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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914560 times)
Birdy
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August 21, 2013, 07:25:20 PM
 #11481

To give you some perspective from someone who sold his shares (last ones@3.1):
There are some things that worry me about AM right now.
The difficulty jumps are getting really crazy and even AM will have trouble keeping up with this.
The BTC/USD value seems to be on the fence of skyrocketing and people may want to have their BTC liquid (also I prefer to have only a certain amount of "risk capital", when the BTC value increases I want less of them in shares)
This combined with the low information output from friedcat and the low dividends that showed that the drop of hashrate wasn't due renting triggered my wish to sell my shares.

I didn't own a lot of shares, so it wasn't that influencal, but I just wanted to share my view.
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canth
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August 21, 2013, 08:13:54 PM
 #11482

@canth
I'm loving the shakeup. I got back onboard at 3.7 - and after seeing everyone freak out about low divs or other IPOs, I am glad to see the weak hands leave the boat.
In the end, some play it speculatively, others invest.

Yup - I've got no problem with the panic sells (of a few shares). The real price for any share is what you can sell > 0.1% of the shares for, in the case of AM at least 400. I don't remember seeing more than a few shares go for over 5 BTC nor do I think that anyone would sell 400 shares for under 3.5 BTC today. It's funny because this scenario is even more exaggerated on other stocks that don't frequently trade as much volume as AM does. Then people REALLY freak when the price plunges or takes off, even though only a few shares traded hands.

In general, as much as the prices fluctuate and as much as there's a noisy minority of disruptive shareholders posting incendiary crap, the majority of investors seem comfortable to buy and hold. If they didn't, the share volume traded would be much higher. I'm looking forward to seeing what kind of an operation Friedcat (and his competition) will be running in 6-12 months or more.

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August 21, 2013, 08:26:03 PM
 #11483

@canth
I'm loving the shakeup. I got back onboard at 3.7 - and after seeing everyone freak out about low divs or other IPOs, I am glad to see the weak hands leave the boat.
In the end, some play it speculatively, others invest.

Yup - I've got no problem with the panic sells (of a few shares). The real price for any share is what you can sell > 0.1% of the shares for, in the case of AM at least 400. I don't remember seeing more than a few shares go for over 5 BTC nor do I think that anyone would sell 400 shares for under 3.5 BTC today. It's funny because this scenario is even more exaggerated on other stocks that don't frequently trade as much volume as AM does. Then people REALLY freak when the price plunges or takes off, even though only a few shares traded hands.

In general, as much as the prices fluctuate and as much as there's a noisy minority of disruptive shareholders posting incendiary crap, the majority of investors seem comfortable to buy and hold. If they didn't, the share volume traded would be much higher. I'm looking forward to seeing what kind of an operation Friedcat (and his competition) will be running in 6-12 months or more.

We will see within the next week if 400 shares will go below 3. I think that's too fast, but adjustments are brutal sometimes. There could be a sentiment inflection among original board members, and then it's game over.

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August 21, 2013, 08:32:22 PM
 #11484

We will see within the next week if 400 shares will go below 3. I think that's too fast, but adjustments are brutal sometimes. There could be a sentiment inflection among original board members, and then it's game over.

it could just as likely go the other way.  things can change fast in this game, for better or worse.

I agree with Canth.  Sure, there are some sell-offs happening, but there is also a lot of buying going on, and in the scheme of things, we're talking about a small minority of shareholders that are moving right now.

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August 21, 2013, 08:33:41 PM
 #11485


We will see within the next week if 400 shares will go below 3. I think that's too fast, but adjustments are brutal sometimes.

Indeed we will. I'm not going to try and predict where the price will be in the short term - I'm just comfortable holding onto my position for quite some time. I get the reasons to be bearish for AM or mining hardware companies in general, but investing in a proven business leader like Friedcat is within my comfort zone.

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August 21, 2013, 08:42:26 PM
 #11486


The bears react instantly and the bulls are delayed. So you get a cliff in the share price because resistance is anemic.

yeah, but then you get a fast recovery when those bull coins get in.  The delay has to do with confirmation times, too.

The market has shown us twice this morning that AM at 3 is undervalued.

Yeah you said that 4-5 times already, WE GOT IT by now. But I know you are long on AM so you are trying to pump it up. The true value will be shown by market and its not undervalued by any means at 3, unless you are blind and dont see what is happening in mining BTC world you should see it too.

One smart guy here.
ajk
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August 21, 2013, 08:52:14 PM
 #11487

opinions are like assholes, we all got one and they all stink.

Im still under the assumption that friedcat will deliver for his investors, he has always done this and now that he is running a much larger operation im sure is much busier than what he once was, many can panic sell on no news, it happened for labcoin and all they had to do was come out and just post an update for it to rally up by almost 50%,

Not saying AsicMiner is going to have the same blow up but all it takes is a bit of good news, some will want to capitalize off the small opportunity but it only really works if you dont have a large number of shares, im still holding long because FC has always delivered and dont see that changing anytime soon considering this is his livelihood
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August 21, 2013, 08:53:30 PM
 #11488

Back into AM shares. FCs proven management and AMs market position are a good bet at these levels.    

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August 21, 2013, 08:54:24 PM
 #11489

Good point to get into am for cheap
tinus42
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August 21, 2013, 08:58:36 PM
 #11490

I don't care about low divs.
I don't care about falling share price.
What I only care about is WHERE IS FRIEDCAT'S UPDATE?! Angry

Yifu was above reproach once.

Now you're just spreading FUD.
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August 21, 2013, 09:06:49 PM
 #11491

I don't care about low divs.
I don't care about falling share price.
What I only care about is WHERE IS FRIEDCAT'S UPDATE?! Angry

Yifu was above reproach once.

Now you're just spreading FUD.


Not really. I've seen this before - I was a victim, in fact. I said, "Yifu was a straight-shooter with the FPGAs and Batch 1. His batch 2 is a little delayed but I know he'll deliver", and I bought his damn chips.

Fool me twice shame on me.

Rebelution
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August 21, 2013, 09:16:11 PM
 #11492

I don't care about low divs.
I don't care about falling share price.
What I only care about is WHERE IS FRIEDCAT'S UPDATE?! Angry

Yifu was above reproach once.

Now you're just spreading FUD.


Not really. I've seen this before - I was a victim, in fact. I said, "Yifu was a straight-shooter with the FPGAs and Batch 1. His batch 2 is a little delayed but I know he'll deliver", and I bought his damn chips.

Yifu's commitment to customers is much different than Friedcat's commitment to his shareholders.  Customers have a right to know why their products are not shipping and what has caused the delays.  

Friedcat does not accept pre-orders, so he has no commitment to keep customers up to date on the manufacturing.  The one time he accepted pre-orders and missed the projected delivery date, he offered refunds and made things right.  With respect to his commitment to shareholders, it is his management style to release limited info so as to keep competitors (as well as shareholders) in the dark.  That is totally fine and its management's prerogative.  If you do not like the limited communication, then do not purchase shares--it's that simple.  Friedcat's commitment is to maximize value for shareholders, not to keep the speculators and short sellers informed of his activities.
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August 21, 2013, 09:24:54 PM
 #11493

The one time he accepted pre-orders and missed the projected delivery date, he offered refunds and made things right.  
He didn't sell pre-orders, a reseller did, and FC helped to make it right.  But, it was not FC pre-selling.

velacreations
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August 21, 2013, 09:27:29 PM
 #11494

Not really. I've seen this before - I was a victim, in fact. I said, "Yifu was a straight-shooter with the FPGAs and Batch 1. His batch 2 is a little delayed but I know he'll deliver", and I bought his damn chips.

Fool me twice shame on me.

So, because of another company and their handling of product, you're saying FC is somehow scamming us?

freedomno1
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August 21, 2013, 09:28:32 PM
 #11495

The one time he accepted pre-orders and missed the projected delivery date, he offered refunds and made things right.  
He didn't sell pre-orders, a reseller did, and FC helped to make it right.  But, it was not FC pre-selling.

As a note Rockxie has money stuck that might be missing from this dividend
Coinbase lol
https://bitcointalk.org/index.php?action=profile;u=60803;sa=showPosts

Group buy stuff
https://bitcointalk.org/index.php?topic=265985.0;topicseen
https://bitcointalk.org/index.php?topic=270999.120
https://bitcointalk.org/index.php?topic=272566.40;topicseen
Vycid
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August 21, 2013, 09:31:05 PM
 #11496

Not really. I've seen this before - I was a victim, in fact. I said, "Yifu was a straight-shooter with the FPGAs and Batch 1. His batch 2 is a little delayed but I know he'll deliver", and I bought his damn chips.

Fool me twice shame on me.

So, because of another company and their handling of product, you're saying FC is somehow scamming us?

This argument was made when people warned about Yifu by pointing at Josh and BFL - "it's a different company!". Well, sure, but it proves the risks, no?

I am saying your faith in FC is irrational.

velacreations
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August 21, 2013, 09:35:06 PM
 #11497

This argument was made when people warned about Yifu by pointing at Josh and BFL - "it's a different company!". Well, sure, but it proves the risks, no?

I am saying your faith in FC is irrational.
Well, my faith is based on his actions.

I'm saying your criticism is irrational.

"someone else is an ass, so everyone is an ass"

Vycid
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August 21, 2013, 09:38:32 PM
 #11498

This argument was made when people warned about Yifu by pointing at Josh and BFL - "it's a different company!". Well, sure, but it proves the risks, no?

I am saying your faith in FC is irrational.
Well, my faith is based on his actions.

I'm saying your criticism is irrational.

"someone else is an ass, so everyone is an ass"

We're talking about ASIC companies here, not "everyone". There is a clear pattern and you should appreciate that risk.

freedomno1
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August 21, 2013, 09:40:25 PM
 #11499

This time might be worth a Friedcat appearance
Rebelution
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August 21, 2013, 09:42:40 PM
 #11500

The one time he accepted pre-orders and missed the projected delivery date, he offered refunds and made things right.  
He didn't sell pre-orders, a reseller did, and FC helped to make it right.  But, it was not FC pre-selling.

True, I glossed over that subtlety for the sake of brevity.
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