[Update - more pics on Shanghai!] Beijing and Shanghai conference news

[eve]

Just some speculation... I find it incredibly odd that two conferences were held at the same day at two different cities. I can't help but suspect that this is how it went down: asicminer had the whole event planned ahead of time. But once they found out somebody was trying to steal the limelight from them with some push for pre ordering vaporware, they got pissed off. It's like a direct challenge to their undisputed no.1 hashing power in the world.

And so, they reached into their deep R&D pockets to pull out a pcb board design from Avalon chips and slipped it into the show. People who get the hint will understand that while others are taking money for vaporware, asicminer already have a finished product that they aren't even bothered to sell yet.

Wouldn't be surprising... where else will they get 1P hash rate without factoring some contribution from Avalon chips?  Who else would be faster at successfully developing clone asic machines from chips? They probably had a batch 1 reverse engineered ahead of time too.

Great they already Reverse Engineer Avalon Asic Chip.

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[mrb]

Thanks for this info peetah. Were you present at 1 of the 2 press events? Or are you reading about it online?

[Loredo]

From a game theory standpoint, one could say that what ASICMiner is saying is:

"Look, we have hegenomy in bitcoin.  We will extract a tax of X% (currently around 25%) of the bitcoins generated.  We have the technological power -currently- to defend that tax up to around a total network hash rate of 4 PetaHash.  We have and continue to pay much of that out to our shareholders.

It is in our interest to keep mining competitive, beyond our established position.  If current potential providers of technology fail to provide the products in a timely fashion, we will provide products at a cost that the market can accept, but which will provide users with a rate of return that will not be better than that available to our shareholders."

There is a line from an old Robin Williams movie, Club Paradise, spoken after he secretly sees the plans for his island by powerful interests seeking control:

"We've seen the future, Spunky, and we ain't in it."

[peetah]

Thanks for this info peetah. Were you present at 1 of the 2 press events? Or are you reading about it online?

Nothing available online yet. I believe the major forum platforms are being coordinated with the media for a better impact, so maybe some prep work still needs to be done.

I'm fetching info from Weibo (read: twitter) and QQ groups (read: group chat) as well as over the phone by attendees (read: most unbiased source). I'll try to link up coverage when it becomes available.

[peetah]

Regarding fried cat photos:

No 烤猫 (literally translates to 'fried cat')was not there. 小强 (literally translates to 'little strong')  the representative of asicminer China side (equally reknown over there) was there to give his speech on behalf of asicminer.

[romerun]

nevermind I've found his photo on upon google

[TsuyokuNaritai]

From a game theory standpoint, one could say that what ASICMiner is saying is:

"Look, we have hegenomy in bitcoin.  We will extract a tax of X% (currently around 25%) of the bitcoins generated.  We have the technological power -currently- to defend that tax up to around a total network hash rate of 4 PetaHash.  We have and continue to pay much of that out to our shareholders.

It is in our interest to keep mining competitive, beyond our established position.  If current potential providers of technology fail to provide the products in a timely fashion, we will provide products at a cost that the market can accept, but which will provide users with a rate of return that will not be better than that available to our shareholders."

There is a line from an old Robin Williams movie, Club Paradise, spoken after he secretly sees the plans for his island by powerful interests seeking control:

"We've seen the future, Spunky, and we ain't in it."

We welcome newcomers if you'd care to join us.

https://btct.co/security/ASICMINER-PT
https://bitfunder.com/asset/G.ASICMINER-PT

You might want to hurry though before the next dividend, there's a rush expected, and that's not even taking into account interest from the conference or current bitcoin media coverage.

[ecliptic]

Reminder to anyone thinking of investing in anything you don't PHYSICALLY OWN

http://www.investopedia.com/terms/c/counterpartyrisk.asp

[ecliptic]

Also a friendly reminder there is a massive target on the back of Asicminer for any government(s) that wish to take a bite out of bitcoin, especially in china where bitcoin is illegal

[eve]

[TsuyokuNaritai]

Reminder to anyone thinking of investing in anything you don't PHYSICALLY OWN

http://www.investopedia.com/terms/c/counterpartyrisk.asp

Indeed. The pass-through operators are generally highly trusted, but anyone concerned about this should buy direct shares in the auction section, using escrow.

Also a friendly reminder there is a massive target on the back of Asicminer for any government(s) that wish to take a bite out of bitcoin, especially in china where bitcoin is illegal

OFFICIAL RESPONSE FROM FRIEDCAT

2. Cryptocurrencies or mining of virtual currencies are OK. Exchanging them for fiat is less OK but the legal risk is mostly on the exchange operators' side. However as everyone knows, the policy in China is never predictable so there is indeed risks in the future. We have been considering and coping with this uncertainty from the day our chips passed the test and are on the start of building offshore company structures.

Edit: Bitcoin has also been given fairly positive coverage on Chinese state TV:
https://bitcointalk.org/index.php?topic=194937.0
http://www.forexminute.com/bitcoin/china-loves-bitcoins-7723

[mrb]

especially in china where bitcoin is illegal

Bitcoin is not illegal in China. At worst, it is in a grey area of the law.

[dan99]

especially in china where bitcoin is illegal

Bitcoin is not illegal in China. At worst, it is in a grey area of the law.

is not if it is legal or illegal, they can come anytime, do you think they need a search warrant? unpredictable unless
you know the communists officials very well, but over there is based on hierarchy. so it comes to know who you know.

May be Friedcat can help promote the liquidity and usefulness of bitcoin in creating massive e-commerce websites in china
or promote them widely so that they are popular in China as a medium of exchange.

[Bitcoinorama]

Asicminer announces 800 to 1000T for second half of year finally reaching 1P of hash rate. They also announced the development of a lower nm (maybe 55 or 65) which maybe announced over the next week.

The speakers started with Tencent representative laying the basics for bitcoin. Btc123 forum followed up with in depth explanation on blockchain. Asicminer then took the stage on their share price history. Whole event took about five or six hours.

More news coming in...

Ermm..... so they're going to take the entire network? Even with everyone shipped, that's on a scale like we've never seen and will kill all mining.

It is ASICMINER.. they will likely in total produce 1 PH/s of hardware and sell sufficient quantities so as to not risk the chances of a 51% attack.

Yes at prices no one would realistically consider, that in effect equal the total sum of Bitcoins earned for such device over the perceived duration of usage to line the pockets of ASICminer, whilst ensuring they minimise any competition from the products they sell. Sweet deal!

[Bicknellski]

Asicminer announces 800 to 1000T for second half of year finally reaching 1P of hash rate. They also announced the development of a lower nm (maybe 55 or 65) which maybe announced over the next week.

The speakers started with Tencent representative laying the basics for bitcoin. Btc123 forum followed up with in depth explanation on blockchain. Asicminer then took the stage on their share price history. Whole event took about five or six hours.

More news coming in...

Ermm..... so they're going to take the entire network? Even with everyone shipped, that's on a scale like we've never seen and will kill all mining.

It is ASICMINER.. they will likely in total produce 1 PH/s of hardware and sell sufficient quantities so as to not risk the chances of a 51% attack.

Yes at prices no one would realistically consider, that in effect equal the total sum of Bitcoins earned for such device over the perceived duration of usage to line the pockets of ASICminer, whilst ensuring they minimise any competition from the products they sell. Sweet deal!

How very Microsoft / Sun Micro Systems of them or Monsanto... take your pick.

[bigyear]

Po主是张路吧。。。看了你的weibo

[peetah]

不是，我是转发的，有更多信息或照片欢迎分享

Also please use English if you want to contribute!  If not... then I guess I'll have to translate?

[Bitcoinorama]

Asicminer announces 800 to 1000T for second half of year finally reaching 1P of hash rate. They also announced the development of a lower nm (maybe 55 or 65) which maybe announced over the next week.

The speakers started with Tencent representative laying the basics for bitcoin. Btc123 forum followed up with in depth explanation on blockchain. Asicminer then took the stage on their share price history. Whole event took about five or six hours.

More news coming in...

Ermm..... so they're going to take the entire network? Even with everyone shipped, that's on a scale like we've never seen and will kill all mining.

It is ASICMINER.. they will likely in total produce 1 PH/s of hardware and sell sufficient quantities so as to not risk the chances of a 51% attack.

Yes at prices no one would realistically consider, that in effect equal the total sum of Bitcoins earned for such device over the perceived duration of usage to line the pockets of ASICminer, whilst ensuring they minimise any competition from the products they sell. Sweet deal!

How very Microsoft / Sun Micro Systems of them or Monsanto... take your pick.

+1

[Foofighter]

thanks for the infos here to OP!

[Lohoris]

Also a friendly reminder there is a massive target on the back of Asicminer for any government(s) that wish to take a bite out of bitcoin, especially in china where bitcoin is illegal

FUD, lol.