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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914701 times)
greenbtc
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July 23, 2013, 08:50:17 PM
 #10341

Update

Financial Status

Mining Income: 102,041.82BTC
Blade Sales Income: 29,594.75BTC
USB Sales Income: 37,524.00BTC
Total: 169,520.57BTC

Device and Infrastructure Expense: 397,800.00$ + 4,909,930.00¥
Electricity Expense: 729,542.05¥
Labor Expense: 327,081.00¥
Logistics Expense: 132,184.90¥
Deposits: 117,506.01¥
Total: 397,800.00$+6,216,243.96¥

Balance Sheet: https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdEthNEpIWWxpcW90RFBQOFZ6aFlxT0E&usp=sharing

Hardware Franchising

This is a new business model option besides self-mining and hardware sales. We will rent the excessive hashing power to financial and technical capable people, accepting full deposits at the market price, shipping the devices and collecting a certain PPS rate based on the theoretical hashrate. The PPS rate, the dividing of cost coverage, as well as warranty/exit strategy are being discussed in detail and executed as small-scale experiments.

This model is similar to hardware sales in the aspect that we do not have in control on how the users make use of our devices, therefore has more decentralization in spirit. And like with self-mining, it aims at settings in scale, enjoying the reduction of NRE cost and operating cost overall, and reducing potential marketing/advertisement/customer service costs.

Project Timeline

August-September: Deploy/sell all hashpower arriving in July and early August.
September-November: Deploy/sell the hashpower ordered at early July.
November-December: Experimental products of 2nd-gen chips and modular large-scale deployment solutions.

Love what you've built and how you've built it! Transparency and true customer service can get you a long way Smiley
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July 23, 2013, 09:21:10 PM
Last edit: July 23, 2013, 09:37:17 PM by freedomno1
 #10342

Update

Financial Status

Mining Income: 102,041.82BTC
Blade Sales Income: 29,594.75BTC
USB Sales Income: 37,524.00BTC
Total: 169,520.57BTC

Device and Infrastructure Expense: 397,800.00$ + 4,909,930.00¥
Electricity Expense: 729,542.05¥
Labor Expense: 327,081.00¥
Logistics Expense: 132,184.90¥
Deposits: 117,506.01¥
Total: 397,800.00$+6,216,243.96¥

Balance Sheet: https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdEthNEpIWWxpcW90RFBQOFZ6aFlxT0E&usp=sharing

Hardware Franchising

This is a new business model option besides self-mining and hardware sales. We will rent the excessive hashing power to financial and technical capable people, accepting full deposits at the market price, shipping the devices and collecting a certain PPS rate based on the theoretical hashrate. The PPS rate, the dividing of cost coverage, as well as warranty/exit strategy are being discussed in detail and executed as small-scale experiments.

This model is similar to hardware sales in the aspect that we do not have in control on how the users make use of our devices, therefore has more decentralization in spirit. And like with self-mining, it aims at settings in scale, enjoying the reduction of NRE cost and operating cost overall, and reducing potential marketing/advertisement/customer service costs.

Project Timeline

August-September: Deploy/sell all hashpower arriving in July and early August.
September-November: Deploy/sell the hashpower ordered at early July.
November-December: Experimental products of 2nd-gen chips and modular large-scale deployment solutions.

Long live Friedcat and his team!!!!!!
As a Finance Person this is a lot better than nothing Smiley
Gets a bit tricky when converting the bitcoins to Fiat with the exchange rates to determine production costs but that's for a different financial report. And with the cash on hand not a big issue.
Totals matter here Smiley
Thanks for the great data.
Keep up the great work and it will be interesting to see how Hardware Franchising works.
Fb updated
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July 23, 2013, 10:17:44 PM
 #10343

Love it!  I especially love how the renting of equipment translates to additional money for ASICMINER without centralizing the network, AND, when the rental is expired, the equipment can still be sold...

Friedcat is as brilliant as you all made me believe him to be.
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July 23, 2013, 11:24:15 PM
Last edit: July 24, 2013, 10:15:56 AM by SmiGueL
 #10344

Nice update friedcat! Smiley

I've just created a real-time updating mining income + hashrate chart based on Runeks's data which compares the current week with the previous month:






Didn't check if the chart is 100% correct, so if something is wrong please PM me and don't spam the thread Wink

*I REALLY need some sleep now Cheesy

Asicminer Hashrate Charts @ www.asicminercharts.com

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Addz
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July 24, 2013, 12:15:29 AM
 #10345

Would Friedcat consider approaching some of the smaller mining pools directly with the franchising deals? 

For instance offering machines in that fashion to the likes of ozcoin, deepbit etc. and other pools in the 1-5% of network size.  I imagine these operations are in a good position to be able to bring that kind of hardware online and run it, since they are large enough to handle the hardware and small enough that they are able to scale up.
cryptograd
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July 24, 2013, 12:16:37 AM
 #10346

Update

Financial Status

Mining Income: 102,041.82BTC
Blade Sales Income: 29,594.75BTC
USB Sales Income: 37,524.00BTC
Total: 169,520.57BTC

Device and Infrastructure Expense: 397,800.00$ + 4,909,930.00¥
Electricity Expense: 729,542.05¥
Labor Expense: 327,081.00¥
Logistics Expense: 132,184.90¥
Deposits: 117,506.01¥
Total: 397,800.00$+6,216,243.96¥

Balance Sheet: https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdEthNEpIWWxpcW90RFBQOFZ6aFlxT0E&usp=sharing

Hardware Franchising

This is a new business model option besides self-mining and hardware sales. We will rent the excessive hashing power to financial and technical capable people, accepting full deposits at the market price, shipping the devices and collecting a certain PPS rate based on the theoretical hashrate. The PPS rate, the dividing of cost coverage, as well as warranty/exit strategy are being discussed in detail and executed as small-scale experiments.

This model is similar to hardware sales in the aspect that we do not have in control on how the users make use of our devices, therefore has more decentralization in spirit. And like with self-mining, it aims at settings in scale, enjoying the reduction of NRE cost and operating cost overall, and reducing potential marketing/advertisement/customer service costs.

Project Timeline

August-September: Deploy/sell all hashpower arriving in July and early August.
September-November: Deploy/sell the hashpower ordered at early July.
November-December: Experimental products of 2nd-gen chips and modular large-scale deployment solutions.

We look forward to working with you.

If you have any can you please post minimum technical team requirements to join your PPS hash network, or where to contact you to begin at once.

Liked something I said ->17ry6rrknqmQ2S1NRArzdrNMmG2Zk449AE
Most important bitcointalk post in history
https://bitcointalk.org/index.php?topic=120184.msg1381739#msg1381739
JaredR26
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July 24, 2013, 02:02:00 AM
 #10347

Would Friedcat consider approaching some of the smaller mining pools directly with the franchising deals? 

For instance offering machines in that fashion to the likes of ozcoin, deepbit etc. and other pools in the 1-5% of network size.  I imagine these operations are in a good position to be able to bring that kind of hardware online and run it, since they are large enough to handle the hardware and small enough that they are able to scale up.

I think you misunderstand what the pools do.  They aren't mining(or generally not very much), they are providing an interface to pool the mining of other people together.

Mining at asicminer scale is a big job with lots of problems and issues.
VeeMiner
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July 24, 2013, 06:38:03 AM
 #10348

Would Friedcat consider approaching some of the smaller mining pools directly with the franchising deals?  

For instance offering machines in that fashion to the likes of ozcoin, deepbit etc. and other pools in the 1-5% of network size.  I imagine these operations are in a good position to be able to bring that kind of hardware online and run it, since they are large enough to handle the hardware and small enough that they are able to scale up.

I think you misunderstand what the pools do.  They aren't mining(or generally not very much), they are providing an interface to pool the mining of other people together.

Mining at asicminer scale is a big job with lots of problems and issues.

I concur, this is meant for medium-large mining coops and companies, not pools. I also don't think that friedcat needs to approach the potential customers, it's more likely that they will contact him directly once this option becomes widely known.

anyway thanks for the balance sheet and news, you rock friedcat!
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July 24, 2013, 11:01:57 AM
 #10349

unconfirmed news:
The USB stick miner will be charged at 0.6BTC.

Tip:17YxKtDNYWjkhPYTKieh4xSGuyAfL4kJ5o
yuchuanzhen
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July 24, 2013, 11:05:23 AM
 #10350

unconfirmed news:
The USB stick miner will be charged at 0.6BTC.
Also,if you bought a stick before,you can buy a new one at 0.1BTC.

Tip:17YxKtDNYWjkhPYTKieh4xSGuyAfL4kJ5o
empoweoqwj
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July 24, 2013, 11:41:18 AM
 #10351

unconfirmed news:
The USB stick miner will be charged at 0.6BTC.

I feel so out of the news loop, but many thanks for trying to keep us in the loop  Smiley

Which USB stick miner are you referring to? The one currently being retailed for 1BTC? Is this a price drop announcement?
matt_boyd
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July 24, 2013, 12:32:59 PM
 #10352

Anyone think that dividends will be over 0.025? Roll Eyes
robix
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July 24, 2013, 12:35:40 PM
 #10353

Anyone think that dividends will be over 0.025? Roll Eyes
No clue at all.
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July 24, 2013, 12:42:36 PM
Last edit: July 24, 2013, 03:17:05 PM by SmiGueL
 #10354

Anyone think that dividends will be over 0.025? Roll Eyes

Current mining income: ~4700BTC (wallet)
Sales income: 3100BTC (previous used addresses)

And 7800BTC --> 0.0195BTC/share + extra sales of 0.00 - 0.05 (He always uses some 'hidden' addresses Tongue)



But according to friedcat's DOCS document,
it CAN be possible that the total of 10,112.72BTC is the total of mining+sales this week, and that would mean at least 0.025 BTC/share. Wink
*However it seems likely that a part of that will be hold to pay for upcoming expenses. Smiley

Asicminer Hashrate Charts @ www.asicminercharts.com

Donations BTC: 1SmiGSGWXzD5aZhmw3jyfpBFCgiki45MT
matt_boyd
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July 24, 2013, 12:45:39 PM
 #10355

Anyone think that dividends will be over 0.025? Roll Eyes

Current mining income: ~4700BTC (wallet)
Sales income: 3100BTC (previous used addresses)

And 7800BTC--> 0.0195BTC/share + extra sales of 0.00 - 0.05 (He always uses some 'hidden' addresses Tongue)



But according to friedcat's DOCS document.
it CAN be possible that the total of 10,112.72BTC is the total of mining+sales this week, and that would mean at least 0.025 BTC/share Wink
*However I can image a part of that will be hold to pay for upcoming expenses Smiley

As always, SmiGueL with your wise words! You got this down to a T Wink

Thanks for the analysis and I hope everyone is happy with the upcoming dividends, regardless.
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July 24, 2013, 12:47:04 PM
 #10356

unconfirmed news:
The USB stick miner will be charged at 0.6BTC.

I feel so out of the news loop, but many thanks for trying to keep us in the loop  Smiley

Which USB stick miner are you referring to? The one currently being retailed for 1BTC? Is this a price drop announcement?

I understood it is a price drop announcement.
And the second stick for 0.1 if you buy previously is awesome idea: it will create customer loyalty, also to buy blades or future AM hardware, as they can get (maybe) a kind of compensation later. The fact that a hardware might be worthy or not, therefore, is not purely based on difficulty increase speculation, as far as I know this is the first time.

Given the recent volume of 1BTC stick sold, a drop to 0.6 soon will probably mean huge sells volume.

If it's confirmed, this would be very good news for me.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
VolanicEruptor
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July 24, 2013, 01:22:22 PM
 #10357

Hopefully the 2nd stick for 0.1BTC will be valid for people who are buying through a distributor, such as wtcr.ca
I can see them trying to take that extra margin for themselves..
prove me wrong, teek.. Don't make me rent an international mailbox..

jimmy3dita
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July 24, 2013, 01:39:15 PM
 #10358

unconfirmed news:
The USB stick miner will be charged at 0.6BTC.

source please

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binaryFate
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July 24, 2013, 01:44:03 PM
 #10359

unconfirmed news:
The USB stick miner will be charged at 0.6BTC.

source please
So far, yuchuanzhen was always right on every news he has shared with us.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
yuchuanzhen
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July 24, 2013, 01:47:15 PM
 #10360

unconfirmed news:
The USB stick miner will be charged at 0.6BTC.
source please
here: http://ttbit.sinaapp.com/t/50
and here: https://bitcointalk.org/index.php?topic=261523.0

So far, yuchuanzhen was always right on every news he has shared with us.
Thanks for the trust.But I can't be 100% right.

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