2M$ for 200 Sierras, while the retail costs of it (batch 1 BJ) would have been 3.4M$.
Can you share the terms of sales you are bounded to with HashFast? I know that you almost definitively won't, but they would be really interesting.
Don't forget the 15% GST and HST that became due when they took delivery in Montreal. 500 BTC or so... http://www.revenuquebec.ca/en/entreprise/taxes/tvq_tps/The good news is that with 22 000 / month in facilities, lawyers, accountants, plane fares, hotel bills, and not even bothering to plug machines in, there won't be any Canadian corporate taxes to pay. |
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WHERE ARE THE FARM DETAILS. WHERE ARE WE HASHING. WHAT WALLET IS RECEIVING PAYMENTS?
WHERE ARE OUR DIVIDENDS?
It's not like people weren't warned about how DeadTerra treats investors. I am still dumfounded he was able to raise so many bitcoins for this venture. And never accounted for where all those BTC went... https://bitcointalk.org/index.php?topic=269216.msg2928778#msg2928778 |
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The only good way to start mining is invest 10.000$ - 15.000$ minimum.
Then we can talk.
How is someone who invest that much not affected by the rising difficult? He's not. but investing 10k-15k$ will make it more sure that you will get your money back and earn some more. You still haven't explained why that is. I know several who have invested quite more. Why should someone with 15k get more BTC per invested $ than someone who only invests 1000? If you buy 1 TH for 10,000 or 100GH for 1,000 makes no difference in the $ to BTC ratio. There is one big difference. If you buy 1 Th/s you can put it in your garage and just pay for the additional power bill. If you buy 100Th/s you need a building, racks, air conditioners, security and more. Buying that will cost more than your mining hardware, and leasing it will cost more than the miner makes in a few months. The advantage will swing back to distributed miners soon. But don't expect to pay your living expenses with 1 or 2 machines. |
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Funny, I just noticed this bit about account setup at UMC. I really doubt that UMC would build masks for a customer without an account, so that means no 55 nm tapeout yet. Based on Ken's promptness on getting shares tradeable, I guess he'll tape out in May. If they have the money...
Weekly Update 2/5/2013
This last week has been very busy with our Project manager and engineers working with eASIC on our 28nm custom chip. We have receive the first results back and the chip is expected to run at 30 GH/s, we are working on improving this number. Also, we have received the quote on our PCIe board and our project manager and engineers are meeting with eASIC and our board engineers this week to keep our project on track. We are also meeting with UMC to finalize our account setup. We are also thinking about going to a 20nm custom chip and skipping the 28nm, if we can get it produced fast enough.
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this got moderated from the official thread - lol
the license plate is 'ACTM 911' - seemed fitting
It's really strange what does and does not get moderated over there. Ken really goes into a rage when I call him an alcoholic. :-) The Stockholm Syndrome really has a grip on the throats of most folks over there. They take the most ridiculous claims at face value if it offers the tiniest glimmer of a chance to exit with their skin intact. Nobody asks where the 10s of millions to make a 28 nm device will come from even while Ken is desperately trying to come up with $80k selling shares while he holds everyone else's shares hostage. And of course there is the greatest elephant in the room. Customers. According to Ken he sold $6M of easic devices that were promised to customers in November. A project that he has now cancelled. And yet there is no one complaining. Not a peep. Cointerra is a month late, but actually shipping and folks are warming up the tar and feathers for Ravi and his team. But Ken's customers, dead silence. Maybe all his customers are from areas without internet access??  |
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... 6. your projection shows essentially 1.7MW of power usage for those chips. that takes into account the chip power usage only. what are the additional projected power needs for all the other equipment?
At this time, we don't have a projection on the boards power; however, the chips consume >98% of the power....  No doubt thanks to Intellihash(tm) And this, folks, is your EE IntelliVRM(tm) efficiency >98% !1!!!1! I would be fascinated to see these greater than 98% efficient voltage regulators Ken has found. Not to mention the capacitors with zero impedance at high clock rates, zero power USB and I/O controllers, superconducting board materials,... Seriously guys I take everything back. With technology like this it's a wonder Apple hasn't bought the company out. |
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Probation and fines which are enough to bankrupt him and the company. Still if the prosecutor has a strong case and is looking to prove a point, well he could go for a lot more.
After watching the New York regulatory hearings is there any doubt the prosecutor is looking to prove a point? No doubt but I guess it comes down to how far is he willing to go. Knowing HSBC executives for example laundered billions and faced not a day in jail will he still seek the max jail time for the employee of this company in order to prove a (hypcritical) point? Or will he be satisfied with destroying the company along with probation and a plea? I guess we'll find out soon enough. I honestly doubt he will get more than 3 to 5 years. If he gets 25 years there will some backlash not cuz he did a crime but because of how unfair/balanced the punishment was. I would agree. But I doubt it goes to court. The prosecutor will threaten 25 years, and settle something on the order of 3 to 5 plus ruinous fines. How can he pay the fines? They've taken control of all his BTC. Personally, I think they will try to hammer him, but it depends very much on who he is serving up to the feds. If he spills all, he might get away with a short term. If not, 20 years. Sometimes fines are meant as licensing fees. Other times they are intended to ruin a company and its principals forever. Guess which category Wachovia, HSBC and JPMorgan get, and which Charlie Shrem will get. |
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I'm always amazed by the lack of discussion of discus fish on here.
OrganofCorti clearly developed evidence connecting them to ASICMiner back in the late spring of 2013. Now they have >10% of network hashrate.
Ever wonder where your dividends went?
EDIT: To be 100% clear, I think Friedcat chose to reinvest his earnings in his own mining operation independent of ASICMiner. No direct fraud just a huge conflict of interest, and lots of shareholders wondering why their hashrate never grows.
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FYI - in addition to the 7 questions I posted before, I asked Ken about the 10.488 TH miner he announced and this is the reply:
One more:
8. you said most recently that the 7-unit (7x 4U units) miner was going to be 10.488TH. then you released that the boards for the 55nm chips will only hold 24 chips, which would mean 45.6GH per board, so it would need to have 33 boards per 4U box. is that 10.488TH still the official figure?
The 10.488 TH/s System is 230 cards in 2 42U racks. 1 Base unit with 5 cards and 15 expansion cases daisy chained together. Are those specs good or bad? 45gh per card seems pretty low density.... So, more than likely the "budget" option that we might see purchased (if we are selling these... I'm still not sure if we're just building the ActM operation with these chips.) will be having an affordable ($1K-$2K) base unit with expansion. This would provide 20 cards of hashing power or 912gh/s before any performance increases. My guess is that we will be able to clock these chips up a bit from 1.9gh/s with good stability and will be able to push this budget option up to and maybe slightly over 1TH/s. But, yes, I agree. 2 42U racks for a little over 10TH/s seems a bit much. Imagine setting up a 1PH mine with those - you'd need 96 42U racks! Of course, that isn't what the 55nm offering is aimed at. Good thing we have those 28nm FCICs on deck for bigger operations.Try 200 racks. And about 3 MW of power and cooling. |
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Probation and fines which are enough to bankrupt him and the company. Still if the prosecutor has a strong case and is looking to prove a point, well he could go for a lot more.
After watching the New York regulatory hearings is there any doubt the prosecutor is looking to prove a point? No doubt but I guess it comes down to how far is he willing to go. Knowing HSBC executives for example laundered billions and faced not a day in jail will he still seek the max jail time for the employee of this company in order to prove a (hypcritical) point? Or will he be satisfied with destroying the company along with probation and a plea? I guess we'll find out soon enough. I honestly doubt he will get more than 3 to 5 years. If he gets 25 years there will some backlash not cuz he did a crime but because of how unfair/balanced the punishment was. I would agree. But I doubt it goes to court. The prosecutor will threaten 25 years, and settle something on the order of 3 to 5 plus ruinous fines. |
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You made the point that Ukyo could declare bankruptcy. This is why we have to have a fire sale at this time. Should Ukyo declare bankruptcy, the court would put a stay on selling any of his assets, and Active Mining would be stuck until the court confirmed that our lien on the shares comes before other debtors.
So, this is the reason for putting up the shares at this time ahead of other shareholders being allowed to trade.
What ken is saying is "this is why we couldn't wait to list these shares" What ken isn't saying is "we are purposely holding back everyone elses ability to trade so we can sell ukyo's shares" I am sure you would like to believe this. And of course intent is impossible to be certain of in any case. But actions speak very clearly. And the action here is dumping shares while continuing to not allow anyone else to trade. |
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Escrow Escrow Escrow...if the amount carries sufficient counterparty risk such that there is more than $120,000 USD at stake, then you need to do multiple escrows or deal with them person to person, preferably with armed guards and during the business hours of YOUR bank in a downtown area in a first world nation...
Escrow with who? A trusted member here?(I agree, and I'm sure all the victims feel a bit daft, but hindsight is a wonderful thing. Projects really was a trusted member.) Rassah Is that the same Rassah that admitted to knowingly accepting stolen coins? That doesn't meet my definition of trustworthy. https://bitcointalk.org/index.php?topic=447668.0 |
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An investment which shows a profit after 12 month would be conspired a good investment by most people.
Plus, alongside rising difficulty the BTC price may rise as well.
I doubt you would find any takers beyond 4 months to breakeven right now. In fact the auction and sales threads support that claim. The harsh reality is that reliability of these new miners is completely unknown and unknowable. Failure rates on some gear is already into the 10% range. Add that to the extreme difficulty increases and bitcoin valuation risk and mining investments are painfully risky. Many, many folks would be broke right now if not for the November/December moonshot in prices. If you want to bet on price increases it is far safer to buy coins and put them in cold storage. |
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Probation and fines which are enough to bankrupt him and the company. Still if the prosecutor has a strong case and is looking to prove a point, well he could go for a lot more.
After watching the New York regulatory hearings is there any doubt the prosecutor is looking to prove a point? |
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Wow. So when Rassah was attacking me for criticizing Roman's handling of the Bitfloor fiasco he was aware that his organization had directly benefited from the 'hack'?
I wonder how many more bodies will come to the surface here?
Where's somebody like Phinn to investigate?
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If you don't think these are a steal you haven't researched the company.
This price values us at a meagre 12 million USD for the entire 25mill shares.
I liked this price 9 months ago when I bought my shares. Right now, I'm not buying any more and I'm also not selling any (ha, as if I could!) Difficulty went up 200 fold since then, and potential profitability went down by the same amount. The only saving grace is the increase in bitcoin exchange rates. But on top of the difficulty increase your company has failed to deliver on any of it's promises, the leadership has actively deceived you and the SEC has started investigating for securities violations. |
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There's really no point in pretending you aren't part of coinreport. No one is being fooled.
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I can't believe I never noticed this thread before.
His estimate might be a little high, but it doesn't seem impossible given the competition. Bitfury chips can do 3GH/s with better efficiency than these specs (though no one seems to run them that high), so ~12.7TH/s per wafer before losses. Antminer is claiming a 12mm^2 die and they're getting 2.8GH/s in their miners at pretty much exactly the same efficiency as Ken is claiming, so that would be ~14TH/s per wafer raw. That's right in line with that these numbers.
I'd be interested in what you would estimate the cost of 5 lots of wafers for a 55nm process, along with the mask set cost. Fabs are notoriously tight-lipped with these estimates, and I don't have access to any recent GSA reports.
I'd be more worried about his timelines and costs, especially since the profit projections he's releasing have them mining on May 1 with 1.2PH/s when the bulk of the wafers aren't scheduled to arrive until May sometime. They also don't seem to amortize the cost of the mask set or infrastructure in the hardware costs in those projections. I'm still not sure if that was meant as some kind of cruel joke though.
Ken claimed 0.7V to get his power numbers. Those ultra low voltage processes have dismal yields. It doesn't matter to Bitfury because he is getting a huge premium for his devices. Schedule is definitely the cruel joke of this latest round. If Ken gets first silicon in April, he will be lucky to have validated boards in June. Then it is another 60 days for volume wafers. By then there will be 20nm products on the market, and possibly 14 nm. Costs are tough to say with any precision. Everything is negotiable and the semi market is really horrible right now. If it was a good market he wouldn't get wafer starts at all. Foundries research their customers, and he wouldn't come through that looking very good. Ball park: Mask Set $400k Payment to People's ASIC  Wafer starts $3k Bumping, Packaging, assembly, test NRE $100k Back end unit costs will be significantly more than silicon. I would expect that he needs to build 1 Ph/s just to get his real costs lower than just buying Antminers in bulk. |
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If bitcoin crashes to that level the only people able to operate profitably will be stealing electricity. I guess if you consider electricity theft to be a necessarily small time activity, then the answer to your question is yes.
But I wouldn't worry about it. Williams is a moron.
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