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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914704 times)
TsuyokuNaritai
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August 25, 2013, 04:23:34 PM
 #11801

A very similar CE marking has been alleged to stand for China Export because some Chinese manufacturers apply it to their products. However, the European Commission says that this is a misconception. The matter was raised at the European Parliament in 2008. The Commission responded that it was unaware of the existence of any "Chinese Export" mark and that, in its view, the incorrect application of the CE marking on products was unrelated to incorrect depictions of the symbol, although both practices took place. It had initiated the procedure to register CE marking as a Community collective trademark, and was in discussion with Chinese authorities to ensure compliance with European standards.

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August 25, 2013, 04:40:46 PM
 #11802

Only has 3% of the network now.

LOL, what you mean "now" ?

You mean last day? Because perfect knowledge of network hashrate is unknown at exact time, only estimated in selected timeframe

yeah, but the 36 hour estimate shows 4%, and the 4 day estimate shows 4%

It's not just variance or luck, something is definitely up.  The shorter estimates (<36 hour) are even worse.
7-day average is 37.8 TH: http://runeks.dk/bitcoin/
Current network hashrate is 494 TH: http://bitcoincharts.com/

ASICMiner share is: 7.65%.

If we use the 3-day estimate of 33.5 TH the ASICMiner network share is 6.78%.
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August 25, 2013, 04:57:11 PM
 #11803

When did Asicminer find its last block?
And why has it stopped to do so?
I mean is the tagging gone or what?
Last block found by ASICMiner is currently 254132 found a little more than an hour ago.

Today we had a difficulty change.

Yes, but AM appears to have completely stopped hashing... I know it is about 2 am in China, so worried this issue might not be resolved for a some time...  Question for anyone that knows about chips:  is it possible that the first gen chips after started failing after hashing for so long?
1. No they haven't stopped hashing.

2. No, it is not possible that barely 6 month old chips are worn out now.

Seriously guys, stop looking at the 24-hour average. It's useless. Too much luck is involved.

Am not just looking at the 24 hour average, just look at the mining revenues for the past 10 days on your charts.  Clearly something is up... Don't know why you act like it isn't.

Also when a 60TH operation is solving any blocks at all in 24 hours, and has been solving significantly lower blocks for the past 10 days--I think its reasonable to conclude that something is probably going on.  You don't agree?  Again, looks like it could be the franchising, impossible to know since we don't know what last week's dividends would have been if friedcat hadn't retained bitcoins for reinvestment.

YAY for new USB sitcks, very beautiful!  Will definitely order some to gift when explaining bitcoin to new users.
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August 25, 2013, 04:57:29 PM
 #11804

Myminer has backed out because of legal issues in China and is now taking back all shares in return for the IPO price:

Collecting funds from public is still illegal in China. We used to think that IPO with BTC can avoid this legal risk. However, it turns to be wrong after we consulted with several layers.

We realize that keeping holding your funds for this project is very risky and irresponsible.

Does this mean anything for AsicMiner?

With this on top of what happened with BTCGarden and Avalon in China it seems to be becoming a very bad place to do BTC business. The sooner Friedcat moves some hashrate abroad the better.

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August 25, 2013, 05:00:59 PM
 #11805

Myminer has backed out because of legal issues in China and is now taking back all shares in return for the IPO price:

Collecting funds from public is still illegal in China. We used to think that IPO with BTC can avoid this legal risk. However, it turns to be wrong after we consulted with several layers.

We realize that keeping holding your funds for this project is very risky and irresponsible.

Does this mean anything for AsicMiner?

With this on top of what happened with BTCGarden and Avalon in China it seems to be becoming a very bad place to do BTC business. The sooner Friedcat moves some hashrate abroad the better.

I am confident they will handle this properly. Short-term, this is always good news to see some competitors among all those new IPOs stepping out. Notice how they first collect the funds, and only then wonder if everything is ok to follow their plans.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
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August 25, 2013, 05:09:53 PM
 #11806

Myminer has backed out because of legal issues in China and is now taking back all shares in return for the IPO price:

Collecting funds from public is still illegal in China. We used to think that IPO with BTC can avoid this legal risk. However, it turns to be wrong after we consulted with several layers.

We realize that keeping holding your funds for this project is very risky and irresponsible.

Does this mean anything for AsicMiner?

With this on top of what happened with BTCGarden and Avalon in China it seems to be becoming a very bad place to do BTC business. The sooner Friedcat moves some hashrate abroad the better.

I am confident they will handle this properly. Short-term, this is always good news to see some competitors among all those new IPOs stepping out. Notice how they first collect the funds, and only then wonder if everything is ok to follow their plans.

Evidently AM never wondered that at all, since it was just as illegal for them.

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August 25, 2013, 05:21:32 PM
 #11807

The key risk is that the investors will sue the venture if it proves unprofitable and the police will charge the founders of "illegal fundraising" (a broad term in chinese that covers illegal fundraising and just fraud in general).  Given that AM has already paid out way over IPO price and is very successful, it is a very low risk.

Also BTCGarden was much higher risk because it also ran an exchange.  Therefore people could exchange their fiat into bitcoin on their site and then purchase shares of BTCGarden.  Making it look much more like collecting fiat to run the venture.  AM has no such exchange.

I am not sure about MYMiner though.

EDIT:  Just to be clear AM's raising of funds only through bitcoin made it less high risk.  Additionally, AM IPO'd before the execution of Zeng Chengjie for "illegal fundraising."  The execution has caused a lot of concern in China for good reason.
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August 25, 2013, 05:38:51 PM
 #11808

Maybe it was a strategic placement to stop the shareprice from falling?
I mean its not important to friedcat what a share is priced

What?Huh What the fuck are you talking about?!

my question exactly

asking this just proves how insanely uninformed some "investors" here are.
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August 25, 2013, 05:42:22 PM
 #11809

Why would Friedcat care about the share price?
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August 25, 2013, 05:51:42 PM
 #11810

price going up! yay!

YinCoin YangCoin ☯☯First Ever POS/POW Alternator! Multipool! ☯ ☯ http://yinyangpool.com/ 
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August 25, 2013, 06:14:27 PM
 #11811

price going up! yay!
What`s the reason?

eikzbtc
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August 25, 2013, 06:16:53 PM
 #11812

New stock of blockerupters  Cheesy.
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August 25, 2013, 06:18:09 PM
 #11813

Why would Friedcat care about the share price?

Someone can be the founder, and CEO, and employee and investor.

The only time an investor NEVER cares about share price is if they will never sell or buy.  Has Friedcat signed any contract indicating his shares can never be sold and he can never purchase more shares on the market.  If so then he cares about share price.  If something happens in his personal life and he needs to raise a lot of fiat his shares are a significant source of wealth which can be partially liquidated. 

Now he may not be worried about the share price declining in the short term but all intelligent investors care about their return and that includes capital gains.
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August 25, 2013, 06:18:30 PM
 #11814

price going up! yay!
What`s the reason?

The introduction of new colors for BEs?

BTC: 1ABewnrZgCds7w9RH43NwMHX5Px6ex5uNR
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August 25, 2013, 06:23:49 PM
 #11815

price going up! yay!
What`s the reason?

cat spoke. Meow Meow, share rises.
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August 25, 2013, 06:35:24 PM
 #11816

price going up! yay!
It was expected.

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
😼 Bitcoin Core (onion)
Vycid
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August 25, 2013, 06:43:59 PM
 #11817

price going up! yay!
It was expected.

How'd you arrive at that expectation? I'm no technical trader but I was surprised to see it stick its head up above 3 again. I didn't consider that bounce likely excepting a surprisingly strong dividend this coming week.

But the market is so paper-thin it's hard to have any idea what's happening short term. From my perspective this bounce is just going to delay capitulation.

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August 25, 2013, 06:46:53 PM
 #11818

price going up! yay!
It was expected.

How'd you arrive at that expectation? I'm no technical trader but I was surprised to see it stick its head up above 3 again. I didn't consider that bounce likely excepting a surprisingly strong dividend this coming week.

But the market is so paper-thin it's hard to have any idea what's happening short term. From my perspective this bounce is just going to delay capitulation.

Prices bounce up and down with every tiny little bit of news. A weak dividend one week causes a drop, announcement of some more USB miners causes a spike. Neither price-move is very representative of the true move of the underlying value caused by the news, but people are extremely quick to jump on and off.
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August 25, 2013, 06:47:06 PM
 #11819

Why would Friedcat care about the share price?

Someone can be the founder, and CEO, and employee and investor.

The only time an investor NEVER cares about share price is if they will never sell or buy.  Has Friedcat signed any contract indicating his shares can never be sold and he can never purchase more shares on the market.  If so then he cares about share price.  If something happens in his personal life and he needs to raise a lot of fiat his shares are a significant source of wealth which can be partially liquidated. 

Now he may not be worried about the share price declining in the short term but all intelligent investors care about their return and that includes capital gains.

Well given his vast amount of insider information, I would be much happier if he isn't purchasing the floating shares since the parent company already has more than 50% of the AM shares and I would think that be sufficient exposure?  But yes, you are right, if he is an investor then he would care about the share price.  Awfully bad situation for us shareholders if he does though...
TsuyokuNaritai
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August 25, 2013, 06:51:11 PM
 #11820

Was there anything significant in FC's announcement of new USB miners that wasn't already known?

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