Maybe we should just rename this thread "Vycid proposes that ASICMINER is over-valued' .  Because it seems like that is the majority of the posts here. Perhaps you should start your own thread Vycid.  Or at least cut posts your to just one per page or something. Your posts are reasonable and fair Vycid, but the volume is bit too much.... How many of your 168+ posts have been in either this thread or the other? Really what is the purpose of this. Do you have a regular forum account you use and then this Vycid account specifically for just going on every-day about how you think Asicminer is on the brink of failure etc etc?  I'm somewhat curious.

prodigits7 or anyone else, what are the order numbers from KNC?  I want to contact them personally and verify that the orders have been cancelled and refunded.

If anyone has been following the other of ragin's group buys, for the Avalon chips, they were unable to cancel there order in time:
http://bitcointalk.org/index.php?topic=177994.1720

To be fair this may have been largely more in part of the difficulties of getting hold of Avalon... but nonetheless I think many of us agree that we would like some sort of solid evidence of the confirmation of the cancellation/refund of our group buy order, to be safe.

btw has anyone else talked to JohnK about this besides pro and ragin? He's back from vacation now.

Thanks for the extended info chalbersma, all questions answered now.

Right on good news.

Hey I was wondering, I knew about the new shares being issued, but what will there price initially be?

RSM share price is currently taking a beating

Asicminer has fallen behind, as there is a great deal of competition now. When they were dominate, there was not nearly as many ASIC designs out there.

However it's not 'over' by a long-shot. The company is still in a great position to maintain a sizable chunk of the mining network. Even today they are a fantastic deal for their dividends, paying over a 40% yearly annual return, making buying Asicminer shares a good alternative to mining in this super-chaotic period of change over to all-ASICs.

For Asicminer's future, a lot depends on the next month when new mining gear comes online, and hopefully around the end of the October, when the gen 2 design is revealed. Asicminer does have the knowledge and resources to pull off something impressive.

Friedcat recently purchased some forum advertising spots so there's a lot of anxious people waiting to see what that will be about, including myself...

I'm pretty optimistic that the hash rate falling is a good thing.  It is for some purpose or plan towards increasing the hash rate, and it will only be a temporary thing.

Why do I think that? F.C.  The dude is reliable IMHO. If anyone knows what they are doing, has a plan, and has proved themselves, it's F.C.

I think with all the competition now a-days , that AM will unlikely ever have the dominance they did with their early lead into the ASIC market. That said, I still think AM will do great, and has a bright future... I'm eagerly checking the forums like twice a day to see if there are any updates.

Well, no shortage of speculation in this speculation thread.

If there is any validity or hope of refund these units to need to be refunded with KNC like today. Once the units ship, I think the chance of us getting a refund is basically gone. And I don't trust ragin to tie his shoe if he tells us so, let alone run a group buy.

This 'too depressed to spend a minute to post anything' concept is fucking bullshit. Give me break. You know what would make me depressed? I gave a bunch of money to someone and he fucked off with it. That'd be depressing. Ragin is either incompetent or this was a scam from the get-go. I wonder if bilking us out over 50k will magically help Ragin's depression somehow.

I appreciate the work prodigits is doing, and hope it works out, he's the best bet going right now. But even besides that it is imperative that we get ragin's info released, as per terms of the agreement, so all of us have some sort of leverage, and the units cancelled from KNC, because again, if the units don't get cancelled, we aren't getting our money back, ragin will have all of our machines, and no desire to pay us back or ability to pay us back.

Ya I think things look good. Asicminer is one the most, if not the most,  reliable investment in Bitcoin I'd say. At these prices.

Hi guys. I'm from the raginazn jupiter / saturn group buy.

I haven't read this thread.  

Basically for us, raginazn lied, and is now gone, with no word.  Is this basically the case for you guys? Just wanted to post in case anyone didn't know about our group buy situation as well.

There are many of us in the other group buy who are very committed to getting the money back. Any of you guys here, than lets join forces.

On JohnK: I have written him PMs but not heard back, I don't know what the story is. Getting raginazn's ID released from JohnK is the best idea I can think of right now, hoping we'll respond soon (anyone know where John is)?  Then we can verify that the id does in fact belong to the person who, at this point, is looking like stole over hundred folks' money. None of us want this to stand.

Why wait for September 15th? Do you really think this is going to get any better if we just wait?
 
Ragin's is MIA. There is no excuse for not giving us any sort of update. He has violated the agreement, straight up lie to us all, and now is either cowering like a little girl too scared to say anything to us or running away with the money.

I wrote JohnK a PM. Never heard back from him. Perhaps we should try to get a definitive answer from him on how we can get ID released to us so we can try to recoup our money. Obviously this group buy has gone to shit. I don't have any faith in a guy hosting our over $50,000 USD worth of miners if he doesn't even have the wherewithal or honesty to order it properly as he said he was.

Anyone has any comments I'm all ears. But I think our first step should be getting the ID released from JohnK (or at least figuring out the protocol to do so), and then verifying that the ID he has is the person we gave all this money too.

Thanks for going down prodigits.  Really looking forward to what you find out.

Thanks for the work on making this analysis.

It's sort of scary but good to know.

Hey dbasql can you refer me to this post ? I'd like to read it for myself.   I don't see how John K could not release the info when this group buy has gone to crap; what more would it take? If this is the case, than what was the point of even using JohnK? (not being sarcastic here, I don't know).  Thanks.

As for lawsuit, I think that is last resort behind talking to ragin in person. Getting hold of his personal info and letting him know that he will not just be able to rip off a bunch of people and expect no consequences.  At this point, it is still not a big problem to get a refund on the KNC units processed and the shares refunded for people who want them.

Just for everyone's FYI trying to answer my own question. Sent John this PM:
____________________________
Good day JohnK,

I am a member of RaginAzn's group buy. It is increasingly looking like this is a scam.

I was wondering three things:

1) What information / ID you have of this person.

2) If there was any verification that the ID was in fact this person.

3) Under what conditions you will release this information to all group buy members when it has been firmly established that the terms of the group buy have been broken.

Thank you for your time.  I have no immediate plans to do anything, but I do want to make sure that this situation does see a resolution.

Thanks again, glendall

Thanks.

And sorry for the confusion I caused in the slight hijack here.

Sorry if this is dumb question, but:

I'm want to write JohnK a PM.  What is his member name on this forum?  (Obviously, I first searched the member's database, and can not find a JohnK).  I guess this is so obvious that most people know it but please assist.

So ragin's ID is held by JohnK or someone else?

I think this should be verified immediately if it is/was his real ID (keep it private for now).  Than we take it from there.  

There are what, 100 people or more in this group buy.  I'm only in for 3 btc but I will not stay idle about this just on principle.

The terms of this group-buy have been violated. There should be full refunds immediately. Let's not all wait until it's too late do anything. We should try to get this resolved this week. If we don't hear back anything (satisfactory), ragin's ID should be released to all group buy participators so we can try to get our money back.  

This guy lied. And there is no excuse for not making the orders until he did. At this point KNC is able to refund all the funds so this should be done. No way we can wait to hear back beforehand from every 100+ person in the group buy about this before we do anything.

I'm really looking forward to the announcement of the Gen 2 product. Can't wait. I have high hopes. Hopefully it will come at just the right time....  I'm holding shares long, and hope they rebound to some extent to somewhere close to what they were going for last month...

I got faith in F. C.

Hey dudes. I sold my small GPU farm off, except for 2 7950's, which I have in my main rig.  I have my PC on all the time so thought I would mine with them still, even though this is not a dedicated mining pc.

I was wondering if anyone knows, or has a guess, as to what Intensity mining rate is most power efficient. Does anyone know if it basically it is the greater intensity, the more the power usage, the greater the hashes --- or if instead, it is something like using 60% of GPU is better use of Watt-to-hash than using 90% of GPU, for example.

I have them mining at an Intensity of 14 but not sure if there is a lot of point, because power isn't super cheap here.