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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3901586 times)
hammurabi
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August 28, 2013, 04:24:08 AM
Last edit: August 28, 2013, 04:41:39 AM by hammurabi
 #11981

I have collected some management pieces from The Business Cat song:
and linked them all together. Check it out Smiley

http://youtu.be/qNhycX0XCJ0




Update
We have collected several shareholders' questions for answering.
Business Cat just called to make sure
That we're singing from the same hymn
sheet

There hasn't been a huge hardware dividend payoff: is it because of reduced margins, or delays?
Because we are collecting funds to get ready for the exponentially increased devices to be assembled in September and October.
That we're optimizing, synergizing
Our portfolio
Diversifying our assets
By investing in other kind of business pets

Why has the hashrate dropped the past weeks?
It dropped in different few days. Some of them are internal hardware/network glitches, some of them are luck based. We haven't identified any form of DDOS attacks recently though.

And he wants us to know before he's got to go
To the conference being held in Tokyo
That he'll take up the slack
And that he's got our back
When it comes to upper-management

How are things going regarding your business plan? Did you account for the sudden network hashrate increase? How is the international expansion of ASICminer coming along?
The business plan is unchanged. The network hashrate increase was still under our projection. The total hash target originally set for the end of this year would probably achieved earlier.
The ASICMiner expansion via franchising is still much within China border. The internationally deployed portion will dominate when the gain of operation cost outweigh the delay and cost of international shipping/assembling abroad.
Business Cat flies around the world
He's a first class guy
I'm his first class girl
You're also his secretary
Meow, meow, meow

But he's married to his job
'Cause he's Business Cat
Strictly business
On business
Doing all the business in his litter tray

Besides mining, hardware sales, and franchising, are there any other potential sources of revenue?
There are many possible ones considered, but none can support serious sound business model based on a 1-2billion dollar total market value of Bitcoin: selling patents, offering solution for mining farm construction, assembly service, etc.
Business Cat is back from the conference
He is filled with new found confidence
He's exploring the paradigm, blue-sky
thinking, pushing the envelope, touching
BASE

For more transparency, is it possible to share a wallet address for depositing income from ASICMINER hardware sales?
We use a different deposit address for each payment transaction. But a centralized nexus address is good. Then people could see how the funds are separated as dividends and expenses.
Business Cat wants to get some face time
See what you're bringing
To the table

Could we have an official live hashrate meter from ASICMINER?
We have an internal one, mainly for troubleshooting when some of the racks going down. The hashrate meter based on the blocks mined reflects more of the real speed (plus luck of course). We will buy more bandwidth before making it accessible by the whole internet. It also requires more commitment in maintenance.
Meow.
Meow, meow, meow.



That should shed some soundful light onto how things are being run by cats Smiley

BTC:    1Hpk4rWpP3gACJhXHn8VkeNp4usdQmfuVY
LTC:    LM5p7X9dTsWj14G2VQeJKuntVUc6GsPnDp
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ning
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August 28, 2013, 05:22:03 AM
 #11982

Anybody noticed the increased hashing power of ours? That put a smile on my face:)
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August 28, 2013, 05:24:01 AM
 #11983

Could the 2nd generation be officially here?

Also it appears as though ASICminer fixed their node problems, they discovered a block with 600+ transactions
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August 28, 2013, 05:24:44 AM
 #11984

Is it possible that the "low transaction number per block" problem has been solved?
E.g. this block
http://blockchain.info/block-index/411874/0000000000000038473a6c40b4fd8b0c78eaa597292e2ebd1107b8fdfdbec11d
contains 619 transactions and 0.37 btc in transaction fees.

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August 28, 2013, 06:03:57 AM
 #11985

With the last increasement in price of bitcoin, selling started again. It´s clear, with price higher the company gets more value, but actually its an overvalue.
Thats the only bad thing about investing in BTC, when BTC price is on the rise, share price will fall.
Cheap shares yeah, but lack of liquidity don´t let you sell your shares you hold as fast as you want too. Especially when price is increasing during sleeping time, because Bitcoin markets are open 24 hours. That´s another problem.
I know most people know this, but I just wanted to make that clear.

Yes indeed, I want to sell my btc now to make a decent profit. Too bad I invested 99% of my btc in asic mining, there is no way Im gonna sell them now :/

YinCoin YangCoin ☯☯First Ever POS/POW Alternator! Multipool! ☯ ☯ http://yinyangpool.com/ 
Free Distribution! https://bitcointalk.org/index.php?topic=623937
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August 28, 2013, 07:55:10 AM
 #11986

With all the scam talk revolving around activeminer and labcoin, I think that people will come to realize that there is substantial value in knowing for sure that ASICminer is a legitimate business with a solid history, prices should rise after this mess over at those stocks.
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August 28, 2013, 07:58:40 AM
Last edit: August 28, 2013, 09:21:53 AM by SmiGueL
 #11987

Based on data here:
http://www.asicminercharts.com/live/
I would bet 1BTC that we will see (at least once) the 24h-average equal or above 80TH/s, during the next 48h. Anybody takes it?
I'll take your bet.

Just a few more blocks in the next hours.. This is getting more exciting than I thought. Tongue
Little chance, but it IS still possible ^^ | 6 blocks in ~4h should be enough.




This image is just for illustration purposes. The actual hashrate can (and have to be be) calculated and verified from data in the blockchain.

Asicminer Hashrate Charts @ www.asicminercharts.com

Donations BTC: 1SmiGSGWXzD5aZhmw3jyfpBFCgiki45MT
JimiQ84
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August 28, 2013, 08:08:16 AM
 #11988

Based on data here:
http://www.asicminercharts.com/live/
I would bet 1BTC that we will see (at least once) the 24h-average equal or above 80TH/s, during the next 48h. Anybody takes it?
I'll take your bet.

Just a few more blocks in the next hours.. This is getting more exciting than I thought. Tongue
Little chance, but it IS still possible ^^

My sentiments exactly. I didn't expect so close result Cheesy
BitCsByBit
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August 28, 2013, 08:12:44 AM
 #11989

AM hashrate is back up. It seems to be the all time high, around 80TH/s.

this is called luck and variance

Often, some noobs under-estimate the effect of variance, and get crazy every 6 hours "it's up!", "it's down!".
But this time, I fully agree. This is not variance. They were undoubtedly having a low hashrate these last days, around 30TH/s, and they are now way higher. The possible range of this "way higher" is still large given that the increase is recent, but it will shrink over time and we should get a reasonable approximation in 48h. Personally, I think we will be higher than the previous high of ~60TH/s. I expect 80 or higher.

My hypothesis is that the recent low was due to some work required to extend the farm. Now the extension is being turned on... Welcome the new hash rate!  Smiley


Almost 48 hours later and it is clear that it wasn't just variance.   Grin

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
conv3rsion
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August 28, 2013, 08:27:24 AM
 #11990

With all the scam talk revolving around activeminer and labcoin, I think that people will come to realize that there is substantial value in knowing for sure that ASICminer is a legitimate business with a solid history, prices should rise after this mess over at those stocks.

Its obvious now that there are liquidity problems. AM saw a bump after BTCGarden failed and will see further bumps as other competitors fail, just as the simple announcements for AMC / Activeminer and labcoin caused AM prices to drop.

Now what I don't understand is the now very obvious inverse correlation between BTC / fiat exchange rate and AM shares. If anything, an increase in BTC / fiat exchange rate should bolster AM share prices because fixed expenses (data centers, bandwidth, manufacturing) are paid in fiat, not in BTC. An increase in BTC / fiat exchange subsequently decreases the percentage of BTC that needs to be exchanged to cover those costs and increases the percentage of BTC that can either be retained or paid in dividends. Therefore an increase in BTC / fiat should increase the value (in BTC) of AM shares, but instead the opposite has happened consistently for several months.

This makes absolutely no sense to me. If anyone has any theories for this, I'm all ears.

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August 28, 2013, 08:43:07 AM
 #11991

With all the scam talk revolving around activeminer and labcoin, I think that people will come to realize that there is substantial value in knowing for sure that ASICminer is a legitimate business with a solid history, prices should rise after this mess over at those stocks.

Its obvious now that there are liquidity problems. AM saw a bump after BTCGarden failed and will see further bumps as other competitors fail, just as the simple announcements for AMC / Activeminer and labcoin caused AM prices to drop.

Now what I don't understand is the now very obvious inverse correlation between BTC / fiat exchange rate and AM shares. If anything, an increase in BTC / fiat exchange rate should bolster AM share prices because fixed expenses (data centers, bandwidth, manufacturing) are paid in fiat, not in BTC. An increase in BTC / fiat exchange subsequently decreases the percentage of BTC that needs to be exchanged to cover those costs and increases the percentage of BTC that can either be retained or paid in dividends. Therefore an increase in BTC / fiat should increase the value (in BTC) of AM shares, but instead the opposite has happened consistently for several months.

This makes absolutely no sense to me. If anyone has any theories for this, I'm all ears.



That's because in some peoples' minds the BTC/USD is inversely tied to difficulty.
Also, the BTC/USD spike is biggest on mtgox and should thus be disregarded / discounted.

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August 28, 2013, 08:43:21 AM
 #11992

With all the scam talk revolving around activeminer and labcoin, I think that people will come to realize that there is substantial value in knowing for sure that ASICminer is a legitimate business with a solid history, prices should rise after this mess over at those stocks.

Its obvious now that there are liquidity problems. AM saw a bump after BTCGarden failed and will see further bumps as other competitors fail, just as the simple announcements for AMC / Activeminer and labcoin caused AM prices to drop.

Now what I don't understand is the now very obvious inverse correlation between BTC / fiat exchange rate and AM shares. If anything, an increase in BTC / fiat exchange rate should bolster AM share prices because fixed expenses (data centers, bandwidth, manufacturing) are paid in fiat, not in BTC. An increase in BTC / fiat exchange subsequently decreases the percentage of BTC that needs to be exchanged to cover those costs and increases the percentage of BTC that can either be retained or paid in dividends. Therefore an increase in BTC / fiat should increase the value (in BTC) of AM shares, but instead the opposite has happened consistently for several months.

This makes absolutely no sense to me. If anyone has any theories for this, I'm all ears.



Very simple solution people have BTC and the are speculating on a rise in the fiat value of that BTC.  They see ASICMiner as a was to "boost" their returns.  If BTC exchange rate triples well you tripled your money BUT if BTC exchange rate triples AND you get 30% dividend you quadrupled your money.

These "investors" are very weak hands.  They are essentially using ASICMiner like a weekly money market funds.   When the exchange rate spikes they want to sell some BTC for USD, except to do that they need to sell ASICMiner shares for BTC first.


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August 28, 2013, 08:46:50 AM
 #11993

I have collected some management pieces from The Business Cat song:
and linked them all together. Check it out Smiley

http://youtu.be/qNhycX0XCJ0

That should shed some soundful light onto how things are being run by cats Smiley

I don't know why but this amused me
Make your lyrics into a youtube video perhaps to challenge the best bitcoin song so far
http://www.youtube.com/watch?v=WdrSP0V-KLg

Therefore an increase in BTC / fiat should increase the value (in BTC) of AM shares, but instead the opposite has happened consistently for several months.

This makes absolutely no sense to me. If anyone has any theories for this, I'm all ears.

As the value of each bitcoin increases in value, the share value of AM which is measured in bitcoin decreases relative to other prices meaning that as we see higher prices it cost less bitcoin per share of AM.
Lower prices mean it cost more bitcoin per share of AM.

(edit other posts above are also correct)
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August 28, 2013, 09:05:06 AM
 #11994

With all the scam talk revolving around activeminer and labcoin, I think that people will come to realize that there is substantial value in knowing for sure that ASICminer is a legitimate business with a solid history, prices should rise after this mess over at those stocks.

Its obvious now that there are liquidity problems. AM saw a bump after BTCGarden failed and will see further bumps as other competitors fail, just as the simple announcements for AMC / Activeminer and labcoin caused AM prices to drop.

Now what I don't understand is the now very obvious inverse correlation between BTC / fiat exchange rate and AM shares. If anything, an increase in BTC / fiat exchange rate should bolster AM share prices because fixed expenses (data centers, bandwidth, manufacturing) are paid in fiat, not in BTC. An increase in BTC / fiat exchange subsequently decreases the percentage of BTC that needs to be exchanged to cover those costs and increases the percentage of BTC that can either be retained or paid in dividends. Therefore an increase in BTC / fiat should increase the value (in BTC) of AM shares, but instead the opposite has happened consistently for several months.

This makes absolutely no sense to me. If anyone has any theories for this, I'm all ears.



That's because in some peoples' minds the BTC/USD is inversely tied to difficulty.

Increased difficulty means either
- lower dividend expectation at constant fixed costs
- stable dividend expectation at higher fixed costs (new hardware necessary).

Both have negative effect on expected revenue, thus prompting to sell.

Also, the BTC/USD spike is biggest on mtgox and should thus be disregarded / discounted.

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August 28, 2013, 09:22:22 AM
 #11995

speaking of fixed costs ...

At 60-70TH/s - what would be the costs of electricity, hosting (the DC) and other fixed costs??

What about at 500TH/s?
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August 28, 2013, 09:23:22 AM
 #11996



That's because in some peoples' minds the BTC/USD is inversely tied to difficulty.
Also, the BTC/USD spike is biggest on mtgox and should thus be disregarded / discounted.



Difficulty has generally followed price whenever price has increased (though not necessarily when price has decreased). This makes sense intuitively because an increase in price increases the viability of mining up and until the subsequent increasing difficulty then reduces the viability of mining.

However, the current exponentially growing rate of difficulty is driven both by the order of magnitude increase in BTC / fiat and by the (multiple) order of magnitude increases in hashing rate from the use of ASICS. This may prove to be the fastest increase in difficulty that Bitcoin ever goes through.

Whats never been clear however is that the increases in difficulty then eventually result in further increases in the BTC / fiat rate. In fact, the opposite has been true with Litecoin, where difficulty increased until it wasn't sufficiently viable and then decreased slightly, while the price of LTC itself has been steadily decreasing since April. This is actually very similar to what happened to BTC in fall 2011.

Regarding the price spike, BTC is up across the board by at least 20% in the last 5 weeks (discounting gox). It seems there is growing consensus that the BTC price bubble has finally ended, and given its relative magnitude to the 2011 summer bubble, its very possible that it has. More interesting (to me) is that the exponential growth in difficulty has nearly doubled the temporary BTC inflation rate for a period of now nearly 3 months. That will (obviously) not continue over any substantial period of time for reasons that should be self evident.  

Think about what that means for what is to come. I know what I'm doing.

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August 28, 2013, 09:26:50 AM
 #11997

Based on data here:
http://www.asicminercharts.com/live/
I would bet 1BTC that we will see (at least once) the 24h-average equal or above 80TH/s, during the next 48h. Anybody takes it?
I'll take your bet.

Just a few more blocks in the next hours.. This is getting more exciting than I thought. Tongue
Little chance, but it IS still possible ^^ | 6 blocks in ~4h should be enough.




This image is just for illustration purposes. The actual hashrate can (and have to be be) calculated and verified from data in the blockchain.

5.5h to go... It will be hard for me...
The hashrate does not look bad anyway, I still find likely that they finally increased the farm above 60.

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 28, 2013, 09:42:19 AM
 #11998

- how long has Friedcat been holding back dividends
- how much has he held back
Would it help if friedcat releases a cashflow statement everytime a dividend payment occurs?

e.g. something like:

x BTC dividend payment  = x BTC revenue -  x BTC withheld

then the market can build their own balance sheet during the release of financial statements...
It would help a lot.

1LohorisJie8bGGG7X4dCS9MAVsTEbzrhu
DefaultTrust is very BAD.
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August 28, 2013, 09:50:37 AM
 #11999

Guys, I missed this, what with labcoin panic? Was there some news to trigger this? Looks good to me hehe  Smiley

activemining seems to dip right now on btct, any possible link with labcoin panic?

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 28, 2013, 09:51:59 AM
Last edit: August 28, 2013, 10:05:24 AM by freedomno1
 #12000

Guys, I missed this, what with labcoin panic? Was there some news to trigger this? Looks good to me hehe  Smiley

activemining seems to dip right now on btct, any possible link with labcoin panic?


They are late, Theswede said he can't contact the founders and he is the PR Rep, the developer does not want people to know his association with labcoin, and a few hero members cashed out at least that's what I got recently.

(Edit in: All Fear Dissipated by news Panic Buy)

Activemining people complaining that KenSlaughter has not released any real news and the EASIC agreement is the source of the conversation but nothing has happened. Lack of communication.

AM: More Hash
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