0.76. |
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This was an epic "I told you so" thread.
But it happens that "I told you so" is the most annoying thing to hear, so I hate you for that. [Although I recognise it is the most satisfying thing to say, so I would have done it too.]
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And how do you get bitcoins once you have your ETF shares?
You don't. This is a product for people who want exposure to something that serves a gold-like (Gold 2.0, IMO) store of value purpose. Yes, it's only "exposure" because people owning these ETF shares will not actually possess the underlying bitcoins. So they'll get the price-action, but be subject to the same counter-party risk that nearly everything in the fiat economy is exposed to. And that's fine. This product puts further options on the table for people. They can get the hard-asset exposure without having to deal with what many consider "sketchy" small operators (bitcoin exchanges), and they can get in and out of the position as easily as buying/selling a stock, which they're already very familiar with. Personally, I'll just hold my own bitcoin and trade it directly (if I ever decide to sell any), but I see this ETF product as a way to increase bitcoin awareness and exposure. If it also increases market-cap, that's a big net benefit too; not just to the net-worth of people holding bitcoin, but to bitcoin's utility as a currency too. Bootstrapping the world's first global electronic currency takes many steps, of which these sorts of "bridge" products are one. Well technically redemption is possible but only in baskets of 50,000 shares (10,000 BTC). It is in the S-1 under the section creation and redemption of shares. To use terminology that seems to have stuck in Bitcoinia: it's a Bitcoin pass-thru for selling on legacy stock/commodities exchanges! |
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Great response - essentially taking some negative attention and turning it into a huge win!
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is it known how much of the mining/hardware sales proceeds is kept for AM's expenses? i can see that the change address in dividend transactions is 16fuoinLFjBmiCYmCYDXPNfERJtdPB5ASe, is that then used to pay for expenses? We do not know the cost basis on ASICMINER hardware. FC has mentioned that production cost is approximately $10k per TH/s. |
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I'm surprised nobody has mentioned mine yet: Dumb & Dumber  |
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In both scenarios AM share price climbs.
Scenario A) USD exchange rate drops: AM is a good hedge against the exchange rate.
Scenario B) USD exchange rate increases: AM share price x USD increase= insane profits. This will spur interest thus more investors increasing share price.
I can certainly buy (B) - increase $$$, everyone feels good, have more money to invest in something bitcoin related. AM is one of the best bets around. Not sure about (A), how does AM hedge against the exchange rate? well, for me, AM has helped me acquire more bitcoins, so even though the value of each bitcoin has dropped, my overall value has increased, because i have a lot more bitcoisn than I used to, thanks to AM. I understand that, we are probably all in that particular boat. But my specific question relates to a sudden change in BTC/USD rate either way. Would AM price go up or down based on that change? AM shares are not a "hedge" against BTCUSD in any sense of the word. An increase in BTCUSD has two contradictory effects on AM shares: (1) it lowers operational costs, (2) it attracts more competition. Which of the effects will dominate share price at any particular time depends on many factors. |
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The cat is out of the bag, there's no coming back... Bitcoin mining is already taken over by few guys, few more will take a piece in next few months and others will fight for mall stuff that is left.
What's most interesting to me is who in his right mind is paying 4 BTC for AM share. What the fuck are they doing to people for them to become so irrational in buying anything Am related at such lunatic prices..
I'm curious to know: what would you consider a fair price and why? |
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Instead of blaming ASICMINER for delivering what they promised, why not blame the "competition" for failing to deliver anything on time? If they did, ASICMINER wouldn't stand out so much. Their only fault is delivering on time.
If BFL delivers the rest of their orders (unlikely but possible) and KNCMiner delivers and Bitfury delivers and Avalon delivers their batch of chips, then the ASICMiner hardware will be obsolete. ASCIMiner will still be able to make a small return on their hardware at wholesale prices. They won't be raking in the cash and we won't have to worry about them owning the blockchain. ASICMiners only advantage is that they can deliver product. Actually, they have one more advantage: lower production costs than all the competitors. Meaning: in a price war, they have considerable ammo. Edit: And also, products that are proven to work on a large scale since they eat their own dogfood. Foxconn and Quanta have phones. You can call them and get low production costs. ASICMiner does not have a monopoly on chinese manufacturing. Their products do work on a large scale, but we don't have any insight yet into MTBF however. Me neither. What is MTBF? Mean Time Between Failures. How reliable are ASICMiner blades when you run them 24/7 for a year? Might be very reliable, might not. True that. I would, however, expect them to identify and fix design issues much faster than some of their competitors which do not mine with their own hardware. |
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Instead of blaming ASICMINER for delivering what they promised, why not blame the "competition" for failing to deliver anything on time? If they did, ASICMINER wouldn't stand out so much. Their only fault is delivering on time.
If BFL delivers the rest of their orders (unlikely but possible) and KNCMiner delivers and Bitfury delivers and Avalon delivers their batch of chips, then the ASICMiner hardware will be obsolete. ASCIMiner will still be able to make a small return on their hardware at wholesale prices. They won't be raking in the cash and we won't have to worry about them owning the blockchain. ASICMiners only advantage is that they can deliver product. Actually, they have one more advantage: lower production costs than all the competitors. Meaning: in a price war, they have considerable ammo. Edit: And also, products that are proven to work on a large scale since they eat their own dogfood. Foxconn and Quanta have phones. You can call them and get low production costs. ASICMiner does not have a monopoly on chinese manufacturing. Their products do work on a large scale, but we don't have any insight yet into MTBF however. Me neither. What is MTBF? |
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Instead of blaming ASICMINER for delivering what they promised, why not blame the "competition" for failing to deliver anything on time? If they did, ASICMINER wouldn't stand out so much. Their only fault is delivering on time.
If BFL delivers the rest of their orders (unlikely but possible) and KNCMiner delivers and Bitfury delivers and Avalon delivers their batch of chips, then the ASICMiner hardware will be obsolete. ASCIMiner will still be able to make a small return on their hardware at wholesale prices. They won't be raking in the cash and we won't have to worry about them owning the blockchain. ASICMiners only advantage is that they can deliver product. Actually, they have one more advantage: lower production costs than all the competitors. Meaning: in a price war, they have considerable ammo. Edit: And also, products that are proven to work on a large scale since they eat their own dogfood. Edit 2: Not to forget their full warchest! Edit 3: And an almost fanatical devotion to th... oh damnit, I'll come in again... |
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A lot of rich people thought Madoff ran a very good company too. He did make a lot of money for his clients before taking it all.
I dunno, I've said my peace. I don't like it. Money is the root of all evils. I've learned to never trust anyone but myself. He could sell more shares again in the future. All I am saying is it is a genius system if you're in it for yourself to keep growing. There really is no stop to it if he wanted. So long as people keep buying the devices.
We now just have to trust he won't be mining with his equipment in the future?
Bill Gates would cause a huge bubble if he got in via gox or some exchange. The best way to do it is mine your way in and not buy any. The manipuFlation comes later.
I've seen this type of expansion before on the S&P500. Commodities that can also be traded on paper. Your governments do this to you all the time. In this case the terms are different but the scam is the same.
People can laugh at me all they want. This just isn't good.
So far there is no evidence that ASICMINER management has done anything unethical. In fact, there is a growing body of evidence that they have acted honestly and with integrity at every opportunity. But you are of course right that they could one day decide not to honor their commitments. Trusting a stranger on the internet is risky business, and there is little legal recourse. They have held their word so far, I expect them to continue to honor their commitments. [By the way, ASICMINER is a company that (1) mines bitcoin and (2) sells bitcoin mining hardware. Of course he mines with his equipment!] |
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