[AMC]-The Official Active Mining Cooperative Discussion

[enigmazr]

AMC Accounting For May.

I'm loving the transparency Ken!  Keep it up!

[stereotype]

Ken.
Has https://btct.co been a consideration?

[kslaughter]

Ken.
Has https://btct.co been a consideration?

Yes

[lewicki]

Redacted.

[kslaughter]

AMC Accounting For May.

I think the Credit/Debit columns are reversed.

My accounting is a little rusty, won't be that way for long, but I think in the assets in accounting the debits increase the account if I remember correctly.

[bigdude]

AMC Accounting For May.

I think the Credit/Debit columns are reversed.

No, they are correct.

Asset Account - Debits increase / Credits decrease
Liability Account - Debits decrease / Credits increase

Revenue Account - Debits decrease, / Credits increase
Expense Account - Debits increase / Credits decrease

(accountant checking in )

[kslaughter]

Thanks, I am pretty good too, but a little rusty.

[lewicki]

People funded their BitFunder accounts to buy ASICMINER. There will soon be a correction, and in my opinion people will be looking elsewhere to put their money instead of sending it back to their BTC wallets. Once BFL, AMC, and the likes start taking off, there will be no way for ASICMINER to sustain their returns.

[pneumatic5]

People funded their BitFunder accounts to buy ASICMINER. There will soon be a correction, and in my opinion people will be looking elsewhere to put their money instead of sending it back to their BTC wallets. Once BFL, AMC, and the likes start taking off, there will be no way for ASICMINER to sustain their returns.

The returns will decrease only because of difficulty increase right? But wouldn't ASICMINER still have the highest returns for the foreseeable future?

[Thalum]

With AMC issuing 40mil shares, is there any way that it'll ever see the kinds of dividends that ASICminer is putting out just now? I mean, there would need to be a ton of mining going on, right?

[lewicki]

People funded their BitFunder accounts to buy ASICMINER. There will soon be a correction, and in my opinion people will be looking elsewhere to put their money instead of sending it back to their BTC wallets. Once BFL, AMC, and the likes start taking off, there will be no way for ASICMINER to sustain their returns.

The returns will decrease only because of difficulty increase right? But wouldn't ASICMINER still have the highest returns for the foreseeable future?

The difficulty increase is going to be from other firms making hardware (more choices to buy from), therefore reduced price of hardware. Which means less money to reinvest in new equipment. They have a monopoly at the moment, it won't last forever.

[Mabsark]

People funded their BitFunder accounts to buy ASICMINER. There will soon be a correction, and in my opinion people will be looking elsewhere to put their money instead of sending it back to their BTC wallets. Once BFL, AMC, and the likes start taking off, there will be no way for ASICMINER to sustain their returns.

The returns will decrease only because of difficulty increase right? But wouldn't ASICMINER still have the highest returns for the foreseeable future?

The dividends will decrease due to a number of reasons.

• decreased share of the network hash rate due to the increased share from the competition,
• decreased hardware sales due to needing the hashing power for the mining operation,
• decreased income from hardware sales due to the competition offering better value.

[lewicki]

People funded their BitFunder accounts to buy ASICMINER. There will soon be a correction, and in my opinion people will be looking elsewhere to put their money instead of sending it back to their BTC wallets. Once BFL, AMC, and the likes start taking off, there will be no way for ASICMINER to sustain their returns.

The returns will decrease only because of difficulty increase right? But wouldn't ASICMINER still have the highest returns for the foreseeable future?

The dividends will decrease due to a number of reasons.

• decreased share of the network hash rate due to the increased share from the competition,
• decreased hardware sales due to needing the hashing power for the mining operation,
• decreased income from hardware sales due to the competition offering better value.

+1

But wouldn't ASICMINER still have the highest returns for the foreseeable future?

Let me add by saying: what good are returns when the price starts to fall more than 1.03% per week?

[canuck]

With AMC issuing 40mil shares, is there any way that it'll ever see the kinds of dividends that ASICminer is putting out just now? I mean, there would need to be a ton of mining going on, right?

Please excuse my clumsiness here. I'm on my phone.

ASICminer has 400,000 shares outstanding. AMC will issue up to 100,000,000 shares in total or 250 times as many shares as ASICminer.

Currently, ASIC miner shares are approaching 3 BTC while AMC is hovering around 0.0008 BTC per share or just 1/3,750th the price of one ASICminer share. Taking ONLY these numbers into consideration, AMC is undervalued by a factor of 15 times measured very simplistically against ASICminer.

Now that said, AMC only has the three avalons hashing and everything else is as yet, simply theory. Will AMC manage to build all the machines they desire to build? Will Avalon deliver on the chip orders. Will AMCs technology even work?  Who knows for sure. We can only do the best we can with the information we have and Ken does seem to be getting better at investor relations though it would be nice if he rose above the need he feels sometimes for retaliatory and emotional responses to critics.

[kslaughter]

With AMC issuing 40mil shares, is there any way that it'll ever see the kinds of dividends that ASICminer is putting out just now? I mean, there would need to be a ton of mining going on, right?

Please excuse my clumsiness here. I'm on my phone.

ASICminer has 400,000 shares outstanding. AMC will issue up to 100,000,000 shares in total or 250 times as many shares as ASICminer.

Currently, ASIC miner shares are approaching 3 BTC while AMC is hovering around 0.0008 BTC per share or just 1/3,750th the price of one ASICminer share. Taking ONLY these numbers into consideration, AMC is undervalued by a factor of 15 times measured very simplistically against ASICminer.

Now that said, AMC only has the three avalons hashing and everything else is as yet, simply theory. Will AMC manage to build all the machines they desire to build? Will Avalon deliver on the chip orders. Will AMCs technology even work?  Who knows for sure. We can only do the best we can with the information we have and Ken does seem to be getting better at investor relations though it would be nice if he rose above the need he feels sometimes for retaliatory and emotional responses to critics.

Yes, I am trying and I think I have rose above the retailiatory and emotional responses.  I think you are right, I think it is undervalued by aleast 15 times.

[canuck]

With AMC issuing 40mil shares, is there any way that it'll ever see the kinds of dividends that ASICminer is putting out just now? I mean, there would need to be a ton of mining going on, right?

Please excuse my clumsiness here. I'm on my phone.

ASICminer has 400,000 shares outstanding. AMC will issue up to 100,000,000 shares in total or 250 times as many shares as ASICminer.

Currently, ASIC miner shares are approaching 3 BTC while AMC is hovering around 0.0008 BTC per share or just 1/3,750th the price of one ASICminer share. Taking ONLY these numbers into consideration, AMC is undervalued by a factor of 15 times measured very simplistically against ASICminer.

Now that said, AMC only has the three avalons hashing and everything else is as yet, simply theory. Will AMC manage to build all the machines they desire to build? Will Avalon deliver on the chip orders. Will AMCs technology even work?  Who knows for sure. We can only do the best we can with the information we have and Ken does seem to be getting better at investor relations though it would be nice if he rose above the need he feels sometimes for retaliatory and emotional responses to critics.

Yes, I am trying and I think I have rose above the retailiatory and emotional responses.  I think you are right, I think it is undervalued by aleast 15 times.

Not that your biased or anything Ken. *chuckle *

[kslaughter]

First Week Earning Report

[hf]

ASICminer has 400,000 shares outstanding. AMC will issue up to 100,000,000 shares in total or 250 times as many shares as ASICminer.

Currently, ASIC miner shares are approaching 3 BTC while AMC is hovering around 0.0008 BTC per share or just 1/3,750th the price of one ASICminer share. Taking ONLY these numbers into consideration, AMC is undervalued by a factor of 15 times measured very simplistically against ASICminer.

How is that even remotely relevant ? I could say the same : ASICMINER is undervalued at 3BTC being the biggest miner on the market and delivering the biggest dividends of the market.

[kslaughter]

Asicminer has ~25% of the network hashrate today.  This includes facilities with 100s of kW to power all those systems.

You are right ~25% TODAY!  As soon as we need the facilities we will have no problem housing our equipment in a facility with ample power.  One question are Asicminer facilities underground?

AMC has 3 Avalons generating less than 1/1000 of the network hashrate

Again, your're right, TODAY!  Maybe not so right next week, or next month.

Asicminer is a first mover in building silicon for bitcoin

Yes, you are right again they are at 110nm going to 65nm.  AMC is going to 28nm

AMC will be years behind if they deliver anything at all.  Ken has less competency in the area than BFL does.

AMC has already delivered and I have hired two engineering firms, one for our chip design and one for our board design.

Asicminer holds 100% of the rights to equipment sales

Yes, I guess they do, producing those great 10 GH/s errupter boards.

AMC has no rights to equipment sales if they ever materialize as Ken has gifted them to his wholly owned company for a tiny royalty

Yes, AMC gets 10% and does not have all the cost of manufacturing, all profit and by the way that is twice the normal royalty of 5% for things like this.
Also, AMC gets a number of machines at Manufacturers Cost, that is a really tiny benefit.

Asicminer has earned the trust of the community

Yes, they have and they where called scammers at first.

AMC spams blatantly misleading press releases like a penny stock operator

AMC likes to keep the Investors informed.

[kslaughter]

ASICminer has 400,000 shares outstanding. AMC will issue up to 100,000,000 shares in total or 250 times as many shares as ASICminer.

Currently, ASIC miner shares are approaching 3 BTC while AMC is hovering around 0.0008 BTC per share or just 1/3,750th the price of one ASICminer share. Taking ONLY these numbers into consideration, AMC is undervalued by a factor of 15 times measured very simplistically against ASICminer.

How is that even remotely relevant ? I could say the same : ASICMINER is undervalued at 3BTC being the biggest miner on the market and delivering the biggest dividends of the market.

You can say that, however you didn't even put any facts behind your statement, at least canuck had some reasoning and facts behind his statement.