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Which bad decision?
Sell instead of mining? You already know that self mining is worse.
Sell price is too high? I don't think that's reasonable from an investors perspective. Even for the miner, who knew the difficulty will increase so fast then?
Failure in Gen2 chips? That's not a decision. It's an unfortunate result, but certainly not because he decided not to design Gen 2 at all.
Collect money for Gen 3? Without this, I believe the stock price will go to 0.
I personally lose more than 30BTC on AM, but I think it is my own fault in bad evaluation. Friedcat already returned more than 500% to IPO investors, I don't think he is responsible in pleasing us, who bought atoverpriced shares. The money we lost went to the sellers, not AM.
The main mistake is not maintaining the lead while you have it. It's a fatal mistake. |
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Don't expect repeat customers when they are fucked with ROI. If they lose money they will not buy again. Easy stuff.
Wrong. The numbers were plain and simple, but those customers refused to do some math and blindly bought random stuff. We're not talking about dvd players, mind, we're talking about "devices that create money", so there's really NO excuse not to do your math and see if it will be profitable. This has two implications: 1. if they've lost money, it's entirely their own fault 2. since they are so brain-dead, they'll likely come back anyway, they might not even realise they have lost money (they didn't check before, likely they aren't checking now nor they will later) Not a good foundation for any business anyhow. To profit from other people mistakes. Don't you think? Anyway miners are getting smarter now. With so many competitors about to deliver and with much better pricing, the market will likely establish a fair price for mining devices. Being dependent on hardware sales for profit, like ASICMiner is at this point, is a very low margin business. Do your math and you will see why divs will go lower and lower. |
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With the geometric increase in difficulty and ASICMiner not increasing its mining share even if friedcat where to pay full divs, they will be lower than what he has been paying even when withholding.
Mining performance for ASICMiner is a disaster. Hardware sales are inline and not growing. Don't expect repeat customers when they are fucked with ROI. If they lose money they will not buy again. Easy stuff. You can not grow a company by f***ng your customers.
Many hardware competitors with better pricing now and with instant or almost instant delivery including Avalon and Knc, plus others coming soon. The cat has really been fried now.
Hardware prices will decrease rapidly at this point and it will be harder and harder for ASICMiner to stay in any leadership position at all, it has already lost the train due to bad decisions at critical points. The cat is fried.
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[NR 1] Triplemining.com <> BIG SHIT every week <>
Eating shit guaranteed every single week!
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Compared to the last financial report:
- Mining revenue is decreasing rapidly; in fact it is less than a third of the reported revenue on the last fin. report
- Hardware sales are inline, -i.e not increasing at all and not increasing to cover mining loses
- Expenses are way up
- Plus no plan for the future has been reported.
- Shrinking revenues is not a good thing to see on a bitcoin-related company.
Conclusion: this time selling shares is justified. Owning shares is a high risk now.
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And no chance to export into direct shares on bitfunder
Not a US citizen, but I am sure Ukyo/Bitfunder will or should facilitate a transfer to direct shares or either a transfer to Havelock. Ukyo thread is located here: https://bitcointalk.org/index.php?topic=130117.0 (that thread is on fire now!) Anyway, that should have been clarified before posting that unfortunate notice. |
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You see, the recent down movement in ASICMiner shares has been caused by a single seller, probably Vycid or a similar guy. If you study the selling patern of the last few weeks it is easy to find it out.
This guy has been selling shares like crazy while at the same time pushing other weak hands to sell as well. He has been placing sell orders in "small" amounts (orders like sell 20 shares at 2.1090, sell 15 shares at 1.9010, sell 10 shares at 1.1080 and things like that). Around 700 to 1000 shares or so have been sold in this format, most of them between 1.00 btc per share and 2.00btc per share.
The good news is that this big seller, whoever he is, is in the red right now, and is out of shares.
As friedcat is doing an excellent job, will be adding additional hashrate very, very soon, releasing new generation chips and maintaining his no preorder policy which has won him and ASICMiner its so much well deserved respect, I expect the company to keep growing and the shares to reach new highs soon.
The sellers are now in the red unless they buy a similar quantity of what they sold, buy now immediately of course, not an easy task at this point. Meaning the big seller whoever he was is eating big shit at this point.
Blue skies on the horizon for friedcat and ASICMiner.
Add to that the recent fiasco of burned Knc machines and you have the perfect timing for friedcat to once again accomplish his objectives.
Hey who did it is not vyced  , not gonna tell who though,  Whoever he is, he is out the game now!  |
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You see, the recent down movement in ASICMiner shares has been caused by a single seller, probably Vycid or a similar guy. If you study the selling patern of the last few weeks it is easy to find it out.
This guy has been selling shares like crazy while at the same time pushing other weak hands to sell as well. He has been placing sell orders in "small" amounts (orders like sell 20 shares at 2.1090, sell 15 shares at 1.9010, sell 10 shares at 1.1080 and things like that). Around 700 to 1000 shares or so have been sold in this format, most of them between 1.00 btc per share and 2.00btc per share.
The good news is that this big seller, whoever he is, is in the red right now, and is out of shares.
As friedcat is doing an excellent job, will be adding additional hashrate very, very soon, releasing new generation chips and maintaining his no preorder policy which has won him and ASICMiner its so much well deserved respect, I expect the company to keep growing and the shares to reach new highs soon.
The sellers are now in the red unless they buy a similar quantity of what they sold, buy now immediately of course, not an easy task at this point. Meaning the big seller whoever he was is eating big shit at this point.
Blue skies on the horizon for friedcat and ASICMiner.
Add to that the recent fiasco of burned Knc machines and you have the perfect timing for friedcat to once again accomplish his objectives.
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[NR 1] Triplemining.com <> BIG SHIT every week <>
Eating shit guaranteed every single week! Wow!
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No comments on that organofcorti. I do have respect for your work and have nothing against you. Believed or not, yes donations have been received.
Now, this pool has been freezing payments for mined blocks and that is a fact as acknowledged by the operator himself.
Do you think miners enjoy having payments blocked?
As said, an update from the operator on his previously posted data as well as on the pool policies regarding the blocking of payments is appreciated. I am sure miners are interested about that.
I will not repeat what has already been said so this is an Ending point.
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More donations are coming! Thanks fellow miners! We do not forget.
1, 2, 3: Pay, kinlo, pay. Pay, kinlo, pay. Pay, kinlo, pay.
1, 2, 3: Pay, kinlo, pay. Pay, kinlo, pay. Pay, kinlo, pay.
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You are wrong again. As acknowledged by the operator these are not all botnets and there is honest people there. To give an update about the blocked users:
- There surely are people that are doing honest work on the pool, compared to real botnets. However I cannot distinguish between them, that's why I'm enforcing a global rule for everybody
Now blocking payments for mined blocks is no joke and is no politics. I will appreciate kinlo's update on that and will personally congratulate him on releasing all payments and even on updating the pool practices. |
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To give an update about the blocked users:
- We had about 100 users that have been blocked, due to massive connections. Except a few (shubhank for example) that were giving several gigahashes to the pool, the majority only contributed a few megahashes, with a lot of connections (>1000).
- We're currently down to about 25 users with many connections. This is good news, as the load has reduced on the pool server, allowing me to shut down back-ends, which cost me money, money I will probably never get back. Most of the feedback I've received was positive, too bad we have a few trolls.... The others have been unblocked.
- I am occasionally unblocking everybody, so those that did not request an unblock will get an unblock anyway if they stopped their connections. However, as soon as the script runs again (currently once per 24h) the accounts going over the limit are blocked again.
- There surely are people that are doing honest work on the pool, compared to real botnets. However I cannot distinguish between them, that's why I'm enforcing a global rule for everybody to use only a limited amount of connections. These limits are high enough for any single miner to continue mining, but it is for me impossible to manage separated rules for everybody: that's why there will be no exceptions. Anyone can run a proxy server to run as many clients as they'd like.
- Shubhank008: it's nice to see that you can manage your users with just one server. But please do not underestimate the total load of all combined connections, plus the fact that not all miners are equally efficient
- Shubhank008: you're still welcome to mine on our pool, I've only paid you as an act of good faith, but we can continue this discussion on irc. I can give you details about the remaining connections.
Well kinlo, I was about to congratulate you for rectifying, but you still have many, many users with blocked payments for already mined blocks. And I still have not received all answers from involved users yet. So there may be more than the 25 you yourself recognize. Some of them, as you well know, have greater amounts owed that Shubhank008 had. It does not seem very fair to hold those amounts for such a long time just because your script correctly or incorrectly (as you yourself recognize) flags them as bots. And at any measure it is not a good practice at all, to hold payments for mined blocks. This should never be done at any pool. Will you be so kind to honor all users for all their mining work that has already been converted into coins, coins that you are still holding. Would you please pay what in all common sense is actually theirs, their share of work for already mined blocks? A recommendation here: clear payments for all accounts asap, pay all users what you owe them for all mined blocks, by now a high amount when you add up all users. You are not clean until you pay them all, kinlo. Then you may want to enforce your policies, whatever they are, crazy or not, but you should inform all miners before they open an account at your pool, that you will be from time to time holding payments for their share of mined blocks according to whatever crazy rules you are implementing. This will probably avoid any mistakes on their part as well. Inform them of your policies, crazy or not, so that they are aware of the risks they are taking when mining at your pool. As of today your miners are not informed when joining your pool. Until you do that it seems like a miners trap. kinlo, can you please update, as organofcorti is hungry for more data, as well as clarify your pool policies regarding appropriation of payments to miners for mined blocks. Will you continue to do that? Thanks. |
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Well, it has content and it has data if you know how to read.
Many thanks to those miners getting their payments released after so many weeks that have sent donations. Thanks for your support, you are legion.
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Then we both support data. That's good.
More than enough data has already been provided, even by the operator himself (over 100 and then over 25 users with payments on hold according to kinlo), if you read carefully. Users with blocked payments have come in and have provided data like shubhank008.
And more data is on the way, when the time comes.
Apart from shubhank008 I have seen no confirmed data. Well, you see, in the free world you are innocent until proven guilty. Not the other way around. Nobody should go through all the trouble that shubhank008 had to just prove his innocence and get paid his fair share of work for mined blocks after waiting for so many weeks. When you mine at triplemining you seem to be mining at the Mother of all Inquisitions and as soon as you or one of your minipool users is flagged you are lost and your payments are frozen. Not a good practice at all. Again, no pool should appropriate coins belonging to miners for their mined blocks. Over 100 users, then down to 25 (a bit more according to the number of people that have contacted me) have been judged by the inquisitors and had their payments frozen according to the operator himself. There are many, many burned innocents, at this middle age style bonfires, among them. |
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Then we both support data. That's good.
More than enough data has already been provided, even by the operator himself (over 100 and then over 25 users with payments on hold according to kinlo), if you read carefully. Users with blocked payments have come in and have provided data like shubhank008.
And more data is on the way, when the time comes.
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Wrong, many innocent users are caught up with payments blocked.
Blocking payment is not stealing. Unless the owner/miner of the coins agrees for those to be withhold and the operator pays an interest for holding them, then blocking payments is in fact stealing. That without mentioning other damages to the miner like in the case bitcoin goes down in price and the miner has to pay electricity and other bills in USD or any other currency. The longer the operator keeps the coins for himself, the more trouble he will have. So yes, blocking payments without the miner consent is in fact stealing. |
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So many users with payments for mined blocks appropriated, as acknowledged by the operator himself, is no hearsay.
As kinlo well knows, most of these accounts have stopped mining long ago.
More info will come and be posted on time.
That said, no one should go through so much trouble as shubhank008 had to, just to get paid for what in all common sense belongs to them, their share of work for blocks mined and converted into coins, coins which are appropriated by the operator.
Now organofcorti, I do then understand that you do support pool operators which block and appropriate payments for work which in all common sense belongs to miners, is that correct? I certainly hope that's not the case, because it will be a nightmare for miners if all pools did that!
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That's not correct: many accounts have stopped mining long ago now.
Just pay for all mined work that has been converted into coins as every pool should do.
And you are right, blocking of payments is common, just look at kinlo's own post. These are many users, not just a few.
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Wrong, many innocent users are caught up with payments blocked.
Second, all pools should pay for mined blocks and triplemining is not doing that. Therefore creating a lot of trouble for innocent miners which at anytime and by surprise could have their payments for mined blocks appropriated by the operator. No pool should block payments for mined work which has already been converted into coins. Period.
Third, as previously said, I will agree on blocking bootnets from mining or just closing the "suspected" botnet accounts, but if you read carefully, the operator is not doing that.
It's just common sense what is defended here.
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