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Ukyo, any developments on this? Why not just post the logs? If he did scam, we let the Admins know to start the scammer process on this. Many are deciding where to send our AM shares so there are several folks watching this thread.
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John's doing just fine, he's been incredibly busy with much RL stuff lately. He'd log on if possible, but he's got a lot of things to take care of right now. I've been communicating with him so I'll be sure to let him know that his presence is missed.
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Things are pretty ugly for me right now.
I don't think I can comment beyond that.
I can't make any guarantees, but at this time I have no reason to believe the shutdown will be interrupted.
I personally have relatively little to compensate them with. (as mentioned in the last financial report, I have been funneling personal funds back to the company for legal fees) As Deprived (I think it was Deprived?) pointed out earlier, the vast majority were sold in 2012 at prices far, far lower than what they have traded for since then. The valuations of LTC-GLOBAL were very high and that really was out of my control. I was trying to do a good job as the operator and the price seemed to reflect that, but I wasn't cashing in on it, so to speak. I believed that there were better days ahead and now am seeing all my value (a year of sleepless nights, blood, sweat, & tears) wiped out as well.
Perhaps this is not the place but is there anything the community can assist with? You've done a lot for the community and I'm sure there will be folks that would be willing to help. |
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Custom Cooling Systems
We have been finalizing on our HK datacenter with our professional partner on immersion cooling. This product will be of interest both miners, and other industries that require cooling of similar hardware. Our cooling system partner built it as an exhibition house where everything is clean and shiny for investors/buyers to visit and for ASICMINER to make videos as a demonstration.
This is the most interesting part of the news. Their first datacenter is in Shenzen, curious about the capacity of this second data center. The immersion cooling news means they are expanding beyond just Bitcoin mining and hardware sales. |
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OFFICIAL ASICMINER UPDATE
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
PR & Communications
1. The board has committed to meeting even more often than we have been, and intentionally gleaning whatever info can be shared from each meeting, and posting it to public.
2. The board will be assisting with writing these posts to make things easier for Friedcat.
3. The board is in discussions to create content and designs for an official website.
BTCT closing
Today, we discussed this topic and Friedcat will be reaching out to Burnside to determine the best way to handle all of his PT shareholders. Burnside might just give Friedcat a database to process, and TAT Investments has offered to handle a full migration to the AM1 asset on HavelockInvestments.com if it is feasible and agreeable.
LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.
Hardware Update
• Already shipped devices(Gen1, already shipped) were limited by quantity of the power chip supply we pre-ordered before two months.
• We made an order of another brand of power chips which are about two weeks late. In October this will provide another 500TH/s (Gen1).
• If any deal of ordering Gen1 chips from outside buyers via us is reached, additional orders will be made.
• The size of the Gen2 order will be decided as appropriate, according to the network difficulty when it is time to finalize the order size.
Franchising
The board is working to polish the franchising program and is currently discussing the idea of hosting auctions to determine the best pay-per-share rates for ASICMINER, and what profitability the franchises require to operate. ASICMINER intends to grow the franshising program at a faster pace in October, so please participate in this process if you are capable of hosting blades and looking to mitigate some of your risks in buying hardware.
In order to make accurate bids, franchisees need 3 things:
1) Some of the blades as a sample, so they can plan and see what they are doing.
2) Reliable estimates and timelines for delivery, as this can severely impact the ability to operate efficiently.
3) Clear terms or a formula to know when their PPS value can be adjusted as the difficulty increases.
Custom Cooling Systems
We have been finalizing on our HK datacenter with our professional partner on immersion cooling. This product will be of interest both miners, and other industries that require cooling of similar hardware. Our cooling system partner built it as an exhibition house where everything is clean and shiny for investors/buyers to visit and for ASICMINER to make videos as a demonstration.
Sales/Advertising Update
ASICMINER is pursuing for additional sales & advertising opportunies. A Google Ads campaign will be considered, as well as Reddit and other websites. Forum ads are getting expensive now, and ROI is unclear for them.
Link |
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I see - so being "rough" precludes an estimate from coming about via math and logic?
My estimates are not so inaccurate as for me to be uncertain about 2 BTC/share being overvalued.
No, my point was that the initial data is an estimate in itself. After the initial 3 auctions, no one (apart of Bitfountain & board members) know total sales and how much was passed on as the weekly dividend portion. Additionally, no financial numbers regarding R&D, hardware manufacturing costs, current farm maintenance costs, and future data center(s) acquisitions have been announced. Without know what remaining funds are devoted to what, theoretical extrapolation can go only go so far. As for CoinTerra's thread - yes, clearly the marketing intern is proof that the world-class professionals working on the chips have turned scammer. Apparently these days all it takes to get $1.5M in private VC funding is a plan to scam some nerds.
Considering that CoinTerra doesn't HAVE the chips back from GloFo yet - nor have they claimed to - what would you expect those pictures to be of?
I honestly wouldn't expected any pictures until they've received their chips. Perhaps it's just my view on things but until they have chips to share/prove to the rest of the community, the jury's still out on if they can manufacture the product. For instance, I have no problem admitting that Bitfury currently has the edge on everyone right now. I'm sure you'll have a counterpoint to this post so I'm going to settle that we'll agree to disagree. |
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He never published it. It's an estimate based on FC's old balance sheet, where he had listed the total cost of making all the hardware. Then I figured about how many TH he'd produced based on his total sale profits divided by price/TH, plus the known farm size (~50 TH).
The USB sticks were a complicating factor. Obviously it is a rough estimate but it is better than nothing.
If that is true, ASICMiner is probably worth less than 0.5 BTC/share. They'd be better off buying Cointerra hardware than making their own, considering Gen 2 is at the 55nm node and probably won't be more than 4x faster per chip.
It's not fear, uncertainty, OR doubt. It's math and logic.
Obviously you are new to investing.
You cannot say it's a rough estimate than claim it to be "math" and "logic" later. Until you have all the financial sheets backing up your math, it remains as "a rough estimate". I would suggest taking a look at CoinTerra's thread before saying they're "better off buying CoinTerra's hardware." |
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So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.
This mine will NOT grow beyond 200TH, these are essentially PMBs. If you bought at IPO, you'll get your ROI but if you're buying now, you're only giving your money away. IPO investors basically paid for R&D of Bitfury's "shovel"; in turn, they get a discounted "shovel" at a later date. |
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I have to say though, I am amazed by the level of trust I've seen in this community. The market cap of this stock is good example.
A lot of AM investors have already received their money back in dividends. Anyone that bought in late Feb - early March has gotten their ROI, AM has paid out a total of about 0.54/share. |
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My favorite meme for this yet is what the NSA is thinking.
"Access to the new largest fingerprint to name database without even trying"
Yea, this exactly. Apple can promise all they want but it doesn't stop them. Although they already have the fingerprints of any U.S. citizen on file (various legal documents). |
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Because i don't have the time to research them. So i diversify as much as possible. Can you give me a link to the MININGCO.ETF thread please?
 You may not want to invest at all then. You're only asking for trouble. |
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Starting speculation on the divs ....
I've been paying close attention to the group buy threads here (AM related) as well as the mining/div address. Here's an interesting fact... There's atleast 1600 BTC worth of sales here... even more if we count the other group buys, but here's how I reached that:
- Follow CannaryInTheMine's coupon thread, his payment address is 15HJTCu5d87FMdczKJ2fLXHj4t3LcT77hn
- He is forward these to FC to address 1ZGtnxLWYVDbUVXPQLTRqnF6Bv6u2BMf8 (other payments from GB's also ended here, hence that conclusion). This address currently has 1,670 BTC
- 1LNKmBRvC3Tmk56gPV6etmxqSzpP1La2Bf and 1Lo6q72PBDrxm7cDKrxze3hmF3p2gkbeJe are two other addresses belonging to FC/ASICMINER where the GB payments were followed to... EACH having 315 BTC
~3700 BTC counted so far. There is definitely going to be some percentage reserved for development and other costs... but that along with the ~2400 BTC from mining, we should have a pretty good dividend this week.
Thanks for the math. (3700+2400)/400000 would land us at 0.01525 for a pretty solid week. I'm speculating 0.018 because it's usually easier to underestimate revenue than overestimate. Of course FC may retain an indefinite amount, so the whole thing is a crapshoot really. I hope not, anything over 0.015 is excessive right now. I would take 0.01/share for the next several weeks if it means ensuring 2nd generation chips are ready for October/November. I'm certain the total network hash rate will be ~2 PH/s before 2013 closes. |
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So who's paying attention to this? Are you getting one?
I'm going to futilely ask that people don't spam "APPLE SUX" or "ANDROID FTW". Just requesting some polite discussion.
Features worth talking about (updating):
- 64-bit A7 processor
- "M7" co-processor (may be removed, not sure if just marketing talk)
- 720p video recording at 120 FPS
- Fingerprint sensor
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Still not get reply from friedcat. @tkone can you send me copy for the mail asking friedcat to revise the share to me.?
Did you use escrow? It would be really foolish if you didn't. |
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SWAG = Strategic Wild Ass Guess Stop Wasting Acronyms, Goddamit! Edit: That seemed a lot funnier when I was thinking of it, not so much after typing it... |
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Again, I do appreciate all the kind (and unkind) words/PM but I will be removing all those posts eventually. Want to keep this as clear/concise as possible, thanks for understanding.
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If someone verifies to level 2, then empties bank account, instant buys 50 btc, then never pays, how can this be stopped? Cpinbase takes 2 days to take the bank funds....but they give 50 btc instantly? Sounds like coinbase open to get scammed.
To get "Verified, Level 2", they essentially get your personal info. If you attempt to scam them, they know who you are and will go through approved venues (collections, etc) to get their money back. It's why they can do Instant BTC, they know who you are and where you live. |
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We are glad to introduce our new model of Block Erupter Blades to the market. The hashing unit, the power module, and the ethernet controller are now integrated into one board, resulting in a more compact design with higher computation density. Besides the original power connector, the plug-able gold fingers are added to the blade. The blades are also complemented with a back-plane for them to fit in (10 in 1). It makes deployment easier and quicker. While the back-plane is compatible with any normal PSUs with its cable-based connector, it also offers a slot for a certain brand of widely available PSUs ( Part Number: HP DPS 800GBA or ATSN 7001044-Y000). Spec: 10GHhash/s guaranteed. Rated speed 10.752GHash/s. 200mm x 160mm in size. Resellers:US: eleuthria, CanaryInTheMine, SilentSonicBoom Canada: teek EU, Switzerland and North Europe: yxt China, Taiwan, Hong Kong and Macau: rockxie Australia: leotreasure@gmail.comIndia: Pinwheel Purchasers from the rest of the world can buy the products directly from us. One back-plane will be provided per ten Block Erupter Blade (New Model). Former warranty conditions still hold. Mailing address for sales: asicminer.blades@gmail.com. Mailing address for support: asicminer.help@gmail.com. To purchase, please send your full name/address/zip code/phone number to the mailing address for sales.   (To be extended with more points to note) |
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Just did my second report here. |
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Just did my second report here. |
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