errr I can't see how Ken recouping ACtM's lost 106,000 USD is him 'trading for himself'. You've been told enough times that this is ACtM money and that it will be going onto the ACtM balance sheet.

Because you are a dick.

Edit: And a pathetic specimen of a human being.

I stand corrected. I wasn't around at the time of the first launch but shortly after and haven't refreshed my memory of those heady days for some time. Thanks. 

Do you know what an IPO is for? Raising funds. We don't need to raise anymore funds.

You can't really have a second one anyway it's an initial PO. There really was only one, the 'second' was just a re-write and offer-price of shares was adjusted due to market demand.

Yes, the original IPO (for VMC) was re-written after shareholder demands into an IPO for ACtM. That was to ensure shareholders get a guaranteed 0.0025 BTC per share payout before Ken's shares get any dividends.

VMC is now a wholly owned subsidiary of ACtM. Essentially VMC is the manufacturing side of ACtM and shareholders in ACtM get all of the VMC profits. There are no longer any shares in VMC.

There is no need for a third IPO. Ken has sufficient funds to progress. He has never said we need to raise anymore funds from shareholders and has not asked for any more funds from shareholders.
The second IPO was actually a continuation of the first and was the shareholders idea.

The short-term price of shares is not the CEO's concern. If you want to sell, do so, if you want to hold do so. These shares will start paying off in a month? 6weeks? But as the chances of our investment making ROI+ has recently gone up 1000% I don't see many bids below 0.003 being filled for long.

As I worked out some days ago. If we can take and then hold just 1.25% of global hash by beginning of April, and meet our predicted sales figures, and see BTC appreciate to an average of 5k USD over the current full year year then we will see a dividend payment that would project into a share price of 0.031BTC per share.

A question for Vince for the weekly Q and A:

When will VMC start advertising and taking pre-orders for our 55nm-based mining machines and chips.

No impact on spot price.

It's a non-event.

A lot of bitcoiners will know who this guy is but no-one else does. It's just another drugs bust running on from the Silk Road investigation. These events will always happen so long as drugs are illegal. How many drug traffickers or suppliers are found with large sums of FIAT on them? This really should not be seen as BTC related - it's a drugs bust.

I don't know where you get that from. He didn't even mention power supply units in doing the math:

'The Neptune’s product details page did however cite a 30% reduction in watts per GHash. Jupiter’s power consumption was 2.18 Watts per GHash. Reducing this by 30% gives you 1.526 Watts per GHash. Multiplying this by the Neptune’s 3000 GHash (3Terrahash) gave me a power consumption of 4578 Watts.

How I Got This Number:
Jupiter’s Power Consumption (JPC) is 1200 Watts'



EDIT - OK I see what he did above, but if they recomend 1200Watt PSU it must use atleast 80% of that? This means the Neptune will use 80% of his figure which is still close to 4000Watts of power?

EDIT2 - looks like it's around 60% of his figure as a Jupiter draws about 700W. Still a draw of 2700Watts for the Neptune. That's like a three bar fire. The heat from this machine will be immense?

I don't think we are talking about the value of orders, we are talklng about foundry capacity.

1) On the 28nm scale global capacity it will rise by no more than 350% in 2014 - fact. It doesn't matter how much money you have to make orders if the foundries will not take those orders.

2) KnC's order of 20nm tech has been on a strict limited batch for a reason - that most likely is foundry capacity.

3) The world runs on these foundries output - Bitcoin ASIC's are not the only chips fighting for space on these production  lines.

Another worry about the Neptune is the power-draw. This guy thinks it will be over 4500Watts and so too load much for many domestic settings. One answer - to wire it into your electric cooker outlet would not be possible or acceptable for many.

http://coinchomp.com/2014/01/06/the-knc-miner-neptune-should-consume-at-least-4500-watts/


So the point here is ACtM are the only mining industry company with uncertainty over the viability of their product. I think a mass refund request on the KnC Neptune is a real possibility. We don't need that for our 55nm and shortly after our 28nm machines to succeed in the market but if we scooped up some of the KnC 28Million of orders we would be doing well. Even we don't get any of their 28Mill, their Neptunes have sold out and they sold out quickly. The market demand for any machine that will ROI is very very high.

somestranger- don't know about that aspect, aren't they pushed on enmass by machine and soldered in solder baths? I thought it was all machine done?

Great link kleeck:

'The company [TSMC], which commands more than 90 percent of the global 28nm chip market, said earlier this year that 28nm chips would be the biggest contributor to revenue this year, since production capacity and revenue are set to triple on an annual basis.'

So the global production of 28nm will rise by around 330% maximum in 2014. That's a fact.

EDIT - while the TSMC press release makes the future roll out of 20nm look promising for around March 2014, there is yet no guarantee of the chips efficiencies (and certainly not massive efficiencies) over top-end 28nm.

Two points:

KnC are not 'at 20nm'. KnC are working on a 20nm but that ASIC technology is still unproven. There is no guarantee that the reduced die size with limiting non-scalable components will allow for any significant increase in overall efficiencies over top-end 28nm. (Like the ACtM eASIC full custom 28nm). Infact, the increased cost of producing the KnC 20nm chip, plus the inevitable delays in actually designing and achieving a workable 20nm die (extremely difficult) could make KnC's Neptunes unable to ROI. That is a real possibility.

Second point - foundry capacity. Let's see some figures about the ability of the foundries producing bitcoin ASIC's being able to keep up with 100% production increase per month. No matter what their capacity now they are unable to meet that future demand - fact.

UMC currently has a huge capacity for 55nm but their total 28nm capacity seems to be only around 25% above that. So with a huge demand (100% increase per month) for 28nm, 28nm production limits will soon be met.
http://www.umc.com/English/class_300/c.asp

What that says is that very high demand for 28nm could reach a foundry back-log in the near future. That's why chip runs are indeed limited by the foundries - they do not have endless capacity when the world of electronics of all types runs off their production lines. 28nm is in high demand. 55nm is an established tech but with huge infrastructure supporting it and it does not have a 100% increase in market demand per month.

'Yau Kae Sheu, senior director of UMC's 12-inch Specialty Technology Development division, said, "UMC first taped-out customer 55nm SDDI products in late 2012. Achieving 15 million accumulated shipments and mature production yields in just one year is a significant milestone and highlights our engineering and manufacturing strength as a worldwide foundry specialty technology leader. With our 300mm Fab 12A in Tainan, Taiwan and Singapore's 300mm Fab 12i both providing ample capacity support and established economies of scale, we look forward to bringing additional 55nm products to volume production as many new products are scheduled for the design-in stage in early 2014'
http://www.prnewswire.com/news-releases/umc-surpasses-15-million-shipments-for-customer-55nm-sddi-chips-239014911.html

So the addition to our portfolio of a custom, top-end, 55nm that has a very high volume production capacity from UMC could be a very very fortunate - or smart - development for VMC. If our competitors (X-farm mining) can only source 100k chips per quarter while we can source 300k chips per quarter and our chips cost 60% of the cost to fab and run in their life-time than X-farms chips, then we can grow our farm above and beyond the capacity of X-farm to grow theirs.

"UMC first taped-out customer 55nm SDDI products in late 2012. Achieving 15 million accumulated shipments and mature production yields in just one year is a significant milestone and highlights our engineering and manufacturing strength as a worldwide foundry specialty technology leader. With our 300mm Fab 12A in Tainan, Taiwan and Singapore's 300mm Fab 12i both providing ample capacity support and established economies of scale, we look forward to bringing additional 55nm products to volume production as many new products are scheduled for the design-in stage in early 2014."

http://finance.yahoo.com/news/umc-surpasses-15-million-shipments-100000385.html

Well the chip is not yet in production so the costs are not yet known.
We have taped-out. We don't know when that was done and we don't know how close we are to the 'Silicon Process'. So the cost of getting the chip working on a board is yet to be discovered.



http://www.umc.com/english/design/e.asp

I keep miss-reading that as Arsebitcoin.

First off calm down, do you really need to get so excited?
Secondly Ken has done all the calulations to see that commisioning the 55nm chip will make money. The question was about the price-point in the market that the chip would take. Ken was saying he has yet to price the chip for the retail and bulk-buy market. So he is talking about profit margins - not if there is any profit atall.

I know it is hard for a lot of you to keep up with what's going on but please try to stay calm if you don't understand something instead of jumping to conclusions and having a shouting match.

Well it would matter a lot if they had a farm and the Gov started to tax the coin they mined. But seems they don't.

Do KnC mine in Sweden?

Sweden is also considering whether to tax bitcoin miners as businesses, stating only that his agency is considering its position on the matter.


http://www.coindesk.com/sweden-regulate-bitcoin-asset/

And that shareholders is how you get the CEO to engage with you.