Warning. This is premature, but there has been a large spike in network capacity over the past couple of days. Let's hope it's variance, but it's a hockey stick pattern.  Edit: 700 GH of the above was added to the EMC pool under multiple pool accounts. Seems like current technology and not an ASIC scare - but what about the other 3 TH? Variance? I'm guessing that the new 'stable' Glasswalker bitstream for the Enterpoint FPGAs has got something to do with the spike in the hashrate 3TH? No, but it is a noticeable addition |
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Bitcoin 2  They haven't even released Bitcoin 1.0 yet !!!  |
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I don't understand the need to change the business model.... You say ASICMINER needs at least $100K to work out.... I thought it was $200K
200k shares were issued but the target was to make at least $100k from the IPO or it would be refunded. NRE costs $90k and the extra $10k was for financial buffer to pay for PCBs, testing etc. I read the OP and they were indeed targeting a minimum of $100K So then there is as of yet nothing to worry about.... 8.000 BTC already raised, 7.000 BTC is pledged (although it is not sure how much of that will actually be fulfilled of course) 15.000 X $ 7.80 (as of the time of writing) = $ 117.000 Now nobody knows of course what the $ value of a Bitcoin will be when the IPO closes, but I like to be optimistic I myself don't see the vlaue of BTC crashing.... if that were the case I would certainly NOT invest in an ASIC, but I do see a bright future for Bitcoin, that's why I like the part mining concept of this stock...Only selling the hardware has got nothing to do with Bitcoin itself... you might just as well be selling an ASIC for SETI or WorldGrid Anyway, again my wish would be to see how the IPO ends.... but again... let's leave that up to Friedcat and his friends before we start flooding the tread with how we think they should change their business model |
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I believe the BTC exchange rate is going to plummet, leaving this IPO untenable without an enormous campaign for new funding. This is a shame, because everything I've seen indicates that the individuals behind this are best located and resourced to make this happen. We need at least $100k for this to work out, and we nearly had this before this crash. If BFL succeeds in flooding the market with new mining rigs at the new rate it may be impossible to bring a new ASIC startup to market for another 6-8 months while Bitcoin rebounds.
Of course, ASICMINER's goal should be to sell hardware, and every day that the rate decreases it seems more of a priority for us. For that reason, I propose a change in the the business model.
I don't understand the need to change the business model.... You say ASICMINER needs at least $100K to work out.... I thought it was $200K Friedcat posted the other day that 8000 BTC had already been raised with another 7000 BTC waiting to be fulfilled https://bitcointalk.org/index.php?topic=99497.msg1107204#msg110720415.000 BTC * $7 > $100K So we are still good to go, if it is $100K and the original plan for the IPO was to raise a total of 200.000 shares @ 0.10 = 20.000 BTC That would mean even at $5 it could still be viable For me part of the appeal was that ASICMINER itself will be mining, 'guaranteeing' the return of the original investment, whereupon mining and sales would lead to additional revenue and profits.... To be just investing in a hardware producer is something completely different, not to mention taking pre-orders and compensating customers, how laudable that may be.... Let's see what the status of the IPO is August 28th (that was the original deadline if I remember correctly) and then do a go / no go or change the entire business model.... Anyway.... upon re-reading your post it leads me to believe you are not one of the people behind the ASICMINER project, but just concerned about your investment (?) so let's let one of the spokespersons for ASICMINER handle the remainder of the IPO |
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I'm dying to hear if the conference call has taken place and what the feedback is  It's finished. This time I had some kind of problem with my place so it turned from a video chat to a text-only meeting soon. Though I can confirm taht we saw his face and heard his voice for some time  So you have established Friedcat is a human and not a bot.... Well, I guess it is a start  |
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I'm dying to hear if the conference call has taken place and what the feedback is |
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I say let the numbers speak for themselves (i.e. the amount of BTC mined in the 1st 24hrs ) No need for a testnet demonstration.... |
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Let me ask you (and by extension everyone else): Do you want us to ship out a small quantity of units first and then a larger quantity later (thereby giving the first shipments a major advantage) or hold on to the units until we have enough (I am still going over what the "enough" is, specifically) to satisfy a large portion of the first set of orders at once?
It was my impression that the overwhelming majority wanted the playing field to be as level as possible, thus holding on to the orders until there's enough to ship a reasonable quantity would be preferred over shipping out a handful of each right away? Is that thinking incorrect?
Ship all per-orders at once and anything after the pre-order cutoff (I am assuming that might be October 1st) in a FIFO fashion. Surely it isn't too hard to do considering ASICs tend to get manufactured in larger quantities, right? I suggested that back in July : adjust the 1st production run to the number of pre orders so you can fill them all Thats what pre orders are for But that idea was not deemed possible back then, a lottery made more sense Hence I did not order ;-) |
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Thanks Payb.tc Ill leave a positive rating on IIRC, as soon as I work out how |
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While random could benefit me since i havent preordered yet, i would think based on order number would give you the best "transparency". Those who were first in line to pay first should be first in line to receive -- however they would make a killing until difficulty adjusts and i understand your trying to split up the hashrate among as many people as possible...
I see where you are going with that. But then on that same line of thought BFL should only release all of the Jalapeno first, then all of the SC Singles, then the SC MiniRigs, you know... to keep it fair.  That is like comparing a new Ferrari that is going to be built, they have taken pre-orders and then when they are close to it being done they tell all the purchasers, "We are going to randomize the release of this new model because it would be unfair for any of the individuals who had their money in the longest to soak up all the pussy and prestige". To be fair they have stated from the beginning that they were going to do the 1/3rd 1/3rd 1/3rd lottery style distribution for the orders of the 1st month Do I agree with it ? NO That's why I did not order ! |
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Congrats ! Let's hope design, production and mining/selling goes a smoothly as this funding round |
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Gavin = Pirate = Satoshi
Q.E.D.
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Read up on some of the heists at exchanges in the past. Coins to be traded are usually stored in a hot wallet with enough coins to cover the expected trades so if the exchange is compromised they don't loose everything. The bulk is stored in a cold offline wallet for security.
I don't see why the trading engine needs access to the coins. It just needs to know how many are available. The coins only need to be accessed when they're withdrawn. That's exactly what I am thinking.... There are no real coins on the trading part of the exchange... just a bookkeeping system: Client A trades with Client B so in our database we change the holdings of Clients A and B Hot and cold storage wallets have got nothing to do with the actual trading.... at least they shouldn't |
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9000+ coins waiting in the queue to be withdrawn.... That's a hell of a lot, even for BitcoinMax !
Are you sure? It has been rumored that BitcoinMax has at least 120kBTC in it, so it that wouldn't be that much, relatively speaking. And don't forget, the withdraws where not public in the past, so we have no clue if this is more or less than usual. True ! Let me rephrase that: 9000+ coins is a hell of a lot to me |
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This will end with pirate closing his operations, everyone getting his coins back, and everyone feeling sorry for the lost opportunity.
Great, thanks everyone.
What a fucking joke.
Well, if everyone gets his money back then at least it wasn't a ponzi  |
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9000+ coins waiting in the queue to be withdrawn.... That's a hell of a lot, even for BitcoinMax ! Disclaimer: None of them are mine.... at least I hope not... |
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If part of that queue at BitcoinMax was already there before you made your withdrawal then obviously other people have been waiting longer than you to get their money.
What's this? Got a link to the appropriate discussion? Was a post made earlier about the withdrawal queue at BitcoinMax and if Bitlane's thread had set this off Bitlane replied that part of that withdrawal queue already existed so that it had nothing to do with him posting https://bitcointalk.org/index.php?topic=101152.msg1106760#msg1106760Anyway, apparently all is solved or at least postponed till Monday Let's hope Bitlane gets his coin then ! |
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It looks like this thread has started a bank run from Pirate. There are 23+ withdrawal requests from Bitcoinmax right now. The list only shows the first 23, it could be 1000 requests, or it could just be 24.
Well, part of that queue was there before I made a stink......so it's not all my fault. I just didn't give a fuck about 'future' interest and had the balls to put honesty before my own personal greed. As with most things, this could have been avoided with a bit of communication....COMMUNICATION TO ME.If part of that queue at BitcoinMax was already there before you made your withdrawal then obviously other people have been waiting longer than you to get their money Do you expect Pirate to give you a preferential treatment ? Hey it's Bitlane, let's push his withdrawal to the front of the queue ! Seems to me a lot of people want their money and has hasn't got it readily available or is doing something else.... Anyway, Just saying... I hope you get your BTC soon ! Best of luck |
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Friedcat:
I'm thinking bitfountain had a certain amount of $ in mind when you started the IPO
With the increasing price of BTC vs the $, does this mean you will consider lowering the amount of shares in the IPO ?
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I am taking orders for ASICMINER shares. Price starting at 0.1 BTC but can be discussed depending on volume No minimum volume and instant transfer after the transaction has been received. Pm me //DeaDTerra Price can be discussed depending on volume ? Below the IPO price of 0.1 How does that work I am just that boss ^^ //DeaDTerra Lol Respect Mr. Boss ! |
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