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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914546 times)
kokojie
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July 27, 2013, 11:08:40 PM
 #10501

Friedcat should really hire some major pool operator, as a paid consultant, to help him figure out the problem with not including transactions.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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klondike_bar
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July 27, 2013, 11:15:39 PM
 #10502

Price cut of usb miners is official: https://www.btcguild.com/index.php?page=store

Is it USA-only? I'm in canada and would love to order at least 3-5 of them!

24" PCI-E cables with 16AWG wires and stripped ends - great for server PSU mods, best prices https://bitcointalk.org/index.php?topic=563461
No longer a wannabe - now an ASIC owner!
Jere.Jones
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July 28, 2013, 12:08:58 AM
 #10503

Price cut of usb miners is official: https://www.btcguild.com/index.php?page=store
And they're gone...
SmiGueL
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July 28, 2013, 01:11:43 AM
 #10504

I'm a tiny bit displeased by the fact, that AM doesn't have love for the international anymore.. ;(

Seems that BTCGuild is gonna ship International in a few days! Smiley

"International Sales Update:
Starting August 2, international orders will become available."
(Source)

Would be aaawesome if they decide to add the blades! Shocked Grin

Asicminer Hashrate Charts @ www.asicminercharts.com

Donations BTC: 1SmiGSGWXzD5aZhmw3jyfpBFCgiki45MT
gramma
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July 28, 2013, 05:53:35 AM
 #10505


Of course.  Oh well.  It's hit my sweet spot for a toy, so ordered one. Looks like I'm far from being the only one. Good news for us!

BTC: 1MrNRPo7p8DEyxn87c9BCGwrbatBQeCHc1
empoweoqwj
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July 28, 2013, 05:53:47 AM
 #10506

I'm a tiny bit displeased by the fact, that AM doesn't have love for the international anymore.. ;(

Seems that BTCGuild is gonna ship International in a few days! Smiley

"International Sales Update:
Starting August 2, international orders will become available."
(Source)

Would be aaawesome if they decide to add the blades! Shocked Grin

I can't take too much good news in one day. Gives me palpitations. Let's leave the blades news a bit. Regular good news stream  Smiley
elasticband
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July 28, 2013, 05:57:10 AM
 #10507

how do people who originally bought sticks from Friedcat at 1.99BTC each take advantage of the coupon discount system?
lophie
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July 28, 2013, 06:44:09 AM
 #10508

how do people who originally bought sticks from Friedcat at 1.99BTC each take advantage of the coupon discount system?

In cryptographic identities we believe. The way of the true Bitcoiners.

Need I say more?

Will take me a while to climb up again, But where is a will, there is a way...
chriswilmer
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July 28, 2013, 07:07:01 AM
 #10509

Well it is also a problem for people sending transactions.  They have to wait longer for an initial transaction confirmation because ASICminer is passing those transactions on to the next miner to find a block.

Someone pointed out it also leads to more orphaned blocks for ASICminer, although I think this doesn't happen too often.
elasticband
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July 28, 2013, 07:23:11 AM
 #10510

how do people who originally bought sticks from Friedcat at 1.99BTC each take advantage of the coupon discount system?

In cryptographic identities we believe. The way of the true Bitcoiners.

Need I say more?

cool, will wait and see Smiley
keeron
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July 28, 2013, 07:36:26 AM
 #10511

All these price cut confirmations (and massive jumps on group buy/btcguild orders) is giving me a good indication of our weekly dividend...

Can't wait for those blade sales to be official! Bring on the basics, BFL/Avalon. Though at this point might as well buy the hardware from asicminer and fulfill your preorders :-)
notme
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July 28, 2013, 07:37:25 AM
 #10512

Well it is also a problem for people sending transactions.  They have to wait longer for an initial transaction confirmation because ASICminer is passing those transactions on to the next miner to find a block.

Someone pointed out it also leads to more orphaned blocks for ASICminer, although I think this doesn't happen too often.

ASICMiner has a higher percentage of orphans than any pool.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
SimonL
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July 28, 2013, 09:02:14 AM
 #10513

What are the conditions for a buyback of ASICminer
Here are the only conditions:
Quote
If we haven't raised enough money to tape out before August. 28, 2012, we will return 100.5% of the total raised funds to investors of ASICMINER. The 0.5% is for compensating the GLBSE fee.
That's it. Question answered! Grin

So now 2012 has passed...
each ASICMINER share always owns 1/400000 of the company.
...Friedcat's contract with us isn't for life, it's for eternity.
I'm ok with that!
No issues here ^_^
We will grow old together haha

I'm curious about this no buyback clause situation. Does that mean that even if say, a huge company is interested in buying the entirety of ASICMINER's operations that the company controlling ASICMINER, Bitfountain, will not be able to sell, even if the offer were incredibly high for each share? Would this mean the company offering to buy back the shares would need to consult and negotiate with every single holder to buy out all the shares? Or would it simply mean that the majority holding of Bitfountain's shares would shift owners and the new owners would be obligated to continue serving the rest of the shareholders according to the initial IPO conditions?

Pardon me if I sound a little naive, but is this a good or a bad thing?
empoweoqwj
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July 28, 2013, 09:33:30 AM
 #10514

What are the conditions for a buyback of ASICminer
Here are the only conditions:
Quote
If we haven't raised enough money to tape out before August. 28, 2012, we will return 100.5% of the total raised funds to investors of ASICMINER. The 0.5% is for compensating the GLBSE fee.
That's it. Question answered! Grin

So now 2012 has passed...
each ASICMINER share always owns 1/400000 of the company.
...Friedcat's contract with us isn't for life, it's for eternity.
I'm ok with that!
No issues here ^_^
We will grow old together haha

I'm curious about this no buyback clause situation. Does that mean that even if say, a huge company is interested in buying the entirety of ASICMINER's operations that the company controlling ASICMINER, Bitfountain, will not be able to sell, even if the offer were incredibly high for each share? Would this mean the company offering to buy back the shares would need to consult and negotiate with every single holder to buy out all the shares? Or would it simply mean that the majority holding of Bitfountain's shares would shift owners and the new owners would be obligated to continue serving the rest of the shareholders according to the initial IPO conditions?

Pardon me if I sound a little naive, but is this a good or a bad thing?

I think the whole "can ASICMINER ever be sold and under what conditions" is an incredibly high-priority question to ask friedcat. We all need clarification on this from the cat's mouth
SebastianJu
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July 28, 2013, 09:37:33 AM
 #10515

Are you familiar with the phrase "past performance does not guarantee future return"? The important word here is "guarantee". The observation that Bitcoin did well in the past does not serve as a reasonable argument for why it will continue to increase in value in the future.

It looks like you missed the point. When i found bitcoins 2 years ago it looked to me like all was done already. It looked to me the same way like you look on it today.
Of course there is NO guarantee that it goes forward the same way. So if you believe that the current status is the end of the line then its ok to me.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
bobboooiie
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July 28, 2013, 09:44:29 AM
 #10516

What are the conditions for a buyback of ASICminer
Here are the only conditions:
Quote
If we haven't raised enough money to tape out before August. 28, 2012, we will return 100.5% of the total raised funds to investors of ASICMINER. The 0.5% is for compensating the GLBSE fee.
That's it. Question answered! Grin

So now 2012 has passed...
each ASICMINER share always owns 1/400000 of the company.
...Friedcat's contract with us isn't for life, it's for eternity.
I'm ok with that!
No issues here ^_^
We will grow old together haha

I'm curious about this no buyback clause situation. Does that mean that even if say, a huge company is interested in buying the entirety of ASICMINER's operations that the company controlling ASICMINER, Bitfountain, will not be able to sell, even if the offer were incredibly high for each share? Would this mean the company offering to buy back the shares would need to consult and negotiate with every single holder to buy out all the shares? Or would it simply mean that the majority holding of Bitfountain's shares would shift owners and the new owners would be obligated to continue serving the rest of the shareholders according to the initial IPO conditions?

Pardon me if I sound a little naive, but is this a good or a bad thing?

I think the whole "can ASICMINER ever be sold and under what conditions" is an incredibly high-priority question to ask friedcat. We all need clarification on this from the cat's mouth

I think that question is pretty self explanatory. Who do you think would buy asicminer as a whole ? If you think about what AM is, it only has good value for some lets say 1-2 years (and that is pretty optimistic), after that there will be competitors with better and more efficient ASICs presumably. For what asicminer would be worth in BTCs that would be a huge gamble or even reckless investment to make. The only real possibility in my eyes is that BTC would explode to 1k+/BTC, some big mainstream company would take interest but even after that would such a company need anything from "underground Chinese" operation ?
JordanL
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July 28, 2013, 09:59:08 AM
 #10517

What are the conditions for a buyback of ASICminer
Here are the only conditions:
Quote
If we haven't raised enough money to tape out before August. 28, 2012, we will return 100.5% of the total raised funds to investors of ASICMINER. The 0.5% is for compensating the GLBSE fee.
That's it. Question answered! Grin

So now 2012 has passed...
each ASICMINER share always owns 1/400000 of the company.
...Friedcat's contract with us isn't for life, it's for eternity.
I'm ok with that!
No issues here ^_^
We will grow old together haha

I'm curious about this no buyback clause situation. Does that mean that even if say, a huge company is interested in buying the entirety of ASICMINER's operations that the company controlling ASICMINER, Bitfountain, will not be able to sell, even if the offer were incredibly high for each share? Would this mean the company offering to buy back the shares would need to consult and negotiate with every single holder to buy out all the shares? Or would it simply mean that the majority holding of Bitfountain's shares would shift owners and the new owners would be obligated to continue serving the rest of the shareholders according to the initial IPO conditions?

Pardon me if I sound a little naive, but is this a good or a bad thing?

I think the whole "can ASICMINER ever be sold and under what conditions" is an incredibly high-priority question to ask friedcat. We all need clarification on this from the cat's mouth

I think that question is pretty self explanatory. Who do you think would buy asicminer as a whole ? If you think about what AM is, it only has good value for some lets say 1-2 years (and that is pretty optimistic), after that there will be competitors with better and more efficient ASICs presumably. For what asicminer would be worth in BTCs that would be a huge gamble or even reckless investment to make. The only real possibility in my eyes is that BTC would explode to 1k+/BTC, some big mainstream company would take interest but even after that would such a company need anything from "underground Chinese" operation ?

That is one hell of a presumption. ASICMINER is light-years beyond any of the competition, and they are an extremely forward looking company... their next-generation of ASIC chips will likely be coming online before BFL ships half of thier pre-orders from last september.

The likelihood of any of the so-called competitors with their "pre-orders" actually producing real-world hardware that is more efficient than what ASICMINER is able to produce is extremely unlikely, in my humble opinion.

Also, they are not an "underground Chinese operation"... Bitfountain is a legally registered corporation operating legally in the PRC.
SimonL
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July 28, 2013, 10:14:59 AM
 #10518

What are the conditions for a buyback of ASICminer
Here are the only conditions:
Quote
If we haven't raised enough money to tape out before August. 28, 2012, we will return 100.5% of the total raised funds to investors of ASICMINER. The 0.5% is for compensating the GLBSE fee.
That's it. Question answered! Grin

So now 2012 has passed...
each ASICMINER share always owns 1/400000 of the company.
...Friedcat's contract with us isn't for life, it's for eternity.
I'm ok with that!
No issues here ^_^
We will grow old together haha

I'm curious about this no buyback clause situation. Does that mean that even if say, a huge company is interested in buying the entirety of ASICMINER's operations that the company controlling ASICMINER, Bitfountain, will not be able to sell, even if the offer were incredibly high for each share? Would this mean the company offering to buy back the shares would need to consult and negotiate with every single holder to buy out all the shares? Or would it simply mean that the majority holding of Bitfountain's shares would shift owners and the new owners would be obligated to continue serving the rest of the shareholders according to the initial IPO conditions?

Pardon me if I sound a little naive, but is this a good or a bad thing?

I think the whole "can ASICMINER ever be sold and under what conditions" is an incredibly high-priority question to ask friedcat. We all need clarification on this from the cat's mouth

I think that question is pretty self explanatory. Who do you think would buy asicminer as a whole ? If you think about what AM is, it only has good value for some lets say 1-2 years (and that is pretty optimistic), after that there will be competitors with better and more efficient ASICs presumably. For what asicminer would be worth in BTCs that would be a huge gamble or even reckless investment to make. The only real possibility in my eyes is that BTC would explode to 1k+/BTC, some big mainstream company would take interest but even after that would such a company need anything from "underground Chinese" operation ?

As I understand it when big players want to enter the market they buy out promising businesses to get a head start, Microsoft did it, facebook did it, etc. Bitfountain has a huge head start, they are organised, resourceful, have been unflinchingly reliable, and are already planning into the future for projected growth. IMO any CEO looking to break into Bitcoin mining big time as a mining company or even just a producer of mining equipment would give their left nut for all those advantages. VCs are dropping significant amounts of money on startups that can prove themselves in the Bitcoin space. None are looking to start from scratch. Satoshi dice is the first mover in the gambling space with a shareholder base, it got sold for a small fortune. Knowing that, ASICMINER could become a possible target for acquisition for someone with very deep pockets. What I'm curious about is, is Bitfointain's members even slightly interested in such an acquisition. There are no terms for a buyout, nor is there an explicit statement indicating whether Friedcat et al. are even interested in a possible buyout.

All I know about the terms regarding the shares is that there will only ever be 400,000 . Anything regarding forced selling or forced buying is not defined. I honestly believe in Friedcat's willingness to do right by his investors but does this really mean shareholders have absolute control over their assets? If so that's pretty amazing, traditionally there's always some kind of caveat. Smiley



empoweoqwj
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July 28, 2013, 12:59:30 PM
 #10519

What are the conditions for a buyback of ASICminer
Here are the only conditions:
Quote
If we haven't raised enough money to tape out before August. 28, 2012, we will return 100.5% of the total raised funds to investors of ASICMINER. The 0.5% is for compensating the GLBSE fee.
That's it. Question answered! Grin

So now 2012 has passed...
each ASICMINER share always owns 1/400000 of the company.
...Friedcat's contract with us isn't for life, it's for eternity.
I'm ok with that!
No issues here ^_^
We will grow old together haha

I'm curious about this no buyback clause situation. Does that mean that even if say, a huge company is interested in buying the entirety of ASICMINER's operations that the company controlling ASICMINER, Bitfountain, will not be able to sell, even if the offer were incredibly high for each share? Would this mean the company offering to buy back the shares would need to consult and negotiate with every single holder to buy out all the shares? Or would it simply mean that the majority holding of Bitfountain's shares would shift owners and the new owners would be obligated to continue serving the rest of the shareholders according to the initial IPO conditions?

Pardon me if I sound a little naive, but is this a good or a bad thing?

I think the whole "can ASICMINER ever be sold and under what conditions" is an incredibly high-priority question to ask friedcat. We all need clarification on this from the cat's mouth

I think that question is pretty self explanatory. Who do you think would buy asicminer as a whole ? If you think about what AM is, it only has good value for some lets say 1-2 years (and that is pretty optimistic), after that there will be competitors with better and more efficient ASICs presumably. For what asicminer would be worth in BTCs that would be a huge gamble or even reckless investment to make. The only real possibility in my eyes is that BTC would explode to 1k+/BTC, some big mainstream company would take interest but even after that would such a company need anything from "underground Chinese" operation ?

As I understand it when big players want to enter the market they buy out promising businesses to get a head start, Microsoft did it, facebook did it, etc. Bitfountain has a huge head start, they are organised, resourceful, have been unflinchingly reliable, and are already planning into the future for projected growth. IMO any CEO looking to break into Bitcoin mining big time as a mining company or even just a producer of mining equipment would give their left nut for all those advantages. VCs are dropping significant amounts of money on startups that can prove themselves in the Bitcoin space. None are looking to start from scratch. Satoshi dice is the first mover in the gambling space with a shareholder base, it got sold for a small fortune. Knowing that, ASICMINER could become a possible target for acquisition for someone with very deep pockets. What I'm curious about is, is Bitfointain's members even slightly interested in such an acquisition. There are no terms for a buyout, nor is there an explicit statement indicating whether Friedcat et al. are even interested in a possible buyout.

All I know about the terms regarding the shares is that there will only ever be 400,000 . Anything regarding forced selling or forced buying is not defined. I honestly believe in Friedcat's willingness to do right by his investors but does this really mean shareholders have absolute control over their assets? If so that's pretty amazing, traditionally there's always some kind of caveat. Smiley



Exactly, AM are very likely to be a target because they lead their field and VC's are interested in the space, especially if the bitcoin price picks up again. And until friedcat makes a statement to clarify, its as clear as mud what rights / control shareholders have. Clarification please.
Mabsark
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July 28, 2013, 12:59:55 PM
 #10520

What are the conditions for a buyback of ASICminer
Here are the only conditions:
Quote
If we haven't raised enough money to tape out before August. 28, 2012, we will return 100.5% of the total raised funds to investors of ASICMINER. The 0.5% is for compensating the GLBSE fee.
That's it. Question answered! Grin

So now 2012 has passed...
each ASICMINER share always owns 1/400000 of the company.
...Friedcat's contract with us isn't for life, it's for eternity.
I'm ok with that!
No issues here ^_^
We will grow old together haha

I'm curious about this no buyback clause situation. Does that mean that even if say, a huge company is interested in buying the entirety of ASICMINER's operations that the company controlling ASICMINER, Bitfountain, will not be able to sell, even if the offer were incredibly high for each share? Would this mean the company offering to buy back the shares would need to consult and negotiate with every single holder to buy out all the shares? Or would it simply mean that the majority holding of Bitfountain's shares would shift owners and the new owners would be obligated to continue serving the rest of the shareholders according to the initial IPO conditions?

Pardon me if I sound a little naive, but is this a good or a bad thing?

I think the whole "can ASICMINER ever be sold and under what conditions" is an incredibly high-priority question to ask friedcat. We all need clarification on this from the cat's mouth

I think that question is pretty self explanatory. Who do you think would buy asicminer as a whole ? If you think about what AM is, it only has good value for some lets say 1-2 years (and that is pretty optimistic), after that there will be competitors with better and more efficient ASICs presumably. For what asicminer would be worth in BTCs that would be a huge gamble or even reckless investment to make. The only real possibility in my eyes is that BTC would explode to 1k+/BTC, some big mainstream company would take interest but even after that would such a company need anything from "underground Chinese" operation ?

That is one hell of a presumption. ASICMINER is light-years beyond any of the competition, and they are an extremely forward looking company... their next-generation of ASIC chips will likely be coming online before BFL ships half of thier pre-orders from last september.

The likelihood of any of the so-called competitors with their "pre-orders" actually producing real-world hardware that is more efficient than what ASICMINER is able to produce is extremely unlikely, in my humble opinion.

Also, they are not an "underground Chinese operation"... Bitfountain is a legally registered corporation operating legally in the PRC.

AM are only ahead of the competition in delivery time frames. Both Avalon and BFL have shipped or brought online more hashing power and every ASIC developer apart from Avalon are using more efficient ASICs than AM. Also, AM's next gen chips won't be coming online until November. There's no need to spread such misinformation and it just reflects poorly on AM.
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