IIRC, it was implied that production costs were in hand from previous sales, hence the aggressive dividends. Lost in translation, or simply a change of plans? Either way it has not been directly addressed. This is nothing new or panic worthy, but an explanation would still be welcome. May the aggression begin in the coming weeks as sales increase and mining ramps up!
AM only had about 5500btc + $1,000,000 in cash. That wouldn't even be enough to cover wafer costs. (maybe for the first batch but definitely not the next) so he just paid all income from batch 1 for producing batch 2, and all income from batch 2 will be used for producing batch 3 etc? Yes, that is how I am guessing it will happen. If we guess batch 2 is 20PH being sold at $0.5/gh that would earn ~$10,000,000 which would be enough to purchase 50PH worth of wafers which could then be sold for $25,000,000. Basically turning $4 million in to $25 million. *Numbers are extremely approximate but I think it shows why reinvestment is a good idea. |
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Seems people are not happy that this months divs went towards next months production costs.
You don't say... What those people don't realize is that even if we did get divs this month, next months divs would be much less. In other news AM has now sold enough hashrate to power about 10% of the bitcoin network and has ~20PH left to sell (before buying more wafers). |
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so he just paid all income from batch 1 for producing batch 2, and all income from batch 2 will be used for producing batch 3 etc? Looks like that's the plan. How else would FC pay for those massive batches? |
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This is to inform that friedcat met with the board today and provided some updates.
General Update
==============
The dividend schedule will be aggressive, as AM will not require large sums of retained capital. The rationale is that AM doesn't need to invest large sums into infrastructure and that the majority of chip production costs will be covered by the business partners on a contract schedule. The new round of dividends are scheduled to begin as soon as the first large purchases have concluded and should precede or coincide with the publication of the updated financial statements.
Specific Updates
================
Submitted Questions:
1) What is the status, size, and expected delivery of the next batch of chips? What about the one after that?
re 1) This month: 850k, next month: 3.35m (order size), June: 6.7m (order size), assuming each chip is 10G.
4) When are the new chips expected to start mining in ASICMiner datacenters and what hashrate are you currently planning on deploying?
re 4) May-June for air cooling and June-July for immersion cooling. They are only capable of 3PH. Most should go franchising or as chips for other vendors' OEM products.
5) When are the sales revenues of the chips expected to be paid out to shareholders?
re 5) When the balance payments are received and exchanged for Bitcoins.
General Disclaimer
==================
Please note that some information is subject to change, as this is a very agile business. Please be careful when speculating on company valuation. This information is purely provided as a service to current shareholders and may not be free of errors.
Wondering if this Aggressive dividend schedule still applies? How many chips have been currently sold? Edit: Man people are selling down to nothing. My number of shares might increase by another digit soon. $3,600,000 chip sales at $0.5/gh (guessing) equals about 720k chips sold. $5,700,000 spent on wafers is about 3m chips(28.5ph @ $0.2/gh). Seems people are not happy that this months divs went towards next months production costs. |
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"subject to change" means he is not going to guarantee what his magic crystal ball told him.
If you are not comfortable taking risks you should not be an investor.
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I will soon transfer to cloud mining after knccloud enable.
you're gonna send these assholes even more money?  www.bitguy.comstart hashing today ^ Obviously I miss something, but: how can you ever get a positive ROI with these mining contracts? You don't... ROI is for the people selling the contracts. |
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For sure it will hold @ least 4 chips
up to 8
I'm guessing the power cable will be moved? Also got an ETA on when these will begin production? I know many of us with BA orders would love it if we had another option other than waiting for BA to build our miners.. Side note: Density looks pretty good for immersion cooling especially if you can fit all 8 chips on that tiny board. |
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minion tests   Got the results yet? Also is that just a test board or is it expected to actually hold 8 minions? |
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This article is a year late.
And as we know gpus are still used to mine alt coins. (Some still mine scrypt)
As soon as an asic is created for an algorithm, a new one is created so gpus can mine again. Idea being that gpu mining is more decentralized.
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SP10s are now 6TH at 2800W! Brand new batch is now up!
Sneaky affiliate link, it's bad form to try to hide it with link shorteners. +1. If anyone else wants to sell their soul by spamming affiliate links that's fine. But to be a respected and supposedly non-biased hardware reviewer and do it brings your motives in to question. |
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ok so reference is not promise (bfl style)
AM doesn't do preorders. immersion cooling 2ph? april? no. not yet. few days to july now.
May-June for air cooling and June-July for immersion cooling. Even if you are a month ahead of the rest of us, they still aren't late on deploying gen3 in the immersion cooled DC. website
pr person,
p2p bitcoin stock exchange,
More minor things that don't affect the business/dividends green island,
Never heard of it. chip distribution to community (marto, bichelski etc)
bick got chips and I'd bet marto did too. |
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mass gen3 chip sales in march
Declaration: Before physical chips are out and fully tested, all specs/dates/data are for reference only and subject to change
immersion cooling income/sells
Immersion cooling has been earning btc since it was set up in October(?) frequent updates
True. regular dividends
How does one give out dividends without earnings? and more
Please do share. |
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no, why?
there is a lot of honest and respectable ipo launchers,
for example crypt-x
You surely don't mean cryptx the operators of petamine and scryptx right? I would love to know of any bitcoin IPO that returned 500% or even 200% in dividends. |
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i think you dont know who is TF (tradefortress), do you see analogy?
I think you're on to something. Tradefortress: Starts multiple businesses with no sources of revenue including an online wallet which was conveniently hacked losing ALL of its money. Completely anonymous and businesses only involve shifting money around. Friedcat: Has developed, produced, and sold hardware earning the company and its investors over 500% in dividends. Completed 3rd gen asics and is now working on 4th gen. Pseudonymous meaning people know who he is, it's just not publicly broadcasted. Definitely a great analogy. Tradefortress: has collected a lot of btc for his activities, was regullary paying dividends and income share to build his reputation until he decided that he has earned enough and then he stopped paying and posting. Friedcat: has collected a lot of btc for his activities, was regullary paying dividends and income share to build his reputation until he decided that he has earned enough and then he stopped paying and posting. So anyone who has an IPO = tradefortress? TF didn't give out much dividends considering he ran a ponzi and none of his "businesses" had any sources of revenue. Compare that to FC who gave back 500% in dividends of actual profit from an actual business. You're not a very good fudster. |
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Can we stop with all the "I have X amount of money, what do I do with it?" threads?
Short answer:
Do your own research like anyone else ready to spend more than a weeks paycheck on something.
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where are dividends?
where is financial report?
where is mining income?
why you have not responded marto about chips?
why immersion cooling facility is not working?
why you are ignoring investors?
please respond, friedcat
thanks.
great next round of questions. friendlypumpkin, are you ready? FC loves short answers, like "May 27th.", so he'll get short but very important questions. add : where are money from chips sales? and for everyone who is saying me : "go away, if you dont trust our God, sell your shares." I cant, i am stuck here. There is simply no liquidity on Havelock, if you don't want to see prices under 0.1 btc in the blink of an eye. So you have so much shares you cause a major crash(assuming more than 500 since goat just sold that much without putting a dent in the market) yet you create as much FUD/useless posts/rhetorical questions as possible? I'd guess you're just a pump and dumper based on your ability to switch back and forth from bull to bear mode with the flip of a switch. |
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I think he does not care, i have seen this attitude before. Godlike walking among us mortals.
Please, the only people that invested were the original investors. FC made them multi millionaires. All those that invested subsequently did so for the dividends. They added no new capital to FC or his business. You would do the same, if you were FC. Actually it is the "subsequent investors" are the ones who made Friedcat rich. He liquidated shares when the price hit 4 btc/share  Some people don't seem to understand the relevance of the secondary market. Source? IIRC he specifically said he didn't sell during the bubble. It was last year at the peak, I remember seeing a post in the securities subforum here, I think it was Bitfountain that liquidated some shares at 4. If someone is in the mood to dig around the posts in the forums, you guys are my guest. Found this quote: https://bitcointa.lk/threads/asicminer-entering-the-future-of-asic-mining-by-inventing-it.61268/page-140#post-1597354So although it's likely bitfountain did unload shares at 4btc/share, FC did not get rich because of it. |
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I wonder how many weeks or months without dividends will pass after you or any other cheerleader will change his attitude from : ASICminer? everything is ok, pink glasses. In past we saw that Bitcoinland is no Candyland, scams are everywhere, greed is everywhere. And we must take care with eyes open.
I wonder how many months of dividends FC will need to give out before "investors" stop bitching and creating FUD. We are 1 day passed a date which was subject to change and this somehow translates to weeks/months without dividends? Can we be rational please? Even Jutarul is without the words or explanation what is going on again? You make it sound like jutarul always holds your hand when FC misses a deadline. where are dividends?
where is financial report?
where is mining income?
why you have not responded marto about chips?
why immersion cooling facility is not working?
why you are ignoring investors?
please respond, friedcat
thanks.
Thanks for your thoughtful post. A bunch of rhetorical questions is exactly what we need to get FC to post the financial report/give out dividends. |
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I think he does not care, i have seen this attitude before. Godlike walking among us mortals.
Please, the only people that invested were the original investors. FC made them multi millionaires. All those that invested subsequently did so for the dividends. They added no new capital to FC or his business. You would do the same, if you were FC. Actually it is the "subsequent investors" are the ones who made Friedcat rich. He liquidated shares when the price hit 4 btc/share Some people don't seem to understand the relevance of the secondary market. Source? IIRC he specifically said he didn't sell during the bubble. |
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just call the police in berkshire. let them deal with it. do it ASAP.
I think the correct people to call in this situation would be the wambulance. |
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