HashFast customers now have more certainty and a firmer shipping date based on the updated, more accurate schedule.
OTOH, ACTM customers (all five of them) and investors (both of them) still know little to nothing about
1. Klondike status
2. FH chip specs (die size, dies per wafers per batch, etc).
3. FH chip schedule (batch size, timing, etc)
4. PR agent hire (promised last month)
5. balance sheet (promised last month)
6. Batcave status (lease signed? $/sq ft? $/kWhr?)
We know one share of IceDrill is worth 12MH/sec in mid-Nov.
We don't know how many MH/sec a share of ACTM represents, nor when it will be online.
You can redeem 120,000 shares of IceDrill for a 1.2TH Sierra with mid-Nov delivery.
You can't redeem 120,000 shares of ACTM for any amount of ASIC, with or without mid-Nov delivery.
You are indeed the re-hash king but my eyes grow heavy and I can't quite keep my self aw...... Zzzzzzzzzzz My Dearest zumzero, I don't expect you to put down the pom-poms and stop cheerleading long enough to address my six enumerated concerns (Klondike, specs, schedule, PR, balance, Batcave). After all, you wouldn't listen back in August when I told you to read the writing on the wall so there's no reason to expect you to suddenly start now. Remind us again how that's working out for you.  |
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... You have arrived at a contradiction: 1. Cointerra is a month late with their tape-out
2. Cointerra has "the best team for designing Bitcoin mining hardware" Both of these statements cannot be true; one excludes the other. You need to check your premises because one of them is demonstrably false. Hint: it's not Number One.  ... Those two statements are mutually exclusive. You can have the best design in the world, but not have to necessary funding to complete the tape-out. Depends on how broadly or narrowly you interpret the phrase "best team for designing Bitcoin mining hardware." Remember, we were talking about the "best team" not the "best design." Broadly defined, the "best team" would include people responsible for financing the design process. Narrowly defined, the "best team" would only refer to the chip architects. The broader interpretation is more reasonable and thus superior, because it doesn't make sense to refer to three broke but brilliant RTL coders sitting in Mom's basement with no funding as the "best team." Part of (actually the main constraint to, because SHA2 is trivial) being the "best team" is having people on the team who can get the NRE for tape-out and finance wafer production. |
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hashslow is already announcing delays, so give it up already
Excluding the most optimistic shipping date from the range of possible outcomes is not a delay. Anyone familiar with BTC ASICs knows better, expects the unexpected, and accounts for Hofstadter's Law. HashFast customers now have more certainty and a firmer shipping date based on the updated, more accurate schedule. OTOH, ACTM customers (all five of them) and investors (both of them) still know little to nothing about 1. Klondike status 2. FH chip specs (die size, dies per wafers per batch, etc). 3. FH chip schedule (batch size, timing, etc) 4. PR agent hire (promised last month) 5. balance sheet (promised last month) 6. Batcave status (lease signed? $/sq ft? $/kWhr?) We know one share of IceDrill is worth 12MH/sec in mid-Nov. We don't know how many MH/sec a share of ACTM represents, nor when it will be online. You can redeem 120,000 shares of IceDrill for a 1.2TH Sierra with mid-Nov delivery. You can't redeem 120,000 shares of ACTM for any amount of ASIC, with or without mid-Nov delivery. |
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Actually, SHA-2 algorithms are not that difficult to write for hardware, they are very FPGA/ASIC friendly. Any graduate student in Electrical/Electronics Engineering could whip one out in about 3 months or so, I did so back in 2009. The problem that you are going to run into is designing/optimizing for maximum efficiency, and doing so requires additional time and effort. And I believe that Cointerra is 10 times more qualified to do so than I am.
However, I do agree with you that tape-out was expected in September and that did not happen. Now, tape-out might happen towards the end of October, and if it does, there is no way the December delivery is going to happen. Cointerra is going to have about a 65 day window to complete everything and have the hardware at your door step. Not to mention that Quality Assurance (QA) by itself takes a long time for the type of hardware quality that they are aiming for. I would rather have them to be late than rush and lower their standards such as KnCMiner did. No, no, no, I would rather they delay by a couple of months and deliver high quality products.
The problem I see with Cointerra is not with their Engineering skills, they have the best team for designing Bitcoin mining hardware - their problem is KnCMiner. Why, because a lot of people would rather buy a higher priced miner today, than a lower priced one 3 months from now. They also want the ability to use Credit Cards, PayPal, and have refund options. KnCMiner has all of that going for them because the got in the market first and there was no real competition.
Cointerra started late and the pre-order well is running dry, the other manufactures who got in first drained it. They have to balance funding for research and development, and potential customer refund requests. So how do you deal with that without outright refusing refunds such as what Butterfly Labs and HashFast are doing? I do not know, but I believe this is their major problem. Refuse refunds, and you alienate a big pool of potential customers.
Please Conterra, just come out and say that you are going to be late for December delivery because you cannot rush perfection. Your team will gain more respect and bigger wallets down the road.
I never said SHA-2 algorithms are difficult to write. I did say Cointerra has ZERO EXPERIENCE designing a new chip from scratch and that will cause them problems. SHA-2 is the easy part. Managing the logic/power/heat of a giant chip with dozens of SHA2 cores is the hard part. You have arrived at a contradiction: 1. Cointerra is a month late with their tape-out
2. Cointerra has "the best team for designing Bitcoin mining hardware" Both of these statements cannot be true; one excludes the other. You need to check your premises because one of them is demonstrably false. Hint: it's not Number One. Now that Cointerra has botched their mock tape-out, it's time to stop assuming they are the ASIC Dream Team implied by their slick marketing and website. Logic demands we judge Cointerra based on their demonstrated incompetence, not their fancy hagiographies/pedigrees/titles of nobility/etc. |
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So bALLBREAKER has to wait for his machines. Oh well, you win some you lose some. I always presumed "anticipated late October shipping" marketspeak translates into 'mid November actual shipping.' There was never good reason to assume the most optimistic scenario would be the one to actually occur. Only a noob ACTM investor would not account for Hofstadter's Law when pre-ordering ASICs. In other news, the ACTM/IceDrill ratio has reached a record low, with ACTM crashing to .0006 and IceDrill recovering to .0008. Why is this? Because 120,000 IceDrill shares will get you 1.2TH of world-class HashFast hardware on a newly-solidified mid-Nov delivery schedule, while 120,000 ACTM shares won't get you anything (not even a clue as to if/when ACTM is shipping). |
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bug fixed. trades are executed now. Sorry guys.
Share price will only improve if we add more hashing power. We work on this full time.
tytus, please provide an update on the status of our mine. When do you anticipate completing deployment of the first 100TH? When do you project bringing the second 100TH online and fulfilling the 200TH commitment? Thanks! |
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120,000x0.0008=96BTC
96x190=18,240USD
So this pro paid 11k OVER the retail price per miner?? Jesus wept, and that is something we are supposed to aspire to?
120k shares would have cost around 22kUSD at IPO? So the bottom line is actually he's got himself a 7k miner for 22k.
Now that is the bargain of the century - considering the shares are un-sellable in any quantity now it really was a no-brainer swap.
A 7k miner for 22k. O M F G...
Batch 1 Baby Jets cost $5,600 each (Source: https://bitcointalk.org/index.php?topic=270384.0). A Batch 1 Sierra is worth three B1BJs. 3 x $5,600 = $16,800 Q. How many 1.2TH ASICs can you get for 120,000 shares of ACTM?
A. ZumZero! |
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Wow, this Troll talks some serious crap. If anyone can make sense of anything of his on this page please explain - the truth hurts his little boat that's clear! If he sold his Icedriller shares already, then he did so for a big big loss, look at their chart from IPO - double lolly lol lolz. Each Sierra is 7k and he bought atleast 2 (his use of the plural). So he pulled 14k USD out of icedrill I would say about a month ago, maybe more recently? So from 0.0015 he could only have sold at 0.0010 at best. So he lost 7k USD right there minimum. Anyone else double lol-ing at that? And this guy claims to be an expert - but poke him a bit and his crap investment moves come out, his ego means he just can't keep quiet about them. The micedrill chart doesn't lie, it's never shown a profit from IPO! Well apologies to have mentioned the Troll. The thing about Trolls is they are almost exclusively motivated by their tragic little egos. So the merest mention and they are all over you, like an unpleasant rash. There may be more, but now you know, the guy is clueless. 7k hit - OWCH! This is pretty simple to understand: 1. I have sold zero shares. 2. 120,000 IceDrill shares may be traded for a Batch 1 Sierra. Source: Hi All
As stated, each IceDrill.ASIC share represents 10Mh/s at the start of the mine becoming operational. What we would like to propose is a shares for hardware swap. So, instead of selling their shares into the open market (to clear their positions) investors instead take possession of the hardware itself. For this trade, these shares would be handed back to us and then simply destroyed.
You can clear your IceDrill.ASIC BitFunder position without selling all your shares for cheaper than they are worth.
The hardware for share swap is calculated as follows:
1200 000 Mh (one Sierra unit) / 10 Mh (per share) = 120 000 shares per Sierra unit.
How many shares of ACTM does it take to trade for 1.2TH of 3rd gen ASIC? One million? Two million? More than the cheerleaders own?  |
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I vote to kick "iCEBREAKER" from this topic.
You're just a big, fat troll, "iCEBREAKER".
Go troll somewhere else.
Go start your own "Anti-ActiveMining" forum thread, and troll there.
-Technologov
I was minding my own business when Stuartuk invited me into the discussion. |
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MAJOR lolz,
Mr iceman is balls deep in what must be one of the biggest failures bitfunder has seen.
I can't even work out how far below IPO price in percentage terms icedrill is. But suffice to say anybody who wants out now is totally shafted. With 0.5 btc traded a day you just can't find any buyers to take your shares - its a very pathetic situation for all involved.
Now atleast with ACtM with a daily turnover around 60x that of icedrill there is a nice bit of liquidity and a decent turnover for anyone wanting or needing out. Who knows when you might need some cash - if you are in icedrill forget it, your money is as good as frozen.
And with a lot of (not all by any means) bitfunder holders having got in at original IPO of .0005 and with bitcoin near 200USD I'd say a lot of holders are still up 100% in FIAT value.
Sure icedrill is valued in bitcoin too but you can't realise the increase - there is no depth of buyers to take your shares off you! You couldn't have made a worse choice yet this Troll dude did it! I'm SURE he said he was into Labcoin too. And he has the temerity to suggest we've been done!
You couldn't make this up, it is pretty delusional at best.
Hi Mr Stuartuk! Your concern is touching but misplaced. You and the other remaining cheerleader must be very lonely and forlorn in your battered wife/Stockholm Syndrome bubble of denial. I've seen this movie (where the scumbag coach blatantly abuses his innocent, trusting, naive cheerleaders but they refuse to believe he doesn't love him) on Lifetime before. It never ends well; he always winds up in jail. IceDrill shares (0.0007) are worth more than ACTM (0.0006) because they are exchangeable for real (not EZ Copy) 3rd gen ASICs. Anyway, I turned in most of my Ice.Drill shares in exchange for Batch 1 Sierras. The rest will collect dividends!  ALWAYS BET ON iCE. |
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I've ordered a 2TH/s Terraminer from Cointerra, Inc. It cost roughly 33 BTC, but I'm going to hand this order over to Nasty Mining for a 30 BTC debt to be repaid later. If anyone is against taking over the Cointerra order, please make your concerns known. Otherwise, I will make this order official for Nasty Mining. Also worth noting, NastyFan kroneko expressed an interest to offload his 5 BTC in Nasty Mining debt. I worked a deal with him and used my personal funds to repay this debt for us. I object to gambling on any chip that hasn't actually taped out. Let someone else pay Cointerra's NRE, especially since they seem to be having some trouble with mock tape-out. |
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What actions?
Appropriate actions. |
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We are indeed on track for our delivery times. Mock tape-out was performed and our tape out is very near. The community can expect more information soon as we get closer to production.
Mock tape-out was weeks ago, and still no real one? Hashfast went from mock to actual tape-out in about 9 days. Something went wrong with Cointerra's mock tape-out. Probably because they can't code RTL for shit. This is where amateur Cointerra's lack of experience with designing a new chip from scratch shows. Maybe they'll get it right In Two Weekstm. Building a huge Bitcoin ASIC from the ground up is completely different than buying some IP from ARM, etc. and slapping it onto a SOC for Samsung phones. Let's remember Cointerra made claims about its chip's physical performance in GH/W/sec before getting remotely close to physical simulation. There is no way in Hell Cointerra can make its promised December delivery date on time, any more than they met their "first week of Oct" tape-out target. |
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I admit that i made errors but i dont really dont like how this was done.
If they say there going to deploy 100TH but get delayed and change it to 200TH, it might be a scam. If they have never deploy 200TH and the chips we paid for are on cex.io, it is a scam. How much longer should we hold our breath until taking appropriate actions? |
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Hey Ken Slaughter?!
How are we doing?
How is chip production coming along?
Are we on schedule?
Do you have a time frame estimate of what is going to happen when?
Or are we just left here to our own devices to guess and churn FUD?
Do you even understand what I am writing here?
this is E-N-G-L-I-S-H... do you speak and write in this language?
Well if you do maybe you can use this form of communication to explain very carefully, courteously and respectfully to your shareholders and investors just what exactly is going on in that cave that we've so graciously funded?
or are we BFL at this point?
...which is bitcoinese for SOL
This is very disrespectful. Before posting like this, ask yourself how you would behave if we were all sat around a table looking at each other. If the answer is still the same, then please to not contribute to this forum. I understand people's concerns as they are very valid. This is a difficult transitional time for our American cousins as well as all other investors, but please do remind yourself that YOU made the decision to enter into the world of Bitcoin mining securities. YOU should have done your due dilligence and YOU have chosen to take on the associated risk. I would encourage you to challenge Ken because I agree he needs to find a way to communicate in a more concise and informative way, but do not lower yourself into the pit of shame that our resident FUDsters wallow in. ^This is the lamest, most un-sexy cheerleader fight of all time.^ Still funny though. Let's put you two in a vat of pudding and start making bets on who will start crying first.  |
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No dividends will be paid this week. Instead, we are moving to direct shares. We are moving to direct shares for liquidation. All shareholders on both exchanges are required to participate in order to get your shares registered for liquidation proceeds. Here is the process: Make sure your account has a public withdraw address.On BitFunder, this is most likely already done. On btct.co, please follow the instructions in this post. Make sure you know how to sign a message using Bitcoin.Instructions for signing a message can be found in the same post, under the section "How can you be sure that you are able to proof the ownership of your withdrawal address?" Using your client wallet, sign a message with your public Bitcoin address and save the signature. This will verify that you own the shares. Sign this message: miningco.etfMake sure there are no spaces before/after above or below. Fill out the Direct Share Transfer Form.https://docs.google.com/forms/d/19_46azDkyRbQaD8i2cnZNTPiOvrdP5trpMAiu5jdBeo/viewformIf you have shares on both exchanges, register twice--once for each exchange and the number of shares you have there. Check that your shares are transferred.After I verify the Bitcoin signature of each submission, shares will be tied with that public address and posted in the official share spreadsheet: https://docs.google.com/spreadsheet/ccc?key=0AqLxDN0JzEUNdHNONWVCUFM3ekZFN3ZYd0FycTh3N0EShares in the exchanges will no longer hold any value.Do not buy or sell any shares on the exchange. If you submit a transfer request that does not match the number of shares on the exchange, I will reject it. Going through this transfer process is required to receive liquidation proceeds.Any shares not transferred will not receive anything--these proceeds will be evenly distributed to those that have registered. Start your share transfer process now.If you have any questions, post them in the the BitcoinTalk forum, or send an email. https://bitcointalk.org/index.php?topic=134389.240
Summary: All shareholder fill out this online form: https://docs.google.com/forms/d/19_46azDkyRbQaD8i2cnZNTPiOvrdP5trpMAiu5jdBeo/viewformCheck for your shares here: https://docs.google.com/spreadsheet/ccc?key=0AqLxDN0JzEUNdHNONWVCUFM3ekZFN3ZYd0FycTh3N0E
The above has been posted as "News" items on both exchanges Please reply with questions or comments. I changed my address and filled out the form. Where/when in this process do we transfer the shares to you? edit: Did you buy back any CHEEP SHAERZ tm when it crashed? |
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I think it's too early to judge, I'm sure tytus and dave have been very busy, lets see what they can do.
When will it no longer be "too early?" I don't care if they have to buy the capacity from cex.io, they owe us investors the promised 100TH months ago. |
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How much longer should we give 100TH actually deploy 100TH/200TH before starting a SCAM ACCUSATION thread?
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You're right about ACTM not being near the pole position. But Cointerra hasn't even taped-out yet, and may not have the entire ~$5,000,000 needed for their NRE. By December, HashFast is going to crush the competition and dominate the network. |
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Dear senseless: On behalf of CoinTerra I would like to apologize for the misunderstanding and immediately correct this statement. This answer was supplied by a customer service intern that was not fully briefed on our refund and warranty policies. Will will be contacting you immediately to resolve the issue.
Thank you for bringing this to our attention.
- The CoinTerra Team
tldr: We are fucking broke, but we're attempting to pretend that we're liquid and are able to refund customers should they wish to. The intern wasn't briefed on maintaining a false pretence and hence wrongly told the truth. Exactly ^this^. The old 'blame the stupid intern/customer support rep/new guy' thing is as old as the hills. "Misunderstanding?" Oh please. Cointerra tried to get away with it, but got called out and failed. |
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