Asicminer News 15-30% of Network

[freedomno1]

BE200 Test not like anyone looks at these things
https://www.youtube.com/watch?v=bhOHJ96wBYg

i did look at them dearly ^^

I went from the viewcount your 1 of 77 people ^_^
Good job

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[elasticband]

I have no time for shills or past shills. you made your bed by acting the way you did, now lay in it. jog on back to your spondoolie masters.....

What's your personal view on the costs per GH needed for AM self mining deployment?

I have no time for shills or past shills. you made your bed by acting the way you did, now lay in it. jog on back to your spondoolie masters.....

[freedomno1]

Well from the Salon looks like I can adjust it to 15 to 20% for the Second Half of 2014

For those of you who do not frequent the main ASIC MINER thread, I will post a small update from the salon (conference) that was recently held by ASIC MINER where Fried Cat revealed his identity to the public for the first time:

===========================================================
So to summarize what has been discussed so far from the conference:


- ASIC MINER has a 1T Miner that will be available for sale at some point next week
- The goal for the second half of 2014 is to achieve 15-20% of the Bitcoin network
- The company hopes to resume dividends in the month of August
- Self-mining operation will include BE200 and BE300 series
- In terms of competition, the company is aiming to squeeze many of them into the negative profit territory
- A focus on information dissemination from the sales team going forward (better public relations)



** This could be subject to change or interpretation as more information from the conference flows in. Assuming the majority of the above is accurate I would say this salon was a success for the company and it's shareholders. I would like to hear more about the future of Gen4 that was discussed regarding the age of Exahash. Seems there is a lot of good news for current shareholders (Gen3) in here.
==============================================================

[RoadStress]

Well from the Salon looks like I can adjust it to 15 to 20% for the Second Half of 2014

We are back to where we started. 20% out of 160PH=32PH. Unless AM wins the lottery they will not deploy that amount of hashpower this year.

[hdbuck]

Well from the Salon looks like I can adjust it to 15 to 20% for the Second Half of 2014

We are back to where we started. 20% out of 160PH=32PH. Unless AM wins the lottery they will not deploy that amount of hashpower this year.

well at least they didnt pre-odered underperforming & overconsuming delayed group buys from SPT.  

(now i get it why you are so stressed about how or when FC will make some big move - ROI is a bitch ^^)

[RoadStress]

Well from the Salon looks like I can adjust it to 15 to 20% for the Second Half of 2014

We are back to where we started. 20% out of 160PH=32PH. Unless AM wins the lottery they will not deploy that amount of hashpower this year.

well at least they didnt pre-odered underperforming & overconsuming delayed group buys from SPT.  

(now i get it why you are so stressed about how or when FC will make some big move - ROI is a bitch ^^)

First of all there is nothing being delayed. Why spread lies? My July SP30 was shipped by SP-Tech on 30 July. As for all the August orders since it's just 3rd August I don't see how can they be delayed. Nobody complained about any delay so stop spreading lies.

I am not stressed at all about FC. I am just stating my opinion. Actually I'm quite relaxed about the announcement because I know that AM doesn't have 30M$ for their big deployment so there is nothing to worry about.

Please tell me what do you think that is the deployment cost per Gh for AM excluding chips that are already paid.

[elasticband]

 cheaper per GH than you paid   

[JimiQ84]

Well from the Salon looks like I can adjust it to 15 to 20% for the Second Half of 2014

We are back to where we started. 20% out of 160PH=32PH. Unless AM wins the lottery they will not deploy that amount of hashpower this year.

well at least they didnt pre-odered underperforming & overconsuming delayed group buys from SPT.  

(now i get it why you are so stressed about how or when FC will make some big move - ROI is a bitch ^^)

First of all there is nothing being delayed. Why spread lies? My July SP30 was shipped by SP-Tech on 30 July. As for all the August orders since it's just 3rd August I don't see how can they be delayed. Nobody complained about any delay so stop spreading lies.

I am not stressed at all about FC. I am just stating my opinion. Actually I'm quite relaxed about the announcement because I know that AM doesn't have 30M$ for their big deployment so there is nothing to worry about.

Please tell me what do you think that is the deployment cost per Gh for AM excluding chips that are already paid.

Let's say it's $0.5/GH/s as you said before. AM surely sold some more chips since financial report was published. Was it enough to deploy all 32PH/s? Maybe. Maybe not. Friedcat says it was enough. I am gonna trust him for now, he delivered few times before

[davejh]

Well from the Salon looks like I can adjust it to 15 to 20% for the Second Half of 2014

We are back to where we started. 20% out of 160PH=32PH. Unless AM wins the lottery they will not deploy that amount of hashpower this year.

To get 20% of the network you have to add 25% to the existing network, while getting 15% requires adding 17.6%. If we assume only 5% expansion per 2016 blocks from everyone else (which is way below what we're seeing) then by the end of September (mid-way through H2 2014) that puts the rest of the network at close to 28% higher than it is now (5 difficulty changes - one's due pretty soon). That puts everyone else at somewhere a little higher than 180 PH/s. The numbers are approximately 32 (15%) to 45 (20%) PH/s.

The 5% expansion rate seems unreasonably optimistic though. If we assume it's 8% then the baseline network goes up to by almost 47%. That would put the baseline at closer to 206 PH/s. Now to hit 15% of the network we'd need to add just over 36 PH/s, while 20% would now require 52 PH/s.

[xstr8guy]

If I was an AM investor, I'd hope for the best too. Fortunately I am not.

Your average bystander is thinking WTF?!

They don't seem like they are capable of producing competitive, efficient chips. Seriously, this latest chip is about 6 months too late.

[RoadStress]

Let's say it's $0.5/GH/s as you said before. AM surely sold some more chips since financial report was published. Was it enough to deploy all 32PH/s? Maybe. Maybe not. Friedcat says it was enough. I am gonna trust him for now, he delivered few times before

FC just stated in the same self mining announcement that sales aren't so great. AM sold some chips but at a very low profit so they can get mining revenues from the franchise operations. Also don't forget that AM needs money for gen4 development.

At 0.5$/GH/s that 32PH is equal to 16M$ needed for deployment only. Do you think AM gathered 16M$ from chip sales? Personally I don't think so and considering that they need ~3M$-5M$ for gen4 the money just don't seem enough for all the plans. Feel free to correct me, but with numbers and reasons, not with personal attacks.

[hdbuck]

Let's say it's $0.5/GH/s as you said before. AM surely sold some more chips since financial report was published. Was it enough to deploy all 32PH/s? Maybe. Maybe not. Friedcat says it was enough. I am gonna trust him for now, he delivered few times before

FC just stated in the same self mining announcement that sales aren't so great. AM sold some chips but at a very low profit so they can get mining revenues from the franchise operations. Also don't forget that AM needs money for gen4 development.

At 0.5$/GH/s that 32PH is equal to 16M$ needed for deployment only. Do you think AM gathered 16M$ from chip sales? Personally I don't think so and considering that they need ~3M$-5M$ for gen4 the money just don't seem enough for all the plans. Feel free to correct me, but with numbers and reasons, not with personal attacks.

No numbers, the point being we dont know squat about how much he really produced, sold, franchised, etc.. FC knows better and just need time to implement it all. Even rockxie said time was THE critical factor in his latest update - and thats also why i think FC just wont come by here more often to cuddle shareholders until the work is done and everything runs smoothly (whilst being too late for competition to see what hit them). Information will become available when it does. Welcome in Bitcoin's business world.

As opposed to most manufacturers, FC's approach has proven to be lean if not agile. He is constantly adjusting to a very fast moving new industry, dodging several setbacks (gen2, gen3 low?! sales..), and has no time to waste on bitcointalk as he used to, although i would surely enjoy some weekly updates..

But he wont answer questions for which he is not 100% sure. And thats fine for me. Other manufacturers can keep their false promises.

Thus, if he is aiming 15-20% of global hashrate by the end of 2014, i bet he has done the maths himself before saying anything about it.

(And for a skinny 20 y-o chinese genius that was the very first mover in fuck*ng Bitcoin ASIC mining industry, I would tend to trust him on that to..   I mean, the company is litterally named ASICMINER.. Unlike any other greedy manufacturer, FC has done it by the Bitcoin Book so far, IPOed on on a creepy forum under the pseudonymous Friedcat, crowdsourcing its designs.. The guy is one of Bitcoin's freaking gurus (if not Satoshi's very only child ), i surely just cant believe it's all meant to fade away or that it will somehow fail... If AM fails, so does Bitcoin! )

edit: and remember he is one of the very few that hasnt gone with any preorder scheme/scam. That should also account for a little bit more patience from us lucky shareholders/customers.. After all, we're in bitcoin for the long haul aren't we? Well there ya go..

[freedomno1]

https://bitcointalk.org/index.php?topic=721699.0

here are some lines of this meeting.

The main purpose of this meeting is to announce to sell our new products: AM GEN3 official hardwares ,with the most competitive price.

In addition I would like to emphasize that:

*Since it was not a shareholder meeting, FC didnt share any new informations relating to AM stocks/future plans of GEN4 or so. Shareholders please keep following the official thread at bitcointalk.

*We will be more active in future on various offline activities , we will participate and support more international  meetings at Hongkong/EU/USA to promote our products positively.

https://bitcointalk.org/index.php?topic=721699.0

Was checking out the Salon stuff so I'll put it here as well the bittell interview is still pending I believe didn't see it out yet.
And in regards to above think its 15 to 20% in addition to the hash added although that is worth clarifying including present hash or including added hash on top of that to determine network percentages.

The points of ASICMiner official Mine machine's  launch conference
The launch conference's topical subject：Millions of Terabyte Hashrate  Times
 The opportunities and challenges of Bitcoin industry
ASICMiner invite some guests to participate in the launch conference. Here is a list of speakers.
1.The speaker, Gang Wu . The subject,  The prospect of bitcoins wallet
2.The speaker, JinHai Luo. The subject,  Multi signature applicate in the bitcoin industry
3.The speaker, LinKe Yang.The subject, Under the Millions of Terabyte Hashrate  Times, BTCC（Bitcoin China） and bitcoin industry
4.The speaker, Friedcat. The subject, Millions of Terabyte Hashrate  Times.
5.The speaker, ShiLiang Huang. The subject,  Introduction ASICMiner sales team and the offical Mine machine situation.
6.Q&A
7.The speaker, Yuan Zhong. The subject,  Find the middle forces under the Millions of Terabyte Hashrate  Times.
7.The speaker, Chang Liu. The subject, Introduction The Bitcoiner venture fund.
8.The speaker, GuoPan Li. The subject,  Bitcoin environmental analysis.

The points of Friedcat's subject.
1.How the miners make to profit under the hashrate growth conditions.
2.Introduce the chip AM BE200
3.Introduce the chip AM BE300
4.Introduce the chip AM BE（X）
5.Seek cooperation with others, include join in mining cooperation, trade hashrate
6.Hiring.

The points of  Introduction ASICMiner sales team and the offical Mine machine situation.
1.The sales plan——Direct marketing (MOQ>10)and agency.
2.The sales policy——In stock, No presale, The first payment and then shipped.
3.How to become an agent——first, You apply, then we examine, third, siging the contract, last, cooperation.
4.The warranty principle——72 hours can change. 90 days' warrenty. 180 days' original cost of repair. Big orders provide hashrate redundancy.
5.Online marketing——official website, Weibo, Twitter, official's Bitcointalk post.
6.The model mine farm——in ShenZhen JiangSu and BeiJing.
7.Starting price——RMB3XXX， hashrate>1T.
8. Upcoming.

Other AM Related Stuff include Garden running out of chips/miners and needing to order more and rockxies speech which was already mentioned.

Hello everyone,

Our stock all sold out for this week. There will be another batch come on Friday.  

So that's good news for AM dividends bitgarden units selling out == time for another new batch.

Rockxies Speech
https://bitcointalk.org/index.php?topic=632947.msg8159697#msg8159697

@ Roadstress guess this is the closest I can get on this

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.

ASICMiner mining address
https://blockchain.info/address/1HtUGfbDcMzTeHWx2Dbgnhc6kYnj1Hp24i

In historical terms
Total Received   $ 81,279,481.63 USD Using Blockchain at that conversion rate

81,279,481.63/400,000 Shares = $203.198704085/Share USD
$203.198704085/Share USD * 236,038 Shares = $47,962,615.71

But that is a historical gross income I am not sure how much remains after all their development costs /Conversion rates
But this is just from the mining side not including franchising retail sales and other revenue streams that they might have.

Anyways AM/Bitfountain has cash they are still sitting on Nearly 50,000 Bitcoins I presume the remainder is the capital they converted for business operations and the sort.
https://docs.google.com/spreadsheet/ccc?key=0AtqphFCP56ordGVCakJxSU90MlB4MlBkZENya25pS2c#gid=9
https://blockchain.info/address/1Lu6j7umY8qVqvZzdojDBhHBAAyfcDUfGE 0 BTC (94415 Shares)
https://blockchain.info/address/15h6A2a3D31vRviBDdSpvhLtYJq3aePhdW 36,636.85533247 BTC (94415 Shares)
https://blockchain.info/address/1BnkEt2ceoVhnQVrqeAzigcroQ6MVyxFey 10,428.67775014 BTC (47208 Shares)

Total Bitcoins = 47065.53283387 BTC = 236,038 Shares

2/3 Bitcoin addresses kept most of the balance in their address the other 1 moved it around but not sure what the other addresses go to so that's as far as that analysis goes.

[RoadStress]

In historical terms
Total Received   $ 81,279,481.63 USD Using Blockchain at that conversion rate

81,279,481.63/400,000 Shares = $203.198704085/Share USD
$203.198704085/Share USD * 236,038 Shares = $47,962,615.71

But that is a historical gross income I am not sure how much remains after all their development costs /Conversion rates

Let's talk with numbers out of the latest financial statement, not with historical terms with one single exchange rate.

[Swordsoffreedom]

Let's talk with numbers out of the latest financial statement, not with historical terms with one single exchange rate.

Here's the last one for speculating on a lot happens in three months before all the news so May 28 ---> August 5th almost a quarter missing.

Update

Financials
Balance sheet in May 27, 2014:
https://docs.google.com/spreadsheets/d/12wJMe3A6Ie8ris86m2OJ_1vucurdcVtM3fDkNCjKIRI/edit?usp=sharing

Cash flow from Feb 28, 2014 to May 27, 2014:
https://docs.google.com/spreadsheets/d/1phCAhMR-9_AaRXKICfN_M7gw4rI1hsOtRD_6PElmLOM/edit?usp=sharing

Comments about Recent News & Concerns
Policy: The bank deposits and third-party payment systems for Bitcoin exchanges in China are all closed. Workarounds exist (like buying physical cards with deposit code) but the real trading volume is severely affected.

Conversion: We have OTC conversion channels to trade USD for Bitcoins in Hong Kong.

[freedomno1]

Let's talk with numbers out of the latest financial statement, not with historical terms with one single exchange rate.

Those are held Bitcoins roadstress they still have access to them as far as I know.
That said your right best work from the financial statements and figure it out from there.