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Unfortunately the ROI doesn't fit my comfortable range for bitcoin investment (as they are all somewhat risky in nature and history). But I am happy to hear you will launch nonetheless and will definitely bring significant amounts on your volume for ltc on day 1.
p.s. Mobile integration should be top priority in the second tier of your priority list (if you know what I mean). That's where you could really give yourself an edge versus current competitors. Apps and widgets would be pretty much groundbreaking in this nerdy community.
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I am fine with updates not talking about the future, your every move, Q&A. Even the financials, if they are not done time is better spent somewhere else.
But current available information that basically just needs confirmation bugs me a bit. At least if I have to wait another week for it.
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Update
The market finds a way for more liquidity. What we want to emphasis again is that we are neutral towards all shareholders, treating each share and shareholder with no difference. We neither support nor disapprove any non-harmful usage of our shares. And we are not involved in any form of derivatives. We also take no benefits from them besides their positive externality.
We were not great timeline holders so we would like to keep us from giving empty estimated dates. But the next week may possibly see our occupation of more portion in the whole network. Also the second batch is on its way and we are becoming much more prepared to them.
We are fully aware of that we currently owe the board members more active contact and the community the samples. But we have to put effort to the shareholders' side most. We have a lot of plans and ideas to share with the board, and will keep the promise to deliver the trial boards.
Using satoshis to represent share numbers, is both an asking for confirmation and an assurance to us that the transaction will be legal with each week's modification by trading.
Can we at very least know what and where we are hashing? Was kinda hoping for that this week... |
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Just chiming in to say same here with Reaper. Only reason I feel the need to say it is because some people seem unaffected, so it would take long to realize theres a problem.
PS from the looks of it, really looks like an overload.
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miners are going offline at btcguild... more diversification?
back online. My guess is the bathroom light switch is too close to the wall outlet switch. or the breaker trips when doing Mr. Noodles in the microwave. |
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I cant wait for thursday and asking myself if we get new dividends again...  Or maybe it could be Wednesday? About the Company ASICMINER is a GLBSE-listed partner company of the
Bitfountain IC company registered in China. After the fully issuing of
ASICMINER shares, each one of ASICMINER and Bitfountain controls 50% power to
make decisions and shares 50% of the total profits, but the ASICMINER investors
will first get 100% of the total profits until they have their principals paid
back. After the first payment, the dividends will always be paid weekly in each
Wednesday of Beijing time.
Well, although timelines changed a lot due to unforseen events, ASICminer definitely never deviated from the original "contract", so I guess we will know within the next 13hours. |
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Hey guys, I just received official confirmation from friedcat that the ozcoin users are ours. We're really at 6 TH/s only bitfountain? Or also anonymous? Because if the 2th isn't as I miner.... Who the f are they. a large avalon miner Unless you know for sure I'll have to say these 2 things. Bitfountain2 disappeared, and coincidentally, the 2th anonymous output got bumped by a similar amount that the bitfountain slave was hashing. And second, 2th Avalon? |
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Hey guys, I just received official confirmation from friedcat that the ozcoin users are ours. We're really at 6 TH/s only bitfountain? Or also anonymous? Because if the 2th isn't as I miner.... Who the f are they. |
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Power consumption
On our final products our chip consumes 6-8 watts/G on rated depending on temperature and voltage. After reviewing and comparison it turns out that our result is already very good with standard cell based design and 130nm tech.
Wow, it is perfect! These chips can be overclock significantly, if put them in refrigerator? Frequency doubling makes profitable use of the refrigerator IMHO ) Your "IMHO" here implied you made the proper calculations which you did not. Also, you don't use a refrigerator, that is extremely inefficient. You would use something called Phase change cooling. Which is also probably useless for this application. In fact, if they use A/C unit to cool the room, the optimal temp might not even be the usual room temps you are used to. Even 28nm chips wouldn't even remotely benefit from such cooling solutions and cooling has a greater effect on overclockability. And last, I believe overclocking isn't gonna get much attention for now or at all since time focused on deployment seems to be of importance because they will be running late vs the factories which used to be the bottlenecks, reversing that situation is primordial. |
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Thanks friedcat for adressing the speed of deployment. Good to see that you thought this all through. And thanks a lot for the dividends...
I see 0.02354455 BTC per share. If it goes on 52 weeks the win per year would be 1224.3166 percent... In case it goes on this way. In fact competition can come to lower the revenue and friedcat can make more asics online which would higher the revenue. So there is a possibility in both directions of income development.
What i want to say is... websites are sold for the win they make in a year. So when one share here makes a win of 1.2243166 per year than all the sold shares are highly undervalued now. But that was part of the game when selling before the first dividend came in.
I bought my shares for $1567.504 once and now got a payment worth $1010.41. Im very happy... and thats one week only... im very lucky i invested. And even though i didnt like to watch the thread anymore because of the slow speed of deployment im happy that friedcat addressed this and it sounds like he will find a solution.
It won't go on for 52 weeks of the year, not at this rate anyway. According to the initial terms of the IPO posted on page 1 of this thread the dividends will only be this high until the original 0.1 BTC (the principal) has been repaid. After the fully issuing of ASICMINER shares, each one of ASICMINER and Bitfountain controls 50% power to make decisions and shares 50% of the total profits, but the ASICMINER investors will first get 100% of the total profits until they have their principals paid back. After that it will all change as the company will need to fund future operations and further invest in itself in order to grow. So don't expect this every week, not after the first 0.1 BTC per share has been paid out in dividends. I believe this is partially why some people are starting to sell off their shares en masse. Coupled with the lack of a trading platform this is going to cause problems for some investors. People are paying around 0.5 BTC per share right now but once the dividend drops I suspect the price of these shares will normalise. I still believe an alternate trading patform like BTCT would have (and could still be) good enough for the interim. These shares could have been trading for months prior to the migration to the proprietary platform. You forget that we also mine at a much lower % of the network than expected and that we will also make money from sales. And that the shares are currently undervalued even for the You break even first period. "Normalize" is a relative term at this point and sort of holds no bearing. |
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Update
Sorry for the delay in my awakening. Doing management on troubleshooting all day.
This update is sketchy but I will try making contact more frequently than once a week whenever I have time.
Deploying
The speed of current deploying is indeed a concern, especially in this high time that both price and hashrates seem to be on an uptrend. We are as eager as every shareholder else.
The first batch is more or less a prototype for the second one, so the deploying process is also the period we are finding the right solution to large-scale mining farms. In this batch the work is split as follows:
Factories:
Wafer production, Slicing and packaging, PCB production, PCB assembly, Delivery.
Inhouse by us and our partners/employees/temps:
Cabling for the power supply (double to triple digit kW needs special modification of the cable system), Wiring solution, Heat dissipation solution, Subrack and rack assembly, Network and firmware/software solution, System managing.
For the next batch, things will be much more smooth and automatic because the work will be like:
Factories:
Wafer production, Slicing and packaging, PCB production, PCB assembly, Wiring, Subrack and rack assembly.
Inhouse by us and our partners/employees/temps:
Cabling for the power supply, System managing.
The deploying of the next batch will be boosted with their "normal speed" as well, since most of the factories which had been at hibernation during the long vacation are fully functional now. We are also building a team, preparing for the real scaled deploying.
Financials
(This is brief and imprecise, to be replaced by a spreadsheet)
Assets
Fiat balance: ~86,000 rmb
Creditor's rights: 1066.71 btc + interest
Fixed assets: ~1,420,000 rmb
Liabilities
Non urgent private loan: 150,000 rmb + interest, due: July 2013
Non urgent bank loan: 120,000 rmb + interest, due: post 2013
Non urgent private loan: 90,000 rmb, due: July 2013
Platform
Sorry because many shareholders and potential shareholders want more liquidity than what are currently on the auction board. But currently there are only limited manhours allocated on it and safety/bugfree guarantee is more important than in-time online. On the other hand, the time does not allow us to explore and investigate existing platforms for a temporary place. The new platform is kind of innovative and is very interesting in its own right, but the status quo may last for a while.
The market will find a way to increase liquidity by other financial mechanisms, we have no way to stop them. But from our side, we are only responsible for our direct shareholders (who really hold ASICMINER shares, not derivatives of any form).
Power consumption
On our final products our chip consumes 6-8 watts/G on rated depending on temperature and voltage. After reviewing and comparison it turns out that our result is already very good with standard cell based design and 130nm tech.
I thought the platform was developed by a 3rd party? |
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That's a chicken and eggs thing. The more capital they can raise, the more they can grow. The question shouldn't be about the market it should be about the quality of the management and size of the money they want. We're playing VC here. If they have the money and the skills they can branch out from shirts to other things.
First, it's hard to qualify how much skill the current management has. Bitcoin Pride isn't what I'd call a very successful business, as much as you can call an ebay seller a businessman. An avalanche of new products would also lead to decreased attention for each of their products, don't forget about that. The barrier to entry for those isn't high either. Who is in the management? Just one person? I noticed the use of 'we'. Fair question, but just to be practical I am gonna say this. A business is an entity in itself, so a business may refer to itself as "we" even if it has only 1 operator as in "the business and I". |
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what correction? BTC may well not follow Elliot theory because that was based on well founded market relationships that do not apply to BTC. Do not forget BTC is in "another playing field" to conventional economic theory so the old rules may not apply. reg
If you look at the period before the last crash, the climb was of a similar gradient. Actually, it wasn't much of a crash at all, more like a glide. The point is, its happened to the Bitcoin exchange before, so it's not impossible, and I would guess it's more likely than not. You contradict yourself, a crash is not a glide. A crash is when all hell breaks loose and people sell in panic their $ won't be worth much and keep undercutting because the general sentiment is the same and there is no buyer to the point people sell for pennies on the dollar because it appears better than 0pennies on the dollar. A crash renders a currency close to untradable and is usually brought back up by re-evaluation. I am tired of the word crash being used to loosely, saying a bear trend is a crash or a bear day, or week is like saying a Honda Civic is a fast car. |
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Hello Jroc,
The 6870 is pretty close to a 5870 in has rate probably about $90 of hashing capacity by the valuation model I use.
The 6990 is almost twice as fast as the 5870, probably about $180 of hashing capacity.
I'll offer $285 shipped to Baltimore, MD for immediate payment via any legal means. I would prefer Paypal but can also do a litecoin/bitcoin/paypal split... I can provide references from the community on the board that I follow through on payment.
The offer is good if you are serious.
Let me know, fill or kill!!
Planman
ROFL! Epic lowball is epic. Reread what the cards are. In a bitcoin forum you will get what they are worth for mining and as a matter of fact, there are cards worth less than what he offered for better mining. |
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Damn, if its that easy to get money thrown at me, I'll write a 22 word thread with no data/plan/contingency/background/history/xxxx/xxxxx/xxxxx/xxxxx too.
Don't forget to be in the community for years and rack up the post count  Damn here we agree again. Large number of post = smart investment. I wonder how many forum posts Warren Buffet had. |
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Damn, if its that easy to get money thrown at me, I'll write a 22 word thread with no data/plan/contingency/background/history/xxxx/xxxxx/xxxxx/xxxxx too.
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While we are complaining about shady business tactics, how about the "shares held by the company for growth and maintenance" which seems rather odd to me. Why state "100% profits go to dividends" when part of those dividends just go back to the company? The usual way of doing things would be to report a retained earnings of the company as x% of the profit, and the other (100-x)% get dispersed to the shares as dividends, any shares held by the company do not receive dividends. (this is being done by Bakewell, and the two new listings Zipgap and BitcoinPride, on BitFunder)
Start up companies generally need a savings fund for short-mid term that are not immediate expense. So they would just be "fixed percent expenses" that are not yet spent (so in some way somewhat arbitrary). So the end result is the same on the "negative side". But in your scenario, the issuer has full control on that, thus can also manipulate share value at will. You are trying to re-invent the wheel with a square concept. You are almost implying the company shouldn't get dividends... The way shares work is well established in every economy. Stop blaming basic economic facts and methods and blame investors that make bad investments. If everyone cries that an IPO is bad, I'll blame the idiots who bought the shares much more than the retard who wrote the IPO. |
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For a single fan XFX with lifetime warranty (transferable) 6950 you'll get about $125 locally (+/- $10 depending on supply and taxes and stuff). I have 3 dual fan ones currently. I was able to sell one in SoCal for $150 locally because I had the original box/packaging, the card was in excellent shape, and I provided a receipt for warranty transfer.
A fair price to get them sold would be 4 to 5 BTC each shipped.
Nobody will pay 7+ BTC for a used single fan 6950 which only hashed 340 - they would instead buy a new 7870 LE for $210 which hashes almost 500 and would cost about $160 after selling the games.
where can I get a NEW 7870 for < $240? I hope that was sarcasm.... Everywhere. http://ncix.com/search/?categoryid=0&q=7870 |
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